Financial Accounting McGraw-Hill Companies

Question: Discuss about the Financial Accounting for McGraw-Hill Companies. Answer: Journal Entries for the year 2015-16 and 2016-17:- In the Books of ChiHerbal Ltd. Journal Entry Dr. Cr. Date Particulars Amount Amount ($) ($) 1/8/2015 Motor Vehicle 1 A/c. Dr. 126000 Repairs Maintenance A/c. Dr. 1250 To, Cash A/c. 127250 (Being a second-hand motor vehicle purchased and its engine repaired in cash) 30/10/2015 Equipment A/c. Dr. 34000 To, Cash A/c. 34000 (Being an equipment purchased in cash) 31/12/2015 Repairs Maintenance A/c. Dr. 900 To, Cash A/c. 900 (Being transmission of MV1 repaired and oil changed) 30/06/2016 Depreciation on MV1 A/c. Dr. 19800 To Accumulated Depreciation-MV1 A/c. 19800 (Being depreciation charged on MV1) 30/06/2016 Depreciation on Equipment A/c. Dr. 2183 To Accumulated Depreciation-Equipment A/c. 2183 (Being depreciation charged on equipment) 30/06/2016 Income Statement A/c. Dr. 24133 To Depreciation on MV1 A/c. 19800 To Depreciation on Equipment A/c. 2183 To Repairs Maintenance A/c. 2150 (Being depreciation on MV1 equipment and Repairs Maintenance transferred to Income Statement) 13/07/2016 Repairs Maintenance A/c. Dr. 340 To, Cash A/c. 340 (Being damaged bumper of MV1 repaired) 1/12/2016 Depreciation on MV1 A/c. Dr. 9000 To Accumulated Depreciation-MV1 A/c. 9000 (Being depreciation charged on MV1) 1/12/2016 Motor Vehicle -2 A/c. Dr. 272000 Accumulated Depreciation - MV 1 A/c. Dr. 28800 To, Motor Vehicle-1 A/c. 102000 To, Cash A/c. 170000 To, Profit on Sale of Asset A/c. 28800 (Being old motor vehicle exchanged with new motor vehicle, the balance cost of the new one paid in cash) 30/06/2017 Depreciation on MV2 A/c. Dr. 19833 To Accumulated Depreciation-MV2 A/c. 19833 (Being depreciation charged on MV2) 30/06/2017 Depreciation on Equipment A/c. Dr. 3275 To Accumulated Depreciation-Equipment A/c. 3275 (Being depreciation charged on equipment) 30/06/2017 Accumulated Depreciation-Equipment A/c. Dr. 5458 To Equipment A/c. 3338 To Revaluation Surplus A/c. 2120 (Being Equipment revalued at current fair value) 30/06/2017 Income Statement A/c. Dr. 30328 Revaluation Surplus A/c. Dr. 2120 To Depreciation on MV1 A/c. 9000 To Depreciation on MV2 A/c. 19833 To Depreciation on Equipment A/c. 3275 To Repairs Maintenance A/c. 340 (Being depreciation on MV1,MV2 Equipments, Repairs Maintenance and revaluation surplus transferred to Income Statement) 30/06/2017 Profit on Sale of Asset A/c. Dr. 28800 To Capital Reserve A/c. 28800 (Being depreciation charged on equipment) Bibliography:- Christensen, T. E., Baker, R. E., Cottrell, D. M. (2014).Advanced Financial Accounting. The McGraw-Hill Companies, Inc Weil, R. L., Schipper, K., Francis, J. (2013).Financial accounting: an introduction to concepts, methods and uses. Cengage Learning

Investigation About Acid Rain free essay sample

Acidification also occurs when base cations such as calcium, magnesium, potassium and sodium are leached from the soil. This leaching increases with increasing precipitation. Plants take bases from the soil as they grow, donating a proton in exchange for each base cation. Where plant material is removed, as when a forest is logged or crops are harvested, the bases they have taken up are permanently lost from the soil. Acidification can also be caused by the oxidation of sulfide soil minerals during mining or land development, acid deposition from industrial atmospheric pollutants (e. . sulfur dioxide) or land contamination. The ways to prevent soil acidification are, develop and implement a Soil Acidification Management Strategy as a component of the proposed State Soil Protection Policy, covering all types of acid soils, finalise and implement the draft State Lime Supply Strategy incorporating sustainability principles, develop an agreed baseline of the extent and severity of soil a cidification in WA. We will write a custom essay sample on Investigation About Acid Rain or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page 3. Explain why normal rain is acidic? Acidity in normal rain is caused by dissolved carbon dioxide, which produces carbonic acid (H{-2}CO{-3}). Excessive amounts of sulfur and nitrogen released by cars and industrial processes makes normal rain acidic. Forest fires, volcanic activity, and heavy industry all pump sulfur dioxide and/or hydrogen chloride into the atmosphere. These compounds are very soluble in water, and react with it to produce, respectively, sulfuric acid, carbonic acid and hydrochloric acid. Therefore, all normal rain are acidic because the processes that releases compounds which produces acidic characteristic when dissolved in water vapour in the atmosphere is continuous and is increasing drastically day by day. This process has became a cycle. . ) Acid rain causes major environmental problems in some industrialised countries. In some detail, describe how the rain is produced and the problem it causes. Industries, exoz gas produces acidic gases such as Sulfur dioxide (SO2) is produced from burning of fossil fuel(petroleum, coal) containing sulfur as an impurity. Coal combustion is by far the major source of sulfur dioxide emitted into the atmosphere. During combustion, sulfur is oxidized to form sulfur dioxide (SO2). Sulfur dioxide rises into the atmosphere and is oxidized once again in the presence of atmospheric hydroxyl radicals to form sulfur trioxide (SO3). Sulfur trioxide reacts with atmospheric water droplets to form sulfuric acid (H2SO4). This is the acid rain. Nitrogen oxides (NOx) are also formed through fossil fuel use in vehicles and power generation plants which are burnt as fuels. In contrast to sulfur, nitrogen is not an impurity but rather an main part of the organic material making up fossil fuels. Fossil fuel combustion releases nitrogen into the atmosphere, usually in the form of nitric oxide (NO). Nitric oxide (NO) is oxidized by atmospheric molecules, such as ozone (O3) or hydrogen dioxide (HO2), to form nitrogen dioxide (NO2). Nitrogen dioxide (NO2) reacts with OH in the atmosphere to form nitric acid (HNO3). Nitric acid can also form when nitrogen dioxide (NO2) reacts with the nitrate radical (NO3) in the presence of atmospheric