Chaplin and the Cinema Essay Example | Topics and Well Written Essays - 2500 words

Chaplin and the Cinema - Essay Example He expressed his inner sentiments by changing his expressions of the face. This was a skill which was possessed by him and he was the most famous comedian of his time. But later he adopted the way of acting like others. The movie ‘The Great Dictator’ marked a great revolution in the entertainment sector. This was the first movie in which Charlie Chaplin used the medium of talking to convey his feelings and emotions. It marked the introduction of Charlie Chaplin as a ‘talkie’ in the film industry which marked a great importance and secondly it also made its political importance felt through out the world. This movie was released during the era of World War II and showed its criticism against the forces which were involved during the World War II. The Great Dictator was a movie which marked the entrance of Americans in the World War II. This movie is of a great historical significance. It disparages the strategies designed specially by the Nazis during the World War II. The strategies made by the Nazis were shown as racial in this movie and it disapproved the policies largely. The production of ‘The Great Dictator’ started in 1937 at which time the Nazis did not pose any kind of danger to the United States of America. This movie takes its story from Hitler and Nazism. If the movie is closely reviewed it can be said that it clearly criticizes the policies made by Hitler and Nazis. Charlie Chaplin plays the role of a barber who has a faith in the religion of Jews. He belongs to the country of Tomania. In the commencement of the movie the barber is shown as a patriot of the country who is fighting in the World War I. This barber helps to save the life of a Tomanian Soldier during the war. But after the war this barber suffers from the disease amnesia and is hospitalized. Similarly another role is also played by Charlie Chaplin in the movie which is of a Tomanian dictator. This

Group analysis Essay Example | Topics and Well Written Essays - 750 words - 1

Group analysis - Essay Example Six of the members were teachers and the remaining members were from different administrative departments. The goal of the meeting was clearly mentioned in the invitation letter which was sent to the members two days earlier. The letter said that the goal of the meeting was to find creative and effective solutions for the problems experienced by adult learners in adjusting in the classroom and in doing the administrative work related to their admission and paperwork. Hence, the members were already aware of the intention of the meeting and were mentally prepared for the topic. The members had occupied their chairs around the rectangular table in the room. However, from the body language of the members in the meeting, it was evident that Mr. Miller, who had occupied a chair near the projector screen, was the leader of the group. The Leader It was Mr. Miller who started the meeting by greeting the members. He welcomed everyone and thanked the members for attending the meeting. Everyone was attentive to him when he was talking. He had an aura of authority to his presence. He asked the members if they have received the letter mentioning the goals of the meeting. He found that two of the teachers and one member from administrative department did not receive the letter. This annoyed Mr. Miller slightly and he noted down something in his notebook. Then, he turned to the member named Sandra and asked her to check why the letter did not reach everyone and assured the group that this will not happen again. Later, he declared the agenda of the meeting. Agenda The agenda of the meeting was to find creative and interesting ways to create a friendly and welcome atmosphere for the adults ‘going back to school.’ Mr. Miller asked everyone if they agreed with the need to change the school environment so as to make adults ‘going back to school’ comfortable in the classrooms. Everyone agreed by confirming verbally and also by nodding their heads. Then Mr. Miller asked the members if they had any ideas. Three of the group members raised their hands. Mr. Miller asked them to express their opinions and share their ideas. One by one, three of the members shared their ideas with the group. Sandra was taking down the notes when they were discussing. Others seemed to agree very strongly as they were very happy with the suggestions and also added their opinions to make the ideas better. By the end of the discussion, the group had come up with 6-7 ideas to make the classroom environment adult learner friendly. All the members played an active role in the meeting. The members from administrative department of the school came up with the idea to make the paper work easy for the adult learners by allocating separate administrative counters for them. It was also decided that as the adult learners usually find it difficult to work on computers, they will be given all the technical assistance needed in completing the administrative procedures. The teachers suggested that extra curricular activities like picnics, games, family days etc. will help in building a bond between the young students and the adult learners. One of the teachers also suggested an idea of pairing, where young students will be paired with the adult learners

Financial Statement Analysis of Hilton Worldwide Holdings

Financial Statement Analysis of Hilton Worldwide Holdings Company Overview HiltonWorldwide Holdings Inc.is one of the largest and fastest growing hospitality companies in the world. The company is correctly positioned in the industry. We expect Hilton to grow at about 6.92% the same rate as its competitor and to maintain the median returns it currently generates. Hilton has relatively high profit margins while operating with median asset turns. Hiltons year-to-year change in revenues and earnings are better than that of its competitor. Hiltons revenue growth in recent years and current P/E ratio are both around their respective peer medians suggesting that historical performance and long-term growth expectations for the company are largely in sync. Analytical Conclusion Although the hospitality industry can get volatile Hilton Worldwide will continue to make strides as the company has a dedicated team coupled with an award winning portfolio and tailor made strategies for each hotel. Hence, the company will continue its operations for years to come. While Hilton has little control over external shocks, the company has the ability to adapt to its competitors, both old and new in all 104 countries and regions. Hilton worldwide is fairly valued. The company is currently valued at $19.07 billion with an anticipated value of $19.70-20B. Summary Financials Price (Sale):2.63(BV):3.21Float: 192.69M Debt to Equity: 184.85 52 Week Trading Range: 41.55 60.40Insider Holdings: N/A Current Ratio: 1.33 Cash: 1.42B Equity: 5.89 B P/E trailing: 54.77 Exchange: NYSEProfit Margin: 4.82% P/E forward: 27.65 Market Cap: 19.18BOperating Margin: 28.07% Shares Outstanding: 329.73MROE: 6.17% Selected Financials FY 12/31 2018 2017 2016 2015 2014 2013 2012 Revenue 9.66B 8.88B 11. 