A Financial Analysis Of 3m Finance Essay - Free Essay Example

Sample details Pages: 17 Words: 4975 Downloads: 10 Date added: 2017/06/26 Category Finance Essay Type Analytical essay Did you like this example? Currently, 3M operates in more than 65 countries. The company produces a large variety of products, such as: adhesives, abrasives, laminates, passive fire protection, dental products, electronic materials, electronic circuits and optical films. 3M started operating on the North Shore of Lake Superior in Two Harbors, Minnesota in 1902. Don’t waste time! Our writers will create an original "A Financial Analysis Of 3m Finance Essay" essay for you Create order Five businessmen (Henry S. Bryan, Hermon W. Cable, John Dwan, William A. McGonagle, Dr. J. Danley Budd) came together to mine a mineral deposit used for manufacturing grinding-wheels. As it turned out, the deposit didnt have much of a value, so they opted to concentrate on sandpaper products. In 1914, 3M launched its first exclusive product: Three-M-ite cloth. Few other innovative products followed: waterproof sandpaper, masking tape, and the very well known Scotch brand tape. In 1929, 3M decided to expand its business internationally and started operating in Europe. The same year, the companys stock was first traded over the counter. In 1946 the company went public on the New York Stock Exchange (ticker symbol MMM). The company is a component of the Dow Jones Industrial Average and of the SP 500.  [1] 1.2 Company Profile 3M Company is an American transnational enterprise based in Maplewood, Minnesota, and represents one of the major players in the conglomerate industry. Below are presented some of the highlights that compose the companys profile: 3M Co.  [2] 3-M Center St Paul, MN  55144-1000 Index Membership: Dow Jones Composite Dow Industrials SP 100 SP 500 SP 1500 Super Comp Sector: Conglomerates Industry: Conglomerates Employees (last reported count): 74,835 1.2.1 Organizational Structure 3Ms general offices and research laboratories are located in St. Paul, Minnesota. Locally, 3M has nine sales offices and operates 74 manufacturing facilities. Outside the United State, 3M has 148 sales offices and 93 manufacturing .3M owns all of its physical properties.  [3] Key Executive: Bellow, there are presented few of the key people that are currently running this enterprise: Mr. George W. Buckley, Chairman, Chief Executive Officer and President Mr. Patrick D. Campbell, Chief Financial Officer and Senior VP Mr. Inge G. Thulin, Executive VP of International Operations Mr. Brad T. Sauer, Executive VP of Health Care Business Mr. Jean Lobey, Executive VP of Safety Security Protection Services Business.  [4] 2. Major lines of business  [5] 3M serves its customers through six business segments: 1. Consumer and Office (15% of total sales). 3M is providing its customers with a large variety of products such as house cleaning materials and office supplies. Some of the most popular ones are: Post-it ®, Scotch ®, Scotch-Brite ®, FiltreteÃÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¾Ãƒâ€šÃ‚ ¢, O-Cel-OÃÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¾Ãƒâ€šÃ‚ ¢, NexcareÃÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¾Ãƒâ€šÃ‚ ¢, and CommandÃÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¾Ãƒâ€šÃ‚ ¢ 2. Display and Graphics (13.5%). As a top technological innovator, 3M provides its customers with products such as: display enhancement films; reflective materials, graphics, and projection systems. 3. Electro and Communications (9.8%). Due to its continuous innovative efforts, 3M managed to provide solutions for customers in many fields: electrical, electronics and communications. They contribute to reliable sources of electrical power, high-performance electronic devices, and reliable, high sp eeds telecommunications network. 4. Health Care (18.6%). 3M is considered a global leader in medical and oral care products, drug delivery and health information systems, providing its customers with innovative and trustful products that help care professionals improve the quality of care services. 5. Industrial and Transportation (30.8%) The company supplies a large variety of innovative products such as tapes, abrasives, adhesives, specialty materials and filtration systems to different markets: from automotive to aerospace to renewable energy to electronics. 6. Safety, Security and Protection Services (13.8%). 3Mproducts-personal protective equipment, safety and security products, substantially contribute to the safety, security and productivity of people, facilities and systems around the world. 1.3 Operating Strategies 1.3.1 Mission Statements and Management Objectives: The main mission statement and management objectives, as presented in the companys annual report are: Demonstrate uncompromised honesty and integrity in all activities and relationships. Promote individual initiative , innovation and leadership, Establish and maintain a culture dominated by fairness and trust, where respect and responsibility, are valued and recognized. Create a safe workplace for 3M employees. Satisfy customers with high quality products and services. Provide investors with an attractive return. Respect the social and physical environment worldwide. 1.3.2 Business model and Strategies 3M business model is based on the ability to not only develop unique products, but also to manufacture them efficiently and consistently around the world (3M).   [6] 3M is a diversified technology enterprise with an international presence in different businesses, such as: industrial and transportation, healthcare, display and graphics, consumer and office, safety, security and protection services, and electro and communications. The industrial and transportation business includes products such as food and beverage, personal care, and automobiles. Industrial products include polyester, foil, and tape. Transportation sector provides the market with different types of insulation components and catalytic converters. The health care segment produces supplies and equipment for medical and dental use. The display and office business supplies stationary products, and home-improvement products. Besides the already mentioned business sections, 3M also manages a safety segment and an ele ctro and communications segment. In order to remain a respected leader in its field, 3M employs a series of strategies. The company is continuously trying to increasing market share and the popularity of their brands. Also they make significant efforts to maintain existing customers and attract new ones. This is a very important issue considering the number of substitute products currently available on the market. Besides the already mentioned strategies that 3M employs in order to run a successful business, they also practice a very interesting hedging strategy .Instead of concentrating on a single industry, 3M operations are spread over a large variety of sectors. So, at any point in time, the effect of a slow growth sector is counteracted by the prosperity of another sector. Due to this hedging strategy, the company stock price manages to maintain relative stability.  [7] Also, they continue to spend significant amount of funds on RD, which is critical for their image as a leading innovator, pay dividends, buy back stock and raise shareholders equity, the chief aim being the ability to offer a good return to all their investors. This is a solid company, with a very high degree of liquidity in an extremely good financial health. Another strategy that makes 3M well known is there acquisition strategies. On an average, the company performs ten to twenty acquisitions every year. This enables 3M to continuously grow, penetrate new markets and explore new technologies. Other strategies that 3M employs refer to continuous innovation, in order to introduce new products to various markets that company operate in, gaining market share in the existing markets and aiming to become more and more important to the end customers. 1.4 SWOT Analysis SWOT is a strategic planning method used to evaluate the strengths, weaknesses, opportunities and threats involved in a business.  [8] 3M SWOT analysis:  [9] Strengths: The company operates in a large variety of business sectors: industrial and transportation, healthcare, display and graphics, consumer and office, safety, security and protection service, electro and communication. Strong research and development capabilities. (According to 3M 2009 Annual Report, the company spent more than a billion dollars in RD). Multinational presence. The company operates more than 65 countries. Solid financial condition. (A complete Income Statement and Balance Sheet are presented in the annexes). Weaknesses: Low inventory turnover, which impacts inventories and margins. Some key segments are registering inferior performance. Strong and aggressive competitors. Opportunities: Acquisitions in key operating areas. 3M performs an average of 20 acquisitions e very year. Continued global expansion. Healthcare spending levels in the US are increasing. Security concerns caused by a weak US economy, combined with some unfortunate events that are threatening the safety of American people, (9/11/2001, N1H1 virus infection) brings new opportunities for 3M security business. Threats: The fluctuation of commodity and energy prices (increasing).In order to mitigate this risk, the company is engaging in a multitude of forward physical contracts and price agreements. Exchange rates fluctuations. The company operates worldwide, so the exchange rates and any fluctuations of it may negatively impact the companys results. Environmental regulations. People are becoming more and more aware of the importance of respecting the environment. Any new rules and regulation may require additional funds to be invested in order to work green. 1.5 Core competencies A core competence represents the companys collective knowledge about how to coordinate diverse production skills and technologies (C.K. Prahalad and Gary Hamel).  [10] 3M runs an extremely diversified business, spread over numerous sectors: industrial, transportation, display and graphics, security etc. In order to manage and keep all this different types of businesses together, the company holds competencies in substrate, coating and adhesives. Besides possessing these competencies, the company also created a multitude of ways to share and apply them. The result of such combination of technology, skills and knowledge, allows 3M to participate on a multitude of businesses and markets. The literature points out that the core competencies of any company should benefit the end customer of the product and should be very difficult to copy by the competitors. 3M is aware that the stronger the customer perception in recognizing the superiority of their products, the less likely th e threats of substitutes. The company makes continuous efforts to differentiate its products among the multitude of similarities offered by the competitors and their efforts are successful due to the fact that they are supplying high quality, innovative and reliable products at competitive prices. Moreover, it is a companys core competencies that keeps the businesses together. This aspect is crucial for 3M, as the company operates in multiple business sectors, worldwide. It seems that 3M fully understood this concept and its enormous advantages, because they are investing consistently in their core competencies and ability to innovate, the chief aim being to provide the market and the end customers with innovative products that really stand out. 2. Industry analysis 2.1 Industry Definition, Structure and Major Competitors. The Industrial Conglomerate industry consists of large organizations engaged in multiple business lines within the industrial sector, where at least two business lines comprise a substantial portion of the companys total operation (The New York Times, Oct 1, 2010).  [11]  The industrial conglomerate industry contains the following sectors: Basic Materials, Consumer Cyclical, Consumer Non-Cyclical Energy, Health care, Industrials and Transportation, Technology, Telecommunication, Utilities. Exhibit1. Direct Competitor Comparison  [12] MMM AVY DD JNJ Industry Market Cap: 63.58B 4.02B 42.30B 174.16B 9.47B Employees: 74,835 31,300 58,000 115,500 28.26K Qtrly Rev Growth (yoy): 17.70% 15.40% 21.80% 0.60% 14.50% Revenue (ttm): 25.39B 6.31B 30.43B 62.59B 10.28B Gross Margin (ttm): 48.78% 28.26% 29.94% 69.98% 33.80% EBITDA (ttm): 7.03B 695.10M 5.42B 19.70B 1.63B Operating Margin (ttm): 23.18% 6.96% 13.08% 26.90% 12.29% Net Income (ttm): 3.94B 250.90M 3.13B 13.53B N/A EPS (ttm): 5.48 2.37 3.43 4.84 1.92 P/E (ttm): 16.28 16.04 13.60 13.06 19.15 PEG (5 yr expected): 1.28 1.44 1.61 2.09 1.28 P/S (ttm): 2.50 0.63 1.38 2.78 1.27 AVY = Avery Dennison Corporation produces pressure-sensitive materials, office products, tickets, tags, labels, and other converted products. DD = EI DuPont de Nemours Co. (DuPont) operates as a science and technology company worldwide. JNJ =Johnson Johnson engages in the research and development, manufacture, and sale of various products in the health care field worldwide. The com pany operates in three segments: Consumer, Pharmaceutical, and Medical Devices and Diagnostics. Industry = Conglomerates Exhibit2. Comparison between 3M, the Conglomerate Industry and the direct competitors, benchmarked against DOW and SP 500. Source: https://finance.yahoo.com 2.2 Industry profitability and growth. In order to get an idea about the main characteristics of the players in this industry, I have selected few key statistics. The financial indicators listed bellow shows the fact that this are large companies, highly leveraged (most of them), providing the investors with a small to average return. Market Capitalization: 366B Price / Earnings: 13.5 Price / Book: 4.1 Net Profit Margin: 7.5% Price to Free Cash Flow: 27.4 Return on Equity: 12.5% Total Debt / Equity: 242.3 Dividend Yield: 2.4% Exhibit 3. Comparison between the evolution of 3M common stock and the industry. Source: https://finance.yahoo.com 2.3 PEST Analysis of the External Factors affecting the Industry PEST analysis stands for Political, Economic, Social, and Technological analysis and describes a framework of macro-environmental factors used in the environmental scanning component of strategic management.  [13]  Performing such an analysis and applying the findings will give any company a significant competitive advantage. The model identifies four factors that have a major impact on the companys macroeconomic environment:  [14] Political Economical Social Technological Political Factors: Among the most significant political factors that can affect 3Ms business are: tax policies, employment laws, environmental regulations, trade restrictions and tariffs, and political stability. 3M is making all the necessary investments in order to comply with these laws. In 2009, 3M spent around $15 million for projects regarding the protection of the environment. The mentioned funds have provided among other things, pollution control devices at all its properties. Economical Factors: economic growth, interest rates, exchange rates, inflation rate. Due to large geographical presence, and the fact that 63 percent of its revenue is generated from outside the United States, the companys results may be affected by exchange rates and their fluctuation. In order to mitigate this risk, the company engages in a multitude of forward contracts. Also, the Companys business may be negatively affected by other factors, both internal and external that are beyond its control, such as instability and downturns in financial markets or economies in some countries or regions, in which the Company operates. Social Factors: population growth rate, age distribution, health and safety awareness, career attitude. 3M, through its business policies is aiming to create a safe workplace, to encourage individual initiative and innovation in an atmosphere of flexibility, cooperation and trust, promoting a culture where promise keeping, fairness, respect and pers onal accountability are valued, encouraged and recognized.  [15] Technological Factors: RD activities, automation, technology incentives, rate of technological change. Research and development activities constitute an important part of 3Ms business and have been a significant contributor to the companys sales growth. Research, development expenses accounted for $1.2 billion in 2009, $1.4 billion in 2008 and $1.3 billion in 2007.  [16] 2.4 Porters Five Forces Analysis of the Industry Competition Porters five forces is a framework for the industry analysis developed by Michael E. Porter of Harvard Business School in 1979 .The model is based on the idea that competitive advantage came from the ability to earn a return on investment that was better than the average for the industry sector(Thurlby,1998). The model identifies five forces which would impact on an organizations behavior in a competitive market: The rivalry between existing sellers in the market. The threat of new entrants on the market. The threat of substitute products available in the market The bargaining power of the suppliers. The power of the customers in the market. Full comprehensions of each of these five forces and the impact they have on the companys business, provide organizations with the necessary information to enable them to choose the right operating strategy in order to be successful in their market.  [17] 2.4.1. The rivalry between existing sellers in the market The conglomerate industry, although very complex, extending over a multitude of business, seems to be dominated by few key players, and 3M Co is one of them. In order to gain competitive advantage, 3M is aiming to stay ahead of the trend by continuously providing the market with new products and technologies. Given its strong balance sheet, the company is able to react fast to any negative changes in the market (lower the price of its products), in order to maintain existing customers and attract new ones. Moreover, in facing competition the company is offering well differentiated products, well known and trustful brands, the chief aim being extra value added products and services for the end customers. 2.4.2. The Threat of new entrants The threat of new entrants is dictated by the market entry barriers. The entry barriers exist whenever it is difficult or not economically feasible for an outsider to replicate the incumbents position (Porter, 1980b; Sanderson, 1998). Such barrier s refer to: Cost of entry: In order to enter this industry and compete against the existing firms, the cost of capital required would be extremely high. 3M is a well known company, with an aggressive mergers and acquisition strategy, holding an impressive market share. Distribution channels: 3M products are sold through numerous distribution channels, including wholesalers, retailers, and dealers in many countries around the world. The company has established a large and very well defined distribution network, developed through long association with skilled marketing and sales representatives. Cost advantages not related to the size of the company, like contacts and expertise play a major role in the companys performance. Government legislations: for example, introduction of new laws might weaken companys competitive position; 3M had to improve their environmental performance via new environmental, health and safety policies in order to comply with new government standar d and regulations. Many times this requires additional funds, changes into production processes, products, and that some firms may find it difficult to do so without increasing the prices of their products and services. Differentiation: 3M is a well known brand that already gained customer respect and loyalty and the products that represent this company have a high ratio of value to price. 2.4. 3. The Threat of Substitutes Products available on the market Although the threat of substitutes in this sector is high, due to the fact that there is a large number of a substitute product available in the market, 3M products differentiate themselves through superior quality and innovativeness. The firm invests strongly in RD, in order to insure that they deliver extra -added value products, and the existing customers will not be tempted to choose from the many available substitutes. Other aspects that should be considered when trying to mitigate the risk of losing customers to subs titute products refer to: relative price performance of substitute, buyer switching costs, ease of substitution, substandard product, and quality depreciation. 2.4.4. The bargaining power of suppliers In the conglomerate industry, the power of supplier is relatively modest, due to the fact that the companies in this industry are very large corporations. This companies act on an international scale, having access to an increase number of suppliers and the buying is done in bulk, immense quantities. There is still some risk regarding the price fluctuation of commodities, like oil, oil derivatives, energy, due to possible shortage. 3M is trying to mitigate this risk engaging in prices agreements and forward physical contracts. 2.4.5. The bargaining power of buyers. When trying to assess the power of buyers, two aspects need to be considered: size and concentration of the customers correlated with the concentration of the competitors. In the conglomerate industry, the bargai ning power of the buyers is relatively high due to the fact that all the players in the market are targeting the same customers via similar products. Also, the end customers are more and more informed, and their expectations are continuously growing. Another aspect that should be considered in this case is that the cost of switching between suppliers is relatively low. A buyer has many options; therefore 3M makes a continuous effort to insure that their products are permanently aligned with customer preferences and needs. 2.5 Summary The nature of competition in an industry is strongly affected by the above mentioned forces. As a rule we can state that, whenever buyers and suppliers have high degrees of power, the result translates into a high competitive industry. The industry of conglomerate is moderate to high competitiveness, due to the fact that new entries are difficult (high capital requirements), but this effect is counteracted by the fact that the players in this sector are extremely large and diversified corporations, with solid resources and very aggressive financial strategies. 3. Economic Outlook 3.1 Global Outlook There is no doubt that we are on the path of economical recovery, but the speed of things moving in the right direction is slow, considering the severity of the financial crisis. In advanced economies, such as U.S., small improvements in labor markets, housing markets, and corporate bonds market generated some positive developments in the overall economy. In the emerging and developing economies, (such as China, India, and Brazil) the recovery process seems to be much faster. Even among the advanced economies, the recovery process happens at different speeds, depending of the way that the local government has chosen to deal with the crisis. If we compare The United States with Europe or Japan, we see that the American economy is doing much better than the other two. This phenomenon may have something to do with some of the following: fiscal stimulus was larger in US, the nonfinancial corporate sector is less reliant on bank credit, bond markets have improved which stimulated inv estments, and many financial and nonfinancial organizations went radical restructuration and improved productivity. In Japan, due to the appreciation of the yen, the countrys exports feel dramatically, which ultimately impacts the recovery process. Similar situation can be observed in Europe. Some of the economies of this region suffered a major contraction, not only because of the financial crisis, but the real estate too. Overall the economical and financial conditions present themselves as fragile and difficult. There are some signs of recovery, especially in the emerging economies, and is expected that this will help along the recovery process of the advanced economies.  [18] 3.2 Regional outlook Asia is leading the global recovery and the regions contribution to global growth will continue to exceed that of other regions in the next two years, (Source: The International Monetary Fund). China registered 8.4 percent growth last year, and the projections for the next year are similar (9%growth in GDP for 2010). In the region, the GDP has increased 6.8 percent in 2009. The recovery process has been driven by exports combined with low internal demand and ultimately low household consumption. The inflow of capital in the region has increased, stimulating investments and speeding up the recovery process. According to IMF, for the next period of time, Asias main policy challenge will remain to achieve a rebalancing of growth from external to domestic sources. On global level, there is a political and economical issue regarding the Chinese government decision not to appreciate their local currency, and the way this decision is affecting the world trade. Europe, especially the emerging nations, was strongly hit by the financial crisis. In this region the GDP decreased by approximately 4.6 percent in 2009. The projections for 2010 GDP show an increase of 2.3 and 2.2 percent in 2011. The growth rates in most economies in the region will remain slow, due to