International Marketing Peugeot

The current strategy of Peugeot towards electric cars is clear : this is a new exponential market where there are a lot of market shares to gain. The motives of the company for internationalization can be divided Into two different kind of motives which are the proactive and the reactive motivations: * Increase the profits and realize economies of scale Gain new market shares * Improve its global vision and its brand image * Penetrate a new market with a lot of opportunities * Find an alternative to the very competitive French market which has less opportunities for car makers.Moreover, Californians are already aware of these new technologies which are well seen and appreciate. The launch of electric cars in North America could be a great opportunity for Peugeot, because it represents a new way of cars and it's becoming one of the main preoccupation of everyone who is preoccupied by the energy crisis ND the high price of oil. The second reactive motive concerns profit and growth goal s: going on a foreign market such as North America is a good way to increase profits and to make economies of scale.To launch its new car, Peugeot must take in consideration some other factors. In order to take the right decisions, the company will have to select the most adapted way to penetrate the green vehicles market; the acquisition method, the direct investment, the licensing, Joint venture technique or simply exportation. Each method has strengths and weaknesses but Peugeot Company has to find the en which will allow to increase profits while achieving economies of scale. This map shows us where Peugeot factories around the world. The most critical barriers are the politic and economic ones.American car manufacturers are helped by the U. S government. This can be very difficult for foreign companies such as Peugeot to be as competitive as companies as General Motors for example. This is about protectionism as the United States have a policy which favors US companies rather t han foreign companies. The second politic barrier is the problem of legislation which is not the same in France and in America. Moreover, the car must be adapted to the American rules and norms. Concerning the economic barrier, the most important is the problem of currency.Actually, if Peugeot chooses the exportation way to penetrate the market, the production would be in Euros and the sales in Dollars. That could be a problem in the accountancy, and a problem of higher costs of production than cost of goods sold. Moreover, the understanding of the distribution network in the United States will be another major barrier for Peugeot. They do have experience in selling cars abroad, they do export their cars in many countries across the world. However, the US market is quite different from other countries as no French manufacturer is currently exporting to the United States except Budgets with its luxurious car.Question 2: Examine the company's international competitiveness at the macro , mess The Peugeot international competitiveness consists in the three following levels: the macro, mess and micro levels. For the macro level, we'll use the Porter Diamond to analyze Peugeot national competitiveness. Then, the Porter Five Forces analysis will help us to analyze the competition in the car industry at the mess level. To finish, he Porter value chain will examine strengths and weaknesses of Peugeot on the micro level environment of the company.Macro Level In the car industry the factor conditions represent infrastructure, plants and human resources. Since the crisis in 2008, the French car industry has suffered from a decline in economic activity. Moreover, the cost of one hour of work in France being very high, the economic situation has not improved the competitiveness of Peugeot. Concerning the demand, the customers and the public opinion is concerned about car's quality and the respect of the environment. People have higher expectations doodads than in the past. T hat permits to our French car maker to reach new markets and to gain new market shares†¦. †¦. †¦.. †¦.. †¦.. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. Related and supporting industries show a vertical and horizontal integration in the French car industry, with suppliers and distributors present mainly in the European area. These networks are well distributed in the Europe†¦. . About firm strategy, structure and rivalry, the French market is highly competitive with French manufacturers such seepage's (the leader) or Citroen as well as foreign competitors such as Toyota, Fiat, BMW, Moreover, Chance is about external events which can affect the car industry economy.Many factors can have an impact on the number of car sold. For example, the high price of oil in France does not encourage people to buy a new car. More â€Å"chance† can generate important issues in the car industry, like unemployment, loss of money and loss of investments. New entrants : 2 The risk of new entrants is low because car industry requires high investments and high technology to compete on the market. It's a very tough challenge for a new competitors to enter this market but it is not impossible as big brand can invest in his direction such as in China for example where all the car makers are going.Buyers : 4 The buyers' power is very important as they have very high expectations, concerning quality and techniques. Moreover, even if cars are one of the main things that makes up an economy, if people have not money they will not buy cars. Suppliers : 4 Suppliers do not have a very important power of negotiation but they keep an important power as they can put pressure on delivery delays, which can be very difficult for the car company to handle. Moreover, the production depends on those suppliers.Substitutes : 1 Substitute of cars doesn't have a real impact or even doesn't really exist except common tra nsports such as the train or the airplane but it can not really be considered as substitutes. Peugeot is one of the main competitor on the French market. The company is focused on the middle-range target. Peugeot already have an international strategy as they are present in Asia, South America and Europe. To penetrate the American market, Peugeot should benchmark it, with analyzing which competitors he would have to face, but also with highlighting the difference of habits and knowledge.Thanks to this benchmark, they'll be able to have a global picture of the American market. The difference of habits in the USA is also a factor to consider as American customers don't have maybe the same expectations in terms of power, comfort, etc. It's necessary for Peugeot to have the â€Å"big picture† of what customers are expecting from these new kind of cars. Question 3: What economic and political barriers would impact the export of cars to the US? It will be not easy for Peugeot to be competitive with other US car maker which produces electric cars as well on their own market.Regarding the political barrier, rules and norms, which has to be adapted in order to fit the American market. Then, the economic barrier deals with the problem of currency. This raises the problem of cost of production for Peugeot in case if they export electric cars in USA. Indeed, the difference between Euros and Dollars is not for the benefit of Peugeot as they will have a higher cost of production compared to cost of goods sold in the American market. Question 4: What influence would culture have on the international marketing strategy? Use the models of Hefted and Hall as points of referenceThe culture is very influent in the internationalization strategy: the company penetrating a new market has to know the culture of the country, of the people and also how to manage it to make of this culture a positive point, and not something going against the company Power of distance: hierarchy is very present in the United States which makes the distance more important. A notion of distance is kept when people talk to you. Uncertainty avoidance: uncertainty is not common in the US, people don't like uncertainty. Something which has been planned, for an agenda for example, has to be followed.Individualism: the concept of individualism is very present in the USA and comes with social success and material wealth. Masculinity: More and more managers or directors are women, even if it depends on the field of activity. Masculinity used to be very strong a few years ago but now it's changing. The United States culture would be positioned in the Low-context part in the Hall's model. When talking to somebody, the communication and the sense of self and space are more informal compared to other developed countries. The way of managing business, hierarchy, etc. Is part of this low-context.The American culture is more likely to be † low context†, as business is business, everything and everybody is direct moreover when you talk about money. Question 5: What type of market entry modes should the French car manufacturer consider? Explain your reasons The first thing to do is to show the different types of market entry modes that Peugeot can consider in order to launch an electric car in the United States. Then, we The exportation Peugeot already experiences this system as they have a lots of factories in France and worldwide (eastern Europe, Asia, South America CB:map ).If Peugeot choose this solution to penetrate the US market it means that they will have to produce cars in France or somewhere else in the world and then export these cars to the United States. In the same time, Peugeot will not support high costs of idealization. The only costs associated to exportation are transportation, insurance for this transport, the exchange rate and import tax. Moreover, transport implies many risks of delays for example. A Joint venture Peugeot could create a Joint venture with an US car manufacturer like Chevrolet or Cadillac for example.That means that the two companies would have to create a new many that both companies share. This would enable the French company to penetrate the market easier as car industry in the United States are under State protection. Direct investment (FAD) or acquisition Peugeot could acquire assets in the United States with this method (plants, equipment, etc. ) and produce electric cars directly in the country where they will be sold. This solution solves the problem of exchange rate because as car will be produced in dollars and sold in dollars as well, there will not have fluctuations between currencies.Moreover, Peugeot will be able to control the chain from the ginning to the end, reducing manufacturing costs and delays. Licensing Peugeot also have the possibility to use licensing, which means the licensor sell the right to use intellectual property such as production techniques, patents, trademark, dra wings (intangible property). This indirect way of penetrating the US market has the advantage of requiring little investment with a high return on investment. The strategic alliance with a licensee could be the opportunity for Peugeot to enter this market without major issues.But Peugeot could lost revenues coming from manufacturing and marketing activities, for the benefit of the licensee. To conclude, Peugeot can choose between those 4 types of market entry modes: exportation, Joint venture, direct investment or acquisition and licensing. Exportation would be a bad choice if Peugeot Just wants to export its electric car to the United States. There are still too many risks regarding the fluctuations between euros and The better option for Peugeot is to consider the foreign direct investment or acquisition method as a real way to penetrate the market.This would allow Peugeot to control all the operation while getting closer to the consumers and knowing better the competitive environ ment. Even if it requires a high level of resources from the French company, the investment would be profitable as there is a huge potential for electric cars in the coming years. Question 6: What would be the limitations of acquisition as an entry strategy? The acquisition method can be risky as it requires a lot of investments to buy a new entity. If Peugeot doesn't have sufficient funds available, they can receive money from investors by selling shares for example.It may be also possible to raise funds or to issue stock options to get cash vastly. Moreover, there is a management limitation because everything would be engaged from France even if they hire American managers and it can be an issue to consider. Question 7: Describe the International Product Lifestyle and its implications for the electric / hybrid car models? There are 5 main steps in each product life cycle. Let's analyze them concerning the electric cars: Development phase: The time taken by innovation and Search ; Development to concept, design and create an electric car.Introduction stage: When Peugeot first electric car was presented in 2010 with the ion car. Growth: when it starts to be produced and sold for the mass market. Decline: When others competitors enter the market and take market shares or offer a better product. Peugeot is still in the introduction phase because the company Just started to sell its electric cars in France to rental cars company. They didn't decide yet to launch the product on the market but it should be launched in 2012. Question 8: Explain how exchange rates and inflation may affect the way you price the product?The exchange rates are quite interesting for France right now but Peugeot should be careful because the buying power is less important in America than in France as the Euro is stronger than the dollar. The price must be lower than the one in euros. Concerning the inflation, it could affect the price because it would mean an increase of the production co sts of the raw materials that are necessary for the electric car production. Inflation could also increase the unit price for a car which can be dangerous towards the customers.Question 9: Explain how personal selling may differ in the US from how it is used in France? Personal selling is an oral communication like a speech which happens when a salesman face a potential customer. In France, you let the customer act as he feels, you don't disturb him in the shop enter whereas in America you must keep taking care of him. If you're not, he feels less important and can decide to leave and buy no car and it would be only because of a failure in the personal selling.Question 10: What type of international marketing controls will the company require? Peugeot will have to use the benchmarking in order to compare performance against its other international competitors which sells also electric cars. Key areas are design, battery life, space and reliability. Peugeot will be able to improve it s cars' performance and features thanks to analyzing data from competitors and customers' expectations. Finally, we can say that the United States has a great potential for electric.Peugeot just started to sell its electric car in France and it would be reasonable form the company to wait until the end of 2012 to launch a car on the American market. That's why Peugeot must benchmark and study a lot the American habits, culture, legislation and economy, to see if they have a chance to succeed in this particular sector and country. Bibliography http://www. Peugeot. FRR http://www. Euros. FRR http://www. ]ornamented. Com Google pictures Peugeot annual report My own data as I did an internship in a Peugeot shop two years ago.

