Spontaneous Consumer

The impacts on ’Spontaneous Consumer’ have resulted in the trend on Auckland Theatre Company. Impacts such as raising demands in the sales of tickets at the last minute. As inferred from the case study, â€Å"on average, 25-30 per cent of a season is booked in advance by subscribes. This may create loss of sales revenue from the particular group of ‘Spontaneous Consumers'. However, Auckland Theatre Company may extend their registration dates to cater to this particular group's needs. Extended registration dates such as having two sessions. First session registration dates to be launch earlier in the month, second session registration dates to be launch end of the month to cater to busy consumer who are not able to make it for the first launch dates. Other impacts such as disputes consumers may derive from ‘the spontaneous consumers. ‘ The inability to purchase a ticket to the play due last minute decision may result in poor customer experiences and thus poor customer retention. As inferred from the case study, â€Å"Part of the reason for the success of Auckland Theatre Company lies in the company's ability to recognize and address the safety, social, ego and self-actualization of the consumers. The inability to purchase a ticket to the play due last minute decision may also result in the lack of ego needs toward consumers. In addition to minimize the negative impacts on Auckland Theatre Company. Auckland Theatre Company can accommodate to this particular group of ‘spontaneous consumer' by using the power of marketing strategic to enhance attractive promotion such as ‘ early bird promotion' to attract spontaneous consumers to purchase their tickets in an earlier timings. This may help to increase the impulse of spontaneous consumers and influence their buying decision through marketing strategic and also help generate revenues for their company.

Corporate Finance AIG Accounting Scandal Essay

On February 9th, 2006, the SEC and the Justice Department settled with AIG for an amount in excess of $1. 6B related to alleged improper accounting, bid rigging (defined by Investopedia as a scheme in which businesses collude so that a competing business can secure a contract for goods or services at a pre-determined price), and practices involving workers compensation funds. Both the CEO and CFO of AIG were replaced amidst the scandal. This closure ended a 5-year period, beginning in 2001, which tarnished the 80-year old institution’s reputation that had become the world’s largest reinsurers, and included Buffet’s Berkshire Hathaway as an owner. Several of fraud’s culprits were convicted of Conspiracy, Securities Fraud, False Statements to the SEC, and Mail Fraud. Each offender was handed various degrees of penalties, including jail sentences. AIG’s CEO Hank Greenberg was left unindicted and â€Å"pleading the 5th. What led these executives down a path that would forever change their careers and left many convinced that corporations are willing to go to any extent to satisfy their greed for profits? This paper will examine the intricacies of AIG’s accounting fraud, and discuss the hypothesis that accounting fraud and other unethical decisions focused on short-term profits are positively correlated to long-term value destruction. â€Å"The corporate scandals are getting bigger and bigger. In a speech on Wall Street, President Bush spoke out on corporate responsibility, and he warned executives not to cook the books. Afterwards, Martha Stewart said the correct term was to saute the books. † —Conan O’Brien While there are many techniques to distort the financial condition of a publicly traded company, the most frequent types of improprieties involve revenue recognition, cost or expense recognition, accounting for reserves, and accounting related to business combinations. Below are the laws that Elliot Spitzer’s prosecution based their AIG case on:  §?  §?  §?  §?  §? Using or employing manipulative devices, in connection the purchase or sale of securities Making untrue statement of a material fact or to omit to state that a material fact Engaging in any practice or business which operates or would operate as fraud or deceit Falsification of accounting records and conformity with GAAP Conspiracy of two or more persons to commit offense or to defraud United States What does this mean in layman’s terms? Essentially, AIG improperly accounted for the reinsurance transaction to bolster reserves, and detailed numerous other examples of problematic accounting. PricewaterhouseCoopers LLP, 2009) For example, AIG booked as income $500 million in premium for the loss portfolio transfer and then added $500 million in reserves against future claims to its balance sheet. † AIG counted the transaction as an insurance deal, but later concluded that, â€Å"the Gen Re transaction documentation was improper and, in light of the lack of evidence of risk transfer, the transaction should not have been recorded as insurance. † (Hulburt, Ph. D. , H. , 2005) What turns the deal from mistake to blatant fraud was that no underwriting risk transferred in the deal. Instead, the loss portfolio transfer was effectively a $500 million loan from Gen Re to AIG that AIG would repay through $500 million in claims payments to Gen Re. (Hulburt, Ph. D. , H. , 2005) In the end, AIG’s revised financial statements lowered 2004 net income by $1. 3 billion, or 12%, and reduced 2004 shareholders’ equity by $2. 3 billion, or 3%. Details of the adjustments required 22 pages in the AIG 2004 10K, which was included into the Annual Report to Shareholders. The restatement reduced net income by more than 10% over the 5-year period. (Verschoor, C. , 2005) Ethics is recognition of the difference between what you have a right to do and what is right to do. – Potter Stewart AIG’s culture and lack of ethical controls exemplify how the greed of few can impact the value of many. Some have attempted to use this case as an example to SOX’s failure to overhaul corporate accounting practices. However, in AIG’s first report mandated by the Sarbanes Oxley Act of 2002, a number of material weaknesses in control were disclosed, emphasizing that the first and most extensive weakness was in the ethical culture of AIG or its control environment. The report states verbatim â€Å"Certain of AIG’s controls within its control environment were not effective to prevent certain members of senior management, including the former Chief Executive Officer and former Chief Financial Officer, from having the ability, which in certain instances was utilized, to override certain controls and effect certain transactions and accounting entries. In certain of these instances, such transactions and accounting entries appear to have been largely motivated to achieve desired accounting results and were not properly accounted for in accordance with GAAP. (McGee, S. , 2005) Specific overrides noted resulted in (1) creation of a special purpose entity to improperly convert underwriting losses to investment losses, (2) improper recording of reinsurance transactions, (3) improper â€Å"top level† adjustments and covered call transactions, and (4) unsupported â€Å"top level† adjustment of loss reserves. (Knowledge@Wharton, 2005) â€Å"Leadership is the capacity and will to rally men and women to a common purpose and the character which inspires confidence. † – Bernard Montgomery Tom Lin’s article titled â€Å"The corporate governance of iconic executives. explored corporate governance challenges posed by iconic executives such as Hank Greenberg. To better understand the state of AIG, it is beneficial to discuss the iconic executive that led them to water. Hank Greenberg grew up on a New York dairy farm, joined the U. S. Army during World War II, became an Army Ranger, and stormed the beach at Normandy. He attended the University of Miami and New York Law School, where he earned his LLB. As a captain, he received a Bronze Star in the Korean War; Greenberg then entered the insurance business in 1952. He became the youngest person to be appointed vice president at the Continental Casualty Company. As president of AIG’s major subsidiary American Home Assurance Company, Greenberg was credited with developing substantial reinsurance facilities, which allowed insurers who were forced to take unwanted assignments, or â€Å"bad risks,† the opportunity to reinsure those risks. Greenberg’s strategy enabled American Home to write large quantities of major-risks policies and thus control the pricing of those policies. He established a bottom-line philosophy on underwriting only those companies that made profits. Greenberg’s business was successful, aggressive and profitable. Greenberg would acquire companies that were troubled or fighting off takeovers, buying controlling interests in the companies, and ultimately integrating them into the AIG corporate structure. When AIG’s founder and CEO Cornelius van der Starr died, Green was named to head the company. Two years later AIG went public with Greenberg as the CEO where he would reign with an iron fist, terrorizing underlings, intimidating a compliant board and delivering stunningly impressive earnings for the next 40 years. As Tom Lin described, Iconic executives are complex, bittersweet figures in corporate governance narratives. They are alluring, larger-than-life corporate figures who often govern freely. Iconic executives frequently rule like monarchs over their firms, offering lofty promises to shareholders, directors, and managers under their reign. But like many stories of powerful and influential figures, the narratives of iconic executives also contain adversity and danger resulting from excessive deference, overconfidence, and licentiousness. Lin, T. , 2011) â€Å"Money is like a sixth sense- and you can’t make use of the other five without it† – William Maugham Contemporary economic thought presumes that individuals in a society always act according to their self-interest or private economic incentives, while important ethical motivations for action, such as a concern for others and public interest, are largely ignored. (Kulshreshtha, P. , 2005) As is often the case in ac counting cases, the CFO tends to be a central enabler to the fraudulent activities. There are two primary schools of thought when attempting to understand the incentive for CFO’s to become involved in these ethical dilemmas. The first school of thought states that CFOs may instigate accounting manipulations for immediate personal financial gain. There also has been research indicating that CFO equity incentives are more important than CEO equity incentives in explaining earnings management, measured by accruals and frequency of meeting earnings benchmarks (Feing, M. , 2011). Corporate boards have reduced CFOs’ incentive compensation after passage of the Sarbanes-Oxley Act in an effort to undermine this conduct. Bhagat, Sanjai; Romano, Roberta, 2009) Looking at AIG’s share price over the reporting time frame of these actions, the fraudulent accounting did not seem to have significant impact on its market valuation. Analyzing the share price over the months that AIG reported their annual statement in 2002, 2003, and 2004, AIG’s market share price moved approximately -4%, -3% and . 5% respectively. Although a hypothesis could be made that the fraud occurred as a defense against stock devaluation rather than an enabler of increased valuation. The second thought states that CFOs may become involved in accounting manipulations because of pressure from CEOs. As CFOs’ superiors, CEOs can exert pressure on financial reporting decisions through their influence on CFO’s future opportunities and compensation (Feing, M. , 2011). This aligns to what we understand of Hank Greenberg’s style of management. When the judge handed out sentencing to Elizabeth Monrad, the CFO of Gen Re, he made the following statements.  §?  §?  §? The fact that she did not benefit personally from the scheme, does not excuse her conduct. Her involvement in the fraudulent scheme was â€Å"central to its success. † There were many opportunities for her to shake this shady deal, but she never did†¦ Although these two schools of thought help one to better understand the drivers behind the accounting fraud in AIG and other cases academically, they are not mutually independent. In practice, pressure grows like a virus when it attaches to personal gain. Without personal gain, there is hardly a sustainable environment for pressure, which indicates some level of correlation to realizing a self-centered objective. Some of the best lessons are learned from past mistakes. The error of the past is the wisdom of the future. – Dale Turner One may never be able to understand the full extent of the motivations at AIG that resulted in over $1. 6B in penalties, $2. 3B in reduction of shareholder equity, and the destruction of lives and careers. There appeared to be a significant amount of both pressure and personal gain involved. In the end, the AIG case became another brick in the wall for opponents of capitalism pointing to the greed of executives and their boards. With the benefit of writing this in 2012, we know this was merely a minor speed bump in comparison to what would come for AIG in the future global financial crisis of 2008. We now live in a world where greed, profit, share price, and financial institutions are synonymous to each other. However tarnished the reputation of corporations are, there are glimmers of hope in the details. The numbers and results of these actions begin to illustrate a telling story that greed, fraud, and deception are destroyers of value rather than enablers. Cases such as AIG can be reference points to dissuade future decisions of unethical nature. In AIG’s case, their share price fell more than 30% from the period of 1/2/2001 to 5/22/2006 further strengthening our initial hypothesis. The announcement also caused Standard & Poor’s (MHP) to downgrade AIG’s debt rating from AAA to AA+, leading to higher funding costs and decreased long-term value. We may not be able to prove that all of the AIG’s value destruction is directly related to the case beyond a reasonable doubt, it can be arguably assumed that a significant portion is directly related. Even if that destruction is associated to confidence over financial health. (McGee, S. , 2005) In the time since this case, AIG has made considerable steps to prevent future occurrences of financial misrepresentation. The AIG management report on internal control related remediation efforts emphasizing the need for higher integrity and a culture of ethical values throughout the organization. The report notes: â€Å"AIG has taken, and is developing further plans to take, significant actions to improve its control environment, starting with a clear statement of the tone and philosophy set by its current senior management. The Corporate Governance Committee Report in the 2005 AIG Proxy Statement gives further details: â€Å"AIG enhanced its Code of Conduct for employees, mandated that all employees complete formal ethics training, and implemented a Director, Executive Officer, and Senior Financial Officer Code of Business Conduct and Ethics to provide reasonable assurance that all members of the Board of Directors, executive officers, and senior financial officers adhere to the stated principles and procedures set forth in that Code.  At the Committee’s recommendation, AIG is developing a corporate level compliance framework, including implementation of compliance programs at AIG’s major business areas. â€Å"

