How to minimise the chance of project failing Essay Example for Free

How to minimise the chance of project failing Essay Introduction Here I am going to explain using examples many different kinds of ways that can be prevented from projects failing. In order for a project manager to detect something wrong happening in a project, they have to always double check it and also see if it works just the way the client wants it to work. Project managers always need some kinds of backup, if a project all of a sudden goes horribly wrong, they need some kinds of backup which can include extra members of staff or maybe working long hours to achieve their goal. Lack of staff expertise. When hiring new members of staff, a project manager has to always be careful when checking whether they have the right qualifications or not, by giving a new member a small test to see if they are worthy of using different kinds of tools can help to decide whether to hire them or not. Going over the budget If the project goes over the budget and more money is being wasted on different kinds of things such as tools etc, then the project manager will have to work harder over the time that they are paid; they may be then awarded a bonus if the project succeeds. To minimise this there are softwares that can be used such as Microsoft Office Project to keep track on the budget so that it can be easier to avoid going over the budget. Insufficient details from client or Poor or No Requirements If there is simply not enough details from the client, then as a result the project would most likely be unsatisfactory for the client, in order to avoid this it would be very important if the mangers warns the client if any further requirements are needed, otherwise the client will be warned that no changes will be carried out during the process of the project. Not enough proper time to research and plan Before starting any project, planning is extremely important to be taken out so that simply managers will know and have an idea of what to do. If no planning has been taken out then if would be essential to ask the client for a later deadline, if the client refuses then they will need to be warned that errors may occur and the project may arrive late anyway. Using the wrong kind of tools In order to stop confusion from ordering the wrong kind of tools, managers will have to explain clearly to members of staff what exactly is needed, the tools will then have to be researched and studied in order to find out if it has the requirements to create the project they are working on. They can over-run (passed the deadline) In order to minimise project from passing their deadline, manager will need to carry out plans before the project even starts. Managers will also need to hire extra members of staff if there is enough money in order to complete the project early. Members of staff could also learn how to fully use the potential of product such as software to help the project by being less time-consuming. Poor communication Project mangers will always have to make sure that member of staff are properly communicating with each other, there are many methods that can be used for communication, and these can include email, word of mouth, and mobile phone and maybe even by post. Members of staff will need to speak to each other once in a while in order to understand and learn what is going on in the project in order to prevent any errors from occurring. Lack of User Involvement Staff should be informed that if they are not truly involved with the project then they will automatically be given a warning or maybe even fired from their job because they are simply not working up to the standard as they should be working. What is also very important is the managers should be doing walk around which involves checking whether members of staff are working properly and doing things correctly and is truly involved in the project. Changes in the requirements As you know clients may all of a sudden change the details in the requirements of the product. In any of these cases a project manager has to decline those extra details because it can lead to missing out deadlines which can result in a loss of money and also time. A manager will have to warn their client that there cannot be any changes during the operation of the project, clients should also be advised to carefully give the requirements specification for their product that they are expecting to come out of a project. Long or Unrealistic Time periods A manager will also have to make sure and to double check to see if the time given to the project is realistic and achievable, otherwise the project will be known to fail and could have an impact on the organisation because they may need it desperately. Projects should normally take months to create or even years, if a big project was given and the deadline was only for a short time period, managers have to then immediately decline the project or warn the client that they will need more time. Scope Creep In order to minimise this, project managers will have to check and double check the project to see if it is working fully and if there isnt any problems that may be growing or might happen. For example if an error is found during the production of a product and not treated, could result in the product not working completely and permanently and therefore the project may need to be restarted, so to prevent this if an error is found that the mangers should straight away stop the product or pause it and treat the error as soon as possible. Poor Testing Normally testing is not done properly simply because either the client or manager is probably does not have the time to do it, another reason as to why testing may not be carried out because project managers may be too confident and therefore assume that everything will go well. Testing may also be poorly done because there of Insufficient details from the client or Poor or No Requirements, in order to avoid or minimise or prevent this, project managers should train users that do not know the purpose of the system, always give plenty of time to plan and ask the client for better requirements. Bad decisions being made Every single little decision that is made by the manager has to be carefully planned out and thought out, a manager will also have to consider the consequences and also plan for back-ups just in case the idea or plan back-fires.

Reflection on Learning Skills Development

Reflection on Learning Skills Development Learning Preferences Learning is a life long process and can be had in various shapes and forms. It can be based on education, experience, formal training etc. Every individual has his preferred way of learning which can change during the course of his lifetime. Eg. Individuals can prefer class-room learning when they are young and formal training when they grow old. Usually learning based on experience is considered one of the best ways to learn, but George Bernard Shaw (cited in Moyer, 2007) believes that experience doesn’t guarantee learning. He points out that men are wise in proportion, not to their experience, but to their capacity for experience and one needs to pay attention to find the lessons. Formal training is another way to learn and has been greatly successful within organizations over the years. But, Peter Drucker in his article â€Å"Managing Oneself† (HBR March–April 1999; pg 148) doubts the effectives of formal training by stating that training can be an impediment to learning because it is based on the assumption that there is only one right way to learn. Education and class-room based learning have traditionally been a preferred mode of learning. Rapid rise in technology and its applications has meant ready and continuous access to training and business communications which has meant that learning can now be more timely, specific and synchronous (Sullivan, 2003). Today’s generation want to be connected to instant messaging and short, highly-focused training that can be quickly downloaded and accessed via mobile phones, PDAs, or MP3 players(Ware, 2007; pg 58). Every learning technique has its advantages and limitations and the most preferred learning technique depends on variables like age, life-style, receptiveness and responsiveness of the brain, patience etc. Preferred Team Roles Teams have become a key component in organizations; properly working teams are now central to the organizations health. (Fisher at el., 1998) Because of the growing emphasis on team-working, a lot of research has gone into the structure, dynamics and the operations of the team. This has led to segregating team member by their functionality and the roles and responsibilities they entail as a part of the team. Belbin (1981) identified eight different roles within the team with each member complementing the others strengths and compensating for the weaknesses. Belbin classified and named his team roles as: The plant – Is a problem solver and has innovative, creative and unorthodox way of dealing with situations. Has a strong ownership of ideas. The resource investigator – Is the networking member the team that explores opportunities through new and pre-existing contacts. Is an extrovert, enthusiastic individual having good communication skills. The coordinator – Coordinates different activities of the team and acts as a chairperson. Is responsible for most of the decision making and is normally more experienced than other members. The Shaper – Overcomes obstacles with his drive and courage. Thrives on pressure. Monitor-Evaluator – Has good judgment and the ability to look at the bigger picture. Has more strategic focus. TeamWorker – Responsible for avoiding conflicts and making sure the team gels together and coordinates well. Implementer – Responsible for turning ideas into actions. Completer – Is a perfectionist responsible for finishing the project on time. (Belbin, 1993) Attitudes to Decisions making No matter what sector or industry people work in, they have to make decisions. Decision making involves risk because, most often than not, the outcome cannot be guaranteed. By definition, a decision involves choice and therein lie the difficulty- making the right choice. (McGuire, 2002) The degree of risk involved is greater if the decision is made at the strategic level as compared to the tactical and operational level. Normal attitudes to decision making include: Indecisiveness – People try to evade decision making because it involves risk. Faced with choices and being unclear about which one to make leads to indecisiveness and inaction. Over Analysis – Another attitude to decision making can be over-analyzing options to make sure the correct decision is made. Langdon (2001) calls it ‘paralysis by analysis’ syndrome which means inaction caused by too much thinking. Decisions made on past experiences (historical evidence)– Decisions, at times, are also made by on past experiences without considering the current situation. Eg. If faced with a similar problem as in the past, there