Essay on Net Present Value and Ocean Carriers - 613 Words

The Charles H. Kellstadt Graduate School of Business DePaul University FIN 555: Financial Management Prof. Randy Fisher Case Study Questions: Ocean Carriers These questions relate to the Ocean Carriers case in your course packet. You can find the data for this case on the course website in a spreadsheet named: Ocean Carriers Exhibits.xls. This case provides the opportunity to make a capital budgeting decision by using discounted cash flow analysis to make an investment and corporate policy decision. Ocean Carriers is a shipping company evaluating a proposed lease of a ship for a three-year period beginning in 2003. The proposed leasing contract offers very attractive terms, but no ship in Ocean Carrier’s current fleet meets†¦show more content†¦How are your results affected? What do you conclude? Useful Hints: a. You need to be consistent in the treatment of the timing of the cash flows in your analysis. To accomplish this, you should assume that all cash flows occur at the end of the year closest to the actual date of the cash flow, so for example if the case states that a cash flow occur in â€Å"January† or â€Å"early† in a specific year, you should assume that it occurs on Dec-31 of the previous year. This is what makes most sense from a financial perspective, as the Present Value of a cash flow will be almost exactly the same whether it occurred on Dec-31 in one particular year, or Jan-1 the following year, as those two dates are just one day apart. (When there is no mentioning in the case of when within a certain year a cash flow occurs, assume that it occurs at the end of the year.) b. As stated in the case, you should assume that operating costs will grow annually at 1% in real terms. You should however be consistently using nominal cash flows while making the cash flow projections. c. Assume that Ocean Carriers has a sufficiently high taxable income in each year so that any tax shields can be used immediately. d. Assume that the ship is depreciated straight-line for 25 years to a remaining book value ofShow MoreRelatedFinance--Ocean Carriers Inc1365 Words   |  6 PagesIntroduction Ocean Carriers Inc. is a shipping company specializing in the operation of capsizes bulk dry carriers. In January 2001, the vice president of finance for Ocean Carriers was evaluating a contract proposal. In the proposed contract, Ocean Carriers would lease one ship to a client for a three year time frame. The customer would begin utilizing the ship in 2003. In 2001, Ocean Carriers did not have a ship that would meet the needs of this customer, and thus was considering purchasing aRead MoreOcean Carriers829 Words   |  4 PagesOcean Carriers Recommendations and Analysis We have carefully reviewed and analyzed the proposal for Ocean Carriers to lease a ship for a three-year period, beginning in early 2003. Our extensive analysis included considering the cash flows over the lifetime of this investment. We concluded that based on the expected future cash flows of this project the opportunity to take on the contract would not be advantageous for Ocean Carriers. We first considered the future expectations of the spot andRead MoreOcean Carriers613 Words   |  3 PagesOcean Carrier Case Study Summary In order to accept the recently submitted leasing contract proposal, Ocean Carriers would have to purchase a new ship. The purchasing of a new ship is a considerable investment. We have analyzed whether or not Ocean Carriers should make this investment using Free Cash Flow and Net Present Value (NPV) analysis. Given the details of the contract, the forecasted daily time charter rates, and the costs data; we have concluded that Ocean Carriers should not acceptRead MoreOcean Carriers Essays1200 Words   |  5 PagesOcean Carrier Case Study INDEX Case Background ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·3 Dilemma ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·3 Scenarios under different tax rates and years  ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·3 Alternative ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·5 Decision summary ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·5 Appendix Ocean Carrier Case Study * Case Background Mary Linn of Ocean Carriers is evaluating the purchase of a new capesize carrier for a 3-year lease proposed by a motivated customerRead MoreOcean Carriers Case Report Essay1447 Words   |  6 PagesOcean Carriers Case Report Executive Summary Ocean Carriers is evaluating a proposed lease for a ship over three years starting in 2003. Currently, Ocean Carriers does not have any ships that are available to meet this customer demand. This report will assist VP of Finance Mary Lynn to make a decision on whether or not to commission a new carrier and how long to hold on to this asset. Based off a financial analysis using the data Ocean Carriers has provided, the final recommendation is thatRead MoreCase Study: Ocean Carriers1563 Words   |  7 Pageswhich wants a contract of only 3 years. Based on the calculations of the costs of construction against the value of the contract, it is recommended that Ocean Carriers not go ahead with the construction. However, if a strategic alliance can be created with another carrier to lease their vessels, Ocean Carriers should accept the contract. If the strategic alliance is mutual, Ocean Carriers should build the vessel to add on to its own fleet. Key Financial Issues Mary Linn has to deal with the followingRead MoreCase Study1046 Words   |  5 PagesMemorandum To: CEO, Ocean Carriers Re: Ocean Carriers Capital Budgeting Mary Linn, Vice President of Finance, has been approached by a potential customer with a proposed lease of a ship for a three-year period, beginning in early 2003. The terms are very attractive but we currently do not have a ship that meets this customer’s needs. Ms. Linn has asked Group 4 to research three proposed scenarios to determine whether or not commissioning a new capesize carrier for this customer willRead MoreOcean Carriers751 Words   |  4 PagesCase 1: Ocean Carriers We think that daily spot hire rate will likely decrease next year. There are two reasons. First, there are 63 new vessels scheduled for delivery in 2001 to increase the supply of vessel and only few old vessels need to be retired, while the demand will not increase because imports of iron ore and coal would remain stagnant over next two years. Second, exhibit 5 shows that avg. spot rate of 2000 was higher than the rate of previous years and avg. 3-yr charter rate. In additionRead MoreA Case Study Of Ocean Carriers Essay1425 Words   |  6 PagesA CASE STUDY OF OCEAN CARRIERS EXECUTIVE SUMMARY Ocean Carriers, a shipping company, is evaluating a proposed lease for a ship over three years starting in year 2003. Currently, Ocean Carriers has no available ship that meets the customer’s requirement, because the vessels available in Ocean Carriers fleet are either on lease or are too small for the required purpose. The goal of this report is to assist the Vice President of Finance of Ocean Carriers, Mary Lynn to make a decision on whether or notRead MoreOcean Carriers2562 Words   |  11 PagesOcean Carriers Inc. was approached in January of 2001 with a contract proposal for the leasing of one of their ships for a term of 3 years beginning in 2003. Ocean Carriers currently has no ship to accommodate the customer. To commission the construction of a new vessel would take 2 years from start to completion. The average rate in the spot market is $22,000 per day. Ocean Carriers deployed a younger fleet than average carriers and generally earned a 15% premium over the aver age daily rate