66B 11. 27B 10.50B 9.74B 9.28B Net Income 743M 571 M 348M 1.4B 673M 415M 352M EPS (Basic) 2.06 1.74 1.06 4.26 2.04 1.35 1.14 EPS (Diluted) 2.06 1.74 1.05 4.26 2.04 1.35 1.14 P/E 28.22 33.25 21.59 30.65 34.40 33.82 35.98 Company Highlights Net loss for the fourth quarter was $382 million, and net income for the full year was $364 million. Diluted loss per share was $1.17 for the fourth quarter, largely driven by $513 million of non-cash corporate restructuring charges incurred prior to the spin-offs, and diluted EPS was $1.05 for the full year. Added 354 hotels to its system in 2016, opening nearly one hotel per day in the year. Completed spins-offs of Hilton Grand Vacations (HGV) and Park Hotels and Resorts (PK) Hilton launched its newest brand the Tapestry Collection by Hilton. Description Hilton is one of the largest and fastest growing hospitality companies in the world, with a portfolio of 14 world class brands comprising over 4,900 properties with more than 800,000 rooms in 104 countries and regions. Hilton is committed to fulfilling its mission to be the worlds most hospitable company by delivering exceptional experiences at every hotel, to every guest, every time. Hilton was founded in 1919 by Conrad Hilton when he purchased his first hotel in Texas, Hiltons is the most recognized hotel brand in the world. Hiltons operate its business across three segments: ownership; management and franchise; and timeshare. Hiltons strategy focuses on providing service and cost models tailored to each hotel, reflecting size, business complexity, and market environment. Hilton provide appropriate levels of engagement depending on each hotels needs, by ensuring hotel owners are fully engaged in decision-making. This consolidated approach means Hilton maximize cost and scale effici encies, by sharing best practice, market and trend intelligence and ensuring appropriate affordability to each hotel. For example: Hilton refine its luxury brands to deliver products and service standards that are relevant to each region. Hiltons operations are mainly concentrated in the United States, however, it has its presence in the international markets such as in Europe, the Middle East and Africa, and in the Asia Pacific region. Operations Hilton operates its business across three segments namely; ownership, management and franchise, and timeshare. Ownership Hilton is one of the largest hotel owners in the world based on the number of rooms at the companys leased, owned and joint venture properties. Hiltons diverse global portfolio of owned and leased properties includes a number of prominent hotels in major cities such as New York City, San Francisco, London, Chicago, SÃ £o Paolo and Tokyo. Hiltons portfolio includes renowned hotels with significant underlying real estate value, by the end of 2016, the ownership segment had 141 hotels with 57,716 rooms. In recent years Hilton has expanded its hotel system less through real estate investment and more by increasing the number of management and franchise agreements the company has with third-party hotel owners. Hilton focuses on maximizing profitability and cost efficiency of all its portfolios by, reducing fixed costs and implementing new labor management practices and systems. For instance, Hilton has developed and executed strategic plans for each of its hotels to enhance the market po sition of each property. At many of its hotels Hilton has renovated guest rooms and public spaces and added or enhanced meeting and retail space to improve profitability. At certain of its hotels, Hilton is evaluating options for the adaptive reuse of all or a portion of the property to residential, retail or timeshare uses. Management and Franchise Hiltons management and franchise segment enables the company to manage timeshare properties and hotels and license its trademarks to franchisees. Hilton currently manages 4,734 hotels with 738,724 rooms. Therefore, this segment generates its revenue primarily from fees charged to homeowners, hotel owners and associations at timeshare properties. Hilton grows its management and franchise business by attracting owners to become a part of its system and participate in its brands and commercial services to support their hotel. On Hiltons part, these contracts require little or no capital investment to initiate and provide substantial return on investment for Hiltons. Hiltons primary management services consist of operating hotels under management contracts for the benefit of third parties, who either own or lease the hotels. Hilton earns an incentive fee based on gross operating profits and a management fee based on a percentage of the hotels gross revenue. For a fee Hilton franchise its trade, brand names, operating systems and service marks to hotel owners. Hilton does not directly participate in the daily operation or management of franchised hotels but its conducts periodic inspections to ensure that brand standards are maintained. Hilton approves certain aspects of development and the location for new construction of franchised hotels, in some cases, Hilton also provides the franchise with product improvement plans that must be completed in accordance with brand standards to remain in Hiltons hotel system. Timeshare Hiltons timeshare segment generates revenue from three primary sources: Resort Operations, Timeshare Sales, and Financing. Hilton market and sell timeshare interests owned by Hilton and third parties. The company sells timeshare intervals on behalf of third-party developers using the Hilton Grand Vacations brand. Through resort operations Hilton manages the Hilton Grand Vacations (HGV) Club, receiving annual dues, enrollment fees, and transaction fees from members. Hiltons also provides consumer financing, which includes interest income generated from the origination of consumer loans to customers to finance their purchase of timeshare intervals and revenue from servicing the loans. Strategy Since Hilton Worldwide was founded, the company has been among the top hospitality companies in the industry. In fact, after almost 100 years it is considered one of the largest and fastest growing corporations with the goal to deliver outstanding customer experiences and excellent operating performance. Hiltons