Legal Studies Essay International Crime

International Crime -Crimes against Humanity †¢ Using the case study of Srebrenica, evaluate the effectiveness of international and domestic legal systems in dealing with crimes against the international community International laws and mechanisms to deal with international crime are vast in number. They aid in promoting common moral and ethical standards to be administered worldwide. Tribunals such as the International Criminal Tribunal for Yugoslavia (ICTY) and the International Criminal Court (ICC) have provided a mechanism to deal with international crime.Collaborations of member countries allow these Courts to implement certain justice, but the limitations and ineffectiveness is highlighted when breaches of their administration occur leading to miscarriage of justice for victims, offenders and society. The International Criminal Court The International Criminal Court has been a legal mechanism which deals with international crime and which has had varying effectiveness. The ICC is the world’s first permanent international criminal court and 111 countries have ratified its Rome Statute.The media article â€Å"Effectiveness of ICC without US Support†, Radio Netherlands, 18 June 2009, argues that, even though major powers like India, China and Russia are still not party to the Rome Statue of 2002, the Court has at least managed to put an end to those who may have otherwise escaped punishment from crimes against humanity. Steven Freeland’s article â€Å"Eradicating Evil is on Trial†, The Australian, 2008, highlights the fact that without the ICC and other international tribunals, many thousands of victims and their families would receive no justice at all.However the ICC has limited effectiveness due to its limited ability to enforce international law. One aspect that hinders the effectiveness is the fact that the ICC and other international tribunals have no police force and are reliant on states to arrest indicted victims and bring them before the appropriate court. Without the political will to cooperate in this process the court’s effectiveness is limited.The arrest warrants issued by the ICC against President Omar al-Bashir of Sudan for genocide committed in Darfur, and Bashir’s ongoing contempt for them, are an example of the limitations of international courts in failing to provide justice. Al Bashir’s warrant is the first issued against a sitting head of state, however states lack the necessary will to ensure he is brought to the court. The ineffectiveness is also evident as the court’s warrant lacks enforceability.Further, the Court has only convicted one person during its ten years of operations, Thomas Lubanga, who was jailed for 14 years for recruiting child soldiers, as per the article â€Å"Congolese Warlord Sentenced for 14 Years† News Africa, 10 July 2012. The fact that the Court has arrested only six people and convicted one illustrates the struggles the court faces in delivering justice. The International Criminal Tribunal for former Yugoslavia (ICTY) International courts are often criticised for being ineffective due to their lack of enforcement.However, the International Criminal Tribunal for Yugoslavia reflects an increase in effectiveness. The ICTY is effective as it delivers justice when there is non-compliance of international law. As reported in the Sydney Morning Herald on 20 July 2011, the last remaining fugitive, Goran Hadzic, was arrested by the war crimes tribunal, however it took 18 years to send him to trial. According to the ICTY’s website accessed February 2012, the Tribunal has indicted 161 persons for serious violations of international humanitarian law committed in the territory of the former Yugoslavia.Of this number, 64 have been sentenced, 13 referred to other jurisdictions and 35 proceedings are ongoing. An example of a sentence which provided justice was when Milan Lukic received life imprisonment. T he ICTY is effective as it is effective in delivering justice to offenders, though this has taken years to achieve and is ongoing. Domestic legal systems have been intermittently effective in dealing with crimes against the international community. According to the Sydney Morning Herald, September 2011, the Australian government extradited the accused war criminal Dragan Vasiljkovic to the Tribunal, despite his efforts to block deportation.However, the Sydney Morning Herald article â€Å"See No Evil is Australia’s Way on War Crimes†, October 2011, contrasts the poor performance on the David Hicks affair and argues that Australia has an inconsistent approach to dealing with international crime. Further, the ruling of the Dutch Court in July 2011 that the Netherlands was responsible for the deaths at Srebrenica is a landmark decision that countries contributing to peacekeeping can be held accountable for their actions. Therefore domestic legal systems can be effective in dealing with international crime.The ICTY is effective as it has delivered judgments which promote justice for individuals and society. A landmark ruling of the court was when it ruled mass rape in the time of war a crime against humanity, the first time a court had made such a ruling. As reported in The Guardian newspaper on 23 February 2001, this ruling gave hope to thousands of women abused in times of war. The Court is effective has it reflects moral and ethical standards. The ICTY is effective as it is promotes access to justice for individuals.The Court has a victims and witness section which provides meals and accommodation to witnesses. It also has a translation department and its own legal aid system. Many accused cannot afford legal counsel to gain a fair trial and, according to the ICTY website accessed February 2012, Legal aid accounts for 11% of the tribunal’s budget. Whilst these funds have promoted justice for individuals and victims, a factor which weakens th e Tribunal’s effectiveness is that of resource efficiency as the court cost nearly $301 million to operate in the 2011-12 year.Conclusion The ICC and the ICTY are examples of mechanisms which protect the rights of individuals. International Courts however rely on the cooperation of nation states to ensure accused are brought to justice. Limitations such as government sovereignty and a lack of enforceability means that after the war crime, justice may not be achieved in a timely manner (such as in the Srebrenica case). The ICC and the ICTY are therefore mechanisms which vary in their effectiveness in providing justice.

