Earl’s Top 5 Filipino Traits Essay

1. Adept†¦ Filipinos are very flexible at surging any difficulty and hardship 2. Craftsmanship†¦ Filipinos are very crafty 3. Obsessive†¦ Filipinos wish to improve their lives and those around them and are willing to go through great hardships and efforts, but don’t always know when to stop or how to balance it all. 4. Mimicry†¦ Filipinos tend to copy or gain that which others have. In this respect, that’s why you see groups of Filipino’s in foreign countries that are so similar (like in LA every Filipino seems to have a piano at home that no one buys, or in Japan every Filipino on a military base seems to own rose wood. But if they move to a new group, then they easily wish to change and copy the new styles. Kind of like following a fad. 5. Short memories†¦ No I don’t mean their dumb or something, I mean they forget the past or let go of the past easier. They don’t hold grudges quite so bad. Filipino’s are not more family oriented than in other cultures, but what makes them Filipino’s is they think they are. No offense. But many people have strong relations with their families. I lived in a home for six months and had to listen to my Brother in law tell me how family oriented they are as he yells at his father, and puts down his dead mother. I watched as just about every male member of the family had girlfriends, and the wives knew and ran those girls out of town when they got pregnant. I watched families that lived across the street visit each other once a year. I had a Filipino tell me that my daughter (half Filipino isn’t Filipino enough to live in his house with my 2nd wife for a short time). So in any respect, I’m not say they are less family oriented, but that we all have our issues with getting along, and Filipinos are no more family oriented than other cultures. This is according to the yahoo answers dot com. Well I agree with these because most of the Filipinos come from poor families and they can survive any trials becsuse they are already used to it. They are already down, so they on;y way to go is up. In the Philippines the most common thing that is talked about is the government. This is because this is the largest contributor of the poverty in the Philippines.

Relative Frequency And Effects Of Disasters Environmental Sciences Essay

IntroductionHarmonizing to India catastrophe study 2011, 14 States and one Union Territory of India had experienced at least one catastrophe during the twelvemonth 2011. The harm occurred in footings of figure of human lives lost was 1432 and figure of cowss perished was 6266. In entire 6,84,901 houses were damaged and 16.28 lakh hectares of cropped country were affected. 1 Rank Catastrophe Year of happening Entire figure of people affected 1 Drought 1987 300,000,000 2 Drought 2002 300,000,000 3 Drought 1972 200,000,000 4 Flood 1993 128,000,000 5 Drought 1965 100,000,000 6 Drought 1982 100,000,000 7 Drought 2000 50,000,000 8 Flood 2002 42,000,000 9 Flood 1975 34,000,000 10 Flood 1982 33,500,000 Source- EM-DAT: The OFDA/CRED International Disaster Database www.em-dat.net – Universite Catholique de Louvain – Brussels – Belgique Table1.2 Top 10 Natural Disasters in India during 1900-2012 in footings of economic harm Rank Catastrophe Year of happening Damage ( 000 US $ ) 1 Flood 1993 7,000,000 2 Flood 2006 3,390,000 3 Flood 2005 3,330,000 4 Earthquake 2001 2,623,000 5 Storm 1999 2,500,000 6 Flood 2004 2,500,000 7 Flood 2005 2,300,000 8 Storm 1990 2,200,000 9 Flood 2009 2,150,000 10 Flood 2010 1,680,000 Source- EM-DAT: The OFDA/CRED International Disaster Database www.em-dat.net – Universite Catholique de Louvain – Brussels – Belgique Droughts and inundations were the catastrophes which affected maximal figure of people in India. Table1.1 shows the top 10 natural catastrophes in India in footings of entire figure of people affected during 1900-2012. In footings of economic harm it was once more the inundations which had caused immense economic losingss to India. Table1.2 shows the top 10 natural catastrophes in India in footings of economic harm during 1900-2012.1.2 CatastropheSo what is a catastrophe? Let ‘s discuss about it. Disaster is defined as happening of calamity in any country which may be due to natural or manmade causes. It can happen as an accident or due to negligence and may ensue in loss of human life and/or cattle life and/or harm to belongings. It may besides take to debasement of environment. Community of the affected country normally do n't hold the capacity to get by with the state of affairs without external support. 2 Catastrophes can be classified into two wide types: natural catastrophes and manmade catastrophes. The High Power Committee on catastrophe direction in India, constituted in 1999, has identified 31 different catastrophes which can be categorized into five major groups. 3 I. Water and clime related catastrophes two. Geological catastrophes three. Chemical, industrial and atomic catastrophes four. Accident related catastrophes v. Biological catastrophes1.2.1 Disaster directionDisaster direction is necessary non merely for prompt response during catastrophe but for bar of it and for decrease of hazard and badness of any catastrophe. It is a uninterrupted and incorporate procedure of planning, organizing, organizing and implementing different activities and steps. It includes readiness, appraisal of magnitude of effects, prompt response such as emptying, deliverance and alleviation. It besides includes rehabilitation and reconstruction.2 A typical catastrophe direction rhythm has six elements ; the pre-disaster stage comprises of bar, extenuation and readiness while the post-disaster stage comprises of response, rehabilitation, Reconstruction and recovery. 4 Traditionally, direction of any catastrophe worldwide, focussed on immediate deliverance and alleviation operation, so as in India. After the Great Famine of 1876-1878 in India, the Famine Commission was constituted in 1880. The Famine Relief Code was besides adopted. 5 Relief sections were set up under British regulation for exigencies during catastrophes. After independency, catastrophe direction in each province was looked after by Relief Commissioners, under Cardinal Relief Commissioner. Their function were limited to distribution of alleviation stuff in the affected countries. 3 Consequent upon announcement of the decennary 1990-2000 as International Decade for Natural Disaster Reduction ( IDNDR ) by the general assembly of the United Nations 6 and the universe conference on natural catastrophes decrease at Yokohama, Japan in 1994, Government of India constituted a High Powered Committee in August, 1999. 7 The High Power Committee gave its recommendations in October 2001 including a bill of exchange of the catastrophe direction measure and suggested for the constitution of National Disaster Management Authority. 3, 5 After Odisha Super Cyclone ( 1999 ) and Gujarat Earthquake ( 2001 ) , India changed its catastrophe direction attack from reactive to proactive. 8 After the super cyclone, the Government of Odisha established the Odisha State Disaster Management Authority ( OSDMA ) . 51.2.2 Relative frequence and effects of catastrophesWorld meteoric organisation statistics shows that harm caused by natural catastrophes during 1963-2002 was worst for inundations ( Flood-32 % , Tropical cyclone-30 % , Droughts-22 % , Earthquakes-10 % and other disasters-6 % ) . 3 78.4 % of all catastrophe events worldwide occur due to hydro-meteorological causes and 47.94 % of all catastrophe deceases worldwide are due to hydro-meteorological catastrophes from 1900 to 2009. 3 Children and adult females are the most vulnerable group as 85 % of the deceases during catastrophes are of adult females and kids. 31.3 FloodFlood is defined as ‘the status that occurs when H2O overflows the natural or unreal confines of a watercourse, river, or other organic structure of H2O, or accumulates by drainage over low-lying countries ‘ . 9 Flood can happen in a little localised country due to heavy rainfall over a sustained period of clip and the attendant drainage job. Flash implosion therapy occurs when it rains excessively rapidly, by and large for less than six hours. But river inundations are normally of longer continuance as it may last a hebdomad or more and in some instances for months together doing more harm to human lives and farm animal. Coastal inundations are caused by tsunami, heavy costal rainfall and tidal action.10 River inundations are expected in some geographical countries. Peoples by and large welcome inundations as they provide rich dirt for cultivation and H2O for assorted intents. But flood at an unexpected graduated table and with inordinate frequence causes harm to lives, farm animal and the environment. Matter of concern is that, there is addition in the frequence and strength of inundations in many parts of the universe including India due to current clime change.111.3.1 Flood in IndiaThe Indian sub-continent is extremely vulnerable to assorted types of natural catastrophes like drouths, inundations, cyclones, temblors, and landslides etc. India is one of the 10 worst catastrophe prone states of the universe. 3 Among all these natural catastrophes that occur in the state, river inundations are the most frequent and frequently the most annihilating. In India, 40 million hectares of land which is about one-eighth of the entire country of the state is prone to inundations. Flood occurs in 23 out of entire 35 provinces and brotherhood districts in the state. 3 To command inundation in the state, The National Flood Control Program was launched in India in 1954. 31.3.2 Flood in OdishaOdisha province which is situated in the east seashore of India is one of the most vulnerable Indian provinces to climate change.12 It is located between 170 48 ‘ N and 220 35 ‘ N latitudes, and 810 47 ‘ E and 870 32 ‘ E longitudes. 1 The chief rivers of Odisha are Mahanadi, Brahmani, Baitarani, Budhabalanga, Subarnarekha, Rushikulya etc. These rivers are perennial with sulky flow throughout the dry season. With the oncoming of monsoon they swell threateningly and deluge big countries. 1 Odisha experiences terrible inundations in about every two old ages. 131.3.3 Flood in Kendrapara territory of OdishaKendrapara territory is one of the coastal territories of Odisha. After separation from Cuttack territory as a separate territory in 1993, Kendrapara has faced terri ble inundations in 1994, 1995, 1997, 1999, 2001, 2003, 2006, 2007, 2008, 2009 13and late in 2011.14 Harmonizing to India catastrophe study 2011, Kendrapara territory was severely hit by inundation in 2011. All the nine development blocks in the territory were affected. 473 small towns of 116 Gram Panchayats and two Urban Local Bodies ( ULBs ) were affected. Entire figure of population affected were 507145 ( Third highest after 625897 in Puri territory and 526923 in Cuttack territory ) with 13 human casualties ( Highest in the province ) . 27000 houses were damaged ( Second highest after Puri territory ) including kuchha and pucca houses. 11.3.4 Health effects of inundationFloods are frequently considered the most frequent and dearly-won of all natural catastrophes in footings of human agony and economic loss.15 Health impacts of inundation vary between populations and these depend on the physical exposure of population, single every bit good as community readiness and the type and continuance of flood event. The immediate wellness effects of inundation can be submerging, hurt, acute asthma, tegument roseolas, stomach flu, and respiratory infections. The mid-term effects of inundation are infected lesions, toxic condition, catching diseases, and famishment. The long-run wellness effects of inundation can be disablement, hapless mental wellness and malnutrition. 16 Approximately two-thirds of the flood deceases can be attributed to submerging. This implies that other one-third human deaths are due to causes other than submerging, such as physical injury, bosom onslaught, fire, C monoxide toxic condition and electrocution.17 In inundation state of affairss, there are ever increased opportunity of transmittal of diseases like cholera, cryptosporidiosis, infantile paralysis, rotavirus, enteric fever and paratyphoid, particularly in countries if the community does non hold entree to safe imbibing H2O and sanitation.18 Common mental upsets like anxiousness, depression and posttraumatic emphasis upset are common after a nerve-racking event of an exceptionally baleful nature like terrible inundation. 18 These may attest with symptoms like upseting memories, turning away of fortunes associated with the stressor, sleep perturbations, crossness and deficiency of concentration.18 Loss of cherished ownerships in inundation can hold much more impact than fiscal losingss. 19 One survey found a four times increase in unwellnesss among people whose places were flooded compared with those whose places were non flooded.20 Referrals to infirmaries were more than double from the flooded families than not flooded families for the old ages following the inundations in Europe. 21 One community degree survey in rural Odisha, India shows that exposure to inundations is associated with long-run malnutrition. Children who are exposed to inundations during their first twelvemonth of life show higher degrees of chronic malnutrition compared to the kids who are non exposed to deluge during their infancy.221.4 Public wellness system and inundationPublic wellness system should stay prepared to supply exigency services to the community as the demand may increase all of a sudden when inundation strikes the community. 23 but public wellness systems face tonss of jobs in pull offing the inundation state of affairs.1.4.1 ProblemsFlood can hold impact on the public wellness attention systems in two ways. The direct impact is due to structural harm to wellness installations and the secondary impact is through other direction jobs. 24 Scarcity of resources reduces the ability of the wellness system to react efficaciously. 25 Public wellness systems besides face jobs in presenting services due to population supplanting and power failure. Population supplanting leads to herding and sanitation job around the impermanent colonies. This may take to outbreak of diseases. 26 Water intervention workss may halt working due to power failure job during inundations. This increases the hazard for waterborne diseases. Power failure job besides affects proper operation of wellness installations such as care of cold concatenation. 26 Disease surveillance in affected countries is of import to understand the impact of inundation on diseases. But acquiring accurate and timely information during inundation is often disputing. 26 Healthcare instantly after inundation is frequently delivered by many bureaus and organisations. Coordination among them at that clip becomes a challenge. 261.4.2 ReadinessIn general inundation readiness steps include building of dikes, land usage planning, watershed direction, inundation prediction and warning system, inundation eventuality planning and readiness of community for self-defense activity and capacity edifice programmes. 11 Public and the public governments ever focus on structural intercessions that modify and control the velocity and the force of flood.10 Primary wellness Centres under public wellness system are the chief wellness attention establishments in rural countries to cover with wellness impacts of catastrophes. 27, 28 Poor people are more likely to be affected than the wealthier, when public wellness establishments are affected. 29 To cut down the wellness impacts on a population significantly, wellness system should hold information on impending inundation. 30 Flood readiness planning for public wellness system should be an on-going procedure. It should embrace all stakeholders so that the corporate wisdom can be utilised to cut down the impact of inundation, to take necessary action during the inundation event and to take up proper rehabilitation and recovery activities. 31 but it is a common fact that public wellness planning processes in most of the states including India are based on premises and guesss instead than grounds. 271.4.3 CommunityNational Disaster Management Authority ( NDMA ) has advised the Ministry of Panchayati Raj and Rural Development to turn to the concerns of catastrophe direction in the preparation of representatives of the Panchayati Raj Institutions and local organic structures. Women Self Help Groups ( SHGs ) , Anganwadi workers and adult females voluntaries are playing a lead funct ion in catastrophe direction readiness. Accredited Social Health Activist ( ASHA ) workers are besides easing first assistance and hunt and deliverance preparation for big figure of people. 8 So community should be cognizant about their exposure and strength. They are themselves the first respondents to any type of catastrophes. Education and preparation of the general community in first assistance and resuscitation decidedly helps in salvaging many lives before formal medical assistance reaches the catastrophe site. Evaluations of developing plans on first assistance and resuscitation have shown good consequences. Contingency plans and extenuation programs for inundation become successful merely when the planning procedure involves all the community members and it take into history the bing societal constructions and dynamics.32 It has been estimated that, 80-90 per centum of wellness attention demands in the first 24 hours after inundation strikes the community can be managed by trained voluntaries from the community itself. This besides reduces the work load on the public wellness system. 331.4.4 Public wellness workersEnrolling and retaining human resources in public wellness system is an all clip challenge. There is acute deficit of human resources in rural countries and it is felt clearly during catastrophes like inundation. 34 But Training of available human resource in flood direction can cut down the service spread during inundation well. 35 Training and capacity edifice of wellness forces is one of the most of import elements of catastrophe readiness program of public wellness system. Trained work force shows assurance in managing exigency state of affairss. Evaluation of preparation and capacity edifice activities are normally done by comparing pre-tests and post-tests36 but the existent rating of competence and effectivity occurs as the jeopardy strikes the community. Training besides helps to detect inadequacies in accomplishments, determination pickings pattern and information systems. 37 Training should hold theory Sessionss based on success narratives elsewhere in the universe and mock Sessionss supplying accomplishments to cover with the practical job. The most of import thing is that there should be refresher preparations on a regular basis with regular updating of cognition. 38 There should be more capacity edifice activities for community degree wellness workers as they are the first contact points for the community in exigency state of affairss like inundation. These activities should be based on recognized scientific attacks but adapted to the local culture.391.5 Public wellness system in OdishaCommissioner-cum-secretary of section of wellness is the administrative caput of the section and studies to the wellness curate. Nine managers and the drug accountant of Odisha study straight to the commissioner-cum-secretary. These managers are Mission Director, National Rural Health Mission ( NRHM ) ; Project Director, Odisha State AIDS Control Society ( OSACS ) ; Dir ector, Medical Education and Training ; Director, Acharya Harihar Regional Cancer Centre ( AHRCC ) ; Director, Family Welfare ; Director, Health Services ; Director, Public Health ; Director, State Institute of Health and Family Welfare ( SIHFW ) ; Director, Indian System of Medicine ( ISM ) and Homeopathy. Commissioner-cum-secretary is besides helped by secretaries at assorted degrees such as particular secretary, extra secretary, joint secretary, deputy secretary and under secretary. ( Annexure-1 ) District wellness disposal is headed by head territory medical officer. Public wellness system below territory degree has been described in the subdivision 3.1 ( Health system in the survey territory ) of consequence chapter. Table1.3 gives an thought about the figure of public wellness attention establishments in Odisha which provide services to entire population of 41,947,358 ( Rural 34,951,234 and Urban 6,996,124 ) in Odisha.40 Medical College and Hospitals 3 District Hospitals ( 30 territories + Capital Hospital, Bhubaneswar & A ; Rourkela General Hospital ) 32 Sub-Divisional Hospitals 26 Community Health Centres 377 Other Hospitals 79 Primary Health Centres 1228 Sub-Centres 6688 Ayurvedic Hospitals 2 Ayurvedic College & A ; Hospitals 3 Ayurvedic Dispensaries 619 Homoeopathic College & A ; Hospitals 4 Homoeopathic Dispensaries 561 Unani Dispensaries 9 Source- Annual Activity Report 2011-12, Health and Family Welfare Department, Government of Odisha.1.5.1 Public wellness system response to inundation in OdishaDirectorate of Public Health in Odisha has been created by a declaration of Department of Health & A ; Family Welfare in 2009. Disaster direction is one of the chief activities of the board of directors. 14 The State unit of Integrated Disease Surveillance Project ( IDSP ) becomes the province control room during inundation. During 2011 inundation, 135 medical alleviation squads were deployed and 482 Medical Relief Centers were opened in the inundation affected districts.141,73,374 packages of ORS and 52,74,613 Halogen tablets were distributed. 11.6 Rationale for the surveySuccessful direction of wellness impacts of inundation depends on the coordination of assorted sections and bureaus with the wellness section, cooperation from the community and leading of the wellness section. This can merely be achieved by bettering the ap prehension of wellness hazards in local scenes and of the societal and cultural qualifiers of those risks.17 Research on inundation hazards and response has mostly focused on economic sciences, support and agribusiness. Very few researches have given attending to wellness dimension of inundation. 41 A study of primary wellness centres in Jagatsinghpur territory of Odisha, surrounding territory of Kendrapara was done instantly after 2008 inundation. The aims were to measure the readiness and functional capacity of primary wellness centres in the territory for inundation response. Pretested questionnaire was used to interview medical officers merely. Health workers and other back uping staffs were non interviewed. 42 No mentions of survey conducted in Kendrapara territory which tries to understand the wellness hazards of community and wellness staffs, inter and intra wellness section work kineticss, outlook and cooperation of community and community based organisations in flood state of affairss were found. This survey is an effort to understand these local wellness system kineticss which can be utilized to alter the policy for better readiness of wellness system to pull off and extenuate the inauspicious wellness impacts of inundation in Kendrapara territory.1.7 Aims of the surveyaˆ? To analyze the major jobs encountered by public wellness workers in presenting the services after inundation aˆ? To analyze the readiness of public wellness workers for pull offing inundation state of affairs aˆ? To happen out the capacity spreads of public wellness workers in covering with inundation state of affairs