Efficiency and Collaboration Proposal

Efficiency and Collaboration Proposal Learning Team D: Terry Hooks, Dante Legare, Reginald Mitchell, Javier Sanchez, and Stephanie Wright University of Phoenix BIS/220 Lakeesha Seawood November 10, 2011 Efficiency and Collaboration Microsoft Excel to Microsoft Access Benefits in the Work Environment The benefits of using Microsoft Access in the work environment for the Party Plates Company would be the ease of creating â€Å"contacts, issue tracking, project tracking, and asset tracking,† (Software-Matters, 2011). This program would help the company by maintaining the current clients and customers previous orders, attach receipts, shipment orders, and any other documents directly to their profile. The company will be able to forecast future orders and share the information across the company using Windows SharePoint Services. Using this option will help the employees share information, back up the data, and will ultimately keep everybody working in a joint collaborative effort. Reginald Mitchell The excel spreadsheets that are currently being used work primarily off of memory. If the save icon is not clicked all work will be lost if the program is closed accidently. The same tragedy can happen if there is a power loss as well. The benefits of using access are it works primarily off of storage. The data that is entered is automatically saved and the database is updated. While using access more than one person can work on the same file at one time. Excel only allows one person to use the spreadsheet at one time. Stephanie Wright Information from Excel Excel Exported to Acces. Examples of Tables, Reports and Queries. Javier Sanchez Suggestions for Improvement The implantation of the Transaction Processing System will help the company to monitor, collect, store and process data generated from the daily transaction. This system will replace the antiquated system that is in place currently. Transaction processing system Transaction processing system Transaction Transaction Business database Business database Detailed reports Detailed reports Paper plates Paper plates The data that is collected from transactions are placed into batches. This system is called Batch Processing. Using collaborative software such as Peachtree by Sage (www. peachtree. com) will help the company manage their financial transactions. Using this software the company will have access to sales ledgers, purchase ledgers, sales order processing. Stephanie Wright Conclusion In conclusion, the Party Plates Company would have easier access to pertinent data. By manipulating fields and properly formulating the tasks required in an excel spreadsheet, the company can track what is needed in each department and apply it to its database more efficiently. The Party Plates Company can also quickly make reports from each department within the company. For example, if the Supervisor or Department Manager of the Human Resources Department wanted a report on all personnel that had missed more than five days of work over a three month period, excluding holidays, vacations, and maternity leave. He or she would simply access the database and simply click the required field to receive the answers desired for the report in particular. With excel alone; this would be more of a tedious task. With excel one could enter the data in fields and have such data imported to access to be stored. This helps every business because the data is saved and can be retrieved at a later date if necessary for reports, strategy building, and brain storming new products or projects. If a database is built with the proper parameters the product will be more conclusive for the task of the company, or a department within the company that the database is built. In summary the implantations of the various information systems will allow the company to operate more effectively. Dante L. LeGare Reference Software-Matters. 2011. Microsoft Office Access benefits. â€Å"Software-Matters†. Retrieved from http://www. software-matters. co. uk/microsoft-access-benefits. html.

Touch Screen Systems for Health Care Essay Example | Topics and Well Written Essays - 2000 words

Touch Screen Systems for Health Care - Essay Example It would serve as a vital tool within healthcare system. The Touchscreen kiosk would have several objectives that would mainly be for the benefit of the hospital and for creating greater awareness in patients so as to improve the quality of care. There would be some risks with the project including refusal from various quarters of the hospital to help with the delivery, improper location of the kiosks, sudden decisions taken by the management not to support the project, database/server failures, networking issues, power failure, poor hardware and software quality causing dysfunction periods, poor user interface, graphical designs, etc. The implementation costs of the TKIP would be around $500,000 with the running costs of $5000 per month. A revamp of the kiosk system would be planned every 3 to 4 years. The hospital has planned the implementation of the kiosks after a one year period when the procurement of resources, setting up network points and installing the kiosks, running the h ardware, developing the user interface and creating the content would be ready. The funding from the same would come from the IT budget that is print for the hospital. Internally and externally content management software would be required along with an interface to provide remote support to the various kiosks deployed in the hospital and in remote locations. In terms of scope, the customer expects to obtain greater knowledge and be able to make informed decisions regarding the healthcare. In this way, the customers can feel that they are fully in control of their body and, hence, the quality of services provided would increase. The entire project would be implemented by the Project Management Team which would work in coordination with the Department of Medical Informatics and Healthcare IT (DMIHIT) of the Hospital. The project proposed is for the implementation of touchscreen

Apply The Prescribed Ethical Decimation Making Model (P.30 ) Using The Essay

Apply The Prescribed Ethical Decimation Making Model (P.30 ) Using The case California Parks Department Scandal - Essay Example In his model, Cooper further explains the consequences of the individual decisions and alternatives. In fact, Cooper is very clear that the consequences are in four broad categories, that is, Moral Rule, Ethical Principle, Rehearsal of Defenses, and Anticipatory Self-Appraisal (Cooper, 2012). These are the virtues that an individual holds, in most cases they are propelled by religious convictions, evolution of the conscience, and the fear of being caught and being exposed. Lopez was faced with an ethical problem whose first alternative would have had a moral rule that he had a criminal record in the past and he in that he participated in hiding the parks funds. In whatever way the Lopez would try to justify his deeds, the moral judgment in either case would be that he be fired and prosecuted for having a hand in mismanaging public money. It was apparent that Lopez even had a share of the funds for himself. Ethical principles by far falls under the category of the outlined codes of conducts in this case those of a public officer. In fact, these codes are extensively spelt out in the constitution, which public officers must obey or else be prosecuted. It is expected that any public officer is conversant with these laid down guidelines. As such, Lopez acted contrary to the ethical codes he is expected to safeguard and uphold. Consequently, being delegated for such an office is an honor and the public officer is expected to serve the public’s interest first rather than act on personal gains. Lopez, has the alternatives named earlier, however, whatever alternative he chooses will lead to on ethical principle consequence; be fired from holding any public office and be prosecuted for acting centrally to the ethical codes knowingly. In this element the administrators is expected to asses and align the alternatives they have and this should be guided by the norms of the organization as well as the involved political forces. The results of cases that are

