I Have Chosen Beowulf - Free Essay Example

Sample details Pages: 3 Words: 759 Downloads: 7 Date added: 2019/05/08 Category Literature Essay Level High school Tags: Beowulf Essay Did you like this example? From the books we have read, I have chosen Beowulf. It was a tale about an individual from the point of scholars known as the Anglo-Saxons. Most Anglo-Saxons were recognized as having no background or origin, so it was difficult to decipher what origin of the author. The  development of this epic poem was between somewhere in the 8thcentury and 10thcentury. Though it is still debated about its published date, manuscripts were traced back to the 10thcentury.  It was written sometime from (800 to 1000 AD). Now it can observe that in some way it gives us some hints that in were in the time after the death of Christ. Such as it being presented to us before the tale of Judith which is the new testament around the time of (1010 AD) However, it also Beowulf is shown to have been non-Christian related due to the fact that Anglo-Saxons were introduced to it and during this time period were are coming out of a period of paganism and we can see that Beowulf was mentioning God from a Monotheistic standpoint.   Don’t waste time! Our writers will create an original "I Have Chosen Beowulf" essay for you Create order It was originally part of the  medieval/ Old Englishtime era where we saw a common conception of a hero going on journeys for glory and prestige. The story of Beowulf was written during the migration of settlers from their homelands to England However it is not primarily plotted in the  country of Britain. During this time span we see that there were warriors of German descent invading islands to wreak havoc amongst individuals. This had resulted in many deaths, including the King of Beowulfs tribe. This event occurred in the  age of 520 AD.  In the story we can see the tale of Beowulfs character was set in the  6thcentury to the 8thcentury. Examples of this evidence could be the weaponry used during the time period, which were swords, the buildings were stonewall and pebbled and the helmet had a human face platelet. It can be seen that he was from a tribe called the Geats, which had resided in a portion of  present day Sweden. He comes from a style of knight/soldier background. This is shown to be come in the past links of Scandinavia.  Ã‚  Ã‚  Ã‚  Ã‚   From here it is illustrated that Beowulf had explored and me with another tribe called the Danes, which were in the mainland of Denmark. During his visit in  Heorotit can be shown we are introduced to some other key settings such as the  Mead Hall, which was a place where soldiers would feast but soon met their demise with the horrible beast Grendel.  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   There we see Beowulf meeting the Danes King Hrothgar. He was fascinated with Beowulf that he offers him a challenge, in which he accepts. In regards to the setting, it changes for us due to the fact he travels across several other lands (Present day Germany,  Ã‚  Poland as well as other) , including his  homeland. When he reaches his destination we can see that it is a dark layer that has swampy waters and cave architecture, in which he defeats Grendel.  After he defeats Grendel he returns to his village and is declared king. His return home is cut short and he soon comes to another location, which includes him fighting a dragon. The setting in this is a mountain valley in which there are rocks and a narrow sprawl. Eventually we can se the setting returning back to Beowulfs land  Ã‚  for his funeral.  The author can use this setting as a way to show people, the savagery of how two tribes fought each other for glory or land. It illustrates that at the time period they didnt many means of transportation. For instance the Germanic Vikings would use ships to sail across waters in order to raid the tribes. With this it gives us a look at how the collapse of a kingdom can be without a warrior, even if he is from another tribe. Overall the author can achieve the purpose of the when and where or when and where in Beowulf by giving us the backdrop of certain scenarios in which the character Beowulf engages with others and heads on a long journey. He also shows the rough conditions in a geographical standpoint of what he had to fight in. In closing the author can give us how an illustration on the fact that the tribes were small but, it still gives us great perspective that the lands they lived in may be somewhat small or moderate sized though it still shows the geographic landscape for others arent big enough.

