Uncertainty reduction theory Term Paper Example | Topics and Well Written Essays - 1750 words

Uncertainty reduction theory - Term Paper Example Therefore, the importance of the uncertainty reduction theory in communication can be explained with the statement offered by Heath and Bryant (2000). As the authors emphasize, the uncertainty reduction theory is based on the statement that the key aim of the communication process between two people is to reduce the uncertainty, and get to know each other by applying various communication strategies, including passive observation, active assessment, and interpersonal communication. Theoretical Discussion The bases of the uncertainty reduction theory are linked with the concept that people will try to get to know as much as possible about each other by using various communication channels. Considering the fact that their uncertainty can be observed through behavioral and cognitive factors, it should be emphasized, that the general premise of the theory is linked with the necessity to adapt behavior and communication in order to find the most suitable behavioral pattern. Additionally, people tend to find out the opponent’s opinion, as well as formulate their own one about the other communicator. The further reduction of uncertainty can be observed on the relational communication level, and the key premise of this transition is linked with the statement that people become highly motivated in advancing the communication level, in order to reduce uncertainty, and reach certain goals. The key terms of the theory are grounded on the interaction patterns, applied by the strangers. Moreover, Berger and Calabrese (in Kramer, 2004), the founders of the theory, divide the interaction into three key stages that can be regarded as the liking or disliking communication factors: The entry stage is aimed at creating the first opinion, and development of the initial behavioral pattern. This is also featured by the use of the behavioral norms, commonly accepted within the society, while the character of the information exchanged (either verbal or nonverbal) is often of the demographic or transactional nature. The personal stage involves interaction initiation when the basic information concerning the stranger’s beliefs and attitudes is found out. This stage can be entered only after several entry stages. The interacting individuals start probing each other for the particular attitudes, values, and personal features of character. This stage is also featured with the emerging of particular emotions towards each other. The exit stage is also regarded as the decision-taking phase of the relations development. Therefore, people have enough information concerning each other, and they decide whether they have sympathy towards another person, or not. This stage is featured with the decisions whether the further relations will be developed. Therefore, clear understanding of the communication cycles is crucial for studying the behavioral and communication patterns, people resort to, in order to reduce their uncertainty about each other. The key paradigm of the uncertainty reduction theory falls under the premise that people feel uncomfortable when they know nothing about each other, and the communication process between two communicators is turned into getting to know as much information as possible about each other. The uncertainty reduction makes collocutors feel less uncomfortable. However, considering the basic theorems of the theory, it should be emphasized that the actual

Vocabulary and semantics Essay Example | Topics and Well Written Essays - 750 words

Vocabulary and semantics - Essay Example Hence the phrase, flea market Today, the term is used to describe rent spaces for traders dealing in used goods that are of low quality and at low prices. Morphology Morphology is the study of word structure. Morphology is the process of identifying, analyzing and describing the structures of a language’s morphemes and other linguistic units, such as root words, parts of speech and intonation or stress. The term â€Å"flea market† is made up of two words; flea and market, which are the morphemes to this phrase. A morpheme is the smallest single unit in the grammar of a language and its study is called morphology. A morpheme may not be a word as a morpheme has to stand on its own. There are free and bound morphemes. A free morpheme is a single unit that stands on its own and has meaning, whereas a bound morpheme appear as only parts of words, always supported by the root or by another bound morpheme. The term â€Å"flea market† is made up of two free morphemes as the word â€Å"flea† can stand on its own and still have meaning and also the word â€Å"market† has meaning on its own. ... The phrase â€Å"flea market† can also be thought to be a place inhabited by dirty traders. A collocation is a sequence of words or terms that co-occur more often than would be expected by chance (Durkin, 2009). A collocation can be said to be two or more words that often go together, and may sound correct to a native speaker but be unnatural and sound wrong. The term â€Å"flea market† sounds correct to a native speaker but may be very disturbing to a person, who is just learning the language, as that a person can loosely interpret it to be a place where fleas are sold. Semantic relationships Semantics is the study of meanings; the phrase â€Å"flea market† can be taken literally to mean a place where fleas are sold, or we can take the meaning where it denotes a place where second-hand items are sold. There are different semantic relationship types, and they include; Synonyms Synonyms are words that mean exactly the same. According to the Macmillan dictionary, t he term â€Å"flea† is synonymous to aphid, beetle and black widow, as all are types of insects (Hurford, 1996). The term â€Å"market† is synonymous to shop, as both are places where goods are traded. The phrase â€Å"flea market† is synonymous to yard sale. Antonyms Antonyms are words pairs whose meanings are opposite and lie in a continuous spectrum. The term â€Å"flea† has no antonym as there are so many things and animals that are opposites of insects. The term â€Å"market† is also broad as it involved buying and selling which are opposites of each other. As a modern place of trade dealing in mostly new items, a mall can be used as an antonym to a flea market. Pragmatic usage Pragmatics is a minor field of linguistics and studies ways how context contributes to the

Impacts Of Mass Tourism On Ecotourism Sites

