Short Answers Essay Example | Topics and Well Written Essays - 500 words - 1

Short Answers - Essay Example (Mulvey, 1989) The developing hypothesis of the exhibition is old to be surprisingly striking in early English, and making significant characterizations of the hypothesis itself. This is accomplished capably by the changing scenerior of a helpful second, effectively investigated by the situationsits approach, known by its particular way to deal with natural difficulties. The idea is gotten from the developing rundown of the cultural comprehension of assembled intellectualism. The stuns that were chronicled recognized investigate wonderful minutes, which are captivating and are special particularly when significant subordinates surprisingly including great minutes and great political scenes. Specific words are particularly significant and their implications are massively huge to the way of life that investigate them. Works as clarified by different savants depend on changing phonetic patterns, and which are definitively investigated through ages and through times of progress. Denotative and indicative importance gives different edge subsidiaries that are most popular for semiotics or in different occurrences semiology. Semiotics is old semantics that is characterized in today’s language as the center idea inside which ideas of language are built up. The finger subordinate in a signifier gives an enduring answer for word changes, making visual subsidiaries at different focuses. Denotative is characterized by a signifier and which recognize an undeniable importance of a particular sign. For instance as per a covered explanation, the undeniable hypothesis is to give a customarily pleasant articulation that is additionally alluded to as the principal request implicati on. Then again, demonstrative importance offers the socio-social just as the individual affiliations comparative with passionate, ideological degrees of the offered hint. The speculations characterizing the visual culture are characterized by

Perfect competition, monopolistic competition, oligopoly and monopoly Assignment

Impeccable rivalry, monopolistic rivalry, oligopoly and syndication - Assignment Example Such market structure decreases yield so as to drive up costs and consequently increment benefits (Tragakes, 2012). Such a firm, in this manner, creates not exactly the socially dependable degree of yield and produces at more noteworthy expenses than serious firms. Oligopoly is an industry that has just a couple of firms that can intrigue to diminish expenses and drive up benefits simply like imposing business model. Be that as it may, such firms may wind up cheating against one another because of solid impetuses to undermine such deceitful understandings. At long last, monop0listic rivalry is an industry that contains many contending firms. The organizations sell a comparable or indistinguishable however in any event to some degree diverse item. The items are exceptionally separated regarding highlights and costs (OConnor, 2004). The paper examines the highlights or attributes of the bleak essential market structures. It at that point clarifies the key contrasts and similitudes between the business sectors as far as yield and value assurance. Further, the paper clarifies whether the allocative and profitability efficiencies can be accomplished in the restraining infrastructure and flawless rivalry. The market has various dealers and purchasers who purchase, this decreases the haggling power that purchasers and merchants have, for example if a vender of Milk attempts to expand its benefits by expanding the cost of milk, the purchasers in the market movements to other milk merchants. The venders are basically value takers and not value creators. The items sold in such a market are nearly the equivalent or indistinguishable as other. The items are indistinct from one another on the grounds that they are ideal substitutes for one another. The items are splendidly comparative in amount, quality, size and shape. Items like corn, oil and wheat are instances of homogenous items (Kurtz and Boone, 2011). Purchasers and merchants are absolutely allowed to enter and leave the market. There is no limitation forced on the section and exit of purchasers and dealers. The organizations get ordinary

How to Help Children Overcome the Fear of Death

How to Help Children Overcome the Fear of Death Phobias Types Print Helping Your Child With the Fear of Death What Parents Should Know About Thanatophobia By Lisa Fritscher Lisa Fritscher is a freelance writer and editor with a deep interest in phobias and other mental health topics. Learn about our editorial policy Lisa Fritscher Medically reviewed by Medically reviewed by Steven Gans, MD on July 20, 2016 Steven Gans, MD is board-certified in psychiatry and is an active supervisor, teacher, and mentor at Massachusetts General Hospital. Learn about our Medical Review Board Steven Gans, MD Updated on January 16, 2020  KidStock/Blend Images/Getty Images More in Phobias Types Causes Symptoms and Diagnosis Treatment There is help for  thanatophobia, the fear of death. This phobia cuts across religious, social, and cultural boundaries, affecting people of all ages and backgrounds. But it can be disturbing for adults when the fear of death surfaces in children. We generally expect kids to be happy-go-lucky and fearless, and any phobia can be difficult for parents to address. When the fear is of death,  it can be particularly challenging to cope. Why Fear of Death Is Primal Fear The fear of death is common for children around the ages of six or seven. Researchers believe that children view death without all the trappings, religious beliefs, or defense mechanisms that adults have. Instead, children see death as a terrifying state of nothingness,  and they dont necessarily understand what causes it. Your child may view death as a fulfillment of their own subconscious wishes and desires. Kids also lack an adult concept of time, making it difficult to grasp the idea that someone can go away and then come back. When mommy is gone, as far as the child is concerned, she is dead. This leads to separation anxiety,  common in children between 8 and 14 months, and other fears that involve  being alone. The Role of Magical Thinking In an adult, magical thinking is a possible symptom of a psychological disorder. But magical thinking in children is a normal developmental process. Kids lack the experience and knowledge needed to perceive the world rationally. Instead, most children go through a phase of believing that their thoughts and wishes are all-powerful. This may be an effort to gain some control over the world around them, but fantasy is a double-edged sword. If the child thinks about someone dying, in his mind that alone  could kill that person. So kids develop rituals and superstitions designed to protect themselves from those wishes becoming a reality. How to Help a Child With Thanatophobia In most children, the fear of death will not become pathological. Most childhood fears are soon outgrown as kids gain maturity and begin to shift their focus to the here and now. However, your child may receive a thanatophobia diagnosis if her symptoms present for six months or more.? Your reaction as a parent or teacher can partially influence how long-lasting and severe the childs fear of death is. Many adults assume that kids have no real concept of death, so they avoid talking about it with their children. But kids tend to ask for information when they are ready for it. Healthy, child-led dialogue can help kids put death in perspective and minimize their feelings of responsibility for it. Seeking Therapy for Thanatophobia If your child displays a severe, life-limiting fear of death, or if the fear lasts for more than six months, seek professional guidance. Counseling is also recommended for children who experience a significant loss such as the death of a parent or close friend  or  witness a traumatic event such as a school shooting. Placing your child in therapy can trigger your insecurities or make you wonder if you somehow failed as a parent. In reality, phobias can develop for a seemingly endless number of reasons. Early intervention gives your child the best chances to fully combat the phobia and move on with his life.