business strategy is based on its service differentiation, the company distinguishes itself from its competitors by providing high quality service combining it with IT systems. According to Dudovki, (2016), Hilton has been focusing its strategy on digitalizing mobile services, booking channels, loyalty and data driven-personalization, and also improving guest experience and privacy. Enhanced service offering is at the forefront of Hilton strategy. In order to allocate more of customers travel spending to Hilton hotels, and consequently to enhance customer loyalty for the entire system of hotels and timeshare properties, the team created Hilton Honors Loyalty Program. The program rewards guests with points for each stay at any of Hiltons more than 4,900 hotels worldwide. Members can use the points earned for free hotel nights and other goods and services; moreover, it is possible to spend the points with 130 partners, among which car rental, rail, and airlines companies, credit card providers and others. The loyalty program contributed over $17 billion in terms of revenues as reported at the end of the year 2016. Another strategy employed by Hilton is premium pricing. Hilton utilizes the premium pricing policies for its upscale services and hotels. The pricing strategy is established to emphasize, among customers, the sense of status and luxury rather than the sense of stay and dining. Through the analysis of previous performance and strategies they provide to manage future profitability. For instance, they engage with sales teams for hotels with significant group/corporate business, to ensure corporate pricing structure is maximized throughout the RFP process. The management of Hilton believe every Hilton Worldwide property has its own unique strengths and challenges. As such they provide service and cost models tailored to each hotel, reflecting business complexity, size, and market environment. Hilton matches its service to the needs of the clients hotel, Hilton management believes that one size fits all. This consolidated approach means that Hilton maximize cost and scale efficiencies, rapidly sharing best practice, market and trend intelligence and ensuring appropriate affordability to each hotel. Hilton have focused on optimizing hotels market share and delivering market-beating revenue per available room (RevPAR) results. Hiltons team provides thorough analysis of previous performance and strategies to drive future profitability. Management Hilton Executive Committee is characterized by key personnel with diverse backgrounds who were able to bring the company to the prominence it now enjoys in the hospitality industry. Among those executive are Hiltons President and Chief Executive Officer, Christopher J. Nassetta. Nassetta has been one of the most important figure in the Hilton family since 2007. With a degree in finance, Nassetta has always been close to the hospitality industry and real estate market. In fact, he worked as President and Chief Executive Officer at Host Hotels Resorts, Inc. since 2000, and before he was Chief Development Officer for The Oliver Carr Company, one of the largest commercial real estate company in the Mid-Atlantic region. He is also involved in several non-profit organizations and volunteering. Another central leader in this profitable company is its Executive Vice President Chief Financial Officer, Kevin Jacobs. He began his experience at Hilton in 2008 covering various positions. He is now responsible of the companys global finance, information technology and real estate functions. As his President, Jacobs has a background in the hospitality industry working for other Hotels and Resorts corporations. Jim Holthouser joined Hilton board as Vice President of Global Brands in 1979. He directs the brand management and customer marketing across nine consumer brands for more than 4,000 hotels. With over 20 years of experience in the restaurant, lodging, and gaming industries, Holthouser has held a series of senior management positions within Hilton in the franchising, branding, and marketing arenas. The above mentioned key personnel are veterans in their own right with experience in hospitality and related industries, Hiltons executive team is well-positioned to accelerate its momentum. Hiltons executives collectively make a holistic team because they are from diverse background and shares common interests and values as such they all able to contribute to the holistic growth and development of Hilton Worldwide. Markets The hospitality industry is seasonal. It is common for Hilton and the other competitors to expect lower revenues in the first quarter of each year. According to Statista the global hotel industry in 2016 was valued at $490.06 billion. Reports by Financial Morningstar.com indicate that Hilton Worldwide is ranked among the largest player in the global hotel industry, Hilton and Marriott have the highest market share. They are followed by Wyndhams, Choice Hotels and International Hotels Groups. The global hotel industry is fragmented. There is no single company in a position to influence or dominate the industry as no company holds more than 5% of the global market shares. Hilton is growing quickly, as it has the highest global market share by room supply of approximately 4.7%. Hiltons operations are mainly concentrated in the United States, but it has started to increase its presence in the international market. Hilton has a higher market share of 9.3 % in the United States, it has a r elatively small share of 3% in other regions in the Middle East and Africa, 1.6 % in Europe, and 1.2 % in the Asia Pacific region. Hilton faces a strong competition as a hotel, resort, residential, and timeshare manager, franchisor, developer and owner. The hotel and lodging industry inspects several elements in terms of competition, such as the attractiveness of the facility, location, quality of accommodations, amenities, level of service, room rate, public and meeting spaces and other guest services, consistency of service, brand reputation and the ability to earn and redeem loyalty program points through a global system. Hilton principal competitors on a global scale are Marriott International, Accor S.A., Carlson Rezidor Group, MÃ ¶venpick Hotels and Resorts Hongkong and Shanghai Hotels, Hyatt Hotels Corporation, Intercontinental Hotel Group, and Wyndham Worldwide Corporation. Financial Analysis and Projections Financial History 2014-2015 Hilton Worldwide generates revenue from three business segments namely ownership, management and franchise and timeshare which accounts for the companys strong financial results. For fiscal year ending 2015 total revenue increased from $10,505,000,000 in 2014 to 