My Life as a College Student

GORDON KUSSI TABIRI English Writing: From Start to Finish My life as an understudy Seven years prior I picked up admission to seek after a B. A program in one of the renowned colleges in Ghana. The name of the college is Kwame Nkrumah University of Science and Technology (KNUST). I was offered a multi year four year college education program prompting a degree in Sociology and Social Work. Along these lines, I read BA Sociology and Social Work. I was so upbeat at the time in light of two reasons.One was that, I had attempted twice to be conceded into the nations colleges however declined until at long last the third time of which I succeeded. The second motivation behind why I was upbeat was identified with the way that I had the chance to proceed with my training to a level that I had consistently dream about. My first year as a fresher nearby was extremely fascinating for me. I was to understand social science and social work as a significant and Geography as my minor.I in this man ner enlisted for my courses for the principal year which included subjects, for example, prologue to humanism, customary social structure of Ghana, prologue to human topography, improvement of geographic idea, prologue to physical ecological frameworks, relational abilities, prologue to PCs, and morals and decorum in conventional frameworks. I read these subjects for the first and second semesters as my first year program. I went to all talks, composed my assignments and the years tests. The consequences of the tests came and I had a Cumulative Weighted Average (CWA) of 59. 17.I was so baffled about my outcomes and chose to improve reviews regardless of the stuff to do as such. I composed the second semester tests and enhanced my exhibition by getting a CWA of 60. 32. I understood the way that expanding the hours of my examinations yielded great outcomes. My second year nearby was exceptionally energizing. This was on the grounds that I made excellent companions and furthermore had familiar myself with grounds life when all is said in done. I had an old buddy by name Christian Boateng who happens to be an old schoolmate at Akrokerri College of Education where we both acquired our recognition in essential instruction in the year 2001.Christian was instrumental in my life nearby on the grounds that he showed me how to read for extended periods of time. We really took comparable courses together in the initial two years of our instruction in KNUST College. We were likewise flat mates for a long time and shared a great deal of things together. My subsequent year courses additionally remembered writing for English, prologue to geomorphology, hypothesis and practice of geology, standards of cartography, ideas and speculations in human science, social structure of present day Ghana just as the idea of social work. The courses were testing particularly those identified with geography.I had an effective year and furthermore enhanced my exhibition. This subsequent year was exceptionally huge to my life since it was during this period that I chose to peruse a master’s program after graduation. That year helped me understood a ton of my possibilities and furthermore changed my view of life when all is said in done. My third year in KNUST additionally observed me perusing courses, for example, points of view in sociological hypothesis, look into techniques, hypothetical structure for social work system, mechanical human science, clinical humanism, and furthermore bamboo and rattan processing.I delighted in perusing these courses particularly modern humanism, clinical humanism just as sociological hypothesis. During my third year, we were made to drop our minor course, so I focused distinctly on the significant which was humanism and social work and furthermore other obtained courses. I additionally figured out how to protect a similar room nearby with my companion, Christian. We both concentrated hard and had awesome evaluations in our third y ear tests. We additionally had a fabulous time nearby until school cleared. Christian was really situated in Kumasi which is the city in Ghana were KNUST was found while I was likewise based at Accra, the capital city of Ghana.In perspective on this, I burned through the greater part of my school occasions in Accra with my family. During the long get-away after the finish of the third year, I had a connection with Tetteh Quashie Memorial Hospital arranged at Akuapem Mampong. I was joined to the social government assistance branch of the clinic where I performed conventional social work. It was an incredible encounter since I had viable preparing in managing social government assistance instances of customers at the emergency clinic, area court and the region family social government assistance cases. My tutors trained me so well that when I completed my connection, I had built up an enthusiasm of functioning as a social laborer someday.After my connection, I arranged for my last yea r scholarly work. On showing up nearby for my last year, I enlisted for courses, for example, social brain science, social turn of events, human asset the executives, ways to deal with guiding in social work, ecological social science and a long exposition paper. I had really begun composing my BA postulation in the third year of my investigations. My theme was, â€Å"the job of non-formal instruction to the commitment of the social and monetary advancement of Ghana: a contextual analysis of the Ejisu-Juaben Municipality†.It was an extraordinary and provoking point to compose, in that there wasn't a lot of writing regarding the matter of non-formal training. Attributable to that, I explored the web broadly recorded as a hard copy this undertaking. My chief by name Mr. Barnie gave me all the bearings and backing so well that I acquired a great evaluation in this long article. I was extremely energized on the grounds that I was obliged by time in consolidating my scholarly work with composing of this theory. Disregarding all the difficulties, my difficult work paid off with me acquiring excellent evaluations in the entirety of my last courses I took.Thus, I finished all my forward year course tests and was prepared for graduation. We were to graduate precisely one month after culmination of all the essential course prerequisites. I was among one of the understudies who were to graduate with inferior upper (respects) degree in humanism and social work. During graduation, my uncle and a cousin of mine went with me, and it is a day that I will always remember in my life. I dressed flawlessly in my graduation outfit and experienced the function exceptionally upbeat of my achievements. After the service I took a few pictures with companions and my family and we hosted an extraordinary get-together after the occasion.I could always remember my experience nearby on the grounds that it changed my life. My general viewpoint of life has changed massively. I present ly comprehend that I have extraordinary capacities just as shortcomings. My school experience has contributed in forming my character today. I have figured out how to make a solid effort to conquer my shortcomings just as build up my possibilities and capacities. This is the explanation that I had set aside cash to seek after a master’s program in Switzerland to have the option to realize my fantasies and desires throughout everyday life.