Interpersonal Communication Essay - 813 Words

Interpersonal Communication Eugenia Kleist July 1, 2013 BSHS/385 Dr. A. Marie Davis Interpersonal communication involves the relationship between two people and how they communicate with one another. There are many different types of relationships that people have with others. Each different type of relationship requires different types of communication. Not every relationship is the same and the way people communicate with one another is a very important aspect of how the relationship works. Interpersonal communication is impacted by emotions and at times these emotions can cause obstacles within relationships. Another important aspect of a relationship is one’s cultural beliefs.†¦show more content†¦If they allow their relationships to become too personal this could actually harm the progress of the client. Non- verbal expression is just as important when working with clients. The way one shows their emotions is obvious to many people. If one acts bored a client may feel they are not being heard. Some people suffer from dyssemia which is t he inability to read non-verbal messages or even how to send them. This affliction can cause issues and therapists need to be aware of this condition as well. There are three obstacles that can possibly effect emotional communication. Societal and cultural customs, our society teaches us what is and is not appropriate to express emotionally. Fear, when you express emotions, you are putting yourself in a position of vulnerability, so it can be natural to fear how people will react to your expressions(Forbes, 2012). Inadequate interpersonal skills the lack of interpersonal skills can make it difficult to be able to express ones feelings as well. One must take steps to better control their emotions and learning how to do this is an important task for any therapist. First one must understand their feelings, they need to be able to describe their feelings and be able to address and handle anger. Anger is one emotion that can cause the most distress in any relationship. Many time s a client is full of anger and this can cause for a hostile relationshipShow MoreRelatedInterpersonal Communication753 Words   |  4 PagesTitle Student’s Name COM200: Interpersonal Communication Instructor’s Name Date (Sample March 19, 2014) Introduction- Thesis Statement * If you’re having difficulties writing a thesis, use the thesis generator in the Ashford Writing Center - https://awc.ashford.edu/writing-tools-thesis-generator.html. Remember, a thesis should make a claim – a definitive statement – about some issue. Here is an example: Effective communication is the most important factor in a successful relationshipRead MoreInterpersonal Communication Essay952 Words   |  4 PagesI. Introduction AND Thesis Statement Interpersonal communication is key to the life of a healthy relationship or marriage. Without communicating relationships and marriage will end failing. One of the biggest challenges with interpersonal communication lies in our ability to share our thoughts and concerns, conducted by feelings, desires, goals and needs, with another person 1) Explain the principles of and barriers to effective interpersonal communications. (You don’t have to list the objectivesRead MoreInterpersonal Communication And The Self1351 Words   |  6 PagesThroughout this semester in communications I have learned a lot about myself, how to deal with others, relationships, and more. There were some lessons that stood out to me the most, and that I thought about after class. The first was in chapter 3 about interpersonal communication and the self. During this chapter, we took a piece of paper and put four people that we knew down. We chose someone who we were just getting to know, and then others that we knew very well or that were very close to usRead MoreInterpersonal Communication1053 Words   |  5 PagesInterpersonal Communication Interpersonal communication is defined by Michael Cody as: the exchange of symbols used to achieve interpersonal goals(28). Does this definition include everything, or does it only include certain things?. When we are dealing with the issue of interpersonal communication we must realize that people view it differently. In this paper I will develop my own idea or definition of what interpersonal communication is. I will then proceed to identify any important assumptionsRead MoreInterpersonal Communication2332 Words   |  10 PagesAbstract Interpersonal communication is a form of communication involving people who are dependent upon each other and with a common history. There are various aspects of interpersonal communication that can be discussed. This paper looks at the principles of interpersonal communication, its barriers and relationship with emotional intelligence. Four principles are identified, which are: interpersonal communication is inescapable; interpersonal communication is irreversible; interpersonal communicationRead MoreInterpersonal Communication Elements2395 Words   |  10 PagesInterpersonal communication is cyclic in nature. The message I sent and then feedback is given to complete the communication cycle. As it is on going hence the relationship that is impersonal at the beginning turns into interpersonal where one person is at times the sender and at other times the receiver. A. Source [sender] – Receiver:  Interpersonal communication involves at least 2 individuals. Each person formulates and sends message [sender activity] and at the same time receives and comprehendsRead MoreInterpersonal Communication And The Workplace946 Words   |  4 PagesInterpersonal communication in the workplace is developed positively or negatively on the individual relationships we have combined with our human behaviors and human actions within each of those relationships. There are many things that can affect interpersonal communications within the workplace, from generational that create technological gaps, to diversity and tolerance it creates, and finally the type of workplace, is it a team environment encouraging inclusiveness within the organization orRead MoreInterpersonal Communication Skill Of Feedback983 Words   |  4 PagesThe interpersonal communication skill of feedback is essential for hospital nurses to give a suitable care to each patient because it enables the nurses to learn, and improve their motivation, performance and efficiency that assist to achieve their goal which is to help the patients heal. The interpersonal communication skill of feedback is a system of conveying information between two people regarding the receiver’s performance (Baker et al. 2013). In general, feedback is employed to deliver informationRead MoreInterpersonal Communication1292 Words   |  6 Pages | | | |Interpersonal Communication | | Read MoreThe Effects Of Interpersonal Competence On Interpersonal Communication1053 Words   |  5 PagesIntroduction Interpersonal competence is an aspect of communication that is rarely given attention despite being a crucial facet of human interaction. In fact, Beebe et al. argue that it is comparable to breathing for being do critical to human growth (2). According to Beebe et al., this aspect of communication is necessary to maintain relationships and to improve affairs between lovers (6-7). To enhance our competence in interpersonal communication, we need to learn and master ways of verbally relating

