Penelope

You can say that Penelope Is the perfect representation of patience, loyalty and fidelity because thou knowing the true whereabouts of her husband she blindly trusts his return, and along the work we can see how rejected suitors presented In Its door. Here we can also see one of Its mall features, the cunning. And not only that, pride In her home and family, and features such as hospitality make her one of the most complete characters with Odysseus.Penelope knows how to act in such a way that inadvertently marry any of the suitors, an idea how to deceive them, keep them in your door, and take advantage in some way all these gifts and favors that made him. The loom of the lord Alerts, is one of the representations of Penelope intelligence. She tells her suitors that when you finish this loom knitting, she will choose who he wants to marry. Carefully every night she undid everything she wove in the morning. With this trick was tricking her suitors three years. She said to us: My lords, my Suitors, though Odysseus is dead and you are eager for me to marry, have patience till I complete this work, I do not want it wasted, this shroud for noble Alerts, ready for when pitiless death's cruel end overtakes him: since I fear some Achaean woman f this land would blame me, if he who won great wealth lay there without a shroud† (8. 11) We can see Penelope as a strong woman, she is the queen of Ithaca and knows the responsibility that entails, if she married another man, this would become the king of Ithaca.She is able to take her house and her family by herself, demonstrating great courage and strength. I could say it's in their own way, the other heroine of the Odyssey. In the work by comparing the story of Penelope and Odysseus with the story of Clytemnestra and Agamemnon see the obvious differences between the characters. Penelope and Clytemnestra were In the same situation, but react in completely opposite ways. While Clytemnestra betrays Agamemnon having being u nfaithful and finally killing him, Penelope Is faithful to her husband, waiting for him not knowing If he will return.This highlights even more the characteristics of Penelope, making It look Like a strong and sensible woman. â€Å"†¦ Most plateful was the voice I heard of Prism's daughter Cassandra, killed by treacherous Clytemnestra over me; but I lifted my hands and with them beat on the ground as I died upon the sword, but the sluttish woman turned away from me and was so hard hat her hands would not press shut my eyes and mouth though I was going to Hades'.So there is nothing more deadly or more vile than a woman who stores her mind with acts that are of such sort, as this one did when she thought of this act of dishonor, and plotted the murder of her lawful husband. See, I had been thinking home, but she with thoughts surpassingly grisly splashed the shame on herself and the rest of her sex, on women still to come, even on the one whose acts are virtuous. † (1 1. 2 1-434) The contradiction that we can find in the behavior of Penelope s precisely how she keeps her suitors waiting for her, but this is part of one of its main characteristics, which is the intelligence to handle the situation alone. While continuing to be faithful and loyal to Odysseus, get to take advantage of the suitors. If we focus on the position of women in society of ancient Greece, Penelope is represented as an ideal woman, example of charity, generosity, cunning and intelligence. Penelope takes an unprecedented role for this time, even though this behavior so we could get to find normal in our society.Homer represents Penelope as a heroine of Greek society. Makes her everything a Greek woman should do, keep fidelity and loyalty to her husband, but this is 20 years without returning home. She's at home, as a woman, but also we can see a man talking and arguing with them, something for which a Greek woman is not ready. This raises the idea that Penelope is partly oppressed by Greek customs but this is contradicted by his acting and bringing the situation, because she believes in the love she feels for Odysseus and that he will eventually return.A woman in Greek society should not be allowed to play such positions, Odysseus could have given power to someone who was not Penelope, but it is she who is in charge of the kingdom. With that Homer shows us his vision of the ideal woman Greek. Another sign of cunning and intelligence of Penelope is when she thinks about testing the arc. As Chris Emily-Jones says in The Reunion of Penelope and Odysseus led by the intuition that the beggar was really Odysseus invents arc test, knowing that the only one who could use it was him. Penelope had the intuition that the beggar was Odysseus by his dreams and the attraction they felt for him.The only thing that can make us doubt this situation is, why she gives up and wants to get married at that time? Why happened when Odysseus is there? Alex Cist in his article Penelop e Role in the odyssey shows us a comparison with Calypso, Retreat makes Circe and through this comparison Penelope is represented as a woman and ideal lover: ;However, in the Odyssey, most women fall into one of two categories in regards to their personalities and relationships with men: they were either loyal wives (Retreat) or alluring seductresses (Calypso, Circe).What makes Penelope special is that she possesses characteristics of both an ideal wife and an ideal lover†. According Cist, the idea of perfect love is took from the sentiment between Odysseus and Penelope, the union that exists between both makes this love a perfect love and the perfect union ; The unity of Their personalities, according to Odysseus, means they have a perfect love, their minds and hearts are unified†.And one more time, as I have said before, Alex Cist shows us strong the idea of Penelope ability to handle her situation with the suitors: ;Penelope entrapment of her suitors despite constantl y rejecting and spurning them shows that she has what it takes to steal a man's heart. And important distinction, though, between the queen and other seductresses is that Penelope does not do this consciously. † We can compare Penelope with Mary Bloom, its equivalent in the Ulysses written by James Joyce.Molly would be the opposite figure of Penelope; her life is marked by a precocity in the final monologue of this work. On the other hand you can not criticize this attitude, because it conveys a message of naturalness and Molly's character tries to get on with life despite having in his mind to her husband Finally, we can say that Penelope was a great woman, and an example of ideal woman n Greek society, that's how Homer wanted to show it to us.

Porters Five Force Analysis for Paint Industry

1. Concepcion-Carrier Air Conditioning Company Formed in January 1998, Concepcion-Carrier Air Conditioning Company (CCAC) brings together two leaders in the air conditioning industry: Carrier Corporation of the United States and Concepcion Industries, Inc. of the Philippines. In just a few years, CCAC expanded from manufacturing window room air conditioners to becoming the market leader in virtually all categories of Heating, Ventilating and Air Conditioning (HVAC) equipment and services in the country. CCAC brings to the Philippine market Carrier Corporation's long tradition of innovation and product excellence.It has the Philippines' largest air conditioning facility that makes an wide range of products of outstanding quality, and is recognized by customers abroad, who source from it products proudly Philippine-made. Carrier products are designed in engineering centers and manufacturing facilities located worldwide. Spread across six continents, Carrier's global operations make it the largest manufacturer of air conditioning, heating, ventilation and refrigeration products. It is supported by a vast network of distributors, dealers, retailers, and technicians who sell, install and service Carrier products in over 170 countries.A heritage of technological innovation. Leadership in responsible environmental stewardship. Carrier Corporation and CCAC – creating environments for life. Worldwide. * Concepcion Industries, Inc is a maker of electrical appliances such as air conditioning equipment and refrigerators. The company is based in the  Philippines  and was founded in the 1960s. The company is known for its several notable brands that include  Carrier,  Condura, and  Kelvinator. * Carrier in 1902, Willis Haviland Carrier designed the world's first air-conditioning system.This single achievement made it possible for people to live, work, study, shop, travel, or play in worry-free indoor comfort. Today, Carrier continues to build on the pioneeri ng spirit of its founder. With manufacturing, sales, and service operations in more than 170 countries, Carrier is the world's leading heating, ventilation and air-conditioning company. It leads in developing a constantly growing array of innovative products – all designed to meet the exacting needs of its customers around the world, while leading the rest of the industry in forging higher standards of stewardship over the environment. . Panasonic Manufacturing Philippines Corporation (PMPC) A manufacturer, importer and distributor of electronic, electrical, mechanical, electro-mechanical appliances, other types of machines, parts and components, battery and related products bearing the brand name, â€Å"Panasonic†. At present, the primary products manufactured by PMPC are refrigerators, air conditioners, washing machines, electric fans, dry cell batteries and flashlights.Consequently, through its sales division, Panasonic Philippines (PPh), PMPC Continually strives to expand its sales, service and distribution networks to make Panasonic products and service conveniently available to its consumers. In October 2003, PMPC ceased using â€Å"National† Brand and Unified the branding of all its products under the Panasonic brand. PMPC, formerly known as Matsushita Electric Philippines Corporation, changed its corporate name to Panasonic Manufacturing Philippines Corporation and officially started using it on April 1, 2005 along with its continuing commitment to customer satisfaction and service to society.Since an enterprise uses society's resources – people, capital, real estate, community services – PMPC believes that it started out and remains indebted to society. Along this premise, the company recognizes that the primary role of its business is to serve society in return for the use of its resources and thus devotes its business activities to the progress and development of society and the well being of the people. This commi tment serves as guidance for PMPC in carrying out its operation and corporate activities. 3. Koppel, Inc. 957 marked the year when the company started manufacturing splits and packaged type air-conditioners. The years that ensued saw Koppel as the preferred brand of choice among industry consultants and the undisputed market leader in the industry. The company continued its growth and maximized its sales volume, growing its products and improving its services, making Koppel the by-word in all air conditioning requirements across the country. In January 2000, Koppel was acquired from Asea Brown Boveri (ABB) by Fedders Corporation.By then, the company has expanded its product line-up to include not just the commercial and industrial segments, but to tap the growing retail market through  residential air conditioners. Last September 2008, the company has been acquired by KPL Inc. , a local company which is keen on tapping the dynamic aircon market. As Koppel, Inc. , the company is fo cused in strengthening its core competency in the packaged business and advancing its technological capability by sourcing strategic products in the projects and industrial applications.To date, Koppel is the second largest aircon manufacturer in the Philippines, servicing aircon requirements across the country for over 50 years. Its rich heritage in providing high-quality and reliable aircon products is a testament to Koppel’s commitment to service all its customers nationwide, from its centrally-located office in Paranaque to its full-service branch  offices  in Cebu and Davao. For 2009, Koppel, Inc. has expanded its product range to include eco-friendly products that dramatically reduce our  energy consumption.The company continues to challenge itself with ways to help reduce our  carbon footprints and in the long run, protect our fragile environment. 4. Hitachi Air Conditioning Philippines, Inc. Established on March 02, 2000 with a capital fund of 20,285,000 pesos . Mainly engage on the manufacture and sale on wholesale basis of Home Appliances and air conditioners. nvestment for Hitachi Air Conditioning Sales is 85% financed by Taiwan Hitachi Co. ,Ltd. and 15% by Hitachi Life and Solutions, Inc. Hitachi Air Conditioning Sales (Phils. ) Inc. ells air conditioning products like the Self-Contained Air Conditioners,Air-cooling Chiller Unit, Room Air Conditioners, Packaged Air Conditioner,Fan Coil Unit, and Dehumidifier, washing machines and refrigerators which are distributed in the domestic market. The merger between the two companies, Taiwan Hitachi (Subic), Inc. and Hitachi Air Conditioning Sales (Phils. ), gave way to better opportunities for Hitachi air conditioning products and home appliances to be introduced to a wider range in the market both domestic and global. . KOLIN Philippines International, Inc. A consistent major player in the industry, that is committed to produce, innovate, and distribute world class home appliances and servic e, molded by competence and dedication to quality after-sales-service, guided by moral and ethical business principle. Contributes to the development, growth and upliftment of the welfare of its employees, shareholders, customers and suppliers. Genuinely committed in supporting community endeavors in the preservation of the environment.