The Reeves Rebuttal Essay Example For Students

The Reeves Rebuttal Essay The Reeves Rebuttal The Reeve of Geoffrey Chaucers The Canterbury Tales I depicted in the first as old and irascible and thin(605), peevish significance touchy and yellow. All of Chaucers depictions of the pioneers in his stories give a knowledge into and foretell the their story to come, and the Reeve is obviously no special case. His depiction keeps, depicting him with a traditionalist and resolve appearance, and one of wild position. Smart, computing, and merciless appear to summarize his character, an impressive persona in a debilitating body. What's more, when it comes his opportunity to tell his story, he is snappy t battle story to story with the Miller to humiliate him all the more in this way, being a woodworker himself and having the Millers story just so insultingly denouncing another craftsman. His portrayal is promptly evident, as his touchiness brings his story of a hapless and coldblooded mill operators rout so as to discredit the Miller. In the Reeves story, two researchers visit a cheat of a mill operator from the neighborhood college with corn to pound. These young men in the long run reverse the situation on the mill operator, and subsequently it is no little astonishment that the position these young men are in is like the Reeves vocation also. The young men, sharp and mindful, watch to ensure they wouldnt get cheated by the mill operator, so thus the mill operator lets free their pony, deferring their arrival home and letting the mill operator keep a cut of the corn. To reclaim whats theirs promotion have the last affront, one of the young men has his way with the mill operators little girl, and different his way with the spouse. In spite of the fact that dubious, this could be a smart supplementing of the reeves more youthful life. The story, however complete with a lesson of the fiendish getting their equitable prizes, is minimal more than kill at the genuine Miller, having him be beaten, deceived, and shamed by the more youthful Reeves variants. In the preface of The Canterbury Tales, the Reeve is a battered more established form of the young men later to come in his story. Chaucer keeps the teller of every story with a fundamental segment and impression of the story itself. The Reeve being grumpy yet shrewd, and old yet wealthy, utilizes his story to accept rank as a craftsman, and similarly upbraid the Miller who had attempted to criticize him. His beating isn't physical, however verbal, and the story is nothing if not an irritable counter coordinated at the Miller. .

10 Audiobooks for Podcast Listeners

10 Audiobooks for Podcast Listeners I wrote recently about the pros and cons of audiobooks vs. podcasts and what goes into the decision of how to spend my limited listening hours. As I get back into audiobooks after many months of podcasts only, Im realizing that Im drawn to a particular kind of audiobook: the kind that reminds me of a podcast. Theres a certain type of book that replicates some of what I like best about podcasts: its written in relatively self-contained chapters that I can listen to in short bursts. It contains a recognizable, original voice, often a humorous, entertaining one. Its chatty and topical, and it combines the personal and the social/political. It keeps me listening but without demanding intense and unceasing concentration. Now, there are many types of podcasts out there, and perhaps the kind you listen to isnt like the kind I listen to. But, still, it seems like certain kinds of memoirs and essay collections provide what some people look for in podcasts: entertainment, interesting voices and ideas, and a pleasant and productive way to spend time that otherwise might be devoted to spacing out. So if you are an avid podcast listener and want to give audiobooks a try, perhaps consider these. Bonus! Every one of these audiobooks is narrated by the author, so if you like to hear a writer reading their own work, you are in luck. Born a Crime: Stories From a South African Childhood, by Trevor Noah: Noah was born to a white father and a black mother in South Africa at a time when such relationships were punishable by prison. He describes this experience and much more in this collection of essays on growing up in a world where he wasnt supposed to exist. How To Be Black, by Baratunde Thurston: Like satire? If so, you will like this book, which contains chapters such as How to Be the Black Friend and How to Speak for All Black People. Its a funny and sharp look at race in America, and a great combination of memoir and cultural commentary. Im Judging You: The Do-Better Manual, by Luvvie Ajayi: Id call this book comedic self-help. Ajayi tells us exactly what she thinks about the world, other people, and herself, and how she thinks we can all do better. She covers silly topics and serious ones. She is always funny, and almost always right. I Was Told Thered Be Cake, by Sloane Crosley: Heres another collection of autobiographical essays that will make you laugh and wince a little bit in recognition. Crosley writes about her embarrassments and struggles with honesty and flair. The Misadventures of Awkward Black Girl, by Issa Rae: For all the introverted, awkward book nerds who read this site, this book is for you! Raes humorous essays explore what its like to be anxious and uncomfortable in a world that values coolness. Scrappy Little Nobody, by Anna Kendrick: Here youll find autobiographical essays that are funny and revealing, and that get you into the mind of a woman who started as a nobody and made it somewhere big. Shrill: Notes From a Loud Woman, by Lindy West: West is funny and moving both in this memoir/essay collection about her life in feminism. She writes about what being fat means in our culture, about women in comedy, about life for women on the internet, and more. Where Am I Now?: True Stories of Girlhood and Accidental Fame, by Mara Wilson:   Here youll find essays about Wilsons experiences as a child star and on through her adolescence and into her adulthood. Wilson’s writing is humorous and fun, as well as full of insight into what it means to be young and female. Year of Yes: How to Dance It Out, Stand in the Sun and Be Your Own Person, by Shonda Rhimes: Rhimes had been feeling dissatisfied and stuck and so she decided to spend one year saying yes to every opportunity that came her way. This book describes what happened when she faced her fears and met new challenges. It will make you laugh and leave you feeling inspired. You Cant Touch My Hair: And Other Things I Still Have to Explain, by Phoebe Robinson: This book wins as far as the title is concerned. And the rest of the book is excellent as well. Its an essay collection on race, gender, and culture, and it does an excellent job of being both very smart and serious and very funny. Sign up for Audiobooks to receive the latest from the audiobooks world. Thank you for signing up! Keep an eye on your inbox.