William Shakespeare s Twelfth Night - 1507 Words

Twelfth Night is a dramatic comedy which revolves around the classic Shakespearean traits of comedy, which are difficult to categorise but generally identifiable in that they often contain dazzling word play, irony, and a greater emphasis on situations than characters. While in many ways the play is a celebration of social upheaval through its characters, the play is very much characteristic to typical conventions seen in Shakespeare’s comedies when it’s identifying features are considered. By exploring the role of Malvolio within the play, it is evident of the subversive role he plays. Malvolio‘s character is introduced as one who feels he is able to obtain the hand of Olivia, who in the context of the play is only a steward let alone nobility, the social ambition is subversive for him to try and alter an establish social order of the court. Maria says that sometimes he is a kind of puritan, which aligns Malvolio with the religious group despised for its opposit ion to the theatre, winter festivals, and other forms of entertainment. The significance of this comparison of Malvolio and a Puritan may be Shakespeare’s attack on the rising ideology of strict social order, so by skewing the social order in which characters are portrayed he is able to recreate an environment which revolves around the Twelfth Night tradition where ‘roles are reversed’. Furthermore, Malvolio is the most socially ambitious character, as he is commanding of the Knights Sir Toby and Sir Andrew,Show MoreRelatedWilliam Shakespeare s Twelfth Night2005 Words   |  9 Pagesrole that gender plays in Shakespeare’s work. Focus on Twelfth Night or King Lear—or discuss both plays together. Do you see these patterns repeated? 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The play centres on the twins Viola and Sebastian, who are separated duringRead MoreWilliam Shakespeare s Twelfth Night947 Words   |  4 PagesLove affection Recently, I’ve been reading an intriguing play, Twelfth Night, which was written by William Shakespeare. What interests me in this play most is the fact that there are a lot of love interests. Duke Orsino is greatly attracted to a gentlewoman called Olivia. However, despite his attempts to court her, she rejects his approaches as she claims to be in a period of mourning for her dead brother which has been going on for seven years. Olivia forms a tight friendship with Viola, a womanRead MoreWilliam Shakespeare s Twelfth Night Essay2147 Words   |  9 Pagesaffection for another person,† love takes on many forms throughout life and literature (Merriam-Webster). Through its passionate drama and witty repartee, Twelfth Night, by William Shakespeare, explores the intricate, and often complicated, realm of interpersonal love. By tracing the intertwining storylines of four unique characters, Shakespeare communicates the futility of self-love, the desperation of hopeless love, and the immeasurable virtue of selfless love. An after-effect of human’s sinfulRead MoreWilliam Shakespeare s Twelfth Night1436 Words   |  6 PagesWilliam Shakespeare is perhaps one of the most famous writers of English literature. His writings and plays have touched the lives of many people. At some point in our lives, whether we are aware of it or not, we have all come across a poem, play or perhaps even an old adage that was written by William Shakespeare that has captured our attention. I still remember the very first time I read Romeo and Juliet in high school. The story was one of the most memorable pieces of literature that I recallRead MoreWilliam Shakespeare s Twelfth Night1502 Words   |  7 PagesThe very ï ¬ rst word following the dramatis personae in the text of William Shakespeare s comedy, Twelfth Night, or What You Will, is Music. The first thing that playgoers hear at the beginning is music. This music is being played for a duke, a powerful lord residing over the setting of all the characters. He is surrounded by other lords and his attendant, Curio. The duke, Orsino, cannot help but comment: If music be the food of love, play on, Give me excess of itRead MoreWilliam Shakespeare s Twelfth Night1155 Words   |  5 Pagesmany aspects. Sometimes they may try to force people to act upon certain rules that define their place in society. They often try to meet expectations that society has made for them based on gender and social status. William Shakespeare reinforces these ideas in his play Twelfth Night, which introduces many meaningful messages about situations that still occur in society today. He clearly develops important themes worthy of analysis. A few of these strong themes are about stereotypes and society’sRead MoreWilliam Shakespeare s Twelfth Night1218 Words   |  5 PagesTwelfth Night, a romantic piece by William Shakespeare expresses a complex love triangle in the village of Illyria. One of the primary protagonists, Viola is washed up onto the shores during violent storms that separate her and her biological twin brother Sebastian. Viola is uncertain if her brother Sebastian survived. It is a coincidence, that the tragic shipwreck carried Viola to the enemy state (Illyria). Unfortunately, this forces the character to go into disguise in order to survive on the maleRead MoreWilliam Shakespeare s Twelfth Night1979 Words   |  8 Pageshas died. This is extremely emotionally tolling both on the nurses and the patients and lying seems like a kinder option. A situation such as this one would be deception to gain something but is helping the person being lied to. In William Shakespeare s Twelfth Night, one main characters, Viola, wakes up on the shores of Illyria after a shipwreck in which her brother has presumably died. She formulates a plan to work for the Duke, Orsino who is hopelessly in love with the sought-after Olivia. ThisRead MoreWilliam Shakespeare s Twelfth Night1106 Words   |  5 Pagescharacters. Before movies, people learned about love in literature. Even in the old literature, love was a common theme. In Shakespeare’s play â€Å"Twelfth Nightâ⠂¬ , different types of love between the characters are investigated. Each of the characters’ relationships play a role in the development of the story. The first and main type of love in â€Å"Twelfth Night is true love. The story’s plot is driven by the complicated love triangle between Orsino, Viola, and Olivia. However, Viola’s love is the only true