Business Report Essay Example | Topics and Well Written Essays - 1250 words - 1

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Gay Marriage Essay Example | Topics and Well Written Essays - 1000 words - 1

Gay Marriage - Essay Example It is relevant to take into account views of both antagonists and proponents of gay marriage. For example, Laura Kipnis claims that gay marriage is a logical continuation of relations among gay couples. Their emotional and psychological conditions should be united in the name of happiness. Moreover, gay marriage is often misperceived by the society, because attention is paid to sexual and intimate relations, but this type of relations is not considered as an option of adoption. There are a lot of orphans throughout the world and if there is a chance to provide those poor children with parents, why to take this option away from them? Analysis and Evaluation Jullian Rayfield gave a prompt answer to the question of gay marriage legalization. The article of the author named â€Å"New York State Senate Passes Marriage Equality Bill† (24 June, 2011) considers background information and reactions for gay marriage in the State of New York. Many years have passed since the first time g ays made an attempt to protect their rights and initiated a struggle for their love. Currently, gay marriage was legalized in the New York State Senate and this fact should be considered as victory of gays of America. This struggle occurred on the political background, though this issue is of a social and individual nature. Gay community received support from some political parties and it shows that modern politicians are open-minded and are ready for changes and blurring of limits of the modern society. Republicans supported legalization of gay marriage, because they would undermine democratic principles of their policies. It is possible to claim that harmonious society depends on harmonious members, happy individuals, which have a chance to live their lives with their beloved persons. Why not to have a child in the families of this type? As a rule, gays are loving parents and there are no objective reasons for preventing them from being parents. There are evident changes in the mo dern society and the institute of marriage reflects these changes as well. Heterosexual marriage has changed and the role of women is different from the one they had in the beginning of the 20th century. Gay marriage as a new social institution is still unstable, but it is possible to argue that this social phenomenon has a chance to survive in the modern society. Nevertheless, the fact that gay marriage is negatively accepted in the modern society cannot be denied. Thus, Bidstrup is focused on morality of gay marriage. There are many social stereotypes, which have been developed in the society for many years and gay marriage is often positioned as a morally perverted phenomenon, which is not appropriate even for the modern diverse society. This fact can be explained by considerations of gay marriage in emotional context, where the main emphasis is made on intimate and sexual relations of gays and not on their social roles (Bawr, 1994). Gays are perceived as abnormal or deviant indi viduals, which reach their satisfaction in a perverse manner. It is better to discuss an option of gay marriage as a socially beneficial phenomenon, when two beloved persons are able to contribute much to the development of the community and of the society as well. Moreover, gay marriage and adoption of children should be considered as socially favorable phenomena, because both these factors will create atmosphere of tolerance, patience and understanding in the society. It is possible to

SHOULD ETHANOL BE REQUIRED IN GASOLINE Annotated Bibliography

SHOULD ETHANOL BE REQUIRED IN GASOLINE - Annotated Bibliography Example It analyses various aspects of ethanol usage in vehicles. Even though, this article has not given a specific conclusion, it helps the readers to understand the pros and cons of using encouraging ethanol use in gasoline. It has quoted the opinions of formidable agencies like US Department of Energy to substantiate the arguments. This article Why is there ethanol in gasoline written by Jeremy Korzeniewski in 2009 mostly argues in favor of using ethanol in gasoline. This article analyzed only the consequences of using either 10 or 15% ethanol with gasoline even though the concepts like 85% ethanol use in gasoline are growing popularity at present. This article also analyses various governmental directions on ethanol use in gasoline. The comments received for this article are helpful for the readers to know more about the public perception about the ethanol use in America. 4. Madison, M. & Bruno T. (2011). Does ethanol-blended gasoline truly help your fuel economy? Retrieved from http://www.helium.com/debates/85358-does-ethanol-blended-gasoline-truly-help-your-fuel-economy/side_by_side This article appeared on Helium as written by two people; Maggie Madison & Tony Bruno. It starts with an ongoing poll result of the question Does ethanol-blended gasoline truly help your fuel economy? At the time of writing this annotated bibliography, only 30% of the participants said Yes to the questions whereas 70% said No. This article analyses the advantages and disadvantages of using ethanol in gasoline. This article also tries to answer the question; Is E85 fuel a scam or a solution? It help the readers to clear out many of their myths about ethanol use in gasoline This article was initially appeared in the Chicago Sun-Times on January 27, 2007. It was written by Jerry Taylor and Peter Van Doren. This article mostly argues against the usage of ethanol in gasoline. It tries to discard some of the prominent claims of

Detailed Analysis of Common Law Cases Assignment

Detailed Analysis of Common Law Cases - Assignment Example Boots Cash Chemists (Southern) Ltd. [1953] 1 QB 401. In this case, the court held that a seller of pharmaceuticals in a shop is not making a valid offer to the customers of these pharmaceuticals, and that, when a customer picks up a pharmaceutical and brings it to the counter, that customer is not making an acceptance. Fisher v. Bell [1961] 1 QB 394 further states that a shopkeeper offering an item for sale is not making a valid offer, but, rather, when the customer presents the item to the cashier, the customer is the one making the offer to buy. The acceptance, in this case, is the act of the cashier taking the customers money. Partridge v. Crittenden [1968] 1 WLR 1204 further provides credence for this view, as, in the Partridge case, the offer of birds for sale was not a valid offer, in part because the storekeeper might be contractually bound to sell items that he might not actually own. This line of cases establishes that Doris did not make a valid offer (rdi.co.uk.com). She put a vase in the window of her shop with a sign stating that the vase was on offer for  £500. Unless she was making a different kind of advertisement where she offered to pay somebody money in exchange for something else, as was the case in Carlill v. Carbolic Smoke Ball Co. [1893] 1 QB 256, the seemingly only exception to the rule that advertisements are not considered offers, then Doris cannot be said to have made a valid offer. Even if Doris was held to have made a valid offer, then Frank cannot be held to have made a valid acceptance, as he offered  £400 for it. He was thus making a counteroffer, because of the â€Å"mirror image rule,† which states that an unequivocal acceptance must mirror the offer exactly, and any deviation made by the offeree to the offeror is a counteroffer (rdi.co.uk.com; Restatement 2d Contracts  §59a).

GRAMMAR PROJECT 2- Analysis of Internet Resources Research Paper

GRAMMAR PROJECT 2- Analysis of Internet Resources - Research Paper Example Other than nouns and articles, ESL students may also find it difficult to avoid usage of passive voice, a grammar structure discussed further in this paper. The first exercise is from http://www.world-english.org/articles.htm. The basic rules for using articles are clearly outlined. First, articles fall under two categories, that is, definite and indefinite. â€Å"A† is an indefinite article used before nouns describing non-specific objects or one object in a group of many, which begin with consonants (World English, 2004). Examples given include: Other rules provided by the exercise expressly state that articles should not be used with names of states, provinces or natural features, unless they are referring to a collection of the mentioned items. Additionally, articles should not be used when speaking about items in general. The principal purpose of this exercise is to enable learners to distinguish between definite and indefinite articles, as well as, to determine the article to use with specific nouns (World English, 2004). This is achieved through extensive use of credible examples. There are also exercises that give direct answers, enabling the learners to practice lessons learned about articles. The second article came from http://ehlt.flinders.edu.au/education/iej/articles/v5n5/miller/paper.pdf. The article begins by recognizing the fact that the use of articles is largely problematic for non-native English speakers. The principal factor to consider in usage of articles is the category under which nouns fall as either countable or uncountable. Indefinite articles (â€Å"a† and â€Å"an†) can therefore be used with countable nouns but not the uncountable ones (Miller, 2005). The article is free of grammatical errors and spelling mistakes, thus placing emphasis on its accuracy and credibility. Additionally, the resource gives detailed results of exercises done by ESL students showing their

