Book Report: The Obsidian Blade Essay

personal finances Essays - Economy, Finance, Money, Personal Finance

1 - Financial Position: this territory is worried about understanding the individual assets accessible by inspecting total assets and family income. Total assets is an individual's accounting report, determined by including all benefits under that individual's control, short all liabilities of the family unit, at one point in time. Family income aggregates up all the normal wellsprings of pay inside a year, short totally anticipated costs around the same time. From this examination, the monetary organizer can decide to what degree and in what time the individual objectives can be cultivated. 2 - Adequate Protection: the examination of how to shield a family from unexpected dangers. These dangers can be isolated into risk, property, demise, incapacity, wellbeing and long haul care. A portion of these dangers might act naturally insurable, while most will require the acquisition of a protection contract. Deciding how much protection to get, at the most practical terms requires information available for individual protection. Entrepreneurs, experts, competitors and performers require specific protection experts to sufficiently ensure themselves. Since protection likewise appreciates some tax reductions, using protection speculation items might be a basic bit of the general venture arranging. 3 - Tax Planning: ordinarily the annual assessment is the single biggest cost in a family unit. Overseeing charges isn't an issue of on the off chance that you will make good on charges, yet when and how much. Government gives numerous impetuses as expense reasonings and credits, which can be utilized to decrease the lifetime taxation rate. Most present day governments utilize a dynamic expense. Normally, as your salary develops, you pay a higher minor pace of assessment. Seeing how to exploit the heap tax cuts when arranging your own funds can have a huge effect upon your prosperity. 4 - Investment and Accumulation Goals: arranging how to aggregate enough cash to procure things with a significant expense is the thing that the vast majority consider to be monetary arranging. The significant motivations to gather resources is for the accompanying: a - buying a house b - buying a vehicle c - beginning a business d - paying for instruction costs e - aggregating cash for retirement, to create a surge of pay to cover way of life costs. Accomplishing these objectives requires anticipating what they will cost, and when you have to pull back assets. A significant hazard to the family in accomplishing their collection objective is the pace of cost increments after some time, or swelling. Utilizing net present worth mini-computers, the monetary organizer will recommend a mix of advantage reserving and normal reserve funds to be put resources into an assortment of ventures. So as to defeat the pace of expansion, the speculation portfolio needs to get a higher pace of return, which ordinarily will expose the portfolio to various dangers. Dealing with these portfolio dangers is regularly practiced utilizing resource allotment, which looks to enhance venture hazard and opportunity. This advantage portion will endorse a rate distribution to be put resources into stocks, securities, money and elective ventures. The assignment ought to likewise think about the individual hazard profile of each financial specialist, since chanc e mentalities differ from individual to individual. 5 - Retirement Planning: retirement arranging is the way toward seeing the amount it expenses to live at retirement, and thinking of an arrangement to disperse advantages for meet any salary setback. can leave your advantages for family, companions or beneficent gatherings.

When to Sell Your Business

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Theme, Theme And Themes InBattle Royal, By Ralph Ellison

An author uses setting, character, plot, theme, language, and point-of-view to express their thoughts into their writing, and as a reader, one perceives what they write. Each characteristic of a story further develops the ideas differently. The setting of a story can develop the idea further with the time frame of the story, giving the reader a historic background; whereas the language can distinguish the mood and tone of the story. By looking at all these elements of a story, people are able to find a central idea of a piece. In â€Å"Battle Royal,† Ellison expresses the idea of segregation throughout the story, mainly focusing on the social responsibility of the whites and blacks with the conflicts that take place, externally and internally.†¦show more content†¦The protagonist is finally seeing an environment around him where his grandfather is right. The protagonist uses the grandfather’s advice to then write a speech. In the short story â€Å"Battle Royal,† the narrator is then invited to read his speech to the leading white citizens at the hotel ballroom. It is at this event where everything changes. As the narrator arrives, he expects to give his speech, but in reality, he shows up to a battle royal. At the battle royal, the white men trick the blacks with fake coins. The protagonist had a decision to make: follow what he is told by the white citizens, or stand up for his rights. In the short story: â€Å"[The protagonist] lunged for a yellow coin lying on the blue design of the carpet, touching it and sending a surprised shriek to join those around me. [He] tried frantically to remove my hand but could not let go. A hot, violent force tore through [his] body, shaking [him] like a wet rat. The rug was electrified. The hair bristled up on [his] head as [he] shook [himself] free. [The narrator’s] muscles jumped, [his] nerves jangled, writhed† (Ellison 1217). This quote represents the chaos that went on in the hotel ballroom. The black men were tricked by the white people with coins on an electrocuted rug. As they picked up a coin, they would get electrocuted. The blacks were not expecting the torture they had went through. As the blacks were being tortured, the whites just sat there laughing; it was all just a

The Battle Of The Cold War - 1450 Words

The battle in ideologies between communism and capitalism lead to one of the greatest conflicts of the twentieth century. The concept that freedom and democracy would not survive under communist rule triggered a battle that could endure for decades. American media significantly impacted the attitudes of Americans, creating a hatred of communism to spread throughout the nation. The political relations in Europe, during and directly after World War II, played a large part in laying the foundation for the Cold War. Wartime seminars, like Yalta and Tehran, only harshened the relationship involving the communists and the capitalists. By the end of World War II, American policy towards the Soviets had transformed drastically, along with the change of president in 1945, which further caused relations with Russia to worsen. Additional contributions to the Cold War included the Truman Doctrine and the Marshall Plan. The section of Europe, between the west and east, drew on physical bor ders outlining that the war of misinformation had formally commenced. The waging of hot wars through other countries also strengthened Cold War hatred. The first of the Cold War tensions arose out of World War II conferences between the Soviet Union, America and Great Britain. Tehran, the first major conference and the one that lead America to start the Cold War, included all three of these nations. At this conference, the reshaping of post-war Europe was discussed, then later in February ofShow MoreRelatedThe Battle Of The Cold War955 Words   |  4 PagesWorld War II between the United States and the Soviet Union came a time period full of mistrust and deceit. By the end of the Second World War, the United States and the Soviet Union became increasingly suspicious of one another, and their relations resulted in being unstable. 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Bajaj Case Study Free Essays

