Reflection Of My Experience My Writing, And Writing

During this semester, I have learned a great deal about my own writing, and writing in general. One of the main takeaways from this course for me was how to break down the intricate process of writing papers. In addition, I developed viable skills regarding going into more in-depth detail during each step of the writing process. I enjoyed having the freedom to write about a topic that I was able to choose. This allowed me to research and write about something that actually interested me immensely. Having to work with one topic for the entire semester taught me how to find reliable resources and how to pick out the essential research from each article. Our first assignment, the autoethonography set up my research for the rest of the†¦show more content†¦2017, dcjournal.ca/doi/abs/10.3148/cjdpr-2017-020. This citation is incorrect because the entire title of the article is not capitalized and the name of the journal is not italicized. When I corrected this citation, it looked like this: Jamieson, Jennifer A, and Laura Gougeon. â€Å"Gluten-Free Foods in Rural Maritime Provinces: Limited Availability, High Price, and Low Iron Content.† Canadian Journal of Dietetic Practice and Research, 11 Aug. 2017, dcjournal.ca/doi/abs/10.3148/cjdpr-2017-020 The annotated bibliography is the assignment that helped me the greatest while I was writing my research paper. For instance, going through and finding the best sources and analyzing them allowed me to find what the main points of my research paper should be. This also made writing the research paper easier because I had already written about what the main points were for each of the articles. With little editing, I could use the summaries of the resources in my paper. I used this method of finding resources for the added resources in my paper as well. This assignment also helped with the editing process and making revisions. Having the important research already written before writing my research paper made me read over what I had written to find what parts should actually be incorporated into my paper. Originally, I used the facts right out of the article, but when I went back and completed revisions, I realizedShow MoreRelatedReflection Of Writing : My Writing Experience In The Homeroom871 Words   |  4 PagesAs a child, I remember my first writing experience outside the classroom. For it would teach me more than just putting words together to complete a sentence, but to incorporate the meaning. Entering my third year of elementary school I encountered the most humblest teacher named Ms. Cologne. She was the most good hearted, caring, humane person I met at a young age. She was black with dark straight hair and wore thick framed plastic glasses. Her classroom was bright, full of colors with the ABC’sRead MoreLessons Learned Paper1448 Words   |  6 Pagesmotivated me to endure in my program. 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As a college studentRead MoreEssay on A Reflection Upon My Writing911 Words   |  4 Pagesthe key for how my thoughts are dictated on this blank white sheet.† After writing this in my in-class journal discussing my transition from five-paragraph writing to actual formation of thoughts without a specific format, I realized that this process was a larger undertaking than I originally thought. Through endless amounts of essay writing the personal academic improvements that have taken place this quarter are indescribable in com parison to any other academic feat made in my brief but fulfillingRead MoreMy Experience in English Composition1142 Words   |  5 PagesMy experiences in this six-week English Composition-I class have been challenging and rewarding, as well as educating and developing. As far as challenging, I have only been able to attend half of the classes and therefore have only learned half as much as I could have learned otherwise. 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Introduction. This Paper Is A Critical Analysis Of Two

INTRODUCTION This paper is a critical analysis of two academic papers: McKeown, J., Ryan, T., Ingleton, C., and Clarke, A., 2015, ‘You have to be mindful of whose story it is : The challenges of undertaking life story work with people with dementia and their families. Dementia, (Qualitative) and Milne, A., Guss, R., and Russ, A., 2014, Psycho-educational support for relatives of people with a recent diagnosis of mild to moderate dementia: An evaluation of a ‘Course for Carers . Dementia. (Quantitative) These papers have been selected as they embrace contrasting research strategies on Dementia- qualitative and quantitative. The main aim of this analysis is to underline the positive/negative facts in the academic papers in terms of the†¦show more content†¦The main motives include providing more knowledge and understanding of dementia and also its effect on behaviour as well as it progression rate. Provide carers with an impressive understanding of available local support servi ces and how they can be accessed. It also aims at assisting in surpassing the shock relating to an initial diagnosis of dementia as well as ways to maximize life and well-being. RESEARCH Qualitative The purpose of this qualitative study is to explore the challenges faced by nurses/carers of the dementia patient and dementia patients themselves. This study used a life story work (LSW) method to investigate the experiences of four people with dementia, their family carers and care staff across four care settings within an NHS Health and Social Care Trust in the UK. An individualized approach was taken in each case in response to the wishes of those involved. Three cases developed a life story book, which is a photograph album or scrapbook that includes, for example, photographs and text to depict a persons story; one person s story was depicted in a pen picture, which was a two-page written account of the person s life. An individualised approach was taken in each case in response to the wishes of those involved. Three cases developed a life story book, which is a photograph album or scrapbookShow MoreRelatedThe Military Decision Making Process Essay1235 Words   |  5 PagesPro cess (MDMP) is a decision-making model to assist military members in making sound military decisions and to compile operation orders. This paper will describe MDMP and apply it to a recent job-related decision of the author; preparation for a combat logistics patrol (CLP) while deployed in Iraq. The paper will identify the steps in the model and describe how critical thinking impacted the decision. 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Elisa free essay sample

# 8217 ; S Life In # 8220 ; The Chrysanthemums # 8221 ; Essay, Research Paper Elisa # 8217 ; s Life in # 8220 ; The Chrysanthemums # 8221 ; Thesis: In # 8220 ; The Chrysanthemums, # 8221 ; John Steinbeck negotiations about Elisa # 8217 ; s defeat for her deficiency of kids, grasp as a adult female and realisation of her life. I. Chrysanthemums are a symbol of her kids. A. She protects them as if they were kids 1. She puts a fencing around them. 2. She keeps them out of the range of plagues. B. Her felicity about her ability to foster them. II. Chrysanthemums typify Elisa # 8217 ; s muliebrity and gender. A. Henry does non acknowledge her muliebrity. 1. Lack of communicating 2. He does non appreciate her work B. The brush with the tinker C. Her hopes about her matrimony and life III. Realization of her life. A. Her ego attention B. The realisation of the truth C. Her credence of her hereafter. Symbolism in # 8220 ; The Chrysanthemums # 8221 ; The function of adult females in most civilizations is and has been strongly affected by the function of adult male for many centuries. In the short narrative # 8220 ; The Chrysanthemums, # 8221 ; John Steinbeck negotiations about a proud, strong adult female named Elisa Allen, who feels frustrated with her present life. Her defeat stems from non holding a kid and from her hubby # 8217 ; s failure to look up to her romantically as a adult female. The lone mercantile establishment for her defeat is her flower garden, where she cultivates beautiful chrysanthemums. Steinbeck uses chrysanthemums as symbols of the inner-self of Elisa. Eliza tends her garden and handles the chrysanthemums with love and attention, merely as she would manage her ain kids. Elisa is really protective of her flowers and topographic points a wire fencing around them ; she makes certain # 8220 ; no aphids were at that place, no sowbugs or snails or cutworms. Her terrier fingers destroyed such plagues before they could acquire started # 8221 ; ( 1082 ) . These plagues represent natural injury to the flowers, and merely as any good female parent, she removes the plagues before they can harm her kids. The chrysanthemums are a symbol of her kids, and she is really proud of them. Elisa is happy and pleased by her ability to foster these flowers. Elisa # 8217 ; s pride in her gift to turn such beautiful flowers reinforces the fact that the flowers are a replacing for her kids. I add-on, the chrysanthemums come to typify Elisa # 8217 ; s muliebrity and gender. Elisa feels that Henry does non acknowledge or appreciate her muliebrity, and this feeling causes her to be distant towards him. Henry fails to see his defects, but Elisa fails to indicate them out to him. On detecting her award flowers, all Henry can state is, â€Å"I wish you’d work out in the grove and raise some apples that big† ( 1083 ) . Henry’s inability to understand Elisa’s needs leaves her vulnerable in her brush with the tinker. The meeting with the tinker renews Elisa’s feelings of muliebrity and gender as a adult female. Her opposition to his mundane affairs disappears after the tinker romantically describes the chrysanthemums as a â€Å"quick whiff of coloured smoke† ( 1085 ) . By look up toing the chrysanthemums, he admires her. With a few well-placed words from the tinker, her masculine image has been replaced with a feminine 1. As the tinker leaves, she begins to experience hope for herself and her matrimony. She sees a â€Å"bright direction† ( 1087 ) and a new beginning for her matrimony. After the tinker leaves, Elisa bathes, scouring herself # 8220 ; with a small block of pumice, legs and thighs, pubess and thorax and weaponries, until her tegument was scratched and ruddy # 8221 ; ( 1088 ) . She prepares for her dark out with her hubby. She dresses, stands in forepart of the mirror, and admires herself, her organic structure, her muliebrity. She hopes Henry will acknowledge her demands as a adult female and supply her with the love affair and exhilaration for which she waits. However, this hope is rapidly dashed. Henry # 8217 ; s best compliment on her visual aspect after she has changed is # 8220 ; You look strong plenty to interrupt a calf over your articulatio genus, happy plenty to eat it like a Citrullus vulgaris # 8221 ; ( 1088 ) . This uncomplimentary comment on her visual aspect does non make much for Elisa # 8217 ; s self-importance as a adult female. Her hope is eventually crushed when she sees the flowers on the route. She feels devastated by the ti nker # 8217 ; s insensitive rejection of her very psyche. She realizes that her life is non traveling to alter. Her muliebrity and gender are neer traveling to be to the full appreciated nor understood by Henry. Her desolation at this realisation is completed and leaves her # 8220 ; shouting weakly # 8212 ; like an old adult female # 8221 ; ( 1089 ) . Therefore, the chrysanthemums symbolize Elisa # 8217 ; s function as a adult female. First, they symbolize her kids ; subsequently, they represent her muliebrity and gender. Elisa feels frustrated with her life because kids and love affair are losing in her matrimony with Henry. Further, her hubby fails to appreciate her feminine qualities and her emotional demands. The brush with the tinker reawakens her gender and brings hope to Elisa for a more exciting and romantic matrimony, but her realisation that her life is non traveling to alter is crystallized when she sees the flowers thrown on the route. It devastates her wholly to hold to settle for such an unfulfilling life, doing her realized that her life will stay the same. Bibliography fictions