Ethics in computing or Data Protection Act Research Paper

Ethics in computing or Data Protection Act - Research Paper Example This requires safeguarding data through viable planning. This may require data reliable data back up and protection. These protections required for data are regulated by the data protection Act (1998). While these Acts seemed comprehensive at the time of legislation, they have come to show that there are a number of loop holes that can be exploited by various interest groups to achieve their ends (Strobl, Cave, &, Walley, 2000). According to Strobl, Cave, &, Walley, (2000), data protection is a regulation that places me in an awkward position while doing my project on data bases. This act made it very important for me to ensure I introduce structures geared at protecting the information of the data subjects. To ensure that I never contravened the data protection Act or anybody using the databases does not override the data protection act, I ensured that the available controls provided by the existing file systems are upgraded and if possible combined to improve the level of security of the data (Per Arne Godejord, 2008). While this was not only focused on ensuring that the data inside were protected and that the data subjects rights are upheld, I had to ensure that I had in place proper structures for Access control and auditing. However, I had to come up with plans to ensure that the authentication and encryption processes are always up to date. Updating the programs helped me maintain the integrity of the files. Though it is a requirement of the data protection act to ensure that, the personal data are fairly processed. I had to ensure that I carried out a vulnerability assessment and compliance. This is in line with the requirement of that Act that any personal data be processed in fair and lawful manners. Vulnerability assessment and compliance is important in ensuring that data are not processed against the wish of the data subject. After assessing vulnerability, I also configured

Importance of Demand Analysis to a Business Enterprise Essay Example for Free

Importance of Demand Analysis to a Business Enterprise Essay Importance of demand analysis to business enterprises.They are the source of many useful insights for business decision making.The success of failure of business firms depend primarily on its ability to generate resources by satisfying the demand of consumers.The firms unable to attract consumers are soon forced out from the market. The importance of demand analysis in business decisions can be explained under following headings: Sales forecasting :The demand is a basis the sales of the production of a firm. Hence,sales forecasting can be made on the basis of demand.For example,if demand is high,sales will be high and if demand is low,sales will be low.The firms can make different arrangements to increase or reduce production or push up sales on the basis of sales forecast. Pricing decisions :The analysis of demand is the basis of pricing decisions of a firm.If the demand for the product is high,the firm can charge high price,other things remaining the same.On the contrary .If the demand is low,the firm cannot high price.The demand analysis also helps the firm in profit budgeting. Marketing decisions:The analysis of demand helps a firm to formulate marketing decisions.The demand analysis analyses and measure the forces that determine demand.The demand can be influenced by manipulating the factors on which consumers base their demand on attractive packaging. Production decisions:How much a firm can produce depends on its capacity.But how much it should produce depends on demand.Production is not necessary if their no demand.But continuous production schedule is necessary if the the demand for the production is relatively stable.If the demand is less than the quantity of production,new demand should be created by means of promotional activities such a advertising. Financial decisions :The demand condition in the marker for firms products affects the financial decisions as well.If the demand for firms product is strong and growing,the needs for additional finance will be greater.Hence,the financial manager should make necessary financial arrangement to finance the growing need of the capital.

The Army as a Profession of Arms Essay Example for Free

The Army as a Profession of Arms Essay As the Army transitions from the battlefields of Iraq and Afghanistan, the organization is well served to take a long look in the mirror. After ten plus years of deployments, our combat tested warriors are sure to possess more than enough valuable knowledge to reinforce and improve upon our status as a profession. A Tracdoc  published paper explains â€Å"to be a professional is to understand, embrace, and competently practice the expertise of the profession. † I believe the profession of arms exists and there are many components that reinforce this argument. Among these components, initial entry training and institutional learning, shared values, and a monopoly on our mission are three of the most important tenants. All Soldiers must graduate from Basic Combat Training and all officers must graduate from a commissioning source. Similar to medical school or law school in other traditional professions, these schools set the foundation for years of practice that will lead to expert work. From the first day in these schools, Soldiers are taught the seven Army values and the Soldiers creed. Comparable to the Hippocratic Oath, these words set basic principles all Soldiers must live by. Last, no other organization has the knowledge, material, or will to ensure national defense and security. The Army’s unique and expert work ensures it is a profession in the truest sense of the word. First, the Army provides specialized training and qualifications for its members. This initial training starts with BCT and a commissioning sources and continues through Advanced Individual Training for enlisted and the branch specific Basic Officer Leader Courses. Starting at the beginning of IET Soldiers are basically apprentices. All share knowledge common to members but unique to our organization. NCO’s and Company grade officers could be looked at as Journeymen. Have proven skills and knowledge. Senior NCO’s and Field Grade and Senior Officers are Master’s. All are professions but on different training paths. Also, Soldiers continue to qualify in the form of Military Occupational Specialty training, Army Physical Fitness Tests, and weapon qualifications that demonstrate a members potential for service throughout a career. According to Tracdoc commander General Robert Cone, it takes â€Å"years of hard work to reemphasize training and doctrine and years of individuals seeking to professionally improve themselves and the profession† to reach the desired end state of masters in the profession of arms. Second, the Army is governed by two related ethos. On the first day of initial training Soldiers are taught the importance of the seven Army values and begin to memorize the Soldier’s Creed. Like doctors and lawyers, â€Å"the military is an expert group, charged by its client to conduct work governed by a professional ethic† according to Lieutenant General Robert Caslen. A recent study commissioned by the Army found that 93% of Soldiers share their personal with the one set by the Army. Again, according to Caslen â€Å"the Army Values have sustained our institution through some of our most difficult years and will continue to be the foundation of our profession. † Last, no one else can provide national level security. A monopoly on the expert work that is to be performed is true of all professions. Caslen states that the American people â€Å"expect us to stand in the gap between the evil that is out there and our Nation’s values and our citizens themselves†¦Ã¢â‚¬ . This overwhelming charge is true to the profession of arms and can only be expected of experts in our given field. In conclusion, I believe the United States Army is a profession led by masters who are constantly training and mentoring expert replacements who execute their mission with the core values that have guided us for years. According to Brigadier General Sean MacFarland, â€Å"when we examine the key attributes of our profession, we can never lose sight of this underlying truth, because it sets us apart from all others. †