Atomic Weight Definition (Relative Atomic Mass)

Atomic weight is the average mass of atoms of an element, calculated using the relative abundance of isotopes in a naturally-occurring element. It is the weighted average of the masses of naturally-occurring isotopes. What Is It Based On? Prior to 1961, a unit of atomic weight was based on 1/16th (0.0625) of the weight of an oxygen atom. After this point, the standard was changed to be 1/12th the weight of a carbon-12 atom in its ground state. A carbon-12 atom is assigned 12 atomic mass units. The unit is dimensionless. More Commonly Known as Relative Atomic Mass Atomic mass is used interchangeably with atomic weight, although the two terms dont mean precisely the same thing. Another issue is that weight implies a force exerted in a gravitational field, which would be measured in units of force, like newtons. The term atomic weight has been in use since 1808, so most people dont really care about the issues, but to reduce confusion, atomic weight is more commonly known now as relative atomic mass. Abbreviation The usual abbreviation for atomic weight in texts and references is at wt or at. wt. Examples The atomic mass of carbon is 12.011The atomic mass of hydrogen is 1.0079.The atomic weight of boron samples collected on Earth falls within a range of 10.806 to 10.821. Synthetic Elements For synthetic elements, there is no natural isotope abundance. So, for these elements, the total nucleon count (sum of the number of protons and neutrons in the atomic nucleus) is usually cited in the place of the standard atomic weight. The value is given within brackets so that its understood its the nucleon count and not a natural value. Related Terms Atomic Mass - Atomic mass is the mass of an atom or other particle, expressed in unified atomic mass units (u). An atomic mass unit is defined as 1/12th the mass of a carbon-12 atom. Since the mass of electrons is much smaller than that of protons and neutrons, the atomic mass is nearly identical to the mass number. Atomic mass is denoted with the symbol ma. Relative Isotopic Mass - This is the ratio of the mass of a single atom to the mass of a unified atomic mass unit. This is synonymous with atomic mass. Standard Atomic Weight - This is the expected atomic weight or relative atomic mass of an element sample in the Earths crust and atmosphere. It is an average of relative isotope masses for an element from samples collected all over the Earth, so this value is subject to change as new element sources are discovered.  The standard atomic weight of an element is the value cited for atomic weight on the periodic table.

Nelson Mandela and His Search for Equality - 1765 Words

Mandela was one of the worlds most active and influential human activists of the 20th century. In his fight for equality Nelson Mandela fought through racism, imprisonment, and social inequality all in an effort for equal rights for African Americans in South Africa His efforts provided hope and pride for African Americans in South Africa that things could and would get better for them in the future. Mandela was far from perfect and had many issues he had to deal with publicly and personally. Mandela struggled with racism and social injustice throughout his life and seemed to just brush it off. Nelson Mandela overcame social inequality by breaking down the walls of politics for African Americans, being awarded the Nobel Prize for†¦show more content†¦Ã¢â‚¬Å" The men developed classes that they taught to the other prisoners on subjects such as economics, politics, and government.† ( Magoon 69). When Mandela was in prison with the younger prisoners, they would tell him of their anger and express it. Mandela was more restrained with his anger. Mandela touched them in an intellectual way and in a way that could persuade the prisoners not to use violence, but use their minds to find solutions. Mandela did lots of work to improve the rights of African Americans in South Africa and was a great influence to other activists like himself. Aside from the countless organizations Mandela was apart of, he also contributed to his society and community in other ways as well. â€Å" As a member of the African National Congress and Umkhonto we Sizwe, a militant organization he confounded, Mandela protested apartheid.† ( Magoon 101). Mandela spent most of his life trying to end the apartheid, but he was also peaceful and always overcame the disrespects and prison time he was sentenced. He became an important person, not just to South Af rica, but to the whole world. Nelson Mandela was determined to end the apartheid in South Africa and sought that he would make sure that it was ended. Mandela worked hard to reachShow MoreRelatedNelson Mandela: The Living Legend1089 Words   |  5 Pagesï » ¿Speech 101 5 November 2013 Informative Speech: Nelson Mandela: The Living Legend Specific Purpose: To inform my audience about Nelson Mandela and his achievement and positive impact on Africa and the world. Central Idea: Nelson Mandela’s struggle and achievement in South Africa and around the world. Introduction: Attention Getter: Take a moment and think this situation. You are young and ambitious. Your dream is to free your people and your country. You decided to protest anyway againstRead MoreComparing Martin Luther King and Nelson Mandela1041 Words   |  5 PagesMartin Luther King and Nelson Mandela. I. Martin Luther King Jr. and Nelson Mandela performed similar actions in their lives. A. In 1955, Martin Luther King, Jr., fought for the civil rights of the black population in America. B. Similarly, in South Africa, Nelson Mandela fought for the freedom of blacks from apartheid. II. Another similarity between King and Mandela is that they had the same beliefs. A. King firmly supported his nonviolence protest movement for the equality of blacks in AmericaRead MoreA Comparative Study of Nelson Mandela and Adolf Hitler Essay1160 Words   |  5 PagesA Comparative Study of Nelson Mandela and Adolf Hitler Adolf Hitler and Nelson Mandela are vastly different men, however in many ways through out their lives they both held a huge influence over their countrymen, the politics of their country and inevitably they both shaped the course of history for better or worse. Their fight, was not won without a struggle, but was helped by their masterful oratorical skills and the willingness of their followers to do anything forRead MoreA Comparative Study of Nelson Mandela and Adolf Hitler1502 Words   |  7 PagesAdolf Hitler and Nelson Mandela are vastly different men, however in many ways through out their lives they both held a huge influence over their countrymen, the politics of their country and inevitably they both shaped the course of history for better or worse. Their fight, was not won without a struggle, but was helped by their masterful oratorical skills and the willingness of their followers to do anything for the cause. Following the First World War Germanys economy began to fail, the GermanRead MoreNelson Mandela and the Fight Against Apartheid4689 Words   |  19 Pagesof Trials and Tribulations: Nelson Mandela’s Role in the Realization of Racial Equality and Freedom in South Africa Table of Contents Introduction†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..2 Chaos and Dissension in South Africa†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦...3 Mandela – The Charismatic Leader†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.5 Iconic Image of Integrity and Perseverance†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦...†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦6 Uniting the African National Congress†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦....†¦.9 Mandela Takes Reconciliatory Action†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Read MoreWhat Made Non Violence Work?1350 Words   |  6 Pagesheroes - Mohandas Gandhi, Martin Luther King Jr., and Nelson Mandela - with contagious optimism and high spirits, it became apparent just how much of a difference could be made carried out through non-violent terms. Mankind was introduced to another way to resolve major problems just as effectively, if not more, than violence could. Mohandas Gandhi was the first recorded individual to adopt a non-violent method based form for change. His primary objective was for people of all ethnicitiesRead More Socrates versus Nelson Mandela Essay1723 Words   |  7 PagesSocrates spent his life in constant pursuit of insight. He loved engaging in conversations that helped him derive philosophical views on a number of different issues. The birth of ideas through critical reasoning can be credited back to his method of teaching, which is now known as the Socratic Method. Although widely respected today, many of his teachings were found controversial in Athenian times. Socrates was placed on trial and put to death soon after because of the disapproval of his ideas. Read MoreWhat I Learned About Leadership From Nelson Mandela2278 Words   |  10 Pages â€Å"What I Learned about Leadership from Nelson Mandela†. Larissa Carter Administrative Leadership PA562 Instructor: John Nesbitt May 2, 2015 Number of Words w/o Footnotes: 2111 Spell/Grammar Checked: Y Number of Fnotes/Sources Citations: 34 Sources NumberRead MoreMandela Rivonia Trial1423 Words   |  6 Pagessum up in your own words what the speech is about. The speech is about communism. 4. What are the circumstances of the text? 5. Using examples (3-4) from the speech analyse the language. After being sentenced to life imprisonment in 1964, Nelson Mandela (1918 - 2013) became a worldwide symbol of heroic black resistance to the apartheid regime of South Africa. He joined the African National Congress in 1952 and became a member oTf a small action group whose main task was to launch Umkhonto weRead More Peter Tosh and Nelson Mandela Fighting from Opposite Corners4125 Words   |  17 PagesPeter Tosh and Nelson Mandela Fighting from Opposite Corners The Prize: Equal Rights Peter Tosh and Nelson Mandela are two men who dedicated their lives to fight for equal rights. They are united by common goals but walked on different paths in their struggles against the oppressors. The major commonality, which made both men brilliant leaders and revolutionary thinkers, was their passion. The passion they had for their beliefs and turning their visions into reality. Tosh and Mandela’s

Nvq Business and Admine Lv2 Unit 680 Free Essays

Improve Own Performance in a Business Environment CU681 1. 1 There are a number of guidelines and procedures in place to enable me to do my job not only to the best of my ability but in a professional manner. there are procedures that need to be followed relating to various aspects of the job including correct procedures to greet visitors, answer the telephone, dealing with incoming and outgoing mail, data protection, booking meeting rooms aswell as other procedures. We will write a custom essay sample on Nvq Business and Admine Lv2 Unit 680 or any similar topic only for you Order Now 1. 2 If we plan our work we can be more efficient. We have to set priorities in order to do most important things first. If we are accountable to others for our own work we are more responsible for the work we do. 1. 3 The purpose for agreeing realistic targets for work is to keep everyone on task and focused on accomplishing a target that is obtainable and not out of reach. By doing this everyone can contribute effectively and reach targets more efficiently. 1. 4 Agreeing realistic targets should be based on your abilty to complete work and also time should be tken into account. 1. 5 To plan work to meet agreed deadlines you should first priotise what is more important and less import and set aside more time fore the more important work. . 6 Keeping other people informed about the progress of your work is important so that others know tht deadlines will be kept, if you are behind on work others can step in to help so tht targets are met . 1. 7 Lettings other people know tht work plans have been changed is important because the changes made in your work may affect other peoples work, if they haven†™t been informed this could lead to confusions and ultiemtly missing targets. 1. 8 The types of problems that may occur during your work are: – computer crashing – work not getting saved – power cuts photocopier runs out of toner – photocopier runs out paper. include 1. 9 You should try to resolve problems yourself if you are not able to do this you should inform a work colleague and ask for assistance 1. 10 The purpose and benefits of recognising and learning from mistakes are that you learn to not make these mistakes again and also recognise a a mistake much easier and faster. 2. 1 It is extremely important as a member of staff to set high standards for yourself. Your Line Manager will see you as someone who challenges themselves and you will be recognised for the right reasons. . 2 It is important to set high standards for work because it will help you to do the best you can and help you get recognised at work in a positive way. When high standards a re set, it can always be a challenge and make you want to achieve it. 2. 3 It is important to take on new challenges and adapt to changes because nothing ever stays the same, things are always changing which means unless you can adapt and change too you will be stuck doing the same things which could then make your life a lot harder than it needs to be. . 