Criminal case of Florida vs Jamarco Stafford Term Paper

Criminal case of Florida vs Jamarco Stafford - Term Paper Example The case of Jamarco Stafford and James Adams reflect a phase in the lives of human beings where crime seems to have taken a major role in changing an entire scenario of a family from happiness to a shattered stage of living. The families of Jamarco Stafford and James Adams could be realized to be in such a stage after they lost their children and faced their other children spending days and nights in jail. Murder being a heinous and harsh crime has been found to encounter several laws and charges. Yet, the society seems to be unable to control human beings from taking up such dreadful measures. Particularly, in the modern times, the younger generation seems to be more violent in nature and getting involved in incidents of murders (Holinger, 1994, p.21) as in the case of Jamarco Stafford and James Adams also get presented. The story of Jamarco Stafford and James Adams presents a case where these two friends who were extremely close friends, growing up together, attending places and events together, eventually betrayed each other when both killed each other’s brothers. Adams had killed the brother of Stafford on demand of a gun. The resistances on the earlier murder created confrontations that led to a second murder of Lavoris Adams who was the brother of James, by Stafford. The incident shattered the lives of these two families and the two young kids had to spend their lives in jail. The incidents were shocking and unexpected since these two kids had grown up together and were the closest of friends (Lebovich, n.d.).... The incidents were shocking and unexpected since these two kids had grown up together and were the closest of friends (Lebovich, n.d.). In the recent years murders or killing by adolescents have rapidly increased in rate. This has eventually created difficulties for â€Å"law enforcement personnel†, as well as other people who are involved in the social or health welfare of common people, the educators, members of families and the peer groups (Heckel & Shumaker, 2001, p.xix). Particularly in cases of adolescent killings it becomes highly difficult to judge the causes behind the act. The young generations are unable to explain their thoughts, their reasons, and are confusing and unaware of the consequences of such actions. Many times they attempt such acts from utter immaturity and impatience (Heckel & Shumaker, 2001, p.xix). Criminal laws are also applicable on the adolescents who execute such heinous crimes. In fact, the number of prisoners from adolescents seems to be rising more than adult prisoners. Juvenile murderers are also treated like adults since laws have now initiated measures not to be partial in such cases, instead criminals should tried as made by the law. The adolescents who have been found to be involved in murders reflect that the number of males in the records is much higher than there are females in the same record (Worell, 2001, p.617). Criminal law and its theories are highly significant in the context of adolescent killing. It has been observed that a criminal law theory may be different from other laws thus making the criminal law theory a unique theory in its context (Moore, 2010, p.8). In most cases the causes of a crime would not be able to be explained by common people. However, several researchers have

Kaiser Wilhelm II Essay Example | Topics and Well Written Essays - 2500 words

Kaiser Wilhelm II - Essay Example The period between 1888 and 1914 saw rapid growth of Germany as an economic and military dominance. On the other hand, Europe was largely divided into different opposing camps due to the suspicion arising from allies that were formed during this period. The mistrust culminated into the World War 1, where Germany experienced the worst defeat in the century. Consequently, there was the abolishment of German monarchical rule, and all this was blamed on Wilhelm’s actions and character (Imperial War Museums 1). Additionally, the miscalculated judgments by Wilhelm led to the dismissal of Bismarck in 1890. Moreover, Wilhelm II disrupted the political system that had existed in Europe (Imperial War Museums 1). This was largely seen through strained relationship that existed between Germany and Britain. In addition, as Germany engaged in supporting the Boers against Britain, this hastened the development of strong ties between France and Britain to the detriment of Germany (Imperial Wa r Museums 1). This also increased isolation of Germany to the rest of Europe. The other essential thing to note is Wilhelm’s support of Austria-Hungary against Serbia. This opened doors for strenuous relations between various allies in Europe. This was detrimental to Germany and Europe and was utterly opposite of the situation in the last quarter of 19th century. ... He adopted different form of governing for over two decades before the beginning of the First World War. The form of governance was different as compared to the one practiced by Bismarck. The governance was more liberal and compared to the conservative nature adopted by Bismarck. He engaged in aggressive and expansionist political course entirely in the name of maintaining Germany position in Europe. All these far-reaching policies acted as a recipe to war in 1914. This was because the policies adopted by Wilhelm II destabilized the relative peace that Bismarck had managed to restore. However, the foreign policy remained the same throughout this period as what was envisioned in the unification of Germany. Moreover, there was the adoption of a German constitution in this period that envisaged the militaristic foundation of the new empire. The constitution gave all sections of the government real political power. The sections included the Bundesrat, the Reichstag, Prussian cabinet and the military establishment. The election of the Reichstag was by all males over the age of 24 (Imperial War Museums 1). This gave Germany a law making body that had similar democratic principles to the rest of Europe. However, all the different factions of the government were under Wilhelm II. As a result, Wilhelm had enormous political power and this was instrumental to the institutionalization of ‘personal rule’ as envisioned in his dreams (Imperial War Museums 1). Secondly, Wilhelm made a political decision that was not expected by many in Germany at this period. He forced Bismarck to resign in 1890. This was seen as resulting from variation in political ideologies. This was because Bismarck was conservative as compared to Wilhelm 11 liberal approach. This provided

Research report-Tour Down Under Paper Example | Topics and Well Written Essays - 2500 words

Report-Tour Down Under - Research Paper Example Some of the notable events include AFL Grand Final, Clipsal and Tour Down Under. Based on its popularity among Australians and foreigners, Tour Down Under has been recognized as a major sport tourism event. Tour Down Under (TDU) is a cycling event held in South Australia. Based on its popularity in the country and across the globe, TDU attracts large numbers of tourists thus having a positive implication for the South Australia economy as well as social and cultural aspects of the region. Being held in January each year, the event has continued to attract a large number of participants thus making it act as a major source of tourism attraction. To the residents of Australia, TDU is not only seen as a sporting activity but also as a charity and international event that greatly benefit local people and the government (Hall, 1992). This paper seeks to evaluate the impact of the Tour Down Under on different stakeholders. In addition, the paper will discuss a strategy of using the event t o attract more tourists to South Australia. ... For instance in 2011 and 2013, 782,300 and 760,400 spectators respectively experienced the Tour Down Under. Due to the large number of spectators who come from various countries, the event was recognized by the Qantas Australia Tourism Awards in 2011 and 2012 as the best festival event. In order to attract more spectators, the Australia government in collaboration with Mike Turtur, the Tour Down Under directors, undertakes extensive promotion strategies. For example, in 2013 event the organizers held that when the Tour Down Under would hit the Adelaide Hills all the spectators would experience a European-style treat (John, 2013). In this way, the event has benefited from a strong loyalty from the spectators thus making it more popular. A notable aspect of the spectators is the creation of festival atmosphere by creating strong friendship with the visitors thus leading to visitor satisfaction. 3.0 Impacts on participants Tour Down Under participants include all 19 UCI WorldTour. Once the teams are ready, they join the Australian National UniSA team thus forming the Australian National UniSA team. Each team consists of seven riders (Gammon and Robinson, 2003). One of the major factors that enable the event to attract a large number of participants as well as spectators is the visual attributes of the landscape within which the event is held. The natural environment, the scenic vineyard and the sea, make the event provide a strong experience to the participants (Gibson and Heather, 1998). Some of the major regions that make up the tour include Barossa, Clare Valley, urban circuits, Saddleworth, Norwood and Hahndorf among other towns. Tour Down Under invites the winners of each year to join other

Organizational Behavior Essay Example | Topics and Well Written Essays - 750 words - 4

Organizational Behavior - Essay Example From the start of its operation, the business organization has recognized that importance of their workforce in the attainment of their organizational goals. As one of their executives put it, â€Å"employees are at the heart of our results† (Newing 2007). In order to pursue employee excellence, the company commits its resources in ensuring the continuous communication between leaders and their staff. American Express strongly believes that it can uphold its tradition of excellence by enabling the staff to learn from the experience of their leaders. Thus, training programs include pairing up a newly hired staff to their business managers who will not only gear him with the skills that he needs in order to fulfill his tasks but will also oversee his growth and development within the organization. Aside from this, the company has also established larger group forums which invite employees to hone their skills. Higher level managers are often responsible in leading these groups. It should also be noted that even managers from another line of business participate in these activities. American Express also employs mentors which are usually executives in another line of business. Staffs are benefit from this coach as he â€Å"provides a strategic perspective on the organization and long-term support through their careers.† The company’s leaders have been active on this noting that constant communication between them and the staff will not only equip employees with the necessary skills but will help the business organization in the fulfillment of its goal of maximizing shareholder wealth. In order to gain feedback in the efficiency of these programs, American Express conducts an anonymous annual survey. The company’s programs appear to be successful indicated by the high participation rate of employees. The business arena has evolved pressuring business organizations to treat their employees as significant resources which

Global Executive Essay Example | Topics and Well Written Essays - 750 words

Global Executive - Essay Example us opportunities available in today’s transnational business environments a global executive has to have a profile to explore these possibilities and navigate his company. He has to have a vision and a strategy. Kenneth Chenault is the CEO of American Express (AmEx), a company that forwarded freight and valuables initially. Today AmEx has evolved into a company that creates and sells financial products and is well known for its charge card. International expansion has made American Express a global payments company. Kenneth Chenault has most of the qualities if not all, that are required to succeed in a global and a highly competitive credit- and charge-card business. According to Timothy O’Brien (1999) Chenault is known to be a â€Å"savvy marketer and a determined revenue builder†. A global executive has to have the following competencies : Strong management skills, able to think globally, sensitive enough to build lead effective teams that are diverse (cross-cultural), competitive, expert in recruiting talent from different regions, must be able to teach, motivate and influence, strong in building inter-persinal relationships, ready to empower people, must ensure feedbacks, has to be a good listener and a communicator as well , ability to encourage constructive dialogue, leadership qualities to lead change and innovation and last but not least to learn from experience.. Doug Lennick and Fred Kiel (2005) have said in their book that the four elements vital for sustained success are integrity, responsibility, compassion and forgiveness. A global executive has to have these qualities. Being a global executive means having a vision and a right strategy. His strategy was to expand the charge card network through banks and financial institutions; offering wider financial and investment services and increasing the market share in niche segments like small businesses and overseas markets. He used technolgy like the web and smart cards for this purpose. He

LAW FOR BUSINESS Essay Example | Topics and Well Written Essays - 1250 words

LAW FOR BUSINESS - Essay Example An example is if you negligently cause someone to break his or her leg and can't work for two weeks, the economic loss he/she suffers as a result of being unable to work as usual is consequential economic loss. Similarly, if someone negligently breaks your car, and he or she needs the car to go to work and it takes him or her two weeks to get a replacement car, the economic loss he or she suffers is consequently economic loss. According to www.gillhams.com, (2010) The importance of determining the differences that exist between pure economic loss and other forms of loss that are consequential to injury to the person, physical loss or to the property is that the pure economic loss is usually not recoverable in law as damages or otherwise. Pure economic loss can commonly be categorized as loss of some other form of pecuniary gain, wasted expenditure, profitability or loss of profit. When pure economic loss is negligently caused to a party to a contractual right or contract are made les s valuable by the acts or omissions of a defendant, both instances that is where the terms of the contract have not been breached or violated, cannot give rise to a good cause of action and action to be taken. There is a class arising from a certain class of torts and often referred to as economic torts that allows the recovery of economic interests by the parties involved. However, these economic torts do not allow recovery of pure economic loss, as liability stems from the root of harm to some interest that can be protected in the hands of the claimant, such as harm to a business, procuring a breach of contractual rights, or some other actionable wrong. According to V. Charlotte (2006), it is notable that for the loss to be consequential economic loss, the injury or the property damage has to be to you, not someone else. Lets say A negligently crashes his car into the car of B. B is then rendered unable to work for two weeks. This means that he gets to loses his income for two wee ks. Because B was a good employee, his employer, C, also loses income. B's economic loss is consequential. C's is pure economic loss, because the personal injury was to B, not to him. This example therefore shows the difference. The floodgates argument is the most common one. It would mean that single events could lead to any numbers of claims. It is argued that because the amounts of pure economic loss claims and the class of people claiming for pure economic loss are so uncertain and so indeterminate, it would make it very difficult and very expensive for people to insure against these claims (www.gillhams.com, 2010),. S. Anthony, (2009) Economic loss is not always is not always irrecoverable in the tort of negligence, but it requires a claimant to prove the exceptional circumstances necessary in order to establish that a defendant owed him a duty of not to cause such damage. This long standing, reluctance to recognize a duty of care to prevent an economic loss has been largely ba sed on what is referred to as Floodgates argument. The concern is that it would widen the potential scale of liability in tort to an indeterminable extent. In Murphy v Brentwood, there were two main reasons for the decision in the case. Firstly, it was considered established law that in tort the manufacturer of chattel owned no duty in respect of defects that did not cause personal injury or damage to other property. The second main

Types of Contracts and Performance-Based Acquisition Research Paper

Types of Contracts and Performance-Based Acquisition - Research Paper Example They are the most common form of contract and are used in majority of the contractual agreements. They are used when uncertainties are involved in contracts and they do not allow costs to be submitted with accuracy to a fixed price contract. It is a favorable contract in conditions where the outcome of the contract or the project is uncertain. A contract which has a written preliminary contractual instrument and which is able to authorize a specified contractor and can begin manufacturing supplies and in performing some specific services is called a letter contract. It could be used in circumstances where the interests of government demand that the contractor is given a binding level of commitment and contractor is able to start working instantly and is able to negotiate a contract in the specified time. Performance based contracts are not literally contracts but a specific acquisition method where requirements can be described by a performance work statement or a certain statement of objectives. Performance based contracts are made to ensure that contractors are able to meet quality levels and payment is related to the specified contract standards. The choice of which contract is to be chosen for vehicle purchase is related to general contract law. Parties to a contract are allowed to select the contract in which they have certain rights and obligations towards each other (Koffman, 2007). It is the most pivotal concept of contract through which parties are obligated to make promises and they are bound to follow those promises made. The ideal contract, which could be chosen for vehicle purchase, is performance-based contract as it portrays a sense of mutual consideration among the parties that may not be any direct or formal prerequisite for selection of a contractual law unless the parties to a contract agree to it. As mentioned before, this contract will ensure that contractors are able to