major contraction in exports and weak capital inflow. Besides the already mentioned factors, other variables such as : high unemployment, real estate crisis, bank restructuring operations, tight credit policies, and high interest rates will also restrain the recovery process. Other regions, such as Latin America and the Caribbean seem to be dealing with the crisis a little bit better than other countries .The last year GDP registered a 2.6 percent drop, and the prognosis for 2010 and 2011 are quite optimistic showing a growth of 3.1 percent and 3.6 percent, respectively. The recovery process is still relatively slow, due to weaker investment and not enough tourism, both important sources of external f inances. The lack of tourism may be explained by high unemployment in United States and other high-income countries. The Middle East and North Africa region experienced, an overall GDP growth slowing to 2.9 percent in 2009. The forecasts for 2010 show an increase in GDP of 3.7 percent in 2010 and 4.4 percent by 2011. These projections regarding the recovery process are based on few assumptions such as: the global demand for oil will increase, and oil prices will stabilize. The financial and economical crisis and their effects were not felt as deep in the region of South Asia. In this area, the GDP registered 5.7 percent growth in 2009. This represented a slowing of growth comparing to the boom period, mainly due to a significant decrease in investments, correlated with low domestic demand. The projections for 2010 and 2011 look optimistic: 6.9 and 7.4 percent respectively. 3.4 Local outlook According to the U.S. Bureau of Economic Analysis (BEA), the US economy is still growing, but at a slower pace than the first quarter of 2010(2.4% versus 3.7% in the first quarter of 2010). Some of the reasons that will restrain the recovery process are the following: The financial institution will need to recover from losses due to loan defaults. In order to boost the recovery process, the government offered numerous stimulus packages. The housing market registered slight improvements, but failed to meet the expectation. The main disruption in the housing sector was caused by a dramatic drop in house prices, and housing starts, which eventually caused an unbalance between demand and supply. As the credit crunch is ameliorating and the unemployment is falling we start to notice a slight improvement in the housing markets. National deficit is large. The state and local government are cutting down on their spending, the only exception being some of the programs aimed to help out households in periods of recession. Programs as such are: Unemployment Insurance Program and the Supplemental Nutrition Assistance Program (Food Stamp Program). Personal income and spending rose in the last year but not significantly. Unemployment is estimated to be 9% for 2010 and continuing to slowly decline from there on. Saving rate also climbed, meaning that the people are still cautious. Household are still dealing with the loss of wealth, relatively tight credit policies and unemployment. Consumer sentiment is better, but lower then thought. Massive equity loss is dampening households consumption. Overall, US economic reports point to a slow growth and the fact that there is still uncertainty. Nevertheless the general belief is that the economy is on the path to recovery, as the worst has passed.  [19] 4. Ten year pro forma forecast In order to forecast 3Ms sales for the next ten years I have taken into consideration the following aspects: Overview of the global, regional and local economic outlook. 3Ms Sales risk factors  [20] Analysis of the companys historical data Underlying Assumptions The previous chapter offers a comprehensive description of the general state of the economy, on both international and national level. At company level, in order to attempt an accurate sale forecast, we have to consider the following risks that can affect the revenue: Companys results are impacted by worldwide economical conditions. The Company operates in more than 65 countries, and therefore the Companys business may be negatively affected by both, internal and external factors, some of them, beyond the companys control: instable financial markets or decline in economic activity in some of the countries or industries in which the Company operates. Foreign currency exchange rates and their fluctua tion may also have a negative impact on the Companys revenue. Because the Companys financial statements are denominated in U.S. dollars and 63 percent of the Companys revenue is coming from outside the United States, the Companys results could be negatively affected if the U.S. dollar appreciates significantly against foreign currencies. The Companys growth objectives are strongly influenced by the timing and market response to its new products, and also the capacity to continually supply the market with innovative and high quality products. The Companys future revenues are influenced by the price and availability of purchased components, raw materials, energy and all other resources that the company needs for everyday operations. Acquisitions, strategic alliances, and all other possible organizational restructuring could affect the companys future revenues. The Companys future revenues may be affected by different laws, rules and regulations regarding product liability, antitrust, or environmental protection. Next step is an analysis of the companys historical data. A complete Income Statement and Balance Sheet for the period under analysis are presented in the annexes. Exhibit4. 3M Sales and Cost of Sales. Historical data And finally, in order to produce the pro forma statements, we would have to base our findings on some underlying assumptions: No disruptions or major economical, financial and political downturns in US and internationally. No shortage in raw material and other components. The company is trying to mitigate this risk by engaging in price agreements and physical future contracts. It is difficult to predict such a shortage and the effects that this would have on the companys results. US economy slowly improving. The worse is over, but there is still uncertainty ahead. Interest rate, tax rate remain constant COGS constant (52% of Sales). Exhibit5. Sales and Cost of Sales Forecast Exhibit6. 3MSales and Cost of sales Starting with 2008 the company has undergone radical restructuring, giving up some activities and also performing certain product moves between its business segments. This was done to ensure perfect allignment with the needs of customers and markets under the curent conditions.Such actions resulted in 64000 people loosing their job in the attempt of cutting costs in order to overcome tough economic challenges.  [21] The financial tsunami, started to significantly affect 3M businees in the third quarter of 2008, resulting in a negative sale growth rate of 8%. As overall economy is improving, 3Ms sales are climbing, but the growth rate remains modest. According to the 2009 Annual Report, the focus for 2010 is to accelerate growt, and gain market share. Due to the the current conditions 3M is presented with the opportunity to continue this strategy and even increase investments in order to gain market share from the competitors. The company has the ability to finance its gr owth with internal funds and therefore is not dependent on external resources that might be diffcult to obtain, and posibly costly too. Mergers and acquisition activities play an important role in the projected growth rate(g), therefore we could state that (g) behaves in the same manner as a step function would. The companys organic growth standalone is relatively modest, but together with acquisition( 10 to 20 acquisition per year), the company delivers an acceptable growth rate. (aproximately 8% yearly , in normal condition. This rate also reflects acquisitions activities). A stronger US economy, will eventually cause the strenghtening of the US dollars(2013-2014). As the company s financial statements are denominated in US dollars, and 63%of its revenue its coming from outside US, this will have a slightly negative impact on the total revenues . The company is employing various hedging strategies in order to reduse the risk of foreign currency fluctuation rates (future cont racts). Starting with 2016, I anticipate visible and sustainable signs of recovery, and by 2018, the company will be reaching the same growth rate it had in 2007, before the major economical and financial crisis hit.

