Thorn Queen Chapter Seventeen

Jasmine nearly leapt ten feet in the air when I came tearing through the hall that led to her cell. â€Å"You!† I exclaimed. â€Å"You can summon water demons.† She widened her eyes, speechless for a change. It appeared as though I'd interrupted her doing†¦well, nothing. In a fit of guilt, I'd sent some books down to her to pass the time, but reports from the guards said she did little but sulk. Well, that and try to cajole them to let her out. I guess she figured she'd deal with Volusian after she got one of the guards to crack. Recovering herself a moment later, she adopted a sneer reminiscent of Ysabel's. Considering their mutual hatred of me, maybe I should have sent her down here to entertain Jasmine. â€Å"Maybe,† Jasmine conceded. â€Å"Why? Afraid I'll use them to break out?† â€Å"No,† I said. â€Å"But I need them to get rid of some fire demons.† Roland had told me the best way to oust the demons would be by summoning their opposites. I'd dismissed the idea then, knowing it was beyond my capability. At the same time, I'd considered the possibility that Jasmine could do it†¦though it had seemed a useless sentiment considering I'd had no clue to her whereabouts or any reason to think she'd help me. But now? Well, things were different. Art's attitude had left me feeling helpless and ineffectual. Now, I suddenly felt as though I had the means to take control and actually right some wrongs in this kingdom. â€Å"So?† Jasmine asked, not seeming startled in the least. â€Å"That's got nothing to do with me.† â€Å"Not true. You're going to help me. We're going to face them and their master, and you're going to summon water creatures to take down those demons.† Jasmine's expression was almost comic in its disbelief. â€Å"Why would I help you?† I tried good cop first. â€Å"Because it's the right thing to do. They're hurting innocent people.† â€Å"So? Like I said, that doesn't affect me.† â€Å"Spoken like the selfish child you are.† She flushed. Considering her obsession with having a baby and ruling over both worlds, she didn't like having her age or capabilities mocked. â€Å"I thought you wanted to be the queen of this land once.† She glowered. â€Å"Yes. And I would have been if you hadn't stolen it!† â€Å"Why? Why be queen if you have no intention of doing anything? Did you just want to wear a crown and have people grovel?† She didn't acknowledge that and instead replied stonily, â€Å"I'm not helping you.† I stepped toward the bars, smiling sweetly, even though I was about to enter bad-cop mode. â€Å"Oh, you are. Whether you like it or not.† â€Å"What, you're going to force me or something?† In a matter of seconds, I had my Glock out and pointing straight at her. She paled and backed up against the wall, looking very much like she wanted to melt into it. Behind me, I heard a slight shuffling among the guards. Guns were a very human weapon, made of steel and alloys and other substances that were anathema to the gentry. They were equally deadly to humans-or, in Jasmine's case, half-humans. â€Å"You're crazy,† she said. I shrugged. â€Å"I've got a job to do, and you're key to getting it done. You can cooperate, and maybe I'll improve your living arrangements. Give you a room instead of a cell.† I could see thoughts and schemes spinning behind her eyes. Jasmine was young, inexperienced, and self-centered†¦but she wasn't stupid. I had to think somewhat cheerfully that that too was a family trait. â€Å"And if I don't do it, you're going to shoot me?† â€Å"Well, everyone says I should kill you anyway.† My voice was calm, my face hard. I didn't know if she would believe me or not. Hell, I didn't know if I believed myself. She knew I had little love for her after everything she'd done, and I'd long had a reputation as a ruthless fighter and-as many gentry saw it-murderer. Jasmine swallowed. She was trying to look calm too, but her eyes betrayed her. â€Å"How do you know I won't summon them and have them turn on you once my cuffs are off? You know I can't wear them and still have that kind of power.† I released the safety on the gun, which was still pointed at her. â€Å"Because I'll have this on the back of your head the entire time.† Long silence fell. Volusian was so still that I'd nearly forgotten he was there. Finally, Jasmine said, â€Å"I hate you.† â€Å"So†¦that's a yes?† I took her silence as a confirmation and put the gun away, putting the safety back on and feeling a bit surprised at the pounding of my own heart. Had I really just pointed a gun at a fifteen-year-old girl? Roland and Kiyo both believed dealing with magic could change the kind of person you were. Was messing with lightning and air turning me into someone who could easily threaten others to get my way? No, I decided. This had nothing to do with the magic. This was necessity. I needed to oust those fire demons, and this was the way to do it. â€Å"Eugenie?† A soft voice pulled me from my churning emotions. â€Å"Kiyo!† He stood there in the hall, and I wondered how much he'd overheard. It didn't matter. I was just so insanely happy to see him. The heaviness in my heart lightened, and if there hadn't been so many witnesses, I would have run into his arms. He looked amazing, dressed in human garb: jeans and a plain gray T-shirt that hugged his muscles perfectly. The silken black hair curled around his chin, and his skin looked like caramel. But his eyes†¦his eyes were hard. I gave Jasmine a warning look. â€Å"We'll talk later.† â€Å"Fuck you, Eugenie,† she called. I caught hold of Kiyo's hand and walked back upstairs with him. Seeing him released all the nervous tension in me that had been building up since last night. I'd been so wound up, so worried and afraid. Now, it was like all was right in the world once again. The news about the baby was hard on me, but I still wanted to congratulate him. The words were on my lips as soon as we were alone, but he spoke first. â€Å"Really, Eugenie? This is what it's come to?† My head was still giddy over seeing him. â€Å"What do you mean?† He pointed back toward the dungeon door from which we'd just emerged. â€Å"That! I never expected to find you with a gun to a teen girl's head.† â€Å"It wasn't exactly to her head,† I said. â€Å"And she can help us get rid of those demons. Even if she can't summon true water demons herself, we both know she can call other water creatures.† Kiyo and I had fought off some such creatures-including one that had caught us in a compromising position in his car and nearly killed both of us. â€Å"Those could give us the edge.† â€Å"And if she doesn't, you really are going to kill her?† I sighed and stopped walking, leaning against one of the tapestry-covered walls so I could face him. â€Å"Do you really think I'd do that?† â€Å"She seemed to think you would, and to tell you the truth, I kind of did too. I don't think you realize how scary you can be.† He stood in front of me, with little distance between us, and there was an odd mix of sexual chemistry and antagonism in the air. â€Å"There's a strange feel to you†¦have you been practicing magic?† I didn't answer immediately, which was as good as an admission of guilt. The look he gave me was almost more horrified than when he'd thought I was going to shoot Jasmine. â€Å"A little.† â€Å"A little! Eugenie,† he hissed, leaning close. â€Å"There's no in-between with this stuff. You keep doing it, and you're just going to fall farther and farther down the rabbit hole.† I laughed and threw my arms up, gesturing to the castle. â€Å"I fell into Wonderland a long time ago.† â€Å"You know what I mean. I thought you weren't going to do it anymore. I thought we agreed it was bad.† â€Å"You agreed,† I corrected, feeling my own temper start to rise. â€Å"I had a chance to learn more, and I decided to take it. And like I said, it's only been a little.† â€Å"Learn from who?† he asked suspiciously. â€Å"A woman from Dorian's kingdom. She has some ability with controlling air and has been showing me how to use it. I might be on the verge of calling lightning too.† In front of his furious gaze, there was an instinct to be sheepish†¦and yet, I felt kind of proud at what I'd accomplished. â€Å"Of course. Dorian. Somehow, I'm not surprised.† â€Å"Hey, Dorian's been nice to me lately.† My defense of the gentry king surprised me-as did the truth of it. With so much in chaos recently, I'd found Dorian's presence almost comforting. Kiyo rolled his eyes. â€Å"Yes, and I'm sure he'd love to be nicer still. Look, you start putting all those magical elements together, and you're going to have some serious power on your hands. You're going to be like-â€Å" â€Å"Do not say like Storm King!† I cried. â€Å"I wish everyone would just stop assuming that's inevitable. Plenty of gentry use magic without becoming tyrannical warlords. Give me some credit here.† â€Å"I'm just worried about you,† he growled. â€Å"And do you know what I'm worried about? I'm worried about people starving here, about people not getting enough water. I'm worried about brigands and demons preying on innocents. I'm worried about girls disappearing and possibly being abducted by those who face no accountability. And all of this is on top of trying to still live my human life and keep every goddamned Otherworldly guy out of my pants. So don't come here and start dictating to me. You're never around. You have no idea what I'm going through!