water or aldehydes. The problem acid rain causes are SO2 (g)+O2(g) -gt; SO3(g) Afterwards, it becomes sulfuric acid when it joins with hydrogen atoms in the air. SO3(g)+H2O(l) -gt; H2SO4(aq 1. ) 2NO2(g) + H2O(l) -gt; 2H+ + NO3 + NO2 2. ) NO(g) + NO2(g) + H2O(l) -gt; 2H+ + 2NO2 3. ) 3NO2(g) + H2O(l) -gt; 2H+ + 2NO3 + NO(g) Acid rain on human CAN CAUSErespiratory problems. The sulfur dioxide and nitrogen oxide emission gives risk to respiratory problems such as dry coughs, asthma, headaches, eye, nose, and throat irritation. Polluted rainfall is especially harmful to those who suffer from asthma or those who have a hard time breathing. But even healthy people can have their lungs damaged by acid air pollutants. Acid rain can aggravate a persons ability to breathe and may increase disease which could lead to death. It can harm us through the atmosphere or through the soil from which our food is grown and eaten from. Acid rain causes toxic metals to break loose from their natural chemical compounds. Toxic metals themselves are dangerous, but if they are combined with other elements, they are harmless. They release toxic metals that might be absorbed by the drinking water, crops, or animals that human consume. These foods that are consumed could cause nerve damage to children or severe brain damage or death. Scientists believe that one metal, aluminum, is suspected to relate to Alzheimers disease. Acids have a corrosive effect on limestone or marble buildings or sculptures. It is well established that either wet or dry deposition of sulfur dioxide significantly increases the rate of corrosion on limestone, sandstone, and marble. ulfur dioxide plus water makes sulfurous acid SO2 + H2O gt; H2SO3 sulfur trioxide plus water makes sulfuric acid SO3 + H2O gt; H2SO4 The sulfuric acid then further reacts with the limestone in a neutralization reaction. Limestone: CaCO3 + H2SO4 gt; CaSO4 + H2CO3 H2CO3 gt; CO2 gas + H2O The calcium sulfate is soluble in water and hence the limestone dissol ves and crumbles. Acid rain can decrease the growth and yield of crops in agriculture. in severe cases destroy vast areas of crops that are being grown. Acid rain can also increase the acidity in pond and lakes thus affecting and killing aquatic life. 5. The mining and processing of metal sulfide ores can cause a number of major problems in some environments. Use an example from Western Australia to discuss this statement in detail. The nickel exploration in the late 1960s and early 1970s led to the discovery of numerous nickel sulphide deposits. The deposits are found in volcanic areas in the Archaean Yilgarn Block of Western Australia mainly on Mt Keith. Metal sulphide ores availability in Western Australia was doubled in 1997 by the opening of Western Mining Corporations new $A145 million plant alongside the Kalgoorlie nickel smelter 15km south of the Kalgoorlie-Boulder. Hazards created when a sulphide dust ignition occurs can include fire, toxic gases, oxygen deficiency and/or damage from an explosion. Open pit mining, conventional drill, blast, load and haul to get to the deposits Environmental issues can include erosion, formation of sinkholes, loss of biodiversity, and contamination of soil, groundwater and surface water by chemicals from mining processes. Gold mine, lime Esperance, Kambalda nickel smelter

Social Media A Monster Professor Ramos Blog

Social Media A Monster Kelly Biley English 102 August 4, 2018 Social Media: A Monster? You have it with you every day. You probably don’t leave the house without it. However, social media can be recognized as one of the most frightening monsters of them all and today’s society is without a doubt, overly attached. The dictionary describes social media as, â€Å"websites and other online means of communication that are used by large groups of people to share information, ideas, personal messages, and other content.†(dictionary.com). There was a rapid expansion of social media which lead to dramatic alteration in the world with widespread effects such as mental health issues, cyberbullying, and unrealistic expectations. This issue will not stop. It is like an insidious snake, invisibly squirming its way through people’s minds; warping them as it passes. The most popular social media include Facebook, Snapchat, Twitter, and Instagram. Social media can change your perception of the world and yourself, but not typically for the better. If you can not imagine your life without social media, that’s a sign that you’ve fallen a victim to the evil power of social networking. Social media is a monster, the worst part is no one sees it coming. One of the most famous monsters ever created was Mary Shelley’s Frankenstein. The novel Frankenstein tells the story of Victor Frankenstein, a young scientist who creates a grotesque creature in an unorthodox scientific experiment. Brian Rosenberg, president of Macalester College states, Victor Frankenstein learns to harness some of the most mysterious forces in the universe - he is, as the novel’s subtitle suggests, the Modern Prometheus - but he never ponders or learns to control the dangerous implications of his own creativity, and the result is disastrous for him and for those about whom he most cares.†(Rosenberg). This quote explains that throughout history, humans tend to jump at the opportunity to receive credit for brilliant, powerful creations, but are often so caught up in the new revelation that they do not see how enormously destructive their creation can be. Just as we discussed in class, Frankenstein is so astonished by what he can do that he never pauses to ask what he should do. Similarly to Frankenstein, our society is so captivated by the new capabilities we have at our fingertips that our excitement at what we can do has gotten dangerously far ahead of what we should do. Rosenberg suggests, â€Å"Social media, I believe, are in danger of becoming the Frankenstein’s monster of our historical moment. Brilliant people have created powerful tools that allow us to do things unimagined even a decade ago, yet it is fair to ask whether those tools have done more harm than good and whether they are being wielded with a sense of responsibility.