Impacts Of Mass Tourism On Ecotourism Sites soft ecotourism often occurs on a large scale within certain accessible areas leading to the observation that ecotourism can and often does occur as a form of mass tourism (Weaver and Lawton, 200: 362). Critically evaluate, using examples, the social, economic and environmental impacts of mass tourism on ecotourism sites. From my studies and research in this subject area of geography it is evident that there is a link and indeed a relationship between ecotourism and mass tourism. In order to understand this relationship however we must take into account what exactly tourism means, and subsequently what is meant by ecotourism and mass tourism. What essentially is tourism? Undoubtedly there are many varying definitions to describe tourism but essentially tourism . . . is the temporary movement of people to destinations outside their normal places of work and residence, the activities undertaken during their stay in those destinations, and the facilities created to cater to their needs (Alister Mathieson and Geoffrey Wall 1982, p.1) Tourism is unquestionably a leisure activity and there are many various forms of tourism including; Cultural tourism. Sex tourism. Adventure tourism. Geotourism. Event tourism. The tourism sector has experienced significant increase in later years due to higher incomes and greater transport amenities and accessibility. According to the Central Statistics Office Ireland website, www.cso.ie the number of trips by Irish residents on domestic travel has increased from 7,001 in 2004 to 8,340 in 2009.  [1]  The increase or enhancement of tourism within certain areas has varying impacts, both positive and negative, on the economic, social and environmental aspects. Ecotourism or ecological tourism essentially refers to travel to an area possessing natural, physical or cultural beauty for example rivers, beaches, mountains and wildlife ecosystems. The main purpose associated with this form of tourism is to maintain, protect and respect the value of the area. According to Mike J. Stabler et al, ecotourism refers to . . . a sustainable, non-invasive form of nature-based tourism that focuses primarily on learning about nature first-hand and which is ethically managed to be low impact, non-consumptive and locally orientated (control, benefits and scale). It typically occurs in natural areas, and should contribute to the conservation of such areas. (Mike J. Stabler et al, 2010, p.360). Ecotourism incorporates a wide range of activities from visits to natural ecosystems for example the Great Barrier Reef in Australia, physical activities such as mountain climbing and visits to see wildlife animals for example gorillas which I will discuss later in thi s essay. There are two main types of ecotourism; soft ecotourism and hard ecotourism. Soft ecotourism is generally the more popular form of ecotourism and usually involves short-term experiences which are nature led by a tour guide and in which the individual returns to a facilitated area. Due to the popularity of soft ecotourism it is more likely that mass tourism could develop as a result. Hard tourism on the other hand refers to the individual involving themselves in an intense experience devoid of amenities like accommodation, restaurants and shops for example The Hollies Centre in County Cork. Mass tourism can be quite difficult to determine as there are no insights as to how many tourists would classify as mass tourism. However it fundamentally refers to large scale tourism where there is a great or large amount of tourists in a given area at any one time. Mass tourism has come to the fore due to higher incomes and accessibility as previously mentioned and in addition to these the introduction of package deals has also played a vital part in this form of tourism. It is essential to note that there is a relationship between these two forms of tourism and one can influence the other hugely. Throughout this essay I will discuss the impacts, socially, economically and environmentally of mass tourism on ecotourism sites with reference to various examples. By controlling and managing potential mass tourism on an ecotourism site the negative social and environmental impacts are significantly reduced, ensuring the overall preservation and conservation of the site. Rwanda is a small country which is located in central Africa and is famous for its beautiful geographical scenery such as the scenic beaches at Lake Kivu and its vast series of mountains. In addition to the beautiful scenery, it also boasts an abundance of wildlife including various species of birds and the rare mountain gorillas. (Figure 1) Rwanda is known worldwide for these mountain gorillas and this undoubtedly is a main attraction for tourists. According to the Rwanda Tourism website, www.rwandatourism.com, the number of visitors in Rwanda increased from 826,374 in 2007 to approximately one million in 2008.  [2]  In addition to this gorilla tourism in Rwanda has grown significantly and reached a peak in 2008 when 17,000 tourists were recorded visiting the Volcanoes Nat ional Park alone (Neilsen, H. and Spenceley, A. 2010, p.2.), with peak season being the months of July and August. Although the increase in Rwandas tourists would not be classified as mass tourism on a global scale, it is essential to note that this increase has had significant impacts in Rwanda. The Volcanoes National Park is located in northern Rwanda and lies on the border of Virunga National Park in the Congo and the Mgahinga Gorilla National Park in Uganda. The Volcanoes National Park enables tourists to experience the extraordinary gorillas up close. The level of tourism certainly has impacts on the ecotourism site socially, economically and environmentally. The local community in Rwanda has experienced both positive and negative impacts as a result of the increase in tourism. In relation to social impacts Rwanda has undoubtedly benefited. The income received in the country as a direct result of tourists in the park has meant that the local communities have socially grown. Under the ORTNP and with the support of the government, a tourism revenue scheme was initiated in 2005, meaning that 5% of revenue from park fees goes towards supporting local communities and projects. The following are examples of projects undertaken in Rwanda as a result of the revenue scheme; Schools; the construction of ten schools within the locality has dramatically cut down on travel time for locals to school. This enables pupils to focus on their studies, thus improving the quality of education in the area. Water Tanks; over 5,000 families within the locality have benefited from the construction of water tanks which provide 20,000 litres of water per person per day. (Neilsen, H. and Spenceley, A. 2010, p.11) The Rwandan community possesses a rich cultural society which is present in their arts and crafts for example woven baskets, pottery and painting. Tourist expenditure on such cultural crafts shows interest in local traditions and rituals and ensures the native culture survives amongst the varying cultures of tourists. Environmental impacts are a considerably important feature when referring to gorilla tourism in Rwanda. Due to the fact that these mountain gorillas are rare and endangered species conservation and protection of these animals is a priority. One can argue that tourism itself can have a detrimental impact on the animals and this undoubtedly is a fair argument. Gorilla tourism can and does present a threat to gorilla conservation as tourists can put stress and disturbance upon the gorillas. This can adversely affect the behaviour and health of the gorillas. (Neilsen, H. and Spenceley, A. 2010, p.16) Evidentially these factors could be responsible for a decline in populatio n size. However, as people in Rwanda have realised the potential danger, they are now managing mass tourism in the following ways in order to conserve the eco-site; Anyone who wishes to take part and experience closer contact with the gorilla species must purchase a permit which is expensive and limited. Tourists are willing to pay high prices for these permits and this essentially means that