Dramatic changes in the London areas Free Essays

Whilst working on this project I have collected a series of results. My results consist of how the Central Business District (CBD) shows us the Burgess Model. As you can see by the map below London clearly shows the rings of the Burgess Model. We will write a custom essay sample on Dramatic changes in the London areas or any similar topic only for you Order Now This is just one of many maps of London that shows the Model. I found that what I intended to find from research such as maps and graphs was correct. 1) Danecourt Gardens 16 2. Carnforth Gardens 4 3. Gale Street 9 4. Harold Road -3 5. Queens Road West 4 6. Wellington Way -15 7. Bow road 4 One of the first destinations we visited was Danecourt Gardens, as you can see my results show that this location was the highest point on my graph. Danecourt Gardens showed high quality, well-designed detached properties in good condition. The range of properties in this area command high prices. This area demonstrated a safe environment consisting of uncongested streets, which resulted in easy parking and access that in turn creates little pollution. The area was attractive in design and of a good reputation; there was plenty of open space and greenery. In general this is a desirable area to live in. On the other end of the scale my graph shows a completely different story. For instance on visiting Wellington Way, which was one of my last places to visit, this graph will show expensive but badly designed and in poor condition properties. From my observations the majority of properties I saw were tower block flats. As a result of these designs it is commonly described, as a Concrete jungle. Due to this area of design parking for non-residents was difficult, parking for residents was provided by way of designated car parks. In general there was little open green space, the majority being tarmac and paving. I also observed a large amount of vandalism consisting of graffiti and damage to street furniture. Of all the locations I visited in my opinion I found Wellington Way was the poorest. Key Question: The environmental areas vary as we go further out of the Burgess Model. Going from the CBD the first type of housing you come to would be terraced housing. The last section of the burgess model would be luxury high class residential, so from the first housing section to the last you can clearly see how much the type of housing improves. Hypothesis The environmental quality clearly has an improved change with the further you travel from the CBD. My Conclusion In my conclusion I found dramatic changes in the London areas, starting with the CBD and travelling out to the more high-class residential areas. I found that this study highlighted the environmental quality within the east London areas starting with Upminster working our way down to Plaistow. I would say that quality housing usually attracts a different class of people compared to the central areas of London’s terraced housing. I found that the number of detached properties greatly out numbered that of semi and terraced houses. Working my way towards the CBD the pattern of housing changed dramatically there was the occasional detached property but in main it was dominated by semi detached properties. One of the problems of this type of housing is that off road parking is poor. This makes a problem of congested streets. Eventually on reaching the centre of London all property was either terraced of flat accommodation. These particular types of properties provide no parking other than permit holders or at payment metres. The further I progressed into London the more obvious that parking was a serious problem. Gardens eventually became non-existent; the only means of relaxation was by way of balconies or rooftops. Graffiti is an environmental problem of which London has its fair share. Graffiti is wide spread over almost everything. London can be a nice place to live in, it all depends on your financial position. How to cite Dramatic changes in the London areas, Papers

The Migration System Of Australia Samples †MyAssignmenthelp.com

Question: Discuss about the Migration System Of Australia. Answer: European settlements initiated in Australia in 1788 when the population was merely 40000 and the present population of Australia is around 30 million. One of the primary reasons for such increase in population has been the number of migrants entering into Australia. For this reason there was a need of a strong migration system in the country. The migration system of Australia has witnessed several changes in its history. The migration system started from only European people and now accepts multiculturalism. One of the most popular reforms in relation to the migration system in Australia has being the shift from white policy to multiculturalism. Prior to 1956 non-European residents were not allowed to become Australian citizens. However after this period citizenship was offered to those who did not have a European background. Gradually mixed race migration was increasing in Australia and the country entered its initial migration agreement (Non-European) with Turkey. In 1978 structured selection replaced the quota system which was based on reservation of racial homogeneity and country of origin. According to this policy rather than the country of origin migrants was selected on the basis of there social and personal attributes and occupational group. Australia was declared as a multicultural society in 1973 and from this period all practices in relation to racial or ethnic discrimination had been abolished. It was provided through the Australian Citizenship Act 1973 that equal treatment h as to be provided to all migrants coming to Australia. Due to this policy thousands of people started to arrive in the country by boats from countries like