1$1,272,000,000 in 2015, showing a growth of 6%. This positive revenue is attributed to recovery in the economy. Likewise, cost of revenue also increased from $4,029,000,000 in 2014 to $4,065,000,000. These cost of revenue are consistent with the companys portfolio expansion. However as a percentage revenues, cost of revenues decreased by 2% in 2015 which is a reflection of the companys extensive cost reducing strategy, meanwhile the companys gross profit margins increased by 2.27% in 2015. The companys selling and administrative, non-recurring, and other expenses as a percentage of revenues has shown slight increases over the past two years, which is consistent with expansions. However, the company was able to compress the cost of expenses so that these cost did not increase by more than the increase in revenues. On a per share basis, earnings showed a significant increase from $2.04 in 2014 to $4.26 in 2015, this represented an increase in performance. The companys net profit increased by 5.59% to 1,404,000,000 up from 673,000, 000, as Hilton launched its 13th brand, Tru by Hilton. Hiltons performance was as a result of the increase in revenues from owned and leased hotels in all segments and regions, with occupancy and rate increases in all regions except Middle East and Africa. Hiltons economic growth continued to drive performance, as global RevPAR increased from 3 to 5 percent. Hilton achieved record expansion and financial results in 2015 and continues to lead th e industry as the largest, best-performing and fastest-growing hospitality company. Fiscal Year ended 2016 The fiscal year ended 2016 was a record-breaking year for Hilton as the company increased its system size by 6.6% with 52,000 gross rooms opened, nearly one hotel per day was opened a total 354 hotels and started construction on nearly 77,000 rooms. The first quarter of the fiscal year 2016, was the slowest quarter for Hilton as they reported revenues of $2,750,000, 000, a 5% decrease over the corresponding period for 2015. The second quarter was the strongest quarter of the entire year, with a 9.9% revenue growth over the previous quarter. Revenues saw a consistent decline over the two last quarters. Net income for the first quarters of the 2016 was $ 309,000,000, a 48.5% increase over the corresponding period the previous year. However the company saw a significant reduction in net income over the three last quarters, and even posted a net loss in fourth quarter of 2016, the net loss was $382 million compared to net income of $816 million for the previous period in, 2015. During the fourth quarter of 2016, Hilton incurred a tax charge of $513 million related to a corporate restructuring executed before the spin-offs, resulting in a net loss for the period. For the fourth quarter of 2016, diluted loss per share was $1.17 compared to diluted earnings per share of $2.47 for the fourth quarter of 2015. For the fiscal year 2016, diluted EPS was $1.05 compared to $4.26 for the previous year. Net income was $364 million for the full year 2016 compared to $1,416 million for the fiscal year 2015, a 74% reduction. The companys performance for fiscal year 2016 reflect the effects of the spin-off of Park Hotels Resorts Inc. and Hilton Grand Vacations Inc. which was completed in January 2017. Consolidated Income Statement and Projections Common Size Expected Common Size Expected Common Size Actual Actual Actual All numbers in thousands Revenue 12/31/2018 12/31/2017 12/31/2016 12/31/2015 12/31/2014 Total Revenue 100% 9,661,440 100% 8,880,000 100% 11,663,000 11,272,000 10,502,000 Cost of Revenue 35.00% 3,381,504 35% 3,108,000 34.71% 4,048,000 4,065,000 4,019,000 Gross Profit 65.00% 6,279,936 65.00% 5,772,000 65.29% 7,615,000 7,207,000 6,483,000 Operating Expenses Selling General and Administrative 42.00% 4,057,805 40.00% 3,552,000 43.40% 5,062,000 4,741,000 4,182,000 Non-Recurring 0.09% 9,000 0.17% 15,000 0.13% 15,000 9,000 9,000 Others 5.88% 568,093 6.00% 532,800 5.88% 686,000 692,000 628,000 Total Operating Expenses Operating Income or Loss 1,645,039 1,672,200 1,861,000 2,071,000 1,673,000 Income from Continuing Operations Total Other Income/Expenses Net 4.50% 434,764.8 1.00% 88,800 0.15% -18,000 283,000 73,000 Earnings Before Interest and Taxes 21.53% 2,079,803 19.83% 1,761,000 15.79% 1,842,000 2,071,000 1,765,000 Interest Expense 5.00% 483072 5.00% 444,000 5.03% 587,000 575,000 618,000 Income Before Tax 13.00% 1,255,987.2 11.83% 1,050,600 10.76% 1,255,000 1,496,000 1,147,000 Income Tax Expense 5.00% 483072 5.00% 444,000 7.64% 891,000 80,000 465,000 Minority Interest 0.40% 38645.76 0.40% 35,520 0.43% 50,000 34,000 38,000 Net Income From Continuing Ops 8.00% 772,915.2 6.00% 532,800 3.05% 356,000 1,427,000 692,000 Net Income 7.60% 734269.44 6.43% 571,080 2.98% 348,000 1,404,000 673,000 Net Income Applicable To Common Shares 734,269.44 571,080 348,000 1,404,000 673,000 EPS Diluted 2.09 1.74 1.06 1.35 1.14 Average Share 350,000 329,000 329,730 1,040,000 590,350 Projections for Next Two years Current Fiscal year ending December 2017 As Hilton separate into three distinct, publicly traded company, in order to unlock growth opportunities and to take advantage of the capital market and tax efficiencies, there seems to be a dim outlook for the upcoming year. Experts project that revenues growth will decrease by 23.80% to 8.88 billion down from 11.66 billion in 2016. This expected decline in growth is not expected to translate in a reduction in overall EPS, as EPS, are expected to increase from $1.06 to $1.74. In fiscal 2017 the company plans to roll out its new simplified business model: A market leading fee-based business as over 90% of Hiltons revenue comes from franchise fee and management fee. This new business model is expected to generate significant revenues as the company continues to lead the industry in net unit growth without significant use of capital. Hilton intends to aggressively invest to drive revenues and manage risk. With the enhanced capabilities developed through the 354 hotels added in 2016 and the completion of a further 77,000 rooms. In addition, the company is expected to drive per unit growth due to the launch of its newest brand, Tapestry Collection by Hilton and extensive management contracts with large luxury hotels in countries such as China. However, general and administrative expense, non-recurring expenses and other expenses are projected to be flat compared to fiscal year 2016. Net profit is project to increase by 3.45% to 571,080 million. For the fiscal year ending December 2017, Hilton expects total revenue from continuing operations to increase by more than 20% up 88 million compared to the $18 million loss in 2016. Net unit growth is expected to be