is likelihood that the decision similar to the one made in the past will be made. Other attitudes to decision making include decisions made in haste and decisions made without proper consultation with others. Leadership and management skills Leadership is the ability to obtain results from others through personal direction and influence and requires management of self and management of others. Leadership and management differ in the way that management is concerned with ensuring things remain as they are and is often done by standard practice and regulation; leadership involves possessing vision, and the ability to communicate that vision. Leaders should possess the following skills Problem Solving – Problem solving involves identification and definition of the problem, generation of a number of solutions that could be accepted, evaluation of alternatives and their outcomes. An important attribute within problem solving is, communication, in particular, listening skills, as various opinions and possible solutions are being generated. The leader has to see the big picture and choose the best possible solution (decision-making). Decision making – Decision making goes hand in hand with problem solving (as cited in the last paragraph). Every aspect of leadership requires decision making. Delegation, for example, requires the manager to decide which individual is suited for specific tasks and how to distribute work in an optimal and best possible way. Communication – It is very important that the leader has regular and open communication with both the customer and the team members. Change-management – Managing change is also vital to effective leadership because changes might be requested by the stakeholders, caused by unexpected events. Therefore, it is important that the leader has the skills to manage and control change and make sure that the impact of change on accomplishing objectives is kept to a minimum. Management skills Independent of the leadership ability, managers has been studied to have different styles. The style chosen by a manager depends on the assumptions that they make about subordinates, what they think they want and what they consider their attitude towards work to be. Managers have to provide direction to the team, the drive and motivation to work as a part of the team, represent the purpose of team working and working as a group. All the components mentioned below are essential traits of a leader. There has been a widespread acceptance that leadership is an essential management component but it has proved to be difficult to identify the elements of effective leadership and how effective leadership relates to good management practices. (James Walke, 2004) It is worth pointing out that there is no one best style of leadership that is equally effective for all circumstances. The best leadership style is the one that fulfills the need of the group the most, while at the same time satisfy the needs of the external stakeholders. Personal Development plan Areas of development Author’s weaknesses lie in the following areas: Delegation skills – The author is not very good at delegating tasks and has an inherent weakness to doubt others capabilities. He is more comfortable when most of the crucial responsibilities and decision making rests in his own hands and where he just tells the team what to do. Communication – Communication in one of the author’s other weaknesses. This takes off from his delegation style, because he believes in centralized decision making and the need to communicate with subordinates or other team members is seldom realized. Negotiation – The author also finds himself lacking in negotiation skills at times. He is good at understanding and knowing the background to the problem but it’s the bargaining phase of negotiation that the author is not very good at (especially in project management environment). Strengths (Key Skills) Author’s strengths lie in: Organization and Planning – The author excels at organization and planning and makes good use of planning tools. He takes time out to decide on the critical activities and the slack and apportion responsibilities accordingly. He has a clear understanding of the tasks ahead and prioritizes tasks according to their order of importance. Motivation – The author is a highly motivated individual who could turn on creative juices, fight against odds and walk the extra mile to reach set goal and attain objectives. Change Management – Embracing change is another one of the author’s positive traits. He has always identified the need to change and how change can be effectively implemented with least resistance. Background Preferred team role The author’s preferred team role based on his capabilities is that of the ‘plant’ (going by Belbin’s classifications). Armed with strong theoretical basics and practical training, he has a strong ownership of ideas. The author also possesses an unorthodox way (out of the box thinking) of dealing things and is always looking for new and better ways to tackle issues and solve problems. He is skeptical to an all-logical approach to problem solving and does not always adhere to norms and proven ways of doing things. Author’s weakness lies in his ability to work under pressure and to consequently avoid situations that may entail pressure. Decision making style The author does make decisions after a proper analysis of the situation and how the decision affects individuals and the organization. His decision making style involves a process of elimination where a final decision is taken after eliminating alternatives. The author’s weaknesses lie in giving minimal consideration to external factors. What is required for decision making is the use of appropriate decision making tools. SWOT (Strengths, Weaknesses, Opportunities and Threats) is one such tool which helps to assess the internal and external decision making environment. Edward de Bono’s ‘six thinking hats’ is another tool for making team decisions. Before making a decision, the author has to make sure that the impact on external stakeholders is also considered. One of the other weaknesses of the author is the tendency to rush with decisions (haste). To overcome this, the author has to make sure that the issue is defined properly, all the information and alte rnatives are carefully considered and all the options weighed and evaluated before the decision is made. Preferred learning style The author’s preferred mode of learning is through hands-on training after having a firm theoretical knowledge of the basic concepts. A good way to learn for the author would be to start with a theoretical learning exercise through a tutor based class-room course and then having to execute the learning with hands-on training under some supervision. This would be an ideal scenario as it blends theory and practice. It might take some extra time to carry out the training, but at the end of it, the author would have added sufficient skills and is likely to be more efficient while working. This will also make sure sufficient time is allocated to train individuals; training is not rushed with and does not cover just one aspect (theoretical or practical). Goals The author sets goals based on his strengths. He makes sure that the goal is specific. A specific goal like improving profitability by 3% in the next financial year gives direction to the efforts. Also the author makes sure that the set goals can be measured (in relative or absolute terms) and are attainable. If goals are far too optimistic (unrealistic) and beyond reach, then it tend to have an adverse effect on motivation. The author only sets goals which he believes can be accomplished. It is made sure that the goal is attained within a specific time frame. Goal setting is a variable process for the author where the goal can be varied depending on external and unforeseen circumstances. Goals are set based on authors past performances and it is made sure that the goals are neither too easy nor too difficult to attain. Planning A plan is devised by the author to attain goals. Firstly, the author lists key skills required to attain the goal along with other requirements and constraints. Then a structure is given to the planning process to bring all aspects of planning together into a coherent, unified process. The planning structure includes analysis of opportunities, identification of aims, exploring of options, selection of the best option, evaluation of the plan followed by implementation and closure of the plan. Opportunities Setting up a goals and giving direction to the career to achieve that goals opens up several opportunities. The first opportunity is to realize the shortcomings and working on improving them. When we list our goals, we build our self-image and we see ourselves worthy of these goals which acts as a motivating agent. (Hosking Bass, 2001) As a result, we try our best to develop the traits and personality that allows us to possess those goals. Improving on weaknesses and learning through experience are the two best opportunities to be gained from the self development process. Progress The author makes use of indicators like Gantt Charts (See Appendix 1) and Network diagrams (See Appendix 2) to track progress. Gantt charts help in setting a time frame that allows carrying out all the necessary steps. The author makes sure that the critical activities are paid sufficient attention and sufficient time is allocated as ‘slack’. Authors skill set also includes soft skills such as impulse to lead and attain objectives, anticipatory skills to adjust the goals according to the changing environment and empowerment skills. Successful plans make optimal use of skills, experience and specialist knowledge. References Belbin, R.M (1981) Management Teams –Why they succeed or fail, London, Butterworth-Heinemann Belbin, R.M (1993) Team roles at Work, Oxford, Butterworth-Heinemann Drucker, P (1999) People and Performance: Managing Oneself ,Harvard Business School Press Books, p1, pg 148 Fisher et al., (1998) The distribution of Belbin team roles among UK managers, Personnel review, volume 29, 2, pg 1-14 Janice, W (2007) TRAINING Tomorrows WORKFORCE., Rosemary; Kerschenbaum, Steve. T+D, Vol. 61 Issue 4, p58-60, Hall, B (2007) Five Ways to Use Social Networking for Learning.,. Chief Learning Officer, Vol. 6 Issue 5, p17-17 Hosking, D. M., Bass, A. (2001). Constructing changes in relational processes:Introducing a social constructionist approach to change work. Career Development International, 6/7, 348-360. McGuire, R (2002) Decision Making, The Pharmaceutical Journal, Vol 269, pg 647-649 Moyer, D. (2007) The Stages of Learning,. Harvard Business Review, Vol. 85 Issue 5, p148-148 Mumford, A (2002) Horses for Courses, Learning Centre, Accessed from http://peoplemanagement.co.uk Date accessed 21/05/2007 Sullivan, A. K., Strang, H. R. (2002-2003). Bibliotherapy in the classroom: Using literature to promote the development of emotional intelligence. Childhood Education,79, 74-80.