Swot of Sika Group Essay Example For Students

Swot of Sika Group Essay Sika Group Sika Group Financial and Strategic Analysis Review Reference Code: GMDCH25387FSAS Publication Date: MAR 2009 Company Snapshot Key Information Sika Group, Key Facts Web Address www. sika. com Financial year-end December Number of Employees 12,900 Swiss Stock Exchange SIK Source: Annual Report, Company Website, Primary and Secondary Research Global Markets Direct Company Overview Sika Group (Sika) is a globally integrated groupengaged in the field of specialty chemicals. Theoperations of the company are divided into twobusiness divisions namely the construction divisionand the industry division. Sika offers processingmaterials, which are used in sealing, bonding,damping, reinforcing and protecting load-bearingstructures in construction and industry. Key Ratios Sika Group, Key Ratios P/E 6. 4 EV/EBITDA 4. 3 Return on Equity (%) 18. 2 Debt/Equity 0. 5 Operating profit margin (%) 9. 1 Dividend Yield 0. 1 Note: Above ratios are based on share price as of 06-Mar-2009 Source: Annual Report, Company Website, Primary and Secondary Research Global Markets Direct Share Data Sika Group, Share Data Price (CHF) as on 06-Mar-2009 687. 5 EPS (CHF) 107. 0 Book value per share (CHF) 89. 9 Shares Outstanding (in million) 2. 5 Source: Annual Report, Company Website, Primary and Secondary Research Global Markets Direct SWOT Analysis Sika Group, SWOT Analysis Strengths Weaknesses Global Presence Research and Development Focus Strong Brand High Dependency on Construction Segment Poor Operating Margin Opportunities Threats Chinese Construction Market Capital Investments Strategic Acquisitions Comp liance with REACH Decreasing demand for Automotives Intense Competition Source: Annual Report, Company Website, Primary and Secondary Research Global We will write a custom essay on Swot of Sika Group specifically for you for only $16.38 $13.9/page Order now Markets Direct Performance Chart Sika Group, Performance Chart (2004 2008) Source: Company Annual Report Global Markets Direct Financial Performance The company has reported revenues of (Swiss Francs) CHF 4,632. 40 million during the fiscal year ended 2008, an increase of 1. 15% over 2007. The operating profit of the company was CHF 422 million during the fiscal year 2008, a decrease of 17. 38% over 2007. The net profit of the company was CHF 266. 70 million during the fiscal year 2008, adecrease of 21. 93% over 2007. Table of Contents Sika Group- Financial and Strategic Analysis Review Reference Code: GMDCH25387FSAS Table Of Contents Key Information. 1 Key Ratios.. Share Data.. 1 Performance Chart. Table Of Contents 2 List of Tables.. 3 List of Figures. 3 Key Facts. Business Description. 4 Major Products and Services. Overview. 6 History SWOT Analysis Overview 8 Overview.. Sika Group Strengths. 8 Global Presence.. 8 Research and Development Focus 8 Strong Brand. 8 Sika Group Weaknesses.. High Dependency on Construction Segment 8 Poor Operating Margin. 8 Sika Group Opportunities. Chinese Construction Market 9 Capital Investments Strategic Acquisitions 9 Sika Group Threats. Compliance with REACH 9 Decreasing demand for Automotives 9 Intense Competition.. Key Competitors. 10 Key Employees.. 0 Key Employee Biographies.. 11 Company Statement 2 Locations And Subsidiaries.. 14 Head Office.. 4 Other Locations Subsidiaries. 14 Financial Ratios.. 15 Capital Market Ratios.. . 15 Annual Ratios. 15 Interim Ratios.. 6 Ratio Charts. 17 Appendix 8 Methodology 18 Ratio Definitions. 8 About Global Markets Direct 21 Contact Us 1 Disclaimer. 21 Table of Contents Sika Group- Financial and Strategic Analysis Review Reference Code: GMDCH25387FSAS List of Tables Sika Group, Key Facts.. Sika Group, Key Ratios. 1 Sika Group, Share Data Sika Group, Key Facts.. 4 Major Products and Services. Sika Group, History. 7 Sika Group, Key E mployees 0 Sika Group, Key Employee Biographies 11 Sika Group, Subsidiaries 4 Sika Group, Ratios based on current share price. 15 Sika Group, Annual Ratios 5 Sika Group, Interim Ratios 16 Currency Codes. 8 Capital Market Ratios.. 18 Equity Ratios 8 Profitability Ratios. 19 Cost Ratios 9 Liquidity Ratios 19 Leverage Ratios. 0 Efficiency Ratios. 20 List of Figures Sika Group, Performance Chart (2004 2008). Sika Group, Ratio Charts.. 17 Sika Group Sika Group- Financial and Strategic Analysis Review Reference Code: GMDCH25387FSAS Key Facts Sika Group, Key Facts Corporate Address Zugerstrasse 50, Baar, CH-6341, Switzerland Ticker, Exchange Symbol SIK Telephone 41 58 436 68 00 No. of Employees 12,900 Fax 41 58 436 68 50 Turnover (in USD Million) 4,305 URL www. sika. com Fiscal Year End December Industry Chemicals Locations Asia-Pacific, Australia, Bahrain, China, Croatia, Europe, France, Germany, India, Ireland, Italy, Middle East and Africa, North America, Russian Federation, South Africa, South and Central America, Spain, Switzerland, Turkey Source: Annual Report, Company Website, Primary and Secondary Research Global Markets Direct Business Description Sika is engaged production of a wide range of specialty chemicals. Its product portfolio include concrete admixtures, specialty mortars, sealants and adhesives, damping and reinforcing materials, structural strengthening systems, industrial flooring and sealing films. The company operates in different countries of Europe North, Europe South, North America, Latin America and Asia-Pacific. The group’s specialty chemicals business is divided into two reportable business divisions namely the Construction Division and the Industry Division. The Construction Division offers various types of products and solutions that are used in concrete production, grouting and fixing, concrete repair and protection, structural strengthening, elastic sealing and bonding, steel protection, flooring and lining, waterproofing and roofing. In addition, it also offers concrete spraying machines, concrete spraying pumps, liquid dosing units, telescope spraying arms and concrete spraying systems. The customers of Sika under this division include concrete producers, contractors and distributors. Sika offers Sika ViscoCrete-25 MP, which is a plasticizer for concrete for concrete producers. In addition, the company also offers Sika Bond-T52FC/-T54 FC, which is an adhesive system for wooden flooring, along with SikaBond Dispenser-5400 to the contractors. The company received additional orders for large projects in the automobile, semi-conductor and electronic industry in Taiwan, China, Ireland, Germany and the United Kingdom. Further, it also won contracts for retail and logistics projects in Korea, China, United Kingdom and Poland as well as big parking garages and arenas in Germany, Austria, United Kingdom and Poland. In addition, the company provides Sikaplan G, a PVC membrane for sealing large roof expanses installed with mechanical fasteners. It offers various solutions for bonding precast concrete elements in the construction of new structures, bridges and towers through auxiliary products such as the SikaGrout-300 PT and Sikadur-31 SBA. Under the Industry Division, the company is engaged in providing research development services, technical services and system engineering solutions. It develops solutions and processing materials for bonding, sealing, damping and reinforcing. It serves customers in various sectors including automotive, after market, transportation, marine, and appliances components. Further, the company is engaged in development nd production of roofing system solutions for building owners, architects, planners and contractors. Its roofing products include Sarnafil and Sikaplan which are designed for new constructions and refurbishments. Sika operates in facades, fenestration and insulating glass business through Sika FFI. SIka FFI is a team of specialists in sealing and bonding in facades, windows and insulating glass. The various products and applications of Sika FFI are structural glazing, window bonding, insulating glass, weather seals, glazing applications, panel systems, water proofing systems and ancillary products. Sika operates in field of underground construction through Sika Tunneling Mining. This company is involved in new developments in the three core fields namely construction chemicals, equipment and waterproofing systems. Sika carries out its distribution activities through Sika Distribution. It distributes various global brands namely Sikaflex, Sikasil, Sika Boom, SikaBond, Sikalastic, Sikagard, Sika AnchorFix, Sikadur and Sikafloor. The company operates through several distributors namely, builder merchants, home centers, floor covering trade, timber trade, roofing dealers, hardware stores, agro dealers and paint dealers. Sika Group Sika Group- Financial and Strategic Analysis Review Reference Code: GMDCH25387FSAS During FY 2008, the construction division accounted for 80% of the total revenues of the group and the industry division accounted for the balance 20%. The group classifies its geographical locations into six regions namely Europe North, Europe South, North America, Latin America, IMEA and Asia/Pacific. The Europe North region accounted for 37. 7% of the total revenue of the group for the fiscal year ended 2008 followed by Europe South (22. 7%), North America (14. 2 %), Asia/Pacific (10. 4 %), Latin America (9. 4 %) and IMEA (5. %). During fiscal year 2008, Sika completed the acquisition of Iotech Group Limited, which specializes in formulation, production and supply of polyurethane liquid membranes and intermediates. This acquisition enables Sika to expand its technology and market know-how and build up a market position in polyurethane liquid membranes for roofing. In 2009, Sika acquired P elplast Utvecklings AB based in Vadstena, Sweden. This acquisition will expand Sika’a offering in specialty epoxy resins for compact floors. Sika Group Sika Group- Financial and Strategic Analysis Review Reference Code: GMDCH25387FSAS Major Products and Services Overview Sika is providing various types of specialty chemical products, brands and systems to the construction and industrial customers. The companys key products and brands include the following: Major Products and Services Products: Concrete admixtures Specialty mortars Sealants Adhesives Damping Reinforcing materials Structural strengthening systems Industrial flooring Sealing films Shotcrete Admixtures Grouting and Fixing Polymer-binder-based mortars Fiber Reinforced Polymers Structural Glazing Window bonding Insulating glass Weather seals Glazing applications Panel systems Water proofing systems Ancillary products Equipments: Concrete spraying machines Concrete spraying pumps Liquid dosing units Telescope spraying arms Concrete spraying systems Brands: Sika ViscoCrete-25 MP Sika Bond-T52FC/-T54 FC SikaBond Dispenser-5400 Sikaplan G SikaGrout-300 PT Sikadur-31 SBA Sikaflex SikaBond Sika AnchorFix Sika Mix Sarnafil and Sikaplan Sika CarboDur Sikasil Sika Boom Sikalastic Sikagard Sikadur Sika Group Sika Group- Financial and Strategic Analysis Review Reference Code: GMDCH25387FSAS Sikafloor Sika BlackSeal Sikacryl Source: Annual Report, Company Website, Primary and Secondary Research Global Markets Direct History Sika Group, History 2009 Acquisitions/Mergers/Takeovers In 2009, Sika acquired Pelplast Utvecklings AB based in Vadstena, Sweden 2008 Acquisitions/Mergers/Takeovers In 2008, Sika completed the acquisition of Iotech Group Limited, a specialist in formulation, production and supply of polyurethane liquid membranes and intermediates. 2008 Acquisitions/Mergers/Takeovers In January 2008, Sika purchased the business of the German Tricosal GmbH Co. KG in Illertissen. 2008 Acquisitions/Mergers/Takeovers In 2008, the company over the business for polymer-based industrial flooring of Valspar Corporation in the US. 007 Other Sika opened a new production facility in Turkey which deals with manufacturing admixtures, mortars, coatings as well as resins for flooring. 2007 Other Sika opened its sixth production facility in China. This facility would produce Sikaflex polyurethane adhesives as well as concrete admixtures and mortars 2007 Other In 2007, Sika acquired MRT Construction Products located in Edmonton, Canada. 2005 New Products/Services In 2005, Sika introduced Sika ViscoCrete-25 MP, a super plasticizer for concrete. 