roughly 50,000 to 55,000 rooms as such system-wide RevPAR is projected to increase anywhere from 1 to 3 percent compared to 2016. For the fiscal year 2017 cash available for capital return and debt prepayments is projected to be between $900 million and $1 billion. Likewise, capital expenditures for the year, excluding amounts reimbursed by hotel owners, are estimated to be between $150 million and $200 million. Fiscal Year Ending December 2018 For the fiscal year ending December 2018, revenue are projected to increase by an average of 8.80 %, up to $9.67 billion, while earnings are expected to grow to an average of 2% to roughly $2.08 billion, showing positive prospects of continued growth. The earnings per shares are expected to show a corresponding increase from $1.74 to $2.08. Hilton is expected to drive leading investment returns to hotel owners, as hotel owners continue to invest in Hiltons system growth. Hilton is also expecting its market-leading growth to be amplified by its new brands that will bring new customers into its system and offers more opportunities for its existing customers to stay with the company. Capitalization and Other Asset and Liability Analysis During fiscal year 2016, in preparation for the spin-offs, Hilton entered into a series of financing transactions, of which the debt incurred by HGV and Park is the sole obligation of those entities after the spin-offs. Hilton entered into a $200 million senior secured term loan facility for HGV, the company also entered into a $750 million senior unsecured term loan facility for Park and issued two new commercial mortgage-backed securities (CMBS) loans for Park totaling $2 billion. The company also repaid $250 million on the senior secured term loan facility entered into in 2013. Finally the company borrowed $300 million on the revolving non-recourse timeshare financing receivables credit facility entered into in 2013 for HGV. Also during the fourth quarter of 2016, Hilton repaid the outstanding balance of $3,418 million on a CMBS loan entered into in 2013 and a $450 million mortgage loan, using net proceeds from 2016 borrowings and available cash. As of December 31, 2016, Hilton had $10.2 billion of long-term debt outstanding, of which $3.0 billion is transferred to Park and $0.5 billion is transferred to HGV in connection with the spin-offs. As of December 31, 2016, total cash and cash equivalents was $1,684 million, net receivables was $1.15 billion, inventory amounted to 541 million and other current assets was 176 million. In December 2016, Hilton paid a quarterly cash dividend of $0.07 per share on outstanding common shares, a total of $70 million, bringing total cash dividends paid in 2016 to $277 million. Hilton ended 2016 with property plant and equipment valued $8,930 million, goodwill of $5,822 million, intangible asset of $6,374 million, and other assets of $334 million the company also had deferred long term asset charge of 117 million. Hiltons total asset increased by 495 million to $26,211 million up from $25, 716 million in 2015. At the end of the 2016 the Hiltons had a working capital of $873 million, this indicates that the company has the ability to pay its short term liabilities. The current ratio is 1.33:1, which is also an indication of the companys ability to honor its short term obligations as they fall dues. Hiltons has $2,684 in total current liabilities, $20,312 million in total liabilities and total stockholders equity of $5,899 million and decrease of 52 million over the same pe riod in 2015. Projections indicate that along with Hilton s new simplifies business model and the separation of the three companies, the current capitalization structure Hilton should be profitable without the need for excess borrowing. Balance Sheet for year ended 31, December 2016 All numbers in thousands Current Assets $ Current Liabilities $ Cash And Cash Equivalents 1,684,000 Accounts Payable 2,513,000 Net Receivables 1,156,000 Short/Current Long Term Debt 171,000

How Far Will Microsoft Get? :: essays research papers

How Far Will Microsoft Get?   Ã‚  Ã‚  Ã‚  Ã‚  The first question that we must ask is, â€Å"How dangerous is Microsoft?† There are two chief groups as the objects of that question – that of Microsoft’s product consumers and that of Microsoft’s competitors. A distinction must be made between the two when answering such a question due to the extreme differences between both. Whether a decision or action made by Microsoft is beneficial or not to one of the two does not mean that it’s true for the other. Often times the opposite is true. In fact, most consumers barely regard Microsoft as the dangerous monsters some view them to be. What Microsoft leads their consumers to believe is that their product is superior, and more affordable. Many competitors have voiced cries of monopolistic abuse saying that Microsoft unfairly exploits it’s ownership of the personal computer operating system. One of the main complaints they have is with the Microsoft ownership of the actual base operating system of all Windows computers: MS-DOS. Bill Gates, the chairman and co-founder of Microsoft, has done an excellent job of hiding DOS behind his company’s Windows software. Together, DOS and Windows have had an incredible influence on the computer world taking almost 95% of the personal computers on the market. Because of Microsoft’s dominance in these two areas of personal computing the company receives an advantage that is essential in determining the danger Microsoft exhibits toward their competitors. Bill Gates tightened his grasp on the industry through an ingenious deal he made with PC producers. In the contract, Gates is guaranteed payment for every computer shipped, regardless of whether or not his operating system was installed in the computer. Thus, without paying double, the manufacturers could not install another company’s operating system -- therefore Microsoft was awarded a near monopoly. The title to these two programs, especially Wind ows, provides Microsoft with an unrestricted and exclusive median to promote, feature, and offer its programs. Offering its programs as pre-installed applications of Windows software allows Microsoft to seize a large portion of the software market, especially in the word-processing and spreadsheet division where Microsoft presents its Word and Excel programs. These two applications have been incorporated, along with others, into a package known as Microsoft Office. With this program, Microsoft has captured ninety percent of that market. Furthermore, because Microsoft controls the operating system of the PC, its competitors must render their applications and software compatible with the parameters contrived by Microsoft.

