The valuation of the National Grid company Assignment

The valuation of the National Grid company - Assignment Example The reason behind the selection of the model can be explained with the help of the following advantages National Grid Company Plc is a multinational company headquartered in London. The primary business includes the supply of electricity and gas utility. The company is listed both in London Stock Exchange and FTSE 100 index. It is categorized under the diversified utilities industry. The company has 20th largest primary listing on London stock exchange. The company also has the secondary listing on NYSE (Hoover, 2011). The market price on October 1st 2012 was  £624.68(closing price of London stock exchange on Oct 1st 2012) (yahoofinance, 2015).Comparing the market price with the intrinsic value calculated using the residual income model above shows that the Stock of National Grid Plc is undervalued as compared to the intrinsic value. The rationale for the stable long term growth rate of 0.05% was that the National Grid is expected to reach the stable level of supply requirement of gas in UK because in the beginning of 2015, which shows minimum shortfall of 15mcm in London, which can be managed easily afterwards through the flows from Norway and Britain with the lingled pipeline. National Grid is in the process to further improve the supply side by the end of 2015, which may lead to the stabilized phase of National Grid Plc (Reuters, 2015). Therefore, after 2015 and onwards the growth in retained earnings are expected to be minimal i.e. around 0.05%. On May 1st 2015, National Grid Stock has reached at the level of 886.30 which is slightly overvalued from the intrinsic value calculated as on 1st October 2012. Therefore, it can be implied that the price of National Grid Stock is mean

Improving Organisational Performance using HPW Assignment

Improving Organisational Performance using HPW - Assignment Example Through information sharing the employees will be loyal to the organization. This will increase productivity, which will boost the performance of the organization. Creation of a strong communication network is another benefit of high performance work systems. This is because in the instance of the market competition, the company will depend on the employees in forecasting on the probable problems, eradication of obstacles and manufacturing of new products while focusing on product quality (Yeatts & Hyten, 1998). HPW enable the employees to interact freely with the management, which enables the management to hold constant meetings with the employees whereby through the meeting the management will be able to form a strong communication network. This will lead to efficient decision-making and execution of the necessary progress. Organizations will be able to engage the employees in formal trainings that will assist in minimizing the mistakes and ensuring quality products. The employees will have a better understanding of the production process and information technology system used, thus facilitating effective problem solving within the organization and improvement in performance (Murray, 2002). After IBM executed the formal training of the employees in information technology, the firm realised a 19 % increase in performance. This improvement was because of the formal training, which led to notable improvement of work output in terms of quality and quantity. Research has revealed that an increase in the formal training has led to reduction of wastage of organizational resources. HPW is vital to an organization since it entails the execution of the compensation plan. The payment that employees receive... This paper mainly focuses on how the organizations are working to improve their performance by using the High-performance work (HPW) practices. High-performance work practices refer to the situation in which organizations ensure that employees are highly involved in all organizational matters. The aim of the study is to understand the impact of employee management and treatment to the overall performance of an organization. In the paper two computer manufacturing companies are used as examples, these companies are Cray and IBM. Business Case High-Performance Work (HPW) is very vital to all organizations. Basing on research, the results have indicated that most companies achieve excellent performance through the implementation of the HPW practices. High-performance work entails the human resources management procedures that enhance perfect employee performance. Numerous studies have revealed that whenever the employees are excellent in their performance, there is always an automatic i mprovement in the performance of the entire organization because there will be augmented productivity. HPW is very important since it enables the employees to do excellent work, which results in improved productivity and organizational growth. In the conclusion, we see that the management of any organization has to ensure that it upholds the rights of all employees and adheres to all rules and regulations. This creates trust between employees and their managers and in the end increases performance.

