LOreal one of the leading cosmetic companies

LOreal one of the leading cosmetic companies Introduction It is era of globalization where competition are increasing day by day, due to competition, it is hard for company to keep hold policy , old method of production . Companies need change to stay in the market. LOreal is a one of leading cosmetic company who is producing world famous brands , company regular making changes , like acquisition policy , building new research centres in most of developed countries. Using technology, and making stakeholder collaboration through using this technology. Organization structure and culture of the organization can play key role in the process of change . Change is not just changing the method of production but can be any type of change , either recruiting polices , making fair laws , adopting new laws which are implementing etc. Company background LOreal is known as the worlds leading cosmetics organization which has a portfolio that consists of many worlds dominant beauty products. Company sales almost 80% doing from outside the France, with action in every key region . It is only Cosmetics Company which has distribution, almost 140 countries. In year 1907 a young French chemist Eugene Schuler, developed a creative hair-colour formula. The named this new, completely safe hair dye Aureole. The history of LOreal began; Eugene Schueller invented and manufactured their own products. LOreal started their production with hair-colour business, but the company quickly pronged out in to other beauty products. Company marketing more than 5 hundreds brand and which have thousands of special products in all division of the beauty business. Styling aids, Hair colour, permanents, body and skin care, cleansers and fragrances. They are found in all distribution channels, from hair salons and perfumeries to hyper the supermarkets, health and beauty outlets, pharmacies and direct mail. DIFFERENT BRANDS AT LOREAL LOreal strives to make a reality within the reach of every woman and every man. CONSUMER PRODUCTS Ggarnier LOreal Paris Le club des createurs Maybelline ny Soft sheen Carson PROFESSIONAL PRODUCTS Loreal professional Kerastase Redken Matrix Mizani LUXURY PRODUCTS Lancom Biotherm Helena rubinstein Kiehls Shu uemura Giorgio armani Ralph lauren Cacharel Viktor rolf Diesel ACTIVE COSTEMETICS Vichy La roche-posay Ineov Skin ceuticals ENVIRONMENTAL ANALYSIS Kotler .P. (1996) Planning start with complete analysis of companys situation, company do analyse environmental to find the opportunities and to escape threats of environment. For change and its implementation environmental analyse is play dominant role. SWOT ANALYSIS Needham Dave Dransfield Rob( 2000) SWOT analysis is known as strategic planning tool which used to assess strengths , weaknesses , opportunities and threats STRENGTH LOreal is considered the biggest seller of hair care and beauty product in the whole world, spotlighting on 19 global brands. Numbers of these products are expanded through price and some by culture image. LOreal is building the attraction of various cultures through its products. Consequently, LOreal is reaching out more people across a bigger range of incomes and cultures. The 2nd strength is that LOreal offering a huge significance and spending lots on research and improvement uses and expands leading-edge technology and effectively introduces new product. Company has about 16 research centres across the world and 13 evaluation centres. Its opened recently opened new research and development centre in, Shanghai China . LOreal strategy of diversity and training of its workforce is one of the assets. Company employing group of people from different backgrounds which leads to improve creativity and innovation. Development and preparation can play vital part of life at LOreal each year approximately 100 employees attend industry-specific and leadership development training and conferences at LOreal management development centres in Tokyo, Paris and New York. LOreals acquisition strategy- aspirant on integrating recognized and well-known brands. Examples of unbeaten acquisitions are Carson Inc which measured as the 3rd largest provider of adult womens hair relaxer in America. The acquisition of body shop the British natural based cosmetics retailer with bout 2,290 stores through out worldwide. Company making more attractive to the green consumer those strives no doubt after look both their environment and body , there is no doubt. Company strength stated as strong sales diagonally all geographical area with rising posting market the faster like for like growth rate for the phase. Its took advantages of economies of scale in packaging and advertising result as a LOreal operation profitability which has been increased through cost cutting efforts. WEAKNESSES Organizational decentralized structure which makes control more tricky. Global market functioning , the problems increase due to coordination and control of performances and image. Companys geographical power is currently determined on western European over trust on full grown Western European market ,which gives maturity offers few predictions for growth. During 90s LOreal was hit by claims over past links to racial discrimination, anti-Semitism which are giving of jobs to Nazi co-workers after the World War two. They went some way to satisfy there critics with a boardroom change and other measures. Liliane Bettencourt, LOreals main shareholder, is known as the wealthiest lady in France. Two years ago LOreals slogan was reduced from Because Im worth it to Because youre worth it after fears in France that the original emerged too money-oriented. During July 2007, the Garnier division and an external employment agency were fined à ¢Ã¢â‚¬Å¡Ã‚ ¬30,000 for employment practices that disqualified non-white women from sponsoring its shampoo, Fructis Style. LOreal is report as proverb the decision was incomprehensible, and will challenge the measure in court. During May 2007, LOreal was one of number cosmetic manufacturers ordered by the Therapeutic Goods Administration in Australia (The TGA is responsible for conducting assessment and monitoring activities to ensure that therapeutic goods accessible in Australia are of an acceptable standard and that access to therapeutic advances is in a timely manner) to withdraw advertising regarding the wrinkle elimination capabilities of their products. One experienced candidate said she realize it was not eligible because she was of mixed race. In July 2007, the British Advertising Standards Authority knocked LOreal for a television commercial on its Telescopic mascara, featuring Penà ©lope Cruz, stating it will make you eyelashes 60% longer. In reality, it only made the lashes look 60% bigger, with thickening and separating the roots and by thickening the tips of the lashes. They also failed to state that the model was wearing false eyelashes, a common trick of the trade. Rumours of LOreals failing in US have been seriously inflated as The groups North American division is yet the smallest contributor to sales, accounting for approximately 25% of the total in the first nine months of 2007 and contributing barely 13.5% of sales growth in that period. Different emission gases causing harm to environment Great disaster for the environment storage of different fuels and chemicals underground. Different flammable and gases toxic mainly fire used for different chemical reactions is consider major risk for environment. It is first French organization which is convicted for racial bias cosmetic giant fined for its recruitment campaign. July, 7 2009 The Guardian an article regarding worlds biggest beauty firm Part of the cosmetics giant LOreal was found guilty of racial discrimination after it sought to exclude non-white women from promoting its shampoo. It is a landmark case, the Garnier division of the beauty empire, along with a recruitment agency it employed, were fined à ¢Ã¢â‚¬Å¡Ã‚ ¬30,000 ( £20,300) each after they recruited women on the basis of race. The historic ruling the first time a major company has been found guilty of systematic race discrimination in France saw a senior figure at the agency given a three-month suspended prison sentence.(The Guardian, July, 7, 2009). OPPORTUNITIES Company has chance to develop rising presence in promising markets their activities in rising areas such as Eastern Europe, Africa and Middle East where growth in cosmetics and toiletries sales is normally to precede that of global sales. It has a three largest potential market to expand which are Russia, Brazil and china. LOreals acquisition of already recognized brands offered opportunities to enter new areas at lower costs Diversity by promise. Training at school levels Adopted measures to combat discrimination and support diversity and equal opportunity for all by signing charter for Corporate Commitment to Equal Opportunities in France. Worldwide profit sharing scheme Increase in proportion of Female manager up to 54% and 34% in management committees LOreal set up 22 Observatories on diversity in France. LOreal helped the Disadvantaged finding jobs about 657,429 applications received of which 63,691 were interviewed and 2,333 managers were recruited which is 15% higher than 2005. Follow Up and Integration Track FIT is a project started by LOreal for optimum integration of new employees. LOreal since 2001 started Worldwide Profit Sharing Plan implanted in all the countries. Opportunities for suppliers with a commitment of long term partnership based on mutual respect, sharing of information, transparency and strong communication and high standards. Share their expertise with suppliers to overcome challenges in the outer world with regular business reviews, logistics, and development, packaging and innovation meetings. SHE (Safety, Health and Environment) to identify strategic business opportunities. Signing up of letter for Ethical Commitment by suppliers available in 11 languages. Opening of 89 new stores in Western Europe 15, North America 8 and rest of the world 66. LOreal market share with Body Shop in 2006 is 15.6% THREATS Rivalry from private labels, LOreal is facing threats from growing shocks of private