Friday, May 22, 2020

A Pioneer of Expressionism, James Ensor - 1099 Words

The colourful grotesque scenes painted by James Ensor have caused many to place him as a pioneer of expressionism. He is most recognized as the painter of masks and skeletons. However, to place him under one category would be to ignore a large portion of his career, in which he tackled a plethora of techniques, mediums, and subjects. The diversity of Ensors art sets him apart from many other artists, and his experimentation was ceaseless. Ensor was innovative and original, excelling at a great number of things. Until his death in 1949, Ensor constantly proved his ever-expanding artistic ability, expressing himself through his work in any way that he pleased, and refusing to surrender to the standards of others. James Sidney Ensor was born in 1860 to an educated Englishman and a bourgeious Belgium woman in the seaside resort town of Ostend, Belgium. During the summer the streets would be crawling with tourists, eager to take in the sea and partake in a wild Flemish festival. Ensors fa ther, James Frederic Ensor, left for the United States shortly after his sons birth to find work as a civil engineer, but returned to Ostend after the outbreak of the Civil War in 1861. The family of his wife, Maria Catherina Haegheman, owned a small eclectic souvenir shop, in which Ensor found great inspiration. In my parents shop I had seen the wavy lines, the serpentine forms of beautiful seashells, the irridescent lights of mother-of-pearl, the rich tones of delicate chinoiserie (1).

Sunday, May 10, 2020

The Mission Of Valley Mountain Regional Center - 1176 Words

The mission of Valley Mountain Regional Center (VMRC) is to support people with developmental disabilities as they enrich their lives through choices and inclusion. VMRC is committed to securing quality, individualized services in collaboration with families and the community. VMRC is a private, non-profit corporation that contracts with the State of California to provide diagnostic, evaluation, case management, and early intervention services to people with developmental disabilities. Valley Mountain Regional Center serves children and adults with developmental disabilities in San Joaquin, Stanislaus, Amador, Calaveras and Tuolumne counties. 1,614 children under age 3 and their families are served in VMRC’s Early Start Program which†¦show more content†¦Then you meet with a psychologists and along with all the assessments and paperwork, and his observation. You received a final diagnosis in which the school social worker is present at all times for any questions or concerns. According to â€Å"Introduction to Human Services†, in general, school social workers exist to assist children in managing any psychosocial issues that are creating a barrier to learning. These could include physical barriers I the form of a disability, cognitive barriers such as intellectual or learning disabilities, or behavioral barriers such as students who are depressed, anxious, or acting out. School social workers also work to develop, enhance, or maintain a close working relationship between student families and the school, advocating for the family in a variety of situations,(Martin, 2014, pg. 278). I observed the interviewee as a concerned and caring mother who wanted the best for her child with autism. She was educated enough to know it was a process beyond her knowledge. The mother is a young Caucasian adult with a college education, she allowed the process and was opened minded with what the coordinators and specialists had to say. Stating, that it cou ld be difficult to get resources because the client is unsure where he or she is to go and turn to. Autism is a disorder of social interaction, communication and behavior. Autism typically manifests itself within the first three years of life and there is usually cognitive

Wednesday, May 6, 2020

Gmo Lab Report Free Essays

Introduction During the course of this lab, we explored whether or not certain processed foods contained Genetically Modified Organisms. Genetically modified food is an important subject in the world today. Ever since Flavr Savr came out with their tomatoes grown from genetically modified seeds in 1994 genetically modified foods has become ever more popular amongst distributors of produce (Mestel, 2013). We will write a custom essay sample on Gmo Lab Report or any similar topic only for you Order Now The world’s population has grown by around one billion in the last decade (US Bureau of the Census). At this rate, Genetically Modified Organisms within food products will increase dramatically, but is this for the best? There are many risk factors that have been brought up with genetically modified foods such as potential increase of cancer according to a French study conducted by Dr. Giles Eric Seralini (Kilham, 2012). Genetically modified food is a popular subject among scientists, as it has been researched quite often. A study was done in the Czech Republic over a course of five years (2002- 2007) to test many foods, such as tomatoes and rice, for approved and unapproved Genetically Modified Organisms. Similar to the experiment conducted in the botany lab, the scientists involved in this study used a Polymerase Chain Reaction, or PCR, method to determine their results (Kyrova, Ostry, Laichmannova, Ruprich, 2010). Enrico Dainese and his partners did another similar study, on soybeans specifically. Like our experiment conducted on the cornbread mix, Dainese and his colleagues followed their PCR results with an Agarose Gel Electrophoresis (Dainese, Angelucci, De Santis, Maccarrone and Cozzani, 2004). An additional experiment closely related to the one performed by my partners and I is a study done in Brazil to better detect for GMO within their foods sold in markets a other places (Cardarelli, Branquinho, Ferreria, da Cruz and Gemmule, 2005). These articles show how GMO within foods are present all over the world. The reason my fellow group members and myself are conducting this experiment is to test a sample of processed food (in this case cornbread mix) for any existence of Genetically Modified Organisms using PCR methods. We hypothesize that the cornbread mixture has been genetically modified and herefore will show that in the results. Materials and Methods The purpose of this experiment is to use PCR method to identify genetically modified foods. During the experiment we, as a group, tested a known non- GMO food sample, oatmeal, along with our cornbread mix. We first weighed out 0. 77 g of the non- GMO oatmeal. We then proceeded to add 3. 85 ml (5. 00 ml per 1. 00 g) of disti lled water (DW) to the oatmeal and ground them together with a pestle. The same was done with 0. 99 g of the cornbread mix and 4. 95 ml of DW. We pipetted each of these into separate screw-cap tubes consisting of 500 l of an InstaGene solution. These we incubated and centrifuged for approximately 5 minutes each. We then took six PCR tubes and filled them each up, 2 with the non- GMO oatmeal mixture, 2 with the cornbread mixture and 2 with a known GMO positive substance. The Non- GMO and GMO positives served as controls for the experiment. One of each of the two tubes contained 20 l of plant MM and GMO MM. The PCR tubes were then placed in a thermal cycler and after this we did an agarose gel electrophoresis to provide us with the necessary data received from bands that should’ve shown up n the gel. Results Even though we had followed procedure and accurately mixed the correct amount and type of DNA and Master Mix together, as shown in Table 1, we ended up getting shocking results. Photos were taken of the final gel slab the morning of the experiment (Fig. 1) and that same afternoon (Fig. 2). There seemed to be very little signs, if any, of Genetically Modified Organisms within the cornbread mixture. TABLE 1. PCR Tube Contents: Tube Number| Master Mix| DNA| 1| 20 l Plant MM (green)| 20 l Non- GMO food control DNA| 2| 20 l GMO MM (red)| 20 l Non- GMO food control DNA| | 20 l Plant MM (green)| 20 l test food DNA| 4| 20 l GMO MM (red)| 20 l test food DNA| 5| 20 l Plant MM (green)| 20 l GMO positive control DNA| 6| 20 l GMO MM (red)| 20 l GMO positive control DNA| FIGURE 1. GMO Morning (AM) Agarose Gel Electrophoresis results FIGURE 2. GMO Evening (PM) Agarose Gel Electrophoresis results Discussion: The purpose of this experiment was to determine whether or not a sample of an off-brand corn bread mix had contained Genetically Modified Organisms (GMO). As a result, we determined that there were no GMO traces located in the cornbread mix. This could be due to mistakes that may have been made during the procedure such as poor measuring or mixing, misreading results, or the cornbread mix really was not made with genetically modified foods. These results disprove our hypothesis, which stated that we believed there would be GMO traces found within the cornbread mix. It was disappointing to see that we had a negative result while many of the other groups received bold lines on their arag gel indicating that their foods contained high amounts of GMO. I was glad to see that not all processed foods contain it though as in with the results of the Czech Republic study. Out of all the tomatoes and papayas they tested, not one had resulted in the detection of GMO traces (Kyrova, Ostry, Laichmannova, Ruprich, 2010). We knew that the gel was accurately detecting GMO traces in foods by using the GMO positive control. Also to back up our assumptions that the Agarose Gel Electrophoresis results are accurate, it is shown in Dainese’s, and other’s, work. He used this method of GMO detection in his study to show that this is an effective way of detecting GMO traces (Dainese, Angelucci, De Santis, Maccarrone and Cozzani, 2004). It is interesting to see how genecticall modified foods are not only in the US but also in the Czech Republic and even in Brazil markets, where Cardarelli and his associates looked into Roundup Ready soybeans and checked other substances for GMO traces (Cardarelli, Branquinho, Ferreria, da Cruz and Gemmule, 2005). Though I was disappointed to get negative results, I am happy that there was a variety in GMO traces within the whole lab. I don’t know if we would have learned much if we all got positive results. It would cause us to just assume that all processed foods have been genetically altered. The other researchers’ results intrigued me as to how different they all were yet they were all about the same thing in a sense. This lab has helped me realize how GMO within foods is affective all around the world and doesn’t just mean that the food is bigger or tastier, but has been affected by chemicals, both good and bad. Literature Cited: Cardarelli, Paola; Branquinho R, Maria; Ferreria T. B. , Renata; da Cruz P, Fernanda; Gemmule L, Andre. 2005. Detection of GMO in food products in Brazil: the INCQS experience. Food Control. 16(10): 859-866. Dainese, E; Angelucci, C; De Santis, P; Maccarrone, M; Cozzani, I. 004. A multiplex PCR-based assay for the detection of genetically modified soybean. Analytical Letters. 37(6): 1139-1150. Kilham, C. What You Need To Know About GM Foods Is Half The Story. 2012 Dec. 07. Forbes Magazine. Kyrova, V; Ostry, V; Laichmannova, L; Ruprich, J. 2010. AN OCCURRENCE OF GENETICALLY MODIFIED FOODSTUFFS ON THE CZECH FOOD MARKET. Acta Aliment aria. 39(4): 387- 396. Mestel, R. 2013 Feb 23. Genetically modified foods: Who has to tell?. Los Angeles Times. US Bureau of the Census. Current Population Projections. 2013. www. census. gov. How to cite Gmo Lab Report, Essay examples

Wednesday, April 29, 2020

Safety glasses analysis Essay Example

Safety glasses analysis Essay The surface finish of the glasses and texture is smooth and polished and the shape of the glasses is suitable to the task. However the overall style and image is unattractive and the aesthetic qualities could be greatly improved. This product is well suited to its purpose as the product is made of a hard material that is not easily broken or shattered. The safety glasses can be adjusted to suit the wearer and are adaptable to all environments in the workshop. This set of goggles are very attractive and aesthetically pleasing, also they are very well constructed and impact resistant therefore they fit their purpose very well. The head strap is adjustable and made of a flexible comfortable material that moulds to the contours of the wearers head. The design of these goggles is very modern and streamlined. They are nicely shaped and very colourful. The lens is tinted and looks nice as well as helping youre the view of the wearer when underwater The Freedo race Swimming Goggles have an angled lens which is designed to reduce the head movement of the swimmer. We will write a custom essay sample on Safety glasses analysis specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Safety glasses analysis specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Safety glasses analysis specifically for you FOR ONLY $16.38 $13.9/page Hire Writer These swimming goggles have a split silicone strap with a self adjusting nose bridge, to enable the swimmer to fit their swimming goggles properly. Welding lenses are an essential safety feature in the welding industry, where sudden flares and intense light can cause eye damage and irritation. It is important for any welder to learn how to select, maintain and equip welding lenses. This lens is easily the most effective because of it protection range and its ability to be easily replaced and maintained.