string(41) " founded by Jamnalal Bajaj in the 1930s\." Financial Management at Bajaj Auto Bajaj Auto Limited is one of India’s largest two-wheeler manufacturers. As the dominant player until the early 1990s, Bajaj’s market share declined from 49. 3% in 1994, to 38. We will write a custom essay sample on Bajaj Case Study or any similar topic only for you Order Now 9% in 1999 with the entry of major competitors like Hero Honda. Bajaj has initiated several measures to regain its market share and strengthen its competitive position. The case discusses the financial strategy pursued by Bajaj. Financial Management at Bajaj Auto We want to get back the leadership position in the two-wheeler segment and will use the cash if required to do so. However, in current volatile market conditions (not to forget the Japanese and their huge cash reserves), we would rather have the security of cash any day. We are competing not only with Indian companies, but also with large foreign two-wheeler companies, many of whom have much deeper pockets than ours. While our surplus cash will assist us in future growth, it also acts as a deterrent to others from indulging in predatory pricing tactics – Sanjiv Bajaj, Vice-President Finance, Bajaj Auto Limited. 1 Introduction In 2003, Bajaj Auto Limited (Bajaj) was one of India’s largest manufacturers of both two and three-wheelers. The three-wheelers, also known as autorickshaws, were unique to the South Asian region. The company recorded revenue of Rs. 5125. 73 crores representing a 13% increase over the previous year 2. Once the unchallenged market leader, Bajaj trailed Hero Honda in the late 1990s. Bajaj’s market share declined from 49. 3% in 1994, to 38. 9% in 1999. 3 Thereafter, Bajaj had initiated several measures to regain its market share and strengthened its competitive position. In 2003, Bajaj had a workforce of 12,000 employees and a network of 422 dealers and over 1,300 authorised service centers. 4 The Indian Two-Wheeler Industry Two-wheelers had become the standard mode of transportation in many of India’s large urban centers. Use of two-wheelers in the rural areas had also increased significantly in the 1990s. The birth of the Indian two-wheeler industry could be traced to the early 1950s, when Automobile Products of India (API) started manufacturing scooters in the country. While API initially dominated the scooter market with its Lambrettas, it was Bajaj which rapidly emerged as the unchallenged leader in the scooter industry. A number of government and private enterprises who entered the scooter segment, had disappeared from the market by the turn of the century. The License Raj that existed prior to economic liberalization (1940s-1980s) in India, did not allow foreign players to enter the market, making it an ideal breeding ground for local players. But the Raj also hurt the growth of the industry by imposing various restrictions. In the mid-80s, the government started permitting foreign companies to enter the Indian market, through minority joint ventures. During this period, the twowheeler market witnessed a boom with Japanese players like Honda, Suzuki, Yamaha and Kawasaki, entering the market through joint ventures. 1 2 3 4 M. Anand, ? Is Munjal Being Too Generous Businessworld, 19th May 2003. B1 Source: Prowess Database. Gita Piramal, Sumantra Goshal and Sudeep Budhiraja, ? Transformation of Bajaj Auto Ltd,? Lessons in Excellence Case Contest, www. thesmartmanager. om, February-March, 2003. Source: Bajaj Auto Limited Annual Report 2003. 109 Financial Insights Figure (i) Indian Motorcycle Market Source: Honda Annual Report 2003. Foreign players quickly changed the rules of the game. From a supplier’s market, it became a buyer’s market. Companies tried to outdo each other in terms of style, price and fuel efficiency. The technological expertise that the foreign collaborators brought to the mar ket place helped increase the overall quality of the products quite significantly. In the early 2000s, the competition intensified further. In 2000, Honda announced its intentions to set up a 100% subsidiary to manufacture scooters and motorcycles. Exhibit I Comparative Valuation of the Leading Companies Source: Motilal Oswal, Equity Research, February 2003. The Indian two-wheeler industry witnessed remarkable growth rates since 2000, due to a host of factors like fall in interest rates, availability of finance and affordable prices relative to the growing purchasing power. Despite the impressive growth rate of the last few years, two-wheeler penetration still remained low in the country. Analysts believed, increasing urbanization, expanding cities, lack of other modes of transportation and favourable demographics would support double-digit growth in the coming decade. The Indian two-wheeler industry could be broadly classified into three major segments— scooters, motorcycles and mopeds5. Until the early 1990s, locally manufactured scooters with gears dominated the markets. But in recent times, demand 5 Mopeds were small motorcycles, with less engine power which were priced low and were aimed at the low-income market. 110 Financial Management at Bajaj Auto or scooters had tapered off, while that for motorcycles looked buoyant. The motorcycle market in India had about tripled in size over the past 10 years 6. In 2002, the two-wheeler industry demand totaled 5 million units, making India the second largest market in the world after China 7. Exhibit II Two Wheelers Industry: Changing Dynamics Year 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 Total Two wh eelers (unit sold) 1,503,172 1,763,210 2,208,231 2,660,005 2,965,474 3,042,347 3,403,471 3,776,719 3,745,516 4,318,531 5,053,562 Geared scooters 41. 8% 43. 3% 42. 6% 40. 6% 38. 4% 35. 4% 32. % 25. 9% 16. 0% 12. 3% 6. 7% Ungeared scooters 9. 4% 7. 9% 8. 6% 9. 1% 8. 9% 8. 8% 8. 3% 10. 0% 10. 9% 9. 5% 10. 5% Motorcycles 20. 2% 21. 6% 23. 9% 24. 8% 27. 1% 30. 0% 34. 6% 42. 7% 54. 1% 66. 2% 74. 4% Mopeds 20. 0% 17. 6% 15. 1% 16. 8% 16. 5% 15. 5% 14. 6% 14. 1% 12. 9% 8. 7% 6. 2% Stepthrus 8. 6% 9. 6% 9. 8% 8. 7% 9. 1% 10. 3% 9. 8% 7. 3% 6. 1% 3. 3% 2. 2% Source: Bajaj Auto Annual Report 2002-03. Background Note The Bajaj group was founded by Jamnalal Bajaj in the 1930s. You read "Bajaj Case Study" in category "Free Case study samples" His eldest son Kamalnayan established Bajaj Auto, the flagship of the Bajaj group, in 1945, as a private limited company. From 1948 to 1959, Bajaj imported scooters and three wheelers from Italy and sold them in India. In 1959, the company obtained a license to manufacture scooters and motorized three wheeler vehicles. In 1960, it entered into a technical collaboration with Piaggio of Italy and got the right to manufacture and market Piaggio’s Vespa brand scooters and three wheelers in India. The same year, it went public. Bajaj’s first full-fledged manufacturing facility at Akurdi (Bombay-Pune Road) was inaugurated in 1960. Scooter production commenced in 1961, followed by three wheeler production in 1962. Bajaj’s scooters and three wheelers started selling under the Bajaj brand name only in 1971, when the agreement with Piaggio expired. Till the 1980s, Bajaj scooters were so popular that the basic strategy was long production runs along with a constant focus on costs. In 1984, Bajaj established its second plant (1000-acre plant) at Waluj, Aurangabad. Scooter production at this plant started in 1986, followed by three wheeler production in 1987 and scooterettes and motorcycle production in 1990 1991, respectively. 6 7 Source: Honda Annual Report 2003. China was number one with an annual production and sales of over 10 million. 111 Financial Insights As Bajaj’s products were in great demand, the company did not feel the need to introduce new products or upgrade its old models. The Chetak, which accounted for 60% of Bajaj’s scooter sales, did not even have an electronic ignition. The model’s 2stroke engine also had an emission problem that was quite serious by international standards. As competition became intense and the market was flooded with increasing numbers of models, Bajaj’s market share declined. During this period, Bajaj also followed a highly centralized, paternalistic management style. In the early 1990s, as the motorcycle market began to expand and became an attractive proposition, Bajaj lost ground. Though Bajaj had a presence in the motorcycle segment with its KB100 and 4S Champion, it did not take the segment seriously enough. Bajaj believed, motorcycles were a temporary aberration and people would return to scooters. But the scooter market kept shrinking and Bajaj was relegated to fourth place in the motorcycle market. Exhibit III Comparative Analysis: Motorcycle Sales (Number) Year 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 Bajaj Auto 32,028 34,672 42,080 75,067 89,675 129,263 137,717 200,132 255,129 421,966 670,117 % Share 10 14 14 17 16 18 17 19 17 22 23 Hero Honda 134,801 127,803 150,456 183,131 230,194 168,936 407,563 530,607 761,700 1,029,391 1,425,302 % Share 44 51 50 42 40 38 50 50 50 53 50 TVS Motors 33,744 30,085 42,080 53,120 125,286 164,083 211,667 268,099 326,357 354,497 450,113 % Share 11 12 18 20 22 23 26 25 21 18 16 Others 108,601 59,066 56,894 89,643 132,922 146,625 60,674 64,529 177,704 123,472 312,547 Total 309,174 251,626 302,550 435,053 578,077 708,907 817,621 1,063,367 1,520,890 1,929,326 2,858,079 Source: Society of Indian Automobile Manufacturers. In the late 1990s, Bajaj with the support of Kawasaki, started producing motorcycles. The result was an aggressively priced Boxer 100cc motorcycle in 1997, about Rs. 8000 cheaper than Hero Honda. As Bajaj’s volumes increased, it started pushing prices down by value engineering, localization and better capacity utilization that cut its costs by Rs. 4000 per vehicle. Exhibit IV Bajaj: Major Models Category Motorcycle Wind BYK Pulsar Eliminator 112 Products Year of Introduction 2003 2003 2002 2001 Financial Management at Bajaj Auto Category Caliber Products Boxer CT Boxer AT 4S Champion KB 100 Legend Year of Introduction 1998 1997 1997 1991 1987 1998 1976 1972 2000 1998 1990 1986 1987 Geared Scooters Super Chetak Saffire Ungeared Scooters Spirit Sunny M80 Major M80 Major 4S Step-Thrus Source: www. bajajauto. com In early 1998, Bajaj established a new plant (Rs. 3. 