†(Rosenberg). Our society is being dramatically shaped by the new forms of social media and the present conditions the effects of this monstrosity has diminished. Today around seven-in-ten Americans use social media to connect with one another. Stats show, â€Å"When Pew Research Center began tracking social media adoption in 2005, just 5% of American adults used at least one of these platforms. By 2011 that share had risen to half of all Americans, and today 69% of the public uses some type of social media† (Pew Research Center). Researchers have found that using social media obsessively causes anxiety and depression. It is more than just the pressure of sharing things with others, it is also about how you may be comparing your life with others you see on Facebook. Many people see that someone on Facebook who has a great job, excellent husband, and beautiful home and they feel happy for them. But, others can feel jealous, depressed, or may even feel suicidal about their own life if it is not as â€Å"perfect† as those they see on Facebook.  Jeffrey Cohen, author of Monster Culture explains, â€Å"Monster theory must therefore concern itself with strings of cultural moments, connected by a logic that always threatens to shift; invigorated by change and escape, by the impossibility of achieving what Susan Stewart calls the desired â€Å"fall or death, the stopping† of its gigantic subject, monstrous interpretation is as much process as epiphany, a work that must content itself with fragments.†(Cohen, page 6). This quote helps us to understand that the more technology we acquire, the more stressed out we become. Technology and social media have grown and expanded with our culture over the years becoming a necessity in every day life. It is almost impossible to not become a victim of the evil power of social media because society enforces so much pressure on people to conform and adapt with common cultural movements. Liu yi Lin and a handful of other doctors, who wrote a research article about depression and anxiety, conducted a survey on a sample of 1,787 young adults aged nineteen to thirty-two about social media use and depression. There results concluded, â€Å"those who use increased amounts of social media subsequently develop increased depression. Studies have linked social media use with declines in subjective mood, sense of well-being, and life satisfaction. For example, passive consumption of social media content as opposed to active communication has been associated with decrease in bonding and bridging social capital and increase in loneliness. Consequently, these envious feelings may lead to a sense of self-inferiority and depression over time.†(Liu Lin page 328). One of the most common terrors about monsters is the fear they instill in people based on the fact that they can hurt us. Clearly the prevalent, current day monster known as social media harms millions of individuals world wide by allowing an abundance of depression and anxiety in the human population as one of its disastrous effects. Another effect of the monstrous social media is the epidemic known as cyberbullying. Kellie Camelford, author of The Cyberbullying Virus states, â€Å"Cyberbullying is a form of bullying in which a person intentionally and repeatedly harms or harasses another person through an electronic format which may include sending harmful text messages, emails, or voicemails, spreading rumors on social media sites such as Facebook, Instagram, and Twitter posting or disturbing unflattering or embarrassing photos, and creating fake profiles bully the victim while remain anonymous.†(The Cyberbullying Virus, page 459). Cyberbullying is different from traditional physical bullying in that thanks to social media, is quickly distributed and often seen by much larger groups of people. Traditional bullying is face-to-face, limited to a selected group whereas cyberbullying is behind screens, shared with a wide audience within seconds. Research from The Cyberbullying Virus explains, â€Å" 24% of students age 12-18 years old, reported being cyberbullied during their lifetimes. Patchin found that 15% of students admitted to cyberbullying with spreading rumors as the most commonly reported mode of cyberbullying. Patchin and Hinduja found that 88% of students reported being a bystander and witnessing cruelty on social networking sites. Tracking down and punishing perpetrators of cyberbullying is difficult because the â€Å"anonymity† of the internet, which often, in turn, encourages the cyberbullying tactics to intensify.†(The Cyberbullying Virus, page 459). Therefore, this quote states that not only is social media a monster, instilling fear and pain in others, but is also creating humans into monsters by taking away there humanity. In Cohens Monster Theory, he states in his fifth thesis, â€Å"The monster of prohibition exists to demarcate the bonds that hold together that system of relations we call culture, to call horrid attention to the borders that cannot be crossed†¦ this monster delimits the social space through which cultural bodies may move, and in classical times validated a tight, hierarchical system of naturalized leadership and control where every man had a functional place†¦ We have seen that the monster arises at the gap where difference is perceived as dividing a recording voice from its captured subject.;.. The monster’s destructiveness is really a deconstructiveness: it threatens to reveal that difference originates in process, rather than in fact.†(Cohen, page 14). Sadly Cohen’s thesis remarkably coincides with the process cyberbullying enforces in social media interactions between kids by a creation of a social hierarchy that will destroy you if you attempt to change your position. These effects of social media can be detrimental on the teenage population, leading to increased school absences, decreased levels of self-esteem, and eventually suicide. More over, social media also causes an overwhelming feeling of unrealistic expectations and a disorder known as Fear of Missing Out (FOMO). Kathryn Gregory, journalist of Gazelle magazine explains, â€Å"That need for constant communication may stem from something being dubbed the fear of missing out, a sense that people think there is something better going on than the activity they are participating in at the moment.