1968 Stock Listings/IPO During 1968, its shares listed on the SWX Swiss Exchange. 910 Incorporation/Establishment In 1910, Sika group was founded in Zurich. Source: Annual Report, Company Website, Primary and Secondary Research Global Markets Direct Sika Group Sika Group- Financial and Strategic Analysis Review Reference Code: GMDCH25387FSAS SWOT Analysis Overview Overview Sika Group (Sika) is a specialty chemical company engaged in developing processing materials used in sealing, bonding, damping, reinforcing and protecting load-bearing structures in construction and other industries. It has operations across the globe in more than 72 countries. The company has 55 global production sites of which 23 are located in Europe. Sika’s global operations have enabled the company to cater a diversified customer base. The focused research and development activities of the company have enabled it in developing a strong product portfolio. The growing demand for construction chemicals in China and the strategic investments and acquisitions made by the company are expected to further growth. However, intense competition in the market along with decreasing demand for automotives could adversely impact companys performance. Sika Group Strengths Global Presence Sika is a global company with operations in more than 72 countries across the world. Its operations are spread across Europe, North America, Latin America, Middle East and Africa, and Asia Pacific. The company has 55 manufacturing facilities located across the world with 23 in Europe. Its operations across the world are regulated by more than 100 production and marketing companies. Global presence enables the company to cater to broad range of customers worldwide and provides several growth opportunities. It also reduces the risk related to operation of the company’s business in limited geography. Research and Development Focus Sika gives utmost importance to research and development so as to develop new and innovative products. The company follows a centralized and decentralized research strategy. Centrally organized research handles long term research programs, delivers analytical services and establishes RD management for the entire company. The company’s decentralized research deals with adaptation of products, solutions and applications to regional or customer-specific requirements. Sika operates nine technology centers across America, Europe and Asia which focus on regional adaptation of products, solutions and applications. Further, the company participates in various international projects and is active among other organizations in the NanoCem Consortium. To further enhance its research and development activity, the company collaborates with various top universities in Switzerland, the USA, Germany, Spain, France, China and India. Sika’s total research and development spending during the year increased to CHF 74. 1 million in 2008 from CHF 65. million in 2007. The company’s patent filings increased from 60 in 2007 to 80 in 2008; and the number of invention disclosures amounted to 84 in 2007. Sika’s focused research and development activity has enabled it in developing several new and innovative products over the years. Strong Brand Sika enjoys a strong brand presence and its logo is recognized the worldover as a sign of quality, innovatio n and service. Sika has a high degree of brand awareness particularly as a logo. This has enabled the company to place high value on consistent and standardized use of the logo. Customers are ensured of receiving high quality and service wherever the Sika logo appears. The Sika brand as well as 614 additional trademarks such as Sikaflex, Sika ViscoCrete or SikaBond provide a market advantage to the company. The strong brand-image of the company enables it to distinguish the product from its competitors. In addition, the company’s brand lends its products a positive value perception and retains the confidence of its customers. Sika Group Weaknesses High Dependency on Construction Segment The company is generating a major part of its revenues from the construction segment. .u1a6208d5d176c0d845dd3f486ebc55a6 , .u1a6208d5d176c0d845dd3f486ebc55a6 .postImageUrl , .u1a6208d5d176c0d845dd3f486ebc55a6 .centered-text-area { min-height: 80px; position: relative; } .u1a6208d5d176c0d845dd3f486ebc55a6 , .u1a6208d5d176c0d845dd3f486ebc55a6:hover , .u1a6208d5d176c0d845dd3f486ebc55a6:visited , .u1a6208d5d176c0d845dd3f486ebc55a6:active { border:0!important; } .u1a6208d5d176c0d845dd3f486ebc55a6 .clearfix:after { content: ""; display: table; clear: both; } .u1a6208d5d176c0d845dd3f486ebc55a6 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u1a6208d5d176c0d845dd3f486ebc55a6:active , .u1a6208d5d176c0d845dd3f486ebc55a6:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u1a6208d5d176c0d845dd3f486ebc55a6 .centered-text-area { width: 100%; position: relative ; } .u1a6208d5d176c0d845dd3f486ebc55a6 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u1a6208d5d176c0d845dd3f486ebc55a6 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u1a6208d5d176c0d845dd3f486ebc55a6 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u1a6208d5d176c0d845dd3f486ebc55a6:hover .ctaButton { background-color: #34495E!important; } .u1a6208d5d176c0d845dd3f486ebc55a6 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u1a6208d5d176c0d845dd3f486ebc55a6 .u1a6208d5d176c0d845dd3f486ebc55a6-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u1a6208d5d176c0d845dd3f486ebc55a6:after { content: ""; display: block; clear: both; } READ: Galileo (882 words) EssayThis segment accounted for 80% of total revenue of the company in year 2008.. The company’s high dependency on construction segment may expose it to business risk. If the demand for the products and services of the segment decline, then the revenues of the company may be adversely affected. Poor Operating Margin During the fiscal year 2008, Sika recorded a poor operational performance. The operating profit of the company was CHF 422. 0 million during the fiscal year 2008, a decrease of 17. 4% over 2007. The operating margin declined from 11. 1% in 2007 to 9. 1% in 2008. The decline in operating margin was due to increase in operating expenses by 3. 5%. Further, the massive, short-term increase in raw material prices affected the profitability. The poor operational performance reveals the challenge of managing costs. The inability of the company to manage its expenses efficiently could adversely affect its profitability. Sika Group Sika Group- Financial and Strategic Analysis Review Reference Code: GMDCH25387FSAS Sika Group Opportunities Chinese Construction Market The demand for construction chemical products used in on-site applications is increasing in China. The demand is expected to reach a total of CNY 40 billion by 2012, representing a 10. 1% per year growth from 2009. This growth would be driven by increase in both new construction, and improvement and repair projects. Further, it has been predicted that caulks and adhesives will remain the largest construction chemical product category in 2012, accounting for about 40% of total industry sales. The next biggest product category is cement and asphalt additives. In addition, demand for polymer flooring is also expected to increase, driven by increasing use of these products in high-end residential and commercial parking. Demand for sprayed polyurethane foam will be boosted by its increasing usage in insulation applications. The increasing demand in China for various construction chemical products could boost the company’s sales in the region. Capital Investments The company has made several strategic investments during the fiscal year 2008. Investments in property, plant and equipment have increased from CHF 179 million in 2007 to CHF 224 million in 2008. The company continues to focus on increasing the annual production capacity of Sikaflex and Sika ViscoCrete, and roofing and flooring systems, as the demand for these products is steadily increasing. Apart from investments into newer facilities, the company focused on extension or modernization of existing production plants. During fiscal 2008, the company completed construction of its new production facility for Sikaflex in Dudingen, Switzerland. In addition, the production capacity for Sikaflex in Europe was doubled. Further, the company enhanced the capacity for roofing membranes in Dudingen, Switzerland. The other new facilities added include production units for high-viscosity polyurethane adhesives in the US and in Japan, a facility for concrete additives in China and two installations for Sika ViscoCrete in Belgium and Germany. In addition, the company has made investments for developing a new research and development center in Zurich, Switzerland. The company is looking foward to meet the increasing demand for various products through strategic investments. Strategic Acquisitions Along with organic growth, Sika continuously focuses on growth through acquisition. It focuses on the acquisition of those assets and technologies which would strengthen or compliment its core business and the ones which could be applied worldwide. In January 2008, Sika purchased the business of the German Tricosal GmbH Co. KG, one of the leading enterprises in the area of sealing and waterproofing of buildings and civil engineering structures in Germany. This acquisition is expected to expand the product portfolio of Sika and strengthen its know-how for the sealing of structures. In addition, Tricosal’s area-wide distribution encompassing four branch offices as well as onsite services has strengthened its project business in the German market. Further, Sika took over the business for polymer-based industrial flooring of Valspar Corporation in the US. This acquisition ie expected to enable the company to enhance its position in the flooring systems sector. The acquisition of Iotech Group Limited, a specialist in formulation, production and supply of polyurethane liquid membranes and intermediates is expected to enable Sika to expand its technology and market know-how and build up a market position in polyurethane liquid membranes for roofing. More recently in 2009, Sika acquired Pelplast Utvecklings AB based in Vadstena, Sweden. The acquisition will add value to Sika’a offering in specialty epoxy resins for compact floors. The acquisitions made by Sika are expected to broaden its product portfolio and would help in reaching out to newer markets. Sika Group Threats Compliance with REACH In June 2007, the European Union bought a new regulation named REACH (Registration, Evaluation, Authorisation and Restriction of Chemicals) into force. REACH is a regulation on chemicals and their safe use. The aim of REACH is to improve the protection of human health and the environment through identification of the intrinsic properties of chemical substances. This law applies to chemicals manufactured or marketed in Europe, and its regulations affect companies exporting chemicals to Europe as well as those located there. Compliance with REACH requires performing cost-benefit analyses of chemicals, understanding the supply chain, gathering information for the CSR, arranging for studies on exposures to and hazards of chemicals, and gathering information from existing studies on exposure and hazard. All the above mentioned activates require the expertise of skilled professionals which may lack in small and mid size companies. Moreover compliance with REACH requires registration which is quite expensive. Companies like Sika are most likely to suffer as compliance with REACH is a tedious and expensive process. If the company fails to comply with this regulation, then its exports to Europe would be dampened and this would adversely affects the turnover of the company. Decreasing demand for Automotives The global economic crisis has had an adverse affect on the automotive industry worldwide. The automotive industry is facing a major downturn, with the demand for automobiles and related services falling rapidly. U. S automotive sales fell 13. 2 million in 2008, down 18% from 16. 1 million in 2007, because of the financial crisis and credit crunch. It has been predicted that the U. S. uto sales would fall about 13% to 11. 