15 billion investment in 200-acre plot) at Chakan near Pune for its future generation vehicles. The new plant specialized in plastic bodied and tubular structure scooters. Bajaj’s relatively high level of backward integration helped it to keep raw material costs well below the industry average. For example, the company bought raw materials in bulk for itself as well as for its suppliers. For most of the two-wheeler companies, material costs accounted for about 70% of operating income, but for Bajaj it was only 57% in 1998, the lowest in the industry. In 1998, Bajaj was ranked India’s fifth most valuable company 8. Internationally, it was the world’s largest scooter producer and the fourth largest two-wheeler manufacturer after Hero Honda, Yamaha and Suzuki. But the delay in realizing the potential of motorcycle segment by Bajaj, allowed Hero Honda to race ahead to become the market leader in 2001. During 2000-01, Bajaj entered into non-life and life insurance business along with Allianz AG of Germany, one of the largest insurance companies in the world. Two companies were set up: Bajaj Allianz General Insurance Company Ltd and Allianz Bajaj Life Insurance Company Limited. Bajaj and Allianz signed two separate joint venture agreements for these two businesses and respectively committed 74% and 26% of the initial share capital of Rs110 crore in case of the general insurance venture and Rs150 crore in case of the life insurance venture. Bajaj received Rs. 1. 17 billion from Allianz as goodwill. In 2001-02, Bajaj Allianz General Insurance issued the largest number of policies among all private players in the non-life segment, and became the leader in this line of business. Allianz Bajaj Life Insurance commenced operations in October 2001. 8 ?The BT 500,? Business Today, 7th September 1998. 113 Financial Insights Exhibit V Bajaj vs. Competitors: Major Models in Different Segments in 2003 Segments BYK Economy (Priced Rs. 27,000 – Rs. 37,000) Executive (Priced Rs. 38,000 – Rs. 5,000) Premium (Priced Rs. 45,000 – Rs. 75,000) Style (Priced above Rs. 75,000) Boxer AT Boxer AR (K-Tec) Boxer CT Delux (KTec) Caliber (K-Tec) Caliber Croma Calib er 115 Pulsar 150 Pulsar 150 (self-start) Pulsar 180 CD100 SS Dawn Splendor Passion Ambition Disc CBZ Disc CBZ (selfstart) Bajaj Auto Hero Honda TVS Motors No Competition Samurai Max 100R Max DLX Victor Fiero Fiero DLX Fiero ES Crux Crux R Libero Enticer Yamaha Eliminator No Competition Note: List is not exhaustive. Source: Compiled from various sources by ICFAI Knowledge Center. The shift in preference from geared to nongeared scooters continued in 2002, resulting in a 35% decline in yearly sales. The company’s market share in the ungeared scooter market declined due to lack of models. Both LML and Honda Motorcycles strengthened their foothold in 2002 after the launch of ‘Nova’ and ‘Dio’ respectively. Bajaj Auto’s ‘Spirit’, the ungeared scooter, commanded around 25% market share in the below 100 cc category. Bajaj was one of the very few companies manufacturing three-wheelers in the world. It commanded a monopoly in the domestic market with a market share of above 80%. The rest was shared by Bajaj Tempo, Greaves Ltd and Scooters India. The company saw a sharp rise in three-wheeler demand. In early 2002, the market grew by 23%. Bajaj had also commenced the commercial production of goods carriers. In 2002, this segment generated 22% of the company’s profits. The profit per three-wheeler was estimated to be 2. 5-3 times that of a motorcycle. Bajaj gained market share in the motorcycle segment through its models like ‘Pulsar’ and ‘Boxer AR’. Boxer virtually created the four-stroke economy segment and Pulsar expanded the lifestyle segment. Pulsar’s volumes surpassed the most optimistic expectations in terms of volumes. In February 2003, Bajaj launched ‘Caliber 115’ and steadied its presence in the executive motorcycle segment. The new model registered sales of 25,706 units in March 2003. 114 Financial Management at Bajaj Auto Financial Management Bajaj earned bulk of its revenue from the automotive business. In 2003, motorcycles dominated the automotive segment, accounting for 55 % of its revenues. In 2002-03, Bajaj achieved a turnover of Rs. 5071 crore and earning before interest, taxation, depreciation and amortization (EBITDA) of Rs. 817 crore. EBITDA as a percentage of net sales and other operating income increased from 16. 8 % in 2001-02 to 19 % in 2002-03. Return on operating capital, which had dipped to a low of 14% in 2000-01, increased to 60% in 2002-03. Bajaj continued its efforts to drive top-line growth, improve operational efficiency, cut costs and improve economies of scale. Working Capital Bajaj continued to minimize its overall working capital. Debtors declined from Rs. 198 crores on 31st March 2002, to Rs. 167 crore on 31st March 2003 – a reduction of 16%. Bajaj succeeded in reducing inventory levels by using the direct on-line delivery of materials from vendors. Inventory of raw materials and components declined from seven days as on 31st March 2002, to six days as on 31st March 2003, and spare parts for replacement market from 42 days to 31 days. The inventory of finished goods however increased from six days to nine days because of the sluggish market. 9 Exhibit VI Bajaj: Operating Working Capital (Rs Million) Source: Bajaj Auto Annual Report 2002-03. Cost Structure Raw materials, advertising and marketing, and indirect taxes (excise, etc) were the major cost heads for Bajaj. During 2002-03, through its continuous efforts in value engineering and improving relations with the vendors, Bajaj was able to reduce its 9 Bajaj Auto Annual Report 2002-03. 115 Financial Insights material costs. The share of materials to net sales and other operating income reduced from 63. 3 % in 2001-02 to 62 % in 2002-03, while the share of stores and tools was contained at 1. 5 % of net sales and other operating income. 10 Labor costs for 2002-03 included a sum of Rs. 461 million (Rs. 3 million in 2001-02) towards compensation paid to employees under the voluntary retirement scheme. A total of 1,106 employees opted for the scheme, which had a payback period of two years. Bajaj’s labor costs made up 4. 66% of its total revenue in 2002-03. 11 Despite a 16. 5% increase in net sales and other operating income – from Rs. 36. 96 billion in 2001-02 to Rs. 43. 06 billion in 2002-03, factory and administration costs had come down from 5. 3% of net sales and operating income to 4. 3%. This was the result of a thorough review of fixed costs with each plant head. Sales and after sales expenses were around 6. 7 % of net sales and other operating income. In 2003, Bajaj’s advertising and marketing expenditures were Rs 233. 9 crore (8. 61% of its total revenue), whereas Hero Honda’s expenditures were Rs. 147. 01 crore (4. 16% of total revenue) and TVS’ were Rs. 212. 49 crore (11. 06% of total revenue). Bajaj’s total indirect tax expenses were Rs. 601. 22 crore in comparison to Hero Honda’s Rs. 9. 75 crore and TVS’ Rs. 435. 77 crore in 2003. 12 Investments Bajaj invested its surplus funds in secured and fixed investment securities like G-Secs, T-Bills, etc. The return earned by Bajaj on its treasury portfolio was comparable with the return earned by t he top mutual funds. During 2002-03, Bajaj reduced its equity investments and concentrated more on the G-Sec and bond market. Thus, the market value of the portfolio changed from a diminution in value to cost in 2002, to an appreciation in value to cost of Rs. 343 million in March 2003. During 2002-03, Bajaj provided Rs. 26. 7 million towards impairment in the carrying costs of its investment portfolio. In addition, continuing its efforts to liquidate non-performing assets, Bajaj booked a total loss of Rs. 853 million. This loss was set off against gains on sale of assets of Rs. 1, 067 million that resulted in a net gain of Rs. 214 million. 13 Figure (ii) Bajaj: Liability Structure, 2003 Source: Prowess Database. 10 11 12 13 Bajaj Auto Annual Report, 2002-03. Source: Prowess Database. Source: Prowess Database. Bajaj Auto Annual Report, 2002-03. 116 Financial Management at Bajaj Auto Exhibit VII Bajaj: Investment of Surplus Funds (Rs. million) Source: Bajaj Auto Annual Report, 2002-03. Exhibit: VIII Income from Investments (Rs Million) 2002-2003 Dividends Interest on debentures and bonds Interest on government securities Interest on inter-corporate deposits and other loans Income from mutual fund units Lease rent and equalization Profit on sale of investments Interest on fixed deposits Others Total Interest on tax refunds Total non-operating income Non-operating expenses Net non-operating income Source: Bajaj Auto Annual Report, 2002-03. 17 127 408 405 239 44 214 2 11 1,450 1,450 274 1,176 2001-2002 592 291 18 364 79 234 6 1,584 18 1,602 436 1,166 Financial Insights Return on Capital In early 2003, Bajaj maintained a free cash reserve of Rs 2,700 crore. The management had no intention of reducing that cash pile in the near future. Meanwhile, analysts argued14 that retaining surplus cash would only dilute a company’s Return on Capital Employed (ROCE) and, over a period of time, destroy shareholder value. Bajaj had a capital employed of Rs 4,000 crore, of which only Rs 1,300 crore was deployed in its two-wheeler operations. This generated an excellent ROCE of 60%. But the remaining Rs 2,700 crore of idle cash, earned a return of only 17%. As a result, Bajaj Auto’s overall ROCE was 31%, far lower than Hero Honda’s 95%. Exhibit IX Return on Operating Capital (Rs. Million) As at 31, March 2003 Fixed assets Technical know-how Working capital Total Operating profit after interest and depreciation Pre-tax return on operating capital exmployed Source: Bajaj Auto Annual Report, 2002-03. As at 31, March 2002 10,910 128 699 11,737 4,834 41% 10,502 107 638 11,247 6,744 60% Exhibit X Dividend Payouts (%) Company Bajaj Hero Honda TVS 1999 19. 