Religion and Ethnic Diversity Paper Essay Example for Free

Religion and Ethnic Diversity Paper Essay According to Grace Communion International, people of the black churches believed much like the European Americans. They shared the belief that God’s past dealings give light of future life. The black churches tend to see America as the land of captivity rather than the promise land. The black churches shared similar beliefs to other groups but they did not always see quite the same, black churches tend to hold church into the late afternoon and felt they should try to help all members of the church with all aspects of life, other groups did not hold church for many hours. The historically black churches took it upon themselves to care for blacks, not just spiritually but physically as well because they felt they were discriminated against. The churches made it their job to try to care for the people who had no one else to care for them. Many churches offered services to blacks and whites, even though they did this the blacks were still segregated from the whites. It was standard practice for things of this nature to be done before there were churches built specifically for them, some didn’t even allow their presence. The black churches received a lot of discrimination, hatred, and prejudice from the white community. Often times they were not treated equal to white people as they should have been. I feel that reading a little bit about the black churches has given me a lot more history on it but it has not really helped me to understand the religion more than I already did. I have visited a black church and while they do not believe very different they practice their religion very differently. Black of the African decent are otherwise known as African Americans differ from many other groups based on their hair, skin tones, physical appearance, and the way they talk. Black people even have beliefs about how children should be raised and cared for. They may have similar qualities of other groups but there are many more differences. African Americans have had many, many experiences with other groups and how they differ from them and what qualities they display. Blacks are often discriminated against by many groups for the choices they make and the beliefs they practice. Blacks as a group tend to keep to their own and mind their business. Blacks originally over from Africa bring many things to the American culture such as food, clothing styles, music and much more. The African decent in foods has altered spices and more, and clothing varies by pattern and style of clothing but both have made a rather large impact. For many years in history  blacks were made to be slaves and were bought, sold and bartered for in America and even other countries. They were enslaved for a very long time until the north and south finally went to war over the matter and they gained their American right to freedom. Blacks were also segregated from whites for many years. Blacks were very heavily discriminated against by many groups but especially whites. Whites made enslaving blacks very important in their lives, while whites were the main source of slave drivers, there were also very wealthy black people who chose to have black slaves. Blacks received discrimination from many directions. I feel that I already had a very fair amount of information on blacks and the discrimination and prejudice they have received in the past and continue to receive. Blacks are often not given enough credit for all that they have to put up with, but society in my opinion has lightened up tremendously. Prejudice and discrimination in historically black churches and blacks are very similar, they were made to remain segregated for many years, and they were also discriminated against by many especially the whites, both groups revolve around blacks which make the prejudice and discrimination very similar. The prejudice and discrimination that blacks and the historically black church differ in the fact that the churches were not enslaved. There are not that many differences due to the fact that the churches are for the blacks. There are far more similarities than differences in the groups. From my personal knowledge of these two groups I can conclude that blacks are mostly discriminated against by whites, especially further back in history. Other groups discriminate against blacks and the historically black church but whites much more commonly discriminate against them and are prejudice. The more time that passes the better the circumstances become between groups.

Personal Narrative- Girls Basketball Game Preparation Essay -- Persona