† I was shouting, and it was a wonder none of the servants had come scurrying to see what was wrong. My breathing was heavy, and I'd clenched my fists without even realizing it in my anger. â€Å"Why are you here anyway?† I demanded. Kiyo's dark eyes were hard to read, but I could see some of his earlier fury had cooled. I wasn't sure if he'd reconsidered his accusations or simply decided I wasn't worth arguing with. â€Å"I came to see if you wanted to visit the baby.† â€Å"Oh.† For whatever reason, it was like a bucket of cold water on the rest of my anger. I sighed. â€Å"Kiyo†¦I'm sorry. I shouldn't have yelled at you-â€Å" He raked a hand through his dark hair. â€Å"And I shouldn't have jumped all over you.† A sly grin turned up the edges of his lips. â€Å"Well, not that way at least. But you're right-I haven't been around. You're going through a lot that I've missed, and I don't know fully what's going on. I mean, that doesn't change how I feel about Jasmine and magic-â€Å" I held up a hand. â€Å"Enough. We can fight about those later. Tell me about the baby.† And like that, Kiyo's face completely transformed. Joy and wonder of such purity filled his features that it was amazing to behold. I'd hardly ever seen him look like that-no, scratch that. I might have never seen him look like that. â€Å"Oh, Eugenie. She's so beautiful. So perfect. I never†¦she's like nothing I ever could have imagined.† Something sank in the pit of my stomach, something cold and leaden. I almost wished he'd get angry again so that my own fury would return. Anger was warmer than sadness. Forcing a smile, I reached for his hand. â€Å"I'm so happy for you,† I said. â€Å"I'd love to see her. What's her name?† â€Å"Luisa.† He said the name like a prayer, like a magic word that could fix all the world's ills. I'd heard him say my name like that too, often in the midst of sex. Obviously, his attitudes toward the two of us were a bit different, but the intensity of his love was similar. â€Å"It's a pretty name,† I said, still trying to smile. A moment of uneasy silence fell. â€Å"Ready to go?† I was growing better at convincing Rurik to let me leave without an escort, and Kiyo and I were able to make good time to the Willow Land. I rode on horseback, and he ran alongside in fox form, able to easily match my pace. While this wasn't an official state visit, I'd grumblingly put on a gentry dress in recognition of my queenly status. It was a simple one, pale blue with cap sleeves and light material. It actually had kind of a Jane Austen feel. The worst part was that since I refused to ride sidesaddle or anything ridiculous like that, the skirt rode up on my legs. With only Kiyo to see me, it didn't matter too much, and he certainly didn't mind. Along the way, we passed another village in my kingdom, one I had yet to visit. I recognized it from Shaya's descriptions. I was pretty sure it was one of the ones with copper ore. Near its outskirts, I could see people working and digging. I made a mental note to stop on the way back-if the Otherworld didn't decide to send me through a different route. Kiyo's fox form meant we didn't have to make any conversation. Spring was progressing rapidly in the Willow Land when we arrived. In fact, it had come much more quickly than I would have expected based on my last visit. There was no snow, and buds were bursting on the trees. The air was warm and picnic-perfect, with crocuses, daffodils, and other spring bulbs sprouting in brightly colored clusters. I was startled at the change until I remembered how the Otherworldly kingdoms were tied to their monarchs. I could pour my energy into the land and help heal it. Dorian kept the Oak Land in a perpetual state of autumn because it brought on memories of his youth that made him feel good and strong. If Maiwenn had just given birth, wouldn't her land reflect that burst of new life? Kiyo shifted back to human shape as we approached the castle's main gates. Those guarding it gave me curious looks but welcomed him with cheers and genuine affection. Indeed, the happy energy was palpable as we walked the halls. Everyone in Maiwenn's hold acted as though they were on their way to a party. Smiles shone on everyone's faces. Kiyo required no escort or guide as he led us swiftly through the halls, up a few flights of stairs, and into Maiwenn's bedroom. As soon as we entered, I decided I might need to have a talk with Shaya about redecorating. The bedroom I'd inherited from Aeson was that of a medieval warlord, with blocky furniture, few windows, and everything-from the thick stone walls to the bedding-in dark, somber colors. Maiwenn's room was light and airy, ringed in windows and filled with exquisite, delicate-looking birch furniture. The sheets on her bed were lavender silk, and gauzy material hung from the canopy. It looked like a room befitting a fairy princess-er, queen. â€Å"Eugenie,† she said, smiling. She was sitting in bed with pillows propped behind her. â€Å"I was hoping you'd come.† Were you? I wondered. A day after having a baby, she looked as gorgeous as usual, her golden hair cascading over a soft pink nightgown. A delicate crown of pearls, even in bed, adorned that luxurious hair, and I pettily thought again about my alleged need for a crown. Kiyo claimed it would send the wrong message, but I suddenly kind of wanted one. A small bundle was in Maiwenn's arms, but mostly all I could see of Luisa was a lacy white cap and a shock of black hair. I smiled back and approached tentatively. Had I treated this visit too casually? Should I have dressed up even more than I had and come bearing gold and frankincense? â€Å"Congratulations. You must be so happy.† Maiwenn's smile became even more radiant. She met Kiyo's eyes, and something passed between them-not romantic, exactly, but a strong emotion I wasn't privy to. Maiwenn carefully lifted her blanket-wrapped bundle, and he took it from her with equal gentleness. â€Å"See?† he said, coming to stand beside me. â€Å"Isn't she beautiful?† Beautiful wasn't quite the word I would have used, though Luisa was definitely cute-which was a relief. I'd met people with ugly babies, and in those situations, you almost always had to lie and say the baby was cute. No need for lies now. Luisa was adorable-which was no surprise with her parentage-and indeed, it was obvious whose genes she'd gotten the bulk of. With her black hair and tanned skin, Luisa was clearly her father's daughter. â€Å"Here,† he said, handing her to me before I could stop him. I hadn't held many babies before, and I took her awkwardly, one arm supporting the length of her body while the other supported her head. She was warm, nearly round with all those blankets, and shifted ever so slightly as she slept. Everything about her was tiny-tiny nose, tiny fingers, tiny eyelashes. A weird feeling built up at the back of my throat, and I remembered my conversation with Dorian. My hips would forever stay slim. My body would never create anything like this. When Luisa briefly opened her eyes to look at me-they were dark blue, no doubt to become brown-I handed her back to her father. Kiyo took her happily, still wearing that wondrous look on his face, and sat on the edge of the bed. He placed Luisa in Maiwenn's arms, and while there was no more touching than such an act required, I again had that sense of connection between them all. An intangible bond that would keep them together forever. I wanted to leave after that. I wanted to run from this place and never come back. But, I had to stay because Kiyo wanted me to be a part of this and because it was the polite thing to do for Maiwenn. So I kept that smile frozen on my face and made small talk that I barely heard, like whether Luisa would inherit any kitsune abilities and when Maiwenn should host the celebration of her birth. At long last, Kiyo said we had to go, and I could tell he only did so for my sake. If he'd had his way, he would have stayed all night. I told Maiwenn congratulations again and assured her of my happiness and the baby's cuteness and a dozen other things new mothers like to hear. Kiyo was full of smiles too, but as soon as we left the room, his faded. â€Å"Was it really that awful?† he asked. I did a double-take. â€Å"What are you talking about? Did I say something wrong?† â€Å"No, Eugenie. You were perfect. Everything was perfect. I don't think Maiwenn noticed a thing-but then, she's pretty distracted.† He sighed. â€Å"But I know you. I can see you're upset. Are you really still that worried about Maiwenn and me getting back together?