18 22. 89 21. 96 2000 20. 88 23. 08 23. 92 2001 35. 69 26. 74 32. 54 2002 27. 34 75. 53 42. 47 Source: Businessworld, 19th May 2003. Capital Structure Bajaj’s debt-equity ratio was 0. 6 and interest coverage was 717. 76 times in 2003. Bajaj mostly relied on internal generation rather than external funding. In 2003, Bajaj had Rs. 3139. 42 crore of reserve surplus (49% of it total assets), where as Hero Honda and TVS had only Rs. 821. 09 crore and Rs. 399. 85 crore respect ively. Bajaj deployed bulk of its funds in investments (44. 02% of total assets) and fixed assets (20. 57% of total assets). 14 M. Anand, ? Is Munjal Being Too Generous Businessworld, 19th May 2003. 118 Financial Management at Bajaj Auto Exhibit XI Bajaj: Equity Holding, December 2003 Equity Holding Indian promoters Mutual funds and UTI Banks, FI’s, Insurance Cos. FIIs Private corporate bodies Indian public NRIs/OCBs Any other Total equity holding Source: Prowess Database. No of Shares 29516461 1612731 3829868 19318255 13264490 29054237 401776 4185692 101183510 % of Total Shares 29. 17 1. 59 3. 79 19. 09 13. 11 28. 71 0. 40 4. 14 100 In September 2000, Bajaj had spent about Rs 720 crore to buy back 15% of its equity. The offer was announced at a price of Rs 400 per share when the prevailing price was around Rs 320. Though prices fell to Rs 200 immediately after the buyback, it had later recovered to about Rs 500. Bajaj believed buy back was a better way to distribute profits to shareholders than dividends. Bajaj had a cash reserve of $ 575 million and paid a final dividend of 120% and a special dividend of 20% in 2002 (paid on account of the one-time premia received from Allianz AG, Germany, the company’s partner in the two insurance joint ventures)15 and a final dividend of 140% in 2003. The amount of dividend and the tax aggregated to Rs. 1,598 million. The company’s dividend yield i. e. , (dividend per share by the market price) showed that Bajaj had a yield of 2. 7%. 16 Looking Ahead In the motorcycles segment, ‘Boxer’ had performed well and had increased its market share to 45% in the entry-level market, which was estimated at 102,000 units (35% of total motorcycle sales). But growth was primarily led by ‘Pulsar’, the premium-end motorcycle. Against the company’s estimate of 10,000 units per month at the beginning of 2002, the model notched sales of around 17,000 units per month in late 2002. Encouraged by the success, Bajaj planned to ramp up sales to 25,000 units per month by early 2004 and expected to achieve total leadership in the motorcycle segment, aiming at a growth rate of 15%. Bajaj expected to improve its relationships with customers by expanding its product range and widening its dealer network. It planned to launch a 125 cc motorcycle with Kawasaki Heavy Industries Ltd, which was in the final stage of development. A rear engine diesel goods carrier was in the testing stage 15 16 Source: Prowess Database. Chetan Soni Nandini Sen Gupta, ? Rolling stock: Payouts put auto investors in top gear,? Times News Network, 4th June 2003. 119 Financial Insights and would be launched in 2004. Bajaj also planned to broaden its vision and work towards being a truly global player. Effective management of the company’s finances would play an important role in this regard. Figure (iii) Bajaj: Closing Share Price Traded Quantity Source: Prowess Database. Figure (iv) Bajaj: Traded Quantity Source: Prowess Database. Figure (v) Bajaj: Dividend Yield Earning Per Share Dividend Yield 6 5 4 3 2 1 0 Dec-97 Dec-98 Dec-99 Dec-00 Dec-01 Dec-02 Dec-03 Jun-98 Jun-99 Jun-00 Jun-01 Jun-02 Jun-03 Earning Per Share 80 60 40 20 0 Dec-97 Jun-98 Dec-98 Jun-99 Dec-99 Jun-00 Dec-00 Jun-01 Dec-01 Jun-02 Dec-02 Jun-03 Dec-03 Source: Prowess Database. 120 Financial Management at Bajaj Auto Figure (vi) Bajaj: Assets Structure Source: Prowess Database. Exhibit: XII Bajaj: Capital History Issue Month Issue Type Face Value (Rs. ) 10 10 Security Amount (Rs. Crore) 0 0 Additional Increased Paid up Paid up Capital Capital (Rs. Crore) (Rs. Crore) 18. 81 37. 63 37. 63 75. 25 Security Type Sep-91 Bonus Jun-94 Bonus Euro Oct-94 Issue Sep-97 Bonus Equity Equity Global Depository Receipts Equity 10 10 10 345. 07 0 0 4. 34 39. 8 0 79. 59 119. 39 101. 18 Buybac Sep-00 k Equity Source: Prowess Database. Exhibit XIII Bajaj: Ratios Bajaj Auto Ratios Liquidity Ratios Current ratio Quick ratio Solvency Ratios Debt-equity ratio Interest coverage 0. 26 0. 22 0. 20 45. 04 0. 16 33. 85 0. 17 21. 23 0. 11 11. 83 0. 29 18. 43 0. 52 5. 63 0. 6 4. 58 2. 07 1. 20 1. 88 1. 01 1. 69 0. 69 1. 11 0. 16 1. 20 0. 25 1. 44 0. 81 1. 01 0. 34 1. 12 0. 47 1. 16 0. 36 2003 2002 2001 Hero Honda 2003 2002 2001 T V S Motor 2003 2002 2001 717. 76 161. 91 121 Financial Insights Bajaj Auto Ratios 2003 2002 2001 Hero Honda 2003 2002 2001 T V S Motor 2003 2002 2001 Efficiency Ratios (in Da ys) Average days of finished goods stock Average days of debtors Average days of creditors Net working capital cycle Profitability Ratios PBDIT (NNRT) as % of sales PBIT (NNRT) as % of sales PAT (NNRT) as % of sales Return on net worth Return on capital employed 20. 19 16. 65 11. 07 17. 50 21. 47 16. 87 13. 12 8. 63 13. 3 16. 74 13. 07 9. 18 8. 24 10. 26 9. 98 17. 59 16. 45 10. 02 67. 10 94. 64 16. 77 15. 63 9. 72 67. 67 95. 27 14. 46 13. 07 7. 87 47. 52 70. 98 9. 23 6. 66 3. 94 32. 89 42. 10 6. 79 4. 57 2. 47 8. 18 5. 78 3. 47 9. 90 13. 80 42. 40 -5. 68 10. 27 13. 95 43. 47 0. 69 11. 38 15. 42 49. 54 6. 61 3. 91 8. 62 35. 57 -7. 47 3. 53 5. 80 32. 71 -4. 79 3. 93 4. 28 31. 10 14. 09 8. 14 52. 96 14. 97 13. 13 15. 95 19. 82 52. 05 44. 89 -1. 24 7. 54 2. 05 -14. 15 16. 05 18. 80 20. 86 20. 74 90. 00 80. 00 Dividend rate (sum of interim and final) 140. 00 140. 00 Market Ratios P/E P/B 16. 61 3. 19 9. 54 1. 63 80. 00 900. 00 850. 00 150. 00 120. 00 9. 25 1. 32 3. 46 7. 63 9. 27 5. 62 1 3. 66 6. 21 18. 41 5. 02 10. 35 10. 39 3. 08 0. 99 Source: Prowess Database. Exhibit XIV Common size Income statement Commonsize Income Statement 2003 Total Revenue Sales Other income Change in stocks Non-recurring income Bajaj Auto 2002 2001 Hero Honda 2003 2002 2001 2003 TVS 2002 2001 100. 00 100. 00 100. 00 100. 00 100. 00 100. 00 100. 00 100. 00 100. 00 94. 22 3. 51 0. 64 1. 64 92. 27 4. 22 -0. 67 4. 18 91. 85 6. 18 0. 36 1. 61 97. 76 0. 44 0. 40 1. 40 98. 24 1. 04 -0. 13 0. 85 98. 75 0. 33 0. 56 0. 35 97. 76 0. 67 1. 25 0. 31 98. 96 0. 89 0. 15 0. 01 98. 04 1. 05 0. 90 0. 01 122 Financial Management at Bajaj Auto Commonsize Income Statement 2003 Expenditure Raw materials, stores, etc. Wages salaries Energy (power fuel) Indirect taxes (excise, etc. ) Advertising marketing expenses Distribution expenses Others Non-recurring expenses Profits / losses PBDIT Financial charges (incl. lease rent) PBDT Depreciation PBT Tax provision PAT Bajaj Auto 2002 2001 Hero Honda 2003 2002 2001 2003 TVS 2002 2001 52. 84 4. 66 1. 19 11. 73 51. 39 5. 12 1. 41 11. 80 52. 79 6. 20 1. 80 14. 57 67. 59 3. 86 0. 49 0. 19 68. 80 3. 71 0. 56 0. 12 72. 87 3. 67 0. 73 0. 19 60. 37 3. 27 0. 66 13. 69 63. 29 3. 37 0. 69 13. 86 73. 20 3. 46 0. 90 1. 72 8. 61 0. 86 3. 50 1. 63 19. 3 8. 62 0. 82 5. 28 0. 69 19. 06 9. 83 0. 90 4. 93 2. 85 10. 77 4. 16 1. 89 4. 57 0. 07 18. 51 2. 99 1. 88 5. 55 0. 22 17. 10 2. 74 1. 81 4. 12 0. 46 14. 18 11. 06 2. 08 3. 92 0. 10 9. 23 8. 37 2. 12 4. 65 0. 04 6. 69 8. 76 1. 60 4. 69 0. 04 7. 99 0. 02 19. 01 3. 34 15. 67 5. 24 10. 43 0. 07 18. 99 3. 47 15. 52 4. 06 11. 46 0. 19 10. 58 3. 57 7. 0 1 0. 68 6. 33 0. 48 18. 04 1. 11 16. 93 5. 81 11. 12 0. 72 16. 38 1. 12 15. 26 5. 08 10. 17 1. 09 13. 09 1. 38 11. 72 4. 04 7. 67 0. 35 8. 88 2. 51 6. 36 2. 30 4. 06 0. 80 5. 89 2. 20 3. 69 1. 28 2. 41 1. 24 6. 75 2. 35 4. 40 1. 03 3. 37 Source: Prowess Database. Exhibit XV Common size Balance Sheet Common size Balance Sheet 2003 Total assets Gross fixed assets Land building Plant machinery Other fixed assets Capital WIP Bajaj Auto 2002 2001 Hero Honda 2003 2002 2001 2003 TVS 2002 2001 100. 00 100. 00 100. 00 100. 00 100. 00 100. 00 100. 00 100. 00 100. 00 41. 62 4. 02 35. 09 2. 45 0. 06 46. 97 4. 65 39. 56 2. 69 0. 07 53. 65 5. 30 44. 99 2. 88 0. 48 35. 60 5. 77 28. 21 1. 20 0. 42 40. 72 6. 96 31. 96 1. 25 0. 55 54. 82 7. 93 43. 57 1. 68 1. 64 77. 80 12. 72 58. 45 4. 01 2. 63 78. 81 10. 14 63. 09 4. 22 1. 35 77. 23 10. 39 59. 41 4. 40 3. 04 123 Financial Insights Common size Balance Sheet 2003 Less: cumulative depreciation Net fixed assets Investments In group / associate cos. In mutual funds Other investments Inventory Raw materials Stores and spares Finished goods Semi-finished goods Sundry debtors Accrued income Advances / loans to Group / associate cos. Advances / loans to Other cos. Deposits with govt. / agencies Advance payment of tax Other receivables Cash bank balance Deferred tax assets Intangible assets deferred revenue expenditure not written off Bajaj Auto 2002 2001 Hero Honda 2003 2002 2001 2003 TVS 2002 2001 21. 05 20. 57 44. 02 4. 13 3. 50 36. 39 3. 30 0. 89 0. 34 1. 82 0. 25 2. 65 0. 32 21. 67 25. 30 36. 82 4. 75 2. 29 29. 78 3. 31 1. 00 0. 57 1. 44 0. 30 3. 66 0. 47 24. 30 29. 35 25. 89 1. 46 2. 64 21. 79 5. 46 1. 96 0. 91 2. 23 0. 36 2. 60 0. 71 12. 47 23. 13 54. 3 0. 16 54. 37 0. 00 9. 18 5. 10 1. 14 2. 51 0. 43 6. 46 0. 00 12. 74 27. 98 41. 41 0. 20 41. 21 0. 00 10. 17 6. 17 1. 54 1. 94 0. 52 5. 69 0. 00 15. 55 39. 27 26. 18 0. 30 25. 88 0. 00 17. 18 10. 62 2. 32 3. 16 1. 08 3. 66 0. 00 28. 15 49. 65 8. 19 5. 60 2. 57 0. 02 19. 95 3. 89 4. 13 10. 36 1. 58 4. 87 0. 00 28. 18 50. 63 1. 66 1. 60 0. 00 0. 05 17. 15 4. 24 2. 50 8. 44 1. 97 9. 97 0. 00 24. 69 52. 54 1. 79 1. 68 0. 00 0. 12 18. 32 5. 49 2. 13 8. 46 2. 25 12. 89 0. 00 1. 68 3. 56 0. 11 0. 00 0. 00 0. 00 0. 00 0. 00 0. 00 1. 16 1. 60 8. 21 0. 00 0. 00 0. 00 1. 43 4. 49 1. 86 0. 06 0. 40 0. 41 0. 01 0. 01 0. 11 0. 08 0. 02 3. 93 21. 99 2. 52 0. 8 1. 