Anglo American Dissatation

Introduction Anglo American Plc is a mining conglomerate and is one of the largest companies within the mining industry. It originally started in 1917 as a gold mining company going by the name of Anglo American Corp; the name was created when the initial starting capital of ? 1million was raised from U. K. and U. S. sources (Forbes 2006). In 1999, following a major strategic review, Anglo American merged with Luxembourg headquartered Minorco to form Anglo American Plc, with its primary stock exchange listing and head office in London and secondary listings in Johannesburg, Switzerland, Botswana and Namibia (Anglo American 2012d).Anglo American â€Å"operates in Africa, Europe, South and North America, Australia and Asia† and is a global leader in the mining of both platinum and diamonds (Anglo American 2012c). They employ approximately 100,000 people (Anglo American 2012c) across the world, both in the mines and in local offices, with the majority of employees being based in South Africa, 79,000 (Anglo American 2011). Anglo American employs 10,000 people in South America, which is the second largest proportion of employees in the company, and employs 11,000 people in other countries across the globe (Anglo American 2011).South Africa produces the highest amount of revenue by origin, $17,855million in 2011, which accounted for 49% of the group’s total revenue for that year (Anglo American 2011). When comparing all the countries’ revenue for the year, South Africa has a very dominant position, as all the other countries have less significant revenues of $5,058million or lower (Anglo American 2011). This suggests that South Africa is the main country for production. They have a highly diversified mining portfolio, comprising of many metals and minerals.In 2011, Anglo American increased their shareholding to 85% in the world’s leading diamond company, De Beers (Anglo American 2012a), which accounted for 6% of the share of Anglo American ’s operating profit in 2011 (Anglo American 2012c). The company employs 16,000 people in the diamond division, in North America and Africa, which is the second largest percentage of employees across the group (Anglo American 2011). Another subsidiary of Anglo American is Anglo American Platinum Ltd. AAP), of which they own 80% and employ 55,000 people, which is the largest proportion of employees across the company, 55% (Anglo American 2011). AAP is the main producer of platinum in the world, accounting for 40% of the global supply (Anglo American 2012c). Iron ore is the most predominant area of Anglo Americans operating activities with the largest share of the group’s profit in 2011 of 41%, $4520Million (Anglo American 2011). This is significant in comparison with the second highest area of operating profit, copper, which attributed to $2461Million, 22%, of the operating profit.Anglo American also produce metallurgical and thermal coal, nickel and other materials, whi ch, although contribute to the company’s profits, are less significant in comparison to the more major operations of diamond, copper, iron ore and platinum. Anglo Americans main corporate aim is to, â€Å"be the leading global mining company becoming the industry’s largest employer, partner and investment of choice† (Anglo American 2012f). They believe a â€Å"sound strategy, sustainable development and good corporate governance are essential to achieve this goal†. (Anglo American 2012f) MethodologyAt the first meeting, the group decided that the company study was to be worked on two days a week and a table was drawn up in order to manage the time efficiently to ensure the deadline was met. The table comprised of a ‘plan’ and ‘achieved’ column for each date during the weeks leading up to the deadline of 14th December, see Appendix A. After the first meeting, the group went away to do some individual brief research on the given co mpany in order to get background knowledge of Anglo American and so the in depth research for each section could be carried out at the next meeting.In order to make the most of the time given, the group was divided so that each of the main sections were researched thoroughly in order to give a more detailed report. The group followed the recommendations, allowing a third of the time to carry out research, a third on writing up the report and a third on editing and producing the final piece. After the research had been carried out on all sections, different members of the group began writing up different sections of the report using the information previously obtained.The group then looked over each other’s sections in order to make sure all relevant information was included, to check for grammar and spelling mistakes and to make sure enough references had been used. This was important to ensure all members had a good understanding of each section. Anglo American’s webs ite and annual reports were the main source of information for the company study. The issues surrounding Anglo American during the past year allowed for many relevant news articles to be widely available for use within the financial management section.After the report had been completed, the group booked weekly sessions in the Techno booths with print outs of the completed report, to ensure all members of the group were familiar with all sections. The presentation was then brainstormed and the main points put on a PowerPoint, which then allowed for the presentation to be practiced over a couple of weeks prior to the deadline. Many rehearsals of the presentation were carried out to ensure it filled the time allocation required and it flowed well.Problems occurred with the methodology closer to the deadline, as members of the group had less spare time to work on the company study, due to other assignments being due in around the same time. Financial Accounting Corporate Governance As a global organisation it is crucial that Anglo American complies with the highest standards of corporate governance, to ensure any agency problems within the company are minimised and the company is well run. Anglo American aims to â€Å"direct and control its company in a transparent and accountable way. † (Anglo American 2012f).From the 2010 board effectiveness review, an action plan was created to improve the relationship between the board and management, which could have helped reduce the conflicts of interests and agency problem. The action plan was to Increase contact between directors and management between board meetings and â€Å"Introduce more ‘free flowing' informal discussions outside board meetings – the pre-board meeting dinners will be more ‘structured' whilst retaining an informal style† (Anglo American 2011). In 2011, this action plan was reviewed and changes within Anglo American were made. The flow of management information to the Board was enhanced and the frequency of dissemination of this was improved. † â€Å"Structured board dinners also took place during the year where matters such as strategy were discussed† (Anglo American 2011). This shows good corporate governance by Anglo American as areas of the business which need work are being identified by the company and being acted upon accordingly to improve the effectiveness and control. The Anglo American board is chaired by Sir John Parker and consists of two executive and eight non-executive directors. 0% of this board it made up by women, this suggests that the Anglo American board could be more diverse. In the current business economy, â€Å"Regulators, politicians and shareholders are each stepping up pressure on companies for greater board  diversity  as part of a drive for better governance† (Robertson 2012). The Lord Davies Women on Boards report set a target of 25% minimum of board members to be female by 2015. Anglo Ameri can stated in their annual report their â€Å"intention to increase the representation of women on the Board from 20% to about 30% by 2013† (Anglo American 2011), which is two years below the national expectation.This is an example of good corporate governance by Anglo American as it is adhering to policies and targets which are not compulsory and also has disclosed in its annual statement, its future intentions to increase diversity in the boardroom. Anglo American also has a nomination committee which â€Å"aim is to build on the existing diversity of the board by identifying and nominating suitably qualified candidates† (Anglo American 2011). This is viewed as being good corporate governance by the company as Anglo American is making sure before directors are appointed that they are right for the job and the best candidate is chosen.To do this, they are considering both men and women for the job roles which is widening the talent pool. The Government passed the UK B ribery Act 2010, under this act the â€Å"defence  for a company against this liability is to prove that it had ‘adequate procedures’ in place to prevent bribery† (Wilkinson 2010). To comply with this act, Anglo American have implemented the necessary procedures to ensure that its business integrity policy operates effectively, so the risk of bribery is minimised as far as possible (Anglo American 2011).During the year, Anglo American developed enhanced guidelines on the acceptance and provisions for gifts and entertainment and provided specific guidance on the procedures to be followed where risks were considered higher. This is a good example of corporate governance as this would reflect positively for shareholders and potential investors, as new laws are being adhered to. In accordance with the UK Corporate Governance Code, Anglo American continue to propose the re-election of all its directors on an annual basis (Anglo American 2011), which ensures good cor porate governance, as directors will always be of the highest quality possible.Within Anglo American â€Å"The Audit Committee plays a pivotal role in ensuring high standards of corporate governance and provides assurance to the Board on its reports to shareholders† (Anglo American 2011). In Anglo American, the audit committee comprises of four independent non-executive directors. The audit committee is also charged with reviewing the results of the key risk management process, â€Å"being involved in the risk management procedures of the company† (Anglo American 2011).However, to improve the governance in this area Anglo American could disclose the main risks to the company and the strategy it has in place to deal with these risks. The Audit committee is also responsible for the whistleblowing programme which the group has had in place for a number of years. It â€Å"is designed to enable employees, customers, suppliers, managers or other stakeholders, on a confident ial basis, to raise concerns in cases where conduct is deemed to be contrary to our values† (Anglo American 2011).This shows good corporate governance as there is a programme which has been set up by the group where stakeholders, can report failures and discrepancies within the company, to independent non-executive directors. However, Anglo American could disclose the procedures which are to be followed when issues are reported. Within Anglo American, the board delegates certain responsibilities to a number of committees; these include the Remuneration committee, Nomination committee and Audit committee.In coherence with the UK combined code of corporate governance there â€Å"should be a formal and transparent procedure for developing policy on executive remuneration and fixing individuals director’s remuneration packages, no director should be involved in deciding their own remuneration† (FRC 2012). Anglo American’s remuneration committee seeks advice fr om external advisers Pricewaterhouse Coopers LLP, Linklaters LLP, Mercer Limited and Deloitte LLP, to help determine the director’s remuneration packages.Anglo American describes its policy as being â€Å"formulated to attract and retain high-calibre executives and to motivate them to develop and implement the Company’s business strategy in order to optimise long-term shareholder value creation† (Anglo American 2011). The remuneration mix is an important part of good corporate governance as it ensures that the company has an appropriate blend of basic and performance related pay as the remuneration committee will see as suitable.This will ensure that the directors will strive to achieve the main goal of increasing shareholder wealth. At the present time, director’s remuneration is calculated on the industry median for the mining sector and is adjusted by the director’s performance and experience. Anglo American could improve their corporate governa nce by setting director’s remuneration packages at the industry averages only. Within Anglo American, each executive director’s total remuneration consists of basic salary, annual bonus, long-term incentives and benefits.This ensures that an appropriate balance is maintained between fixed and performance-related remuneration (Anglo American 2011). However, the sheer value of some of the bonus packages is likely to affect shareholders wealth and the willingness for potential investors to invest. An article from the Telegraph explains that the chief executive of Anglo American was handed a 38 per cent increase in pay last year, with a total package worth ? 2. 17m, however the cash element of her annual performance bonus was increased by 134 per cent to ? 