†(Gregory). That need turns into a compulsion to be constantly connected. FOMO is basically a form of anxiety that you get when you’re scared of missing out on a positive experience or emotions that someone else is getting. This fear is constantly fueled by social media engagement. The more you use social networks, the more likely you are to see that someone is having more fun than you are right now and that’s exactly what causes FOMO. FOMO also plays largely into having unrealistic expectations. For example, it is common to see posts about the â₠¬Å"perfect† relationship and â€Å"perfect† boyfriend on Twitter and Facebook. Accompanying these posts are comments from people telling you that you deserve a boy who will always send you a â€Å"good morning text†, who brings you flowers or other gifts, and has constant communication. These ideal relationships that people form on social media are not real. There is no such thing as a perfect relationship, or a perfect boyfriend and the social media checklist is not the standard you should be setting. Cohen explains, â€Å"The monster is difference made flesh, come to dwell among us†¦ Any kind of alterity can be inscribed across the monstrous body, but for the most part monstrous difference tends to be cultural, political, racial, economic, sexual.†(Cohen, page 7). In modern day, Cohens explanation can compare to the monstrous social media because the unrealistic expectations stem from the culture in our society and the all too common, fear. Fear is a legitimate sense that people have. There is always something better that we could be doing instead of what we are doing. Social media is just setting us up for constant disappointment. Over careful consideration and extensive research, social media is a monster. The monstrous effects that impact society include mental health issues such as depression and anxiety, cyberbullying, and unrealistic expectations. The social media monster will continue to invade our daily lives if more attention is not drawn to this realization. Otherwise, we are giving birth, in the famous words of Mary Shelley, to a â€Å"hideous progeny†. Annotated Bibliography Camelford, Kellie Giorgio and Christine Ebrahim. The Cyberbullying Virus: A Psychoeducational Intervention to Define and Discuss Cyberbullying among High School Females. Journal of Creativity in Mental Health, vol. 11, no. 3-4, Jul-Dec2016, pp. 458-468. EBSCOhost, doi:10.1080/15401383.2016.1183545 This is a scholarly article about the cyberbullying virus that consumes the average teenager in high school. The article states because of the high volume of adolescent Internet usage, researchers have studied how adolescents communicate online in both positive and negative ways. I will use this article to explain how a negative effect of social media is cyberbullying. This is a credible source because it was written by educated people who wrote a Journal of Creativity in Mental Health. Lin, Liu yi, et al. Association between Social Media Use and Depression among U.S. Young Adults. Depression Anxiety (1091-4269), vol. 33, no. 4, Apr. 2016, pp. 323-331. EBSCOhost, doi:10.1002/da.22466. This is a scholarly article about the correlation between social media and depression. This study demonstrates a strong and significant association between social media use and depression in a nationally representative sample of United States young adults. I will use this source in my essay to show how a negative effect of social media is depression and anxiety. This is a credible source because it was written by educated doctors on the topic and shows multiple charts and tables from the experiments and studies taken. Gregory, Kathryn. Social Media Can Create Fear of Missing Out. Charleston Gazette, the (WV), 05 Feb. 2012. EBSCOhost, search.ebscohost.com/login.aspx?direct=truedb=n5hAN=2W63684649823site=ehost-live. This article is about a negative effect of social media known as fear of missing out. This article explains what ‘fear of missing out’ is and gives quotes from people who have experienced it. I will use this article to correlate the negative effect social media has on ones mental health and daily life. This is a credible source because all of the quotes are cited and it was found on the Crafton Hills database under scholarly articles. â€Å"Social Media Fact Sheet.† Pew Research Center: Internet, Science Tech, Pew Research Center, 5 Feb. 2018, pewinternet.org/fact-sheet/social-media/. This is an article about social media statistics in the general population that explores the patterns and trends shaping the social media landscape over the past decade. It consists of multiple charts and graphs that show correlating evidence of the human population and expanding rate of social media use. I will use this article in my essay by using some of the statistics they gathered through extensive research and surveys. This is a credible source because a reliable Research Center was responsible for conducting the surveys. Cohen, J. (n.d.). Monster Culture (Seven Theses). [online] englishwithtuttle.com. This is an article about critically analyzing monsters and the different cultures they come from. It provides sufficient background information that can connect monsters to both the past, present, and future. I will use this article to connect my monster to critical realizations in the world. This is a credible source because it is a scholarly journal and has multiple scientists cited. Rosenberg, Brian. â€Å"The Frankensteins Monster of Social Media.† The Huffington Post, TheHuffingtonPost.com, 29 May 2013, huffingtonpost.com/brian-rosenberg/millennials-social-media_b_2978652.html. This article is comparing Frankenstein to Social media saying how social media is a monster. It explains that social media is in danger of becoming the Frankenstein’s monster of our historical moment. I will use this in my essay to exaggerate how social media can successfully be compared to being a monster. This is a credible source because the President from Macalester College, Brian Rosenberg, wrote the article and is very knowledgeable on the subject.