Business Plan on Yogurt - 2075 Words

1) Executive Summary 1.1 Overview and summary of Business Plan Mama Mia is a goat milk yogurt dessert bar described as a self-served dessert bar where by customers will be able to enjoy choosing their own yogurt flavor with different types of fruits and topping. The aim of this business is to incorporate limited unique flavours (e.g: Pumpkin, Eggnog, RootBeer, Key Lime Pie, Bread Pudding Yogurt. etc.) The Mama Mia menu sets us apart from other dessert bar, giving us a competitive edge. We carry the highest quality fresh goat milk yogurt. The yogurt provided by â€Å"Mama Mia Goat Milk Yogurt† are different from the common yogurt found in the market. They are 100% made from fresh goat milk produced daily with no any other†¦show more content†¦Thus, this Goat’s Milk yogurt will benefits the women and they do not need to pay for a high price either. 2. Company Analysis 2.1 Mission of Goat Milk Yogurt Our main goal is to be one of the most successful Goat milk yogurt outlets in Singapore. We want our customers to have the total experience when visiting our outlet as they are will aware about this fascinating new product. Our main focus will be serving high-quality yogurt at a great value. 2.2 Features, Functionality and benefits [pic] There will be 4 partners to start with this business. Each partner will take a different role in the business. This will be the organization process of Mama Mia Goat Milk Yogurt. (see below Figure 2.2 A). [pic] Figure 2.2 A . 2.3 Creating Market Presence for Goat Milk Yogurt The most effective and directly influence of market presence is to advertisement through social networking platform such as facebook and blog shop to create product awareness. Printings of flyers and distribute them in the neighborhood is a good source of creating market presence as it is another tool of promoting the product involving low capital cost. 2.4 Production cost of Goat milk yogurt The production cost will be involved as follows:- Fixed Input One timeShow MoreRelatedThe Yogurt Bar Business: An Executive Summary808 Words   |  3 Pagesretaining their sweet tooth. For this reason, frozen-yogurt businesses provide an ample opportunity to succeed. Yogurt has fewer calories than ice cream, and can be made into fruit smoothies and other healthy beverages. Because of the tremendous marketing push from companies to make their products healthier, the frozen-yogurt business should focus on the benefits of healthy eating while still being able to enjoy tasty snacks. The Yogurt Bar business is designed to help people make healthy choices whileRead MoreColombo Soft Yogurt958 Words   |  4 PagesColombo Soft-serve Frozen Yogurt 1) Colombo Yogurt Company faces competition in two different channels, namely the independent yogurt shops and impulse shops that sell other products besides yogurt. During the early 90s, Colombo’s competitive environment consists mainly of franchise operations like TCBY and Freshens. The size of these franchise companies that account for most of the independent yogurt stores pose a serious competition to Colombo and by the early 90s, the yogurt stores have added distinctiveRead MoreThe Total Global Retail Value For Yogurt1026 Words   |  5 PagesBackground The total global retail value for Yogurt has reached $78 billion and it is growing as there is strong consumer demand for dairy products that help promote a healthy lifestyle (Johnson, 2017). The U.S yogurt market is also competitive where â€Å"the U.S. consumption of yogurt per person grew 645 percent from 1980 through 2013, as tracked by the U.S. Department of Agriculture† (Schafer, 2017). According to Statista, yogurt sales in the U.S has increased to $7.7 billion in 2015, which previouslyRead MoreCase Study : Interactive Campaign Plan Essay935 Words   |  4 PagesYaourt: Interactive Campaign Plan The Client Opening your own business is a huge risk. Owner Kim Nguyen launch her dream business, Yaourt, in 2012. Ever since she was a child in Vietnam, Nguyen dreamed of opening an ice cream shop. The opportunity to make her dream a reality presented itself shortly after she completed her MBA at the Ohio State University when a frozen yogurt store owned closed close to her home. Nguyen, who also hold a bachelor’s and master’s degree in chemical engineering, tookRead MoreMarketing Analysis : Yogen Fruz1305 Words   |  6 Pages12 Appendix†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦14  Executive Summary Yogen Fruz is a frozen yogurt company attempting to expand its number of stores within China. The brand is built around the idea of using high quality healthy ingredients in their products while creating a unique environment that customers will enjoy and want to return to. While most frozen yogurt competitors are just entering the Chinese market, Yogen Fruz is already established with locations in two of theRead More business plan Essay1191 Words   |  5 Pagesof this business plan is to support a request for a 75,000 five-year bank loan to purchase equipment and inventory as part of the financing for a start-up sole proprietorship, Fast ‘n Fresh Premiun Ice Cream Parlor. The business will be owned by Daniel W. Beese and will be located in leased space at 858 Success Ave in the new Riverside Faire shopping center, Jacksonville, FL 32211. The owner will provide a minimum of 75,00 in initial equity. nbsp;nbsp;nbsp;nbsp;nbsp;The business will serveRead MoreBusiness Plan1207 Words   |  5 PagesThe purpose of this business plan is to support a request for a 75,000 five-year bank loan to purchase equipment and inventory as part of the financing for a