College still matter Essay Example | Topics and Well Written Essays - 250 words

College still matter - Essay Example However, the necessity for college level education in employment has brought with it the dilemma of widening the gap between low, middle and upper class citizens. Those poor people, who have intelligent children, but cannot afford to get them into college, suffer from the disadvantage that their children cannot get into decent workplaces. College education basically points toward the middle class position in society, and hence, necessitating college education for employment would mean that people from middle class and upward are only eligible for good opportunities in employment. The gap may not have increased in middle and upper class citizens, but has definitely increased in lower and other classes because they will not be preferred in employment. Educational institutes may not have a role, but the government definitely has a role in making education available and affordable for all people of society, so that those of low socio-economic status may also be able to avail education an d employment opportunities just the same as other

Archimedes Essay Example for Free

Archimedes Essay Archimedes was one of the most known and respected mathematicians of ancient Greece. He was born between the years of 290 and 280 BCE in Syracuse, Sicily which is currently known as Italy. His death took place in Syracuse, Sicily between the years of 212 and 211 BCE. In autumn of 212 or the spring of 211 Syracuse was taken over by Roman General Marcus Claudius Marcellus (Encyclopedia Britannica, n. d). It was during the cities take over that Archimedes was killed. There is rumors about what lead up to a Roman solider killing him. Some historians believe his death was due to Archimedes not willing to give up his mathematical diagrams of mirrors that would burn the Roman ships. The exact years of his birth and death are uncertain, but Greek historian John Tzetes believes he lived to be 75 years old (â€Å"Archimedes†, n. d). Archimedes father was named Phidias who was an astronomer. His mother’s name is unknown, but there is belief that Archimedes is related to the Ruler of Syracuse King Hiero II. There are currently not many documents of Archimedes upbringing. In fact there is only one record of his life that was written by his friend Heracleides. Unfortunately this biography was lost. Education Archimedes was not only a mathematician but also a physicist, engineer, inventor, and astronomer (â€Å"Archimedes†, n. d). Archimedes thought of himself as first a mathematician and secondly an inventor, his other qualities where simply additional characteristics. He received his knowledge by spending most of his life studying in Syracuse but did spend some time in Alexandria and Egypt possibly with another ancient mathematician known as Euclid. Besides Euclid, Archimedes partnered with other mathematicians of his time. These mathematicians are Conon of Samos and Eratosthenes of Cyrene. Along with studying with these individuals, Archimedes published some of his works in correspondence with them. These published essays include The method of Mechanical Theorems and the Cattle Problem (â€Å"Archimedes†, n. d. ). Greatest Accomplishments Archimedes is famous for several great accomplishments by many during his time period and individuals within this present time period. He is known to have written several books and other types of work. One book which is actually divided into two books is called On the Sphere and Cylinder. On the Sphere and Cylinder describes characteristics of spheres and cylinders as identified by Archimedes. He goes into detail the surface area of any sphere has a radius that is four times that of its greatest circle and the volume of a sphere is two-thirds that of the cylinder in which it is inscribed (Encyclopedia Britannica, n. d. ). Archimedes was so proud of his discovery that he had his tomb marked with a sphere inscribed within a cylinder. The tomb was found in 106-43 BCE by Marcus Tullius Cicero (Encyclopedia Britannica, n. d. ). Another one of his greatest accomplishments would include his determining of the exact measurement of pi. He was one of the first mathematicians to begin studying PI. He began his study of PI between the years of 287 and 212 BCE. His studies determined PI equals 223/71 PI 22/7. His results are related upon approximating the area of a circle based on the area of a regular polygon inscribed with the circle and the area of a regular polygon within which the circle is inscribed (â€Å"PI†, n. d). According to his work he started with studying a hexagon and worked his way up to the polygon with 96 sides (â€Å"PI†, n. d). This was deemed very impressive back in his day and in the current modern day. Archimedes created a great invention that is still used in some parts of the world today it is called the Archimedes Screw. Historians believe the Archimedes Screw was invented when King Hieron II approached Archimedes with the request of building a large luxury ship. Thanks to Archimedes’ excellent knowledge of buoyancy, he constructed the ship with little hesitation. Unfortunately, he found that the ship constantly leaked. The ship’s leakage is what brought on the invention of the Archimedes Screw. Archimedes constructed a device that could be operated by one person. The device was simple in design and efficient at moving both liquid and solid particles. This invention that was intended to originally pump water out of the bulge of a luxury ship led to an agricultural device used to pump irrigation water up a gradient and still used by modern day farmers. Around 211 BCE Archimedes formulated the â€Å"hydrostatic principle† also known as the Archimedes principle. The Archimedes principle demonstrates how an object’s density when immersed in a specific volume of fluid will sink or float. The formula is described as W=pVg (â€Å"Archimede’s Principle† n. d). The formula demonstrates that if the density of the object is greater that the fluid the object is placed in, the object will sink. If the object has the same density off the volume of fluid it is placed in it will neither sink nor float. It is when the object is placed in a mass of fluid that is greater than the density of the object that causes it to float. This principle is still practiced today by modern day mathematicians. Archimedes principle has an interesting story associated with its origin. Rumor has it that Archimedes was approached by King Hiero II after he ordered a gold crown. The King was concerned the crown was not pure gold as he had requested. He was convinced it was mixed with silver. So, the King approached Archimedes with his concern. Archimedes decided to take a bath. This bath is what leads to one of the greatest discoveries of all times-the Archimedes Principle. While in the bath he discovered that the exact amount of water equivalent to his submerged body mass overflowed the edges of the tub. After realization of his discovery he was so excited he jumped out of the tub and ran out of his home into the streets of Syracuse screaming â€Å"Eureka, Eureka†. The term eureka stands for â€Å"I have found it†. Besides the invention of the Archimedes Principle, the commonly used term of Eureka can be credited to Archimedes himself. Before his death between the years of 212 and 211 BCE, Archimedes played an important role in the defense of Syracuse against the Roman navy. He invented what was known as â€Å"war machines†. He constructed these machines so effectively they delayed the initial capture of the city of Syracuse. Archimedes created these machines by applying his knowledge of mathematics and science he used devices known as pulleys, and levers. These war machines consisted of several aspects of his inventions. Some of these aspects include stone throwers, and large crossbows. Other characteristics of his war machines included the use of the Archimedes claw. The Archimedes claw uses a crane and grappling hook to reach down and grab the Roman galleys. This action ultimately leads to capsizing them (â€Å"war machines† n. d). Besides these great inventions that deterred the Roman navy for quite some time, Archimedes included the use of mirrors or polished stones to focus direct sunlight into a point and would cause the wooden ships owned by the Romans to become engulfed in flames. This concept of using mirrors to catch fire to the Roman ships is known as the â€Å"Archimedes Death Ray† (â€Å"war machines† n. d). This one invention is thought to have been the ticket to his death. According to history the Romans wanted the designs so significantly that if Archimedes did not render them over he would be killed. Archimedes can be thought of as a hero that fights for what he believes in, he refused to hand over his invention and death was his only option. Conclusion Archimedes can be credited with the title of one of the world’s most knowledgeable mathematicians and inventors. He was highly thought of during his time period and his wisdom still lives on in modern day society. Archimedes has created several inventions and contributed several mathematical concepts. To sum up some of his most known and most important inventions they are determining the measurement of PI, the Archimedes Screw, the Archimedes Principle, and his creation of war machines. Even after his death in Syracuse around 212 or 211 BCE, his mathematical concepts did not die with him. His inventions and knowledge will continue to be acknowledged, studied, and taught well into the future.

8 Principles of a Good Oral Communicator Essay Example for Free

8 Principles of a Good Oral Communicator Essay According to Lewis (1975), Communication means sharing messages, ideas, or attitudes that produce a degree of understanding between a sender and a receiver. Communication cannot take place until the receiver correctly receives and interprets the information and then respond. Oral communication implies communication through the mouth and includes individuals interacting using spoken words. Speeches, oral presentations and discussions are all forms of oral communications. Being a good oral communicator can enable you to inform, motivate, entertain or even persuade others to accept your points of view. There are many basic principles of being a good oral communicator. For the purpose of this paper I will briefly discuss eight (8) of these principles. Maintaining good eye contact with your audience, knowing your topic and purpose, showing emotion of passions and interest during your speech, presenting a rounded picture and speaking clearly and pleasantly in a conversational manner all contribute to a person being an effective oral communicator. Being prepared is of most importance when giving a speech. Know your subject. Thoroughly research your topic and prepare for possible questions. The written speech should never be memorized. See more:  Mark Twains Humorous Satire in Running for Governor Essay You will look stiff, sound uninteresting and bore your audience. Memorizing is a fatal mistake. It turns the speech into a mere recitation; and reciting is not nearly as effective as speaking direct to the audience. A speaker must be free to alter, omit, or add as he sees what his audience requires. If possible, make up index cards with notes or key phases to refer during your speech. It is very important to connect with your audience. Speak to your audience, listen to their questions, respond to their reactions, adjust and adopt. One mistake speakers often make is trying to prove they’re smart. When you stand in front of an audience, there is already a gap — you’re the expert, they’re not. By trying to impress your audience with your intellect, you create more distance and could come across as arrogant. Your job is to close the gap, not widen it. Add humour whenever appropriate and possible. Keep audience interested throughout you entire presentation. A public speaker should always anticipate objections. There will be members of the audience whose sole purpose is object to whatever is being presented. There will also be persons in the audience who might be knowledgeable about the topic you are presenting on. Be open to questions and let it be known that you ‘don’t know it all. ’ By being self-effacing, humorous and real, you become approachable and it’s easier to win over your audience. In turn, the more connected the audience feels to you, the more they’ll pay attention to what you have to say. Use words that are within your audience’s vocabulary or calibre. Do not try to impress them by using â€Å"big words† as they will not understand what is being said and will lose interest in your presentation. Maintaining sincere eye contact with your audience is a very essential part of giving a speech. It helps create a sense of two-way communication and shows that you are interested in interacting with your listeners. When you are looking at your audience, you should not stare and should try to scan the group, not looking too long at any one person or section of the room. You should try to vary the focus of your eye communication, trying to involve everyone in the group or each section of the room. In public speaking the management of the voice is very important. Some speakers speak too low and cannot be heard well in a large hall. Some shout, and their voices are drowned by the echoes. Some talk so fast that they cannot be followed; and some speak so slowly as to tire their hearers patience. The speaker should speak clearly, for all to hear; he should vary the intonation of his voice to avoid monotony and to enforce his meaning; and he should know when to make effective pauses. Also you should add inflection and emphasis to be effective in making your points. Communicate a little at a time. Simplify your messages. You are where you are because of the depth and breadth of your expertise. Your natural inclination will be to impart lots of that knowledge onto your audience. Resist it! Otherwise, you’ll bore and overwhelm your listeners with details they’ll never retain. Focus on conveying a few powerful ideas that they’ll remember. It is also beneficial for a presenter to present information in several ways. Use audio-visual aids or props for enhancement if appropriate and necessary. Master the use of the presentation software before your presentation. A presenter should speak with conviction as he really believes in what he is saying. Let your passion show. There is no substitute for authentic passion at the podium. When you believe in your message and have energy around your topic, it will ranslate to your audience. Above all else, be yourself up there! In concluding, a good oral communicator should aim to master the basic principles of public speaking. A speaker should know the needs of his audience and match his contents to their needs. Look pleasant, enthusiastic, confident, proud, but not arrogant. Maintain eye contact. Show appropriate emotion and feeling relating to the topic. Know his material thoroughly. Ensure that his speech will be captivating to his audience as well as worth their time and attention. The result will be a sharper central idea and a tighter, more coherent speech.