label products. Several of private label cosmetics and toiletries are getting better in quality and attracting customers. The bigger problem for global brands like LOreal is that the retailers are turning over more and more shelf space to their own labels. Brand Copying risk Dubai Perfume Company Bellure sold low-value scents that it stated smelled same as perfumes. It marketed the products on this basis, using wrapping that winked at the related company designs, and published assessment charts that named exacting company perfumes. LOreal sued for infringement of its trademarks and passing off, declaring that Bellures marketing materials took excessive advantage of the quality and repute of LOreals perfume brands. Company won the first round in the High Court, but in 2007 the case came to the Court of Appeal. It is now in limbo, pending a ruling from the ECJ, but a swing the other way looks likely. The Court of Appeals view was that the public are not stupid. It was unconvinced there was any likelihood that a low-value smell-alike product would be confused with the original and took the view that, even if Bellure gained an advantage through comparing its products to LOreals, it did not follow that it was an unfair advantage. (I marketi ng journal)  (Nov 28, 2007): PORTERS FIVE FORCES Porter (1980) in an industry the state of competition depends on five basic competitive forces. The combined strength of these forces establishes the final profit possible in the industry, where profit potential is prà ©cised in term of long run return on invested capital. Not all industries have the similar potential. They differ fundamentally in their ultimate profit potential as the collective strength of the forces differs; the forces range from intense industries. Bargaining Power of Buyers: Buyers power is high as there is a large range of products and every company is competing to attract the customers. Nevertheless LOreals sole products put it in the top of competition. Bargaining Power of Suppliers: Bargaining power of traders is low because of LOreals acquisitions of several brands and also due to its huge market share which gives it the potential for monopoly. Additionally, LOreals strategy is to create strong and long term relationship with their traders. Competitive Rivalry: Aggressive rivalry in the cosmetic industry is high. There are many of existing cosmetic companies challenging in the market and the major competitors of LOreal are Unilever and Proctor Gamble. LOreal decreases the competition by acquiring many well known brands in the market and also, it succeeded to stay ahead of the competition because of its strong portfolio of global brands. Threats of new entrants: The threat of new candidate is low and it is hard for new companies to enter this market. Barriers to entering this market contain: The extensive time and expense essential to build a brand status to overcome existing costumers likings. The extensive costs for promotional and commercial activity to protect the distribution and situation of a new entrants products in retail outlets. The incapability of a new candidate to recover rapidly its huge investment in promoting its brand. The difficulty of securing shelf-space in retail outlets. Threat of Substitutes: Products alternative are not presented in the market. LOreal products are distinguished from other products because of its strong assurance to research and development. It functions 12 research and development centres around the world. All of its products are based-on intensive scientific research and on gradually more targeted advance to enhance the quality. It employs 3,000 scientists who work in state-of-the-art research centres around the world. This allows it to justify price differences as compared with low priced products and retailer brands. (Loreal websit) Information Technology and LOreal Koontz H and Weihrich H( 1999) IT can play vital role affecting the scale ,nature of business for instance ,IT used in connection to sales based ordering (SBO) or efficient consumer response (ECR) ,provide help to organisation to reduce the cost and remove the time barriers . John Dawson (1996) IT provide knowledge based investment , alliance based investment and productivity based investment ,which provide opportunity for new entrants in the market .For LOreal success IT is a key factor , it can further help to reduce the cost and making the right decision at right time , at right cost , at right place. LOreal operating in many countries, IT provides the connectivity with all stakeholder and first hand interaction. Diversification of business Zook and Allen (2001) It suggest that most sustainable growth Pattern is that of the strong or leading core business that remuneration from continual reinvestment, constant adaptation to circumstances or business environment, and persistent leveraging of the competitive advantage formed by these strengths into new markets or geographies, applications, or channels. Further suggest that management teams constantly meet with opportunities for concentric diversification and that taking advantage of these opportunities is at times absolutely necessary in order to strengthen the core. Leavitt, H.J. (1965), Diversification helps to manage the change , like company build their operation in many countries and reduce the cost. CHANGE MANAGEMENT Czarniawska, B. (1999), Change management (or change control) is the process during which the changes of a system are implemented in a controlled manner by following a pre-defined system with, to some extent, reasonable changes. Change management is a structured approach to transitioning individuals, teams, and organizations from a present state to a desired state. The current definition of Change Management includes both organizational change management framework and individual change management models, which together are used to manage the people change management. Individual change management A number of techniques are available for understanding the transitioning of individuals through the phases of change management and strengthening organizational development initiative in both government and corporate sectors. Unfreeze-Change-Refreeze Leftwich, R.L. (1979), An early model of change developed by Kurt Lewin described change as a three stage procedure. The first stage he called unfreezing. It involved overcoming inertia and dismantling the existing ideas. In the second stage the change occurs. This is typically a period of confusion and transition with a little tinge of chaos. The old picture is being replaced by a new one.. The third and final stage he called freezing (often called refreezing by others). The new ideas are being accepted and ones comfort level is returning to previous levels not completely though. Rosch (2002) argues that this often quoted three-stage version of Lewins approach is an oversimplification and that his theory was actually more complex and owed more to physics than behavioural science. Different theorists give different versions according to their research and experiences respectively. . Although elaborating the process to five stages, Judson (1991) still proposes a linear, staged model o f implementing a change: (a) analysing and planning the change; (b) communicating the change; (c) gaining acceptance of new behaviours; (d) changing from the status quo to a changed state, and (e) consolidating and institutionalising the new states. ADKAR The ADKAR model for individual and organizational change management was developed by Prosci with participation from more than 1000 organizations from 59 countries. This model describes five required stages for change to be realized successfully on an individual level. The building blocks of the ADKAR Model include: Awareness of why the change is needed Desire to support and give input in the change Knowledge of how to change Ability to implement new skills and behaviors Reinforcement to sustain the change Organizational change management Fill C (2002), Organizational change management includes techniques and tools for managing the people side of the change at an organizational level. These tools are used by the leaders of the organization and include a structured approach that combined with an understanding of individual change management, provide a model for managing the people side of change. Organizational change management processes include techniques for creating a change management strategy (readiness assessments), engaging senior managers as change leaders (sponsorship), building awareness of the need for change (communications), developing skills and knowledge to support the change(education and training), helping employees move through the transition (coaching by managers and supervisors), and methods to sustain the change (measurement systems, rewards and reinforcement) The role of the management Leftwich, R.L. (1979), Managements responsibility and particularly that of administration is to detect trends in the macro environment as well as in the micro environment so as to be able to identify changes and initiate programs and determine the economic scenario . It is also important to estimate what impact a change will likely have on employee behavior patterns, work processes, technological requirements, motivation and availability of resources. Management must assess what employee reactions will be and craft a change management program that will provide support as workers go through the process of accepting and adopting the change. The program must then be implemented, communicated effectively throughout the organization, monitored for effectiveness, and adjustments be made where necessary. Organizations exist within a dynamic environment that is subject to change due to the impact of various factors both external and internal . To continue to operate effectively within this e nvironmental roller coaster, organizations must be able to change themselves in response to internally and externally initiated change in minimum span of time and be adaptable to change,hence flexible enough . However, change will also impact upon the individuals within the organization. Effective change management requires an understanding of the