Analysis Of Stopping By Woods On A Snowy Evening By Robert...

While Robert Frost is often portrayed as a regionalist poet, whose focus typically turns to the simplicity and beauty of the New England landscape, many of Frost’s poems have an underlying darkness; â€Å"Stopping by Woods on a Snowy Evening,† a seemingly simple glimpse into the beauty of a winter night, is in both content and form a metaphor for the contemplation of suicide. The title of the poem suggests a familiarity, with the narrator â€Å"stopping by† the woods, a neighborly phrase that suggests that he has been in this place before (Saunders). The woods symbolize death and oblivion, and as such, it’s implied that this is not the first time that the narrator has considered death and taking his own life. It is a sentiment echoed in the opening†¦show more content†¦The poet could have used the word longest in place of darkest, as they contain the same number of syllables, the with the stress in the same location, however Frost chose the word â€Å"darkest,† a word that carries heavier undertones. Therefore, the phrase is more likely symbolic of the feeling of deep depression. This stanza is symbolic of the narrator reconsidering his contemplated suicide as a decision that he should not make when he is in such a lonely place at such a dark hour. The horse â€Å"gives his harness bells a shake to ask if there is some mistake,† symbolizes the breaking of the spell, or the shaking of the conscience; it is the equivalent of shaking one’s head to remove unwanted thoughts (Norton 245). The horse, or the narrator’s conscience, is suggesting that he’s making a mistake. The harness bells are the only sound beyond the â€Å"sweep of easy wind and downy flake,† symbols of how simple and peaceful death would be with the term â€Å"downy† evoking the imagery of comfort (Norton 245). The stanza serves as a turning point in the poem, where the narrator’s conscience is louder than his desire to be lost within the woods. In the final stanza, the narrator reaffirms the temptation of the woods, the temptation of death, saying that â€Å"the woods are lovely, dark and deep,† a welcomed oblivion (Norton 245). However, he decides that he has â€Å"promises to keep,† other obligations in his life that he is unwilling to leave behind, evenShow MoreRelatedAnalysis Of Stopping By Woods On A Snowy Evening, By Robert Frost778 Words   |  4 PagesRobert Frost is a great American poet that mastered the art of eloquently imprinting his readers with an overarching idea, or theme, through his use of symbolic language, precise picture painting, and metronome rhyme and meter. Frost addresses many different themes across his poems, but sometimes has similar methods of displaying his themes; three of the most prominent are the crossroads of a decision in â€Å"Stopping by Woods on a Snowy Evening,† the battle between desire and hate in â€Å"Fire and IceRead MoreAnalysis Of Robert Frost s Poem Stopping By Woods On A Snowy Evening 923 Words   |  4 PagesIn Robert Frost’s poem â€Å"Stopping by Woods on a Snowy Evening† the speaker is traveling at night through the snow and pauses with his horse near the woods by a neighbor’s house to admire the snow falling in the woods. His little horse shakes his â€Å"harness bells†, questioning his sudden respite; perhaps indicating that this isn’t the destination of their journey. Throughout the poem, the speaker seems to be wrestling between obligations and desire. For example, he continues to stand near the woods attractedRead MoreAnalysis Of Robert Frost s `` Stopping By Woods On A Snowy Evening `` And `` Mending Wall ``1817 Words   |  8 Pages Robert Frost was an American poet born on March 26, 1874. Living to the age of eighty eight, Frost was able to become an accomplished poet in his lifetime, creating beautiful works of art through his words. In many of his poems one can find simila r themes that discuss intense feelings and ideas about isolation and loneliness in one’s life, such as in â€Å"Stopping by Woods on a Snowy Evening† and â€Å"Mending Wall†. Each of the following poems discussed will demonstrate that throughout Robert Frost’sRead MoreAnalysis of Acquainted with the Night and Stopping by the Woods on a Snowy Evening1471 Words   |  6 PagesResearch Paper first draft 16th Nov 2011 In a Dark Night, I Find My Answers. The two poems â€Å"Stopping By Woods on a Snowy Evening† and â€Å"Acquainted with the Night† written by Robert Frost are very similar to each other because of the simplistic form of language used and the uses of metaphors. When we first read the poem, it looks like an ordinary poem but once we go in depth and understand the meaning, it becomes so much more. Both of the poem has a very dark, gloomy and lonely setting with a reallyRead MoreEssay on Robert Frosts Life and Accomplishments1244 Words   |  5 Pagesâ€Å"In three words I can sum up everything I’ve learned about life: it goes on.† After a lifetime of ups and downs, Robert Frost said this quote. Most of his poems already shared his message, that life is not as easy as it may first appear to be. He used the simplicity of nature and vernacular speech to give his poems a casual mood, though underneath they display a much deeper meaning of life. These poems help to show people just some of the dif ficult things that will be faced in life, despite everythingRead MoreEssay about An Analysis Of Nature In The W606 Words   |  3 Pages An Analysis of Nature in the works of Robert Frost When reading poetry by Robert Frost the theme of nature is strongly present and persistent. Robert Frost uses the world around him to create a mystic feeling to his writings, almost giving the reader a sense of nostalgia. The influence of nature in Frost’s works creates a palette to paint a picture filled with symbolism for the reader to interpret. The nature in the poems makes the poem an intimate piece in which most readers can identify withRead MoreWinter: A Magical Time of Year809 Words   |  3 Pagesand the cold weather. Winter is a great time to just sit inside by a fire and read a book. The peace and quiet of winter is also what makes it one of the best seasons of the year. The analysis of the following poems â€Å"Now Winter Nights Enlarge† by Thomas Campion, â€Å"Stopping by Woods on a Snowy Evening† by Robert Frost, â€Å"Like Brooms of Steel† by Emily Dickinson, â€Å"Winter Morning† by William Jay Smith, â€Å"Winter: 10 degrees† by Barbara Novack, and â€Å"Winter Sunday† by Mark Wunderlich will show how they areRead MoreStopping by Woods on a Snowy Evening1900 Words   |  8 Pagesmore than capable of helping you achieve this is, †Å"A Sense of Place.† Among these poems the focus will be entirely placed on â€Å"Stopping by Woods on a Snowy Evening† by Robert Frost. He was born on March 17th in 1874 San Francisco, California. Frost’s mother was of Scottish descent and his father’s origin was English. This particular poem of his was written in 1922 when Frost was at the age of 48. There were several things which caused him to write the way that he did. Some of them occurred much earlierRead More Analysis of Robert Frost’s Stopping by Woods on a Snowy Evening692 Words   |  3 PagesAnalysis of Robert Frost’s Stopping by Woods on a Snowy Evening The poem, â€Å"Stopping by Woods†¦Ã¢â‚¬  speaks of a time that the author paused during a trip to simply enjoy the quiet and beauty of nature. During this short stop, he contemplates mortality and his life so far. Frost also cleverly uses the poems form and sounds to enhance the poem, to entice the readers senses, and immerse them in the scene. With repetitive â€Å"s† and â€Å"h† sounds throughout the poem one can imagineRead MoreStopping by Woods on a Snowy Evening, by Robert Frost Essay1383 Words   |  6 Pages Robert Frost uses metaphor and symbolism extensively in ‘Stopping by Woods on a Snowy Evening’, developing deeper and more complex meanings from a superficially simple poem. Frost’s own analysis contributes greatly to our appreciation of the importance of metaphor, claiming that â€Å"metaphor [is] the whole of thinking,† inviting the reader to interpret the beautiful scene in a more profound way. However, the multitude of possible interpretations sees it being read as either carefully crafted lyric

The Hunters Moonsong Chapter Six Free Essays