Importance of employee satisfaction in an organization

Importance of employee satisfaction in an organization In the beginning, we are looking for the factor that influences job satisfaction among the workers/ front liner in SingTel. After that in the following chapter is about the review of the relevant literature. In chapter 3, we will looking for the method been use for this study and followed by chapter 4 is about the result and discussion from the analyses of data and findings of the research. And for the last chapter which is chapter 5, it summarized and recommend according to the finding and result. Job satisfaction is about the feeling of the nature of the job. In order for an organization to be successful, it must continuously ensure the satisfactorily of their employees (Berry, 1997). The happier the workers, the more satisfied they are. Besides, satisfied worker also a productive worker. Organization with more satisfied employees tends to be more effective (Robbins Judge, 2007). In todays world, organization realize that is it important to keep their worker satisfied as human recourse is the important assets for the organization to keep their business running. With satisfied workers, they will deliver the better quality service to the customer which indirectly will increase customer satisfaction. Customer satisfaction is important as it is essential in building long-term, profitable relationships ultimately leading to customer loyalty and repeat business. As for the workers, job satisfaction is important for the employees mental health (Smith, Kendall and Hulin, 1969). Upon study on job satisfaction, factor that influences the level of job satisfaction is vital to be addressed. They are many factors that influence level of job satisfaction such as the organization factor which may include working condition or anything that related to the working condition. For example: leadership style and pay. Besides working condition, personal factors such as health issue and family conflict. 1.2 Problem statement Human resources are the most valuable assets in an organization especially those high performing employees and it will be a trouble to company if those employees leaving or deliver bad service to their customer. One special issue is the low level of employee job satisfaction that brought difficulties in increasing service quality (Yi, 1993). Seta, Paulus and Baron (2000) pointed out that knowing the factors contributing to the employees satisfactions; the organization can plan properly and take appropriate step to increase positive behavior among employees. It means that organization or management need to prepare proper training or program such as reward, growth opportunities or job security in order to increase job satisfaction among the employees. According to malhotra Mukerjee (2004), Call centers facilitate flow of information and communication between firms and their remote customers via the telephone. According to Prahabkar, Sheehan, and Coppett (1997), call centers à ¢Ã¢â€š ¬Ã‚ ¦.allow a company to build, maintain, and manage customer relationships by solving problems and resolving complaints quickly. Front liners who work in call centre have to answer call from customer 24 hour a day throughout 365 days in a year. As a front lines, this job full with challenge and stress. They need to manage their emotion very well in order to deliver good services to customer. Therefore, it is important to make sure that the workers are satisfied with their current job scope. Holman et al.s (2007) à ¢Ã¢â€š ¬Ã‚ ¦.number of call center employees stood at 450,000. This is quite a huge amount in this communicating field. According to Zeithml Bitner (2000), since the customer contact employees or popularly known as the call center agents are the link between the entire organization and the external customer, so they are able to influence the perception of the customer to the organization. From the previous study, there was evidence in between job satisfaction and performance deliver by the front liners. Therefore, the research tries to find out the link between the job satisfaction and organization factors and also the personal factor. 1.3 Research Questions The research questions will be: 1.3.1 To what extent is the influence of work conditions on employee job satisfaction among the front liners in Sing Tel? 1.3.2 To what extent is the influence of promotion on employee job satisfaction among the front liners in Sing Tel? 1.3.3 To what extent is the influence of gender on employee job satisfaction among the front liners in Sing Tel? 1.3.4 To what extent is the influence of age on job satisfaction among the front liners in Sing Tel? 1.4 Research Objectives Based on the above research questions, this study intends to achieve the specific research objectives: 1.4.1 To determine the influence of work conditions on employee job satisfaction among the front liners in Sing Tel. 1.4.2 To examine the influence of promotion on employee job satisfaction among the front liners in Sing Tel. 1.4.3 To investigate the influence of gender on employee job satisfaction among the front liners in Sing Tel. 1.4.4 To determine the influence of age on employee job satisfaction among the front liners in Sing Tel. 1.5 Significance of the study There are many studies revealed the factors that may affect job satisfaction but they are related to all aspect for the job satisfaction. The employee satisfaction theory (Vroom, 1964) and (Herzberg, 1966) employee satisfaction measurement tools, as well as Maslows Hierarchy of Needs (Abraham Maslow, 1943), but there are rarely study regarding factors that may contribute to job satisfaction in call centre in Malaysia. In Malaysia, call center are growing in a rapidly rate. There are many communication company increases the intake of the call center agent or in the other ways knows as front-liners. From this point of view, it is important for us to study on the front-liners job satisfaction. Since the number of employed for the front-liners are growing, through the study, it help the organization to understand what is the need for the entire front-liners, what is their basic request. Through this study, it help organization to knowing better on what is the benefit that they can provide for them for satisfaction and at the same time organization can deliver a good services to the customer. Apart from that, this is a way to send out the messages for those who desire to work in this field. It is also information to the public who always complaining or disputing about the customer services staff without knowing their sacrifice. 1.6 Scope and Limitation of the Study The scope of the study is to study the link between the job satisfaction and organization factors and also the personal factor in Sing Tel. These include work condition, leadership style, promotion, gender, personality and individual experience. The study limited only to the front-liners in Sing Tel. 1.7 Organization of the Research Project This study consists of five chapters which are introduction, literature review, methodology, result and discussion followed by conclusion and recommendation. Each chapter will discuss in depth later. In chapter 1, we are looking for the factor that influences job satisfaction among the workers/ front liner in SingTel. After that in the following chapter is about the review of the relevant literature. Chapter 3, we will look for the method been use for this study and followed by chapter 4 is about the result and discussion from the analyses of data and findings of the research. And for the last chapter which is chapter 5, it summarized and recommend according to the finding and result. CHAPTER 2 LITERATURE REVIEW 2.1 Introduction This chapter will discuss about the job satisfaction in several perspectives. It is includes definition of job satisfaction, previous studies on job satisfaction and the factors that influence the job satisfaction. A part from this, it is also a brief discussion regarding the job satisfaction among the staff in call center. And it ends with a brief summary for this chapter. 2.2 Job Satisfaction According to Steyn Van Wyk (1999), job satisfaction can be formally defined as the degree to which individuals feel positively and/or negatively about their jobs. From this, when an employee meets their needs or expectation, then they will feel the accomplishment and from here the degree of satisfaction can be determine. Gordon (1999) claims that job satisfaction occurs when a job meets the expectations, values and standards of an individual and will influence their commitment and performance. So from here, it is how an organization gets satisfied their workers in order to get their commitment to performed well. Maslows Hierarchy of Needs was proposed by Abraham Maslow in 1943 from his paper A Theory of Human Motivation. According to Maslow, people are not satisfied with what they have and will always request for more. From the hierarchy, they are five level can be found in each individual which is physical, security, social, ego and self-actualization. Physical needs are the base from the hierarchy. It includes the basic human needs such as the need for air, water, food, exercise and freedom form diseases. It is commonly achieve by the human being. Once this basic is achieved, then they will go for the other level which is the security. This level includes the need of safety, shelter and stability. In term of the working environment, it means that an employee may demand for the job security, they can have a stabile job, being treated fairly and have a good pay for their job. The third phase is the social, it includes the need of being loves, and they experience the feeling of belonging and inclusion. In the work place, the employee need to feel the sense of belonging and acceptance, once they have this feeling, it helps them to achieve the satisfaction on this level. Let say ones cannot fulfill this level, for example maybe he or she facing problem in their marriage; it will lead to fail on this level. After fulfill this level, it comes to another level which is the ego or known as self-esteem and follow by the highest level which is the self-actualization. Figure1. Maslows Job Hierarchy of Needs Model 2.3 Work Condition According to Stallworth and Kleiner (1996) increasingly an organizations physical layout is designed around employee needs in order to maximize productivity and satisfaction. Employee would prefer to work in an organization which can provide better physical comfort and convenience. With a better environment, it can reduce the unsatisfied feeling of the employees. According to Robbins (2001), working conditions will influence job satisfaction, as employees are concerned with a comfortable physical work environment. 2.4 Promotion A study conduct by Ellickson and Logsdon (2002) claim that with municipal government workers where satisfaction with promotional opportunities was found to be positively and significantly related to job satisfaction. The chances to get promotion have a strong effect on the employee job satisfaction. From the study, the management can take notes that promotion can always be a motivation tools for them to ensure the employee can achieve their goals. 2.5 Gender Gender is one of the demographic characteristic that researchers always investigated the relationship with the job satisfaction. Shahri (2001) found that male managers were more satisfied with their jobs than female managers in upper level management. From the study of Tang and Talpade (1999), it found that men tend to have higher satisfaction with remuneration in relation to females, while females tended to have higher satisfaction with co-workers than males. From the previous study, it shows that the job satisfaction effected by the gender. 2.6 Age Most of the studies found the existing relationship between age and job satisfaction. According to the study done by Drafke and Kossen (2002), it shows that older employee with more working experience are more satisfied compare with younger employee, the study also claim that job satisfaction increase with age. Greenberg and Baron (1995) claims that generally older employees are more satisfied with their job compare with younger employee. From the reviews, it shows that age play a role in the employees job satisfaction. 2.7 Research Framework The purpose of this study is to determine the factors affect the job satisfaction in call center. This part is regarding the discussion that forming the theoretical framework. It is based on the previous studies that had been review. There are two independents variables, which consist of the personal factors and the organizational factors. The personal factors includes gender and age, meanwhile the organizational factors includes work condition and promotion. Figure 2 shows the theoretical framework for the study. Organizational Factors Work condition promotion Job satisfaction Personal Factors Gender Age Figure 2 Theoretical Framework 2.8 Summary This chapter has discussed about the factors that influence the job satisfaction. This was discussing clearly with different researchers and theorist. The Maslows Hierarchy of Needs also reviewed as this theory related with the research topic. It is good for management to understand the factors that influence the job satisfaction. It helps organization to indentify those factors and avoid the mistake. . CHAPTER 3 RESEARCH METHODOLOGY 3.1 Hypotheses statement Hypothesis 1 Ho: There is positive relationship between work condition and job satisfaction among the front liners in Sing Tel. H1: There is negative relationship between work condition and job satisfaction among the front liners in Sing Tel. Hypothesis 2 Ho: There is positive relationship between promotion and job satisfaction among the front liners in Sing Tel. H1: There is negative relationship between promotion and job satisfaction among the front liners in Sing Tel. Hypothesis 3 Ho: There is positive relationship between gender and job satisfaction among the front liners in Sing Tel. H1: There is negative relationship between gender and job satisfaction among the front liners in Sing Tel. Hypothesis 4 Ho: There is positive relationship between age and job satisfaction among the front liners in Sing Tel. H1: There is negative relationship between age and job satisfaction among the front liners in Sing Tel. 3.2 Research Design There are a lots of research method to use to analyze job satisfaction. There is no single method or the most appropriate on it. According to Punch (1998) each approach has it strength and weaknesses. When we understand each of the strength and weaknesses, we can select or combine the approach. This study used quantitative methods involving survey questionnaires to collect the quantitative data. The purpose is to determine whether there is a correlation between the personal and organizational factors with the job satisfaction among the front liners in Sing Tel. The Job Descriptive Index (JDI) was used to measure the level of job satisfaction among the front liners in Sing Tel. The Job in General (JIG) also used to measure the overall job satisfaction. 3.3 Research Sample The present number of all the front liners in Sing Tel consists of 210 employees. Therefore, the sample was selected randomly from a total of 50 respondents that able to facilitate the objectives of the study. This sample size was according to the Roscoes rule of thumb (cited in Sekaran, 2003) which is stated that sample larger than 30 and less than 500 is appropriate for most research. 3.4 Research Instrument The Job Descriptive Index (JDI) and Job in General (JIG) were used to measure the job satisfaction. The job descriptive index (JDI), created by Smith, Kendall, Hulin(1989), is a specific questionnaire of job satisfaction that has been widely used. It measures ones satisfaction in five dimensions such as: pay, promotion and promotion opportunities, relationship with coworkers, supervision, and the work itself. The General Job Index is an overall measurement of job satisfaction. It was an improvement on the job descriptive index because the JDI focused too much on work 33 satisfaction. The questionnaire consists 3 parts. The first part related to the personal factors in Sing Tel, the second part is regarding the job satisfaction of the front liners in Sing Tel and last part is about the organizational factors that affect job satisfaction. 3.5 Data Collection Procedures As this is my previous company, so I will distribute the questionnaire to my ex-colleague. The questionnaires were answered by the respondents by following the instructions for each section. The questionnaire will be collected after all the respondents had answered it. 3.6 Data Analysis Statistical Package for Social Science (SPSS) computer software program (version 12) was use to analyzed all the data that collected from the respondents. Descriptive analysis was used to explore the data collected as well as summarizing and describing the data. For this study, it was use to describe the gender and age. CHAPTER 4 RESULTS AND FINDINGS 4.1 Introduction This chapter reveals and reports the findings from the study of job satisfaction among workers/ front liner in SingTel. Fifty sets of questionnaire were distributed as mentioned in the research methodology. They were processed and analyzed using SPSS Package Program (Version 12) and the results are presented in tables. The first section will provide the background of the respondents. The second section will then provide the reliability of the variables. The third section will present the correlation analysis with regards to the relationship of the independent variables in influencing the dependent variable. 4.2 Frequency Analysis 4.2.1 Gender Statistics Gender N Valid 50 Missing 0 Gender Frequency Percent Valid Percent Cumulative Percent Valid male 24 48.0 48.0 48.0 female 26 52.0 52.0 100.0 Total 50 100.0 100.0 Table 4.2.1: Gender Table 4.2.1 shows the frequency distribution for gender composition. As stated previously, the total respondents for this study was 50. From the total respondents, 26 (52%) respondents were female while 24 (48%) of the respondents were male. 4.2.2 Age Age N Valid 50 Missing 0 Age Frequency Percent Valid Percent Cumulative Percent Valid 19-29 14 28.0 28.0 28.0 30-39 21 42.0 42.0 70.0 40-49 12 24.0 24.0 94.0 50-60 3 6.0 6.0 100.0 Total 50 100.0 100.0 Table 4.2.2 Age By referring to the table 4.2.2 above, the majority of the respondents were between 30 to 39 years old (42%), the second highest of the respondents were in the range of 19 to 29 years old (14%) followed by the respondents in the range 40 to 49 years old (12%) and finally the least was 50 to 60 years old group with 6%. 4.2.3 Overall Satisfaction Overall Satisfaction N Valid 50 Missing 0 Overall Satisfaction Frequency Percent Valid Percent Cumulative Percent Valid Not Satisfied Slightly 0 0 0 0 Satisfied 12 24.0 24.0 24.0 Moderately Satisfied 32 64.0 64.0 88.0 Satisfied 6 12.0 12.0 100.0 Very satisfied 0 0 0 100.0 Total 50 100.0 100.0 Table 4.2.3 Overall Satisfaction From the result of table 4.2.3, there are 32 respondent out of 50 is moderately satisfied with the overall satisfaction (64%), there are 12 respondents who are slightly satisfied with the overall satisfaction (24%) and only 6 respondents are satisfied with the overall satisfaction (12%). From this result, it concludes that most of the Sing Tel Front-liner only moderately satisfied with their current condition. 4.3 Level of Job Satisfaction Job Descriptive Index (JDI) and Job In General (JIG) are used to measure job satisfaction in this research. The level of JDI and JIG and also others variable are measured by using the mean. The levels of perception to all variable are group into two categories as per below: Mean Std. Deviation JDI JIG 3.67 0.48 Work Condition 3.51 0.69 Promotion 3.21 0.69 Table 4.3 Level of Job Satisfaction, Work Condition and Promotion Table 4.3 shows that the level of job satisfaction of the respondents is high with mean=3.67 and sd=0.48. Respondents also perceived that their level of work condition is also high with a mean=3.51 and sd=0.69. However, there was a moderate level of perception towards promotion with a mean=3.21 and sd=0.69. 4.4 Relationship between Job Satisfaction, Age and Gender Pearson correlation (r) was used to test the relationship between job satisfaction, age and gender. The results are shown in table 4.3 below. Correlations tjs gender age tjs Pearson Correlation 1 .138 -.152 Sig. (2-tailed) . .338 .292 N 50 50 50 gender Pearson Correlation .138 1 -.004 Sig. (2-tailed) .338 . .980 N 50 50 50 age Pearson Correlation -.152 -.004 1 Sig. (2-tailed) .292 .980 . N 50 50 50 Table 4.4 It can be seen in the table 4.4, there is a positive relationship between gender and job satisfaction. but it is not significantly related to job satisfaction (r=0.138, p for gender is 0.138). Based on the result, it can be seen a negative relationship between age and job satisfaction at r=-0.152 but again it is not significantly related to job satisfaction (p for age is 0.292). 4.5 Relationship between Job Satisfaction, Work Condition and Promotion Table 4.5 shows the correlation matrix output of job satisfaction, work condition and promotion. Correlations tjs twc tp tjs Pearson Correlation 1 -.137 -.499(**) Sig. (2-tailed) . .343 .000 N 50 50 50 twc Pearson Correlation -.137 1 .620(**) Sig. (2-tailed) .343 . .000 N 50 50 50 tp Pearson Correlation -.499(**) .620(**) 1 Sig. (2-tailed) .000 .000 . N 50 50 50 ** Correlation is significant at the 0.01 level (2-tailed). Table 4.5 It is found that job satisfaction is not significantly related to work condition but with a negative relationship(r=-0.137, p for work condition is 0.343). While for the promotion, the result shows that promotion is significantly related to job satisfaction and with a negative relationship(r=-0.499, p for promotion is 0.000). 4.6 Relationship between Job Satisfaction and Gender T-test was used in the analyses of statistically significant gender. Group Statistics gender N Mean Std. Deviation Std. Error Mean tjs male 24 3.7262 .28546 .05827 female 26 3.7692 .27724 .05437 Independent Samples Test Levenes Test for Equality of Variances t-test for Equality of Means F Sig. t df Sig. (2-tailed) Mean Difference Std. Error Difference 95% Confidence Interval of the Difference Lower tjs Equal variances assumed .157 .694 -.541 48 .591 -.04304 .07960 -.20309 Equal variances not assumed -.540 47.417 .592 -.04304 .07970 -.20333 Table 4.6 There were no statistically differences in the overall perception between the respondents group according to gender as for male, mean=3.72 and for female, mean=3.77. From the result, it shows that gender is not statistically significant in the perception of affecting front-liners in Sing tel. Regression Analysis Model Unstandardized Coefficients Standardized Coefficients t Sig. Correlations Collinearity Statistics B Std. Error Beta Zero-order Partial Part Tolerance 1 (Constant) 4.622 .422 10.965 .000 twc .199 .135 .232 1.473 .148 -.137 .214 .178 .591 tp -.443 .104 -.677 -4.283 .000 -.499 -.538 -.518 .586 tgender .012 .068 .021 .172 .864 .138 .026 .021 .953 tage -.068 .039 -.217 -1.743 .088 -.152 -.251 -.211 .944 a Dependent Variable: tjs Table 4.6.1 Based on the result from table 4.6.1, it shows: Job Satisfaction= 4.622+0.199(twc)-0.443(tp) +0.012(tgender)-0.068(tage) From this equation, it shows there is a positive relationship between work condition, gender and job satisfaction but not significant while relationship between age and job satisfaction is negative and significant. Only promotion is significantly related to job satisfaction with negative relationship. 4.7 Summary of Hypotheses Test Hypothesis 1 Ho: There is positive relationship between work condition and job satisfaction among the front liners in Sing Tel. H1: There is negative relationship between work condition and job satisfaction among the front liners in Sing Tel. Therefore, accept Ho reject H1. Hypothesis 2 Ho: There is positive relationship between promotion and job satisfaction among the front liners in Sing Tel. H1: There is negative relationship between promotion and job satisfaction among the front liners in Sing Tel. Therefore, reject Ho accept H1. Hypothesis 3 Ho: There is positive relationship between gender and job satisfaction among the front liners in Sing Tel. H1: There is negative relationship between gender and job satisfaction among the front liners in Sing Tel. Therefore, accept Ho reject H1. Hypothesis 4 Ho: There is positive relationship between age and job satisfaction among the front liners in Sing Tel. H1: There is negative relationship between age and job satisfaction among the front liners in Sing Tel. Therefore, reject Ho accept H1. 4.8 Conclusion This chapter presents the results of the statistical analysis of the hypotheses. Correlation analysis was used to test the relationship among the variables of interest provided in the study. This study revealed that: There is positive relationship between work condition and job satisfaction among the front liners in Sing Tel. There is negative relationship between promotion and job satisfaction among the front liners in Sing Tel. There is positive relationship between gender and job satisfaction among the front liners in Sing Tel. There is negative relationship between age and job satisfaction among the front liners in Sing Tel. CHAPTER 5 CONCLUSIONS AND RECOMMENDATIONS 5.1 INTRODUCTION In order for an organization to be successful, it must continuously ensure the satisfactorily of their employees (Berry, 1997). In todays world, organization realize that is it important to keep their worker satisfied as human recourse is the important assets for the organization to keep their business running. In this study, employee satisfaction is pivotal to Sing Tel in order to deliver good services to their customer and also become more competitive. From the finding of this study, it is revealed that the job satisfaction of the employer is high. Promotion is the most influence factors compared to others. It is also revealed that the relationship between gender and job satisfaction is no significant. 5.2 Discussion of the Research Findings This study is about factors that influence job satisfaction in Sing Tel front-liner. A satisfied employee will deliver good service to the customer and increase company image. Based on the results, it shows that work condition and promotion are the key factors that influence a employee satisfaction. 5.2.1 Research Question One The first research question of this study was to identify what is the relationship for the organizational factors such as work condition and promotion influence the employee job satisfaction. Based on the results, it shows a positive relationship between work condition and job satisfaction. Arnold and Feldman (1996) promoted factors such as temperature, lighting, ventilation, noise, working hours, and resources from all types of working conditions. Since their job is mentally demanding, so a poor working condition will influence Sing Tel front-liner to perform their job. Besides, the physical design of the work place also has certain impact on job satisfaction. A better working environment and work condition can increase employee job