possible effects of change upon people, and how to manage potential sources of resistance to that change. For instance people react within the organization by forming anti groups and retaliate and oppose the change. Mostly technological changes trigger this point and when new systems are replaced by old systems then conventions take a stand and people react and oppose this transition. Change can be said to occur where there is an imbalance between the current state and the environment on the whole. Decision Downloading Czarniawska, B. (1999)Often changes are initiated at a very senior level of management in the organization without any participation from others. For example, mergers, layoffs, and company acquisitions rarely involve input from employees at any level but the most senior. In fact, most employees are kept in the dark. These situations require special types of change management practices. As the decisions get unfolded to the rest of the organization there is a high probability that misunderstandings, angwish, and resilliance will surface. Researchers have determined that employee buy-in can be hastened by assertively unfolding the decision. Executives who use an assertive style of downloading or announcing the decision include the following points in their message: a) how the decision was made b)reasons why it was made c) what alternatives were considered d) how it fits in with the organizational mission and aims e) how it impacts the organization f) how it impacts employees. Executives who use this more vigorous approach to communicating double the rate of acceptance when compared to more impoverished methods. Change Management on the level of society Mats Larsson, in the book Global Energy Transformation (2009), suggests that change management will become necessary on the level of society in order to transform energy systems on a large scale globally|. Conversion of global systems of transportation, energy supply and industrial processes from grass root level is an undertaking that will require massive investments, change in individual behavior and company routines on a large scale and during a short span of time. This effort will also require the co-operation of many companies, public organizations and individuals. In order to achieve this on the scale of nations and regions, huge government expenditure will be required . Larsson mentions how the management principles and tools of change management could be applied in large scale national programs of mass transformation. Larsson uses as examples previous large scale change and development programs in the United States, in which many models that are now used in corporate change management projects have been developed and used. These programs are the transformation of US industry to war production during The Second World War, The Marshall Plan and The Apollo Program. Each of these programs have different focuses and management models, but they are examples of successful large scale change management efforts on the level of society. John P Kotters eight steps to successful change John Kotters highly recommended books Leading Change (1995) and the follow-up The Heart of Change (2002) describe a helpful formula for understanding and managing change. Each stage acknowledges a key principle identified by Kotter relating to peoples response and approach to change, in which people see, feel and observe followed by the Kotters eight step change model that can be summarised as : Increase urgency,motivate people to move, make objectives real and relevant. Build the right team get the right people in place with the right emotional commitment, and the right combination of skills and expertise. Get the vision right get the team to establish a simple vision and strategy, focus on emotional and creative aspects necessary to drive service and efficiency with essential ingredient of commitment. Communicate for buy-in Involve as many people as possible, communicate the essentials, simply, and to appeal and respond to peoples needs and listen to the peoples needs. Harmonize their needs with the organizational goals on the whole. De-clutter communications make technology work for you rather than against for instance its a global village internet, media has advanced so much , so unfold the information down the organization as quickly as you can to penetrate deep into the minds of people for their fast adaptability to the new situation. Implement the change Remove barriers, enable potential feedback and lots of support from leaders reward and recognise progress and achievements after implementation of change. Create short-term wins Set aims that are easy to achieve in bite-size chunks. Manageable numbers of initiatives. Finish current stages before starting new ones. Dont let up Foster and encourage determination and persistence ongoing change encourage ongoing progress reporting highlight achieved and future milestones. Make change stay Reinforce the value of successful change via new recruitment, promotional rewards, new change leaders. Blend change into culture. Cultural change Culture are known as norms , values , policies , strategy , and policies of the organization . Cultures represent the company way of doing the business. It is a era of globalization where though competition between the firms , cultural change play dominant role for the success of the organization . Organization structure represent the organization culture , if the organization have centralize organization structure , then decision make mostly central level , decentralize structure , increase power sharing between organization . Specially in case of LOreal it is big question how organization culture keep same in the world because, organization acquisition policy , create question mark for organization culture . Like Morrison took the Safe ways, but later the sold number of store because they cant adopt them according to their own culture. People who like a change tend to go through three stages unrealistic optimism , reality shock , and constructive direction . When someone fears or dislikes a change , a more complex process involving five tends to occur getting off on the wrong track , laughing it off , experiencing growing self doubt , buying in and moving in a constructive direction . Managers are challenged to help employees deal effectively with reality shock and self doubts. LOreal STRATEGY Koontz H and Weihrich H( 1999) Strategy term is a general programs of action and deployment of resources to attain comprehensive objectives. According to some authors mentioned strategy means guideline, or long term plans. Hardy Cynthia (1994) global strategy is Setting a a matter of adjusting as much as possible the business functions-manufacturing , procurement, marketing , distribution, and RD -within the constraint of trade and investment barrier in a way which provide the best possible product/market fits. In a few cases, the best fit is a standardized product; in others a customized product fits best. Making a global strategy often involves subsequent a zig-zag line between standardization and flexibility, trading off the costs and benefits of one against those of the other. Cateora R.Philip (1997) formative a firms global strategy and shaping the organization to achieve goals and objectives are the two middle tasks of global marketing management that describe the level of international integration of the company. Companies must contract with multitude of strategic issues including the extent of the internationalisation of operations. Company tends to develop multi-culture in their underlying brands. This strategy proves to be very successful in reality and even played a dominant role in LOreals success. The most representative example is Maybelline New York. LOreal developed Maybellines brand culture instead of upsetting it after its acquisition of Maybelline. The sales figure dramatically rose after the acquisition and Maybelline product enter into more than 90 countries. Maybelline became a stylish global brand for all women all around the world from a merely regional brand. LOreal to create the advantages is to spread around strategic investment by sharing the production of innovation between different product divisions. LOreal relied on distribution channel to carry out its strategy of brand structure. There are four product departments in LOreals structure. Every department has several brands and each brand has many names Strategic position of the company in relation to market Mabey (1994) Company is boosting their brands architecture through acquiring different brands and increasing its operation in the world market. Its acquired Maybelline brand in 1996 for their strategic policy, Mini nurse in China, In Japan Luxury brand Shu Uemura , through acquisition strategy. Future expansion the most fast growing markets like China market , effective and cost efficient strategy , Company is leading in cosmetic industry , and won number of certificate and hold major market shares as shown in below figure. Above diagram ,clearly shows the market share of the company ,which hold 45% share , it is leading position inmarket. Information system Strategy Cameron Kim ( 1993) Information technology can play a dominant role in this competitive world , information is data endowed with relevance and purpose. Data such as names numbers , and places need to be organized and interpreted in a timely manner if they are to be useful in decision making . Information should have a surprise effect, meaning that it should shed light on the unknown. Information that does not surprise or elignten the individual is probably irrelevant or redundant . Because information is the lifeblood of organization endeavor and strategic tool of increasing importance , manager need to ,view information as a resource , understand the cost of information , know how to organize and comprehend information and be familiar with the basics of information processing . Information technology includes all mechanical and electronic devices capable of producing , manipulating , transmitting and storing words , numbers , pictures and sound. The knowledge to operate these devices also qualifies as information technology .

