White Privilege Essay Example for Free

White Privilege Essay How America came about is fascinating, and learning about immigration, rights, laws, and racism makes learning more beneficial. It helps you to understand why we, as a nation, are they way we are today, and why we will continue to be stuck in our ways. According to James Barrett and David Roediger, â€Å"The Story of Americanization is vital and compelling, but it took place in a nation also obsessed by race†¦the process of â€Å"becoming white† and â€Å"becoming American† were connected at every turn (36). † One of the most controversial topics is white privilege and discrimination. Segregation within school systems has been a dominant problem in the past and will always continue to be. Being privileged is a something that individuals should be conscious of due to their past and understand that it is a privilege to be white rather than to be discriminated against. Becoming conscious of one’s own white privilege is the first step to understand the deeper meaning of racism and discrimination. My intentions of writing this paper were to describe a situation in which I was conscious of my own white privilege. White privilege was always on my side until high school where I felt as though I was discriminated against as being a petite, white girl, from upper-class Allendale leaving me to been seen as an easy target. While at my locker one day during lunch, I was approached by two of the black students (one male and one female) and a Latino girl, and they tried to convince me something hurtful was written about me in the bathroom. Being that I am not the type to care, get involved, or respond, I turned to walk away. The Latino girl proceeded to grab my hair causing me to turn and face her and she punched me square in the face. After several minutes of back and forth wrestling and punches, the fight was broken up my teachers. It turns out that there was nothing written about me, they were just trying to get me into the bathroom to fight me, opposed to the hallway which is out in the open. All three of the students that were there were taken to the principal’s office immediately and suspended for two days whereas I got off free and I was allowed to go back to my day. During the duration of the day, one of the African American men left the principal’s office in rage and had a mission to destroy all my belongings in my locker. The boy pried open my locked and poured a bottle of soda all over my books, note books and belongings. After I reported this to our principal, he held the three students involved in the fight until one person came clean about who had been at fault for ruining my locker. It turned out, that no one admitted to it, and they were all suspended even longer than originally for not fessing up. The following week, none of the three students attended my high school anymore and I was told by my principal that they left to attend other high schools in surrounding towns. After this incident, I have never come into contact with any of them ever again. However, several of my male friends found out what happened that day and wanted nothing but to get revenge and retaliate against them and show them who runs the high school, being that whites are minority. I became very conscious of my white privilege growing up in a one-square mile suburban town of Allendale, New Jersey. My entire educational career through eighth grade consisted of white, middle-to-upper-class Americans. All the people were similar, with the same morals, values and beliefs. Everyone dressed similar and drove similar cars, partook in the same activities and hung out in specific niches. At this point in my life, I could say I could correlate my life to Peggy McIntosh’s article when she describes the matrix of white privilege; There was one main piece of cultural turf; it was my own turf, and I was among those who could the turf. I could measure up to the cultural standards and take advantage of the many options I saw around me to make what the culture would call a success of my life†¦I could think of myself as â€Å"belong† in major ways, and of making social systems work for me. I could†¦be oblivious to anything outside of the dominant cultural forms (295). It wasn’t until high school where I thought I would potentially move out of my small town bubble. My high school is regional; students from Allendale, along with the surrounding towns of Ho-Ho-Kus, Upper Saddle River and half of Saddle River attended. Being that I came from such a white school system, the thought of going onto high school and being surrounded by students of other races and ethnicities is something that never crossed my mind. I was never taught about the disadvantages of being white, but rather I learned about blacks and their disadvantages of dealing with racism. Over the years, little was taught about racism and what it stood for, instead we were just told that this is what happened to people when they were of different races and ethnicities back in the day. The article by Peggy McIntosh describes how whites are taught to think of blacks; â€Å"As a white person, I realized I had never been taught about racism as something which put others at a disadvantage, but had been taught not to see one of its corollary aspects, white privilege , which puts me at an advantage†(291). Being white was never something that I had to deal with in or outside of school, or even within my community. I wasn’t necessarily shocked to walk into high school my first day to find only a select few of Latinos and African Americans. However, these were things that I never thought about or even had to think about. The few Latinos and African Americans came from Upper Saddle River and Saddle River. I was never stereotypical of these groups of people until I was surrounded with people from towns that had engaged with these people all the way up through high school. The Latinos in my school all stuck together, as well as the three African Americans that attended my high school. I feel as though this particular situation involved me having the white privilege advantage and it seems as though my white privilege helped to get me out of trouble. I should have gotten in trouble for â€Å"self defense† and throwing punches back, but I feel as though since I had never caused problems before, and they had been the center of most of the problems I was let go with no punishment. The students that got in trouble, were seen as troublesome students because of their past, where I had a clean record with no reason to suspect I was the start of the brawl. Considering my school is mostly made up of white students and entirely white faculty, when the three students got in trouble, it was probably a stereotypical decision based on non-whites. Blacks have always endured pain and agony as, â€Å"†¦victims of discrimination, segregation, and violence, blacks in the North encountered a powerful cluster of negative racial images. These stereotypes contributed to the conditions of racial degradation and poverty, which, in turn, reinforced prejudice† (Takaki 107). This excerpt further explains that stereotypes stick and the negative racial images will forever be a part of the everyday lives of blacks. The primary reason of why the situation occurred, I believe dates back to sundown towns. Beginning in about 1890 and continuing until 1968, white Americans established thousands of towns across the United States for whites only. A ‘sundown town’ is any organized influence that, for decades, was all-white on purpose. Many towns drove out their black populations, and then posted sundown signs. Other towns passed ordinances barring African-Americans after dark or prohibiting them from owning or renting property. Evelyn Nakano Glenn helps to further explain the regulations, â€Å"White controlled municipalities passed ordinances creating racial zones. When these laws were found to be unconstitutional, whites formed neighborhood associations and turned to â€Å"private† arrangements such as economic boycotts, violence, and