start-up sole proprietorship, Fast ‘n Fresh Premiun Ice Cream Parlor. The business will be owned by Daniel W. Beese and will be located in leased space at 858 Success Ave in the new Riverside Faire shopping center, Jacksonville, FL 32211. The owner will provide a minimum of 75,00 in initial equity. The business will serve healthy andRead MoreChobani : Case Study : Chobani Essay1183 Words   |  5 Pageswhen he came to the states from Turkey (Chobani History 2016). Chobani is a company known for having the best Greek yogurt in the United States. Chobani prides themselves on having a high quality yogurt that is incomparable with any other brand of yogurt out on the market. This dedication the quality is what sets Chobani above everybody else is directly causing their positive business growth. By the end of 2015 Chobani’s revenue was at â€Å"$1.5 billion where their competitors were at $250 million† (GiammonaRead MoreMarketing Strategy : The Ing Zone 871 Words   |  4 PagesBusiness Description: â€Å"The Fro-Zone† will be an Ice Cream store based in Centennial at the Southglenn Mall. Combining the boon of local product, such as milk and fruit, with the use of liquid nitrogen in the ice cream creation, our product will be fresh, but also something that does not currently exist in the Colorado area. The Fro-Zone will be a tasty treat for a hot day, and beneficial for local agriculture. The innovation of the liquid nitrogen cooling system will provide high-quality productRead MoreNatureview Farm Case1181 Words   |  5 PagesFarm is a small yogurt manufacturer with annual revenues of $13 million. It produces three different size cups – 8 oz. cup, 32 oz. and 4 oz. cup multipack. However, Natureview’s goal is to increase its annual revenue to $20 million in two years. With a solid relationship with its current, successful strategy in the natural foods channel it is considering expanding into the supermarket channel. Conversely, it does not want to hurt th e company brand it has created as a premium yogurt brand in the natural

The Great Gatsby Essay Free Essays

This book reminds me all too much of a song called â€Å"Pick and Choose† by Stepped. They both are bout a man wanting a certain Woman more than anything in the world, but she always has an excuse to turn the other way. In the first verse of Pick and Choose, the lyrics say, â€Å"If I could pick, could pick and choose, I’d choose you its old news. We will write a custom essay sample on The Great Gatsby Essay or any similar topic only for you Order Now If I could pick, could pick and choose, I’d pick you, yeah, I can’t lose. † (1-6) This to me is how Gatsby feels towards Daisy. For 5 years all he ever wanted was she. She was his missing piece. With Daisy, he would be complete. Gatsby was a man with great wealth and everyone knew his name. He would not have the slightest trouble in finding another woman. But he did not care; he did not ant just any another woman. Daisy was the one he â€Å"chose†, just like the song says. Daisy Buchannan is the kind of woman who looks for security in a man. If her lover is not one to posses much wealth then she, in a way, panics and leaves him. She was madly in love with Jay Gatsby, just like he was with her. When he left to fight in the war, Daisy waited and waited but Gatsby could not return. He wanted to make something of himself before returning home to his one true love. He wanted to be able to support her and give her everything she could have ever wanted. He knew that this was not possible with the money he had at the time. He wrote her a letter asking her to wait because he felt married to her, but of course Daisy knew that he was not stable enough to support her. Her present day husband, Tom Buchannan, then gave her a string of pearls. He was old money, very stable. Daisy knew that with him, she would live a comfortable life full of riches. So she up and married Tom, leaving Gatsby heartbroken. In the song â€Å"Pick and Choose† in the second verse, the song says â€Å"And when ask you if I’m good enough you tell me no. Sometimes feel like can call your bluff, you ought to know† (9-10) This, to me, is how Gatsby feels when she ends up marrying Tom. I think he feels like he must not have been good enough. He had just as much money as Tom; he did all these wonderful things just to get her attention, yet she still seems to Stay with this terribly dreadful man. Gatsby just wants to love her and give her the world, but he is no fool. He knows that Tom is old money; he is stable. This is why Daisy stays with him. In â€Å"Pick and Choose†, the song says, â€Å"Hold on, hold on, I’d give up everything for your admiration. Hold on, Hold on, I wand let you know that I’m never leaving your side. † (23-26) This makes me think of how Gatsby does everything that he does for Daisy. Just like how he made great amounts of money for her, he would give it all up for her as well. He would do absolutely anything to make her understand how much he loves her. Even when they have an affair together, even when she panicked and tried to back out of telling Tom the truth about her and Gatsby, he stayed by her side, hoping to God that she would make the right choice so they could finally be together after so many years apart. In the part of the book where Gatsby and Daisy invite everyone to lunch so they can tell Tom about their deep love for each other and go public, things id not go as smoothly as they both had hoped. Daisy froze and then began to panic just as they were about to reveal their news. Gatsby decided to speak for Daisy to get them out of the sticky situation. There was nothing at this point that was going to stop him from being with his soul mate. In â€Å"Pick and Choose†, the song says, â€Å"You and me, we’re so caught up in awkward situations. Let me be, be the one who kills this contention. Nothing in this world will stop the beating heart for you. Maybe I’m just crazy but I know that you can feel it too, like do. â€Å"(27-30) This, in my eyes, describes the scene so ell: Gatsby trying to get them out of this horrid situation. How to cite The Great Gatsby Essay, Essays

The Loewen Group Inc. was founded in 1969. The com Essay Example For Students