4 It is important to take on new challenges and adapt to changes because nothing ever stays the same, things are always changing which means unless you can adapt and change too you will be stuck doing the same things which could then make your life a lot harder than it needs to be. 2. 5 There are many benefits to treating others with honesty, respect and consideration. The main one is that you will build an excellent working relationship with your colleagues which will lead to efficient work. Another benefit is for your own personal wellbeing as dishonesty, disrespect and a lack of consideration for others can be stressful leading to sickness in the workplace. 2. 6 One’s behaviour is vital to the workplace because every person plays an important role in the community. One person’s negative outlook can disrupt the progress of those around that person. The workplace can immediately become a hostile environment due to the action or attitude of a single person. 2. 7 Ideal types of behaviour that display honesty, respect, and consideration are listening to others’ ideas and providing thoughtful feedback, being sensitive to the needs of others, seeking a solution that will benefit all, cooperating with co-workers, treating others fairly and with dignity, among many others. Some negative behaviour are belittling co-workers, isolating oneself from the community, ignoring the opinions of others, having a selfish attitude, seeking for self advancement while disregarding the efforts of others, and spreading false information about others are other incorrect ways of conducting oneself. How to cite Nvq Business and Admine Lv2 Unit 680, Papers

Nucor Competitive Strategy Essay Example

Nucor Competitive Strategy Paper NUCOR COMPETITIVE STRATEGY ANALYSIS CONTENTS 1. Case Profile 2. Situational Analysis 2. 1General External Environment (PESTLE model) 2. 1. 1 Political/Legal 2. 1. 2 Economic 2. 1. 3 Sociocultural 2. 1. 4 Technological 2. 1. 5 Environmental 2. 1. 6 Demographic 2. 1. 7 Global 2. 1 Industry Analysis (Porter 5 Forces) 2. 2. 1 Threat of new entrants 2. 2. 2 Bargaining power of suppliers 2. 2. 3 Bargaining power of buyers 2. 2. 4 Threat of substitute products 2. 2. 5 Intensity of rivalry 2. 3 Competitive Environment Analysis 2. 3. Future objectives 2. 3. 2 Current strategy 2. 3. 3 Assumptions 2. 3. 4 Capabilities 3. Strategic Analysis 3. 1 Strategies 3. 1. 1Operational level 3. 1. 2Business level 3. 1. 3Competitive level 3. 1. 4 Corporate level 4. Core Competencies 4. 1Tangible resources 4. 2Intangible resources 4. 3Capabilities 5. Value Chain 6. Sustainable Competitive Advantage 7. Performance Appraisal 8. SWOT Analysis 8. 1 Strengths 8. 2 Weaknesses 8. 3 Opportunities 8. 4 Threats 9. Str ategy Formulation and Implementation 9. 1 New Initiatives to Sustain Growth APPENDIX 1: Top-30 producers by International Iron Steel Institute APPENDIX 2: Top Competitors Key Measures: NUCOR APPENDIX 3: FIVE-YEAR FINANCIAL REVIEW FOR NUCOR (2002-2006) Case Study Analysis: NUCOR 1. Case Profile Nucor Corp. , the U. S largest mini-mill operator1 and largest steel manufacturer by tons produced2, continues to lead the industry in efficiency, technological innovation, profitability and delivery of high quality products at low cost structure, after a record of more than 16 years of rapid growth in a declining industry3. And with a strong relationship with its workers without unionization, Nucor’s employees claimed to be the industry’s most satisfied, most motivated and most productive, making them a formidable workforce. This case considers how Nucor has achieved its success and how to sustain it. 2. Situational Analysis 2. 1. General External Environment (PESTLE model4) 2. 1. 1. Political/legal. The steel industry has seen rocky labour relations since the late 19th century with fatalities to striking workers4. Majority of workers are represented by the United Steel Workers of America. We will write a custom essay sample on Nucor Competitive Strategy specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Nucor Competitive Strategy specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Nucor Competitive Strategy specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Another issue is the integrated steel producers have filed charges against importers of dumping steel prices, blaming them especially Japan, for declining market shares. Nucor’s plant in Hertford County was located on the banks of a fishery that required restoration in a law passed in 1997. 2. 1. 2 Economic. Steel industry is a cyclical business, subject to economic fluctuations since it depended on durable and capital goods (car, building). The industry does well during economic expansion and suffers losses and even bankruptcies during economic downturn. . 1. 3. Sociocultural. The industry became a source of employment, symbolizes American economic power and pride during good times and symbolizes economic decline and source of shame when foreign companies took over market shares5. 2. 1. 4. Technological. Technology drives major changes in the production process to increase flexibility, efficiencies and allowed automation which include the continuous casting technology, blast oxygen furnace and electric arc furnace. 2. 1. 5. Environmental. Nucor’s mill in Crawfordsville, Indianna was alleged to have violated federal and state clean air rules and discharge of 6,720 tons of pollutants into the air each year by U. S. Environmental Protection Agency. 2. 1. 6. Demographic. Mini-mills which are located close to customer base has moved as population of U. S. moved to south and west. Demographic shifts affect the industry since construction utilizes a significant amount of steel. 2. 1. 7. Global. U. S. steel exports were negligible although it had grown to 3% to 5% by the 1990s6. The U. S. teel industry has benefited greatly from the Japanese mill from their large investments in U. S. joint venture projects, new technologies, high productivity and quality product7. Globalization will subject U. S. steel makers to vulnerable changes. 2. 2. Industry Analysis Porter’s Five Forces Analysis 2. 2. 1) Threat of new entrants. For mature integrated steel industry, threat is low due to economies of scale, high capital inje ction, cyclical nature of business and difficult access to supply and distribution; but slightly higher for mini-mill because of lower capital commitment and scale. . 2. 2) Bargaining power of suppliers. For integrated steel makers, they have effectively neutralized the suppliers’ bargaining power by backward integration (steel makers acquiring coal/coke mines and transportation facilities). For mini-mill, their reliability on scrap metal has given supplier moderate to high bargaining power. Higher cost of scrap metal due to limited supply has forced mini-mill to more costly materials like iron carbide. Nucor reduced the bargaining power of steel scrap supplier by backward integration. 