The Fugitive Slave Law Essay Example | Topics and Well Written Essays - 1250 words

The Fugitive Slave Law - Essay Example The rights of the citizen especially freedom should be upheld by such legislation in Massachusetts. However, there is higher prevalence of slavery ever since the beginning of the 19th century. The law is supreme and south Massachusetts is a free state. As a citizen, human being and a free member of the American society, just like Jim, therefore, has a right to fare trial and treatment as a human being and not as a property that someone can claim and possess without considering his own personal feelings. This is the quandary (Baker, 167). The Legal Defense Fund Based on the later relationship and existence of Jim among the free members of the state, He has enjoyed better living conditions where, his fundamental rights were upheld. He has thus realized himself, appreciated the role of the society more positively and has come to contribute positively and effectively to the development of the society in the state and America without fear of oppression (Baker, 146). The person claimed to be a property to someone has been enjoying this freedom and rights for over three years now and is happy to remain in this state. As a citizen, the law should allow him to make rightful choices of whether to get back to his original master, where he was the slave or live with his new employers as a free person of rights. The Hearing I have this case due to the fact that much is at stake with the previous ruling already delivered. We realize the supreme nature of the law and we also appreciate that human beings have their rights which the law should strive to protect in whatever circumstances. During the hearing of this case, we note that there was no jury as one of the legislations requirement for this country require. Further, we should note that North Massachusetts is a free state with specific legislations and principles on slavery though most of the time we have never had such complications to call on our state laws in regard to this matter but there is always precedence and thi s is one such circumstance (Baker, 210). It is therefore, highly significant that the above elements are considered in determining this case so as to ensure the slave, as we can not prove otherwise here in Massachusetts, can testify and make rightful propositions. The Procedures The procedures and legislations established by congress are legal and supreme as they form part of our constitution. We therefore realize that the Fugitive Slaves Act established by 1850 belongs to superlative laws, which this State must abide. As a free state, Massachusetts has established its own procedures aimed at ensuring that the rights of its citizenry towards fair legal processes are consistent. Though the Fugitive Slaves act govern the matters of slavery, the Massachusetts procedures should have been used to offer Jim a fair trial. We ask ourselves whether the rights of Jim to a jury trial were upheld and whether he was subjected to fair and due legal process. It is based on this that we can give a final verdict or ruling on this matter. Massachusetts is a free state and by purely abiding to the procedures outlined in the Fugitive Slaves Act, we undermine our own procedures and thus should reconsider this. The Fugitive Slave Laws Though the fugitive slaves Act only requires a hearing, which has been held so far, we should appreciate that this was not done according to the proced

Ancient Roman Charioteers in the Roman Myths Essay

Ancient Roman Charioteers in the Roman Myths - Essay Example The sources reveal that most Roman charioteers died at a young age, thus implying the danger of such a career. For example, one driver for the Blue faction in around AD 68 died at the age of 25 (ILS 5284). Crescent, the driver for the Blue faction in around Ad 115-124 died at 22 years old (ILS 5285). Moreover, Fuscus, a driver for the Greens, died in around AD 35 at the age of 24 (ILD 5278). In the same way, Marcus Aurelius Polynices died at 29 and his brother Marcus Aurelius Mollicius Tatianus died at 20 (ILS 5286). All of these documented accounts of charioteers were never able to live past the age of 29. In fact, although some of the ancient Roman charioteers may have survived the race past the age of 30, charting as a career still posed as a great danger to many charioteers considering that there was always the possibility that one’s life would end early. The sources imply that the impulse to win and to keep racing was great despite the danger because of the promise of reward and recognition, thus further endangering one’s life in the seemingly endless pursuit of such a career. The promise and temptation of the rewards accorded to the best charioteers must have been a continuous source of inspiration for many young charioteers who sought fame, fortune and recognition. For example, the driver for the Blue faction in around AD 68 received honors 354 times (ILS 5284). Glabrio, in around AD 115-124, received prizes of 1,558,346 sesterces (ILS 5285). In addition, Marcus Aurelius Polynices won the 40,000-sesterces prize 3 times, the 30,000-sesterces prize 26 times, and the pure prize 11 times (ILS 5286). Lacerta of the Reds also made as much money as to finance 100 lawyers to leave his sons (ILS 5287). Publius Aelius Gutta Calpurnianus, also won numerous awards, with the greatest at 50,000 sesterces once, 40,000 sesterces 9 times, an d 30,000 sesterces 17 times (ILS 5288). Such prices have been so great and so there was always the  drive in the charioteers to achieve these rewards. Moreover, erected monuments and speeches to glorify the victors even in their deaths actually served as an inspiration to many charioteers to keep on with their careers.  

Organizational Change Theory Research Paper Example | Topics and Well Written Essays - 1250 words

Organizational Change Theory - Research Paper Example In this paper, we will explore some key issues related to the theory of organizational change. Importance of Organizational Change Theory By understanding organizational change theory, managers can explore various external and internal forces of change. Two main external factors of change include competitive environment and technological development. Competitive environment is such a factor that forces an organization to ensure development of high quality products to increase customer base, as well as to improve customer satisfaction. Technological development, on the other hand, refers to the use of latest technology to remain competitive in the market. If we talk about the importance of organizational change theory with respect to internal forces of change, we can say that this theory helps managers understand changes in the working atmosphere, changes in employment rules and regulations, and required changes in employee retention strategies. As Rasing (2010) states, â€Å"the key to organizational change and development lies in the understanding of people's requirements and work towards it† (p. 1). ... 49). From employers’ perspective, the readiness to adapt to ongoing internal and external changes is the biggest thing that organizational change theory demands from employers. Moreover, managers also need to show willingness for organizational changes, as well as for developing strategies for implementing those changes. A higher level of organizational readiness for changes results in more effective implementation of required changes. The reason is that when the level of readiness is high, employers take quick actions to initiate the process of change, as well as display a highly cooperative behavior with all members of the organization. Organizational members need to be committed to towards implementing essential changes to organizational policies and functions in order to maximize the levels of productivity and efficiency. Employers also need to assess the key determinants of change implementation, which include situational factors, task demands, and availability of require d resources. These three determinants play a vital role in determining whether an organization is ready to implement required changes or not. Based on assessment, employers develop suitable strategies to put required changes into action. Demands of Organizational Change: From Employees’ Perspective If we talk about the requirements of organizational change from employees’ perspective, we can say that willingness to work according to modified policies and eagerness to get trained accordingly are the biggest requirements. Employees always play a critical role in bringing positive organizational changes. As Avey, Wernsing, and Luthans (2008) states, â€Å"one of the

How successful the Vietnamese people living in the United States are Research Paper

How successful the Vietnamese people living in the United States are today since they came to the United States after 1975 - Research Paper Example ounterparts who immigrated to the United States from East Asia mainly for economic interests, the Vietnamese are less accomplished both financially and academically. Even though the community of Vietnamese immigrants in the United States faces many challenges, their economic status has been reported to have improved dramatically, especially between the late 1980s and the early 2000. In 1989 for instance, the Vietnamese Americans who lived below the poverty line formed 34 percent of the entire Vietnamese American population while in 1999 the number had reduced by more than half to 16 percent (Bankston 213). On the social front, Vietnamese Americans have made notable steps ever since they came to the United States. According to Collette (57), a study carried out in 2008 showed that the Vietnamese community in the United States is one among the most assimilated immigrant communities in the country. Despite the lower rate of economic and cultural assimilation as compared to other immigrant groups, the rate of civic assimilation in the community was the highest among the relatively large groups of immigrants (Collette 59). The study attributed the slower rates of economic and cultural assimilation to the language difference with the American communities. The high rates of civic assimilation were attributed to the fact that, since most of them are political refugees, they expect to stay permanently in the United States and, therefore, have become more involved in politics than most of the other immigrant groups. Most of the Vietnamese Americans are anti-communism. This made most of them support the Republican Party, although the support has reportedly been eroded in the recent past. They preferred the Republican Party since they view the Democratic Party as not as anti-communist as the Republican Party is. However, the second generation of the immigrant group as well as the newer and poorer refugees has been reported to show support for the Democratic Party. Even then,

Principles of Statistics In-Module Assessment Coursework

Principles of Statistics In-Module Assessment - Coursework Example The period over which the exchange rate is observed is January, 1973 to January 2013. Annual observations are used; for each year, a single value of the exchange rate is observed. Thus, there are 43 annual observations on the exchange rate in the sample of data. Before turning to the specific characteristics of the series, it may be useful to note the significance of forecasting foreign exchange rates. For any economy that is open to international trade, the foreign exchange rates play important roles in deciding policies governing most of the important macro-economic variables in the economy. Particularly since the settlement of most international transactions occur within a short future horizon, the exchange rates likely to be applicable at the time of settlement assumes importance. The magnitude of the associated cash flows in terms of the domestic currency are evaluated by using foreign currency conversions. And these conversions are obtained by denominating the domestic currency by the foreign currency of the trade partner through the foreign exchange rate for the pair of countries (Taylor 1995). ... Since the natural logarithm is a monotonic transformation, all dynamic properties of the series are preserved, only the scale of the magnitude is smaller. Figure 1: The exchange rate between the Japanese Yen and the US Dollar The first and foremost point to be noted is that the price of the Dollar has exhibited a downward trend over the time horizon under consideration. Starting at slightly above 5.8 in 1971, the value of the series has ended at around 4.6 in 2013. However, the series has not continuously declined. It has exhibited periods of upward movements as well as downward movements. The length and magnitude of the downward movements however, dominate the trend. As a result, the overall trend of the series is that of a decline. A closer look reveals that the series exhibits a particular persistence: a downward movement continues for a few years as does an upward movement. That is, once a dip starts, it persists for a few years. Similarly, once an upward swing starts, it seems t o persist for a few years. This pattern of persistence will become important in the forecasting phase. It should also be noted that the average length of the persistence of upswings is visibly smaller than the average length of the downswings. This pattern is particularly clear for the years after 1985. The other pattern worthy of note is that the overall magnitude of increases in the exchange rate over periods of appreciation is smaller than the observed magnitudes of decline in the exchange rate during periods of decreases. Barring the years between 1977 and 1983, this holds true for every period of decline and period of increase. Therefore, the observed pattern of decline in the Japanese price of the US dollar is explained by two

Brighter Cleaning Company Marketing Plan Essay Example | Topics and Well Written Essays - 2250 words

Brighter Cleaning Company Marketing Plan - Essay Example This paper illustrates that the number of employees and experience puts the Brighter Cleaning Company in a position to handle any size of customers. Brighter Cleaning Company main focus is supplying cleaning products to the businesses around. The company offers products to some parts of Ohio: Defiance, Bryan, Plymouth, Peru, Lima, Napoleon, Celina, and Coldwater. Other areas that the company’s products have gained popularity are Auburn, Anderson, Angola Bluffton and Fort Wayne just to name a few. The Brighter Cleaning Company offers janitorial equipment and cleaning solutions products for furniture and floors. The cleaning products and janitorial equipment help in keeping the workplace clean and free from germs. The products can be categorized into three major areas: equipment, paper products, and cleaning chemicals. The specific products include brooms, brushes, dustpans, chemicals, dust mops, dusters and cleaning pads. Additional other products are a floor and furniture care , janitorial carts, paper products, rags, and wipes. The Brighter Cleaning Company also offers receptacles, personal care, trash bags, liners, recycling equipment and replacement parts. Branding is among the most significant factors that enhance the success of any business, irrespective of its size, B2B or retail. Affective branding process offers the business a cutting edge in increasing its competitiveness in the market. Simply put, a business brand is like a promise to business clients that the business is ready and willing to adhere to the proposed brand requirements. A brand tells customers what to expect from the products and services that are being developed. According to Sheth, it is important to realize that in making the business brand, it is often derived from the routine activities that the business is involved in. it explains what the business is all about, who it wants to become in the near future as well as the kind of image that it wants its customers to perceive. Th ereafter, it provides the direction that the business managers are going to take in reaching the destination that is outlined in the brand name. The advantage of having a successful brand is that it often becomes a container for creating and storing the goodwill and reputation of the business.