Friday, March 20, 2020

Reformation essays

Reformation essays Assess the condition of the Roman Catholic Church on the eve of the reformation. In the 1400 - 1500's there were many changes that took place. These changes were religious, political, social and economical. In the 1500, a large part of Europe was Christian. Muslims were common too though, especially in Spain. Europe was small and poor in the 1500's: this was before the spread of literacy. The government was feudal in nature (kings and nobles) The Pope unified Christianity, but the land was divided into nation states. Europe main countries were England, Spain, France, Germany, Italy and the Holy Roman Empire. This division was due to the concern with what was beneficial to themselves. The Holy Roman Empire was called "holy" because it was christianised. The Holy Roman empire was the centre of the roman catholic church as it was the home to the Pope. The History of Holy Roman Empire began with Charlemagne who was crowned by Pope Leo III. The Holy Roman Empire had less than 50 cities, they were independent from the princes. They were centres of culture and wealth. Most people were farmers that did not own their land but paid rent. The structure of the church basically considered of the secular clergy; these were the parish priests, they were responsible for the people the church and society. Then there was Parishes were headed by a bishop in diocese. Then there were Bishops. The Bishop did the sacraments, ordination, confirmation etc. The Bishops were in charge of the school system. Then there was the Archbishop. Bishops and Archbishops were responsible for large areas, therefore they were well paid. Archbishops were elected by other clergy, but these elections soon became a formality. Contact with the bishop or archbishop was mainly for legal or repayment reasons. Then above everybody was the Pope. The Pope "ran the whole show" and had a great many judicial powers The church developed a legal system (church courts). Ecclesi...

Wednesday, March 4, 2020

Pac-Man Video Game History and Background

Pac-Man Video Game History and Background On May 22, 1980, the Pac-Man video game was released in Japan and by October of the same year, it was released in the United States. The yellow, pie-shaped Pac-Man character, who travels around a maze trying to eat dots and avoid four mean ghosts, quickly became an icon of the 1980s. To this day, Pac-Man remains one of the most popular video games in history. Inventing Pac-Man If you ever thought that the Pac-Man character looked like some kind of food, then you and Japanese game designer Toru Iwatani think alike. Iwatani was eating pizza when he came up with the idea for the Pac-Man character. Iwatani has more recently said that the Pac-Man character is also a simplification of the  Kanji character for mouth,  Ã¢â‚¬â€¹kuchi.   While a pizza with a slice out of it turned into the main character of Pac-Man, cookies became the power pellets. In the Japanese version, the pellets look like cookies, but they lost their cookie look when the game came to the U.S. Apparently, Namco, the company that made Pac-Man, was hoping to create a video game that would entice girls to play as well as boys. And everyone knows that girls like food, right? Hmmm. Anyway, a relatively nonviolent, food-based video game with cute little ghosts and a bit of humor did appeal to both genders, which quickly made Pac-Man an unquestionable success. How He Got His Name The name Pac-Man continues the eating theme of the game. In Japanese, puck-puck (sometimes said paku-paku) is a word used for munching. So, in Japan, Namco named the video game Puck-Man. After all, it was a video game about a pizza eating super-powered cookies. However, when it was time for the video game to be sold in the U.S., many were worried about the name Puck-Man, mostly because the name sounded a bit too similar to a particular four-letter word in English. Thus, Puck-Man underwent a name change and became Pac-Man when the game came to the States. Playing Pac-Man Its probably a very rare person who has never played Pac-Man. Even for those who may have missed it in the 1980s, Pac-Man has been remade on nearly every video game platform since then. Pac-Man even appeared on the front page of Google (as a playable game) on Pac-Mans 30th anniversary. However, for those few who are unfamiliar with the game, here are the basics. You, the player, control the yellow, circular Pac-Man using either keyboard arrows or a joystick. The goal is to move Pac-Man around the maze-like screen gobbling up all 240 dots before the four ghosts (sometimes called monsters) get you. The four ghosts are all different colors: Blinky (red), Inky (light blue), Pinky (pink), and Clyde (orange). Blinky was also known as Shadow because hes the fastest. The ghosts begin the game in the ghost cage in the center of the maze  and roam around the board as the game progresses. If Pac-Man collides with a ghost, he loses a life, and the game restarts. If Pac-Man eats one of the four power pellets available on each level; the ghosts all turn dark blue and Pac-Man is able to eat the ghosts. Once a ghost is gobbled up, it disappears- except for its eyes, which run back to the ghost cage. Occasionally, fruit and other objects appear on the screen. If Pac-Man gobbles those up then he earns a point bonus, with different fruit worth different values. While all this is happening, Pac-Man makes a wocka-wocka sound that is nearly as memorable as the yellow character itself. The game ends when Pac-Man has lost all (usually three) of his lives. When You Win Many people are impressed with themselves if they get to level five or six on Pac-Man. However, there are always those die-hards out there who are determined to finish the game. Despite how popular Pac-Man was in the 1980s, it actually took 19 years for the first person to ever finish Pac-Man. That amazing feat was reported to be accomplished by 33-year-old Billy Mitchell, who finished Pac-Man with a perfect game on July 3, 1999.   A Scandal in Gaming Mitchell completed all 255 levels of Pac-Man. When he reached level 256, half the screen became jumbled. This is an impossible level to complete and thus the end of the game. It took Mitchell about six hours to win the game and he did so with the highest possible score- 3,333,360 points. Mitchell went on to record record-breaking runs in Donkey Kong, Donkey Kong Jr., and Centipede, and became a mini-celebrity, named as Gamer of the Century, featured in Life magazine in 1982 and in the 2007 movie The King of Kong: A Fistful of Quarters. In 2018, however, Twin Galaxies, the American organization that tracks video game records, announced their discovery that some of Mitchells record-breaking runs were not achieved on an arcade machine, but rather using emulation software, a violation of the rules. All of Mitchells titles, including his Guinness World Records, have since been stripped. Pac-Man Fever In the early 1980s, the nonviolent and goofy nature of Pac-Man made it a phenomenal attraction. In 1982 an estimated 30 million Americans spent $8 million a week playing Pac-Man, feeding quarters into machines located in arcades or bars. Its popularity among teenagers made it threatening to their parents: Pac-Man was loud and stunningly popular, and the arcades where the machines were located were noisy, congested places. Many towns in the United States passed statutes to regulate or restrict the games, just as they were allowed to regulate pinball machines and pool tables to combat gambling and other immoral behaviors. Des Plaines, Illinois, banned people under 21 from playing video games unless they were accompanied by their parents. Marshfield, Massachusetts, banned video games outright. Other cities used licensing or zoning to limit video game playing. A license to run an arcade could stipulate that it had to be at least a certain distance from a school, or it could not sell food or alcohol. Ms. Pac-Man and More The Pac-Man video game was so immensely popular that within a year there were spin-offs being created and released, some of them unauthorized. The most popular of these was Ms. Pac-Man, which first appeared in 1981 as an unauthorized version of the game. Ms. Pac-Man was created by Midway, the same company authorized to sell the original Pac-Man in the U.S. Ms. Pac-Man became so popular that Namco eventually made it an official game. Ms. Pac-Man has four different mazes with varying numbers of dots, compared to Pac-Mans only one with 240 dots; Ms. Pac-Mans maze walls, dots, and pellets come in a variety of colors; and the orange ghost is named Sue, not Clyde. A few of the other notable spin-offs were Pac-Man Plus, Professor Pac-Man, Junior Pac-Man, Pac-Land, Pac-Man World, and Pac-Pix. By the mid-1990s, Pac-Man was available on home computers, game consoles, and hand-held devices. Lunch Boxes and Other Collectibles As with anything super popular, merchandising went wild with the Pac-Man image. You could purchase Pac-Man T-shirts, mugs, stickers, a board game, plush dolls, belt buckles, puzzles, a card game, wind-up toys, wrapping paper, pajamas, lunch boxes, sheets, bumper stickers, plus so much more. In addition to buying Pac-Man merchandise, kids could satisfy their Pac-Man cravings by watching a 30-minute Pac-Man cartoon that started airing in 1982. Produced by Hanna-Barbera, the cartoon lasted for two seasons. In case you really wanted that wocka-wocka sound to stay in your head, listen again to the 1982 song by Jerry Buckner and Gary Garcia called Pac-Man Fever, which made it all the way up to No. 9 on Billboards Top 100 chart. Although the decade of Pac-Man Fever might be over, Pac-Man continues to be loved and played year after year. Sources Crecente, Brian. King of Kong Star Stripped of High Scores, Banned from Competition. Variety April 12, 2018.Gallagher, Marcus, and Amanda Ryan. Learning to Play Pac-Man: An Evolutionary, Rule-Based Approach. The 2003 Congress on Evolutionary Computation, 2003. CEC 03. 2003. Print.Goroff, David B. The First Amendment Side Effects of Curing Pac-Man Fever. Columbia Law Review 84.3 (1984): 744–74. Print.Lucas, Simon. Evolving a Neural Network Location Evaluation to Play Ms. Pac-Man. IEE 2005 Symposium on Computational Intelligence and Games. Ed. Graham Kendall and Simon Lucas. Essex University, 2005. Print.Moore, Mike. Videogames: Sons of Pong. Film Comment 19.1 (1983): 34–37. Print.Rife, Katie. King of Kongs Billy Mitchell Has Been Stripped of All His High Scores, Banned From Competitive Gaming. AV News April 12, 2018.Yannakakis, Georgios N., and John Hallam. A Generic Approach for Generating Interesting Interactive Pac-Man. IEE 2005 Symposium on Computational Intelligence and Games. Ed. Graham Kendall and Simon Lucas: Essex University, 2005. Print.