962,000.Never the less, at this time shares in Anglo American fell by 14 per cent over the course of 2011 (White 2012). This could be viewed as bad corporate governance by the company as despite the share price falling t he chief executives pay has been dramatically increased. To help the directors ensure they have a meaningful stake in the performance of the company, in 2004 the remuneration committee devised a Bonus Share Plan (BSP), â€Å"which requires executive directors to invest a significant proportion of their remuneration in shares† (Anglo American 2011).This demonstrates good corporate governance, as it aligns the directors’ interests with that of the shareholders, reducing the agency problem. The bonus share plan also weakens independence of the directors within the company, as it is giving them greater interest within the company on a personal level. Training is offered to new directors in order to develop a comprehensive view of Anglo American’s company, continuous training is also available to directors throughout their employment.However, the governance could be improved by disclosing in the annual report the nature and the schedule of the training, so the stakeh olders know what is being covered in the induction training. Within the annual report for Anglo American there is a statement of director’s responsibilities, which sets out what is expected of the directors. The board should present a balanced, true and fair view of the company’s position and prospects. Under company law the directors should not approve the accounts unless they are satisfied that they give a true and fair view of the affairs of Anglo American.This shows good corporate governance from the company as in the annual report it breaks down the directors responsibilities, however this could be improved by giving details to the users of the annual reports about what responsibilities each director has. A breakdown of the separation of roles between the chairman and director could also be disclosed in the annual report, which will ensure that one person is not given too much power which could prove to be very risky for Anglo American.The skills and knowledge of all the board members are summarised in the annual report, to give the shareholders and stakeholders an idea of their previous experience and the wealth of knowledge they bring to Anglo American, which shows good corporate governance by the company. Overall Anglo American shows good corporate governance with compliance to the UK combined code of corporate governance. The company has disclosed majority of information but could improve by disclosing the strategies in place, especially for the risk management prospective and its whistleblowing and training schemes.Stating the responsibilities of the chairman and chief executives would also ensure that corporate governance is being applied at a continuous high level. Stakeholders UK corporate law requires companies to be principally accountable to their shareholders. However, Anglo American believe that their shareholders' best interests are served when the company makes sure all appropriate stakeholders are kept happy, not just the sha reholders (Anglo American 2011).It is in all stakeholders’ best interests that the company not only survives, but flourishes long term, Anglo American therefore seek to be the partner of choice for its stakeholders by operating in a way that is acceptable to them all (The Times 2012a). Anglo American needs their stakeholders to support them in order to meet the organisations objectives’, for example treating staff well and respecting local communities, will make it easier to recruit new people necessary for growth.In the long term, this will create more value for shareholders. Employees are possibly the most important stakeholder for Anglo American, employing approximately 100,000 people around the world (Anglo American 2012c), however working within the mining industry has been voted one of the top ten most dangerous jobs (Korch 2012). To help protect this stakeholder group, Anglo American has adopted strict health and safety regulations which are outlined in the safe ty way, ensure that employee’s working conditions are as safe as they can possibly be. The safety way is a comprehensive framework of roles and responsibilities supported by a set of safety principles and mandatory safety standards† (Anglo American 2012b). The strategy outlines Anglo American's risk-based approach to safety based on ten key factors that support effective safety management; leadership, risk management, culture, competence, assurance, monitoring, planning, standards, communications and learning (Anglo American 2012b). Employees in management positions are also seen as stakeholders within Anglo American, as they are esponsible for making key business decisions within the company and without the relevant information they will not be able to make reliable decisions. Unions are a very important stakeholder for Anglo American as they try to make the employees' time whilst working for Anglo American as safe and as beneficial as possible. Previously, Anglo Ameri can have clashed with unions and issues have been raised, as seen in The Telegraph (2011), resulting in negative media interest and damaging the reputation of the company (White 2011). This, in turn, has a negative impact on all stakeholders within the company.In 2010, Anglo American received an â€Å"Employer incentive award for good performance† due to their â€Å"sound labour relations with trade unions, as well as the implementation and enforcement of sound occupational health and safety practices and initiatives† at the South African trade unions solidarity awards for 2010 (Anglo American 2012k). Examples of some of the trade unions that are recognised within Anglo American are The National Union of Metalworkers of South Africa, The National Union of Mineworkers, The United Association of South Africa and The Togetherness Amalgamated Workers Union of South Africa.Activist groups can be classed as stakeholders, as mining involves using the world’s natural re sources and in some cases can lead to long term damage to the environment. Such groups are passionate about protecting the environment and if they feel that Anglo American are not protecting the environment enough, they put pressure on the company. On 28 Sep 2012, War on Want released an article discussing the miner’s strikes in South Africa and the poor working conditions of the employees (War on Want 2012).This could create negative publicity and disrupt operations, therefore affecting shareholder wealth. In response to these activist groups, Anglo American has recently developed a Socio-Economic Assessment Toolbox (SEAT) as a means of further improving the impact of its activities, e. g. setting up training programmes for local communities (The Times 2012b). The contractors that work on the various sites across the globe are also seen as stakeholders within Anglo American, as they carry out the majority of the work on civil engineering projects, such as digging new mines.C ontractors are important stakeholders in Anglo American as they have a lot of responsibilities when undertaking projects and if these are not carried out properly, then problems can arise. If quality standards were compromised, due to disillusioned contractors, then this could have health and safety consequences in the future. Contractor management is also an important consideration when using contractors as external stakeholders, for example local communities may accuse Anglo American of poor social performance associated with these contractors.This is the reason that the social impact of contractors on the local area is managed professionally. Customers are a vital stakeholder within Anglo American, but due to the nature of the industry, the majority of Anglo American's customers are countries, â€Å"China is a key customer of Anglo American's products† (Anglo American 2012m). Anglo American has many different key performance indicators (KPI), divided into investing in worl d class assets in the most attractive commodities, operating safely, sustainably and responsibly, employing the best people and organising efficiently and effectively (Anglo American 2011).One of the main operating KPIs is the work related fatal injury frequency rate (FIFR). FIFR is calculated as â€Å"the number of fatal injuries to employees or contractors per 200,000 hours worked† (Anglo American 2011). This information is most relevant to the employees of Anglo American, and the unions representing them, as they are the ones who are directly affected by the injuries of co-workers. The FIFR for 2011 shows a small increase in fatalities from 15 to 17, however, in 2009 there were over 50 fatalities which shows that Anglo American is implementing the correct strategies in order to minimise these fatalities.Despite the downward trend, Anglo American targets 0 fatalities, showing that Anglo American show a keen interest in their employees' welfare. Another operating KPI is the lost time injury frequency rate (LTIFR), which is the amount of lost time from injuries (LTIs) per 200,000 hours worked (Anglo American 2011). An LTI is an injury which leaves the employee unable to perform their regular duties for a the period after the injury was incurred (Anglo American 2011).If Anglo-American have a higher FIFR or LTIFR than the industry average, it may put off possible employees from applying for a position, which could result in the company not being able to employ the most knowledgeable people, which can have a negative impact on shareholder wealth. Another operating KPI is greenhouse gas emissions which is measured in CO2 equivalent emissions (Anglo American 2011). Environmental activist groups, such as Greenpeace, are likely to be interested in this key performance indicator as greenhouse gases are very harmful to the atmosphere and have been linked with global warming.The annual report from 2011 shows a reduction in Greenhouse gas emissions than in 2010, s ignifying that Anglo American are moving in the right direction in terms of reducing their carbon footprint. Total water use is another operating KPI and includes water used for primary activities, which affect the people who live in the area surrounding the mine. Some of the regions that Anglo American work in, have sparse water supplies and therefore any water used by the company may result in less water for the local communities.Reducing this KPI is important to Anglo American, as if this is not managed it may put off potential employees within these communities from applying for a position within the firm, and may give Anglo American a bad reputation. The final key operating KPI is Enterprise Development, which is is defined as the number of companies supported and number of jobs sustained by companies supported by Anglo American enterprise development initiatives (Anglo American 2011). The stakeholder that is most closely linked to this key performance indicator would be the lo cal community in which Anglo American operates.Results from this KPI show that Anglo American is currently supporting 38,681 businesses which is much higher than their target of 3,500 businesses (Anglo American 2011). A key KPI relating to employing the best people is voluntary labour turnover, which is the number of permanent employee resignations as a percentage of total permanent employees (Anglo American 2011). In 2011, the percentage of employees who resigned was 3% which shows a decrease of 2. 3% from the previous year (Anglo American 2011).This shows the company is striving to improve employee morale and employee working conditions. This KPI is important for the employees of the company, as it indicates the number of people who may have been unhappy within their work. An important employment KPI in recent times is gender diversity, which represents the percentage of women and female managers employed by Anglo American (Anglo American 2011). In 2011, the group managed to incre ase the percentage of female employees from 14% to 15% and the total number of female managers from 14% to 21%.This KPI can be linked to both the employees and unions of the company, as both want to make sure Anglo American has equal opportunities for both genders in order to create a harmonious working environment. The first â€Å"organising efficiently and effectively† KPI is asset optimisation, which is defined as the sustainable operating profit benefit from optimised performance of the asset base of the core businesses (Anglo American 2011). An asset optimisation strategy is comprised of asset management and asset monitoring and a well organised strategy can reduce avoidable maintenance and interruption times.Managers of Anglo American will be interested in an effective asset optimisation strategy, as it will allow them to make effective decisions with regards to the best method of maintaining and using the company’s assets. The other organising KPI is the supply chain, which is the â€Å"operating pro? t and capital spend bene? ts to Anglo American resulting from centralised procurement from core businesses† (Anglo American 2011). An effective method of managing the supply chain is by local procurement, as it saves transport costs by supplying across the world.Therefore, managers of Anglo American will be interested in this KPI as it allows the company to build relationships with key contractors/ suppliers that can produce mutually beneficial outcomes. The results for the most recent financial year show an improvement to the supply chain of $472 million from the previous year. In the annual report Anglo American also have a section of investment KPI’s, these include return on capital employed and underlying earnings per share. The results from the annual report show an increase in both KPI’s from 2010 to 2011, 24. 8% to 26. 5% and $4. 13 to $5. 06 respectively.Investment KPI’s are only relevant to shareholders. I t enables shareholders to check how well Anglo American generates profit from the capital invested and provides them with a comparison to the previous year. Despite the fact that Anglo American has a fairly extensive list of key performance indicators, there are other factors that have not been accounted for that would benefit the company’s stakeholders. Antofagasta Plc. , another company within the mining sector, uses operational KPIs that state the volumes of the most important metals that has been mined during year and compared with previous years (Antofagasta 2011).Anglo American could create this form of KPI to ensure they increase the level of production for the most important materials each year, which would be useful to the majority of stakeholders as they would be able to see how much the company has expanded its' production over the year. Contractors would be able to use this information to estimate how the level of production will increase over the following year t o put aside enough resources in order to carry out any projects that Anglo American may have in the future. London Mining Plc. ave a KPI for number of employees trained, which gives the number of people who have undergone professional training within the year (London Mining 2011). Anglo American could use this as one of their KPIs to show whether the management have executed the relevant training schemes for employees. Customers would be the most likely stakeholder to benefit from this KPI, as if there is a high number of people that have been professionally trained, it implies that their staff are trained to the highest standard and will have the correct knowledge needed in order to carry out best practice.Employees would find this information useful to determine whether they might be entitled to be given professional training by the number of employees put on schemes within the year. hhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhh Financial Management Figure 1 shows Anglo American Plc. ’s share price performance over the period 1 January to 30 September 2012 and the FTSE All Share performance. After analysing, it can be seen that both share price, and average share price of the FTSE All Share, have considerably similar movements over the given period with Anglo American’s share price being more erratic. [pic]On 6 January, Anglo American shareholders approved the change of holding from 45% to 85% of De Beers at the company’s general meeting. During the meeting the chairman voiced his expectations for an increase in shareholder value due to the expertise and leadership of De Beers (Anglo American 2012a). This shareholder approval was expected to result in an increase in demand for shares, which is represented by the increase in share price between 9 January and 23 January. This movement in share price seems to be autonomous from the FTSE All Share which would aid our analysis of this particular period as the event is internal to Anglo American. On 26 January Anglo American released their production report for the 4th quarter in 2011. Initially, the share price dropped from ? 27. 37 on 26 January to ? 26. 