8 2. 2. ) Bargaining power of buyers. It is weak to moderate since producers can threaten major distributors and wholesalers with forward integration (taking over direct distribution). But the large buyers (e. g. car makers) have more bargaining power. For example, the U. S. steel producers had to fulfill Japanese automakers’ quality and standards before they were allowed to supply the Japanese auto plants in the U. S. 9 2. 2. 4) Threat of substitute products. The threat is high in applications where strength is a not crucial concern but cost is (e. g. lastic, wood, synthetic materials, fiberglass); low for applications that require strength since substitute materials are just not strong enough10. Also, the many composition steel can be produced reduce the threat. 2. 2. 5) Intensity of rivalry. It is a highly competitive market with high exit barriers since assets are specialized, increase of mini-mill competitors taking on production of steel sheets and other steel products, stagnant demand, many global competitors, commodity-like products that minimizes switching costs and customer loyalty and excess capacity11. 2. 3. Competitive Environment Analysis Nucor has grown to become the largest steelmaker in the US by tonnage2. To have a sustainable market leader position, it must continue to compete for more market share from the large, integrated steelmakers. Although Nucor is the first mover in the mini-mill sector, it must also compete against second movers. 2. 3. 1) Future objectives. Nucor’s primary objective is â€Å"the production of high volumes of quality, low-cost steel. †12 It has an ambitious annual earnings growth of 10-15%. Nucor’s competitors would have the same objective, but unlikely the same high annual growth. Nucor’s competitors will be less risk-taking, giving Nucor a distinct advantage since a risk-aversive approach produces lower returns. 2. 3. 2) Current strategy. Nucor’s strategy is cost leadership. Even if there are changes in the competitive environment, this strategy is preferred since steel is a commodity-like product. While some mini-mill competitors follow a differentiation strategy, most follow a cost leadership strategy, though not very successfully. 2. 3. 3) Assumptions. It is a general assumption for all competitors that cyclical fluctuations are continuous. Nucor’s competitors often looked like operating under a status quo while Nucor has grown to produce sheet-fed steel and stainless steel in its mini-mills, a seemingly impossible task. 2. 3. 4) Capabilities. Nucor’s strengths include highest productivity, lowest cost structure and a high profitability (30 years of continuous profits)13 in the industry and excellent labour-management relations. Nucor’s weakness, comparing to its competitors, is more exposure to short-term losses and temporary setbacks resulting from risk-taking. The large integrated steel producers are comparatively strong in terms of size, established customer base and economies of scale. In terms of tonnage produced, Nucor ranked 8th globally with 20. 3 tons in 2006 (Appendix 1). Nucor could further strengthen its position as it is not far from the world’s 2nd largest steelmaker (Nippon Steel, Japan) of 34. 7 tons. ROE wise (Appendix 2), Nucor is much stronger than its competitors with 29. 38 as compared to Commercial Metals Co’s 22. 63 and U. S Steel’s 17. 79. ROA wise, Nucor is also much stronger than its competitors with 15. 6 as compared to 8. 33 and 7. 13. Nucor is more financially sound than its competitors with a current ratio of 2. 06 as compared to 1. 69 and 1. 59. 3. Strategic Analysis 3. 1 Strategies 3. 1. 1) Operational level. Nucor’s operational level strategy is core process re-engineering. This includes pre-heating the ladles allowing for faster flow of steel into the caster, continuous casters and a processes design that limit work-in-progress inventory, limit space and increase flexibility. . 1. 2) Business level. Nucor’s business level strategy is low cost leadership, keeping with its primary objective of the production of high volumes of quality, low-cost steel. 3. 1. 3) Competitive strategy. Nucor is the industry’s catalyst for technology innovation. It pioneered and took lead of the mini-mill concept, which later produce sheet steel and thin slab stainless steel. Also taking risk with a focus on lon g-term gains (versus short term risks). 3. 1. 4) Corporate level. To achieve its goal, Nucor diversify throughout the steel business. Nucor ventured into traditional bastions of integrated steelmakers (sheet steel, stainless steel), not constrained by the mini-mill format. Nucor has engaged in numerous upstream and downstream diversification. 4. Core Competencies Core competencies are special capabilities that are critical to a business achieving competitive edge. It is harmonizing of diverse production skills integrated with technological development. 19 4. 1) Tangible resources. Nucor’s tangible resources include strong financial resources with a proven ability to generate internal funds and a track profitability record that gives it enormous borrowing power. Organizational resources appear slim without formal planning, coordinating or controlling systems. Physical resources include 8 high-performing mini-mills strategically located to customer base and good access to raw materials with the company’s new iron carbide plant. Nucor has considerable technological resources, mainly involving process. 4. 2) Intangible resources. Many innovative ideas come from its human resources. Human resources include knowledge of the business know-how, motivation to perform and strong worker-management trust and co-operation. . 