Cautiously, Matt felt along the path with his foot until he found grass, then inched his way onto it, holding his hands out in front of him until he was touching the rough bark of a tree. There probably weren’t too many people hanging around outside the main campus gate, but he’d just as soon have no one see him, blindfolded, dressed in his weddings-and-funerals suit and tie, and looking, he was sure, like an idiot. On the other hand, he did want whoever was coming to get him to be able to spot him. We will write a custom essay sample on The Hunters: Moonsong Chapter Six or any similar topic only for you Order Now It would be better to look like an idiot out in the open now and become part of the Vitale Society than to hide and spend the rest of the night blindfolded in the bushes. Matt inched his way back toward where he thought the gate must be and stumbled. Waving his hands, he managed to catch his balance again. He suddenly wished he had told someone where he was going. What if somebody other than the Vitale Society had left him the note? What if this was a plan to get him on his own, some kind of trap? Matt ran his finger beneath his sweaty too-tight col ar. After al the weird things that had happened to him in the last year, he couldn’t help being paranoid. If he vanished now, his friends would never know what had happened to him. He thought of Elena’s laughing blue eyes, her clear, searching gaze. She would miss him if he disappeared, he knew, even if she had never loved him the way he wanted her to. Bonnie’s laugh would lose its carefree note if Matt were gone, and Meredith would become more tense and fierce, push herself harder. He mattered to them. The Vitale Society’s invitation was clear, though: tel no one. If he wanted to get in the game, he had to play by their rules. Matt understood rules. Without warning, someone – two someones – grabbed his arms, one on each side. Instinctively, Matt struggled, and he heard a grunt of exasperation from the person on his right. â€Å"Fortis aeturnus,† hissed the person on his left like a password, his breath warm on Matt’s ear. Matt stopped fighting. That was the slogan on the letter from the Vitale Society, wasn’t it? It was Latin, he was pretty sure. He wished he’d taken the time to find out what it meant. He let the people holding his arms guide him across the grass and onto the road. â€Å"Step up,† the one on his left whispered, and Matt moved forward careful y, climbing into what seemed to be the back of a van. Firm hands pushed his head down to keep him from banging it on the van’s roof, and Matt was reminded of that terrible time this past summer when he’d been arrested, accused of attacking Caroline. The cops had pushed his head down just like that when they put him handcuffed into the back of the squad car. His stomach sank with remembered dread, but he shook it off. The Guardians had erased everyone’s memories of Caroline’s false accusations, just as they’d changed everything else. The hands guided him to a seat and strapped a seat belt around him. There seemed to be people sitting on each side of him, and Matt opened his mouth to speak – to say what, he didn’t know. â€Å"Be stil ,† the mysterious voice whispered, and Matt closed his mouth obediently. He strained his eyes to see something past the blindfold, even a hint of light and shadow, but everything was dark. Footsteps clattered across the floor of the van; then the doors slammed, and the engine started up. Matt sat back. He tried to keep track of the turns the van took but lost count of the rights and lefts after a few minutes and instead just sat quietly, waiting to see what would happen next. After about fifteen minutes, the van came to a halt. The people on either side of Matt sat up straighter, and he tensed, too. He heard the front doors open and close and then footsteps come around the van before the back doors opened. â€Å"Remain silent,† the voice that spoke to him earlier ordered. â€Å"You wil be guided toward the next stage of your journey.† The person next to Matt brushed against him as he rose, and Matt heard him stumble on what sounded like gravel underfoot as he was led away. He listened alertly, but, once that person had left, Matt heard only the nervous shifting of the other people seated in the van. He jumped when hands took his arms once more. Somehow they’d snuck up on him again; he hadn’t heard a thing. The hands helped him out of the van, then guided him across what felt like a sidewalk or courtyard, where his shoes thudded against first gravel, then pavement. His guides continued to lead him up a series of stairs, through some kind of hal way, then back down again. Matt counted three flights down before he was stopped again. â€Å"Wait here,† the voice said, and then his guides stepped away. Matt tried to figure out where he was. He could hear people, probably his companions from the van, shifting quietly, but no one spoke. Judging by the echoes their little motions produced, they were in a large space: a gym? a basement? Probably a basement, after al those stairs down. From behind him came the quiet click of a door closing. â€Å"You may now remove your blindfolds,† a new voice, deep and confident, said. Matt untied his blindfold and looked around, blinking as his eyes adjusted to the light. It was a faint, indirect light, which supported his basement theory, but if this was a basement, it was the fanciest one he’d ever seen. The room was huge, stretching into dimness at its other end, and the floor and wal s were paneled in a dark, heavy wood. Arches and pil ars supported the ceiling at intervals, and there were some kinds of carvings on them: the clever, twisted face of what might be a sprite leered at him from a pil ar; the figure of a running deer spanned one archway. Red-velvet-seated chairs and heavy wooden tables lined the wal s. Matt and the others were facing a great central archway, topped by a large ornate letter V made of different kinds of glittering, highly polished metals elaborately welded together. Below the V ran the same motto that had appeared on the letter: fortis aeturnus. Glancing at the people near him, Matt saw that he wasn’t the only one feeling confused and apprehensive. There were maybe fifteen other people standing there, and they seemed like they came from different classes: there was no way that tal , stooping guy with the ful beard was a freshman. A smal , round-faced girl with short ringlets of brown hair caught Matt’s eye. She raised her eyebrows at him, widening her mouth in an exaggerated expression of bewilderment. Matt grinned back at her, his spirits lightening. He shifted closer to her and had just opened his mouth to whisper an introduction when he was interrupted. â€Å"Welcome,† said the deep, authoritative voice that had instructed them to take off their blindfolds, and a young man stepped up to the central archway, directly below the huge V. Behind him came a circle of others, seemingly a mix of guys and girls, al clothed in black and wearing masks. The effect ought to have been over the top, Matt thought, but instead the masked figures seemed mysterious and aloof, and he suppressed a shiver. The guy beneath the arch was the only one not wearing a mask. He was a bit shorter than the silent figures around him, with curly dark hair, and he smiled warmly as he stretched out his hands toward Matt and the others. â€Å"Welcome,† he said again, â€Å"to a secret. You may have heard rumors of the Vitale Society, the oldest and most il ustrious organization of Dalcrest. This is a society often spoken of in whispers, but about which no one knows the truth. No one except its members. I am Ethan Crane, the current president of the Vitale Society, and I’m delighted that you have accepted our invitation.† He paused and looked around. â€Å"You have been invited to pledge because you are the best of the best. Each of you has different strengths.† He gestured to the tal , bearded guy Matt had noticed. â€Å"Stuart Covington here is the most bril iant scientific mind of the senior class, perhaps one of the most promising ones in the country. His articles on biogenetics have already been published in numerous journals.† Ethan walked into the crowd and stopped next to Matt. This close up, Matt could see that Ethan’s eyes were an almost golden hazel, ful of warmth. â€Å"Matt Honeycutt enters Dalcrest as a starting player on the footbal team after leading his high school to the state championship last year. He could have had his choice of col ege footbal programs, and he chose to come to Dalcrest.† Matt ducked his head modestly, and Ethan squeezed his shoulder before walking on to stop next to the cute round-faced girl. â€Å"Junior Chloe Pascal is, as those of you who attended last year’s campus art show know, the most talented artist on campus. Her dynamic, exciting sculptures have won her the Gershner Award for two years running.† He patted Chloe on the arm as she blushed. Ethan went on, passing from one member of their little group to another, listing accomplishments. Matt was only half listening as he looked around at the rapt expressions on the faces of the other candidates, but he got the impression of a wide range of talents, and that this was indeed a gathering of the best of the best, an assembly of campus achievers. He seemed to be the only freshman. He felt like Ethan had lit a glowing candle inside him: he, Matt, who had been the least special of his group of friends, was being singled out. â€Å"As you can see,† Ethan said, circling back to the front of the group, â€Å"each of you has different skil s. Brains, creativity, athleticism, the ability to lead others. These qualities, when brought together, can make you the most elite and powerful group, not only on campus, but throughout life. The Vitale Society is an organization with a long history, and once you are a member of the society, you are one for life. Forever.† He held up one finger in caution, his face serious. â€Å"However, this meeting is but the first step on the road to becoming a Vitale. And it is a difficult road.