5 million units in 2009, due to high unemployment, low consumer confidence and mounting consumer debt. The automotive sector is one of the major sectors serves by the company. A sharp fall in the Automotive market will adversely affect the sales and thereby the revenues of the company. Intense Competition Sika is facing intense competition from a number of players both region al and international across the world. It faces competition in the areas of price, product, customer service and quality. Its major competitors are BASF SE, CRH Plc. , W. R. Grace Co. , Lafarge S. A. , Propex Inc. , and Evonik Degussa Corporation. Some of its competitors are big players having larger resources and wider geographical presence than the company. These competitors are in a better position to Sika Group Sika Group- Financial and Strategic Analysis Review Reference Code: GMDCH25387FSAS handle the global meltdown and falling demand and remain competitive. Firece competition may pose a threat to the very existence of the company. Key Competitors The following companies are the major competitors of Sika Group: BASF SE CRH plc Evonik Degussa GmbH H. B. Fuller Company Okong Corporation Soken Chemical Engineering Co. , Ltd. Key Employees Sika Group, Key Employees Name Job Title Board Level Since Age Iven Chadwick Director Non Executive Board 2009 Dr Walter Gruebler Chairman Executive Board 2004 67 Dr Thomas Bechtler Vice Chairman Executive Board 1989 60 Urs F. Burkard Director Non Executive Board 1990 52 Urs B. Rinderknecht Director Non Executive Board 1998 63 Dr Toni Rusch Director Non Executive Board 2000 65 Daniel J. Sauter Director Non Executive Board 2000 52 Fritz Studer Director Non Executive Board 2006 66 Dr. Ulrich W. Suter Director Non Executive Board 2003 65 Christoph Tobler Director Non Executive Board 2005 52 Ernst Bartschi Chief Executive Officer Senior Management 2005 57 Silvio Ponti Deputy Chief Executive Officer, Europe North Senior Management 2002 56 Ronald Trachsel Chief Financial Officer Senior Management 2008 50 Urs Mader Officer, Research and Development Senior Management 2005 54 Peter Krebser Head, Operations Senior Management 2004 59 Jan Jenisch Regional Manager Asia Pacific Senior Management 2007 43 Paul Schuler Regional Manager North America Senior Management 2007 54 Jose Luis Vazquez Regional Manager Europe South Senior Management 2002 62 Alexander Bleibler Head, Corporate Business Unit Contractors Senior Management 2007 56 Bruno Fritsche Head, Corporate Business Unit Industry Senior Management 2007 57 Christoph Ganz Head, Corporate Business Unit Distribution Senior Management 2007 40 Ernesto Schumperli Head, Corporate Business Unit Concrete Senior Management 2007 54 Source: Annual Report, Company Website, Primary and Secondary Research Global Markets Direct Sika Group Sika Group- Financial and Strategic Analysis Review Reference Code: GMDCH25387FSAS Key Employee Biographies Sika Group, Key Employee Biographies Dr Walter Gruebler Job Title:Chairman Board Level:Executive Board Since:2004 Age:67 Mr. Gruebler is the Chairman of the company since 2004. Previously, he served as the Chief Executive Officer for Sika AG between 2000 and 2004. During 1990 and 1999, he hold the position as Member of Group Management, alusuisse, Zurich. From 1974 to 1990, Gruebler also worked as the Chief Executive Officer and Vice Chairman, Airex AG. During 1968 and 1974, he served as Project Leader and Member of Executive Board, Hayek Engineering AG, Zurich. In addition, Gruebler is also the Chairman, Board of Director of Adval Tech AG, Niederwangen. He is also Member, Board of Director of Nationale Suisse, Basel; Quadrant AG, Lenzburg; Petroplus Holdings AG, Zug and a Member of Board Swiss Society of Chemical Industries, Zurich. Ernst Bartschi Job Title:Chief Executive Officer Board Level:Senior Management Since:2005 Age:57 Mr. Bartschi is the Chief Executive Officer of the company since 2005. Earlier, he served as the Chief Financial Officer and Member of the Group Management during 2002 and 2004. Before that, Bartschi was the Chief Financial Officer and Member of Corp. Management Team of Schindler Management AG between 1997 and 2001. During 1993and 1997, he also served as the Managing Director and Financial Manager of Schindler Aufzuge AG, Switzerland. In between 1980 and 1993, he also hold several positions such as Area Controller, Head of Group Area Controlling and the Chief Financial Officer, Elevator and Escalator Division in Schindler Management AG. Ronald Trachsel Job Title:Chief Financial Officer Board Level:Senior Management Since:2008 Age:50 Mr. Trachsel joined as the Chief Financial Officer of the company in 2008. Previously, he served various positions in Vitra Group including the Chief Financial Officer, the Chief Executive Officer, Head of Group Management as well as Executive Director, Ormand AG during 1999 and 2007. During 1992-99, he worked as Head Internal Audit and the Chief Financial Officer, Ringier Europe for Ringier Group. Between 1987 and 1992, Trachsel served in Ciba-Geigy Group for Internal Audit. Earlier, he started his career with Visura Treuhandgesellschaft, where he is responsible for accounting and tax counseling for small and medium-sized enterprises. Source: Annual Report, Company Website, Primary and Secondary Research Global Markets Direct Sika Group Sika Group- Financial and Strategic Analysis Review Reference Code: GMDCH25387FSAS Company Statement A joint statement by Mr. Walter Gruebler, the Chairman of Sika Group and Mr. Ernst Bartschi, the Chief Executive Officer of Sika Group is given below. The statement has been taken from the company’s 2008 Annual Report. MARKET ENVIRONMENT AS CHALLENGE The year 2008 will go down in history as the year in which global market conditions changed more quickly than ever before in the history of economics. What began as a financial crisis in real estate in the USA broadened during the course of the year under review to a comprehensive crisis of the real economy, and in the third and above all fourth quarter led to negative developments in most Sika markets. The massive, short-term increases in raw material prices during the course of the second half of the year could either not be passed on to customers, or only in part. In addition, in a number of markets local currencies suffered substantial losses in value, for example in Great Britain, Australia and Korea, which eroded corresponding margins within a very short time. PREPARED FOR THE FUTURE The automotive industry incurred an especially harsh deterioration of conditions. In the first half of the year automotive manufacturers – except in the USA – were still able to raise the number of automobiles sold in comparison with the corresponding period of the previous year. In the third and foremost in the fourth quarter worldwide turnover plummeted. The sales of manufacturers of trucks, busses and yachts developed similarly with greater accentuation. In the construction industry the picture did not become gloomy so rapidly. At first the slump was limited to the USA; in the third quarter Great Britain, Ireland, Spain and New Zealand followed, and in the course of the fourth quarter the recession gripped nearly all countries. So for example in Russia towards the end of the reporting period, various major construction projects were stopped, and the kickoff of planned construction projects was temporally postponed, possibly to be given up completely. Many countries, however, have announced economic stimulus programs, which across the board include extensive investments in nfrastructure. Here Sika is well positioned to profit from such programs, above all in the refurbishment sector. From experience nevertheless, some time elapses between the approval and realization of such projects. In response to the negative developments of the past months, we have reacted in accordance with the respective situation of individual factories and regional companies. So for example in Spain, where building and construction a ctivity demonstrated clear weaknesses very early, we reduced costs and adapted ourselves to the new conditions. In the current business year we will proceed with this situation-appropriate reaction to country-specific changes. Included here among other things are the review of all planned investments and new hires. FURTHER GROWTH Overall Sika achieved growth of 7. 3% in local currencies in the year under review, resulting from organic growth of 5. 9% and growth through acquisitions of 1. 4%. Most currencies lost considerable value opposite the Swiss franc during the course of the year; this had a negative effect of -6. 2% on sales. Growth in Swiss francs thereby amounted to 1. %. Sika lost in 2008 the enormous growth dynamic of recent years. We are gaining additional customers and increasing our customer penetration; nevertheless the overall business of most customers has fallen back considerably. Earnings could not reach the record result of the previous year. Not only the lost growth dynamism, but above all the high exchange rate of the Swiss franc and the enormous, short-term price increase s for raw materials, which could only be passed on to the market in small part, had a strong effect on the result. .u47cb5e0d3ed51e1a90fb6212fbd099df , .u47cb5e0d3ed51e1a90fb6212fbd099df .postImageUrl , .u47cb5e0d3ed51e1a90fb6212fbd099df .centered-text-area { min-height: 80px; position: relative; } .u47cb5e0d3ed51e1a90fb6212fbd099df , .u47cb5e0d3ed51e1a90fb6212fbd099df:hover , .u47cb5e0d3ed51e1a90fb6212fbd099df:visited , .u47cb5e0d3ed51e1a90fb6212fbd099df:active { border:0!important; } .u47cb5e0d3ed51e1a90fb6212fbd099df .clearfix:after { content: ""; display: table; clear: both; } .u47cb5e0d3ed51e1a90fb6212fbd099df { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u47cb5e0d3ed51e1a90fb6212fbd099df:active , .u47cb5e0d3ed51e1a90fb6212fbd099df:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u47cb5e0d3ed51e1a90fb6212fbd099df .centered-text-area { width: 100%; position: relative ; } .u47cb5e0d3ed51e1a90fb6212fbd099df .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u47cb5e0d3ed51e1a90fb6212fbd099df .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u47cb5e0d3ed51e1a90fb6212fbd099df .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u47cb5e0d3ed51e1a90fb6212fbd099df:hover .ctaButton { background-color: #34495E!important; } .u47cb5e0d3ed51e1a90fb6212fbd099df .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u47cb5e0d3ed51e1a90fb6212fbd099df .u47cb5e0d3ed51e1a90fb6212fbd099df-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u47cb5e0d3ed51e1a90fb6212fbd099df:after { content: ""; display: block; clear: both; } READ: alexander the great EssayEBITDA dropped 12. 8% to CHF 556. 1 million, and net profit after taxes fell by 21. 8% to CHF 267. 4 million. This is nonetheless the second-best result in Sika’s history. A SOLID FINANCIAL POSITION The balance sheet and the financing of our enterprise are solid. The net working capital in proportion to net sales could be reduced from 20. 2% to 19. 