† Maiwenn and him? How could I explain that what I felt went beyond simple jealousy? It wasn't just that I feared the birth of this baby might bring them together-and that was a legitimate fear of mine-but Luisa's birth impacted me in so many other ways too. I thought about Kiyo and how much I loved him and wanted as strong a relationship as we could have-but that no matter what happened with us, we could never have a family like that. I worried again if he might cast me aside for my inadequacies. And while I was still a long way from being baby crazy or hearing my biological clock, how awful was it going to be if someday I did want a baby and couldn't have one? Or what if-God help me-I did have a baby through some accident? I could never love it, not with that prophecy hanging over my head†¦. â€Å"It's complicated,† I said, realizing Kiyo was waiting for an answer. â€Å"Eugenie,† he said wearily. â€Å"I love you. I love you so much. This isn't going to change that. Maiwenn and I are through as lovers. I will always care about her, and we're going to work together to make sure Luisa's raised with all the love and attention she needs. But you're the woman I love, the woman who's my partner and who I want to be with forever.† His words were sweet, and they did warm part of me up. But he still didn't get the whole picture, didn't understand the tangle of emotions this birth had stirred up in me. It was so hit or miss with Kiyo lately. Some days, I felt like he knew me better than I knew myself. Other days, when it came to the issue of babies-or magic or ruling a kingdom-it was like he didn't get me at all. â€Å"I know,† I said, laying my hand on his. I certainly wasn't going to fight or debate this in the middle of Maiwenn's castle. â€Å"Look, it's okay. We'll talk about this later. Right now†¦well, I can tell you don't really want to go.† He shook his head. â€Å"No, no. I'm coming with you-â€Å" â€Å"Kiyo,† I said, unable to help a small smile, â€Å"I know you. I saw your face up there. You want to be with Luisa more. And you should. Stay awhile, and I'll just go back myself.† â€Å"Eugenie†¦Ã¢â‚¬  But I could tell I was right. â€Å"It's fine. And I'll be fine. I'm the big bad Thorn Queen, remember? Besides, I want to visit that village we passed.† He was silent for several seconds. â€Å"Where will you be tomorrow? I want to find you.† â€Å"I'm not sure. In the morning I have to be back in Tucson for a job-and to talk to Roland-but after that†¦Ã¢â‚¬  So much kept happening lately that I was always shuffling one problem around for another. I hadn't had the chance to talk to Roland about Art and the Yellow River connection, nor did Kiyo know about the recent developments around that either. Before I could start to explain, Kiyo turned us in an unexpected direction. â€Å"Do you want to go hunting fire demons?† I regarded him with surprise. â€Å"Really?† â€Å"Well, if you've got Jasmine and your new tricks, you've got more of a fighting chance, so I figure you might as well make it a slam dunk and bring me along. You've been wanting to get rid of them, right?† We'd come to a stop in the hall, and the scenario was eerily parallel to when we'd been in my castle earlier. There was no chastisement or echoes of that argument now, and I was grateful. â€Å"Thank you,† I said, leaning toward him. I placed a light kiss on his lips-or at least, I tried to make it light. His hand reached out and grabbed my shoulder, bringing me closer still and intensifying the kiss. I pulled back, wondering just how weird it would be for a servant to see the father of their queen's child making out with someone else. Of course, among the gentry, that kind of thing was probably pretty typical. â€Å"Go,† I said, stepping back before I was tempted to kiss him again. â€Å"Go see your beautiful daughter. We'll talk tomorrow.† â€Å"Thanks, Eugenie.† His face split into one of those wonderful grins. â€Å"And thank you for†¦I don't know. You understand me. I don't think anyone else does.† I smiled back and then watched him turn around. A few moments later, I turned as well. As I stepped outside into the balmy spring air, I wondered if anyone truly understood me.

Bidvest Corporate strategy Essay

1. Executive Summary Bidvest is a South Africa-based distribution services and trading business and the largest foodservice business outside North America. The group is active in freight management, outsourced services, industrial and commercial products and services, printing, packaging closures, stationery, office products, corporate travel and automotive retailing. Bidvest is listed on the Johannesburg Stock Exchange, with over 105,000 employees on four continents. http://en.wikipedia.org/wiki/Bidvest_Group .The group is also highly debt-averse – a position it is able to maintain through its ability to generate cash. This assignment firstly provides an introduction into who is Bidvest and provides a broad and critical evaluation of Bidvest strategy. The group used approach that evaluated Bidvest started with highlighting the key success factors of Bidvest. Secondly we used the two competitiveness models, firstly the generic business strategies which are also supported by Porter for possible use in adoption to gain competitive advantage model and Porter’s diamond model. From investor perspective Bidvest shares are very appealing for their stability and or growth and for anyone who is in the market for a job, they will not go wrong with Bidvest. Lastly any small innovative struggling company out there who would like to will like to be on the shoulders of a giant they should not look elsewhere. 2. Introduction The Bidvest Group started as an idea to raise capital to acquire, fix and develop underperforming services business by Brian Joffe. Joffe consolidated what was a highly fragmented support services sector and created the enabling working conditions for people to enjoy their work and flourish. It started with the acquisition of Chipkins Catering Supplies in 1988 Bidvest was founded by Mervyn Chipkin and Brian Joffe in 1988 via an R8 million cash shell (a little over US$1 million in 2011 rands). The shell was a fast-track to a 1989 stock exchange listing. The next acquisition was the purchase of Sea World frozen foods. Bidvest listed on the JSE and its appetite for acquisitions has been insatiable ever since. Since then, Bidvest acquired a range of companies in diverse sectors from hygiene services to sports marketing to logistics to stationery. The group’s international expansion began in 1995 when it acquired 50.1% of Australian Stock exchange listed Manettas. This business was renamed to Bidvest Australia. Bidvest has a small corporate office to give strategic direction, pursue strategic growth opportunities, support divisions, monitor performance, and maintain the entrepreneurial spirit and a red-tape free environment. http://en.wikipedia.org/wiki/Bidvest_Group#Business_model 8 August 2013 Bidvest currently operates four divisions – Bidvest South Africa, Bidvest Foodservice, Bidvest Namibia, and Bidvest Corporate. Its businesses span four continents namely Africa, Europe, Asia, and Australasia. In South Africa Bidvest has a footprint in a variety of about ten industries and focus on food services in the international market. The group is active in freight management, outsourced services, industrial and commercial products and services, printing, packaging closures, stationery, office products, corporate travel and automotive retailing. 3. Bidvest Key Success Factors To critically evaluate Bidvest Corporate Strategy we will highlight some of their key success factors: a) Leadership of original creator Leadership of the original creator, Brian Joffe is one of the key contributors to the success of Bidvest. His dreams are inherited the way Bidvest operates. b) Decentralised corporate management approach Bidvest pursues a decentralized business model where local businesses are autonomous and local management stay close to their businesses, industries and customers. It is people-driven and talent retention is one of its key strategic objectives. Despite its decentralization business model, it has a common culture of information and experience sharing across its divisions. It thrives on locally focused businesses and their empowered manager’s approach and its businesses are often industry leaders. In the South Africa market, the support for local small businesses is a priority. The Bidvest’s corporate centre adds value by identifying opportunities and implementing Bidvest’s decentralised entrepreneurial business model. Bidvest firmly believe in non-interference with individual business expertise/management. Others may think decentralisation is not always a good thing but Bidvest is an international organization with no standardized product/service for global market s. The following are advantages of decentralisation: Distribution of burden of top executive – Decentralisation enables its executives to share his burden with others at lower levels because here authority is delegated. The top executive is relieved of some burden and concentrates his activities to think for the future of the organization. This is definitely applicable to Bidvest Corporate where the Top Management focuses on the company strategy and not get burden down with the day to day management of activities. Increased motivation and morale – The moralities of the employees are increased because of delegation of authority. Decentralisation helps to increase employees’ morale because it involves delegation. The employees are motivated to work. Greater efficiency and