† He smiled at them again. â€Å"I believe – we believe – that al of you have what it takes to become a Vitale. You would not have been invited to pledge if we did not think you were worthy.† Matt straightened his shoulders and held his head high. Least remarkable member of his group of friends or not, he’d saved the world – or at least his hometown – more than once. Even if he’d just been one of a team then, he was pretty sure he could handle whatever the Vitale Society could throw at him. Ethan smiled directly at him. â€Å"If you are prepared to pledge the Vitale Society, to keep our secrets and earn our trust, step forward now.† Without hesitating, Matt stepped forward. Chloe and the bearded guy – Stuart – stepped with him and, looking around, Matt saw that every one of the pledges had moved forward together. Ethan came toward Matt and took hold of the lapel of his suit. â€Å"There,† he said, quickly pinning something on it and letting Matt go. â€Å"Wear this at al times, but discreetly. You must keep your involvement with the society secret. You wil be contacted. Congratulations.† He gave Matt a brief, genuine smile, and moved on to Chloe, saying the same thing to her. Matt turned his lapel up and looked at the tiny dark blue V that Ethan had pinned to it. He’d never thought much before about fraternities, or secret societies, or any kind of organization that wasn’t a sports team. But this, being the only freshman the legendary Vitale Society wanted, was different. They saw something in him, something special. How to cite The Hunters: Moonsong Chapter Six, Essay examples

Management Accounting Organizational Policies

Question: Discuss about theManagement Accounting for Organizational Policies. Answer: Introduction This study is based on the subject area of organizational change. This is a reflective report, where I am going to discuss about the key issues that affect the change and change process in an organization. Here, I am going to discuss on the basis of my personal experiences. After identifying the key issues, I will compare and analyze the effects of the change drivers and after that, I will explain, evaluate and apply the major theories, principles and concept of change. Identifying and Describing the Key Issues Affecting Change and Change Process I have experienced several changes at my workplace. These changes were of different types. Sometimes, the change was related to the organizational policies, sometimes, the change was related to the operation strategies and sometimes the changes were related to any other aspects of the business. However, in any type of organizational change, I have noticed that there are some common issues that affect the change and changing process in the organization. These key issues are employees resistance, conflict among the employees, Managements inefficiency to convey the need for change. I have noticed that due to the high resistance of the employees, it becomes very problematic for the management to implement the change at the workplace. Many of my co-workers at the workplace were unwilling to accept any kind of change in the organization. At the same time, in our organization, there was conflict among the employees. Due to that when one group of employees agreed to make change, the other group disagreed. It was very difficult for the management to make all the employees agreed. Apart from that, it has also happened that the management failed to convey the need for the change. Sometimes, I also could not understand why that change is taking place and I did not support the change. Analyzing and Comparing the Effects of Change Drivers During my work tenure, I have noticed several change drivers, like, technology, customers preferences, competitors strategies and availability of resources. All of these change drivers affected the change strategies of my organization. The organization, where I used to work was a retail organization in UK. Previously, the strategy of the organization was to promote its products through newspaper advertisement and sales promotions. However, due to the technological change and introduction of social media, the management decided to promote its products through Facebook. On the other side, In case of sales promotion activities, the company used to provide only 10% to 15% discounts. However, the competitors strategies of providing free gifts and discount up to 50% influenced our managers to change the existing promotional strategies. Previously, the customers were satisfied with only the grocery products, but nowadays, the customers look for vegetables, Utensils and other Kitchen related products within the single roof. Due to this, the management of our company changes the previous strategies and included more products including vegetables and the kitchen items in the product range. The management has changed its operational strategy and implemented the lean management system to maintain the availability of resources. Therefore, in all change cases, the change drivers affected the existing strategies of the company and helped the company to become more competitive in the market. Explaining, Evaluating and Applying Major Theories, Principles and Concept of Change As per my knowledge, there are different theories of organizational change and among all of the change theories, two are the most popular Lewins change theory and Stage theory. According to Lewins change theory, organizational change takes place by following three simple steps unfreeze, transition and refreeze. In the unfreeze stage, the organization needs to create the proper condition so that the change can take place. In the transition step, the change process takes place slowly and everyone is aware that the change is taking place. In the refreeze step, the new or change system is implemented. In case of the Stage theory, there are four stages involved. This is the modern version of Lewins theory. These four steps are as follows: Creating awareness regarding the problem and the available solution Taking decision for innovative strategies Implementing the changed strategies Institutionalization of the new strategies In case of our organization, the Stage theory has been adopted during any change. In our organization, the change has been taken place by following some core principles of organizational change. These core principles are as follows: The first principle is considering the humanity. Due to the organizational change at my workplace, the total working environment became different. So, at that time, the management considered and provided every little requirement of us, so that we do not feel any discomfort. The second principle was to start the change process from the top level. Our organization followed this principle because the change in the top level would influence the lower level employees to accept the change. The third principle was to follow the step-by-step procedure. This principle helped our management to bring the change in a systematic manner. The fourth principle was communicating the message properly. This particular principle helped the management to create awareness among the employees regarding the need for the change and the positive outcomes after the change. As per my understanding organizational change is a procedure that is followed to bring any kind of development or improvement in the organization. It is sometime very difficult for the management of the organization brings the change, but if the management follows proper theories and principles, then the organizational change can be brought easily. Conclusion During this study, I have identified that there are different issues that can affect the change and change procedure in an organization. I have also identified that there are several drivers of change like, technology, competitors strategies, customers preferences and many others. These change drivers also affected the existing strategies of the company, where I used to work previously. In that organization, I have noticed that the Stage theory of organizational change and some major principles of the same are followed. Bibliography Anwer, M., Hong, S.H.E.N., Abbas, Z. and Mir, F.A., 2015. The Effect of Employee Engagement Drivers on the Organizational Change Management Process.Journal for Studies in Management and Planning,1(10), pp.154-175. Cameron, E. and Green, M., 2015.Making sense of change management: a complete guide to the models, tools and techniques of organizational change. Kogan Page Publishers. Hornstein, H.A., 2015. The integration of project management and organizational change management is now a necessity.International Journal of Project Management,33(2), pp.291-298. Levanti, G. and Klein, L., 2016. Introduction to the JOTSC Special Issue on Leveraging Organizational Change and Knowledge Management to Address Environmental Complexity.Journal of Organisational Transformation Social Change,13(1), pp.1-4. Petrou, P., Demerouti, E. and Schaufeli, W.B., 2016. Crafting the Change The Role of Employee Job Crafting Behaviors for Successful Organizational Change.Journal of Management, p.0149206315624961. Pick, D., Teo, S.T., Tummers, L. and Newton, C., 2015. Advancing knowledge on organizational change and public sector work.Journal of Organizational Change Management,28(4).