Monday, February 17, 2020

Infrastructure Development Assignment Example | Topics and Well Written Essays - 1000 words

Infrastructure Development - Assignment Example The flow, pressure, velocity and other properties remains unchanged in laminar flow. Laminar flow taking place over a horizontal surface may actually be taken to consist of laminae which are parallel to one another. The fluid that is in contact with the horizontal surface is definitely stationary, but the other layers are constantly sliding over each other. When a gas or liquid flows through a path or point, there are different parameters related to the fluid flow, thus certain parameters may vary while others may be relatively constant. The two common features of fluid flow are fluid particles pressure, velocity and element of the fluid in regard to the point that is being considered. Fluid flow can therefore be classified in various patterns that are based on flow parameters variation in relation to time and distance. By its definition, for a uniform flow to occur, the cross-sectional area should basically be constant. A good example is liquid flowing thorough a pipe of constant diameter. On the other hand, flow of a liquid through a pipeline having variable diameter would therefore be called non-uniform. In fluid mechanics, Reynold’s Number refers to a dimensionless number that is very important in designing a model of system in which the viscosity effect is very critical as far as controlling the fluid pattern flow or velocities are concerned. It is symbolized as NRe, and is also referred to as Damkà ¶hler number V (DaV). It has been noted that pressure and velocity as well as other fluid flow properties can time functions. If a fluid flow is in such a way that the properties at all points of flow are not dependent on time, it is then referred to as a steady flow. Speaking in mathematical terms, non-steady or unsteady flows are the flow properties are not dependent on time. The formulae are derived from the related mathematical equation when water is permitted to flow in

Monday, February 3, 2020

Current Economic Issues in the Asia-Pacific Region Research Paper

Current Economic Issues in the Asia-Pacific Region - Research Paper Example Japanese political administration and economic pundits are working hard to revive the ailing Japanese economy. However, these efforts were not met with success yet. Economists have different opinions about the reasons of economic crisis in Japan. Some of them blame macroeconomic factors whereas others blame microeconomic factors for Japan’s economic crisis. In any case, it is a fact that the present economic climate in Japan is not so good compared to that in the 60’s and 70’s. Chris Burges, in his article, "Can Immigration Reform Really Save Japan?" argues that immigration may help Japan immensely in regaining its economic growth back on track. He has pointed out that out of the forecasted 86 million population in Japan by 2060, 40% would be over the age of 65. In other words, rising life expectancy and falling birth rates cause rapid ageing in Japan. Burges argue that without immigration, Japan may struggle to find enough labor power to meet the requirements in near future. This paper analyses the claim that immigration reform can really save Japan. According to Hidenori Sakanaka, a former director of the Tokyo Immigration Bureau, Only immigration can save Japan. He proposes bringing in 10 million migrants over 50 years (Burges). It is a fact that Japanese products are still number one in terms of quality in global market. Chinese products are dominating in global market at present, primarily because of the cheap price. On the other hand, quality conscious consumers still go for Japanese products if they are capable of spending few dollars more. In other words, higher price is the major problem which prevent Japanese products from competing in international market. The major reason for the higher prices of Japanese products is the expensive labor. In other words, manpower shortage is a severe problem in Japan at present. It should be noted that China

Saturday, January 25, 2020

Porters Five Forces Analysed The External Environment Industry Marketing Essay

Porters Five Forces Analysed The External Environment Industry Marketing Essay Among the different choices, Apple has chosen the differentiation focus strategy in the broad industry. The invention and development of products by Apple are its highly unique attributes, with devices such as the iPhone, iPod and iPad where the use touch screen and other interfaces to operate the products. Apple spends billions of dollars every year on RD (Research and Development) to develop and promote its products in order to achieve superior quality over competitors products. Apple slogan is Think Different, which drives them to innovate and provide high quality regarding their products. Apples markets are global, but they are focusing on active markets such as America, the EU and some Asian countries. However, Apple focuses on a market segment where customers clearly feel that Apple provides value for its customers. In addition, Apple had a positive growth rate during the economic crisis of 2007-2009 (Business week, 2010). Apples premium price strategy and its success have beco me a significant barrier to competitors such as Nokia, Motorola, HTC and the E-book by Sony. Porters Five Forces Analysis Porters Five Forces analysed the external environment of the industry in order to give a better understanding of the strengths and weaknesses within the organisation. These analyses give the company the ability to identify the opportunities and threats from external factors (Harrison, 2003). These forces include: Threat of new entrants For each of its product lines, Apple, like any other company, faces rigorous competition. This high-tech industry requires continual research and development (RD). This sector is difficult for new companies to enter because new entrants must spend a large amount of capital on RD and on the advertising and promotion of their brand. There are some dominant producers in this sector such as Apple, Microsoft, Dell and Sony, who share the majority of the market. Apple should be aware of new entrants because they may come up with surprisingly better technology or a better product. However, these new entrants are less of a threat because it is difficult to enter and penetrate the market in a limited time (Harrison, 2003). Power of the supplier Porters second force states that the bargaining power of suppliers imposes a threat to any company. It also includes, the availability of substitute suppliers which is an important factor in determining the power of the supplier. Suppliers are known as third parties in this industry, and they are classified in two groups. The first group makes the major parts for the products. This group is not strong because of the availability and easy of replacing the items they make, such as batteries, wire connections, screens and other internal components. In contrast, the second group provides accurate parts and important programmes such as flash-memory and DRAM. This group is strong because of their specialized and advanced products, as well as the lack of alternative products (Nistor, 2010). There are some suppliers who dominate the market; for example, Intel, Microsoft and Sony. So, it is important for Apple to have a good relationship with its suppliers. Power of the buyer The buyers bargaining power is very high in the industry because competitors offer a wide range of similar products with competitive prices. The Apple Corporation faces a moderate threat from buyers because they have a lot of products that consumers can choose from. In addition, the threat of buyers comes from their demand for new features in Apple products. However, there are a large number of companies that offer similar products and there is quite a big differentiation in price and performance. Therefore, loyalty is often shown towards a specific brand because there are not many differences in the quality and price between brands (Nistor, 2010). Buyers are often more sensitive to brand rather than price. Apples customers are individuals, education departments, enterprises, governments and creative customers. So, the variety of consumers and their needs has a direct impact on Apples future strategies. Threat of substitutes The technological environment is changing fast every day. There are not many substitutes in this industry because of the high-tech features. However, alternatives are always available from competitors. If some other company such as BlackBerry, Google, Samsung or Microsoft come up with new technology or the same kind of phone at a lower price or with more features at the same price, then this is a problem for Apple (O Grady, 2009). Customers usually tend to look to the latest technology instead of traditional methods. Apple has the ability and efficiently to design and develop its own hardware and application software to become unique and distinct from its competitors. Competitive rivalry The competition in this industry is very high, almost in all areas of business, because of the continuing requirement to provide new products all the time. Competitive prices, new products, design innovations and technology are the main factors that Apple has to compete with other international companies on, such as IBM, HP, Acer and Dell. The consumers choices also differ; some prefer to save some cash rather purchase high performance specification technology and some prefer the newest technology. So, the result is that companies implement different strategies; for example, low-cost and best-cost strategies. Some manufacturers offer products at the lowest price in an attempt to cut their costs by ignoring everything except some basic features. Some other companies in the middle price range, such as Dell and HP, focus on attracting customers by offering varying prices. And the top of the range companies, like Apple, gain customers through their high quality products, features and inn ovative design, which makes their products popular all over the world (O Grady, 2009). APPENDICES: Porters Generic Strategy model: Porters Five Forces model:

Porters Five Forces Analysed The External Environment Industry Marketing Essay

Porters Five Forces Analysed The External Environment Industry Marketing Essay Among the different choices, Apple has chosen the differentiation focus strategy in the broad industry. The invention and development of products by Apple are its highly unique attributes, with devices such as the iPhone, iPod and iPad where the use touch screen and other interfaces to operate the products. Apple spends billions of dollars every year on RD (Research and Development) to develop and promote its products in order to achieve superior quality over competitors products. Apple slogan is Think Different, which drives them to innovate and provide high quality regarding their products. Apples markets are global, but they are focusing on active markets such as America, the EU and some Asian countries. However, Apple focuses on a market segment where customers clearly feel that Apple provides value for its customers. In addition, Apple had a positive growth rate during the economic crisis of 2007-2009 (Business week, 2010). Apples premium price strategy and its success have beco me a significant barrier to competitors such as Nokia, Motorola, HTC and the E-book by Sony. Porters Five Forces Analysis Porters Five Forces analysed the external environment of the industry in order to give a better understanding of the strengths and weaknesses within the organisation. These analyses give the company the ability to identify the opportunities and threats from external factors (Harrison, 2003). These forces include: Threat of new entrants For each of its product lines, Apple, like any other company, faces rigorous competition. This high-tech industry requires continual research and development (RD). This sector is difficult for new companies to enter because new entrants must spend a large amount of capital on RD and on the advertising and promotion of their brand. There are some dominant producers in this sector such as Apple, Microsoft, Dell and Sony, who share the majority of the market. Apple should be aware of new entrants because they may come up with surprisingly better technology or a better product. However, these new entrants are less of a threat because it is difficult to enter and penetrate the market in a limited time (Harrison, 2003). Power of the supplier Porters second force states that the bargaining power of suppliers imposes a threat to any company. It also includes, the availability of substitute suppliers which is an important factor in determining the power of the supplier. Suppliers are known as third parties in this industry, and they are classified in two groups. The first group makes the major parts for the products. This group is not strong because of the availability and easy of replacing the items they make, such as batteries, wire connections, screens and other internal components. In contrast, the second group provides accurate parts and important programmes such as flash-memory and DRAM. This group is strong because of their specialized and advanced products, as well as the lack of alternative products (Nistor, 2010). There are some suppliers who dominate the market; for example, Intel, Microsoft and Sony. So, it is important for Apple to have a good relationship with its suppliers. Power of the buyer The buyers bargaining power is very high in the industry because competitors offer a wide range of similar products with competitive prices. The Apple Corporation faces a moderate threat from buyers because they have a lot of products that consumers can choose from. In addition, the threat of buyers comes from their demand for new features in Apple products. However, there are a large number of companies that offer similar products and there is quite a big differentiation in price and performance. Therefore, loyalty is often shown towards a specific brand because there are not many differences in the quality and price between brands (Nistor, 2010). Buyers are often more sensitive to brand rather than price. Apples customers are individuals, education departments, enterprises, governments and creative customers. So, the variety of consumers and their needs has a direct impact on Apples future strategies. Threat of substitutes The technological environment is changing fast every day. There are not many substitutes in this industry because of the high-tech features. However, alternatives are always available from competitors. If some other company such as BlackBerry, Google, Samsung or Microsoft come up with new technology or the same kind of phone at a lower price or with more features at the same price, then this is a problem for Apple (O Grady, 2009). Customers usually tend to look to the latest technology instead of traditional methods. Apple has the ability and efficiently to design and develop its own hardware and application software to become unique and distinct from its competitors. Competitive rivalry The competition in this industry is very high, almost in all areas of business, because of the continuing requirement to provide new products all the time. Competitive prices, new products, design innovations and technology are the main factors that Apple has to compete with other international companies on, such as IBM, HP, Acer and Dell. The consumers choices also differ; some prefer to save some cash rather purchase high performance specification technology and some prefer the newest technology. So, the result is that companies implement different strategies; for example, low-cost and best-cost strategies. Some manufacturers offer products at the lowest price in an attempt to cut their costs by ignoring everything except some basic features. Some other companies in the middle price range, such as Dell and HP, focus on attracting customers by offering varying prices. And the top of the range companies, like Apple, gain customers through their high quality products, features and inn ovative design, which makes their products popular all over the world (O Grady, 2009). APPENDICES: Porters Generic Strategy model: Porters Five Forces model:

Friday, January 17, 2020

General Electric Essay

The history of General Electric Company is a significant part of the history of technology in the United States. General Electric (GE) has evolved from Thomas Edison’s home laboratory into one of the largest companies in the world, following the evolution of electrical technology from the simplest early applications into the high-tech wizardry of the early 21st century. The company has also evolved into a conglomerate, with an increasing shift from technology to services, and with 11 main operating units: GE Advanced Materials, a specialist in high-performance engineered thermoplastics, silicon-based products, and fused quartz and ceramics used in a wide variety of industries; GE Consumer & Industrial, which is one of the world’s leading appliance manufacturers, stands as a preeminent global maker of lighting products for consumer, commercial, and industrial customers, and also provides integrated industrial equipment, systems, and services; GE Energy, one of the largest technology suppliers to the energy industry; GE Equipment Services, which offers leases, loans, and other services to medium and large businesses around the world to help them manage their business equipment; GE Healthcare, a world leader in medical diagnostic and interventional imaging technology and services; GE Infrastructure, which is involved in high-technology protectiv e and productivity solutions in such areas as water purification, facility safety, plant automation, and automatic environmental controls; GE Transportation, the largest producer of small and large jet engines for commercial and military aircraft in the world, as well as the number one maker of diesel freight locomotives in North America; NBC Universal (80 percent owned by GE), a global media and entertainment giant with a wide range of assets, including the NBC and Telemundo television networks, several cable channels, and the Universal Pictures film studio; GE Commercial Finance, which provides businesses, particularly in the mid-market segment, with an array of financial services and products, including loans, operating leases, and financing programs; GE Consumer Finance, a leading financial services provider, serving consumers, retailers, and auto dealer in about three dozen countries; and GE Insurance, which is involved in such areas as life insurance, asset management, mortgag e insurance, and reinsurance. The staggering size of GeneralElectric, which ranked fifth in the Fortune 500 in 2003, becomes even more evident through the revelation that each of the company’s 11 operating units, if listed separately, would qualify as a Fortune 500 company. GE operates in more than 100 countries worldwide and generates approximately 45 percent of its revenues outside the United States. Over the course of its 110-plus years of innovation, General Electric has amassed more than 67,500 patents, and the firm’s scientists have been awarded two Nobel Prizes and numerous other honors. Thomas Edison established himself in the 1870s as an inventor after devising, at the age of 23, an improved stock ticker. He subsequently began research on an electric light as a replacement for gas light, the standard method of illumination at the time. In 1876 Edison moved into a laboratory in Menlo Park, New Jersey. Two years later, in 1878, Edison established, with the help of his friend Grosvenor Lowry, the Edison Electric Light Company with a capitalization of $300,000. Edison received half of the new company’s shares on the agreement that he work on developing an incandescent lighting system. The major problem Edison and his team of specialists faced was finding an easy-to-produce filament that would resist the passage of electrical current in the bulb for a long time. H e triumphed only a year after beginning research when he discovered that common sewing thread, once carbonized, worked in the laboratory. For practical applications, however, he switched to carbonized bamboo. Developing an electrical lighting system for a whole community involved more than merely developing an electric bulb; the devices that generated, transmitted, and controlled electric power also had to be invented. Accordingly, Edison organized research into all of these areas and in 1879, the same year that he produced an electric bulb, he also constructed the first dynamo, or direct-current (DC) generator. The original application of electric lighting was on the steamship Columbia in 1880. In that same year, Edison constructed a three-mile-long trial electric railroad at his Menlo Park laboratory. The first individual system of electric lighting came in 1881, in a printing plant. But the first full-scale public application of the Edison lighting system was actually made in Lon don, at the Holborn Viaduct. The first system in the United States came soon after when Pearl Street Station was opened in New York City. Components of the system were manufactured by different companies, some of which were organized by Edison; lamps came from theparent company, dynamos from the Edison Machine Works, and switches from Bergmann & Company of New York. In 1886 the Edison Machine Works was moved from New Jersey to Schenectady, New York. While these developments unfolded at Edison’s company, the Thomson-Houston Company was formed from the American Electric Company, founded by Elihu Thomson and Edwin Houston, who held several patents for their development of arc lighting. Some of their electrical systems differed from Edison’s through the use of alternating-current (AC) equipment, which can transmit over longer distances than DC systems. By the early 1890s the spread of electrification was threatened by the conflict between the two technologies and by patent deadlocks, which prevented further developments because of patent-infringement problems. By 1889, Edison had consolidated all of his companies under the name of Edison General Electric Company. Three years later, in 1892, this company was merged with the Thomson-Houston Electric Company to form the General Electric Company. Although this merger was the turning point in the electrification of the United States, it resulted in Edison’s resignati on from GE. He had been appointed to the board of directors but he attended only one board meeting, and sold all of his shares in 1894, though he remained a consultant to General Electric and continued to collect royalties on his patents. The president of the new company was Charles A. Coffin, a former shoe manufacturer who had been the leading figure at Thomson-Houston. Coffin remained president of General Electric until 1913, and was chairman thereafter until 1922. Meanwhile, also in 1892, GE’s stock began trading on the New York Stock Exchange. In 1884 Frank Julian Sprague, an engineer who had worked on electric systems with Edison, resigned and formed the Sprague Electric Railway and Motor Company, which built the first large-scale electric streetcar system in the United States, in Richmond, Virginia. In 1889 Sprague’s company was purchased by Edison’s. In the meantime, the two other major electric-railway companies in the United States had merged with Thoms on-Houston, so that by the time General Electric was formed, it was the major supplier of electrified railway systems in the United States. One year after the formation of General Electric, the company won a bid for the construction of large AC motors in a textile mill in South Carolina. The motors were the largest manufactured by General Electric at the time and were so successful that orders soon beganto flow in from other industries such as cement, paper, and steel. In that same year, General Electric began its first venture into the field of power transmission with the opening of the Redlands-Mill Creek power line in California, and in 1894 the company constructed a massive power-transmission line at Niagara Falls. Meanwhile the company’s electric-railroad ventures produced an elevated electric train surrounding the fairgrounds of the Chicago World’s Fair in 1893. Electrification of existing rail lines began two years later. By the turn of the century General Electric was manufacturing everything involved in the electrification of the United States: generators to produce electricity, transmission equipment to carry power, industrial electric motors, electric light bulbs, and electric locomotives. It is important to any understanding of the evolution of GE to realize that though it was diverse from the beginning, all of its enterprises centered on the electrification program. It is also worth noting that it operated in the virtual absence of competition. General Electric and the Westinghouse Electric Company had been competitors, but the companies entered into a patent pool in 1896. In 1900 GE established the first industrial laboratory in the United States. Up to that point, research had been carried out in universities or in private laboratories similar to Edison’s Menlo Park laboratory. Initially, the lab was set up in a barn behind the house of one of the researchers, but the lab was moved in 1 900 to Schenectady, New York, after it was destroyed in a fire. The head of the research division was a professor from the Massachusetts Institute of Technology. The importance of research at General Electric cannot be underestimated, for GE has been awarded more patents over the years than any other company in the United States. During the early decades of the 20th century General Electric made further progress in its established fields and also made its first major diversification. In 1903 General Electric bought the Stanley Electric Manufacturing Company of Pittsfield, Massachusetts, a manufacturer of transformers. Its founder, William Stanley, was the developer of the transformer. By this time GE’s first light bulbs were in obvious need of improvement. Edison’s bamboo filament was replaced in 1904 by metalized carbon developed by the company’s research lab. That filament, in turn, was replaced several years later by a tungsten-filament light bulb when Willia m Coolidge, a GE researcher, discovered a process to render the durable metal more pliable. This light bulb was so rugged and well suited for use in automobiles, railroad cars, and street cars that it was still employed in the early 2000s. In 1913, two other innovations came out of the GE labs: Irving Langmuir discovered that gas-filled bulbs were more efficient and reduced bulb blackening. To this day virtually all bulbs over 40 watts are gas-filled. The first high-vacuum, hot-cathode X-ray tube, known as the Coolidge tube, was also developed in 1913. Coolidge’s research into tungsten had played an important role in the development of the X-ray tube. The device, which combined a vacuum with a heated tungsten filament and tungsten target, has been the foundation of virtually all X-ray tubes produced ever since, and its development laid the foundation for medical technology operations at General Electric. Perhaps GE’s most important development in the early part of this century was its participation in the development of the high-speed steam turbine in conjunction with English, Swedish, and other inventors. Until this invention, all electricity (except hydroelectric) had been produced by generators that turned at no more than 100 rpm, which limited the amount of electricity a single unit could produce. An independent inventor had come up with a design for a very-high-speed steam turbine before the turn of the century, but it took five years of research before GE could construct a working model. By 1901, however, a 500-kilowatt, 1,200-rpm turbine generator was operating. Orders for the turbines followed almost immediately, and by 1903 a 5,000-kilowatt turbine was in use at Chicago’s Commonwealth Edison power company. Such rapid progress led to rapid obsolescence as well, and the Chicago units were replaced within six years. As a result, GE shops in Schenectady were soon overflowing with business. By 1910 the volume of the company’s trade in turbine generators had tripled and GE had sold almost one million kilowatts of power capacity. At the same time, General Electric scientists were also researching the gas turbine. Their investigations eventually resulted in the first flight of an airplane equipped with a turbine-powered supercharger. In the early days of electric power, electricity was produced only during evening hours, because electric lighting was not needed during the day and there were no other products to use electricity. GE, as the producer of both electricity-generating equipment and electricity-consuming devices, naturally sought to expand both ends of its markets. The first major expansion of the General Electric product line was made in the first decade of the 20th century. Before the turn of the century, light bulbs and electric fans were GE’s only consumer product. One of the first household appliances GE began to market was a toaster in 1905. The following year the company attempted to market an electric range. The unwieldy device consisted of a wooden table top equipped with electric griddles, pans, toasters, waffle irons, pots, and a coffeemaker, each with its own retractable cord to go into any one of 30 plugs. The range was followed by a commercial electric refrigerator in 1911 and by an experimental household refrigerator six years later. At the same time two other companies in the United States were producing electric devices for the home. The Pacific Electric Heating Company produced the first electric appliance to be readily accepted by the public: the Hotpoint iron. The Hughes Electric Heating Company produced and marketed an electric range. In 1918 all three companies were prospering, but to avoid competition with one another, they agreed upon a merger. The new company combined GE’s heating-device section with Hughes and Pacif ic to form the Edison Electric Appliance Company, whose products bore either the GE or the Hotpoint label. GE’s first diversification outside electricity came with its establishment of a research staff to investigate plastics. This occurred primarily at the prompting of Charles P. Steinmetz, a brilliant mathematician who had been with the company since the 1890s. All of the initial work by this group was devoted to coatings, varnishes, insulation, and other products related to electrical wiring, so that even this diversification was tied in to electrification. A more radical branching of GE’s activities occurred in 1912, when Ernst Alexanderson, a GE employee, was approached by a radio pioneer looking for a way to expand the range of wireless sets into higher frequencies. Alexanderson worked for almost a decade on the project before he succeeded in creating electromagnetic waves that could span continents, instead of the short distances to which radios had been limited . In 1922, General Electric introduced its own radio station, WGY, in Schenectady. In 1919, at the request of the government, GE formed, in partnership with AT&T and Westinghouse, the Radio Corporation of America (RCA) to develop