3% as a result of improved management of receivables and due to currency-related shifts in mix. New structures and processes along the supply chain led in contrast to a temporary increase in inventories. With a syndicated line of credit of CHF 450 million that is presently not being drawn on, together with own cash and cash equivalents, liquidity is on a sound level. SUSTAINABLE DEVELOPMENT Sika Group Sika Group- Financial and Strategic Analysis Review Reference Code: GMDCH25387FSAS In the year under review Sika identified various demands that the principle of sustainable development makes on our company. So for example the sustainable handling of water is a duty that Sika accepts to preserve this valuable resource also for future generations. Our concrete admixtures are making a contribution already today by substantially reducing water consumption in the manufacture of concrete (see page 42). Another example are grinding aids, with which cement producers are able to significantly lower energy consumption in their manufacturing process. For 2010 Sika is planning a detailed report of its achievements regarding sustainable development. OUTLOOK Due to the spreading economic crisis we reckon with losses in many of the markets that are relevant for us. The Construction Division feels the cooling demand with some delay, and on the other hand will also profit later from an economic recovery. Economic stimulus packages in infrastructure building and construction will help in part to compensate growth slumps in private sector construction. Sika will continue to exploit all available growth possibilities, and thereby make use of the greater readiness of customers to apply higher-value technologies that based on experience emerges above all in crisis situations, taking this opportunity to introduce new products and solutions to market. Further development of markets, raw material prices and exchange rates remain highly uncertain, so that presently no exact forecast of sales and profit are possible. We proceed from a persistent recession scenario, which allows anticipation of clear growth signals at the earliest in 2010. We will employ the current business year to increase the efficiency of our production facilities and our global supply chain still further. In addition, with regard to the manufacturing of our products we will review and optimize the allocation of individual facilities and factories. We remain furthermore convinced that on mid-term annual average we can achieve organic growth between eight and ten percent. We have developed this potential systematically during the last few years. Thus foremost in building and construction, the markets for nearly all the technologies that we offer are still largely fragmented, and the consolidation process that we can accompany as a globally established company has only just begun. Our keys to success continue to be innovation, progression of market penetration and convincing solutions adapted to customer needs. Above all comprehensive, total solutions for key customers who are active worldwide, and for major key projects will thereby become ever more critical. We will continue to pursue our acquisition strategy of securing new technologies that reinforce or complement core business, and the acquisition of market share in North America, India, the Middle East and East Asia. The present economic situation has significantly improved the changes for successful acquisitions that represent value for money. PROPOSALS OF THE BOARD OF DIRECTORS The Board of Directors proposes to the Annual General Meeting the payment of a gross dividend of CHF 45. 0 (previous year: CHF 45. 00) per bearer share, and respectively of CHF 7. 50 (CHF 7. 50) per registered share. The payout sum thereby amounts to CHF 111. 5 million, representing roughly 42% (33%) of consolidated net profit. Sika thus continues its long-time dividend policy. The Annual General Meeting is requested to elect Dr. Paul Halg, President of Group Management, Datwyler AG, to the Board of Directors. Dr. Toni Rusch, who has declined reelection, receives our thanks for his commitment in particular as Chairman of the Audit Committee. Board Members Daniel Sauter, Prof. Dr. Ulrich Suter and Fritz Studer stand for reelection. We once again extend our thanks to our customers, suppliers, shareholders and our employees, who have also all demonstrated as times become more difficult what partnership is worth and what committed dedication can accomplish. Sika Group Sika Group- Financial and Strategic Analysis Review Reference Code: GMDCH25387FSAS Locations And Subsidiaries Head Office Sika Group Zugerstrasse 50 Baar ZIP: CH-6341 Switzerland Tel: 41 58 436 68 00 Fax: 41 58 436 68 50 Other Locations Subsidiaries Sika Group, Subsidiaries Sika Services AG Tuffenwies 16 Zurich Zip: CH 8048 Switzerland Tel: 41 0 58 436 45 67 Fax: 41 0 58 436 55 30 Sika Engineering Silicones Srl Via L. Einaudi, 6 Peschiera Borromeo MI Italy Tel: 39 02 516 591 206 Fax: 39 02 516 591 298 Source: Annual Report, Company Website, Primary and Secondary Research Global Markets Direct Sika Group Sika Group- Financial and Strategic Analysis Review Reference Code: GMDCH25387FSAS Financial Ratios Capital Market Ratios Sika Group, Ratios based on current share price Key Ratios 06-Mar-2009 P/E (Price/Earnings) Ratio 6. 4 Enterprise Value/Earnings Before Interest, Taxes, Depreciation and Amortization 4. Enterprise Value/Sales 0. 5 Enterprise Value/Operating Profit 5. 1 Enterprise Value/Total Assets 0. 7 Dividend Yield 0. 1 Note: Above ratios are based on share price as of 06-Mar-2009, the above ratios are absolute numbers Source: Annual Report, Company Website, Primary and Secondary Research. Global Markets Direct Annual Ratios Sika Group, Annual Ratios Key Ratios Unit/Currency 2004 2005 2006 2007 2008 Equity Ratios EPS (Earnings per Share) 47. 8 60. 1 91. 4 135. 5 107. 0 Dividend per Share 31. 2 45. 0 45. 0 Dividend Cover Absolute 2. 9 3. 0 2. 4 Book Value per Share 368. 5 428. 0 97. 8 587. 5 589. 9 Cash Value per Share 37. 7 61. 0 168. 5 174. 8 128. 4 Profitability Ratios Gross Margin % 58. 3 55. 7 53. 6 53. 1 51. 4 Operating Margin % 8. 2 8. 4 9. 5 11. 2 9. 1 Net Profit Margin % 4. 7 5. 2 5. 9 7. 5 5. 8 Profit Mark up % 140. 0 125. 8 116. 1 113. 3 106. 3 PBIT Margin (Profit Before Interest Tax) % 7. 5 8. 0 8. 5 10. 5 8. 1 PBT Margin (Profit Before Tax) % 7. 5 8. 0 8. 5 10. 5 8. 1 Return on Equity % 12. 9 14. 1 18. 4 23. 2 18. 2 Return on Capital Employed % 18. 7 17. 4 15. 8 19. 8 16. 7 Return on Assets % 7. 1 5. 9 7. 6 10. 3 8. 3 Return on Fixed Assets % 28. 18. 6 28. 1 36. 4 28. 8 Return on Working Capital % 55. 6 264. 0 36. 1 43. 5 39. 9 Cost Ratios Operating Costs (% of Sales) % 91. 8 91. 6 90. 5 88. 9 90. 9 Administration Costs (% of Sales) % 24. 6 23. 5 21. 7 20. 2 20. 7 Liquidity Ratios Current Ratio Absolute 1. 7 1. 1 2. 4 2. 6 2. 6 Quick Ratio Absolute 1. 2 0. 8 1. 9 1. 9 1. 8 Cash Ratio Absolute 0. 2 0. 1 0. 6 0. 6 0. 5 Leverage Ratios Debt to Equity Ratio Absolute 0. 2 0. 6 0. 6 0. 5 0. 5 Debt to Capital Ratio Absolute 0. 2 0. 5 0. 3 0. 3 0. 3 Efficiency Ratios Asset Turnover Absolute 1. 5 1. 1 1. 3 1. 4 1. 4 Inventory Turnover Absolute 3. 9 3. 5 4. 4 4. 3 4. 4 Current Asset Turnover Absolute 2. 7 2. 3 2. 2 2. 4 2. 7 Capital Employed Turnover Absolute 2. 7 2. 7 3. 1 3. 1 3. 2 Working Capital Turnover Absolute 6. 8 31. 5 3. 8 3. 9 4. 4 Revenue per Employee 358,488 Sika Group Sika Group- Financial and Strategic Analysis Review Reference Code: GMDCH25387FSAS Net Income per Employee 20,674 Capex to Sales % 4. 2 3. 9 3. 6 4. 1 5. 0 Source: Annual Report, Company Website, Primary and Secondary Research Global Markets Direct Interim Ratios Sika Group, Interim Ratios Key Ratios Unit/Currency Dec-2007 Jun-2008 Sep-2008 Dec-2008 Interim EPS (Earnings per Share) 28. 4 75. 4 44. 4 3. 7 Book Value per Share 587. 5 559. 1 589. 9 Current Ratio Absolute 2. 6 2. 3 2. 6 Asset Turnover Absolute 0. 4 0. 7 0. 3 Current Asset Turnover Absolute 0. 6 1. 2 0. 6 Working Capital Turnover Absolute 1. 0 2. 1 1. 0 Source: Annual Report, Company Website, Primary and Secondary Research Global Markets Direct Sika Group Sika Group- Financial and Strategic Analysis Review Reference Code: GMDCH25387FSAS Ratio Charts Sika Group, Ratio Charts EPS Operating Margin Return on Equity Return on Assets Debt to Equity Ratio Source: Annual Report, Company Website, Primary and Secondary Research Global Markets Direct Appendix Sika Group- Financial and Strategic Analysis Review Reference Code: GMDCH25387FSAS Appendix M ethodology G lobal Markets Direct company reports are based on a core set of research techniques which ensure the best possible level of quality and accuracy of data. The key sources used include: †¢ Company Websites †¢ Company Annual Reports †¢ SEC Filings †¢ Press Releases †¢ Proprietary Databases Currency Codes Currency Code Currency CHF Swiss Francs Global Markets Direct Ratio Definitions Capital Market Ratios Capital Market Ratios measure investor response to owning a companys stock and also the cost of issuing stock. Price/Earnings Ratio (P/E) Price/Earnings (P/E) ratio is a measure of the price paid for a share relative to the annual income earned per share. It is a financial ratio used for valuation: a higher P/E ratio means that investors are paying more for each unit of income, so the stock is more expensive compared to one with lower P/E ratio. Also, a high P/E suggests that investors are expecting higher earnings growth in the future compared to companies with a lower P/E. Price per share is as of previous business close, and EPS is from latest annual report. Calculation: Price per Share / Earnings per Share Enterprise Value/Earnings before Interest, Tax, Depreciation Amortization (EV/EBITDA) Enterprise Value/EBITDA (EV/EBITDA) is a valuation multiple that is often used in parallel with, or as an alternative to, the P/E ratio. The main advantage of EV/EBITDA over the PE ratio is that it is unaffected by a companys capital structure. It compares the value of a business, free of debt, to earnings before interest. Price per share is as of previous business close, and shares outstanding last reported. Other items are from latest annual report. Calculation: (Market Cap + Debt + Preferred Stock Cash Cash Equivalents) / (Net Income + Interest + Tax + Depreciation + Amortization) Enterprise Value/Sales Enterprise Value/Sales (EV/Sales) is a ratio that provides an idea of how much it costs to buy the companys sales. EV/Sales is seen as more accurate than Price/Sales because market capitalization does not take into account the amount of debt a company has, which needs to be paid back at some point. Price per share is as of previous business close, and shares outstanding last reported. Other items are from latest annual report. Calculation: (Market Cap + Debt + Preferred Stock Cash Cash Equivalents) / Sales Enterprise Value/Operating Profit Enterprise Value/Operating Profit measures the companys enterprise value to the operating profit. Price per share is as of previous business close, and shares outstanding last reported. Other items are from latest annual report. Calculation: (Market Cap + Debt + Preferred Stock Cash Cash Equivalents) / Operating Income Enterprise Value/Total Assets Enterprise Value/Total Assets measures the companys enterprise value to the total assets. Price per share is as of previous business close, and shares outstanding last reported. Other items are from latest annual report. Calculation: (Market Cap + Debt + Preferred Stock Cash Cash Equivalents) / Total Assets Dividend Yield Dividend Yield shows how much a company pays out in dividends each year relative to its share price. In the absence of any capital gains, the dividend yield is the return on investment for a stock. Calculation: Annual Dividend per Share / Price per Share Global Markets Direct Equity Ratios These ratios are based on per share value. Earnings per Share (EPS) Earnings per share (EPS) is the portion of a companys profit allocated to each outstanding share of common stock. EPS serves as an indicator of a companys profitability. Calculation: Net Income / Weighted Average Shares Dividend per Share Dividend is the distribution of a portion of a companys earnings, decided by the board of directors, to a class of its shareholders. Dividend Cover Dividend cover is the ratio of companys earnings (net income) over the dividend paid to shareholders. Calculation: Earnings per share / Dividend per share Book Value per Share Book Value per Share measure used by owners of common shares in a firm to determine the level of safety associated with each individual share after all debts are paid accordingly. Appendix Sika Group- Financial and Strategic Analysis Review Reference Code: GMDCH25387FSAS Calculation: (Shareholders Equity Preferred Equity) / Outstanding Shares Cash Value per Share Cash Value per Share is a measure of a companys cash (cash equivalents on the balance sheet) that is determined by dividing cash equivalents by the total shares outstanding. Calculation: Cash equivalents / Outstanding Shares Global Markets Direct Profitability Ratios Profitability Ratios are used to assess a companys ability to generate earnings, based on revenues generated or resources used. For most of these ratios, having a higher value relative to a competitors ratio or the same ratio from a previous period is indicative that the company is doing well. Gross Margin Gross margin is the amount of contribution to the business enterprise, after paying for direct-fixed and direct-variable unit costs. The values displayed are of FY 2007. Calculation: {(Revenue-Cost of revenue) / Revenue}*100