Company Valuation Report Goodman Fielder

Introduction In this report, we have tried to present a comprehensive evaluation of Goodman Fielder Company. By considering the market and financial environment in which Goodman fielder operates, we have employed the use of several helpful tools to evaluate Goodman Fielder. Here, historical data on share returns, market returns and financial statements will be used to approximate the value of Goodman Fielder shares.Advertising We will write a custom report sample on Company Valuation Report: Goodman Fielder specifically for you for only $16.05 $11/page Learn More The calculated values will then be compared with the actual values of shares at the market. The period of our interest runs from 1st January 2006 to 2nd February 2012. The Du Pont approach has been used to compute for equity returns. Later on, we used the CAPM model to estimate for the required rate of return. We then considered the DDM model, the cash flow model, the earnings ratio model and th e price book ratio (Tobin 1969). These approaches have been helpful in understanding various facets (including price value and competitiveness) of the share pricing for Goodman Fielder (a major indicator of a company’s performance) (Viney 2009). Often, we found it necessary to identify a number of actions that can be undertaken by the management of Goodman Fielder to better the prospects of their company. Background Information Goodman Fielder is a food processing and retail company with base operations in Australia (Kenneth 1982). Among the products that are produced and marketed by the Goodman Fielder Company include bread, mayonnaise, milk, pizzas, cooking oils and pies (Kenneth 1982). The company ranks top among the main producers and distributors of food within Australia and the rest of the pacific Islands (Keown 2002). In New Zealand, it (Goodman Fielder) is the largest supplier of flour ands commercial fat to manufacturing industries (Oliver 2009). Thus, apart from bei ng a major producer and distributor of grocery commodities, Goodman Fielder is also a supplier of edible fat and flour to commercial food companies (Ross Sergio 2005). Many Australians love Goodman Fielder products; thus, the company has a good market segment here (Keown 2002). Goodman Fielder company employs more than seven thousand people within Australia and the larger pacific Islands region (New Zealand, Papua Guinea, New Caledonia and Fiji) (Oliver 2009).Advertising Looking for report on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Market Segment As we have seen, Goodman Fielder has a large and wide market segment. Geographically, Goodman Fielder’s market segment cuts across Australia and the pacific Islands region (Collins Kothari 1989). Goodman Fielder produces a variety of products that target various segments in the consumer market (Kopcke 1982). Among the most important segments here include baking, dairy market, fats and oils, and flour (Collins Kothari 1989). All of the mentioned segments fall within two major categories (Cuthbertson Nitzsche 2008). The first category can be described as one that consists of processed items that are ready for consumption such as packaged milk, bread and pies (Oliver 2009). On the other hand, the second category consists of items that need further processing before they can be supplied to local markets (Kopcke 1982). Such items, which are usually supplied to commercial food companies, include bulk flour and edible oils. Goodman fielder has always been among the two major large scale suppliers of food products in Australia (Cuthbertson Nitzsche 2008). Likewise, the company is the main supplier of edible oil and flour to commercial companies in New Zealand (Oliver 2009). Financial History Although the financial performance of Goodman Fielder has averagely been good for a long time (Rayburn 1986) (where the company has been giving good returns on its equity), the same cannot be said about its performance in the past five years (where our analysis of the company will focus) (Ali et al. 1995). The past five years have not been good for Goodman Fielder Company (Cuthbertson Nitzsche 2008). During this period, its (Goodman Fielder) profits have been decreasing steadily (Collins Kothari 1989). The share prices of Goodman Fielder have likewise been on a downward spiral (Cuthbertson Nitzsche 2008). Below is a chart showing the performance of Goodman Fielder’s shares over the past six years (Reilly Brown 2012). As it can be seen above, the shares of Goodman Fielder have decreased by more than a half in within the past six years (Ali et al 1995). Some stock market analysts are even expecting Goodman Fielder shares to even fall further in the coming months. While Goodman Fielder products remain popular within its consumer market, the company has been performing dismally (Ali et al. 1995).Advertising We will write a custom report sample on Company Valuation Report: Goodman Fielder specifically for you for only $16.05 $11/page Learn More An evaluation of Goodman Fielder financial statements over the past six years reveals a steady decline in revenues (Ali et al. 1995). A number of factors have helped to contribute towards the dismal performance of Goodman Fielder (Easton 1989). First, the recent years of the global economic crisis created a difficult environment for Goodman Fielder Company (Jorgenson 1968). The sales of Goodman Fielder products decreased as the market adjusted to the economic crisis to seek for cheaper food products from other producers (Atrill et al. 2006). Besides, many micro-scale competitors have emerged; thus, eating into the market segment of Goodman Fielder (Jorgenson 1968). The exports of Goodman Fielder have also been affected by the relative strengthening of the Australian dollar in relation to export markets (Kenneth 1982). Moreover, new inve stments in bakery by the company (Goodman Fielder) have failed to improve on returns (Atrill et al. 2006). The ever increasing fuel prices on the global market have coupled with other factors (such as increases in wage bills) to contribute in increasing production and operation costs for Goodman Fielder (Atrill et al. 2006). Such a direction has eaten into Goodman Fielder revenues; thus, contributing to its dismal performance (Easton 1989). More importantly however, the management of Goodman Fielder have been slow in reacting to the ever dynamic business environment of their company; thus, leading to the poor fortunes of their company (Edwards Bell 1961). While a large number of customers in Australia and the greater pacific Island region love Goodman Fielder products, the company has failed to solidify its market segment here (Atrill et al 2006). The poor performance of Goodman Fielder shares in the stock market is an indication that share investors are losing their confidence in the ability in its managers (Kenneth 1982). Unlike a number of her counterparts that have successfully emerged from the recent economic crisis (After shrinking during the global economic crisis, the Australian economy has been recording some growths from 2008) to expand their profits, Goodman Fielder is even performing worse at the moment than during the economic crisis period (Ross Sergio 2005).Advertising Looking for report on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More A number of objectives that have often been designed by Goodman fielder management to tackle the economic difficulties facing their company have so far failed to be fruitful (Atrill et al. 2006). The 2011 half year results indicate one of the poorest performing periods for Goodman Fielder in the past six years (The general performance of Goodman Fielder has generally been on a steady decline over the past five years) (Kenneth 1982). In the recent past, Goodman Fielder has at times been unable to pay dividends as a result of its decreasing cash inflows (Miller Modigliani). Obviously, there is an urgent need for Goodman Fielder to restructure and adapt to the current economic environment in its market (Koller et al. 2005). Such a direction can only be achieved by a creative, innovative, and a new management at Goodman Fielder (Edwards Bell 1961). As it will become clear in our analysis, the general performance