Vietnam, China, Middle East and East Timor. All such peoples were subjected to mandatory interment during the period where there claim for a Refugee status was assessed. However for this reason Australia had been subjected to criticism by United Nations and Amnesty International in relation to detaining all illegal migrants which also included children. The practice is still applicable in the Australian migration system[1]. An enquiry was led by Fitzgerald in 1988 which suggested future changes in the migration system by moving away from a process of family reunion and putting emphasis on business and skill categories. The year 1981 witnessed the abolishment of the assisted passive scheme and only refugees were provided certain level of support while they arrived in Australia. New Zealand for the first time took over the number of British migrants arriving in Australia the year 1996. One of the reasons for this situation is also the renewed prosperity in European countries and migrants from New Zealand are now followed by countries like India, South Africa and China rather than Greece or Italy. Citizens of Countries which have been unrepresented previously are being accepted as refugees by Australia due to overseas conflicts. Therefore the primary achievements which has been made by the migration system in Australia is in relation to introduction of multiculturalism and shifting from a discriminative an d unproductive selection criteria to a criteria based on skills and knowledge. However there is a significant area in the current Australian migration system which needs to be addressed appropriately to ensure that the system is fair and just. According to ABC News there are several immigrants who have been kept under immigration detention by the Department of Immigration and Border Protection[2]. It has been argued by Doherty that the current system of keeping people under immigration detention by Australia is a crime against humanity[3]. People are put into immigration detention for an indefinite period by the Australian government until their immigration status is assessed. This assessment period may take a significant time until then the people have to stay in immigration detention facilities which are also not up to a relevant standard as stated through humanrights.gov.au [4]. The state of people residing in Australian immigration detention facility is very poor. In the given situation it would be suggested that the issue in relation to immigration detenti on is addressed by the migration system. If Australia would be able to address the issue related to immigration distension all criticisms which the country has been subjected to from the United Nations and Human Rights agencies would be significantly reduced. This situation may be initiated by setting out prescribed time frame beyond which a person would not be kept under immigration detention. Setting a time limit in relation to the assessment of a persons immigration status would provide them with significant mental support. The Australian government can also enhance the facilities which are provided in the immigration detention centres. Bibliography AustraliaS Migration History | NSW Migration Heritage Centre (2018) Migrationheritage.nsw.gov.au https://www.migrationheritage.nsw.gov.au/belongings-home/about-belongings/australias-migration-history/index.html Australia's Offshore Detention Centres 'A Crime Against Humanity' (2018) ABC News https://www.abc.net.au/news/2017-02-14/offshore-detention-centres-crime-against-humanity-icc/8270028 Ben Doherty, Australia's Indefinite Detention Of Refugees Illegal, UN Rules (2018) the Guardian https://www.theguardian.com/law/2016/may/18/australias-indefinite-detention-of-refugees-illegal-un-rules. Immigration Detention And Human Rights | Australian Human Rights Commission (2018) Humanrights.gov.au https://www.humanrights.gov.au/our-work/asylum-seekers-and-refugees/projects/immigration-detention-and-human-rights

The New Combination

The movie, The Obama Deception, and the readings from Dyer-Witheford’s the New Combination have become a popular narration of the reality of who the new president of the USA, Barrack Obama, really is.Advertising We will write a custom essay sample on The New Combination specifically for you for only $16.05 $11/page Learn More They have been used by their authors to represent the facts they have collected about the life of the then newly elected president and all the evidence they had about any reasons that may have motivated citizens of his country into voting for him and allowing him to become the leader of the number one super power in the world. These authors also try to give evidence related to the fact that president Obama was actually on the way to breaking his promises to his country and to the whole world (Dyer-Witheford 1). There is a lot of evidence that relates to the fact that the president is not in power as an individual, talented ru ler but rather as a representative of several powerful individuals, organizations and groups. Of more concern is the fact that all these powerful set-ups are behind the power and fame that Obama gained and that led to his election as the president. In fact, there seems to have been little real effects of the public to the election of then president than there was in the forces behind him. One main group that was viewed as being key to the election of Obama as the president of his country was the group popularly known a ‘the elites’, which was a combination of different groups and individuals who held both power and financial control in the country. The group consisted of the council on foreign relations (CFR) and the Tri-Lateral Commission among other groups. There was a relationship between the main leadership of the country and the group, the elites. This was the same case that led to the election of the president