Personal Narrative- Girls Basketball Game Preparation Basketball seems to get into your blood. It is said by those who play, "You eat, you sleep and you play basketball." When I was a little girl all I wanted to be was a professional basketball player. I couldn't count how many times I pounded that dumb ball in our driveway until it was too dark to see, then I would play for hours more by the porch light. Now I realize that was only childish insanity. Back then they didn’t even have a girls’ profession basketball league in the states. However, that didn't stop me from walking away empty handed. One thing I learned was how to prepare oneself for life. Well, at least, how to prepare oneself for a game. "Offense, defensive rebound-all five. Fast break into secondary. Plays we can run; Motion, Mexico, and Jordan in man defense. Navy and Red against zone. Out of bounds plays; 88, 8 Stack, Box 1 and 2. Remember to offensive rebound, four and one," I said quietly out loud to remind myself while sitting on the sweaty locker room bench. "Now defense, I need to press, stop fast break, and box out. We can do man hard, man soft, zone 2-3 or 3-2." I went on rambling as I finished getting ready. "I can't believe this is our last home game," whined Mindy. Shannon added, "Yeah, the season flew by so fast this year," while tying her lace up. "Well, at least this isn't your last game. You guys all have another game to play," I complained as usual. "Hey, I see no one is twisting your arm off, making you go to Florida, where it is such a dreadful place, always sunny and warm. What a pity. I feel so sorry for you," my best friend Rachel said teasingly. Just then Coach popped her head in the locker room. "All right girls, you ... ...ft," Coach said as we hurried out of the health room. She was right. There was only half the time left. Warm ups seemed to fly by, and before I knew it there were only 35 seconds left on the clock. Murray's team had already headed for the bench for their coach’s last second instructions. "Let's bring it in girls," yelled Coach Moore from our bench. We all ran over not wanting to miss any important last minute words of wisdom from Coach. "OK, starters check in, you know who you are. As I have said, they are about equal in ability with us. We need to go out there and play our hearts out tonight, girls. Enjoy this, it is your last home game this season," Coach said. With that the Ref. blew his whistle to signal the start of the game. I, with the rest of the starters, walked out onto the court and got ready for the tip off, knowing I was completely prepared for the game. Personal Narrative- Girls Basketball Game Preparation Essay -- Persona Personal Narrative- Girls Basketball Game Preparation Basketball seems to get into your blood. It is said by those who play, "You eat, you sleep and you play basketball." When I was a little girl all I wanted to be was a professional basketball player. I couldn't count how many times I pounded that dumb ball in our driveway until it was too dark to see, then I would play for hours more by the porch light. Now I realize that was only childish insanity. Back then they didn’t even have a girls’ profession basketball league in the states. However, that didn't stop me from walking away empty handed. One thing I learned was how to prepare oneself for life. Well, at least, how to prepare oneself for a game. "Offense, defensive rebound-all five. Fast break into secondary. Plays we can run; Motion, Mexico, and Jordan in man defense. Navy and Red against zone. Out of bounds plays; 88, 8 Stack, Box 1 and 2. Remember to offensive rebound, four and one," I said quietly out loud to remind myself while sitting on the sweaty locker room bench. "Now defense, I need to press, stop fast break, and box out. We can do man hard, man soft, zone 2-3 or 3-2." I went on rambling as I finished getting ready. "I can't believe this is our last home game," whined Mindy. Shannon added, "Yeah, the season flew by so fast this year," while tying her lace up. "Well, at least this isn't your last game. You guys all have another game to play," I complained as usual. "Hey, I see no one is twisting your arm off, making you go to Florida, where it is such a dreadful place, always sunny and warm. What a pity. I feel so sorry for you," my best friend Rachel said teasingly. Just then Coach popped her head in the locker room. "All right girls, you ... ...ft," Coach said as we hurried out of the health room. She was right. There was only half the time left. Warm ups seemed to fly by, and before I knew it there were only 35 seconds left on the clock. Murray's team had already headed for the bench for their coach’s last second instructions. "Let's bring it in girls," yelled Coach Moore from our bench. We all ran over not wanting to miss any important last minute words of wisdom from Coach. "OK, starters check in, you know who you are. As I have said, they are about equal in ability with us. We need to go out there and play our hearts out tonight, girls. Enjoy this, it is your last home game this season," Coach said. With that the Ref. blew his whistle to signal the start of the game. I, with the rest of the starters, walked out onto the court and got ready for the tip off, knowing I was completely prepared for the game.

Autocratic Leadership Style Essay

Can an authoritarian/autocratic/directive leadership style be appropriate in American companies currently? If yes/no, why? It is first important to clarify what the term leadership means. According to Kinicki & Fugate (2012), â€Å"leadership is defined as ‘a social influence process in which the leader seeks the voluntary participation of subordinates in an effort to reach organizational goals’† (p. 364). This means leadership involves exercising authority at individual, group, and organizational levels. Bass (2008) identifies positive leadership traits to include task competence, interpersonal competence, intuition, traits of character, biophysical traits, and personal traits. With this basic understanding of leadership, it can be said that the appropriateness of an autocratic leadership style depends on the type of company and situation at hand—the idea of situational leadership (Kinicki & Fugate, 2012, p. 370). Even though the United States is