Analysis of Financial Annual Reports

Analysis of Financial Annual Reports The Home Depot and Lowe’s Companies are major American home improvement retailers, keen rivals with Home Improvement leading both in sales and in profits. This assignment aims to analyse their operational and financial results in detail for a period of five years, namely 2002 to 2006 on the basis of the following Annual Reports filed by the companies with the Securities Exchange Commission (SEC) Company Year Ending Year Ending Year Ending Year Ending Year Ending Home Depot January 28, 2007 January 29, 2006 January 30, 2005 February 1, 2004 February 2, 2003 Lowe’s February 2, 2007 February 3, 2006 January 28, 2005 January 30, 2004 January 31, 2003 The working details and financial calculations used for the analysis are available in the appendices at the end of the assignment. Whilst the two companies operate in the same market and are keen rivals, with Lowe’s’ being the nearest competitor to The Home Depot, the actual distance between these two is prima facie substantial with The Home Depot being practically two times the size of Lowe’s, both in sales and in profits. The analysis of the financial statements of the two companies for the five years 2002 to 2006 covers issues like the percentage increase in sales and profits during this period, as well as the analysis of a number of ratios that indicate (a) year on year increase of turnover and profits, (b) profitability, (c) use of long term assets, capital employed and working capital, and (d) capital gearing. An analysis and comparison of various financial and operational ratios over a period of a number of years helps in validating the authenticity of presented figures by enabling analysts to compare related figures, for example year on year increases in sales and profits, and the relationships between sales and profits, sales and capital employed, and current assets and current liabilities, and locate and investigate anomalies that arise from year to year. â€Å"While it is useful to understand the absolute quantum of each asset, liability and revenue item in isolation, far greater understanding of its implication with respect to the trend and performance of the company can be achieved by a `relationship study. For instance, if one studies profits in relation to sales for the current year and compares it with the same relationship for a series of years, a greater understanding of the trend and performance can be had. The `relationship study referred has two facets: i) the relationship of one item to another for the current or previous years, but in respect of the same company, and ii) the relationship of these parameters with industry figures or representative figures of competitors or of firms of similar size and operations. The first set enables one to understand the performance of the company in isolation, while the second gives an insight as to where the company stands vis-à  -vis the industry or competition.†Ã‚   (Osteryoung Others, 1992, p72) The following inferences can be drawn on the basis of information culled from the audited financial accounts and filed with the SEC. Whilst The Home Depot has been growing at a steady pace of around 10 to 11 % during the specified five year period, Lowe’s, which recorded a much higher pace of growth (of around 18 %) during the first four years found its year on year increase slowing to 8 % in the fifth (last) year. Both companies have comfortable Gross and Operating profit margins. Whilst GP margins have consistently been in the region of 30 %, Operating profit margins have remained at around 10 to 11 percent. Although both companies maintained their profitability margins during the five years, the profit before tax for The Home Depot was eroded significantly in 2006 because of substantial increase in finance charges, consequent to significant increase in debt. This increase in debt has increased the capital gearing ratio of the company from a low 0.08 to a more comfortable 0.30. An analysis of various operational ratios for both the companies over the five year period, by and large, indicates substantial s tability in their operations. Practically all ratios, ( and that too for both the companies), be they return on capital employed, asset utilisation, profitability, liquidity, working capital, or capital gearing, are remarkably stable from year to year for all five years, a fact that counters, (even if it does not negate) the possibility of manipulation of figures. The single large scale departure from the norm occurs in the case of capital gearing ratios for The Home Depot but that is explained by the increase in debt from 2672 million USD for the company in 2006 to 11643 million USD in 2007, a fact that also explains the change in interest cover and profit before tax for 2007. A detailed ratio analysis of the figures made available in the financial statements filed by the two companies with the SEC would thus tend to indicate (a) that both companies are progressing well, both in sales and in operational results, and (b) that the figures presented can be taken to be fair and representative of the working of the companies. Gauging the fairness and reliability of information available in the financial statements is however a far more complex exercise, the validity of the presented figures also depending upon other factors like (a) the value of plant, property and equipment, which may be depreciated on historical cost and thus be recorded at values much below current market rates, (b) securities reported at lower of cost or market, which usually means a recorded value below the current market rate, (c) recording of inventories at LIFO, whereas replacement costs are usually higher, (d) recording of debts or leases at favourable rates, (which amount to unrecorded assets because the company’s effective liability becomes lower than normal), (e) uncollected receivables bearing little or no interest, (e) obsolete or slow moving inventories, (f) under or overstatement of contingent liabilities such as threatened or imminent lawsuits, employee settlements like dismissal recompense, service and incentive c ontracts, obligations for goods returns and discounts, merchandise warranties, and guarantees of third-party borrowing. (Radebaugh Others, 2006) An analysis of the accounting policies and procedures of Lowe’s reveals that the company (a) operates a reserve for losses on obsolete inventory, inventory shrinkage, and sales returns, which is adjusted and charged to earnings every year, (b) records receivables that may change depending upon the performance of the company’s products, (c) does not have off balance sheet financing, apart from executing operating leases (d) monitors risks that could arise out of change in interest in long term debt, (e) has entered into an arrangement with GE in 2004 for sale of existing accounts receivables and those that would arise subsequently (f) has entered into an agreement with GG whereby GE funds the company’s proprietary credit card purchases (g) values assets at cost and depreciates them over their useful lives (h) undertakes self insurance for certain liabilities relating to workmen’s compensation, automobile, property and general and product liability claims. ( Annual Reports of Lowe’s Companies, 2003 to 2007) Whilst The Home Depot also by and large follows similar principles, the company (a) offers credit purchase programmes through third party credit providers, (b) depends substantially for sales achievement on offering extensive credit to customers (c) continually patents its intellectual property, (d) is involved in a large number of legal proceedings that could lead to payment of substantial amounts of money, (e) values inventories at lower of cost or market, a practice that could lead to off balance sheet assets (f) uses a number of estimates for reporting assets, liabilities, contingent liabilities, revenues and expenses, (g) has reasonably high receivables, which it needs to collect and whose accuracy is largely a matter of surmise (h) records assets at cost and depreciates them over their estimated useful lives (i) checks goodwill every year for impairment purposes (j) committed errors in stock option practices that led to an erosion of retained earnings to the tune of 227 million in 2006 (Annual Reports of The Home Depot, 2003 to 2007) Off balance sheet assets for both of these companies could arise from undervalued plant, property, and equipment, as well as inventories that may be worth more than their recorded value. On the other hand both companies do not have systems strong enough for effective recording of obsolescence, a fact that could lead to certain slow moving inventory items being shown at values higher than what could be realised in the market. With the companies having receivables that could change on the basis of the post sales performance of products, adverse changes in this area could lead to negative effect upon earnings. However it also needs to be considered at this stage that The Home Depot and Lowe’s have large operations and changes arising from behaviour of off balance sheet items could well be negligible in comparison to actual recorded figures. In value terms much of the difference in the evaluation of balance sheet