Sonnets And Songs Essay Example for Free

Sonnets And Songs Essay Sonnets and songs share number of things in common. One example is that they both rhyme at the end of each line. Today’s songs don’t usually rhyme, unless if the songs are under the genres of hip-hop and rap, but most of the songs from the 60s, 70s and 90s do rhyme. One of few differences between a song and a sonnet is the way it appeals to the audiences or the readers and the kind of language that is used in these two different two pieces of writing. The song ‘I Will’ by The Beatles and ‘How do I love thee? Let me count the Ways’ by Elizabeth Barrett Browning. For number of reasons, ‘I Will’ by The Beatles appeals more affectively to the audiences as it has repetitions, exaggerations and it has the tune that will be remembered by the audiences. Firstly, the sonnet ‘How do I love thee? Let me count the ways’ by Elizabeth Barrett Browning is a sonnet about her love, who is anonymous in the sonnet. She uses many adjectives and poetic devices such as similes and metaphors. She also used some repetitions such as â€Å"I love thee freely, as men strive for right; I love thee purely, as they turn from praise. I love thee with the passion put to use† Although this sonnet is very sweet, it uses old English from 1800s that people today don’t use. Most of the people can’t understand most of the English that is used in this sonnet. The repetition shows a little bit of the sonnet’s rhyming pattern. It is quite different from the rhyming pattern that is in the song, ‘I Will’. Secondly, The Beatles use some poetic devices just like Elizabeth Barrett Browning’s sonnet except with some exaggerations and most importantly, it is a song, which mean that it will have tune in it. The tune in ‘I Will’ is the biggest difference that differentiates songs from sonnets. The tunes in songs make songs more memorable than sonnets; for example, The Beatles’ songs are going to be more memorable than Shakespearean sonnets. Whereas Browning’s sonnet is about her love to this person, The Beatles’ song is about his willingness to do anything for his love toward this person. The Beatles also exaggerated a little bit in the repetitive part of the song such as â€Å"Love you forever and forever, love you with all my heart, love you whenever were together, love you when were apart† The rhyming pattern used n this song can be seen in the example of repetition. The pattern uses ABAC DEDF pattern, which means it rhymes every second lines but random words are in the every other second lines. Furthermore, everyone knows that normal person can’t live forever, so the exaggerations in the song lyrics make the audiences know that this man loves this person so much that he’ll wait until his death. Thirdly, The Beatles were more effective than Browning when conveying the same theme because of the exaggeration, repetition and the tune. The old English from Browning’s sonnet made it difficult for the readers from 2012 to read and understand the meanings behind the sonnet whereas The Beatles used the modern English and had the tune in their sonnet, basically a song, and they used the same theme, similar poetic devices. Furthermore they were able to get the meanings of the song over to the audiences. Having similar structure and theme made it easier to see which piece of writing is more effective in conveying the theme. To sum up, The Beatles’ song, ‘I Will’ was more effective in conveying the theme than Elizabeth Barrett Browning’s ‘How do I love thee? Let me count the ways’ as it had easily memorable tune, exaggerations and some poetic devices such as similes, metaphors and repetitions. Although Browning and The Beatles used similar themes and poetic devices, The Beatles was more effective only because it was easily understandable by most of the people and had that easily memorable tune. Maybe if Browning’s sonnet had modern English and tunes, it might have been more effective in conveying the theme than The Beatles.