a democratic country, an autocratic leadership style fits some but not all companies, depending on what the company wants to accomplish and what the company’s circumstances are. A manager with an autocratic style of leadership typically does all the decision-making without getting input from his/her subordinates (Rao, 2010, para. 3). Therefore, the manager is the authoritarian while all the subordinates are to simply follow instructions without giving their own thoughts or concerns about the task given to them. A benefit of this style is it can help provide structure and discipline to an otherwise inexperienced team, and also help a team stay on top of strict deadlines. Since the manager makes all the decisions, there is no time â€Å"wasted† on decision-making if there’s a time constraint. This type of leadership is also helpful when the manager has the highest amount of knowledge and could therefore specifically guide the subordinates on how to complete a task (Cherry), or when a type of industry simply does not require much communication or creativity relative to other industries. However, an autocratic style of leadership would be ill-fitting for many other types of companies, especially if the autocratic style is taken to extremes. As the textbook Organizational Behavior mentions, a bad leader would possess traits like being incompetent, rigid, or callous (Kinicki & Fugate, 2012, p. 366). Since a manager taking up an autocratic style of leadership is enforcing rigid rules, it could be potentially easy to become rigid as a person as well, which could lead to loss of respect from subordinates and ruin morale of the team. Cherry states that abuse of the style can make a person seem â€Å"controlling, bossy, and dictatorial,† and that this autocratic style of leadership prevents subordinates from producing creative solutions to problems. Giving employees such a lack of influence in the company could cause them to feel resentful since their opinions are never heard (â€Å"Leadership Styles,† 2008, para. 3-4), which means valuable relationships cannot be developed, thus straining human and social capital. An example of where an autocratic style of leadership would not be appropriate is if all the subordinates are just as knowledgeable or skilled as the manager. It would make more sense to use a democratic style of leadership so that everyone can participate and have a sense of importance in the decision-making, and because of their contribution, would feel more committed and enthusiastic about the company’s goals. Situational leadership theories suggest that â€Å"the effectiveness of a particular style of leader behavior depends on the situation.† This applies to how the appropriateness of the autocratic style of leadership depends on the company at hand. It is important to fully analyze the employee characteristics (locus of control, experience, task ability, etc.) and environmental factors (task structure and work-group dynamics) to decide whether or not an autocratic style of leadership would produce the most desirable results for the company (Kinicki & Fugate, 2012, p. 370-372). References Bass, B.M., & Bass, R. (2008). The Bass handbook of leadership. New York: Free Press. Cherry, K. Lewin’s leadership styles. About.com: Psychology. Retrieved from http://psychology.about.com/od/leadership Cherry, K. What is autocratic leadership?. About.com: Psychology. Retrieved from http://psychology.about.com/od/leadership Kinicki, A., & Fugate M. (2012). Organizational behavior: Key concepts, skills, and best practices. Boston, MA: McGraw-Hill Companies, Inc. Leadership styles: Autocratic leadership. (2008). Leadership-toolbox.com, pp. 3-4. Retrieved from http://www.leadership-toolbox.com/autocratic-leadership.html Rao, M.S. (2010). Is autocratic leadership relevant today?. Chief Learning Officer: Solutions for Enterprise Activity. Retrieved from http://clomedia.com/articles

A Different Perspective of Heathcliff - 866 Words

What is a traditional hero? In many works of literature, the author portrays a character that is faced with many difficult obstacles, in which the character often prevails and becomes a hero. The challenges, which the character undergoes, allows the reader to appreciate the character due to their bravery, courage, and their willingness to sacrifice. In Wuthering Heights by Emily Brontà «, many readers are able to view Heathcliff as a hero, but how? Heathcliff is not a traditional hero. In fact, the term Byronic hero, would fit Heathcliff’s description in every aspect. Now, what are the characteristics of a Byronic hero? In order to be classified as a Byronic hero, the character needs to display: a high level of intelligence, a troubled†¦show more content†¦Heathcliff becomes devastated and begins his outrage. â€Å" †¦I shall pay Hindley back†(65), begins Heathcliff’s long journey of seeking revenge on those who have mistreated him. Heathcliff find s revenge in two ways, hurting the children of those who have hurt him and obtaining the land of those who have mistreated him. Hindley becomes the first person to endure the revenge of Heathcliff. When Heathcliff returns to Wuthering Heights after his three-year period of separation, Heathcliff notices Hindley has a gambling and drinking problem. Hindley obviously runs out of money, which leads to Heathcliff offering to lend him money. This was all apart of Heathcliff’s intelligent scheme on acquiring Wuthering Heights because Hindley was