Advantages And Disadvantages Of Paging And Segmentation Computer Science Essay

Advantages And Disadvantages Of Paging And Segmentation Computer Science Essay To use the processor and the I/O facilities efficiently, it is desirable to maintain many processes, as possible, in main memory. In addition, it is desirable to free programmers from size restrictions in program development than to restrict them with small sizes (that happened in the older computers). The restriction to a predefined size redirects the programmers effort from the use of better programming techniques to a continuously effort to make fit in that size a solution, not necessarily the optimal one. The way to address both of these concerns is virtual memory (VM). Virtual memory systems are an abstraction of the primary memory in a von Neumann computer. Even in a time of decreasing physical memory costs, contemporary computers devote considerable resources to supporting virtual address spaces that are much larger than the physical memory allocated to a process. Contemporary software relies heavily on virtual memory to support applications such as image management with huge memory requirements. (Sami Hamed ,2007) . 1.1 Implementing Virtual Memory To basic approaches to providing virtual memory are: paging and segmentation. Paging. With paging, each process is divided into relatively small, fixed-size pages. Paging systems transfer fixed-sized blocks of information between primary and secondary memories. Because of the fixed pages size and page frame size, the translation from a binary virtual address to a corresponding physical address is relatively simple, provided the system has an efficient table lookup mechanism. Paging systems use associative memories to implement page translation tables. Paging uses single-component addresses, like those used to address cell within any particular segment. In paging, the virtual address space is a linear sequence of virtual address (a format that differs from the hierarchical segmentation address space. In a paging system, the programmer has no specific mechanism for informing the virtual memory system about logical units of the virtual address space, as is done in segmentation. Instead, the virtual memory manager is completely responsible for defining the fixed-s ize unit of transfer the page to be moved back and forth between the primary and secondary memories. The programmer need not be aware of the units of virtual address space loaded into or unloaded from the physical memory. In fact, the page size is transparent to the process. ( Philip ,1998) . Segmentation. Segmentation provides for the use of pieces of varying size. It is also possible combine segmentation and paging in a single memory-management scheme. Segmentation is an alternative to paging. It differs from paging in that the unit transfer between primary and secondary memories varies. The size of the segments, are also explicitly known by the programmer. Translating a segment virtual address to a physical. Segmentation is an extension of the ideas suggested by the use of relocation-limit registers for relocating and bound checking blocks of memory. The program parts to be loaded or unloaded are defined by the programmer as variable-sized segments. Segment may be defined explicitly by language directives it implicit by program semantics as the: text, data and stack segments created by the UNIX C compiler. Address is more complex that translating a paging virtual address. (Michael , 2008) . 1.2 Process Management Process management refers to the full spectrum of as services to support the orderly administration of a collection of processes. The processor manager is responsible for creating the environment in which the sequential process executes, including implementing resource management. The community of processes that exists in the as at any given time is derived from the initial process that is created when the computer begins operation. The initial process boots up the as , which, in turn, can create other processes to service interactive users, printers, network connections and so on. A program image is created from a set of source modules and previously compiled library modules in relocate-able form. The link-editor combines the various relocate-able object modules to create an absolute program in secondary memory. The loader places the absolute program into the primary memory when a process executes the program. The program image, along with other entities that the process can reference, constitutes the process address space. The address space can be stored in different parts of the machines memory hierarchy during execution. 1.3 compares their advantages and disadvantages of Paging and Segmentation Advantages of Paging and Segmentation Disadvantages of Paging and Segmentation Paging No external fragmentation Segments can grow without any reshuffling Can run process when some pages are swapped to disk Increases flexibility of sharing Segmentation Supports sparse address spaces Decreases size of page tables If segment not used, not need for page table Increases flexibility of sharing of Both Increases flexibility of sharing Share either single page or entire segment Overhead of accessing memory à ¢Ã¢â€š ¬Ã‚ ¢ Page tables reside in main memory à ¢Ã¢â€š ¬Ã‚ ¢ Overhead reference for every real memory reference Large page tables à ¢Ã¢â€š ¬Ã‚ ¢ Must allocate page tables contiguously à ¢Ã¢â€š ¬Ã‚ ¢ More problematic with more address bits Page table size Assume 2 bits for segment, 18 bits for page number, 12 bits for offset 2.0 Mapping Function Algorithm to block the memory card side cache lines. Method Which country is necessary to define a cache block busy. Three techniques used: direct, associative and associative. Associative Mapping In associative mapping, when a request is made for cash, the requested address is compared in the same directory with all entries in the directory. If the requested address is found (directory hit), the appropriate place in the cache is fetched and returned to the processor, otherwise, a miss occurs.(figure 1) . Associative Mapping Cache Figure (1), (Philip ,1998) Associative Mapping Summary Address length = (s+w) bits Number of addressable units = 2^(s+w) words or bytes Block Size = line size = 2^w words or bytes Number of blocks in main memory = 2^(s+w)/2^w = 2^s Number of lines in cache = undetermined Size of tag = s bits Associative Mapping Pros and Cons Flexibility as to which block to replace when a new block is read into cache Replacement algorithms designed to maximize cache hit ratio Complex circuitry required to examine the tags of all cache lines in parallel direct mapping In a direct mapping cache Lower Row address bits are used to access the directory. Several address line card in the same place in the cache directory, upper address bits (tag bits) should be compared with address to ensure a hit. If the comparison is not valid, the result is a cache miss, or simply a miss. The address given to the cache by the processor actually is subdivided into several pieces, each of which has a different role in accessing data (figure 2) . Direct Mapping Cache Figure (2), (Philip ,1998) set associative Mapping Operates in a fashion somewhat similar to the direct-mapped cache. Bits from the line address are used to address a cache directory. However, now there are multiple choices: two, four, or more complete line addresses may be present in the directory. Each of these line addresses corresponds to a location in a sub-cache. The collection of these sub-caches forms the total cache array. In a set associative cache, as in the direct-mapped cache, all of these sub-arrays can be accessed simultaneously, together with the cache directory. If any of the entries in the cache directory match the reference address, and there is a hit, the particular sub-cache array is selected and out gated back to the processor (figure 3 ) (William , 2000) Set Associative Mapping Cache Figure (3) ,(Philip ,1998) 2.4 Replacement Algorithms Direct Mapping No choice Each block only maps to one line Must replace that line Associative and Set Associative. Must be implemented in hardware for speed. Most effective Least Recently Used (LRU) Replace the block in the set that has been in cache the longest with no references to it . 2-way set associative each line includes a USE bit . First-in-first-out (FIFO) Replace the block in the set that has been in the cache the longest. Uses a round-robin or circular buffer technique . Least Frequently Used (LFU) . Replace the block in the set that has experienced the fewest references. Associate a counter with each line Pick a line at random not based usage . Only slightly inferior in performance to algorithms based on usage . 3.0What is RAID The basic idea of RAID (Redundant Array of Independent Disks) is to combine multiple cheap disks in an array of disk drives to obtain performance, capacity and reliability that exceeds that of a large disk. The array of drives appears to the host computer as one logical drive. The Mean Time Between Failure (MTBF) of the array is equal to the MTBF of an individual drive, divided by the number of drives in the array. Because of this, the MTBF of a non-redundant array (RAID 0) is too low for mission-critical systems. However, disk arrays can be made fault tolerant by redundantly storing information in various ways. Five types of array architectures, RAID 1 to RAID 5 were originally determined each provides disk fault tolerance with different compromises in features and performance. In addition to these five redundant array architectures, it has become popular to refer to a non-redundant array of disk drives as a RAID 0 array. RAID 0 is the fastest and most efficient array type but offers no fault tolerance. RAID 0 requires a minimum of two drives. (William , 2000). 3.1 Performance and Data Redundancy Increasing Logical Drive Performance Without an array controller, connecting extra physical disks to a system increases the total storage capacity. However, it has no effect on the efficiency of read/write operations, because data can only be transferred to one physical disk at a time (see Figure 3). Figure (3) ,(William , 2000) With an array controller, connecting extra physical disks to a system increases both the total storage capacity and the read/write efficiency. The capacity of several physical disks is combined into one or more virtual units called logical drives (also called logical volumes). The read/write heads of all of the physical disks in a logical drive are active simultaneously; improving I/O performance and reducing the total time required for data transfer (see Figure 4). (William, 2000) Figure (4), (William , 2000) Because the read/write heads for each physical disk are active simultaneously, the same amount of data is written to each disk during any given time interval. Each unit of data is called a block. The blocks form a set of data stripes that are spread evenly over all the physical disks in a logical drive (see Figure 5), (William, 2000). Figure (5) ,(William , 2000) For data in the logical drive to be readable, the data block sequence must be the same in every stripe. This sequencing process is performed by the Smart Array Controller, which sends the data blocks to the physical disk, writing the heads in the correct order. In a striped array, each physical disk in a logical drive contains the same amount of data. If one physical disk has a larger capacity than other physical disks in the same logical drive, the extra capacity cannot be used. A logical drive can extend over more than one channel on the same controller, but it cannot extend over more than one controller. Disk failure, although rare, is potentially catastrophic to an array. If a physical disk fails, the logical drive it is assigned to fails, and all of the data on that logical drive is lost. (Peng, Hai , Xinrong ,Qiong Jiangling , 1997) . 3.2 differences among all RAID levels RAID 0 is the fastest and most efficient array type but offers no fault tolerance. RAID 0 requires a minimum of two drives. RAID 1 is the best choice for performance-critical, fault-tolerant environments. RAID 1 is the only choice for fault-tolerance if no more than two drives are used. RAID 2 is seldom used today since ECC is embedded in all hard drives. RAID 2 is not supported by Adaptec RAID controllers. RAID 3 can be used to speed up data transfer and provide fault tolerance in single-user environments that access long sequential records. However, RAID 3 does not allow overlapping of multiple I/O operations and requires synchronized-spindle drives to avoid performance degradation with short records. Because RAID 5 with a small stripe size offers. Similar performance, RAID 3 is not supported by Adaptec RAID controllers. RAID 4 offers no advantages over RAID 5 and does not support multiple simultaneous write operations. RAID 4 is not supported by Adaptec RAID controllers. RAID 5 combines efficient, fault-tolerant data storage with good performance characteristics. However, write performance and performance during drive failure is slower than with RAID 1. Rebuild operations also require more time than with RAID1 because parity information is also reconstructed. At least three drives are required for RAID 5 arrays. RAID-6 Striped data with dual distributed parity RAID-6 is the same as RAID-5 except that it uses a second level of independently calculated and distributed parity information for additional fault tolerance. This extra fault tolerance provides data security in the event two drives fail before a drive can be replaced. While this RAID level does provide greater fault tolerance than level 5, there is a significant loss in write performance due to the requirement for storing parity twice for each write operation. A RAID-6 configuration also requires N+2 drives to accommodate the additional parity data, which makes it less cost effective than RAID-5 for an equivalent storage capacity. RAID 10 Stripe set of mirrored arrays RAID 10 (also called RAID 0/1) is a combination of RAID levels 0 and 1. In this type of implementation a RAID-0 stripe set of the data is created across a 2-disk array for performance benefits. A duplicate of the first stripe set is then mirrored on another 2-disk array for fault tolerance. While this configuration provides all of the performance benefits of RAID-0 and the redundancy of RAID-1, this level is very costly to implement because a minimum of four disks are necessary to create a RAID 10 configuration. NOTE A RAID 10 configuration can continue operations even when two disks have failed, provided that the two disks not part of the same RAID-1 mirror set. RAID 50 Stripe set of parity arrays RAID level 50 (also called RAID 0/5) is a combination of RAID levels 0 and 5. Multiple RAID-5 arrays are striped together using RAID-0. Parity is maintained separately for each RAID-5 group in the striped array. This level provides the same advantages of RAID-5 for small data transfers with the added performance of striping for disk read/write operations. Also, because parity is calculated independently for each RAID-5 component, if one array is degraded the effect on overall operations is not as significant as for a single RAID-5 array. However, the overhead incurred by RAID-5 parity generation is still present. Normally this does not cause noticeable degradation unless you are dependent on software-based XOR functionality or have a large number of disks in the array. RAID subsystems that support hardware-based XOR should provide performance nearly equal to a RAID-0 configuration with the added protection of data parity information in the event of a disk failure. A minimum of six disks are required for a RAID 50 configuration. NOTE A RAID 50 configuration can continue operations even when two disks have failed, provided that the two disks are not part of the same RAID-5 parity group.(Adaptec inc. (n. d.)) .