Technology is a Benefit to Our Society Essay -- Argumentative Persuasi

Technology is a Benefit to Our Society Over the last century, our world has evolved so much, because of the growth of the technological field. Although we spend a lot of money in order to gain new information, the reward goes far beyond the cost of money. In this case, the reward is the ability to save the lives of millions of people. In his essay, â€Å"The Technology of Medicine,† Lewis Thomas describes the three levels of technology; Nontechnology, Halfway Technology, and Effective Technology (582-583). â€Å"Nontechnology† has become the therapeutic part of technology, which helps patients through the emotional and mental effects that a disease can have on them. â€Å"Halfway Technology† is the name given to procedures, such as transplants, that prevent deaths of patients from the failure of certain organs of their bodies. However, the most important level is â€Å"Effective Technology† which consists of inventions used to help manage, eliminate or detect certain types of diseases before t hey have a chance to progress to higher levels within patients’ bodies. All these gadgets show that technology can be used as a benefit to humankind, only when used for the correct reasons to avoid such disasters as the cancer caused by bomb testing in Terry Williams’ essay, â€Å"The Clan of One-breasted Women.† Effective technology has not only touched the lives of people living in the United States, but those living all around the world as well. Through the invention of immunizations, we have been able to eliminate many diseases, such as smallpox, that have caused the death of millions of people in past generations. If not for the invention of antibiotics, the time and money that would be spent on treatments for infections would be much greater than ... ...s made in my life; and if it were not for the different inventions that have come out of technology, many of us would not be here today. How has technology made a difference in your life? Maybe you should think about that question before taking your own decision on this subject. Works Cited Gould, Stephen Jay. â€Å"The Terrifying Normalcy of AIDS.† The McGraw-Hill Reader. 8th ed. Ed. Gilbert H. Muller. New York: McGraw-Hill, 2003. 594-597 Selzer, Richard. â€Å"Sarcophagus.† McGraw-Hill Reader. 8th ed. Ed. Gilbert H. Muller. New York: McGraw-Hill, 2003. Thomas, Lewis. â€Å"The Technology of Medicine.† McGraw-Hill Reader. 8th ed. Ed. Gilbert H. Muller. New York: McGraw-Hill, 2003. Williams, Terry Tempest. â€Å"The Clan of One-Breasted Women.† McGraw-Hill Reader. 8th ed. Ed. Gilbert H. Muller. New York: McGraw-Hill, 2003. 598-607 4 Montilus 1