Theories Of Perception Essay Example for Free

Theories Of Perception Essay How the mind works during perception have been one of the mysteries of the mind. Cognitive psychology is involved in the investigation and the understanding of behaviors that is caused by cognitive functioning. If developmental psychology had to deal with the nature-nurture debate, the theories of perception are generally conceived either as a bottom-up approach or the top-down approach. The bottom-up approach says that perception visual stimuli is dependent on the characteristics of the stimuli, if the stimuli has the right color, shape, intensity and background, then the mind would readily perceive the stimuli (Noà «, 2004). On the other hand, the top-down approach says that perception is influenced by previous experience and learning, wherein perception is dependent on what the mind have previously known and conceived about the stimuli (Noà «, 2004). Thus, the mind has a sort of schema that guides the mind in identifying the stimuli presented to him/her. It is also interesting to note that perception as with everything else is shaped by the social and cultural context in which it occurs. In a conservative culture, same sex marriages may be perceived as immoral and abnormal, but to cultures who have endorsed homosexuality do not perceive it as such. In another example, a Catholic whenever he sees a cross or a church would surely make the sign on the cross while a Protestant or a Baptist would not. In order to illustrate the difference between the two approaches to perception the following examples are provided. Bottom-up The ability to appreciate an abstract painting is an example of the bottom-up approach. The individual viewing the painting do not have any idea what the painting is and what it depicts. The mind then processes the painting in terms of the different color gradients, shapes, spatial characteristics and then tries to present a coherent whole that the mind can understand (Marr, 1982). Thus, an abstract painting can be interpreted in different ways since the viewer may manipulate the different strokes, colors and lines to form an object or a figure that is pleasing to the eye. However, our perception of what the abstract painting represents can be affected by the cultural orientation of the perceiver. A person coming from a very structured environment may find the abstract painting worthless as he cannot understand it for it lacked structure, while a person who is very open-minded may find the painting a challenge since it makes him think. Top-down The famous expression â€Å"looking for a needle in a haystack† is an example of the top-down approach. The expression is meant to convey difficulty in finding a specific object or person, but when we look at it cognitively, it is not that difficult. The person who must find the needle already have a concept of what the needle looks like, it is thin, shiny and has a sharp edge (Gregory, 1990). This information could have been formed during previous encounters with a needle, thus the task becomes easier because the person has to focus only on one thing, and that is the needle. He/she may eliminate the hay straws since they do not look like a needle. However, it would have been a different scenario if the person tasked with finding the needle has not had any experience with a needle, an example is Sleeping Beauty. Due to the banishment of the spindle in her kingdom, she did not know what it looked like and hence she got pricked by one and was placed on a spell. Similarly, culture shock may also be caused by the lack of prior experience or knowledge of what the new culture will be like, hence the individual is overwhelmed with the new stimulus. Bottom-up and Top-down The perceptual process involved in the perception of an object embedded in the background includes the bottom-up and top-down approach. The person directed to find   the objects hidden in the picture will first look at the picture and then analyze its characteristics and what it represents then he/she will look for the shapes, lines or a shift in color or depth (bottom-up) to determine where the hidden objects might be found. When the person has found the hidden object and identifies what it is, he/she then proceeds to look for the other objects guided by the knowledge of what the object would be (top-down). If the hidden object is as universal as a face, then identifying it would not be difficult, but if it were an obscure figure like a zodiac sign, then only those who have had prior knowledge of zodiacs would be able to find the hidden object. References    Gregory, R. L. (1990). How do we interpret images? In H. Barlow C. Blakemore M. Weston-Smith (Eds.), Images and Understanding, Thoughts About Images, Ideas About Understanding (pp. 310-330). Cambridge: Cambridge University Press. Marr, D. (1982).  Ã‚  Vision.  Ã‚   New York:  W. H. Freeman and Sons. Noà «, A. (2004).   Action in Perception, Cambridge, MA: MIT Press.

Downfall of Macbeth Essay Example for Free

Downfall of Macbeth Essay The tragedy of â€Å"Macbeth, by William Shakespeare, follows the fall of Macbeth from a man in a position of power with a contented life, to a man with nothing but â€Å"mouth honor† and a corrupted soul. In this essay, I wish to show to what extent Macbeth’s tragedy was his own fault. The downfall of Macbeth begins early on in the play when he and Banquo (a fellow Scottish noble) meet the witches. The witches waylay Macbeth and Banquo whilst they were on their way to meet Duncan, King of Scotland. They decide to listen to the witches, out of sheer curiosity. The three witches greet Macbeth as â€Å"Thane of Glamis†, the title he already holds, and begin to tell the two nobles of things to come, and prophesies that Macbeth will become Thane of Cawdor, and the King of Scotland. Macbeth asks how they know of his current title, and laughs at the following two prophesies. The witches ignore his questions, and tell Banquo of how he will not be king, but his sons will be kings. Instead of just ignoring the witches, the statement of his current title intrigues Macbeth and he follows the witches to try and get them to tell him more. Stay you imperfect speakers, tell me more† says Macbeth, showing that he is indeed interested in what the witches have to say. The witches disappear, and Macbeth dismisses them, and he and Banquo ride off. The witches appearance, and Macbeth becoming intrigued may amount to his downfall, but I believe that they were merely the ‘helping hand’ for Macbeth who’s own weak will and other events where the catalyst for his eventual death. At this point, Macbeth is still a highly respected man, and is about to get more respect from Duncan, for defending Scotland from the invading forces of Norway. The messengers who tell Duncan of Macbeth’s deeds portray him as a man of great courage, who showed no fear in the battles. Duncan sends a messenger to tell Macbeth of his reward for his great deeds. Two messengers to greet Macbeth with the news of Duncan’s reward: he is to be made Thane of Cawdor. â€Å"Why do you dress me in borrowed robes? † asks the startled Macbeth, as the messengers begin to explain how the last Thane of Cawdor was helping the Norwegians invade. Aside, he says, â€Å"Two truths are told, as happy prologues to the swelling act†¦Ã¢â‚¬  obviously relating to the first two prophecies the witches made. He now asks Banquo, aside, whether or not he believes the witches now that Macbeth’s second prophecy has come true. Banquo says he is wary and that he really doesn’t want anything to do with these witches, but he will merely sit back and let the prophecies run their course. Macbeth seemingly decides to follow Banquo’s idea, and makes an agreement with himself â€Å"If chance will have me king, why, chances may crown me, without my stir†. Macbeth decides to write to his wife and tell her of his new title, a fatal mistake in my opinion, since his wife reacts to the letter in a totally unexpected way. All of a sudden, Lady Macbeth decides to make a push to get her husband to make the effort to fulfil the third prophecy. Meanwhile, Duncan names his son as the next king, and Macbeth becomes bitter, and looks towards the prophecies for his next move; â€Å"That is a step on which I must fall down, or else o’erleap†¦Ã¢â‚¬  Clearly Macbeth has decided that he will now ‘stir’, and make some move to become king. Back with Lady Macbeth at Macbeth’s castle, she is reading Macbeth’s letter. She reads about his new title, and the mentions of the witches’ prophecies. Lady Macbeth first starts off by thinking about how she can get her husband to become a king, and concludes that she’ll have to make some effort to get her husband to do whatever it takes to get him to be king. A messenger, who brings news that Duncan wishes to stay at Macbeth’s castle, interrupts her thoughts. Lady Macbeth decides, almost instantly, that she will persuade her husband to kill Duncan so he can become king. Whilst in the middle of her thoughts, Macbeth returns home. They talk, and Lady Macbeth brings up the subject of getting rid of Duncan so he can be king. Macbeth appears shocked although was secretly thinking the same thing, and tries to dismiss the idea. Underneath, however, he wants to go along with the idea so he can become king. His underlying motives become clear when he decides that he will do the evil thing, and is going to kill Duncan. â€Å"We will speak further,† he says, making his intentions apparent to the audience. Although unsure, he will not totally dismiss the idea, and is even considering it. Lady Macbeth now knows that she has him within her grasp, nd she will now make sure that she wins him completely over. In my opinion, not making his mind up creates a chance for Lady Macbeth. She sees this uncertainty and later exploits his unwillingness to make decisions. A short while later, Duncan arrives, accompanied by all of his Thanes. They all feast, and drink to the success of the battle against Norway. As the night wears on, Macbeth has to time to contemplate the consequences of killing Duncan. Macbeth makes the moral decision not to proceed saying; â€Å"We will proceed no further in this business. He (Duncan) hath honoured me of late, and I have bought golden opinions from all sorts of people, which would be worn now in the newest gloss, not cast aside so soon†. Macbeth attempts to give excuse for not proceeding, but fails to give any proper reasons for it. The only advantage he sees for not killing Duncan is that he respects him, and by killing him it would be disrespecting him. I believe that this is not a valid reason for committing murder, and shows Macbeth’s underlying ambition to become king. By putting forward pithy excuses Macbeth makes his ambition very clear to the reader. Lady Macbeth is not swayed by his pathetic excuses, and she knows that secretly, Macbeth wants the same things she does. In an attempt to convince Macbeth to continue with the plan, she first insults his manhood â€Å"When you durst do it, you were a man; And to be more than what you were, you would be so much more the man†¦Ã¢â‚¬ and accuses him of being cowardly for not sticking to the plan. She then attacks his ego further by saying â€Å"From this time such I account thy love† and accuses him of not loving her. For Macbeth, this is the final straw, and he gives in. Lady Macbeth plans the murder. When Macbeth goes to murder Duncan, he still doubts himself, and even starts seeing things as he approaches Duncan’s room. Upon committing the murder, Macbeth finds himself in a state. Lady Macbeth attempts to clean him up, and make him appear well, but now Macbeth has lost all control. This murder of Duncan leads to the destruction of Macbeth. Aware of any possible opposition, Macbeth begins spying and murdering people. There are also psychological problems that Macbeth has which lead to his destruction. This is shown by his brief madness after Banquo’s murder when he sees Banquo’s ghost. The tragedy ends when Macbeth is slain by Macduff who, with many others, find out about what horrific things Macbeth has done. Macbeth begins to get paranoid about Banquo, and feels that he should be killed so as to stop him from being exposed. â€Å"So is he mine; and in such bloody distance that every moment of his being thrusts against my nearest life;† Macbeth says, aware that the only way to truly silence Banquo is to have him killed. At the banquet scene, Macbeth sees Banquo’s ghost, showing that he has indeed gone mad. Even in insanity, he feels guilty. â€Å"Avaunt, and quit my sight! Let the earth hide thee! † he says, his conscience acting on him and showing his remorse. Macbeth has finally gone mad, and it was all due to his ambition and want to be king. He goes on to become entirely evil, as he visits the witches again and again, seeking solace for his crimes, and answers to his impending doom. He begins to stop feeling remorse and guilt for his actions, and eventually becomes a cruel, twisted man. His wife falls ill, and he shows no compassion towards her, instead saying everything would be better once she is dead. This is near the end of the play and where Macbeth slowly returns from his evil side, feeling remorse for his actions finally. When the English army and Macduff advance on his castle he becomes the courageous Macbeth once again, and when he finally comes to fight Macduff, he is back to the brave and bold Macbeth at the start of the play. With his wife dead, he feels more able to do what he wants. The main people to blame for Macbeth’s tragedy were his wife, and Macbeth himself, and this is shown all the way through the play (Lady Macbeth willing him to murder, Macbeth being easily convinced etc) there some unfortunate circumstances that contributed to Macbeth’s downfall, such as Duncan making his son king instead of Macbeth, and Duncan putting his trust in Macbeth by coming to his castle, but none were as major a cause as Macbeth’s personality fault and his manipulative wife. To conclude, the blame for Macbeth’s tragedy should be placed on his head and his wife’s, due to his personality defect (ambition and a weak will) and her persuasiveness (pushing him to fulfil his ambition). The combination of these two defects and Duncan staying at Macbeth’s castle caused the entire play and tragedy to unfold.