Spanish and French Baroque Research Paper Example | Topics and Well Written Essays - 1500 words

Spanish and French Baroque - Research Paper Example Paintings of the Baroque style show a kind of dynamism, in contrast to the static mood of the Renaissance. They achieve a sense of movement by placing the composition along the diagonal, instead of the vertical. The paintings of the age were infused with the vitality and vigor, which had taken hold of Europe after the counterreformation. Landscape was treated as an adjunct to the primary figural subject and served as merely the background. In fresco decoration it appeared as an â€Å"ornamental interlude† in opposition to the main figures. The artists of the Baroque era took the landscape and â€Å"endowing it with a new grandeur† pushed the details and incidents to the realms of secondary objects. This style of painting was marked by Pastoral themes, and the artist tried to recreate Virgil’s Arcadia as the locus amoenus (pleasant place), where shepherds could lead the days in otium (leisurely) pursuits. Baroque works of art stressed upon the idea of creating ple asurable emotions but without any vulgarity, and keeping it â€Å"simple and natural’ based on the concept of les biensà ©ances (decorum). The Classical landscapes of the Baroque age painting, is marked by vast open spaces, with an architectural structure, usually a dilapidated fort or castle, which is placed there so as to â€Å"order the landscape through a symmetrical placement of geometricized forms.’ The Baroque style was practiced predominantly in Catholic countries of Europe, and so, many of the important pieces of art can be traced to Spain and France.

Gallery review Essay Example | Topics and Well Written Essays - 250 words - 2

Gallery review - Essay Example The painting is done oil on canvas. The size of the painting is 18 3/8 inches x 21 Â ¾ inches. The overall work is proportionally correct even though the second lady who is sitting is disproportionate in structure. One cannot find out whether she is sitting on a bed sheet or if she has a comforter on her lap. The two ladies are the focal point in the portrait. The work is balanced as the painter as used dark and light colors both. However, It is noticed that the lady who is wearing the black dress has the dark background whereas the second lady is also wearing a dark dress but the background color is light which makes one wonder whether the colors schemes should be less vibrant in order to have a balanced portrait. The color schemes are vibrant. It is a very colorful image. The artist has used warm colors and tried using contrasting colors that make the characters of the painting stand out in the portrait (Gardini). One of the formal characteristics identified in the painting is that the artist has not emphasized on the hair of the two women. One can only tell that the characters are women while looking at the shape of the dresses. Moreover, the expressions of both the women are not intense. While looking at the portrait, it would be difficult to estimate the mood of the women, which should be an essential part of the painting. However, the vibrant colors are the main attraction of the portrait. The main function of the piece is to represent women in vibrant and colorful colors. It shows two women who may be enjoying a leisure time with each other in a garden or a place where there is beauty and they are thinking or talking to each other

Impact Of Technological Change In HMV group

Impact Of Technological Change In HMV group Sufficient changes have been taken place over the last ten years in the UKs music sector. One of the UK and Irelands leading CD, DVD and Computer Game seller is HMV. The central nature and context of the change for HMV is online music. Companys poor trading performance reflects because the lack of progress adapting to structural change. According to John (2007) planned change is triggered by the failure of the people to create a continuously adaptive organisation. William and Thomas (2009) state that 70 present of planned organizational change initiative fail because of the lack of reliable and valid diagnostic instruments to assess and track an organizations capacity for change. Change management entails thoughtful planning, sensitive implementation, consultation with and involvement of the people affected by the changes. Organization Name: HMV Group Nature of the change: There are three main categories of organisations that may experience period of change 1. The kind of self-organising and changing learning organisations. 2. Companies operating in niche market where they have not encountered the kind of environmental change. 3. Organisations that able to continue functioning without transforming themselves. There are two types of changes- 1. Transitional or Incremental Change 2. Transformational or Revolutionary Change Incremental Change: The focus for this part is doing better things through a continuous tinkering, adaptation and modification. This type of change is that it builds on what has already been done and may need continuous improvement. Transformational Change: It involves a break with the past, a step function change rather than an extrapolation of past patterns of change and development. It is based on new relationships and dynamics within the industry that undermine core competencies. In this part things need to be done differently rather than doing things better. SOURCE John Hayes (p-12-13, 2007) The delivery of music over internet expected a great future over the next 5 years. Sales of digital downloads are expected to increase from $22 million in 2001 to $1.6 billion in 2006. For this transformation of the music industry there is a major impact of social and technological factors. These chase influenced by Digitization, Compression and streaming technologies. The technological improvements in music industry increase the availability of music easily and reduce cost as well. (Web Source 1) Reason for Change: According to Joan (1958) technology can make a big change, not only with the development, manufacture, marketing and distribution of these new products, but also within their own corporate structure and culture. Burnes (1988) suggested an approach to assessing the need for the type of change which attempts to make the process of establishing objectives and outcomes more rigorous and open. Leaders focus on aligning people, communicating the new direction and creating coalitions committed to get the job done. Empower others to make the vision happen. A central feature of modern organisation is interdependence where most members of the organisation