tourists are aware of and are supporting the ecotourism code of minimising ecological impacts. In addition to the high cost of permits and as briefly mentioned earlier, the revenue scheme means that 5% of this money is fundamentally re-invested back into the conservation and protection of the national parks. A set of rules and regulations have been introduced which prohibit risk to the gorillas. These rules are enforced by staff employed within the park. The following are some examples of rules and regulations enforced; Tourists have to keep a distance of 7 meters between themselves and gorillas. There is a daily limit of one group of tourists per group of gorillas, a limit to the number of tourists within that group and they are required to remain together. Visits are to have a limited time span of one hour. Minimum age requirement of 15. (Neilsen, H. and Spenceley, A. 2010, p.4) If we are to imagine this ecotourism site without any means of managing tourist numbers what would be the impacts environmentally? Undoubtedly the gorilla species in the Volcano National Park would become extinct. The population of the gorilla has already decreased in recent years and there is no question that extensive large scale tourism (larger than what Rwanda is currently experiencing) would decrease it even more. In terms of economic impacts with reference to tourism in Rwanda we can see that tourism is acting as an economic asset to the local communities. Employment in gorilla tourism is very significant and at least 180 employment opportunities have been created within the park including tour guides, anti-poaching teams and gorilla groups trackers. (Neilsen, H. and Spenceley, A. 2010, p.12) Benidorm is a coastal town situated in the province of Alicante in Spain. It is home to beautiful sandy beaches which attract numerous tourists every year. Originally prior to the 1960s it was a small village where farming and fishing were the main sources of income. During this time period Benidorm experienced little or no tourism.   Since then however Benidorm has developed tremendously and attracts as much as ten million tourists per year. As a result of this dramatic change the lives of the local people and indeed the landscape have changed dramatically. Tourists are attracted to Benidorm due to easy accessibility, cheap package deals, abundance of accommodation, the beautiful sandy beaches, nightlife and golf courses. The town of Benidorm developed rapidly in order to cater for this large scale tourism and this development has had social, economic and environmental impacts as a result. The construction of tourism related infrastructure has negative environmental impacts in the vicinity of Benidorm. Over consumption, over development, pollution and artificial reconstruction are amongst these negative impacts. Many high rise hotels were constructed in order to cater and maximise tourism within the town which immediately diminishes the beauty of the town and decreases attractiveness.   Pollution is an ongoing problem in the area. Tourism leads to extreme litter and extreme pressure on sewerage systems. Cheaper package deals have led to an increased level of air travel, thus increasing the levels of nitrous oxide, hydrocarbon and lead in the air. Over consumption of natural resources for example water is another negative impact of tourism in Benidorm in the past with tourists exploiting the resource in hotels and swimming pools. Reconstruction of beaches, and production of golf courses decreases originality, portrays a modern town and drains images of the picturesque fishing village that was once there. (Figure 2) According to an article on the BBC news website however, www.bbc.co.uk/news/ , Benidorm is now highlighted as the new face of ecotourism. The author describes the recent environmental positive impacts which were acknowledged and have occurred as a result of the initial negative impacts of mass tourism. In one hotel the lights immediately turn off upon vaca ting the room and many of the taps are foot-pump operated in order to save water which in turn tackles the overconsumption of the natural resource. In addition low energy street lighting is used. In relation to the economy of Benidorm there are both positive and negative impacts. The tourism industry is worth an impressive amount to the economy and is a vital asset in terms of job creation. The restaurants, pubs, hotels and shops employ a large amount of people from Benidorm and the surrounding areas which would perhaps be unemployed if it was not for high tourism levels. The majority of food is locally sourced which essentially means that money earned by local businesses is essentially going back into the local economy. However tourism in this town has negative impacts also. Many of the hotels in Benidorm are chain hotels and are foreign owned. This acts as a drain on the local economy as money leaves the country. The cost of living increased as a result of mass tourism with prices of houses and goods and services putting pressure on the locals. Socially, the huge numbers of tourists visiting Benidorm has resulted in a wide range of cultures which can have has both positive and negative effects. The wide multicultural society as a result of mass tourism indeed positive yet this can have strongly influence negative impacts. It can simply drown out the Spanish culture of the town and with such a diversity of cultures anti-social behaviour has occurred and remains a possibility when misunderstandings or insulting of different cultures occurs. In addition to this mass tourism can have adverse impacts socially for the locals. Mass tourism has led to a rise in inappropriate behaviour with tourists engaging in such activities as drug use and excessive drinking. Tourism also interrupts local access to amenities such as shops, roads, public parks and sporting facilities as well as public transport. From the examples I have discussed throughout this essay it is evident that there is indeed a relationship between the two forms of tourism- ecotourism and mass tourism. In relation to my two examples, gorilla tourism in Rwanda, Africa and tourism in Benidorm, Spain, it is essential to note that I took two different approaches in terms of discussing them. When referring to ecotourism in Africa, I discussed the impacts that managing tourist numbers has had on the ecotourism site. It is evident from this example that ensuring the impacts of tourism numbers on this destination are monitored and managed is vital for sustainable tourism industry. Without the management gorilla numbers would decrease and would eventually become extinct. Therefore the ecotourism site would not be viewed as a must-go destination and tourism would possibly cease. With specific reference to the tourist destination of Benidorm in Spain, I discussed the impacts which mass tourism had initially created on the are a. In contrast to this, in more recent years I have given an insight to how Benidorm has evolved from an area of mass tourism to an area portraying potential eco-touristic qualities. Tourism management in a destination that is in line with local communities preserves and enhances the environment and protects its wildlife, while providing a more authentic tourist experience and eliminating the negative social and environmental impacts of mass tourism on ecotourism site.