Citizenship Free Essays

The issue that we have been researching and investigating in class is alcohol education in school, so that we can campaign and raise some kind of awareness for alcohol education as a regular lesson in all schools throughout Britain. The reason for this is because we feel and have noticed that young adults in their teen years are drinking regularly on a daily basis and a part of that main reason might actually be the fact that we don’t have any real education to teach us about the dangerous effects of alcohol and this leaves them vulnerable when drinking. Robert Prefer, under of the rehab centre Sober College, said,† Vive seen an increase in risky behavior in young adults over the last year, I think that alcohol education programs should be introduced â€Å". We will write a custom essay sample on Citizenship or any similar topic only for you Order Now Alcohol abuse is becoming an increasing important topic among teenage school students. Although we try to teach students to not to EVER start drinking and that it’s illegal to for a minor to consume alcohol, the reality is that they will be likely to try it before they finish secondary school college. â€Å"Let’s pay Dry. Curry, who is the dean of the College of Public Health at the University of Iowa. You may want to take a look at how you are drinking. If it escalates, you’re at risk, but you can change that now. † I know what most young adults drink for social reasons or because they want to ‘impress’ some people they may know, but they don’t know any of the negative effects that can happen afterwards. Drinking today is much more open than it has been years ago. It’s only because of the numerous equipments that have access to the media and advertisements. Whilst researching the current law regarding alcohol I found out that the teen must be 18 or up before he or she can u or drink alcohol beverages. Lastly, it is against the law for your teenager/sees to possess alcohol on any street, highway, or public place, carry alcohol in a car, or be a passenger in carrying alcohol unless accompanied by parent of legal guardian. The problems that can arise from drinking, can involve around sicknesses, addiction, social behavior and even death! When we buy alcohol we have the responsibility to look after ourselves and not drink way too much but then again we have the right to purchase alcohol at the age of 18. My first argument is about getting behind the wheel while being drunk. Statistics suggest that 60 percent of teenage deaths in car accidents are related to alcohol. Motor vehicle crashes remain the number one cause of death among teens aged 1 5 to 20. A few reasons why a drunk teenager might get behind the wheel is not wanting to get in trouble by calling parents, friends, etc. Another reason can be that the teenage boy or girl might feel that there isn’t another way to get home. I’m pretty sure that teens that get behind the wheel after consuming major amounts of alcohol don’t even think about any of the consequences that can occur. They might also think that is not a big deal and that it’s alright to do if other teens do the same. For all teens, the risk of involvement in a motor vehicle accident is greater than it is for older drivers. Teens that drink and drive are more likely to get into an accident than if their parents drink and drive. In fact, a teenage boy with a . 05 blood alcohol concentration is 18 times more likely to suffer an accident than a teen that does not drink. Also three out of four teen drivers that were killed in a crash as a result from drinking and riving were not wearing their stables. Teens, such as African Americans, are even less likely to wear their settable in the car than their Caucasian friends are. Teens are more likely to participate in dangerous situations and terrible circumstances. I also read studies by SAD that found out 28. Percent of teens from the age of 14-19, rode one or more times in a car with someone who had been drinking as the driver. Half of teen deaths from motor vehicle accidents happen between 3:00 P. M. And midnight. Moreover, 54 percent happen on a Friday, Saturday, or Sunday. Eight teens ii daily as the result of an alcohol related car accident. 1,500 teens, ages 15-20 die in car accidents every year. There is no reason why a teen should drink and drive. We shouldn ’t let teenage peer pressure or other influences affect the decision to not drink and drive. Being part of a teenager is making mistakes and growing up; drunk driving is a mistake that someone may have to carry with themselves for the rest of their life. ‘There is no reason why a teen should drink and drive. There are always other things that can be done rather than getting behind the wheel† says Dry. Tania Doorman from the University of Bath. This argument is telling us we need alcohol education because teenagers from our school shouldn’t be dieing in car accidents, because they weren’t taught anything about risks. Also we need to be more positive and stress that most our of students are responsible and that we are are not worried about them drinking and driving when we really are. Research shows that 1 out of 8 people have sex under the influence of alcohol. Mixing sex with too much alcohol could leave you with more than you earned for. The SE of alcohol can affect anything and it’s very easy to forget about using a condom or taking the pill which could leave you vulnerable to sexually transmitted infections, an unwanted pregnancy or a night you regret with someone that you’re not even attracted to. Choosing to have sex for the first time can make you feel different kinds of emotions. You might feel excited, stressed, scared and nervous all at once. Drinking to deal with these conflicting feelings may be an important factor when people lose their virginity. Like other drugs, alcohol drinking can seem like a good dead if you’re nervous about being naked in front of another person, or worried about ‘getting it right’ in bed. But studies show that nearly one third of teens said they were unhappy with the way they lost their virginity, because they were too drunk. It also doesn’t help that too much alcohol can affect men’s sexual performance. Dry. Joyce Bam of INCH commented on the â€Å"increased and intensified† message in schools concerning the down side of teen sex: â€Å"Given how many of those efforts are going on,† Bam said, â€Å"it is probably making an impact on both abstinence and responsible sexual behavior. † Also, the consequence of not using some kind of birth control pills is that you or your partner could get pregnant. The I-J currently has one of the highest teenage pregnancies. Not using a condom because you’ve been drinking could mean facing parenthood longing before you feel ready. Also, a SACS reporter stated, â€Å"60 percent of college women, who have acquired sexually transmitted diseases, including AIDS and genital herpes, were under the influence of alcohol at the time they had intercourse. Planning ahead is a good idea. If you think hat you’re likely to have sex, stay away from too much alcohol. † This is telling us we need alcohol education because we could warn students about the effects of sex that I have listed above. Another reason why we need alcohol education for this argument is to keep our students safe, make them not do decisions they will regret in the future. They might not have support at home from their parents or guardians but they could rely on us if we had these types of organizations. We could either protect a female student from getting pregnant while alcohol education in BECK is formed or to which would then make us really weak and no one would support our campaign. Adolescents should be the healthiest people on the planet, the â€Å"almost grown ups† still young and full of dreams for the future. But today’s adolescents are a troubled generation. Far from being the healthiest time of life, adolescence is instead a period of risk and vulnerability. According to scientists, bodies that are still growing and undeveloped are the ones that get involved with drinking, drugs and sex. And evidence shows British teenagers are among those exposed to the greatest threats. While puberty takes adolescents into a period of risky behavior powered by their hormones, their brains are still vulnerable to the effects of activities such as drinking and drug taking. Scientist, Jay Square said â€Å"the adolescent brain is handicapped in the rational assessment of risk and prone to â€Å"hot cognitions†. These decisions are influenced by exciting or stressful conditions which adults are better able to get rid of than teens. The modern teenager is taking longer than ever to grow up as social changes have added years to education and delayed marriage. Or basically the average teen is taking longer to ‘settle down’. Eighteen years of age is no longer regarded as the start of adulthood. Fifty years ago, people married and started families at this age. Today over three times more young people are in further education and most spend years in work before marrying and ‘settling down’. US researchers warned I-J researchers last year that heavy drinking during the teenage