are tied to many others by their work as kotter argues (1995). Transformational leaders have the ability to identify those who might be able to support or sabotage an initiative, network with them and communicate in a credible way what needs to be done. The main change drivers of HMV are online music. Due to get the online music the business of HMV affected and it lose its market share. We discuss below how change impacts on technological and social drivers of change. The price is the drivers of the change. Because there are competitors Tesco and Asda have sell the CDs and DVDs in the less price than HMV. So, it has intense competition in the market .However, technological drivers are the main reason for the change in customer mind. So, we will discuss about the drivers how it gets the market. Company Background: HMV Group, formerly HMV Media: books, music and video for everyone formed in 1998 after HMV and Waterstones joined forces, acquired from EMI and WH Smith respectively, the HMV group began operations using its two chains.Both share the same goal in terms of customer satisfaction, offering the largest range of leisure and cultural products, despite the two chains keeping very much within the scope of their own work. HMV targeted the position of leading international distributor (Europe, Asia and North America) on the music and video (all formats) markets. Waterstones is dedicated to book sales and exclusively on a national scale. The power of the two entities is unquestionable as the HMV Group is made up of more of 500 shops. Aim and Objectives: The main change drivers of HMV are online music. Due to get the online music the business of HMV affected and it lose its market share. We discuss below how change impacts on technological and social drivers of change. The price is the drivers of the change. Because there are competitors Tesco and Asda have sell the CDs and DVDs in the less price than HMV. So, it has intense competition in the market .However, technological drivers are the main reason for the change in customer mind. So, we will discuss about the drivers how it gets the market.Same Day. External Factor: Change has been a future of organisational life for as long as organisations have existed, environment have brought about the need for organisations to adapt their internal attitudes, strategies, structures and operations to meet the demands of the new external conditions. Hence, the study of internal change has increased both in academic circles and in organisations themselves. In change need to understand reactive and proactive change this area is what of the two principal sources of impetus to change. Reactive change is change forced upon an organisation arising from a need to react to a change in the organisations environment. This can apply to an individual as well as an organisation, for example, you must change your lifestyle if your main source of income is suddenly reduced or discontinued. There are a number of environmental changes that can precipitate reactive change, but they usually have in common an element of necessity, of being unexpected or an element of surprise. Proactive change, in diametric opposition to reactive change, is planned in advance, usually with a particular objective in mind. Whilst proactive change may be as an indirect consequence of changes in the environment, it is essentially change because the organisation wants, or internally feel the need to change. To relate this to the individual, you might proactively improve your educational qualifications in order to increase your job prospects. [Source: David Campbal Tom Craig, p-(449-450)] A number of factors have stimulated interest in the learning organisational change concept: à ¢Ã¢â€š ¬Ã‚ ¢ The production of goods and services increasingly involves sophisticated knowledge à ¢Ã¢â€š ¬Ã‚ ¢ Knowledge is therefore as valuable a resources as raw material à ¢Ã¢â€š ¬Ã‚ ¢ Many organizations lost knowledgeable staff through de-layering in the 1990s à ¢Ã¢â€š ¬Ã‚ ¢ Information technologies are knowledge intensive à ¢Ã¢â€š ¬Ã‚ ¢ Knowledge can have a short life span, made obsolete by innovation à ¢Ã¢â€š ¬Ã‚ ¢ Flexibility, creativity and responsiveness are now prized capabilities à ¢Ã¢â€š ¬Ã‚ ¢ Knowledge can thus be a source of competitive advantage for an organization Complete PEST analyses of HMV Group: The PEST analysis is a useful tool for understanding risks associated with market growth or decline. This helps to understand the environment that HMV is operating in and what the risks that could affect its products and what to consider when developing a new product range. Such as political, economical, social environment and other legal factors. Most of them are out of the control of HMV. Political/legal factors- This affects HMV in many ways. For example the trading / government polices HMV have to follow when selling their product on the market and advertising them to the public. All business needs to follow the legal factors when producing and selling products such as prices/descriptions etc. HMV need to keep up to date with the changes in the law to make sure they stay within them. The social environment- This helps HMV to identify the specifics of its targeted market. To identify what type of person buys their products, so the company can produce products that suit their preferences. This also helps them to reveal the gender, income and other areas of the social environment that HMV is in. This provides the company with useful Information that they can use when promoting their products to help attract the type of consumers that is in the environment. Technological Factors- Technological Factors are most important factors for the business. because now a days businesses is working in changing environment. There is a great change in technology Advancement in technology and means of communication will help same day to keep track of its parcels and couriers. Economic Factors- All businesses are affected by economical factors nationally and globally. Economic factors affect your customers ability to purchase your goods and services as well as a firms cost of capital. Examples of these issues would be: Government intervention in the free market, Rate of inflation, Capital borrowing costs, Currency exchange rates, Inflation/deflation impacts, Labour costs. Lueckes Seven Steps to Change: In 2003, a new model of emergent change was given by Luecke which is known as seven steps of change. These steps are: If any change is to take place, the management should create and mobilize the energy and commitment needed to identify the problems of the organization and their