restrictive covenants. These restrictions deprived blacks of a central element of liberal citizenship, namely property rights† (37-38). This is proof that the African-American populations had no choice but to leave because they weren’t welcome. No one would support their businesses or wanted anything to do with them; they were literally driven out of these towns and wouldn’t stand a chance if they stayed. Being that the town of Allendale where I grew up was a sundown town, which is the most obvious explanation as to why I grew up surrounded by all whites. Moving onto high school, the other regional towns of Ho-Ho-Kus and Upper Saddle River were sundown towns as well. This plays a huge role in the situation at my high school because people of color and different races are focused on more and white students carry all the dominant privilege. If I had been a different race I think the entire situation would have never occurred because I would probably be a person that was known for affiliating with them. If I had been black, I would have probably felt like I should stick with the other three black students in the high school. The situation would have been the same if I were Latino or another race. Segregation still takes place in America and being one of only a few black families within your community will be a repetitive cycle for black families looking to move to our dominantly white community. According to Douglas Massey; â€Å"When avenues of spatial assimilation are systematically blocked my prejudice, and discrimination, however, residential segmentation increases and persists over time. New Minorities arrive in the city and settle within enclaves, but their subsequent spatial mobility is stymied, and ethnic concentrations increase†¦whereupon group members are forced to adjacent areas, thus expanding the boundaries of the enclave† (225). I feel as though since my region of New Jersey is predominantly white, what would things change now? Why would blacks and ethnic families feel inclined to move to a neighborhood where they stand out? Especially for African-American families, my town along with the surrounding towns do not sell African-American hair products in any of my supermarkets or pharmacies nor are there salons where African-American women can go to get their hair braided. My community has adjusted to the white population and being that my town is so small, I feel as though it would take dramatic lengths to change the way our community functions. Being white, I feel as though I benefited from the whole situation because I did not get in trouble for punching the girl back, and I did not get suspended. I was allowed to return to my day at school as though nothing happened while they were kept in the front office until school was let out and were suspended for the rest of the week (2 days). This experience made me think about my race in a different way because I had never encountered issues with non-white people, because I was never around them. Coming from a primarily white school, white students stand to make white privilege stick out like a sore thumb. It helped me to understand that white people dominated my school population and that this would have never been an issue if the school had always been made up of a majority of other races and ethnicities. It is as if the select few minorities felt as though they needed to stand up for themselves and prove that just because there are so few of them they can still â€Å"run† the school. The three students involved, I feel, chose to leave due to feeling like they were discriminated against and treated differently than other students. They could have felt mistreated or felt that being out numbered was a disadvantage for them. Moving to surrounding schools definitely made them feel like they belonged better because I know there were mixed groups of people outside of our high school district. Being that ninety-nine percent of my school was white could have made the few students feel intimidated and make the white students angrier and feel the need to gang up on them after this incident, almost to prove their white privilege. This incident correlates to issues of citizenship and my ability to participate as a full and equal member of American society because I suffered no consequences from the incident except for a bloody nose. A bloody nose is a temporarily occurrence but because of what happened, it hasn’t affected me being a full and equal member in the American society. It has however, affected the minority students at my high school, and drove them away. As described by Evelyn Glenn, â€Å"At its most general level, citizenship refers to full membership in the community in which one lives. Membership in turn implies certain†¦reciprocal duties toward the community (37). † These black students are citizens but they do not live in a community with other African-Americans reside. They can be still be involved in the community but the families as a whole might not be as eager to get involved as they are outnumbered and may feel their voices may not be heard or make a difference. There are a few potential long term consequences of white privilege for myself that will be with me as long as I live. Being that Quinnipiac University is not very diverse, but more diverse than my high school, it was difficult to get used to seeing people of color and different ethnicities every day. I do not believe growing up in an all white community has been beneficial to me, and I wish I was more natural around people of different races and ethnicities. It is unrealistic to say that I will never have to deal with this, but in the real world, and when finding a job, you will be presented with a variety of people that may even become more of friends rather than co-workers. Someone’s accent or skin color does not determine what kind of person they are, it is their personality that makes them who they are. I also believe in regards to the incident, if I had been at fault, and was suspended for my actions of self defense, I would have not been able to attend a prestigious school such as Quinnipiac. When applying for colleges, most applications ask if you have ever been suspended, such as the Quinnipiac application which asks if you have ever been suspended or missed significant time from school. I would have then had to explain the situation and how I was suspended for self defense. If colleges see that you are a troubled student, and have a record for misbehaving, they will not accept you to their school. Community colleges of lower rankings will be more willing to accept a student with a past, rather than a private school like Quinnipiac University. Discrimination and segregation still exist today. The past makes up the present so learning about what people of all races and ethnicities went through in history is important as a citizen of the United States. Everyone, in some way, or somehow, has dealt with discrimination whether it is you or friends and family. While on the other hand, it is imperative to pay attention to your privileges and understand what it means to be American. Works Cited Barrett, James E. , and David Roediger. 2005. How White People Became White. Pg. 35-40 in White Privilege: Essential Reading on the Other Side of Racism, 2nd Ed. , Paula S. Rothenberg, Ed. New York: Worth Publishers. Glenn, Evelyn, Nakano. Citizenship: Universalism and Exclusion. Pg. 18-55 in Unequal Freedom: How Race and Gender Shaped American Citizenship and Labor. Cambridge: Harvard. Massey, Douglas S. How Space Gets Raced. Rethinking the Color Line. By Charles A. Gallagher. 3rd Ed. New York, NY: McGraw-Hill, 2007. 225. McIntosh, Peggy. 1997 White Privilege and Male Privilege: A Personal Account of Coming to See Correspondences through Work in Womens Studies. Pg. 290-99 in Critical White Studies: Looking Behind the Mirror. Richard Delgado Jean Stefancic, Eds. Philadephia: Temple University Press. Takaki, Ronald T. A Different Mirror: A History of Multicultural America. New York, NY: Back Bay, 1994. 108.