The Loewen Group Inc. was founded in 1969. The com Essay pany has two major headquarters in North America, one in Burnaby, British Colombia and a second in Cincinnati, Ohio. Loewen Group Inc. (L.G.I.) is the largest funeral services enterprise in Canada and is the second largest company in the North American Funeral Services Industry. L.G.I. owns 918 funeral homes and 269 cemeteries and also engages in the pre-need selling of funeral services including cemetery and cremation services. The company strives on respecting its Eagle Principle, which is displayed on the first page of its 1995 Annual Report:To soar to heights of possibilities one needs two equally healthy, strong wings one being that of people or service concerns, the other that of responsible planning and fiscal management. It is the balance of these wings that enables the eagle to soar beyond all heights1 In 1995, the company defended itself against two major lawsuits, as well as continued to negotiate acquisition agreements. The Loewen Group Inc. stresses that once an acquisi tion has been completed, local management is encouraged to remain and offers long term contracts to its key employees, rarely dismissing the other employees. L.G.I. provides many services to its acquired companies including offering training to new employees on its management information systems and covering costs for any renovations which are needed on the acquired locations. Each funeral home and cemetery is operated as a distinct profit centre, with monthly and annual financial performance monitored by regional and corporate management in accordance with budgeted projections. This report includes a study of The Canadian Funeral Services Industry practices, a review of the take-over attempt by Service Corporation International, an analysis of the Loewen Group Inc. 1995 Annual Report for the period ending December 31, 1995, and examination of the revenue recognition practices used by L.G.I.. We will write a custom essay on The Loewen Group Inc. was founded in 1969. The com specifically for you for only $16.38 $13.9/page Order now The Funeral Services IndustryAccording to a paper issued in August 1995, by Statistics Canadas Services, Science and technology Division Final Purchase, Growing Demand: The Canadian Funeral Services Industry, the funeral services industry, in comparison to other industries, has historically been considered a low risk industry. The Funeral service industry is not significantly affected by economic cycles. The stability of the industry is increased by future demographic trends. Individuals from the baby boomer generation are now entering their fifties and the death rate is growing slowly at 1.5% per year, compounded, as demonstrated in Appendix A: Deaths, Actual and Projected. The industry is characterised by above-average profitability and revenue growth. Public Health issues and consumer protection issues are primarily regulated at the provincial level of government. These regulations are implemented to protect the dignity of the deceased as well as his or her estate. These regulations are described in detail in the revenue recognition section. Loewen Group Inc. StrategiesThe Provident America Corporation lawsuit was settled in February, 1995 for US $19 million. On November 2nd, 1995, a jury in Jackson, Mississippi, awarded US $500 million in Breach-of-contract lawsuit brought by Gulf National. This amount is almost twenty-six times high than what was originally asked for. In order to appeal, Loewen was required to post a US $625 million bond, which was later reduced to US $125 million with the condition that there would be no significant change in assets or increases in dividends without prior notification to the court and the other party. No provision on was made on the financial statement at this point since the result was hard to predict on the appeal. On January 29th, 1996, Loewen settled the lawsuit for US $175 million and recorded US $135 million, present value of $175 million. Loewen decided to settle because of two reasons: the first is that the appeal would have a financial impact on the companys income and the se cond reason is that prolonging the lawsuits would create uncertainty and speculation amongst the companys shareholders. S.C.I. Take-over AttemptOn September 17, 1996 Service Corporation International (S.C.I.), the largest Funeral Service Company in the world, placed a $ 2.5. billion take-over bid for Loewen Group Inc. The bids share value is equivalent to US $ 43 each. Houston based S.C.I.s bid was considered to be fair by many analysts like Todd Richter of Dean Witter Reynolds Inc. (New York) and Ivar Leipens of Moss, Lawson ; Co. (Toronto). Another analyst, Dean Martin of TD securities Inc. (Toronto), stated that the bid was too low and that the a bid of US $ 50 would be fair. He noted that Chairman Ray Loewen and his management team retain 20 % (15 % + 5 % respectively) of the companys stock. Canadian institutional holders of the companys stock would be more likely to support the company because they must follow constraints such as a cap of 20 % on foreign holdings in regards to Canadian Pension funds. Therefore S.C.I. will has had a difficult time gaining the support of 75 % of Loewen Group Inc. s hareholders needed as per the Canadian securities law. In the week following the announcement of the take-over bid, the fourth largest company in the industry, Equity Corp. International, based in Lufkin, Texas had contacted the Federal Trade Commission in regards to how to become eligible to bid for divested properties if the take-over took place. Equity Corp. International is 40 % owned by Service Corp. International. Another company, Continua LLC, offered Loewen Group Inc. $ 500 million in exchange for some of Loewens southern US holdings. On September 27, 1996 the State of Florida launched an antitrust probe into the take-over bid. The state was worried about the impact it would have on Medicare issues, pricing and other areas. S.C.I. would raise the bid to US $ 45 per share before Loewen rejected the bid on October 10, 1996, while at the same time launching an antitrust lawsuit against S.C.I. and Equity Corp. International. The lawsuit accused the two companies of conspiring to eliminate L.G.I. from the industry. All companies in the Funeral Service Industry are continuing to reposition themselves as the industry continues to expand. If successful, S.C.I. would be able to monopolise the North American market. S.C.I.s take-over proposal is intended to eliminate the competition in North America. S.C.I. wanted to buy cheap after the one time event with the jury. By taking over Loewen, S.C.I. would become the preferred buyer in the industry. Loewen rejected their offer because of the following reasons:1) inadequate proposal which has a potential anti-competition effect in thecommonwealth of the industry. 