Financial Management Essay Example | Topics and Well Written Essays - 2000 words - 4

Financial Management - Essay Example This paper aims to explore the importance of managing foreign exchange risks as well as the methods of managing it that most multinational companies employ. Also, by analysing the practices of two companies when it comes to managing foreign exchange risks in line with good academic practices, certain recommendations with regard to risk management practices for a fast-growing listed company in the UK can be proposed in the process. In this age of globalisation, many companies conduct businesses in countries other than their own. With opportunities in new markets come various types of risks—business risks, macro environmental risks, as well as foreign exchange risks (Pattichis et al. 2004). When a company conducts a business outside the country where it is based, the company is said to be exposed to some foreign exchange risks, where the fluctuations in the differences between the home countrys currency and the host countrys currency may result in adverse impacts in the companys income from international operations, as well as its balance sheet. Companies need to protect themselves from these risks; a drastic change in the exchange rate between the home countrys currency and that of the host country can result in significant gains or losses (Nazarboland 2003). Aside from this, those which are otherwise very profitable international ventures of the company, due to fluctuations in the foreign exchange rate, may seem to be a losing business. For companies that have significant foreign direct investments across the globe, in order to assess more accurately the performance of their international subsidiaries, managing the foreign exchange risk is very important (Collier et al. 1990). Also, these differences will have a significant effect on the parent companys reported earnings as well. When companies have investments outside their home countries, these investments are usually exposed to foreign

The Meaning And Purpose Of Life Religion Essay

The Meaning And Purpose Of Life Religion Essay First of all life is the mostly cherished thing in the world, if we can call it a thing, as everything that people have, everything that they feel and experience is life itself. Questions like what is the meaning and the purpose of life are really hard to answer straight away; it takes time to think about it. Moreover it really has been the single ultimate question from the creation of earth and mankind. Every person for a moment or two in his life had to think what is the meaning and purpose of life, why am I here? I think that it is hard for people to believe in any kind of purpose that we have in our lives, as people dont believe in eternal life, why should they believe in the purpose of life? It is true that when a person is young and full of energy he doesnt really bother of thinking about the purpose of life, and what will happen to him after his death, because he forgets about it completely. As people grow older they think of their life more and more, of what they have already done, and what is still missing. Nobody wants to live an empty life, without reaching any goals, something that we would be proud in the end of our life. If people have a purpose of life, they have something that they want to achieve and reach, so it makes the life that much interesting and fuller. It can also show the way how to live for people, serve as a guide in the labyrinth of life. Like the great ancient Roman stoic philosopher Lucius Annaeus Seneca said: Our plans miscarry because they have no aim. When a ma n does not know what harbor he is making for, no wind is the right wind. http://quotationsbook.com/quote/17170/ The great philosopher had a great point there, as people do need to have an aim to have some kind of a target for their life, to reach something. Another important fact of the purpose of life is religious and spiritual side of peoples lives. All in all it was God almighty that created the Earth and mankind, so religion and belief must exist and take a very important part in a persons life. If there were no Creator, if humans were just products and results of an ordinary system, as many in the world today assert, there would be no purpose in life. Each individual human being would strive simply to live their life with as much pleasure and as little pain and suffering as possible. Life should be seen as an eternal process of an endless spiritual discovery and growth: in the beginning stages of earthly life, the individual undergoes a period of training and education which, if it is successful, gives that person the basic intellectual and spiritual tools necessary for living his life successfully. When individuals attain physical maturity in adulthood, they become responsible for their further progress, which now depends entirely their own efforts and skills. Through the daily struggles of material existence, people gradually deepen their understanding of the spiritual principles underlying reality, and this helps them to relate more effectively to themselves, to others, and to God. http://www.allaboutworldview.org/Meaning-Of-Life.htm Yet, different people have different purpose of life. Ones think that self-realization is the purpose of life, others think that it is memories that you leave after you die, and another group of people think that consuming and pleasure is the main purpose and goal of their life. There are still more things on the list of what do people include in the purpose of life, but some are really mistaken. Life can be compared to a school as people always learn in it, and come to this school to educate their souls. And some make an emphasis on the fun and games just like children do, while others put all their attention on the studying, and the meaning of life is so much clearer for them. Education of the soul consists of clear life-style, striving to help others, to reach the set goals, and live in harmony with God, so that people would have as little regrets for himself near the end of his life as possible. Of course we all know, there is no such thing as an ideal life, an all people make mi stakes, and think about the past, wanting to change a lot of things. But that is life, and you have to move on, perhaps trying to make up for the mistakes made in the past by good deeds in the future. http://www.allaboutworldview.org/Meaning-Of-Life.htm But how to rate a life, did people achieve their goal to reach the purpose of their life? The only time that a person can think back on all his deeds, and not do anything more is the moment before his death. The meaning of an activity is graded by the result of the activity itself. That same thing can be said about our life, which meaning we can view after death. If we are lost in our life, and cant find the meaning and purpose of it, we can take a completely different perspective-death. We can look at our life if we would be gone now, that of course sounds creepy but it might open our eyes on many things that are there, and need to be done before we go. As for me, I am still young and questions like purpose of life, death and so on dont really bother me that much. But I do set clear goals for my life, putting them into priorities, from important to less important. And although it is very hard, but I try to put fun into a small box, that needs to be open vary rarely, only after the big boxes are emptied.