35 on 30 January which could have been due to the decrease in diamond and platinum production. This area of production is what the company is best known for, so a decrease in production of these would initially deter investors and create doubt for shareholders. Between 30 January and 3 February the share price shot up by ? 2. 5 which signified that the shareholders had looked into the report further to see that the production of all other materials had increased, including nickel production increasing by 125% from the previous year (Anglo American 2012). From figure 1, it can be seen that this increase is reflected in the movement of the FTSE 100 which could suggest that there may be external factors also affecting Anglo American at this time. On 23 March, Anglo American sold a â‚ ¬750m 10 year euro bond which could hav e been due to funds being needed more within the company (Euroweek 2012).Investing in the euro bond may have been to help create or strengthen values of the company, especially within Europe at this particular time of the European Sovereign Debt Crisis. As shown on figure 1 between 23 March and 29 March the share price fell dramatically. This could be due to shares being sold by shareholders that primarily invested in Anglo American, as they supported the Eurozone. On 1 June, Anglo American re-entered the euro bond market which â€Å"several bankers speculated that they returned out of prudence† Euroweek 2012). The share price shot back up, which could have been caused from the amount of demand for the deal, this suggested investors were pleased to see Anglo American again. Anglo American was in talks with Peru on 29 June in relation to a potential local sustainable development to accompany a mining project in the region, and had proposed a $118 million investment (Guerra 201 2). $36. 9 million of the investment was budgeted to install a pumping system in to two of the country’s rivers (Guerra 2012).The fact they are supporting and helping Peru is a sign of good corporate social responsibility for shareholders and potential investors which resulted in a ? 0. 66 increase over 4 days. Between 10 August and 30 August, there is a noticeable decrease in the share price which would seem to be an internal factor as the FTSE All Share does not seem to follow suit during this period. An outside article was realised on the 10 August stating that Anglo American were dismissing claims that a shareholder spring was expected to occur which was broadcasted in the Telegraph (2012).The article in the Telegraph (2012) stated that shareholders had contacted Sir John Parker, Chairman of Anglo American expressing their dissatisfaction with the CEO, Cynthia Carroll. Sir John parker sided with the CEO which fuelled the shareholders to take their complaint to one of the company’s directors. This highlighted to the shareholders the lack of support they were receiving, which therefore could be the internal factor forcing the share price down.When comparing Anglo American with other companies within the mining industry, the movements in the FTSE share price are mirrored more closely by Antofagasta than Anglo American, which may suggest that their beta is closer to 1. [pic] Throughout the period analysed, the share price movements for Anglo American is quite volatile in comparison to the FTSE All Share. Between 2 April and 7 June, the movement in share prices between both Anglo American and The FTSE is extremely similar with Anglo American’s movement being more responsive.This could signify that external factors affecting the whole market have affected Anglo American the same way but at a more severe rate, this is shown by their beta of 2. 08, see Appendix C. With the FTSE having a perfect market beta of 1 the beta value of Anglo American is in perfect correlation with the movement of share prices, see Appendix B, as in the majority of places the movement is the same but double as volatile. With the beta value being considerably higher than 1, shareholders or investors are likely to be risk seeking rather than risk averse.The further away from 0 the beta value is, the lower the shareholder value, but the potential for a high return is there. As seen in the London Business School Risk Measurement Services publication the commercial betas for the 3 quarters up to September 2012 are of a similar value, see Appendix C, with the average being 1. 55. This is significantly lower than our calculated beta of 2. 08. However the â€Å"Risk Measurement Service uses estimates based on an analysis of variable factors, and is therefore no way guaranteed† (London Business School 2012), whereas the beta of 2. 8 was calculated based on weekly data taken from Thomson Analytics. Although the beta of 2. 08 is the less favourable one, it is the more accurate out of the 2 so will give a better indication of shareholder value and the risk an investor may take. Both betas are aggressive in relation to the market beta however the commercial calculation is less so. Unless a serious investor were to calculate the beta themselves, using actual data for the company, they would be likely to base an investment decision on estimated inaccurate beta values.A shareholder’s decision to invest can be influenced by another confounding variable, the company’s investment rating. There are 3 main investment ratings that stakeholders use and rely upon these are Moody’s, Standard & Poor’s (S&P) and Fitch. Anglo American are rated on Moody’s with a long term investment rating of Baa1 and the equivalent long term rating on S&P of BBB+ which is noted to be a lower medium grade of investment. S&P define their BBB+ rating as the company having â€Å"adequate capacity to meet financial commitments, but more subject to adverse economic conditions† (Standard and Poors 2012).Although Anglo American’s ratings could be higher they seem to be in a good stable financial position and therefore an attractive investment for potential shareholders. The short term ratings for Anglo American are of a slightly better position than the long term ratings, with Moody’s being P-2, which implies they â€Å"have a strong ability to repay debt obligations† (Moody’s 2009). This shows the company is fairly liquid giving reassurance to shareholders because if the company was to enter default there would be a higher chance of shareholders getting a return.The S&P credit rating for Anglo American was the same in 2011 as in 2012 with a long term rating of BBB+ and a short term rating of A-2 for both. This gives investors the security of Anglo Americans stable credit rating and in turn ability to pay off debt. Although investment ratings can be used to help determine whe ther to invest or not they should not be relied upon, as companies with the same rating do not have absolutely equal credit quality. It does not take into consideration external factors such as a change in money rates and it ignores the length of maturity. Dividends |2011 |2010 | | |($) |($) | |Interim dividend |28 |25 | |Recommended |46 |40 | |final dividend | | | |Total dividends |74 |65 | Anglo American has a clear dividend policy in which a base dividend will either be increased or maintained from year to year (Anglo American 2011).An interim dividend of 28 US cents per ordinary share was paid on 15 September 2011, and for the 2011 financial year â€Å"The Board proposes a final dividend of 46 cents per share, giving a total dividend for the year of 74 cents, a 14% increase† (Anglo American 2011) see figure 3. During the year the Group paid dividends of $818 million to company shareholders, which is a huge increase on the $302 million paid out in 2010, and $1,404 million in dividends to non-controlling interests.Based on shares eligible for dividends at 31 December 2011, this will result in an estimated distribution of $557 million of shareholders’ funds, of which $350 million will be distributed by the parent Company. The interim dividend for 2012 has increased by 14% to 32 cents per share, which continues their policy of a base dividend being slightly adjusted after discussion to ensure the maintenance of their investment grade rating (Anglo American 2012n). Dividends are proposed to be paid out in cash and not scrip issues therefore the $557 million will be shown on the balance sheet, therefore affecting cash flows.Anglo American have a fairly attractive dividend yield of 3. 32% in 2011, when compared with other mining companies within the FTSE 100, see Appendix D. From the four companies analysed the dividend yield has increased from 2010 to 2011, apart from BHP Billiton. This suggests that either companies are issuing a higher divided or the value of shares has dropped. In Anglo Americans case the share price has fallen over the given period, but the annual dividend has also increased. As a percentage of earnings the dividend for 2011 was 14. 51%, which had increased from 11. 97% in 2010.Considering the high capital investments that Anglo American commit themselves to, this is fairly good proportion of earnings attributable to shareholders. The optimum dividend policy would offer shareholders a constant, steady dividend paid at regular intervals now rather than later; this is exactly what Anglo American has to offer. However due to the Group’s aggressive investment plans for future growth, which includes three major projects; Barro Alto, Los Bronces and Kolomela, the constant regular dividend policy is likely to cease or at least come under discussion at board meetings.Shareholders have questioned the decision to invest money into these projects, CEO Cynthia Carroll has announced that the 3 projects and anot her one expected to commence in 2013 will contribute $6bn to dividend pay-outs. Although the expected change in dividend policy has undoubtedly caused controversy with shareholders, the company has proven that investment into new projects is necessary to maintain a high profit and continue to pay a regular dividend in the future (Vuuren 2011).Over the past few years Anglo American have had a strong, fairly positive balance of debt and equity, which has allowed them to have the flexibility to attain more finance when necessary. Net debt at 30 June 2012, including related hedges, was $3,124 million which was an increase of $1,750 million from the net debt at 31 December 2011. Net debt at 31 December 2011 comprised $12,873 million of debt, partially offset by $11,732 million of cash and cash equivalents (Anglo American 2011).However a dramatic net debt decrease of $6,010 million occurred from 31 December 2010 to 31 December 2011 which reflects strong operating cash flows and proceeds o n the disposal of 24. 5% of Anglo-American Sur (Anglo American 2011). Anglo American is funded mainly by equity as shown by the debt and equity ratios in Appendix D. At 30 June 2012 for every $1 of capital invested by the shareholders $0. 655 is funded through debt, which is a slight improvement on the debt equity ratio of 0. 677 at 31 December 2011.The ratios indicate that the group should easily be able to generate enough cash to satisfy its debt obligations as the group has enough room to manoeuvre its current levels of finance. It is important that a company’s debt-equity ratio is not too high as this can lead to increased interest payments and an enlarged risk of damaging their credit rating. This is perhaps the reason that the group made efforts to decrease the debt-equity ratio from 31 December 2010 from which it was 0. 755. Anglo American has a sound equilibrium between debt and equity as seen by the gearing calculations in Appendix D.Over the past two years, the figu re has increased gradually from 45. 71% at 30 June 2010 to 50. 30% at 30 June 2012, which could be due to an increase in long term liabilities. The market value of equity has also increased but at a slightly lower rate, causing the gearing ratio to increase steadily. However, the value of equity is based on the market value of the shares at 30 September 2012 for each of the three years to ensure a more accurate comparison, so when considering each year in turn, it would not show the true value of gearing.Figure 3 shows the comparison of the percentage of gearing compared with the percentage of gearing using the market value of equity. Both show a similar pattern with gearing gradually increasing over the two years, but a steeper incline for the gearing based on the share price at that year. This could be a result of the share price dramatically decreasing from 25. 26 at 30 September 2010 to 18. 17 at 30 September 2012, in turn giving a lower value of equity when using the market sha re price.Calculating the gearing using the share price at that time, rather than the market value today, shows the gearing in a way that the company would have wished to portray. Overall, it can be seen that the share price movements of Anglo American Plc. generally follow the market trend, signalling that external factors are the main influence on any change in share price. The erratic behaviour of Anglo American’s share price makes an investment in this company quite risky. For example a variation in the market share price due to a change in regulation is likely to have more of an effect on Anglo American as their beta value is 2. 8. To lower the risk they could strengthen themselves against external factors by introducing or improving their internal control systems, minimising their exposure to the external environment and in turn lowering their beta. The beta of Anglo American demonstrated by how the share price movement is generally the same as the market but exaggerated , which shows that it is an aggressive beta. When comparing with other companies in the mining sector Anglo Americans beta value is higher than most but not an anomaly, see Appendix C.All the companies within the mining sector in the FTSE 100 have a beta value higher than 1, making them all aggressive, risky investments, with Anglo American being one of the more risky options. Anglo American may seem quite risky when using the beta, however when considering this alongside the company’s gearing it could be considered as an attractive less-risky investment. Anglo American’s gearing is fairly average, but it could be improved by minimising the amount of debt that contributes to the company’s finance, also decreasing the debt equity ratio.Although the company may be seen as becoming increasingly highly geared, they are constantly investing in new projects to increase shareholder wealth in the long term, which makes the level of gearing more acceptable. Anglo America n’s investment rating is fairly high on Moody’s credit rating table, which shows there are signs for improvement but also space for fault. The rating is based on many confounding variables, with Corporate Governance having a major influence on the overall rating. Although Anglo American has demonstrated fairly good corporate governance, there is still room for improvement in many areas.Another variable that could affect the rating is the dividend policy on offer to shareholders. Anglo American offer a very attractive policy with a base amount and regular payments, which is the optimum option for shareholders, as they know what to expect and when to expect it. After taking into account all aspects of the financial performance of the company, an investment in Anglo American would be recommended for a risk seeking investor expecting regular dividend payments. Anglo American is a worthy investment, as they have a number of new projects ined up for the future and have prove n to have had huge success with previous projects, leading to satisfied shareholders. However, the value of Anglo American has declined over the period analysed, with the share price falling from 22. 