Describe Diversity, Equality, Inclusion and Participation

Diversity Diversity refers to our differences such as culture, beliefs, values, views and life experiences. The concept of diversity is to accept, respect and embrace our differences. When people with these differences unite and share the same group or organization we see a diverse environment. Working in a childcare setting, we have the potential to work with an abundance of diversity. This can be very rewarding but can also pose challenges. Positively, we have the opportunity to promote the sense of individuality, sense of pride and belonging by providing a safe and nurturing environment. Discussing each other’s differences is a great way to learn and become aware of the differences in the world. One example of promoting†¦show more content†¦Reference: Wikipedia, Inclusion (education), 22 October 2013, http://en.wikipedia.org/wiki/Inclusion_(education) Participation Participation is the act of participating and being involved in activities, decisions, planning and sharing. Participation is important for the children as well as the parents in school settings. When parents and children are involved in decision-making it allows them to feel connected to the school and feel like their voice is being heard and wishes met. Children feel that their opinions and feelings matter, this is important to social skill development, as they will feel apart of the school community. Children who participate in school activities such as sports gain self-confidence and team building skills. Communication skills improve, stress is relieved and friendships build as children learn to trust and depend on their peers. Supporting participation could be to invite parents into the class to share their child’s favorite storybook from home and be a part of that day’s circle time. The child will gain a sense of pride as they sit beside their parent as they contribute to circle time. Another example is the childrenShow MoreRelatedNvq Level 3 Essay779 Words   |  4 PagesPromote Equality and Inclusion in Health, Social care or Children’s and Young People’s settings 1.1 Explain what is meant by * Diversity * Equality * Inclusion Diversity basically means difference. Diversity is about understanding that everyone has things in common but also that everyone is different. Diversity is about embracing those differences because if everything and everyone was the same then life would be boaring. Some examples of diversity are listed below: Read MoreLevel 3 Diploma998 Words   |  4 PagesUnit 030 Outcome 1: . 1.1. Describe the social, economic and cultural factors that will impact on the lives of children Look at the factors below how will could they affect a child’s life; * Education; poor education could effect future goals and aspirations * Disability; unable to access certain services or activities * Poverty; poor health and hygiene, lack of activities and experiences being accessed * Housing; poor health, unable to develop fully. * Offending behaviour;Read MorePromote Equality and Inclusion in Health, Social Care or Children’s and Young People’s Settings.620 Words   |  3 PagesPromote equality and inclusion in health, social care or children’s and young people’s settings. 1.1 Explain what is meant by: †¢ Diversity - Each person is individual and unique - Encompass respect and acceptance - It is about understanding each other and moving beyond simple tolerance - â€Å"Differences between individuals and groups of people† Diversity is about respecting individual differences these can be: ethnicity, physical abilities, gender, age, religious, beliefs, sexual orientationRead MoreTda 2.4 Equality, Diversity and Inclusion in Work with Children and Young People.3124 Words   |  13 PagesTDA 2.4 Equality, diversity and inclusion in work with children and young people. In this essay i will be discussing equality amongst children, inclusion, inclusiveness and diversity and how to put these things mentioned into practise when working with children and young people. 1, Understand the importance of promoting equality and diversity in work with children and young people. 1.1 Identify the current legislation and codes of practise relevant to the promotion of equality and valuingRead MoreStandard 1 Understand Your Role1598 Words   |  7 Pagesfor social care workers, held by the Skills for Care and a copy is given to me on employment [ ] The Human Rights Act, Human rights are basic rights and freedoms to which all humans are entitled. This act also is valid for other acts such as the Equality Act [ ] The Care Quality Commission (CQC) It was established in 2009 to regulate and inspect health and social care services in England. 1/5 [ ] All the above Question 3 Understand your own role What aspects of personality and life events affectRead MorePrinciples of diversity, equality and inclusion in adult social care settings2120 Words   |  9 Pagesï » ¿Assignment 303 Bi Create a leaflet Legislations and codes of practice relating to diversity, equality, inclusion and discrimination Health and Safety at Work Act 1974 You share the responsibility with your employer for your own safety and of all people that you support Employment Equality (Age) Regulations 2006 An employee is refused a promotion, because of their age Employment Equality (Religion or Belies) and (Sexual Orientation) Regulations 2003 An employee is refused e.g. trainingRead MoreEquality, Diversity and Inclusion.1136 Words   |  5 PagesExplain what is meant by: a) Diversity- Diversity is about valuing individual difference. So diversity is much more than just a new word for equality. A diversity approach aims to recognise, value and manage difference to enable all employees to contribute and realise their full potential. Diversity challenges us to recognise and value all sorts of differences in order to make our environment a better place for everyone to work b) Equality- Equality is about making sure people are treatedRead MoreTda 2.4 - Equality, Diversity Inclusion in Work with Children and Young People2579 Words   |  11 PagesTDA 2.4 - Equality, Inclusion amp; Diversity In Work With Children and Young People. | Kerri Cook | | Contents Section One: Page 4 Legislation, participation, equal access and valuing and promoting cultural diversity. Section Two: Page 8 Prejudice amp; Discrimination and own attitudes, values and opinions. section three: Page 13 group inclusion Contents Page 4 - Section One Page 5 - 1.1 - Identify the current legislation and codes of practice relevant to the promotion of equality and valuingRead MoreEssay on Tda 2.42734 Words   |  11 PagesTDA 2.4 Equality and diversity and inclusion in work with children and young people. 1.1. Identify the current legislation and codes of practice relevant to the promotion of equality and valuing of diversity. Equality Act 2010 The Equality Act 2010 aims to protect disabled people and prevent disability discrimination. It provides legal rights for disabled people in the areas of: †¢ employment †¢ education †¢ access to goods, services and facilities including larger private clubs and land basedRead MoreEquality, Diversity and Inclusion in Work with Children1275 Words   |  6 PagesUnit 204 Outcome 3 What is meant by Inclusive and Inclusion Practice? Inclusive practice is identifying and understanding any barriers that are stopping children from completing the activity. We have to make sure that whatever the child’s background they are able to fully join in with everything within the school. This will make the children feel valued and have a sense of belonging. Inclusion does not mean that we view each other the same or provide the same work, it is about making sure we

Qube Logistics Port Botany Freight Terminal