Arthur Miller Essay -- essays papers

Arthur Miller Arthur Miller, in his plays, deals with the injustice of society's moral values and the characters who are vulnerable to its cruelty. A good majority of these plays were very successful and earned numerous awards. According to Brooks Atkinson, a critic for the New York Times, Miller's play Death of a Salesman was successful because the play "is so simple in style and so inevitable in theme that it scarcely seems like a thing that has been written and acted. For Mr. Miller has looked with compassion into the hearts of some ordinary Americans and quietly transferred their hopes and anguish to the theater" (Babusci 1261). This play, in 1949, received the Pulitzer Prize, the New York Drama Critics Circle Award, the Antoinette Perry Award, the Donaldson Award, and the Theater Club Award (A Brief Chronology of Arthur Miller's Life and Works, http://www.ibiblio.org/...). Miller has said that he could not have written The Crucible at any other time for it is said that a play cannot be successful unless it speaks to its own time; hence McCarthyism was widespread when this play was written. Everyone was afraid of Communists, just like everyone was afraid of witches during The Crucible. This play won the Antoinette Perry Award and the Donaldson Award (Bloom, Modern Critical Interpretations: Arthur Miller's The Crucible 55). His play All My Sons was concerned with a man, Joe Keller, selling defective cylinder heads to the Air Force during World War II, causing the death of twenty-one pilots, one of whom was his elder son. The play focuses around this act and the consequences that arise from it. The play won the New York Drama Critics Circle Award. All of Miller's plays focus on one central idea, this idea being ... ...ct even though he was genuinely unable to visualize the public consequences of what for him was a private act. From an ethical standpoint he feels like he did nothing wrong, for "it is not that he cannot tell right from wrong but that his cast of mind cannot admit that he, personally, has any viable connection with his world, his universe, or his society" (Bloom, Modern Critical Interpretations: Arthur Miller's All My Sons 104). He believes that "family is the most important thing and that what is done in the name of family has its own justification" (Bloom, Modern Critical Interpretations: Arthur Miller's All My Sons 28). "I did it for you, it was a chance and I took it for you. I'm sixty-one years old, when would I have another chance to make something for you?...For you, a business for you!" (Bloom, Modern Critical Interpretations: Arthur Miller's All My Sons 65).