Imagination vs Reality in Literature Essay

â€Å"Aren’t grown-ups supposed to read realistic fiction? What good are these wild tales, anyway? † (â€Å"Speculative† 200). In author Vandana Singh’s â€Å"A Speculative Manifesto†, she describes how important speculative fiction is in the education of students in literature. Speculative fiction is combination of several different genres of literature, such as mystery, science fiction, historical fiction and fantasy. Vandana Singh asks in her manifesto if education is based on the truth then â€Å"[w]hy not discard the old myths, legends, tall tales, and their modern counterparts, as we discard other childish things† (200). Vandana Singh believes that both children and adults need the literature for their imagination. In the manifesto, she describes who imagination allows us as humans to dream. Although science fiction and fantasy can also help ones with their imagination, through our imagination we can make up â€Å"ingenious thought-experiments, through asking ‘what-if’ questions and attempt[] to answer them† (202). According to Vandana Singh, speculative fiction allows us to question our lives and â€Å"live out possible futures before we come to them† (202). Speculative fiction and feminist literature can be intertwined together to make stories as well. Vandana Singh uses a blend of these two literature genres in order to write her short story The Woman Who Thought She Was A Planet. Although these two genres may be viewed as two separate pieces of literature, Vandana Singh uses her imagination and her background in her Indian culture to create the story. In one of Vandana Singh’s short stories, The Woman Who Thought She Was A Planet, she uses her speculative fiction beliefs and her imagination to describe a story about a woman going through â€Å"changes†. This story starts off at the kitchen table where Ramnath Mishra is partaking in his usual morning routine when his wife announced, â€Å"’I know at last what I am. I am a planet’† (39). Shocked and confused about his wife’s announcement, Ramnath believed that his wife, Kamala, had merely lost her mind. Ramnath believed that the only way for his wife to get better was to phone the doctor, however Kamala did not think she was ill. Kamala states to Ramnath, â€Å"’I am a planet. I used to be a human, a woman, a wife and mother’† (40). Ramnath could not understand how he did not actually know the person whom he has lived with for the past forty years, â€Å"[s]he looked like a stranger† (43). He thought that a planet has to be â€Å"an inanimate object circling a star† and that there was no way Kamala, a human, could be a planet (40). Living in an Indian culture, Ramnath was extremely embarrassed by his wife’s actions. She constantly tried to undress her clothes because she believed that planets do not need a sari. As Ramnath described how his great aunt went mad, â€Å"[w]hat a terrible dishonor the family had suffered, what indignity† (41). He worried that Kamala was going to create great embarrassment, not only for him but for his family’s name as well. At night, Ramnath found himself wishing Kamala dead, even began plotting different ways for going about killing her, â€Å"[h]e could not live like this† (46). One evening, as Kamala was sleeping, Ramnath noticed that she seemed to be coughing something up, which was exciting for Ramnath because he believed that she was going to die on her own, without his help. Moments later, Ramnath observed some â€Å"jelly-like† substance coming out of her mouth. He realized that this substance was made up of â€Å"small, moving things† (47). These â€Å"aliens† began pouring out of Kamala’s mouth attacking Ramnath, but not waking Kamala. In the morning, still terrified by what happened last night, Ramnath laid in bed until his wife woke up. Once awake, she explained that if she knew what was happening she would have explained to these creatures not to hurt him. Kamala explained to Ramnath that these creatures were â€Å"inhabitants† and reminded him that she is a planet. Kamala then went on to describe how the younger â€Å"inhabitants† were trying to colonized and asked Ramnath to be a planet with her. Kamala explained to Ramnath that â€Å"[a] planet needs sun†¦ My journey is just beginning† (50). Later, Ramnath and Kamala went on a walk, where Kamala ran into the park where there was a man selling balloons, which she is fascinated by. After being captivated by the way the balloons floated into the sky when letting them go, Kamala began â€Å"[s]lowly and majestically†¦ rise over the ground† (52). Her clothing slowly began to fall from the sky, as she was rotating and floated higher and higher. â€Å"For a moment [Ramnath] almost envied her† as she floated into the starts, he ran into the house and as he went to scream, â€Å"the insectoids were already marching up his back, over his shoulder and into his terrified, open mouth† (54). In an interview, Vanadana Singh was asked what her appeal to speculative fiction was, her response being, â€Å"[t]he best speculative fiction demands a boldness of imagination and a vastness of scope that no other literature can offer (Tan). In Vandana Singh’s short story, The Woman Who Thought She Was A Planet, it is shown that her imagination was used enormously in order to not only come up with the story, but to use such great detail. Speculative fiction, â€Å"with its aliens and magic and warp drives, set against the backdrop of the universe itself. † (â€Å"Manifesto† 203). In the interview, Vandana Singh also adds that â€Å"the sense of wonder that [speculative fiction] evokes, the engagement with ideas, and the fact that it provides a two-way mirror for looking at the world one wonders why everyone doesn’t read the stuff† (Tan). Not only does Vandana Singh’s short story, The Woman Who Thought She Was A Planet, use great imagination, it also includes the truths behind the Indian culture in marriage. The man of the house is the â€Å"leader† of the family. Also this story shows how it is extremely embarrassing for a woman to not only get nude in public, but in the house. The Woman Who Thought She Was A Planet is a wonderful example of a piece of feminist literature. Feminist Literature is described as a question of women’s role in society and complex conceptions of gender. In this short story, it shows that Kamala was trying to become her own woman. She believed that there were â€Å"inhabits† inside of her. She routinely attempted to take her clothing off, which infuriated Ramnath and also embarrassed him to an extreme end. An additional example of how The Woman Who Thought She Was A Planet was used for feminist critique is that it shows that in other cultures besides our own, woman are always trying to be themselves and not have to be held down to the â€Å"norms† that are expected of them. Although in this story Kamala may not have been able to control her actions completely, it shows the way the Indian culture views people when they act out and how one little action can be viewed as such an embarrassment. Works Cited Singh, Vandana. A Speculative Manifesto. Framingham: n. p. , 2008. 200-04. Print. Singh, Vandana. The Woman Who Thought She Was a Planet: And Other Stories. New Delhi, India: Zubaan, in Collaboration with Penguin India, 2008. 39-54. Print. Tan, Charles. â€Å"The World SF Blog. † The World SF Blog. The World SF Blog, 2012. Web. 10 Oct. 2013. .