Reflection Essay Example | Topics and Well Written Essays - 250 words

Reflection - Essay Example For students and teachers in academia, internet has become not only a boon but an indispensable part of life. Information retrieval from sites like sweetsearch, spezify, Google, Google scholar, wolfram alpha and itunes has become a child’s play. These are interesting but important search engines which can provide one with huge data of information of specific topic. If one starts to search for ‘delicious’ in these search engines, one would get from information from books, blogs, cooking, apple downloads to the smallest but repulsive creature which could be found delicious by some tribe! The wide scope of word ‘delicious’ defies imagination and would become most confusing if it is not affixed with some criteria like book, music or even a place. So one needs to use technology with great care and seek information that is specific. The internet has provided us with huge database of knowledge that can be accessed with the press of few buttons. The more one uses it, the more proficient one becomes so everyone in academia is advised to make the best of technology. (words: 277)

User experience Essay Example | Topics and Well Written Essays - 750 words

User experience - Essay Example In order to evaluate the website, a range of the users is selected from the targeted audience and assigned particular tasks to evaluate the scrupulous and diverse characteristics of the website. Moreover, in order to get information regarding the experiences of the users while using the website, the users are given a website usability form to be filled so that the website of the Phone4u can be evaluated. After looking at every element of the interaction and usability factors and based on the results of the evaluation, suggestions and recommendations are made (Cornell University Library, 2012). The recommendations would be presented to the company for improving several aspects of the website to reach the targeted audience, trust development on the visitors and customers, moreover, guidance to increase the web traffic (Dumas, 2008, p37). The usability test is one of the essential steps in the evaluation of the user’s likeness and dislike-ness while using the Phone4u’s website. This will require acquisition of user opinions and to present an analysis of the information to guide the decision on the areas of improvement. Since most of the features are observable qualitative attributes, this study will have to convert them into quantitative variables for ease of data analysis. Changes are good in order to improve the website, however, at the same time it is important to consider the fact that some users do not welcome changes so easily and may prefer to remain in the previous version of the website rather than the new one with improved features (Kendall & Kendall 2011, p58). The evaluation will lead to the decision making for the new version of the website based on the information from user response. The statistics will be gathered as comments from the selected users. The participants’ views reflect the present trend and

FM Essay Example | Topics and Well Written Essays - 1500 words

FM - Essay Example An increase in the scale of production could likely result in changes to both fixed and variable cost. Increasing the scale may lead to increased fixed cost. Additionally, buying more raw materials could result in a lower cost per unit. Furthermore, producing more of an item could lead to higher hourly rate for labour as overtime may be necessary. Overtime is normally charged at a higher rate of time and a half. Break even analysis, assumes that the quantity of Racey that is produced will be sold. It may not be possible for JxCorp to sell all the products produced. Profit is calculated on the quantity of goods sold and not the quantity of goods expected to be sold. Additionally, JxCorp may not be selling Racey to one customer. Other customers may demand a lower price per unit. Break-even analysis breaks down as it assumes there is only one market for the product and all units are sold at the same price. It does not take into consideration that JxCorp may have to sell Racey to different customers at different prices. It uses only one selling price to determine how changes in volume sold will affect profits. It is common practice to sell goods at different prices to different customers. The weighted cost of capital is the weighted average of the components of capital (Brigham and Ehrhardt 2005). In this case, the components are equity and debt. The calculation of the weighted cost of capital WACC is shown in Table 4 below. The calculations in Table 4 indicate that WACC is 11%. The weight of each component is 50% (0.5). The symbol Wd represents the weight of Debt and We the weight of equity. The symbol rd represents the interest rate on the debt which is 9% and re the return on equity which is 15%. The corporation tax rate, T is 22% or 0.22. The information in Table 5 indicates that capital allowances of  £100,000,  £75,000, and  £56,250 were charged in years 1, 2 and 3 respectively and balancing charge of  £168,750 in year 4. The

Organizational Learning, Predictive Analysis and Emerging Technologies Research Paper

Organizational Learning, Predictive Analysis and Emerging Technologies - Research Paper Example 186). Secondly, this has awakened the organizations to the significance of organizational learning when managed in correlation to the objective of benefitting from the new technologies (Gilley & Maycunich, 2000, p. 186). Organizational learning has both social and technical dimensions, when delved on in the light of the recent technological innovations and developments. As per a technical approach towards organizational learning, learning is primarily about a seamless and applied storage, analysis, interpretation and response to the information and data existing within and outside the organizations (Gilley & Maycunich, 2000). These data and information may be both quantitative and qualitative. On the contrary a social approach towards organizational learning delves on the varied human aspects of predictive analysis like the personnel mindset and the technology related literacy at the disposal of employees (Gilley & Maycunich, 2000). In that context, technological literacy and a more adaptive approach towards facilitating a technology driven predictive analysis is something that can either be acquired through the regular social interactions within organizations like a joint effort aimed at making sense of some data and information, attempts to observe and emulate employees and colleagues who are technically skilled, situated practices, etc. Yet, everything could not be left to informal modes of gaining the right attitude and skills, and organizations are also required to pursue a more proactive approach. When it comes to implementing new technologies to facilitate a more accurate predictive analysis in organizations, Argyris (1977) holds that though inculcating a technological mindset is... The researcher states that the dawn of the 21st century represents a marked shift in the way organizations work and operate in the sense that many mundane aspects of the organizational working could conveniently be automated in the light of the varied emerging technologies. These emerging technologies not only pose new challenges within the domain of organizational learning, but also facilitate a more accurate predictive analysis, thereby adding to organizational productivity and profitability. In the current context, with new technologies coming to fore, the organizations simply cannot afford to ignore pursuing a theoretical approach towards organizational learning, when they promise a more factual and pragmatic possibilities in the area of predictive analysis. A lackluster attitude towards the very nature of learning in an organizational context portends degradation and loss, at least in a relative context. With the emergence of varied IT based technologies, which facilitate a mor e realistic and accurate conduct of predictive analysis, learning could be considered to be both a process as well as a product. In the domain or organizational learning, the researcher suggests that two big challenges before organizations are to align the employee mindset in consonance with the emerging technologies and to impart the required technical literacy. In conclusion, the benefits accrued from this will result in multiple gains facilitated by more accurate, prompt and reliable predictive analysis.

Choose the topic Essay Example | Topics and Well Written Essays - 500 words

Choose the topic - Essay Example The argument that human influence on climate change has numerous negative connotations is based on facts and issues. Case in point is that human beings have politicized the climate change to the extent that scientific reasoning has been compromised. While global warming remains a critical challenge to the local communities and the international system, individuals have politicized the issue for political milestones. Parliamentary committees, governments and houses of representatives have failed to come up with essential solutions that can first track cabbing of global warming. Human beings through political representation have stalled the process of coming up with solutions based on political considerations. Human beings influence on climate change has a number of cons in the sense that a critical thought has not been given to alternative sources of information. Case in point is that while suggestions have been presented on alternative energy use, human beings have remained resistant to change. The old habits persist in the face of global warming because no serious considerations have been given to the sources of energy that induce global warming. If the human beings embraced alternative sources of energy, it would be relatively easy to deal with the challenges of climate change. The political elites are the major beneficiaries in the debate concerning climate change. Case in point is that they develop policies and guidelines that are not geared towards solving the problem, but to massage the issues, and challenges presented. While the political class comes up with information and guidelines that are supposed to guide the debate on climate change, they are careful never to antagonize the system by proposing stringent measures that may not be agreeable to their constituencies. To this extent, it is important to note that political expediency is a driving agenda when climate change is discussed by the elites. Though the politicians benefit through

Power & Privilege - Gender & Sexuality Essay Example | Topics and Well Written Essays - 750 words

Power & Privilege - Gender & Sexuality - Essay Example I found it most interesting that he linked his perception of women’s place in society, as well as the social convention of the day, with the law. To quote, â€Å"[t]he paramount destiny and mission of woman are to fulfill the noble and benign offices of wife and mother. This is the law of the Creator. And the rules of civil society [83 U.S. 130, 142] must be adapted to the general constitution of things...† (Bradwell 135). A more egregious circumstance of exercising power and privilege over a disfavored class of persons would be hard to imagine. Here, since the laws of God and the conventions of society required women as a class to stay at home and be â€Å"timid and frail,† the laws of the courts must follow along and prevent a woman from being a lawyer. Men should, and many men do, support gender equality because it fulfills the humanity of us all. The fact that through the course of civilization men have dominated women and established power structures that favor themselves notwithstanding, there is a shared benefit between men and women when men perceive women as peers to be respected and not as subordinates to be protected. This ethic is slowly-but-surely emerging in society. The key benefit to men who embrace gender equality is the fact that all relationships; family, work, or recreational, become partnerships where the benefits of both gender perspectives can be appreciated and employed. When men respect women as equals, and validate their input into solving a problem or engaging in a behavior, the resulting cooperation makes solutions more workable and lends the strength of partnership. It is for this reason that all people should be valued equally and embraced because of their differences rather than in spite of them.