of Goodman fielder has been way below her peer companies (Baker Powell 1 999). Even with the current progressive growth of the Australian economy (after a difficult economic crisis period), the performance of Goodman Fielder has failed to mirror the expanding Australian GDP (Expected to grow by about 0.8 percent this year) (Edwards Bell 1961). However, the outlook of Goodman and fielder cannot be concluded to be grim (Kopcke 1982). Let us not forget that there are millions of customers that love Goodman Fielder products (Fama French 2001). Much of Goodman Fielder’s future will however depend on the ability of its senior management to return the company where it was in the past decade (Miller Modigliani). With the expanding Australian economy, the possibilities of Goodman Fielder to expand its market share here are real (Baker Powell 1999). Moreover, the economies of pacific Island economies such as New Zealand, where Goodman Fielder has vast interest, have also continued to show a progressive growth; thus, presenting new opportunities for Good man Fielder to expand its markets in these areas too (Fama French 2001). However, as we had seen earlier, the onset of positive fortunes for Goodman Fielder is dependent on the ability of its management to deal with current difficulties and exploit existing opportunities in the market (Baker Powell 1999). Return on Equity Return on Equity is among the most important approaches that are usually utilised by investors to analyze a company’s profitability. Here, we will utilise the most recent returns (Half year returns for the period ending December 2011) data from Goodman Fielder Company to analyse its return on equity. Generally, a company that is able to produce high returns from its equities without accumulating large debts boasts of large cash flows (Baker Powell 1999). Thus, such companies can grow without new capital expenditures. Such an arrangement is useful for investors since they can withdraw funds from such a company and invest their withdrawals in other interest s (Fama French 2001). So as to understand important components on equity returns, we will employ the use of the Du Pont Model in analysing the equity returns of Goodman Fielder Company (for the period mentioned) (Beneda 2003). So as to give investors information on specific areas of interest, the Du Pont model has divided equity returns into three multiples: Net profit Margin, asset turnover, and Gearing Ratio (Kopcke 1982). Thus: Return on Equity = Net Profit margin*Asset Turnover* Gearing Table 1 below summarizes ROE’s for the past six years. Table 1: ROE YEAR Gearing ROE 2011 2.58 3.6 2010 2.78 2.8 2009 3.01 3.4 2008 2.9 4.3 2007 2.6 4.7 2006 2.2 5.6 An equity return of 3.6% is quite low (Fazzari et al. 1988). Such a rate is way below the acceptable average of about 12%. With such rates, investors will thus shy away from buying Goodman Fielder shares at the stock exchange; thus, a low demand for the company shares at the stock market (Beneda 2003). Such a direction explains why the stock prices of Goodman Fielder have been falling steadily at the stock market (Fazzari et al. 1988). In 2011, Goodman Fielder had a profit margin of 1.67 percent. Again, such a profit margin is quite low (Kopcke 1982). It therefore means that the company is making little profits from its revenues (Miller Modigliani). Besides, such a low profit margin is also an indication that there is currently a low possibility that the company’s (Goodman Fielder) management will affect profits to down spiral further (Beneda 2003). Since the profit margin is approaching one percentage point, a further decrease in profit margins is unlikely to result from the mismanagement of Goodman Fielder (Fazzari et al. 1988). It is therefore safer to invest in Goodman Fielder shares with a disregard of how the company’s management could lead to future decreases in profits (Lehn Makhija 1996). However, such a consideration cannot be used in isolation when identifyin g the potential of Goodman Fielder shares (Beneda 2003). During the half year period ending 31st December 2011, Goodman Fielder recorded an asset turnover of 83.5%. The asset turnover ratio is helpful in determining the capacity of a company in converting its assets to incomes (Black 1972). An efficiency of 83.5 % in converting assets to profits is quite acceptable (Fazzari et al. 1988). What however is of concern to investors is the low return on equity despite a leverage of 2.58 (Ohslen 1995). Such an arrangement means that Goodman fielder is relying on debts to generate its low return on equity at 3.6% (Fruhan 1981). Without debts, Goodman fielder would generate a return on equity of only 1.4%. Such an arrangement means that there is a low cash flow within Goodman Fielder; hence, explaining why the company has been facing difficulties in performance (Black 1972). Macro-Economic Factors The global economy is expected to expand slightly in the next few years after experiencing the recent economic crisis (Viney 2009). Here, developing economies like China will experience most growth. On the other hand, developed economies like Australia will experience a slight growth (the Australian economy is expected to grow by 2%). There is usually a strong relationship between economic growth and company growth. The growth prospects of Goodman Fielder Company in 2012 are thus positive. With a market in Indonesia and other Asia-Pacific economies (whose economies are expected to expand marginally), Goodman Fielder can expand her market further. At 2 to 3 percent, the expected rate of inflation in 2012 is within acceptable limits (Green et al. 1996). Australian customers will therefore have enough money to spend on Goodman Fielder products. With a leverage of 2.58, the financial performance of Goodman Fielder will heavily rely on interest rates. If interest rates increase, Goodman Fielder will spend more resources in financing her debt. On the other hand, a decrease in inter est rates will help to finance the expansion plans of Goodman Fielder. Indications at the moment predict a fall in interest rates to levels below 3%. Here, the prospects of companies with large borrowing, such as Goodman Fielder, will remain bright. Estimation of Goodman Fielder Shares CAPM Model The CAPM (Capital Pricing Model) model has for many years been a useful tool in calculating expected returns from shares (Lehn Makhija 1996). Although several economists have criticised the effectiveness of the CAPM model in analysing share returns, no alternative model has been developed to date (Black 1972). Generally, the CAPM model can be represented in the equation below: C= A+ ÃŽ ² (B-A) Where A is the risk free rate, B is the market return rate, ÃŽ ² is the coefficient of the premium rate, and C is the expected rate of return (Ohslen 1995). Our important responsibility lies in calculating beta for the capital pricing model (Black 1972). By observing the above equation, one can be ab le to see that it is an equation of a straight line; with a constant gradient and an intercept (Ohslen 1995). One can therefore be able to determine beta through the use of an appropriate graph that plots C against (B-A) (Fruhan 1981). Having obtained the historical share return indexes from dates 1st January 2006 to 2nd February, 2012, we calculated the monthly share return rates in an excel worksheet (Gozzi et al. 2006). Such rates were obtained by calculating percentage changes in the share returns of adjacent months, and then multiplying the result by 12 to obtain the annual rates of returns (Lehn Makhija 1996). Likewise, a similar procedure was employed to calculate the expected monthly returns of the share market from a dataset than contained monthly return values of shares (from dates 1st January 2006 to 2nd February 2012) (Bond Meghir 1994). The free market rates were obtained from the 20 year Federal Reserve rates (from the historical data of the United States treasury ra tes) (Gozzi et al. 2006). As we have been using in other data sets, our period of interest here is from 1st January 2006 to 2nd February, 2012. The frequency of the treasury rates that we used is monthly. The premium rate was then obtained by subtracting A from B (Lintner 1965). An appropriate