items could arise from value of plant, property and equipment. With both retailers having extensive prime quality real estate by way of shop space in well frequented locations, the actual value of property may be far in excess of that stated in the financial statements. Whilst an actual quantification of value would have to be preceded by an elaborate exercise, it would be fair to surmise that such a valuation would lead to a substantial enhancement in the market values of both firms. Both companies recognise revenues when customers take possession of goods, whilst goods that have been paid for but not delivered to customers are shown as deferred revenue. This method is open to criticism because it does not sufficiently provide either for return of goods taken by customers or the possibility of customers not picking up goods for which they have made advance payments. Whilst large sales volume turnovers effectively mask the impact of such basic anomalies in accounting procedures, the adoption of conservative accounting practices for revenue recognition, where sales are confirmed only after customers accept goods as purchased could impact sales volumes significantly. Such a practice would obviously have a strong impact on ratios that concern sales, operations, and profitability. Whilst an analysis of ratios over a five year period for both companies does indicate long term stability of accounting practices, the accounting practices followed by The Home Depot indicate an excessive preponderance to use estimates and approximations for arriving at revenue figures. Although such practices could be based on past practice as well as eminently reasonable assumptions, the fact that serious errors have occurred in the past, especially in the practice and disclosure of stock options, indicate that the company should implement much stronger systems and adopt more conservative accounting policies. Another issue of concern with The Home Depot is the substantial amount of litigation in which it is currently involved. With the company admitting the possibility of the results of these lawsuits going against the company, the chances of substantial future outflows with adverse effects upon the company’s earnings does exist. As such, whilst The Home Depot is a far larger company, both by way of sales and by way of profits, than Lowe’s, an impartial evaluation of accounting policies and procedures indicates Lowe’s to be more carefully run. Whilst the current depression in the housing market is keeping investors away from home improvement companies, Lowe’s could well prove to be better equipped to riding out the current crisis and therefore a safer investment. Appendices All figures in Million US Dollars (unless otherwise stated) 1. Appendix A Balance Sheet of the Home Depot Description 2007 2006 2005 2004 2003 Long Term Assets 34263 29136 24747 21111 18094 Current Assets Inventories 12822 11401 10076 9076 8388 Accounts Receivables 3223 2396 1494 1097 1072 Others 1955 1472 2703 3155 2507 Total Current Assets 18000 15269 14273 13328 11917 Total Assets 52263 44405 39020 34437 30011 Current Liabilities Accounts Payables 7356 6032 5766 5159 4560 Others 5575 6674 4689 4395 3475 Total 12931 12706 10455 9554 8035 Debt 11643 2672 2148 856 1321 Others 2659 2118 2259 1620 853 Equity 25030 26909 24158 22407 19802 Total Liabilities 52263 44405 39020 34437 30011 2. Appendix B Profit and Loss Account of the Home Depot Description 2007 2006 2005 2004 2003 Net Sales 90387 81511 73094 64816 58247 Percentage Change 10.89 11.51 12.77 11.28 Cost of Sales 61054 54191 48664 44236 40139 Gross Profit 29783 27320 24430 20580 18108 Operating Expenses 20110 17957 16504 13734 12278 Operating Profits (before Interest and Tax) 9673 9363 7926 6846 5830 Finance Charges 365 81 14 3 (42) Profit before Tax 9308 9282 7912 6843 5872 Percentage Change 17 16 17 Tax 3547 3444 2911 2539 2208 Profits after Tax 5761 5838 5001 4304 3664 Basis Earnings per share 2.80 2.73 2.27 1.88 1.56 3. Appendix C Ratio Analysis of Home Depot Financial and Operational Results A. Profitability Ratios 1. Return on Capital Employed = Operating Profits (before Interest and Tax)/ Capital Employed Details 2007 2006 2005 2004 2003 Capital Employed is equal to Total Assets less Current Liabilities 39332 31699 28575 24483 22076 Operating Profits (before Interest and Tax) 9673 9363 7926 6846 5830 Return on Capital Employed (%) 24.59 29.53 27.73 27.96 26.41 2. Asset Turnover Ratio = Sales/ Capital Employed Details 2007 2006 2005 2004 2003 Capital Employed is equal to Total assets less Current Liabilities 39332 31699 28575 24483 22076 Sales 90387 81511 73094 64816 58247 Asset Turnover Ratio 2.29 2.57 2.56 2.65 2.64 3. Gross Profit Margin = Gross Profit/ Sales * 100 Details 2007 2006 2005 2004 2003 Gross Profit 29783 27320 24430 20580 18108 Sales 90387 81511 73094 64816 58247 Gross Profit Margin (%) 32.95 33.57 33.42 31.75 31.09 4. Operating Profit Margin = Operating Profit (Profit before Interest and Tax) / Sales * 100 Details 2007 2006 2005 2004 2003 Operating Profits (before Interest and Tax) 9673 9363 7926 6846 5830 Sales 90387 81511 73094 64816 58247 Operating Profit Margin (%) 10.70 11.44 10.84 10.56 10.01 B. Asset Turnover Ratios 5. Long Term Assets Turnover = Sales/ Long Term Assets Details 2007 2006 2005 2004 2003 Long Term Assets 34263 29136 24747 21111 18094 Sales 90387 81511 73094 64816 58247 Long Term Assets Turnover 2.63 2.80 2.95 3.07 3.22 C. Liquidity Ratios 6. Current Ratio = Current Assets / Current Liabilities Details 2007 2006 2005 2004 2003 Current Assets 18000 15269 14273 13328 11917 Current Liabilities 12931 12706 10455 9554 8035 Current Ratio 1.39 1.20 1.37 1.40 1.48 7. Accounts Payable Cover = Current Assets / Accounts Payables Details 2007 2006 2005 2004 2003 Current Assets 18000 15269 14273 13328 11917 Accounts Payables 7356 6032 5766 5159 4560 Accounts Payable Cover 2.45 2.53 2.48 2.58 2.61 D. Capital Structure, Gearing and Risk Ratios 8. Gearing Ratio = Long Term Debt/ Capital Employed Details 2007 2006 2005 2004 2003 Long Term Debt 11643 2672 2148 856 1321 Capital Employed = Total Assets less Current Liabilities 39332 31699 28575 24483 22076 Gearing Ratio 0.30 0.08 0.08 0.04 0.06 9. Shareholder’s Ratio = Shareholder’s Funds/ Capital Employed Details 2007 2006 2005 2004 2003 Shareholders Funds 25030 26909 24158 22407 19802 Capital Employed 39332 31699 28575 24483 22076 Shareholder’s Ratio 0.64 0.85 0.85 0.92 0.90 10. Interest Cover = Profit before Interest and Tax/ Interest Details 2007 2006 2005 2004 2003 Operating Profits (before Interest and Tax) 9673 9363 7926 6846 5830 Finance Charges 365 81 14 3 (42) Interest Cover 26.5 115 566 2282 NA 4. Appendix D Balance Sheet of Lowe’s Companies All figures in Million US Dollars (unless otherwise stated) Description 2007 2006 2005 2004 2003 Long Term Assets 19447 16851 14235 12229 10541 Current Assets Inventories 7144 6635 5850 4584 3968 Accounts Receivables (Included in Others) Others 1170 1153 1016 1938 1600 Total Current Assets 8314 7788 6866 6522 5568 Total Assets 27761 24639 21101

Essay --

In a study conducted by Seoul National University in 1994, 92 percent of South Koreans considered unification absolutely â€Å"essential.† By 2007, that opinion fell to 64 percent. Today, support for unification is barely above 50 percent, with support lowest among the young: a 2010 survey revealed that only 49 percent of young adults judged unification as necessary. Among teens, the figure dropped even lower to 20 percent. This declared openly but it is felt by all long-time dwellers of Seoul and with good reason too: the financial cost of reunification would be astronomical. It would cost South Korean taxpayers seven percent of the country’s GDP for every year for the 10 years after reunifying. A joint estimate by the country’s Finance Ministry and universities put the cost of unification — if it were to occur by 2020 — around $2.8 trillion. The cost is expected to only increase with time as consumer prices climb and socioeconomic disparities widen. For the first few years, a majority of the costs will go into consolidating the North’s basic administrative, judicial and social services ... Essay -- In a study conducted by Seoul National University in 1994, 92 percent of South Koreans considered unification absolutely â€Å"essential.† By 2007, that opinion fell to 64 percent. Today, support for unification is barely above 50 percent, with support lowest among the young: a 2010 survey revealed that only 49 percent of young adults judged unification as necessary. Among teens, the figure dropped even lower to 20 percent. This declared openly but it is felt by all long-time dwellers of Seoul and with good reason too: the financial cost of reunification would be astronomical. It would cost South Korean taxpayers seven percent of the country’s GDP for every year for the 10 years after reunifying. A joint estimate by the country’s Finance Ministry and universities put the cost of unification — if it were to occur by 2020 — around $2.8 trillion. The cost is expected to only increase with time as consumer prices climb and socioeconomic disparities widen. For the first few years, a majority of the costs will go into consolidating the North’s basic administrative, judicial and social services ...