radio technology. GE withdrew from the venture in 1930, when antitrust considerations came to the fore. General Electric also operated two experimental shortwave stations that had a global range. Other developments at General Electric contributed to the progress of the radio. Irving Langmuir had developed the electron tube. This tube, necessary for amplifying the signals in Alexanderson’s radio unit, was capable of operating at very high power. Other important developments by scientists at General Electric included the world’s first practical loudspeaker and a method for recording complex sound on film that is still in use today. Developments continued apace at GE in the electric motor field. In 1913 the U.S. Navy commissioned General Electric to build the first ship to be powered by turbine motors rather than steam. In 1915 the first turbine-propelled battleship sailed forth, and within a few years, all of the Navy’s large ships were equipped with electric power. General Electric also owned several utility companies that generated electrical power, but in 1924 GE left the utilities business when the federal government brought antitrust action against the company. During the Great Depression the company introduced a variety of consumer items such as mixers, vacuum cleaners, air conditioners, and washing machines. GE also introduced the first affordable electric refrigerator in the late 1920s. It was designed by a Danish toolmaker, Christian Steenstrup, who later supervised mechanical research at the GE plant in Schenectady. In addition, GE introduced its first electric dishwasher in 1932, the same year that consumer financing of personal appliances was introduced. Also in 1932 the first Nobel Prize ever awarded to a scientist not affiliated with a university went to Irving Langmuir for his work at GE on surface chemistry, research that had grown out of his earlier work on electron tubes. The years that followed witnessed a steady stream of inn ovation in electronics from the GE labs. These included the photoelectric-relay principle, rectifier tubes that eliminated batteries from home receivers, the cathode-ray tube, and glass-to-metal seals for vacuum tubes. Many of these developments in electronics were crucial to the growth of radio broadcasting. The broadcasting division of General Electric achieved a breakthrough in the late 1930s. The company had been developing a mode of transmission known as frequency modulation (FM) as an alternative to the prevailing amplitude modulation (AM). In 1939 a demonstration conducted for the Federal Communications Commission proved that FM had less static and noise. GE began broadcasting in FM the following year. Of course, the light bulb was not forgotten in this broadening of research activity at General Electric. The world’s first mercury-vapor lamp was introduced in 1934, followed four years later by the fluorescent lamp. The latter produced light using half the power of incandescent bulbs, with about twice the lifespan. Less than a year after the introduction of the fluorescent light, General Electric introduced the sealed-beam automotive headlight. Even though production of convenience items for the consumer halted during World War II, the war proved profitable for General Electric, whose revenues quadrupled during the war. The president of General Electric at the time, Charles Wilson, joined the War Production Board in 1942. GE produced more than 50 different types of radar for the armed forces and over 1,500 marine power plants for the Navy and merchant marine. The company, using technology developed by the Englishman Frank Whittle, also conducted research on jet engines for aircraft. The Bell XP-59, the first U.S. jet aircraft, flew in 1942 powered by General Electric engines. By the end of the war this technology helped General Electric develop the nation’s first turboprop engine. When production of consumer goods resumed immediately after the war, GE promptly found itself in another antitrust battle. The government discovered that GE controlled 85 percent of the light bulb industry–55 percent through its own output and the other 30 percent through licensees. In 1949 the court forced GE to release its patents to other companies. In this period the first true product diversifications ca me out of GE’s research labs. In the 1940s a GE scientist discovered a way to produce large quantities of silicone, a material GE had been investigating for a long time. In 1947 GE opened a plant to produce silicones, which allowed the introduction of many products using silicone as a sealant or lubricant. Meanwhile, as research innovation blossomed and postwar business boomed, the company began an employee relations policy known as â€Å"Boulwarism,† from Lemuel Boulware, the manager who established the policy. The policy, which eliminated much of the bargaining involved in labor-management relations, included the extension by GE to union leaders of a nonnegotiable contract offer. During the late 1940s General Electric embarked on a study of nuclear power and constructed a laboratory specifically for the task. Company scientists involved in an earlier attempt to separate U-235 from natural uranium were developing nuclear power plants for naval propulsion by 1946. In 1 955 the Navy launched the submarineSeawolf, the world’s first nuclear-powered vessel, with a reactor developed by General Electric. In 1957 the company received a license from the Atomic Energy Commission to operate a nuclear-power reactor, the first license granted in the United States for a privately owned generating station. That same year GE’s consumer appliance operations got a big boost when an enormous manufacturing site, Appliance Park, in Louisville, Kentucky, was completed. The flow of new GE products–hair dryers, skillets, electronic ovens, self-cleaning ovens, electric knives–continued. Other innovations to come from GE labs during the 1950s included an automatic pilot for jet aircraft, Lexan polycarbonate resin, the first all-transistor radio, jet turbine engines, gas turbines for electrical power generation, and a technique for fabricating diamonds. Antitrust problems continued to vex the company throughout the postwar years. In 1961 the Justice Department indicted 29 companies, of which GE was the biggest, for price fixing on electrical equipment. All the defendants pleaded gui lty. GE’s fine was almost half a million dollars, damages it paid to utilities who had purchased price-fixed equipment came to at least $50 million, and three GE managers received jail sentences and several others were forced to leave the company. During the 1960s and 1970s GE grew in all fields. In 1961 it opened a research center for aerospace projects, and by the end of the decade had more than 6,000 employees involved in 37 projects related to the moon landing. In the 1950s General Electric entered the computer business. This venture, however, proved to be such a drain on the company’s profits that GE sold its computer business to Honeywell in 1971. By the late 1960s, GE’s management began to feel that the company had become too large for its existing structures to accommodate. Accordingly, the company instituted a massive organizational restructuring. Under this restructuring program, the number of distinct operating units within the company was cut from more than 200 to 43. Each new section operated in a particular market and was headed by a manager who reported to management just beneath the corporate policy board. The sections were classified into one of three categories–growth, stability, or no-growth–to facilitate divestment of unprofitab le units. When this reorganization was complete, General Electric made what was at the time the largest corporate purchase ever. In December 1976 GE paid $2.2 billion for Utah International, a major coal, copper, uranium, and ironminer and a producer of natural gas and oil. The company did 80 percent of its business in foreign countries. Within a year Utah International was contributing 18 percent of GE’s total earnings. In the meantime, GE scientist Ivar Giaever was a corecipient of the 1973 Nobel Prize in Physics for his discoveries in the area of superconductive tunneling. Giaever became the second GE employee to be honored with a Nobel Prize. The divestiture of its computer business had left GE without any capacity for manufacturing integrated circuits and the high-technology products in which they are used. In 1975 a study of the company’s status concluded that GE, one of the first U.S. electrical companies, had fallen far behind in electronics. As a result, GE sp ent some $385 million to acquire Intersil, a semiconductor manufacturer; Calma, a producer of computer graphics equipment; and four software producers. The company also spent more than $100 million to expand its microelectronics facilities. Other fields in which GE excelled were in trouble by the mid-1970s, most notably nuclear power. As plant construction costs skyrocketed and environmental concerns grew, the company’s nuclear power division began to lose money. GE’s management, however, was convinced that the problem was temporary and that sales would pick up in the future. When by 1980 General Electric had received no new orders for plants in five years, nuclear power began to look more and more like a prime candidate for divestment. GE eventually pulled out of all aspects of the nuclear power business except for providing service and fuel to existing plants and conducting research on nuclear energy. Though General Electric’s growth was tremendous during the 1970s and earnings tripled between 1971 and 1981, the company’s stock performance was mediocre. GE had become so large and was involved in so many activities that some regarded its fortunes as capable only of following the fortunes of the country as a whole. GE’s economic problems were mirrored by its managerial reshuffling. When John F. (Jack) Welch, Jr., became chairman and CEO in 1981, General Electric entered a period of radical change. Over the next several years, GE bought 338 businesses and product lines for $11.1 billion and sold 232 for $5.9 billion. But Welch’s first order of business was to return much of the control of the company to the periphery. Although he decentralized management, he retained predecessor Reginald Jones’s system of classifying divisions according to their performance. His goal was to make GE number oneor two in every field of operation. One branch of GEâ€⠄¢s operations that came into its own during this period was the General Electric Credit Corporation, founded in 1943. Between 1979 and 1984, its assets doubled, to $16 billion, primarily because of expansion into such markets as the leasing and selling of heavy industrial goods, inventories, real estate, and insurance. In addition, the leasing operations provided the parent company with tax shelters from accelerated depreciation on equipment developed by GE and then leased by the credit corporation. Factory automation became a major activity at GE during the early 1980s. GE’s acquisitions of Calma and Intersil were essential to this program. In addition, GE entered into an agreement with Japan’s Hitachi, Ltd. to manufacture and market Hitachi’s industrial robots in the United States. GE itself spent $300 million to robotize its locomotive plant in Erie, Pennsylvania. Two years later GE’s aircraft engine business also participated in an air force plant-mo dernization program and GE later manufactured the engines for the controversial B-1B bomber. In 1986 General Electric made several extremely important purchases. The largest–in fact, the largest for the company to that date–was the $6.4 billion purchase of the Radio Corporation of American (RCA), the company GE had helped to found in 1919. RCA’s National Broadcasting Company (NBC), the leading U.S. television network, brought GE into the broadcasting business in full force. Although both RCA and GE were heavily involved in consumer electronics, the match was regarded by industry analysts as beneficial, because GE had been shifting from manufacturing into service and high technology. After the merger, almost 80 percent of GE’s earnings came from services and high technology, compared to 50 percent six years earlier. GE divested itself of RCA’s famous David Sarnoff Research Center, because GE’s labs made it redundant. In 1987 GE also sold its own and RCA’s television manufacturing businesses to the French company Thomson in exchange for Thomson’s medical diagnostics business. GE justified the merger by citing the need for size to compete effectively with large Japanese conglomerates. Critics, however, claimed that GE was running from foreign competition by increasing its defense contracts (to almost 20 percent of its total business) and its service business, both of which were insulated from foreign competition. In 1986 GE also purchased the Employers Reinsurance Corporation, a financial services company, from Texaco, for $1.1 billion,and an 80 percent interest in Kidder Peabody and Company, an investment banking firm, for $600 million, greatly broadening its financial services division. Although Employer’s Reinsurance contributed steadily to GE’s bottom line following its purchase, Kidder Peabody lost $48 million in 1987, in part because of the settlement of insider trading charges. Kidder Peabody did come back in 1988 to contribute $46 million in earnings, but the acquisition still troubled some analysts. GE owned 100 percent of Kidder Peabody by 1990. General Electric’s operations were divided into three business groups in the early 1990s: technology, service, and manufacturing. Its manufacturing operations, traditionally the core of the company, accounted for roughly one-third of the company’s earnings. Still, GE continued to pour more than $1 billion annually into research and development of manufactured goods. Much of that investment was directed at energy conservation–more efficient light bulbs, jet engines, and electrical power transmission methods, for example. In 1992 GE signaled its intent to step up overseas activity with the purchase of 50 percent of the European appliance business of Britainâ€℠¢s General Electric Company (GEC). The two companies also made agreements related to their medical, power systems, and electrical distribution businesses. Welch said that his aim was to make GE the nation’s largest company. To that end, General Electric continued to restructure its existing operations in an effort to become more competitive in all of its businesses. Most importantly, the company launched an aggressive campaign to become dominant in the growing financial services sector. GE’s aggressive initiatives related to financial services reflected the fact that the service sector represented more than three-quarters of the U.S. economy going into the mid-1990s. Furthermore, several service industries, including financial, were growing rapidly. GE’s revenues from its giant NBC and GE Capital divisions, for example, rose more than 12 percent annually from about $14.3 billion in 1988 to more