Assessment Procedures for Professional Hires Essay -- Assessment Proce

Traditionally when a job is advertised the specification has been formulated in line with one of two main concepts, person specification, stating the desired personal characteristics for the role or job description, which details the specifics of the role itself (Casio & Aguinis 2011) but it has been argued that with the rise of psychometric testing and an increasing focus on personality and behaviours, job advertisements need to evolve and incorporate the two (Cook and Cripps 2005). This is done through the process of job analysis. It is crucial to always assess the validity and reliability of job specification information (Harvey, 1991) and hard to downplay its importance as the first point of contact with candidates (Sanchez & Levine 2001). Inaccurate job specifications can be detrimental to organizational effectiveness. Imprecise job information can result in ineffective recruiting and selection practices, increased levels of turnover, low job satisfaction and decreased morale (Morgeson & Campion, 1997). Job analysis can help solidify an organisations structure by clarifying roles and expected behaviours (Casio & Aguinis 2011) and should express the organisations values and behaviours. Successful job analysis is done when it is carried out in unison between a member of the team close to the specific role in question and normally a HR professional (Cook and Cripps 2005). IBM focuses on the competency element of a job specification and thus manages to combine the two approaches. By working in conjunction with the Line Manager who is close to the job role, the HR team member or Recruiter is able to combine in the specification the required practicalities and technical ability as well as the desired personality characteristi... ... Chapman, D. S. and P. Rowe. 2002. â€Å"The Influence of Videoconference Technology and Interview Structure on the Recruiting Function of the Employment Interview: A Field Experiment.† International Journal of Selection and Assessment 10: 185-197. Huffcutt, A. I. and D. J. Woehr. 1999. â€Å"Further Analysis of Employment Interview Validity: A Quantitative Evaluation of Interviewer-Related Structuring Methods.† Journal of Organizational Behavior 20: 549-560. Lievens, F. and A. DePaepe. 2004. â€Å"An Empirical Investigation of Interviewer-Related Factors that Discourage the Use of High Structure in Interviews.† Journal of Organizational Behavior 25: 29-46. Harris, M. M. and R. W. Eder. 1999. â€Å"The State of Employment Interview Practice: Commentary and Extension.† In R. W. Eder and M. M. Harris (Eds.) The Employment Interview Handbook 369-398. Thousand Oaks, CA: Sage.

Normal distribution

Therefore, she wanted to know more about her course mates. Obviously it was difficult to contact all the students from her batch and know about them. So she decides to collect a randomly selected data from about 25-30 students. She was not sure about random collection of data. So she learnt about random number generator and used student roll numbers to select the random sample. With the help of faculty she prepared questionnaire and collected data. From the data she prepared report for submission. It was quite nice and elaborate. However, when she compared it with friends, she found lot of variation. So she decided to take information from her two friends who had also collected the similar data.Of course she has to take some precautions while using the data from the friends. A) b) c) d) e) f) g) h) Collect the data. Draw Simple Bar Diagram to represent specialization wise strength of students. Draw Pie diagram to represent the number of students in each of the blood groups. Prepare t he gender-wise frequency table for the blood groups. Plot graph of height Vs.. Weight of the students. Comment on the graph. Plot graph of family income Vs.. Expenditure of the student. Comment on the graph. Calculate gender-wise mean and standard deviation of marks of 10th and 12th standard. Comment on the basis of the results. Prepare a two way table showing age-wise and gender-wise strength of students.Represent this data with the help of a multiple bar diagram taking age on X axis and gender-wise strength on Y axis. Also comment on the basis of this graph. Prepare a two way table showing father's education and mother's education taking education categories as Below Graduate, Graduate and Post graduate. Comment on the basis of this table. Calculate mean and standard deviation of marks obtained by the students in 10th and 12th standard according to having a Job experience or not. Comment on the values you obtained. You are free to do additional analysis if you feel so. K) Note: Sa mple questionnaire is attached. However, please feel free to add few question based on your purpose.Subject: Statistics & Research Methodology (103) Case No: 04 Microchip Contract A company receives an order for five custom-made microchips at a price of $7,500 each. The company will produce the chips one by one using a complex process which has only a 67% chance of producing a defect-free chip at each trial. After five defect- free chips are produced the process will be stopped. A cost accountant at the company has prepared the following cost report: The cost of production includes a $14,800 fixed cost and a $2,XX unit variable cost. Thus if X number of chips are produced, the total cost of production would be 14,800 + 2. XX dollars. The revenue minus the cost of production will be the profit.After some analysis the finance manager of the company says that the risk may be too high and thinks the order should not be accepted. 1. What distribution will the number of chips produced, X, follow? 2. What is the expected value and standard deviation of X? 3. What is the expected value and standard deviation of the profit? 4 What is the break-even X (allow fractional values for X)? 5. What is the probability that accepting the order will result in a loss? 6. A popular measure of risk in a venture is value at risk, which is the joss suffered at the 5th percentile of the return from the venture. In this problem, find an integer x such that P[X>x] is approximately 5%. 7. For the x value found in part 6, calculate the loss, and thus the value at risk. . Express the value at risk as a percentage of the expected value of the profit. 9. What is your assessment of the risk and reward in the order? Should the company accept the order? The sales manager of the company says that the customer is very likely to agree to increase the order quantity from five to eight chips. But he is not sure whether the matter should be pursued with the customer. 10. If accepting an order of five itself is risky, will it not be even more risky to accept an order for eight? † asks the sales manager. How would 1 1 . Calculate the expected value and standard deviation of the profit for an order quantity of eight. 