Question: Discuss about theQube Logisticsfor Port Botany Freight Terminal. Answer: Introduction Qube is the largest provider of the import and export logistics service provider. The company originated in the year 2010. Qube logistics deal with diverse services which are the road transport, distribution, warehousing, rail and the container parks. The company has expanded itself as one of the largest service providers of the logistics in Australia over the past five years and almost 45% of the company is contributed by the Qube Logistics (Qube.com.au, 2017). The company operational in the New South Wales (NSW): - Port Botany Freight Terminal - Port Botany Empty Park - Yennora Intermodal Terminal - Macarthur Intermodal Terminal (Qube.com.au, 2017). Features of Qube Logistics NSW NSW Qube logistics strategy is to put together the domestic logistics and undersized companies to merge and generate the effectual and competent company. From last few years, the company has gone through some acquisition and added them to the companys network. The organization is operating aggressively in the market. The company operates in the warehousing, empty containers parks, and freight depots. Having the biggest terminals of the rail network in the NSW. The fleet size of the rail is around 750 wagons and 65 locos (Qube.com.au, 2017). The Port Botany passes the 320,000 TEU p.a on the rail with one of the fine quality management team. The company generates the revenue of almost 17% from the import of the retail goods under the management services related to supply chain (Qube.com.au, 2017). The company generates the customer value through reliability and high-speed delivery. Issues Related to the Logistic Network: The company logistics accomplished the success in the past but the diligence of the company is competitive and also unpredictable. The company is getting affected by numerous factors which challenges the functioning of the organization (Ellinger and Chapman, 2011). Presently the NSW network of the logistics is struggling with the issues related to the strategies, issues related to national policies the Logistics Network of the NSW is also struggling with some of the issues such as the strategies and the national policies issues, as the consequences of the provincial planning, convention, and expansion policies, planning related to the regional transport, transportation strategies of the infrastructure and state investment (Ellinger and Chapman, 2011). The company issued numerous such policies which indirectly or directly affect the logistics and the supply chain. The company also evident, such issues and need urgent action. Multi-Modal Transport Access The activities of the Port are shifted from the Port Jackson to the Port Botany and resulted in the containers modification which is to be used for the transition at the Port. The Port Botany is designed in such a way which helps in the transport via trucks (Bar-Lev et al., 2011). At the Jackson Port, the containers are passed through the rail and moved to trucks to reach Port Botany. The trucks carrying the containers are then oriented towards the Rockdale in the west because the other routes were embarrassed due to heavy traffic. There is the theme of divergence on the import and the export business so that the truck containers do not breach the environmental policies or relates to any of the environmental issues or else the alternatives of the operations will be closed (Lynch, Jordan and Bennett, 2016). The management of the local council dispossessed the consumption of the newly constructed road network for the transfer of the shipment (Shan, Wang and Zhang, 2011). Later the stat e rail relocated the 70% of the containers by transferring them through some specific routes of the railway. In the year 2011, there were changes in the rule and 20% of the containers are shifted underway through the railway network of Port Botany (Shan, Wang and Zhang, 2011). Less Terminal Space and Limited Storage of Container The container used in the handling plays a vital role in the costs downfall and to maintain the records of the shipping. The increased demand and the limited space act as one of the upcoming issues in the coming time (Shan, Wang and Zhang, 2011). Privatization and Asset Recycling: The Port Botany is one of the second biggest Container Ports of the Australia. The lease of the port is held with the association of the NSW Ports. The privatization resulted into the initiative of the recycling within the Australian Government (Whiteing, 2003). The transaction also resulted in the new innovative construction for the better functioning. In the plan the tunnel was proposed which is constructed between the Rozelle and St Peters to release the jam on the nearby network (Whiteing, 2003). Commodity Market Downturn The company Qube is new in the commodity market of the rail haulage and have to offer high-quality services for possessing new position in the market (Whiteing, 2003). The downturn in the commodity market is affecting the operations adversely and weakens the demand for the iron ore and coal, mainly for the emerging economies (Whiteing, 2003). Weather Conditions: The adverse conditions of the weather greatly affect the activities of the logistics. All the transportations and the logistics are designed to resists all the conditions of the weathers whether the high or low temperature, unfavorable conditions of the climate and the snowfall. The high temperature may result into the bursting of the tires which results in the increased rate of the accidents (Lynch, Jordan and Bennett, 2016). Also, the level of the sea may fall or rise as a result of the shipping lane. The coastal infrastructure and the harbor facilities are affected due to such conditions. Logistics Management Logistics management deals with forward and reverses the flow of resources between the point of generation and the point of utilization. It deals with the movement of goods, services, and critical information. Logistic management can be defined as the component of the supply chain that deals with several operations related to flow of information, inventory management, packaging, warehousing, and transportation. Logistic management helps to meet the customer demands in an effective and efficient manner. Thus, proper planning, implementation, monitoring, and control are required for logistic management. Logistic management helps to enhance the level of customer services. It also helps the organization in controlling expenses and reducing supply chain costs (Whiteing, 2003). Logistics management starts with selecting the best vendors for raw materials and ends with selecting the best mode for delivery of finished goods. Due to competition in the marketplace, the organizations keep re-in venting their supply chain. Thus, there is a requirement for logistics management to serve the customer requirements. Strategies related to logistics are required because an organization has to serve different customer segments on the basis of geography and the organization has to manage different product segments. It is important for the management to have flexible logistics management strategy due to changing market conditions. The management of Qube is considering certain strategies related to logistics in order to overcome the business challenges (Whiteing, 2003). The company is taking initiatives to identify the issues related to logistics management. After analyzing these issues, the company will take corrective measures to improve customer services. This will make the organization more profitable. The management of Qube considers the following three main elements while formulating logistics management strategies: The structural element of organization: The infrastructural facilities are analyzed. The management of the organization takes decisions on the basis of facilities available for warehousing and transportation of goods (Wu, Tan and Zhang, 2013). Strategies are developed regarding distribution center, distribution channels, the location of warehouses, the storage capacity of each warehouse etc. Functional performance of organization: It is important for the management to ensure the efficiency of every logistic operation. The management should consider private warehousing versus contract warehousing. In order to increase efficiency, the organization may establish a contract