years, when the brain is still growing, can affect the brain, particularly the development of memory and the ability to tell what is on a map. Adolescents should vive life, and have fun. Diseases from drinking alcohol need to be mentioned in alcohol education, not to scare the students and never make them drink alcohol but to let them know they’re responsible for how much they want to drink and when they feel like doing it. Alcohol metabolism could be explained later on how the body breaks down and eliminates alcohol from the body because everyone’s bodies are different. Our Job would be to let them know everything about what happens after you drink alcohol under-age when you’re brain and other parts of your body are still developing. My last argument is about what happens to your body after you drink a few glasses or shots of alcohol and if you really want all that to happen to you. When you take a drink, about 20 percent of the alcohol is absorbed in your stomach and the remaining 80 percent is absorbed in your small intestine. But usually after the alcohol is absorbed, it enters your bloodstream and is carried throughout your body. As the alcohol acts upon the body, the body is working really hard to remove it. The kidneys and lungs remove about 10 percent of the alcohol in the urine and the How to cite Citizenship, Papers Citizenship Free Essays Citizenship and Friendship is a piece from †Habits of the Heart’, which is written by Robert N. Bellah and associates. This passage talks about how the definition of friendship changes over time in American communities. We will write a custom essay sample on Citizenship or any similar topic only for you Order Now Bellah says that classical ideas of friendship in early America contains three important elements that †Friends must enjoy one another’s company, friends must be useful to one another, and friends must share a common commitment to the good†. According to Bellah, the first two elements still exist at present days, but the third component seems being abandoned by people today. I disagree with Bellah’s idea because I think the third component, sharing a common commitment to the good, is still regarded as an important part of friendship. People reveal the third trait by donating, by volunteering and by agreeing to political stands. (T) Many people donate funds to foreign countries for helping them, and therefore, they establish an international friendship. (R) According to the passage, traditional view of friendship is â€Å"not merely private: they are public, even political,for a civic order†. E)Like Bellah mentions, some people combine resources with only one goal and that is to help others, regardless their backgrounds. (E)For example, in the earthquake in 2008 in China, Japanese Government donated 5,300,000,000 Yen(approximately 5000,000 USD) to the earthquake. It was the second largest donation from all of the foreign countries. As we all know, Japan had aggressed China in World War II. These two countries had a really bad relationship in recent hundred years. However, Japan gave such a great help regardless the political disagreements, when China suffered disasters. Besides Japan donating money, they also sent volunteers , food supplies, shelters and medical attentions. (A) Japan placed the public good ahead of its political conflicts. They developed a friendship by providing resources such as money and volunteers to help china to recover from the earthquake. (C) The third element of friendship is maintained by providing helps without politics standing in the way. (T) People who work together for volunteer can establish a strong friendship. R) †But friendships were by no means confined to local communities in early American society,† Bellah says, â€Å"Particularly where a common cause united them, people of quire different backgrounds could become friends. † (E) The friendship derived from volunteering has a great strength because those volunteers are sharing the common goal, which is to serve for the society. (E)Tracing back to my high school year, I had an experience to be a volunteer to teach kids who could not afford the tuition. At that time, I met one of my best friends. We worked together for several weeks, but we seldom talked to each other. Until one day, we were assigned a work, which was designing an activity for children’s day. We became close through discussing and working on the assignment. We started chatting about the reason we came for the volunteer and the view for the future. Surprisingly, she understand my thought better than any of my friends. I felt our heart was so close in touch. We kept contacting each other after the volunteer and exchanged our views frequently. She was acting like a soulmate in life. (A)I think the reason we can be so close is because we have the same value and same concern to the public good. Volunteer is the linkage bind us together. C)Volunteering shows that the third component of friendship is important for people to establish a friendship and maintain the strength of that friendship. (T) In front of political disagreement, people choose to put common concern for the public good ahead of any individual conflicts. (R)The passage says †Their reconciliation after a period of bitter estrangement illustrates their capacity to put their common concern for the public good ahead of their Partisan disagreements† (e) Some people choose to abandon their original political stand and put the common concern on the first place for benefiting the nation. E)Here, I want to talk about Barack Obama and Hilary Clinton. This two people were both candidates for the election five years ago. Even though they were both in Democratic party, they emphasized the different point of views. Obama and Clinton disagreed on few issues since 2005. For instance, Obama voted the Mandate, which forces automaker to achieve 40 mile-per-gallon average fuel economy by the year 2017. Meanwhile, Clinton rejected it. Moreover, Clinton voted for using force in Iraq. However, Obama fought against Wars. Cliton and Obama became friends after they work together. I consider Hillary a strong friend. † Obama said in CBS 60’ minutes. (A) Clinton put away her original view and func tioned as a coherent unit with Obama for benefiting the people in America. (C)As a result, Obama and Clinton developed their friendship because they worked for the same goal for their nation. Overall, the third component can be shown by donating, volunteering, and agreeing to political stands. Sharing the same commitment to the good are still one of the most important elements of friendship today. It’s the key of establishing and maintaining a true friendship. How to cite Citizenship, Essay examples Citizenship Free Essays This part of the essay will focus on why citizenship has become such a significant political issue in the UK. It will highlight what citizenship Is, who gets the citizenship and what the problems are that are affecting the country. Citizenship Is about being actively Involved In society; It Is a clear concept concerning migration and legal status which Is formed of having the rights to stay In the country, rights to enter freely and rights to welfare and education. We will write a custom essay sample on Citizenship or any similar topic only for you Order Now Citizenship has become a significant political issue in the UK because of the mass majority of people who grant here from their countries in order to build a life in the I-J. The country is getting over populated with immigrants and eastern European people, these individuals are coming to the country and are taking on work which pays less than the minimum wage which can at times deprive citizens getting Jobs. Doing the life In the UK test to qualify for citizenship has proven to be insignificant due to the Inconsistency of the questions one ought to study: The report Is endorsed by the Revered. Lord Roberts, the Vice-Chalk of the All-Party Parliamentary Group on Migration quote ‘examining the test and Its role In British Immigration policy. My report concluded that the test Is impractical;’ published the first independent and comprehensive report examining the test and its role in British immigration policy. My report concluded that the test is impractical, inconsistent and contains serious gender imbalance rendering it unfit for purpose’ (migrants rights). Furthermore less than the majority even knows how to fluently speak English which invalidates how or what the questions on the SOL version of the life in the UK test teaches, although the government introduced these test to enforce migrants to participate in society it isn’t worked well, these people are studying for the test in order to pass and benefit from what the country has to offer to those who are British citizens. Although the government has been reinforcing new rules and regulation that makes It hard for immigrants to obtain visas and are tougher on Asylum seekers now days, the country Is still growing In migrants who either come and do labor work for low wages which impacts on those skilled workers getting good paid work and those migrants have no sense of dependency, they come to the UK expecting a better life for no hard work NY type of work at all, this is where the political problem occurs. Citizenship By Loretta political issue in the I-J. It will highlight what citizenship is, who gets the citizenship Citizenship is about being actively involved in society; it is a clear concept concerning migration and legal status which is formed of having the rights to stay in the country, significant political issue in the I-J because of the mass majority of people who Doing the life in the UK test to qualify for citizenship has proven to be insignificant due to the inconsistency of the questions one ought to study: The report is endorsed y the Revered. Lord Roberts, the Vice-chair of the All-Party Parliamentary Group on Migration quote ‘examining the test and its role in British immigration policy. My report concluded that the test is impractical;’ published the first independent and what the questions on the SOL version of the life in the I-J test teaches, although government has been reinforcing new rules and regulation that makes it hard for is still growing in migrants who either come and do labor work for low wages which sense of dependency, they come to the I-J expecting a better life for no hard work. How to cite Citizenship, Papers