since the group had already shown interest in Obama as their candidate and representative in the government. The group was immensely involved in financing of the main campaigns for the president as well as offering a lot of advice and support for the president. When Obama became the president of USA, therefore, there was a lot that he could do in line with the requirements of the organizations that were behind his success and consecutively the president was already submitting to a higher authority at his duties and overall as a president. Obama could not be able to fully become independent and self-sufficient in a manner that he could be able to carry out his normal duties at his expense and also make decisions on his own.Advertising Looking for essay on political sciences? Let's see if we can help you! Get your first paper with 15% OFF Learn More On the other side, though Obama had a strong and admirable personality, he had to bow to a higher authority that dictated much of his principles, goals, objectives and strategie s. For example, there was a need for Obama to make very many promises during his campaigns. This was a strategy that helped him to capture the attention of all the citizens so they could vote for him. However, the implementations of all the strategic plans as he had promised were hampered by the organizations that were above him. He had to be directed on the course that he could take as a representative of those groups and hence performed duties as one under some force or power (Dyer-Witheford 17). One of the main reasons that led to the failed delivery of the promises Obama made to the citizens was the main mission of the elites group that required him to aid them in achieving their mission which was summarized into a global agenda. The agenda involved strategizing for new and more effective ways of delivering globalization to the citizens of the country and all the other countries hence leading to a point where all the involved countries could be placed under one ruler and a simil ar order. There is hence a lot of evidence that supports the fact that Obama is not just a world figure and a leader but rather a representative of greater and more powerful forces behind him. Work Cited Dyer-Witheford, Nick. The New Combinations: Revolt of the Global Value-Subjects. New York: McGraw-Hill/Irwin, 1951. Print. This essay on The New Combination was written and submitted by user Christina U. to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Ann Richards Quotes

Ann Richards Quotes Ann Richards was governor of Texas from 1991-1995. When Ann Richards was elected State Treasurer in 1982, she was the first woman elected to statewide office in Texas since Ma Ferguson. Richards was reelected in 1986, unopposed, and then ran for governor in 1990. She came to national prominence with a keynote speech at the 1988 Democratic National Convention. In her 1994 reelection campaign, she lost to George W. Bush, the son of the presidential candidate shed skewered in 1988. Selected Ann Richards Quotations Im not afraid to shake up the system, and the government needs more shaking up than any other system I know. I have very strong feelings about how you lead your life. You always look ahead, you never look back. The here and now is all we have, and if we play it right its all well need. I have always had the feeling I could do anything and my dad told me I could. I was in college before I found out he might be wrong. They blame the low income women for ruining the country because they are staying home with their children and not going out to work. They blame the middle income women for ruining the country because they go out to work and do not stay home to take care of their children. I feel very strongly that change is good because it stirs up the system. I did not want my tombstone to read, She kept a really clean house. I think Id like them to remember me by saying, She opened government to everyone. Ive always said that in politics, your enemies cant hurt you, but your friends will kill you. Teaching was the hardest work I had ever done, and it remains the hardest work I have done to date. Let me tell you, sisters, seeing dried egg on a plate in the morning is a lot dirtier than anything Ive had to deal with in politics. Power is what calls the shots, and power is a white male game. If you think taking care of yourself is selfish, change your mind. If you dont, youre simply ducking your responsibilities. Im really glad that our young people missed the Depression, and missed the great big war. But I do regret that they missed the leaders that I knew. Leaders who told us when things were tough, and that we would have to sacrifice, and these difficulties might last awhile. They didnt tell us things were hard for us because we were different, or isolated, or special interests. They brought us together and they gave us a sense of national purpose. [1988 keynote address, Democratic National Convention] I have a real soft spot in my heart for librarians and people who care about books. You can put lipstick and earrings on a hog and call it Monique, but its still a pig. Women elected Bill Clinton this time. He acknowledges it, the country acknowledges it, and the columnists acknowledge it, and when you have that kind of political clout, you can effect change and do it well. And Im real proud to have been a part of that. I get a lot of cracks about my hair, mostly from men who dont have any. Let me tell you that I am the only child of a very rough-talking father. So dont be embarrassed about your language. Ive either heard it or I can top it. The public does not like you to mislead or represent yourself to be something youre not. And the other thing that the public really does like is the self-examination to say, you know, Im not perfect. Im just like you. They dont ask their public officials