than $25 billion in 1994. Encouraged by those gains, GE’s mer ger and acquisition activity intensified. For example, in 1994 the company offered a $2.2 billion bid for Kemper Corp., a diversified insurance and financial services company (it retracted the bid in 1995). GE’s sales from services as a percentage of total revenues increased from 30 percent in 1988 to nearly 45 percent in 1994, and neared 60 percent by 1996. The troubled Kidder Peabody unitremained a drag on GE’s services operations, leading to the company’s late 1994 decision to liquidate the unit. As part of the liquidation, GE sold some Kidder Peabody assets and operations to Paine Webber Group Inc. for $657 million. In contrast to its service businesses, GE’s total manufacturing receipts remained stagnant at about $35 billion. Nevertheless, restructuring was paying off in the form of fat profit margins in many of its major product divisions. Importantly, GE made significant strides with its Aircraft Engine Group. Sales fell from $8 billion in 1991 to less than $6 billion in 1995, but profit margins rose past 18 percent after dipping to just 12 percent in 1993. Reflective of restructuring efforts in other GE divisions, the company accomplished the profit growth by slashing the engineering workforce from 10,000 to 4,000 and reducing its overall Aircraft Engine Group payroll by about 50 percent, among other cost-cut ting moves. Despite a global economic downturn in the early 1990s, GE managed to keep aggregate sales from its technology, service, and manufacturing operations stable at about $60 billion annually. More importantly, net income surged steadily from $3.9 billion in 1989 to $5.9 billion in 1994, excluding losses in the latter year from Kidder Peabody operations. In 1994, in fact, General Electric was the most profitable of the largest 900 U.S. corporations, and was trailed by General Motors, Ford, and Exxon. Revenues reached $70 billion by 1995, the same year that the company’s market value exceeded $100 billion for the first time. The late 1990s saw General Electric reach a number of milestones. In 1996 the company celebrated its 100th year as part of the Dow Jones Index; GE was the only company remaining from the original list. That year, NBC joined with Microsoft Corporation in launching MSNBC, a 24-hour cable television news channel and Internet news service. Overall revenues exceeded the $100 billion mark for the first time in 1998, while the continuing stellar growth at GE Capital led that unit to generate nearly half of GE’s revenues by the end of the decade. Acquisitions in the late 1990s centered on two of the company’s growth initiatives: services and globalization. In 1996 the GE Appliances division acquired a 73 percent interest in DAKO S.A., the leading manufacturer of gas ranges in Brazil. GE Capital Services expanded in Japan through the 1996 purchase of an 80 percent stake in Marubeni Car System Co., an auto leasing firm; the 1998 acquisitions of Koei Credit and the consumer finance business of Lake Corporation; and the 1998 formation of GE Edison Life following the purchase of the sales operations of Toho Mutual Life Insurance, which made GE Capital the first foreign company involved in the Japanese life insurance market. In early 1999 GE Capital made its largest deal in Japan to date with the purchase of the leasing business of Japan Leasing Corporation, a business with $7 billion in leasing assets. Then in late 1999 GE Capital agreed to purchase the remaining assets of Toho Mutual for  ¥240 billion ($2.33 billion); Toho had collapsed during 1999 after suffering huge losses from the thousands of old, unprofitable policies in its portfolio, and a large portion of its liabilities were to be covered by Japan’s life insurance association. Expansion also continued in Europe for GE Capital, highlighted by the 1997 acquisition of Woodchester, one of the largest financial services companies in Ireland. Overall, GE spent some $30 billion during the 1990s in completing more tha n 130 European acquisitions. Under Welch’s leadership, General Electric in the late 1990s also adopted â€Å"six sigma,† a quality control and improvement initiative pioneered by Motorola, Inc. and AlliedSignal Inc. The program aimed to cut costs by reducing errors or defects. GE claimed that by 1998 six sigma was yielding $1 billion in annual savings. The company also continued to restructure as necessary, including taking a $2.3 billion charge in late 1997 to close redundant facilities and shift production to cheaper labor markets. During 1999 General Electric adopted a fourth growth initiative, e-business (globalization, services, and six sigma being the other three). Like many longstanding companies, GE reacted cautiously when the Internet began its late 1990s explosion. But once he was convinced of the new medium’s potential, Welch quickly adopted e-commerce as a key to the company’s future growth. Among the early ventures was a plan to begin selling appliances through Home Depot, Inc.’s web site, a move aimed at revitalizing lagging appliance sales. In late 1999 Welch announced that he planned to retire in April 2001, but he did not name a successor. At the time, General Electric was one of the world’s fastest growing and most profitable companies, and boasted a market capitalization of $505 billion, second only to Microsoft Corporation. Revenues for 1999 increased 11 percent to $111.63 billion while net income rose 15 percent to $10.72 billion. These figures also represented huge gains since Welch took over in 1981, when the company posted profits of $1.6 billion on sales of$27.2 billion. Welch was not done yet, however. In October 2000 he swooped in to break up a planned $40 billion merger of United Technologies Corporation and Honeywell International Inc. The Honeywell board accepted GE’s $45 billion bid, which was set to be the largest acquisition in the company’s history. Honeywell was coveted for its aerospace unit, a $9.9 billion business involved in flight-control systems, onboard environmental controls, and repair services. The addition of this unit was expected to significantly boost the GE Aircraft Engines unit, creating a global aerospace giant. Welch agreed to stay on at General Electric through the end of 2001 in order to see the acquisition through to fruition. He did, however, name a successor soon after this deal was announced. In November 2000 Jeffrey R. Immelt won the succession battle and wa s named president and chairman-elect. Immelt, who joined GE in 1982, had most recently served as president and CEO of GE Medical Systems, a unit with revenues of $12 billion. Immelt’s two chief rivals in the race to become only the ninth CEO in GE’s long history, W. James McNerney Jr., head of GE Aircraft Engines, and Robert L. Nardelli, head of GE Power Systems, soon left the company to become CEOs of 3M Company and Home Depot, respectively. Rather than serving as a capstone for a much admired reign of leadership, the Honeywell deal instead provided a sour ending for the Welch era. In the summer of 2001 the European Commission blocked the deal on antitrust grounds as 11th-hour negotiations between the European regulators and GE executives broke down. Welch finally retired soon thereafter, with Immelt taking over as chairman and CEO in September 2001. Meanwhile, one last major deal was initiated prior to the leadership handover. In July 2001 General Electric’s G E Capital unit agreed to pay $5.3 billion for Heller Financial Inc., a global commercial finance company based in Chicago that had total assets of about $19.5 billion. This deal, the second largest in GE history, behind only the 1986 deal for RCA, was consummated in October 2001. Also during 2001, GE Lighting had the largest product launch in its history when it introduced the GE Reveal line of light bulbs, which were touted as providing â€Å"a cleaner, crisper light† because the bulbs filtered out the duller yellow rays commonly produced by standard incandescent light bulbs. GE began feeling the effects of the economic downturn that year as revenues fell nearly 3 percent, to $125.68 billion; profits nevertheless increased 7.5percent, reaching $13.68 billion, though that was a far cry from the yearly 13 to 15 percent increases that Wall Street came to expect from GE during the Welch era. Immelt began to place his imprint in earnest on GE in 2002 through major restructurings and several significant acquisitions. Midyear he launched a reorganization of GE Capital. The financial services unit was divided into four separate units to streamline management, increase oversight, and improve transparency. The new units were: GE Commercial Finance, GE Consumer Finance, GE Equipment Management (involved in equipment leasing and loans), and GE Insurance. Also during 2002, the GE Appliances and GE Lighting units were combined into a new GE Consumer Products unit. On the acquisitions front, NBC widened its media holdings through the April 2002 acquisition of Hialeah, Florida-based Telemundo Communications Group Inc. for $2.7 billion and the $1.25 billion purchase of the Bravo cable network, completed in December of that year. Telemundo owned the second largest Spanish-language television network, as well as nine U.S. TV stations and the leading TV station in Puerto Rico. NBC hoped to tap into the growing Hispanic market via the deal. Bravo was known for its intelligent, arts-oriented programming such as Inside the Actors Studio, and it provided NBC with its first entertainment-oriented cable property. Also during 2002, GE Specialty Materials acquired BetzDearborn, a leading maker of water treatment chemicals, from Hercules Inc. for $1.8 billion. In addition, GE Industrial Systems spent about $777 million for Interlogix, Inc, an Austin, Texas-based manufacturer of electronic security products and systems for commercial, industrial, and residential use. All told, General Electric spent approximately $9 billion on industrial acquisitions alone during 2002. Concerns about whether the company could continue its stellar earnings performance and about its accounting practices sent GE’s stock sharply lower in 2002. The stock ended the year trading at $24.35 per share, less than half of the high price for 2001. Once again, profits rose modestly, to $14.12 billion, or about 3 percent. Taking advantage of the economic downturn to acquire desirable assets from distressed sellers, GE’s deal-making appetite grew only larger in 2003. That year was the company’s biggest acquisition year yet, with deals worth a collective $30 billion either completed or announced . In August the company agreed to buy Transamerica Finance Corporation’s commercial lending business from AegonN.V. of The Netherlands for $5.4 billion. The deal, which added about $8.5 billion in assets to the GE Commercial Finance unit, closed in January 2004. Also during the summer of 2003 GE sold three of its slower growing insurance businesses: Financial Guaranty Insurance Co., Tokyo-based GE Edison Life Insurance Co., and GE’s U.S.-based auto and homeowners insurance unit. About $4.5 billion was raised through these divestments. As part of its effort to shift emphasis to higher growth fields, General Electric completed two significant acquisitions in healthcare. In October 2003, Instrumentarium Corp. was acquired for $2.3 billion. Based in Finland, Instrumentarium was a major medical-equipment maker with a product line that featured devices for anesthesia, critical care, and patient monitoring. That same month, GE agreed to buy Amersham plc, a British firm specializing in diagnostics agents used during scans of the body for disease, gene-sequencing tools, and protein separation for high-tech drug development. Consummated in April 2004 and valued at about $9.5 billion, the purchase of Amersham stood, very briefly, as the largest acquisition in General Electric history. Following the Amersham acquisition, GE Medical Systems, now a $14 billion business, was renamed GE Healthcare. Based in the United Kingdom–the first GE unit to be headquartered outside the United States–GE Healthcare was headed by Amersham’s former chief executive, William Castell; Castell was also named a GE vice-chairman, the first outsider to be so named. Meanwhile, also in October 2003, General Electric announced an even larger deal, a $14 billion acquisition of Vivendi Universal Entertainment (VUE), the U.S. unit of the French group Vivendi Universal S.A. Among VUE’s assets wer e the Universal Pictures movie studio, the specialty film unit Focus Features, the Universal Television production outfit, cable channels USA Network and Sci-Fi Channel, and theme parks in California, Florida, Japan, and Spain. Upon completion of the deal in May 2004, NBC was merged with VUE to form NBC Universal, which was 80 percent owned by GE and 20 percent by Vivendi. This expansion into entertainment content mimicked earlier combinations involving the ABC and CBS television networks. Continuing his transformative leadership, Immelt reorganized GE’s 13 business units into 11 focused on specific markets and customers. The reorganization, effective at the beginning of 2004, brought similar businesses together in an effort to increase sales and cut costs. The most significant of the changes included combining the firm’s aircraftengines business and its rail-related operations in a new GE Transportation unit; merging most of GE Industrial Systems with GE Consumer Prod ucts to form GE Consumer & Industrial, which focused on lighting products, appliances, and integrated industrial equipment, systems, and services; and forming GE Infrastructure from certain operations of GE Industrial Systems and GE Specialty Materials. Also in January 2004, GE continued disposing of its insurance operations. That month, General Electric launched an initial public offering (IPO) of about one-third of the stock of the newly formed Genworth Financial, Inc., which consisted of the bulk of GE’s life and mortgage insurance businesses. The IPO was planned for completion by mid-2004, after which GE planned to make Genworth fully independent within three years. What was left of GE Insurance was mainly its reinsurance business, which was long rumored to be another candidate for divestment. Overall, through the myriad moves engineered during just a few years in charge, Immelt was seeking to cut General Electric’s reliance on financial services and mature industrial businesses in favor of such higher growth areas as healthcare and entertainment. He was also building operations in fast-growing economies such as China’s. By 2005, GE was aiming to outsource $5 billion of parts and services from China and simultaneously grow sales in China to a like figure. Further divestments were also expected, and there had long been speculation that the slow-growing lighting and appliances businesses were prime candidates. Through initiatives such as these, Immelt hoped to return General Electric to double-digit earnings growth by 2005. Read more: http://www.answers.com/topic/general-electric-company#ixzz1c6xpDIo9