12.What is the value at risk for an order quantity of eight, computed in a manner similar to parts 6 and 7 above? Express the value at risk as a percentage of the expected profit. 13. Looking at the answer to parts 3,8,1 1, and 12, would you say the risk and reward have become more favorable, compared to an order quantity of five? 14. Should the company pursue the matter of increasing the order quantity to eight with the customer? * Case taken from Complete Business Statistics by Emir Cell &J. Countermanding, DATA Mac Grab Hill. Subject: Statistics & Research Methodology (103) Case No: 05 Acceptable Pins A company supplies pins in bulk to a customer. The company uses an automatic lathe to produce the pins.Due to many causes- vibrations, temperature, wear and tear , and the like-the lengths of the pins made by the machine are normally distributed with a mean of 1. 012 inches and a standard deviation of 0. 018 inch. The customer will buy only those pins with lengths in the interval 1. 00 Ð’Â ± 0. 2 inch. In other words, the customer wants the length to be 1. 00 inch but will accept up to 0. 02 inch deviation on either side. This 0. 02 inch is known as the tolerance. 1 . What percentage of the pins will be acceptable to the consumer? In order to improve percentage accepted, the production manager and the engineers discuss adjusting the population mean and standard deviation of the length of the pins. 2.If the lathe can be adjusted to have the mean of the lengths to any desired value, what should it be adjusted to? Why? 3. Suppose the mean cannot be adjusted, but the standard deviation can be reduced. What maximum value of the standard deviation would make 90% of the parts acceptable to the consumer? (Assume the mean to be 1. 012. ) 4. Repea t question 3, with 95% and 99% of the pins acceptable. 5. In practice, which one do you think is easier to adjust, the mean or the standard deviation? Why? The production manager then considers the costs involved. The cost of resetting the machine to adjust the population mean involves the engineers' time and the cost of production time lost.The cost of reducing the population standard deviation involves, in addition to these costs, the cost of overhauling the machine and engineering the process. 6. Assume it costs $xx to decrease the standard deviation by (x 11000) inch. Find the cost of reducing the standard deviation to the values found in question 3 and 4. 7. Now assume that the mean has been adjusted to the best value found in question 2 at a cost of $80. Calculate the reduction in standard deviation necessary to have 90%, 95%, and 99% of the parts acceptable. Calculate the respective costs, as in questions. 8. Based on your answers to questions 6 and 7, what are your recommend ed mean and standard deviation? Normal distribution Therefore, she wanted to know more about her course mates. Obviously it was difficult to contact all the students from her batch and know about them. So she decides to collect a randomly selected data from about 25-30 students. She was not sure about random collection of data. So she learnt about random number generator and used student roll numbers to select the random sample. With the help of faculty she prepared questionnaire and collected data. From the data she prepared report for submission. It was quite nice and elaborate. However, when she compared it with friends, she found lot of variation. So she decided to take information from her two friends who had also collected the similar data.Of course she has to take some precautions while using the data from the friends. A) b) c) d) e) f) g) h) Collect the data. Draw Simple Bar Diagram to represent specialization wise strength of students. Draw Pie diagram to represent the number of students in each of the blood groups. Prepare t he gender-wise frequency table for the blood groups. Plot graph of height Vs.. Weight of the students. Comment on the graph. Plot graph of family income Vs.. Expenditure of the student. Comment on the graph. Calculate gender-wise mean and standard deviation of marks of 10th and 12th standard. Comment on the basis of the results. Prepare a two way table showing age-wise and gender-wise strength of students.Represent this data with the help of a multiple bar diagram taking age on X axis and gender-wise strength on Y axis. Also comment on the basis of this graph. Prepare a two way table showing father's education and mother's education taking education categories as Below Graduate, Graduate and Post graduate. Comment on the basis of this table. Calculate mean and standard deviation of marks obtained by the students in 10th and 12th standard according to having a Job experience or not. Comment on the values you obtained. You are free to do additional analysis if you feel so. K) Note: Sa mple questionnaire is attached. However, please feel free to add few question based on your purpose.Subject: Statistics & Research Methodology (103) Case No: 04 Microchip Contract A company receives an order for five custom-made microchips at a price of $7,500 each. The company will produce the chips one by one using a complex process which has only a 67% chance of producing a defect-free chip at each trial. After five defect- free chips are produced the process will be stopped. A cost accountant at the company has prepared the following cost report: The cost of production includes a $14,800 fixed cost and a $2,XX unit variable cost. Thus if X number of chips are produced, the total cost of production would be 14,800 + 2. XX dollars. The revenue minus the cost of production will be the profit.After some analysis the finance manager of the company says that the risk may be too high and thinks the order should not be accepted. 1. What distribution will the number of chips produced, X, follow? 2. What is the expected value and standard deviation of X? 3. What is the expected value and standard deviation of the profit? 4 What is the break-even X (allow fractional values for X)? 5. What is the probability that accepting the order will result in a loss? 6. A popular measure of risk in a venture is value at risk, which is the joss suffered at the 5th percentile of the return from the venture. In this problem, find an integer x such that P[X>x] is approximately 5%. 7. For the x value found in part 6, calculate the loss, and thus the value at risk. . Express the value at risk as a percentage of the expected value of the profit. 9. What is your assessment of the risk and reward in the order? Should the company accept the order? The sales manager of the company says that the customer is very likely to agree to increase the order quantity from five to eight chips. But he is not sure whether the matter should be pursued with the customer. 