Nerve Conduction Physiology

Nerve Conduction Physiology BASIC PHYSIOLOGY OF NERVE CONDUCTION The neurons form the building blocks of the nervous system. The central nervous system (CNS) contains about 100 billion neurons. It also contains 10–50 times this number of glial cells. Neurons Neurons in the mammalian central nervous system come in many different shapes and sizes. Most of them have the same parts as a typical spinal motor neuron shown in Figure 2. Figure-2: Typical spinal motor neuron The cell body (soma) contains the nucleus and is the metabolic center of the neuron. Neurons have processes known as dendrites which extend outward from the cell body and arborize extensively. Particularly in the cerebral and cerebellar cortex, the small knobby projections over dendrites are called dendritic spines. The dendrites are the receptive part of the neuron. A typical neuron has long fibrous axon that originates from thickened area of the cell body, the axon of hillock. The first portion of the axon is called the initial segment. The axon divides into presynaptic terminals, each ending in a number of synaptic knobs which are also called terminal buttons or boutons. They contain granules or vesicles in which the synaptic transmitters secreted by the nerves are stored. The axonal process is responsible for transmission of propagated impulses to the nerve endings. Based on the number of processes that emanate from their cell body, neurons can be classified as unipolar, bipolar, and multipolar. Figure-3: Unipolar and bipolar neurons Figure-4: Multipolar neurons Glial cells: There are two major types of glial cells : microglia and macroglia. Microglia are scavenger cells they resemble tissue macrophages and remove debris resulting from injury, infection, and disease (eg, multiple sclerosis, AIDS-related dementia, Parkinson disease, and Alzheimer disease). Microglia arise from macrophages outside the nervous system and are physiologically and embryologically unrelated to other neural cell types. Glial cells continue to undergo cell division even in adults and their ability to proliferate is particularly noticeable after brain injury (eg, stroke). There are three types of macroglia: 1 Oligodendrocytes, 2 Schwann Cells, and 3 Astrocytes. Oligodendrocytes and Schwann cells form myelin around axons in the CNS and PNS , respectively. Astrocytes are of two subtypes. Fibrous astrocytes, which contain intermediate filaments, found primarily in white matter. Protoplasmic astrocytes are found in gray matter having granular cytoplasm. Both types of astrocytes send processes to blood vessels, where they induce capillaries forming the tight junctions making up the blood–brain barrier. They send processes enveloping synapses and surface of nerve cells. Protoplasmic astrocytes have a membrane potential varying with the external K+ concentration but they do not generate propagated potentials. They produce substances that are tropic to neurons, and they help maintain the appropriate concentration of ions and neurotransmitters by taking up K+ and the neurotransmitters glutamate and ÃŽ ³-aminobutyrate (GABA). The axons of many neurons are myelinated, that is, they acquire myelin sheath, a complex of protein lipid wrapped around axon. In the peripheral nervous system, when a Schwann cell wraps its membrane around an axon up to 100 times myelin is formed. The myelin is then compacted when the extracellular portions of a membrane protein called protein zero (P0) lock to the extracellular portions of P0 in the apposing membrane. The axon is covered by myelin sheath except at the ending and at the nodes of Ranvier, periodic 1-m constrictions that are about 1 mm apart (Barrett et al., 2012). In the myelinated neurons, the junction between the 2 Schwann cells is known as the node of Ranvier, where the axon remains uninsulated. The intermodal distance is the distance between the 2 nodes of Ranvier and depends upon the spacing of Schwann cells at the time of myelination. As there is no proliferation of Schwann cells later on, intermodal distance increases during the growth of nerve. Thus the fibe rs myelinated early have longer intermodal distance, larger diameter and wider spacing at the node of Ranvier. The nerve conduction velocity depends on the fiber diameter and intermodal distance. The larger the axon the thicker the myelin sheath and longer the internodal distance, the faster the conduction velocity. (Mishra Kalita, 2006). Not all neurons are myelinated; some are unmyelinated, that is, simply surrounded by Schwann cells without the wrapping of the Schwann cell membrane that produces myelin around the axon. Figure-5: Glial cells: A Oligodendrocyte, B Schwann Cell, C Astrocyte Most of the neurons are myelinated in the CNS of mammals,, but the cells that form the myelin are oligodendrocytes rather than Schwann cells. Unlike the Schwann cell, which forms the myelin between two nodes of Ranvier on a single neuron, oligodendrocytes emit multiple processes that form myelin on many neighboring axons. Generation and conduction of impulse in nerve cells Nerve cells have a low threshold for excitation responding to electrical, chemical, or mechanical stimulus. Two types of physicochemical disturbances are produced and these are the only electrical responses of neurons and other excitable tissues,. local, non propagated potentials; and propagated potentials, the action potentials (or nerve impulses) and they are the main language of the nervous system. They are produced by alterations in ion channels causing changes in the conduction of ions across the cell membrane. These electrical events are rapid, measured in milliseconds (ms); and the potential changes are small, being measured in millivolts (mV). The impulse is normally transmitted (conducted) along the axon to its termination. Conduction of nerve impulses is rapid but much slower than that of electricity. Conduction is an active process it is self-propagating , and the impulse moves at a constant amplitude and velocity. Resting membrane potential The resting membrane potential represents an equilibrium situation at which the driving force for the membrane-permeant ions down their concentration gradients across the membrane is equal and opposite to the driving force for these ions down their electrical gradients. In neurons, the concentration of K+ is much higher inside than outside the cell, while the reverse is the case for Na+. This concentration difference is established by the Na+K+ ATPase. In neurons, the resting membrane potential is usually about –70 mV, which is close to the equilibrium potential for K+. Action potential In response to a depolarizing stimulus, some of the voltage-gated Na+ channels become active, and when the threshold potential is reached, the voltage-gated Na+ channels overwhelm the K+ and other channels and an action potential results (a positive feedback loop). The membrane potential moves toward the equilibrium potential for Na+ (+60 mV) but does not reach it during the action potential, primarily because the increase in Na+ conductance is short-lived. The sodium ion channels rapidly get closed called the inactivated state .In addition, the direction of the electrical gradient for Na+ is reversed during the overshoot because the membrane potential is reversed, and this limits Na+ influx. A third factor producing repolarization is the opening of voltage-gated K+ channels. This opening is slower and more prolonged than the opening of the Na+ channels, and consequently, much of the increase in K+ conductance comes after the increase in Na+ conductance. The net movement of positive charge out of the cell due to K+ efflux at this time helps complete the process of repolarization. The slow return of the K+ channels to the closed state also explains the after-hyperpolarization, followed by a return to the resting membrane potential. Thus, voltage-gated K+ channels bring the action potential to an end and cause closure of their gates through a negative feedback process. Distribution of Ion Channels in Myelinated Neurons The spatial distribution of ion channels along the axon plays a key role in the initiation and regulation of the action potential. Voltage-gated Na+ channels are highly concentrated in the nodes of Ranvier and the initial segment in myelinated neurons. The initial segment and, in sensory neurons, the first node of Ranvier are the sites where impulses are normally generated, and the other nodes of Ranvier are the sites to which the impulses jump during saltatory conduction which is responsible for faster impulse conduction in myelinated neurons. The number of Na+ channels per square micrometer of membrane in myelinated mammalian neurons has been estimated to be 50–75 in the cell body, 350–500 in the initial segment, less than 25 on the surface of the myelin, 2000–12,000 at the nodes of Ranvier, and 20–75 at the axon terminals. Along the axons of unmyelinated neurons, the number is about 110. Electrogenesis of the Action Potential The nerve cell membrane is polarized at rest, with positive charges lined up along the outside of the membrane and negative charges along the inside. During the action potential, this polarity is abolished and for a brief period is actually reversed. Positive charges from the membrane ahead of and behind the action potential flow into the area of negativity represented by the action potential (current sink). By drawing off positive charges, this flow decreases the polarity of the membrane ahead of the action potential. Such electrotonic depolarization initiates a local response, and when the firing level is reached, a propagated response occurs that in turn electrotonically depolarizes the membrane in front of it. (Barrett et al., 2012) Figure-6: Propagation of Action Potential Action potential generated in axons is propagated to either direction from its site of origin. Intracellular current flows from the active zone where the inner cell membrane is positively charged compared to adjacent inactive membrane which is negatively charged. An opposing current flows through the extracellular fluid from the inactive to active region. This local current depolarizes the adjacent inactive regions, thus resulting in impulse propagation bidirectionally along the axon. The physiologic impulses, however, arise at one end of the axon i.e., the cell body or sensory terminal and are conducted only orthodromically. In pathological conditions, however, this order of conduction is not maintained. In the myelinated fibers, the conduction is much faster than the unmyelinated. In normal myelinated axons the impulse propagated by saltatory conduction. Saltatory conduction has been compared with a kangaroo travelling at speed. The action potential advance at near uniform velocity , but it is powered by discrete kicks of inward membrane current at the nodes of Ranvier. For rapid conduction, the intermodal distance should be great enough to maximize the jump of the action potential and reduce the loss of current at the node of Ranvier. In myelinated fibers the time required for the local current to excite the next node depends on the longitudinal resistance of the axoplasm, capacitance, and conductance of the intermodal membrane. With high value of these parameters, more current is dissipated before impulse reaches the next node. This results in longer time for the impulse to depolarize the adjacent node, which is responsible for the slower conduction. Myelin thickness is inversely related to internodal capacitance and conductance. Conduction velocity, therefore, increases with the increase in myelin to a certain point. In segmental demyelination or during remyelination, myelin sheath is thin, intermodal distance shorter, internodal conductance and capacitance is increased. These result in greater loss of local current before reaching the next node of Ranvier. The failure to activate the node of Ranvier results in conduction block. In case of a partial conduction, the impulse propagation is slowed due to longer time required by the dissipating current to generate an action potential. In segmental demyelination of smaller fibers the conduction may become continuous instead of saltatory. Impulse conduction in unmyelinated fibers occurs in a continuous manner which accounts for slower conduction velocity compared to saltatory conduction in myelinated fibers. The conduction velocity also slows down in focal compression, which may be due to demyelination and decrease in fiber diameter. (Mishra Kalita ,2006).The loss of myelin is associated with delayed or blocked conduction in the demyelinated axons. Normal conduction of action potentials relies on the insulating properties of myelin. Thus, defects in myelin can have major adverse neurological consequences. Loss of myelin leads to leakage of K+ through voltage-gated channels, hyperpolarization, and failure to conduct action potentials. Nerve conduction tests can detect slowed conduction in motor and sensory pathways. (Barrett et al., 2012) NERVE CONDUCTION STUDIES (NCS) The main indication of nerve conduction studies are for evaluation of paraesthesias (insensibility, creeping, fiery) or instability of the arms and legs. The type of study depends on symptoms presented. (Gutmann et al., 2003) NCS studies evaluate the dormancy, magnitude, as well as the pattern of the feedback following stimulation of the peripheral nerve through the skin and tissues by an electrical stimuli. The principle of nerve conduction studies (Mallik, Weir., 2005) In NCS we apply depolarizing electrical pulse square wave to the skin over a peripheral nerve generating a proliferate nerve action potential (NAP) recorded at a distant point over the same nerve. A compound  muscle action potential (CMAP) originating from the awaking of muscle grains in a destination muscle supplied by the nerve. These propagate nerve action potential and compound muscle action potential may be cited with surface or needle electrodes. Minor electrodes are restricted to allow around the full muscle stimulated, giving data for the time taken for the rapid axons to conduct an impulse to the muscle and the size of the feedback. Needle electrodes for NCS give authentic conduction time information, but because they evident from a small area of muscle or nerve it gives poor information and making numerical analysis difficult. Also it is difficult to obtain patient cooperation in an invasive technique. Nerves to be tested can either be stimulated through the skin with surface catalyst or it can be tested via a needle fixed close to the nerve or nerve roots. Choice of the stimulant depends on the desire to bracket above and below the  point of a prospective focal contusion and the anatomical opportunity to the applicable structure. (Mallik Weir et al., 2005). Motor nerve conduction performing motor nerve conduction study the surface electrodes overlying a muscle supplied by nerve to be tested is electrically stimulated and compound muscle action potential (CMAP) is recorded . The recording electrodes are fixed using sticky conducive pads placed in to the  overlying target muscle. The effective electrode is placed over the muscle belly and the reference electrode is situated over an electrically inactive site near by muscle tendon. A grounding electrode is placed between the electrodes maintaining a zero voltage reference point. The CMAP  is a calculated voltage response from an individual muscle fiber action potentials. The shortened inactivity of the CMAP is the time from stimulus  to the onset of action and it is a biphasic response with an initial upward deflection followed by a smaller downward deflection. The CMAP  amplitude is consistent from baseline to negative peak (the neurophysiological convention is that negative volta ge is demonstrated by an upward  deflection) and caculated in millivolts (mV) Figure-7: Compound Muscle Action Potential (CMAP) For recording CMAP, the stimulating current or voltage  is constantly increased until a point where there is no increment in CMAP amplitude. It is only at  supramaximal point that reproducible values for CMAP amplitude and the latency between the stimulus and the onset of the CMAP can be recorded  accurately. (Mishra Kalita, 2006) . The nerve is then excited at a more proximal site. In the normal state stimulating a nerve at  proximal site results in two CMAPs of similar shape and amplitude because the like motor axons innervate the muscle fibres making up the response  However, the latency will be greater for proximal stimulation compared with distal stimulation because of the longer distance between the stimulating  and documenting electrodes. The difference in inactivity represents the time taken for the fastest nerve fibre to conduct between the two stimulation  points as well as other factors involving neuromuscular transmission and muscle activation which is comm on to both stimulation sites. (MallikWeir  Gooch Pullman, 2005; Barboi Barkhaus,2004) . If we want to measures the distance between two sites then the fastest  can be calculated as follows: MNCV (m/s) = Distance between stimulation site 1 and site 2 (mm) [latency site 2 latency site 1  measurement the distance between 2 points of stimulation should be atleast10 cm. which reduces the error due to faulty distance  Stimulation at shorter segments of the nerve, however, is necessary in the evaluation of focal compression neuropathies e.g. CTS. Such short segment  stimulation does not allow the effect of focal slowing to be diluted by the unaffected nerve segment (Mishra Kalita, 2006) Sensory  StudiesThe sensory nerve action potential (SNAP) is achived by electrically stimulating sensory nerve fibres by a supra maximal stimulus and caculating the  nerve action potential at a point . Recording the SNAP orthodromically indicate to distal nerve stimulation and recording more  proximally (the direction in which physiological sensory conduction occurs). Recording the SNAP antidromically refers to proximal nerve stimulation  and recording more distally (opposite in order to the physiological sensory conduction occurs). Different laboratories have different antidromic or  orthodromic methods for testing different nerves. The acceleration correlates directly with the sensory latency, because the residual latency which  comprises neuromuscular transmission time and muscle propagation time is not applicable in sensory nerve conduction and therefore, either the results  may be expressed as latency over a standard distance, or acceleration. Only 20% largest diameter and fastest conducting sensory nerve fibres are  using in the conventional studies functionally supplying fine touch, vibration, and position sense. Predominantly small fibre neuropathies affecting  the 80% of fibres existing with prominent symptoms of pain and conventional studies .The various abnormal findings  are conduction slowing, conduction blockage, lack of responses,or low amplitude responses. NCV studies can acknowledge the degree of demyelination  and axonal loss in the segments of nerve examined. Demyelination of a nerve results in prolongation of conduction time (decreased conduction  velocity), where as axonal loss generally leads to the loss of nerve fiber and muscle potential amplitude. ( Mallik ,Weir., 2005)

The Mind of a Computer :: Computers Technology Essays

The Mind of a Computer A new issue has come about since the building of computers. But the idea behind it is not such a new issue, for as long ago as Plato and Aristotle, the idea of a mind was pondered about. With the up-and-coming technology, the idea of artificial intelligence has exploded. It is one that many fiction writers have prospered on. But how far away are they from the truth? Take the story of The Bicentennial Man by Isaac Asimov, written in 1976, when most of the population didn’t know what a computer was capable of. The idea of the unknown scared us, a robot that appeared to be just like us, but it was also intriguing, as demonstrated by the story’s success. What was it that attracted the population to this story? The reasonable answer lies within the question this paper will attempt to answer. That is, Can a computer have a mind? The answer to this question is an obvious one, but we will examine it anyway, as it needs to be addressed because of all of the popular science-fict ion writings. A computer can have a mind, and as you read further into this, you will see that computers are made of the same things we are, they transfer information using the same techniques we do, they are complex enough, and they are aware. This is enough to give them the possibility to posses a mind. Starting with the first part of the definition of mind, one might conceive of a computer that can posses a mind. The Biologist might make an argument against me, stating that only living things can have mind, that it is only those things that are biological, consisting of organic compounds, that may have the potential to posses mind. But I say to the Biologist, what is it that makes up these organic compounds? What is it about these molecules that make them construct themselves into a biological being? The answer is a simple one to any Chemist, for he knows that organic molecules are made up of elements and these elements are indeed atoms. The Physicist will most definitely agree t hat these atoms are made up of protons, neutrons, and electrons. These protons, neutrons, and electrons are what make up every atom in the universe; the same three particles come together and form all the materials known to man. The Mind of a Computer :: Computers Technology Essays The Mind of a Computer A new issue has come about since the building of computers. But the idea behind it is not such a new issue, for as long ago as Plato and Aristotle, the idea of a mind was pondered about. With the up-and-coming technology, the idea of artificial intelligence has exploded. It is one that many fiction writers have prospered on. But how far away are they from the truth? Take the story of The Bicentennial Man by Isaac Asimov, written in 1976, when most of the population didn’t know what a computer was capable of. The idea of the unknown scared us, a robot that appeared to be just like us, but it was also intriguing, as demonstrated by the story’s success. What was it that attracted the population to this story? The reasonable answer lies within the question this paper will attempt to answer. That is, Can a computer have a mind? The answer to this question is an obvious one, but we will examine it anyway, as it needs to be addressed because of all of the popular science-fict ion writings. A computer can have a mind, and as you read further into this, you will see that computers are made of the same things we are, they transfer information using the same techniques we do, they are complex enough, and they are aware. This is enough to give them the possibility to posses a mind. Starting with the first part of the definition of mind, one might conceive of a computer that can posses a mind. The Biologist might make an argument against me, stating that only living things can have mind, that it is only those things that are biological, consisting of organic compounds, that may have the potential to posses mind. But I say to the Biologist, what is it that makes up these organic compounds? What is it about these molecules that make them construct themselves into a biological being? The answer is a simple one to any Chemist, for he knows that organic molecules are made up of elements and these elements are indeed atoms. The Physicist will most definitely agree t hat these atoms are made up of protons, neutrons, and electrons. These protons, neutrons, and electrons are what make up every atom in the universe; the same three particles come together and form all the materials known to man.