Arthur Miller’s play ‘A View From The Bridge’ Essay

An appealing dimension of Arthur Miller’s play ‘A View From The Bridge’ is the author’s successful creation of a world within the play. Discuss how Miller brings to life the world of the late 1940’s Italian-American community in Red Hook New York. Quote liberally from the text to support your discussion. Arthur Miller was born on 17th October 1915 in New York. Both of his parents were Sicilian immigrants looking for work and a better life in North America. With parents successfully involved in clothing manufacture, the family was very comfortable. He was fortunate enough to be able to attend Michigan University in 1934, which enabled him to achieve his lifetime ambition of becoming a successful play-write. After graduation he worked throughout the Second World War in an all-Italian ship-fitting business. This was where he got his experience of the richness of Sicilian life, combined with the Italian-American community in New York. Miller’s first play The Man Who Had All The Luck was a failure, but All My Sons, written in 1947 was a great success as were his two following plays, Death of a Salesman and The Crucible. Following on from these A View from the Bridge was written in 1956, and was first performed at the Comedy Theatre in London. The story of Rodolpho, Catherine, Eddie and Marco gets its roots from the late 1940’s, where the author’s interests lay in the lives and communities of the dockworkers and longshoremen of New York’s Brooklyn Harbour. Miller began talking to a lawyer about a particular case involving two illegal immigrants. His perception was that this was a life of danger and mystery. A few years later, Miller visited Sicily, and during his stay on this island he found his inspiration for the play, and for the world around which it evolves. Referring back to the title of the piece, Arthur Miller has created a real sense of a world within the play. He has done this in three key ways. Firstly the sense of family and community. The reader feels that the tightly packed community, like they are all brothers, but this can so easily be turned around and bonds broken. Following on from that, we read about an Italian-American community, where community laws and Government laws conflict. We perceive that this is a separate community, a divided world, with its own laws, its own beliefs and its own culture. Finally, between the various characters, the language used is diverse. The different accents strongly reflect the Sicilian background which brought back the Italian roots into the American community in New York during the late 1940’s.

Essay about Sayers The Mind of the Maker

As human beings, we are constantly surrounded by things whose origins we cannot fully comprehend, not   even explain. It is interesting that we at times take part in some of these things without a slight realization they are the very phenomena whose origins we are seeking to explore. With regard to all the mysteries in the universe, the mystery of creation has remained one of the most common one among people in the whole world. So many individuals, scientists, researchers and artists have come forward to give their impression of what they think or perhaps believe it is. Despite the many explanations, all that has become evident is the inconsistency in their thoughts and ideas. This only takes us back to one aspect, the aspect of creation as explained with God in mind.   The introduction above will therefore serve as a pace-setter even as I go ahead to make a few responses with regard   to the contents of the book; â€Å"The Mind of the Maker.† In this book, the author has presented a number of analogies in a bid to create a link between the mind of God the creator and that of   man, who also happens to be a ‘creator’ in his own capacity. To begin with, I will give a summary of the author’ claims with regard to the creative mind. As one goes through the contents and lines of this book, it becomes evident that the author has used a number of phrases, words and sentences in order to describe the creative mind. It is important to note at this point that while she talks about the ‘creative mind,’ the author enlists both God and human beings in the picture. The heavy aspect in this case is somewhat a comparison of God’s creativity as opposed to that of man. The author claims that as much as the creative mind of man is enhanced by experience, that one of God was and has always been as a result of imagination. For instance, right from the second paragraph, she has used to the story of creation in the book of Genesis to demonstrate the supreme nature of God’s creativity. At the same time, the author has managed to show us how much God used imagination to do his work in the beginning. That perhaps would be all in connection to the creative mind of God, what about that of man? According to the author, the mind of man depends on a number of things, these are some of the minute elements which has to be put together in order to see the fruitfulness of his creativity. This implies, the mind of man largely works from the pictures that are collected from the environment. This means, it is from experience that the mind becomes creative. This happens when the constituents of the experience are reformed in the mind leading to the production of a totally new idea, phenomena or object. Secondly, according to Sayers, the creative mind is always full of the ability as well as the desire to make things. This implies, the mind is always curious to explain the reason behind one more existence, in the process, a lot more is discovered hence making the chain more and more complex as days go by. The author also claims that the creative mind cannot work in any unique way apart from having to think in a series of metaphors. This implies, man with his mind cannot be able to create an explanation of something in the entirety of itself instead, the mind can only explain an entity in terms of other entities ( Paragraph 1,Page 23). In line with this, the author expresses how perilous it is to incorporate such a mind in trying to explain who God is but that is what men do, interpreting God by an analogy of ourselves. To add to that, in the second paragraph of page 24, the author exposes another claim with regard to the creative mind by saying that the mind, for the completion of its mandate, has to depend on observations and language as some of the key functions in this game of creativity. Finally, the author gets to make another distinct characteristic of the creative mind. This is again done in comparison with the mind and works of God. According to the word of God, He made the world out of nothing; on the contrary, man cannot do that, man cannot come up with anything out of nothing. This implies, it is only possible for the creative mind to re-put together the units that are not alterable and indestructible and hence develop them into new forms. The portion above therefore gives a summary of the author’s claims about the ‘creative mind’ Part II In this portion of the document, I will give an update of the author’s analogies for creation from an artist/writer to an information technologist. In other words, in this section, I will express the three step creative process in the framework of information technology. Perhaps one of the most dominant concepts that the author has borrowed   in a bid to explain well the three step creative process is the concept of the Trinity. She has explained well how each and every member of the Trinity has a space and a responsibility that probably makes the others inevitably need it. In the same way, the three step creative process appears in a nature so compact that each element or aspect of it obviously requires the other. According to the book, we realize that in writing, the elements of this creative process have to be expressed in a particular progression. This is because that is exactly how things are supposed to be. The three part creative process therefore has been expressed by the author using three interconnected elements. To begin with, there is the element of the creative idea. This has been described as a timeless and passionless idea which beholds the work complete immediately before   it really is. In other words, it is the creative element which almost gives the whole end when everything is just beginning. Analogically, the creative idea has been likened to the attributes of the Father as far as the holy Trinity is concerned. Secondly, there is the element in this process referred to as the creative energy. This that comes out of the idea can also be called the activity. In this case, the working involves a consideration of a number of other aspects, hence it has to be done with both passion and time. It therefore involves being embodied in the bonds that exist between matter. Analogically, this part of the process has been compared to the image of the word, the word which is that of God. Lastly, there is the element of the creative power which is actually the third process. This is the process that brings meaning to the work as well as the response that it   creates in the lively soul.   