to be perfect. They just ask them to be smart, truthful, honest, and show a modicum of good sense. I believe in recovery, and I believe that as a role model I have the responsibility to let young people know that you can make a mistake and come back from it. There is a lot more to life than just struggling to make money. I thought I knew Texas pretty well, but I had no notion of its size until I campaigned it. Women, it was painfully clear, werent going to be allowed to use their brains and I certainly wanted to use mine. [Ive] been tested by fire and the fire lost. I hope all the WASP present and past will fly high on wings of our pride in their service ... you have my profound gratitude for the legacy you have given to us and the legacy you pass on to young women today. [about the Women Airforce Service Pilots] I believe Mama would have liked to have had more children, but times were hard and I was the only one. Daddy had the fear maybe that fear is indigenous to the Depression generation that he wouldnt be able to afford all the things he wanted to give me, and he wanted to give me everything hed never had. So they never had another child. Poor George, he cant help it. He was born with a silver foot in his mouth. [1988 keynote address, Democratic National Convention] I am delighted to be here with you this evening because after listening to George Bush all these years, I figured you needed to know what a real Texas accent sounds like. [1988 keynote address, Democratic National Convention] On How to Be a Good Republican: [excerpts] You have to believe that those privileged from birth achieve success all on their own.You have to be against all government programs, but expect Social Security checks on time.You have to believe...everything Rush Limbaugh says.You have to believe society is color-blind and growing up black in America doesnt diminish your opportunities, but you still wont vote for Alan Keyes.You have to be against government interference in business until your oil company, corporation or Savings and Loan is about to go broke and you beg for a government bailout.You have to believe a poor, minority student with a disciplinary history and failing grades will be admitted into an elite private school with a $1,000 voucher. Most of all, I remember those children in the classrooms and those kids who grabbed me around the knees, and I think of the old people who really need a voice when theyre trapped in wheelchairs in dirty nursing homes. The person in this office really must have a conscience to know that how they direct this government dramatically affects the lives of those people. Jill Buckley on Ann Richards: Shes sort of the female good old boy. You paid the price to some degree. You lost the governorship of Texas because this country still is a little bit schizoid, isn’t it, about the role of women in American politics? [1996 question of newsman Tom Brokaw to Ann Richards] More Womens Quotes: A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z Explore Womens Voices and Womens History Womens Voices - About Womens QuotesBiographies of WomenToday in Womens HistoryWomens History Home About These Quotes Quote collection assembled by Jone Johnson Lewis. Each quotation page in this collection and the entire collection  © Jone Johnson Lewis. This is an informal collection assembled over many years. I regret that I am not able to provide the original source if it is not listed with the quote. Citation information:Jone Johnson Lewis. Ann Richards Quotes. About Womens History. URL: http://womenshistory.about.com/od/quotes/a/ann_richards.htm . Date accessed: (today). (More on how to cite online sources including this page)

Theory of Constraints and the Public and Non-profit Organizations Essay

Theory of Constraints and the Public and Non-profit Organizations - Essay Example The theory of constraints is based on the practical implications of 'how to think' and deals with thinking processes and their applications. The theory of Constraints was originally developed by Eliyahu M. Goldratt who introduced the concept in his book, The Goal. The concept suggests that the world around us could be changed with a better understanding of the cause effect relationships between certain processes. The theory of constraints thinking processes or TPs are problem solving tools that show ongoing improvements raising questions on what to change and how to cause the change within any organisation (Goldratt 1984, Friedman, 2005). Some of the essential management skills that are essential to any system and recognized by TOC thinking processes would be communication, team building and empowerment. The theory of constraints thinking processes could be applied to production units, to distribution, marketing, sales, project management and laying out the direction of a company. In the Goal, Goldratt suggests that within any complex organisational system, there will be weaknesses and as within a chain the weakest link must be identified and corrected, so also within any organisation, the weaknesses will have to be identified as weaknesses coul... thin any organisation, the weaknesses will have to be identified as weaknesses could limit the ability of any system or company from achieving its goal. The TOC thinking processes or TPS provides an integrated problem solving methodology that help in construction of solutions, communications, collaboration and successful implementation of all solutions to problems identified within any organisation (Goldratt, 1984). The TOC Thinking Processes provides solutions to production, project management, distribution, supplier relations, sales and marketing and also provides generic solutions to specific organisational environments. The Theory of Constraints or TOC is based on the fact that there is at least one limiting factor that constraints the revenue generating