with Third Party Logistics (3PL) for outsourcing the warehousing and transportation of goods (Wu, Tan and Zhang, 2013). Outsourcing may help to reduce the wait time for customers. Implementation: Best practices should be implemented regarding procurement activities, distribution activities, reverse-flow activities, after-sales activities etc. Proper implementation of strategies will improve the efficiency of the supply Proper communication is required within the organization for the implementation of new strategies (Wu, Tan and Zhang, 2013). This may require changes in software configuration, formulation of new organizational policies and modifications in business procedures. Strategies Adopted By Organization to Solve Problems Related To Logistics Management Collaboration with Logistic Service Providers (LSP) The organization can form a relationship with external organizations. These organizations have the expertise to carry out logistics activities. An alliance among the client, vendor and service provider can make a business successful (Wu, Tan and Zhang, 2013). The organization's decision to execute all the logistics activities in-house may increase overall expenses for the organization. A good logistics alliance will also increase customer satisfaction. Rolling Horizon Decision-Making Approach Storage space is an issue of concern for the logistics managers. This approach is used to resolve issues related to less warehousing space. A warehouse needs to accommodate a large volume of inbound and outbound containers. To solve the storage problem, a record should be maintained that includes the exit time for each container. The workload should be balanced by allocating space to each container. This establishes the first horizon. A time-period is chosen for repeating the plan Reverse Logistics It deals with the flow of goods from the consumers to the manufacturer. The end-users return the products in case of faulty delivery or damaged delivery. Organizations have a closed-loop logistic chain that helps them to manage the return flow of goods. The products are transported from the point of consumption to the point of origin (Ellinger and Chapman, 2011). There are several possibilities in the reverse flow of goods: repair, remanufacture, recycle and disposal of waste. Following strategies are adopted to manage reverse logistics: - Distribution planning that includes a choice of distribution centers, distribution channels, delivery modes, transportation routes, delivery time etc. - Inventory control that includes raw materials and ready for sale goods. - Production planning that includes the flow of materials, deciding production schedules, maintenance of equipment, issuing instructions to workers, inspection of goods etc. Limited Capacity Limited warehouse capacity is a major issue. The concept of backhaul should be used. Empty vehicles should be used to compensate for the limited space. This saves a lot of money. The cargo trucks should be utilized properly during their return journey. This increases the efficiency of the logistics chain. Intermodal Transportation Qube utilizes multiple modes of transportation. This strategy helps in the faster delivery of goods. This also reduces the chances of damage during transportation of goods. This strategy can be used to serve remote locations. This increases convenience. Just-In-Time (JIT) This strategy is being utilized by many successful companies. This technique is mostly used for small shipments. This strategy guarantees right product at the right time. The possibility of emergency shipment is covered in this technique. Proper delivery management is a challenging task. This strategy leads to higher customer satisfaction (Ellinger and Chapman, 2011). Customer satisfaction leads to higher profits. The quality of product and on-time delivery makes this model successful. Transhipments This scenario arises when the chosen mode of transportation cannot reach the end point. Transhipments happen when the vehicle carrying freight from the point of origin is interrupted in a one-to-many distribution system. This leads to two possibilities: many small shipments merge to form one large shipment or a large shipment may be split into smaller shipments (Ellinger and Chapman, 2011)Thus, a larger geographical area can be served with a lesser number of vehicles. It is recommended that an organization should use different modes of transportation in order to obtain economies of scale. Steps To Be Taken By the Government Global Restructuring The government should focus on the development of infrastructure and make investments in this sector. There are several challenges like lack of container space at ports, lack of road access etc. The government should address these challenges so that companies like Qube can meet the increasing demands of logistic services (Avdeichikova, 2013). The private sector should also contribute for the up-gradation of infrastructure. Only government funding cannot support this task. Regulatory Policies The government should forcefully implement several laws regarding safety and wellbeing- Heavy Vehicle National Law and The Road Safety Remuneration Act etc (Avdeichikova, 2013). Violation of these laws should lead to financial implications. Robust policies and safety programs should be implemented. Projects Related to Infrastructure Politics should not interfere with the infrastructural projects. Infrastructure Australia Plan and Infrastructure NSW plan are two strong projects (Avdeichikova, 2013). Strong plans maximize the return on investment. Development of Rail Network To meet the freight requirements, rail network should be strengthened. It is an efficient mode of transportation as low risk is involved. The government should ensure the proper construction of rail tracks. Recommendation: Keeping in View the above-discussed issues it is recommended that through the application of some of the management theories the issues related to the logistics may get resolved. The Australian government also recommends a few steps for the disentanglement of the present issues. The industry long term relationship is to optimize the complete supply chain. The missile and the upper management are to get involved in the company operations to achieve the objectives of the organizations. Conclusion: The report assisted in understanding the Qube services of the Logistics in the NSW. The Qube logistics target area with the description of the company and its features are discussed in the report. The discussed issues help in a great understanding of the process and the logistic system and guide to the company to act as the industry leader. References Avdeichikova, E. (2013). Features Of The Formation Of Channels In The Logistics And Distribution System.International Journal of Advanced Studies, 3(1), pp.4-13. Bar-Lev, S., Boxma, O., Lpker, A., Stadje, W. and Van der Duyn Schouten, F. (2011). Group testing procedures with quantitative features and incomplete identification.Naval Research Logistics (NRL), 59(1), pp.39-51. Ellinger, A. and Chapman, K. (2011). Benchmarking leading supply chain management and logistics strategy journals.The International Journal of Logistics Management, 22(3), pp.403-419. Lynch, C., Jordan, M. and Bennett, A. (2016). Optimising the logistics of life-saving drug procurement and supply in NSW and the ACT.Research in Social and Administrative Pharmacy, 12(5), p.e47. Qube.com.au. (2017).Qube | Qube Holdings | logistics services, port services, bulk material handling, third party container logistics, infrastructure. [online] Available at: https://www.qube.com.au/ [Accessed 2 Feb. 2017]. Shan, L., Wang, X. and Zhang, Z. (2011). Systematic Analysis and Research on Logistics Network.Contemporary Logistics, pp.44-50. Whiteing, T. (2003). Logistics management and strategy.International Journal of Logistics Research and Applications, 6(3), pp.185-187. Wu, L., Tan, Q. and Zhang, Y. (2013). Delivery Time Reliability Model of Logistics Network.Mathematical Problems in Engineering, 2013, pp.1-5.