It therefore renders the work complete by creating a response to it, for instance people reading the book or running a created program. In line with the analogy with which it has been treated by the author, it has been likened to the image of the Spirit that deeply indwells the Father. In conclusion, Sayers gets to summarize this portion by saying that the three are one and cannot be separated from each other. This implies, each and every single component of this process is greatly dependent on the other. As a result, as much as it   may be possible to express them in the single entities, it is practically impossible to see the practicality in any of them without the input of the other. In a nut shell, Sayers in her book clearly brings out the fact that the creative process in the work of art and writing operates in a manner that greatly corresponds to the active relationship among the three persons of the trinity. In other words, the activity of one offers an illumination to that of the other. References Sayers, L (1941). The Mind of the Maker (1st Ed. Ed.). London: Methuen

The Underdogs By Mariano Azuela - 1302 Words

The classic Willie Nelson and Waylon Jennings song â€Å"Mammas, Don’t Let Your Babies Grow Up to Be Cowboys† tells the sad, but familiar story of men growing up and leaving their families for reasons they do not fully comprehend. It is the women, however, in the novel The Underdogs, by Mariano Azuela, that understand this all too well. In The Underdogs, the author depicts Northern Mexican villages overrun by the Mexican Revolution sending impromptu soldiers to fight the war, leaving few citizens left behind with essentially nothing. Azuela paints a picture of the tremendous pressure put on the citizens of Northern Mexico during the Revolution and we see this through his descriptions of massive casualties and families feeling incredible pain due to the absence of their loved ones everyday. Azuela uses this wartime atmosphere to describe how important women in Mexico were at this time and their significance during the Mexican Revolution. Although degradation and manipula tion of women are quite obvious themes throughout the story, we see that the women of Mexico played a major role in the Mexican Revolution, whether they fought in the battles themselves, or were just a fading memory in a soldier’s mind. To fully understand the significance of women and their treatment in this time, one must first understand the tension going on in the region. Pancho Villa, the leader of the Mexican revolutionist, proclaimed himself as the military governor of the state of Chihuahua, a state inShow MoreRelatedThe Underdogs By Mariano Azuela1416 Words   |  6 PagesThe Underdogs by Mariano Azuela is arguably the most important novel of the Mexican Revolution because of how it profoundly captures the atmosphere and intricacies of the occasion. 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Mariano Azuela s The Underdogs ( Los De Abajo )1320 Words   |  6 Pagesthat were finally implemented was not worth the senseless violence that wracked Mexico. Mariano Azuela, in his novel The Underdogs (Los de abajo), examines this notable problem of the Mexican Revolution through the narrative of a band of rebel soldiers. Their leader is a poor, illiterate, Indian Demetrio Marcà ­as, with his trusted aide the educated, city-boy, journalist Luis Cervantes. As displayed in The Underdogs, the disillusionment with the revolution resulted from the lack of a clear purpose forRead MoreMariano Azuelas the Underdogs1512 Words   |  7 PagesMariano Azuela’s The Underdogs, is about a brotherhood of the Mexican people taking a journey with only one thing on their mind; revenge against Huerta and the Federales. In this story, we as the reader are confronted with characters, such as Demetrio Macias, who is destined to lead his people int o the depths of retaining an incorrupt lifestyle and hopes to find peace from the effect of war. Although Demetrio is seen as one of the main characters in the novel, we are also briefly engaged in the otherRead MoreA Reflection Of The Mexican Revolution1713 Words   |  7 PagesA Reflection of the Mexican Revolution â€Å"’I love the revolution like a volcano in eruption; I love the volcano because it’s a volcano; the revolution because it’s the revolution!’† cries a revolutionary soldier in Azuela’s The Underdogs (159). The Mexican Revolution of 1910 was aimed to overthrow the dictatorship of the Mexican government, which was in constant turmoil as presidents were constantly toppled from power. Porfirio Diaz, the president at the time the uprising began, was removed fromRead MoreThe Underdogs Essay837 Words   |  4 PagesHIST 342 The Underdogs Second Examination (Part I) Mariano Azuelas The Underdogs tells the story of a dauntless Indian farmer who almost unintentionally rises to a generalship in Pancho Villas rebel army during the Mexican Revolution of 1910. Though the events that occur throughout the book are not actual events that took place during the revolution, Azuela is able to paint a very realistic picture of the revolution and leaves a bitter taste in the mouth of the reader as one witnesses theRead MoreWomen of The Underdogs We were asked to write a 7-8 page paper on Mariano Azuelas The Underdogs, and how women were portrayed in it, as well as whether or not we felt the portrayal was accurate.2391 Words   |  10 PagesWomen of The Underdogs Mariano Azuelas novel, The Underdogs, is a male-dominated novel. The story of the exploits and wartime adventures of a rebel band during the Mexican Revolution is primarily driven by men; the majority of the characters are men who are separated from their families and lives and who are fighting for a cause in which they strongly believe (at least at the beginning of the novel). Despite the masculine story, however, there are two highly developed and significant female characters

Comparison of Two Poems the Tyger and the Lamb

I chose to do the comparison between ‘The Tyger’ and ‘The Lamb’ because they both have similar themes but are concerned with very different aspects of life. ‘The Tyger’ concentrates on the dangers to be faced in life and nature while ‘The Lamb’ celebrates nature as seen through the innocent eyes of a child. Blake examines different, almost opposite or contradictory ideas about the natural world, its creatures and their Creator. William Blake is the narrator of both poems which emphasizes his questioning of creation and religion as themes in the two poems. The simplicity of Blake’s use of rhyming couplets in both poems makes them easy to read and remember. The poems have a rhythm similar to a nursery rhyme which makes them†¦show more content†¦The mighty beast is a whole world of experience outside ourselves, destructive but also terrifyingly beautiful. Blake realizes, of course, that God made all the creatures on earth. However, to express his bewilderment that the God who created the gentle lamb also created the terrifying tiger, he includes Satan as a possible creator while raising his rhetorical questions for example ‘In what distant deeps or skies, Burnt the fire of thy eyes?’ In the 2nd stanza of ‘The Lamb’, the line ‘I a child thou a lamb.’ could mean that the poet William Blake is restored to the state of Innocence by Jesus Himself. The power of the poem, ‘The Lamb’ lies in the question repeated four times: ‘Who made thee?’ and Blake invites us to ask this profound and fundamental question of ourselves. The repetition of this question could also imply that Blake doubts that he who created innocence symbolized by the lamb would also create an evil portrayed by the tiger. ‘The Tyger’ is ruled by symmetry: symmetry between stanzas, between lines and within lines. For this reason, one of the details that leaps out at us immediately is the lack of symmetry between the first and last stanzas, where a single word ‘could’ in stanza 1 is changed to ‘dare’ in stanza 6. Compare ‘What immortal hand or eye could frame thy fearful symmetry?’ with ‘What immortal hand or eye dare frame thy fearful symmetry?’ The first question asks if there is any power thatShow MoreRelated Comparison of the Poems The Tyger and The Lamb Essay1217 Words   |  5 PagesComparison of the Poems The Tyger and The Lamb In William Blake’s Songs of Innocence and Experience we are confronted with a powerful juxtaposition of nature. The innocuous ‘lamb’ and the ferocious ‘Tyger’ are designed to be interpreted in comparison with each other. Both creatures innovatively define childhood, they provide a contrast between youthful innocence and the experience of age contaminating it. ‘The Lamb’ is simplistic in vocabulary and style, Blake uses childish repetitionsRead MoreThe Contrasting World Views in William Blake’s â€Å"the Lamb† and â€Å"the Tyger†941 Words   |  4 PagesThe Contrasting World Views in William Blake’s â€Å"The Lamb† and â€Å"The Tyger† A person’s view of the world is very situational, depending on their life experiences and their religious beliefs. William Blake examines two different world views in the poems â€Å"The Lamb,† and â€Å"The Tyger.† These poems were written as a pairing which were shown in Blake’s Songs of Innocence and Songs of Experience respectively. While the first poem deals with a view of the world as innocent and beautiful, the other suggestsRead MoreThe Lamb and the Tyger Essay1437 Words   |  6 PagesThe Tyger and The Lamb by William Blake, written in 1794 included both of these poems in his collection Songs of Innocence and Song of Experience, takes readers on a journey of faith. Through a cycle of unanswered questions, William Blake motivates the readers to question God. These two poems are meant to be interpreted in a comparison and contrast. They share two different perspectives, those being innocence and experience. To Blake, innocence is not better than experience. Both states haveRead More, Allusion, And Symbolism In The Tyger By William Blake771 Words   |  4 PagesIn the poem â€Å"The Tyger† by William Blake, the use of rhyme, repetition, allusion, and symbolism all help the reader understand the theme and what was going through the authors thoughts while writing. William Blake was a mystic poet who channeled his thoughts and questions to write poems. He questioned the creator of both the Tyger and lamb, how could the same God create a destructive creature like the Tyger and on the other hand create a gentle animal, the lamb. This ties into the theme of theRead MoreWilliam Blake s The Lamb And The Tyger1493 Words   |  6 PagesInnocence and of Experience: Showing the Two Contrary States of the Human Soul (1794). Two standout poems, â€Å"The Lamb† and â€Å"The Tyger,† respectively taken from Songs of Innocence and Songs of Experience, demonstrate Blake’s meditation on how innocence and experi ence in life create a binary and complementary relationship that is observable in our outer world as well as in our inner being. As one of the titles in his Songs of Innocence, William Blake chooses the lamb, naturally gentle and docile, as a representativeRead MoreWilliam Blake in Contrast of Songs of Innocence and of Experience1452 Words   |  6 PagesEN 222-Intro to British Lit. II April 21, 2012 William Blake in contrast of Songs of Innocence and of Experience William Blake, an engraver, exemplified his passion for children through his many poems. Blake lived in London most of his life and many fellow literati viewed him as eccentric. He claimed to have interactions with angels and prophets, which had a great influence on his outlook of life. Blake believed all prominent entities, those being church, state, and government had become sick withRead MoreEssay on The Symmetry: A World with Both Lamb and Tiger1063 Words   |  5 Pagespain and terror? The Tyger by William Blake, written in 1794 and included in his collection Songs of Innocence and Experience, takes readers on a journey of faith. Through a cycle of unanswered questions, William Blake motivates the readers to question God. Blake sees a necessity for balance in the world, and suggests to the readers that God created a world with a balance of good and evil so that humanity can see goodness more clearly through contrast and comparison. This theme is achievedRead MoreComparison between the Tyger and the Lamb518 Words   |  2 PagesComparison between the Tyger and the Lamb The Tyger and the Lamb were printed five years apart within two separate collections of poems. The Lamb was within Songs of Innocence (1789), and the Tyger was within Songs of Experience (1794). The two collections came together to be Songs of Innocence and of Experience Showing the Two Contrary States of the Human Soul. This should be viewed as significant because the revised name itself shows the two poems contradictions. The two poems display contrastingRead More Creating Blakes Tyger Essay3597 Words   |  15 PagesCreating Blake’s â€Å"Tyger† The Eighteenth-century British Romantic, William Blake, was an accomplished painter, engraver, and illustrator during his lifetime, but is best remembered for his poetry. Though Blake’s genius was generally dismissed by the public of his own era and he died with little acclaim, he has since been regarded as one of the greatest figures of the Romantic Movement. Whether with paint or pen, Blake is renowned for his ability to create works of art which, overRead More Comparison of The Lamb and The Tyger by William Blake Essay2199 Words   |  9 PagesBlake’s ‘Songs of Innocence and Experience examine these different states. Blake wanted to show the two contrary states in the human mind. The Lamb and the Tyger are just vehicles for Blake to express what he feels happens to people as they grow, develop and eventually become perverted by the world around them. Blake’s background and occupation greatly influenced the style and content of his poems. He lived during the 18th Century when the church was beginning to lose its grip on British society;

Understand the Role of the Nurse Free Essays

Introduction The purpose of this assignment is to explore the professional responsibilities of the nurse and their role in safeguarding vulnerable patients, all of which are based around a fictitious scenario. The scenario is centred on a patient named Margaret and is going to be used to identify any vulnerability issues Margaret may have. Margaret could be identified as been vulnerable, as she is an 89 year old lady who is suffering from a heart condition. We will write a custom essay sample on Understand the Role of the Nurse or any similar topic only for you Order Now Margaret is currently living with her daughter and has said that her mother’s health has begun to deteriorate. Margaret is becoming very confused and forgetting to take her medication which has resulted in numerous admissions to hospital. No consent was needed on this occasion as it is a fictitious patient. Based around this fictitious scenario, the aim is to discuss and identify vulnerability and any issues arising from it. Exploring all aspects of vulnerability involving all models and discussing confidentiality, looking at the importance of it and why it should be maintained. This assignment will also look at the mental capacity act and how the nurse and other healthcare professionals assess the patient for capacity and use the models of assessment. All these are in place to protect the patient’s health and well-being and patient rights. Communication is another important skill for any nurse to have. Good communication skills are essential in providing a high standard of care, which will be explored and discussed in detail. It will also explore what accountability and responsibility is within the nurse’s role. The nurse being accountable for their actions and adhere to the Nursing and Midwifery Councils (NMC), Code. â€Å"The core function of the Nursing and Midwifery Council is to establish standards of education, training, conduct and performance for nurses and midwives to ensure those standards are maintained, thereby safeguarding the health and well-being of the public† (NMC, code, 2009). It will then identify and explain how the patient’s autonomy might be promoted by the nurse, highlighting the support available and with the nurse building a therapeutic relationship with the patient, relating to scenario whilst maintaining appropriate professional behaviour and interventions. Overall this assignment will explore and discuss many of the NMC guidelines about the above topics. It will give you an understanding of the nurse’s role involved in delivering the best possible care to the public. Firstly to explore accountability within the nurse’s role The Nursing and Midwifery Council states, â€Å"Accountability is often defined as responsibility, but there is a difference between the two. Responsibility is concerned with answering for what you do, whereas accountability is being answerable for the ‘consequences’ of what you do† (NMC, 2009). How to cite Understand the Role of the Nurse, Essay examples