10. If accepting an order of five itself is risky, will it not be even more risky to accept an order for eight? † asks the sales manager. How would 1 1 . Calculate the expected value and standard deviation of the profit for an order quantity of eight. 12.What is the value at risk for an order quantity of eight, computed in a manner similar to parts 6 and 7 above? Express the value at risk as a percentage of the expected profit. 13. Looking at the answer to parts 3,8,1 1, and 12, would you say the risk and reward have become more favorable, compared to an order quantity of five? 14. Should the company pursue the matter of increasing the order quantity to eight with the customer? * Case taken from Complete Business Statistics by Emir Cell &J. Countermanding, DATA Mac Grab Hill. Subject: Statistics & Research Methodology (103) Case No: 05 Acceptable Pins A company supplies pins in bulk to a customer. The company uses an automatic lathe to produce the pins.Due to many causes- vibrations, temperature, wear and tear , and the like-the lengths of the pins made by the machine are normally distributed with a mean of 1. 012 inches and a standard deviation of 0. 018 inch. The customer will buy only those pins with lengths in the interval 1. 00 Ð’Â ± 0. 2 inch. In other words, the customer wants the length to be 1. 00 inch but will accept up to 0. 02 inch deviation on either side. This 0. 02 inch is known as the tolerance. 1 . What percentage of the pins will be acceptable to the consumer? In order to improve percentage accepted, the production manager and the engineers discuss adjusting the population mean and standard deviation of the length of the pins. 2.If the lathe can be adjusted to have the mean of the lengths to any desired value, what should it be adjusted to? Why? 3. Suppose the mean cannot be adjusted, but the standard deviation can be reduced. What maximum value of the standard deviation would make 90% of the parts acceptable to the consumer? (Assume the mean to be 1. 012. ) 4. Repea t question 3, with 95% and 99% of the pins acceptable. 5. In practice, which one do you think is easier to adjust, the mean or the standard deviation? Why? The production manager then considers the costs involved. The cost of resetting the machine to adjust the population mean involves the engineers' time and the cost of production time lost.The cost of reducing the population standard deviation involves, in addition to these costs, the cost of overhauling the machine and engineering the process. 6. Assume it costs $xx to decrease the standard deviation by (x 11000) inch. Find the cost of reducing the standard deviation to the values found in question 3 and 4. 7. Now assume that the mean has been adjusted to the best value found in question 2 at a cost of $80. Calculate the reduction in standard deviation necessary to have 90%, 95%, and 99% of the parts acceptable. Calculate the respective costs, as in questions. 8. Based on your answers to questions 6 and 7, what are your recommend ed mean and standard deviation?

Ownership and Structural Forms of Business Organization

Ownership and structural forms of business organization, applicable laws, requirements for their formations, and advantages and disadvantages Type of Ownership * Single or Sole Proprietorship. It is a form of business organization which is owned by one person. The owner personally manages his business. Most of businesses in the Philippines (including those which are not registered) belong to single proprietorship. Examples are retailers, market vendors, barbers, tailors, and so forth. a) Advantages of Single or Sole Proprietorship 1) It is easy to organize. Financial capital is small, and registration requirements are not difficult to comply with. In fact, in the remote rural areas small businesses do not even bother to†¦show more content†¦The most common example of partnerships are professional partnerships, like in the case of law firms and accounting firms. Just like a corporation, it is registered with the Securities and Exchange Commission (SEC). A partnership, just like a corporation, is a juridical entity, which means that it has a personality distinct and separate from that of its members. A partnership may be general or limited. In a general partnership, the partners have unlimited liability for the debts and obligation of the partnership, pretty much like a sole proprietorship. In a limited partnership, one or more general partners have unlimited liability and the limited partners have liability only up to the amount of their capital contributions. Unlike a corporation, which survives even when a member/stockholder dies or gets out, a partnership is dissolved upon the death of a partner or whenever a partner bolts out. d) Applicable Laws Unlike corporations whose governing law is a special law - the Corporation Code of the Philippines, partnerships in the Philippines are governed by and covered under Articles 1767 to 1867 of the Civil Code of the Philippines [circa 1950]. 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Fpi Assignment free essay sample

Summary The report is regarding to the knowledge of analyzing the accounting data of a listed company, using the various accounting information that provided to identify and examine the competitiveness and efficiency of the listed company. Besides, in order to examine the reliability of the data provided, analysis of the balance sheet and income statement is required. The financial information can be obtained from the annual reports of Harbour-Link Group Berhad. In addition, the report is required to include the top-down approach which consists of Economic analysis, Industry analysis and Fundamental analysis to analyze the listed company in the point of view for investors. Table of Content 1. Introduction 1. Objectives 2. Analysis of the statement of financial position, the statement of financial performance and cash flow statement. 1. Financial Analysis ratio: Asset efficiency ratio Capital Structure ratio Liquidity Ratio Profitability Ratio Share Price 3. Economic Analysis 4. Industry Analysis . Conclusion 6. Findings 7. References Introduction In this report, Harbour-Link Group Berhad is chosen among the listed companies. Harbour-Link Group Berhad is an investment holding company which provides shipping, forwarding and transportation, plant and machinery hiring, and engineering contract services primarily in Malaysia and Singapore. Harbour-Link Group Berhad was founded in the year of 1975 and it is based in Bintulu, Sarawak, Malaysia. It was officially listed on Bursa Malaysia Securities Berhad in the year of 2004. Today, Harbour-Link Group’s success lies in its strong foundation of expertise in the industry and its ability to established the company as a reputable brand-name within the shipping, sea freight forwarding and transportation industries. Objectives 1. To identify the sources of funds, Balance Sheet and profit or loss of the Harbour-Link Group Berhad. 