not able to pay Heathcliff back his debt, which in turn handed Wuthering Heights over to Heathcliff. Shortly after Heathcliff’s new inheritance, Hindley passes away due to his drinking problem, which leads to Heathcliff’s next stage on getting revenge on the children. Heathcliff, takes in Hareton, and forces him to be a field hand and deprives Hareton of an education, the same way Hindley did to Heathcliff. Edgar Linton, becom es the next target of Heathcliff’s revenge. The first action of Heathcliff’s revenge towards Edgar, is marrying Edgar’s sister, Isabella. Heathcliff elopes with Isabella and treats her badly and is cruel to her and Heathcliff even hangs Isabella‘s dog.Show MoreRelatedHeathcliff Character Analysis848 Words   |  4 Pagesfrightened reactions to Heathcliff, including her own initial response, Heathcliff and Catherine’s interactions with the Linton family mark the first time the two children experience the reinforcement of Heathcliff’s inferiority—and, specifically, his inferiority in relation to his racialized features—outside of the home. As Catherine is taken into Thrushcross Grange, the Linton family is at a loss with what they’re meant to make of Heathcliff. Between Mr. and Mrs. Linton, Heathcliff is referred to byRead MoreExternal Crisis Throughout Wuthering Heights1518 Words   |  7 Pageson a journey of love and obsession, betrayal and revenge and a tragedy of wasted passion and lost potential. The book Wuthering Heights is told through the perspective of a written diary owned by a man, this man being Mr. Lockwood. In 1801, Mr. Lockwood rents the property Thrushcross Grange, a property owned by the mysterious Mr. Heathcliff of Wuthering Heights. Upon meeting Mr.Heathcliff, Mr. Lockwood is face with a brooding and mysterious man. After spending an eerie night in Wuthering HeightsRead MoreWuthering Heights By Charlotte Bronte1244 Words   |  5 Pagesand Lockwood give there own opinions of interest to the story, which creates for the audience a highly biased account of the story and its characters. Nelly’s role is to be Lockwood’s inside source of information and in doing so, she tells her perspective of the story which Lockwood takes and twists to his own invention. The audience is first approached with Lockwood as a narrator when the opening scene begins with the telling of the home that he has just approached: â€Å"Wuthering Heights is the nameRead MoreTragic Family Relationships in Wuthering Heights by Emily Bronte 1018 Words   |  5 PagesIntroduction: In 1800 Century, Catherine and Heathcliff grow up together at Wuthering Heights, Catherine family home on the northern English moors. Heathcliff arrives as a gypsy founding. Catherine father Mr. Earnshaw raises him as a son. Catherine is a strong and wild beauty who shares Heathcliff wild nature Alone together on the moors Catherine and Heathcliff feel as if they are soul mates. But to Heathcliff despair outside forces begin to pull them a part. After falling in love with CatherineRead MoreWuthering Heights by Emily Brontà «1111 Words   |  5 PagesIntroduction: Catherine and Heathcliff grow up together at Wuthering Heights, Catherine family home on the northern English moors. Heathcliff arrives as a gypsy founding. Catherine father Mr. Earnshaw raises him as a son. Catherine is a strong and wild beauty who shares Heathcliff wild nature Alone together on the moors Catherine and Heathcliff feel as if they are soul mates. But to Heathcliff despair outside forces begin to pull them a part. After falling in love with Catherine .She reject himRead MoreNever Give up on Love in Wuthering Heights by Emily Bronte694 Words   |  3 Pagesbitterness and vein. That is how Mr. Lockwood comes to pity and understand Heathcliff. By hearing this love story that Aservant who has lived through it to see it all happen tell him. Thou this foreigner (Mr.Lockwood) is yet alike with Heathcliff because they both share the aspect of not being true people of Wuthering Heights; for they have both come from other city. But in this story we are taking beyond this to understand why Heathcliff is such way. Lockwood is more social and is the person to start upRead MoreThe Meaning of Revenge within Wuthering Heights by Emily Bronte902 Words   |  4 Pages   Ã‚     Within â€Å"Wuthering Heights† there are two main narrators; Lockwood and Ellen also known as Nelly Dean. While Lockwood is the narrator to begin the novel, Nelly is the one who is explaining the love story between Heathcliff and Catherine to Lockwood   through her perspective. Since Lockwood is the one who is interested in knowing about this love story and Nelly is the one who recounts the story to Lockwood, it shows how revenge becomes a main theme of the novel. When Lockwood read CatherineRead MoreQuotes Of My Love For Linton 996 Words   |  4 Pagesâ€Å"It would degrade me to marry Heathcliff now; so he shall never know how I love him: and that, not because he s handsome, Nelly, but because he s more myself than I am. Whatever our souls are made of, his and mine are the same; and Linton s is as different as a moonbeam from lightning, or frost from fire.