Hrm: Selection Process

UNIVERSITY OF SAN AGUSTIN GRADUATE SCHOOL MASTER OF BUSINESS ADMINISTRATION SELECTION PROCESS: SURVIVAL OF THE FITTEST IN PARTIAL FULLFILLMENT OF THE REQUIREMENTS ON THE HUMAN RESOURCE MANAGEMENT SUBMITTED BY: MAY O. TOLENTINO SUBMITTED TO: DR. CARMEN N. HERNANDEZ Selection Process: Survival of the Fittest Introduction Charles Darwin first pondered this concept in his work On the Origin of Species during the 19th century in the context of the survival and extinction of biological species.Later did Herbert Spencer coin the phrase to draw comparable idea on his economic theories. Survival of the fittest according to Darwin’s theory means that only the ones most suited to a particular environment will survive. Those who can’t adapt will surely perish, while those who can adapt will stick around, and maybe even become suited to new environments. We might ask did they discover anything that might be applicable to business in the 21st Century? Or its relevance could be also a pplied in human resource management more specifically in selection process?Let us think of nature and ecological systems as a vast â€Å"free market† of perfect competition, where all living organisms are competing with each other for limited resources (sunlight, water, minerals, etc. )? Synonymous as to the many job applicants competing with each other in a struggle for survival or in plain employment term- to be hired. To be chosen as the best fitted candidate among the crowd of applicants for the one coveted position is indeed collectively tend to operate in ways analogous to natural eco-systems.Is it possible that success and survival in the wild might be analogous to success and survival in the employment race? Selection can be conceptualized in terms of either choosing the fit candidates or rejecting the unfit candidates, or a combination of both. Selection process assumes that there are more candidates than the number of candidates actually selected, made possible thro ugh the recruitment process. According to Gupta (2006), selection is the process of choosing the suitable persons out of all the participants.In this process, relevant information is collected through a series of steps so as to evaluate their suitability on the job to be filled. Furthermore, selection is the process of assessing the candidates in various means and making a choice followed with an offer of employment (Graham, 1998, p. 206). Selection is an important function as no organization can achieve its goal without selecting the right people, where wrong choice would lead to wastage of time, money and spoils the environment of the organization.In this regard, scientific selection and placement of personnel will go a long way in building up a stable workforce, where it helps to reduce absenteeism and labor turnover as well as very helpful in increasing the efficiency and productivity of the organization (Dessler, 2005). Selection vs. Recruitment Selection is different from recr uitment, where recruitment technically happens before selection. Recruitment involves identifying the sources of manpower and encourages them to apply for the job opening. On the other hand, selection is choosing the best out of those recruited.Recruitment aims at increasing the number of applications for more choices. According to Prasad (2005), recruitment and selection differs in terms of objective, process, technique, and outcome which are discussed as follows: Firstly, the ultimate purpose of both is to acquire suitable candidates but their immediate objectives differ, where the basic objective of recruitment is to attract maximum number of candidates so that more choices are available; the basic objective of selection is to choose best out of the available candidates.Secondly, recruitment differs from selection in terms of process, where it adopts the process of creating application as large as possible; while selection adopts the process of screening as fewer candidates or so metimes one candidate is selected. Thirdly, as to the techniques involve; recruitment techniques are not really intensive, requiring skills as against in selection process where highly specialized techniques are required.Lastly, since both are interlinked steps in the process of manpower acquisition, they differ in terms of outcome; where the outcome for recruitment is application pool which become input for selection process which on the other hand the outcome is finalizing the candidates who will be offered jobs. Factors (Conditions) for Selection Process The basic idea in selection process is to solicit maximum possible information about the candidates to ascertain their suitability for the employment; and given the fact that there are factors which affect in collecting such information (Prasad, 2005, p. 06), he proposed the following factors which determine the steps in the selection process: 1. Various steps involve in the selection process depend on the type of personnel to be selected. For example, more information is required in the selection of a manager than a subordinate worker. 2. Selection process depends on the sources of recruitment and the method that is adapted for making contact with prospective candidates.For example if we used tv ads, selection process is more time consuming and comprehensive whereas campus recruitment is shortened and maybe completed in a day. 3. Selection process depends on the number of candidates that are available for selection. If a large number of applicants, we also need to create various filtering points to reduce the number of applicants at a successive point while a small applicant turnout would mean lesser filtering points required. 4. Organization’s selection policy also determines the ways to be involved in the selection process.For example in JBLFMU context, where selection of industry experts as Board Members are stipulated in the policy should be an alumnus of the university and hold the highest or p resident position of any international sponsored shipping companies in the Philippines. Gupta suggests that the selection process can be successful if the following conditions are met: 1. Someone should have the authority to select; where this authority comes from the employment requisition as developed through analysis of the workload and workforce. 2. There must be one standard of human resource with which applicant can be compared.In other words, a comprehensive job description and job specification should be available beforehand. 