Johannes Kepler Essays - Copernican Revolution, Astrological Aspects

Johannes Kepler Johannes Kepler was born on December 27, 1571 in Weil der Stadt, Germany. Kepler's grandfather was supposedly from a noble background, and once Mayor of Weil. However, Kepler's father became a mercenary who narrowly avoided the gallows. Kepler's mother, Katherine, was raised by an aunt who was eventually burned as a witch. In later years, Katherine herself was accused of Devil worship, and barely escaped from being burned at the stake. Kepler had six brothers and sisters, three of which, died in infancy. In his youth, Johannes was described as: ...a sickly child, with thin limbs and a large, pasty face surrounded by dark curly hair. He was born with defective eyesight-myopia plus anocular polyopy (multiple vision). His stomach and gall bladder gave constant trouble; he suffered from boils, rashes, and possibly from piles, for he tells us that he could never sit still for any length of time... (Koestler, p 24)From this inauspicious start, Johannes Kepler began his fascinating journey as a pioneer in astronomy. Johannes Kepler graduated from the Faculty of Arts at the University of Tuebingen at the age of twenty, intending to matriculate into the Theological Faculty. It was here that Kepler learned and became an adherent of the heliocentric theory of planetary motion, first developed by the Dutch astronomer Nicolaus Copernicus. In 1594, Kepler left Tuebingen for the University of Graz to become a professor of astronomy. It was here that Kepler realized that figures of the type shown here determine a definite fixed ratio between the sizes of the two circles, provided the triangle has all sides equal, and a different ratio of sizes will occur for a square between the two circles, another for a regular pentagon, and so on. Kepler believed that this could be used to determine the orbits of planets in the solar system. Unfortunately, Kepler proceeded from a false assumption: namely, that the orbits of the planet were circular. Despite the fact that his calculations did not match known planetary data, Kepler presumed that Copernicus's data was in error, and produced this diagram of orbits, where the outer ring represents the orbit of Saturn. Kepler stayed at the University of Graz until 1600, when he was pressured to leave due to his Lutheran faith. Kepler traveled to the observatory of the famed Danish Astronomer and Imperial Mathematician Tycho Brahe, where he became Brahe's assistant. By all accounts, the relationship between the two was strained. We have previously discussed Kepler's upbringing. In contrast, Brahe was from an aristocratic background who shared Kepler's less than scintillating personality. As a result, the two continuously quarreled, and usually failed to resolve their academic and personal differences. However, the two realized that they needed each other. As a result, both learned from each other's writings.Brahe died in 1601, and Kepler assumed his post as imperial mathematicus. In addition, Rudolph II requested his service as court astronomer, which Kepler preformed until Rudolph's death in 1612, During his tenure as court astronomer, Johannes Kepler labored over one of his most impressive works: Astronomia Nova. His primary motivation was to attempt to calculate the orbit of Mars. One offshot of this work was the formulation of the concepts that were eventually known as the first two of Keplers Laws. In 1612, Kepler became provincial mathematician to Linz, in upper Austria. Over the next fourteen years, Kepler published Harmonice Mundi, in which Kepler outlined his third law. Furthermore, he published the Epitome Astronomiae Copernicanae, which combined all of his discoveries together. However, Kepler's personal life was far less successful. His first wife, Barbara, and their two sons died from the fever and small pox in 1612. In 1615, Kepler was excommunicated from the church, and his mother was placed on trial for being a witch.. Despite these tribulations, Kepler completed the Tabulae Rudolfinae in 1625. These tables reduced the mean errors in tables of planetary motion significantly. However, political unrest led in the destruction of his home during a peasant revolt, leaving Kepler without a permanent residence. Johannes Kepler was named the private mathematicus in the newly acquired Duchy of Sagan in 1628. Unfortunately, neither this position nor his previous one was a lucrative profession due to the Thirty Years War. As such,

Shakespeares Play Reading Course Essay Example

Shakespeares Play Reading Course Essay Example Shakespeares Play Reading Course Essay Shakespeares Play Reading Course Essay If by your art, my dearest father, you have(1) Put the wild waters in this roar, allay them.(2) The sky, it seems, would pour down stinking pitch,(3) But that the sea, mounting to the welkins cheek,(4) Dashes the fire out. O, I have suffered(5) With those that I saw suffer: a brave vessel,(6) Who had, no doubt, some noble creature in her,(7) Dashd all to pieces. O, the cry did knock (8) Against my very heart. Poor souls, they perishd.(9) Had I been any god of power, I would(10) Have sunk the sea within the earth or ere(11) It should the good ship so have swallowd and(12) The fraughting souls within her.(13) This is from Act 1, Scene 2 in Shakespeares comedy The Tempest that is set in the island before Prosperos cell. It is the first time two of the main characters in this play, Prospero and Miranda, are introduced to the audience. In this speech by Miranda, she expresses her strong piteous concern for the people suffered from the sea storm created by her father and her affliction caused by this, which gives us a general idea of this girls personality. Meanwhile, it indirectly puts forward the information that the storm is terribly shocking. As the first speech of this scene, besides expressing the speakers feelings, it also acts as a connecting link between the preceding and the following. There are totally 13 lines in this speech. Seven lines, line 3, 6, 7, 8, 9, 11, and 12, are iambic pentameter, while the rest are not. In one way, it implies though Miranda lives in the island for 12 years, she is still well-educated and entertains the ability to speak properly and nobly. On the other hand, the irregular lines suggests that Miranda is not collected at this moment, worrying and depressed about the direful spectacle of the wreck which touched her strong virtue of compassion inmost. The vehemence of care and sorrow for the wreck is not only expressed by the different length of lines, but also by the punctuations which break the original rhythm of the lines, especially in line 5, 8, and 9 in which a new thought begins in the middle of each line after the full stop, not to mention the higher frequency of the use of comma and colon. It is easy to see that the speaker is not playing with words to show her social status but is in a very situation where language is needed as a mean to interact with her father about one serious issue in relation to several peoples lives. The first imperative sentence is a request to her father for allaying the terrible storm. We are informed that the tempest which gives rise to the crisis in the first scene is not a natural disaster but created by some person who has great power to command the element around him, who can put the wild water in the roar, and also allay them. Meanwhile, the female speaker, the daughter of this mysterious person, disapproves this strongly which is shown by the jussive mood she uses in this sentence. The second sentence gives the audience the descriptions of the scenery in the storm, which has been witnessed by Miranda. Personification is used to help represent the horror of the tempest and make audience feel like they are personally on the scene. The sky could, pour down pitch and have cheeks, the sea is mounting and could dash out the fire. These descriptions