29 to 18. 17, but this is forecast to increase over the near future due to all the projects recently invested in. If the global economy was to enter a double dip recession, Anglo American is not likely to be affected much by this, due to the strong commodity values and derivatives. Strategic ManagementAnglo American is currently one of the world’s top mining companies and has held this position for a number of years. Their main goal is to be the â€Å"leading global mining company, becoming the investment, partner and employer of choice† (Anglo American 2012f). A way in which Anglo American wish to become the global leading mining company is to outperform competition, by their structure of organising efficiently and effectively (Anglo American 2012l). They aim to achieve t his from being more focused and performance orientated, and believes their Asset Optimisation (AO) programme will help to do this (The Times 2012).Anglo American wanted to enhance the health and performance of their operations, so designed an Asset Optimisation programme in order to achieve a holistic approach to this. It has allowed a more open working culture giving employees the encouragement to not only work together but contribute their own ideas to improve the business. A major contributor from the AO programme, that has added value across the group, is the development of the programme, in which it has been introduced into the day-to-day business of Anglo American.This programme has added value and strength to Anglo American as to date they have saved well over their target of $1 billion from their core operations and hope the strategy continues to present positive outcomes in the future (The Times 2012). To improve efficiency, each individual area of production is focused on lowering its costs, such as lowering excessive waste or managing the usage of natural resources. Water is vital to Anglo American in order to carry out their operations and also for the communities around them, especially as some areas are the most ater-stressed regions in the world. To reduce water usage, a 10 year strategy is in place which involves making projects water resilient, investing in new technology and building water infrastructure. By 2030, Anglo American hope to have reached the strategic objective of zero net water consumption. Not only does this strategy improve the efficiency of production, it also engages with stakeholders, which in turn benefits the community (Anglo American 2012l) and will reduce the agency problem between directors and the local population.Investment is a strong part of Anglo American’s strategy, and they feel that the investments they have made into large scale assets, with long life cycles, have given them a clear advantage through the low costs attached to them. The commodities that Anglo American specialises in are those that they believe hold the best returns over a long period of time, and even during the fluctuations that occur over an economic cycle.Anglo American also offers derivatives of their commodities which is a good strategic decision for them to take, in the sense that they are guaranteed a certain level of return for those derivatives. However if the demand and in turn the price dramatically rises for those commodities Anglo American could receive lower than the market value at that time. Therefore the option to offer derivatives not only allows for the opportunity of stability for an agreed amount of income, but also the threat to lose out on an increase of market value of that commodity. Operating safely, sustainably and responsibly is embedded in everything† (Anglo American 2012l) that Anglo American does. Employee safety is a huge part of any decision made by the company and they are per sistent on reaching their goal of zero harm. The 5 years prior to Cynthia Carol becoming Anglo Americans CEO there was a total of nearly 200 fatalities, whereas the 5 years following her position as CEO the number of fatalities dropped to 77.This could be down to the change in strategy and how the importance and safety of employees was considered invaluable to Cynthia; this was demonstrated by her drastic decision in 2007 to close the Rustenburg mine instantly due to the risky nature of it (Carroll 2012). The health and wellbeing of employees was taken a step further when HIV/AIDS and general healthcare services were not only provided to employees but also their dependents, spouses and other stakeholders.This has been recognised as world class and has received a number of rewards for it, ‘The Business Excellence Award for Best Workplace Program’ being one of many (Engineering & Mining Journal 2009). Minimising the effect that their operations have on the environment is something that Anglo American also considers in detail. Over the years Anglo American have received a number of awards that prove their commitment to the environment, in 2011 they received the three out of four awards at the ‘Three Nedbank Capital Green Mining Awards’.They were recognised for their rural research project at Sishen mine where management decisions were aligned with the long term sustainability objectives of the Taolo Gaetsewe District and the surrounding region (Nedbank 2011). Anglo American hope that this project will make a positive difference to community development, and in turn bring them closer together, building respectful associations within the society they work in (Anglo American 2012l).They believe that this strategy along with strong governance and solid risk management will create trust amongst the company and its stakeholders and fundamentally enable the delivery of long term returns to shareholders (Anglo American 2012l). Employing the best people is vital to the success of the company and also to achieving their main goal of becoming the leading global mining company. How effectively Anglo American operates depends on the people they employee which in turn contributes to the reputation they have with investors, partners and potential employees (Anglo American 2012l).To attract the best employees to the company, Anglo American; create a safe work place for all, have a clear strategy for success, offer stimulating work, are organised for effectiveness and efficiency and support employees in their career development (Anglo American 2012l). Not only does this strengthen the company, as employees have the help to progress and be motivated to progress and become the best employees, but it also offers opportunities for Anglo American to be the employer of choice.Although Anglo American has quite strong strategies in place, they should be aware of the external factors which are constantly changing that could affect these str ategies or future strategies. Due to the many countries that Anglo American operates in, they need to constantly monitor each country to ensure they are aware of anything that could affect them, for example, a change in government may have a drastic effect on the way they operate in that country. This could be managed by strong internal controls and contingency plans to react to any change as quickly as possible.The minimum wage rate for each country is something that also needs to be monitored and adhered to as they differ dramatically between the countries Anglo American operate in. The minimum wage for Australia in 2011 was ? 10. 13 compared to Kenya which was ? 0. 61, which is a dramatic difference so is hard to monitor, but it is essential to ensure all the different countries regulations are adhered to (Wage indicator 2012). Governments have also started to impose super profit taxes, where mining royalties increased in Australia, Chile and South Africa.Companies are charged su per profit taxes on revenue but now new legislation has been introduced where mining companies are charged on profits as well as revenue. To offset this, there are also discovery bonuses that Anglo American can be rewarded for, for finding natural resources within a country (Deloitte 2010). Anglo American should carefully consider the environment and the areas affected by their actions. There is a constant concern from the public, as appreciation of the environment grows along with the awareness of the harmful effects that mining can have on their surroundings (Australian Bureau of Statistics 2006).Activities at ground level constantly have an impact on the surrounding area, as bore holes, access tracks and sometimes even helipads are required. If the areas affected are left un-rehabilitated, this can have a long term effect on the environment (Australian Bureau of Statistics 2006). Anglo American has a strategy in place that is recognised internationally, and assists any mine-closu re planning. It focuses on the provision for finance necessary and rehabilitation â€Å"for long term sustainability through addressing complex socio-economic, physical and bio-physical challenges† (Anglo American 2012e).Stakeholder relations are constantly upheld throughout any project that Anglo American carries out; this ensures they have constant feedback from the community, government bodies and any other stakeholders affected by their actions. Mining is always going to affect the environment and the local communities surrounding each project, but Anglo American has strong strategies in place to deal and cope with these affects to the best of their ability. It is important for Anglo American to value the importance of society.Employees, their communities, and the population of host countries are all part of the society that Anglo American should embrace. â€Å"Every year Anglo American spend a percentage of their pre-tax profit on social investment projects and spend ti me working with communities† (Anglo American 2012j). In 2011, Anglo American increased their Corporate Social Investment by 15. 8% to $128. 6 million. The Anglo American Group Foundation is their own venture that operates globally, offering grants to countries where projects are carried out (Anglo American 2012j).Education is a huge social aspect where grant funding is used; assisting the development of maths, science and literacy as well as higher education and ensuring teachers are of a good quality. Health is also considered an important aspect on which to focus grant distribution, and Anglo American have a holistic approach when it comes to HIV/AIDS as not only do they supply internal counselling and testing but have also donated $4 million to external HIV/AIDS projects (Anglo American 2012j).Anglo American has outstanding generosity and strategies in place when it comes to the society and has strong and thorough planning for any operation carried out to improve their rela tions with stakeholders. However â€Å"community projects require creative marketing strategies and comprehensive business plans, and an external project consultant could be useful here† (Engineering and Mining Journal 2012), to eliminate any bias, and to make society relations a major variable for any decisions made.A large proportion of Anglo Americans workforce and mining is carried out in Africa â€Å"with nearly 1 billion people, Africa accounts for over a sixth of the world’s population, but generates only 4% of global electricity† (Salaam 2007). Anglo American need a lot of electricity to carry out day to day activities and with the strain of electricity available throughout Africa it was essential for Anglo American to find an alternative energy source due their large consumption of 102. 9 million gigajoules in 2011 (Anglo American 2011).In order for this level of energy to be available to them Anglo American have constructed five platinum based fuel cel ls which not only provides them with the necessary power for productivity but also â€Å"provided a significant economic and environmental development opportunity for South Africa by facilitating the provision of clean, reliable and cost effective power† (Anglo American 2012g). Anglo American consider technology and carbon reduction to be linked very closely and aim to have technology capable of running cost efficient, carbon neutral mines in 20 years (Anglo American 2012g).Although Anglo American have the aim in place to achieve this, a strategic report on how they aim to achieve it and a breakdown of steps, costs and research would be useful. It would not only be useful to the company and employees carrying out the strategy, but also for stakeholders, especially the African population and government. It may even be possible for the project to be supported, and maybe even assisted by the local Government to push forward the time scale. Being a multi-national company, Anglo A merican has to comply with many laws from each country they mine in.As well as these, some countries have individual legislation, which varies in different areas of the countries, USA & Canada (Garcia 2008). These can include environmental laws, e. g. water pollution, national laws e. g. minimum wages and safety laws. An example being that Anglo American has developed a safety and sustainable development committee in order to comply with South African safety law. This states that a company in South Africa must provide a committee with ambitions to â€Å"initiate, develop, promote, maintain and review measures to ensure health and safety† (Boshoff 2012).By having a safety committee they can try to minimise the lost time fatality rate and try to achieve their overall goal of zero fatalities within any Anglo American workplace. Anglo American has a sound collection of strategies in place to deal with external factors but it is also important for that they have strategies in plac e for internal factors. Figure 5 shows a value chain of Anglo American and allows for the internal factors that Anglo American could be affected by to be recognised. |Infrastructure: A multinational conglomerate with joint projects and subsidiaries.De Beers being the largest subsidiary of | |many. Extremely high capital investment, with lots of projects. Primary listing on LSE, secondary on JSE. | |Human Resources: Diversity among workforce across all levels of employment. Committed to International Labour Organisation. | |Development of talent remains a key priority. | |Technology: Research and develop their own technology. Link development of new technology with the ability for carbon | |reduction. | |Procurement: have a local procurement policy engaging local businesses in supply chain.Expect all suppliers to operate | |safely, sustainably and responsibly. Prefer suppliers who are engaged in China sourcing. | |Inbound Logistics: |Operations: Diamond, |Outbound Logistics: |Marketi ng and Sales: De Beers|Service: To maintain | |partner with Chinese |nickel, copper, iron |40% of worlds platinum|have their own diamond |the sites. Mines need | |suppliers to operate and |ore, thermal coal and |output. Own 85% of De |auction and shops. 70% of |to be maintained by | |maintain complex products|platinum mining. Beers, the global |platinum consum