solutions (Todnem, 2005) Management should include employees to create a shared vision of how the organization can be organized and managed in order to face the competition (Todnem, 2005). According to Todnem (2005), Luecke proposed that in third step that leadership to bring about change should be identified. The focus of the management should be the end result of the change and not the activities that lead to change (Todnem, 2005). According to Luecke (Todnem, 2005) change should start on small scale and then it should spread to the other parts of the organization. Policies, procedures and systems should be institutionalized to achieve success. If any problems occurs in the change process, strategies should be adjusted to deal with it (Todnem, 2005) Simon Fox new chief executive of HMV have chosen Lueckes Seven Steps model to gain its profit: Few HMV music store could be sold according to saving cost. Changing trends in the music market by internet in order to download track or buy albums from website such amazons. Company hoped to avoid redundancies by redeployment. HMV will focus heavily on its online presence, aiming HMV sales via internet from 6% to 10% by 2010. The company has announced a three year transformation plan which will save 50 million costs per annum by 2010 through simplifying HMV. In the UK and Ireland HMVs sales grew by 1%. The firm said it is initiating a turnover plan which it hoped would revitalize its core business. If the cost cut will go down well in the city(short term goal), Mr. foxs growth plan to derive 20% of HMV sales through its online channel compared to 6% by utilize high street store space. The most radical plan is for the transformation of its music retail business into an interactive store ai med at restoring HMV, will launch a loyalty-card scheme the target the rapidly growing mobile phone music market. HMV will team up with 3 to install concessions within its store that sale music centric handsets. It will also plan sell some mp3 players from the likes apples and Sony and reducing its dependences on sales of CDs and DVDs. HMV will also provide content to mobile music retailer 3s 3.7 million subscribers. It will launch its own social networking site for film and music. A refreshment hub shoppers will able to log on to a social networking site for music, films and games also provided. It will able to burn its own CD. Fox will increase HMVs sales of games 12 percent to 15 percent over 3 years, and digital music, audio and video products to 16percent from 5 percent. (Web Source-3) Benefits of Proposal: HMV should take a plan to have some meeting with its employees regarding the change and need to tell them how they have to participate with the change. It should tell their involvement with the change .it should take some training session, develop new ideas and approaches without being influenced by the old ways. The guiding coalition must remove obstacles that may be entrenched in organizational process. They should be given the opportunities to get on board any embrace the vision. Force Field Analysis: Force field analysis can suggest a number of changes to the initial plan: By training staff It would be useful to show staff that change is necessary for business survival in current music ins Staff could be shown that new technology would introduce variety and interest to their jobs. You could raise wages to reflect new productivity. HMV UK and Irelands expansion is a testament to its success. Board members of HMV attribute this to quality of HMV store manager who is developed from within the business. Their performance is judged on the achievement of weekly targets set by the business. In 1998 HMV conducted a company-wide opinion survey called your shout. To support management development HMV established a development programme. Day to day learning in store was less structured and less inconsistent application across the business. HMV saw the investors in people standard as a framework to accelerate the effectiveness of the companys response to the your shout survey. Quality could be assured by aligning a new development initiative with an external standard. A development package was created to provide a structural framework and comprehensive development materials for in-store learning which called the continuous development plan (CDP). Its aim to increase knowledge and skills of management and staff in the critical elements of HMV store operations. The knowledge of staffs is defined on their job role which is articulate in four areas. By the assessment existing levels of knowledge was identified so that people can get the individual development plan and workbooks to support CDP coach nominated by every store to support the CDP activities. All levels of staff support the training structure. Progress reported to the board in every month. HMV has supported this massive initiative with considerable additional resources, including 15 development centers across the UK Ireland, an expanded course offering for all staff levels and a larger learning and development team. Working with the investor in people standard has helped its employees recognise the day to day development. People can see what the knowledge and skills they developed and what they need to be a manager. The success of CDP rises by 12 months to twenty percent in critical areas. This helped to raise the standard of customer service and make the stock management efficient. Investors in people have helped us communicate the dynamic career opportunities in HMV. It has provided a structured framework to continuously support and stimulate the development of existing staff. The change Process: Simon fox appointed chief executive of HMV group plc. The management undertook a comprehensive review of operations to identify strategies for revitalising the groups business over next three years. The result of this work, together with the financial impact for the group and its capital structure which discussed below: The board expect the markets in which the group operates to be subject to significant structural change, with the total music and DVD markets continuing to decline, and growth in the books market coming from the online channel. In addressing this issue the board has identify three key areas of focus: Saving Driving cost efficiency Protecting revitalising the core business Growing- Establish new channels. Saving Direct cost efficiency Cost savings of  £40m per annum will be achieved by 2009/10 by simplifying the HMV UK and Waterstones supply chains, maximising group purchasing and head office synergies and from the review of the UK store portfolio. Protecting