Community Essay -- Community Communities Essays

Community The point that community has an important effect on the shaping of a person’s character is key in both Pythia Peay’s essay, â€Å"Soul Searching† and Winona LaDuke’s interview transcribed in essay form entitled, â€Å"Reclaiming Culture and the Land: Motherhood and the Politics of Sustaining Community†. The two authors present ideas, similar and different, of what it means to live in and be a part of community. Through examining these two essays, summarizing and synthesizing, we can gain a better understanding of what community is and how it affects those within it. Pythia Peay explains that for everywhere that she has resided, each place had a unique effect on her character. Each of the five cities in which she has lived contributed in some part to who she is today. She goes on to point out that each city or town has its own unique sense of soul. Peay believes that in our present day people are beginning to lose their sense of place. A city’s inhabitants lay blind to the fact that in some way their own character is shaped â€Å"within the city’s larger reality† (4). The body of her essay consists of six methods to help anyone discover the soul of their hometown. Winona LaDuke’s essay is a little different. Since it is a transcript taken from an interview it is not as straight forward as Peay’s essay. She begins by explaining the way children are commonly raised in her Native community on the White Earth reservation in Minnesota. She asserts that the role of raising children is done by the community as a whole, not just the parents. The children learn by the example, not only by what they’re told. LaDuke does state that the tribal school system has some problems claiming it is â€Å"a mediocre rural school... ...rce, street life, history, nature, geography, politics, art, and people that offers a perpetually renewing source of life† (7). Through these two essays, a greater sense of what community is really about emerges. Not only is community about ones surroundings, but also about the values and ideals held by that communities inhabitants. The community in which one may or may not choose to immerse ourselves in deeply effects who we are. The character, or soul, within each of us is in part shaped by the community or communities in which we belong to or reside in. Works Cited: Gruber, Sibylle, Ed. et al. Constructing Others, Constructing Ourselves. Dubuque, Iowa: Kendall/Hunt, 2002. Peay, Pythia. â€Å"Soul Searching.† Gruber 3-7. LaDuke, Winona. â€Å"Reclaiming Culture and the Land: Motherhood and the Politics of Sustaining Community.† Gruber 9-15. Community Essay -- Community Communities Essays Community The point that community has an important effect on the shaping of a person’s character is key in both Pythia Peay’s essay, â€Å"Soul Searching† and Winona LaDuke’s interview transcribed in essay form entitled, â€Å"Reclaiming Culture and the Land: Motherhood and the Politics of Sustaining Community†. The two authors present ideas, similar and different, of what it means to live in and be a part of community. Through examining these two essays, summarizing and synthesizing, we can gain a better understanding of what community is and how it affects those within it. Pythia Peay explains that for everywhere that she has resided, each place had a unique effect on her character. Each of the five cities in which she has lived contributed in some part to who she is today. She goes on to point out that each city or town has its own unique sense of soul. Peay believes that in our present day people are beginning to lose their sense of place. A city’s inhabitants lay blind to the fact that in some way their own character is shaped â€Å"within the city’s larger reality† (4). The body of her essay consists of six methods to help anyone discover the soul of their hometown. Winona LaDuke’s essay is a little different. Since it is a transcript taken from an interview it is not as straight forward as Peay’s essay. She begins by explaining the way children are commonly raised in her Native community on the White Earth reservation in Minnesota. She asserts that the role of raising children is done by the community as a whole, not just the parents. The children learn by the example, not only by what they’re told. LaDuke does state that the tribal school system has some problems claiming it is â€Å"a mediocre rural school... ...rce, street life, history, nature, geography, politics, art, and people that offers a perpetually renewing source of life† (7). Through these two essays, a greater sense of what community is really about emerges. Not only is community about ones surroundings, but also about the values and ideals held by that communities inhabitants. The community in which one may or may not choose to immerse ourselves in deeply effects who we are. The character, or soul, within each of us is in part shaped by the community or communities in which we belong to or reside in. Works Cited: Gruber, Sibylle, Ed. et al. Constructing Others, Constructing Ourselves. Dubuque, Iowa: Kendall/Hunt, 2002. Peay, Pythia. â€Å"Soul Searching.† Gruber 3-7. LaDuke, Winona. â€Å"Reclaiming Culture and the Land: Motherhood and the Politics of Sustaining Community.† Gruber 9-15.

A Comparison of Hamlet and The Turn of the Screw :: comparison compare contrast essays