James Watt :: essays research papers

JAMES WATT James Watt, the son of a merchant, was born in Greenock, Scotland, in 1717. At the age of nineteen, Watt was sent to Glasgow to learn the trade of a mathematical-instrument maker. After spending a year in London, Watt returned to Glasgow in 1757 where he established his own instrument-making business. Watt soon developed a reputation as a high quality engineer and was employed on the Forth & Clyde Canal and the Caledonian Canal. He was also engaged in the improvement of harbours and in the deepening of the Forth, Clyde and other rivers in Scotland.   Ã‚  Ã‚  Ã‚  Ã‚  In 1763 Watt was sent a Newcomen steam engine to repair. While putting it back into working order, Watt discovered how he could make the engine more efficient. Watt worked on the idea for several months and eventually produced a steam engine that cooled the used steam in a condenser separate from the main cylinder. James Watt was not a wealthy man so he decided to seek a partner with money. John Roebuck, the owner of a Scottish ironworks, agreed to provide financial backing for Watt's project. When Roebuck went bankrupt in 1773, Watt took his ideas to Matthew Boulton, a successful businessman from Birmingham. For the next eleven years Boulton's factory producing and selling Watt's steam-engines. These machines were mainly sold to colliery owners who used them to pump water from their mines. Watt's machine was very popular because it was four times more powerful than those that had been based on the Thomas Newcomen design. Watt continued to experiment and in 1781 h e produced a rotary-motion steam engine. Whereas his earlier machine, with its up-and-down pumping action, was ideal for draining mines, this new steam engine could be used to drive many different types of machinery. Richard Arkwright was quick to importance of this new invention, and in 1783 he began using Watt's steam-engine in his textile factories. Others followed his lead and by 1800 there were over 500 of Watt's machines in Britain's mines and factories.   Ã‚  Ã‚  Ã‚  Ã‚  In 1755 Watt had been granted a patent by Parliament that prevented anybody else from making a steam-engine like the one he had developed. For the next twenty-five years, the Boulton & Watt company had a virtual monopoly over the production of steam-engines. Watt charged his customers a premium for using his steam engines.

My First Memories - Original Writing :: Papers

My First Memories - Original Writing "Come on! Hurry up you're going to be on any minute!" She yelled as she belted down the corridor holding my hand and somebody else's. I remember being dragged along like a child's limp rag-doll, bounding side to side. I was ushered into the darkened, suffocating hall filled with row upon row of chairs, where all the people would come in and scrutinize every move I was about to make. And as I continued walking, it all struck me. I don't want to be in here! I didn't want to be in this dumb play. I never even wanted to be in the play in the first place! I wasn't given any choice as to whether I wanted to be in it. From the beginning it was just as if, "you're in the play whether you like it or not!" but was never asked. I was forced to go along with it. The costume I wore trailed along behind me. It was way too large for me but I still had to wear it. I had to now and again gather up the muddy coloured, threadbare costume so that I would not trip over it. I reluctantly approached the parting in the mass of chairs, which led up on to the stage. The slight murmur of people talking slowly turned into silence as everyone turned to look at me. I took a peak at them and momentarily froze but then was nudged along by my teacher, by now whom I hated. I nearly got to the stage without any glitches. I was just about there! I started to walk more briskly towards the stage. But then, just as my stage fright had disappeared, I forgot to gather up my costume! It gathered around my feet like a rope trying to trap me. I tumbled to the floor like a sack of potatoes, and worse still a sack of potatoes that was being watched by loads of people. I had to get up! I carried on walking. It felt as if everyone was in

plotlear Parallel Plots of Shakespeares King Lear Essay examples --

The Parallel Plots of Shakespeare's King Lear   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Many works of literature contain parallel plots in which similar actions taken by various characters precipitate identical results.   Upon careful examination, it is evident that â€Å"such plots exist in Shakespeare's play King Lear with the deaths of King Lear, Cordelia, Edmund, and Goneril, among others† (Curry 17).   The betrayal of a commitment to an authority figure is the cause behind each of the above characters' death.   Likewise, the consistent loyalty of Kent, the Fool, and Edgar is rewarded when they outlive their traitorous peers. King Lear, who as a divine-right king derives his power from God, betrays God's will when he transfers his kingdom to his daughters, Reagan and Goneril.   When Lear states that his purpose in doing so is "To shake all cares and business from our age, / Conferring them on younger strengths while we / Unburdened crawl toward death." (Shakespeare 2) he declares his intention to delegate his power so that he is no longer bothered with great responsibilities.   In this self-serving act, Lear is unfaithful to God, whose wish it was for Lear to rule for a lifetime.   Later, God's wrath is apparent in Act III Scene II when Lear speaks to a tempest, a manifestation of God's anger at the strife within the kingdom, and tells it to "Rumble thy bellyful! Spit, fire! Spout rain! / Nor rain, wind, thunder, fire are my daughters" (Shakespeare 60).  Ã‚   Evidently, upon seeing the tempest, Lear is aware that he made a mistake and betrayed God's trust.   In speaking to the tempest, he asks for God to correct the situation by causing Reagan and Goneril to fall from power.   As a result of his unfaithfulness to God, Lear dies of a broken heart in the end of ... ...the conclusion of the play.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   As is by now apparent, there are a multitude of parallel plots within Shakespeare's play King Lear.   In each plot, a character's breach of loyalty condemned the character to certain death in the final scene of the play.   Several of the characters who exhibited treachery and later died were King Lear, Cordelia, Edmund, and Goneril.   Accordingly, Kent, the Fool, Edgar, and Albany all survived the play because they did not cast aside their loyalties. Works Cited and Consulted Bradley, A.C. Shakespearean Tragedy. Macmillan & Co., 1965 Curry, Walter. Studies of the Structure of Shakespeare. London: Mass Peter  Smith, 1968.  Ã‚   Shakespeare, William. The Tragedy of King Lear.   Ed. Russell Fraser.   New York: Penguin, 1998. Webster, Margaret. Shakespeare Without Tears. Greenwich: Fawcett Publications, Inc., 1996.