output – Decentralisation gives emphasis on care, caution and enthusiastic approach to the work which in turn results in increased efficiency and output. This is possible because it involves delegation of authority and responsibility. Diversification of Activities – Decentralisation helps in diversification of activities. It crests more employment opportunities because new managers are to be entrusted with new assignments. Better Co-ordination – The various operations and activities are coordinated in a decentralised set up. Maintenance of Secrecy – Decentralisation enables to maintain secrecy without much cost and unnecessary trouble. Facilitate effective control and quick decision – Decentralisation enables to measure the work according to standard easily and quickly. This facilitate taking up quick decision. http://www.preservearticles.com/201101143290/decentralization-and-explain-its-advantages-and-disadvantages.html/ 8th August 2013 c) Business acquisition model It is argued that at the time when corporate giants were unbundling to focus on their â€Å"core competencies†, Bidvest took the opposite direction by acquiring different businesses in diverse markets under its fold, albeit with a lean central corporate structure supporting all its divisions. www.moneyweb.co.za/ 8th August 2013 One of the tactics Bidvest applies is to ensure that it owns 100% of almost all its underlying companies and keeping the original entrepreneur in charge of the purchased business/entity. This allows Bidvest to provide business, financing and strategic support to grow these firms’ to levels they could not have achieved on their own. Bidvest is a highly diverse and equally highly focused group – intense focus by managers steeped in their industries, drives Bidvest performance every year. d) Flair for entrepreneurship According to business dictionary, entrepreneurship can be defined as the capacity and willingness to develop, organize and manage a business venture along with any of its risk in order to make a profit. www.businesdictonary.com/ 8th August 2013. Because of the strong entrepreneurial flair in Bidvest, it has been a driving force that has fostered growth in a variety of sectors, creating the Group as we know it today. Clear vision about the way forward has become essential. e) Healthy organizational culture; a diversified product/service offerings Bidvest with its diverse businesses, have the advantage of collective diverse resources, capabilities and alliances, respectively, which it uses to leverage its overall performance as a group. f) Adding value by building a reputation for quality reliability and innovation In a price-sensitive environment the challenge, common to all Bidvest’s businesses, is to add value by building a reputation for quality, reliability and innovation. Market share growth and margin management were fostered by range extension, range differentiation and new product introductions that anticipated the lifestyle needs of the consumer. g) Quality of Bidvest brand The biggest factor that leads to the success of Bidvest is the quality of its brand and slogan ‘Proudly Bidvest’. This brand has penetrated so many industries and as well as the global arena. h) Bidvest’s philosophy is one of transparency, accountability, integrity, excellence and innovation Bidvest is consistently searching for newer and better innovations to satisfy consumer needs. i) Product innovation Sales growth at Bidvest’s is underpinned by organic growth, acquisitions, and product innovation and range extensions. j) Strategic Innovation To capture economies of scale, a centralised sourcing operation was established, Bidvest Procurement Company (BPC). Early experience at BPC was highly encouraging. The new business is centred in Hong Kong and Shanghai, but will ultimately be responsible for procurement across Asia. A new smartphone application was rolled out in Australia, New Zealand and the UK that enables customers to place an order via a handheld device. Close watch is maintained on handheld scanning technology for new business. 4. Corporate and Business strategy Grant (Grant 2011:19) see strategy in two dimensions by making a distinction between corporate strategy and business strategy. He defines corporate strategy as the scope of the firm in relation to the markets and industries in which it competes (where to compete). In this area the firm can make five fundamental strategic choices – diversification, vertical integration, acquisitions, new ventures, and allocation of resources between the different businesses of the company. He further defines business strategy as the function of how the firm competes within a particular industry and market (how to compete) – this is where the firm’s competitive advantage over rivals comes in. The above two strategy dimensions, are usually reflected in most organisations’ organizational structure – where the executive level focus on the scope, where to compete and divisional managers focus on the how to compete within particular industries. (Grant 2011:19). 5. Porter’s Diamond of National Competitive advantage Further to the key success factors above we will also incorporate Porter’s diamond shaped diagram as a basis of a framework to illustrate the determinants of national advantage. The diamond represents the national playing field that the countries establish for their industries. As a system the diamond system, the effect of one point depends on the others and it is a self-reinforcing system. http://www.smartstudentsok.com/porters-diamond-model 8th August 2013 According to Michael Porter on his work on firm-level factors (1986) and clusters of firms (1990) competitive advantage is created and not inherited. His view differs from the traditional economic thinking which focuses comparative advantage. Comparative advantage refers to things like availability of basic factors of production, like cheap labour or energy, or natural resources. On the other hand competitive advantage is created. Sustained industrial growth has hardly ever been built on inherited factors. Sustained industrial growth has been the outcome of interlinked factors and activities. The following are Porter’s four interlinked factors: i. Business / Company strategies, structures and rivalry According to Porter despite all differences and national peculiarities one characteristic shared by competitive economies is that there is sharp competition among national firms. In a static perspective, national champions may enjoy advantages of scale; but the real world is dominated by dynamic conditions, and here it is direct competition that impels firms to work for increases in productivity and innovation; here, anonymous competition often turns into concrete rivalries and feuds, in particular when competitors are spatially concentrated. â€Å"The more localized the rivalry, the more intense. (Porter 1990, 83) This is all the more true, as its effect is to cancel out static locational advantages and compel firms to develop dynamic advantages. Bidvest has achieved this by going global and maintaining the decentralised approach, as well as performing to stretch targets despite economic downturn. Competitive advantage Michael Porter identified two basic sources of competitive advantage – cost advantage and differentiation advantage. A company has cost advantage when it is able to deliver the same product/service benefits as competitors but at a lower cost. On the other hand a company has differentiation advantage when it delivers benefits that exceed those of its competitors’ products. Essentially a competitive advantage enables the company to create superior value for its customers and superior profits for itself. Cost and differentiation advantages are known as potential advantages since they describe the organizations position in the industry as a leader in either cost of differentiation. A competitive advantage is achieved by offering consumers greater value, benefits and service, which justifies premium or higher prices. Porter further recognises four generic business strategies for possible adoption to gain competitive advantage – these strategies relate to (1) scope (the extent to which business’ activities are narrow versus broad and (2) the extent to which a business seeks to differentiate its products. The four strategies are illustrated in Figure 1.1 below. Figure 1.1 – Source of competitive advantage (www.tutor2u.net/ 8 August 2013) Differentiation leadership and cost leadership strategies – seek competitive advantage in a broad range of markets/industries, Differentiation focus and cost focus strategies – applies in a narrow market or industry. Bidvest seeks competitive advantage in a broad range of markets / industries, operates in diverse industries/markets, and targets developing economies, both nationally and internationally. Based on this is it clear to us that Bidvest pursues the differentiation leadership and cost leadership strategies. Bidvest is differentiating itself from their competitors by being strong in their respective markets having sufficient market share to gain. As a group they achieved their growth target irrespective of the