Folk Tales :: essays research papers

When you where a kid did your parents ever tell you stories about your culture or about your family’s values? Chances are they where telling you a folk tale. Folk tales are stories passed down usually by word of mouth but often they are written down. Folk tales teach a valuable life lesson while entertaining the reader or in some cases the listener. This essay will give examples of three folk tales and go into depth on how they teach lessons and still remain entertaining for children and even adults.   Ã‚  Ã‚  Ã‚  Ã‚   The first of the three folk tales I will be discussing is titled The Sheep of San Cristobal, in which a young woman named Filipa looses her only son. She makes ends meet by growing beans and selling them to the local townspeople, who are very sympathetic to Filipa. When a rich sheep herder named Don Jose starts harassing Filipa because she refuses to marry him She wishes for him to fall off a cliff and break his neck, when her wish comes true she feels very guilty and makes penance by giving away all of Don Jose’s sheep to those poor enough to deserve them. At the end of her penance she finds her son. This story tells allot about Spanish Culture and shows how religious the people are. The second folk tale is titled From things fall apart. It is a story of a greedy manipulative turtle who tricks a flock of birds out of their feast in the sky, but he soon learns his lesson when the birds take away their feathers and he is forced to jump back to earth thus shattering his smooth shell. This story shows that this culture believes that if you do bad things you will eventually get what is coming to you.The third folk tale is called In the Land of the Small Dragon. This story has many similarities with Cinderella. It is the story of a beautiful young girl named Tam who’s beauty reflects her inner kindness and innocence. Her half-sister Cam is ugly, which reflects her bitter, jealous, and lazy personality. Tams stepmother treats her like a slave and lets Cam do whatever she wants. Later in the story Tam is given new clothes and a pair of crystal shoes by some animals. A bird takes on of the shoes and delivers in to the emperors son, who is inspired to find the owner of the shoe and marry her.

The Bells: An Analysis

Some the literary elements that Poe uses in the bells are onomatopoeia, alliteration, assonance, repetition, and rhythm. Onomatopoeia which is the formation of word by imitation of a sound made or associated with its referent, it is used in line 3 with the phrase tinkle tinkle, tinkle. Alliteration is the commencement of two or more stressed syllables of a word group either with the same consonant sound or sound group, used in verse 2 lines 10 and 12 â€Å"frantic fire† and â€Å"desperate desire. Assonance is a resemblance of sounds, also called vowel rhyme, used in line 1 â€Å" sledges, bells. † Repetition is the act of repeating something, used in line 3 â€Å" tinkle, tinkle, tinkle. † Rhythm is the movement or procedure with uniform or patterned recurrence of a beat or accent, the rhythm of the bells is what makes it lyrical The Bells represents life and how it happens. In the first stanza silver bells are introduced. The silver bells make a tinkle sound w hich is the sound of a small bell. Therefore the silver bells represent youth and excitement. In the second stanza the golden bells represent wedding bells. These bells symbolize maturity and growing up but also represent one of the happiest times of someone’s life as they are getting married which is a joyful time and at this point of the poem the bells are no longer tinkling as they now are chiming. In Stanza 3 brazen bells are played, these bells are terrifying as they shriek and go higher, and higher. The bells represent what is coming forth as they clang clash and roar. The Brazen bells are not chiming they are loud and obnoxious. Stanza 4 has iron bells playing that make people shiver with affright. The iron bells symbolize death. They are played in the silence of the night and it is silent at funerals because people are mourning and hear the moaning and groaning of the bells. This is how the 4 stanzas symbolize a person’s life. They are young and excited then as they get older and get married they are happy then loud bells tell that tragedy is near and finally death overtakes all people.