† ( Brontà «, ch.9) 2. â€Å"My love for Linton is like the foliage in the woods: time will change it, I m well aware, as winter changes the trees. My love for Heathcliff resembles the eternal rocks beneath:Read MoreWuthering Heights1634 Words   |  7 Pagesrevenge that is told from the neutral perspective of Nelly Dean to Lockwood. Nelly Dean was the maid to the Earnshaw and Linton family and was a neutral witness to the generational cycle of revenge and suffering. She tells the story of the Earnshaw and Linton families to Lockwood, the new resident of Thrushcross Grange, because he is curious of his neighbors residing in Wuthering Heights. Nelly Dean then begins saying that Hindley’s resentment for Heathcliff at the beginning of the novel is the triggerRead MoreThroughout a lifetime, only so much conflict could be bore upon oneself. There is always a1000 Words   |  4 PagesConflicts in books or stories could show what is going on in the real world or what an author is thinking and making up.In Wuthering Heights there could be two different conflicts man vs. man, with the conflict between Heathcliff and Edgar, as well as a conflict of man vs. self, with the inner conflict that Catherine faces in deciding between Heathcliff and Edgar. Every story has conflicts, similarities, literary devices, cultural happenings, and even more. The question to be asked is ‘Why?’, ‘Why is there

Financial Analysis Of Alapis Pharmaceutical Firm Finance Essay - Free Essay Example

Sample details Pages: 5 Words: 1645 Downloads: 1 Date added: 2017/06/26 Category Finance Essay Type Argumentative essay Did you like this example? ALAPIS SA, a Greek public pharmaceutical firm, employing 741 employees, is engaged in the manufacture and distribution of detergents and cosmetics, veterinary pharmaceuticals, nutritional supplements, animal accessories and organic products, as well as human pharmaceuticals, medical devices and health materials. The Company operates several subsidiaries that supply a variety of pharmaceuticals, medical equipment, and hygienic products to drug stores and hospitals. Animal feeds, pet food and accessories are some of the Companys veterinary product offerings. Don’t waste time! Our writers will create an original "Financial Analysis Of Alapis Pharmaceutical Firm Finance Essay" essay for you Create order ALAPIS S.A.s cosmetics and detergents product portfolio includes fabric softeners, bleachers and personal hygiene products, whereas the organic products segment contains agrochemicals, seeds, chemicals and aquaculture products. On June 10, 2010 Alapis implemented its strategy to focus on its core business Pharmaceutical segment and proceeded in the disposal of its non-Human Health activities, namely in Cosmetics and Liquid Detergents, Animal Health and Medical Devices sector. The CompanyÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€¦Ã‚ ¸s equity capital, as of the end of FY2010, amounted to ÃÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¡Ãƒâ€šÃ‚ ¬588.360.132, divided into two 245.150.055 shares (a decrease from 1.961.200.440 in a reverse split; pro rata one new share for every 8 existing ones), each with nominal value ÃÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¡Ãƒâ€šÃ‚ ¬ 2.40 (up from ÃÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¡Ãƒâ€šÃ‚ ¬0.30 of nominal value per share). The major shareholder of the firm, since December 2010, is Mr. Mario Al-Jebouri who controls 15.206% of the CompanyÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€¦Ã‚ ¸s total outstanding voting rights, and who, since February 2011, has been appointed the new Vice-Chairman (Non-executive member) of its Board of Directors. RATIO ANALYSIS Liquidity In Table 2-1 we can see first the change in the current ratio and quick ratio over the fiscal years 2008 and 2010. The significant drop of the current ratio in 2010 is attributed to the 47.13% fall in current assets over the previous year against a 119 % increase in current liabilities in the same year. Of the total decline in current assets the drop in inventory contributed 2.78 percentage points[1], while the fall in accounts receivable 29.67percentage points. The reduction in inventory and accounts receivable led to a decline in both the number of days of accounts receivable and the number of days in inventory increases. Then, we turn our attention to the basic three activity ratios; these ratios that measure the firms ability to convert different accounts within its balance sheets into cash. We can use these ratios in order to expresses the length of time (in days) that the takes to sell inventory, collect receivables and pay its accounts payable. Table 2-1 shows that the company, as its inventory turnover ratio fell, increased the number of days (from 18 days on 2008 to 70 days in 2010) it takes to convert its inventory to sales, either as cash or accounts receivable. This increase is attributed o the 264% increase of average inventory over the period 2008-2010. Table 2ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â€š ¬Ã‹Å"1: The Firms Liquidity Ratios 2009 2008 2010 Current Ratio 1,269 1,304 0,325 Quick Ratio 1,218 1,218 0,302 Receivable Turnover Ratio 2,21 0,95 0,91 Average days sales uncollected 165,20 382,62 403,16 Inventory Turnover Ratio 20,40 3,16 5,24 Average days inventory on hand 17,90 115,40 69,66 Payable Turnover Ratio 6,44 0,48 1,26 Average days Payable 56,64 753,55 289,15 Figure 2ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â€š ¬Ã‹Å"1: Activity Ratios for Alapis S.A., 2008-2010 Profitability We start our analysis of the firms profitability by looking at the most the most widely used measure of profitability, i.e. that of the return on equity (); this is defined as net income (i.e. profit after tax) divided by (average) common stockholders equity (Ross