3) Capabilities. This includes the capability to produce high volumes of quality low-cost steel, innovative technology, continuous process refinement, continuous productivity improvement, motivated workforce, strong corporate culture. Employees are encouraged to take risk and a high tolerance for failure is given. Employees have a sense of ownership, exceedingly loyal and share a common goal of ensuring Nucor’s meets i ts primary objective. These give Nucor a competitive edge that is costly and difficult to imitate17. And the costly duplication suggests that the resource or capability is inelastic in supply, earning the firm who possess it an economic rent. 18 5. Value chain analysis i. Support Activities Firm InfrastructureWith no formal planning or formal mission, possess a strong culture Human Resource ManagementNot unionized, rewards risk-taking, high tolerance for failure, performance based bonus plans, encourage employee suggestions Technology Developmentcontinuous process refinement, continuous improvement, licensing/buying technology ProcurementUpstream diversification, process innovation i. Primary Activities Inbound LogisticsOperationsOutbound LogisticsMarketing SalesService cost focused, coordinated with operational needsEfficient, low cost, high productivity, meeting or exceeding quality requirements, continuous improvementafter-sale support 6. Sustainable Competitive Advantage Sustainable competitive advantage is derived from the trust-based working relationships along with a high to lerance for failure, would allow Nucor to take the risk needed to produce sustainable growth. The source of this trust is in Nucor’s distinctive human resources strategy, which is characterized by informality, ad hoc planning, pay for performance, and employee empowerment. 14 7. Performance Appraisal For the last five years, Nucor’s sales have increased over 240% from $4. 33 billion (2001) to $14. 75 billion (2006). Average sales price per ton has increased 88% from $354 (2001) to $667 (2006). Total tons sold to external customers have increased 81% from 12,237,000 tons (2001) to 22,118,000 tons (2006) (Appendix 3) (Figure 1). This rapid growth has been derived from acquisitions, optimizing existing operations and developing traditional greenfield projects using innovative technologies. Nucor achieved record sales and net earnings in 2006 for the 3rd consecutive year due to historically high selling prices, margins and shipments. Nucor was strengthened as North America’s most diversified steel producer. With this diverse product line, Nucor’s short-term performance which is not dependant on any single market has been able to maintain profitability every year and every quarter since 1966. (Figure 2). Figure 1: Nucor’s Average Sales Price Per Ton Total Tons Sold Figure 2: Nucor’s Diversified Product Mix 8. SWOT Analysis 8. 1. Strengths 1. Strong financial resources (profits, returns) 2. Industry leading low cost structure 3. Motivated workforce 4. Strong corporate culture 5. Innovation resources 6. Trust-based relationships 7. Technological expertise 8. Strong physical resources 9. Strategic management leadership style 8. 2. Weaknesses 1. Vulnerable to losses and setbacks from risk-taking 2. Lack of formal organizational systems may reduce efficiency 3. High tolerance for failure risks potential loss 4. Vague marketing structure or strategy 8. 3. Opportunities 1. Expand into additional specialty products 2. Downstream diversification 3. Directly produce steel from iron carbide, eliminating the need for electric furnaces. 4. Growth and innovation through joint venture projects 5. Maintaining market leadership position 6. Exporting 7. Soaring global steel prices15 8. 4. Threats 1. Substitute products 2. Second mover mini-mill competitors 3. Integrated steelmaker competitors 4. Economic downturn 5. Sub-prime crisis in property industry 6. Globalization with consolidating competitors 7. Global oversupply (China slowed down by December 2004 and became net exporter) 8. A new technology called Finex (by Posco in South Korea) Weaknesses and Threats- Nucor does not have serious weakness but only unused production capacity and a non-differentiated product. Serious threats from foreign competitors (e. g. Acelor Mittal) consolidating could affect Nucor’s growth. Such intense rivalry may also lead to price wars. Weaknesses and Opportunities- With soaring steel prices, expansion and vertical integration would give a better return. Strengths and Threats- Expanding its product line could mitigate the threats from foreign and local competitors, given soaring steel prices will give better return. Consolidate with other steelmakers would make Nucor a bigger player globally. Using its market dominance, Nucor could negotiate with the government for better regulations against the foreign competitors. With its financial and leadership resources, Nucor should secure more backward integration into scrap steel market. Joint venture with Posco (South Korean steelmaker) to leverage new technology. Strengths and Opportunities- Nucor has the financial, human and technological resources to penetrate new market, to expand product range, to compete in the stainless steel market and to joint with Japan to open new market in the Asian region. . Strategy Formulation Implementation Nucor’s current strategy is working. Its unique corporate culture and distinctive human resources strategy which produced a non-substitutable trust-based relationship, give Nucor a sustainable competitive advantage, contrasting the antagonistic relations in the steel industry. This trust enables Nucor to take risk which facilitates its growth. As an engineer from a major integrated mill said upon visiting a Nucor plant, that Nucor’s culture were such that everyone work hard and help each other, collectively survive and meet with success. But theirs is one of aggression, confrontation and lack of trust. 16 9. 1. New Initiatives to Sustain Growth Nucor should further leverage its sustainable competitive advantage by expanding more aggressively, taking the following steps: 1. To build an additional iron carbide plant to increase the availability of low-cost raw materials. 2. To carry out market research to ascertain: a) Expand product line and downstream steel business (e. g. steel for building, bridges, highways, roof decking, flooring); b)Export market; c) Competitors’ current strategies, weaknesses and strengths; d) Joint venture partners and projects ) Expand domestic markets f) Backward integration (e. g. scrap brokerages) 3. To develop strategic marketing program 4. Add an employee stock ownership program to further reinforce employees’ sense of ownership and loyalty. REFERENCES 1. http://www. bizjournals. com/charlotte/stories/2008/04/21/daily34. html 2. http://www. anbhf. org/laureates/keniversen. htm 3. Johnson, G. Scholes, K. (2005) Exploring Corporate Strategy: Text and Cases, Prentice Hall, London 4. http://en. wikipedia. org/wiki/U. S. _Steel_Recognition_Strike_of_1901 5. John H. Sheridan, 1996 â€Å"New Era – Or Breather? Industry Week, 5 February, pp 49 6. Brian K. Boyd Steve Gove, â€Å"Nucor Corp. And the U. S. Steel Industry,† In: Strategic Management: Competitiveness and Globalization by Michael A. Hitt, R, Duane Ireland, Robert E. Hoskisson (Cincinnati, OH: South-Western College Publishing, 2001), pp C479 7. Bryan Berry, (1996) â€Å"World Steel: Competing Strategies in Metallics, Melting, and Casting,† Iron Age New Steel, 12(4), April, pp 74. 