Choosing the Right Resource

Choosing the Right ResourceIn my own experience, the best resources for AP English essays and AP American Literature essays are the ones that don't use AP English essay samples. Even though this may be true for most AP courses, not all of them. That's where one of the many resources I discovered, which I've used with great success, comes in.When I first heard about sample essays for AP English, I assumed that most of the sources I had been reading and seeing were academic textbooks. They typically featured classroom works, or the professor's notes from a lecture. I wasn't sure if I would like them, and what I found was surprising. By researching online, I came across many free resources that offered sample essays for students to choose from.To my surprise, I found that these resource writers didn't offer sample essays for AP English. What they did provide, however, were sample essays in the different subject areas for the AP course. This meant that I had the option of choosing the to pics I wanted to cover, and then I could start writing my own personal essay.Now, that I had a lot of free essay examples, I was able to look at what I really liked about them. Some of the resources allowed me to choose the essay topics that I really liked, such as history, history of art, or literature. While some provided sample essays on math, science, or other topics that I enjoyed, like history. I quickly realized that they were offering more than just sample essays.The guides would offer me the option to add my own CD-ROM containing computer-written essays and transcripts. The CD-ROM was even a real tutor guide to help me remember more interesting facts, and to expand my knowledge.One of the guides I got was written by Joseph Levy, an associate professor of English at Fordham University, who is known for his work on William Shakespeare. Joseph Leibman's guide is very informative and has many sample essays covering several different subject areas.One of the greatest things abou t the resources I found was that I was able to learn more about AP English Literature from the beginning of my class with the book, 'The New Concept of Learning: How to Improve Your Scores,' by Craig Kaufman, Patrick Batchelder, and Joseph Leibman. I was able to learn much about AP English from the beginning of my class, and I was able to use the material as I went through my own essay.

Axiom Telecommunications Analysis

Introduction Axiom telecommunications was founded in 2003 when the management team found a niche in the corporate world and set out to establish a mobile solutions provider that specifically targeted the corporate world.Advertising We will write a custom report sample on Axiom Telecommunications Analysis specifically for you for only $16.05 $11/page Learn More Axiom Telecommunications is still a budding company that is yet to operate at multinational level and presently it is located in Dubai (Axiom 2011). For the purposes of this paper, I ordered for some merchandise and kept active contact with the company until delivery was made to the customer in Kuwait City, the capital city of Kuwait. That was a shipment of 24 Sony Erickson mobile phones to a client in Kuwait City. The order was made on 23 April 2013 and it was delivered by 8 May 2013 to Kuwait, which was an impressive consignation of goods and services and it beats doing business purely online. I was impressed by the speed and efficiency by which my order was delivered. The company, as noted above, deals with electronic merchandise, and specifically those that hail from the telecommunications industry, viz. mobile phones, cable phones, projectors, computers, and fibre optics among others. In addition to all these, the company has a very neat organisational structure that is fitted with all the relevant departments including human resources, executive management, board of directors, and most importantly, it has a customer care unit. The customer care unit is in charge of handling the company’s interactions with the public and it consists of a team of up to 20 intelligent professional customer care agents. In fact, currently it is the hiring season and the company just posted several vacant positions online on its website.Advertising Looking for report on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More The mo st important aspects of customer satisfaction entail quality, money, issue factors, accommodation and cooperation, and on–time deliveries (Morgeson et al. 2011). Axiom Telecommunications has most of these variables balanced at an optimal level to keep customers happy. The money factor comes in when there are changes to the pricing or billing of delivery. Usually, if customers are not informed beforehand, it could lead to complaints and so with Axiom, the company has a policy of absorbing financial changes that arise after the completion of the original contract with the customer. Of course, this requirement becomes relevant where there is a vitiating mistake or if the change favours the customer and requires the company to refund money. The issue of accommodation occurs when customers need the company’s indulgence, for instance to delay a delivery. Axiom tries to accommodate such customers without charging extra fees for storage or any such collateral as ma be negligib le. The quality of goods from