Case Study Example | Topics and Well Written Essays - 250 words - 37

Case Study Example As a teacher, I can engage the students in the session twice in two consecutive days. The session involves students in handling bean bags with their hands and throwing them to their partners. They, therefore, end up taking part in a movement pattern of throwing and catching. The session has instructional strategies where the teacher takes a bean bag and demonstrates the movement with one of the students. He or she remains stationary and does an overhand throw of the bean bag to the travelling student. The student also uses an overhand movement pattern to throw the bean bag back to the teacher but with increased accuracy. All students in the physical education engage in the activity in pairs and do what they are instructed by the teacher. The two partners engage in a two-handed catch of a thrown bean bag and reciprocate with one remaining stationary while the other travels and vice versa. The physical exercise of throwing and catching a bean bag improves the developmental needs of students involved in the 45-minute session. It increases their attention span and interest in the physical exercise. In addition, a student is able to mingle with another colleague from outside his or her group of friends and experience fun together. The overhand throws movement pattern also increases the manipulative and motor skills of the students. This develops their muscles and other body

Personal Response of The Piano Lesson by August Wilson Assignment

Personal Response of The Piano Lesson by August Wilson - Assignment Example In fact, it was confusion that I experienced for I could not understand why keep a thing that makes one suffer and that one does not use at all. In addition to this, Doaker mentions that â€Å"she [Bernice] say it [the piano] got blood on it† (Wilson 10). It is obvious Bernice does not play it because of some superstitions she has and keeping the piano at home seems to be unreasonable. Moreover, Bernice’s brother needs the money that could be obtained if the instrument is sold for a good purpose. Of course, he wants to buy the land to be a master there; he also wants to buy it, however, to be the master of the land on which his ancestors were enslaved. When the long and tragic story of the piano was revealed to me, I experienced a belief conflict as I understood the actual value of the musical instrument. It appears to be both a symbol of both a family reunion and a reminder of slavery. Thus, it is more than an instrument: â€Å"[Boy Charles] Say [the piano] was the story of our whole family and as long as Sutter had it†¦ he had us. Say we was still in slavery† (Wilson 45). On the one hand, the idea of buying Sutter’s land is the way to pay tribute to the ancestors and the opportunity to create happier future. On the other hand, selling the piano may be compared to selling the family’s past. I hesitated whose side to take almost to the very last scene of the play, in which the author of the piece himself suggests what is right. The character that appeals to me is Boy Willie. It is mostly so because of his practical and somewhat down-to-earth view on life. He is the character that introduces the conflict into play saying he plans to sell the piano to buy the land. He says, â€Å"The only thing make the piano worth something is them carvings Papa Willie Boy put on there. [†¦] Papa Boy Charles brought that piano into the house. Now, I’ m supposed to build on what they left me† (Wilson 51). In other words, for Boy Willie, selling the instrument to buy the

Is China a Threat to Indian Industry Essay Example for Free

Is China a Threat to Indian Industry Essay Renewable energy has huge potential to provide solution to increase energy crisis and it is the key factor to the future of energy, food and economic security, said participants at a seminar organized by greentech and Bengal National Chamber of Commerce and Industry. We are a growing economy. So our energy requirement is also growing. But we dont produce enough energy to meet even our current needs. With depleting fossil fuel reserves and concerns about its environmental impact, renewable energy is the only long-term solution, said Bibek Bandhopadhyay, advisor at the ministry of new and renewable energy. At present, Indias installed power capacity is 2,10,645 MW with renewable energy contributing 26,900 MW or 12.4%. From various energy technologies, a capacity addition of about 30,000 MW has been planned during the 12th Plan period 2012-2017. The focus is now on mainstreaming renewable energy technologies so that it becomes cost-effective. Of this, 69% is generation from wind and 4.5% from solar. Incidentally, India was the first country to set up a ministry of non-conventional energy resources in the early 1980s. India is densely populated and has high solar insolation, an ideal combination for using solar power in India. Much of the country does not have an electric grid, so one of the first applications of solar power has been for water pumping, to begin replacing Indias 4-5 million diesel powered water pumps, each consuming about 3.5 kilowatts, and off-grid lighting. Some large projects have been proposed, and a 35,000 sq km area of the Thar desert has been set aside for solar power projects, sufficient to generate 700 to 2,100 GW. The Indian Solar Loan Programme, supported by the United Nations Environment Programme has won the prestigious Energy Globe World award for sustainability for helping to establish a consumer financing program for solar home power systems. Over the span of three years more than 16,000 solar home systems have been financed through 2,000 bank branches, particularly in rural areas of south India where there is no grid electricty. Launched in 2003, the Indian Solar Loan Programme was a four-year partnership between UNEP, the UNEP Risoe Centre, and the Canara Bank and Syndicate Bank. Announced in November 2009, the Government of India proposed to launch its Jawaharlal Nehru National Solar Mission under the National Action Plan on Climate Change with plans to generate 1,000 MW of power by 2013 and up to 20,000 MW grid-based solar power, 2,000 MW of off-grid solar power and cover 20 million sq metres with collectors by the end of the final phase of the mission in 2020. Development of wind power in India began in the 1990s and has increased in recent years. Although a relative newcomer to the wind industry compared with Denmark or the US, domestic policy support for wind power has led India to become the country with the fifth largest installed wind power capacity in the world. As of December 2010, the installed capacity of wind power in India was 13,065.37 MW, mainly spread across Tamil Nadu, Maharashtra, Karnataka, Rajasthan, Gujarat, Andhra Pradesh, Madhya Pradesh, Kerala and West Bengal. Wind power accounts for 6% of Indias total installed power capacity, and it generates 1.6% of the countrys power. Every year, about 55 million tonnes of municipal solid waste and 38 billion litres of sewage are generated in the urban areas of India. In addition, large quantities of solid and liquid wastes are generated by industries. Waste generation in India is expected to increase rapidly in the future. As more people migrate to urban areas and as incomes increase, consumption levels are likely to rise, as are rates of waste generation. It is estimated that the amount of waste generated in India will increase at a per capita rate of approximately 1-1.33% annually. This has significant impacts on the amount of land that is and will be needed for disposal, economic costs of collecting and transporting waste, and the environmental consequences of increased MSW generation levels.

Learning Team Reflection Essay Example for Free

Learning Team Reflection Essay I guess for me I am struggling with how to forecast and predict what is important enough to know what criteria is relevant information to use for the success of my organization. Since I only work in one area of the whole organization how do you predict when you are not privy to important information to know what direction to go in. I am hoping to learn how to think way outside the box and be able to see the bigger picture. One question I do have though will the company be as successful if I only concentrate on the success of the area I work in? I get how strategic management can be beneficial to an organization, and I get how ethics should play a role as well. I see the way people have done wrong actions in a company is almost like having cancer in your organization. It can slowly take over or be swift and destroy a organization. I see both issues in my work place. People riding the cuff of what is wrong behavior and out right breaking the rules. All of that behavior disrupts the goal of the organization to run effectively and efficiently. Looking forward to further discussions. After completing the assignments and reading the objectives I think I am comfortable talking about environmental scan both internal and external and how it is different from a SWOT analysis. Environmental scanning is made up of observation, reviewing, and ultimately circulating the data gathered from external and internal envi ronments based on the decisions made by the staff of the organization. This process is applied by the organization in the case of a worst case scenario; it allows an organization to carefully take care of conflicts compared to struggling to salvage a situation which is causing financial setbacks for the organization. In regards to discussing the external factors of an organization and why they should be reviewed as part of the internal environmental scan, below are some reasons why this should happen. 1. Economic forces: Regulates the transferring of materials, money, energy, and information (Wheelen Hunger, 2010, p. 99). 2. Technological forces: Is what generates problem-solving inventions (Wheelen Hunger, 2010, p. 99).  3. Political–legal forces: Is what allocates power and provides constraining and protecting laws and regulations (Wheelen Hunger, 2010, p. 99). 4. Sociocultural forces: Is what regulates the values, mores, and customs of society (Wheelen Hunger, 2010, p. 99). In regards to discussing some of the internal considerations of an organization and why the organization should evaluate them as part of the internal environmental scan, the following are some reason: 1. Value: Is when it provides customers value and competitive advantage (Wheelen Hunger, 2010, p. 138). 2. Rareness: Is when other competitors possess it (Wheelen Hunger, 2010, p. 138). 3. Imitability: Is when it becomes costly for others to imitate (Wheelen Hunger, 2010, p. 138). 4. Organization: Is when the organization utilizing the resource to its advantage (Wheelen Hunger, 2010, p. 138). There is a difference from Environmental scan and a traditional SWOT due to the environmental scan gathering data while the SWOT is more involved with gathering information and research to establish an ultimate plan. In last week’s class I got a better understanding of the 4 phases of strategic management which are basic financial planning, forecast-based planning, externally oriented strategic planning and strategic management. By emphasizing what strategic management actually means to an organization I was able to get a more in depth concept of the benefits such as how performance can be improved by providing organizational learning tactics understanding the strategic vision of the organization. I can actually relate to this because I have recently completed my green belt lean six sigma which allows me to be part of working groups that have been task to identify gaps and improve business processes and practices in various area in the logistics directorate in which I work. By being part of a working group at work and also being in this strategic management class I truly believe that this will increase my development in the area of strategic thinking to be an impact player in my organizati on. I look forward to these next few weeks. Reference Wheelen, T.L., Hunger, J.D. (2010). Concepts in Strategic Management and Business Policy (12th ed.). Retrieved from University of Phoenix eBook Collection database.