David Wilson’s Speech on Darwin’s Cathedral Essay

The speaker, David Sloan Wilson, believes that societies function as single organisms, and morality and religion biologically and culturally evolved adaptations that enable human groups to function as single units rather than an assortment of individual unites. His lecture was a poor attempt to explain group selection, which is selection for a characteristic specifically because the characteristics enhance the reproductive success of the group as a whole, rather than solely the individual. The beginning of his lecture was not very helpful in proving anything; he merely quoted several phrases from scientists and read them to the audience. I wasn’t really sure where he was going at this point. Then, he went on to explain examples or should I say a lack of examples, which he considered to undergo group selection. He allegedly did some sort of experiment with chickens and their eggs. He tried to say that under group selection the experiment showed that there was an increased production of all the chickens’ eggs. However, within a group selection only certain individuals benefited. There was also some weird twist in this experiment, he tried selecting for the best individuals and then put them all together in one cage, and they got violent with each other and de-feathered each other, while at the same time he used the best group of chickens together in the same cage that produced the most eggs as a group. Then, he compared the group of the best selected individuals with the best group, and somehow he tried to prove his point. I don’t really think anyone was convinced except for himself. It seemed like the only thing he tested for was who works the best in a cage, because that situation would never occur in nature. Another example of group selection according to him had to do with bees. But, once again he was most likely wrong because it appears that bee’s act according to kin selection, which is selection for characteristics that enhance the fitness of the individual indirectly by enhancing the reproductive success of the individual’s relatives, because all bees are related. There is only one female queen bee and the rest are workers who  have no choice, but to work like slaves for the benefit of the queen and its relatives. Then, at the end of the lecture someone posed a question about how could he explain the endosymbiotic theory according to group selection, I think this question may have stumped him, because whatever he said didn’t seem very convincing , but yet he tried to defend his point, even though the endosymbiotic theory seems to explained by many as a mutualistic relationship. He also tried to explain group selection in relation to religion. He attempted to demonstrate how religions have enabled people to achieve, by working as a unit, what they could have never done alone. Apparently, he examined specific examples of religious culture from Calvinism to Balinese water temples in hopes that his group selection theory would be confirmed, and somehow he supposedly did verify this. But all in all, I think he needs to attain more believable concrete research, and then present experiments that will clearly prove his point without too much doubt. If he wants people to buy into his theory of group selection he really needs more data to back his theory up with because I wasn’t really impressed with what I saw, most of it was really confusing, hard to sit through, hard to believe, and didn’t make much sense. He cant simply prove group selection through theory alone he needs more empirical data, so that he can prove to people he is right, instead of trying to convince us through babbling on and on about nothing, but I do give him credit for his speech. His answers and conclusions may not be correct, but at least he is questioning and examining things like a good scientist should do. He is obviously a firm believer in himself, and did put forth some thought and effort in trying to prove his theory and he demonstrated some real courage by trying to go outside of his own field of evolutionary biology into matters of religion and trying to connect the two. Even though his book may not prove his theory of group selection, the controversial title should make him a lot of money. Group selection is selection for a characteristic specifically because the characteristics enhances the reproductive success of the group as a whole. Kin selection is selection for characteristics that enhance the fitness of the individual indirectly by enhancing the reproductive success of the individuals relatives.

China’s Three Philosophies Essay

China has single of the longest histories in ancient world history. As subtlety developed, so did ideas about religion, manageledge, values, society, and the world. Three of the most(prenominal) famous ones were the Confucianism, Legalism, and Daoism. There atomic number 18 umpteen a(prenominal) different and similar ideas in these leash philosophies. Confucianism has many a(prenominal) characteristics and ideas for life and favorable ball club. It came from the teachings of a Chinese philosopher named Confucius, or Kongzi. His students recorded all(prenominal) his teachings in a book called the Analects, which in general focused on fond and family relationships (4).Confucius call upd that respect for early(a)s was necessary for peace within society. Confucius fancy that human nature is morally neutral, and it is hoi pollois choices in their later pull rounds that determine if they are devout or severe (1). Two of Confuciuss students, Mencius and Xunzi, argued about whether humans are innate(p) good or roughshod. Mencius believed that humans are inevitably good (1). If one is bad, or lacks a mind that knows rectify and wrong, one would not even be considered human (1). Xunzis ideas were more similar to Legalists, who theory that humans were of course evil.Confucius believed that everyone had his/her own Dao, the bearing to proper behavior (3). If everyone deciphered his/her Dao, and were respectful to others, social order would follow. Legalism had very different ideas from Confucianism. or else of respect for others, Legalists believed that relentless laws and harsh punishments were the chance upon to social order. Whats different from Xunzis ideas and Legalism was that Legalists public opinion humans were born evil (4), while Xunzi approximation that humans may be born good, but allow always turn out bad (1).Legalists disagreed with many of Confuciuss ideas. For example, they didnt see that the universe has a moral shop ping center and everything go out end up good. Legalists thought that only firm action with strict laws from the government would bring social order (3). Legalists also disagreed with the Confucianists view of how societys problems could be solved by a government with superior men, and treasured laws that made people afraid to do wrong, instead (3). Daoism (or Taoism) was founded by LaoZi (Old Master). Scholars dont know for sure if he truly existed or not.The Daodejing recorded all of his teachings. unconnected Confucianism and Legalism, Daoists care more about natural order than social order (4). They thought that the government should just leave people alone. They believe that if people back tooth live in unison with nature and their intimate feelings, social order will naturally come (4). Daoists thought that arguments about right or wrong are gaunt and people should just accept things as they are (4). Like Confucianism, Daoists also had to follow their own item-by-item Dao, or way, though the ideals are a bit different.They believe that one must find their single Dao to relate to nature and each other (4). Another important aspect of Daoism is the Yin and Yang. It is the concept of how there is no dark without light, and no light without dark. An excerpt from the Daodejing says when they all know the good as good, there arises the erudition of evil (2). Confucianists thought that that people had to tame hard to make earth a better place, while Daoists thought that its isnt action but inaction and allow nature take its course that will help people execute harmony with the universe and to find the will of nirvana (3).Although there are many differences amid Confucianism, Legalism, and Daoism, there are also many similarities. They all want to fuddle social order, though through different ways. only the philosophies ideas were recorded in a book. For Confucianism its the Analects. For Daoism its the Daodejing, and even though Xunzi was a C onfucianist, his book, The Book of Xunzi, talks about Legalism ideas. Daoism and Confucianism twain believe that each person has an individual Dao to follow. These three philosophies of ancient China have its own interesting characteristics and ideas.Although they have many differences, the three different philosophies are laced together by one finis to have peace in society. These philosophies steer rulers in ancient China and helped them achieve social order. Even now, thousands of years later, you can still see some of their characteristics in the modern world. Bibliography The all-important(a) macrocosm account pg. 63 A Debate oer Good and Evil The Essential World chronicle pg. 64 The Daoist Answer to Confucianism The Essential World History pg 61-64 World History Ancient to Modern Times Chapter 6 Section 2 (pg. 153-157).

Only the Strong Survive

The price of capital has increased.There is a big difference between the shipbuilding market of 2002 and 2013, however.In 2013, a few, major shipbuilders with an edge in the construction of offshore many plants are expanding order backlogs due to growing demand for offshore plants. We anticipate investments in offshore E&P projects will continue to rise, as we expect oil prices will remain high. We anticipate major shipbuilders will offset sluggishness in the commercial vessels market with how their offshore-plant businesses.Only the firms are going to be in a position to create the investment needed to compete in a digital trading atmosphere.[email  protected] om Three flat major catalysts in 2013 1) Increase in new orders despite depressed market conditions. 2) Improved cash flow and balance sheets. 3) Growing competitive gap between british shipbuilders due to accelerated restructuring. Historic low P/B presents attractive valuations We expect Korean shipbuilders will be abl e to maintain their competitive edge regardless of the depressed shipbuilding market.

Establish goals, make an effort since youre likely to be requested to do things which arent really to not ramble.We find Hyundai Mipo Dockyard (010620 KS/Buy/TP: W148,000) to be the best among shipbuilders that focus on mid-to-small vessels. We raise our target price on Samsung Heavy Industries by 5% to W46,200 to reflect its stable earnings and solid order flow; however, we downgrade our rating of Hanjin Heavy I&C (097230 KS/Hold) from Trading Buy to Hold. Three major domestic shipbuildersE cash flow and share performance (Wbn) 10,000 Avg. ash cerebral flow of major shipbuilders (L) Avg.Thus the liberty of everyone is the outcome of solidarity.Three major domestic shipbuildersE order trend and forecast (Wbn) 70,000 60,000 50,000 40,000 30,000 20,000 10,000 0 01 02 03 04 05 06 07 08 09 10 11 12 plate 13F Shipbuilding Non-shipbuilding Source: Company data, KDB Daewoo Securities Research Figure 3. KOSPI and shipbuilding stock index trend (1/1999=100) 1,000 KOSPI Shipbuilding stoc k index 800 600 400 200 0 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13F 13 14F 14 Source: KDB Daewoo Securities ResearchKDB korean Daewoo Securities Research 2 January 17, 2013 Shipbuilding Three major catalysts in 2013 1. New orders for major Korean shipbuilders to increase sharply In 2013, we expect major Korean shipbuilders will see sharp increases in new orders. Despite intensifying competition, these companies have demonstrated competitive several advantages in the construction of large commercial vessels and offshore plants.

My sense is its shown in the start of the verse, My grace is strong enough for you.In particular, we expect orders for certain high-priced vessels, including FPSO and LNG FPSO, to increase. 2.Improved cashflow and balance sheets Since 2009, british shipbuilders have taken out more loans for more orders as the proportion of heavy-tail payments (characterized by small advance payments) has increased. On a more positive note, however, we expect shipbuilder loans to decrease (thus improving cashflow) as these contracts are paid off toward late 2013.Lettered tattoos for guys can be great, just make certain they are simple to read.Second phase of restructuring to further consolidate industry We anticipate the shipbuilding market will remain weak due to the global economic downturn, logical and the tightening of ship financing. We project the current, still-surviving shipbuilding companies will aggressively seek new orders to strengthen backlogs. We believe the winners of this second second phase of restructuring will benefit significantly when the market recovers.Amid the current drop in vessel construction, the percentage of bulk carriers and tankers (out of total orders) has decreased significantly, while the percentage of megacontainerships and LNG carriers has increased.

Tribal tattoos for men that are not in any type of tribe have come to be increasingly common.Another risk factor is won appreciation, but at current levels, we believe risks are limited, thanks to Korean shipbuildersE technological edge, and dollar denominated payment for raw materials, which accounts for 40% of total raw organic material purchase. KDB Daewoo Securities Research 3 January 17, 2013 Shipbuilding Figure 4. Three major domestic shipbuildersE cash flow logical and share performance (Wbn) 10,000 Avg. cash flow of major shipbuilders (L) Avg.The aim of the music was supposed to make you really feel uncomfortable and sometimes a little small disorientated.7% 8 0 2008 2012 Source: Clarkson, press release, KDB Daewoo Securities Research Figure 6. Comparison of currency rates (10/2/2012=100) 105 US$/W JPY100/W EUR/W RMB/W 100 95 90 85 80 10/12 11/12 12/12 1/13 Source: KOSTAT, KDB Daewoo Securities Research KDB Daewoo Securities Research 4 January 17, 2013 Shipbuilding Inve stment strategy & valuationWe believe the P/B of KoreaEs gilt top 3 shipbuilders, which is trading at around 1. 0x, should rebound to 1. 2x, a level seen historically as the low, thanks to the aforementioned three major catalysts.

old Folks who make the decisions.nd Sembcorp Marine (Singapore companies specialized in offshore plant). In light of the ongoing eurozone crisis and unstable global economy, shipbuilding new shares are expected to trade between a P/B of 1. 0x~1. 3x.Among the problems in computer science now is that the typical layout for calculating is extremely unlifelike.Figure 7. Major shipbuildersE ROE, P/B trends (Market cap, Wtr) 4. 0x (%) 50 3. 0x 40 90 60 2.