Role of Key Players and Labour Management

Question: Discuss about the Role of Key Players and Labour Management. Answer: Introduction: Labour Management Relations (LMR), also known as industrial relations, refer to the interactive system between employees, trade unions, employers and the government that creates governing rules for these relationships as well as the study of the same(Trebilock, 1998). A sturdy industrial relations system ensures a harmonious and cooperative relationship among all parties involved so as to create a conducive environment for economic efficiency(de Silva). It blends societal value, such as freedom of association, and techniques, including negotiation methods, to achieve this(Trebilock, 1998). An LMR system is necessary to address the various issues arising in the labour industry; these include issues on management policies, working conditions, and inter-personal issues. Questions of wage increments, recruitment and retrenchment, indiscipline, working hours, retirement among others can only be adequately tackled when a good LMR system is in place. The most common features of these systems include; freedom of association, protection from discrimination, right to strike among others. In Singapore, the LMR system is tripartite led by are the Ministry of Manpower (MOM), the National Trades Union Congress (NTUC) and the Singapore National Employers Federation (SNEF). These institutions collaborate to tackle the above-mentioned issues so as to ensure Singapore can maintain its competitive advantage. The National Wages Council also plays the role of recommending wage guidelines to all these actors to ensure uniformity and flexibility. The following report will analyse the roles played by these actors and their significance to the quest for competitive advantage in Singapore. An Analysis of the Role of Key Players Employees, their representatives (trade unions), employers and the government make up the key players in any LMR system. In Singapore, the system is tripartite; that is, a collaboration between workers, the government and employers(Min, 2012). The key partners in this collaboration are the Ministry of Manpower (MOM), the National Trades Union Congress (NTUC) and the Singapore National Employers Federation (SNEF)(MOM, 2016). It is through this concept of tripartism that Singapore has maintained competitive advantage and a long streak of harmony in its labour market. The collaboration ensures re-creation of employment, an effective retirement age, training of workers, proper employment policies and a versatile wage structure(MOM, 2016). Ministry of Manpower (MOM) In Singapore, Manpower is the only resource as well as a restricting component towards growth and could as well become a hindrance to new investments and business growth(NAS). The aim of establishing this ministry was to rely on the involvement and contribution of the labour crusade and employers unions to form and implement guidelines aimed at strengthening the tripartite model. It represents the government in the tripartite collaboration and as such takes on the role of custodian of labour and economic planner(NAS)(Geocities). The Ministry of Manpowers roles include: planning human resources to sustain competitive advantage, constant training of workers, ensuring industrial relations are amicable, luring foreign manpower and regulating its admission and managing foreign workers as they offer their services in Singapore, as well as providing a friendly, effective and efficient welfare structure suitable for workers in the country(NAS). By carrying out its obligations, MOM creates a national framework for other agencies and parties in the industry to follow as they perform their day to day activities. National Trade Unions Congress (NTUC) A trade union is any temporary or permanent organisation of workers with the aim of promoting industrial relations, improving workplace conditions and increasing productivity(Trade Unions Act, 1941). The NTUC in Singapore is at the centre of the Labour Movement, which is made up of fifty-eight partner unions, two offshoot associations, eleven social enterprises, six allied organisations as well as an expanding ecosystem of U Associates and enterprise partners. It is the umbrella body for trade unions and other professional associations with the aim of enhancing workers social status so as to maintain the countrys competitiveness(NTUC, 2017). NTUC promotes good industrial relations by working closely with MOM and SNEF to ensure a conducive business environment. It also works to ensure employee grievances are handled correctly by representing them where required and utilising collective bargaining agreements to get better employment conditions for members. Additionally, this body plays the role of ensuring proper working conditions and the improvement of workers quality of life through various programmes such as cooperatives, the Workplace Health Programme and the Employment Assistance Programme. All these efforts go into increasing productivity which is to the benefit of all parties involved(Geocities). Singapore National Employers Federation (SNEF) Inaugurated in 1980, SNEF is an association of employers driven by the objective to preserve industrial amity and assist employers to achieve success in their employment policies, so as to increase productivity, competitive advantage and the standard of their employees' work life. It garners the support of over two thousand businesses and has been very diligent in enabling the tripartite partnership among the Government, employers and unions(UWEEI, 2010). Its roles are highlighted as follows(SNEF, 2017); The representation of the primary concerns of employers in any national forums or committees that are tripartite. To provide expert advice and any consultation where needed on issues or regulations, policies or tripartite guidelines to businesses. To update employers on recent significant developments in policies affecting labour, employment or manpower through meetings, briefings or other available platforms. To offer programmed through the Training Institute and other productivity programmes so as to equip employers with the knowledge to grow a strong and ambitious labour force. The federation is tasked with assisting employers to create a comprehensive and growing workforce through programmes such as; WorkPro, which focus on workplace health and safety, quality of employee life among others. SNEF is also expected to avail employers with competitive, expedient and relevant research and information on current employment trends so as to ensure they keep up their competitive edge. National Wages Council (NWC) The NWC was established out of necessity in 1972 in Singapore as since then it has played a key role in harmonising the tripartite relationship that is the baseline for Singapores competitive success(Lee, 2013). Mr Lee Kuan Yew credited the National Wages Council with strengthening and nurturing tripartism in Singapore over the years by considering and developing guidelines on