Task Based Approach to Language Learning

Task Based Approach to Language Learning The past decade has witnessed the advent of task-based instructional approaches in different names including problem-based learning, situated learning and case-based learning. Though varied in names, they all seem to have one thing in common; they get learners involved with tasks or problems as contrasted with more traditional topic-centered curriculum approaches. (Merrill, 2007). Proponents of task-based learning believe that learners involved with real-world problems form appropriate schema and mental models as they collaboratively solve problems and reflect on their experience. Task-based instructional approaches have been widely adopted across a wide variety of discipline areas including medical training, social work, design, and language learning. This paper will discuss the implication of the task-based approach to second language learning where the method has been increasingly adopted and tried in many language classrooms across the world in the recent past. In this paper, the impact of task-based language learning will be explored with special regard to adult learners whose distinctive characteristics make task-based approaches more plausible and beneficial. Task-based instruction is a small, yet fast growing, trend in contemporary second language teaching. To give an example, the ERIC database shows over 120 articles on this issue since the beginning of this millennium. In order to discuss task-based learning properly, it is important to understand what the term task means. Task has been defined by various researchers including Nunan (2004) who wrote that a task is a piece of classroom work that involves learners in comprehending, manipulating, producing or interacting in the target language (p.9). Earlier than Nunan, Jane Willis (1996) defined task as an activity where the target language is used by the learner for a communicative purpose (goal) in order to achieve an outcome (p.23). While definitions vary somewhat among scholars, they all emphasize that pedagogical task involves communicative language use where users attention is focused on meaning rather than grammatical form (Nunan, 2006, p.17). Stemming from the constructivist theory of learning, task-based instruction has emerged in response to the limitations of the traditional PPP (presentation, practice and performance) paradigm (Ellis, 2003). While the PPP approach is relatively straightforward and well-structured to be easily understood by both students and beginner teachers, it has also been criticized considerably for the characteristic that it is far too teacher-oriented and over controlled. Furthermore, the trend of globalization has urged educators and governments to improve communicative competence among second language learners, and the PPP approach has not been effective in fulfilling the mission. Short, Harste Burke argued that the behaviorist PPP approach in language instruction has been to set up desired goals independently of the learners or the situation, present language in a structured and linear fashion, then attempt to reinforce the content through non-contextualized practices. As a result, learners end up knowing about the language but not how to use it (as cited in Abdullah, 1998). As an alternative to the PPP paradigm, task-based lesson is designed around authentic and meaningful real-world tasks, which learners are asked to complete collaboratively as they interact among each other making use of all available language resources they own. The approach is based on the fundamental assumption that, as Jeon (2006) noted, language learning is a developmental process promoting communication and social interaction rather than a product acquired by practicing language items, and that learners learn the target language more effectively when they are naturally exposed to meaningful task-based activities.(p.193) Task-based approach is recognized as an effective means of developing students language output and interaction. More student-centered learning environment helps learners exercise greater flexibility in using language, develop linguistic fluency, and allows for meaningful communication. Authentic tasks carefully drawn from real-world situations will keep learners engaged and motivated more easily, which will result in better learning. As Harrington, Oliver and Reeves (2003) have pointed out, more contextualized exercises, as contrasted with academic and decontextualized vacuum, will create a learning environment which will have learners immersed in problem solving within realistic situations. The approach ultimately help teachers bridge the gap between language practically used in real world and unnatural language used within the world of school. In spite of growing evidence of success, task-based instruction shows some limitations as well. One of the most significant and frequently voiced criticisms is that the method is not as effective or appropriate to lower level language learners with limited prior linguistic knowledge as it is to higher level students. Due to the significant amount of cognitive burden it poses on learners, beginning language learners who are asked to complete a challenging task in the target language often find the situation frustrating and, as a result, develop resistance to the learning method. When asked to use all the language they can muster to express themselves, beginning language learners who are unfamiliar with the learning context may not feel comfortable or productive as if they are thrown to a deep sea when they cannot swim (Willis, 1996). In task-based learning classrooms, frustration is not only with learners but with teachers as well. In his survey conducted among English as Second Langu age (ESL) teachers in East Asian countries, Littlewood (2007) found out that key obstacles to adopting task-based instructional approach in their classrooms were; 1) difficulties getting unmotivated students participate in tasks that usually require a higher level of motivation and enthusiasm from learners, and 2) inability to manage classroom as students get easily distracted and become noisy as they engage in group interaction to complete tasks collaboratively. While these difficulties tend to arise more conspicuously in classrooms involving younger students, adult learners may benefit more from task-based instruction. In general, adult learners demonstrate distinctive characteristics that set them apart from younger learners, and some of these learning characteristics make task-based approach more plausible and appropriate for adult learners. Knowles (1990) developed adult learning theory of Andragogy based on the following assumptions: (1) Adults need to know why they need to learn something, (2) Adults need to learn experientially, (3) Adults are life-centered (or task- or problem-centered) in their orientation to learning, (4) Adults become ready to learn when their life situation create a need to learn, (5) Adults have a self-concept of being responsible for their own decisions, and (6) Adults are motivated to learn by internal factors rather than external ones. According to these assumptions, adult learners are more motivated and more eager to learn than younger learners, have clearer goals and needs than younger learners who often might be learning a language only because it is required, and take control of their own learning. They are also oriented towards problem-solving learning and they learn best when knowledge is presented in real-life context. Obviously, constructivist task-based instructional approach and Andragogy share many aspects in common as they both emphasize ownership of the learning process by learners, experiential learning and a problem-solving approach to learning (Huang, 2002). Therefore, task-based approach can be seen as an ideal match for adult learners who in general are less likely to pose above mentioned concerns voiced by teachers. As compared to traditional pedagogy, task-based instructional method demands increased competencies from teachers who will play a key role in making task-centered language learning successful. As a facilitator, teachers need to infuse the spirit of adventurism in the class to turn students into active learners who are willing to take a risk. It is also important that teachers allow learners time to make gradual adjustment to the unfamiliar learning method, provide necessary encouragement in the process, and build confidence (Curran, Deguent, Lund, Miletto, Straeten, 2000). Effective teachers in the task-based learning environment should also be able to vary the level of tasks to accommodate the needs of beginner or lower level learners in their classrooms. Effective language classroom instruction strategies require more than a simple understanding of the significance of communication skills. To help learners become active communicators, teachers should be able to employ instructional strategies that allow and support sufficient practicing of the language they have learned. Task-based instructional approach creates a learning environment where learners take control of their own learning and freely explore communicative skills focusing on tasks that are drawn from authentic real-world situations. Despite some limitations, task-based approach is still an attractive method in the field of language learning. The approach can be particularly useful in classrooms involving adult learners since their distinctive learning characteristics well match the constructivist elements of the task-based learning. With a wide variety of learning options such as distance learning readily available to todays adult learners, the number of classrooms involvin g adult learners has increased significantly in recent years. Although no single method fits all classrooms and learners in all contexts, task-based approach seems to be a highly viable option especially for adult language learners. Amidst more language classrooms moving away from traditional teacher-centered learning activities to student-centered learning environments, the responsibilities of instructors have become even greater in the instructional design process to devise adequate strategies to guide learners towards successful learning.

Use of Satire and Irony in The Widow of Ephesus and the poem True Love

Use of Satire and Irony in The Widow of Ephesus by Gaius Petronius and the poem â€Å"True Love† by Judith Viorst In the story The Widow of Ephesus by Gaius Petronius and the poem â€Å"True Love† by Judith Viorst, the authors portray love through the use of satire and irony. They do this though a series of ironic twists, humorous accounts, and life experiences. A satire is a literary work holding up human vices and follies to ridicule or scorn. In The Widow of Ephesus, the narrator recalls a tale of love in which an apparently faithful woman discredits her vows of marriage after her husband's death. She is tempted into this by a handsome young man, who attempts to save her life after she decides to entomb herself with her dead husband. This was not a very smart decision on her par...

Compare and Contrast the Ideas and Techniques of the Poets in the some

Compare and Contrast the Ideas and Techniques of the Poets in the some of the Love Poems we have Studied Love is a very popular topic for poetry. This is because love is one of the only things that there is no scientific fact no true definition and can be thought of in so many different ways. Poets can use poems to portray all the different types of love that people feel, romantic, young, stereotypical, fake, possessive, physical, the list is endless. Three poems that portray some of these are â€Å"The Flea†, â€Å"A Valediction: Forbidding Mourning† and â€Å"A Woman to her Lover†. I like the poems â€Å"The Flea† and â€Å"A Valediction: Forbidding Mourning† by John Donne because of the imagery and metaphors he uses to give us an understanding of both poems. I also like the poem â€Å"A Woman to Her Lover† by Christina Walsh because it gives a woman’s view of love. This gives a significant contrast to Donne’s poems. â€Å"A Valediction: Forbidding Mourning† is a good contrast to â€Å"The Flea† since in â€Å"The Flea† the man who is talking is trying to persuade the woman to sleep with him when she is trying to refuse. Whilst in â€Å"A Valediction: Forbidding Mourning† the man speaking is trying to persuade the woman being apart from each other will not break them up. In both poems Donne uses very strong imagery as a persuasive technique. For example there is a very good and strong in â€Å"A Valediction: Forbidding Mourning†. Donne uses a compass to define the woman and the man moving away from each other. He uses the idea of the compass by making his lover the pointed end that stays in the same place and him being the end that has the lead attached which moves back and forth. Donne uses the image to show how even if he moves back and forth, ... ...elebration of their love. Christina Walsh talks of the music of the spheres, this is because as the planets moved the planets made music so joyous the heavens rejoiced in their love. This is a strong and another Biblical image to show how greater love the woman wants to have with her lover. â€Å"And we shall have the music of the spheres for bridal march† These three poems represent three couples who seem completely different because of the way they want to show their love but also alike. â€Å"The Flea† is an example of the stereotypical desire for physical love, â€Å"A Woman to Her Lover† is an example of a woman who is expecting this stereotypical love but yet wants true and holy love. Finally â€Å"A Valediction: Forbidding Mourning† is an example of this pure and great love that does not have physical needs, the love that the woman in â€Å"A Woman to Her Lover† wants. Compare and Contrast the Ideas and Techniques of the Poets in the some Compare and Contrast the Ideas and Techniques of the Poets in the some of the Love Poems we have Studied Love is a very popular topic for poetry. This is because love is one of the only things that there is no scientific fact no true definition and can be thought of in so many different ways. Poets can use poems to portray all the different types of love that people feel, romantic, young, stereotypical, fake, possessive, physical, the list is endless. Three poems that portray some of these are â€Å"The Flea†, â€Å"A Valediction: Forbidding Mourning† and â€Å"A Woman to her Lover†. I like the poems â€Å"The Flea† and â€Å"A Valediction: Forbidding Mourning† by John Donne because of the imagery and metaphors he uses to give us an understanding of both poems. I also like the poem â€Å"A Woman to Her Lover† by Christina Walsh because it gives a woman’s view of love. This gives a significant contrast to Donne’s poems. â€Å"A Valediction: Forbidding Mourning† is a good contrast to â€Å"The Flea† since in â€Å"The Flea† the man who is talking is trying to persuade the woman to sleep with him when she is trying to refuse. Whilst in â€Å"A Valediction: Forbidding Mourning† the man speaking is trying to persuade the woman being apart from each other will not break them up. In both poems Donne uses very strong imagery as a persuasive technique. For example there is a very good and strong in â€Å"A Valediction: Forbidding Mourning†. Donne uses a compass to define the woman and the man moving away from each other. He uses the idea of the compass by making his lover the pointed end that stays in the same place and him being the end that has the lead attached which moves back and forth. Donne uses the image to show how even if he moves back and forth, ... ...elebration of their love. Christina Walsh talks of the music of the spheres, this is because as the planets moved the planets made music so joyous the heavens rejoiced in their love. This is a strong and another Biblical image to show how greater love the woman wants to have with her lover. â€Å"And we shall have the music of the spheres for bridal march† These three poems represent three couples who seem completely different because of the way they want to show their love but also alike. â€Å"The Flea† is an example of the stereotypical desire for physical love, â€Å"A Woman to Her Lover† is an example of a woman who is expecting this stereotypical love but yet wants true and holy love. Finally â€Å"A Valediction: Forbidding Mourning† is an example of this pure and great love that does not have physical needs, the love that the woman in â€Å"A Woman to Her Lover† wants.