08 21. 04 2. 28 0. 47 0. 84 21. 71 4. 74 0. 46 0. 00 0. 52 4. 48 1. 11 0. 04 0. 59 7. 31 6. 21 0. 05 0. 88 7. 08 3. 90 0. 00 0. 00 7. 59 7. 69 0. 55 0. 59 6. 48 8. 56 0. 41 0. 77 5. 93 1. 92 0. 00 0. 17 0. 24 0. 35 0. 53 0. 58 1. 75 0. 00 0. 03 0. 05 124 Financial Management at Bajaj Auto Common size Balance Sheet 2003 Total liabilities Net worth Paid-up equity capital Reserves surplus Secured borrowings Unsecured borrowings Deferred tax liabilities Current liabilities Sundry creditors Interest accrued / due Other current liabilities Provisions Tax provision Dividend provision Dividend tax provision Other pro visions Bajaj Auto 2002 2001 Hero Honda 2003 2002 2001 2003 TVS 2002 2001 100. 00 100. 00 100. 00 100. 00 100. 00 100. 00 100. 00 100. 00 100. 00 51. 36 1. 60 49. 75 0. 85 12. 46 3. 81 7. 21 6. 56 0. 00 0. 65 24. 30 21. 01 2. 25 0. 29 0. 76 52. 99 1. 87 51. 12 0. 59 10. 99 4. 36 8. 41 7. 60 0. 00 0. 81 22. 65 19. 56 2. 62 0. 00 0. 47 56. 80 2. 18 54. 62 1. 21 9. 86 0. 00 10. 07 7. 70 0. 00 2. 37 22. 06 19. 77 1. 74 0. 18 0. 37 39. 34 1. 82 37. 52 0. 00 6. 14 3. 53 31. 14 18. 73 0. 00 12. 41 19. 86 0. 50 16. 42 2. 10 0. 84 39. 10 2. 28 36. 82 0. 00 6. 64 4. 07 34. 97 22. 73 0. 00 12. 24 15. 22 0. 48 13. 66 0. 00 1. 08 54. 44 3. 46 50. 98 0. 00 5. 75 0. 00 31. 63 22. 03 0. 00 9. 60 8. 18 0. 82 5. 18 0. 3 1. 64 39. 42 2. 15 37. 27 3. 82 7. 54 8. 27 37. 87 37. 81 0. 00 0. 06 3. 08 0. 00 1. 51 0. 19 1. 38 37. 27 2. 66 34. 61 10. 50 8. 74 9. 14 33. 31 33. 08 0. 00 0. 24 1. 04 0. 00 0. 00 0. 00 1. 04 43. 06 2. 78 40. 28 19. 09 9. 09 0. 00 25. 55 25. 51 0. 00 0. 05 3. 20 0. 00 2. 23 0. 23 0. 75 Source: Prowess Database. Exhibit XVI Comparative Income Statement Comparative Income Statement 2001 Total Revenue Sales Other income Change in stocks Non-recurring income 3628. 74 4172. 1 4829. 37 3177. 2 4471. 87 5107. 7 1820. 98 2213. 59 3111. 28 244. 19 190. 61 179. 85 14. 13 -30. 4 32. 58 83. 93 10. 63 18. 17 11. 42 47. 21 -5. 81 38. 54 23. 24 21. 08 72. 8 19. 57 16. 65 0. 27 19. 8 3. 27 0. 23 21. 4 39. 82 9. 94 Bajaj Auto 2002 2003 Hero Honda 2001 2002 2003 2001 TVS 2002 2003 63. 66 189. 21 125 Financial Insights Comparative Income Statement 2001 Expenditure Raw materials, stores, etc. Wages salaries Energy (power fuel) Indirect taxes (excise, etc. ) Bajaj Auto 2002 2003 Hero Honda 2001 2002 2003 2001 TVS 2002 2003 2085. 47 2323. 71 2708. 23 2344. 39 3131. 72 3531. 81 1359. 65 1415. 78 1921. 32 245. 14 231. 48 239. 05 117. 96 168. 94 201. 63 64. 26 75. 37 104. 05 71. 03 63. 64 61. 12 23. 4 5. 98 25. 61 5. 39 25. 82 9. 75 16. 63 15. 44 20. 85 575. 8 533. 48 601. 22 31. 88 309. 94 435. 77 Advertising marketing expenses 204. 94 200. 41 233. 29 Distribution expenses Others 35. 46 37. 02 44. 23 64. 17 58. 1 93. 73 147. 01 119. 04 118. 49 212. 49 85. 39 98. 92 29. 64 47. 36 66. 27 194. 82 238. 63 179. 61 132. 45 252. 48 238. 84 31. 25 83. 7 14. 65 10. 24 3. 86 87. 15 103. 91 124. 72 0. 83 0. 86 3. 28 Non-recurring expenses 112. 59 Profits / losses PBDIT Financial charges (incl. lease rent) PBDT Depreciation PBT Tax provision PAT ppropriation of profits Dividends Retained earnings 425. 47 861. 9 975. 28 456. 32 778. 31 967. 36 148. 39 149. 74 293. 69 7. 4 3. 38 1. 12 35. 1 44. 27 32. 92 51. 01 24. 82 57. 98 303. 8 22. 97 43. 73 81. 69 19. 12 62. 7 17. 96 49. 22 28. 61 11. 24 79. 91 73. 19 418. 07 858. 52 974. 16 421. 22 745. 39 942. 54 125. 42 131. 78 282. 45 141. 12 156. 68 171. 16 276. 95 701. 84 803 376. 95 694. 38 884. 56 82. 56 202. 54 53. 95 129. 35 27 183. 68 268. 36 130. 08 231. 45 249. 95 518. 16 534. 64 246. 87 462. 93 580. 76 89. 21 141. 66 159. 81 160. 74 66. 01 349. 67 405. 49 20. 36 42. 21 22. 91 31. 04 29. 79 99. 56 376. 5 374. 83 180. 86 113. 26 175. 27 Source: Prowess Database. Exhibit XVII Comparative Balance Sheet Comparative Balance Sheet (Rs Crore) Assets Gross fixed assets 2001 Bajaj 2002 2003 Hero Honda 2001 633. 61 2002 714. 21 2003 779. 25 TVS Motor 2001 641. 3 2002 683. 85 2003 834. 7 2490. 26 2540. 08 2626. 18 126 Financial Management at Bajaj Auto Comparative Balance Sheet (Rs Crore) Land building Plant machinery Other fixed assets Capital WIP Less: cumulative depreciation Net fixed assets Investments In group / associate cos. In mutual funds Other investments Inventories Raw materials Stores and spares Finished goods Semi-finished goods Receivables Sundry debtors Accrued income Advances / loans to Group / associate cos. Advances / loans to Other cos. Deposits with govt. / agencies Advance payment of tax Other receivables Cash bank balance Deferred tax assets Intangible assets (goodwill, etc. Deferred revenue expenditu re not written off 245. 85 Bajaj 251. 53 Hero Honda 253. 42 Mar-00 May-00 May-00 503. 59 19. 45 18. 95 179. 76 453. 85 302. 59 3. 46 299. 13 0 198. 54 122. 79 26. 81 36. 47 12. 47 135. 54 42. 29 0 560. 54 21. 89 9. 69 223. 47 490. 74 617. 32 26. 37 9. 19 273. 01 506. 24 TVS Motor 86. 24 493. 09 36. 49 25. 21 204. 92 436. 11 14. 89 13. 92 0 0. 97 152. 03 45. 53 17. 65 70. 2 18. 65 210. 64 106. 95 0. 04 88. 03 547. 47 36. 66 11. 69 244. 54 439. 31 14. 39 13. 92 0 0. 47 148. 79 36. 76 21. 73 73. 23 17. 07 187. 09 86. 52 0 136. 47 627. 07 42. 97 28. 19 302. 03 532. 67 87. 92 60. 08 27. 58 0. 26 214. 07 41. 71 44. 32 111. 1 16. 94 149. 87 52. 21 0 088. 17 2139. 11 2214. 16 133. 81 22. 43 1127. 91 145. 48 3. 96 154. 59 4. 01 1171. 8 1327. 95 1362. 35 1368. 28 1298. 23 1201. 65 1991. 42 2777. 68 67. 62 122. 77 257. 02 123. 99 260. 88 220. 77 726. 29 1193. 52 3. 46 3. 46 722. 83 1190. 06 0 178. 36 108. 27 26. 96 34. 02 9. 11 238. 52 99. 72 0 0 200. 92 111. 67 25. 04 54. 84 9. 37 251. 26 141 . 49 0 1011. 26 1610. 41 2296. 03 253. 43 91 42. 17 103. 49 16. 77 179. 1 54. 32 30. 57 77. 95 16. 26 207. 98 56. 16 21. 15 114. 63 16. 04 1786. 88 1785. 53 1917. 13 120. 72 33. 01 198. 17 25. 34 167. 04 20. 24 5. 3 380. 88 19. 24 192. 75 86. 6 21. 73 106 73. 11 3. 87 1387. 8 159. 07 30. 03 68. 06 10. 68 0 1. 26 10. 14 81. 85 45. 09 0 0 0 0 0. 21 10. 34 128. 25 108. 96 0. 81 0 0 0 0. 32 11. 31 98. 14 24. 33 0. 89 0 0 15. 43 32. 66 6. 38 49. 18 15. 91 0 0 0 39 0. 14 5. 16 56. 27 74. 27 3. 57 0 0 15. 3 0. 86 0. 03 81. 47 82. 46 5. 9 0 1007. 75 1137. 62 219. 98 21. 32 0 0 123. 32 25. 2 45. 48 12. 8 16. 03 0 0 20. 2 10. 22 11. 52 0. 44 0. 3 0 127 Financial Insights Comparative Balance Sheet (Rs Crore) Share issue expenses not written off VRS expenses not written off Other misc. expenses not written off Total assets Net worth Authorized capital Issued equity capital Paid-up equity capital Bonus equity capital Buy back amount Buy back shares (nos. Reserves surplus Free reserves Specific reserves Borrowings Bank borrowings Short term bank borrowings Long term bank borrowings Govt. / sales tax deferral borrowings Debentures / bonds Fixed deposits Other borrowings Secured borrowings Unsecured borrowings Bajaj Hero Honda TVS Motor 0 0 0 0 0 0 0 0 0 0 0 0 0. 44 0 0. 3 0 0 0 16. 03 0 0 20. 2 10. 22 11. 52 0 830. 02 357. 41 25 23. 1 23. 1 0 0 0 334. 31 291. 81 42. 5 233. 95 107. 37 76. 12 31. 25 0 0 4641. 66 5407. 81 6309. 79 1155. 81 2636. 53 2865. 79 3240. 61 150 101. 18 101. 18 114. 17 18. 21 1820730 4 2535. 35 150 101. 19 101. 19 114. 17 0 0 150 101. 19 101. 19 114. 17 0 0 629. 19 50 39. 94 39. 94 23. 96 0 0 589. 25 589. 25 0 66. 48 0 0 0 1753. 9 2188. 68 685. 76 50 39. 94 39. 94 23. 96 0 0 645. 82 645. 2 0 116. 44 0 0 0 861. 03 50 39. 94 39. 94 23. 96 0 0 821. 09 821. 09 0 134. 28 0 0 0 867. 72 1072. 89 323. 39 25 23. 1 23. 1 0 0 0 300. 29 270. 59 29. 7 166. 94 53. 64 34. 89 18. 75 422. 95 25 23. 1 23. 1 0 0 0 399. 85 380. 05 19. 8 121. 89 16. 13 16. 13 0 2764. 6 313 9. 42 2515. 39 2744. 64 3121. 21 19. 96 513. 71 55. 97 55. 97 0 19. 96 626. 09 31. 83 31. 83 0 18. 21 840. 23 53. 91 53. 91 0 451. 64 0 6. 1 0 55. 97 457. 74 588. 96 0 5. 3 0 31. 83 594. 26 781. 9 0 4. 42 0 53. 91 786. 32 66. 48 0 0 0 0 66. 48 116. 44 0 0 0 0 116. 44 134. 28 0 0 0 0 134. 28 0 85 0 41. 58 158. 49 75. 46 0 59. 4 0 53. 9 91. 11 75. 83 0 39. 6 0 66. 16 41. 03 80. 86 128 Financial Management at Bajaj Auto Comparative Balance Sheet (Rs Crore) Current portion of long term debt Total foreign currency borrowings Deferred tax liabilities Current liabilities provisions Current liabilities Sundry creditors Interest accrued / due Other current liabilities Share application money Provisions Tax provision Dividend provision Dividend tax provision Other provisions Total liabilities Bajaj Hero Honda TVS Motor 0 0 0 0 0 0 65. 38 36 11. 48 0 0 0 236. 05 0 240. 47 0 0 0 0 71. 47 77. 16 0 0 0 79. 35 0 88. 72 1491. 42 1679. 88 1988. 48 467. 55 357. 29 0. 11 110. 15 454. 93 411. 13 0. 1 43. 7 454. 9 413. 86 0. 08 40. 96 460. 14 365. 62 254. 61 0 111. 01 880. 3 1116. 21 613. 32 398. 61 0 214. 71 681. 52 409. 94 0 271. 58 238. 66 212. 1 211. 71 0 0. 39 298. 04 289. 05 287 0 2. 05 439. 33 406. 26 405. 65 0 0. 61 0 0 0 0. 02 94. 52 9. 51 59. 9 6. 11 19 0. 02 266. 91 8. 34 239. 64 0 18. 93 0 434. 69 10. 9 359. 44 46. 05 18. 3 0 26. 56 0 18. 48 1. 88 6. 2 830. 02 0 8. 99 0 0 0 8. 99 0 33. 07 0 16. 17 2. 07 14. 83 1023. 87 1224. 95 1533. 58 917. 58 1057. 94 1325. 98 80. 95 8. 26 17. 08 141. 66 0 25. 35 141. 66 18. 15 47. 79 4641. 66 5407. 81 6309. 79 1155. 81 1753. 9 2188. 68 867. 72 1072. 89 Source: Prowess Database. 129 Financial Insights Bibliography 1. 2. ?The BT 500,? Business Today, 7th September 1998. Gita Piramal, Sumantra Goshal and Sudeep Budhiraja, ? Transformation of Bajaj Auto Ltd,? Lessons in Excellence Case Contest, www. thesmartmanager. com, February-March, 2003. M. Anand, ? Is Munjal Being Too Generous Businessworld, 19th May 2003. B19th May Chetan Soni Nandini Sen Gupta, ? Rolling stock: Payouts put auto investors in top gear,? Times News Network, 4th June 2003. Motilal Oswal, Equity Research, February 2003. Honda Annual Report 2003. Bajaj Auto Limited Annual Report 2003. CMIE – Prowess Database. CMIE – Industry Analysis Service. www. bajajauto. com. www. siamindia. com. www. indiainfoline. com. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 130 How to cite Bajaj Case Study, Free Case study samples