Directors or the Management of Businesses †Myassignmenthelp.Com

Question: How to the Directors or the Management of Businesses? Answer: Introduction At the time of running of the businesses, the board of directors or the management of the businesses has to face some major financial risks. These financial risks are major hindrances for the performance of the businesses. Examples of the major financial risks are exposure risk, operational risk, credit risk, market risk, foreign exchange risk, economic volatility risk, liquidity risk, inflation risk and many others (Hull 2012). In order to mitigate all these financial risk factors, the business organizations need to employ effective risk management strategies. Financial Risk Management is the process of increasing the economic value of the organization by effectively managing the above-mentioned risks effectively. In the process of financial risk management, the business organizations use different kinds of strategies as if the strategy is diversifications and others (Christoffersen 2012). In the process of risk management, a crucial strategy is the hedging strategy. Hedging is the process to reduce or to control the financial risks of the business organizations. The main objective of the process of hedging is to reduce the risks related with the future change in the value of future position. Different kinds of techniques are used in the process of hedging; but in this process, hedging takes opposite and equal position in two different markets. Another crucial objective of hedging is to protect the capital of the business against the economic inflation with the help of investment in the financial instruments with high yield. Hence, hedging can be considered as one of the major tools to reduce different kinds of financial risks of the businesses (Bielecki and Rutkowski 2013). Company Background The study involves with the analysis and evaluation of the financial risk management processes of one of the best mining companies. BHP Billiton Limited. BHP Billiton is one of the largest Anglo-Australian multinational mining corporations that are involved with the processes of mining, metals and petroleum. The company was incorporated in the year of 1985 and the headquarter of the company is in Melbourne, Australia. BHP Billiton has its business operations spread all over the world. The major products of the company are iron ore, coal, natural gas, copper, petroleum and others. BHP Billiton has an employee base of 65,000. It has been seen that the company has been facing some major financial risks like external risks, operational risks and others (bhpbilliton.com 2017). Identification of the Primary Financial Risks of BHP Billiton In the business operations of BHP Billiton, the management of financial risks is an important aspect. One of the major mottos of the company is to provide greater certainty and confidence to the stakeholders of the organization by managing the business risks effectively. On the other hand, the process of business decision-making of BHP Billiton largely depends on the financial risk management of the company. As the study is about the financial risk management of BHP Billiton, it is needed to discuss the major financial risks of the company. The primary financial risks of BHP Billiton are shown below: One of the major financial risks of BHP Billiton is involved with the failure of Samarco dam. On 5 November 2015, the Samarco dam faced a trailing failure. This dam failure had an adverse effect on the financial operations of the company (Labonne 2016). The Samarco dam failure significantly affected the financial result of BHP Billiton in the financial year 2016. After the failure of Samarco dam, the business operations of BHP Billiton were closed for some days. This is an example of the incidents from where financial risks are derived. Apart from this, there are some other risks in the business operations of BHP Billiton. Another crucial financial risk of BHP Billiton is the interest rate risk. As per the financial report of BHP Billiton, the company had a total debt of $43,342 million in the year 2016. The amount of interest that needs to be paid is $12,241 million. Thus, it can be seen that the company has a huge amount of debt and this loan amount leads to a huge amount of intere st that needs to be paid in the future period (bhpbilliton.com 2017). It can be seen that BHP Billiton is exposed to the interest rate risks due to the huge amount of long-term debts. The floating rate of interest is changed with the economic condition of the country (Wu 2013). The next significant risk is the currency risk. It can be seen that the rate of currency is related with the economic condition of the country and the rate of interest. Due to worldwide economic slowdown, a significant fluctuation can be seen in the exchange rate of the currencies (Su et al. 2013). The next primary financial risk is the commodity price risk. Due to the world economic slowdown, the purchasing power of the customers has decreased and this reason affects the price of commodity of BHP Billiton. Another major financial risk of BHP Billiton is reduction in the Chinese demand. As per the speculation of the board of management of BHP Billiton, this reduction of demand is going to negatively affect the financial results of the organization (Lf and Ericsson 2015). Years Particulars Details 2012 2013 2014 2015 2016 Earnings Per Share (EPS) A 5.79 4.09 5.2 0.71 -2.4 Market Price Per Share B 78.42 68.2 47.32 25.76 35.78 Dividend Per Share C 2.2 2.28 2.36 2.48 1.56 P/E Ratio B/A 13.544 16.6748 9.1 36.2817 -14.908 Dividend Yield C/B 0.02805 0.03343 0.04987 0.09627 0.0436 The above table shows the Profit Earning Ration (P/E Ratio) and Dividend yield ratio for the last five years starting from 2012 to 2016. A higher amount of P/E ratio indicates that the investors are speculating higher growth of the company. From the above, it can be seen that the P/E ratio is in negative in 2016 as compared to 2015. Even the P/E ratio is in negative in 2016. It indicates that the investors are highly disappointed with the company due to various financial