prevailing economic downturn. They further need to multi-currency earnings; and sharing of resources and best practices across all businesses in the group. ii. Existence or lack of related and supporting industries Spatial proximity of upstream or downstream industries facilitates the exchange of information and promotes a continuous exchange of ideas and innovations. On the one hand, he points out that even upstream industry should in no case be sheltered from international competition; and he notes on the other hand that when certain upstream industries are lacking, recourse can be had to the supply available in the world market. http://www.meso-nrw.de/toolkit/tools/tools-diamond-2.html 8 August 2013 iii. Analysis of Bidvest international/global business approach The Bidvest global strategy is driven by its foodservice operations and its objective criteria for full entry into any foreign/national market is based on the following three main pillars namely, (1) acceptable levels of infrastructure development, (2) existence of a strong corporate sector and (3) The potential for outsourced services. Bidvest is not fixated on a particular geography. Bidvest argues that it uses its African heritage with a strong focus on respect for diversity, as leverage in its global business approach to appreciate local conditions for its products, services and customers. The following are Bidvest’s uniqueness: a) It is an international organization with no standardized product/service for global markets; b) Does not have centralized business processes for its entities; c) Due to its diverse focus it operates in multiple national markets rather than in a single global space. Bidvest mainly focuses on providing necessities to developing economies and whilst its revenue is earned in multiple currencies, none it of it is denominated in U.S. dollars. It is our view that Bidvest should consider that their earnings be in US dollars in foreign countries. Internationally, foodservice has been the focus and Bidvest has developed globally competitive skills in this area to the extent that one-third of its trading profits are generated from foreign operations. Bidvest does not show specific interest to any geographic region or type of business. Its foodservice offerings and focus on developing economies, takes advantage of the urbanization paths of these economies . It however, remains alert to other support services opportunities on a case by case basis. Bidvest has an impressive international presence which is highlighted in brief as follows: Western Europe, – The Eurozone is facing many challenges which according to Bidvest leadership it is greatly attributed to poor decision making and policy considerations. Despite these challenges Bidvest finds Europe an attractive region for selective investments. Its rationale is that Europe has a well-educated workforce, infrastructure is generally well developed and the population is sizeable. Therefore, policy environment is a critical consideration for Bidvest in its international business strategy. Eastern Europe – Bidvest has recently acquired foodservice operations in Lithuania, Latvia and Estonia creating a platform for further growth in central and Eastern Europe and its entrepreneurship is flourishing in Eastern Europe and a business-friendly environment has developed. www.bidve st.co.za/ 8 August 2013). South America – Bidvest entered this market by the acquisition of a controlling interest in a small Chilean foodservice operation with exciting growth prospects. According to widely published reports at the end of 2011 South America’s largest economy (Brazil) has overtaken the UK as the world’s sixth largest economy and this is an indication of growing momentum in this region that Bidvest can benefit from. Bidvest is set to benefit from this growing economy. Southern African – the creation of Bidvest Namibia and its successful recent listing further enhances its presence in the region. iv. Managing global organisations Managing an international business is different from managing a domestic business for at least four reasons (Hill 2011:65): 1. Countries are different 2. An international business manager faces more complex challenges than a domestic business manager 3. Manager is an international business manager operates within limitations and constraints imposed by government’s intervention in the international trade and investment systems. 4. International business transactions involve multiple currency conversions. In view of the above research shows that Bidvest has found a solid recipe to overcome the above challenges. It is our view that Bidvest’s ability to succeed is its diversity in business locations and rich South African history and make up of national diversity often referred to as rainbow nation. Using Diversification as a strategy Diversification refers to a firm’s strategic choice to enter into other products and/or markets by through internal or external development. Hill describes diversification as a conundrum/challenge or puzzle, because a strategic choice/quest to enter new markets has more potential value destruction yet, it also offers growth options and the potential for expansion and to free itself of the restriction of a single industry (Hill 2011:403). There are basically two broad forms of diversification, first is related diversification which occurs when a company develops beyond its present product and market but remaining in the same sector and use its current capability/strengths and expertise to develop new interests in same sector. Secondly, unrelated diversification occurs when an organisation move its present interests into unrelated markets or products / services. Basic reasons for diversification may be summarised as follows: a. Efficiency gains, in the situation where a company has underutilized resources and competences that it cannot effectively close or sell, it makes business sense to use the resources and competences by diversifying into a new product or service activity. b. Increasing market power, a company can decide to cross-subsidize one business from the surpluses or proceeds earned by another in such a way that its competitors may not be able to. c. Stretching corporate parenting capabilities into markets and products d. Responding to challenging market declines e. Spreading risk Advantages of diversification as a strategic choice in relation to Bidvest: a. Take advantage of existing expertise, knowledge and resources in the company when expanding into new activities. This may result in transfer of skills, such as research and development knowledge and sharing of resources. b. Bidvest does not rely on single market which provides better risk control for their existence. c. Bidvest is doing well is avoiding risk by avoiding the syndrome of having all eggs in one basket d. Control of inputs, leading to continuity and improved quality. e. Control markets by guaranteeing sales and distribution. This can arise through a combination of linkages in the value chain. f. Provide movement away from declining activities Disadvantages of diversification strategy in relation to Bidvest i. Adding bureaucratic complexity. In addition to direct financial costs, there may additional bureaucratic complexities necessitated by the need to coordinate and control core activities with additional activities. ii. Cross subsidizing of loss business may take too long to be turned around while canabalising the revenue stream. iii. May result in slowing growth in its core business due to additional management cost incurred. iv. Losses may be incurred during market consolidation process resulting in some business units being subsidized by other profit making units. v. May result in negative synergies. Negative synergies should be avoided at all times. vi. Diversification through acquisition across national boundaries may result in the organization having to deal with varying intricacies of the political and legal requirements of the different countries where the company is operating. Political and legal requirements and or changes are nasty beasts to contend with mainly because in other countries they can be implemented over night. In a case like this a company like Bidvest may at times face closure where there is political turmoil. vii. Diversification through acquisition may result in failure where there is a mismatch between core competencies or experiences of the acquirer and acquired businesses http://www.scribd.com/doc/12376024/Advantages-and-Disadvantages-of-Diversification 8th August 2013 iv. Factor conditions Governments control provision of roads and airports, electricity, telecommunication infrastructure including cables and wireless; and education and healthcare. Leading to 2010 Soccer World cup South Africa provided a lot of capital infrastructure which is our view Bidvest benefited from. These provisions can in turn help or hinder industries dependent on these infrastructures and utilities for sustainable growth. Further, governments also create laws and regulations which affect the ability of firms to compete nationally and globally. Governments can provide subsidies to farmers