process of a company (Friedman 2005). By increasing production rate of a company and initial implementation obstacles, TOC approaches could be used to identify constraints or bottlenecks, exploit these constraints to increase eff iciency of the company, elevate and downplay these constraints and repeat all the measures taken to overcome bottleneck. Some of the essential features of the theory of constraints include gaining agreement that a problem or limitation exists for a company, a direction is sought out to provide a solution to the problem, and negative ramifications and obstacles to implementation are overcome. Goldratt's theory of constraints not only helps identify constraints and helps improving organisational success, but also facilitates improvement for organisations and teams using solutions from the Theory of Constraints (Friedman, 2005). The Theory of Constraints is based on cause and effect logic as the cause of any production problems in a company is identified and sorted out and all local

E-Recruiting Research Paper Example | Topics and Well Written Essays - 1500 words

E-Recruiting - Research Paper Example E-recruitment is also referred to as online recruitment (Briscoe, 2012). The job applicants are expected to forward a CV together with the cover letter through online platforms. The job advertisers retrieve the CV and screen it (Schweyer, 2004). This procedure applies to multiple candidates seeking to fill the same position. This method differs with the traditional form of recruitment that used involve paper work, travelling and interviewing. Technology allows online interviews and selection processes. Studies show that over 55 percent of software developers and engineers recruited in the United States followed the online procedure. Majority of the engineers came from India and were interviewed through video conferencing and online testing (Hopkins & Markham, 2003). This has allowed companies to get the best skills from the global market. E-recruitment is not effective when there is a vital need for physical interactions with the clients or interviewees. The striking advantage of e-r ecruitment is the enhancement of access (Schweyer, 2004). The applicants can overcome geographical barriers when it comes to applying for a job. The process gives the applicants instant replies unlike the traditional systems (Hopkins & Markham, 2003). As more people gain access to technology, e-recruitment is growing at a fast rate. It has made the processing of employees data faster and efficient (Hopkins & Markham, 2003). Modern organizations use agencies that adversities vacancies at cost effective prices (Briscoe, 2012). A telling example is Nike which has gained tremendously from the installation of the software ‘active recruiter’. This helped reduced the time of refilling vacancies by almost a month. Resumes can be stored in large data bases and information is seldom lost. The process of mitigating unwanted results involves ensuring foolproof software is used in the e-recruitment process. Each applicant is treated as a potential employee (Briscoe, 2012). Therefore , the online platform used in the recruitment process is designed to ensure that job applicant reveals their potential and vision for the applied position. This entails having installation of effective and efficient data base software and the use of competent personnel (Hopkins & Markham, 2003). The software ensures that recruiter is part of the process and applicants have active and responsive profile pages on websites (Brewster, 2003). The online system for recruitment sends automated messages to the applicants after some duration (Juana-Espinosa, 2012). This ensures the system remains updated. Studies show that e-recruitment has saved over 50 percent of recruitment costs. Mitigating unintended results Organizations must ensure they use competent staff in carrying out the online procedures (Hopkins & Markham, 2003). The human resource information systems should be customized to meet the goals and expectation of the company (Brewster, 2003). HRIS should encourage a response and int eractive environment between the employees, management and job applicants. The information technology department should recommend the most efficient software through careful research and recommendations (Hopkins & Markham, 2003). Organizations through invest is secure systems to ensure that the hackers have to access to private information. An increasing number of organizations are becoming vulnerable to cyber attacks. It is recommended that organizations develop means of

Corporate Reporting Case Study Diageo plc

Corporate Reporting Case Study Diageo plc 1. Information about the company Diageo, formed in 1997, from the merger of Guinness PLC and Grand Metropolitan PLC, is a multinational company, trading in over 180 markets across the world, listed on both the London Stock Exchange (DGE) and the New York Stock Exchange (DEO). It is the worlds leading premium drinks business. The company containes 24,270 employees worldwide with offices in around 80 countries. Company takes up about 30% global markets, and holds worlds top 20 brands include: Smirnoff, Johnnie Walker, Captain Morgan, Baileys, JB, Josà © Cuervo, Tanqueray, Guinness, Crown Royal, Beaulieu Vineyard and Sterling Vineyards wines, and Bushmills Irish whiskey. Key numbers for fiscal year ending June, 2009: Sales: $15,378.0M One year growth: (4.7%) Net income: $2,849.0M Income growth: (10.6%) Source: Answers (2009) Diageo: Information from answers 2. Competitive Environment 1 ¼Ã¢â‚¬ ° Industry Competition Overview The world drink market is broadly exploited in the mature markets. Among the competitors, the most successful are Pernod Ricard Group, Majestic Wine PLC, Bacardi Company Limited, Brown-Forman Corporation, Fortune Brands, Inc. Diageo PLC holds 30 per cent of the total drink market. 