vividly show audience the awful scene in the tempest, which deepen the image of the storm that the audience has already gotten from the first scene directly by the reaction of the passenger in the ship. It makes the audience possible imagine a scene in their mind: the sky is dark, the sea is roaring, the ship is cracking in the harsh storm Then Shakespeare used the following two sentences that both begin with the exclamation O to express Mirandas great commiserative concerns and internal grief for the ship and the people in it who are suffering from the storm although Miranda does not know who the people are or why her dearest father tries to destroy the ship. This apparently suggests Mirandas kindness and innocence and gives us a general outline of this only female person character in this play. Miranda also personifies the ship in this speech. It is a brave vessel, has some noble creature in her, it is also a good ship. These words accurately represent the hardship of tempest and express the commiserative feelings of the speaker. Miranda is worrying about the lives of the people in the ship and cannot accept the destruction ordered by her dearest father. The last sentence is a long one consisted of four lines. Miranda hopes she was some god of power and then she can Have sunk the sea within the earth or ere and save the ship and people in the sea storm. The wish sounds childish but heartfelt, shows her strong disagreement with her father and by comparison slightly and indirectly blames her father for being so cruel to those people. The first speech given by Miranda clearly indicates that she is a kind and innocent character. From the following passages we can get the consistent information about her. Miranda has been in this island since she was three. Just as she says: I do not know/one of my sex; no womens face remember/Save, from my glass; my own; nor have I seen/more than that I may call man than you, good friend,/And my dear father: how features are abroad,/I am skilless of she know little about the world outside, the evil in the world or even her own familys story. She is noble mistress, the top of the admiration, So perfect and so peerless, are created of every creatures best! it is natural for such a good girl to feel sorry for the people who are suffering and disagree with her father without knowing the reason that he does so to the people in the wreck. As the connection between the preceding and following, on one hand, this passage echoes with the first scene and gives the audience further descriptions of the tempest; on the other hand, it raises some important questions which are very pivotal to the development of the play, such as what kind of people the speakers father is, how they both got to this island, why her father create the tempest, what kind of relationship the people in the ship and them are and so on. These problems arouse the curiosity of audience and make the plot more compact and gripping. In a word, undoubtedly Shakespeare is a great play writer and a master of language, even though this is a ordinary passage in his play, not as famous as TO BE OR NOT TO BE or other classical pieces in his play, from it, we can still be amazed and gasped in admiration by his ability of making good use of every kind of language skills and excellence in putting a wonderful play on stage.

Betters and Bettors

Betters and Bettors Betters and Bettors Betters and Bettors By Mark Nichol Is there a connection between better, which is sometimes employed as a noun, among other parts of speech, and the noun bettor? This post explains their etymological origins and lists and defines related words. Better is primarily an adjective, from Old English bettra (and, previously, betera), meaning â€Å"superior.† It can also mean â€Å"more advantageous or favorable,† â€Å"improved,† or â€Å"greater than half† (as in â€Å"the better part of an hour†). The adjective better pertains to doing something to a greater degree or with higher quality or can replace more (â€Å"She was doing better than twenty miles per hour†) or preferably (â€Å"It’s better left where it is†). As a verb, better means â€Å"make more acceptable or complete† or â€Å"improve on† (as in â€Å"The runner will try to better his personal record in the event†). It also serves as an auxiliary verb, one that supports another verb, as in â€Å"You had better get going,† sometimes with the first verb elided. The noun better means â€Å"advantage† (â€Å"Don’t let him get the better of you†), â€Å"something superior† (â€Å"We expected better of her†), or â€Å"someone of higher rank or status† (â€Å"I was told to respect my betters†). Better is also a variant of bettor, meaning â€Å"someone who makes bets.† The origin of bet, meaning â€Å"wager† (as a noun) or â€Å"wage† (as a verb), is uncertain, but it could be from abet, meaning â€Å"incite† or â€Å"urge on.† More likely, however, it is from the obsolete English word beet, meaning â€Å"make good† and related to better. Either way, it began as criminal slang; the affirming phrase â€Å"You bet† (even more informally, â€Å"You betcha†) is also slang, though not of unsavory origins. Two additional words based on better are betterment, meaning â€Å"an act of becoming or making better† or referring to an instance of property improvement, and the adjective bettermost, meaning â€Å"superior.† Better, however, generally suffices as a comparative that stands between good (which supplanted the Old English word bot, meaning â€Å"advantage†) and the superlative best. (Bot does survive in the phrase â€Å"to boot,† meaning â€Å"in addition.†) Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the Vocabulary category, check our popular posts, or choose a related post below:Masters Degree or Master's Degree?50 Synonyms for â€Å"Idea†5 Tips to Understand Hyphenated Words

OSHA Standards Essay Example | Topics and Well Written Essays - 250 words

OSHA Standards - Essay Example In addition to this the training should be safe for all parties involved and others. Training is supposed to be both theoretical and practical with evaluation of performance. The standard goes ahead to outline the various topics to be covered by operators some being operating instructions, differences between trucks and automobiles, steering and manoeuvring, stability and capacity among others (OSHA, 2011). Operators are also required to undergo refresher training in stances where they are found to perform unsafe operations, near-miss accident situations, a different truck is to be operated, changes in workplace conditions and many others (OSHA, 2011). General evaluation of operators is to be conducted after every three years. Approval should go with certification showing that the operator has undergone training and evaluation. This standard is good in ensuring that accidents and injuries related to powered industrial trucks are minimised. However, it is not an adequate standard basi ng this on certain aspects; refresher training seems to be only necessary in case an operator portrays some level of notable incompetence. It further stipulates that refresher training should be conducted after every three years.

E-commerce Essay Example | Topics and Well Written Essays - 2000 words - 3

E-commerce - Essay Example When utilized properly, it allows companies and organizations to enhance their profitability, move into new markets and also provide the consumers with better services and products. It is due to the advantages of the practice that several enterprises, both small and large, continue to incorporate it into their operations and procedures. By 2005, the e-business revenue exceeded $2 trillion (Laudon & Guercio 2014). This is a strong signal that additional businesses are becoming aware of the opportunities that are available and exploiting them for their own benefits and that of the customers. Some of the brick and motor enterprises which had only physical presence have decided to embrace it to realize the benefits of the innovation (Chaudhury & Kuilboer 2002). It is, however, important to remember that for a brick and motor business to embrace and benefit from e-commerce, it must be ready to counter some of the challenges inherent in the practice. With the right approach, positive outco mes will be realized both in the short term and long term. E-commerce can be defined as a business that is transacted electronically. In most instances, the internet is used (Frieden & Roche 2006). Majority of people take e-commerce to be only about buying commodities over the web. However, it is much more than this. The practice includes purchasing various items from online sellers, online banking services and paying for travel services and accommodation. The basic idea is that there is minimal or no physical contact between the seller and the buyer of the commodity (Graham 2008). This is unlike the brick and motor business model, which requires the buyer to come to the physical location of the commodities and products and buy them or pay for them. Brick and motor businesses rely on traditional selling platforms (Humeau & Jung 2013). This is the same model that Coventry Books has been using. For a customer to transact any business with Coventry