as the US government does, or restrict foreign companies from doing business within their borders, as India did to Coca-Cola in the seventies. In South Africa we saw Government stop the involvement of Korea Telecoms in Telkom SA. South African encourages an environment which is conducive to innovation to stimulate growth in industries by skilled resources and technological base. These factors are upgraded / deployed over time to meet the demand. Local disadvantages force innovations and new methods and hence comparative advantage. http://www.franteractive.net/Porter-Diamond.html: 8 March 2013 Here, disadvantages in general factor endowments need not necessarily prove disadvantageous, and they can even stimulate the development of competitiveness. If cheap raw materials or labor are available in abundance, firms will often yield to the temptation to rely solely on these advantages, and even to put them to inefficient uses. Conversely, certain disadvantages (high real estate prices, scarce labor and raw materials) can force firms to behave innovatively. This of course presupposes that positive impulses are generated by the other factors. http://www.smartstudentsok.com/porters-diamond-model: 8 March 2013 v. Demand conditions The more demanding the customers in an economy, the greater the pressure facing firms to constantly improve their competitiveness via innovative products, through high quality, and so on. And the more localized the competition, the more directly firms feel it, and the better their performance has to be. 6. Conclusion on Evaluation Bidvest’s corporate culture and managerial competence are also the envy of many. This was illustrated during a recent restructuring exercise, in which all the new senior appointments were recruited from within the business. Thanks to Bidvest Academy designed to instill the culture of problem solving and implementation. We agree that success behind Bidvest is driven by autonomy, entrepreneurship, decentralised businesses and management. Local teams optimise opportunities in their own markets. It is our view that Bidvest is still under geared and we recommend that they further acquire more companies in the global space for further growth. Secondly, the fact that Bidvest’s earnings are in multi-currency and none of the currencies is dollars we find this as yet another opportunity for Bidvest to pursue for further global growth. Even though the barriers to entry in many of the businesses in which Bidvest operates are low, it has established such dominance and efficiency in operation that it is difficult to challenge. The group is also highly debt-averse. It is because of this position that Bidvesst is able to maintain through its ability to generate cash. The biggest challenges facing Bidvest are the current world economy, regulatory and legislative changes imperatives in the countries where it operates, the fact that technology lifecycle is forever getting shorter and shorter and the emerging economic giants from and in China and India. The challenge we faced in our evaluation of Bidvest is that research does not provide much on the company that operates unique business model like Bidvest. This unique business model can also be regarded key to their success and therefore its strengths. In our evaluation we found that because Bidvest is such a complex company which does not fit into the traditional business model and corporate / business strategy capsule for analysis. It has an organizational structure which is so complex and pursues business on a non-standard approach. It offers diversified products and or services to the market. On the other hand the size of Bidvest classifies it as a conglomerate and may need to be looked. Business analysts are increasingly questioning the size of the operation. Many feel that Bidvest needs to consider shedding some of its bulk in order to realize more value for shareholders. In conclusion Bidvest seems to have a solid corporate governance and integrated financial, social, governance and environmental culture. Even though the barriers to entry in many of the businesses in which Bidvest operates are low, it has established such dominance and efficiency in operation that it is difficult to challenge. Despite challenges being posed by China and India, the fact remains that Bidvest were early starters and a will continue to lead for some time. 7. REFERENCE 1. Robert M Grant. 2010. 7th edition A John Wiley & Sons, Ltd, Publication Contemporary Corporate Strategy: Text and Cases West Sussex, United Kingdom 2. Hill C.W.L. 2012. 7th Edition. Global Business Today, McGraw-Hill Companies, Inc 3. www.bidvest.co.za 2. http://www.businessdictionary.com/definition/decentralization.html/ 8th August 2013 3. http://www.preservearticles.com/201101143290/decentralization-and-explain-its-advantages-and-disadvantages.html/ 8th August 2013 4. http://www.smartstudentsok.com/porters-diamond-model 8th August 2013 5. Bidvest Annual Integrated Report, 2012 6. www.tutor2u.net 7. http://www.meso-nrw.de/toolkit/tools/tools-diamond-2.html 8 August 2013 8. www.moneyweb.co.za 9. http://www.scribd.com/doc/12376024/Advantages-and-Disadvantages-of-Diversification 8th March 2013 10. http://www.franteractive.net/Porter-Diamond.html

Financial Difficulties of Those in Poverty Facing a Mental Illness - Free Essay Example

Sample details Pages: 2 Words: 559 Downloads: 9 Date added: 2019/04/15 Category Society Essay Level High school Tags: Poverty Essay Did you like this example? Annie Harpers article, Relegated to Chronic Poverty: Financial Difficulties Faced by People with Mental Illness in the United States, brings awareness to the financial difficulties that people in poverty face, especially those that are diagnosed with mental illnesses. Along with difficulties from the mental illness itself, managing finances becomes a struggle for people in poverty. In Harpers study, research was conducted to discover more about the financial situation of those that are in poverty and have a mental illness. Don’t waste time! Our writers will create an original "Financial Difficulties of Those in Poverty Facing a Mental Illness" essay for you Create order Research showed the people struggle with providing themselves with basic needs, along with financial resources to manage their mental illness symptoms. In response to these results, Harpers research team provided strategies that would help, not fix, the people with their financial difficulties. Harpers argument, which states that the fact that people that are in poverty and face a mental illness needs attention, is convincing and supported well by providing evidence of financial resources that are available to those in poverty, how impoverished people spend their money, and a way to help the people manage their finances. According to Harpers research, services for those in poverty focus mainly finding paid work; however, the people in poverty rarely hold a long-term job, which provides a disadvantage since a long-term job would provide some medical insurance to help their mental illness symptoms. This supports Harpers argument that people in poverty with a mental illness face financial difficulties that If a person in poverty that is diagnosed with a mental illness cannot hold a job that possibly provides medical insurance or a one that provides a steady income to pay for medical expenses, how is a person supposed to pay for their basic needs and treatment for their mental illness? It is often said that people in poverty have problems finding financial resources to support their basic needs, let alone the needs that are associated with a mental illness. When looking at how the research subjects dealt with their financial resources, it was discovered that most of the money they earned or received was spent on basic needs: bills, food, and water. This budget doesnt allow the people to pay for treatment of their mental illness. The research provides evidence for Harpers that impoverished people that are diagnosed with a mental illness face financial difficulties that are worth bringing brought to societys attention. As part of the research, Harper also wanted to provide some financial strategies that could help the people better manage their finances. As part of the program, the research subjects had to meet with a financial counselor to find more efficient ways of managing their financial resources. Although the project was able to help some way for some subjects, the overall need for more financial resources for these people is too great to solve their financial difficulties, which continues to support Harpers argument that the financial difficulties these people face need to be brought to the attention of society. The financial difficulties that people in poverty with a diagnosable mental illness face is an issue that needs to be brought to the attention of society. Harpers argument is supported by evidence of financial services that are offered to those that are in poverty, ways that the people use their financial resources, and ways that have helped some people with managing their financial resources, even though they havent completely solved their issues.