graph was then drawn in excel where the rate of share returns was plotted against the premium rates (Lintner 1965). Our raw Beta is thus the coefficient of the premium rate, which (as shown below) was shown to be 0.9691. As it is usually suggested, our raw beta needs to be adjusted as below: 0.9691 (0.67) + 0.33 =0.979 Thus, we obtain an adjusted value of 0.979 as our new beta (Lintner 1965). In analysing the CAMP model, we used treasury rates from the Australian Reserve bank to proxy free market rates (Gozzi et al. 2006). Such a direction was informed by the stability of the treasury rates, and the very unlikely scenario of a default from the Australian government (Bond Meghir 1994). Many e conomists are confident in using the US treasury rates to represent free market rates (Liynat Zarwin 1990). Such rates are often approximated at 5 %( Liynat Zarwin 1990). However, it is useful to observe that in exceptional circumstances, treasury rates can decline (Liynat Zarwin 1990). Such a direction was observed during the recent economic crisis, and also during the early months of 2012. Here, treasury rates went even below 3% during some months. On the other hand, we employed the return value of the stock market to proxy the market return rate (Green et al. 1996). Since such a value is a representation of the average performance in market stocks, it may not represent a true picture of the market return rate (Green et al. 1996). Here, it would be useful to obtain the standard deviation on stock performance so as to understand whether the estimation that we have used is useful in representing market returns (Bond Meghir 1994). However, since such an approach would involve a c umbersome procedure of evaluating the performance of all listed companies in the share market, we simply used the total value of stock returns to calculate our assumed market return rate (Liynat Zarwin 1990). Considering the micro-economic factors that we have discussed above, we found it useful to split the financial performance of Goodman Fielder into four categories: Very strong GDP growth, strong GDP growth, flat growth, weak growth. The table below summarize our estimates. Table 2: Market Return for Different Conditions of Growth. GDP Market Return Estimate(%) Probability (%) Market Return (%) Very Strong ( 5%) 25 10 2.5 Strong (2-5%) 15 60 9 Flat (1-2%) 5 20 1 Weak (1%) -10 10 -1 Average 11.5 With an adjusted Beta, we calculated the current risk premium rate as follows. With a beta of 0.979, taking the current treasury rate (2.75% as obtained from the historical treasury rates), and assuming an average free market return of 5% (since most economist est imate that the premium rate varies from 3.5% to 6%, we take an average of 5%), the risk premium rate can be calculated as: A= 0.05+ 0.979 (0.05) = 9.9% The Dividend valuation Model can be represented as follows: Value= Expected Dividend/ (Return on equity-Growth rate) The table below summarizes returns for different conditions of economic growth. Table 3: Returns for different conditions of economic growth GDP Market Return (%) Risk Premium Required Rate Of Return Very Strong ( 5%) 2.5 -0.025 0.025525 Strong (2-5%) 9 0.04 0.08916 Flat (1-2%) 1 -0.04 0.01084 Weak (1%) -1 -0.06 -0.00874 Average (11.5) 11.5 0.065 0.113635 The discount rate is thus 9.9% and the last dividend payout was 2.5 cents per share (Liynat Zarwin 1990). We estimate a growth rate of 2%. As we had seen earlier during equity returns analysis, the ratio of profit margin was approaching 1%. Such a scenario implies that the management of Goodman Fielder will in future have a slight impact on future pro fit declines (Bond Meghir 1994). Since share prices have also declined to lowest levels, we can expect the share prices to stabilize and grow at a stabilized rate of 2% (Lone et al. 1996). We do not expect the shares to grow at a higher rate at the moment since the company (Goodman Fielder) will require a longer period of time to recover (Bowen et al. 1986). Table 4: DDM Approximations for Share Prices Year Growth Growth Rate Share 2012-2014 Slow Growth 0.02 0.639240506 2014-2016 High  Growth 0.08 2.736842105 2017 0NWARDS Stable  Growth 0.03 0.735507246 Thus, as shown in the table above, the current price for Goodman Fielder Shares is about 0.6392. This particular value is comparable with the market value that has been ranging from 80 cents to 40 cents in 2011. We can also calculate the implied growth rate by assuming that the stock prices for Goodman and Fielder are correctly valued (Lone et al. 1996). Here, with the greatly unstable Goodman Fielder stocks, the cha llenge would be in picking a historical value of the stock (Lone et al. 1996). We can select the sock value on 1st January, 2012 (Green et al. 1996). On this particular date, the stock was traded at 42.42 cents. Thus: 0.4242 = 0.025 (1+g/2)/ (0.099/2-g/2) Thus, implied growth rate is 0.019. Cash Flow Since Goodman Fielder does not always pay dividends, we can use cash flows per share (instead of dividends) to estimate its share value (Head 2008). The cash flow model is similar to the DDM model except that we use cash flows per share, instead of dividends, to calculate share returns. Based on our macro-economic assumptions, we think that Goodman Fielder will experience a slow growth followed by a stage of high growth, before settling at a steady growth. The table below presents approximations of the share price for the three stages above. Table 5  Price Earning Ratio and Price Book Value model Year Growth Growth Rate Share 2012-2014 Slow Growth 0.02 1.856865823 2014-2016 Slo w Growth 0.08 7.949978947 2017 0NWARDS Stable Growth 0.03 2.136501449 Price earnings ratio is useful in indicating the amount of money that investors are willing to spend for each dollar earned in the Goodman Fielder company. Dividing the formulae above by EPS (Earnings per share): Price earning ratio/EPS= Share market Price/EPS/ Earnings pet share According to the DDM: P = A (1+g)/(k-g). Dividing the formulae above by EPS: P/EPS = Payout Ratio (1+g)/(k-g). Thus, price earnings ratio is dependant on the following: the rate of growth, the required rate of return, and payout ratio. However, since the performance of Goodman Fielder has been very unstable, we will use the ratio multiplier to estimate the EPS of Goodman Fielder as shown below. Table 6: Approximated EPS Year 2011 2012 Market Price 0.639 Growth Rate 0.02 EPS 0.128 0.13056 Approx P/E Ratio 4.894301471 It is important to note that with the presence of many dynamics at Goodman fielder, the earning ratio has been changing constantly (Bowen et al. 1986). Price Book Ratio Likewise, Price book ratio = Equity market value/ Equity book value Price book ratio has been computed in the table below. Table 7: Price Book Ratio YEAR 2012-2014 2014-2012 2017 ONWARDS EBV 1754.4 1857.6 1771.6 EBVPS 0.8772 0.9288 0.8858 P/B 1.372253465 0.339369231 1.204338916 Discussion As we had seen, one of the main challenges that one is likely to face while evaluating a company like Goodman Fielder is the presence of many dynamics at play here (Head 2008). For example, data on stock returns for the past six years indicates a gradual dip in stock prices, which change on a continuous basis (Bowen et al. 1986). During our earlier analysis, we were able to observe a pattern of struggle and poor performance at Goodman Fielder (Chitou Ketz 1991). Generally, the overall trend of stock returns has been on a downward trend (Peasnell 1981). Although a number of catalytic activities have once in a while helpe d to stimulate the share prices to rise slightly, the general direction of the stock prices has been a dip (Head 2008). For example, on 6th January 2012, the stock prices for Goodman fielder rose by a third following a 10 percent acquisition of the company’s stake by Wilmer international limited (Ohlsen 1995). However, this particular rise of stocks was short-lived as share prices fell down again after some time (Bowen et al. 1986). Below is a graph showing an analysis of Goodman Fielder stocks in the past 18 months. As it can be seen, the performance has generally been poor. With such a trend, the Goodman Fielder shares have decreased their competitiveness in the stock market: hence, the observed