Axiom as indicated by the aforementioned consignment is above average and this aspect must be the case for the rest of its goods and services as well for the company receives only positive reviews from peer reviewed software marketing journals. Additionally, its annual growth is far from studded and this element must have something to do with the good quality of its products and services. Measures taken by the company to satisfy customers and a comprehensive Comparison of findings with literature From personal experience, the customer care unit at Axiom is a very dedicated team. There is a 24-hour toll free line by which an agent may be reached anytime from anywhere across the world, in case there is any issue that requires technical support.Advertising We will write a custom report sample on Axiom Telecommunications Analysis specifically for you for only $16.05 $11/page Learn More However, before lodging any complaints wit h the customer care team, a customer has access to various basic tasks at the company’s website. Consequently, one can easily browse through the company products and services from the site and then proceed to select what is of one’s choice. After such a selection, there are very simple steps to follow to make a purchase and at this point customers may need a customer care agent to allay any concerns regarding the safety of the company’s e-commerce options. If the online process is smooth, the customer care department shall respond by email or by call depending on the method of feedback preferred by the customer. In this follow up call, the customer care agent goes through the details of the order with emphasis on the specifications required by the customer such as wattage or capacity of memory cards. He or she also confirms the price and channels of delivery (Axiom 2011). Finally, a last call or email follows the intended delivery date to ensure that the product got to the intended recipient. From the process outlined above, it is clear that there is an integrated system of management at Axiom. This element requires cooperation and coordination among the various departments such as sales and marketing and at times even the legal department for some customers, who are dissatisfied with the products or services proffered, may at times take legal action against the company. How the company measures customer satisfaction Axiom Telecommunications uses the age-old Customer Satisfaction Ratings (CSR) method to analyse the rate of customer gratification. These ratings are obtained from a Customer Satisfaction Survey (CSS), which is carried out by administering surveys (Grigoroudis Siskos 2010).Advertising Looking for report on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More These surveys may or may not be structured. Customers are required to fill up their responses on basic deductive questions on how they found the services and products offered by Axiom and what they would like to see improved. These surveys are handed out manually at points of sale (POS) or at times virtually when a customer goes online to view the company profile in the form of pop up windows. Additionally, the customer care agents have questionnaires with them and each time a customers calls, s/he is asked a few questions and his or her responses are recorded. Literature review indicates the limitation of these surveys. Naomi Karten, an expert on customer satisfaction indicates that a customer is likely to respond differently to different customer care agents depending on their likability (Karten 2010). This assertion implies that a customer could give responses that indicate his or her judgment of the agent rather than that of the company and thus this method is not very reliable. However, in a bid to defeat this error, Axiom has randomised and impersonal surveys as well, which can be responded to without the bias of having actually encountered an agent. The limitation is a real problem as even the customer care agents themselves report that some customers are very impressed with them as individuals, to the extent of even seeking for meetings beyond the business threshold. The danger in the manifestation of this limitation is the effect of the customer feedback. Considering that the response may be an emotional one, where the customer rates certain personnel as poor, such a person is likely to pay the price of these negative sentiments by either getting low hikes (salary raises) or even being demoted (McDougall Levesque 2000). This move is de-motivating to such an individual who may actually have done a very good job, but for the customer’s particularly unpleasant disposition. The reverse is also true and the possibility of the cumulative effect, nam ely – â€Å"rewarding the under-performers and punishing the better performers† (Chemuturi 2010, p. 2). This aspect is not a desirable reputation for an organisation to hold as it is reflected in the employee turn-over ratio. What measures they take to retain their customers -Comparison of findings with literature In the quest to retain customers, the Axiom Telecommunications Ltd. keeps all its customers in the company database. This way, the company frequently sends white papers on new technologies and events or symposia organised by the company or events to be attended by the company that could prove interesting to customers. If