2. To analyze accounting data of Harbour-Link Group Berhad to examine its financial performance using Financial Performance Indicators (ratio analysis) 3. To analyze the economy status, competitors within the same industries and evaluate the operating efficiencies of the listed company. 4. To examine the competitiveness and efficiency of the listed company by using the various accounting information provided. Financial Analysis Financial analysis ratios are used to examine the financial performance of a company in which it will be reflected in the ratios calculated. (Giles et al, 1994, p. 371) Asset efficiency Ratios Asset turnover ratio From the data calculated, the asset turnover ratio for the financial year of 2008, 2009 and 2010 are 109. 9%, 92. 12% and 79. 65%. This indicates that the Harbour-Link Group Berhad is not doing well in the sales of the products or services because the asset turnover ratio is decreasing from year to year. Debtor turnover (in days) Debtor turnover is the debtor collection period of a company. Harbour-Link Group Berhad had a debtor turnover of 73 days in the year of 2008. In the year of 2009, the debtor t urnover is 77 days. However, its debtor turnover is decreased to 71 days. This reflects that the possibility of default risk for the debtors is decreasing. In fact, this is a good thing in a company. Inventory Turnover Inventory turnover measures how many times the company can sell through its inventory for each year. In the year of 2008, Harbour-Link Group has an inventory turnover of 163 times. The turnover increased to 212 times in the financial year of 2009 but the inventory turnover decreased to 127 times in the year of 2010. This reflects that the company can sell better in the year of 2009 but it dropped tremendously in the year of 2010. Capital structure Ratio Debt to equity ratio The debt to equity ratio of Harbour-link Group Berhad is decreasing from the year of 2008 to 2010 by 2%. This is caused by the reducing of total liabilities and the increasing of the total equity. Time interest earned The times-interest-earned ratio allows a lender to evaluate the company’s ability to meet its debt obligation. It is a ratio of the earning before interest and tax over the interest expenses. The time interest earned has a slightly increased from the year of 2008 to year 2009 but it has a greater decrease in ratio amount from the year of 2009 to year 2010. This means that in the year of 2010, Harbour-Link Group Berhad have lesser earnings are available to meet the interest payments and this makes the company to be more vulnerable to the increases in the interest rates. Liquidity Ratios Liquidity ratio is the ratio that is used to examine the liquidity of a company. It includes: Current Ratio Current ratio is the ratio of current assets to current liabilities. Harbour-link Group Berhad has it current ratio decreasing from the year of 2008 to 2010. Its current ratios are 1. 90, 1. 76 and 1. 57 respectively. The ratio is decreased by 14% and 19%. The data is calculated as shown in the findings. Liquid Ratio Liquid ratio is the ratio of (current assets-inventory) to (current liabilities-bank overdraft). Harbour-Link Group Berhad has borrowings so there is bank overdraft existed and that’s why it is classifies as a debt financing organization. The company has a higher liquid ratio of 2. 34 in the year of 2010 compared to the year of 2008 and 2009 which is 1. 88 and 1. 75 respectively. The liquid ratio of the 3 financial years exceeded 1 and this indicates that the current assets are greater than the current liabilities. Higher liquid ratio reflects better performance of the company. Net working Capital Net working capital is the difference between current assets and the current liabilities. In the three financial years, Harbour-Link Group Berhad has the highest net working capital of RM 51. 4 million in the year of 2008. The figure of net working capital for Harbour-link Group Berhad decreased in the year of 2009 and 2010 by 0. 43% and 12. 32% respectively. This shows that there is a drastic drop in the net working capital of year 2010. Profitability Ratios EBIT to total funds ratio EBIT to total funds ratio of Harbour-Link Group Berhad is decreasing in the range of 22% from the financial year of 2008 to 2009 and 21. 4% from the financial year of 2009 to 2010. The total funds consist of shareholders’ funds and borrowings. According to the annual report, Harbour-Link Group Berhad is practicing debt-financing to raise funds because there is borrowing existed. Return on Equity (ROE) Harbour-link Group shows a decrease in net income from year 2008 to 2010. This situation leads to the decrease in the return on equity (ROE) of 5%. In the financial year of 2010, it has the ROE of 0. 08 which indicates that for every RM1 of the capital that the shareholder invested into, they will get 8% of return. Return on Assets The return on assets measures the productivity of assets in terms of the level of profits each dollar of assets generates. (Karen D. H, 2004, p. 131) The return on assets of the Harbour-Link Group Berhad is decreasing from the financial year of 2008 to 2010. It decreased from 8% of year 2008 to 7% in the year of 2009 and then 5% in the year of 2010. This implies that the productivity of the company’s assets is not doing well in terms of profits that the assets generated. Net Profit Margin The net profit margin is the ratio of net profit after tax to the total revenues. In the financial year of 2008 and 2009, Harbour-Link Group Berhad has the net profit margin figure of 8%. It indicates that the company has a net income of RM0. 08 for each RM1 of sales. However, the net profit margin for the year of 2010 decreased by 2% which is only 6% in the financial year. This shows that for every RM1 of sales made by the company in year 2010, the net income is only RM0. 6 which is RM0. 02 lower than the previous year. Share Price Price to Earnings Ratio (P/E) Price to Earning ratio is calculated by using the share price of the year 2010 over the earnings per share. The market price of Harbour-Link Group Berhad was amounted to RM 0. 72 in the year of 2010. From the annual report of the financial year of 2010, the earning per share is R M 0. 11. By using the formulae, the price to earning per share of 2010 is calculated as shown in the table with a figure of RM 6. 