et al., 1999: 35). Table 2-2 shows the firms rapid deterioration of ROE from 2.82% in FY 2010 to the troublesome -84.59% in 2010. These results do not include and any figures for discontinued operations. Of course the main driver in the falling course of the return on equity was the falling profit margin (in Table 2-4 we see that financial leverage could not enhance the companys ROE; notice the significant increase in the firms debt-to-equity ratio). As we can see the profit margin plunged from 9.79% in FY 2008 to -310% in FY2010. Table 2ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â€š ¬Ã‹Å"2: The Firms Profitability Figures 2008 2009 2010 Profit Margin (%) 9,797 18,76 -310,00 Asset Turnover (%) 17,873 7,86 13,23 Return on Assets (%) 1,751 1,48 -41,00 Return on Equity (%) 2,812 2,46 -84,59 Figure 2ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â€š ¬Ã‹Å"2: Profitability Ratios for Alapis S.A., 2008-2010 This immensely negative figure for the profit margin was down of course to the impact of the 792.494.000ÃÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¡Ãƒâ€šÃ‚ ¬ worth of the impairment charge in FY 2010; that figure concerned only the continuing operations. Indeed, In application of the IFRS and specifically IAS 36, Alapis proceeded to the audit of impairment of the GroupÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€¦Ã‚ ¸s goodwill stemming from the acquisition of controlling interest at subsidiaries, the Group proceeded with an impairment of the goodwill related to intangible and tangible assets from continuing operations amounting to a total amount of ÃÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¡Ãƒâ€šÃ‚ ¬ 840,5 mil. which impacted the results for 2010. The magnitude of the impairment was affected to a great extent by the adverse changes of financial parameters and components such as the discount rate, the market risk factor, the systematic risk factor, all of which were affected by the global financial crisis and the impact on the Greek economy. It should be noted however that the majority of the impairment is attributed to the significant impairment of goodwill that was created in 2007 when Alapis was formed through the 4-way merger as well as the subsequent company acquisitions. Cash Flow Adequacy Table 2-3 shows that all cash flow multiplies decreased through time. This of course has to do with the fact that operating cash flow plummeted from ÃÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¡Ãƒâ€šÃ‚ ¬195,310,000 in 2008 to just ÃÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¡Ãƒâ€šÃ‚ ¬58,293,000 in 2010. If we leave aside the thorny year of 2010, the problem with the falling operating cash flow in 2009 is not to be found in the operating profitability (roughly the same in 2008 and 2009), but to the working capital charges. Specifically, the huge increase in trade receivables in 2009 (compared with a decrease in 2008) brought the operating cash flow down from ÃÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¡Ãƒâ€šÃ‚ ¬195,310,000 in 2008 to ÃÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¡Ãƒâ€šÃ‚ ¬97,065,000 in 2009. Table 2ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â€š ¬Ã‹Å"3: The Firms Cash Flow-Adequacy Figures 2008 2009 2010 Cash Flow Yield (%) 4,544 1,987 -0,065 Cash Flow to Sales (%) 44,514 37,276 20,235 Cash Flow to Assets (%) 7,956 2,931 2,676 Gearing Ratio Table 2-4 shows the firms hugely erratic interest coverage ratio, which is used to determine how easily the company can pay out of its operating income its interest expenses on outstanding debt. Notice how the firms ability to meet its interest expenses became questionable after FY2009. Clearly, the company cannot go one like that as a going concern; it must either reduce leverage or increase operating profitability. If we exclude from our analysis FY2010, the interest coverage ratio fell as the quite robust increase in operating profit (from 74,856,000ÃÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¡Ãƒâ€šÃ‚ ¬ in 2008 to 129,178,000ÃÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¡Ãƒâ€šÃ‚ ¬ in 2009) could not cover the immense increase in the firms (net) finance cost (from 294,000ÃÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¡Ãƒâ€šÃ‚ ¬ in 2008 to 51,436.000ÃÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¡Ãƒâ€šÃ‚ ¬ in 2009). One of the reasons accounting for the increase in finance cost is the increase in interest expense on non-current borrowings; this expense rose from ÃÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¡Ãƒâ€šÃ‚ ¬ 12,648,000 to ÃÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¡Ãƒâ€šÃ‚ ¬ 23,263,000 in 2009. Table 2ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â€š ¬Ã‹Å"4: The Firms Gearing Ratios 2008 2009 2010 Debt to Equity Ratio 0,606 0,664 1,063 Interest Coverage Ratio 251,040 1,511 -9,070 Market Strength Table 2-5 also shows very erratic investment ratios. At this point we need to clarify that in order to calculate the price earnings ratio we have divided the market price per share at the end of the fiscal year by the earnings over the last 12 months, while in order to estimate the dividend yield we have used the share price at the beginning of the fiscal year. As we can see from Table 2-4, the only decent fiscal year when it comes to the dividend yield was FY2009 when an investor who had bought shares of the company at the beginning of the year would have landed an 8.13% dividend