wages to be implemented by the relevant players; he refered to tripartism as a distinctive system that greatly contributed to Singapores competitive edge(Yew, 2013). The NWC is tasked with the role of formulating guidelines for wages which should go hand in hand with long-term economic growth so as to ensure continued economic and social development in Singapore and maintain its competitive advantage in the labour market(STF, 2017). It formulates these guidelines by taking into account productivity, employment situations, public opinion, international competitiveness as well as economic expansion at the time. These guidelines are then used as references as well as negotiation guidelines in matters of employee wages by the various parties in the labour market. An Analysis of Singapores Competitive Advantage through LMR Competitive advantage refers to the supremacy an organisation gains over its rivals by providing similarly valued commodities at a lower price or higher prices for greater value established through uniqueness(Patwardhan, 2016). Where a company experiences profits higher than those within the industry after matching its core competencies to the available opportunities, it is said to have achieved competitive advantage. In order to achieve competitive advantage, it is important for all key players to ensure they take make strategic decisions in exercising their roles in the industrial relations system(Patwardhan, 2016). As aforementioned, Singapores competitiveness depends on the effectiveness of its tripartite model. As a key player in this model, MOM has contributed to achieving competitive advantage by formulating and implementing policies that ease labour relations, promote employee rights and safety in the workplace, regulating foreign manpower supply and promoting tripartite programmes(Gwee, 2013). The ministry has been able to achieve success in ensuring competitiveness through strategy alignment, innovation, development of core strengths and the competency and commitment of members(MOM, 2011). The government is however faced with the challenge of regulating foreign participation in the labour market in a balanced manner that ensures economic growth and benefits to all parties, Additionally, the aspect of globalisation poses a challenge as there is less control over economic planning which results in the need to change policies, albeit reluctantly, to maintain competitiveness. Competition for investments can also create challenges in securing employee rights. Additionally, NTUC as a key player in Singapores labour management relations system plays a key role in achieving competitive advantage. It has been previously mentioned that workers are Singapores most important, if not only, resource(NAS). As such, ensuring they are healthy and have quality life is paramount to achieving competitive advantage. Well cared for workers are highly productive and as such highly profitable. As a trade union, NTUC ensures this through health programmes, collective bargaining, pushing for legislation that ensures workplace safety among other employment conditions(Geocities). However, a challenge arises from the symbiotic relationship between the ruling Peoples Action Party (PAP) and the NTUC(Export.gov, 2016). This relationship is close to the extent that once can say the views of the NTUC reflect those of the PAP(Lepoer, 1989). This relationship means the independence of the union is in question and as such employee rights can be compromised to maintain good relations with the government. In 2012, four Chinese drivers were held and charged with instigating a strike to protest poor living conditions and low wages. Additionally, Singapore has no laws that prohibit antiunion discrimination or retaliation on strikers(Export.gov, 2016). It is possible that if the NTUC had a more independent relationship with the ruling party it would be able to better advocate for employee rights such as these and as such boost productivity leading to a greater competitive advantage. SNEF, as a player in the tripartite model, contributes to the quest for competitive advantage by offering programs such as Sapphire that help employers to transform workplaces to boost competitive advantage(SNEF, 2017). These programmes assist employers to tackle the issues of age, proper HR policies to boost employee productivity, changes in skill and requirements in the workforce, foreign manpower as well as technology. Ensuring employers are well equipped to deal with these and more issues goes a long way in achieving competitive advantage for the country as a whole. As aforementioned, the NWC has played a major role in strengthening the tripartite relationship that is key to Singapores competitive success. Its wage recommendations, though not binding to members of the model, have been widely implemented and referenced by both unionised and non-unionised companies(Export.gov, 2016). This creates a sense of uniformity which is key for ensuring harmony in the business environment. The guidelines it provides are geared to allow for flexibility in wage negotiations as well as speedy wage reforms so that wage increments are reflective pf the economys performance(STF, 2017). Flexibility is key as it enables companies to adjust responsively to the dynamic business environment thus ensuring the country remains globally competitive. Conclusion This report was commissioned to identify the role played by Singapores key participants of the industrial relations system in achieving competitive advantage. It has succeeded in identifying the tripartite model that has been the backbone of this system and the key to its competitive success. This model, as aforementioned encapsulates the collaboration of workers, employers, unions and the government in the labour industry. In Singapore, this collaboration is through MOM, NTUC and SNEF. However, as identified, wages play an important role in easing this relationship especially in Singapore where the sole resource is manpower. As such, the NWC also plays a key role in ensuring the three bodies achieve their objective by setting out guidelines for wages. The analysis of the role played by these organisations shoes that they face various challenges in achieving their goal by way of factors such as globalisation, foreign manpower, technology among others. However, it is evident that so f ar, and well into the future, the key players of Singapores LMR system will continue to play a significant role in ensuring the countrys competitive advantage. References Abbott, K. (2006). A Review of Employment Theories and Their Application. Problems and Perspectives in Management, 187-199. Blum, A. A. (1993). Labour-Management Relations in Singapore: A Brief Analysis. Indian Journal of Industrial Relations, 228-235. de Silva, S. (n.d.). Elements of a Sound Industrial Relations System. Bangkok: ILO. Export.gov. (2016, June 3). Singapore Labour. Retrieved from Export.gov: https://www.export.gov/article?id=Singapore-Labor Geocities. (n.d.). The Role of Trade