2 ¼Ã¢â‚¬ ° Globalisation and Mergers Acquisitions There is a rapid growth in international trade and increasing globalisation of Liquor industry. The main competitions focus on the emerging market and expanding the global market shares by mergers and acquisitions. Pernod Ricard and Fortune Brands jointly buyout the worlds second largest spirits company Doumic in UK. In order to precedence over its competitors, the company speeds up mergers and acquisitions internationally. 3 ¼Ã¢â‚¬ ° Legislation and Economic Environment The EU will enact legislation to uniform the standards for wine production. Regulation is also rapidly developing in emerging markets, which may compounds some difficulties in taking up the emerging market. Economic crisis had a deep impact on the pattern of alcohol manufacturing competition, which had a varied impact on Diageos brand performance and parts of the brands sales fell significantly. Evaluation of Financial Statements The Corporations financial position is evaluated by ratio analysis, horizontal analysis and vertical analysis, which is measured by using FinSAS, according to the Income Statements and Balance Sheets, compared with another biggest drink manufacture-Majestic Wine PLC. 1. Ratio Analysis The value of the firm is determined by its profitability and growth. In ratio analysis, I compare the ratios of the Diageo PLC for six years and compare the group with another firm in the same industry. The objective of ratio analysis regarding to the firms financial position is to evaluate the effective of the groups policies in operating management, investment management, financial strategy and dividend policy. 1) Overall Profitability Assessment The ROE is a comprehensive indicator of firms performance. The ROE of Diageo shows a significant increase from 2007 to 2009, from 33.94% to 43.78%, much higher than its competitor in UK. On average over long periods, large publicly traded firms in the U.S. generate ROE in the range of 11 to 13 percent. The ROE of Diageo is stable at a relatively high level around 30% to 50%. That indicates the managers are suitable performed in employing the funds invested by the firms shareholders to generate returns. Diageos strategies of focusing on profit improvement, such as acquisitions, restructuring initiatives and targeting at emerging markets, gains positive results. 2) Operating Management Assessment The Gross Profit Ratio and EBIT Margin show the profitability of companys operating activities. The figures above show that the Gross Profit Ratio and EBIT Margin of Diageo are much higher than Majestic Wine plc, indicating a seriously competition in the economic situation. Both ratios of Diageo decreased slightly to 1.59% and 1.28% form 2008 to 2009 due to the impact of economic downturn, especially in Spain and Ireland. However, both ratios maintained at a relatively high level, validating the companys stated intention in its annual report of focusing on profitability. Diageo has grown profits in the mature markets and made great advances in emerging markets by volume, by net sales, and by operating profit. 3) Financial Management Assessment The level of Diageos financial leverage is s slightly higher than Majestics and increased significantly from 2006 to 2009. Financial leverage increases the Groups ROE as long as the cost of the liabilities is less than the return from investing these funds. What we should pay attention to is that while a firms shareholders can potentially benefit from financial leverage, it can also increase their risk. 4) Investment Ratio Assessment The DPS of Diageo increased steadily from 2005 to 2009, which reflects a stable dividend policy. Reported EPS growth increases by 10% in the recession period. The profits come from two restructuring initiatives in the year, which generate  £160 million of cost reductions in all, and from the Exchange rate movements which increase net sales by  £1,095 million. 5) Liquidity Ratio Assessment The above ratios attempt to measure the firms ability to repay its current liabilities, i.e. short-term solvency. The Current Ratio of Diageo is significantly outstanding than Majestics, about 1.35 on average. Diageos inventory situation form 2005 to 2009 was uncomfortable when measured in terms of quick ratio, which is too low (less than 1) for manufactory industry. Diageo paid less attention to improve the inventory management. 6) Financial Strength Assessment A companys financial leverage is also influenced by its debt financing policy. The Diageos Debt Ratio and D/E Ratio are higher than its competitors, and its D/E Ratio increased significantly from 2006 to 2009. From the tables above, we can find out that Diageo relies on debt to some extent. It is optimal for firms to use debt in their capital structure for its low costs. However, too much reliance on debt financing is potentially costly to the firms shareholders. Furthermore, Diageo will face financial distress if it defaults on the interest and principal payments. 2. Horizontal Analysis Sales were increasing significantly from 2005 to 2009, especially in 2009, reflecting the contribution from brands outstanding performance in Asia Pacific and Europe, which offsets the impact by the weakness in North America. The operational progress and foreign exchange benefits stated by annual report also increase its net sales. The increase of Cost of Good Sales is more than Sales increase for the accounting period, which means that it costs more to sell the product than we actually made. The growth of Operating Expense exceeds the growth of Gross Profit by 18.53%.This means that our sales exceeded the expenses, and the company gains the money. Income Tax Expense exception, other items on the income statement are increase, which indicates a decline in profitability of the company. The increase of Net Income results in the change for EPS on LSE and DEO. 3. Vertical Analysis The proportion of COGS increased from 2005 to 2009 by 2.28%, which shows the direct effect on the companys Gross Profit. The decrease of the proportion of Operating Income and the increase of proportion of Interest Expense results in the slightly decline of Net Income. 