Thursday, January 9, 2020

Famous Quotes Reveal Heart and Soul of America

The United States of America was founded on the principles of liberty, and freedom is a value nurtured by every American soul. What is it like to be American? What is the American dream? How does this vast nation of diverse races and religions function as one undivided entity? Discover attributes that are intricately woven into the fabric of American life through these famous American quotes. Adlai Stevenson When an American says that he loves his country, he means not only that he loves the New England hills, the prairies glistening in the sun, the wide and rising plains, the great mountains, and the sea. He means that he loves an inner air, an inner light in which freedom lives and in which a man can draw the breath of self-respect. Max Lerner America is a passionate idea or it is nothing. America is a human brotherhood or it is chaos. Aurora Raigne America, for me, has been the pursuit and catching of happiness. Carrie Latet May I never wake up from the American dream. James Baldwin I love America more than any other country in this world, and, exactly for this reason, I insist on the right to criticize her perpetually. George Washington Government is not reason, it is not eloquence. It is force, and like fire, it is a dangerous servant and a fearful master. Thomas Jefferson I have sworn upon the altar of God, eternal hostility against every form of tyranny over the mind of man. Abraham Lincoln Dont interfere with anything in the Constitution. That must be maintained, for it is the only safeguard of our liberties. Gen. George Patton No bastard ever won a war by dying for his country. You win the war, by making the other poor dumb bastard die for his country! Winston Churchill You can always count on Americans to do the right thing -- after theyve tried everything else. Gen. Douglas MacArthur Americans never quit. George W. Bush To those of you who received honors, awards, and distinctions, I say well done. And to the C students, I say you, too, can be president of the United States. Benjamin Franklin Where liberty dwells, there is my country. Theodore Roosevelt This country will not be a good place for any of us to live in unless we make it a good place for all of us to live in. O. Henry If ever there was an aviary overstocked with jays it is that Yaptown-on-the-Hudson called New York. Ayn Rand The skyline of New York is a monument of a splendor that no pyramids or palaces will ever equal or approach. G. K. Chesterton There is nothing the matter with Americans except their ideals. The real American is all right; it is the ideal American who is all wrong.