Mba, Human Resources, Finance, Accounting

Head Office: 184 – 186 – 188 Nguyen Dinh Chieu St, Ward 06, Dist. 03, HCMC, Vietnam Tel: (84. 8) 930 0358 Fax: (84. 8) 930 5206 www. vinamilk. com. vn Annual Report 2007 Content Vision and Mission Statements Chairwoman’s Message Corporate Profile Corporate Structure Management Reporting Structure Board of Management Board of Directors 03 04 10 16 18 22 24 Inspection Committee Corporate Governance Risk Management Business Review Investor Relations Community Activities Financial Contents 26 30 34 36 54 56 58 this is WHO WE ARE VISIONVinamilk will be the fastest and sustainable growing healthy dairy and food company by building a long-term competitive advantaged product portfolio across the scale. MISSION Vinamilk continues to expand its existing geographical coverage and product portfolios to maintain its sustainably dominant position in the local market and maximizing its shareholder value. chaIrWOMaN’S MeSSage V inamilk is the leading dairy & beverage comp any and also one of the 5 largest companies in term of market capital listed in Vietnam. The brand Vinamilk†, with its extensive market share and position, has gone into consumers’ mind. Vinamilk’s quality products are designed to offer the community a â€Å"healthy and beautiful life†. Despite the difficult year of 2007 such as two-digit inflation, inputs like milk powder and sugar rapidly increased in price, and severe competition with imported products, Vinamilk still kept its strong growth, ensuring shareholders’ profits. Earning per share (EPS) of the year was VND5,607/share, increased by 35% as compared to that of 2006 (VND4,150/share).The Company has been firmly revising its business strategies and marketing activities with its sales team being supported by modern tools and trained with higher professionalism for its sustainable long-term development. The company continues building new dairy factories and expanding the existing ones in Can Th o, Da Nang and Hanoi, as well as proceeding with the dairy farm projects. In addition to the key business, Vinamilk keep seeking opportunities for external investment to maximize profits and increase Company’s shareholder value.Financial results The Company’s turnover and profit have been steadily increasing during the four successive years since its equitization in 2003. The followings are the basic figures of 2007 and 2006: In VND billion – Net revenue – Profit after tax 2007 6,649 963 2006 6,246 660 % increase/ (decrease) 6. 5% 46% Besides the major export market of Iraq, the Company focuses on strengthening the presence of its products in other countries like Cambodia, the U. S, Philippines etc. Dividends Given the good results for 2007, the Board recommends for shareholders’ approval a total dividened for the year of VND 2. 00 per VND 10. 000 par-value share (equivalent to 29% on share par-value). This is a 52. 6% increase over last yearâ€⠄¢s normal after-tax dividend of VND1,900 per share. This marks the fourth year on increase in the payment of the normal dividends to shareholders: 2004: 15%; 2005: 17%; 2006: 19% and 2007: 29% as proposed – and highlights the Company’s sustainable growth. Vinamilk has the financial, human resource strengths and over 30 years of exprerience to achieve the substantial growth in line with its vision and mission. Vinamilk commits to provide healthy products to achieve a beautiful lifestyle for our community.Vinamilk also strongly believes in increasing our shareholder value through growth. Barring unforeseen circumstances, it is the Board’s intention to maintain the after-tax dividend at not less than the normal after-tax dividend of the previous year. However, in any given year, the actual payout will need to take into account the Company’s consolidated earnings outlook and plans for new investments to ensure Company’s sustainable growth. Overseas li sting Plan Vinamilk is under consultancy and working with relevant agencies to be listed in Singapore Stock Exchange (SGX) in 2008 with a new issue of 5% of its existing share capital.This overseas listing shall land Vinamilk into international market, aligning with the top food & beverage groups in the region. This is considered an initial step to raise capital from international financial market for the Company’s expanding strategies. With this listing event in international market, Vinamilk has been, step-by-step, applying standards, corporate governance as requested SGX and other international generally accepted principles and practices, which provide strong assurance of its good financial management and transparency. cknowledgements On behalf of Vinamilk, I would like to express my sincere gratitude to our customers, our business partners and government agencies for their trust and support, which give significant contribution to Vinamilk’ s strong and sustainable success . I wish you all success in work and in business, and hope to expand our cooperation. I would like to thank to more than 4,000 Vinamilk employees for your effective contribution, and I hope that you will strengthen your ability to lead Vinamilk to more success in the future.With good performance from previous years, I strongly believe that Vinamilk will continue its strong and sustainable growth in the following years. The Company has been putting newly completed and expanded projects in use and diversifying our product portfolios to meet all reasonable customer’s needs and simultaneously to increase more and more for Vinamilk shareholder value. Ho Chi Minh City, 15th March 2008 MaI KIeU LIeN Chairwoman ENJOY LIFE Corporate Profile 10 A n n u a l R e p o r t 2 0 0 7 11 cOrPOrate PrOFILe Significant events in our business are set out below: 1976 †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.Our Company was founded Company, a under the name of S outhern Coffee-Dairy subsidiary of the General Food Directorate and had six factories in operation, namely Thong Nhat Dairy Factory, Truong Tho Dairy Factory, Dielac Factory, Bien Hoa Coffee Factory, Bich Chi Powder Factory and Lubico. 1978 †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. The management of our Company was transferred to the Ministry of Food Industry and our Company was renamed United Enterprises of Milk Coffee Cookies and Candies I. 1988 †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. Introduced powdered milk and cereal with milk powder at the first time in Vietnam. 991 †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. Launched UHT milk and spoon yoghurt to Vietnam market. 1992 †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. The United Enterprises of Milk Coffee Cookies and Candies I was formally renamed Vietnam Dairy Company and came under the direct management of the Mini stry of Light Industry. We started focusing on the manufacturing and processing of dairy products. 1994 †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. Hanoi Dairy Factory was built in expansion and market Hanoi as part of our Company’s development strategy to cater to the market in the northern region of Vietnam. 12 A n n u a l R e p o r t 0 0 7 1996 †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. Binh Dinh Dairy Joint Venture Enterprise was founded as the result of our joint venture with Dong Lanh Quy Nhon Joint Stock Company. This joint venture enabled our Company to successfully gain access to the market in the middle region of Vietnam. 2005 †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. Entered into a joint venture agreement with SABMiller Asia B. V. and established SABMiller Vietnam Joint Venture Company Ltd. in August 2005. Our first joint venture product, Zorok, was also launched in the first ha lf of 2007. 2000 †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. CanTho Dairy Factory, which 2006 †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. Vinamilk 50. 01% was listed on the HOSE on 19 January 2006 with the SCIC holding approximately of our Company’s shareholdings. Opened An Khang Clinic in Ho Chi Minh City in June 2006. This is the first clinic in Vietnam managed by a sophisticated electronic management system. The clinic offers a diverse range of services such as nutritional consulting, gynecology testing, pediatrics consulting and health screening. is located in Tra Noc Industrial Zone, Can Tho City was built to better meet the demands of consumers in the Mekong Delta.In the same year, we set up the Logistics and Warehouse Enterprise located in 32 Dang Van Bi St. , Ho Chi Minh City. 2003 †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. Was formally converted into a joint stock company in Decembe r 2003 and changed its name to Vietnam Dairy Products Joint Stock Company to reflect its change in status. 2004 †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. Acquired Saigon Milk Joint Stock Company. Increased capital to VND 1,590 billion Commenced our dairy cow farms program with the acquisition of Tuyen Quang dairy farm, a small scale farm with 1,400 heads of cows in November hare 2005 †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. Bought over partner’s in our Binh joint Dinh 2006. The Tuyen Quang dairy farm was operational at the time of acquisition. venture remaining shareholdings Dairy Products Company Ltd (as Binh Dinh Dairy Factory was then known) and inaugurated Nghe An Dairy Factory, located in Cua Lo Industrial Zone, Nghe An province, on 30 June 2005. 2007†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. Acquired a 55% interest in Lam Son Milk Company Ltd. in September 2007, located in Le Mon Industrial Zone, Thanh Hoa province. 13 cOrPOrate PrOFILe aWarDS aND accOLaDeSOur Company, our factories, our products and the â€Å"Vinamilk† brand, as the case may be, have received a lot of awards, some of which are: Date/Period 1985 1991 1996 2000 2001 2005 2005 2006 Each year from 1995 – 2007 award Labour Medal of Third Ranking Labour Medal of Second Ranking Labour Medal of First Ranking Hero of Labour Labour Medal of Third Ranking Independence Medal of Third Ranking Labour Medal of Third Ranking â€Å"Supreme Cup† for Vietnamese goods of high quality and prestige Top brand in the â€Å"Top Ten High-quality Vietnamese Goods† awarding authority President of Vietnam President of Vietnam President of Vietnam President of Vietnam President of Vietnam President of Vietnam President of Vietnam Intellectual Property Association and Association of Small & Medium Enterprises, Vietnam Saigon Marketing Newspaper readers’ choice In recognition of h er long term contributions to the development of the Vietnamese dairy industry and the development of Vietnam, our Chairwoman, Madam Mai Kieu Lien, was awarded the following prestigious awards and titles: Date/Period 2001 2005 2005 2006 award Labour medal of Second ranking First Prize for Creativity Year 2004 Hero of Labour Labour medal of First ranking awarding authority President of Vietnam World Intellectual Property Organisation President of Vietnam President of Vietnam 14 A n n u a l R e p o r t 2 0 0 7 cOrPOrate StrUctUreVIetNaM DaIrY PrODUctS JOINt StOcK cOMPaNY 100% 100% 55% 50% INterNatIONaL reaL eState VIetNaM DaIrY cOW LaM SON DaIrY SaBMILLer JV 16 A n n u a l R e p o r t 2 0 0 7 Details of our subsidiaries and joint venture as at 31 December 2007 are as follows: Name Date / country of incorporation Principal Business Share capital % owned International Real Estate 12 December 2006 / Vietnam Housing business, real estate brokerage and leasing, warehouse and dock leasing V ND160 billion 100% Vietnam Dairy Cow 14 December 2006 / Vietnam Breeding of dairy cow, mixed cultivation and breeding, sale and purchase of alive animals VND100 billion 100% Lam Son Dairy 6 February 2007 / Vietnam Production and trade of canned milk, powdered milk and other dairy products, baby food, cake, soy milk, beverages, dairy cow breeding, trade of technology and equipment, raw materials VND80 billion 55% SABMiller JV 30 June 2006 / Vietnam Production and trade of beer and US$13. 5million other fruit flavoured beverages with (approximately low alcoholic ratio VND217 billion) 50% 17 MaNageMeNt rePOrtINg StrUctUre SharehOLDerS MeetINg BOarD OF MaNageMeNt geNeraL DIrectOr DePUtY geNeraL DIrectOr OF raW MaterIaLS DeVeLOPMeNt DePUtY geNeraL DIrectOr OF PrODUctION PLaNNINg & IM-eXPOrt DePUtY geNeraL DIrectOr/ FINaNce DIrectOrDIrectOr OF DIrectOr OF raW VIetNaM MaterIaLS DaIrY cOW ONeDeVeLOP – MeNt MeMBer LtD. ,CO PrODUc tION PLaNNINg DIrectOr IMeXPOrt DIrectOr DIrectOr OF r& D ceNter chIeF accOUNt – aNt PLaNNINg DIrectOr INVeSt MeNt DIrectOr It DIrectOr cONStrUctION DIrectOr M&e DIrectOr 18 A n n u a l R e p o r t 2 0 0 7 INSPectION cOMMIttee INterNaL aUDIt DIrectOr DePUtY geNeraL DIrectOr/ PrOJect DIrectOr DePUtY geNeraL DIrectOr OF SALES, MARKETING & cUStOMer DeVeLOPMeNt tech. DIrectOr DIrectOr OF INt. reaL eState ONeMeMBer LtD. , cO MKt DIrectOr cUStOM – er DeVeLOP – MeNt DIrectOr BraNch DIrectOr SaLeS DIrectOr hr DIrectOr aDMIN DIrectOr DIrectOr OF aN KhaNg cLINIcDIrectOr OF DePOt DIrectOr OF FactOrY 19 20 A n n u a l R e p o r t 2 0 0 7 TASTY 21 BOarD OF MaNageMeNt from top to bottom Ms Mai Kieu Lien Ms Ngo Thi Thu Trang Mr Dominic Scriven Mr Hoang Nguyen Hoc Mr Wang Eng Chin 22 A n n u a l R e p o r t 2 0 0 7 MS MaI KIeU LIeN Chairwoman, General Director H as been the Chairwoman of our Board of Management since 14 November 2003. From August 1976 to August 1980, she was an engineer in charge of the condensed milk production at Truong Tho Dairy Factory. Between September 1980 and February 1982, she was a technology engineer in the Technical department of the United Enterprises of Milk Coffee Cookies and Candies I.She served as a vice technical director in charge of production at Thong Nhat Dairy Factory from February 1982 to June 1983. After finishing her training at Economic University of Leningrad in the former Soviet Union (currently Russia), in July 1984 Ms Lien was appointed deputy general director of the United Enterprises of Milk Coffee Cookies and Candies I. In December 1992, she was promoted to general director of Vietnam Dairy Products Company. On 14 November 2003, she was elected chairwoman of the Board of Management and thereafter appointed as General Director of our Company. Ms Lien graduated from Moscow University of Meat and Milk Processing, Russia with a bachelor of science degree in 1976.She holds a Certificate of Economic Management from University of Economy, Russia, and a Certificate of Government Management from National Political Institute, Vietnam. MS NgO thI thU traNg Member, Deputy General Director, CFO Mr DOMINIc ScrIVeN Member Has been a member of our Board of Management since 14 November 2003, and Deputy General Director and Finance Director of our Company since March 2005. Ms Trang joined our Company in 1985 as a financial analyst, and in January 1995 she became a Vice Manager in the Accounting-Statistics department of the Vietnam Dairy Products Company. She held this position until December 1997 and served for a brief time between January 1998 and February 1998 as the Head of the AccountingStatistic department.Between February 1998 and March 2005, Ms Trang held the position of the Chief Accountant in charge of the Accounting department of the Vietnam Dairy Products Company. In March 2005, she was appointed deputy general director and finance director. Ms Trang graduated from the Finance-Accounting University, Ho Chi Minh City, with a Bachelor of Arts deg ree majoring in accounting and finance in 1984. She also holds a Master of Business Administration degree from the Open University, Ho Chi Minh City. Has been a member of our Board of Management since 31 March 2005. From 1985 to 1986, Mr Scriven was an assistant to the board of directors at M&G Investment Management where he assisted the board in matters relating to investments in the European and Asia regions.Between 1986 and 1988, he was a consultant at the investment banking arm of Citigroup where he assisted in the setting up and consulting for three investment funds, namely Thailand Fund, Seoul International Trust and Korea International Trust. Mr Scriven held the position of director in charge of investment at Sun Hung Kai Investment Fund between 1989 and 1991. He later joined Peregrine Corporation where he oversaw the capital market development. He co-founded Dragon Capital Group Limited in 1994 and currently holds the position of [managing director]. Mr Scriven graduated fro m the University of Exeter in 1985 with a Combined Honour degree in Laws and Sociology.He was awarded the Order Of The British Empire (OBe) in the Queen Elizabeth II’s 2006 New Year’s Honours List. Mr hOaNg NgUYeN hOc Member Mr WaNg eNg chIN Member Has been a member of our Board of Management since 4 November 2006. Prior to being appointed to our Board of Management, Mr Hoc had extensive experience within the Ministry of Finance of Vietnam. From October 1999 to June 2003, Mr Hoc was a deputy director in the department for state-owned enterprises’ financial management. He was appointed as Deputy General Director of the State Capital Investment Corporation in January 2008. Mr Hoc holds a Master of Business Administration degree from Ha Noi National University. Has been a member of our Board of Management since 31 March 2007.Between 1987 and 1988, Mr Wang worked as a corporate development executive with Cold Storage (S) Pte Ltd. He was a manager, Plain Heaven Cold Storage (S) Pte Ltd from 1988 to 1991. Mr Wang joined F&N Foods Pte Ltd as a general sales manager in 1991 and held this position until 1997. Between 1997 and 2003, he served as a deputy general manager at F&N Foods Pte Ltd and F&N Dairies (M) Sdn Bhd. In 2003, he became a general manager responsible for general management of F&N Foods Pte Ltd and F&N Vietnam Foods and held this position until September 2006. On 1 October 2006, he was appointed acting chief executive officer in charge of general management of the Food & Beverage Division, Fraser & Neave Group.He graduated from University of Mississippi, USA, in 1984 with a Bachelor of Business Administration and in 1987 with a Master of Business Administration. 23 BOarD OF DIrectOrS from left to right Ms Nguyen Thi Thanh Hoa Ms Mai Kieu Lien Mr Tran Minh Van Ms Nguyen Thi Nhu Hang Mr Tran Bao Minh Ms Ngo Thi Thu Trang MS MaI KIeU LIeN General Director MS NgUYeN thI thaNh hOa Deputy General Director Mr traN BaO MINh Deputy General Di rector (See â€Å"Board of Management† for imformation about Ms Mai Kieu Lien) MS NgO thI thU traNg Deputy General Director, CFO (See â€Å"Board of Management† for imformation about Ms Ngo Thi Thu Trang) Has been a Deputy General Director of our Company since 2000.Between September 1978 and June 1983, Ms Hoa was a lecturer at the Foodstuff and Process & Equipment departments at the Ho Chi Minh Polytechnic University. She later joined our Company in July 1983 as a process engineer at Truong Tho Dairy Factory. Ms Hoa held the positions of deputy director and then director in charge of overall operation of Truong Tho Dairy Factory from July 1991 to 1999. From January 2005, Ms Hoa is a deputy general director of Vietnam Dairy Products Company. She is currently in charge of planning, import, export and research and development of our Company. Ms Hoa graduated from Milk Processing Technology University, Moscow, in 1978 with a Bachelor degree in Milk Processing Technology.Mr Minh joined PepsiCo Vietnam in September 1997 as a marketing manager and was promoted to marketing director in August 2001 where he was in charge of the formulation, management and execution of marketing strategies for PepsiCo’s six leading brands in Vietnam, namely Pepsi, 7-Up, Mirinda, Aquafina, Twister and Sting. He was later transferred to PepsiCo’s headquarters in New York in February 2004 where he held the position of global Pepsi innovation director and led Pepsi’s global product and packaging innovation agenda. Between April 2005 and August 2005, Mr Minh was seconded to PepsiCo Thailand as marketing director in charge of formulating Pepsi’s marketing strategy in Thailand for non-carbonated beverages.From August 2005 to September 2006, 24 A n n u a l R e p o r t 2 0 0 7 Mr traN MINh VaN Deputy General Director MS NgUYeN thI NhU haNg Deputy General Director he served as marketing director of PepsiCo’s Asia Pacific business unit where he mana ged PepsiCo’s Mountain Dew, 7-Up and Mirinda brands of beverages for the Asia Pacific region. Mr Minh joined Vinamilk in Octocber 2006 as Deputy General Director in charge of Sales, Marketing and Customer Development. Mr Minh graduated from the Ho Chi Minh City University of Economics in 1991 with a Bachelor of Arts majoring in business planning and obtained a Masters in Commerce degree from the University of Western Sydney in 1996.As a testament to his contribution to PepsiCo, he was awarded the Asia Pacific Region Marketer of the Year award in 2002 and Top Performance Marketer in the Asia Pacific Region award in 2003 by PepsiCo. Has been a Deputy General Director of our Company since July 2006. Between 1990 and July 1994, Mr Van was a [deputy director] assisting the director of Thong Nhat Dairy Factory. In August 1994, he was appointed director of the Thong Nhat Dairy Factory and continued to hold this position until June 2006. He was appointed Deputy General Director in ch arge of the Project department of our Company in July 2006. Mr Van graduated from Ho Chi Minh City Polytechnic University in 1981 with an engineering degree. He obtained Bachelor in Business Administration from Ho Chi Minh City University of Economics in 1994, a LLB degree (with major in commercial laws) from Ha Noi University of Laws in 2001, and a Master in Business Administration from Ho Chi Minh City University of Economics in 2003. Ms Hang first joined our Company in 1981 where she held the position of deputy manager in the consumption department until 2001. She was later promoted to the position of director in August 2001 where she was in charge of managing the Warehouse Enterprise until December 2002. Ms Hang was promoted to deputy general director in January 2003 where she was and still is in charge of the technical project department. She is also in charge of managing and developing dairy farms that supply raw milk to the Company. In July 2007, Ms Hang was appointed directo r of Vietnam Dairy Cow Limited Company with One Member, a subsidiary of our Company.Ms Hang graduated from the Ho Chi Minh City University of Economics in 1994 with a bachelor degree in business administration. 