8. Bryan Berry, (1996) â€Å"World Steel: Competing Strategies in Metallics, Melting, and Casting,† Iron Age New Steel, 12(4), April, pp 76. 9. Bryan Berry, (1996) â€Å"World Steel: Competing Strategies in Metallics, Melting, and Casting,† Iron Age New Steel, 12(4), April, pp 76. 10. Brian K. Boyd Steve Gove, â€Å"Nucor Corp. And the U. S. Steel Industry,† In: Strategic Management: Competitiveness and Globalization by Michael A. Hitt, R, Duane Ireland, Robert E. Hoskisson (Cincinnati, OH: South-Western College Publishing, 2001), p. C483 11. Brian K. Boyd Steve Gove, â€Å"Nucor Corp. And the U. S. Steel Industry,† In: Strategic Management: Competitiveness and Globalization by Michael A. Hitt, R, Duane Ireland, Robert E. Hoskisson (Cincinnati, OH: South-Western College Publishing, 2001), p. C480 12. Brian K. Boyd Steve Gove, â€Å"Nucor Corp. And the U. S. Steel Industry,† In: Strategic Management: Competitiveness and Globalization by Michael A. Hitt, R, Duane Ireland, Robert E. Hoskisson (Cincinnati, OH: South-Western College Publishing, 2001), p. C498 13. Brian K. Boyd Steve Gove, â€Å"Nucor Corp. And the U. S. Steel Industry,† In: Strategic Management: Competitiveness and Globalization by Michael A. Hitt, R, Duane Ireland, Robert E. Hoskisson (Cincinnati, OH: South-Western College Publishing, 2001), p. C477-C507 14. Ted Kuster (1995) â€Å"How Nucor Crawfordsville Works,† Iron Age New Steel, 11(12), December, pp 36-47 15. http://www. usatoday. com/money/autos/2004-10-13-steel-prices_x. htm http://www. taipeitimes. com/News/worldbiz/archives/2004/03/26/2003107844 16. Bryan Berry (1996) â€Å"The Importance of Nucor,† Iron Age New Steel, 12(7), July, pp 2. 17. Barney, J. B. (1997) Gaining and Sustaining Competitive Advantage, Wesley Publishing, Addison 18. McTaggart, D and Findlay, C and Parkin, M (2006) Economic, Wesley Publishing, Addison 19. Prahalad, C. K. and Hamel G (1990) The Core Competence of the Corporation, Harvard Business Review, Mar, 1979 APPENDIX 1: Top-30 producers by International Iron Steel Institute MtonSteelmaker 1117. 2ArcelorMittal (Global) 234. 7Nippon Steel (Japan) 332. 0JFE (Japan) 430. 1POSCO (South Korea) 528. 2Tata Steel (India) Including Corus Group 622. 5Shanghai Baosteel Group Corporation (China) 721. 2United States Steel Corporation (United States) 820. 3Nucor Corporation (United States) 919. 1Tangshan (China) 1018. 2Gruppo Riva (Italy) 1117. 5Severstal (Russia) 1216. 8ThyssenKrupp (Germany) 1316. 1EvrazHolding (Russia) 1415. 6Gerdau (Brazil) 1515. 3Anshan (China) 1614. 6Shagang Group (China) 1714. 6Steel Authority of India Limited (India) 813. 8Wuhan Iron and Steel (China) 1913. 6Sumitomo Metal Industries (Japan) 2012. 8Techint (Argentina) 2112. 5Magnitogorsk Iron and Steel Works (Russia) 2211. 5Jinan (China) 2310. 9Magang Group (China) 2410. 8Laiwu Steel (China) 2510. 7China Steel (Taiwan) 2610. 5Shougang (China) 279. 9Valin Steel Group (China) 289. 8Imidro (Iran) 299. 5Industrial Union of Donbas (Ukraine) 309. 1Novolipetsk (Russia) Source: http://en. wikipedia. org/wiki/List_of_steel_producers This is a list of the largest steel-producing companies in the world according to the International Iron and Steel Institute. The list is compiled from its page Top Steel Producers 2006, but updated below from other sources. (Output in million metric tons crude steel; the country/region of producers basing specified in brackets) Total world steel output in 2005: 1,131. 8 million metric tons (mmt) Total world steel output in 2006: 1,239. 5 million metric tons (mmt) APPENDIX 2: NUCOR’S TOP COMPETITORS KEY MEASURES NUCORCOMERCIAL METALS CO U. S. STEEL— VALUATION PRICE/EARNINGS (TTM)11. 9910. 5616. 34— PRICE/CASH FLOW9. 9610. 7617. 40— PRICE/SALES (TTM)1. 060. 430. 85— PRICE/BOOK3. 672. 222. 59— PER SHARE DATA LAST DIVIDEND36. 4719. 512. 71— BOOK VALUE18. 7714. 2948. 33— EPS (TTM)5. 092. 277. 08— REVENUE16. 59 B8. 32 B16. 87 B— PROFITABILITY EBIDTA3. 02 B684. 52 M1. 72 B— OPERATING MARGIN15. 38%6. 93%6. 79%— PROFIT MARGIN8. 87%4. 27%5. 21%— GROSS PROFIT MARGIN18. 86%13. 94%10. 28%— DIVIDEND DIVIDEND YIELD2. 77%1. 2 6%0. 55%— PAYOUT RATIO36. 4719. 6512. 71— ANNUAL DIVIDEND (TTM)176. 5 M——— DIVIDEND YIELD 5 YEAR AVERAGE3. 17%0. 90%0. 66%— GROWTH NET INCOME1. 47 B355. 43 M879 M— EPS (TTM)5. 09%2. 27%7. 08%— REVENUE16. 59 B8. 32 B16. 87 B— PEG1. 24%1. 58%0. 71%— FINANCIAL STRENGTH QUICK RATIO (MRQ)8. 874. 275. 21— CURRENT RATIO (MRQ)2. 61. 691. 59— LT DEBT TO EQUITY RATIO (MRQ)45. 9239. 0854. 38— TOTAL DEBT TO CAPITAL (MRQ)29. 6231. 4437. 07— ROE29. 3822. 6317. 79— ROA15. 608. 337. 13— ROIC (RETURN ON INVESTED CAPITAL)22. 0419. 0213. 41— ASSETS ASSET TURNOVER1. 692. 401. 08— ASSET PER EMPLOYEE545,895. 66667272,793. 63708557,714. 28571— INVENTORY TURNOVER9. 518. 637. 54 SOURCE: HTTP://FINANCE. AOL. COM/COMPANY/NUCOR-CORPORATION/NUE/NYS/TOP-COMPETITORS APPENDIX 3: FIVE-YEAR FINANCIAL REVIEW FOR NUCOR (2002-2006) FOR THE YEAR20062005200420032002 Net sales14,751,27012,70 0,99911,376,8286,265,8234,801,777 Costs, expenses and other: Cost of products sold11,284,60610,108,8059,174,6115,993,4924,335,409 Marketing, administrative and other expenses592,473459,460374,730165,369175,589 Interest (income) expense, net(37,365 4,20122,35224,62714,286 Minority interests219,121110,65080,84023,90479,408 Other income— (9,200 (1,596 (11,547 (29,900 12,058,83510,673,9169,650,9376,195,8454,574,792 Earnings before income taxes2,692,4352,027,0831,725,89169,978226,985 Provision for income taxes935,653709,834607,9065,18166,899 Net earnings1,756,7821,317,2491,117,98564,797160,086 Net earnings per share: Basic (1)5. 734. 193. 530. 210. 51 Diluted (1)5. 684. 153. 00. 210. 51 Dividends declared per share (1)2. 150. 930. 240. 200. 19 Percentage of net earnings to net sales11. 9 10. 4 9. 8 1. 0 3. 3 Return on average equity38. 3 33. 8 38. 2 2. 7 7. 0 Capital expenditures338,404331,466285,925215,408243,598 Depreciation363,936375,054383,305364,112307,101 Sales per employee1,2731,1591,107637528 AT YEAR END Current assets4,683,0654,081, 6113,182,1321,639,7841,429,305 Current liabilities1,421,9171,228,6181,042,776615,067573,697 Working capital3,261,1482,852,9932,139,3561,024,717855,608 Cash provided by operating activities2,251,2332,136,6151,024,756493,801497,220 Current ratio3. 3. 33. 12. 72. 5 Property, plant and equipment, net2,856,4152,855,7172,818,3072,817,1352,932,058 Total assets7,893,0187,148,8456,140,3914,511,5774,394,944 Long-term debt922,300923,550923,550903,550894,550 Percentage of debt to capital15. 3 17. 0 20. 2 26. 1 25. 8 Stockholders’ equity4,857,3514,312,0493,481,2812,370,8732,349,770 Per share16. 1413. 9010. 917. 547. 51 Shares outstanding300,949310,220319,024314,361312,720 Employees11,90011,30010,6009,9009,800 Source: http://www. secinfo. com/d14D5a. u7c82. c. htm#1stPage