Fightclub essays

Fightclub essays On the Dark Side: Fight Club Fight Club (David Fincher, 1999) the director, Fincher, presents the elements that are essential in a Neo-Noir film. The most obvious of the characteristics is the dark overtone of the film. Fight Club is mostly set in night or in shadows as are most noir films. The other obvious characteristic of Neo-Noir is the voice over narration. Voice over narration is when a voice off screen is doing a narration of what is happening on screen. This narration is provided by the protagonist of Fight Club, Jack. Edward Norton plays the ambivalent protagonist, who only refers to himself as Jack. An ambivalent protagonist, usually the main character, is someone the audience likes, but who possesses character flaws. This brings us to the use of doubles and splits in noir and neo-noir films. Jack (Edward Norton) unknowingly develops an alter ego by the name of Tyler Durden (Brad Pitt). However, this turns out to be only one of Jacks flaws as Fight Clubs ambivalent protago nist. For every protagonist in Neo-Noir films there is a femme fatale, which is the leading lady who eventually leads the protagonist to his doom. Jacks femme fatale is Marla Singer (Helena Bonham-Carter). These are the characteristics of Neo-Noir expressed in Fight Club; shadows or dark lighting, voice over narration, the ambivalent protagonist, double and split imagery, and the femme fatale, while implementing an underlying theme of crime and violence. Fight Club is also almost completely a flashback up until the very last scene. Although not a typical noir film, Fight Club does fit in best under the genre of neo-noir due to these stylistic elements. One of the main reasons that Fight Club could be considered neo-noir is because of the dark lighting and the use of shadow...

Aesops Fable of the Crow and the Pitcher

Aesops Fable of the Crow and the Pitcher One of Aesops most popular animal stories is this one, of a thirsty and ingenious crow. The text of the fable, from George Fyler Townsend, whose translation of Aesops Fables has been the standard in English since the 19th Century, is this: A Crow perishing with thirst saw a pitcher, and hoping to find water, flew to it with delight. When he reached it, he discovered to his grief that it contained so little water that he could not possibly get at it. He tried everything he could think of to reach the water, but all his efforts were in vain. At last he collected as many stones as he could carry and dropped them one by one with his beak into the pitcher, until he brought the water within his reach and thus saved his life. Necessity is the mother of invention. History of the Fable Aesop, if he existed, was a slave in the seventh century Greece. According to Aristotle, he was born in Thrace. His fable of the Crow and the Pitcher was well known in Greece and in Rome, where mosaics have been found illustrating the crafty crow and the stoic pitcher. The fable was the subject of a poem by Bianor, an ancient Greek poet from Bithynia, who lived under the emperors Augustus and Tiberius in the First Century A.D. Avianus mentions the story 400 years later, and it continues to be cited throughout the Middle Ages. Interpretations of the Fable The morals of Aesops fables have always been appended by translators. Townsend, above, interprets the story of the Crow and the Pitcher to mean that dire circumstance gives rise to innovation. Others have seen in the story the virtue of persistence: The crow must drop many rocks into the pitcher before he can drink. Avianus took the fable as an advertisement for the suave sciences rather than force, writing: This fable shows us that thoughtfulness is superior to brute strength. The Crow and the Pitcher and Science Again and again, historians have noted with wonder that such an ancient tale- already hundreds of years old in Roman times- should document actual crow behavior. Pliny the Elder, in his Natural History (77 A.D.) mentions a crow accomplishing the same feat as the one in Aesops story. Experiments with rooks (fellow corvids) in 2009 showed that the birds, presented with the same dilemma as the crow in the fable, made use of the same solution. These findings established that tool use in birds was more common than had been supposed, also that the birds would have had to understand the nature of solids and liquids, and further, that some objects (stones, for example) sink while others float. More Aesops Fables: The Ant and the DoveThe Bee and JupiterThe Cat and VenusThe Fox and the MonkeyThe Lion and the Mouse