2) Although both companies encourage the integration of new acquisitions in their structures, Loewen felt that its structure would not be preserved. 3) Loewen is considered as the preferred acquirer in the industry after the acquisition of two of its key assets: Prime Succession, and Ross Hill Memorial Park, two major cemeteries in the United States of America. Loewen decided that it is best to continue implementing the companys long term business plan as an independent company. Loewen has created a good corporate culture and has a record for caring for its employees, customers, and communities it serves. Annual Report AnalysisThe Loewen Group Incorporated 1995 Annual Report covers the period beginning January 1, 1994 and ending December 31st, 1995. This analysis will cover the following items: the report to the companys shareholders, the Striking a Balance section of the report and the operational highlights. The operational highlights analysis will include Managements Statement of Responsibility, the Auditors report to the Shareholders, a ratio analysis of the financial statements disclosed in the report as well as the pertinence of the notes regarding the financial statements. .u3a70c5644e75a15198bfda4fe930caef , .u3a70c5644e75a15198bfda4fe930caef .postImageUrl , .u3a70c5644e75a15198bfda4fe930caef .centered-text-area { min-height: 80px; position: relative; } .u3a70c5644e75a15198bfda4fe930caef , .u3a70c5644e75a15198bfda4fe930caef:hover , .u3a70c5644e75a15198bfda4fe930caef:visited , .u3a70c5644e75a15198bfda4fe930caef:active { border:0!important; } .u3a70c5644e75a15198bfda4fe930caef .clearfix:after { content: ""; display: table; clear: both; } .u3a70c5644e75a15198bfda4fe930caef { 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; } .u3a70c5644e75a15198bfda4fe930caef:active , .u3a70c5644e75a15198bfda4fe930caef:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u3a70c5644e75a15198bfda4fe930caef .centered-text-area { width: 100%; position: relative ; } .u3a70c5644e75a15198bfda4fe930caef .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u3a70c5644e75a15198bfda4fe930caef .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u3a70c5644e75a15198bfda4fe930caef .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; } .u3a70c5644e75a15198bfda4fe930caef:hover .ctaButton { background-color: #34495E!important; } .u3a70c5644e75a15198bfda4fe930caef .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u3a70c5644e75a15198bfda4fe930caef .u3a70c5644e75a15198bfda4fe930caef-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u3a70c5644e75a15198bfda4fe930caef:after { content: ""; display: block; clear: both; } READ: When The Legends Die (769 words) EssayThe annual report stresses the companys belief in its Eagle Principle. In the report to the companys shareholders, The chairman and chief executive officer, Ray Loewen stresses that the company showed outstanding growth despite the inflicting costs associated with the two major lawsuits it dealt with. He thanked the shareholders for their support, then stated promising figures that were overshadowed by the above for mentioned events. He continued with the aspect of growth by discussing the companys acquisitions. Mr. Loewen concluded by promising to continue to uphold the companys standards in 1996. The Striking a Balance section of the annual reports purpose is to provide answers from management and executive members about questions shareholders might have about the Loewen Group Inc. beliefs, operations and structure. The topics ranged from the effect of the Gulf National lawsuit to how the services provided by Loewen benefit the communities it serves. This section does not disclose monetary figures, its responsibility lies in creating or restoring the trust of its potential shareholders and current shareholders before they analyse the financial statements in the following section of the annual report, by demonstrating the personal accountability of its staff . Operational HighlightsThe managements statement of responsibility states that management has presented fairly the financial position of the company while respecting the generally accepted accounting principles in Canada. Management also states that it maintains its control systems to assure that also transactions are com pleted and recorded properly. The letter conclusion indicates that the auditors selected are independent. The auditors report to the shareholders notes that the audits made by KPMG Peat Marwick Thorne (independent auditors) were based on the generally accepted auditing standards and summarises its criterion: finding evidence of amounts and disclosure policies and the manner in which the company adopted the generally accepted accounting principles. The auditors concluded upon the completion of the audits that the information provided in the consolidated financial statements to be presented fairly because the company applied generally accepted accounting principles consistently. Ratio Analysis of Financial StatementsAll ratios presented show 1995 in the first column and 1994 in the second column. As shown with the return on equity ratio. The dollar figures in the annual report are in American currency. Performance Ratios19951994Return on equity(76684)/614682 = (0.125)38494/411139 = 0.094Return on equity based on the Scott formula (Please refer to Appendix E: for complete figures)ROE=SR*AT+ ROA-IN *D/E1995(0.125) = (0.011) * 0.265+(0.003) 0.043 * 2.68219940.094= 0.146* 0.315+0.046- 0.025 * 2.226In 1995, $50 million of cash and 1.5 million Common shares are paid off to Gulf National. The settlement decreases Loewens 1995 net income and retained earnings while increasing their owners equity. Therefore the shareholders lost 12.5 % on their initial investment, compared to a gain of 9.4 % in 1994. Return on equity, calculated without the lawsuit settlement, shows a smaller decrease of 7.8 % from the previous year. This is primarily due to the increase in share capital of $210 million made by the company to cover the debts incurred through the litigation proceedings. Based on the Scott formula results, the decrease on the return on equity ratio was caused by a loss on overall operating return before interest cost and a high leverage return. Return on assets(72949)/2262980 = (0.032)95113/1326275 = 0.0717Total assets increased by 70.6 % however, the costs associated with the legal settlements ($165 million) resulted in a net loss. These occurrences resulted in