dipping prices (Head 2008). The root mean square that was calculated by Excel’s regression was 0.19. As a result, about 19% of the risks that can be associated with Goodman Fielder are systematic (Peasnell 1981). Such Risks are related to trading activities at the stock mark et (Hitchner 2006). On the other hand, 81 percent of the risks that can be associated with Goodman Fielder are non systematic (Rappaport 1981). Such risks can be associated with the management of Goodman Fielder. From an analysis of the DDM model, we were able to obtain a stock price of 63.28 Cents (Chitou Ketz 1991). Such a value is comparable with the present value of the company’s stock at the share market (Hitchner 2006). However, it is still difficult to determine the accuracy of such a calculated value due to the volatile prices of the company’s share prices (leading to great variations in dividend payouts), which change constantly at the share market (Rappaport 1981). Still, the calculated value can hold for the period under which we evaluated the company (January 2006 to March 2012). On the other hand, our calculated value from cash flows was quite higher than the average share prices of Goodman Fielder (Chitou Ketz 1991). A possible explanation for such an a rrangement is the usual handling of large cash flows in companies that deal with perishables such as Goodman Fielder (Hitchner 2006). There is also a possibility of having taken wrong assumptions in our calculations, and, or errors in our computation (Jorgenson 1968). Due to a continual decrease in its share prices, the shares of Goodman Fielder could also be undervalued at the moment (Chitou Ketz 1991). In the last six years, the share prices of the (Goodman Fielder) company have decreased by over 50%. The management of Goodman fielder needs to develop innovative solutions that would steer their company back to the years of high profitability and high share capitalization (Rayburn 1986). Again, it is important to note that our understanding of the company from the models that have been evaluated above is limited (Scott 1992). Since such an evaluation is dependant on the usually speculative share market, we cannot depend on the company’s volatile share prices to arrive at ou r conclusions (Sainsbury 2010). Although many investors will use some of the methodologies that we have employed above to evaluate the potential of companies, their overall investments are usually based on speculation (Scott 1992). Still, since the performance of a company’s share price is proxy to the financial performance of a company, it can give us important information in evaluating a company (Sharpe 1964). The problem with shares like those of Goodman is that since they have been changing very gradually, it is difficult to associate specific share prices with the company’s performance (Sharpe 1964). The observed overall trend however has been a general decline in the price of the shares (Siegel 1985). Although the Dividends model approach has been useful in helping us to approximate a seemingly accurate value of Goodman fielder’s share price (based on comparison with other share prices), the cash flow system is a more accurate method of determining a compa ny’s share value (Sainsbury 2010). With a poor performance record that has recently streamed from the company (Goodman Fielder), the seemingly high price of shares that was approximated by the cash flow model indicates that the company is currently undervalued at the stock Market (Stewart 1991). In the direction of increasing its market share value, Goodman Fielder company needs to convince investors of its worth (Stiglz Weiss 1981). A robust and creative management will especially help in achieving such a goal (Stiglz Weiss 1981). Comment on Models We have used four different models to evaluate the financial performance of Goodman Fielder Company. These four models include the dividend valuation model, the cash flow model, the price earnings model and the price book value model. The value of Goodman Fielder share price that was approximated by the dividends ratio model is close to the stock performance of the company at the moment (Jorgenson 1968). t. Although the above mo del could have provided a useful approach in evaluating the share value of Goodman Fielder, a number of factors can compromise the accuracy of the DDM. As we have seen, the general performance of Goodman Fielder has been volatile, poor, and a bit unpredictable. It therefore means that the financial state of Goodman Fielder has been on a constant change (mostly in a negative direction). Dividend payouts from Goodman Fielder have reflected the unstable state of Goodman Fielder by changing constantly. Since we used the last dividend payouts to calculate the share price of Goodman Fielder (through the use of the DDM model), the price value that was calculated may not reflect the current state of Goodman Fielder. As it can be reflected in the 2011 half year a financial result, a lot has changed in Goodman Fielder since the last dividend payout. Moreover, with the current state of dismal performance, Goodman Fielder will likely avoid paying dividends payouts in the near future (as it has been doing lately); thus, presenting a difficulty in obtaining dividend values for feeding the DDM. Still, the main advantage that arises in the use of the DDM to calculate share values is the strong relationship that usually exists between share values and dividend payouts. However, for a company that has been moving in a difficult labyrinth like Goodman Fielder, it is not wise to use the DDM to calculate its share value (Collins Kothari 1989). For a company that is undergoing a crisis like Goodman fielder, the cash flow system is a more accurate method for determining the company’s share value (Sainsbury 2010). With a poor performance record that has recently streamed from the company (Goodman Fielder), it is wiser to rely on cash flows (rather than dividends) to calculate the share price of the company. Such a direction eliminates two major problems that were presented by the DDM; unsteady dividend payouts and lack of dividend payouts. As it is often the case, companies t hat are undergoing a crisis will prefer to reinvest resources than pay dividends (Stewart 1991). The cash flow model is therefore the best tool that can yield a more accurate and reliable value of a company’s share price than all the other approaches that we used. The share price of Goodman Fielder as per the cash flow model was much higher than the current share price of Goodman Fielder at the stock market (Ohlsen 1995). It is worth mentioning here that although the cash flow value was marginally higher than the stock value of Goodman fielder at the share market, the stock prices of Goodman Fielder have in recent years been performing better than the cash flow value. Here, the pointer of the cash flow value could be that the current share price of Goodman Fielder is undervalued. The calculated value of the earning ratio for Goodman Fielder is 9.2. This particular value is slightly different, but comparable with the 11 points value that has been approximated at the Bloomberg site. Our calculated price book value for Goodman Fielder Company is 1.33. Again, this particular value is different, but comparable to the 0.98 points value at the Bloomberg site. Although the price earnings ratio and the price book value are great in providing us with values that we can use to calculate share values for Goodman and fielder, they lack one important component in estimating share values-the future performance of Goodman and Fielder. Through the use of a growth rate, the DDM and cash flow models estimate the future performance of a company while estimating the current share value of a company. Conclusion During the past six years, the financial performance of Goodman Fielder has declined steadily. Such a direction has seen the company’s share value drop over the same period. While we obtained a yield from the dividends model that approximated the current value of shares at the stock market, the more accurate cash flows model yielded a value that was at least th rice the current share price. Since most stock investors like earning dividends, the stock market can thus value shares on the basis of dividend payouts (Strong Walker 1993). 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Strong, N. and Walker, M., 1993, â€Å"The Explanatory Power of Earnings for Stock Returns†, The Accounting Review, vol. 68, pp. 385-399 Tobin, J., 1969, â€Å"A General Equilibrium Approach to Monetary Theory†, Journal of Money Credit and Banking, vol.1, pp. 15-29 Viney, C., 2009, McGraths financial institutions, instruments and markets, McGraw-Hill Australia, Australia, pp 446-456 This report on Company Valuation Report: Goodman Fielder was written and submitted by user Shiloh Greene to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Livingston County Community Connect Event