Wireless Protocols :: essays research papers fc

Wireless Protocols As with all data transmission technologies, protocols govern the manner in which information is transferred between stations. A protocol is simply an agreed upon standard that all parties use to ensure that different devices can communicate with each other. Wireless protocols can be discussed on their own, and where they fit in the OSI protocol suite. For the sake of clarity, we will limit our discussion to wireless network implementations. Wireless protocols typically reside in layers 1 and 2, the application and presentation layers, respectively, of the OSI model. These two layers help direct how the data is gathered from the end station and prepared for transmission. The main wireless protocol are: IEEE 802.11 covering wireless Ethernet; 802.15 dealing with wireless personal area networks (WPAN), including Bluetooth technology; and 802.16 for broadband wireless access. 802.11 The IEEE 802.11 specification family consists of four different, primary specifications: †¢Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  802.11 – applies to wireless LANs and provides 1 or 2 Mbps transmission in the 2.4 GHz band using either frequency hopping spread spectrum (FHSS) or direct sequence spread spectrum (DSSS). †¢Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  802.11a – an extension to 802.11 that applies to wireless LANs and provides up to 54 Mbps in the 5GHz band. 802.11a uses an orthogonal frequency division multiplexing encoding scheme rather than FHSS or DSSS. †¢Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  802.11b (also referred to as 802.11 High Rate or Wi-Fi) – an extension to 802.11 that applies to wireless LANS and provides 11 Mbps transmission (with a fallback to 5.5, 2 and 1 Mbps) in the 2.4 GHz band. 802.11b uses only DSSS. 802.11b was a 1999 ratification to the original 802.11 standard, allowing wireless functionality comparable to Ethernet. †¢Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  802.11g – applies to wireless LANs and provides 20+ Mbps in the 2.4 GHz band. †¢Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  802.11n – applies to future standards for wireless data transmission that promises a maximum bandwidth of 108 Mbps through the use of multiple antennas (MIMO). Strangely, the order of inception is not alphabetical. Rather, the specifications developed as follows: 802.11; 802.11b; 802.11a; 802,11g; and the projected 802.11n. The 802.11 family specifies the way in which wireless devices communicated with wired LAN base stations, or access points. Wireless-to-wired communication is known as infrastructure mode. A second mode, known as ad hoc mode, specifies the manner in which direct communication between wireless devices occurs. Three of the four current specifications use the 2.4 GHz band. This is an unlicensed bandwidth, which means it is available free of charge to anyone with the technical to use it. Wireless Protocols :: essays research papers fc Wireless Protocols As with all data transmission technologies, protocols govern the manner in which information is transferred between stations. A protocol is simply an agreed upon standard that all parties use to ensure that different devices can communicate with each other. Wireless protocols can be discussed on their own, and where they fit in the OSI protocol suite. For the sake of clarity, we will limit our discussion to wireless network implementations. Wireless protocols typically reside in layers 1 and 2, the application and presentation layers, respectively, of the OSI model. These two layers help direct how the data is gathered from the end station and prepared for transmission. The main wireless protocol are: IEEE 802.11 covering wireless Ethernet; 802.15 dealing with wireless personal area networks (WPAN), including Bluetooth technology; and 802.16 for broadband wireless access. 802.11 The IEEE 802.11 specification family consists of four different, primary specifications: †¢Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  802.11 – applies to wireless LANs and provides 1 or 2 Mbps transmission in the 2.4 GHz band using either frequency hopping spread spectrum (FHSS) or direct sequence spread spectrum (DSSS). †¢Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  802.11a – an extension to 802.11 that applies to wireless LANs and provides up to 54 Mbps in the 5GHz band. 802.11a uses an orthogonal frequency division multiplexing encoding scheme rather than FHSS or DSSS. †¢Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  802.11b (also referred to as 802.11 High Rate or Wi-Fi) – an extension to 802.11 that applies to wireless LANS and provides 11 Mbps transmission (with a fallback to 5.5, 2 and 1 Mbps) in the 2.4 GHz band. 802.11b uses only DSSS. 802.11b was a 1999 ratification to the original 802.11 standard, allowing wireless functionality comparable to Ethernet. †¢Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  802.11g – applies to wireless LANs and provides 20+ Mbps in the 2.4 GHz band. †¢Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  802.11n – applies to future standards for wireless data transmission that promises a maximum bandwidth of 108 Mbps through the use of multiple antennas (MIMO). Strangely, the order of inception is not alphabetical. Rather, the specifications developed as follows: 802.11; 802.11b; 802.11a; 802,11g; and the projected 802.11n. The 802.11 family specifies the way in which wireless devices communicated with wired LAN base stations, or access points. Wireless-to-wired communication is known as infrastructure mode. A second mode, known as ad hoc mode, specifies the manner in which direct communication between wireless devices occurs. Three of the four current specifications use the 2.4 GHz band. This is an unlicensed bandwidth, which means it is available free of charge to anyone with the technical to use it.