2) Capital Structure analysis The total long-term liabilities of Diageo PLC take more than half parts of its capital structure both in 2008 and 2009. Its capital structure is far more risky than the Majestic Wine PLC which contains large proportion of equity and current liabilities. Under the risk-based capital structure, low liquidity enhances the Diageos financial risk. On the other hand, the non-current assets, which gain high level of return, take up a large proportion, so the profitability of the company has also been improved. Conclusion Diageos strategy is to generate consistent top line growth while enhancing its operating margins and return on invested capital. The company seeks out selective acquisitions to support brands growth which strengthen its market position in both United Kingdom and abroad. In the future, according to the companys strategy, Diageo looks for the opportunities in emerging markets, such as Brazil, Russia, India and China. Annual report reveals that the Companys credit risk comes from financial instruments and business activities. Diageo minimizes its financial credit risk through the application of risk management policies approved and monitored by the board. Trade and other receivables exposures are managed locally in the operating units where they arise and credit limits are set as deemed appropriate for the customer. There is no concentration of credit risk with respect to trade and other receivables as the group has a large number of customers which are internationally dispersed  [1]  . Although the corporate gains stable profitability, it has several financial management limitations. Its capital structure contains too many long-term debts and inefficient inventory management may add the liquidity risk. SECTION B Corporate GovernanceThe goal of Corporate Governance is to solve the agency problem and create sustainable shareholders wealth. The corporate governance practices of Diageo PLC mainly include: internal control by board of directors and remuneration policy. Key to committees  [2]   1. Audit 2. Executive (comprising senior management) 3. Nomination 4. Remuneration Comes from the figures above and corporate governance report, the board has an appropriate structure and directorship. The size of board is appropriate, in which case, the decision making and internal control are effective and can make sure all the directors are participating in the significant affairs. Good balance between executive and non-executive directors. There are fewer executive directors and more non-executive directors. Putting the outside directors into the committees can prevent manager conspiracy plundering the shareholders profits. The Board Committees are constructed clearly according to their functions, which plays a positive effect to the board: 1) Define the functions of board of directors. 2) The directors can access to company information more easily. 3) In favor of non-executive directors of the companys affairs involvement. The company has experienced experts serving on their board. The executive directors have a plenty of experience in the drink business, supported by a wide range of financial and technical experience of the non-executive directors. 2) Independence The Non-Executive Directors play an important part in corporate accountability and governance through their membership of sub-committees: Audit Committee, Executive Committee, Nomination Committee and Remuneration Committee, which improves the boards independence. The non-executive directors have a particular responsibility for ensuring that the business strategies proposed are fully discussed and critically reviewed. This enables the directors to promote the success of the company for the benefit of its shareholders as a whole,  [3]   2. Remuneration Committee 1) The composition of Remuneration Committee The Remuneration Committee consists of Diageos non-executive directors, all of whom are independent. In that case, the committee members have no financial interests about themselves conflicting with shareholders, which reinforce the committees independence. 2) Responsibilities for the corporate governance The responsibilities of the Committee include  [4]  : Making recommendations to the board on remuneration policy as applied to the executive directors and the executive committee. Setting, reviewing and approving individual remuneration arrangements for the chairman, executive directors and executive committee members including terms and conditions of employment. Determining arrangements in relation to termination of employment of each executive director and other designated senior executives; and Making recommendations to the board concerning the introduction of any new share incentive plans which require approval by shareholders. Types of Main Executive Compensation  [5]  : Base Salary: The Committee takes base salary into the consideration of the value created by individual, performance and the external market data. Annual Bonus: Incentives year on year delivery of short term performance goals. Cash bonuses were earned by other senior managers for achieving relevant performance targets for the financial year. Share Options: Incentives three-year earnings growth above a minimum threshold. Provides focus on increasing Diageos share price over the medium to longer term, however, may increase the manipulating of accounting profits. Performance share awards: Provides focus on delivering superior returns to shareholders. Pension: Provides competitive post-retirement