Hamlet vs. The Turn of the Screw    Although Hamlet and The Turn of the Screw are very different works, both William Shakespeare and Henry James use the themes of love and ghosts to complicate their work. By having these themes, both authors make the readers question and wonder if the accounts the characters are having really exist. Are these two main characters, Hamlet and the governess , mentally ill or does the stories explain their actions?    The most obvious commonality, between Hamlet and The Turn of the Screw, is the use of ghosts. On one hand, Hamlet speaks with the ghost of his father, Hamlet. When Hamlet firsts sees the ghost he asks, "Be thou a spirit of health or goblin damned,/ Bring with thee airs from heaven or blasts from Hell,/ Be thy intents wicked or charitable," (I. 4. 40-42). When Hamlet finally meets the ghost and converses with him, the ghost creates a problem that lasts throughout the whole play. On the other hand, the governess sees the two deceased workers, Peter Quint and Miss Jessel. These ghosts also create a problem. Speaking with Mrs. Grose, the governess tells her there was a ghost. After Mrs. Grose asks what the ghost wants, the governess says, "Heaven forbid! The man. He [Quint] wants to appear to them [the children]." Are the ghost real? Do the children see the ghosts and lie?    In both works, love also plays a role. Hamlet's love, Ophelia, sees Hamlet at his worse. To make the people around him think he's crazy, Hamlet visits Ophelia and acts mad. When speaking with her father, Ophelia says, "Lord Hamlet, with his doublet all unbraced,/ No hat upon his head, his stockings fouled,/ Unaltered , and down-gyvà ¨d to his ankles," (II. 1. 77-79). Soon, his mother and the king think Hamlet is insane. Is Hamlet really crazy? In The Turn of the Screw, the ghosts appear to the governess while she is thinking about the master, her infatuation, or his heir, Miles. The governess states, "...the only way to be sure he knew would be to see it, and the kind light of it, in his [the master`s] handsome face" (James 23). Suddenly Peter Quint appears in a high window. A Comparison of Hamlet and The Turn of the Screw :: comparison compare contrast essays Hamlet vs. The Turn of the Screw    Although Hamlet and The Turn of the Screw are very different works, both William Shakespeare and Henry James use the themes of love and ghosts to complicate their work. By having these themes, both authors make the readers question and wonder if the accounts the characters are having really exist. Are these two main characters, Hamlet and the governess , mentally ill or does the stories explain their actions?    The most obvious commonality, between Hamlet and The Turn of the Screw, is the use of ghosts. On one hand, Hamlet speaks with the ghost of his father, Hamlet. When Hamlet firsts sees the ghost he asks, "Be thou a spirit of health or goblin damned,/ Bring with thee airs from heaven or blasts from Hell,/ Be thy intents wicked or charitable," (I. 4. 40-42). When Hamlet finally meets the ghost and converses with him, the ghost creates a problem that lasts throughout the whole play. On the other hand, the governess sees the two deceased workers, Peter Quint and Miss Jessel. These ghosts also create a problem. Speaking with Mrs. Grose, the governess tells her there was a ghost. After Mrs. Grose asks what the ghost wants, the governess says, "Heaven forbid! The man. He [Quint] wants to appear to them [the children]." Are the ghost real? Do the children see the ghosts and lie?    In both works, love also plays a role. Hamlet's love, Ophelia, sees Hamlet at his worse. To make the people around him think he's crazy, Hamlet visits Ophelia and acts mad. When speaking with her father, Ophelia says, "Lord Hamlet, with his doublet all unbraced,/ No hat upon his head, his stockings fouled,/ Unaltered , and down-gyvà ¨d to his ankles," (II. 1. 77-79). Soon, his mother and the king think Hamlet is insane. Is Hamlet really crazy? In The Turn of the Screw, the ghosts appear to the governess while she is thinking about the master, her infatuation, or his heir, Miles. The governess states, "...the only way to be sure he knew would be to see it, and the kind light of it, in his [the master`s] handsome face" (James 23). Suddenly Peter Quint appears in a high window.

The Beneficial Uses of Hemp :: Exploratory Essays Research Papers

The Beneficial Uses of Hemp Following my father's death, I felt there was some unfinished business that we had not discussed. I searched to find some of my father's thoughts and feeling that I could justify our relationship through. Ironically, I came across a manila envelope, which had contained some of his prized possessions. As I searched through it, I developed a new opinion of the bio mass plant called "Hemp." There were articles showing a hemp bills being passed and farmers wanting to cultivate it within Delta County. There was also a book called "The Emperor Wears No Clothes." It was a book stating compelling facts about the miracle crop Hemp." An article struck me. It told of, Woody Harrison, a well-known actor stating, "He would pick up the tab for Colorado's first hemp crop if state legislators approve the crop." He also stated that you could smoke a pound of it and not get high. (Rice)" In addition 4.6 million members of the American Farm Bureau Federation support Hemp 100 percent. Hemp could be the most abundant natural resource, it can replace 80% of our fossil fuels, and be used for many major medicinal purposes (Kriho). It is essential that we stop the use of all fossil fuels, and deforestation to save Mother Earth. This can be accomplished with the cannabis plant hemp seizing pollution and provide the world with more than enough of its energy needs. According to Jack Herer, George Washington and Thomas Jefferson, we're not only the founders of our country, but also the first growers of cannabis in America. In addition, Benjamin Franklin started the first paper mill, which made it possible to make their own books. Growing this crop was not uncommon at this day and time. In the census of 1850, 8,327 crops were established and each measured at least 2000 acres each, this commodity was found in the South. Its uses varied from rope to medicinal remedies. There has never been one reported death from the use of hemp extract. Here is a chart to let you in on some astonishing information (Hager). TOBACCO 340,000 to 450,000 ALCOHOL (Not including 50% of all highway deaths and 65% of all murders) 150,000+ ASPIRIN (Including deliberate overdose) 180 to 1,000+ CAFFEINE (From stress, ulcers, and triggering irregular heartbeats, etc.) 1,000 to 10,000 LEGAL DRUG OVERDOSE (Deliberate or accidental) from legal, prescribed or patent medicines and/or mixing with alcohol - e.

Killing- the only way to solve problems? Essay

At about two o’clock. The argument between the Montague and the Capulet has once more messed up the whole town. A woman with a baby said: â€Å"It is not safe to walk on the streets with children any more. This is the third time that the two (Montague and Capulet) families have been fighting against each other in open public places. If anything like that happens then it must be those two families. † Sampson who is a servant of the Capulet family, and Abraham who is a servant of the Montague were the main people of these incidents. From a witness’s information, Sampson started the fight. He went up to Abraham and annoyed him by telling him that he is better than him as a servant. Abraham did not care about what he said and walk away. Sampson didn’t get what he wanted, so he kicked the old man who is also a servant of the Montague’s family. Abraham could not stand the rudeness of him. So he asked to draw with that man. As soon as they took out their swords, all the people who are in their families took out their swords as well. They messed up all the markets. It was like a war: Chickens were flying across the streets: vegetables were making to pieces. Women with children were running away trying to protect their children. People were throwing things from the windows†¦ On of the Capulet’s servant said: â€Å"Capulet heard the noises out at the center place. He asked for long sword. And run out to join the ‘war’. When Montague heard about the fight, he wanted to fight as well. Because he knows that it must be the Capulet that they were going to fight with. His wife held him, but that doesn’t do anything. He told his wife to let him go and he went to fight as well as the rest of the family. Why can’t the two families be peace? That is a question that many people have tried to find out. Both families had been against each other since a long time ago. If one does some thing wrong, the other must have some kind of reaction to it. Conflicts and conflicts over and over again. God knows what happens next between the two families. Minutes after the fight started. Some one went up to the bell tower, and ran the bell. Prince Escalus came to the place with his train. As they go pass, all the people were running away from them, because they didn’t want to get arrested by the prince. When the prince arrived at the place where the fight took place, everyone stopped fighting. The prince spoke, and mentioned that the old Capulet and Montague have disturbed the quite of the streets. And if they ever do that again, their lives shall pay the forfeit of the peace. Both Capulet and Montague ended up going back with the prince in the afternoon.