Economic & Financial Analysis For Engineering & Project Management

Question: Describe about the Economic Financial Analysis For Engineering Project Management? Answer: Introduction Barclays Plc is a multinational banking and financial service organization with its headquarter in London. The financial performance of the company has been analyzed. The performance has been compared with Lloyds Plc. The impact of tax policies and the external environmental factors on Barclays has been assessed in the paper (barclays.com, 2014). Impact of external environmental factors on Barclays Plc The financial performance of Barclays Plc will be affected by the external environmental factors. The future performance of the company will be affected by the external environmental factors (Ardalan, 2000). Political factors The recent political news does not have much impact on the bank performance. The growth of Barclays Plc will depend on the political stability of UK and entire Europe. The political instability in UK followed by tensions and turmoil will affect the performance of the banking sector. The major policies implemented by the Government are either in favor or against the financial sector. The monetary and the financial policies affect the performance of the bank significantly. The business model of the organization and the integrated investment banking will find its strength in the existing conditions in the market. The BASEL rules on the capital of the bank which has stated that the Banks need to hold 10% of the total assets as capital, adjusted with risk has to be maintained by Barclays. The financial performance of the company for the year 2014 was poor than the previous year due to conditions prevailing in the market and the low level of activity (Barr, 2002). This tends to impede the growth of Barclay. Legal factors The legislations introduced in UK between 2012 to 2014 do not have much impact on the economy. The legal regulations will have significant impact on Barclays Plc. The Single Banking License was implemented by the countries in Europe in the year 1990. This has allowed the banks to branch in a free way in the other countries of Europe. There have been numerous regulatory mechanisms introduced by the European countries that govern the banking sector. This is done for the harmonization of the banking system across the nation. This has resulted in the formation of a single competitive market. However the negative effect of such competition has been faced by the European banks. In order to revive the economy, the government in UK has put pressure on the Barclays Bank to join the British Treasury. Barclays has been charged with lump sum compensation several times. They were caught of allegedly benefitting the companies in UK from continuing business in South Africa. This forced Barclays to pull out of South Africa. The banking regulations were tightened as a result of such scams. Economic factors The past demeanors of the traders have forced to charge around 750 million pounds on the bank. The cost cutting for the bank has improved the capital strength and the unwanted assets have been shed. The lack of returns on a timely basis has affected the financial performance of the bank. This has impact on the profitability with rise in nonperforming assets. The economic condition of the country in which the bank is operating plays a major role in determining the financial performance of the bank. The monetary and the fiscal policies determine the income of the bank for a particular fiscal year. There is existence of large number of private banks in UK. This has increased the competition on Barclays Bank. This has affected the income of Barclays bank. The bank is losing its market share to Bank of Scotland. The competition is regarding better service and rate of interest and other additional facilities. The share price of the company is determined from its performance and service to the customers. The downturn in the economy such as recession results in decline in the performance of the organization (Bayraktar, 2008). This affects the profitability of the organization. The various macro economic factors such as inflation, rate of employment, GDP play a major role in determining the economic policies which determines the performance of th e bank. The interest and loan rates are determined according to the fiscal condition of the country (Bankofengland.co.uk, 2015). Financial factors The rise in the non performing assets has been a major concern for Barclays. This has resulted in increase in cost cutting of the bank. The profitability of the bank has been affected. The share price of the bank has fallen by almost 3 percent. The share price of Barclays has fallen the most proving it to be one of the weakest banks. The financial factors such as current account status, fiscal status of the country are a major factor in determining the performance of the company. The global and the local regulatory standards of the market affect the performance of Barclays Plc. The measures introduced by the Central bank are important for determining the performance of Barclays Plc. The unprecedented policies introduced by the Central Bank of UK includes the quantitative easing policy and the near zero interest rate (Bankofengland.co.uk, 2015). The policies were introduced to stimulate growth in the country. There have been further regulatory changes in the form of structural reforms in US and UK that will segregate the activities of the banks. This will result in the creation of a safe working environment. The focus will be on the activities such as funding, liquidity and capital (Broll, Welzel and Wong, 2014). The conduct issues have affected Barclays and the banking sector was adversely affected. This will red uce the trust among the share holders. This will affect the share price of the bank. The trust of the customers can be gained via the introduction of the innovative policies, automotive policies and the minimizing the risk of the banks. Specific risk management strategies and framework plays a major role in dealing with the potential risks affecting the banking sector. The framework will assist the bank in its decision making. Impact of currency risk The fluctuations of the exchange rate have significant impact on the growth of Barclays Plc. The profit of the company can be adversely affected by the fluctuation in the currency. It affects the cash flow and the earnings of the bank. The major movement of the exchange rate leaves the bank in a vulnerable situation resulting in the reduction of profitability and reduced value of assets. The economic trends determine the movement of currency. The strengthening of the British economy and weakening of the Euro zone will result in investors selling Euros and buying pounds. This will tend to push up pound further. The interest rate will be taken into consideration by Barclays Plc. The major activity in the foreign exchange market occurs with the borrowing of currency where the rate of interest is low and the investing in the currency where the rate of interest is high. The Central bank and the government play a major role in the determination of the currency value (Barclays.co.uk, 2015). Strategies to mitigate currency risk The foreign exchange risk is mitigated by Barclays Bank by the introduction of the following measures. Barclays Plc has range of products that mitigates and reduces the risk as a result of major movement of