Alaotra Grebe

Many of our wetlands today house our animals so they may mate and accommodate our resources so we may survive. We treat this land carelessly; polluting it and not becoming aware of our damages until it is too late.This is notably true by the recent acknowledges extinction of the Alaotra grebe. The Birdlife International announced its extinction in May and how the introduction of alien fish to the wetlands killed off the species. We must learn from the extinction of the Alaotra grebe and prevent other species from this destiny of life.Alaotra GrebeThe Alaotra grebe, scientifically known as Tachybaptus rufolavatus of the Madagascan wetlands joins the list of the Five Great Extinctions in the history of the planet Earth. The bird species was last spotted in 1985 and it has now been confirmed to be extinct (Walker, 2010).Scientists claim that the Alaotra Grebe is the first extinction that has been caused by man and therefore becomes the sixth great extinction to be recorded in the histor y of the earth (Wu, 2010). The other five earlier extinctions include the Cretaceous-Tertiary extinction that swept the dinosaurs from the face of the Earth (McCarthy, 2010). This extinction was characterized by 75 percent of the species being wiped out in the last 65 million years (McCarthy, 2010).A meteorite that hit the earth is suggested to have resulted to this great catastrophe. Another example of extinctions was the Triassic-Jurassic extinction which occurred in about 205 million years ago and a number of non-dinosaur species got wiped (McCarthy, 2010). The dinosaurs were then left with minimal terrestrial competition. The last 251 million years also saw the vanishing of 96 percent of marine species and an additional 70 percent of land species (McCarthy, 2010).This extinction was known as the Permina-Triassic or The Great Dying. Another prolonged extinction, the late Devonian took over 2 decades from 360 to 375 million years ago (McCarthy, 2010). The fifth extinction, the Ord ovidician-Silurian was recorded as the second worst of all extinctions and it happened between 440 and 450 million years ago (McCarthy, 2010).Alaotra grebe was a medium sized rusty-colored bird which inhabited Lake Alaotra and areas surrounding Madagascar. The bird was thought of having problems flying for long distances perhaps because of having tiny wings. The bird lived sedentary mainly inhabiting the lakes and the surrounding ponds. The Alaotra grebes started vanishing in 1980s when only 12 birds were spotted at Lake Alaotra in December 1982. In September 1985, two birds were spotted in Lake Alaotra near Andreba.Afterwards in 1985, 1986 and 1988, some of the birds sharing same characteristics with Alaotra grebe were spotted although these birds were just thought to be hybrids of grebe and another species. Experts made surveys and visits to Lake Alaotra in 1999 and 2000 but never found any species of grebe or any of the birds of the genus Tachybaptus. This was an indication of fu ll extinction since there have not been any direct observations that have been made on the species.Chances of having the birds surviving at present are negligible since recent visits to Lake Amparihinandriamabavy which is near Lake Alaotra have shown no evidence of the grebe species surviving. As a result, officials of BirdLife International announced that the bird was extinct and declared that the species be included in the International Union for the Conservation of Nature (IUCN) Red List of the Five Great Extinction (McCarthy, 2010).This extinction is yet another whip to environmental economics as scarce resources such as biodiversity keep vanishing from our wetlands. In the future, these resources will no more be seen by our children as more extinction continues to take place. Birds form an important part of our environments in sustaining the food web and acting as tourist attractions thus earning income. The vanishing of Alaotra grebe means that these benefits are no more going to be realized in the future.Madagascar and Environmental EconomicsThe Madagascar wetlands form an essential site for birds as well as other biodiversity. The wetlands are a source of food and water to the Madagascan populations and to millions of people globally. However, these wetlands are very fragile environments and can be polluted and disturbed easily as in the case of Madagascar (Wu, 2010).Madagascar has been an example so that the world can learn that human actions on biodiversity can have grave consequences to the environment and the world economy (Wu, 2010). Elsewhere in Cuba, people introduced alien species and the Zapata rail is feared of extinction (Patt, 2010).   The introduction of exotic fish and mongooses has had serious impacts on the Zapata rail and joins the Madagascan case of Alaotra grebe extinction (McCarthy, 2010).Fishermen in Madagascar are blamed to have caused the serious environmental damage by covering much of the lake with nylon nets. The monofilamen t nylon nets have the potential of killing diving waterbirds. While the fishermen in Madagascar introduced the nets after significant extinction of Alaotra grebe had occurred, this action is blamed to have led to further extinction of the remaining grebe species.The goal of the government in Madagascar as well as in the entire world in the protection of biodiversity has been missed. According to policy makers and scientists, the vanishing of the rusty-colored bird, Tachybaptus rufolavatus was due to the failure of the government of Madagascar to prioritize an important aspect of conservation of the delicate and sensitive biodiversity.The extinction of the grebe species has significant effect to the country’s economy. It can be said that the plan for the people of Madagascar to have more fish by killing the grebe species was a missed target.While it is a common practice for governments to check for solutions that will mitigate pests and diseases affecting the fish industry, th e introduction of carnivorous fish was a missed target according to Gross and Williams (2010). The economists may agree that the action was reasonable as the fish pests were eliminated but the same argument must be exposed to political and ethical criticism.It however seems that nothing makes people persuaded other than financial gain and the people of Madagascar were easily lured with financial benefits. As a consequence, the helpless grebe species continued to be decreased to extinction level for the sake of money obtained from fish trading.Environmental economists in deed differ from other financial economists in one aspect: the valuing of biodiversity among all other benefits. While the actions to kill the birds using nylon gillnets and drowning them could result to more fish as the competition pressure would be reduced, environmental economists would view this as a loss to the entire biodiversity.The importance of wild nature for societies and industries is frequently mentioned as a political argument and an additional interest to protect our biodiversity. It was necessary for the government of Madagascar to have this approach of environmental economists to save the dear bird species Alaotra grebe.

Essay on Freedom and Determinism in Richard Taylor’s...