Fpi Assignment Essay

Summary The report is regarding to the knowledge of analyzing the accounting data of a listed company, using the various accounting information that provided to identify and examine the competitiveness and efficiency of the listed company. Besides, in order to examine the reliability of the data provided, analysis of the balance sheet and income statement is required. The financial information can be obtained from the annual reports of Harbour-Link Group Berhad. In addition, the report is required to include the top-down approach which consists of Economic analysis, Industry analysis and Fundamental analysis to analyze the listed company in the point of view for investors. Table of Content 1. Introduction 1. Objectives 2. Analysis of the statement of financial position, the statement of financial performance and cash flow statement. 1. Financial Analysis ratio: Asset efficiency ratio Capital Structure ratio Liquidity Ratio Profitability Ratio Share Price 3. Economic Analysis 4. Industry Analysis . Conclusion 6. Findings 7. References Introduction In this report, Harbour-Link Group Berhad is chosen among the listed companies. Harbour-Link Group Berhad is an investment holding company which provides shipping, forwarding and transportation, plant and machinery hiring, and engineering contract services primarily in Malaysia and Singapore. Harbour-Link Group Berhad was founded in the year of 1975 and it is based in Bintulu, Sarawak, Malaysia. It was officially listed on Bursa Malaysia Securities Berhad in the year of 2004. Today, Harbour-Link Group’s success lies in its strong foundation of expertise in the industry and its ability to established the company as a reputable brand-name within the shipping, sea freight forwarding and transportation industries. Objectives 1. To identify the sources of funds, Balance Sheet and profit or loss of the Harbour-Link Group Berhad. 2. To analyze accounting data of Harbour-Link Group Berhad to examine its financial performance using Financial Performance Indicators (ratio analysis) 3. To analyze the economy status, competitors within the same industries and evaluate the operating efficiencies of the listed company. 4. To examine the competitiveness and efficiency of the listed company by using the various accounting information provided. Financial Analysis Financial analysis ratios are used to examine the financial performance of a company in which it will be reflected in the ratios calculated. (Giles et al, 1994, p. 371) Asset efficiency Ratios Asset turnover ratio From the data calculated, the asset turnover ratio for the financial year of 2008, 2009 and 2010 are 109. 9%, 92. 12% and 79. 65%. This indicates that the Harbour-Link Group Berhad is not doing well in the sales of the products or services because the asset turnover ratio is decreasing from year to year. Debtor turnover (in days) Debtor turnover is the debtor collection period of a company. Harbour-Link Group Berhad had a debtor turnover of 73 days in the year of 2008. In the year of 2009, the debtor t urnover is 77 days. However, its debtor turnover is decreased to 71 days. This reflects that the possibility of default risk for the debtors is decreasing. In fact, this is a good thing in a company. Inventory Turnover Inventory turnover measures how many times the company can sell through its inventory for each year. In the year of 2008, Harbour-Link Group has an inventory turnover of 163 times. The turnover increased to 212 times in the financial year of 2009 but the inventory turnover decreased to 127 times in the year of 2010. This reflects that the company can sell better in the year of 2009 but it dropped tremendously in the year of 2010. Capital structure Ratio Debt to equity ratio The debt to equity ratio of Harbour-link Group Berhad is decreasing from the year of 2008 to 2010 by 2%. This is caused by the reducing of total liabilities and the increasing of the total equity. Time interest earned The times-interest-earned ratio allows a lender to evaluate the company’s ability to meet its debt obligation. It is a ratio of the earning before interest and tax over the interest expenses. The time interest earned has a slightly increased from the year of 2008 to year 2009 but it has a greater decrease in ratio amount from the year of 2009 to year 2010. This means that in the year of 2010, Harbour-Link Group Berhad have lesser earnings are available to meet the interest payments and this makes the company to be more vulnerable to the increases in the interest rates. Liquidity Ratios Liquidity ratio is the ratio that is used to examine the liquidity of a company. It includes: Current Ratio Current ratio is the ratio of current assets to current liabilities. Harbour-link Group Berhad has it current ratio decreasing from the year of 2008 to 2010. Its current ratios are 1. 90, 1. 76 and 1. 57 respectively. The ratio is decreased by 14% and 19%. The data is calculated as shown in the findings. Liquid Ratio Liquid ratio is the ratio of (current assets-inventory) to (current liabilities-bank overdraft). Harbour-Link Group Berhad has borrowings so there is bank overdraft existed and that’s why it is classifies as a debt financing organization. The company has a higher liquid ratio of 2. 34 in the year of 2010 compared to the year of 2008 and 2009 which is 1. 88 and 1. 75 respectively. The liquid ratio of the 3 financial years exceeded 1 and this indicates that the current assets are greater than the current liabilities. Higher liquid ratio reflects better performance of the company. Net working Capital Net working capital is the difference between current assets and the current liabilities. In the three financial years, Harbour-Link Group Berhad has the highest net working capital of RM 51. 4 million in the year of 2008. The figure of net working capital for Harbour-link Group Berhad decreased in the year of 2009 and 2010 by 0. 43% and 12. 