Acropolis Museum

Acropolis Museum The (new) Acropolis Museum opened its doors to the public in June 2009 and is an important reference point for culture and consequently for the cultural law. The location of the museum, as well as the way of the exhibition practice, aims at collecting, protecting, studying, highlighting, and displaying the monuments of the sacred rock of Acropolis at national and international level. It is a museum specially dedicated to the monuments of the Acropolis. Among its missions, the museum focuses on making accessible to its visitors, scientists, and anyone interested the world-class archaeological treasures. It contributes to the promotion of historical and archaeological knowledge, aesthetic cultivation, creative thinking, and -in general- modern perception of classical education. The purpose of the Museum is to coordinate all its functions according to the visitor and his expectations. The institution seeks in many ways to make the guest a real shareholder in its research programmes for interpretation and understanding of the exhibits. The organization is an element that proves the museum orientation in the modern form of communication of the cultural institutions focusing on the visitor. Cultural organizations play a crucial role in our society, economy, and cultural life of every country. In an environment that is particularly competitive and difficult, all the cultural institutions should search for ways and tools to make themselves sustainable. Undoubtedly, communication is a fundamental function of museums and above all with the public. It should transmit and provide with information, messages, and experiences in a clear and effective way to different and diverse audiences. Through communication, the public image of the organization is also determined. The Acropolis Museum gives emphasis on its communication strategy. It includes the Front of House Department whose role is to ensure the smooth reception of the audience and flow of visitors, create a hospitable environment, and provide high-quality services. The Communications and Promotion Department is responsible for supporting and promoting the museum in Greece and abroad. Development and protection of the museum’s successful external communication include -among other things- the official website, Facebook page, Youtube channel, web newsletters, publications, written communication with the wide public and the media. This case study The Parthenon Gallery fully reflects the content of the organization as its architectural structure and exhibition practice aims at the balanced relationship between the museum and monuments of Acropolis and; the unique ability of visitor to connect comfortably and in a multiple ways the architectural sculptures with the ancient temple where they come from. The relationship of the building with the surrounding area is one of the biggest advantages of the exhibition.