Media Essay - Advertisements for Body Enhancement Supplements

Advertisements for Body Enhancement Supplements There is evidence that shows that at least one scientist reported 100 years ago that testosterone is the cause of masculine features in males. But 100 years ago this was yet to be proven. That is approximately how long the idea of a product which aids in the enhancement of mass and strength for people was around. However, when the actual development of the product came around, the advertisements designed to aid in the sales and production of the product left a lot to be desired compared to what is available. Today, that is only to be expected due to the fact that we live in a more advanced civilization. Over time, the physical description of what was depicted to be the ideal muscular physique has changed as eras passed. The reasoning for this change in muscle physique dates back to the development of the product which technically started it all, Steroids. The actual development of anabolic steroids took place during the 1930's which was during the decline of the United States industrial society courtesy of the Great Depression. Researchers developing steroids used dogs to test out their theories. Through their test, they discovered that the usage of anabolic steroids increased muscle mass in the dogs, causing a leaner, more muscular looking physique. In the 40's, the anabolic steroids were given to POW's and those that were suffering from malnutrition. In the 50's, anabolic steroids were given a new purpose that was strictly for strength gains. Athletes in Europe and Russia were using steroids just for that purpose. Ster... ...that deemed steroids to be lethal took place in the late 1970's and early 1980s during Olympic games. In the "Golden Era", the side effects were unaware of and steroids seemed to be safe so no restraints were brought upon for its usage and distribution. Even with the knowledge of possessing side effects, there is a select few of who still purchase and use Steroids over the black market. In most cases, the method which fascinated those back then for instant muscle is still use today, but on different products. "Hard Bodies", "Ripped Pecs", "Six- Packs", are all part of the "Total Package" method use for people to buy body and muscle enhancing products. Works Cited Associate Press "Mind & Muscle POWER" General Media Communications Inc September 1999 Phillips "The Steroid World" www.http://www.steroidworld.com/ (C) 1999-2000

National Culture Essay

National culture is the value system and pride associated with a nation. Many people deny their national culture when they move to a new location, and embrace the national culture of their new home. Characteristics of culture As one might expect, all cultures must share several characteristics if ‘’culture’’ is to be differentiated from other forms of behavior. These similarities between all cultures are surprisingly few. The ultimate goal of cultural anthropology is to determine which characteristics all cultures share in common. Society Firstly, all culture must take place through a medium of a group of people, known as a society. Even extinct or imagined cultures have societies to transmit the culture. As culture cannot exist without culture. Other animals, such as bees or ants, congregate into societies, yet these animals do not exhibit it culture. Yet no human society is without culture. The functionalist school of anthropological thought attempts to explain why culture is so vital to human societies. Culture of Bangladesh The culture of Bangladesh has a unique history, dating back more than 2500 years ago.The land, the rivers and the lives of the common people formed a rich heritage with marked differences from neighboring region. The culture of Bangladesh is composite, and over centuries has assimilated influences of Hinduism, Jainism, Buddhism and Islam. It is manifested in various forms, including music, dance and drama, art and craft; folklores and folktales; languages and literature, philosophy and religion. Music, dance and drama Music and dance style of Bangladesh may be divided into three categories, namely, the classical, folk and the modern. The classical style has been influenced by other prevalent classical forms of music and dance of the Indian subcontinent and accordingly shows some influences dance forms like bharata natyam and kuchipudi.The folk and tribal music and dance of Bangladesh are of indigenous origin and rooted to the soil of Bangladesh. Several dancing style in the north-eastern part of the Indian subcontinent,  like Manipuri and santal dances, are also practiced in Bangladesh, but Bangladesh has developed its own distinct dancing style. Bangladesh has a rich tradition folk songs, with lyrics rooted into vibrant tradition and spirituality, mysticism and devotion. Such folk songs also revole round several and other themes, including love themes. Drama remains popular in Bangladesh, including performances of playes bye local playwrights as well as adaptations from writers of western origi n. Jatra, that is folk drama is also a part of culture of Bangladesh . Pohela Boishakh Pohela Baishakh celebration in Dhaka, Bangladesh. Pà ´hela Boishakh is the first day of the Bengali calendar. It is usually celebrated on the 14th of April. Pohela Boishakh marks the start day of the crop season. Usually on Pà ´hela Boishakh, the home is thoroughly scrubbed and cleaned; people bathe early in the morning and dress in fine clothes. They spend much of the day visiting relatives, friends, and neighbours and going to the fair. Fairs are arranged in many parts of the country where various agricultural products, traditional handicrafts, toys, cosmetics, as well as various kinds of food and sweets are sold. The fairs also provide entertainment, with singers, dancers and traditional plays and songs. Horse races, bull races, bullfights, cockfights, flying pigeons, and boat racingwere once popular. All gatherings and fairs consist a wide spread of Bengali food and sweets. The most colourful New Year’s Day festival takes place in Dhaka. Large numbers of people gather early in the morning under the banyan tree at Ramna Park where Chhayanat artists open the day with Rabindranath Tagore’s famous song, Esho, he Boishakh, Esho esho (Come, year, come, come). A similar ceremony welcoming the new year is also held at the Institute of Fine Arts (Dhaka) and University of Dhaka. Students and teachers of the institute take out a colourful procession and parade to round the campus. Social and cultural organisations celebrate the day with cultural programmes. Newspapers bring out special supplements. There are also special programmes on radio and television. Prior to this day, special discounts on clothes, furniture, electronics and various deals and shopping discounts are available. Special line of sarees, usually cotton, white sarees with red print and embroidery is sold before this day as everyone dresses up for this day. Jasmine flowers are also a huge sale for this event  which adorns the women’s hair. Background In 1952, the emerging middle classes of East Bengal underwent an uprising known later as the Bangla Language Movement. Bangladeshis (then East Pakistanis) were initially agitated by a decision by the Central Pakistan Government to establish Urdu, a minority language spoken only by the supposed elite class of West Pakistan, as the sole national language for all of Pakistan. The situation was worsened by an open declaration that â€Å"Urdu and only Urdu will be the national language of Pakistan† by the governor, Khawaja Nazimuddin. Protest Police declared Section 144 which banned any sort of meeting. Defying this, the students of University of Dhaka and Dhaka Medical College and other political activists started a procession on February 21, 1952. Near the current Dhaka Medical College Hospital, police fired on the protesters and numerous people, including Abdus Salam, Rafiq Uddin Ahmed, Sofiur Rahman, Abul Barkat and Abdul Jabbar, died. The movement spread to the whole of East Pakistan and the whole province came to a standstill. Afterwards, the Government of Pakistan relented and gave Bengali equal status as a national language. Effects This movement is thought to have sown the seeds for the independence movement which resulted in the liberation of Bangladesh in 1971. Commemoration To commemorate this movement, Shaheed Minar a solemn and symbolic sculpture, was erected in the place of the massacre. The day is revered in Bangladesh and, to a somewhat lesser extent, in West Bengal as the Martyrs’ Day. This day is the public holiday in Bangladesh. UNESCO decided to observe 21 February as International Mother Language Day. The UNESCO General Conference took a decision to that took effect on 17 November 1999 when it unanimously adopted a draft resolution submitted by Bangladesh and co-sponsored and supported by 28 other countries. In Assam and North-east India In Silchar, India, eleven people were killed by police firing on 19 May 1961 when protesting legislation that mandated the use of the Assamese language.[1] Bengalis in Assam and north-east India observe 19 May as Language Movement Day to remember the 11 Bengalis who were killed on the day by police fire in Silchar Railway Station. Weddings A bride for Turmeric ceremony A traditional wedding is arranged by Ghotoks (matchmakers), who are typically friends or relatives of the couple. The matchmakers facilitate the introduction, and also help agree the amount of any settlement. Bengali weddings are traditionally in five parts: first it is the bride and groom’sMehendi Shondha, the bride’s Gaye Holud, the groom’s Gaye Holud, the Beeya, and the Bou Bhaat. These often take place on separate days. The first event in a wedding is an informal one: the groom presents the bride with a ring marking the â€Å"engagement† which is gaining popularity. For themehendi shondha the bride’s side apply henna to each other as well as the bride for the bride’s Gaye Holud, the groom’s family – except the groom himself – go in procession to the bride’s home. Bride’s friends and family apply turmeric paste to her body as a part of Gaye Hoof bride, and they are traditionally all in matching clothes, m ostly orange in colour. The bride is seated on a dais, and the henna is used to decorate the bride’s hands and feet with elaborate abstract designs. The sweets are then fed to the bride by all involved, piece by piece. The actual wedding ceremony â€Å"Biye† follows the Gaye Holud ceremonies. The wedding ceremony is arranged by the bride’s family. On the day, the younger members of the bride’s family barricade the entrance to the venue, and demand a sort of admission charge from the groom in return for allowing him to enter. The bride and groom are seated separately, and a Kazi (authorized person by the govt. to perform the wedding), accompanied by the parents and a Wakil (witness) from each side formally asks the bride for her consent to the union, and then the groom for his. The bride’s side of the family tries to play some kind of practical joke on the groom such as stealing the groom’s shoe. The reception, also known as Bou-Bhaat (reception), is a party given by