32% respectively. This shows that there is a drastic drop in the net working capital of year 2010. Profitability Ratios EBIT to total funds ratio EBIT to total funds ratio of Harbour-Link Group Berhad is decreasing in the range of 22% from the financial year of 2008 to 2009 and 21. 4% from the financial year of 2009 to 2010. The total funds consist of shareholders’ funds and borrowings. According to the annual report, Harbour-Link Group Berhad is practicing debt-financing to raise funds because there is borrowing existed. Return on Equity (ROE) Harbour-link Group shows a decrease in net income from year 2008 to 2010. This situation leads to the decrease in the return on equity (ROE) of 5%. In the financial year of 2010, it has the ROE of 0. 08 which indicates that for every RM1 of the capital that the shareholder invested into, they will get 8% of return. Return on Assets The return on assets measures the productivity of assets in terms of the level of profits each dollar of assets generates. (Karen D. H, 2004, p. 131) The return on assets of the Harbour-Link Group Berhad is decreasing from the financial year of 2008 to 2010. It decreased from 8% of year 2008 to 7% in the year of 2009 and then 5% in the year of 2010. This implies that the productivity of the company’s assets is not doing well in terms of profits that the assets generated. Net Profit Margin The net profit margin is the ratio of net profit after tax to the total revenues. In the financial year of 2008 and 2009, Harbour-Link Group Berhad has the net profit margin figure of 8%. It indicates that the company has a net income of RM0. 08 for each RM1 of sales. However, the net profit margin for the year of 2010 decreased by 2% which is only 6% in the financial year. This shows that for every RM1 of sales made by the company in year 2010, the net income is only RM0. 6 which is RM0. 02 lower than the previous year. Share Price Price to Earnings Ratio (P/E) Price to Earning ratio is calculated by using the share price of the year 2010 over the earnings per share. The market price of Harbour-Link Group Berhad was amounted to RM 0. 72 in the year of 2010. From the annual report of the financial year of 2010, the earning per share is R M 0. 11. By using the formulae, the price to earning per share of 2010 is calculated as shown in the table with a figure of RM 6. 825. Current Economic Analysis Roots of Global financial crisis Global financial crisis are usually caused by bad regulation of the banking sectors, failure of fiscal and monetary policy implemented and so forth. In the year of 2008, Financial crisis began with the declared of bankruptcy of Lehman Brothers Holdings Inc. which is the fourth largest investment bank in United States. It was a severe ongoing world financial problem that began in U. S in the year of 2008. This recession has entirely hitting on the fragile global economy with the tremendous devastation in countries all around the world. The U. S government was trying to point the finger of the financial crisis to the rating agencies, who knew about the great risk that was coming but kept giving high reliability ratings to companies that did not deserve them and thus investors invested in the wrong companies. The cause of the bankruptcy of Lehman Brothers Holdings Inc was the accumulation of debt and the increasing of loan defaults. Why it evolved into a world crisis The news on bankruptcy of Lehman Brothers Company led to the drastic fall in the share price all over the world. The company had billions of dollars losses incurred in the mortgage market of United States. (BBC NEWS, 16th Sept 2008) In Lehman Brothers’ case and the other investment banks, the problem was provoked by 2 major factors which are the very high level of leverage ratio and the dependence on short-term debt financing. Commercial banks cannot leverage their equity more than 15 to 1 as they are regulated but for Lehman Brothers Company, it had a leverage ratio of more than 30 to 1. According to the table 1, Lehman Brothers had only $3. 30 of equity for every $100 of loans. With this ratio, it makes the company to be insolvent. Conversely, the instability arose from the leverage problem was aggravated by the strong reliance on the short term debt. Based on table 1(Lehman Brothers Liabilities and shareholder’s equity), at the beginning of the crisis, the company financed greater than 50% of the assets. Reliance on short term debt financing is profitable indeed when it comes to a low interest rate market environment. However, when the company faced rumors of the insolvency problem, the short term lenders will start to have doubt on the company’s performance and therefore, they will start to withdraw their funds from the company for self interest protection. This scenario will lead to a shortage of liquidity for the borrower and thus the company tends to default. After the crisis began, Lehman Brothers did try to decrease its leverage and reduce its dependence on the short term borrowing but it was too late for them to amend the situation and therefore, bankruptcy occurred. The bankruptcy of Lehman’s brother forced the reassessment of risk in the market by looking at the price of the credit default trades. Impact on Malaysia and world economies The crisis started in the year of 2008 had a great hit on Malaysia and world economies. It causes the gas price had a drastic drop, decreasing of the value of real estates, the increasing of unemployment rate, Federal debt crisis and inflation. There is a global explosion in commodities price. The price of crude oil was remaining at high levels for few years till the end of 2008, the crude oil price dropped from the peak in July 2008 of US$145 to US$30. 28 per barrel in December 2008. (Forbes, 2008) According to the findings in table 2, the unemployment rate of Malaysia increased by 3. 13% from the year of 2008 to 2009 and 12. 12% from the year of 2009 to 2010. Malaysian future economic At first, Malaysia was aiming to have 9% of average annual Growth Domestic Product (GDP) until 2020. Suddenly, according to the Economic Planning Unit, the government noted that the number is absurd then they changed and told that Malaysia was capable to achieve 5. 