Unions. Retrieved from GEOCITIES: https://www.geocities.ws/michi190898/erminor.pdf Gwee, J. (2013). Case Studies in Public Governance. Singapore: Routledge. HR Law Academy. (2017). Industrial Relations Institutions, Processes and Practices in Singapore. Retrieved from HR Law Academy: https://www.hrlawacademy.com.sg/workshops/industrial-relations-institutions-processes-practices-singapore/ Lee, T. C. (2013). The Story of NWC: 40 years of Tripartite Commitment and Partnership. Singapore: Straits Times Press. Leggett, C. (2005). The Fourth Transformation of Singapore's Industrial Relations. AIRAAZ, 347-356. Lepoer, B. L. (1989). Singapore: A County Study Labour. Retrieved from Country Studies: https://countrystudies.us/singapore/34.htm Macdonald, D. (1997). Industrial Relations and Globalisation Challenges for Employers and their Organisations. Turin: International Labour Organisation (ILO). Min, S. T. (2012, August). The Future of Tripartism in Singapore: Concentration or Dissonance? Retrieved from Civil Service College: https://www.cscollege.gov.sg/Knowledge/Ethos/Issue%2011%20August%202012/Pages/The%20Future%20of%20Tripartism%20in%20Singapore%20Concertation%20or%20Dissonance.aspx MOM. (2011). MOM SQA Executive Summary. Singapore: MOM. MOM. (2016, May 17). Industrial Relations. Retrieved from Ministry of Manpower: https://www.mom.gov.sg/employment-practices/trade-unions/industrial-relations MOM. (2016, October 27). What is Tripartism? Retrieved from Ministry of Manpower: https://www.mom.gov.sg/employment-practices/tripartism-in-singapore/what-is-tripartism NAS. (n.d.). Ministry of Power. Retrieved from National Archives of Singapore: https://www.nas.gov.sg/archivesonline/speeches/view-html?filename=1998022502.htm NTUC. (2017). International Relations Landscape in Singapore. Retrieved from National Trade Union Congress: https://www.ntuc.org.sg/wps/portal/up2/home/industrialrelations/irlandscapeinsingapore NTUC. (2017). Who We Are: NTUC. Retrieved from National Trade Unions Congress: https://www.ntuc.org.sg/wps/portal/up2/home/aboutntuc Patwardhan, V. (2016, March 13). Strategic Industrial Relations for Competitive Advantage. Retrieved from Vivek's World: https://vivekvsp.com/2016/03/strategic-industrial-relations-for-competitive-advantage/ Rowley, C. (2005). Human Resource Management in the Asia Pacific Region: Convergence Questioned. London: Frank Cass. SNEF. (2017). About: SNEF. Retrieved from Singapore National Employers Federation: https://www.snef.org.sg/scripts/cgiip.exe/WService=SNEF/ccms.r?pageID=122#.WI-mdn_CdMQ STF. (2017). National Wages Council. Retrieved from Singapore Tripartism Forum: https://www.tripartism.sg/page/National-Wages-Council/ Tan, E. K. (2011, November 4). Tripartism and Industrial Peace in Singapore. Retrieved from If Singaporeans Stopped to Think: https://ifonlysingaporeans.blogspot.co.ke/2011/11/tripartism-and-industrial-peace-in.html Trade Unions Act. (1941). Singapore. Trebilock, A. (1998). Labour Relations and Human Resources Management. ILO Encyclopedia of Occupational Health and Safety. Retrieved from ILO Encyclopedia of Occupational Health and Safety. UWEEI. (2010). Tripartism. Retrieved from United Workers of Electronics Electrical Industries: https://www.uweei.org.sg/wps/portal/uweei/home/aboutus/ourwork/tripartism/!ut/p/a0/04_Sj9CPykssy0xPLMnMz0vMAfGjzOI9PF09Xd08jAzczR0tDTy9DEIdPQwsPcMMjfULsh0VAd03VAM!/ Wong, E. S. (1983). Industrial Relations in Singapore: Challenge for the 1980s. Southeast Asian Affairs, 263-274. Yew, L. K. (2013, July 10). Message by Mr Lee Kuan Yew. In T. C. Lee, The Story of NWC: 40 Years of Tripartite Commitment and Partnership (p. 7). Singapore: Straits Times Press.

That One Evening free essay sample

Evaluate a significant experience or achievement that has special meaning to you. This is a topic I dont even have to think twice about. On April 20, 1996, my mother, her fianc, my grandmother, and I went to Boston. We met up with Mr. Telicki, his wife, and his parents at Northeastern University. It was the most nerve-racking night of my life because I had to do something I am deathly afraid of. When I think of reading something in front of a class, I become all nervous and my hands get sweaty. My face turns many shades of red from embarrassment. But this was nothing compared to reading my essay about someone very important to me in front of a room full of strangers and television cameras. All night I felt like I would lose it. My stomach felt like it had popcorn kernels popping. I couldnt eat a thing and my mother was afraid that I would faint before I even got up to speak. We will write a custom essay sample on That One Evening or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page When it was finally my turn, I felt numb. I read my essay, but hardly realized what I was doing. When I read the last line, I realized what a big thing had just happened. Mr. Telicki is definitely an outstanding teacher, despite other things, and truly deserves to be Educator of the Year. After this last line, there was applause and then a hug from my Educator of the Year. We had our picture taken with Gov. Michael Dukakis, and received plaques. When I looked into Mr. Telickis eyes, I saw how touched he was by this award. And I couldnt be more happy to be involved in this big night for him. During my junior year, I realized that Mr. Telicki was a big part of my education. After having him as my English teacher for two years, I noticed how much he had taught me. Previously I knew nothing about and had little interest in English until he was my teacher. And as an avid reader of The 21st Century, I told myself I should definitely take this opportunity to submit an essay for their contest. Of course I never thought that anything would come from this. I was amazed at the fact that from over 600 entries, only 20 educators would be chosen, and Mr. Telicki was one of them. I was ecstatic at the news, and was very pleased to see the expression of happiness on Mr. Telickis face when I told him the good news. He told me it was a credit to my writing. My ideas were different though. My writing could only be as good as what I wrote about. And all I did was write the truth, that Mr. Telicki was a great teacher. Even though I was very nervous that night, I never once regretted what I did. Id walk over hot coals barefoot if thats what it would take to proclaim that I have a great teacher. And to this day, he is still a big inspiration to me. Teacher of my AP English class, he has given me the knowledge that will greatly be needed for my college experiences. The night of April 20, 1996 will be an experience I shall never forget in all my life. What Mr. Telicki has taught me will be a permanent reminder of that night, and a reminder that we have many great teachers in our school systems. They deserve all the recognition that students are capable of giving. This experience has also proved to me that I should never doubt my abilities. I should never give up. Ill try no matter what, because who knows what the outcome could be.