Wednesday, January 1, 2020

PLC in construction - Free Essay Example

Sample details Pages: 9 Words: 2726 Downloads: 4 Date added: 2017/06/26 Category Finance Essay Type Cause and effect essay Did you like this example? Contents Introduction Corporate History Strengths and Weakness main activities by turnover, profit, area 2010 Financial Summary 2011 Financial Summary 2012 Financial Summary Company accounts Turnover by Activity Earnings per Share particular sectors of the market in which the company currently operates UK construction market and overseas recommendations of areas of operation that should be pursued and others which might be reduced Conclusions References. Introduction The aim of this report is to provide an overview of a PLC (Public Limited Company) in construction industry noting strengths and main areas of activity. A discussion of market for construction by analysis of annual reports, whilst looking at economic forecasts, output articles alongside government statistics. Company and market data are further analysed to identify particular sectors in which the company currently operates; recommendations are made to which areas should be pursued with a strategic approach that can be adopted to achieve this. Some or all of the following factors will be part of the report:- Don’t waste time! Our writers will create an original "PLC in construction" essay for you Create order Percentage changes in both turnover and trading profit year on year Percentage breakdown in trading profit or turnover by sector eg housing, commercial, civil etc or by geographical sector Percentage change in earnings per share Share price Relative to the market or comparable construction companies Strengths and Weaknesses of the company. Adopted research method was hourglass model where the broad spectrum of construction industry and the current market was analysed. The data collection was done from various sources mainly web browsing reading construction based articles, company profiles, financial reports, economic forecasts, government statistics and news broadcasting websites. Finally trends were closely examined for the Credit Crunch and the collapse of property and private housing markets. Corporate History The company under consideration in this report is Balfour Beatty, who is a multinational infrastructure group mainly operating in professional services, construction services, support services and infrastructure investments. It was formed in 1909 by George Balfour (mechanical and electrical engineer) and Andrew Beatty. The company initially focused on tramways first contract being for the Fife Tramway Light and Power Company hydro-electric power, dams, transmission lines and power stations. Other works in 1918 included standardisation of the electricity supply in Derbyshire and Nottinghamshire, and construction of tunnels and escalators for London Underground. By 1924 Balfour Beatty started overseas work on large scale such as the management of East African Power Lighting company; construction of hydro-electric schemes in Dolomites, Malaya and India; power stations in Uruguay and Argentina and the Kut Barrage in Iraq. During WWII Balfour Beatty worked on war projects such as S capa Flow (blockage barriers were constructed to stop foreign invasion) and Mulberry Harbour (portable temporary harbour developed to facilitate the rapid offloading of cargo). Balfour Beatty bought a Canadian company in 1953 who worked on harbour and dam projects. Later it was bought over by Power Securities which was taken over by British Insulated Callenders Cables in 1969. Then in 2000, BICC sold its cable operations and renamed itself Balfour Beatty. It moved from its traditional area of expertise in 1986 when it formed Balfour Beatty Homes, building on a modest scale from its office in Nottingham and other locations across UK. Balfour Beatty has created a trend over the years since the company was formed (work in different operations), this is now being followed further where mostly Balfour Beatty have been working in construction and consultancy firms; which can be seen when Balfour Beatty bought Subsurface Group (US consulting and engineering firm) in January 2013. Strengths and Weakness The strengths of Balfour Beatty lies in integration and manage local supply chains to deliver projects on budget and on time. Previously the companys focus has been to deliver speed, quality and low cost, today its moved to provide clients value for money whilst keeping up with the low carbon standards. Balfour Beatty has been mainly working in the construction services sector out of four market sectors mentioned below. The companys weakness are set in the other sectors i.e. investment and services where the focus is running low comparatively. The revenue of the operating sectors alongside the directors report back up this statement, where the construction services sector has received awards in UK and it is spreading rapidly overseas. main activities by turnover, profit, area Balfour Beatty operates in over 80 countries, in diverse markets and economies. The engineering and construction group completes work for the international rail, road, utility systems and buildings markets. It is the second biggest construction company in the UK and the fifteenth biggest in the world. The main areas of activity for the company are Professional Services and Construction Services sector as shown below. Figure 1 Revenue (including joint ventures and associates) 2010 During this year, series of initiatives for the next 4 5 years were announced to take full advantage of the expected long-term growth in infrastructure markets. Firstly, the company will invest to grow capabilities both organically and by acquisition, particularly in professional and support services and in markets where they see the greatest opportunities. Secondly, the company will seek greater income from Infrastructure Investments. To achieve this Balfour Beatty will make regular stream of mature asset disposals worth  £200m- £300m, gaining around  £20m in disposal gains per annum. Finally, they have plans to increase group operating margin to 3.5%-4.0% level over this period by improving business mix, utilising their resources more effectively and generating  £30m annual gross savings from procurement and back office initiatives in the UK,  £20m of which is expected to go through to the bottom line. Financial Summary Revenue including joint ventures and associates improved by 2% to  £10,541m. This was due to acquisitions, including the consolidation of Parsons Brinckerhoff for the full year for the first time, which accounted for 13% growth. The underlying reduction of 11% in revenue was caused largely by weakness in construction markets both in the UK and the US. Pre-tax profit was up by 20% to  £319m, lifting Group operating margin to 3.2%, partly due to our evolving mix of business after the consolidation of Parsons Brinckerhoff, but also due to excellent operational performance in Professional Services and Construction Services. Adjusted earnings per share rose slightly to 34.7p (2009: 34.4p). The increase in the profit before tax was largely offset by the increase in the average number of shares in issue due to the full year effect of the 2009 rights issue to fund the acquisition of Parsons Brinckerhoff. The Board has recommended a final dividend of 7.65p per share in respect of 2010, giving a full-year dividend of 12.7p (2009: 12.0p adjusted), up 6% on 2009. (https://www.balfourbeatty.com/managed_content/news/2011-03-03.pdf) 2011 Strong performance was delivered in 2011, further progress was made towards the delivery of strategy and demonstrated diversity, flexibility and resilience of their business. The company sees opportunities in growth sectors such as rail, power and growth markets like Australia, Canada and India. The company aims to achieve cost efficiency whilst recycling capital investments made in businesses which were successful in 2011 with confidence that these programmes will underpin performance. Financial Summary Order book stable at  £15.2bn Revenue up 5%; up 6% on a constant currency basis and 4% on an organic basis Underlying profit from operations improved in all divisions except for Construction Services Existing cost efficiency programme delivering, with  £15m of savings in 2011; a further  £50m pa of savings targeted through a broader programme over the next three years.  £20m gain from infrastructure investment disposals; Directorsà ¢Ã¢â€š ¬Ã¢â€ž ¢ valuation of the PPP portfolio increased to  £743m Earnings per share up 9%; dividend increased by 9% to 13.8p Net cash position strong at  £340m (https://www.balfourbeatty.com/files/results/2012/fullyear/fullyear_2011_announcement.pdf) 2012 Balfour Beatty reported a 7% fall in profits as new growth markets failed to offset a continued weakness in its core construction business in Britain and United States. The group made an underlying pre-taxprofitof 310 million pounds in 2012, ahead of analysts forecasts which ranged between 204 million and 323 million pounds and averaged 295 million pounds. Balfour Beattys Professional project management, design and planning and Support Services divisions combined jumped from making up 44 percent of its order book in 2011 to 47 percent in 2012, though some analysts worry its progress has been slow. The order book for Support Services was up 12 percent at 5.7 billion after a 3 percent rise in revenue to 1.6 billion pounds.Professional Servicesrevenue was up 1 percent at 1.67 billion pounds and the order book was up 9 percent at 1.6 billion. Balfour Beatty said that 2012 was a mixed year in Australia, a market it has earmarked for growth, with revenue decline in transport offs et only partly by growth in mining. The group said it still believes that construction markets in 2013 will be challenging and that it is on track to deliver combined annual cost savings of  £80 million in 2015. Financial Summary Continued to grow in target geographies and sectors while facing challenges in UK and US construction markets Order book up 1% at  £15.3bn with 63% now economic infrastructure Revenue down 1%; down 4% before the impact of foreign exchange and acquisitions Continuing profit growth in Professional Services and Investments Cost efficiency programme on track to achieve  £80 million by 2015;  £36 million of savings achieved at a non-underlying cost of  £61 million in 2012 Directorsà ¢Ã¢â€š ¬Ã¢â€ž ¢ valuation of the PPP portfolio at  £734 million (2011:  £743 million) after the disposal of two assets generating disposal gains of  £52 million Strategic decision taken to divest of Mainland European rail operations; non-underlying cost of  £104 million incurred including  £95m goodwill write down Underlying earnings per share down 1%; full-year dividend increased by 2% to 14.1p (https://www.balfourbeatty.com/files/results/2013/fullyear_2012_announcement.pdf) Company accounts Turnover and Trading Profit of past three years is shown below. There is an increase of turnover of  £494 million between year 2010 to 2011, which then drops in year 2012 by  £139 million. However the Trading profit is been in decline for past three years starting from  £7 million in 2010 and  £22 million in 2012. Year Turnover ( £ m) Trading Profit ( £ m) 2010 10541 338 2011 11035 331 2012 10896 309 Figure 2 Year on Year turnover and trading profit Turnover by Activity From table below the Construction Services is main area of activity for Balfour Beatty with having generating most of the revenue. There is a general increase of revenue for Professional and Support Services from year 2010 2012. However it is noted that the Construction Services and Infrastructure Investment markets have been at peak in year 2011 and dropped in 2012. Professional Services has an increase of 32 million from year 2010 to 2011, and an increase of 23 million between year 2011 to 2012 Construction Services has an increase of 307 million from year 2010 to 2011, then went in decline for the following year due to fall in general construction division with a decrease of 91 million between year 2011 to 2012 Support Services has an increase of 150 million from year 2010 to 2011, and an increase of 49 million between year 2011 to 2012 Infrastructure Investment has an increase of 6 million from year 2010 to 2011, then went in decline for the following year due other companies endeavouring towards enhancing operational efficiency and hence increasing competition in energy and renewables with a decrease of 120 million between year 2011 to 2012 Year Professional Services ( £ m) Construction Services ( £ m) Support Services ( £ m) Infrastructure Investments ( £ m) 2010 1613 6743 1434 750 2011 1645 7050 1584 756 2012 1668 6959 1633 636 Figure 3 Year on Year turnover by sector Earnings per Share Figure 4 Percentage change in Basic earnings per share Year Earnings per share (p) Change (%) 2010 23.0 16 2011 26.7 2012 6.5 75 Figure 5 Percentage change in Underlying earnings per share particular sectors of the market in which the company currently operates Further in-depth to where the company focuses on can be seen from the following valuation portfolios by sector. The companys main focus is roads, then hospitals, then schools and others:- Figure 6 Portfolio Valuation: December 2010 Figure 7 Portfolio Valuation: December 2011 Figure 8 Portfolio Valuation: December 2012 UK construction market and overseas The construction division finished the year with an order book of 8 billion pounds, down 6 percent on a year ago, including a 17 percent fall in the United States, while revenue in the division was down 1 percent at 6.96 billion pounds. Total revenue was also down 1 percent at 10.9 billion pounds. Construction groups in UK have become volatile through the industry downturn that hit in 2008. Balfour Beatty have embarked on ambitious cost cutting drives and diversifying into adding new services as well as new markets likeBrazil, India and Australia. The market has fluctuated unusually in terms of how the sectors are operating over the past few years for Balfour Beatty, it can be noted that there was a decline in construction division in UK in year 2012 (drop of 381 million from 2011-2012) where as the American market was nourishing (rise of 130 million from 2011-2012) as seen below. Year United Kingdom ( £ m) Europe ( £ m) Rest of the World ( £ m) United States of America ( £ m) 2010 4991 1173 3072 2011 5700 1922 3413 2012 5319 485 1549 3543 Figure 9Year on Year turnover Geographically recommendations of areas of operation that should be pursued and others which might be reduced The table comprises the current market where Balfour Beatty is active. Professional Services (PS) 35 subsidiaries Construction Services (CS) 99 subsidiaries Support Services (SS) 5 subsidiaries Infrastructure Investment (II) 15 subsidiaries Figure 10 Areas Balfour Beatty is active at present From the table above it can be seen that Balfour Beatty is currently working in 16 different markets ranging from education to renewables. The company has been successfully operating on a large scale in markets such as Roads and Rail, this falls under Construction and Professional Services sector both in UK and in Overseas. The company has helped other communities including Britain to build their basic necessities i.e. transportation sector so far, but not to forget that these were the foundations set by George Balfour and Andrew Beatty initially. In order for the company to progress further and be in lead of the current competitive circumstances the company should start investing in the Infrastructure Investments and Support Services whilst withdrawing from Professional and Construction Services. The major difficulty faced today by most of the developing countries is the production of energy and reduction of carbon usage durin g energy production. Balfour Beatty has made significant progress in and has injected funds in these markets but for Balfour Beatty to stay a step ahead of other companies they should pursue their following efforts in energy sectors mainly renewables. This can be achieved by reducing the funds used for other sectors such as Construction Services Balfour Beatty has alone won three awards with 9 of their subsidiaries working in UK. Possible Strategy Grow in new geographies and market sectors Deliver greater value to clients Improve operational performance and cost-effectiveness Continue to show leadership in values and behaviour Conclusions The conclusion that can be drawn from this report is the following: No doubt Balfour Beatty is a successful construction company in UK, which started working overseas within 15 years of its establishment in 1909. It is operating in over 80 countries, in diverse and challenging markets where economies are as diverse as the country themselves. Over the years Balfour Beatty moved from its traditional area of expertise during times of depression and helped build protection for home country. Later, it went back to power transmission and tramway market (traditional area of expertise). However Balfour Beatty moved to other sectors in a bid to thrive and succeed in the market; it emerged on an enormous scale in construction industry and made the most of it, whilst surviving in Credit Crunch when construction sector was in downfall. These declines can be noted by the analysis of turnover and trading profits. Most importantly during the financial depression where there was a decline in const ruction industry, Support Services market was in demand from where Balfour Beatty has shown progress. Lastly; the criticism on usage of fossil fuels have increased and the resources are becoming scarce making energy the biggest problem of this era for both developed and developing countries, Balfour Beatty has their potential in advancement of this market where they can secure their coming prosperity with assurance. References. https://www.balfourbeatty.com/ https://data.gov.uk/dataset/annual_abstract_of_statistics https://uk.reuters.com/article/2013/03/07/uk-balfourbeatty-results-idUKBRE92609F20130307 https://www.ft.com/cms/s/0/e20aaaa6-a50a-11e3-8988-00144feab7de.html#axzz2vBiH0mO4 https://www.balfourbeatty.com/index.asp?pageid=68 https://www.balfourbeatty.com/managed_content/news/2011-03-03.pdf https://www.balfourbeatty.com/files/results/2013/fullyear_2012_announcement.pdf https://www.balfourbeatty.com/files/results/2012/fullyear/fullyear_2011_announcement.pdf https://www.bbc.co.uk/search/?q=Balfour+Beattysearch_form=in-page-search-form https://www.bing.com/news/search?q=balfour+beattyqpvt=balfour+beattyFORM=EWRE https://www.youtube.com/watch?v=wi0WtmQxqbA https://www.balfourbeatty.com/files/reports/2010/ar2010.pdf https://www.balfourbeatty.com/files/reports/2011/ar2011.pdf https://www.balfourbeatty.com/files/reports/2012/ar2012.pdf