4% of Growth Domestic Product (GDP) annually over the next 10 years to achieve the objective of becoming a high income economy by 2020, which is the vision 2020 (East Asia Forum, 2009). These seem that Malaysia’s economic future is uncertainty. It keeps changing. Besides, Malaysia’s government has a close relationship with its private businesses. Because of the relationship with some business groups have ostensibly led to the emergence of political cronies with unlimited access to public resources. Not only the relationship that mention above but also the experience of neighbouring Indonesia shows that it is a dangerous trend that could negatively affect economic development in the future. In this matter, changes in political leadership led to unstable political environment. Although it does not directly effect on Malaysia, it threatens he influx of refugees caused damage regional stability and social stability. Malaysia’s maritime economy can be defined as the production and manner of use of the range of goods and services that are linked to the maritime sector (Abdul Aziz Abdul Rahman, 1997). It covers the activities that are resource based, including fisheries, oil and gas, marine biotechnology and those that are service base d such as shipping ports, shipbuilding and repair and the myriad range of ancillary maritime services (Maritime Institute of Malaysia,2005). Malaysia’s main concern is the future of marine economy of the future of Malaysian trade, because the country’s foreign and domestic trade, or even almost totally dependent on sea transport facilities. From this we can know that it will have a very bright prospect in maritime economy. If Malaysia is to achieve the goals of industrialization, productivity-driven growth and enhancing competitiveness will depend on how the maritime sector is managed. The maritime sector has a main role to play in enhancing productivity-driven growth. An important element that will affect efforts to sustain international competitiveness is productivity. But, for longer term, Malaysia will need to maintain its international competitiveness, since there is rising competition from other emerging markets for Foreign Direct Investments (FDIs) and for the transfer of modern technologies. Environmental issues are also important for Malaysia in the longer term as deforestation and global climate change may destabilize the country’s agriculture, which still plays an important role in the national economy. What is the most important is the political will effect a change to system-centred thinking in planning the future of the economy. So, a stable political environment is very important to Malaysia. If the political environment of Malaysia is good, it will have a bright future of economy. Solutions to the Global Financial Crisis or crises in general. Banks and financial institutions can cause a downswing of an economy because of their ignorance of the business cycle. Besides, bankers are greedy with the fat bonuses that they will gain if they get the highest market shares results. When the economy is doing well, they expect that there will be no recession problem is going to occur and therefore they will give loans to their customers without considering their customers’ affordability to repay the loans. Once their customers cannot afford to repay the loans, recession will occurs. To overcome these crisis problems, several steps can be used. Government and bankers often intervene to smooth the peaks and valleys of the economic cycle. There are two objectives that the government and bankers can do to prevent serious downswing of an economy. 1) Speedy intervention to prevent a self-perpetuating downward spiral, which means protecting depositors at minimal long term cost to the taxpayer. For example, the Federal reserve may restrict the money supply in good times to slow the expansion phase of the economic cycle, or deficit spend and cut interest rates to ease the recessionary phase of an economic cycle. 2) Ensure so far as possible that future booms are less exaggerated. This has implications for the form of any rescue package, and for the system of financial oversight that is put in place. The growth of consumer credits will increase the consumption of the consumer. The increase in the consumption will increase the aggregate demand of the country whereby AD equals to C + I + G + (X-M). Mc Taggart et al, 2007 p. 766). When the AD is increasing, it means that GDP is also increasing. This shows that the consumer credits provided will also be increased and therefore people will keep on borrowing money from the banks for consumption. This situation actually can amplify the business cycle and extend the upswing of the economy. Industry analysis The domestic and the world economy were in a downturn in the year of 2009. All the industry was affected and they are making an effort to maintain their previous performance and growth momentum. In the year of 2009, Harbour-Link Group Berhad suffered revenue declined by 5. 9% to RM 327. 6 million. The revenue decreased again by 5. 76% to RM 308. 7 million compare to the previous year due to lower selling prices and softer consumer demand. One of the Company competitors, Swee Joo Berhad was also suffered by achieved a turnover of RM 346. 7 million which is 9. 9% lower than the previous financial period. The lower turnover was also impacted by the recovery state for the economy. Swee Joo Berhad has a reduce in current ratio from 0. 648 to 0. 278 which seems to be lower than that of the Harbour-Link Group Berhad and therefore Harbour-link seems to have a better current ratio. Swee Joo Berhad has a negative figure for its Earnings before interest and tax of -11. 32 million and -176. 