yield. In 2008 the dividend yield was a non-existent 0.60%. This is attributed to the fact that in 2008 the companys net profits (after tax) were significantly reduced (by almost 46%), and as a result the companys management decided to distribute a dividend per share of 0.011ÃÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¡Ãƒâ€šÃ‚ ¬ against 0.025ÃÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¡Ãƒâ€šÃ‚ ¬ for 2007; this represent a 56% reduction in the dividend payout for the FY2008. For 2010 we see that the dividend yield was zero as the company distributed no dividend because of the losses incurred in the same fiscal year. The firms P/E is illustrative as to the growth prospects the market had attached to the firm. Specifically, by the end of FY2008 much investors were willing to pay ÃÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¡Ãƒâ€šÃ‚ ¬13.23 for ÃÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¡Ãƒâ€šÃ‚ ¬1 of  current earnings, while by the end of the next fiscal year that figure went down to ÃÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¡Ãƒâ€šÃ‚ ¬1.38 pay euro of earnings per share. This tenfold reduction in the P/E ratio, which occurred despite the fact that the companys earnings per share rose from 0.04 in 2008 to 0.33 in 2009, is indicative of how gloomy are the markets expectations with the regard to the growth prospects of Alapis. Table 2ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â€š ¬Ã‹Å"5:The Firms Investment Ratios 2008 2009 2010 Price/Earnings Ratio[2] 13,229 1,380 NA Dividends Yield[3](%) 0,608 8,136 0,000 FUTURE PROSPECTS The adverse conditions that prevailed throughout 2010 in combination with the stringent austerity measures Greece has taken as was expected took a toll on healthcare expenditure; this in turn significantly affected the domestic pharmaceutical sector. Right now the main problem the sector faces is overall delay of payments by the Greek State to the pharmaceutical companies, a problem that may further dent turnover and profit margins 2010 CONCLUSIONS The decrease in the companys turnover can be attributed to three factors. First, there was the reduction in the pharma prices imposed by the State during the 4th quarter of 2010. More specifically, in May 2010 the Greek state applied a horizontal price reduction on approximately 12,000 drugs. Second, as the pharmacies decided to destock in view of the new pricing environment that led to a lot of product returns to the Company. Third, the company decided to proceed with the sale of some activities. We may argue that the basic risk ahead for the company is the price risk, as the Greek State (according to L.3840/31.03.2010) is the price setter for a medicine produced, packaged or imported in the country; this price must not exceed the average of the three lowest prices of that particular medicine as sold within the European Union (EU) member states. This pricing system is expected to be to the detriment of the company s future as the GDP and labour costs in some EU member states, such as Bulgaria, Romania, and Poland, are 40% of the respective Greek figures, and as a result the price of the same piece of medicine is expected to be quite low in these countries.

The Evolution of Language - 1707 Words

The Evolution of Language The study of language is very intriguing once you start looking a little farther into it. I read through many books and sources to help make the history of language a little more clear and found many interesting ideas. I found that something as simple as the way you use your hand could shape the brain, language, and human culture (The Hand). I also found many sources on human evolution; and digging a bit deeper into this area showed me many thoughts and ideas I never even have thought about. The book that was most helpful in this area gave me many topics to think about. It had a few chapters in it that really caught my eye. It had historical views on this subject, a modern evolutionary theory,†¦show more content†¦This longer time period for humans essentially gives us about a 21- month gestation period. This pattern has been named the secondary altriciality. It is a fact that the human brain is about 3 times bigger than the apes brain. There is fossil evidence that could po ssibly show the expanding brain size and give insight on social organization, or more specifically, infant care. There are also many possible causes of brain expansion. A popular notion that has been around for a while is the hypothesis seems very obvious. The major difference between apes and humans is that humans made and used stone tools. The brain size growing to the amount of basically tripling in size is also coupled with an increasing complexity of tool technology (Human Evolution). There are now newer ideas that have been thought to be the explanation for this evolution. There have been laboratory tests done on apes and monkeys that showed they are very intelligent creatures, and then tests done in field studies that show the daily lives of these creatures are relatively undermanding. These findings bring up many questions and one particular question is, â€Å"What selective advantage does a high degree of intelligence confer on monkeys and apes?