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Climate Change Business Risks and Consequences - MyAssignmenthelp

Question: Discuss about the Climate Change Business Risks and Consequences. Answer: Introduction: Seven west Media Ltd is a listed company in the ASX and is one of the largest diversified media business in Australia. The company was formed after West Australian Newspapers acquired Seven Media Gruop. The company has dominance in the media industry, having a leading presence in radio, television broad cast, online and magazine publishing as well as newspaper publishing(Advanced audit and assurance, 2013). The company has grown to be the largest commercial television network in Australia and is still making moves to create value to its shareholders by merging and acquiring various companies to boost its bottom line. The company announced that it intends to merge with West Australian Newspaper Holding Ltd (WAN) in a bid to increase its market share(Audit and assurance services (UK), 2007). Companies face all kinds of risks, some are likely to cause serious losses or even bankruptcy. Seven media Ltd has put up departments that deal with risk management. The following are the risks that Seven West Media Ltd faces in the environment that it is operating under. In a world where changes are occurring everyday that may affect the business, it is important for a business to have proper and well laid plans that may counter technological changes, new media companies entering the market, shifts in customer demand and changes in price of raw materials. This is why Seven West Media Ltd has been merging and acquiring other companies to minimize this risk(BPP LEARNING MEDIA., 2017). Laws change all the time and there is always a risk that a company will be required to comply with additional laws and regulations in future. The company should ensure that it complies with all the necessary laws of the land because it may risk closure. Being a company that is listed in the Australian Stock Exchange, the company faces numerous laws for its shares to be traded in the bourse. Australia has put in place many laws to regulate the media industry and others laws are still being made, thus the company faces the risk of not complying with new laws of the land. The company still faces compliance risk by expanding the product line(Audit and assurance (United Kingdom), 2012). This is an internal risk that stems out of the companys day to day operations. The failures of the company, for example, server outage, machine break down, technical failure, people and processes are all forms of operational risks. For a media company, such failures can result to huge losses in terms of profits and market share. In some instances, operational risks may stem out from events that are out of control by the company such as power cut, natural disaster or even a problem with the companys website host. This is why the company needs to put in place measures that may mitigate against this type of risk(Bagshaw, n.d.). This is type of risk refers to the money flowing out and into the company and the possibility of loss of finances(Graham, 2008). For example if a substantial part of the companys profit coming from one stream and debts from the financiers. Business risk industrial level Business risks can be included within the strategic risks of an organization. Strategic risks are risks that arise from the strategic position that the organization takes in the environment in which it develops its activity, therefore they have a double source: on the one hand the own strategic decisions that the organization takes and on the other the environment in that these decisions materialize. In that sense, we can distinguish business risk fro economic risk(Mesa Graziano and Holtzman, 2005). Business Risks: Risks of strategic decisions about products and services or about the organization itself. Non-business risks: External risks arising from the organization's environment, for example from competitors, regulators, public authorities, society, Compliance risks- in the media industry, compliance with the rules and regulations of the industry is required. The relevant regulatory authority must ensure that the laws are followed for compliance purposes. Failure to comply will lead to punitive measures and actions against the media house. Financial risk- this is the risk that the company faces due to its failure to comply to its financial needs. Financial risk leads to crippling of the company in terms of its financial requirements and operational inefficiencies. Operational risk is also another risk that seven can face in the business and the industry due to inability of the company to efficiently do its business. The operations of the business will lead to risks that are either inherent or outside the scope of the company(Mesa Graziano and Holtzman, 2005). Reputational risk- can be brought by the company having a bad name and it takes time for it to recover the good name that it previously had When the auditor supports his or her work with the use of the work of an expert does not mean that when expressing an audit opinion diminishes the responsibility of the auditor, however, the auditor may conclude that the expert's work is adequate for his purposes and accept the findings or conclusions in the field of expertise of the expert as a valid argument in the audit for support as evidence(Carey and Stulz, 2006). When management has made use of the work of an expert for the preparation of financial statements, the auditor may, as previously stated, determine whether it requires the use of the work of an expert or not, but this does not negate that there may be some kind of influence on the procedures performed by the management expert, their scope, objectives, capabilities, competencies and so on with respect to the auditor, thus enabling the auditor to make sound decisions in accordance with the referents previously consulted. Nature, timing and scope of audit processes: When using the work of an expert, it is possible that the risk of detecting significant risks may increase, as there may be limitations of knowledge in certain particular fields other than accounting or audit that the management or the auditor cannot unravel in a simple way. Although the auditor who is not an expert in a relevant field other than accounting and / or auditing may obtain sufficient training, which may be the result of experience in other auditing entities that have required expertise in a particular field in the process of the financial statements, or in the same way the auditor can obtain it with education, courses or other moments that have allowed him to have an understanding in a particular field, so that the auditor can perform the audit without the use of an expert. Preliminary Analytical Procedures Liquidiy Ratio Specific ratio Formulae 2016(in millions) 2015(in millions) Current Ratio Current assets/ Current Liabilities 631/460=1.37 574/412=1.39 Quick Asset Current assets-inventory/ Current Liabilities 631-22/460=1.32 574-22/412=1.34 Cash flow ratio Cash flow from operations/current liabilities 202/460=0.44 283/412=0.69 Preliminary Analytical procedures Ratio Specific ratio Formula Year 2015 Year 2016 Profitability Ratio Net profit ratio Profit Margin = Net Income / Net Sales (revenue) (386)/2780 =(0.139) 197/2828 =0.07 Return on total assets ratio ROTA= EBIT/Total Net Assets Where EBIT= Net Income + Interest expense Tax (768)/5361 =0.143 208/5231 =0.039 Return on shareholders equity ratio RSE= Net profit/ Shareholders Equity (386)/2797 =(0.138) 197/2655 =0.07 Solvency Ratio Times interest earned ratio TIE= EBIT/ Interest expense ( 768)/103 =( 7.45) 208/94 = 2.212 Debt to equity ratio Debt to equity ratio= Total Liability/ Total Equity 460/1195 =0.385 412/1253 =0.329 Trend Analysis 2016(in millions) 2015(in millions) Increase/decrease %change Revenue 1721 1770 -49 49/1770=2.7% Income 184 (1881) 2065 109.8% Net cashflow from operating activities 202 283 -81 28% Expenses 561 579 -18 3.1% Cost of sales 675 694 -19 2.7% The ratios in liquidity seem to be decreasing from 2015 to 2016. The current ratio drops from 1.39 to 1.37 in 2015 and 2016 respectively. In this case the company is doing well although marginally. The company has started to be profitable in 216. In the previous year 2015 it was running at a loss where all the profitability ratios were a negative ratio. In 2016, the company is doing well. Times interest earned ratio increases in 2016 but the debt to equity ratio decreases in 2016. This means that the company earned well in 2015 but reduced its interest earning in 2016. Fraud in a company is almost prone to happen if a company has weak internal control systems to militate against fraudulent activities. A company may face the following fraud risk ; Financial fraud- this is the most common type of fraud faced by companies in the media business and industry. It is orchestrated by rogue employees or external forces that are willing to gain financially from the company. Seven has strong internal financial controls that help in safeguarding and securing their finances. Other fraud may include insurance fraud, fraudulent statements or misstatements of financial reporting and bankruptcy. In this cases of fraud, International audit standard 620 basically defines the auditor's responsibilities when he is auditing the financial statements and finds certain areas in which he does not have the capacity to dictate, due to the limitations in specific knowledge detected, for which he links the work of a person or specialist organization in a field other than accounting and auditing, ie the work of an expert who is characterized by sufficient skill, knowledge and experience in that field and that in some way this procedure seeks to assist the auditor to obtain sufficient appropriate audit evidence(Atkinson, n.d.). Going concern is the assumption that a company will continue to be operational in the foreseeable future.It is important to note that there are many risk factors for the going concern assumption and that the company may risk its operational ability(Berk and DeMarzo, 2017). The