the groom’s family in return for the wedding party. It is typically a much more relaxed affair, with only the second-best wedding outfit being worn. Relatives decorating the groom with traditional wedding turmeric in a Bangladeshi Gaye Holud ceremony in Dhaka. Architecture and heritage Bangladesh has appealing architecture from historic treasures to contemporary landmarks. Jatiyo Smriti Soudho, a tribute to liberation war martyrs is also an architectural landmark Sports A cricket match between Bangladesh &India at the Sher-e-Bangla Cricket Stadium inDhaka, Bangladesh Cricket is the most popular sport in Bangladesh, followed by football. Kabaddi is the national sport in Bangladesh. Cricket is a game which has a massive and passionate following in Bangladesh. Bangladesh has joined the elite group of countries eligible to play Test Cricket since 2000. TheBangladesh national cricket team goes by the nickname of the Tigers – after the Royal Bengal Tiger. The people of Bangladesh enjoy watching live sports. Whenever there is a cricket or football match between popular local teams or international teams in any local stadium significant number of spectators gather to watch the match live. The people also celebrate major victories of the national teams with great enthusiasm for the live game. Victory processions are the most common element in such celebrations. A former prime minister even made an appearance after an Internationalone day cricket match in which Bangladesh beat Australia, she came to congratulate the victory. Also in late 2006 and 2007, football legend Zinedine Zidane paid a visit to local teams and various events thanks to the invite of Nobel Peace Prize winner Dr. Muhammad Yunus. Religion Festivals and celebrations are an integral part of the culture of Bangladesh. Prominent and widely celebrated festivals are Pohela Boishakh, Independence day, National Mourning Day, Eid ul-Fitr, Eid ul-Azha, Moharram, Durga puja, and Language Movement Day. Bangladesh is ethnically homogeneous, with Bengalis comprising 98% of the population. The majority of Bangladeshis (about 90%) are Muslim, and a small number of Hindus, Christians and Buddhists are also living in the country. But due to immense cultural diversity, multiple dialects, hybridization of social traits and norms as well as cultural upbringing, Bangladeshis cannot be stereotyped very easily, except for the only fact that they are very resilient in nature. People of different religions perform their religious rituals with festivity in Bangladesh. The Government has declared National  Holidays on all important religious festivals of the four major religions. Durga Puja, Christmas, and Buddha Purnima are celebrated with enthusiasm in Bangladesh. All of these form an integral part of the cultural heritage of Bangladesh. Bangladesh is a land of festivity. Muslims celebrate Eid-ul-Fitr, Eid-ul-Azha, Eid-e-Miladunnabi, Muharram etc. Hindus observe Durga Puja, Kali Puja, and Sarashwati Puja among others. Buddha Purnima is the biggest festival for Bengali Buddhists, and Borodin (Christmas) is celebrated by the Christians. People from several tribal communities also have their respective festival as well. Apart from these religious and tribal celebrations we also have several secular festivals. Pohela Boishakh (Bangali New Year) is the biggest among all the festivals in Bangladesh. We also observe 21 February as Shahid Dibash (as observed worldwide as International Mother Language Day), 26 March as Independence Day, and 16 December as Victory Day. Lifestyle Cuisine Panta Ilish – a traditional platter ofPanta bhat, with fried hilsa slice, supplemented with dried fish (shutki),pickles (achar), dal, chillies, and onion – is a popular dish during the Pohela Boishakh festival. Bangladesh is famous for its distinctive culinary tradition, delicious food, snacks, and savories. Boiled rice constitutes the staple food, and is served with a variety of vegetables, fried as well with curry, thick lentil soups, fish and meat preparations of mutton, beef, and chicken, and very rarely pork only by certain small groups. Sweetmeats of Bangladesh are mostly milk based, and consist of several delights including roshgulla, sandesh, rasamalai, gulap jamun, kalo jamun, and chom-chom. Several other sweet preparations are also available. Bengali cuisine is rich and varied with the use of many specialized spices and flavours. Fish is the dominant source of protein, cultivated in ponds and fished with nets in the fresh-water rivers of the Ganges delta. More than 40 types of mostly freshwater fish are common, including carp, varieties like rui (rohu), katla, magur (catfish), chingÃ…â€"i (prawn or shrimp), as well as shuÃ… £ki (dried sea fish) are popular. Salt water fish (not sea fish though) and Ilish (hilsa ilisha) are very popular among Bengalis, can be  called an icon of Bengali cuisine. Serving dishes with beef is not a rare occurrence in Bangladesh. Beef curry is very common and an essential part of Bengal cuisine. Dress Bangladeshi people have unique dress preferences. Bangladeshi men sometimes wear kurta or fatua on religious and cultural occasions. Bangladeshi men wear lungi as casual wear (in rural areas) and shirt-pant or suits on formal occasions. The lungi is not considered proper to be worn outside the house except by the farmers and the low-income families. Shalwar Kameez and Sharee are the main dresses of Bangladeshi women. The women also have a different preference to which types of Shalwar Kameez and Sharee they would like to wear. Whether it may be silk sharees, georgette sharees, or designer sharees, each particular fabric contributes to representing the culture overall. Weaving the fabric for these dresses is a traditional art in Bangladesh. Conclusion Different culture groups think, feel, and act differently. There are no scientific standards for considering one group as intrinsically superior or inferior to another. Studying differences in culture among groups and societies presuppose a position of cultural relativism. It does not imply normalcy for oneself, or nor for one’s society. It, however, calls for judgment when dealing with groups or societies different from one’s own. Information about the nature of cultural differences between societies, their roots, and their consequences should precede judgment and action. Negotiation is more likely to succeed when the parties concerned understand the reasons for the differences in viewpoints.

Benito Mussolini

Benito Mussolini is well-known Italian dictator. From 1992 to 1943, he ruled over Italy as the leader of the Italian government. His administration adhered to fascism, which was established by Mussolini himself. On the 28th of April 1945, due to uprising and his political defeat, he was captured and executed by a firing squad. Benito Mussolini was born on the 29th of July 1883 in Dovia de Predappio in Italy. His family was not granted with a prosperous life as his father worked as a blacksmith and his mother worked as a grade school teacher.The sinister side of Mussolini materialized even during his younger years. In addition to his inability to perform well academically, he also committed violent acts against his peers. Mussolini was capable of perpetrating menacing and treacherous acts, as he was able to stab one of his schoolmates in his attendance at a boarding school. When he grew up, he was able to get a job as a teacher at a secondary school, after acquiring his college diplom a. In 1904, Mussolini joined attended military services and pursued a career in politics from then on.He united with the Socialist Party. Socialism is a political belief or principle that adheres to equal distribution of property and income between the members of the social system. However, in the advent of World War I, he opposed the Socialist Party and joined the rival nationalist group. Shortly after his crossover, he was able to establish a newspaper, which he called Popolo d’Italia. His political beliefs and ideals served as the backbone of the Popolo d’Italia. His then changed ideologies and principles were learning toward Fascism.Fascism was an established political doctrine where the authority is embodied by a dictator who promoted the primary interest of the nation and enforces tyranny to achieve an end. Mussolini despised communism and socialism. To show opposition for these two parties, he organized a group who promoted the ideas of nationalism. In 1921, the result of the elections put him in Parliament where the National Fascist Party was also organized. Mussolini was the leader of this party who has gained over a thousand followers.He abused his position to stay in power and altered the political system into a dictatorship style of government. Several members of the opposition party were assassinated and mass media was influenced into broadcasting propaganda in favor of the National Fascist Party. During his days as leaders of the Italian government, he employed the use of power and vigor to force people into doing what was favorable to him. However, during the 1930’s, Italy suffered a great blow in its economy.Because of this, Mussolini aimed to establish and develop the Italian Empire. Mussolini believed that in order to improve the economic status of Italy, he should be able to conquer other countries, especially countries in power, in order to capture dominance over the Mediterranean. To further his accomplishment, he supp orted the Nazi Fascist government of Adolf Hitler, and engaged in oppressing the Jews. Because of his brutal means of ruling the government, Italy was not able to bear his rule and discontinued their support for Mussolini.During the World War II, Mussolini submerged Italy into war despite the opposition of the people. It was fear that drove Mussolini into joining the World War II. In this period of chaos and hostilities, Mussolini was able to conquer the European Sea and African Mediterranean Sea, including France, Greece, and Egypt. In the 1940’s, Mussolini suffered a great loss as he lost his control over the Mediterranean Sea. After this political failure, Mussolini was capture and dubbed as the pawn of Hitler.He was shot in Como province leading him to his grave. References About. Com. (2007). The Columbia Encyclopedia: Mussolini, Benito. Retrieved December 7, 2007, from About. Com. Website: http://history1900s. about. com/gi/dynamic/offsite. htm? site=http%3A%2F%2Fwww. b artleby. com%2F65%2Fmu%2FMussolin. html Notable Biographies. (2007). Benito Mussolini Biography. Retrieved December 7, 2007, from Advameg, Inc. Website: http://www. notablebiographies. com/Mo-Ni/Mussolini-Benito. html Benito Mussolini A fascist leader of Italy form 1922 to 1943, BENITO MUSSOLINI, centralized all of his power as the leader of the powerful fascist party and tried to make an Italian empire in coalition with the German dictator Adolph Hitler. The conquering of the Italian army in WW2 led to the end of his grand dream and the downfall of his empire. He was born in the town of Predappio close to Forli in Romagna in July 29 1883 to a Black smith name Alessandro and a School teacher Rosa. Just like his father, Mussolini became a keen socialist.In 1901 he qualified as an