825. Current Economic Analysis Roots of Global financial crisis Global financial crisis are usually caused by bad regulation of the banking sectors, failure of fiscal and monetary policy implemented and so forth. In the year of 2008, Financial crisis began with the declared of bankruptcy of Lehman Brothers Holdings Inc. which is the fourth largest investment bank in United States. It was a severe ongoing world financial problem that began in U. S in the year of 2008. This recession has entirely hitting on the fragile global economy with the tremendous devastation in countries all around the world. The U. S government was trying to point the finger of the financial crisis to the rating agencies, who knew about the great risk that was coming but kept giving high reliability ratings to companies that did not deserve them and thus investors invested in the wrong companies. The cause of the bankruptcy of Lehman Brothers Holdings Inc was the accumulation of debt and the increasing of loan defaults. Why it evolved into a world crisis The news on bankruptcy of Lehman Brothers Company led to the drastic fall in the share price all over the world. The company had billions of dollars losses incurred in the mortgage market of United States. (BBC NEWS, 16th Sept 2008) In Lehman Brothers’ case and the other investment banks, the problem was provoked by 2 major factors which are the very high level of leverage ratio and the dependence on short-term debt financing. Commercial banks cannot leverage their equity more than 15 to 1 as they are regulated but for Lehman Brothers Company, it had a leverage ratio of more than 30 to 1. According to the table 1, Lehman Brothers had only $3. 30 of equity for every $100 of loans. With this ratio, it makes the company to be insolvent. Conversely, the instability arose from the leverage problem was aggravated by the strong reliance on the short term debt. Based on table 1(Lehman Brothers Liabilities and shareholder’s equity), at the beginning of the crisis, the company financed greater than 50% of the assets. Reliance on short term debt financing is profitable indeed when it comes to a low interest rate market environment. However, when the company faced rumors of the insolvency problem, the short term lenders will start to have doubt on the company’s performance and therefore, they will start to withdraw their funds from the company for self interest protection. This scenario will lead to a shortage of liquidity for the borrower and thus the company tends to default. After the crisis began, Lehman Brothers did try to decrease its leverage and reduce its dependence on the short term borrowing but it was too late for them to amend the situation and therefore, bankruptcy occurred. The bankruptcy of Lehman’s brother forced the reassessment of risk in the market by looking at the price of the credit default trades. Impact on Malaysia and world economies The crisis started in the year of 2008 had a great hit on Malaysia and world economies. It causes the gas price had a drastic drop, decreasing of the value of real estates, the increasing of unemployment rate, Federal debt crisis and inflation. There is a global explosion in commodities price. The price of crude oil was remaining at high levels for few years till the end of 2008, the crude oil price dropped from the peak in July 2008 of US$145 to US$30. 28 per barrel in December 2008. (Forbes, 2008) According to the findings in table 2, the unemployment rate of Malaysia increased by 3. 13% from the year of 2008 to 2009 and 12. 12% from the year of 2009 to 2010. Malaysian future economic At first, Malaysia was aiming to have 9% of average annual Growth Domestic Product (GDP) until 2020. Suddenly, according to the Economic Planning Unit, the government noted that the number is absurd then they changed and told that Malaysia was capable to achieve 5. 4% of Growth Domestic Product (GDP) annually over the next 10 years to achieve the objective of becoming a high income economy by 2020, which is the vision 2020 (East Asia Forum, 2009). These seem that Malaysia’s economic future is uncertainty. It keeps changing. Besides, Malaysia’s government has a close relationship with its private businesses. Because of the relationship with some business groups have ostensibly led to the emergence of political cronies with unlimited access to public resources. Not only the relationship that mention above but also the experience of neighbouring Indonesia shows that it is a dangerous trend that could negatively affect economic development in the future. In this matter, changes in political leadership led to unstable political environment. Although it does not directly effect on Malaysia, it threatens he influx of refugees caused damage regional stability and social stability. Malaysias maritime economy can be defined as the production and manner of use of the range of goods and services that are linked to the maritime sector (Abdul Aziz Abdul Rahman, 1997). It covers the activities that are resource based, including fisheries, oil and gas, marine biotechnology and those that are service based such a s shipping ports, shipbuilding and repair and the myriad range of ancillary maritime services (Maritime Institute of Malaysia,2005). Malaysias main concern is the future of marine economy of the future of Malaysian trade, because the countrys foreign and domestic trade, or even almost totally dependent on sea transport facilities. From this we can know that it will have a very bright prospect in maritime economy. If Malaysia is to achieve the goals of industrialization, productivity-driven growth and enhancing competitiveness will depend on how the maritime sector is managed. The maritime sector has a main role to play in enhancing productivity-driven growth. An important element that will affect efforts to sustain international competitiveness is productivity. But, for longer term, Malaysia will need to maintain its international competitiveness, since there is rising competition from other emerging markets for Foreign Direct Investments (FDIs) and for the transfer of modern technologies. Environmental issues are also important for Malaysia in the longer term as deforestation and global climate change may destabilize the countrys agriculture, which still plays an important role in the national economy. What is the most important is the political will effect a change to system-centred thinking in planning the future of the economy. So, a stable political environment is very important to Malaysia. If the political environment of Malaysia is good, it will have a bright future of economy. Solutions to the Global Financial Crisis or crises in general. Banks and financial institutions can cause a downswing of an economy because of their ignorance of the business cycle. Besides, bankers are greedy with the fat bonuses that they will gain if they get the highest market shares results. When the economy is doing well, they expect that there will be no recession problem is going to occur and therefore they will give loans to their customers without considering their customers’ affordability to repay the loans. Once their customers cannot afford to repay the loans, recession will occurs. To overcome these crisis problems, several steps can be used. Government and bankers often intervene to smooth the peaks and valleys of the economic cycle. There are two objectives that the government and bankers can do to prevent serious downswing of an economy. 