Heroes and Heroism in Renaissance Literature Essays

Heroes and Heroism in Renaissance Literature Essays Heroes and Heroism in Renaissance Literature Paper Heroes and Heroism in Renaissance Literature Paper Essay Topic: Dr Faustus The Romance Of Tristan The social climate of a time and the associated values and norms will determine how characters are presented as a hero and how others are not. This paper will analyses how heroes are portrayed and how heroism is defined in Renaissance literature. To do so, we will have to look back at two literary periods which influenced the Renaissance significantly, namely the classical epics and poems, and medieval literature. This is necessary as it is impossible to analyses a literary movement without acknowledging its predecessors because art movements are often a reaction to its forerunners. The classical epics, poems, narratives and plays were essential in Ancient Greece and Rome. They were the main source of entertainment and were used to educate the people in these polytheistic societies. The hero in these texts were typically from noble and wealthy descend and they were sometimes portrayed as god-like characters. During these times, people valued ideals such as courage, honor, the warrior code and the importance of preserving the family good name. For example, epic heroes will not take on a fight with a weaker foe and he will respect the honorable heroic code. The characterization and portrayal of the heroes were done in a stereotypical way. A possible reason for this could be the fact that these stories ere part of the oral tradition of telling stories which means that events, characters and plots needed to be relatively simple and easy to remember. A typical protagonist would try to achieve a goal, but would not succeed and was likely to die in the process of trying to achieve it. He or she had one main, tragic flaw which would be his downfall and therefore would lead the hero to a tragic death. As his unlucky fate approaches, the hero will often have a lengthy lamentation where the character reflects on his unfortunate fate, sorrow existence, unjust times and the will of the gods. Examples of these tragic, epic heroes can be found in tragedy plays by classical playwrights such as Sophocles and Euripides and authors such as Virgil and Homer. Characters like Oedipus, Odysseus and Antigen are typical tragic heroes. For example, Antigens tragic flaw is her pride and her unwillingness to accept the rules of the King. She is a good example of a character whose tragic story turned out to be very influential to future authors. As the Classical Era came to an end, new values from the Middle Ages were gradually making their way into literature. The culture was undergoing a change as Christianity came more prominent in society. This religious change had a significant impact on social rules and values and this had a long-lasting influence on literature. Due to the high degree of illiteracy, people relied on monks and other members of the church to write down stories. Coincidently, there were a lot of religious overtones in medieval texts. Early medieval poems such as Beowulf can be seen as transitional texts because both heathen values such as revenge, and some Christian elements such as grieve, are present in the text. Heroes in these early medieval texts could still be noninsured to be epic heroes, they share similar values and norms, but they are no longer noblemen by definition. The epic heroes are simple men, versed in the activities of common life. They are leaders not through class status or wealth or even birth, but through the excellencies of heart and mind and hands. (Norman, 27-28) Marshall Fishwife points out that there is a change in style when it comes to the values that defined the medieval hero (10). In the late medieval romances (such Tristan and Soled) special attention is paid to social, religious and moral codes. The ere wants to be successful on the battlefield but attaches importance to correct behavior at court as well, along with loyalty towards his lord, reverence for women and values such as temperance. Thus, the chivalric hero was born. The transition from the epic hero to the chivalric hero with Christian undertones did not happen overnight, and although they share similarities and values, they are also significantly different. The epic hero will often have to go through a physical combat to win his fight, a chivalric hero undergoes a moral, spiritual combat where he has to accept his ward or fate. The characterization of these heroes is quite similar to the heroes from the classical era. Although the character has flaws and needs to overcome them by going on a quest, the character is still quite medallions. The hero is rather generic in that his values are shared by most other heroes from that time. Main characters in medieval times are often easily put in the category good or bad, and the hero is by definition one of good guys. Examples of medieval heroes are Roland in the Song of Roland, Gain in Sir Gain and the Green Knight and Tristan in Tristan and Soled. In the 14th century the Renaissance started to spread throughout Europe and it changed the way people and artists approached history and art. English literature started to undergo a shift in a new direction in the 1 5th century as writers rediscovered their predecessors from the classical era along with their humanistic views on reality. The Renaissance was a pivotal period in the development towards the more individualistic and humanistic society that we know today. 2 Renaissance literature is at the same time a mixture of different elements from previous literary movements and a reaction against those movements. Much like artists from other art disciplines, authors from that period looked back at great artists from the classical times in Ancient Rome and Greece. They had a great respect for their themes, characters and literary formats such as epic narratives, poems and tragedy plays, and many of these aspects were mimicked or adapted by Renaissance writers. M. A. Did Cesar states in his article Not less but more heroic: The epic task and the Renaissance hero that heirs and rebels both, the Renaissance epic poets created formidable and interesting heroes. ( ) They modified the tradition inconsiderably, liking their poet-figures to their heroes, pulling back from the excesses of heroic energy, internalizing heroism, yet seeking to scale new heights. (69) This shows that Renaissance writers were giving a social commentary about their own society by linking it back to classic literature and by commenting on medieval values. The religious undertones from medieval literature did not disappear completely because religion and Christianity were still an important element of society. But, he Renaissance author did start to incorporate humanistic ideals and values in his texts. These new values were occasionally in contrast with the Christian values and this resulted into interesting, complex characters. Heroes in Renaissance literature can be noblemen, but they do not have to be by definition. A mixture of classical values such as courage and honor with medieval values like chivalry, endurance and patience became the norm and this introduced new views on heroism. The characterization of heroes became much more complex, process driven and realistic. Authors