risk factors of seven in going concern include the following; financial fraud that may affect normal business operations of seven rendering it nonfunctional and almost defunct. Regulatory and compliance risk where the regulator which is usually the government in many cases comes up with strigent measures that affect the media leading to closure of business. Other risks include business risk where the environment becomes non conducive leading to the company being a gone concern(Krainer, 2003). Competition is a risk factor that emanates from related parties. This is because seven will face a lot of competition from the industry peers and therefore being a risk factor.? Inherent Risk Assessment Inherent Risk Accounts and Assertions Affected Reason Audit risk Cash and bank account- and the assertions are that a lot of financial resources will be put into the audit risk to see the risk involved. The reason why the account is affected is because these risks involves financial resources consumption of the company where the accounts are usually bank and cash accounts operated. Operational risk Profit and loss account- and the assertions are that a lot of financial resources will be put into the audit risk to see the risk involved The reason why the account is affected is because these risks involves financial resources consumption of the company where the accounts are usually bank and cash accounts operated. Financial risk Cash and bank account- and the assertions are that a lot of financial resources will be put into the audit risk to see the risk involved The reason why the account is affected is because these risks involves financial resources consumption of the company where the accounts are usually bank and cash accounts operated. Business risk Cash and bank account- and the assertions are that a lot of financial resources will be put into the business risk to see the risk involved The reason why the account is affected is because these risks involves financial resources consumption of the company where the accounts are usually bank and cash accounts operated. Compliance risk Cash and bank account- and the assertions are that a lot of financial resources will be put into the audit risk to see the risk involved The reason why the account is affected is because these risks involves financial resources consumption of the company where the accounts are usually bank and cash accounts operated by Seven company. Reputational risk Good will account of the company- and the assertions are that a lot of financial resources will be put into the rectifying the good image of seven involved. The reason why the account is affected is because these risks involves financial resources consumption of the company where the accounts are usually bank and cash accounts operated. Inherent risk level of Seven Inherent risk in the Audit of Seven West Media Ltd financial statements is high because the company operates in a sector that is highly regulated and also because the company has a network of other related entities such as its subsidiaries which could be misrepresented in their financial statements in the absence of relevant financial controls. Inherent risks for the audit of Seven West Media ltd is also high because the audit firm that is conducting the audit has a relatively less understanding of the company(Brealey, Myers and Allen, 2017). Ownership structure: the ownership structure of seven as a listed company is reasonable corporate governance mechanism that ensures that there is effective functioning of the internal controls systems. There is centralized and decentralized ownership, where majority of of equity is held by individual shareholders and there is no balance between interest of the shareholders and the largest shareholders who at times abuse their control which is a serious impediment to internal control(Van Frederikslust, Ang and Sudarsanam, 2008). Validity of interior control: The companys board of directors is an important part of corporate governance of the organization. Their characteristics have a significant effect and impact on the internal control of the company(Stoner and Wankel, 2012). Conclusion The control risk level of Seven West Media ltd is low. This is because as a listed company, the company must have proper controls to achieve required standards of financial reporting and disclosure objectives. There is a corporate code of conduct, procedures and policies , fraud prevention efforts and other activities put in place to reduce any chance of fraud in the company. References Advanced audit and assurance. (2013). Wokingham, Berkshire: Kaplan Pub. Atkinson, S. (n.d.).The business book. Audit and assurance (United Kingdom). (2012). London: BPP. Audit and assurance services (UK). (2007). London: BPP. Bagshaw, K. (n.d.).Audit and assurance. Berk, J. and DeMarzo, P. (2017).Corporate finance. Harlow: Pearson Education Limited. BPP LEARNING MEDIA. (2017).ACCA F8 AUDIT AND ASSURANCE. [Place of publication not identified]: BPP LEARNING MEDIA. Brealey, R., Myers, S. and Allen, F. (2017).Principles of corporate finance. New York, NY: McGraw-Hill Education. Carey, M. and Stulz, R. (2006).The risks of financial institutions. Chicago: University of Chicago Press. Eckbo, B. (2008).Handbook of corporate finance. Amsterdam: North Holland. Graham, L. (2008).Internal controls. Hoboken, N.J.: John Wiley Sons. Krainer, R. (2003).Corporate finance, governance and business cycles. Amsterdam: Elsevier. Mesa Graziano, C. and Holtzman, M. (2005).Management's reports on internal controls. Florham Park, N.J.: FERF. Stoner, J. and Wankel, C. (2012).Managing climate change business risks and consequences. Palgrave Macmillan. Van Frederikslust, R., Ang, J. and Sudarsanam, P. (2008).Corporate governance and corporate finance. London: Routledge.

Woodrow Wilson free essay sample

A look at Woodrow Wilson, the 28th president of the USA. This paper looks at the 28th president of the USA, Woodrow Wilson. The author touches on his background, the Clayton Anti-trust act, the Federal Reserve act, and The Underwood. The author also discusses women and African American rights and what Wilson did during his administration. Thomas Woodrow Wilson, the schoolmaster in politics, was our 28th president. He was born on December 28,1856 in Staunton, Virginia, son of Joseph Ruggles Wilson and Janet Jessie Woodrow Wilson. He was raised in a Scottish-Irish Presbyterian family. During the civil War, the Wilson family moved to Augusta, Georgia, where he was educated at a private school in Augusta. Woodrow Wilson free essay sample The name of the person I read about is Woodrow Wilson,but when he was young people called him Tommy. When Tommy was only a year old his father [Dry. Wilson]moved his family and him from Virginia to Augusta,Georgia. He moved in 1857. Tommys father became pastor of the First Presbyterian Church in Augusta,Georgia. Woodrow came from a strict,caring household. Dry. Wilson liked to take Woodrow places like cotton mills,iron and steel foundries,and other local industries. He did that to teach Woodrow the manufacturing processes. Dry. Wilson also taught Woodrow respect for other people.His motherless Wilson] was shy and reserved,but looked and acted like Woodrow. Woodworks life was different from mine by the way he went to school. His father taught him till he was nine,and then he went to school. Woodrow spent some of his spare time with his gang, called the Lightproof Club. We will write a custom essay sample on Woodrow Wilson or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Also when Woodrow was fourteen,his education was continued at a private school with fifty boys enrolled that cost seven dollars an hour. One of the parts of the book that I liked was when Woodrow Wilson won the Presidency. One of the things that helped him win was when he made two alliances. En alliance was made with Colonel Edward M. House. The other was made with William Macombs. Both of these alliances profound effect on his future. A sad Incident that happened In this story was when Woodrow suffered his paralytic stroke. Rumors spread that Woodrow was Incapable of handling even the smallest duties. Wilson kept succeeding though. There was still many people that believed in him. If I could choose one thing that Wilson did that I could do It would be a lawyer. Flirts of all most lawyers make a good living. Another thing Is that people depend on you.Affably It would be challenging for me. The main thing that Wilson Is remembered for Is being President. He really put a lot of effort Into being President. He worked hard,he acted In control,and he acted mature about the situations he was Len. The mall thing Is that he succeeded with what he was doing. Wilson was different In ways. He was business-Like In some ways,and more regular In other ways. An example of when he was business-Like was when he Is In office at his Job. An example of when he was more regular Is when he was at home. Wilson was always smart no matter what situation he was Len.Wilson was also a caring and honest person about his family and his country and also he was not selfish at all. Respect for other people. His motherless Wilson] was shy and reserved,but looked A sad incident that happened in this story was when Woodrow suffered his paralytic stroke. Rumors spread that Woodrow was incapable of handling even the smallest duties. Wilson kept succeeding though. If I could choose one thing that Wilson did that I could do it would be a lawyer. First of all most lawyers make a good living. Another thing is that people depend on you. Finally it would be challenging for me. The main thing that Wilson is remembered for is being President. He really put a lot of effort into being President. He worked hard,he acted in control,and he acted mature about the situations he was in. The main thing is that he succeeded with what Wilson was different in ways. He was business-like in some ways,and more regular in other ways. An example of when he was business-like was when he is in office at his Job. An example of when he was more regular is when he was at home. Wilson was always smart no matter what situation he was in.