customers are not willing to receive these updates, there is an option for unsubscribing or redirecting them to another email address. Additionally, the company has a customer care day annually during which it organises an open house for customers to attend and get to know their service providers better. A witty trick used by Axiom telecommun ications for retention is sending holiday and birthday greetings to its customers regularly. This move is interesting for it has received the largest positive feedback from impressed customers who got a birthday wish from their electronics supplier or retailer. The company also uses the social network to keep its customers looped. It has a Facebook page, a Twitter page, and even a LinkedIn page. Customers are in a position to see new products online almost daily as they are busy browsing through their social network pages and this keeps business booming for Axiom. Finally, the annual customer care day is married to the annual cocktail party where the company sells itself to those in attendance. On this day, a corporate social responsibility act is done to put the customers’ minds at ease about the company’s integrity and only the company and its workers dirt their hands as customers and other shareholders enjoy in the festivities. If the company empowers its employees (in relation to customer services) Axiom Telecommunications Company has employee training opportunities that work on a rotational schedule, with employees going for training sessions as per departments. Each year, each employee gets the opportunity to attend at least three training classes where they are enlightened on any changes that may have hit the market since they left college and they are directed on how to apply such changes for the benefit and growth of the company (Axiom 2011). The training sessions are held in local resorts and the with the employee’s expenses throughout the session are catered for by the company. Additionally, the employee is not penalised financially for the period of absenteeism from work as upon the beginning of a training session they are given a paid leave. There are also benchmarking activities that are organised among local competitors in which employees enter into an exchange program with employees from rival firms and in the period of eng agement with the other firm, they continue to enjoy their privileges as if they were working in their own offices. Additionally, the chances of landing promotions are higher for employees that attend these training and benchmarking events for they are not compulsory either. What type of employees it empowers – Comparison of findings with literature The training opportunities are open to all as opposed to the trend in some organisations that only train newly recruited employees. This move is a smart one on the part of Axiom as it means that even the seasoned employees who have made it to as far as becoming CEOs or COOs are not locked out of learning new things. The advantage in this practice is that the company is constantly alert and up to date with global happenings, which makes a versatile team that can tackle any issue that it is confronted with confidently (Hernon Whitman 2001). Additionally, such a practice makes the team very resourceful and so in case a customer calls the company offices with a unique and new issue, there shall always be someone with the knowledge to handle the issue. How the company deals with difficult / angry customers – Comparison of findings with literature Since its incorporation a decade ago, Axiom has not been involved in any legal scandal in which a customer sued it either for breach of contract or negligence. The company has a remarkable record. However, every now and then there is the occasional dissatisfied customer who causes a scene or makes a disturbing call. In these cases, the Customer Care Unit director states that he simply advices his team to deal with such matters delicately. He states that if the issue can be easily rectified, the agent should be as polite and cordial as possible while another team member goes on with rectifying the mess. As aforementioned, the company has a twenty-four hour toll free service for customers to call whenever they encounter a challenge that the company can set right. An agent always answers any call made through this number and it is available on the company’s website and brochures and pamphlets as well as wrapping papers issued by the company. When an irate customer calls, the conventional policy is that the agent is to identify the problem and then decide on how to proceed (Fornell, Mithas Krishnan 2005). Some issues are referred to the executive directors where the agent lacks the capacity to help and some are referred to the legal department where a customer threatens to take a legal action. The legal department then analyses the situation and promptly prepares a memorandum advising the board of directors (the board is aware that it can convene any time in case of an emergency). This requirement is another company policy is the preference for settling matters out of court, and this move is advised by the avoidance of negative publicity, which often arises from public trials. The systematic procedure of dealing with an irate customer as provided for in various customer satisfaction guidelines includes first listening