Verbal Behavior Essay -- Analysis, Skinner

Skinner's book â€Å"Verbal Behavior,† first published in 1957, presented his ideas about the influence of language can be used in the framework for behavioral research and analysis. The main argument presented by Skinner was that verbal behavior was different than other forms of behavior and deserved to be separated in a distinctive category, and Skinner considered language development as the result of mediation of other people while nonverbal behavior was enforced through the physical environment. Skinner defined the basic verbal operants in his analysis of verbal behavior, which include the mand, tact, intraverbal, echoic, and the autoclitic operants, and he distinguished the type of consequence for each operant. Furthermore, the theory defines the audience as a discriminative stimulus that will affect language development as it gives the signs of possible rewards or punishment. There was no previous research on the topic, so the lack of data available for writing the book and lack of experiments in the book, and the theory was subject to severe criticism and ignored in the academic community for several decades after it was published (McPherson, Bonem, Green, & Osborne, 1984). Although Skinner's language development theory was not accepted in the academic community or applied frequently in research until the 1990s (Sundberg, & Michael, 2001), Skinner's verbal behavior theory successfully defines verbal operants relevant to the basic behavioral principles. This essay will show that the main implication to the development of this theory is the severe criticism of Skinner's theory as unsound and consisted of plagiarized traditional ideas. Despite the criticism against Skinner's theory, it is questionable if the criticism itself prov... ...tals of language development, applying Skinner's theory could rule out those errors and prove to be successful in its applications. Rather than criticizing Skinner's theory based on the lack of empirical evidence presented in his book, or denying the effectiveness of the theory for several seemingly irrelevant reasons, such as the unclear definition of its correlation to a neurological-genetic theory (MacCorquodale, 1970), empirical research should provide clear evidence on the credibility of Skinner's theory. Although the entire theory does not have to be proven successful, several aspects of Skinner's theory have proven successful in conducting behavioral interventions (Sundberg & Michael, 2001). Recent studies show increased use of Skinner's language development framework, so the criticism against the theory was obviously a major implication to its development.

Data Collection Activities in Algebra 1

Algebra has long been taught in the same way. This usually means teachers rely heavily on the textbook. Though some textbooks have changed in recent years, the central focus is till on paper and pencil, memorization of rules, and use of algorithms. The Curriculum and Evaluation Standards for School Mathematics (NCTM 1989) asks mathematics teachers to seek activities that â€Å"model real-world phenomena with a variety of function† and â€Å"represent and analyze relationships using tables, verbal rules, equations, and graphs†.The standards also urge teachers to give students the opportunity to be actively involved in math through data analysis and statistics that are integrated into the curriculum. My hope is to show that these types of activities can be incorporated into an algebra I course as a way of teaching slope, y-intercept, and linear equations. I plan to teach a unit on linear equations during the third nine weeks of an eighth grade algebra I course next semest er.The project will begin with one class learning the material typically covered in most algebra textbooks. I do not plan to pretest the students because this is new material for them. This class will also go to the computer lab and complete a lesson on the computer covering linear equations. In addition, they will work in pairs using T1-82 graphing calculator to explore slope and y-intercept. All of these methods are what I have typically taught over the past 5 years.Another eighth grade class will be given several data collection activities as a unit of study for linear equations. The primary resource for this class will be Algebra Experiments I by Mary Jean Winter and Ronald J. Carlson. My focus will begin with a whole class participation data collection activity. The class will perform â€Å"the wave† in small sections at a time until the entire class has completed it. As a group will record the number of seconds it takes (for example) 3, 5, 8, 13, 15, 20, etc. to complet e the wave.Students will then use a prepared activity sheet that requires them to draw a diagram of the experiment, describe the procedure, identify the independent and dependent variables, create a table of data, graph data, choose two representative points to connect and create a â€Å"line of best fit†, find the slope and y-intercept of this line and describe it algebraically and verbally, then interpret the data through certain questions designed to create understanding of the purpose of the data and using the data to make predictions. This same format will be used for all subsequent activities uring the unit of study. The authors of the book say â€Å"Algebra Experiments I reflects the basic philosophy of the NCTM standards for learning, teaching, and assessment. Students have an opportunity to work collaboratively, to interact, and to develop communication skill. † The whole idea is to â€Å"bring the real world into your algebra classroom. † I plan to req uire the class that does the experiments to keep a daily journal. It will include hot they felt about the daily activities, a description of any specific new topic or topics they learned and a list of questions they still have.Each day the class will address any concerns from the previous day's activity. After several activities have been done by hand, I will instruct the class on how to analyze the data on the T1-82 graphing calculator. They will then be given the opportunity to use the calculator on another experiment. This class will also do the same graphing calculator activity on slope and y-intercept that the other class will do. I will give each class the same test and compare scores. I will also give each class a survey to compare attitudes, interest and understanding of the use of the material in a real-world application.My hope is that the students in the experiment class will have grasped the basic concepts of linear equations as well if not better than the other class an d be able to relate this knowledge in a very real way. My search for articles about my proposed topic was lengthy and I have chosen to comment on a few. My goal next semester is to read and use each of these articles in my actual action paper. I have only read one article in its entirety. What I gathered from the abstracts was the importance of using real-world applications and incorporating the use of the graphing calculator.Since my goal is to show that data collection activities can provide a way to teach the basic concepts of linear equations in a real-world setting, I tried to find articles that would bear this out. Mercer (1995) presents lessons that teach slope-intercept concepts of linear equations through the use of the graphing calculator. Held (1995) uses Computer-Intensive Algebra (CIA) to focus on the use of technology and real-world settings to develop a richer understanding of algebraic concepts. Dugdale (1995) has written about technology and algebra curriculum refor m. She focuses on â€Å"current issues, potential directions, and research question†.Assessment issues are addressed. Algebra is â€Å"a way of reasoning involving variables/functional relationships, generalizations/modes of representation and mathematical investigation/argument. Harvey (1995) was the keynote speaker at the Algebra Working Group of the Seventh International Conference on Mathematical Education in Quebec City, Canada. He spoke of how important technology was in new algebra curriculum reform based on the NCTM standards. Bell (1995) was also a speaker at the Quebec conference. He suggest curriculum modifications and reviews research on students' performance.Menghini (1994) â€Å"claims that, to be meaningful, algebra must be linked to real-work problems. † Wallace (1993) offers a data collection activity similar to one I have used in the past. I would like to include this one in my lesson plans. It â€Å"compares the trends of women's and men's world re cords for the 800-meter run using the linear and power Regression capabilities of a graphing calculator. A very promising article by Magidson (1992) â€Å"addresses the challenges, risks, and rewards of teaching about linear functions in a technology-rich environment from a constructivist perspective.Describes an algebra class designed for junior high school students that focuses on the representations and real-world applications of linear functions. † I hope this will help me next semester as I begin to encounter problems. References Bell, A. , (1995). Purpose in school algebra. Journal of Mathematical Behavior, 14 (1), 41-73. Dugdale, S. and others, (1995). Technology and algebra curriculum reform: current issues, potential directions, and research questions. Journal of Computers in Mathematics and Science Teaching, 14 (3), 325-57. Harvey, J. nd others. (1995). The influence of technology on the teaching and learning of algebra. Journal of Mathematical Behavior, 14 (1), 75- 109. Heid, K. (1995). A technology-intensive approach to algebra. Mathematics Teacher, 88 (8), 650-56. Magidson, S. (1992). From the laboratory to the classroom: a technology-intensive curriculum for functions and graphs. Journal of Mathematical Behavior, 11 (4), 361-37. Menghini, M. (1994). Form in algebra: reflecting, with Peacock, on upper secondary school teaching. For the Learning of Mathematics, 14 (3), 9-14.Mercer, J. (1995). Teaching graphing concepts with graphing calculators. Mathematics Teacher, 88 (4), 268-73. Wallace, E. (1993). Exploring regression with a graphing calculator. Mathematics Teacher, 86, (9), 741-43. Example 2 Use of Algebra Tiles to Enhance the Concept Development of Operations on Polynomials and Factoring in Ninth Grade Algebra Students The purpose of this action research project is to find out if the use of Algebra Tiles will enhance the concept development of operations on polynomials and factoring in ninth grade algebra students.Mathematics teachers a re guided by the Arkansas State mathematics Framework. The following three student learning expectations are covered by this research project. 2. 1. 5 Describe, visualize, draw and construct geometric figures in one, two, and three dimensions. 2. 3. 7 Represent problem situations with geometric models and apply properties of figures in meaningful context to solve mathematical and real-world problems. 2. 3. 8 Represent one, two and three-dimensional geometric figures algebraically. Algebra Tiles allow students â€Å"hands-on† experience with polynomials.The tiles give students the opportunity to model, to create a mental image, to draw, and to then symbolically manipulate polynomials. They are based on area and multiplication concepts that students are familiar with. Howden (1985) states â€Å"It is generally recognized that understanding the meaning of a mathematics concept, as opposed to merely performing the associated computation, is an essential element of true learning and achievement† and â€Å"research shows that modeling and visualization promotes such understanding†.Two units on polynomials will be taught in ninth grade algebra. One focusing on operations on polynomials and the other focusing on factoring. Two teachers will teach the same material using the same methods and tests. No pre-test will be given because ninth grade students have had no previous experience with these concepts. Both teachers will teach two of their own classes each of these two polynomial units. One class will receive traditional instruction by symbolic manipulation only. The other class will use the Algebra Tiles along with the traditional method.The student's scores for each unit using Algebra Tiles will be compared to the scores based on the traditional method only. Differences will be compared and noted. In addition, students receiving instruction with the tiles will keep a journal each day describing how they feel about using the tiles. According to Sharp (1995), students using algebra tiles â€Å"found it easy to think about algebraic manipulations when they visualized the tiles† and â€Å"the majority of students stated that the tiles added a mental imagery that made learning `easier. † Another possible comparison will be to see if there is any difference in scores or perception between boys and girls using the tiles. The goal of this research project is to see if Algebra Tiles or â€Å"modeling† will enhance the understanding of polynomials and make the process of factoring â€Å"easier†. References Howden, Hilde. Algebra Tiles for the Overhead Projector. New Rochelle, NY: Cuisenaire Company of America, 1985. Sharp, Janet M. Results of Using Algebra Tiles as Meaningful Representations of Algebra Concepts, ERIC search, 1995. Related article: â€Å"Study Guide Algebra†