1) Speedy intervention to prevent a self-perpetuating downward spiral, which means protecting depositors at minimal long term cost to the taxpayer. For example, the Federal reserve may restrict the money supply in good times to slow the expansion phase of the economic cycle, or deficit spend and cut interest rates to ease the recessionary phase of an economic cycle. 2) Ensure so far as possible that future booms are less exaggerated. This has implications for the form of any rescue package, and for the system of financial oversight that is put in place. The growth of consumer credits will increase the consumption of the consumer. The increase in the consumption will increase the aggregate demand of the country whereby AD equals to C + I + G + (X-M). Mc Taggart et al, 2007 p. 766). When the AD is increasing, it means that GDP is also increasing. This shows that the consumer credits provided will also be increased and therefore people will keep on borrowing money from the banks for consumption. This situation actually can amplify the business cycle and extend the upswing of the economy. Industry analysis The domestic and the world economy were in a downturn in the year of 2009. All the industry was affected and they are making an effort to maintain their previous performance and growth momentum. In the year of 2009, Harbour-Link Group Berhad suffered revenue declined by 5. 9% to RM 327. 6 million. The revenue decreased again by 5. 76% to RM 308. 7 million compare to the previous year due to lower selling prices and softer consumer demand. One of the Company competitors, Swee Joo Berhad was also suffered by achieved a turnover of RM 346. 7 million which is 9. 9% lower than the previous financial period. The lower turnover was also impacted by the recovery state for the economy. Swee Joo Berhad has a reduce in current ratio from 0. 648 to 0. 278 which seems to be lower than that of the Harbour-Link Group Berhad and therefore Harbour-link seems to have a better current ratio. Swee Joo Berhad has a negative figure for its Earnings before interest and tax of -11. 32 million and -176. 82 million in the year of 2009 and 2010. This is a huge loss for the company. It shows that Harbour-Link has a better performance than its major competitor, Swee Joo Berhad. Although the economy showed signs of recovery, but most of the economists hold that the sustained global recovery is still vague. This situation greatly influenced the consumers spending behavior. According to the Edge, Harbour-Link Unit obtained the secured contracts of RM75. 2 to supply gantry cranes for the Bintulu Port Sdn Bhd. The contracts were expected to be done in the year of 2012 and it’s also expected to escalate the future revenue and earnings positively for Harbour-Link Group Berhad. (The Edge, 11 April 2011) There are several ways for the companies to perform better during this hard period. However, the suppliers are also important causes which will affect the company performance. Although Harbour-Link Group Berhad suffered lower revenue during the year, however, it obtained quite a number of big projects with a favorable amount of contracts worth which is believed to boost the revenues for the future of the company itself. This scenario will assist Harbour-Link Group Berhad to create a stronger visibility and allow it to be well positioned for the economic recovery. Findings [pic] Table 1 shows Lehman Brothers Liabilities and Shareholders’ Equity Source: Lehman Annual Reports |Year |Unemployment Rate |Percentage Change | |2006 |3. 60 | | |2007 |3. 50 |-2. 78% | |2008 |3. 20 |-8. 7% | |2009 |3. 30 |3. 13% | |2010 |3. 50 |12. 12% | Table 2 shows the unemployment rate in Malaysia Source: CIA World Factbook Conclusion In conclusion, although the Harbour-Link Group Berhad has a downturn in its overall performances in the financial year of 2009 and 2010 as the results shown in the findings, but it has a better performance than its main competitor, Swee Joo Berhad in the shipping industries. The Harbour-Link Group Berhad is overall well organized in its financial statements as shown in the annual reports and it can be categorized as a profitable and successful listed company in Malaysia. On the perspective of investors, Harbour-link is counted as a good investment company and therefore investors are advised to consider Harbour-link Group Berhad as one of their investment company because the company has a good expectation to have a huge increase in its future economic benefits. The future economy of Malaysia is expected to have a good return and therefore this ensure that Harbour-Link Group Berhad is a wise investment for the future benefits. References Abdul Aziz Abdul Rahman, 1997, The Maritime Economy of Malaysia, Pelanduk Publication BBC News, 16 September 2008, http://news. bbc. co. uk/2/hi/business/7615931. stm Bursa Malaysia 2010- Equities, Bursa Malaysia Berhad, viewed on 26 April 2011 http://www. bursamalaysia. com/website/bm/market_information/prices/ East Asia Forum, Malaysia’s Economic Future, view on 1 May 2011, http://www. eastasiaforum. org/2009/11/24/malaysias-economic-future/ Encyclopedia of the Nations, Malaysia- Future Trends, viewed on 2 May 2011, http://www. nationsencyclopedia. com/economies/Asia-and-the-Pacific/Malaysia-FUTURE-TRENDS. html Forbes 2008- Crude Oil Prices 1861 – 2009, Forbes. com 2010, viewed on28 April 2011, http://www. forbes. com/2008/05/13/oil-prices-1861-today-real-vs-nominal_flash2. html Giles, R Capel, J 1994, Finance and accounting, 3rd Edition, MacMillan, London Harbour-Link Group Berhad 2011, harbour. com. my; Total Logistics EPCC Provider N. V 20092010, Harbour-Link Group Berhad, viewed on 22 April 2011, http://www. harbour. om. my/ Karen D. Halpern, 2004, Understanding Finance: Money, Capital and investments, Pearson, New Jersey. Maritime Institute of Malaysia, Malaysia and Port Competitiveness, 2005 Mc Taggart et al, 2007, Macroeconomics, 5th Edition, Pearson, Australia The Edge Financial Daily, 11 April 2011 viewed on 24 April 2011. http://www. theedgemalaysia. com/ The Star Online 2011- Market watch, Star Publica tions (M) Berhad, viewed on 24 April 2011, http://biz. thestar. com. my/marketwatch/charts/l. asp? code=2062~HARBOURp1=0. 99p2=0. 985p3=0. 99p4=0. 985p5=0. 99p6=0p7=0. 00p8=915p9=0. 532