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Apple case study - Essay Example The company in its approach, designed strategies based on the market player’s weaknesses and customer generational needs to ensure faster growth. In particular, it integrated superior infrastructural set up than market players, which provided modern recording and sales techniques. This is to ensure that customers receive modern musical services based on broadband and iPod technological enabled systems. Ideally, most customers in the music industry including recorders consider modern technological enabled production system, which ensures good quality hence superior returns. This element enabled Apple to develop its .market rapidly due to its advancement in various aspects, which was a weakness to renowned market players. Variably, the company also integrated its management techniques to ensure effective administration of its resources to ensure quality proceeds, a concept the dominant firms poorly executed. It also provided favorable recording terms with initiation of subsidy f und system to poor artist who would could not sustain recording expenses. This aspect attracted most artist to its services coupled with it modern techniques of production. Further, its technological capacity through adoption of Apple computers, which offered a breakthrough towards effective management, and coordination of web music highly, attracted most individuals including Michael Jackson (Lynch 2009). It is imperative to note that its launching strategy also propelled its performance since it communicated basic information where it provided potential services, which were unique to its rivals. 2. SWOT analysis on Apple business model Apple designed its operations based on superior strategies with a strong focus to gaining competitive benefits and provision of quality services to customers globally (Lynch 2009). In particular, its infrastructural capacity provided its greatest strength, which has significantly contributed to its competitiveness and general performance. Modern gen erational musical production and publishing techniques is critical towards production of superior music with high demand. Variably, its sound management practices have also enhanced its operations compared to its rivals since the administration of its affairs is based on clear ideals and principles. The company has a substantial market share with strong strategic alliance network portfolios, which facilitates its sales and financial prospects for example Nokia and Samsung service providers. Quality production and delivery of service to consumers also forms its major strength in this industry where quality greatly affects performance potentials. Imperatively, the strengths contributed greatly to its sound performance compared to its rivals, which operated on inferior management practices, adopted low quality generational musical infrastructure and poor strategic coordination. Similarly, the company’s opportunities include increased demand of its services, market expansion, new ventures and diversification capacities, and favorable legislation to regulate the industry effectively. Observation of these opportunities is vital since they hold the organizations continuous competitiveness and performance capacity. The organization also faces various threats and weaknesses, which should be addressed to ensure sustainable growth without providing unwarranted leeway to new entrants (Lynch 2009). The strengths and weaknesses include possible new

How the financial crisis will affect the ship repair yards and Article

How the financial crisis will affect the ship repair yards and shipping business - Article Example A typical argument put forward by shippers is that cyclical fluctuations in the shipping industry are typical because booms are followed by recessions. However the current financial crisis in the world has affected the industry so badly. Demand factors such as prices of other goods, production costs, demand for those other goods and the availability and the cost of finance have played a very significant role in the current decline in demand for shipping and freight services, including the decline at shipping yards for repairs. (Guironnet, Peypoch & Solonandresana, 2009). On the other hand supply factors are determined by the demand for shipping and freight services along with the prevailing interest rates. Suppliers went on accumulating excess capacity by ordering new ships and containers to meet the rising demand then. However the demand trend did not continue as was anticipated. The financial crisis has hit hard not only ship repair and building yards but also all connected services as well. Shippers in North America, Europe and Asia have been hit so hard by it. For instance the contracted tonnage of containerized cargo has declined by several millions of cubic feet. The annual decline has been one of the worst that industry has witnessed in the past. According to industry watchers there would be a further fall in demand for containerized cargo shipping till a few more months have lapsed. The existing contractual obligations are less likely to be honored by the buyers because losing what has already been paid is better than taking charge of a new or a repaired ship which would not be put in to service in the foreseeable future. The current financial crisis is inevitably the result of the global economic downturn. As early as 2008 the first major signs of a global economic crisis were seen though shippers did not pay heed to advice by economists that the crisis would engulf the

Promoting Health in the Community Essay Example | Topics and Well Written Essays - 1000 words

Promoting Health in the Community - Essay Example Rates for attempted suicide related to depression register at a rate of 0.3% for men and 0.5% for women (Commonwealth of Australia, 2009). These statistics in Australia are alarming which incidentally reflect similar rates in the global scene. To address the problems of depression in the country, causes, risk factors, and prevention in the primary, secondary, and tertiary levels will be discussed to include strategies to overcome some barriers. Causes of depression Depression is caused by various factors. One is the cumulative negative life experiences such as violence, chronic poverty, divorce, and death (Burns, Andrews, & Szabo, 2002). In the same study, adversities experienced by individuals specifically in adolescents during their teen age years are identified as another cause. Teenagers with poor interpersonal skills and with negative thoughts result in peer relationship difficulties and in coping with family issues (Robinson, et.al. 2008). In addition, the individual’s c ognitive qualities exert some influence into a person’s interpretation of negative life events. ... Low self esteem is also considered a predictor of adolescent depression as reflected in their poor physical and academic performance in school. Individuals with poor social skills are likely to develop symptoms of depression of particular concern are those experiencing difficulties in maintaining social relationship (Cole, et.al. 2001). Lastly, workplace stress is also related to high incidents of depression. Potential health outcomes Depression can lead to a variety of health outcomes. First, it can bring about physical symptoms such as increased blood pressure, heart rate, palpitation, and headache which may result to stroke or heart attacks if it persists (Horn and Miller, 2008). Second, it alters the emotional aspect as evident in the person experiencing sadness, irritability, mood swings, and hostility. Next, it affects behaviour so that the person starts blaming others, becomes defensive among others. Eventually, it alters the cognitive dimension of the person predisposing him to poor memory, excessive daydreaming, trouble concentrating, and preoccupation. Prevention strategies Primary prevention Primary prevention involves reducing the incidences of the disorder to include modifying risk factors. Initially, the individual should involve herself in sport activities of his interest. Such physical activity may not only maintain physical wellness but it diverts the brain from processing depressive thought (Weaver, 2009) and it also turn off the mind from boring daily routines. Another is to practice relaxation exercises like yoga, meditation, and listening to soft music since these may unwind and recharge the body and soul. Exercise for adult has become a part of community

Slaughterhouse Five and 1984 Essay Example | Topics and Well Written Essays - 3500 words

Slaughterhouse Five and 1984 - Essay Example This war not only drastically changed the geo-political landscape, but had ramifications that ran deeply into artistic and philosophical paradigms. While published directly after the War, George Orwell’s 1984 is a strongly modernist text. In this work Orwell presents a political satire set in the future context of Oceania. This city has given way to extreme an extreme collectivist and totalitarian regime known simply as The Party. Within this context of understanding Orwell presents a significant perspective on the nature of the human condition, warning future generations about potential threats to human existence. Kurt Vonnegut’s Slaughterhouse Five is firmly rooted in modes of post-modern expression. This work follows protagonist Billy Pilgrim through a variety of wartime narrative explorations. Ultimately this novel’s depiction of the human experience is profoundly unsettling and destabilizing. Even as these texts demonstrate many contrasting concerns, at thei r core they both explore the essence of the human condition. This essay compares and contrasts Orwell’s 1984 and Vonnegut’s Slaughterhouse Five in terms of their portrayal of what it means to be human and what the respective novels offer as the major threats to the humanity of humans. Analysis The exploration of the human condition and threats to humanity form the backbone of thematic explorations in George Orwell’s 1984.... In these regards, Orwell notes, The Ministry of Truth, which concerned itself with news, entertainment, education, and the fine arts. The Ministry of Peace, which concerned itself with war. The Ministry of Love, which maintained law and order. And the Ministry of Plenty, which was responsible for economic affairs. Their names, in Newspeak: Minitrue, Minipax, Miniluv, and Miniplenty (Orwell, pg. 3). Here, Orwell plays on both the nature of language and satire in his consideration of modes of government. Consider the cyclical recurrence of The Party’s slogan, â€Å"WAR IS PEACE/ FREEDOM IS SLAVERY/ IGNORANCE IS STRENGTH† (Orwell, pg. 1). In addition to further establishing the political message of the oppressive government apparatus, Orwell’s implementation of this mode of propaganda speaks to one of the fundamental threats to humanity existing in the linguistic realm. In these regards, The Party slogan where traditional words that were associated with virtuous pra ctices, such as peace, freedom, and strength, are replaced with words that have traditionally been associated with negativity – war, slavery, and strength. This aspect of the novel, which is also exemplified in the naming of the government institutions as well as in a variety of other incarnations including Newspeak is significant in that it shows one of the fundamental aspects of the human condition is humanity’s access to reality through language. As these certain elements in language have become traditionally associated with positive values, a prominent threat to humanity becomes the potential of the government or political interests to co-opt these modes of language for their own political aims. The prominence of language to the human condition is further expressed

Choose two ads from popular magizines. Do a pre-write in which you Essay

Choose two ads from popular magizines. Do a pre-write in which you consider what elements these ads have in comman, and what ele - Essay Example Both these advertisements have catchy captions and provide stark images to the consumer that will be able to have an impact on his mind on viewing. They are persuasive in nature and have been analyzed and explained below. The advertisement from Nike is a very different and innovative one, something not most business enterprises would be able to publish in the print media. This is because it shows a young boy peeing in the corner with a caption that reads â€Å"Just Do It†. It is indeed a very persuasive and catchy to the image as well. The entire image tries to depict and make a consumer understand on his sub conscious level, how important it is to just do things without thinking twice about them. It tries to make people understand that mostly when people think about carrying out an action a few more times, they chicken out by the entire idea and are not able to follow through or implement. With the help of the young boy in the image, it tries to tell people that when they wer e young, they did not have a care in their minds and would just do whatever they felt like. However, with age comes responsibility and most of the times the heavy weight of the responsibility that people carry on their shoulders, weighs them down and they are unable to do things for themselves. This advertisement has helped to bridge that very gap by showing the young boy peeing on the road – an indication of a young carefree mind, not bothering about the implications and ‘just doing it’; in this case, ‘just buying’ products from the brand Nike. (Nike) The second advertisement from the Condomshop.ch is a image of a naked man standing with three soldiers in a war zone, completely armed and thus, ‘protected’. This ad is from a company of condoms and thus is trying to tell the consumers how important it is to be protected while having sexual intercourse with their partners. With the help of the soldiers and guns in the war zone, the adverti sement helps the consumer to form an image in their heads of the particular condom providing the best results. It is an analogy that suggests that the condom will provide as much protection to the men that make use of it, as arms and bullet proof clothing provide soldiers in a war like environment. Again, it is a very persuasive advertisement with the tag line ‘Don’t Be Stupid’. This indicates a very simple and concise manner of portraying how one should not fall prey to the implications that not using a condom might have i.e. unplanned pregnancies and thus in order to avoid all that and not be stupid, one should make use of the condom from Condomshop.ch which provides the maximum amount of protection. (Condomshop.ch) Both the advertisements thus are quite rhetoric in nature as they suggest exactly what they portray in the images. On viewing, it instantly hits the consumer’s mind about what the images might be suggesting or trying to say. Both advertisemen ts also have a very simple and catchy line that people are able to remember with ease. This is a very good strategy to use because simple captions help to attract more consumers and play in their heads all the time, making them finally make use of or purchase the product or services. Both advertisements also present images that the consumer is able to relate with very easily. They are also fairly explicit in nature, suggesting a very probable as well as obvious statement to the consumer. Thus, they make for very good marketing strategies for the both the