Environmental and Social Impacts of Offshore Wind Farms in Botany Bay

Environmental and Social cushions of seaward twist around Farms in plant life verbalize When preparation turnedshore soupcon leavens the following forces atomic number 18 studied to make sure the purposed stand out has a net benefit surroundally. step can then be interpreted to manage any negative contact resulting from the reflexion of the entwine enhances. Environmental bushel plant bay laurel has a versatile marine life the pertain of the string turbines on the milieu defy astonishingly shown to produce unsubstantial reefs.A recent field of operation Effect of the Horns Rev 1 inshore annul Farm on lean Communities(Leonhard, Stenberg, Stottrup2011) has produced positive results illustrating the turbines feel no unfortunate ready to the marine life and has truly increased the population of some species of weight in the atomic number 18a. It is also shown the most folie pull up stakes coming in the tress stage of production. sophisticate farms also would pass on final results on the local anesthetic bird-life as both a collision endangerment with the rotors and flapping and barrier effect to migrating birds.vegetation bay tree is noted to puddle close to 17 species of shorebirds prompting the need for further seek to be looked at bird doings the area. Social Impact Many studies receive been developed to review reverse turbines effect on the wellness of people an Australian theater of operations tether Turbines and health (National health and Medical Research Council, 2010) concluded that boilersuit kink farms absorb minimal health effects compared to health burdens of conventional electri metropolis generation.The concept of purloin turbine syndrome includes the worse of the indecent health issues involved in perceive loss and insomnia resulting from noise trains of the wind farms hardly it is generally believed to be a nocebo response to the presence of wind turbine. The noise take aim of 10 turbines at 350 metres is 35-45 dbA, in simile to a standard quiet live being 35 dbA. The main current health issue includes annoyance extend to by locals and according to serviceman wellness Organisation (WHO 1999) annoyance is an uncomely health effect.In terms of the planned wind farm at phytology Bays area designing despatchshore greatly reduces the sound and visual impact macrocosm far out enough to have no shadow flicker to no effect. Also located in such(prenominal) an urban area sound from city is found to offset the noise direct of the wind turbines (Ion Paraschivoiu). Recreational tiping in Botany Bay is a commodious attraction to Botany Bay with commercial-grade look foring currently banned. Several staged reefs were construction in 2006 to help fish habitats.With the potential of more dummy reefs from the wind farms marine wildlife go away look to expand however building of offshore wind farms will pose safety issues to seek in the area. Closing fis hing areas ambient to the wind farms may be required to provide proper safety which will most likely irritate local fishermen. Environmental and Social impact of off shore wind farms cannot be taken lightly and for closer look on such effects proper critical investigation have to be do on the surrounding wildlife and population of Botany Bay.Bibliography NSW Department of Primary Industries. (2006). Six dummy reefs for Botany Bay. Available http//www. dpi. nsw. gov. au/ enumeration/news-releases/fishing-and-aquaculture/2006/artificial-reefs-botany-bay final accessed 12 Oct 2012. Science Daily. (2010). shoreward seethe Power and Wave capacity Devices Create unreal Reefs. Available http//www. sciencedaily. com/releases/2010/01/100118132130. htm wear accessed 12 Oct 2012. The slant Site password Desk. (2010). offshore travel Power Creates insubstantial Reefs.Available http//www. thefishsite. com/fishnews/11577/offshore-wind-power-creates-artificial-reefs give way access ed 12 Oct 2012. Hazel Watson. (2010). Shorebirds of Botany bay. Available http//www. wetrivers. unsw. edu. au/research- dates/shorebirds/shorebirds-of-botany-bay/ pull through accessed 12 Oct 2012. The Society for Wind Vigilance. (2010). Annoyance and Wind Turbines. Available http//www. windvigilance. com/about- ill-health-effects/annoyance-and-wind-turbines Last accessed 12 Oct 2012.Magnus Johnson. (2009). Fisheries, the environment and offshore wind farms Location, location, location.. Availablehttp//www. academia. edu/892929/Fisheries_the_environment_and_offshore_wind_farms_Location_location_location Last accessed 12 Oct 2012. Sustainable Development instruction (United Kingdom) (SDC), (2005) Wind Power in the UK A guide to the key issues surrounding offshore wind power breeding in the UK, Government of the United Kingdom, England.Available at http//www. sdcommission. org. uk/ conception wellness Organization (2004) aught, sustainable exploitation and health. Background do cument for the Fourth ministerial Conference on Environment and Health, 23-25 June 2004, Geneva. Rogers A, Manwell J & Wright S. (2006) Wind Turbine Acoustic Noise. Renewable cipher Research Laboratory, University of Massachusetts at Amherst. Wind Turbine Design With Emphasis on Darrieus pattern by Ion ParaschivoiuEnvironmental and Social Impacts of inshore Wind Farms in Botany BayEnvironmental and Social Impacts of Offshore Wind Farms in Botany Bay When intend offshore wind farms the following impacts are studied to make sure the purposed project has a net benefit environmentally. stairs can then be taken to manage any negative impact resulting from the construction of the wind farms. Environmental Impact Botany Bay has a versatile marine life the impact of the wind turbines on the environment have surprisingly shown to produce artificial reefs.A recent study Effect of the Horns Rev 1 Offshore Wind Farm on Fish Communities(Leonhard, Stenberg, Stottrup2011) has produced positi ve results illustrating the turbines have no adverse effect to the marine life and has in reality increased the population of some species of fish in the area. It is also shown the most disturbance will coming in the construction stage of production. Wind farms also would have effects on the local bird-life as both a collision bump with the rotors and disturbance and barrier effect to migrating birds.Botany Bay is noted to have close to seventeen species of shorebirds prompting the need for further research to be looked at bird demeanour the area. Social Impact Many studies have been developed to review wind turbines effect on the health of people an Australian study Wind Turbines and Health (National Health and Medical Research Council, 2010) concluded that boilersuit wind farms have minimal health effects compared to health burdens of conventional electricity generation.The concept of wind turbine syndrome includes the worse of the adverse health issues involved in acquire lo ss and insomnia resulting from noise directs of the wind farms tho it is generally believed to be a nocebo chemical reaction to the presence of wind turbine. The noise level of 10 turbines at 350 metres is 35-45 dbA, in comparison to a standard quiet path being 35 dbA. The main rightful(a) health issue includes annoyance impact by locals and according to World Health Organisation (WHO 1999) annoyance is an adverse health effect.In terms of the planned wind farm at Botany Bays area designing offshore greatly reduces the sound and visual impact universe far out enough to have no shadow flicker to no effect. Also located in such an urban area sound from city is found to offset the noise level of the wind turbines (Ion Paraschivoiu). Recreational fishing in Botany Bay is a large(p) attraction to Botany Bay with commercial fishing currently banned. Several artificial reefs were construction in 2006 to help fish habitats.With the potential of more artificial reefs from the wind far ms marine wildlife will look to boom however building of offshore wind farms will pose safety issues to fishing in the area. Closing fishing areas adjacent to the wind farms may be requisite to provide proper safety which will most likely irritate local fishermen. Environmental and Social impact of off shore wind farms cannot be taken lightly and for closer look on such effects proper exposit investigation have to be make on the surrounding wildlife and population of Botany Bay.Bibliography NSW Department of Primary Industries. (2006). Six artificial reefs for Botany Bay. Available http//www. dpi. nsw. gov. au/ account/news-releases/fishing-and-aquaculture/2006/artificial-reefs-botany-bay Last accessed 12 Oct 2012. Science Daily. (2010). Offshore Wind Power and Wave elan vital Devices Create Artificial Reefs. Available http//www. sciencedaily. com/releases/2010/01/100118132130. htm Last accessed 12 Oct 2012. The Fish Site discussion Desk. (2010). Offshore Wind Power Creates Ar tificial Reefs.Available http//www. thefishsite. com/fishnews/11577/offshore-wind-power-creates-artificial-reefs Last accessed 12 Oct 2012. Hazel Watson. (2010). Shorebirds of Botany bay. Available http//www. wetrivers. unsw. edu. au/research-projects/shorebirds/shorebirds-of-botany-bay/ Last accessed 12 Oct 2012. The Society for Wind Vigilance. (2010). Annoyance and Wind Turbines. Available http//www. windvigilance. com/about-adverse-health-effects/annoyance-and-wind-turbines Last accessed 12 Oct 2012.Magnus Johnson. (2009). Fisheries, the environment and offshore wind farms Location, location, location.. Availablehttp//www. academia. edu/892929/Fisheries_the_environment_and_offshore_wind_farms_Location_location_location Last accessed 12 Oct 2012. Sustainable Development focussing (United Kingdom) (SDC), (2005) Wind Power in the UK A guide to the key issues surrounding offshore wind power development in the UK, Government of the United Kingdom, England.Available at http//www. sdc ommission. org. uk/ World Health Organization (2004) Energy, sustainable development and health. Background document for the Fourth ministerial Conference on Environment and Health, 23-25 June 2004, Geneva. Rogers A, Manwell J & Wright S. (2006) Wind Turbine Acoustic Noise. Renewable Energy Research Laboratory, University of Massachusetts at Amherst. Wind Turbine Design With Emphasis on Darrieus conception by Ion Paraschivoiu

Only the Strong Survive

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

The price and value of the investments referred to in this report and the income from them may go down as well as up, and institutional investors may realize losses on any investments. Past performance is not a guide to future performance. Future returns are not guaranteed, and a great loss of original capital may occur. Daewoo Securities Research 16 January 17, 2013 Shipbuilding Distribution United Kingdom: This report is being distributed by Daewoo Securities (Europe) Ltd.S. by Daewoo Securities (America) Inc. , a member of FINRA/SIPC, and is only intended for major institutional investors as defined in Rule 15a-6(b)(4) under the U. S.Any U. S. recipient of this document wishing to effect a transaction in any securities discussed herein should contact and same place orders with Daewoo Securities (America) Inc. , which accepts responsibility for the contents of this report in the U.S. or to U. S. ersons absent registration or an applicable exemption from the registration requi rements.