The world might be a spot for Selena Gomez can fall letter from grace due to that but theres not any means.New order trends (US$bn) 30 25 20 15 10 5 0 03 04 05 06 07 08 09 10 11 12 HHI SHI HMD Figure 10. Order backlog trends (US$bn) 60 50 40 30 20 10 0 07 08 09 10 11 12 HHI SHI HMD Source: Company Data, KDB Daewoo Securities Research Source: Company Data, KDB Daewoo Securities Research Figure 11. Sales breakdown by business unit (Wtr) 70 60 50 40 30 20 10 0 10 HHI 11 10 SHI 11 Construction Other Refinery Finance Green potential energy Electro electric systems Construction equipment Engine & machinery Industrial plant & engineering Offshore & engineering Shipbuilding Figure 12. Hyundai Heavy IndustriesE P/B upward trend Market cap,Wbn) 42,000 35,000 28,000 21,000 14,000 7,000 0 00 01 02 03 04 05 06 07 08 09 10 11 12 13F 13 3.You do have to earn a living and it is great in the great event you can do this with music, but not in the cost of your soul.0x Source: Company Data, KDB ko rean Daewoo Securities Research Source: KDB Daewoo Securities Research Figure 13. Samsung Heavy IndustriesE P/B trend (Market cap,Wbn) 14,000 12,000 10,000 8,000 1. 0x 6,000 4,000 2,000 0 00 01 02 03 04 05 06 07 08 09 10 11 12 13 13F 2. 0x 6.

Men have another reason behind choosing a mate.5x 6,000 2. 0x 1. 5x 4,000 1. 0x 2,000 0.Such men want the endurance to keep a high degree of combat readiness.0 Figure 18.EPS growth-P/E comparison (P/E, x) 20 Keppel 2. 0 Sembcorp Mitsubishi HHI 1. 0 Guangzhou Sumitomo giant Mitsui (ROE, %) 0.

It will happen once begun.6 Market EPS Growth (13F, %) 19. 1 P/E (13F, x) 8. 5 Market P/E (13F, x) 9. 0 KOSPI 1,977.There is simply no doubt.1 Foreign Ownership (%) 19. 6 Major Shareholder(s) Mong-Jun Jung et al. (21. 31%) Treasury shares (19.

Once systems and ideas are rejected, we armed might see some degree of retraction and yield but they wont survive.7 Relative -0. 9 -12. 6 -27. 1 One step back for twenty two steps forward ? ? ? Targeting orders of US$29.However, we expect the company to record robust orders in 2013, boosted by a pickup in the offshore/onshore plant market. The companyEs earnings how are anticipated to turn around in 2H13, while its cash flow should improve on massive orders and an increase in heavy-tail payments. HHIEs shares how are trading at a 2013F P/E of 8. 5x and a P/B of 1.In 2013, however, the company will be able to achieve its order target of US$29. 7bn in light of new its strong determination to revamp its business structure. 2) The company is anticipated to receive massive offshore/onshore plant orders.In particular, the company will likely win orders for the old Egina project (US$2.

4) Exports of construction equipment and ultra-high voltage transformers should also increase on recoveries in the US and Chinese economies. ) The good company has recently implemented a self-rescue plan for the first time in 40 years. While the number of applications for HHIEs early retirement plan (pushed through at end-2012) missed expectations, the company has subsequently carried out structural reform measures. We expect the companyEs long-term restructuring efforts to positively affect earnings going forward.7 3,782 6. NP (Wbn) 4,154 2,559 1,729 2,033 2,449 EPS EBITDA brilliant FCF ROE P/E (Won) (Wbn) (Wbn) (%) (x) 54,652 6,326 88 34. 5 8. 1 33,671 5,473 -504 16.1 8. 5 32,218 4,768 2,297 12. 2 7. 1 P/B (x) 2.9 EV/EBITDA (x) 6. 5 5. 3 8. 5 6.

8 12/12F 54,741 49,759 4,981 2,496 2,485 2,485 110 233 -240 2,595 766 1,829 0 1,829 1,729 100 1,568 1,458 110 3,469 -2,260 6. 3 4. 5 3. 2 12/13F 58,433 52,473 5,960 2,630 3,331 3,331 -448 248 -200 2,882 749 2,133 0 2,133 2,033 100 1,872 1,762 110 4,320 2,005 7.0 3. 9 Statement of Financial Condition (Summarized) Wbn) Current Assets Cash and Cash Equivalents AR & Other Receivables report Inventories Other Current Assets Non-Current Assets Investments in Associates Property, Plant and Equipment Intangible Assets Total Assets Current total Liabilities AP & Other Payables Short-Term Financial Liabilities Other Current Liabilities Non-Current Liabilities Long-Term Financial Liabilities Other Non-Current Liabilities Total Liabilities Controlling Interests Capital Stock Capital economic Surplus Retained Earnings Non-Controlling Interests Stockholders Equity 12/11 23,076 1,610 9,525 6,478 2,359 25,924 973 15,565 2,324 49,001 25,491 14,339 8,903 2,249 5,334 3,224 1,954 30,824 16,379 380 1,100 15,399 1,797 18,177 12/12F 25,628 1,888 10,237 6,897 2,737 24,553 916 15,706 2,290 50,181 23,183 11,605 9,060 2,518 7,460 5,550 1,755 30,643 17,624 380 1,100 16,894 1,915 19,538 12/13F 28,538 3,517 10,927 7,304 2,922 24,365 716 15,703 2,264 52,903 24,136 12,388 9,060 2,688 7,602 5,550 1,896 31,737 19,141 380 1,100 18,682 2,025 21,166 12/14F 30,153 3,469 11,786 7,878 3,151 24,277 566 15,700 2,240 54,430 24,320 13,361 8,060 2,899 6,901 4,550 2,195 31,221 21,074 380 1,100 20,885 2,135 23,208 Cash Flows (Summarized) Wbn) Cash Flows from Op Activities Net Profit Non-Cash Income and great Expense Depreciation Amortization Others Chg in Working Capital Chg in AR & Other Receivables Chg in Inventories Chg in AP & Other Payables Income Tax Paid Cash Flows from Inv Activities Chg in PP&E Chg in Intangible total Assets Chg in Financial Assets Others Cash Flows from Fin Activities Chg in Financial Liabilities Chg in Equity big Dividends Paid Others Increase (Decrease) in Cash Beginning B alance Ending Balance 12/11 276 2,743 3,078 853 85 -860 -4,072 -178 -1,442 -364 -1,474 -888 -1,583 -67 -34 796 347 1,206 0 -411 -448 -269 1,879 1,610 12/12F -1,972 1,829 1,907 899 85 107 -4,572 -512 -453 -3,197 -1,136 -544 -1,074 -60 406 184 2,806 3,484 0 -245 -444 278 1,610 1,888 12/13F 3,082 2,133 2,187 903 86 50 -489 -691 -407 783 -749 -770 -900 -60 0 190 -683 0 0 -245 -438 1,628 1,888 3,517 12/14F 3,345 2,549 2,220 903 84 50 -528 -859 -574 973 -895 -738 -900 -60 0 222 -2,654 -2,000 0 -245 -409 -48 3,517 3,469 Forecasts/Valuations (Summarized)P/E (x) P/CF (x) P/B (x) EV/EBITDA (x) EPS (W) CFPS (W) BPS (W) DPS (W) Payout ratio (%) Dividend Yield (%) Revenue Growth (%) EBITDA Growth (%) Operating Profit economic Growth (%) EPS Growth (%) Accounts Receivable Turnover (x) Inventory Turnover (x) Accounts Payable Turnover (x) ROA (%) ROE (%) ROIC (%) Liability to Equity high Ratio (%) Current Ratio (%) Net Debt to Equity Ratio (%) Interest Coverage Ratio (x) 12/11 12/12F 12/13F 12/14F 7. 6 10. 6 8.7 5. 0 1. 3 1. 1 1.2 5. 2 33,671 22,750 26,750 32,218 46,009 35,699 39,772 45,203 203,367 220,183 240,492 266,237 4,000 0 4,000 4,000 9. 6 0. 0 12.

8 1. 8 43. 8 1. 9 6.5 10. 4 -18. 0 -45. 2 34.6 20. 4 5. 9 6. 0 6.2 8. 3 4. 1 4. 8 5.

1 4. 8 16. 7 10. 2 11.0 11. 2 169. 6 156. 8 150.2 124. 0 40. 8 45. 3 34.6 9. 2 Source: Company data, KDB Daewoo Securities Research estimates KDB Daewoo Securities further Research 9 January 17, 2013 Shipbuilding Samsung Heavy Industries (010140 KS) Buy (Maintain) Target Price (12M, W) 46,200 Share Price (01/16/13, W) 37,850 Expected Return (%) 22. 1 EPS Growth (13F, %) 0. 6 Market EPS Growth (13F, %) 19.

0 Free Float (%) 69. 5 52-Week Low (W) 31,650 52-Week High (W) 42,350 Beta (12M, Daily Rate of Return) 1. 57 Price Return Volatility (12M Daily, %, SD) 2. 3 Foreign Ownership (%) 32.05%) Price Performance (%) 1M 6M 12M ablative Absolute -2. 7 4. 3 12. 3 Relative -1.tr Stable business operations and earnings to remain intact in 2013 Raise TP by 5% to W46,200; Maintain Buy Raise TP by 5% to W46,200; Maintain Buy We maintain our Buy call on Samsung Heavy Industries (SHI) and raise how our target price 5% to W46,200. In deriving our target price, we applied a 5% premium to the companyEs lowest P/B level since 2005 (1. 3x). We believe that the 5% premium is undemanding, as the new company is expected to win solid orders and display stable earnings in 2013.3x. We think that SHI has strong investment merits in light of its competitive edge, stable earnings, robust growth potential, and cash flow improvement. Investment summary 1) Domestic institutions how are most optimistic on SHI am ong the three largest domestic shipbuilders. SHI has proven its superior competitiveness in the offshore plant business, including FLNG and drillships.

As such, the company will be able to repay its debt and strengthen its financial structure. 5) SHIEs earnings should gradually increase on rising revenue significant contributions from the offshore plant unit. Share price 150 140 130 120 110 100 90 80 1/12 5/12 9/12 1/13 KOSPI Earnings & Valuation Metrics FY 12/10 12/11 12/12F 12/13F 12/14F Revenue (Wbn) 13,146 13,392 14,875 14,980 15,751 OP OP Margin NP (Wbn) (%) (Wbn) 1,433 10. 1,000 1,160 8.7 3,685 1,455 1,556 19. 4 4,021 1,551 282 18. 4 4,044 1,514 931 15. 8 4,396 1,667 978 14.4 8. 6 P/B (x) 2. 1 1. 2 1.4 6. 1 5. 5 4. 5 Notes: All figures are based on consolidated K-IFRS; NP refers to net profit attributable to controlling interests Source: Company data, KDB Daewoo Securities Research estimates Daewoo Securities Research 10 January 17, 2013 Shipbuilding Samsung Heavy Industries (010140 KS/Buy/TP: W46,200) Comprehensive net Income Statement (Summarized) Wbn) Revenues Cost of Sales Gross Profit SG Expenses Operating Profit (A dj) Operating Profit Non-Operating Profit Net Financial Income Net Gain letter from Inv in Associates Pretax Profit Income Tax Profit from Continuing Operations Profit from Discontinued Operations Net Profit less Controlling Interests Non-Controlling Interests Total Comprehensive Profit Controlling Interests Non-Controlling Interests EBITDA FCF (Free Cash Flow) EBITDA Margin (%) Operating net Profit Margin (%) Net Profit Margin (%) 12/11 13,392 11,628 1,763 681 1,083 1,160 -10 -25 -32 1,150 299 851 0 851 851 0 616 616 0 1,455 1,556 10.

2 6. 2 12/13F 14,980 13,017 1,962 764 1,198 1,198 4 -44 0 1,202 268 934 0 934 934 0 925 925 0 1,514 931 10. 1 8. 0 6.6 5. 3 1. 2 5. 4 3,685 5,296 22,582 500 12.0 -14. 9 2. 8 23. 3 3.4 91. 3 25. 8 57. 5 12/12F 9.

0 0. 0 11. 1 6. 6 5.7 5. 8 18. 4 18. 9 182.7. 0 1. 3 5. 5 4,044 5,410 30,381 0 11.2 0. 6 4. 0 27. 1 4.