†. The answer to this question is primate social life. Language is a unique characteristic of humans (Human Evolution). There is fossil evidence and archeology that can help answer the â€Å"when did language evolve† questions. Another question that in just asShow MoreRelatedEvolution Of Language And The Brain1447 Words   |  6 PagesSchool. Deacon’s special interests include bio-cultural evolution, brain development, and biosemiotics. He has published 2 major books The Symbolic Species: The Co-Evolution of Language and the Brain† and â€Å"Incomplete Nature: How Mind Emerged from Matter† also coauthored several books and articles revolving semiotics. The book I will be mainly focusing on is The Symbolic Species, which tackles on his theory of the co-evolution of language and the brain. He has 3 tasks in this book first, differentiatesRead MoreThe Evolution Of Human Language2442 Words   |  10 PagesThe Evolution of language has been a subject of debate by many scholars for many years. Although there is no universal agreement on where language evolved, or how language evolved. In fact, the evolution of human language is an extremely vague topic, composed of many different theories and hypothesis, with very few instances of evidence to support them. Even though there is no universal consensus on the origin of language, many scholars can agree that language began by the use of gestures in primatesRead MoreThe Origin of Language in Human Evolution Essay1209 Words   |  5 PagesLanguage is a complex system evolved from animal cognition system not from animal communication, suggesting that only humans with complex brain system were capable of developing (Ulbaek, 1998). Whereas other animal species communicate through vocalised sounds, songs, or gestures specially primates such as apes. Similarly gestures and hand gestures were the form of communication used by early hominids, but Homo habilis and Homo erectus started to use vocalisations and decreasing the frequent use ofRead MoreThe Evolution of Second- and Foreign- Language Teaching1662 Words   |  7 PagesThe Evolution of Second- and Foreign- Language Teaching (The 19th and 20th Century and The New Era of Second Language Teaching) In his treatment of the historical developments in language pedagogy, Stern (1992) isolates three ways in which language pedagogy has aimed to renew and improve itself:1. Innovation through change in teaching methods; 2. Innovation through language-related sciences and research; 3. Technological innovation. 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Introduction to CPL Read MoreEvolution of the English Language and the Emergence of â€Å"World Englishes† 1228 Words   |  5 PagesEvolution of the English Language and the Emergence of â€Å"World Englishes† As technology is bringing the world closer together, increasing the contact between peoples of different languages and cultures, the English language has established itself as the tool for communication, becoming the lingua franca of today’s globalized society. This role that English has taken can be traced back to a unique evolutionary history that should be understood on two separate levels. This first level of evolutionRead MoreAcronyms, Idioms and Slang: the Evolution of the English Language.1225 Words   |  5 PagesAcronyms, Idioms and Slang: the Evolution of the English Language. Although the English language is only 1500 years old, it has evolved at an incredible rate: so much so, that, at first glance, the average person in America today would find most Shakespearean literature confusing without the aid of an Old-English dictionary or Cliffs Notes. Yet Shakespear lived just 300 years ago! Some are seeing this is a sign of the decline of the English language, that people are becoming less and less literateRead MoreEssay on Internet Speak: The Evolution of Language on the Internet3129 Words   |  13 PagesInternet Speak: The Evolution of Language on the Internet People everywhere with text message cell phones and online chat services are taking part in the evolution of language on the Internet. To the uninitiated this Internet lingo, or Internet Speak, can look like a completely different and utterly incomprehensible language. Some people claim it is a corruption or a decay of the English language, citing the notorious lack of capitals and proper punctuation or spelling. The truth about InternetRead More Language Follows Evolution of Jackson and Trewe Relationship Paralleling the Colonization to Post-Colonial Movement in Pantomime3124 Words   |  13 PagesLanguage Follows Evolution of Jackson and Trewe Relationship Paralleling the Colonization to Post-Colonial Movement in Pantomime The play opens on the edge of a cliff; anything can happen. Derek Walcott, a playwright from the Caribbean, lives his own life on the edge of a cliff. Walcott’s family placed strong emphasis on education and ancestry. His inherent duality, European and African, mirrors that of post-colonialism (Gilbert 131). It is this duality that Walcott tries to reconcile in his workRead MoreAnnotated Bibliography On Human Language1116 Words   |  5 Pages(2013). â€Å"Evolution of Human Language – A Biolinguistic, Biosemiotic and Neurobiological Perspective†; Language in India, ISSN 1930-2940 Vol. 13:6, June 2013. Prà ©cis by Samantha Sutton, December 2, 2015 TOPIC In this article there are several depictions of how language has come about and how language has formed not only in humans but in the animal kingdom as well. Nehal and Afzal use several other scholars work in defining their research on the topic of human language evolution. In the article

Product attribute Free Essays

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