were no longer afraid of having a complex hero with contradictory characteristics and strange motives. The good versus bad profiles became more nuanced and the rise of humanism can be seen as a cause for this. Both epic literature and medieval texts have heroes who are rather straightforward and not that complex in their characterization, but people in the Early Modern times were interested in the minds of individuals, not the generic ideals of a stereotypical hero. To illustrate the influence of classical and medieval heroes on Renaissance heroes, we will look at several examples where these influences and changes in social climate, values and characterization can be perceived. As a first example we will turn to the man who is often considered to be the guarded of English Renaissance literature and theatre, William Shakespeare. Shakespeare has many different kinds of heroes, which forms a challenge for the reader or audience to define which characters are the true heroes and which ones are not. Henry IV part 1 has an interesting historical context as it deals with the rise of the house of Lancaster, which happened 3 approximately two centuries prior to Shakespearean time. The bard sets his play in this setting for it allows him to give a social commentary on the social and political situation of his time without offending any people in particular. When it comes to the hero of the play, it gets a little tricky. There are several possible heroes in the play who are all heroes in their own way. First of all, there is the character of Hotshot. He could be considered a thriving hero by classical, epic standards as he lives an ambitious life and strives towards glory and honor. But it is his obsession with honor and glory that will lead him to his death. This makes him a tragic character instead of a thriving, successful character. Falstaff is a another complex character in the sense that his relationship with Hal changes drastically during the play. At first he is seen as the character who brings comic relief to the play and who is the exact opposite of Hotshot. Where Hotshot is trying to achieve glory and honor, Falstaff doubts the very relevance of honor. Shakespeare is deeply ambivalent about the very possibility of heroism in the political worlds their texts portray. (Lawrence 5). Falstaff challenges the meaning and relevance of honor: Yea, but how if honor prick me off when I come on? How then? Can honor set to a leg? No. Or an arm? No. Or take away the grief of a wound? No. Honor hath no skill in surgery then? No. What is honor? A word. What is that word honor? Air. (V. I. 130-134) This is contrasting the whole idea of honorable and heroic values in the epic and medieval literary tradition, which can either make Falstaff an anti-hero, or a new kind of hero. Even though he is selfish, lazy, dishonest, corrupt and unclean, he is a self- made man. He creates the myth of Falstaff through his witty usage of language. As language and puns are very important in Shakespearean plays, one could argue that he is a new kind of hero. However, when Hal becomes King, their relationship changes. Falstaff is humiliated by Harry and he even gets disowned, these series of vents turn him into a tragic hero. The real, successful hero in the play is Hal who is intelligent, witty and pragmatic. But even Hal is a complicated hero in Henry IV part 1; during the battle of Shrubbery he is seen as a warrior hero who is confident and a true prince of England. However, as the audience gets to know Hal, the audience realizes that he is not fond of life at court. He likes to mingle with the simple men on the street and to get to know them better. He befriends the lazy and unclean Falstaff and to an extent, adopts the simple way of life. But his motives are shrewd; e does this to lower other peoples expectations of him in order to emerge as a real hero when the situation comes for him to step up and be a 4 leader. In a way, he is a self-made man as well; even though he is born in a noble family, he decides to use his own intelligence and analytical skills instead of his inherited nobility to gain peoples loyalty. Important values attached to heroism are intelligence, self-creation and most importantly, honor. Hotshot idealizes it, Falstaff despises it, but Halls view on honor is less extreme. He recognizes its significance and power, but sees that it is not the only ideal to live his life by. He is willing to set aside his honor by befriending Falstaff and other odd characters to win their trust and to become more successful in the end. Did Cesar confirms the idea of Hal as a hero: Shakespearean plausible transmutation of epic, the Henries, the emerging heroic figure is not the single-minded Hotshot, who would pluck honor from the pale-faced moon, but the more restrained prince Hal. (69) Shakespeare shows that a hero is no longer the straight-forward, good person going on a quest and this is emphasized by other authors of Renaissance literature as well: he character of Doctor Faustus in Marlowe The Tragically History of the Life and Death of Doctor Faustus is a person from a high social class and he is an egoistic, foolish and selfish person, but he is also a humanist. So the reader gets a more complex character representation of the hero. Similarly, Millions characterization of Satan in Paradise Lost makes Satan a compelling character because of his ability to overcome his weakness and doubts to achieve his goal. Adam and Eve can be seen as potential moral heroes, but they are not as clear-cut as moral heroes from classical or medieval literature. They are not perfect and their curiosity and vanity are their weaknesses. M. A. Did Cesar says: Milton was by no means the first to think that the tradition was really a challenge. (58) He means that Milton was one of the authors who looked back at epic literature and adapted the conventions to a new time, a new social climate. He found a new kind of heroism within the tradition of heroes from the past. His characters are flawed, but in a more realistic way than before. Another interesting hero in the tradition of renaissance literature is Ironwork in Para Bens Ironwork; The Royal Slave, A True History. This early modern hero is important with regard to the social climate of the time where slave trading was still heavily practiced. Been introduces a new kind of hero and discusses social issues such as gender, slavery, feminism, individualism, race and religion. The hero, Ironwork, is a very ambivalent and complex character who is defined by many contradictions. He is a prince and slave trader which makes him a hero of noble descend, but he becomes a slave during the story. This means he is a prince and a slave at the same time. He is a nobleman and a rebel, aggressive and passive, a warrior and a domestic husband. Furthermore, he is a non-Christian character, but is represented in a Christ-like way. 5 Ironwork is powerful and powerless and this makes him interesting and appealing to the audience (and to the narrator). The narrator describes him with romantic language and by strangely enough, European standards. He does not seem to be like the other slaves as he has different physical characteristics, he is educated, knows many languages, etc. His face was not of that brown rusty black which most of that nation are, but of perfect ebony, or polished Jet. ( ) His