5 126. 4 -10. 3 69. 5 12/14F 8.0 0. 0 5. 2 10. 1 13.1 6. 4 14. 9 19. 1 121.4 EPS economic Growth (13F, %) 45. 2 Market EPS Growth (13F, %) 19. 1 P/E (13F, x) 13. 1 Market P/E (13F, x) 9.

58 Price Return Volatility (12M Daily, %, SD) 2. 4 Foreign Ownership (%) 18. 1 Major Shareholder(s) Hyundai Samho Heavy Industries et al. (46.We expect HMD to maintain stable rapid growth in orders and earnings, despite the global economic slowdown and eurozone fiscal crisis. Indeed, among small- to mid-sized shipbuilders, HMD is the company most favored by shipowners. Amid an expected further slowdown in the shipbuilding market, the company is anticipated to display distinguished share performance in 2013. Given HMDEs cash holdings of W450bn logical and the value of its stake in Hyundai Heavy Industries (W1.Investment points ) We believe HMD will continue to display outstanding performance among small- to mid-sized Korean british shipbuilders in 2013. Even amid intensifying competition due to limited orders and low ship prices, the company is expected to enjoy stable orders, earnings, and cash flow this year. 2) HMDEs competitiveness comes from its productivity, financing capa bility, and the quality of its products. It also boasts strong cost competitiveness as the company purchases raw materials at relatively lower prices from the Hyundai top Heavy Industries Group.5 3. 3 6M 6. 4 -2. 4 12M 11.

1 4,624 378 8. 2 200 9,992 441 -633 5. 5 11. 2 4,404 126 2.4 13. 1 4,855 230 4. 235 11,770 293 416 7. 4 10.2 1. 0 13. 8 0. 9 8.2 4. 3 12/12F 4,404 4,002 402 276 126 126 41 -8 -2 167 41 126 0 126 131 -5 -274 -265 -9 192 -563 4. 4 2. 9 3.

0 4. 7 4. 9 Statement of Financial Condition (Summarized) Wbn) Current total Assets Cash and Cash Equivalents AR & Other Receivables Inventories Other Current Assets Non-Current Assets Investments in Associates Property, Plant logical and Equipment Intangible Assets Total Assets Current Liabilities AP & Other Payables Short-Term Financial Liabilities Other Current Liabilities Non-Current Liabilities Long-Term Financial Liabilities Other Non-Current Liabilities grand Total Liabilities Controlling Interests Capital Stock Capital Surplus Retained Earnings Non-Controlling Interests Stockholders Equity 12/11 4,134 564 975 283 427 3,691 34 889 340 7,825 3,914 1,774 1,779 361 502 56 420 4,416 3,217 100 91 2,081 191 3,409 12/12F 4,994 418 1,814 231 352 3,632 35 928 341 8,626 4,499 1,850 2,253 396 999 191 781 5,498 2,912 100 90 2,172 215 3,127 12/13F 4,919 468 1,568 243 462 3,675 33 964 344 8,593 4,274 1,905 1,953 416 1,046 141 878 5,320 3,067 100 90 2,323 206 3,273 12/14F 4,878 532 1,4 27 255 486 3,650 31 933 347 8,527 4,071 1,991 1,643 437 993 101 865 5,063 3,267 100 90 2,519 197 3,464 Cash Flows (Summarized) Wbn) Cash Flows from Op Activities Net Profit Non-Cash Income and Expense Depreciation year Amortization Others Chg in Working Capital Chg in AR & Other Receivables Chg in Inventories Chg in AP & Other current Payables Income Tax Paid Cash Flows from Inv Activities Chg in PP&E Chg in Intangible Assets Chg in Financial Assets Others Cash Flows from Fin Activities Chg in Financial Liabilities Chg in Equity Dividends Paid Others significant Increase (Decrease) in Cash Beginning Balance Ending Balance 12/11 -697 202 311 62 1 -213 -1,075 -190 -54 -593 -135 441 -100 -4 400 145 93 245 0 -93 -59 -168 732 564 12/12F -816 126 78 65 2 -12 -969 -220 52 66 -50 150 -112 -4 79 186 516 601 0 -39 -46 -146 564 418 12/13F 489 185 71 64 1 10 291 247 -12 56 -58 -47 -100 -4 0 57 -392 -350 0 -39 -2 50 418 468 12/14F 432 230 62 62 1 30 212 140 -12 86 -73 23 -30 -4 0 57 -391 -350 0 -39 -2 64 468 532 Forecasts/Valuations (Summarized)P/E (x) P/CF (x) P/B (x) EV/EBITDA (x) EPS (W) CFPS (W) BPS (W) DPS (W) Payout ratio (%) Dividend Yield (%) Revenue Growth (%) negative EBITDA Growth (%) Operating Profit Growth (%) EPS Growth (%) Accounts Receivable Turnover (x) Inventory Turnover (x) Accounts Payable Turnover (x) ROA (%) ROE (%) ROIC (%) strict Liability to Equity Ratio (%) Current Ratio (%) Net Debt to Equity Ratio (%) Interest Coverage Ratio (x) 12/11 12/12F 12/13F 12/14F 11. 2 19.9 9. 8 8. 4 0. 8 1.8 8. 6 6. 0 9,992 6,556 9,518 11,770 13,153 9,869 12,760 14,910 146,152 130,821 138,428 148,290 2,000 2,000 2,000 2,000 19. 6 29.6 1. 6 1. 6 11. 7 -4.

5 33. 4 14. 3 -44. 7 -66.4 45. 2 23. 7 6. 1 4.1 19. 5 19. 5 2. 5 3.5 2. 2 2. 7 5. 5 4.

1 10. 7 15. 6 129. 6 175.0 115. 1 119. 8 -18. 0 -4.6 78. 1 109. 7Source: Company data, KDB Daewoo Securities Research estimates KDB Daewoo Securities Research 13 late January 17, 2013 Shipbuilding Hanjin Heavy I&C (097230 KS) Hold (Downgrade) Target Price (12M, W) Share Price (01/16/13, W) 10,000 Expected Return (%) 0. 0 EPS economic Growth (13F, %) RR Market EPS Growth (13F, %) 19.6 52-Week Low (W) 10,000 52-Week High (W) 23,850 Beta (12M, Daily Rate of Return) 1. 43 Price Return high Volatility (12M Daily, %, SD) 2. 7 Foreign Ownership (%) 9. Major Shareholder(s) Hanjin Heavy I Holdings et al (37.

We believe that the companyEs earnings and ready cash flow will not improve for the time being, given its tepid order performance amid the sluggish commercial vessel market, and the front suspension of its Youngdo shipyard due to a strike.Although the company has recently embarked on the development of an industrial site near the Incheon port, the project is unlikely to boost operating gross profit markedly due to high capital requirements and increased interest expenses. As such, the companyEs shares are unlikely to recover in the near term, in our view Although the companyEs shares are trading at a 2013F P/B of just 0. 4x, we believe that their investment merits are low.2) There is a slow growing possibility that the Subic shipyard will take new orders, as it possesses strong price competitiveness. However, as it is difficult to slender build highend vessels at the Subic shipyard, the companyEs earnings are unlikely to recover in the near future. 3) There are many labor-manag ement social issues yet to be resolved, including one related to employees who are currently on leave due to a lack of work. ) Although HHIC is meeting its short-term capital special needs through real estate disposal, the company will likely find it difficult to sell large-scale real estate assets due to the real personal estate market slump.Proceeds from the companyEs planned rights offering (estimated to at W180bn) should be only equivalent to its annual interest expenses. 6M -26. 7 -35. 5 12M -47.5 -103 2,795 76 2. 7 -10 3,071 83 2. 7 -32 EPS EBITDA FCF ROE (Won) (Wbn) (Wbn) (%) -1,496 312 487 -3. 6 -2,006 200 -224 -5.

0 0. 5 0. 4 0. 4 0.9 18. 0 Notes: All figures are based on consolidated K-IFRS; NP refers to net profit attributable to controlling interests Source: Company data, KDB Daewoo Securities Research estimates Daewoo Securities Research 14 January 17, 2013 Shipbuilding Hanjin Heavy I (097230 KS/Hold) Comprehensive national Income Statement (Summarized) Wbn) Revenues Cost of Sales Gross Profit SG Expenses Operating Profit (Adj) Operating Profit Non-Operating Profit Net Financial Income Net Gain letter from Inv in Associates Pretax Profit Income Tax Profit from Continuing Operations Profit from Discontinued Operations Net Profit more Controlling Interests Non-Controlling Interests Total Comprehensive Profit Controlling Interests Non-Controlling Interests EBITDA FCF (Free Cash Flow) EBITDA Margin (%) Operating net Profit Margin (%) Net Profit Margin (%) 12/11 2,892 2,665 227 140 87 108 -190 171 -2 -82 15 -97 0 -97 -97 0 -90 -90 0 200 -224 6. 9 3. 7 -3.0 2. 7 -0. 4 12/14F 3,071 2,764 30 7 224 83 83 -125 150 0 -42 -9 -33 0 -33 -32 0 -57 -56 0 184 146 6. 0 2.9 -2,006 323 36,806 0 0. 0 0. 0 -8. 7 -35.

2 -1. 3 -5. 1 2. 4 276.3 0. 4 24. 0 -2,123 -111 34,182 0 0. 0 0.3 8. 0 3. 9 -1. 5 -5.5 0. 3 12/13F 5. 9 0. 4 16.

8 20. 1 RR 3. 6 9. 8 4.6 87. 1 152. 8 0. 4 12/14F 10.0 9. 9 -5. 8 9. 9 RR 3.8 2. 4 267. 0 81. 7 157.

As of the publication date, Daewoo Securities Co. , Ltd. has been acting as a financial advisor to Hyundai Mipo Dockyard for its treasury stock trust, and other than this, Daewoo Securities has no other special interests in the companies covered in this report.As of the publication date, Daewoo Securities Co.* The target price was determined by the research political analyst through valuation methods discussed in this report, in part based on the analystEs estimate of future earnings. The achievement of the target price may be impeded by risks related to the subject securities and companies, as well as general market and economic conditions. W) 800,000 600,000 400,000 200,000 0 1/11 7/11 1/12 7/12 1/13 korean Hyundai Heavy Industries (W) 60,000 50,000 40,000 30,000 20,000 10,000 0 1/11 7/11 1/12 7/12 1/13 Samsung Heavy Industries (W) 350,000 300,000 250,000 200,000 150,000 100,000 50,000 0 1/11 7/11 1/12 7/12 1/13 Hyundai Mipo Dockyard (W) 50,000 40,000 30,000 20,000 10,000 0 1 /11 7/11 1/12 7/12 1/13 Hanjin Heavy I&C Analyst such Certification The research analysts who prepared this report (the „Analysts†°) are registered with the Korea Financial Investment Association and are subject to Korean marketable securities regulations. They are neither registered as research analysts in any other jurisdiction nor subject to the laws and regulations thereof.Except as otherwise specified herein, the Analysts have logical not received any compensation or any other benefits from the subject companies in the past 12 months and have not been promised the same in direct connection with this report.No part of the compensation of the Analysts was, is, or will be directly or indirectly related to the specific recommendations or views contained in this report but, like all employees of Daewoo Securities, the Analysts receive compensation that is impacted by overall firm profitability, which includes public revenues from, among other business units, the instituti onal equities, investment banking, proprietary trading and private client division. At the time of publication of try this report, the Analysts do not know or have reason to know of any actual, material conflict of interest of the Analyst or korean Daewoo Securities Co. , Ltd.Information and pinions contained herein have been compiled from sources believed to be reliable and in good faith, but such information old has not been independently verified and Daewoo makes no guarantee, representation or warranty, express or implied, as to the fairness, accuracy, greater completeness or correctness of the information and opinions contained herein or of any translation into English from the Korean language. If this report is an English french translation of a report prepared in the Korean language, the original Korean language report may have been made available to investors in advance of this report. Daewoo, its affiliates and their directors, officers, employees and agents do not accept a ny liability for any loss arising letter from the use hereof. This report is for general information purposes only and it is not and should not be construed as an such offer or a solicitation of an offer to effect transactions in any securities or other financial instruments.

The price and value of the investments referred to in this report and the income from them may go down as well as up, and institutional investors may realize losses on any investments. Past performance is not a guide to future performance. Future returns are not guaranteed, and a great loss of original capital may occur. Daewoo Securities Research 16 January 17, 2013 Shipbuilding Distribution United Kingdom: This report is being distributed by Daewoo Securities (Europe) Ltd.S. by Daewoo Securities (America) Inc. , a member of FINRA/SIPC, and is only intended for major institutional investors as defined in Rule 15a-6(b)(4) under the U. S.Any U. S. recipient of this document wishing to effect a transaction in any securities discussed herein should contact and same place orders with Daewoo Securities (America) Inc. , which accepts responsibility for the contents of this report in the U.S. or to U. S. ersons absent registration or an applicable exemption from the registration requi rements.