25 INSPectION cOMMIttee MS Le thI KIM aNh Member Mr NgUYeN VIet cUONg Head of Inspection Committee MS NgUYeN thI tUYet MaI Member Between August 2001 and December 2004, she worked as a senior auditor at PricewaterhouseCoopers Vietnam Limited. She joined VietFund Management in December 2004 as a portfolio manager for Vietnam Growth Investment Fund (VF2). Ms Kim Anh graduated from the University of Economics, Ho Chi Minh City, with a bachelor degree majoring in accounting and auditing. Mr Cuong began his career at KPMG Vietnam in 1998 until 2002 as a senior auditor.Between 2003 and 2004, he was a management accountant at Unilever Bestfoods Vietnam where he was responsible for internal management reporting for food business of Unilever Vietnam. In 2004, he joined VinaCapital Gro up and now being a deputy managing director in charge of managing the portfolio for Vietnam Opportunity Fund. Mr Cuong was elected head of our Company’s Inspection Committee in December 2003. He graduated from the University of Economics, Ho Chi Minh City, with a bachelor degree in economics majoring in banking in 1994. Mr Cuong is holding an ACCA certificate issued by the Association of Chartered Certified Accountant, United Kingdom.From 1993 to 1997, Ms Mai held the position of manager at ANZ Bank, Ha Noi Branch where she was responsible for trade finance and corporate banking relationship management. Between 1999 and 2003, she was a manager at ANZ Bank, Singapore Branch where her experience covered relationship management for the corporate banking division, international banking strategy, structure commodity, trade finance and Asian region credit management. From 2004 to May 2007, she served as senior manager at the representative office of Openasia Consulting Ltd in Ho Ch i Minh City. In June 2007, she was promoted to the position of director of corporate finance in charge of consulting services at Openasia Consulting Vietnam Ltd.Ms Mai graduated from the Ha Noi University for Foreign Language Studies in 1991 with a bachelor degree majoring in English and obtained a master degree in business administration from the University of Melbourne in 1999. 26 A n n u a l R e p o r t 2 0 0 7 27 28 A n n u a l R e p o r t 2 0 0 7 HEALTHY 29 cOPOrate gOVerNaNce Our Directors recognize the importance of corporate governance and the offering of high standards of accountability to our Shareholders. a. Board of Management Matters the Board’s conduct and its affairs The Company should be leaded by an effective Board to lead and control the Company. The Board is collectively responsible for the success of the Company. To facilitate effective management, certain functions have been delegated by the Board to various Board Committees.The Board Committees operate u nder clearly defined terms and reference. The Board conducts meeting on a quarterly basis during the year. Ad-hoc meetings are convened when circumstances required. The meetings can be conducted by means of telephone conference or other methods of simultaneous communication by electronic or telegraphic means. Every member of the Board should be able to obtain independent advice and use independent judgement when making decisions. Inspection Committee is also informed and invited to attend the Board’s meetings. A record of the Director’s attendances at the Board level meetings during the financial year ended 31 December 2007 is disclosed as follows: Seq. 2 3 4 5 Name of Director Ms Mai Kieu Lien Ms Ngo Thi Thu Trang Mr Hoang Nguyen Hoc Mr Dominic Scriven Mr Wang Eng Chin No. of meetings 5 5 5 5 5 attendance 5 5 5 5 5 Board composition and Balance There should be a strong and independent element on the Board, which is able to exercise objective judegement on corporate af fairs independently from Management. No individual or small group of individuals should be allowed to dominate the Board’s decision making. The Board has maintained a strong and independent element, with three out of five directors being independent. The Board comprises of the following members: executive Directors Ms Mai Kieu Lien Ms Ngo Thi Thu Trang ChairwomanNon – executive Directors Mr Hoang Nguyen Hoc Mr Dominic Scriven Mr Wang Eng Chin The profiles of the directors are set out on page 22 of this annual report. Vinamilk has a good balance of directors who have extensive business, financial, accounting and management experience. The objective judgement of the independent and non-executive directors on corporate affairs and their experience and contributions are valuable to Vinamilk. 30 A n n u a l R e p o r t 2 0 0 7 Board Membership There should be a formal and transparent process for the appointment of new directors to the Board. Any nomination of new directors should go through a formal selection process: the Board should appoint the new director and then he should be officially nominated by the Annual General Meeting (â€Å"AGM†).Board Performance There should be a formal assessment of the effective of the Board as a whole and the contribution of each Director to the effectiveness of the Board. access of Information Board members are provided with adequate and timely information prior to Board meetings and on an on-going basis to enable them to carry their duties. The Board of Directors provides with adequate and timely information as well as a review of Vinamilk’s performance prior to the Board meetings. The Board has separate and independent access to Vinamilk ’s senior management and secretary, should they have any queries on the affairs of Vinamilk . A notice of meeting, which contains agenda, is issued to the Board prior each Board meeting.Vinamilk’s secretaries attend all the Board meetings and are respo nsible for ensuring that Board procedures are followed and that applicable rules and regulations are complied with. The Company’s secretaries are: Mr Nguyen Thanh Tu Ms Le Quang Thanh Truc (Administration Director) (Financial Investment Manager) B. remuneration Matters remuneration Policy The Remuneration Committee reviews and recommends to the Board an appropriate and competitive framework of remuneration for the Board. A formal and transparent procedure is used when setting the remuneration packages of individual directors. No director is involved in deciding his own remuneration.The composition of the Remuneration Committee is as follows: Mr Dominic Scriven Mr Wang Eng Chin Ms Vu Bich Nghia (Chairman, Non-Executive Director) (Member, Non-Executive Director) (Member, Human Resources Director) The Remuneration Committee recommends to the Board for endorsement a framework of remuneration for key executives, specific remuneration packages for each member of the Board of Manage ment, Chairwoman and General Director. 31 cOPOrate gOVerNaNce Level and Mix of remuneration The level of remuneration should be appropriate to attract, retain and motivate the directors needed to run Vinamilk successfully but Vinamilk should avoid paying more than is necessary for this purpose.A proportion of remuneration should be based on corporate and individual performance. In setting remuneration packages, the Remuneration Committee takes into consideration pay and employment conditions within industry and in comparable companies, the relative performance of Vinamilk as a whole, as well as individual Directors and key executives. An annual performance incentive plan has been implemented for all employees. Directors’ fees, Inspection Committee’s fees were approved by shareholders at Vinamilk’s Annual General Meeting for the financial ended 31 December 2007 as follows: Fee/month (VND million) Board Chairwoman Board Members Inspection Committee Chairman Inspec tion Committee Members 13 7 8 6Performance bonus framework for the Board of Management and Board of Directors was approved by shareholders at Vinamilk’s Annual General Meeting for the financial ended 31 December 2007 as follows: – If achieving the targeted profit after tax : 0. 1% on profit after tax. – Exceeding the targeted profit after tax : additional 20% of the exceeding targeted profit after tax. Disclosure of remuneration The remuneration of directors is set out below: FY 2007 Board of Management Ms Mai Kieu Lien Ms Ngo Thi Thu Trang Mr Hoang Nguyen Hoc Mr Dominic Scriven Mr Wang Eng Chin Board of Directors Mai Kieu Lien Ngo Thi Thu Trang Nguyen Thi Thanh Hoa Nguyen Thi Nhu Hang Tran Minh Van Tran Bao Minh Notes: A : Below VND3 billion B : From and above VND3 billion.B A A A A B A A A A A A A A A A A A A A A A FY2006 32 A n n u a l R e p o r t 2 0 0 7 The amounts paid to the members of the Board of Management and the Board of Directors include the bonus d etermined in the manner described under â€Å"Labour Contracts – Performance Bonus for members of the Board of Management and the Board of Directors† c. accountability and audit Financial reporting The Board is accountable to the shareholders while the Management is accountable to the Board. The Board should present a balanced and understandable assessment of Vinamilk’s position and prospects in the annual accounts and other reports such as interim reports to regulators.The Board meeting is held on a quarterly basis to review Vinamilk’s performance and quarterly summerised financial report is submitted to Ho Chi Minh City Stock Exchange (â€Å"HOSE†). Annual General Meetings are held every year to obtain shareholders’ approval of routine business. Internal controls The Board should ensure that the Management maintains a sound system of internal controls to safeguard Vinamilk’s assets and shareholders’ investments. With the assi stance of the Internal Auditors, the Board and the Inspection Committee reviews the effectiveness of the key internal controls and ensures that the necessary corrective actions are taken on a timely basis.There are formal procedures in place for both internal and external auditors to report independently conclusions and recommendations to Management and Inspection Committee. Internal audit Vinamilk should establish an internal audit function that is independent of the activities it audits. Vinamilk appointed Internal Audit Director and established its internal audit function in September 2005. The key scope of internal audit is: Review the effectiveness of Vinamilk’s internal controls; Provide assurance that key business and operational risks are identified and managed; Internal controls are in place and functioning as intended and Operations are conducted in an effective and efficient manner.The Internal Audit Director reports directly to General Director. communication with Shareholders Vinamilk regularly communicates with its shareholders, striving for timeliness and transparency in its disclosure to shareholders and the public. Regular meetings and dialogues are held with investors, analysts, fund managers, and press. When material information is disseminated to HOSE, such information is simultaneously posted on the Company’s website at www. vinamilk. com. vn Vinamilk encourages shareholder participation at its annual general meetings and gives shareholders the opportunity to communicate their views on matters effecting Vinamilk. 33 ISK MaNageMeNt Foreign currency risk Foreign currency risk arises when there is a mismatch of funding foreign currency dominated assets with liabilities of the same currency. The exposure to foreign currency risk in this aspect was not significant in 2007, but may have a significant impact on Vinamilk’ s performance in the coming years. Vinamilk always consider using appropriate financial instruments, as an d when necessary, to mitigate this risk. Liquidity risk Vinamilk’ s exposure to liquidity risk arises in general funding of Vinamilk’ s business activities. It includes the risks of being able to fund business activities in a timely manner.Vinamilk adopts a prudent approach to managing its liquidity risk by maintaining sufficient cash and marketable securities, and has available funding through a diverse source of committed and uncommitted credit facilities from various banks. As at 31 December 2007, Vinamilk’ s net borrowings are as follows: 2007 Cash and cash equivalent Borrowings Net borrowings 114 42 2006 157 60 – credit risk Vinamilk’ s maximum exposure to credit risk in the event that the customers fail to perform their obligations as at 31 December 2007 in relation to accounts receivable is its carrying amount as indicated in the balance sheet. Vinamilk has policies in place to ensure that sales of products are made to customers with an appr opriate credit history. eliance on Key Management Personnel Although we are not dependent on any one person in our Board of Management or our Board of Directors, our success depends to a significant extent on the skills, capabilities and efforts of our Board of Management and our Board of Directors, as well as our ability to recruit and retain appropriately skilled personnel to take up positions on these Boards. Our ability to continue to attract, retain and motivate key personnel and senior members of our Board of Management and Board of Directors will have an impact upon our operations. The competition for skilled and highly-capable personnel is intense, and the loss of the services of one or more of these individuals, without adequate replacements or the inability to attract new qualified personnel at a reasonable cost, would have a material adverse effect upon our financial performance and operations.To mitigate this risk, Vinamilk has been employing remuneration policy to maint ain and attract the talents. export Market risk We currently export our products to Iraq, Thailand and other countries in Asia and Europe. Demand for our products depends on the political and economic stability of these countries. As Iraq is one of our major export countries, any social, political or economic upheaval in the country may materially adversely affect our operation results. Vinamilk has been focusing on its local market which is considered as its main market. Simultaneously, Vinamilk is also looking for other potential export markets to mitigate the risk. 34 A n n u a l R e p o r t 2 0 0 7 35 BUSINeSS OVerVIeWSince we commenced operations in 1976, we have built strong brand name recognition for our dairy products in Vietnam. Our ‘‘Vinamilk’’ brand is currently a widely recognised dairy brand in Vietnam. 36 A n n u a l R e p o r t 2 0 0 7 Vietnam Dairy Industry Overview Fuelled by the impressive economic growth in the past decade, the dairy indu stry in Vietnam has experienced rapid growth in recent years. Coinciding with improvements in living standards in Vietnam, the more widespread availability and affordability of production technologies, and vast improvements in infrastructure have led to an overall increase in the variety, quality and volume of dairy products produced in Vietnam.The market has also experienced an influx of foreign multinational companies. Total dairy product sales in Vietnam have grown by 53. 6% from approximately US$418 million in 2003 to reach approximately US$642 million in 2007. The following chart sets forth total dairy product sales in Vietnam between 2003 and 2007. 2003 – 2007 total dairy product sales in Vietnam (US$ million) 642 530 418 472 589 2003 2004 2005 2006 2007 Source: Euromonitor International This strong growth in demand for dairy products is expected to continue on the back of strong GDP growth, a growing urban population with heightened disposable income and an increased a wareness about the health benefits of dairy products.Euromonitor International estimates that total annual consumption of dairy products in Vietnam to grow from approximately US$1,332 million in 2007 to reach approximately US$1,902 million by 2011. These factors should contribute to a significant increase in Vietnam’s very low per capita consumption of dairy products compared to Western countries. The below chart compares Vietnam’s per capita consumption of dairy products to Asia, Europe and North America between 2003 and 2007. 436 461 382 331 407 192 201 214 225 229 11 25 2003 12 27 2004 13 29 2005 14 32 2006 Europe 16 35 2007 Vietnam Asia North America Source: Euromonitor International 37 VINaMILK We are the leading producer of dairy products in Vietnam based on sales volume and revenue.Our products range from core dairy products such as liquid and powdered milk, to value-added dairy products such as condensed milk, drinking and spoon yoghurt, ice cream, and cheese. We offer one of the largest dairy portfolios in Vietnam, across a wide selection of products, flavours, and packaging sizes. According to Euromonitor, Vinamilk has been the number [1] dairy player in Vietnam for the three years ending 31 December 2007. 38 A n n u a l R e p o r t 2 0 0 7 Since commencing operation in 1976 we have built the largest distribution network in Vietnam and have leveraged our network to introduce new products to the market, such as juices, soya milk, bottled drinking water and coffee.We market the majority of our products under our â€Å"Vinamilk† brand, which has been designated as both a Famous Brand and one of the Top 100 Strongest Brands by the Vietnamese Ministry of Industry and Trade in 2006. We have also been voted the top brand in the â€Å"Top Ten High-quality Vietnamese Goods† for each year between 1995 to 2007. We currently focus on business activities in the fast growing Vietnamese dairy market, which according to Euromonitor has gr own at a CAGR of [7. 