a negative return on assets. The negative return on assets normally indicates trouble in ability to pay interests. Only $53 million of $165 million was paid in cash and the remainder was recorded as a long term liability without interest. We can also relate these figures to the decrease in credit ratings of Loewen Group Inc. by the following credit facilities: Duff Phelps Credit Rating, Standard Poors Rating Group and Moodys Investor Services as stated in the Current Credit Facilities and Credit Ratings section of the 1995 annual report.Sales return(76684)/599939 = (0.128)38494/417328 = 0.092In 1994, 9.2 % of all revenues ended up as profit, while in 1995, 12.8 % of all revenues were recorded as a loss. 0.080If the company would not have had to incur the costs relating to the lawsuit, 8 % of its revenues would have been profit. The costs relating to funeral homes and cemeteries expenditures exceeded the revenues they generated, because their revenues were not considered revenues of L.G.I. until the acquisitions were completed. Gross margin599939-373131/599939 = 0.378417328-258474/417328 = 0.381Average interest rate50913/1648298 = 0.03134203/91536 = 0.037The gross margin and the average interest rate both remained st eady. Cash flow to total assets39454/2262980 = 0.01711649/1326275 = 0.009Cash flow to total assets ratio shows an increase, because the new acquisitions generated more revenues. The majority of the costs related to the Gulf National lawsuit were not included in the ratio, since a large percentage of the costs were recorded as long term liabilities. These liabilities did not involve a cash transaction. Earnings per share(1.690)0.970Book value per share614682000/48167765 = $12.761 per share411139000/41015447 = $10.024 per sharePrice-earning ratio34.380/(1.690) = (20.343)36.750/0.970 = 37.887Dividend payout ratio0.050/(1.69) = (0.030)0.070/0.970 = 0.072Earnings per share shows a large decrease in percentage, since the company issued US $ 210 million dollars worth of new shares. Therefore the dividends were distributed to a larger number of shares. The value of shareholders equity per share increased from US $ 10.02 in 1994 to US $ 12.76 in 1995.The dividend payout ratio decreased becau se earnings per share decreased. The price earning ratio lowered due to the decrease in earnings per share, as well as the current market price per share. Activity RatiosTotal asset turnover599939/2262980 = 0.265417328/1326275 = 0.315The total asset turnover remained steady because of the new acquisitions off balanced the legal settlements and litigation cost. One American dollar of total assets generated US $ 0.27 in 1995, whereas in 1994, it generated US $ 0.32. Inventory turnover373131/27489+19673/2= 15.800210471/19673+15952/2= 11.820Collection ratio115953/599939/365 = 70.50070547/417328/365 = 61.700The inventory turnover was 15.8 times in 1995, an increase from 11.8 times in 1994.In 1995, it took 70.5 days to collect accounts receivables compared to 61.7 days in 1994. This has a negative impact on the companys liquidity. Financing RatiosDebt-equity ratio1648298/614682 = 2.682915136/411139 = 2.200Long-term debt-equity934509/614682 = 1.520516654/411139 = 1.260Debt to assets ratio1648298/2262980 = 0.728915136/1326275 = 0.690The companys reliance on debt increased because the costs it had to incur relating to the Gulf National lawsuit as well as the insurance liabilities incurred created by the two insurance companies it received during the acquisition of S.I. Acquisitions Associates, L.P. Liquidity and Solvency Warning RatioWorking capital ratio191081/241275 = 0.790109868/97665 = 1.125The working capital ratio lowered to 0.790 from 1.125 in 1994. This means that their current liabilities increased at a faster rate than their current assets in 1995. This is cause for concern because ideally this ratio should be at $ 2 of assets to $ 1 of liabilities. .u0b001b40d4c67af4fa9077bddc2a9c46 , .u0b001b40d4c67af4fa9077bddc2a9c46 .postImageUrl , .u0b001b40d4c67af4fa9077bddc2a9c46 .centered-text-area { min-height: 80px; position: relative; } .u0b001b40d4c67af4fa9077bddc2a9c46 , .u0b001b40d4c67af4fa9077bddc2a9c46:hover , .u0b001b40d4c67af4fa9077bddc2a9c46:visited , .u0b001b40d4c67af4fa9077bddc2a9c46:active { border:0!important; } .u0b001b40d4c67af4fa9077bddc2a9c46 .clearfix:after { content: ""; display: table; clear: both; } .u0b001b40d4c67af4fa9077bddc2a9c46 { 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; } .u0b001b40d4c67af4fa9077bddc2a9c46:active , .u0b001b40d4c67af4fa9077bddc2a9c46:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u0b001b40d4c67af4fa9077bddc2a9c46 .centered-text-area { width: 100%; position: relative ; } .u0b001b40d4c67af4fa9077bddc2a9c46 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u0b001b40d4c67af4fa9077bddc2a9c46 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u0b001b40d4c67af4fa9077bddc2a9c46 .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; } .u0b001b40d4c67af4fa9077bddc2a9c46:hover .ctaButton { background-color: #34495E!important; } .u0b001b40d4c67af4fa9077bddc2a9c46 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u0b001b40d4c67af4fa9077bddc2a9c46 .u0b001b40d4c67af4fa9077bddc2a9c46-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u0b001b40d4c67af4fa9077bddc2a9c46:after { content: ""; display: block; clear: both; } READ: Poverty In America EssayAcid test ratio39454+115953/241275 = 0.64415349+70547/97665 = 0.880Interest coverage ratio72949-47178/50913 = 0.50624029+19738/34203 = 1.280Both the acid test ratio and the interest coverage ratio both fell from last year. The acid test ratio decrease was caused by larger increase in liabilities than assets. The interest coverage ratio decreased below to 0.506 which is below the ideal target of 1. The company is not generating sufficient income to cover its obligations as they become due. Revenue RecognitionThis analysis of the revenue recognition practices by Loewen Group Inc. is divided into two sections. The first section will concentrate on revenue recognition practices relating to funeral services and the second section will develop those relating to the cemetery operations of this company. We have included three Appendixes, Appendix B: Average Funeral Costs, Appendix C: Revenue by Source in the Funeral Service Industry and Appendix D: Total Revenue of the Funeral Service Industry by Sector for additional references .Funeral homes offer services, which include everything from the actual service and registration of the death of