Is Claudius Presented by Shakespeare as a Tragic Villain Without Any Redeeming Features free essay sample

As the King, Shakespeare presents Claudius as an able ruler who is trying to prove his worthiness to his court. This is apparent in Act 1, Scene 2 in Claudius’ opening speech. Claudius can be seen as being sincere in this speech as he mentions the death of his brother: ‘bear our hearts in grief’ (page 15) and he also states that the country is ‘contracted in one brow of woe’ (page 15). His language could be interpreted as heartfelt in his opening speech as he feels genuine sorrow over his brother’s death. This is a redeeming feature as he appears to feel love towards his brother for mentioning him as he takes his place as King. The language Shakespeare uses in Claudius’ opening speech is dismissive about the threat that Denmark may face from Norway due to Fortinbras: ‘So much for him’ (page 17). This is because he wants to display his confidence as a leader and to calm the listeners. We will write a custom essay sample on Is Claudius Presented by Shakespeare as a Tragic Villain Without Any Redeeming Features? or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page This contributes to Claudius’ redeeming features as he appears to be considerate towards the feelings of those within the court. He does not wish to worry them and therefore comes across as an able leader. It may be interpreted that Claudius is inferior to his predecessor and is trying to provide the court with the reassurance that he can follow on from the previous King. Hamlet states that Claudius is ‘no more like my father/Than I to Hercules’ (page 25). This imagery that Shakespeare uses shows the previous King as a stern warrior in the mold of classical Greek heroes. In contrast, Claudius is a corrupt politician whose weapon is his ability to manipulate others through his skillful use of language. Shakespeare structures juxtaposition between the setting of Act one, Scene ne and Act one, Scene two in order to show a contrast in the reality and the dream in Claudius’ mind. Act one, Scene one takes place outside the castle at the dead of night. This pathetic fallacy creates a foreboding and intense atmosphere, almost predicting the appearance of the Ghost. The Ghost represents the harsh reality that Claudius has to face and the reason for his feelings of guilt. Act one, Scene two contrasts with the previous scene as it takes place inside the castle, with Claudius at the centre. This is Claudius’ dream situation, that he is King of Denmark with Gertrude as his Queen. The dramatic change in setting between scenes makes Claudius appear more oblivious to the consequences of his actions, as he is now centre of attention as King. This disillusion that Claudius appears to be in may deter the audience, as he cannot accept the effect of his actions. Unlike the majority of speeches throughout the play, Claudius’ opening speech deviates from iambic pentameter. This reflects the disorder that Claudius has created because of the murder. Court life would ordinarily have order and tranquillity and the structure of Claudius’ speech does not reflect this. However, it can be seen that Claudius is trying to restore order through his speech as he settles the court over the threat of Fortinbras: ‘So much for him’ (page 17). However, this is unlikely as Claudius’ actions led to the destruction of many other characters and does not restore order. The fact that the speech itself does not fit in with the typical Shakespearean structure of iambic pentameter, could reflect that Claudius himself does not fit in as the King of Denmark as he disrupts the divine hierarchy. Claudius disrupts the Chain of Being, a hierarchy derived from Aristotle and Plato; this would have been followed during the Elizabethan time period. At the top of the chain are God and the angels; whilst at the bottom are plants and rocks. Claudius disrupts the hierarchy as he takes the place of the previous King by marrying the Queen and not being next in line to the throne: ‘†¦for which I did the murder/My crown, mine own ambition, and my Queen’ (page 165). This can be interpreted as a villainous act that was committed purely for the gain of Claudius. Such an act would be typical of a tragic villain as his acts lead to the downfall of the other characters. For example, Claudius’ actions lead to Hamlet receiving a visit from the Ghost and therefore feigning his madness in order to, eventually, avenge his fathers’ death. However, it is possible that Claudius is not a typical tragic villain. Claudius appears to feel guilt for murdering his brother, which is clear from his soliloquy in Act three, Scene three: ‘My stronger guilt defeats my strong intent’ (page 163). His attempted prayer proves he cannot be wholly evil if he seeks forgiveness for his sins. He does this although he is not a religious man: ‘Bow stubborn knees’ (page 165), which suggests he feels deep guilt and resentment over his actions for him to turn to religion for forgiveness. This is not typical of tragic villains, who tend not to be religious or feel any resentment for their behaviour. This could show that Claudius wishes to be saved from going to hell after his death, which would not be a typical concern of a Shakespearean villain. Claudius also creates peace with the other characters. For example, in his opening speech in Act one, Scene two, he is trying not to worry the court about the potential threat of Fortinbras, and in Act four, Scene five, Claudius tries to calm Laertes’ rage rather than encourage him to kill Hamlet. Such actions would not be typical of Shakespearean tragic villains, such as Iago from ‘Othello’. Iago feels no guilt for his actions against Cassio, Othello and Desdemona and is aware of the pain he is inflicting onto others. His actions against Othello also appear purposeless as it is never revealed why he dislikes him and wants him to suffer so much. Claudius is unlike Iago as he does feel guilt and his actions are indeed purposeful. Whereas most of the other important men in ‘Hamlet’ are preoccupied with ideas of justice, revenge, and moral balance, Claudius’ actions are focused on maintaining his power. Although Claudius is Hamlet’s antagonist, he does have a number of redeeming features. He appears to have genuine affection for Gertrude, as one of the reasons for the murder of the King was to marry her: ‘My crown†¦and my Queen’ (page 165). This also comes across in Act five, Scene two, as when Gertrude is about to drink the poisoned wine, he tells her ‘do not drink’ (page 281). Claudius is aware of the affection Gertrude feels for Hamlet and when trying to be rid of him, considers her feelings: ‘That as the star moves not but in his sphere/I could not but by her. ’ (page 223). The imagery that Shakespeare uses is very unlike Claudius’ character and more similar to Gertrude’s. The imagery of spheres, that at the time where believed to revolve around the Earth containing heavenly bodies, shows that Claudius has love for Gertrude and could not live without her. Claudius also appears to care for Hamlet to some extent. He appears to be concerned for Hamlet’s well-being, as he brings in Rosencrantz and Guildenstern in order to work out the cause of his ‘transformation’ (page 77). However, some may argue this is just an excuse for Claudius to discover whether or not Hamlet may know the truth of his father’s death. He thinks Hamlet’s madness is ‘More than his father’s death’ (page 77) and therefore wants to uncover the reason behind it. It can be seen that Hamlet’s madness is feigned and he does this purposely to see if Claudius is becoming suspicious of his actions. For example, in Act three, Scene two after witnessing Claudius’ outburst when the Player King is killed, Claudius demands for the lights: ‘Give me some light – away! ’ (page 153). This could be seen as an expression of emotion as Claudius feels tremendous guilt over his brother’s death or as a way of not allowing anyone else to gain suspicion in him through the play. Other interpretations of Claudius that the audience receive are from the other characters. Shakespeare presents grotesque and vile imagery used by Hamlet and the Ghost to describe Claudius. When Hamlet sees the Ghost in Act one, Scene five, the Ghost uses imagery of disease and corruption to describe Claudius and his actions: ‘Ay, that incestuous, that adulterate beast’ (page 51). Shakespeare uses the word ‘beast’ in reference to a cuckold. In Elizabethan times, if a woman were to have an affair, the husband would be known as a cuckold with horns to represent their foolishness in â€Å"losing† their wives. This imagery contrasts with the audience’s first interpretation of Claudius where Shakespeare presents him as a competent leader. This is the only alternate view that the reader receives in the play as both Hamlet and the Ghost have reason for hating Claudius. The view that Shakespeare gives them will have been fogged by their hatred of him and not give a fair representation of Claudius’ character. To conclude, Claudius is not a typical tragic villain due to his feelings of guilt and his consideration of others. The representation the reader receives from other characters is not a fair interpretation due to their abhorrence of him. Bibliography Heinemann Advanced Shakespeare – ‘Hamlet’ sparknotes. com sirbacon. org – F. C. Hunt interpretation