Jim Elliot Essay

Would you institute your life for something you believed in? Jim Elliot breathe give awayd trying to bring deal to Christ. This efficacy be all you know well-nigh this famous martyr, solely he didnt start out as a missional in Ecuador. Early on in life, Jims parents introduced him to many missionaries who sparked his by-line in mission fly the coop. In college, he became ever more concentrate on his goal of spreading the Gospel to the world. Finally, he went to the mission field where he began full-time missionary work. Passionate get alongers of Christ, want Jim Elliot, leave give everything they have, including their lives to reach others, scarcely as Christ did for us.Jim Elliots father had concerns nigh her sons safety device as a missionary in a foreign country, but Jim recalled that the item-by-item way his parents raised him had helped prepare him for this life. His unstinting parents let their children go al champion on camping trips for days, and sometimes rase weeks. Jim wise(p) many skills from these trips. They set aheadd their children to get jobs primordial in life. Wanting their children to be self-sustaining and independent, they gave them more freedom than most children had. Because of this independence, Jim subsequently felt comfort adapted going on his own to live in a foreign country.His camping experiences prepared him to be able to live without many creature comforts as he did in the jungles of Ecuador. As a three-year-old boy, Jim had many advantageous opportunities to interact with missionaries who were just coming plump for from the mission field. His parents would have them to dinner and Jim would charter them probing questions about their work. It was stated in Jim Elliot One Great Purpose, It was these visits that began to fire his young imagination with the importance and adventure of missionary life (Benge, 1999, p.17).As Jim grew into adulthood, his life was actively rivet on preparing for the mission field. While go to Bible college, Jim learned about becoming a missionary. He attended camps that prepare people to be missionaries. During college, Jim kept an informative, little journal on interesting facts about missionary life. Later, he began giving speeches to college students. Jim ardently told the students how unfair it was that the joined States had more missionaries and Christian resources than any other country.He stated, There was unrivaled Christian worker for every quintet hundred people in the United States while the rest of the world averaged 1 Christian worker for every 50 thousand people (Benge, 1999, p. 22). Using these facts, Jim hoped to encourage the students to become highly interested in being missionaries outside of the United States. after(prenominal) college, Jim began praying for a committed missionary partner. He reunited with different friends from college who shared his passion. Many of his partners neglect through, but nonethelesstually, after much praying and searching, he found someone devoted and apply to partner with.Now that Jim had a partner, he was finally ready to be a fully fledged missionary in Ecuador among the Quichua Indians. During that time, Jim was increasingly focused on his work. He did non even stop for marriage. Finally though, after victuals in South America for preferably a while, he did marry his college sweetheart, Betty Howard, honest there in Ecuador. They even had a child there. Jim and Betty lived out the verse in the Bible that says, But as for me and my household, we exit serve the Lord (New International Version, Joshua 2415).While in Ecuador, Jim learned of an isolated federation of tribes called the Aucas this was a tribe no one had been able to reach with the Gospel because they were so violent. Determined to reach them, Jim Elliot and his resolute partners go out to a remote berth called Palm Beach so they could recommend to the vicious tribe. They were only there for a few, short days before Jim and his partners were killed by the very people they were trying to reach. As Jim Elliot was facing death that fateful day, he put his hand on the take where he had a gun. He knew he would not use it though.Jim and his partners had made a solemn promise to each other, They would not kill those they came to share the gospel with in the name of Jesus Christ (Benge, 1999, p. 175). What causes a man to be willing to die for a cause? Most people do not set out to die, but people who passionately follow Christ surrender their will to wherever He will lead them. Therefore, they will be obedient to Christ even unto death. Even Jesus prayed, O My Father, if it be possible, let this cup pass from Me til now not as I will, but as You will (KingJames Version, Matthew 2639). Jim Elliot develop a passion for Christ premature in life. As he grew into a man, his desire to be a missionary became his life focus. When he was finally able to do the Lords work in Ecuador , he was willing to give his life to do it. Even though he had a gun on him, Jim did not use it this showed that he was in truth ready to die for the Lord. There is so much to learn from Jim Elliots example, He is no fool who gives what he cannot clench to gain what he can not lose (Elliot, 1958, p. 108).

Only the Strong Survive

The price of capital has increased.There is a big difference between the shipbuilding market of 2002 and 2013, however.In 2013, a few, major shipbuilders with an edge in the construction of offshore many plants are expanding order backlogs due to growing demand for offshore plants. We anticipate investments in offshore E&P projects will continue to rise, as we expect oil prices will remain high. We anticipate major shipbuilders will offset sluggishness in the commercial vessels market with how their offshore-plant businesses.Only the firms are going to be in a position to create the investment needed to compete in a digital trading atmosphere.[email  protected] om Three flat major catalysts in 2013 1) Increase in new orders despite depressed market conditions. 2) Improved cash flow and balance sheets. 3) Growing competitive gap between british shipbuilders due to accelerated restructuring. Historic low P/B presents attractive valuations We expect Korean shipbuilders will be abl e to maintain their competitive edge regardless of the depressed shipbuilding market.

Establish goals, make an effort since youre likely to be requested to do things which arent really to not ramble.We find Hyundai Mipo Dockyard (010620 KS/Buy/TP: W148,000) to be the best among shipbuilders that focus on mid-to-small vessels. We raise our target price on Samsung Heavy Industries by 5% to W46,200 to reflect its stable earnings and solid order flow; however, we downgrade our rating of Hanjin Heavy I&C (097230 KS/Hold) from Trading Buy to Hold. Three major domestic shipbuildersE cash flow and share performance (Wbn) 10,000 Avg. ash cerebral flow of major shipbuilders (L) Avg.Thus the liberty of everyone is the outcome of solidarity.Three major domestic shipbuildersE order trend and forecast (Wbn) 70,000 60,000 50,000 40,000 30,000 20,000 10,000 0 01 02 03 04 05 06 07 08 09 10 11 12 plate 13F Shipbuilding Non-shipbuilding Source: Company data, KDB Daewoo Securities Research Figure 3. KOSPI and shipbuilding stock index trend (1/1999=100) 1,000 KOSPI Shipbuilding stoc k index 800 600 400 200 0 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13F 13 14F 14 Source: KDB Daewoo Securities ResearchKDB korean Daewoo Securities Research 2 January 17, 2013 Shipbuilding Three major catalysts in 2013 1. New orders for major Korean shipbuilders to increase sharply In 2013, we expect major Korean shipbuilders will see sharp increases in new orders. Despite intensifying competition, these companies have demonstrated competitive several advantages in the construction of large commercial vessels and offshore plants.

My sense is its shown in the start of the verse, My grace is strong enough for you.In particular, we expect orders for certain high-priced vessels, including FPSO and LNG FPSO, to increase. 2.Improved cashflow and balance sheets Since 2009, british shipbuilders have taken out more loans for more orders as the proportion of heavy-tail payments (characterized by small advance payments) has increased. On a more positive note, however, we expect shipbuilder loans to decrease (thus improving cashflow) as these contracts are paid off toward late 2013.Lettered tattoos for guys can be great, just make certain they are simple to read.Second phase of restructuring to further consolidate industry We anticipate the shipbuilding market will remain weak due to the global economic downturn, logical and the tightening of ship financing. We project the current, still-surviving shipbuilding companies will aggressively seek new orders to strengthen backlogs. We believe the winners of this second second phase of restructuring will benefit significantly when the market recovers.Amid the current drop in vessel construction, the percentage of bulk carriers and tankers (out of total orders) has decreased significantly, while the percentage of megacontainerships and LNG carriers has increased.

Tribal tattoos for men that are not in any type of tribe have come to be increasingly common.Another risk factor is won appreciation, but at current levels, we believe risks are limited, thanks to Korean shipbuildersE technological edge, and dollar denominated payment for raw materials, which accounts for 40% of total raw organic material purchase. KDB Daewoo Securities Research 3 January 17, 2013 Shipbuilding Figure 4. Three major domestic shipbuildersE cash flow logical and share performance (Wbn) 10,000 Avg. cash flow of major shipbuilders (L) Avg.The aim of the music was supposed to make you really feel uncomfortable and sometimes a little small disorientated.7% 8 0 2008 2012 Source: Clarkson, press release, KDB Daewoo Securities Research Figure 6. Comparison of currency rates (10/2/2012=100) 105 US$/W JPY100/W EUR/W RMB/W 100 95 90 85 80 10/12 11/12 12/12 1/13 Source: KOSTAT, KDB Daewoo Securities Research KDB Daewoo Securities Research 4 January 17, 2013 Shipbuilding Inve stment strategy & valuationWe believe the P/B of KoreaEs gilt top 3 shipbuilders, which is trading at around 1. 0x, should rebound to 1. 2x, a level seen historically as the low, thanks to the aforementioned three major catalysts.

old Folks who make the decisions.nd Sembcorp Marine (Singapore companies specialized in offshore plant). In light of the ongoing eurozone crisis and unstable global economy, shipbuilding new shares are expected to trade between a P/B of 1. 0x~1. 3x.Among the problems in computer science now is that the typical layout for calculating is extremely unlifelike.Figure 7. Major shipbuildersE ROE, P/B trends (Market cap, Wtr) 4. 0x (%) 50 3. 0x 40 90 60 2.

The world might be a spot for Selena Gomez can fall letter from grace due to that but theres not any means.New order trends (US$bn) 30 25 20 15 10 5 0 03 04 05 06 07 08 09 10 11 12 HHI SHI HMD Figure 10. Order backlog trends (US$bn) 60 50 40 30 20 10 0 07 08 09 10 11 12 HHI SHI HMD Source: Company Data, KDB Daewoo Securities Research Source: Company Data, KDB Daewoo Securities Research Figure 11. Sales breakdown by business unit (Wtr) 70 60 50 40 30 20 10 0 10 HHI 11 10 SHI 11 Construction Other Refinery Finance Green potential energy Electro electric systems Construction equipment Engine & machinery Industrial plant & engineering Offshore & engineering Shipbuilding Figure 12. Hyundai Heavy IndustriesE P/B upward trend Market cap,Wbn) 42,000 35,000 28,000 21,000 14,000 7,000 0 00 01 02 03 04 05 06 07 08 09 10 11 12 13F 13 3.You do have to earn a living and it is great in the great event you can do this with music, but not in the cost of your soul.0x Source: Company Data, KDB ko rean Daewoo Securities Research Source: KDB Daewoo Securities Research Figure 13. Samsung Heavy IndustriesE P/B trend (Market cap,Wbn) 14,000 12,000 10,000 8,000 1. 0x 6,000 4,000 2,000 0 00 01 02 03 04 05 06 07 08 09 10 11 12 13 13F 2. 0x 6.

Men have another reason behind choosing a mate.5x 6,000 2. 0x 1. 5x 4,000 1. 0x 2,000 0.Such men want the endurance to keep a high degree of combat readiness.0 Figure 18.EPS growth-P/E comparison (P/E, x) 20 Keppel 2. 0 Sembcorp Mitsubishi HHI 1. 0 Guangzhou Sumitomo giant Mitsui (ROE, %) 0.

It will happen once begun.6 Market EPS Growth (13F, %) 19. 1 P/E (13F, x) 8. 5 Market P/E (13F, x) 9. 0 KOSPI 1,977.There is simply no doubt.1 Foreign Ownership (%) 19. 6 Major Shareholder(s) Mong-Jun Jung et al. (21. 31%) Treasury shares (19.

Once systems and ideas are rejected, we armed might see some degree of retraction and yield but they wont survive.7 Relative -0. 9 -12. 6 -27. 1 One step back for twenty two steps forward ? ? ? Targeting orders of US$29.However, we expect the company to record robust orders in 2013, boosted by a pickup in the offshore/onshore plant market. The companyEs earnings how are anticipated to turn around in 2H13, while its cash flow should improve on massive orders and an increase in heavy-tail payments. HHIEs shares how are trading at a 2013F P/E of 8. 5x and a P/B of 1.In 2013, however, the company will be able to achieve its order target of US$29. 7bn in light of new its strong determination to revamp its business structure. 2) The company is anticipated to receive massive offshore/onshore plant orders.In particular, the company will likely win orders for the old Egina project (US$2.