an individual to the sale of a casket. These services can be purchased at-need, which is considered as a purchase at the time of death, or pre-need, which is a prearranged contract established while the deceased is still living. Provincial regulations in Ontario protect the consumer with respect to pre-need funeral and cemetery services. In general, the regulations require a specific percentage of pre-paid funds to be deposited in trust. Ontario requires 100% deposits in trust on the sale of pre-arranged funeral services. This is required in order to protect the consumer from service non-delivery due to the closure or failure of the firm where they purchased the funeral services. Firms within the province of Ontario can not take the fullest financial advantage of pre-need services due to regulatory restrictions on the funds in question. However the firms still benefit, in that they are gaining control of future market share, and can be certain of future revenue flows. Payments made for pre-need contracts are either placed intrust by the company or are used on behalf of the purchaserof the pre-need contract to pay premiums on life insurance policies under which the company is the designated beneficiary. At the date of performance of a pre-arrangedservice, the company records as a funeral revenue the amount originally trusted or the insurance contract amount,together with all related insurance contract amount, together with all related accrued trust earnings and increased insurance benefits2 Pre-arranged funeral services are included in other assets and amortised over a period of ten years approximating the period the benefits are expected to be realised. The regulations regarding cemeteries focus on public health aspects and the care and maintenance of cemetery grounds. Funeral home companies are required to deposit a certain percentage from the proceeds of sales of interment rights (ie: the lot, crypt or riches for the final disposition of the remains). These perpetual care funds are held in perpetuity and is not considered an asset to the firm. The firm does however have the right to the interest earned on the funds in order to provide the care and maintenance of their cemeteries.The percentage required to be deposited into the perpetual care fund varies from 5% to 40%, depending on the area. In the event that the firm suspends its operation these funds can be made available through the province or municipality. The pre-need sale of interment rights and other related products is recorded as revenue when customer contracts are signed and, concurrently, related costs are recorded and an allowance is established for customers cancella tions and refunds based on managements estimated of expected cancellations.31995, was a controversial year for The Loewen Group Inc. The company showed its desire to expand within the funeral industry by acquiring funeral homes and cemeteries from Osiris Holding Corp., MHI Group as well as other companies. The speed in which they attempted to acquire new holdings made the company vulnerable to lawsuits. The company stated in its annual report that it has become more aware of this issue after the Gulf National incident. Although the company was severely affected financially by the settlement as demonstrated by the financing and liquidity ratios, the company showed its potential to maintain its position in the industry, as shown by the relative unchanged gross margin. The company now finds itself highly leveraged (as demonstrated by the Scott Formula calculations) and therefore has the potential for big earnings for shareholders. This has also made the company vulnerable to outsiders, as demonstrated by the Service Corporation Internationals attempt to take-over the company. If Loewen Group Incorporated is able to stop the take-over attempt, it will prove its stability.REFERENCES1. Loewen Group Incorporated, The Loewen Group Inc. 1995 Annual Report, H. MacDonald Printing.,1996, 1. 2. Loewen Group International Inc., online Available @ http://www.sec.gov/archives/edgar/data/845577/0000950109/09-96-003953.txt. 3. Ibid. BIBLIOGRAPHYFreiedman, Jack P., Dictionary of Business Terms, New York, Barrons Educational Series Inc., 1994. Gibbins, Michael, Financial Accounting: An Integrated Approach, 2nd Edition, Scarborough, Nelson Canada, 1995. Heimbecker, John, Final Purchase, Growing Demand, The Canadian Funeral Services Industry, Ottawa, Statistics Canada, 1995. The Loewen Group Inc., The Loewen Group Inc. 1995 Annual Report, Burnaby B.C.: H. MacDonald Printing, 1996. The Loewen Group International Inc., online Available @ http://www.sec.gov/archives/edgar/data/845577/0000950109/09-96-003953.txt. Milner, Brian. Loewen board rejects SCI takeover bid, The Globe and Mail, 11 October 1996, B13. Milner, Brian. Rivals target Loewen assets, The Globe and Mail, 23 Sepetember 1996, B1, B10. Schreiner, John. Loewen wont concede defeat without exacting a high price The Financial Post 19 September 1996: 1-2. Schreiner, John. U.S. giant bids for Loewen The Financial Post 18 September 1996: 1-2. APPENDIX A: Death, Actual and ProjectedSource: p.18 of Final Purchase, Growing Demand The Canadian Funeral Services Industry. APPENDIX B: Average Funeral CostsSource: p.13 of Final Purchase, Growing Demand The Canadian Funeral Services Industry. APPENDIX C: Revenue by Source in the Funeral Services IndustrySource: p.6 of Final Purchase, Growing Demand The Canadian Funeral Services Industry. APPENDIX D: Total Revenue of the Funeral Services Industry by SectorSource: p.4 of Final Purchase, Growing Demand The Canadian Funeral Services Industry. APPENDIX E: The Scott Formula (Expressed in thousands of U.S. Dollars)19951994SymbolsTotal assets22629801326275ATotal liabilities1648298915136LTotal equity614682411139ETotal revenue599939417328REVNet income(76684)38494NIInterest expense5091334203INTIncome tax rate(38.1) %33.9 %TRAfter-tax interest expense50913 * 1.381 = 7031134203 * .661 = 22608ATI = INT (1 TR)ROE (return on equity)(76684) / 614682 = (0.125)38494 / 411139 = 0.094NI / ESR (sales return before interest)(76684) + 70311 / 599939 = (0.011) 38494 + 22608 / 417328 = 0.146 NI + ATI / REVAT (asset turnover)599939 / 2262980 = 0.265417328 / 1326275 = 0.315REV / AROA (return on assets)(76684) + 70311 / 2262980 = (0.003) 38494 + 22608 / 1326275 = 0.046 NI + ATI / AIN (average interest rate after tax)70311 / 1648298 = 0.04322608 / 915136 = 0.025ATI / LD / E (debt-equity ratio)1648298 / 614682 = 2.682915136 / 411139 = 2.226L / E