3. There must be a sufficient number of applicants from whom the required number of employees maybe selected. In this regard, recruitment and selection process invariably influence the whole matter of employment function in the organization. Steps in Selection Process Selection process consist of the series of steps; at each stage, facts may reveal something about a candidate that may either be a win or blow on his/her chances on the job. It is a series of barriers or challenges in which the applicant must cross.These hurdles or screens are designed to eliminate unqualified candidate at any point in the selection process. There is no exact formula or standards to be used in all organizations or for all jobs. The complexity of selection procedures increases with the level of responsibility of the position to be filled. Therefore, the strategy and method used for selecting employees varies from firm to firm or from one job to another. For instance in JBLFMU, the recruitment and selection process differs to a faculty candidate and a personnel applicant.Scholars of Human Resource Management such as Gupta, Prasad, Armstrong, and Ivancevich, suggested the following steps to be involved in employee selection process, though not necessarily to be implemented chronologically: 1. Preliminary Interview 2. Application Form 3. Selection Test (Physical, Cognitive and Personality Test) 4. Work Samples 5. Employment Interview 6. Medical Examinati on 7. Reference or Background Check 8. Final Approval 9. Employment 10. Induction 11. Follow-up or Evaluation Applicability of Selection Process in JBLFMUIn the context of JBLFMU environment; most of the above steps in selection process are applied both on academic and non-academic personnel, however the exercise does vary from the steps. For instance, in non-academic personnel once applications are received, short listing of applicants is done by the HR officer in respect to the applied jobs, preliminary interview is organized with the respective department head, methods of assessment is done by administering various forms like taking of aptitude or job related and personality tests.Then those who passed will go to another round of final interview then final selection is done together with the department officer. Selected applicant is called to fill various forms including medical examination to effect his/her employment; if found fit is awarded offer of employment stipulating term s and conditions of employment. Duties are assigned and orientation is undertaken. But if all applicants happen to fail the standards of the selection process, the post will be advertised again for recruitment. As for academic personnel, the difference lies on the additional steps of a twice presentation of simulated teaching.Then the person to approve the teaching plantilla will include the HR Officer, Subject Area Head, Dean of the College and the university administrator. To wit based from the theories discussed above, JBLFMU abides to the following steps in selection process: 1. Screening of applications, where available applications should be short listed in respect to their qualifications and experience in correspond to the job requirement. Only applicants who fit the bill should be interviewed. For large number of applicants, aptitude test could be used to screen them. 2.Prepare for the interview, where at this step the type of interview is established, it can be I groups or individually; written or oral interview. Guideline and questions are prepared beforehand. 3. Develop factors and methods of assessment, where various score sheets and assessment forms are prepared in order to maintain consistency. 4. Conduct the interview or as for academic personnel a demo teaching, where at this stage applicants are given equal chance to demonstrate their strength and capabilities in respect to the requirement of the job. 5. To undertake cross referencing for interviewees.Check resumes for related experiences and background check. 6. Communicating the decision to the candidates. At this stage the applicant is informed of the result via letter or phone call. The chosen candidate will be asked to come and fill required forms to effect the employment. 7. Requiring a medical examination on the selected applicant to avoid future problems that might affect job performance. 8. Offering letter of employment and filling required forms to effect employment functions, where in that contract stipulates terms and conditions of employment. 9. Placement and orientation.It is at this step the JBLFMU selection process ends, where the employed applicant is endorsed under his/her supervisor followed by a company orientation. Conclusion Therefore, the basic objective of selection is to hire those candidates that are suitable or fitted for the position with a high probability of job success. A multiple hurdle plan is the best selection strategy. Selection hurdles or tests include pre-employment inquiries, application forms, initial screening interviews, background investigations, teaching demo for academic applicants and interviews.Also, recruiting and selecting the right people for the company is a challenge, and every situation is unique. JBLFMU should be innovative, persistent and realistic, and can communicate the strength of the institution and the benefits of the position offered to attract high quality employees to build careers in the organization. Survi val of the fittest in selection process perspective redounds to matching the best qualified candidate to fit the requisites or requirements of the job in achieving organizational goals. This in turn will mutually benefit the individual and the organization, as they adapt to the changing environment.Bibliography Armstrong, M. (2006). A Handbook of Human Resource Management Practice. (10th edition ed. ). London: Kogan Page Limited. Dessler, G. (2005). Human Resource Management. (10th edition ed. ). New Jersey: Pearson Prentice Hall. Gupta, C. (2006). Human Resource Management (Rev. Edition ed. ). New Delhi: Sultan Chad and Sons. Ivancevich, J. (2003). Human Resource Management (9th Edition ed. ). New York: McGraw Hill. Prasad, L. (2005). Human Resource Management (2nd Edition ed. ). New Delhi: Sultan Chad and Sons. Rush, D. (1995). Biology: Natural Science (3rd Edition ed. ) New York: Pearson Prentice Hall.