risks. From the dividend yield, it can be seen that the company has given less amount of dividend in 2016 as compared to 2015. It implies that the profit of the company is danger as the company is providing less amount of dividend. Recommendation on Hedging The above discussion sheds lights on the financial risks of BHP Billiton Limited. It can be seen that BHP Billiton has adopted many attractive strategies to mitigate the financial risks of the organization. However, based on the discussion about the primary financial risks of the organization, some major recommendations are provided below: In case of Samarco dam failure, it is recommended that BHP Billiton needs to investigate more on this failure to know the actual reason of the failure. In order to employ the effective risk management strategy, it is needed to know the main reasons of the failure of the dam. In this regard, it is necessary to form an investigation committee to discover the major reason of the failure (Smith 2016). As per the above discussion, another major primary financial risk of the company is the interest rate risk. As the fluctuation of interest risk is largely depends on the economic condition, the process hedging is to be recommended in this regard. The strategy of hedging is needed to mitigate the risk involved in the interest rates (Bingham and Kiesel 2013). As per the above discussion, the nest risk is the currency rate risk. In this regard, the recommendation is to adopt the strategy of hedging in the aspect of currency risk. As per the annual report of the organization, the company has also adopted the strategy of hedging in case of currency risks. The recommendation is same as the adopted strategy of the company as the process of hedging helps to reduce the financial risks of the organizations (Scordis and Steinorth 2012). The above discussion indicates that the next risk of BHP Billiton is the commodity risk. In relation with the commodity price risk, it is recommended to employ the strategy of hedging. The strategy of hedging will be helpful to mitigate the risks related to the commodity prices. The recommendation is provided in accordance to the strategy of the company as the company also adopted the strategy of hedging (Goss 2013). In case of the reduction of Chinese demand, it is recommended to investigate into the matter to know the reasons of the decrease in the demand. These are the recommended strategies that BHP Billiton needs to strategies to mitigate the financial risks of the company (Shen, Gao and Cheng 2012). Recommendation on Hedging As per the above discussion about the recommendation regarding the solution of the financial risks of the organization, there are three cases where the strategy of hedging is recommended. They are interest rate risk, currency rate risk and commodity price risk. this part of the study shows the type of derivatives strategies that needs to be strategies. In the case of interest rate risk, it is recommended to adopt the swap derivative for the process of hedging. Swap derivative is considered as one of the most complex derivatives. The adoption of swat derivatives allows the participants to change their cash flows. It can be seen that BHP Billiton has a large number of term debts and for this reason, the company has to pay a large amount of interest in the future. However, with the help of hedging through swap derivative, the company will be able to change its rate of interest from fixed rate to floating rate or floating rate to fixed rate. This is a private contract and the related parties can go for negotiation at the time of hedging (Saretto and Tookes 2013). In case of the currency risk, it is recommended to adopt the strategy of forward contract derivative at the time of hedging process. Forward contract is the most common and widely used contract. In the process of forward contract, two parties are agreed upon a contract to sell something in the near future and the selling price is determined at present situation. With the help of this hedging strategy, BHP Billiton will be able to set the price of the currency based on the recent time. This will help the organization to avoid the negative effect of the change in exchange rate of the currencies. It is not compulsory to disclose the all the information about forward contract hedging to people (Aid, Campi and Langren 2013). However, in case of the currency risks of the organization, the most suitable procedure will be the hedging process with the help of future contracts. In case of the future contracts, the selling or buying process takes place in near future, but the prices in which th e selling or buying process takes place will be determined in the present time. The third risk is about the risk of commodity price. In this regard, it is recommended to adopt the option contract in the process of hedging. In the process of option contract, to parties are agreed upon to sale or purchase something in the near future. In this case, one party has the obligation to sell or purchase in the near future and another party has the power to decide whether he/she wants to sell or purchase. With the help of this strategy, BHP Billiton will be able to sell his products in the near future. In this derivative, the organization will be able to make decision on the selling or purchasing the commodities in pre-determined prices. This process of hedging will be useful for the company to mitigate the risks regrinding the prices of the commodity of the organization (Voit 2013). Hedging Strategies As per the above discussion, it can be seen that there are three kinds of risks. They are interest rate risk, currency rate risk and commodity price risk. Among all these three risks, the currency rate risk and commodity prices risk will be hedged with full exposure. The interest rate swap will not be hedged. Same like the interest rate risk, the currency rate risk will not be hedged. The main reason is that the company has its presence all over the world and for this reason the company has to make currency exchanges in several countries. The main focus of the report is to make the hedging of the