nose was rising and Roman, instead of African and flat. His mouth the finest shaped that could be seen; far from those great turned lips which are so natural to the rest of the Negroes. The whole proportion and air of his face was so nobly and exactly formed that, bating his color, there could be nothing in nature more beautiful, agreeable, and handsome. (1139) Ironwork is described as if he were a white and European character. This description can be linked to the status of heroes in epic literature where they were considered nobles and even semi-gods. This is reinforced when he is slaying the tigers and the romantic image of him being a prince in captivity. He embodies values from epic literature such as courage, physical strength and honor, as well as medieval ideals with respect to chivalry and (pain) endurance. One could argue that Ironwork is two kinds of heroes: the first being Ironwork as a warrior-hero in his African home, the second being Ironwork as a slave in Saurian where he becomes a hero for his endurance and patience. Other elements that make Ironwork a hero are his promise to Indiana that he will never marry another woman because her soul would always be fine, and always young. (1140) and his respects toward her as an equal. Furthermore, he despises the British plantation owners and slave traders because they have no honor. He is, however, not a pacifist. He participates in war and takes 150 slaves in captivity to gift to Indiana as a symbol of his love. He considers war to be an honorable way of conquering and this is similar to epic and early-medieval heroes. This makes him a good blend of an epic and chivalric hero. Mary B. Rose describes this new kind of heroism in the following statement: Ironwork conjuncts the feminine subject position with slavery and compromised agency and presents the combination as the defining condition of heroism, multitudinously idealizing and scrutinizing the heroics of endurance. (100) 6 These examples show that the hero in Renaissance literature is characterized by the mixture of classical, medieval and humanistic ideals. The rise of individualism and humanism made the characters more complex and profiled them as individuals and less as generic, stereotypical heroes. This analysis of heroes in Renaissance literature shows that the political, social and religious contexts can never be underestimated when analyzing literature and that one should always pay attention to preceding tertiary movements when discussing a particular period because it helps us to place a literary work in the right time-frame. Works cited: Been, Para. Ironwork; The Royal Slave.

How Would You Answer This Crazy Interview Question

How Would You Answer This Crazy Interview Question Unless you’re new to the job search game, you’ve probably been asked questions like, â€Å"Where do you see yourself in five years?† or â€Å"What are your best qualities?† You give the answers you rehearsed in front of your mirror- complete with a pageant-winning smile, of course- and everyone moves on. First thing first, make sure to review these hardest interview questions. But if an interviewer really wants to see how you think on your feet, they might surprise you with a moral dilemma. No better way to meet the real you than to get a sense of your most basic priorities, right? A popular anecdote making the rounds, reportedly from a real job application, goes something like this:You’re driving down a dark road, during a wild storm. You drive past a bench, with three people huddled miserably on it, waiting for a bus in the raging weather:An older lady who looks like she’s in distress, and possibly needs medical help.An old friend of yours who once saved your life.The man (or woman) of your dreams. Seriously, love at first sight material.Your tiny car has room for just one passenger (non-negotiable). So†¦ which one do you invite into the car?  If you choose the woman in distress, you’re a hero; if you leave her behind, you could be seen as a first-class heel. Or do you choose your old friend? You owe him a major favor, and you have a personal interest in this guy’s well-being. But then there’s your potential spouse, your possible future.What to do, what to do? You need to offer a well-reasoned response, but you have to do it fast.The winning answer earned the candidate a job offer: I’d get out of the car, and give the keys to my friend. He could drive the sick lady to the hospital, and I’d wait for the bus with the person of my dreams.Clever! So what can this teach us about moral dilemmas in job interviews? Well, for starters, I have yet to see an interview that’s reall y a life-or-death situation, so be creative! They’re testing your ability to think fast and solve problems. The very shrewd answer accomplishes two things:It shows flexible thinking. The candidate can read a number of different outcomes and find a solution that satisfies just about everyone involved.It’s memorable. Your job interview shouldn’t necessarily be an extension of your standup routine, but a bit of humor and smart thinking can make you stand out in a pack of similar candidates.So when you’re preparing for your next interview, be ready for some unorthodox questions. Who knows, your answer could be the next one going viral as â€Å"The best job interview answer ever!†

Recording reality Essay Example | Topics and Well Written Essays - 1250 words

Recording reality - Essay Example Simon Cowel, who was one of the judges of the Pop Idol show quit and launced his own show, the X factor and owned its television rights. However, there was a perceived similarity between the two shows and this created a legal dispute. The only existing difference between the shows is that in Idol, judges only sued to criticize the performances of the contestants, unlike in the X factor where the judges mentors the participants. Participants/ contestants have continued to gain popularity and publicity out of participation in this show. In addition, the winning person gets the prize of a recording contract (Blanco, 2014). The talent show is mainly concerned with locating a potential pop star individual or a group, singing talent, personality and appearance, stage presence and routines of dance, all these are fundamental elements of the participant’s performances. In the initial shows, each contestant performs once in the first show in the presence of some studio audience as well as judges, singing over a pre-recorded form of a backing track. Dancers are also featured in the whole process. Contestants are also allowed to carry with themselves guitars, a piano, or any other singing instrument. The X factor talent show is aimed at improving the lives of participants who have singing talents. Ben Haenow won the X factor and he could not believe it, this experience changed his entire life. Other purposes of the talent show include: Whereas not everyone admits to being a fan of the talent show, its strong appeal has spanned generations from different gender and socio-economic backgrounds. In addition to the purposes of entertainment and growing talents, the show also presents a mass marketing opportunity for businesses and organizations in the UK. Brands pay money in terms of premium for them to reach large audiences on the X factor especially on ITV. Any person of any age and those who believe that they have singing talents are always