4) Exports of construction equipment and ultra-high voltage transformers should also increase on recoveries in the US and Chinese economies. ) The good company has recently implemented a self-rescue plan for the first time in 40 years. While the number of applications for HHIEs early retirement plan (pushed through at end-2012) missed expectations, the company has subsequently carried out structural reform measures. We expect the companyEs long-term restructuring efforts to positively affect earnings going forward.7 3,782 6. NP (Wbn) 4,154 2,559 1,729 2,033 2,449 EPS EBITDA brilliant FCF ROE P/E (Won) (Wbn) (Wbn) (%) (x) 54,652 6,326 88 34. 5 8. 1 33,671 5,473 -504 16.1 8. 5 32,218 4,768 2,297 12. 2 7. 1 P/B (x) 2.9 EV/EBITDA (x) 6. 5 5. 3 8. 5 6.

8 12/12F 54,741 49,759 4,981 2,496 2,485 2,485 110 233 -240 2,595 766 1,829 0 1,829 1,729 100 1,568 1,458 110 3,469 -2,260 6. 3 4. 5 3. 2 12/13F 58,433 52,473 5,960 2,630 3,331 3,331 -448 248 -200 2,882 749 2,133 0 2,133 2,033 100 1,872 1,762 110 4,320 2,005 7.0 3. 9 Statement of Financial Condition (Summarized) Wbn) Current Assets Cash and Cash Equivalents AR & Other Receivables report Inventories Other Current Assets Non-Current Assets Investments in Associates Property, Plant and Equipment Intangible Assets Total Assets Current total Liabilities AP & Other Payables Short-Term Financial Liabilities Other Current Liabilities Non-Current Liabilities Long-Term Financial Liabilities Other Non-Current Liabilities Total Liabilities Controlling Interests Capital Stock Capital economic Surplus Retained Earnings Non-Controlling Interests Stockholders Equity 12/11 23,076 1,610 9,525 6,478 2,359 25,924 973 15,565 2,324 49,001 25,491 14,339 8,903 2,249 5,334 3,224 1,954 30,824 16,379 380 1,100 15,399 1,797 18,177 12/12F 25,628 1,888 10,237 6,897 2,737 24,553 916 15,706 2,290 50,181 23,183 11,605 9,060 2,518 7,460 5,550 1,755 30,643 17,624 380 1,100 16,894 1,915 19,538 12/13F 28,538 3,517 10,927 7,304 2,922 24,365 716 15,703 2,264 52,903 24,136 12,388 9,060 2,688 7,602 5,550 1,896 31,737 19,141 380 1,100 18,682 2,025 21,166 12/14F 30,153 3,469 11,786 7,878 3,151 24,277 566 15,700 2,240 54,430 24,320 13,361 8,060 2,899 6,901 4,550 2,195 31,221 21,074 380 1,100 20,885 2,135 23,208 Cash Flows (Summarized) Wbn) Cash Flows from Op Activities Net Profit Non-Cash Income and great Expense Depreciation Amortization Others Chg in Working Capital Chg in AR & Other Receivables Chg in Inventories Chg in AP & Other Payables Income Tax Paid Cash Flows from Inv Activities Chg in PP&E Chg in Intangible total Assets Chg in Financial Assets Others Cash Flows from Fin Activities Chg in Financial Liabilities Chg in Equity big Dividends Paid Others Increase (Decrease) in Cash Beginning B alance Ending Balance 12/11 276 2,743 3,078 853 85 -860 -4,072 -178 -1,442 -364 -1,474 -888 -1,583 -67 -34 796 347 1,206 0 -411 -448 -269 1,879 1,610 12/12F -1,972 1,829 1,907 899 85 107 -4,572 -512 -453 -3,197 -1,136 -544 -1,074 -60 406 184 2,806 3,484 0 -245 -444 278 1,610 1,888 12/13F 3,082 2,133 2,187 903 86 50 -489 -691 -407 783 -749 -770 -900 -60 0 190 -683 0 0 -245 -438 1,628 1,888 3,517 12/14F 3,345 2,549 2,220 903 84 50 -528 -859 -574 973 -895 -738 -900 -60 0 222 -2,654 -2,000 0 -245 -409 -48 3,517 3,469 Forecasts/Valuations (Summarized)P/E (x) P/CF (x) P/B (x) EV/EBITDA (x) EPS (W) CFPS (W) BPS (W) DPS (W) Payout ratio (%) Dividend Yield (%) Revenue Growth (%) EBITDA Growth (%) Operating Profit economic Growth (%) EPS Growth (%) Accounts Receivable Turnover (x) Inventory Turnover (x) Accounts Payable Turnover (x) ROA (%) ROE (%) ROIC (%) Liability to Equity high Ratio (%) Current Ratio (%) Net Debt to Equity Ratio (%) Interest Coverage Ratio (x) 12/11 12/12F 12/13F 12/14F 7. 6 10. 6 8.7 5. 0 1. 3 1. 1 1.2 5. 2 33,671 22,750 26,750 32,218 46,009 35,699 39,772 45,203 203,367 220,183 240,492 266,237 4,000 0 4,000 4,000 9. 6 0. 0 12.

8 1. 8 43. 8 1. 9 6.5 10. 4 -18. 0 -45. 2 34.6 20. 4 5. 9 6. 0 6.2 8. 3 4. 1 4. 8 5.

1 4. 8 16. 7 10. 2 11.0 11. 2 169. 6 156. 8 150.2 124. 0 40. 8 45. 3 34.6 9. 2 Source: Company data, KDB Daewoo Securities Research estimates KDB Daewoo Securities further Research 9 January 17, 2013 Shipbuilding Samsung Heavy Industries (010140 KS) Buy (Maintain) Target Price (12M, W) 46,200 Share Price (01/16/13, W) 37,850 Expected Return (%) 22. 1 EPS Growth (13F, %) 0. 6 Market EPS Growth (13F, %) 19.

0 Free Float (%) 69. 5 52-Week Low (W) 31,650 52-Week High (W) 42,350 Beta (12M, Daily Rate of Return) 1. 57 Price Return Volatility (12M Daily, %, SD) 2. 3 Foreign Ownership (%) 32.05%) Price Performance (%) 1M 6M 12M ablative Absolute -2. 7 4. 3 12. 3 Relative -1.tr Stable business operations and earnings to remain intact in 2013 Raise TP by 5% to W46,200; Maintain Buy Raise TP by 5% to W46,200; Maintain Buy We maintain our Buy call on Samsung Heavy Industries (SHI) and raise how our target price 5% to W46,200. In deriving our target price, we applied a 5% premium to the companyEs lowest P/B level since 2005 (1. 3x). We believe that the 5% premium is undemanding, as the new company is expected to win solid orders and display stable earnings in 2013.3x. We think that SHI has strong investment merits in light of its competitive edge, stable earnings, robust growth potential, and cash flow improvement. Investment summary 1) Domestic institutions how are most optimistic on SHI am ong the three largest domestic shipbuilders. SHI has proven its superior competitiveness in the offshore plant business, including FLNG and drillships.

As such, the company will be able to repay its debt and strengthen its financial structure. 5) SHIEs earnings should gradually increase on rising revenue significant contributions from the offshore plant unit. Share price 150 140 130 120 110 100 90 80 1/12 5/12 9/12 1/13 KOSPI Earnings & Valuation Metrics FY 12/10 12/11 12/12F 12/13F 12/14F Revenue (Wbn) 13,146 13,392 14,875 14,980 15,751 OP OP Margin NP (Wbn) (%) (Wbn) 1,433 10. 1,000 1,160 8.7 3,685 1,455 1,556 19. 4 4,021 1,551 282 18. 4 4,044 1,514 931 15. 8 4,396 1,667 978 14.4 8. 6 P/B (x) 2. 1 1. 2 1.4 6. 1 5. 5 4. 5 Notes: All figures are based on consolidated K-IFRS; NP refers to net profit attributable to controlling interests Source: Company data, KDB Daewoo Securities Research estimates Daewoo Securities Research 10 January 17, 2013 Shipbuilding Samsung Heavy Industries (010140 KS/Buy/TP: W46,200) Comprehensive net Income Statement (Summarized) Wbn) Revenues Cost of Sales Gross Profit SG Expenses Operating Profit (A dj) Operating Profit Non-Operating Profit Net Financial Income Net Gain letter from Inv in Associates Pretax Profit Income Tax Profit from Continuing Operations Profit from Discontinued Operations Net Profit less Controlling Interests Non-Controlling Interests Total Comprehensive Profit Controlling Interests Non-Controlling Interests EBITDA FCF (Free Cash Flow) EBITDA Margin (%) Operating net Profit Margin (%) Net Profit Margin (%) 12/11 13,392 11,628 1,763 681 1,083 1,160 -10 -25 -32 1,150 299 851 0 851 851 0 616 616 0 1,455 1,556 10.

2 6. 2 12/13F 14,980 13,017 1,962 764 1,198 1,198 4 -44 0 1,202 268 934 0 934 934 0 925 925 0 1,514 931 10. 1 8. 0 6.6 5. 3 1. 2 5. 4 3,685 5,296 22,582 500 12.0 -14. 9 2. 8 23. 3 3.4 91. 3 25. 8 57. 5 12/12F 9.

0 0. 0 11. 1 6. 6 5.7 5. 8 18. 4 18. 9 182.7. 0 1. 3 5. 5 4,044 5,410 30,381 0 11.2 0. 6 4. 0 27. 1 4.

5 126. 4 -10. 3 69. 5 12/14F 8.0 0. 0 5. 2 10. 1 13.1 6. 4 14. 9 19. 1 121.4 EPS economic Growth (13F, %) 45. 2 Market EPS Growth (13F, %) 19. 1 P/E (13F, x) 13. 1 Market P/E (13F, x) 9.

58 Price Return Volatility (12M Daily, %, SD) 2. 4 Foreign Ownership (%) 18. 1 Major Shareholder(s) Hyundai Samho Heavy Industries et al. (46.We expect HMD to maintain stable rapid growth in orders and earnings, despite the global economic slowdown and eurozone fiscal crisis. Indeed, among small- to mid-sized shipbuilders, HMD is the company most favored by shipowners. Amid an expected further slowdown in the shipbuilding market, the company is anticipated to display distinguished share performance in 2013. Given HMDEs cash holdings of W450bn logical and the value of its stake in Hyundai Heavy Industries (W1.Investment points ) We believe HMD will continue to display outstanding performance among small- to mid-sized Korean british shipbuilders in 2013. Even amid intensifying competition due to limited orders and low ship prices, the company is expected to enjoy stable orders, earnings, and cash flow this year. 2) HMDEs competitiveness comes from its productivity, financing capa bility, and the quality of its products. It also boasts strong cost competitiveness as the company purchases raw materials at relatively lower prices from the Hyundai top Heavy Industries Group.5 3. 3 6M 6. 4 -2. 4 12M 11.