An Overview of the Roe v. Wade Supreme Court Decision

An Overview of the Roe v. Wade Supreme Court Decision On January 22, 1973, the Supreme Court handed down its historic decision in Roe v. Wade, overturning a Texas interpretation of abortion law and making abortion legal in the United States.  It was a turning point in  womens reproductive rights and has remained a hot-button issue within United States politics ever since. The Roe v. Wade decision held that a woman, with her doctor, could choose abortion in earlier months of pregnancy without legal restriction, based primarily on the right to privacy. In later trimesters, state restrictions could be applied. Fast Facts: Roe v. Wade Case Argued: December 13, 1971; October 11, 1972Decision Issued:  January 22, 1973Petitioner:  Jane Roe (appellant)Respondent:  Henry Wade (appellee)Key Questions: Does the Constitution embrace a womans right to terminate her pregnancy by abortion?Majority Decision: Justices Burger, Douglas, Brennan, Stuart, Marshall, Blackmun, and PowellDissenting: Justices White and RehnquistRuling:  A womans right to an abortion falls within the right to privacy as protected by the Fourteenth Amendment. However, while decision gave women autonomy during the first trimester of pregnancy, different levels of state interest for the second and third trimesters were allowed.   Facts of the Case   In 1969, Texan Norma McCorvey was a poor, working class 22-year-old woman, unmarried and looking to end an unwanted pregnancy. But in Texas, abortion was illegal unless it was for the purpose of saving the life of the mother.† She was eventually referred to attorneys Sarah Weddington and Linda Coffee, who were looking for a plaintiff to challenge the Texas law. On their advice, McCorvey, using the pseudonym Jane Roe, filed a lawsuit against the Dallas County district attorney Henry Wade, an official responsible for enforcing criminal laws, including anti-abortion statutes. The suit said the law was unconstitutional because it was an invasion of her privacy; she sought the overturn of the law and an injunction so she could go ahead with the abortion.   The district court agreed with McCorvey that the law was unconstitutionally vague and violated her right to privacy under the Ninth and Fourteenth Amendments, but refused to issue an injunction. McCorvey appealed and the Supreme Court agreed to hear the case, along with another case called Doe v. Bolton, lodged against a similar Georgia statute. The Supreme Court case filing occurred on March 3, 1970, when McCorvey was six months pregnant; she eventually gave birth and that child was adopted. She said she wanted to continue with the case to support other womens rights. Arguments for Roe v. Wade began on December 13, 1971. Weddington and Coffee were the plaintiffs lawyers. John Tolle, Jay Floyd, and Robert Flowers were the defendants lawyers. Constitutional Issues   The Roe v. Wade case was argued for the plaintiff Jane Roe on the grounds that the Texas abortion law violated the Fourteenth and Ninth Amendments to the U.S. Constitution. The Due Process Clause of the Fourteenth Amendment guarantees equal protection under the law to all citizens and, in particular, required that laws be clearly written.   Previous cases challenging abortion laws usually cited the Fourteenth Amendment, claiming that the law was not specific enough when a womans life might be threatened by pregnancy and childbirth. However, since attorneys Coffee and Weddington wanted a decision that rested on a pregnant womans right to decide for herself whether or not an abortion was necessary, they based their argument on the Ninth Amendment, which states: The enumeration in the Constitution, of certain rights, shall not be construed to deny or disparage others retained by the people. The framers of the Constitution had recognized that new rights might be developed in years to come and they wanted to be able to protect those rights. The state prepared its case primarily on the basis that a fetus had legal rights, which ought to be protected. The Arguments The argument for the plaintiff Jane Doe stated that, under the U.S. Bill of Rights, a woman has the right to terminate her pregnancy. It is improper for a State to impose on a womans right to privacy in personal, marital, familial, and sexual decisions. There is no case in the Courts history that declares that a fetus- a developing infant in the womb- is a person. Therefore, the fetus cannot be said to have any legal right to life. Because it is unduly intrusive, the Texas law is unconstitutional and should be overturned. The argument for the State rested on its duty to protect prenatal life. The unborn are people, and as such are entitled to protection under the Constitution because life is present at the moment of conception. The Texas law was, therefore, a valid exercise of police powers reserved to the States in order to protect the health and safety of citizens, including the unborn. The law is constitutional and should be upheld. Majority Opinion   On Jan. 22, 1973, the Supreme Court handed down their ruling, holding that a womans right to an abortion falls within the right to privacy protected by the Fourteenth Amendment. The decision gave a woman a right to abortion during the entirety of the pregnancy and defined different levels of state interest for regulating abortion in the second and third trimesters.   In the first trimester, the state (that is, any government) could treat abortion only as a medical decision, leaving medical judgment to the womans physician.In the second trimester (before viability), the states interest was seen as legitimate when it was protecting the health of the mother.After the viability of the fetus (the likely ability of the fetus to survive outside of and separated from the uterus), the potential of human life could be considered as a legitimate state interest. The state could choose to regulate, or even proscribe abortion as long as the life and health of the mother was protected. Majority: Harry A. Blackmun (for The Court), William J. Brennan, Lewis F. Powell Jr., Thurgood Marshall. Concurring: Warren Burger, William Orville Douglas, Potter Stewart Dissenting Opinion In his dissenting opinion, Justice William H. Rehnquist argued that the framers of the Fourteenth Amendment did not intend it to protect a right of privacy, a right which they did not recognize and that they definitely did not intend for it to protect a woman’s decision to have an abortion. Justice Rehnquist further argued that the only right to privacy is that which is protected by the Fourth Amendment’s prohibition of unreasonable searches and seizures. The Ninth Amendment does not apply here.   Finally, he concluded that because this issue required a careful balance of the interests of the woman against the interests of the state, it was not an appropriate decision for the Court to make, but instead was a question that should have been left up to state legislatures to resolve. Dissenting: William H. Rehnquist (for The Court), Byron R. White The Impact The Texas statute was struck down as a whole, and further, Roe v. Wade legalized abortion in the United States, which was not legal at all in many states and was limited by law in others. All state laws limiting womens access to abortions during the first trimester of pregnancy were invalidated by the Roe v. Wade decision. State laws limiting such access during the second trimester were upheld only when the restrictions were for the purpose of protecting the health of the pregnant woman.   As for Norma McCorvey, four days after the decision, she publicly identified herself as Jane Roe. Living in a happy lesbian relationship in Dallas, she stayed relatively unknown until 1983, when she began volunteering at a womens health center. As an activist, she eventually helped establish the Jane Roe Foundation and the Jane Roe Womens Center, to help poor Texas women obtain legal abortions.   In 1995, McCorvey connected with a pro-life group and renounced abortion rights, helping co-create a new Texas nonprofit, Roe No More Ministry. Although she continued to live with her partner Connie Gonzalez, she also publicly rejected homosexuality. McCorvey died in 2017.   Sources Greenhouse, Linda, and Reva B. Siegel. Before (and after) Roe V. Wade: New Questions About Backlash. The Yale Law Journal 120.8 (2011): 2028-87. Print.Joffe, Carole. Roe V. Wade at 30: What Are the Prospects for Abortion Provision? Perspectives on Sexual and Reproductive Health 35.1 (2003): 29-33. Print.Klorman, Renee, and Laura Butterbaugh. Roe V. Wade Turns 25. Off Our Backs 28.2 (1998): 14-15. Print.Langer, Emily. Norma McCorvey, Jane Roe of Roe v. Wade decision legalizing abortion nationwide, dies at 69. The Washington Post February 28, 2017.  Ã‚  Prager, Joshua. The Accidental Activist. Vanity Fair Hive February 2013.  Skelton, Chris. Roe v. Wade, 410 U.S. 113 (1973). Justia.  Supreme Court Cases: Roe v. Wade. The Interactive Constitution of the United States. Prentice-Hall 2003.Ziegler, Mary. The Framing of a Right to Choose: Roe V. Wade and the Changing Debate on Abortion Law. Law and History Review 27.2 (2009): 281-330. Print.