commodity price risk of the company (Dong, Kouvelis and Su 2014). Hundred percent of the exposure of commodity price of the company will be hedged. It implies that company will hedge all the future purchase of the commodities of the organization as the company is considering that there will be fluctuations in the future price of the commodities. As per the provided information, the hedging time or horizon is December 2017. As the company is dealing with crude oil, the future prices of crude oil will be USD $51.74. However, the company is speculating that the price of crude oil will be decreased in the near future. Hence, there is a risk that the company may have to face losses. For this reason, the company will buy put option. This process will help the company to hedge the loss amount. For example, the company is considering the fact the price of crude oil will be decreased to USD $45.74 in future. If not hedged, the company has to face the loss of USD $6 ($51.74 - $45.74). The advantage of having the hedging strategy is that with the help of put option, the company will hedge the risk of USD $6 (Loss 2012). Particulars Value Hedging Strategy Buy Put Current Price USD $51.74 Expected Price (Future) USD $45.74 Declining Price USD $6 ($51.74 - $45.74) Adequacy of Hedging in BHP Billiton As per the above discussion, it can be understood that the main purpose of the implementation of the hedging process is to minimize the risks of the business organization. There is not any exception of this fact in case of BHP Billiton. From the annual report of the company, it can be seen that the company has adopted the strategy of hedging the various aspects of the financial business operations. It can also be been seen that the company has adopted different derivatives for different business operations. One can take the example of currency rate risk of the company. It can be seen that the organization have adopted the swap derivative for the process of heeding. In case of the commodity price risk, BHP Billiton has adopted the future contract hedging strategy. Hence, it can be seen that the company has hedged the business operations based on the merit of the risks. In this regard, it can be said that BHP Billiton has done quite a good job as the company is adequately hedged. Howev er, it is recommended the company needs to frequently review its hedging techniques to know that whether there is any loopholes in the hedging process of the company. It is also recommended that BHP Billiton should also search for scopes so that the hedging processes of the company can make more effective (bhpbilliton.com 2017). Conclusion According to the above discussion, it can be seen that there are some major financial risks in the business operation of BHP Billiton. They are commodity price risk, interest rate risk, currency rate risk, decrease in Chinese demand, the samarco dam risk and many others. Among all these risks, commodity price risk, interest rate risk and currency rate risk demand the strategy of hedging to be minimized. As per the recommendation, swap derivative hedging process will be applicable for interest rate risk; forward contract derivative risk will be applicable for currency rate risk and option contract derivative hedging process will be applicable for commodity price risk. It can be seen that BHP Billiton is adequately hedged as the company has hedged most of the business activities based on the merit of the risks. However, it is recommended that the company need to review its hedging activities for improvements. References Aid, R., Campi, L. and Langren, N., 2013. A Structural Risk?Neutral Model for Pricing and Hedging Power Derivatives.Mathematical Finance,23(3), pp.387-438. BHP Billiton. (2017).BHP Billiton | Minerals Australia. [online] Available at: https://www.bhpbilliton.com/our-businesses/minerals-australia [Accessed 19 May 2017]. Bhpbilliton.com. (2017).Annual Report 2016. [online] Available at: https://www.bhpbilliton.com/-/media/bhp/documents/investors/annual-reports/2016/bhpbillitonannualreport2016.pdf?la=en [Accessed 19 May 2017]. Bielecki, T.R. and Rutkowski, M., 2013.Credit risk: modeling, valuation and hedging. Springer Science Business Media. Bingham, N.H. and Kiesel, R., 2013.Risk-neutral valuation: Pricing and hedging of financial derivatives. Springer Science Business Media. Christoffersen, P.F., 2012.Elements of financial risk management. Academic Press. Dong, L., Kouvelis, P. and Su, P., 2014. Operational hedging strategies and competitive exposure to exchange rates.International Journal of Production Economics,153, pp.215-229. Goss, B., 2013.Futures markets: their establishment and performance. Routledge. Hobson, D. and Klimmek, M., 2012. Model-independent hedging strategies for variance swaps.Finance and Stochastics,16(4), pp.611-649. Hull, J., 2012.Risk management and financial institutions,+ Web Site(Vol. 733). John Wiley Sons. Labonne, B., 2016. Mining dam failure: Business as usual?.The Extractive Industries and Society,3(3), pp.651-652. Lf, A. and Ericsson, M., 2015. Iron Ore 2015: Market Review and Forecast.Engineering and Mining Journal,216(11), p.34. Loss, F., 2012. Optimal hedging strategies and interactions between firms.Journal of economics management strategy,21(1), pp.79-129. Saretto, A. and Tookes, H.E., 2013. Corporate leverage, debt maturity, and credit supply: The role of credit default swaps.Review of Financial Studies,26(5), pp.1190-1247. Scordis, N.A. and Steinorth, P., 2012. Value from hedging risk with reinsurance.Journal of Insurance Issues, pp.210-231. Shen, L., Gao, T.M. and Cheng, X., 2012. China's coal policy since 1979: A brief overview.Energy Policy,40, pp.274-281. Smith, K., 2016. Brazil: BHP Billiton under pressure for Samarco compensation.Green Left Weekly, (1119), p.18. Su, R., Yi, R., Hooper, K. and Dutta, A., 2013. Information Spillover, Profit Opportunities, and Return Deviations Analysis: The Case of Cross-Listed BHP Billiton.International Journal of Business and Economics,12(2), p.155. Voit, J., 2013.The statistical mechanics of financial markets. Springer Science Business Media. Wu, M., 2013. Coal mining.