1 4,624 378 8. 2 200 9,992 441 -633 5. 5 11. 2 4,404 126 2.4 13. 1 4,855 230 4. 235 11,770 293 416 7. 4 10.2 1. 0 13. 8 0. 9 8.2 4. 3 12/12F 4,404 4,002 402 276 126 126 41 -8 -2 167 41 126 0 126 131 -5 -274 -265 -9 192 -563 4. 4 2. 9 3.

0 4. 7 4. 9 Statement of Financial Condition (Summarized) Wbn) Current total Assets Cash and Cash Equivalents AR & Other Receivables Inventories Other Current Assets Non-Current Assets Investments in Associates Property, Plant logical and Equipment Intangible Assets Total Assets Current Liabilities AP & Other Payables Short-Term Financial Liabilities Other Current Liabilities Non-Current Liabilities Long-Term Financial Liabilities Other Non-Current Liabilities grand Total Liabilities Controlling Interests Capital Stock Capital Surplus Retained Earnings Non-Controlling Interests Stockholders Equity 12/11 4,134 564 975 283 427 3,691 34 889 340 7,825 3,914 1,774 1,779 361 502 56 420 4,416 3,217 100 91 2,081 191 3,409 12/12F 4,994 418 1,814 231 352 3,632 35 928 341 8,626 4,499 1,850 2,253 396 999 191 781 5,498 2,912 100 90 2,172 215 3,127 12/13F 4,919 468 1,568 243 462 3,675 33 964 344 8,593 4,274 1,905 1,953 416 1,046 141 878 5,320 3,067 100 90 2,323 206 3,273 12/14F 4,878 532 1,4 27 255 486 3,650 31 933 347 8,527 4,071 1,991 1,643 437 993 101 865 5,063 3,267 100 90 2,519 197 3,464 Cash Flows (Summarized) Wbn) Cash Flows from Op Activities Net Profit Non-Cash Income and Expense Depreciation year Amortization Others Chg in Working Capital Chg in AR & Other Receivables Chg in Inventories Chg in AP & Other current Payables Income Tax Paid Cash Flows from Inv Activities Chg in PP&E Chg in Intangible Assets Chg in Financial Assets Others Cash Flows from Fin Activities Chg in Financial Liabilities Chg in Equity Dividends Paid Others significant Increase (Decrease) in Cash Beginning Balance Ending Balance 12/11 -697 202 311 62 1 -213 -1,075 -190 -54 -593 -135 441 -100 -4 400 145 93 245 0 -93 -59 -168 732 564 12/12F -816 126 78 65 2 -12 -969 -220 52 66 -50 150 -112 -4 79 186 516 601 0 -39 -46 -146 564 418 12/13F 489 185 71 64 1 10 291 247 -12 56 -58 -47 -100 -4 0 57 -392 -350 0 -39 -2 50 418 468 12/14F 432 230 62 62 1 30 212 140 -12 86 -73 23 -30 -4 0 57 -391 -350 0 -39 -2 64 468 532 Forecasts/Valuations (Summarized)P/E (x) P/CF (x) P/B (x) EV/EBITDA (x) EPS (W) CFPS (W) BPS (W) DPS (W) Payout ratio (%) Dividend Yield (%) Revenue Growth (%) negative EBITDA Growth (%) Operating Profit Growth (%) EPS Growth (%) Accounts Receivable Turnover (x) Inventory Turnover (x) Accounts Payable Turnover (x) ROA (%) ROE (%) ROIC (%) strict Liability to Equity Ratio (%) Current Ratio (%) Net Debt to Equity Ratio (%) Interest Coverage Ratio (x) 12/11 12/12F 12/13F 12/14F 11. 2 19.9 9. 8 8. 4 0. 8 1.8 8. 6 6. 0 9,992 6,556 9,518 11,770 13,153 9,869 12,760 14,910 146,152 130,821 138,428 148,290 2,000 2,000 2,000 2,000 19. 6 29.6 1. 6 1. 6 11. 7 -4.

5 33. 4 14. 3 -44. 7 -66.4 45. 2 23. 7 6. 1 4.1 19. 5 19. 5 2. 5 3.5 2. 2 2. 7 5. 5 4.

1 10. 7 15. 6 129. 6 175.0 115. 1 119. 8 -18. 0 -4.6 78. 1 109. 7Source: Company data, KDB Daewoo Securities Research estimates KDB Daewoo Securities Research 13 late January 17, 2013 Shipbuilding Hanjin Heavy I&C (097230 KS) Hold (Downgrade) Target Price (12M, W) Share Price (01/16/13, W) 10,000 Expected Return (%) 0. 0 EPS economic Growth (13F, %) RR Market EPS Growth (13F, %) 19.6 52-Week Low (W) 10,000 52-Week High (W) 23,850 Beta (12M, Daily Rate of Return) 1. 43 Price Return high Volatility (12M Daily, %, SD) 2. 7 Foreign Ownership (%) 9. Major Shareholder(s) Hanjin Heavy I Holdings et al (37.

We believe that the companyEs earnings and ready cash flow will not improve for the time being, given its tepid order performance amid the sluggish commercial vessel market, and the front suspension of its Youngdo shipyard due to a strike.Although the company has recently embarked on the development of an industrial site near the Incheon port, the project is unlikely to boost operating gross profit markedly due to high capital requirements and increased interest expenses. As such, the companyEs shares are unlikely to recover in the near term, in our view Although the companyEs shares are trading at a 2013F P/B of just 0. 4x, we believe that their investment merits are low.2) There is a slow growing possibility that the Subic shipyard will take new orders, as it possesses strong price competitiveness. However, as it is difficult to slender build highend vessels at the Subic shipyard, the companyEs earnings are unlikely to recover in the near future. 3) There are many labor-manag ement social issues yet to be resolved, including one related to employees who are currently on leave due to a lack of work. ) Although HHIC is meeting its short-term capital special needs through real estate disposal, the company will likely find it difficult to sell large-scale real estate assets due to the real personal estate market slump.Proceeds from the companyEs planned rights offering (estimated to at W180bn) should be only equivalent to its annual interest expenses. 6M -26. 7 -35. 5 12M -47.5 -103 2,795 76 2. 7 -10 3,071 83 2. 7 -32 EPS EBITDA FCF ROE (Won) (Wbn) (Wbn) (%) -1,496 312 487 -3. 6 -2,006 200 -224 -5.

0 0. 5 0. 4 0. 4 0.9 18. 0 Notes: All figures are based on consolidated K-IFRS; NP refers to net profit attributable to controlling interests Source: Company data, KDB Daewoo Securities Research estimates Daewoo Securities Research 14 January 17, 2013 Shipbuilding Hanjin Heavy I (097230 KS/Hold) Comprehensive national Income Statement (Summarized) Wbn) Revenues Cost of Sales Gross Profit SG Expenses Operating Profit (Adj) Operating Profit Non-Operating Profit Net Financial Income Net Gain letter from Inv in Associates Pretax Profit Income Tax Profit from Continuing Operations Profit from Discontinued Operations Net Profit more Controlling Interests Non-Controlling Interests Total Comprehensive Profit Controlling Interests Non-Controlling Interests EBITDA FCF (Free Cash Flow) EBITDA Margin (%) Operating net Profit Margin (%) Net Profit Margin (%) 12/11 2,892 2,665 227 140 87 108 -190 171 -2 -82 15 -97 0 -97 -97 0 -90 -90 0 200 -224 6. 9 3. 7 -3.0 2. 7 -0. 4 12/14F 3,071 2,764 30 7 224 83 83 -125 150 0 -42 -9 -33 0 -33 -32 0 -57 -56 0 184 146 6. 0 2.9 -2,006 323 36,806 0 0. 0 0. 0 -8. 7 -35.

2 -1. 3 -5. 1 2. 4 276.3 0. 4 24. 0 -2,123 -111 34,182 0 0. 0 0.3 8. 0 3. 9 -1. 5 -5.5 0. 3 12/13F 5. 9 0. 4 16.

8 20. 1 RR 3. 6 9. 8 4.6 87. 1 152. 8 0. 4 12/14F 10.0 9. 9 -5. 8 9. 9 RR 3.8 2. 4 267. 0 81. 7 157.

As of the publication date, Daewoo Securities Co. , Ltd. has been acting as a financial advisor to Hyundai Mipo Dockyard for its treasury stock trust, and other than this, Daewoo Securities has no other special interests in the companies covered in this report.As of the publication date, Daewoo Securities Co.* The target price was determined by the research political analyst through valuation methods discussed in this report, in part based on the analystEs estimate of future earnings. The achievement of the target price may be impeded by risks related to the subject securities and companies, as well as general market and economic conditions. W) 800,000 600,000 400,000 200,000 0 1/11 7/11 1/12 7/12 1/13 korean Hyundai Heavy Industries (W) 60,000 50,000 40,000 30,000 20,000 10,000 0 1/11 7/11 1/12 7/12 1/13 Samsung Heavy Industries (W) 350,000 300,000 250,000 200,000 150,000 100,000 50,000 0 1/11 7/11 1/12 7/12 1/13 Hyundai Mipo Dockyard (W) 50,000 40,000 30,000 20,000 10,000 0 1 /11 7/11 1/12 7/12 1/13 Hanjin Heavy I&C Analyst such Certification The research analysts who prepared this report (the „Analysts†°) are registered with the Korea Financial Investment Association and are subject to Korean marketable securities regulations. They are neither registered as research analysts in any other jurisdiction nor subject to the laws and regulations thereof.Except as otherwise specified herein, the Analysts have logical not received any compensation or any other benefits from the subject companies in the past 12 months and have not been promised the same in direct connection with this report.No part of the compensation of the Analysts was, is, or will be directly or indirectly related to the specific recommendations or views contained in this report but, like all employees of Daewoo Securities, the Analysts receive compensation that is impacted by overall firm profitability, which includes public revenues from, among other business units, the instituti onal equities, investment banking, proprietary trading and private client division. At the time of publication of try this report, the Analysts do not know or have reason to know of any actual, material conflict of interest of the Analyst or korean Daewoo Securities Co. , Ltd.Information and pinions contained herein have been compiled from sources believed to be reliable and in good faith, but such information old has not been independently verified and Daewoo makes no guarantee, representation or warranty, express or implied, as to the fairness, accuracy, greater completeness or correctness of the information and opinions contained herein or of any translation into English from the Korean language. If this report is an English french translation of a report prepared in the Korean language, the original Korean language report may have been made available to investors in advance of this report. Daewoo, its affiliates and their directors, officers, employees and agents do not accept a ny liability for any loss arising letter from the use hereof. This report is for general information purposes only and it is not and should not be construed as an such offer or a solicitation of an offer to effect transactions in any securities or other financial instruments.

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