Livingston County Community Connect Event Giving Back at Livingston Countys Community Connect Event Attorney Frank Cusmano and Law Clerk Daniel Dzierbicki engaged with the community and provided legal guidance at Livingston County’s 12th Annual Community Connect event this past Saturday at Howell Parker Middle School.As a one-stop-shop for a variety of important services and resources, including legal consultations, health screenings, baby items, books and more, the Community Connect is a highly-anticipated and valuable event.Yet, it is not only those receiving services that benefit from the event. Those involved feel privileged to meet with members of the community and make a difference.â€Å"We look forward to this event every year because it gives an opportunity to give back to the community.† Daniel said.The community is incredibly important to everyone at Disability Attorneys of Michigan, and is at the heart of everything Disability Attorneys of Michigan does.For many individuals and families, it can be difficult to apply for Social Security Disability or Supplem ental Security Income due to the complexities of the process. The event offers the unique opportunity for the community to meet with members of the Disability Attorneys of Michigan team and have their questions answered.â€Å"We take great pride in serving in the community and the Livingston County Community Connect provides us an opportunity to do just that. We had a great time speaking with everyone and providing legal assistance.†Disability Attorneys of Michigan  works hard every day helping the disabled of Michigan seek the  Social Security Disability benefits  they need. If you are unable to work due to a physical, mental, or cognitive impairment, call  Disability Attorneys of Michigan  now for a free and confidential legal consultation at  800-701- 5524.Let Michigan’s experienced Social Security Disability law firm help you get the benefits you deserve.Disability Attorneys of Michigan, Compassionate Excellence. Livingston County Community Connect, Liv ingston County Community Connect Event, Michigan Social Security Disability Lawyer, Social Security Disability Lawyer

Industrial Growth and Competition Essay Example | Topics and Well Written Essays - 500 words

Industrial Growth and Competition - Essay Example Moral hazard originated in the insurance industry where Insurance firms realized that by protecting their customers from risks, they might be encouraging risky behaviors. In cases where there are high potential claims, an insurance firm will charge higher premiums. A moral hazard exists in these situations (Winter 2013): Lack of shared information: One party may happen to possess more information than the other party. For instance, a company selling investments may be aware that it will not succeed in the next two years based on its performance. Investors investing in the firm due to lack of enough information may think that the company is doing well. Principal-agent problem: When an agent or insurance broker is not in alignment with the individual it represents, moral hazards can exist. For instance, an insurance agent may recommend a bigger policy if that is the way of getting a special bonus. In some situations, the membership of the Euro may cause some moral hazards. A country in the community may imagine that if it faces many challenges, the other members will bail it out. For instance, a state may decide to grow its debts knowingly. When Greece joined the Euro, it took advantage of low-interest rates because of its membership in the Euro. The low-interest rates encouraged the country to keep borrowing until it realized too late that the country had borrowed too much. Greece continued to borrow knowing that it enjoyed low interest rates because of its membership in the Euro (Dam & Koetter 2012). If an individual has not insured his house, it implies that he will suffer losses in case of burglary or fire. An individual will be compelled to be careful by installing burglar alarms and employ guards to evade any unexpected event (Jaspersen & Richter 2015). In case a house is insured for its full value, if any bad

War and peace Essay Example | Topics and Well Written Essays - 750 words

War and peace - Essay Example The Zionist argument is that they appeared in Palestine in the late 19th century with the intention of reclaiming their ancestral land. Jews purchased land and started putting up the Jewish community. Palestinian Arabs with violent opposition tried to force the Jewish out of the land, but the Zionist reacted with force to defend themselves. This same case exists up to date. The Zionist movement, from the start, desired to completely dispossess the indigenous Arab inhabitants so that Israel could be completely a Jewish state (Bennis 58). The land purchased by the Jewish Fund was in custody of the Jewish and could not be sold or leased to Arabs. The Arab population, as it became aware of the Zionists’ desires and intentions, it opposed further immigrations of the Jewish. The Arab population also opposed further sale of land to the Zionists. The sale of land to the Zionists exerted an immense danger to the existence of Arab community in Palestine. Because of the opposition, the w hole project of Zionist could not be realized without the backing of the British military. The Zionists did not mind about the real inhabitants of the land they believed in colonialist view that the rights of the original inhabitants did not matter. All that the Zionist wanted was total or partial entitlement to the land. On the other hand, the Arab’s opposition to the Zionists was not based on anti-Semitism, but on a reasonable fear of dispossession of their populace. Because of these two oppositions, the conflict continues. Palestine became an Arab and Islamic state by the end of the seventh century. Its boundaries and characteristics became known almost immediately. The occupants of the land at the time believed that they lived in a land known as Palestine. However, after the establishment of Israel in 1948, everything changed. The land, which the inhabitants of Palestine referred to as Palestine, part of it, was now Israel. The Palestine and the Israelis oppose each other regarding the land. Each group seeks to fight for the land, which they believe is theirs. This opposition increases daily and deepens as the two groups engage in the fight and kill one another’s group. The fight could have been halted a long time ago if there existed no opposition to the land. For a very long time, the ancient Arabs who have been existing on the land were the majority as the Zionist came to purchase land and establish their community. In this case, when the Arabs discovered the intentions of the Zionists of forcing out of the Arab community, the Arabs gained opposition to the move since they wanted to retain their ancestral land and at the same time, the Arabs were the majority. There was no way; the Arabs could have allowed a minor community to force them out of their inherited soil. On the other hand, the Zionist could not give up gaining ownership of the land for their benefit. As the two sides oppose each other, the conflict continues to exist between th e two communities (Tessler 73). According to the founder of Zionism, the aim of the Zionist was to split the penniless population, who were the Arabs, across the border through procuring employment in transit countries. The process of expropriating and removing of the poor was to be carried out circumspectly and discreetly. However, at