elementary schoolmaster. The next year he migrated to Switzerland. There he was having difficulty in finding a stable job and was later arrested because of vagrancy, he was barred from Switzerland and was returned to his native land of Italy to serve in the Military. Due to some more trouble with the police, he started working in a newspaper in the town of Trento in Austria where he wrote a novel The Cardinal’s Mistress which was la ter translated into English. Socialist AssociationsHe was later barred by the Austrians too. He later became an editor of a socialist newspaper La Lotta di Classe (The Class struggle) in Forli. His early passion for Karl Marx was enhanced by a combination of ideas from the innovative policy of Auguste Blanqui, syndicalism of Georges Sorel and the thinking of Friedrich Nietzche. Benito later became a secretary of a local Socialist party in Forli in the year 1910. At this point of life, he had a political view totally opposite to what was to come later. He was antipatriotic.In 1911 when Turkey was to be attacked by Italy, he was jailed for his propaganda of peace keeping. He was later editor of an official Socialist newspaper by the name of Avanti in Milan where he recognized himself as one of the most powerful labor leaders in the Italian communism. He had a viewpoint that the working class should unite into a formidable unit prepared to seize power at any time. From here on than the Fascist movement started. When the WW1 started in 1914, Benito along with other communists agreed that Italy should not be a part of it.The only war acceptable to him was the Class war, and he threatened the government that he will lead a When World War I broke out in 1914; Mussolini agreed with the other Socialists that Italy should not join it. Only a class war was acceptable to him, and he threatened to be the leader of a People’s revolt against the government if Italy was a part of the WW1. After several months he suddenly changed his viewpoint on the war and decided to leave the editorial chair along with the socialist party. Birth of FascismHe established a new paper in November of 1914 by the name of Popolo D Italia and prewar group Fascia d Azione Rivoluzionaria. He clearly hoped that the WW1 would result in the collapse of the Italian government which would gain him power. He was to serve in the military later where he was injured in a grenade practice and because o f that he returned to his newspaper editing. In March 1919 Fascism developed into a planned political movement when Mussolini established the Fasci de Combattimento. He failed in the 1919 elections but later in 1921 he entered into the Parliament as a right wing member.Armed squads were established by the Fascist to terrify Benito’s former communist co workers. The government rarely hampered the movement. He got support from the industrialists and in return he gave his support to strike breaking and later he deserted radical demonstrations. The moderate governments of Giovanni Giolitti, Luigi Facta and Ivanoe Bonomi failed to prevent the increase of chaos, Benito was asked by king in October of 1922 to establish a government. Fascist Dictatorship He was supported by the Liberals in the parliament.With their support he initiated stringent censorship and changed the way elections were held in 1925-26 so that he had absolute power and could suspend all other political parties to work. As he had control over the press, he slowly made a legend of Duce, a human being capable of making everything right and had the ability to solve all the problems whether they are political or economic. Soon Italy became a police state. Whoever resisted him like Giacomo Matteotti did of the Socialist party he was very much cruel to them. He had a great skill in propaganda that he had very little opposition.After 1922, many time he personally took over seven departments at the same time like foreign affairs, ministry of the corporations, Army and other armed service, public works, interior ministry along with the premiership. He was the leader of the Powerful Fascist party which was established in the 1921 and also was the leader of the Fascist armed Militia. This made him to be successful in keeping power in his own hands and averting the surfacing of any competitor. This all came at a price of making a government which was corrupt, over centralized and totally inefficient.He spent most of his time on propaganda whether he was in Italy or some where else, here his training as a journalist was precious. Each and every mode of information was carefully monitored to create a fantasy that fascism was the main principle of the 20th century and was take the place of equality and freethinking. He wrote an article in which he laid down the principles of this policy which appeared in Encyclopedia Italiana in 1932. An agreement was signed in 1929 with the Vatican, which finally recognized the Italian State. His leadership finished the parliamentary system.He rewrote the law codes. The teacher teaching in universities or schools were swearing on an oath to secure the regime of Fascist. Mussolini himself started choosing editors of the newspapers and no other editor could establish a newspaper without the permission of the Fascist party. Trade unions were not given total independence were included in what was called the corporative system. The main aim was to place all the Italian public in different organization and corporations which were professional but all under the rule of the government.Mussolini had the idea of shifting the industries from public to private owners with the help of his financial backers. But later in 1930 he started moving back to the conflicting intensity of inflexible governmental control of industry. A huge sum of money was spent on different public works due to which the Italian economy suffered a great deal as he had placed so much money on the heavy industry to make Italy self sufficient but this was not possible as Italy was lacking numerous resources. Military AggressionIn his foreign policy Mussolini started shifting from a peace loving anti imperialism to a tremendous outline of violent self rule. In 1923 the bombing of Corfu is an example of his self rule. After setting up a dummy government in Albania and re capturing Libya, he had a dream of making the Mediterranean Sea Italian Sea. Later in 1935 he along w ith others established an anti Hitler policy at the Stresa Conference to protect the freedom of Austria. His successful battle against Ethiopia (than Abyssinia) was opposed by the League of Nations.Because of this he made a deal with the Nazi Germany, which before had been introverted from the league. Any prospect of a settlement between Britain and France ended when took an active part in the 1936-1939 Spanish Civil War and took the side of General Francisco Franco. After having to make a deal with the Germans, he had to accept the German capturing of Austria and Czechoslovakia’s dismemberment. In 1938 at the Munich Conference, he portrayed himself as a fair person functioning for peace in Europe.His allegiance with Germany was later confirmed when in 1939 he made a Pact of Steel with Adolph Hitler. Being an inferior partner to the Germans, Benito followed the same racial policy as did the German’s did against the Jews. When World War 2 was coming nearer, Mussolini ma de his intention clear to conquer Tunisia, Malta and Corsica. He conquered Albania after a short war in 1939. He didn’t realize that by gaining more power he would have a power balance in Europe, instead he favored a policy pretending and threaten to persuade the Western powers to make way for his growing territorial demands.He lectured for 15 years regarding the merits of war and the military keenness of Italy to battle, but his army was totally unprepared when the attack on Poland by Hitler led to the World War 2. He remained quite for a while until n unless he was sure who will win. He declared war in1940 after the collapse of France, thinking that the war will only last for a few weeks. He later attacked Greece which showed everyone that he was not prepared for a successful military machine. He had no alternative left but to pursue Hitler in announcing war on Russia and United States both in 1941.After Italy was defeated all ends, and the landing of Anglo American in Sici ly in 1943 led to many of Benito’s co workers to turn against him at a conference in Fascist Grand hall on July 25, 1943. This also led to the king dismissing him and ordered for his arrest. The Germans rescued him after a couple of months, after being rescued he set up a Republican Fascist state in north of Italy. Under the German’s he was not more than a dummy. Benito later returned to his ideas of collectivization and communism. He executed the Fascist leader who turned against him including his own son in law.He blamed the Italian public for this although they had been supporting all along his colonial dream. When the Allied Armies reached Milan on April 27 in 1945, Benito along with his mistress Clara Petacci were captured by the Italian enthusiasts, when he was trying to flee into Switzerland. Assassination A day later, Benito and his mistress were both shot dead near a village of Dongo, along with his 15 colleagues, comprising of ministers and officials. The kil lings were conducted by Colonel Walter Audisio; he was given the order to kill Benito by the National Liberation Committee.Later a witness by the name of Bruno Giovanni confessed that he had killed Benito and his mistress but these reports were never confirmed. After the killings, both the bodies were hanging upside down on meat hooks in Milan along with the fifteen colleagues killed, to confirm that the once mighty leader has been killed. This was to discourage the fighting by the fascists. The body was to become a thing of mockery and mistreatment by those who felt he was a cruel ruler. His body was later taken down and buried in an unmarked grave in Milan. Later his body was stolen but retrieved and brought to Predappio.Here he was buried in his family vault. A large marble of himself sits on top of the tomb. He was survived by his wife, Rachel, two sons Romano and Vittorio and his daughter Edda, whose husband was killed by Benito. His third son was killed in an air incident. Bib liography †¢ Benito Mussolini from Answers. com. Retrieved March 27, 2007. From http://www. answers. com/topic/benito-mussolini †¢ Benito Mussolini from Wikipedia (2007). Retrieved on March 28, 2007. From http://en. wikipedia. org/wiki/Benito_Mussolini †¢ Benito Mussolini Background. Retrieved on March 28, 2007.From http://library. thinkquest. org/17120/data/bios/mussolini/background/backg1. html †¢ Mussolini, Benito from BartleBy (2005). Retrieved on March 28, 2007. From http://www. bartleby. com/65/mu/Mussolin. html †¢ Benito Mussolini. Retrieved on March 28, 2007. From http://www. info. tampere. fi/a/amuri/tyot/ilduce3. htm †¢ Benito Mussolini from Spartacus Educational. Retrieved on March 28, 2007. From http://www. spartacus. schoolnet. co. uk/2WWmussolini. htm †¢ Benito Mussolini. Retrieved on March 28, 2007. From http://www. moreorless. au. com/killers/mussolini. html Benito Mussolini Mussolini