82 million in the year of 2009 and 2010. This is a huge loss for the company. It shows that Harbour-Link has a better performance than its major competitor, Swee Joo Berhad. Although the economy showed signs of recovery, but most of the economists hold that the sustained global recovery is still vague. This situation greatly influenced the consumers spending behavior. According to the Edge, Harbour-Link Unit obtained the secured contracts of RM75. 2 to supply gantry cranes for the Bintulu Port Sdn Bhd. The contracts were expected to be done in the year of 2012 and it’s also expected to escalate the future revenue and earnings positively for Harbour-Link Group Berhad. (The Edge, 11 April 2011) There are several ways for the companies to perform better during this hard period. However, the suppliers are also important causes which will affect the company performance. Although Harbour-Link Group Berhad suffered lower revenue during the year, however, it obtained quite a number of big projects with a favorable amount of contracts worth which is believed to boost the revenues for the future of the company itself. This scenario will assist Harbour-Link Group Berhad to create a stronger visibility and allow it to be well positioned for the economic recovery. Findings [pic] Table 1 shows Lehman Brothers Liabilities and Shareholders’ Equity Source: Lehman Annual Reports |Year |Unemployment Rate |Percentage Change | |2006 |3. 60 | | |2007 |3. 50 |-2. 78% | |2008 |3. 20 |-8. 7% | |2009 |3. 30 |3. 13% | |2010 |3. 50 |12. 12% | Table 2 shows the unemployment rate in Malaysia Source: CIA World Factbook Conclusion In conclusion, although the Harbour-Link Group Berhad has a downturn in its overall performances in the financial year of 2009 and 2010 as the results shown in the findings, but it has a better performance than its main competitor, Swee Joo Berhad in the shipping industries. The Harbour-Link Group Berhad is overall well organized in its financial statements as shown in the annual reports and it can be categorized as a profitable and successful listed company in Malaysia. On the perspective of investors, Harbour-link is counted as a good investment company and therefore investors are advised to consider Harbour-link Group Berhad as one of their investment company because the company has a good expectation to have a huge increase in its future economic benefits. The future economy of Malaysia is expected to have a good return and therefore this ensure that Harbour-Link Group Berhad is a wise investment for the future benefits. References Abdul Aziz Abdul Rahman, 1997, The Maritime Economy of Malaysia, Pelanduk Publication BBC News, 16 September 2008, http://news. bbc. co. uk/2/hi/business/7615931. stm Bursa Malaysia 2010- Equities, Bursa Malaysia Berhad, viewed on 26 April 2011 http://www. bursamalaysia. com/website/bm/market_information/prices/ East Asia Forum, Malaysia’s Economic Future, view on 1 May 2011, http://www. eastasiaforum. org/2009/11/24/malaysias-economic-future/ Encyclopedia of the Nations, Malaysia- Future Trends, viewed on 2 May 2011, http://www. nationsencyclopedia. com/economies/Asia-and-the-Pacific/Malaysia-FUTURE-TRENDS. html Forbes 2008- Crude Oil Prices 1861 – 2009, Forbes. com 2010, viewed on28 April 2011, http://www. forbes. com/2008/05/13/oil-prices-1861-today-real-vs-nominal_flash2. html Giles, R & Capel, J 1994, Finance and accounting, 3rd Edition, MacMillan, London Harbour-Link Group Berhad 2011, harbour. com. my; Total Logistics &EPCC Provider N. V 2009&2010, Harbour-Link Group Berhad, viewed on 22 April 2011, http://www. harbour. om. my/ Karen D. Halpern, 2004, Understanding Finance: Money, Capital and investments, Pearson, New Jersey. Maritime Institute of Malaysia, Malaysia and Port Competitiveness, 2005 Mc Taggart et al, 2007, Macroeconomics, 5th Edition, Pearson, Australia The Edge Financial Daily, 11 April 2011 viewed on 24 April 2011. http://www. theedgemalaysia. com/ The Star Online 2011- Market watch, Star Publ ications (M) Berhad, viewed on 24 April 2011, http://biz. thestar. com. my/marketwatch/charts/l. asp? code=2062~HARBOUR&p1=0. 99&p2=0. 985&p3=0. 99&p4=0. 985&p5=0. 99&p6=0&p7=0. 00&p8=915&p9=0. 532

Important Advice †Do Not Deceive Essay

Humanity is facing many problems like poverty, diseases, violence, homicide, economic recession, and many other miseries, which cause fear in a blissful soul. Since money buys the means that give comfort and happiness to a human, the people are striving either to sustain the basic needs of livelihood, or to expand their existing financial kingdom. However, during their struggle for earning money, some people try to deceive others, and cause sorrow to the bereaved persons. In doing so, although they might have gained more money, but their act of deceit reverts to them, and they also suffer some kind of loss- money, health, happiness, or peace of mind. It is the law of nature that we reap what we sow. If somebody causes pain to a fellow human, then the same pain will return to the miscreant. Can anybody get happiness by snatching happiness from others? Can anybody prosper by cheating somebody through cunning means? It can be seen from the ongoing economic recession that big businesses, who had committed fraud and deception, collapsed eventually. It is true that deceptive acts lead to disaster, foreclosures, layoffs, and suffering. The manipulations in the account statements, which were done by well-paid executives, not only deceived the investors, but also caused grief to the fraudsters, who lost billions of dollars during the slump. Hence, my advice to humanity is that one should never deceive somebody. Relations and economy prosper on mutual faith, and they perish if deception becomes the means of attaining them. Bhagavan Sri Sathya Sai Baba preaches â€Å"Love all, serve all,† and â€Å"Help ever, hurt never. † Since we all are humans, and we are liable to commit errors, we should forgive others for their unintentional mistakes, and always encourage them to improve their performances. In a positive work environment, workers are motivated to produce the best results, and they try to excel through their sincerity and diligence. Please do not deceive anybody for your own benefit.