85]% from 1997 to 2007, and produce the majority of our products at our [nine] operational production facilities with a combined capacity of [570,406] tonnes per annum. We have the leading distribution network in Vietnam, giving us broad access to consumers.We generate a substantial majority of our revenues from sales of our products in Vietnam comprising both dairy and non-dairy products and export to countries such as Australia, Cambodia, Iraq, the Philippines and the United States. †¢ †¢ Strong supplier relationships to ensure a dependable milk supply; Highly experienced management with a proven track record of delivering strong overall business performance; World class production facilities. †¢ Leading market position supported by wellestablished brand name Since we commenced operations in 1976, we have built strong brand name recognition for our dairy products in Vietnam. Our ‘‘Vinamilk’’ brand has been in use since our establishment and is currently a widely recognised dairy brand in Vietnam.We believe we have achieved our dominant market position through our focus on advertising, marketing and continuous improvement in product innovation and quality assurance. Based on our long-standing presence in Vietnam, we believe we are better able to identify and understand consumer trends and preferences, that allows us to focus our development efforts on identifying product attributes that are most valued by our customers. For example, our deep understanding and efforts have helped our Vinamilk Milk Kid range of products become one of the best selling milk product marketed at children aged between six and 12 years in Vietnam in 2007. Strong and diversified product portfolio We offer a wide range of dairy products targeting a wide spectrum of consumers.We have product lines that are targeted at individual consumers including young children, young adults and also the [elderly] as well as products target ed at general households and commercial outfits such as cafes. In addition, by offering consumers a diverse range of products in different package sizes, we are able to offer our customers a measure of portability and convenience unique to dairy products being sold in Vietnam. OUr cOMPetItIVe StreNgthS We believe that our success to date and potential for future growth can be attributed to a combination of our strengths, including the following: †¢ †¢ †¢ †¢ Leading market position supported by wellestablished brand name; Strong, diversified product portfolio; Extensive sales and distribution network; Strong market-oriented development capabilities research and 39 xtensive sales and distribution network We believe our extensive sales and distribution network is critical to the success of our operations, enabling us to reach a wide range of customers and ensure an efficient and effective rollout of new products and marketing campaigns nationwide. As of 31 December 2007, we sell our products across all 64 provinces including five centrally-controlled municipalities in Vietnam. Our experienced sales team, assists our distributors to service the end retailers and consumers, and promote our products. Our sales team is also responsible for servicing and supporting the distribution activities and development of new relationships with distributors and retailers. In addition, we organise various marketing and promotional activities with local distributors aimed at promoting our products and building our brand image across the nation.In addition to our domestic distribution networks, we are currently in the process of negotiating the terms of supply contracts with potential business partners in countries such as Thailand, Australia and the United States. We are also one of the few food and beverage companies that have a readily available network of refrigerated coolers. The availability of coolers poses a high barrier of entry for competitors who may wish to enter the food and beverage market as the establishment of a refrigerated cooler network requires a substantial amount of capital expenditure. Strong supplier relationships to ensure steady milk supply A consistent supply of high quality raw milk is crucial to our business.Accordingly, we have established strong relationships with our suppliers through our favourable pricing policies, provision of financial support to farmers to purchase dairy cows and price incentives for milk of higher quality. We have entered into annual contracts with our milk suppliers and currently purchase over approximately 40% of all domestically produced raw milk. Our production facilities are strategically located close to dairy farmers in Vietnam to enable us to maintain and strengthen our relationships with them and we carefully select the location of our milk collection centres to maintain its freshness and quality. We also source raw milk powder from Australia and New Zealand to meet our produ ction demands in terms of quantity and quality.We believe that our ability to obtain a steady supply of raw milk is crucial to our business and allows us to maintain and increase our production output. Strong market-oriented research and development capabilities We have a sales and marketing team that is experienced in analysing and identifying consumer preferences and trends, and support ground staff who have a thorough understanding of consumer preferences through constant contact with our customers at our various points of sale. For example, our understanding of the preferences of young consumers aged between six and 12 has helped us successfully launch our Vinamilk Milk Kid marketing campaign in May 2007.As a result of our successful marketing campaign, Vinamilk Milk Kid was the best selling milk marketed at children aged between six and 12 in 2007. We also have strong capabilities in product research and development with a view to improve product quality and increase product va riety for consumers. We have a research and development team comprising 10 engineers and one technical staff. Our researchers work closely with our marketing department who in turn collaborate with several market research agencies to identify the trends in consumer preferences. We believe our ability to develop new products based on consumer’s evolving preferences has been a key factor in our success and will continue to play a key role in our future growth and development.In an effort to ensure that our products are in line with the latest consumption trends, we actively conduct research and work with market research companies to study trends in 40 A n n u a l R e p o r t 2 0 0 7 sales performance, customer feedback, food and beverage-related media. highly experienced management with a proven track record of delivering strong overall business performance We are managed by an experienced and dedicated management team with extensive industry experience. Our Chairwoman, Mdm Mai Kieu Lien, has over 30 years of experience in the dairy industry with the Company and has played a critical role in the growth and development of the Company to where it stands today.Our marketing team is led by Mr Tran Bao Minh, who has over 10 years of branding and marketing experience in the beverage industry and has been instrumental in reviving our brand image and product innovation. Other members of our senior management team have an average of 25 years experience in the manufacturing, distribution and sale of dairy products. We also have a strong middle management team that is well-equipped to support our senior management and stay abreast of changes in the market place. World class production facilities We use modern production and packaging technologies in all of our manufacturing facilities. We employ technologies imported from European countries such as Germany, Italy and Switzerland in ur production lines. To the best of our knowledge, we are the only company in Vietnam who has the machinery utilising the spray dry technology produced by Niro Inc, Denmark, a world leader in industrial drying technologies. We also employ world class production lines provided by Tetra Pak for our dairy and value-added dairy products. OUr BUSINeSS StrategIeS We aim to maximise shareholder value and pursue a business growth strategy based on the following principal components: †¢ †¢ Expansion of market share in existing and new markets; Develop a comprehensive portfolio of dairy products to target a broader consumer base and expand into higher margin alue-added dairy products; Development of new product lines to satisfy different consumer preferences; Brand cultivation; Continuously enhancing supply chain management; Development of raw material sources to ensure a reliable and consistent fresh milk supply base. †¢ †¢ †¢ †¢ 41 BraND POrtFOLIO We currently have 4 mega brands as follows: Beautiful Life Mum’s Love 42 A n n u a l R e p o r t 2 0 0 7 Passion to Win Natural Freshness 43 PrODUct 44 A n n u a l R e p o r t 2 0 0 7 Overview We produce a broad range of dairy products with different types and flavours of powdered milk, infant cereals, UHT liquid milk, UHT drinking yoghurts, spoon yoghurt, sweet condensed milk and cheese.We have established different teams to be responsible for the research and development, raw materials procurement, supervision of outsourced manufacturing, marketing, sales and distribution of products under our core brands and other brands. Our core dairy products such as liquid milk and powdered milk represent two of our largest product segments, and accounted for approximately 25. 4% and 23. 0%, respectively, of our revenue in 2007. Within the liquid milk segment, Vinamilk Milk Kid range constituted the largest single item and accounted for approximately 7. 0% of the liquid milk revenue of Vinamilk and approximately 2. 1% of our overall revenue in 2007.Other dairy products such as our condensed milk and yoghurt products have been experiencing steady growth over the past two years and accounted for approximately 34. 0% and 10. 0% of our revenue in 2007. Our condensed milk product is showing promising growth where our revenue for our condensed milk products in FY2007 has experienced an approximate 38. 0% increase from FY2006. Dairy Products Liquid Milk We produce, distribute and sell liquid milk in Vietnam under the Vinamilk Brand. Our revenue from sales of liquid milk grew from approximately VND1,469 billion in 2006 to approximately VND1,736 billion in 2007, representing a compound annual growth rate of approximately 18%.As of 31 December 2007, we account for approximately 35% of the liquid milk market in Vietnam based on a combination of data from internal tracking systems and statistics and externally commissioned reports by AC Nielsen, tracking consumption patterns in 36 of the 64 provinces (including five centrally controlled municipalities). Our liquid milk s egment includes the following three product categories: †¢ †¢ †¢ Plain milk Flavoured milk â€Å"Special needs† milk such as Calcium and DHA fortified milk and skim milk 45 Our â€Å"Vinamilk† brand is one of our core brands for liquid milk, drinking yoghurt, spoon yoghurt, ice cream, probiotic and cheese. We have focused on building up our product image to be one that is easily associated with a healthy, beautiful and balanced lifestyle. Vinamilk UHT milk has consistently dominated the Vietnamese liquid milk market. It is targeted at consumers aged six years and above.Our Fino Pack range of UHT milk offers flavours such as sweetened, sugarfree, strawberry and chocolate and comes in packages of 250ml. Our Vinamilk UHT fresh milk range was officially launched in April 2007 and is targeted at the premium market in Vietnam. Our Vinamilk UHT fresh milk products are manufactured using 100% raw fresh milk. We believe our competitive edge in this market segment lies in our ability to ensure consistent supply from local dairy farmers and our wide network of milk collection centres. Our Vinamilk UHT fresh milk products are available in 180ml and one litre cartons. Officially launched in September 2007, Vinamilk Milk Kid range is targeted at consumers aged between six and 12 years old.Our Vinamilk Milk Kid products are available in a range of flavours such as Strawberry, Chocolate, Sweetened and DHAfortified and are available in 180ml packs. 46 A n n u a l R e p o r t 2 0 0 7 Powdered Milk We first introduced our range of powdered milk products in 1988. As at 31 December 2007, our revenue from powdered milk products account for approximately 13. 8% of the market value in Vietnam based on a combination of data from internal tracking systems and statistics and externally commissioned reports by AC Nielsen tracking consumption patterns in six key cities such as Ha Noi, Ho Chi Minh City, Can Tho, Da Nang, Hai Phong and Nha Trang.However, our rev enue from sales of powdered milk decreased from approximately VND2,191 billion in 2006 to approximately VND1,584 billion in 2007, primarily due to the decrease in export sales. Our Dielac powdered milk range is targeted at consumers with children aged six years and below. Our powdered milk products can be categorised into two main segments: Two formulas priced within two different price ranges. Dielac Star is priced at the lower range of the two and is marketed as an affordable and quality product. It is manufactured with Pro5S formulation containing DHA, Choline, Inuline, Canxi and MCT Oil. Dielac Alpha is produced with a unique formulation containing colostrums, DHA, Omega 3 and Omega 6 fatty acids.It is priced at a premium over Dielac Star given its higher Colostrum content. Our Dielac line of powdered milk products has experienced an annual growth rate of approximately 16% over the past four years. Our traditional Ridielac infant and follow-on formula is manufactured using MAX-4 D (with 4D representing Development, Digestion, Deliciousness and Dependability) technology, combining nutrient-rich milk, natural foods such as meat, shrimp, vegetables, vitamins and minerals. Our formula is designed to optimise nutrient absorption in children during their growing years and enhance appetites. Ridielac infant cereal is targeted at consumers with children aged between four and 24 months.Ridielac is produced with a unique formulation containing colostrums and is marketed as a value-for-money product. 47 Condensed Milk Condensed milk is one of our most successful products and largest revenue contributors, representing approximately 34. 0% of our total revenue in 2007. Our revenue from sales of our condensed milk products grew from approximately VND1,690 billion in 2006 to approximately VND2,332 billion in 2007, representing a compound annual growth rate of approximately 38%. As at 31 December 2007, we hold a market share of approximately 79% in the condensed milk marke t in Vietnam based on a combination of data and statistics from internal tracking systems tracking the sales volume of our competitors’ products.Southern Star (Ngoi Sao Phuong Nam) is part of our commercial line under our condensed milk segment, and is primarily marketed to commercial outfits and cafes and is commonly consumed with coffee or mixed fruits. It is priced economically to offer enhanced profit margins to proprietors. Ong Tho is part of our household line of quality products and is primarily targeted at Vietnamese households. It can be consumed either hot or cold and is commonly used as a cooking or baking ingredient. Our Ong Tho brand of condensed milk is priced at a premium over our Southern Star brand of condensed milk due to its higher calcium and protein content. 48 A n n u a l R e p o r t 2 0 0 7 Yoghurt Products We produce, distribute and sell our drinking yoghurt and spoon yoghurt in Vietnam under the Vinamilk brand.Our yoghurt products represent one of our key focus growth areas, and our revenue from sales of yoghurt products grew from approximately VND634 billion in 2006 to approximately VND698 billion in 2007, representing a compound annual growth rate of approximately 10%. As at 31 December 2007, we hold a market share of approximately 26% in the drinking yoghurt market and approximately 97% in the spoon yoghurt market in Vietnam based on a combination of data from internal tracking systems and statistics and externally commissioned reports by AC Nielsen, tracking consumption patterns in 36 out of the 64 cities (including five centrally controlled municipalities) in Vietnam. Vinamilk Drinking Yoghurt is available in three flavours: Fruit, Orange and Strawberry in 180ml packs. Vinamilk Spoon Yoghurt is targeted at the average Vietnamese household.Marketed as a fresh tasting, delicious and high quality health product, our Vinamilk Spoon Yoghurt product line has dominated the spoon yoghurt market in Vietnam with a market share of app roximately 97%. It is available in a variety of flavours such as Strawberry, Fruit, SugarFree with Kefir and Sweetened in 110g carton packs. In addition to the abovementioned dairy products, we also manufacture other dairy products such as ice-cream and cheese. 49 Ice-cream We introduced our brand of ice-cream products in 1976 and produce, distribute and sell our ice-cream in Vietnam under the Vinamilk Brand. Vinamilk Ice-cream is targeted at the midend ice-cream market in Vietnam.It comes in a variety of flavours such as Chocolate, Coconut, Durian, Green Bean, Strawberry, Vanilla and Taro. Our ice-cream products are available in 450ml or one-litre tubs and also available in pre-packed ice-cream cups, popsicles and cones. Cheese Vinamilk Cheese was launched in 2000 under our anticipation of the potential of the cheese market in Vietnam. The product is currently targeted at the average Vietnamese household and is manufactured using French technology and is available in 140g packs. No n-Dairy Products Other Food and Beverages In addition to our dairy products, we also manufacture and distribute other F&B products such as our V-Fresh line of juices and soya bean milk, Cafe Moment coffee and ICY bottled water.The revenue for this product segment accounted for approximately 2% of the total revenue of the Company. 50 A n n u a l R e p o r t 2 0 0 7 V-Fresh The product range was introduced in 1990. V-Fresh Juice is designed to target young adults, offering them healthy refreshments that promote a image that is energetic and full of vitality. V-Fresh Juice is manufactured using natural fruit juices. It is available in one litre packs and in a variety of flavours such as Apple, Carrot, Custard-apple, Grape, Grapefruit, Guava, Orange, Peach and Pineapple. Packaged in Tetra Pak packaging, V-Fresh Juice is predominantly distributed in off-premise channels. V-Fresh Soya Milk is one of the most popular drinks among our newly launched products.V-Fresh Soya Milk is targeted at the mid-end market and is marketed as a value-for-money product. Extracted from selected natural soybeans, our V-Fresh Soya Milk line of products offers consumers a healthy and nondairy alternative to consumers. It is available in flavours such as plain and sweetened in 180ml and one-litre packs. Coffee We produce, distribute and sell our coffee products in Vietnam under the Cafe Moment brand name. We launched our coffee line of products in 2005. Manufactured from the finest coffee beans, our coffee products offer consumers with a unique tasting experience. Our coffee products offer consumers great value for money.Cafe Moment is distributed through our nationwide distribution network and through our direct sale channels located primarily in urban areas. 51 52 A n n u a l R e p o r t 2 0 0 7 SAFETY 53 INVeStOr reLatIONS Vinamilk maintains an effective communication channel with investors through its annual general meeting held on a yearly basis and through Vinamilk’ s investo r relations function. Financial performance and other important information relating to Vinamilk’ s operations are adequately disclosed on its website at www. vinamilk. com. vn and other means of public communications such as HOSE’ s website, securities companies’ website, newspapers and securities bulletins,†¦. 54 A n n u a l R e p o r t 2 0 0 7During the year, Vinamilk has welcomed more than 100 individual and institutional investors, banks, fund managers to visit us, some of our visitors are: HSBC, Hong Kong; CIMB –GK Securities Pte. Ltd; Merrill Lynch (Asia Pacific) Ltd; JP Morgan Securities (Thailand) Ltd; Morgan Stanley Asia Singapore; Saigon Securities Inc. (SSI); BaoViet Securities Company (BVSC); Dragon Capital; Tokio Marine Asset Management; Providential Holdings, Inc. ; York Capital Management, NY; Bridger Capital LLC, NY; Polunin Capital Partners Ltd, London; Metropol, Nga; MFC Global Investment Management; ABN-AMRO Asia Securities (Singa pore) Pte Ltd; Moody’ s Singapore Pte. Ltd; Mitani Sangyo Co. Ltd; Central Bank of Japan; Naissance Capital Ltd; Deutsche Asset Management, a member of the Deutsche Bank Group; Deutsche Bank Securities Asia Ltd; Credit Suise (Singapore) Ltd; Nomura Malaysia Sdn Bhd; Nomura Securities Singapore Pte. Ltd; Citigroup Global Markets Limited; Kim Eng Securities Pte. Ltd; Daiwa Securities SMBC Hong Kong Ltd; BankInvest Group; YUKI Management & Research Co. , Ltd; UOB Asset Management , a member of the United Overseas Bank Group; Our contact details in relation to Investor Relations are as follows: Mr. Tr? n Chi Son tel email Website : : : : Investment Director (84-8) 9300 358 (ext. 252) [email  protected] com. vn www. vinamilk.. com. vn 55 cOMMUNItY actIVItIeSIn line with our operation philosophy, Vinamilk always harmonizes between benefits and value for its shareholders and contribute to community activities for local people where we are operating our business. Vinamilk has been contributing by tens of VND billions per annum for these activities, which may be increasing on a yearly basis. 56 A n n u a l R e p o r t 2 0 0 7 Some of our typical community activities for the year 2006 and 2007 are as follows: In VND billion Donations for poor people and poor/street children 10. 7 Sponsors for scholarship fund namely â€Å"Cultivation for Vietnamese Young Talents†, â€Å"V? A Dinh† and other activities for children 9. 6 Donations for flooded provinces in the central of Vietnam 2 Our annual traditional sponsorship for two scholarship funds is â€Å"Cultivation for Vietnamese Young Talents† and â€Å"V?A Dinh†. The first was started since 2003 with the average annual sponsored amount between 1. 5 – 3 billion dong and the later was started since 2004 with the average annual sponsored amount between 0. 14 – 0. 20 billion dong. In addition, Vinamilk has been the sponsor to take care all the life for 20 Vietnamese hero mothers in Ben Tre and Quang Nam provinces since 1997 and now there are 13 mothers to be sponsored by Vinamilk to take care all their li