benefits. Long Term Incentive Plan (LTIP): These awards vest three years after grant and are subject to satisfying the appropriate performance criteria over the relevant three year performance period. This policy can prevent manager focusing on manipulating short-term earning. Ownership Structure Diageo Plc is incorporated as a public limited company in England and Wales. It is listed on the London Stock Exchange, as DGE, and on the New York Stock Exchange, as DEO. The Ownership Structure of Diageo PLC is classified into Block-Holders Ownership. Capital Group Companies, Inc. are the only major shareholders, with 123 million ordinary shares (4.01% of the issued ordinary share capital) and no different voting rights. No other major shareholders are listed in Diageos Annual Report. Audit Independence 1. The audit report opinion  [6]   The financial statements give the objective and fair description of the Groups affairs at 30 June 2009 and its profit for the year then ended. The statements have been prepared accordance with IFRS. The statements have been prepared accordance with the requirements of the Companies Act 2006 and Article 4 of the IAS Regulation. 2. Assurance The independent auditor provides a positive assurance. It gives the audit opinions that the financial statements meet the requirement of IFRS, Companies Act and IAS Regulation. The mentioned above can improve the independence of external auditing. 3. Non-audit services  [7]   The group has a policy on the use of the external auditor for non-audit services, which is reviewed annually, most recently in June 2009. These pre-approved non-audit service categories may be summarized as follows: Accounting advice, employee benefit plan audits, and audit. or other attestation services, not otherwise prohibited; due diligence and other support in respect of acquisitions, disposals, training and other business initiatives; and Certain specified tax services, including tax compliance, tax planning and related implementation advice in relation to acquisitions, disposals and other reorganizations. All the non-audit services are under the supervision of audit committee which avoids the interest conflict while audit and non-audit services are provided by external group audit simultaneously. Audit Committee 1. The main features and characteristics Composition: Exclusively Independent Non-Executive Directors. Assurance: Financial reporting is evaluated by the Audit Committee. Background of committee members: The corporate requires at least one committee member is a financial expert. The term of office: The term of office of members should not be too long, generally 3 years. 2. The role in enhancing the credibility of the published information The audit committee takes the following responsibilities: Monitor internal control and risk management throughout the Group. Review the objectivity of the interim and annual financial statements including a review of the significant financial reporting judgments contained in them, before submission to the full board. Monitor the effectiveness of the global audit and risk function. Critically review the groups policies and practices concerning business conduct and ethics. Monitor the companys relationship with the external auditor, including its independence and managements response to any major external audit recommendations. According to the mentioned above, audit committee can monitor the key financial and operational risky areas, review the fairness and effectiveness of internal control system, and oversight of external audit and internal audit on the implementation of the recommendations of internal control through the internal audit functions. 3. The role in enhancing the independence of the external auditor  [8]   In reviewing the independence of the external auditor, the audit committee considered a number of factors. These include: the standing, experience and tenure of the external audit director; the nature and level of services provided by the external auditor; and confirmation from the external auditor. The audit committee established the policy to reinforce the independence of external auditors. The provision of any service must be approved by the audit committee. The fees generated from non-audit services are under the supervision of audit committee. Consulting work cannot be performed for audit clients. Voluntary Disclosures 1. The evaluation of voluntary disclosure  [9]   Environmental disclosure The Companys Environmental Statement provides a detailed description of environmental policy regarding to the improvement in environmental performance, energy and greenhouse gases, Water management, Brands, packaging and innovation, Supply chain, Research and transfer of technology, Hazardous substances, and Emergency response. Social disclosure Diageo PLC makes a real contribution to creating a positive role for alcohol in society, minimizing the harm from misuse and promoting the social benefits of responsible drinking. The companys investing in employee development increases the capability of its workforce, creates value and spreads wealth through the community. The company sets some policies about safety at work, employees health, employees capability and development. Ethical disclosure The liquor has a negative impact on peoples health, and the Diageo not only focuses on the markets expanding but also give a positive guidance to the public. 2. Three main potential impacts The Company contributes to the wider community through their involvement in corporate citizenship, volunteering and charitable activities, which gain positive impact on corporate reputation. One of the most significant impacts of its business on local economies is to provide employment. The occupational health and safety of employees is a high priority, which enhances the motivation and performance of employees.