10 Tips to Help Stop Cyberbullying

10 Tips to Help Stop Cyberbullying 10 Tips to Help Stop Cyberbullying Sharon J. of Philadelphia PA, USA, was at work when the call came in. Her 6-year-old son was attacked in class by his peer with a pencil. She was horrified. Racing to the school, and then into the nurse’s office she found her terrified little boy with a bandage on his cheek. The nurse said that a little more to the right and the other child would have taken out Sharon’s little boys’ eye. The bully? A six-year-old little girl who wanted what the boy had for lunch instead of what was in her lunch box. The punishment, nothing. That’s right. After meeting with the mother of the little girl and the principal, Sharon was told, â€Å"kids fight†. She was only a little girl with a bad temper. The Statistics This and many other stories like it pour out of elementary, middle and high schools each day. The number of the bullying attacks is astounding. Almost 80% of students in the USA say that they have been bullied at one time or the other. Parents? If you think that since you are sending your precious child off to college that the bullying is finally going to be over, think again, that statistic above represents college age children. Yes, bullying in college is on the rise. Bullies, Bullies, Everywhere We could rattle off some numbers to try to impress upon our readers how many bullies are out there, but they wouldn’t be accurate. Due to embarrassment, shame, or just no-one to tell, many incidents of bullying are never reported. The facts are: Bullying in college will not stop unless the bullies are reported and they pay for their actions. Laws should be passed that punishes the parents as well as the child in incidents of bullying that cause harm to any individual. Bullying in college leads to suicide, depression, and drop-outs. The numbers will continue to rise unless parents, teachers and those being bullied don’t begin to report what is going on. There is a rise in the act of suicide because of cyberbullying in college. Much bullying begins in the home, and this leads to school and college bullying. Many children that are bullied by overbearing parents tend to show the same disregard for their peers on the school playground, on college campuses, and on the Internet. Adult Bullying? Yes, adults bully other adults. Australia reports show that they are #1 when it comes to workplace bullying. A target could be someone in the office that is: Well liked Smart They excel at their jobs Instead of trying to emulate the target a bully will try to manipulate them or sabotage their work. Many adult bullies are just people that do not cope well in society so they hide behind their bullying tactics. With bullies, it’s all about power. College Challenges After considering that there are adults who bully, parents must take the time to talk to their newly adult children on what a bully looks for in an individual target, and ask them if they are the bullies themselves. This conversation must be had if we are to limit the instances of bullying that are infecting our Universities. Most bullies target those who are Passive Submissive The new kid The quiet kid The kid that is not in a clique The kid that seems to always be in class early The kid with the high grades The kid that does not confront anyone or anything Kids of different races are often bullied Bullies in college have also been known to target handicapped persons and the elderly. As horrible as this may seem to be, it is true. They look for those that weaker than themselves. When Your Child is the Bully No parent wants to get the call that their child is being bullied, but no parent wants to be embarrassed to know that their child is the perpetrator of the bullying. Our first reaction is, â€Å"not my sweet innocent child, they couldn’t be so mean†. The one thing parents do know is their child. Sit down with your child and instead of lashing out at them, ask them what happened. Follow some of these suggestions: While listening to your child, only stop them if they are playing the blame game. Let them know you don’t want to hear what happened with other kids, just want part they played in the incident. Tell them that, when you point your finger at someone, 3 fingers are pointing back at you. Play a game of: what if it was you? Encourage them to have empathy for the bullied victim. Children and young adults need to learn empathy at home. If you as a parent always side with your child and never show them where they are wrong, you encourage them to be bullies. There is a poster that reads, â€Å"Children live what they learn†. This is so true, but that does not make you a bad parent. They could have gotten the bad habit of bullying from television or from their peers. Trying to fit in. Talk to them to see why they did what they did. And discuss ways of stopping it from happening again. If the bullying was cyber-bullying, your child should be made to get rid of the pages that were put up, and then make restitution to the individual that they harmed. Get the school involved in the punishment of the child who bullies and the apology to the victim. This should be a sit down of all parties involved. Sometimes this is enough to set a bullying kid straight. If you as a parent of a bully stops this behavior when it arises, bullies can change. Sometimes it’s physical, a mental imbalance, sometimes it can be the influence of violent games they are exposed to Many parents use video games to get their kids out of their hair. If your child has been exposed to years and years of violent games, they will have a violent nature and this could cause bullying. Cyber-Bullying Tips It was bad enough when you had to worry about the playground or the middle school bully, but with the internet providing the perfects storm for kids to bully, how do you cut the throat of this new threat? One thing parents need to do is to get the facts about cyber-bullying. It usually involves more than just one child doing the bullying and it can span over many types of venues. Some of the lethal weapons used to cyber bully are: Instant messages E-mails Posting pictures of your child without their, or your, permission Stealing your kid’s passwords and sending false messages on social media When your child is attacked by many on social many, this is called attack by proxy. This can be super dangerous because they can have their identity stolen and placed in porn sites without their knowing. The bullies will also post their private addresses and phone numbers. The reasons they do this is beyond one reason, but some are: They don’t think of the consequences of their actions, or They think they are getting back at the victim for some reason,   and   this person doesn’t see themselves as a bully. What Can Parents and Educators Do? First and foremost, have in place a set of guidelines and laws that address bullying behavior, and make serious consequences stick when bullying is observed and acknowledged. Also promote the following: An inclusive atmosphere campus wide. When students are more connected to one another there are less instances of bullying. Have in place policies based on bullying. If they are not in the student handbook, have the handbook redone to reflect the policies. Start groups such as writing groups where students can express what is going on with them in the college community. This gives students a voice. With this   college writing service, start some type of contest for student essays on bullying. Have a reporting place that students feel safe to tell on suspected bullies, confidentially. No student like to feel like a snitch, this is one reason for lack of telling. Model how to act by treating all with respect and dignity. Children, and young adults will usually emulate who is leading them. Offer a class on computer ethics. Teach children the importance of not sharing their passwords with anyone. Show them how to keep information that they find online as proof of cyberbullying. Get trained to handle bullying. Anyone on campus that must deal with children directly would do well to have a workshop on how to handle bullies in college. Listen to both sides, don’t pre-judge what you are hearing from one side of the story. Keep an open mind. Do not ignore it or feel that it is a passing situation. If you are told that a student feels threatened, take it seriously. Intervention is key. When something happens take the time to do something about it right away, refer to the policies on bullying and if you need help, get other adults involved. There truly is strength in numbers in a case of bullying. What can Students do? Students often develop cliques in college, and because you want to be   like by your friends,   you may often feel   the need to back them up no   matter what. In the case of bullying, this is not a way to help your friend. It takes a stronger friend to tell a friend that they are wrong when acting a certain way. If your friend decides that they are not going to like you anymore for telling them to do the right thing, then this is not a friend that you need in your life. When you witness someone on campus bullying another student, whether it is your friend or not, don’t join in. Instead try some of the following suggestions: Stay calm- don’t argue with either of them, instead say something like, â€Å"come on we don’t have to be like that, this is not high-school†. Many students in college do not want to be made to look like they are acting like high-schoolers and will stop the behavior, especially if a friend tells them this. If it is your friend, steer them away from the other person, they don’t necessarily have to kiss and make up or anything like that. Everyone is not going to like everyone. If you walk up on a fight, ask bystanders why they are not doing something and stop the fight. Taking one of the people away with you and showing bystanders that   they should get involved. Talk to a person that you know is a bully when you are alone with them. Confront their behavior and ask them why they choose to act that way. Give them reasons that you would not participate in that type of behavior, and if necessary, let them know that if they continue to show that type of behavior you will not be associated with them. If you are afraid of your friend that is a bully. Report them to an authority that will not tell that you reported them. It is better to do something than to wait for the worst to happen. This is just a few of the things that can be done when one is a bully. Cyber bullying has reached a high peak and if we as those on the sidelines don’t do something to correct the behavior in those that practice the bullying, we are just as guilty as they are, if not worse than them. So, if   you see it, report it, step in and   be a part of the   solution, not the problem.

Discuss 3 beliefs of hinduism Essay Example | Topics and Well Written Essays - 250 words

Discuss 3 beliefs of hinduism - Essay Example The Hindus believe in one supreme power. The supreme power is called Brahman and it inspires life. Hindu deity is not limited to Brahman only. Many gods and goddesses exist in Hinduism and are responsible for different aspects of Brahman. An important element with Hindu deity is that there is a trinity. Brahman, Vishnu, and Shiva are godheads that make up the trinity. Dvaita provides that the Supreme Being have a nature of soul and matter. Samsara is the Hinduism belief in the continuous cycle of life. Hindus believe that life repeats itself in a cycle of birth, death, and rebirth. According to this belief, the soul (atman) goes through many lives across different species. The ultimate end of this continuous life cycle is moksha, a state of freedom and salvation united with God. Finally, in Hinduism, an individual’s destiny depends on their karma, the law of causality that stipulates that actions draw proportional

Classic film research Essay Example | Topics and Well Written Essays - 1000 words

Classic film research - Essay Example Within the context, Ang Lee’s film is noteworthy because he does not try to follow Jane Austen’s literary craftsmanship. Instead, the director attempts to unleash his own individual freedom and artistic craftsmanship. Thesis statement: In the film Sense and Sensibility, Ang Lee makes use of film techniques, (importance given to body language and visual symbols), characterization (changes in the individuality of main characters) and theme (appealing to Austen fans and international viewers/youngsters who like romantic comedy genre), to convey the message of understanding female psychology. Plot summary: The film’s plot is closely related to the lives of three daughters in Mr. Dashwood’s family. To be specific, Mr. Dashwood’s death did not crush the cohesion among the family members because Mrs. Dashwood decided to fight against fate. So, they decided to move to another place, named as Devonshire. Gradually, the plot thickens when Marianne’s (M rs. Dashwood’s daughter) affection towards Willoughby become futile. Later, she realizes that Willoughby is a fraud and decides to marry Colonel Brandon. On the other side, Elinor’s affection towards Edward creates internal problems in their families. But in the end, Elinor was proposed by Edward. One can see that the major events in the film are interconnected with the internal affairs of Mr. Dashwood’s family. ... To be specific, he ignored the star value of these mainstream actors and asked them to use their body language to express their emotions. This can satisfy the Austen fans and the western viewers who are interested in melodrama. At the same time, the director was aware that various visual symbols can be used to convey his messages to the international viewers. For instance, the scene in which Elinor is kept alone by her mother and sisters by closing their doors is symbolic of desertion and loneliness. Louise Flavin states that, â€Å"A visual representation of the self-indulgence of â€Å"sensibility† can be read in the scene in which Marianne, her mother, and Margaret go into separate rooms and slam shut the doors, leaving Elinor alone on the step† (47). To be specific, the closed door is symbolic of miscommunication or internal problems in Mr. Dashwood’s family. Besides, the director knew that he must satisfy both the Austen fans and the international viewers. S o, he depended upon film techniques (cinematic techniques) like body language and visual symbols to communicate with his viewers in general. Characters/Characterization: In the film, the director selected Emma Thompson as the main character because she knew the limitations of her leading role. To be specific, Emma Thompson is the mastermind behind the film’s script. She knew that the modern viewers, especially the youngsters, may not accept Jane Austen’s story because the same is not relevant in the modern context. So, she interchanged the behavior traits and beliefs of the main characters, especially the behavior of Elinor and Marianne. Besides, the director chose Kate Winslet as an important character in the film because she was not a familiar actress in 1990s.