is considered to be the founding Father of Fascism, seizing power by a combination of terror and persuasion. He held Italy firmly in his grasp by crushing his enemies while still promising glory. Mussolini was able to successfully turn Italy into a com/world-history-unit-3/">dictatorship under a fascist regime because of the country’s internally divided war-torn society as well as the weak state of Italy’s minority governments which could not unite to oppose fascism and finally because of his ability to appeal to this country through a false sense of security and nationalism. Benito Amilcare Andrea Mussolini was born in Predappio on July 29, 1883.Son of a socialist blacksmith, he grew up to be a self-proclaimed â€Å"anti-patriot† like his father (The Columbia Encyclopedia 33087). He hadn’t taken to school and rebelled against most things. He had gotten expelled from his first school, which was a catholic school ran my monks, though he did better in his second. He went on to become a qualified school teacher, even though he wasn’t interested in teaching. Benito Mussolini had a passion for politics. In June 1902, Mussolini went to Switzerland and got involved with some Italian socialists and got a job as a brick layer and joined the trade union.When he had suggested the very revolutionary idea for a general strike, he got expelled from Switzerland in 1903. He then went to an area called Trentino, which was ruled by the Austrians. The authorities soon labeled him as a trouble-maker; he encouraged the trade unions and attacked the Catholic Church. He was then expelled from Trentino in 1909 (Hibbert 4-10). Throughout Mussolini’s life, he had made his rise to power, many accomplishments, and in the end he had made a huge effect on his country.After being wounded in the trenches during World War I, he was sent home because of an injury only to become editor of his own newspaper. It was called Il Popolo d’Ital ia or The People of Italy. This represented his changing of his pacifist views, he used his paper to spread his new ideas and gain support. Mussolini also organized a pro-war group called Fasci d’Azione Rivoluzionaria. After the war he joined a different group called the Arditi Association, which was a military assembly composed of WWI veterans. Both of the associations contributed to the beginning of fascism.In 1919, Mussolini founded the Fasci de Combattimento, which was the skeletal structure for what was to become the political movement of Fascism. This attracted the attention of the lower-middle class with its nationalistic, anti-liberal ideas (The Columbia Encyclopedia 33087). During the 1920’s the Black Shirt Militia was formed by Mussolini due to his disgust with the corruption of the liberal and later socialist Italian government. Originally, they were reformers but then their methods became harsher and they used violence, intimidation, and murder.One of their typical techniques was to force-feed they’re opponents castor oil, which was often laced with petrol. Another method was to force them to swallow live frogs! Mussolini slowly began to back away from the Arditi Association as his Fascist movement became more powerful. In 1921 he was elected to parliament and the National Fascist party was organized. When his Fascists were sent to march on Rome they were permitted to enter the city and King Victor Emmanuel III called on him to form a cabinet (Lewis 16). This helped him gradually transform the government into a dictatorship.He soon got the official title of head of the government. His ambition to restore greatness found expression in pretentious slogans and speeches in the creation of monumental buildings which helped his encouragement of extreme nationalist groups. The fascist regime turned society into individuals who would just obey and distrust reason as well as understand violence as an essential tool to order. Ideally the country would transform into a totalitarian state; where the government would have total control over the lives of individuals and this would mean that anything is justified if it serves the states ands.Fascism emphasized victory, glorified war, is cruel to the weak, and is irrational and intolerant. Mussolini used the condition of the country to his advantage in his journey to becoming the dictator of Italy. Mussolini actually began his political career as a socialist and then became attracted to fasces, the ancient Roman symbol of the life-and-death power of the state, bundles of the lictor’s rods of chastisement which, when bound together, were stronger then when they were apart – reflecting the intellectual debt that fascism owed to socialism and presaging the symbolism of the renewed Roman imperium Mussolini promised to bring about.Mussolini claimed that it would help strengthen a relatively new nation (which had been united only in the 1860's in the Risorgimento ), although some would say that, like Lenin, he wished for a collapse of society that would bring him to power. Evidently, Mussolini accomplished many things during WW II on the Axis side. He started taking over Italy when he was dubbed Dictator. This was when he first was addressed as Il Duce, which means â€Å"the leader. † Since he had all the power of Italy, he began to take over and make all of the decisions.Mussolini started building roads, kept rivers from over-flowing, increased over production and ran the trains on time. He also extended his control over other countries. He invaded Ethiopia in 1935 and took over Albania in 1939. Not only was Benito Mussolini the leader of Italy, he was also the youngest dictator of Italy. Mussolini’s main role during WW II was being the leader of Italy. As earlier stated, he had tried taking over Ethiopia and seized Albania. Later on, the axis powers took over countries such as: Austria, Bulgaria, Czechoslovakia, France, Polan d, Romania, and many more.Mussolini soon became known as Hitler’s right hand man, and this helped him become very popular. Through his accomplishments, he pushed Hitler to make his own Fascist party. They became known as the Nazis. The axis power created a Rome-Berlin alliance of totalitarianism. As the axis power had every say in what people did, German, Italy, and Japan felt as though they could do anything. Mussolini had been a huge part with the axis powers during WW II (Lewis 15- 16). Once the Allies had occupied the southern part of Italy in 1943, the King had ordered Mussolini to be arrested in order to sign the peace agreement.He had then been imprisoned and then liberated by the Germans, Mussolini lived in northern Italy until his capture by the Italian Monarchy. He was then executed by the monarchy on April 28, 1945 along with his mistress, Claretta Petacci, by military forces of the Italian Resistance. The next day, their corpses and those of Mussolini’s hen chmen were hanged in the Piazzale Loreto, Milan, for public view (Antliff 1). Antagonisms between political parties had given rise to a civil war that continued for about three more years. Italians then decided, in 1946, to vote to dissolve the Monarchy.Then in 1948, the first political elections were held. Mussolini’s dictatorship will forever be remembered for bringing on many Mafia and Mani Pulite scandals and for political disillusion among Italian youth which escalated into such terrorist acts as Brigate Rosse and the Moro Affair. The Brigate Rosse was a Marxist-Leninist terrorist organization that arose out of a student protest movement in the late 1960’s. They had wanted to separate Italy from NATO and promoted violence in the service of class warfare and revolution. The original group concentrated on assassination and kidnapping of Italian Government and private-sector targets.They haven’t conducted an act since 1988, and have been largely inactive since the Italian and France police arrested many of the group’s members. In 1978, the BR had kidnapped Aldo Moro who was the Italian president-to-be. This became known as the Moro Affair. The 50 year period that Mussolini ran as dictator is now labeled as the First Republic which renewed Italian confidence in the democratic process (Lewis 17). The recent appearance of skinhead guards of honour at Mussolini’s tomb had provoked a controversy about how Italians should view their fascist period.Unlike Germany, Italy has never faced up to its role in WW II, preferring to see itself in the role of victim. The national narrative omits the first part of the war, in which Italians fought along side the Germans, and committed crimes in Albania, Greece, and Yugoslavia. Today, a resurgent nationalism has continued to gloss over the more shameful parts of Italian history, while at the same time allowing fascist apologists to exalt Italy’s most notorious 20th leader (Antliff 1). As the great dictator of Italy Benito Mussolini had rose to power by forcing his way to the top.He didn’t let anything stand in his way, even if it meant scamming. He achieved whatever he felt needed to happen, which finally, effected Italy’s history. All in all, Italy unlike the rest of Europe was greatly affected by the first World War and the state that the country was left in made it vulnerable to the extremist view of Mussolini and was easily transformed into a dictatorship and lead into a fateful alliance with Germany. Mussolini and his fascist ideals were able to overthrow Italy and turn it into a dictatorship and lead it into the second World War behind Hitler’s Germany.Mussolini was able to successfully turn Italy into a dictatorship under a fascist regime because of the country’s internally divided war-torn society as well as the weak state of Italy’s minority governments which could not unite to oppose fascism and finally because of his ability to appeal to this country through a false sense of security and nationalism. In my opinion, Mussolini played a negative role in the course of history. He led the Italians into the Second World War and so happened to join the wrong side. Subsequently, the country suffered lasting physical, political, and cultural damage.Their government remains constantly in turmoil. His methods and tactics fostered the rise of the Mafia in Italy. The Mafia and related activities gave the Italians an unfavorable international reputation with crime and trust even today. He fostered distrust of the government by the Italian people, which in itself was not bad, but his chosen methods of accomplishing objectives were proven to be ineffective. His leadership led to the eventual dissolution of the Italian Monarchy, which could have helped stabilize the country had it remained intact much like Britain’s and Sweden’s.His effect on Italy, in many ways, is still being felt today. Works Ci ted Antliff, Mark. Fascism, Modernism and Modernity. The Art Bulletin, Vol. 84, 2002. Falasca-Zamponi, Simonetta. Fascist Spectacle: The Aesthetics of Power in Mussolini's Italy. Berkeley: U of California P, 1997. Fermi, Laura. Mussolini. University of Chicago Press, 1966 Hibbert, Christopher. Il Duce: The Life of Benito Mussolini. Little, Brown, 1962. Lewis, Paul H. Latin Fascist Elites: The Mussolini, Franco, and Salazar Regimes. Praeger, 2002. Mussolini, Benito. The Columbia Encyclopedia, Sixth Edition, 2004.