Freedom and Determinism in Richard Taylor’s Metaphysics Metaphysics, as discussed by Richard Taylor, can be defined as the effort to think clearly. In order to contemplate a metaphysical issue, we require data (the common beliefs that people hold about that issue). A metaphysical problem occurs when such data do not agree. To resolve the problem, a theory must be established which removes the conflict by either (a) reconciling the conflicting data, or (b) proving one set of data to be false. Metaphysical thought has inspired many theories that attempt to address the conflicting data of determinism and freedom. Freedom, as defined by Hume, is the ability to act according to the determinations of the will. Freedom allows for moral†¦show more content†¦Negative freedom can be defined as the freedom from constraint within a causally determined framework, whilst positive freedom can be the freedom to initiate creative actions. These two types of freedoms can exist either concurrently (as they do in the rights and responsibilities of s ociety) or separately (as they do in the life of a slave). As soft determinism only allows for negative freedom, it presents a sort of underprivileged type of freedom. According to this theory, the inner state of an agent determines at what choices the agent arrives. (Here it is possible to question what causes the inner state of the agent). The deterministic nature of soft determinism requires the answer to be that the inner state is determined. The result of the inner state, therefore, could not have been any different than what occurred. Had the cause of the inner state been different, the result would have been different accordingly. This can lead, however, to an indefinite regression of the causes of inner states, each being causally determined. A further threat of the theory is that the inner state of a person could be externally imposed, negating the freedom of soft determinism. Hard determinism uniquely resolves this conflicting data of freedom and determinism, by denying the very existence of freedom. Under the theory of hard determinism, everything is caused by a previous cause, therefore making everything not only determinate, but also causallyShow MoreRelatedWhat Is The Problem Of Freewill?1495 Words   |  6 Pagesfreewill is â€Å"the power of acting or not acting without constraint†. Universal causation or hard determinism (both terms I shall use interchangeably) is the belief that â€Å"events in the future are fixed, as a matter of natural law, by the past†. Indeterministic theories such as libertarianism preserve freewill by maintaining that not all events are determined by preceding causes. Both indeterminism and determinism are incompatibilist theories as they imply that universal causation erodes the prospect ofRead MoreDavid Hume s Theory Of Free Will1559 Words   |  7 PagesAre you choosing to read this essay? Or are you just constrained by the laws of nature? David Hume describes The Problem of Free Will as ‘the most contentious question of metaphysics’. Initial exploration into this school of thought gave rise to several philosophical viewpoints supported by modern thinkers. Hard determinism bases its viewpoint on the strict theory of causality, rejecting the idea of free will. On the contrary, Libertarianism opposes this, supporting the concept of free will and denyingRead MoreOne Significant Change That Has Occurred in the World Between 1900 and 2005. Explain the Impact This Change Has Made on Our Lives and Why It Is an Important Change.163893 Words   |  656 Pagesseries: Paula Hamilton and Linda Shopes, eds., Oral History and Public Memories Tiffany Ruby Patterson, Zora Neale Hurston and a History of Southern Life Lisa M. Fine, The Story of Reo Joe: Work, Kin, and Community in Autotown, U.S.A. Van Gosse and Richard Moser, eds., The World the Sixties Made: Politics and Culture in Recent America Joanne Meyerowitz, ed., History and September 11th John McMillian and Paul Buhle, eds., The New Left Revisited David M. Scobey, Empire City: The Making and Meaning

In modern times, a couple usually does not plan to get...

In modern times, a couple usually does not plan to get married less than a week after meeting. Yet in the small Italian town of Messina in William Shakespeare’s Much Ado About Nothing, the young Claudio and Hero plan to get married as soon as possible. That is, until Claudio is fed false information that Hero is not a virgin and slanders her at the altar. During the Elizabethan era when this play was written, most female roles and women in general were treated without respect as Hero was and were only prized on their physical characteristics. Much Ado About Nothing was an important play in the Elizabethan era because it dealt with social class boundaries and the roles of women. Although the Elizabethan Era influenced theater greatly,†¦show more content†¦Elizabethan women were being taught that they were practically property of men. They could be forced into arranged marriages in order to create bonds between families and were taught to be dependent on their male relatives (Alchin). Social class and one’s status in society could also coincide with how they were treated on an everyday basis (Alchin). With these many events that would change the world forever came changes in the theater that would change it forever, too. James Burbage, a prominent Elizabethan actor, built the first Elizabethan playhouse and called it the Theatre (Yancey 25). The Theatre, built in 1576, would go on to set a precedent in the design of all playhouses of the era (Senn). The building was probably round or octagonal and had no ceiling so as to let in natural light since no efficient artificial lighting had been invented at this point in time (Yancey 25). Because of the need for natural light during plays, most performances took place during the afternoon (Yancey 29). On the inside of the Theatre, the stage extended to be a raised rectangle that took up about half of the ground floor (Yancey 30). 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