Business Marketing Essay Example | Topics and Well Written Essays - 1000 words - 1

Business Marketing - Essay Example The web sites chosen are the online book stores of firstandecond.com, amazon.com, barnesandnoble.com, and oxfordbookstore.com. These web sites have been chosen as to provide a wider perspective of online stores, since it incorporates the pioneer and the leader of online book stores amazon.com, a large publishing house in Barnes and Noble, a medium online retailer in Oxford Books, and a small book reseller in firstandsecond.com. The diversification of product range in the website of Amazon.com is wide, so that the website no longer resembles an online book seller, but an online store that caters to books, entertainment products and a range of other products. In a similar manner there is product diversification with Barnes and Noble into entertainment products. On the other hand there is no product diversification with Oxford Books and firstandsecond.com. Due to the product diversification in with Amazon.com and Barnes and Noble, there is more clustering in the main page of the website, and so the design of the website Oxford Books or firstansdsecond.com for product display is more suitable for the web site to be developed. In both these sites the central section of the first page carries product promotion message and below that are clear images of the products on offer, with a peel in facility for more details on the products, which includes the price. This enables a customer to get more information on the range of products available before exercising a buy option. On the left are options that enable a customer to gain more insight into the company, its history and policies and the like. On the right side of the first page are promotion information like promotional offers on products, new arrivals and specific topics on which books are available. In all these web sites the option for multiple purchases exists and so there is a shopping cart to which the products chosen can be added and the list of

Norman Finkelsteins The Holocaust Industry Term Paper

Norman Finkelsteins The Holocaust Industry - Term Paper Example In 2000,Norman Finkelstein published his book The Holocaust Industry.He claims,on his webpage,that its publication â€Å"marked the beginning of the end† of his academic career. The outrage it evoked from what he calls â€Å"the Jewish-Holocaust-Israel establishment† resulted in losing his assistant professorship at Hunter College in New York City Since then, however, some of the allegations he makes in his book have turned out to be accurate, and events have occurred that have provided justification in some of the assertions he made in The Holocaust Industry, in spite of significant personal and professional loss. In The Holocaust Industry, Finkelstein, whose parents were both Holocaust survivors and inmates of concentration camps during World War II, argues that the American Jewish establishment exploits the memory of the Holocaust for financial and political gain, and to further the interests of Israel. Finklestein believes that this â€Å"Holocaust industry† has corrupted authentic memories and interpretations of the Holocaust, and has established Jewish culture as victimized. The book has been a bestseller in every part of the world except for the United States. Finkelstein believes that the American Jewish mainstream panned it, most powerfully through The New York Times, which he sees as a promotional vehicle of the powerful Jewish elite in America. To be fair to Finkelstein’s critics, though, it does seem that he had adopted the same victim mentality as those he criticizes. Historian Omer Bartov (n.p.) of Brown University accuses Finkelstein of this very thing, in his review in The New York Times Book Review, a review that Finkelstein blamed for poor sales of the book in the U.S.: I find so striking about The Holocaust Industry is that it is almost an exact copy of the arguments it seeks to expose. It is filled with precisely the kind of shrill hyperbole that Finkelstein rightly deplores in much of the current media hype over the Holocaust; it is brimming with the same indifference to historical facts, inner contradictions, strident politics and dubious contextualizations; and it oozes with the same smug sense of moral and intellectual superiority. One of the biggest criticisms of The Holocaust Industry is that it provides Holocaust deniers and anti-Semites with fodder to continue their conspiracy theories. This does not mean, however, that Finkelstein’s theories should be discounted. He has proven to be correct in his description in chapter three of the book (â€Å"The Double Shakedown†) regarding the blatant corruption of many of the lawyers and politicians involved in forcing Swiss banks to pay reparations to the Jewish survivors of the Holocaust. Most of the billions of dollars the banks agreed to pay had not even been seen by individuals yet, but rather to Jewish organizations, memorials, Holocaust education projects, and to aid with Jewish emigration from Eastern Europe (Ross n.p.). H olocaust historian Raul Hilberg has agreed with Finkelstein about the Jewish reparations, as well as his claims about forced Jewish labor, which Finkelstein insists is exaggerated to gain more sympathy for Jews and for Israel, stating that they are â€Å"conservative† and â€Å"moderate† (Finkelstein n.p.). Finkelstein believes that there are those in the American Jewish mainstream that have used the Holocaust to benefit themselves financially and politically, and to garner unshakable support for the state of Israel. He states: Indeed, the Holocaust has proven to be an indispensable ideological weapon. Through its deployment, one of the world’s most formidable military powers, with a horrendous human rights record, has cast itself as a ‘victim state,’ and the most successful ethnic group in the United States has likewise acquired victim status. Considerable dividends accrue from this specious victimhood—in particular, immunity to criticism, h owever justified (3). Finkelstein

Four Truths and a Lie Essay Example for Free

Four Truths and a Lie Essay Introduction†¦ Have you ever said a truth? Well, you say truth 99.8% of your conversation each day! You are most likely to said a truth by playing – truth, dare, double-dare, kiss, love game. On the other hand, have you ever lied? Obliviously, I think everyone have lied at least once in their life because they have to do it to helps themselves. Me, Kaitlyn Phan has 1 sister and 1 brother named Lana and Joe, and I live my mum and siblings here. I have 4 good friends named: Michelle Tsang, Chriselle Lee, Lindy Sohn and Melody Lim! I live in Singapore one of the busiest and crowed country (well, place) in the world. I have lived so many countries since my dad is†¦ Busy man! Such as Melbourne, Vietnam, Philippines and†¦ Singapore. I find moving school several times hard, because not everyone is friendly, there is always drama queen, wannabes, and more and more annoying stuff. So, let’s start the game of Three Truths and 1 lie†¦ Chapter 1 Begin the game! â€Å"Have you ever heard of Boy Bands?† Lindy asked me one morning, exclaiming. I knew she knew it, because it was on this month’s issue of Pretty Girl’s magazine. â€Å"Obliviously! You think I’m dumb?† I joked. â€Å"Hey!† Mish (Michelle) jumped into our conversation. Mish loves to talk and fashion†¦ She is also sporty. â€Å"We were just talking about Boy Bands†¦Ã¢â‚¬  I rolled my eyes quickly, so I don’t look crazy. â€Å"Like, what?† â€Å"Don’t know.† Ding-Dong! The bell rang as usual (what else?) Luckily this year we are in same class, and there were HUGE chance that we won’t be together because there are 11 classes this year. Lot’s of people thinks, my school is interesting because we start and 7:25 and end at 1:30 (only for Monday to Wednesday. Thursday to Friday is 7:20 to 1:30.) Younger kids like my sister who is in Grade 1 starts school on noon to 6:50, and mum finds it a little inconvenient. â€Å"Have you ever played four truths and 1 lie?† Chriselle, a lover of tech stuff and games asked in an exciting tone. â€Å"Well, we’ve played Truths or Dare?† â€Å"Yeah!† â€Å"Is it like I Never game?† Melody questioned. â€Å"Well, here it goes.† Mish began. â€Å"One person lists three facts about themselves, except one of the facts is a lie. Be sure to be random about the order of your facts. Also try to recite the facts in the same voice, so you dont give away the lie. Examples:†¨ #1 I love chocolate cake so much. #2 My brother goes to university in USA with his cousins. #3 Two summers ago my family took our vacation to China. The other people have to guess which one is a lie. Everyone will know how everyone else has voted. †¨The person sets the record straight by saying the lie e.g. #2 was a lie. They may also explain the circumstances for the other two facts. Everyone else may talk about how they were fooled or figured out which was the lie.† â€Å"Why don’t we just get started?† Chriselle and I chorused. We all clapped our hands and got out of the school building to the playground.

Participative Management Essays -- essays research papers fc

Participative management is a new approach in the work force today. Job enrichment, quality circles, and self-managing work teams are just some of the approaches. Companies share a common goal of increasing employee involvement. They want to raise the quality, performance, and productivity of their workers.   Ã‚  Ã‚  Ã‚  Ã‚  The questions that follow will be answered in this paper. What is participative management? What are the advantages of participative management? How does it raise quality, productivity, and performance? How can it be successfully started, implemented, and sustained? What are the results of experiments done in the work force? Participative management is a process by which a company attempts to increase the potential of its employees by involving them in decisions affecting their work lives. A distinguishing characteristic of the process is that its goals are not simply acquired, they focus on the improvement of productivity and efficiency, but they are also fulfilling and self-enhancing in themselves. The key goals of employee involvement programs is to enhance the quality of the employees’ working life, management must be responsive to the requests of the employees. The best way to ascertain those requests is to ask employees.   Ã‚  Ã‚  Ã‚  Ã‚  If workers can be motivated and given the opportunity to participate in the search for improved methods of job performance, and if this motivation and participation can be maintained over time, job performance should improve. Productivity is higher in companies with an organized program of worker participation. Employee participation can and does raise productivity. The most appropriate form will vary from company to company but participation works only when both parties want it to work. The solution to America’s pathetic productivity growth isn’t necessarily more capital spending (Lewis & Renn, 1992). People tend to accomplish what they decide they want to accomplish. Ideas, changes, suggestions and recommendations that are generated by the people who implement them stand a much greater chance of being successfully implemented. In theory, people who have a hand in making a decision are better motivated to execute it. Participation can improve the quality of decision making. Participative management appears to offer tremendous advantages... ...rcles, gainsharing, and self-managing teams because they are trying to change the entire organization, not just a few plants or a few practices (Lawler, 1986). The work place of the future will require greater emphasis on such key human resource factors as participative management, training programs, and teamwork. Employee involvement and participative initiatives are likely to expand considerably over the next several years in United States businesses. If they are to remain competitive in the marketplace and survive with the intense overseas challenges awaiting them, worker involvement and these initiatives must be present. Bibliography Lawler III, E. (1986). High-Involvement Management. San Francisco: Jossey-Bass Inc., Publishers. Lewis, J. & Renn, L. (1992). How To Start A Participative Management Program: Ten Easy Steps. Interlochen: Lewis & Renn Associates, Inc. Schuller, T. (1985). Democracy at Work. Oxford: Oxford University Press. Sirianni, C. (1987). Worker Participation and the Politics of Reform. Philadelphia: Temple University Press. Warner, M. (1984). Organizations and Experiments: Designing New Ways of Managing Work. New York: John Wiley & Sons.