A Short Essay about ERP

Paper 1 by steven ERP is short for enterprise resource planning which is designed to improve both external customer relationship s and internal collaborations by automating tasks and activities that streamline work process, shorten business process cycles, and increase user productivity. ERP software integrated all facets of an operation, including product planning, development, manufacturing processes, sales and marketing. In this short essay, three ERP application softwares from Oracle, Epicor and Netsuite were compared separately in the form of diagram:Product name Oracle ERP(E-business suite) IntroductionOracle ERP is the core software of Oracle E-Business Suite and Oracle EBS is a set of total solution that is based on ERP (Enterprise Resource Planning), with the system extended to the customer end, supply chain end and high-level decision support system, which can be called ERP II. Besides including the traditional ERP, which is at the core of the enterprise, Oracle ERP integra tes CRM (Customer Relationship Management), SCM (Supply Chain Management and BI (Business Intelligence). During the ERP project implementation process, the enterprise can best re-engineer itself. With the introduction of the ERP project, the enterprise can inspect various process flows yet again, adjust them to fit in the requirement of future operations and realize those in the system. With the non-stop evolution of the enterprise, the ERP system will have to stay tuned to offer the necessary enterprise operation competitiveness. StructureDevelopment model On premise Server platform Windows Linux Industries Aerospace Automotive Chemical Construction Consumer products Defense Manufacturing Ohter Benefits1. Achieve an end-to-end viewpoint across all business lines 2. Drive performance with consistent financial and operational information 3. Provide every employee with relevant, complete information tailored to his/her role 4. Global operation with local foothold5. Extend global busin ess processes with application integration architecture 6. Non-stop support for your global operations 7. Protect the value of existing investments 8. Extend the value of current applications 9. Help to evolve to the next generationProduct name Epicor ERP Introduction Epicor has over 33,000 customers in over 150 countries and delivers solutions in more than 30 languages. It primarily serves mid-market firms and subsidiaries of major corporations, and is particularly well-suited to companies with 100+ employees. It is used by companies in a wide range of industries including manufacturing, distribution, services, retail and hospitality. StructureDevelopment model On premise SaaS /Online Server platform Windows Linux Cloud Industries Aerospace Automotive Chemical Construction Consumer Products Defense Electronics Engineering Manufacturing Medical Benefits1. Capability: Manage every aspect of your business by taking advantage of powerful features and industry-specific solutions 2. Visi bility: Using a single platform, data is shared across your entire business giving you the visibility and insights you need for effective decisions 3. Efficiency: Streamline your many and varied business processes, reduce manual activities and re-work, and tap into real-time information. 4. Scalability: Provides a strong platform for growth, supporting your business as you grow all the way to the top of the mid-market and above 5. Confidence: Be reassured by over 40 years experience, flexible service-oriented architecture, 24/7 global support, and a large installed base.Product name NetSuite ERP Introduction NetSuite ERP is the world’s most deployed cloud ERP solution. It provides proven financial management and ERP that easily integrate with your broader sales and service processes StructureDevelopment model SaasS/Online Server platform Cloud Industries Manufacturing Non-Profit Retail& Wholesale Service Software Other Benefits 1. Accelerates the order-to cash process by 50%+ 2. Slashes the financial close with real-time reporting 3. Strengthens procurement with approvals and vendor management 4. Improves employee management through self-service 5. Drives decision making with personalized dashboards 6. Improves accountability and compliance with strong traceability 7. Reduces IT costs and delivers automated ERP upgrades 8. Elevates productivity with anytime, anywhere accessFrom the diagram, some facts and information are gathered and listed above. I would recommend NetSuite ERP for the retail industry. The reasons are as follows: As the retail industry, some features give rise to the choice of NetSuite ERP. One feature is that the retail industry has more complicated CRM, inventory and financial management compared with other industries. It faces the terminal buyer directly and needs the instant reaction and update of all the relevant information so as to ensure the normal function of the whole retail system.While, NetSuite has a comprehensive offering of could-based solutions to link every step of a multi-channel retail business. Beside, NetSuite ERP’s cloud server platform means lower costs which also can the reason to choose NetSuite. Furthermore, by checking the benefits of each application software, it’s easy to find that NetSuite is obviously the best choice with more concentration and customization on retail industry.

Unconventional Medical Approaches

Overview of Complementary, Alternative and Integrative Medicines Aside from the conventional medical practice, there are also complementary medicine together with alternative and integrative medicines that can help the suffering individual alleviate their pains and health problems.The National Center for Complementary and Alternative Medicine (NCCAM), National Institutes of Health has defined complementary and alternative medicine (CAM) as â€Å"a group of diverse health care and medical systems, practices and products that are not presently considered to be part of the conventional medicine† (House Select, 2006 p.10). It is very important to note, however, that Complementary medicine alone is very distinct from alternative medicine alone. According to the NCCAM: Complementary medicine is applied jointly with the conventional medicine such as the use of aromatherapy in reducing the patient's pain after undergoing a surgery while alternative medicine is applied as a substitute for conventional medicine such as the use of special diet to treat cancer instead of following the physician’s recommendation to undergo surgery or chemotherapy.Integrative medicine, on the other side, is a combined â€Å"mainstream medical therapies and CAM therapies for which there is some high-quality scientific evidence of safety and effectiveness. † (What is CAM? , 2007). II. How CAM Flourished in the United States? Due to beliefs by some millions of Americans that conventional medicine alone is not enough, CAM has gained its footing in the United States (U. S)Aside from this reason, it was found out, through the survey conducted in 2002 by Advance Data From Vital and Health Statistics, that the growth in CAM usage among Americans are attributed to one or more of the following factors: marketing forces, on-line information availability, patients’ desire to be actively involved with their medical and health decision making, and patients’ general dissa tisfaction with the conventional medical applications (Barnes, P. , E. Powell-Griner, K. McFann, and R. Nahin, 2004, p. 1) With these identified growth and popularity factors for CAM, the survey has identified major reasons for such usage.