the currency. In order to reduce the risk, Barclays has introduced several products which will reduce the risk as a result of volatility of exchange rate. It has introduced option, forward and spot market contracts to reduce the risk of currency fluctuation and the capture the margin opportunities. The FX needs of the business have been addressed by Barclays Plc by the introduction of the range of solutions. The solutions proactively address to the needs of the business. The real time trading exchange rate information can be obtained by customers using the online self service platform of Barclays Plc. This provides flexibility to the various transactions in the FX market over the wide range of currencies. Barclays Plc provides online integrated solutions for online business activity that help to manage the FX risk (Barclayscorporate.com, 2015). Analysis of financial performance of Barclays Plc 2014 2013 Profitability ratios million pound million pound Gross profit margin 9% 10% Return on capital employed 3% 4% Net profit margin 3% 5% Earnings before tax 2256 2868 Liquidity ratios Current ratio 69% 82% Acid test ratio 69% 82% Trade receivables ratio 454% 468% Trade payable ratio 178% 188% Efficiency ratio Working capital ratio -136% -284% Asset turnover ratio 2% 2% Accounts receivables turnover ratio 22% 21% Profitability ratios i. Gross profit margin The gross profit margin for Barclays Plc for the year 2014 was 9% while it was 10% in the year 2013. The decline in the gross profit margin is a result of difficult market conditions in UK. This has resulted in the low levels of activity (Brigham and Houston, 2004). ii. Return on capital employed The ROCE for the year 2014 was 3% while it was 4% for the year 2013. The return on capital employed is a decline in the profit before tax in the year 2014 than 2013. The low levels of activity are the major reason affecting the profitability of the firm. iii. Net profit margin The net profit margin for Barclays Plc in the year 2014 is 3% while it is 5% for the year 2013. The decline in the net profit margin is a result of the decline in the income of the bank in the year 2014 due to conditions persisting in the market and the low levels of activity (Brigham and Houston, 2004). iv. Earnings before tax The EBIT of Barclays Bank for the year 2014 is 2256 million pound while it is 2868 million pound for the year 2013. The decline is a result of decrease in the net income of the bank as a result of low level of activity. Liquidity ratios i. Current ratio The current ratio for Barclays Plc for the year 2014 and 2013 does not meet the ideal range of the ratio of 2:1. This shows that the company is not being able to utilize its current assets in an efficient manner to repay the current liabilities (Decker, 2005). ii. Acid test ratio The acid test ratio indicates the ability of the organization to pay off its current liabilities without using the inventory. In the financial statement of Barclays Plc, no information regarding inventory is provided. Thus it would be same as current ratio (Fridson and Alvarez, 2002). iii. Trade receivables ratio The trade receivables ratio for Barclays Plc is much high for 2014 and 2013. This indicates that the company has large number of debtors in the market. iv. Trade payable ratio The trade payable ratio for Barclays Plc is high for the year 2014 and 2013. This is an indication that the company making its payment regularly (Guo, n.d.). Efficiency ratio i. Working capital ratio The working capital ratio for Barclays Plc for the year 2014 and 2013 is negative. This is due the increase in current liabilities of the company than the current assets. Thus the company requires managing the working capital in an efficient manner (Helfert and Helfert, 2001). ii. Asset turnover ratio The asset turnover ratio for Barclays Plc is 2% for the year 2014 and 2013 respectively. It is seen that the assets for Barclays Plc has increased in the year 2014 due to increase in the derivatives. This is a result of forward rate of interest and the US dollar has strengthened than the other currencies (Hunter, 2001). iv. Accounts receivables turnover ratio The accounts receivable turnover ratio of Barclays Plc for the year 2014 and 2013 is 22% and 21% respectively. The ratio shows the ability of the company to collect its receivables in an efficient manner. A higher ratio is always preferable which shows that the company is able to collect its receivables frequently. The ratio for Barclays Plc has been consistent for the two years. Comparison of earnings per share and gearing ratio of Barclays Plc with Lloyds plc 2014 Barclay's Plc Lloyd PLc Earnings per share (0.7)p 1.7 p Gearing ratio 19.58743443 16.13115 Earnings per share and Gearing ratio for the year 2014 The earnings per share for the year 2014 of Barclays Plc are negative while it is positive for the year 2014. The earnings per share for Barclays Plc is (0.7)p while for Lloyd Plc it is 1.7 p. The decline in earnings per share for Barclays Plc is due to the decline in the profit after tax for Barclays Plc in the year 2014. The profit after tax for Barclays Plc for the year 2013 was 1297 million pound while it is 845 million pound for the year 2014. There has been 36 % decline in the profit after tax. This is due to the unstable conditions of the UK market followed by low level of activity of the bank for the financial year 2014. The total income of the company has declined in the year 2014 from 28444 million dollars in 2013 to 25768 million dollars. The decline is a result of low level of banking activity in 2014. On the other hand it is seen that the earning per share for Lloyds Plc has been positive. The company has shown a strong financial performance in the year 2014 as a result of its three years strategic decisions that was focused towards delivering the benefits to the customers and the share holders. The company has risen from its loss in 2010 of 0.9 billion pounds to 7.8 billion pounds in the year 2014. The company has reduced its expenses to a considerable extent with lower impairment charges (Paramasivan and Subramanian, 2009). The gearing ratio for Barclays Plc for the year 2014 is 19.58 while the gearing ratio for Lloyd Plc for the year 2014 is 16.13. The gearing ratio is a measure of the proportion of the borrowed funds to the equity (Phylaktis, n.d.). The high ratio indicates that the company is subjected to excessive debt. A lower gearing ratio is preferable. The gearing ratio for Barclays Plc is high than that of Lloyd Plc. This shows that the debt composition of Barclays Plc is much higher than that of Lloyd Plc (lloyds.com, 2014). This could be a potential risk for Barclays during unfavorable economic and financial condition of the country (Phylaktis and Ravazzolo, n.d.). Impact of development of national and international tax policies on Barclays Plc. The development of the national and the international tax policies will have significant impact on the financial performance of Barclays Bank. The tax rate cut will increase the after tax profit of Barclays Plc. However a tax cut will result in the increase in the federal budget deficit. This will reduce the national savings of the country along with rise in the interest rates. The net impact on the growth will be uncertain. It will have a potential impact on the growth with the reduction in labor supply, saving and investment. However all tax changes will not have same impact on the growth of the economy. The diverse tax policies across the countries will provide the multinational organization incentives to alter the transfer prices. The company has to implement strategies to reduce the impact of the high tax (Chan, Leng and Liang, 2014). Conclusion The financial performance of Barclays Plc has been analyzed in the paper. The impact of the external environmental factors on the economy has been assessed. It is seen that the financial performance of Barclays Plc is affected by low level of activity and the prevailing condition of the market of UK. The global financial services of Barclays are governed by the local and the global regulatory standards persisting in the country. The monetary policies by Central Bank will stimulate the growth of Barclays Plc. The future growth of the company will depend on the innovative policies introduced by the bank. References Ardalan, A. 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