Animal Farm: Comparison of the Animal Characters with Their Human Counterparts

Animal Farm: Comparison of Animal Characters with Human characters Animal Farm by George Orwell is a political story concerning the concept of Leninist Marxism, written from an animal’s perspective. It is a story of dreams; dreams of freedom and equality that are dashed into pieces by greed and avarice for power and comfort. Basically, Orwell has incorporated his own political views in this book regarding Marxism and simultaneously he has spotlighted the major flaws in Marxist philosophy which he illustrates throughout the story. I first want to emphasize that the events in Animal Farm are comparable to the Russian Revolution of 1917. The book illustrates the ideals of the revolution and how the masses were maltreated by corrupt leaders and the false promises of a Utopian socialistic society. This goal of equality was what the animals sought, and despite their sacrifices and hard work, their leaders betrayed them. Animal Farm is essentially a harsh criticism of totalitarianism. Orwell is portraying the noble goals of Marxism which were corrupted by a dictator’s avarice for power. As he notes in his study, â€Å"The book is not only a parody of Stalin’s Russia but also intends to show that Russia was not a true democratic Socialist country. †(1) Despite the apparent criticism, Orwell shares the viewpoints of Marxism as far as worldwide revolution was concerned. However, in the book, a utopian future seemed highly unlikely from the start. The idea of Animalism was a theory created by Old Major in his dream. Old Major was a highly respected and venerable boar. He managed to assemble the farm animals where he told all of them his dream of a revolution. As Major said, â€Å"our lives are miserable, laborious and short. We are born, we are given just so much food as will keep the breath in our bodies and for those of us who are capable of it are forced to work to the last atom of our strength; and the very instant our usefulness has come to an end, we are slaughtered with hideous cruelty. †(pg 7) This is particularly typical of what the Russian people faced during the Czarist days of Russia. The Bourgeoisie, or the rich, had full control over the Proletariats, who were the poor workers. The workers were treated poorly and they lived in utter poverty and misery. They were exploited and mistreated by the rich and lived a harsh life where even basic sustenance was impossible to find. It was through their labor that the Czar and the rich existed. Karl Marx noticed this problem and he wrote The Communist Manifesto, where he suggested that the workers of the world should unite and overthrow the tyrannical capitalist countries. Marx wanted the proletariat class to start a revolution and change the social structure and distribute the wealth among the masses. Old Major represented Karl Marx. They both were visionaries who called upon the tormented masses to rise up against their bourgeoisie masters, in Animal Farm’s case, Man. Yet, unfortunately both Marx and Major would never see their revolution commence. Old Major dies in three days after speaking to the animals and Marx died before the Russian Revolution began. There were only two capable leaders left on the farm who could start the revolution. Snowball was a young, intelligent and a vivacious pig with a brilliant talent for speaking. Whenever he spoke, he placed an incredible amount of emotion into his voice that pulled the animals toward him. Snowball’s objective was to carry out the last wishes of Old Major and to make life better for the animals. Snowball could be compared to Leon Trotsky who was a devout follower of Marxism and he wanted to improve the lives of the Russian people. Both Snowball and Trotsky were thrown out of power by their supposed comrades. Napoleon, a Berkshire boar, did not possess the skill and acumen of Snowball. However, Napoleon made up for this weak point by being ruthless, cruel, devious, and corrupt. His ambition was to have full control and power over Animal farm. If anyone stopped him, he would destroy the opponent. Napoleon used his dogs to intimidate the other animals and to kill any animal that opposed him. He also used Squealer, a garrulous pig who could convince any animal with doubts about the greatness of Napoleon and that it was Napoleon who thought up the revolution. Basically, Squealor was a propaganda spokesman. Old Major, before his death, had spoken out a list of seven commandments that all animals had to follow. The commandments were concerned with animal-human relations. Squealor changed and manipulated the seven commandments to suit Napoleon and the pigs. You may have noticed by now that the character names all have a symbolic meaning to them. The name Napolean refers to the legendary emperor of France. He was ruthless and he killed anyone who opposed him. Squealor, by his contemptuous actions, implied that he was a spy and he informed Napoleon about any activity against him. Napoleon could be compared to Josef Stalin, the madman of Russia. He was not as educated or convincing as Trotsky. Yet Stalin was a brutal man who craved power. He killed millions of people and used the KGB (indoctrinated dogs) to punish dissenters. Napoleon also used Moses, the tame raven, to control the animals. Moses represented the Church where he constantly babbled about Sugar Land Mountain. This heavenly abode is where all animals go when they died and they forever lived in peace and tranquility with good food and lots of rest. The animals believed in Moses because their lives were already full of misery. Surely there had to be a better place where the animals could go and be content. Moses was a tool for Napoleon. He said all this jargon in order to make the tired animals work hard and not complain and Moses was paid with bread soaked in beer. On the topic of religion, Marx considered it the, â€Å"Opiate of the people. † (2) Orwell however said that people will always turn to religion for answers and places where they could go for an easier existence. In addition, Orwell refused to approve of a society where leaders like Napoleon or Stalin distorted the true meaning of Socialism and instilled fear and tyranny over their own people. As Orwell said, â€Å"To accept Orthodoxy, is always to inherit unresolved contradictions. †(3) This makes sense because the animals had jumped out of the frying pan (Mr. Jones’ reign) and into the fire (Napoleon’s dictatorship). Either way you see the result, it is the same. The animals continued to suffer. What did Animalism accomplish? What were the goals, what were the dreams and what were the results? The basic idea was to share power and to stop the tyrant Mr. Jones (who represented the Czar). The goals of the newly established government was to declare all animals equal, that they would get more food, more sleep, respect, rules to protect animals from oppression, and technology-in the form of windmill to make life better for all. The animals owned the farm. Everything was to be equally shared. Humans were the enemy and no animals should deal with Man and no one could act like Man. As Major said, â€Å".. in fighting Man, we must not come to resemble him. Even when you have conquered him, do not adopt his vices. †(pg 12) The seven commandments were made for the protection of the animals and their rights. Leaders and workers will work together and education is available to all. These were the hopes and dreams of all animals so that they may be free from the bonds of slavery and live in happiness and equality. However, when Napoleon claimed power, the entire basis of the revolution crumbled into dust. The goals of the government were stripped to suit the Pigs. As the rule said, â€Å"some animals are more equal than others. † Rather than motivating animals to work, they are forced to work otherwise they would not receive their ration of food. The Seven commandments were changed to Pig Laws. Pigs became more powerful and thus they controlled every aspect of the farm. What I note, and Orwell also notes, is that how could the proletariats trust the self-proclaimed leaders and their intentions? As Orwell wrote, â€Å"The main weakness of Marxism is the failure of human motives†(4) and â€Å"It is impossible to have an intuitive understanding of men’s motives and therefore impossible to predict their actions. †(5) It’s difficult to fathom why the animals didn’t recognize the pig’s treachery and why they didn’t rebel. Maybe the fierce dogs were too intimidating or maybe the animals were just content with their nationalistic pride of their farm. An example of their pride can be seen when the animals march past their flag and the disinterred skull of Old Major. They have a feeling of joy and contentment because their farm is run by the animals and not humans. However as Orwell writes, â€Å"the proletariat is too easily swayed by its leaders as well as its guiding ideologies. †(6) For example in Animal Farm, the animals fail to realize that all their rights and the seven commandments are being stripped and changed before their very eyes. The knowledge that all the animals are illiterate is very useful to Napoleon and he freely changes all the laws according to his tastes without worry. Yet the animals should have said something when the â€Å"Beasts of England,† the revolutionary song taught by Old Major, is changed to â€Å"Animal Farm. † Take Boxer the horse for example. He was a devout follower of Napoleon and he gave his life for his brethren. He sacrificed himself day and night in the construction of the windmill so that the dreams of heat and electricity would come true and that all the animals could reap the benefits. Boxer always said, â€Å"Napoleon is always right. † It is all Boxer can do whenever he had doubts. Had Boxer materialized his doubts into action, Napoleon would never have succeeded in gaining total power. That’s why I believe Boxer is attacked by the three dogs after he develops doubts about Snowball being a traitor. Luckily he is strong enough to stop the dogs. Boxer represented a communist or Animalist supporter. He was a dedicated and hard worker but the crafty Squealer and Napoleon used him where Boxer was eventually betrayed by the leaders he so willingly followed and helped. Orwell understood the significance of Marxism and shared many of its beliefs but Animalism was not an extreme political goal. The basic concept was equality, sharing, and working together for the betterment of all. Yet the system was so badly twisted by the leaders that the animals were in limbo. The animals became oppressed slaves to the pigs who became no different than the human masters. They were even crueler to the animals than Jones and the Revolution became a cruel joke. What changes had occurred? Absolutely nothing except that instead of humans ruling over animals, animals came to rule over animals. The final line in the book summarizes it all, â€Å"The creatures outside looked from pig to man and man to pig, and from pig to man again; but already it was impossible to say which was which. †(pg 155)