Revitalising the core business * HMV UK will launch an enhanced range of portable digital products from suppliers including Apple, Bose, Samsung and Sony. * A new HMV store format of the future is being developed and will be trialled from autumn 2007. * A loyalty card to drive spends across both brands and all channels will be rolled out during 2007/08. Growing Establishing the new channel * HMV will launch a social network site for music, films and games, proving revenue streams from advertising, sponsorship and paid-for content. * HMV UK is partnering with 3, the UKs leading mobile music retailer to provide content to 3s 3.7m subscribers. * Growth in hmv.co.uk and Waterstones.com will be accelerated by increased marketing. * HMV.co.uk will become 20% of HMV UK sales by 2010. As over 80% of the groups profit is made in the UK, today are strategic and operational review will be focused on UK markets. SOURCE HMV group website Media News Recommendations and Conclusion: STRENGTH: HMV is the market leader for CD, DVD and computer games. HMV brands are synonymous with range authority, expertise, customer service and a stimulating store environment. The company listed on the London stock exchange on 15 may, 2002 successfully establishing a more appropriate capital structure for the future growth of the company. SOURCE HMV group website About Us History WEAKNESS: HMV had not adapted quickly enough to the way customers are buying and consuming media. Before Christmas last year, HMV and other high street retailer issued profit warning because of poor sales affected by the growth of online retail. The group has admitted being too slow to recognise the changing shape of the music and entertainment industry and has been hard hit by competition from online specialist as Amazon and play.com as well as supermarket such as Tesco, asda with their offers of bargain CDs and DVDs. A new pricing architecture is being rolled out to the entire HMV UK chain by September 2006. HMV was named best retail chain in the 2006 music week awards for an eighth consecutive year, multiple retail success of the year at the 2006 British video association awards and most improved retailer in games in 2006 MCV Industry Excellent Awards. Sales in HMV UK and Ireland for the full year ended April 2006 were  £937.2m and operating profit was  £60.6m. For the year ended April 2006 turnover of HMV Asia pacific was  £275.5m and operating profit 8.6m. SOURCE HMV group website About Us Fast Facts

College Tuition Essay

There’s no escaping the fact that college cost are rising. According to recently released reports from the College Board, most students and their families can expert to pay, on average, from $95 to $1,404 more than last year for this year’s tuition and fees, depending on the type of college. (Collegeboard. com) The United States needs to lower the cost of college tuition; because students and parents have had to pay double the amount of money for schooling then they would have ten years ago. In the past five years, the average cost of in-state tuition and fees at public colleges has jumped thirty-five percent. In the past twenty-five years, the average cost of tuition and fees has risen faster than personal income, consumer prices and even health insurance. In 1999 students had to pay $2,489 for universities and $865 for community college. In 2003 the price rose from $3,441 for universities and $1,120 for community college. In 2006 the price jumped to $4,867 for universities and $1,483 for community college. Between 1999 and 2006 there was a 95. 54 percent change in the universities pay and a 71. 45 percent change for community colleges. There is no denying the fact that college tuition has doubled in prices (USAtoday. com). According to stateuniversity. com Blinn College undergraduate tuition for in-district students is $1,260, for in-state $2,478 and for out of state $5670; not including the undergraduate required fee which is $1,176 for all three districts. For tuition alone you are spending between $2,436 and $6,846. Now if you add in books and supplies which runs between $946 and $995. You also can not forget about room and board which can run $5,888 to $6,047 (stateuniversity. com). If you add that all together for Blinn College you are expected to spend roughly $9,270 to attend Blinn College for a semester. A small reduction in state support may result in a large increase in tuition. We help pay for maintaining access for handicapped students; Meetings environmental requirements; screening international students; and conforming to historical preservation requirements. If you think about it we are helping out the school and students. Prices increase as colleges compete for students to come to there college. Of course there are scholarships and financial aid, but not everyone can qualify for them. Paul Middendorf, 54, Richmond, Texas says, â€Å"†¦. When my first son, now twenty-six, applied for college, he applied for dozens of scholarships but was told they earned too much money to qualify for financial aid. † They had to finance their children’s college education with a mix of savings and federal parent loans. (USAtoday. com) According msnbc. msn. com; a companion report released on trends in student aid in grant aid – money students do not have to pay back – have covered only about one-third of the increase at public four year schools. Students are footing more and more of the bill with private loans from banks and student loans companies. Undergraduate private borrowing grew twelve percent to $14. 5 billion in 2006-2007. The rate of increase in total private borrowing for education has slowed, but borrowing has increased over the last decade. Legislators are tired of taking the blame for the escalating price of a college education, and some – mainly Democrats – say they want to resume setting tuition themselves. University leaders argue that the additional money is crucial for attracting and retaining top faculty. (chron. com) Students and families are caught in the middle. â€Å"With tuition and gas, it is hard to make end’s meet,† said Charlotte Atkinson, 26, a senior at the University of Houston. Instead of having to digest such an immense amount of information, students and their families should be able to apply for financial aid by making a note on their tax returns (a solution advocated by Democratic presidential nominee Barack Obama). It is hard to even realize that money is such a big factor in our lives today. Based on the information I have given you it is a fact that the cost of college tuition needs to be lowered so that more students can attend and pay for college.