The Adventures of Huckleberry Finn Essay Example for Free

The Adventures of Huckleberry Finn Essay I enjoyed reading â€Å"the Adventures of Huckleberry Finn† during my English class. The novel is about a young boy, Huck, searching of freedom and adventure. Through all the journeys in river, he meets Jim, and they become good at friends. From Jim, Huck learns a lot of lessons to improve himself as a decent person. Their friendship is so precious in the novel. Some say that there was deep racism with discrimination between black people and white people in the novel. Furthermore, some claim that the novel shows their discrimination to black slaves without sensing the slave’s humanity. However, the liberty, humanity, and respectability of black people are identified by the relationship between Huck and Jim. In â€Å"Selling Huck Finn down the river: A response to Jane Smiley†, Seymour Chwast demonstrates that Jim is a typical black character as â€Å"ignorant, superstitious, and passive† and exposes the racism in the novel. At the beginning of the novel, Jim’s superstitions sometimes lead to the essences of silliness . From this perspective, Jim seems stupid and ignorant, because he believes in some foolish superstitions that do not make sense at all. For example, Jim say that Huck killing a spider that would bring bad luck , and the hair-ball used to tell fates . Jim‘s superstitions slightly portray him as an inactive and stubborn slave. Jim is also considered as an object which can be sold and bought by the white people in the novel. According to this view, racism is clearly exposed through Jim. In â€Å" Say it ain’t so,Huck:Second thoughts on Mark Twain ‘s masterpiece†, Jane Smiley states that the word â€Å"nigger† is used over and over by Huck to call Jim. To this point, I think he means the white man such as Huck, or even Twain doesn’t feel sorry or have any excuse for prejudice against black people. Huck is a white person, and he was raised in white society, so he believes that black people were lower than white people. For instance, Huck used Jims status as a black slave against Jim in arguments over why French people speak differently than Americans. The use of word â€Å"nigger† is pointed out by readers who sense that Twain use the word too much or too freely. The readers feel uncomfortable when they clearly see the unfairness of Twain putting on character Jim, because Twain doesn’t really care about Jim’s aspiration for freedom in the introduction of the novel. In the other hand, some say that Twain is not a racist novelist because he uses Huck to get back the justice for Jim in later chapters of the novel. In the novel, we can clearly see Huck was against his society to help Jim escape. Huck knows that he is doing wrong according to the view of the whole society , but he does not care about that and keeps helping Jim until the end. My own view is that Huck has a pure heart, so he can easily see the injustice in his society. Chwast also claims , â€Å"Huck’s recognition of Jim’s humanity and dignity† to supports this view with his satisfaction . Huck slowly realized that Jim is as smart as the white people with his profound knowledge about the world. At first, his superstitions seemed to be foolish, but later it became true to the fact of the world. For example, Jim predicted that the bad luck would come to them after Huck killed the snake, and he was right about that, because the dead snake’s friend revenged for its friend by biting Jim. Jim used his comprehension to benefit both, and he rejected to let Huck see the body in the floating house, because that body is the body of Huck’s father. I think Jim is a kind-hearted person by caring and protecting Huck through that moment. He acted as a role of the father caring for his son. Therefore, Huck slowly admitted that Jim is an honest, moral and intelligent person. Their friendship became closer. Some say that their friendship is the foundation to break race barriers in the novel. According to this view, Jim shows the faithfulness to Huck in chapter fifteen. For example , Jim showed his happiness at seeing Huck alive after they are separated by fog. It is apparent that Jim will sacrifice himself to ensure Huck’s safety. However, Huck in that moment still had been thinking kind of unequal treatment against Jim. . Huck in that moment was not able to sacrifice himself to Jim’s safety. In fact, Huck deceived Jim about his dream that they were apart by fog. Later, Jim found out the truth that Huck had tricked him by seeing the leaves and rubbish on the raft. From that moment, Huck felt guilty for making Jim feel so bad . As Huck himself put it, â€Å"It made me feel so mean I could almost kiss his foot to get him to take it back. † In my own view, I think kissing Jim foot is a sign of apology. After that incident, I think Huck started to be aware about Jim’s feeling. He would never call Jim by the word† nigger† again and do such bad things to hurt Jim’s feeling . Smiley also gives credit to Huck by praising Huck ‘s recognition of Jim ‘s humankind and self respect that makes their friendship so cherished to transform the racism inside Huck to love and scarification for Jim’s safety later. To this point , readers think Huck no longer had the prejudice to Jim, and Huck did something against racism that would help Jim be free. , Huck can see the true equalities between white people and black people, regardless of what he may have been taught by society. Overall, I believe that Huck has a better understanding of race than the society around him, because he finally realized that what he did is not against the justice, fairness and equality. Huck gives the readers a view into that is against white American view about racism. The white man will help the black man if he deserves it. The black man will find a justice if he acts as good as Jim. There is a question against this perspective: what would have happened if Jim did not have a good personality? Did Huck company with Jim all the way and sacrifice himself to help Jim get back the freedom? Overall, some readers have judged Jim as being too passive in the beginning of the novel, but he remains all kinds of kindness than other characters in the novel. Jim can be described as a very decent person with a good personality who provides a practical and decent example for Huck to improve himself. Thus, Twain successfully uses the relationship between Huck and Jim to expose the racism against black people in the nineteen century. Therefore, the novel is a great novel that allows young people to see racism and learn how and why it is wrong.

Admissions Essay Essay Example for Free

Admissions Essay Essay The realization that education is a critical component of my professional and personal success has been a gradual realization for me. However, I believe that with my current conviction about the importance of education, I will be able to achieve great success in Central Washington University’s MBA program. As a teenager I did not always understand the importance of education in regard to my professional and personal development. During my high school years and early college years, I cared more about sports and hanging out with my friends, than getting good grades. As a result, my grades suffered and I did not benefit as much from my classes as I could have when I was younger. Throughout these years, my Dad encouraged me and tried to motivate me to put more effort into my studies. It was through his positive encouragement and an accounting class that I took with Ms. Smith that finally changed my entire outlook on education. Not only did Ms. See more: Is the Importance of being earnest a satirical play essay Smith pull me aside and tell me that I was not working up to my potential, but she made me see that what we were studying really mattered to my life. I realized that if I was going to be successful in life I would have to apply myself and master the material I was learning in my classes. Since I came to this realization, I have been working harder in all of my classes to become more knowledgeable and educated person. Currently I am working to ensure my academic success by working hard in my classes and preparing to get a masters degree in business administration. I now put my classes as top priority in my life and also use my free time to better myself as well. As a younger kid I gave very little thought to what I did in my free time, and thus spent the majority of my free time playing video games and hanging out with friends. However, as I have come to my realization that education and knowledge are critical to my personal and professional success, I now prefer to read books and other publications about all sorts of topics to develop my understanding of the world I live in. Furthermore, I have taken a variety of math and business classes as an undergraduate student to better prepare myself for my career goals. To ensures my success in these classes, I have consistently taken advantage of professors’ office hours and tutoring sessions whenever I need extra help in a certain area. My primary goal is to get a Masters Degree in business administration in order to gain the knowledge and experience I need to start my own business. I am extremely eager to learn as much as possible about succeeding in the business world, and I believe that Central Washington University will feed my thirst for knowledge with quality classes and knowledgeable professors. I hope that this program will help me accomplish my goals by teaching me the leadership skills, strategic planning skills, as well as the general knowledge I would need to be successful businessman. I also believe that both the students and faculty at CWU will be people I can relate to and learn from. I have also heard that this specific program at CWU strives to give its students as much hands-on experience as possible to better prepare them for the real-world. This educational philosophy is aligned with my needs as a student, and it will help me to turn my ambitions into a reality. I believe that the combination of hands-on-experience, motivated peers, newfound skills will help me to achieve my lofty goals once I finish this program.