360

Canadas Copyright Law Essays - Copyright Law, File Sharing

Canada's Copyright Law Essays - Copyright Law, File Sharing Canada's Copyright Law Canada's Copyright Law Canada's copyright law is one of our hardest laws to enforce. The reason the police have so much trouble enforcing this law, is due to technology. This law is very easy to break, and once broken, it is very hard to track down violators. So although some form of a copyright law is needed, the one we have has, too many holes to be effective. There are three main ways in which the copyright law is broken in everyday life. They is audio/video tape copying, plagiarism, and software piracy. The first, and most commonly violated aspect of the copyright law, is the copying of audio tapes for oneself and friends. Thanks to the invention of dual cassette stereos, this has become very easy. You simply take an original or even another copy of a tape, as well as a blank tape. Stick them both in to the stereo and bingo you have a new tape. You also just broke the law. Along with copying audio tapes, now we can copy video tapes almost as easily. If you hook two VCR's together, they can copy from one to the other. You could rent a movie form the video store, copy and return it, with no one the wiser. The problem with copying video and audio tapes is that for every copy you make the recording artist, the actors, producers and everyone else who collect royalties from the tapes lose money. If the companies start to lose money, they raise prices. Thus a vicious circle begins. As prices go up, fewer people buy original copies. If less people buy the original cassettes prices will once again rise. Another major form of piracy is plagiarism. The stealing of someone elses ideas or work. The biggest category of people who fall into here are students. Very often a student when doing a research paper will "accidently" forget to footnote his work. By "forgetting" to give the author credit, the student has claimed the work as his own. Another reason students may copy someone else's work is to sound more sophisticated hoping that if they use someone elses words it will sound better than their own. Generally, this provides an easy way for a teacher or the police to catch them. Teachers also plagiarize rather frequently. Very often a teacher will photocopy several pages from a book, in order to save the students the expense of having to buy the book for themselves. While this is a noble act by the teacher, in most cases, this is illegal. Unless the author of the book, gave consent for his/her work to be freely distributed, teachers can't copy it any more than students or anyone else can. The third category of piracy is Software Pirating. There are several forms which this can take. The most common form is very similar to audio/video cassettes. It is when someone copies a game or program from his/her computer to someone elses. As long as the two people have the same type of computer, (they both have apples or IBM's) this is a very simple process, so long as the programmer didn't put a bug into the program (a precaution they take against people copying their work). Another form of Computer Piracy is a "cracker". A cracker is someone who has an in-depth knowledge of computers and programming. He can then remove the "bug" that prevents programs from being copied. After he removes the bug he's able to distribute the software at his own discretion. This is in direct conflict with the copyright law, because the program was not meant to be copied thus the bug. It therefore becomes illegal to remove the bug. Like audio/video cassettes copying, computer games causes people to lose money. In this case, instead of it being the singer, or actors, it is the programmer, and the software companies who lose. This leads to the same vicious circle. More copies make higher prices etc.. The copyright law is hard to enforce likewise so are the penalties. If you are found in violation of breaking the copyright laws, you probably will only have to pay a fine. However, the fines can be quite substantial and depending where you are in the distribution chain (how many copies were made before yours) the fine varies, with whoever copied the original paying the most. In extreme cases, where a contract is enacted upon the purchase of the original copy like with Word Perfect, a

Globalization Essay Example | Topics and Well Written Essays - 250 words - 10

Globalization - Essay Example Globalization also allows businesses to take up cost cutting measures by outsourcing production to countries where they can avail the benefits of cheaper labor, raw material, equipment, processing etc. that being said, operating in an international market also poses a number of threats some of the major ones being compliance to laws of specific countries of operations and increased competition For example, Nike outsourced its production to Asia and was criticized greatly for not considering the significant amount of child labor used in the factories there. Thus, the need have a strategic competitive edge is imperative for success in this era of globalization. For governments, globalization is seen as a threat as well as an opportunity. On one hand it hampers the growth of local industries and adds the aspect of uncertainty to the economic construct of a country. This is why many countries make it difficult for foreign companies to enter and operate in the home country, as a measure to protect their local industries to promote self-sufficiency For example; China has restrictive import policies so that the local industry does not suffer as a result of increasing trade. On the up side, globalization opens doors to trade and investment, boosting the economy (Imf.org). It also allows greater consumer power of choice and the influx of foreign business helps in the development of technology and communication locally. Lastly, it helps in countries to maintain positive relationships with each other, contributing to world peace and regional harmony like the trade relationship between US and European Union aimed at bringing both regions together th rough trade. Agreements like the transatlantic trade and investment partnerships regulate and support such trade