to the customer before speaking, then apologising and empathising with such a customer to get them to calm down (Hernon Whitman 2001). Afterwards, the agent may try to clarify the matter to the customer, or take down notes to be clear on what the customer’s complaint is and probably come up with the best solution to the complaint. This duty should be executed in a positive tone of voice and immediate action should be taken to ensure that the customer’s needs are met. With tougher or more complex cases, follow up may be necessary and if so, then it should be prompt and forthcoming. How the company utilises e-marketing / e-commerce, or any other technology used to aid marketing efforts and the advantages and disadvantages – Comparison of findings with literature Axiom telecommunications is a software as well as hardware provider of electronics. As such, it is directly affected by t he globalisation trend that has seen the virtualisation of almost every other task. This company is not willing to be left behind in terms of achieving technology or Internet astuteness. The company states that when it acquires any new technology, it keeps the best for itself and uses it for a spell before introducing the same to it catalogue. This element may as well be the reason why the quality of its products is appreciated (Axiom 2011). With the revolution of e- commerce, business firms and companies like Axiom are constantly finding themselves in minefields especially concerning price fluctuations. The market tends to change faster than the product and so some products barely hit the shelf before running out of stock. The old rules of the game remain the same and so it may not be as easy to change the product, as it may be to change the price. This aspect is the downfall of most companies that utilise e-commerce for they seem to be taking advantage of customers’ despera tion. At Axiom, regardless of market shifts, the management team strives to keep the prices at a minimum with just enough extra to make a sound, but constant profit. The effect of this strategy is that a company’s appeal is heightened. As other companies triple or even quadruple their prices when the demand is inversely proportional to the quantity, Axiom prices are known throughout Dubai to be the most constant. Another new phenomenon with e-commerce involves the rules, which include the fact that there is a paradigm shift of power from the seller to the buyer (Chaffey 2004). With e-commerce, the buyer’s attention is a commodity that is almost as rare as gold and so sellers seek to attract it in any possible way, and sometimes sellers may get overzealous and get unethical by misrepresenting or false advertising. Axiom avoids these hurdles by posting only the barest of specificities for the products is markets on eBay. It also prevents customers from looking away by of fering various attractive incentives such as warranties and gift packs. The nature of demand has also changed with e-commerce for customers are now looking for different things when they go shopping online. They want speed and self-service menus that are easy to navigate, they want a guarantee of their privacy for as long as they are online, and they want the service to be convenient. This aspect means that they want to be in a position to make contact with the company when they click on the ‘contact’ icon on the organisation’s website as opposed to being redirected to other commands before being granted access (McFadyen 2008). Axiom is able to provide for all these demands. When customers purchase new products online, they have several payment options ranging from Moneybookers to PayPal and visa cards. The site is secure and it does not even store the credit card information on the internal database, which prevents chances of hacking into the company database an d accessing millions of customers’ confidential information. The management at Axiom states that it does not plan to become the next Sony in terms of Cyber warfare scandals. E-commerce presently accounts for 25 per cent of the sales of Axiom, and this percentage keeps growing by the day. Conclusion This paper was a brief discussion of crucial customer care information that comes in hand when running a company or a business. The paper’s vignette or case study was Axiom Telecommunications Company, which is a software product and service provider based in Dubai and one that targets the corporate world. The company has a working Customer Care Unit that cooperates and coordinates its performance with the other departments in the company, such as sales and marketing and legal department and it uses the customer Satisfaction Ratings questionnaires to measure customer satisfaction. The company also has in-house training sessions organised for all employees although it is not m andatory for one to attend these sessions. Employees have higher chances of being promoted after attending the company’s training and benchmarking activities. Finally, the company has launched an e-commerce department that is responsible for its online branch. It has set in place adequate measures to protect customers’ confidential information by not saving the same to the local database. Axiom is a potentially productive and successful company by the estimation of the information provided in this paper. Reference List Axiom: Bravenewtalent 2011. Web. Chaffey, D 2004, E-Business and E-Commerce, Prentice Hall, Upper Saddle River, NJ. Chemuturi, M 2010, ‘How to Measure Customer Satisfaction’, Newsletter of Technology Evaluation Centres, vol. 4 no. 1, pp.1-8. Fornell, C, Mithas, S Krishnan, M 2005, ‘Why do customer relationship management applications affect customer satisfaction’, Journal of Marketing, vol. 69 no. 4, pp.201-209. Grigoroudis, E Siskos, Y 2010, Customer Satisfaction Evaluation: Methods for Measuring and Implementing Service Quality, Springer, New York. Hernon, P Whitman, J 2001, Delivering satisfaction and service quality: A Customer-based Approach for Libraries, American Library Association, Chicago. Karten, N 2010, Tales of Whoa and the psychology of customer satisfaction, Oxford University Press, London. McDougall, G Levesque, T 2000, ‘Customer satisfaction with services: putting perceived value into the equation’, Journal of Services Marketing, vol.14 no.5, pp. 392-410. McFadyen, T 2008, eCommerce Best Practices – How to market, sell, and service customers with internet technologies, McFadyen Solutions, Vienna. Morgeson, F, Mithas, Keiningham, T Aksoy, L 2011 ‘An Investigation of the Cross-National Determinants of Customer Satisfaction’, Journal of the Academy of Marketing Sciences, vol. 29 no. 2, pp.198-215. This report on Axiom Telecommunications Analysis was written and submitted by user Rene K. to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Die or Dye - Commonly Confused Words

Die or Dye - Commonly Confused Words The words die and dye  are  homophones: they sound alike but have different meanings. Dye or Die? The noun die refers to a small cube used for games (plural, dice) or to a tool used for stamping or cutting objects (plural, dies). The verb die means to stop living, to stop functioning, to end. The past tense of die is died. Dying concerns the end of life. The noun dye refers to any substance used to give color to hair, a fabric, and so on  (plural, dyes). The verb dye means to apply dye or to color something. The past tense of dye is dyed. Dyeing concerns the application of a coloring agent. Examples The gambler picked up the die and threw a six.The coins were stamped with a die that produced a square or circular hollow.At the graveside Snowball  made a little speech, emphasizing the need for all animals to be ready to die for Animal Farm if need be.(George Orwell, Animal Farm, 1945)He had  prayed that Rudy Mohn, whom he had purposely tripped so he cracked his head on their radiator, not die, and he had not died. But for all the blood, it was just a cut; Rudy came back the same day, wearing a bandage and repeating the same teasing words.(John Updike, Pigeon Feathers.  Pigeon Feathers and Other Stories.  Knopf, 1962)A yellow dye called gamboge is used to color the robes of Buddhist monks.Liz wanted to visit Chicago on St. Patricks Day to see them dye the river green.Besides human tormentors, Bessie  suffered from demons, imps, Evil Powers. She hid her eyeglasses in the night table and found them in a slipper. She placed  her bottle of hair dye in the medicine chest; da ys later she discovered it under the pillow.(Isaac Bashevis Singer, The Key. A Friend of Kafka. Farrar, Straus and Giroux, 1970) Idiom Alerts Die Is CastThe expression the die is cast means that a decision has been made or an action has been taken that cant be changed.Editing may be a form of revision, but it is revision made before  the die is cast- before the letter mailed, the poem published, or the final draft surrendered to the printer. Revision, in the sense in which I must now use the term, is a second look, literally a re-vision, an opportunity to recollect, observe and comment upon an enterprise once considered completed.(Frank Smith,  Writing and the Writer, 2nd ed.  Lawrence Erlbaum, 1994)Never Say DieThe proverb Never say die means never quit or give up.Luis attributes his never-say-die  attitude to his grandmother, who raised him by herself.Dyed-in-the-WoolThe idiom dyed-in-the-wool refers to something (such as a belief, attitude, or habit) thats strongly held, deeply ingrained, or firmly established.If youre a true environmentalist, a dyed-in-the-wool greenie, then why not pack up your leafy rural hom e and move to New York City- preferably to a tall building right in the middle of Manhattan? The Big Apple is home to the greenest citizens in the U.S.(The Global Warming Survival Guide. Time, March 30, 2007) Exercises With Die and Dye (a) Bessie had long since made peace  with death, but to _____  on the steps or in the streets was too harsh.(Isaac Bashevis Singer, The Key.  A Friend of Kafka. Farrar, Straus and  Giroux, 1970)(b) Marie liked to _____ her short hair with exotic colors.(c) At the request of the dying fortune-teller, Lydia placed the worn _____ in a small silver box. Answers to Practice Exercises (a) Bessie had long since made peace  with death, but to die on the steps or in the streets was too harsh.(b) Marie liked to dye her short hair with exotic colors.(c) At the request of the dying fortune-teller, Lydia placed the worn die in a small silver box.

Aspects of Alzheimers Essay Example | Topics and Well Written Essays - 250 words

Aspects of Alzheimers - Essay Example According to the essay the other aspect is the issue of stress management; where one is required to balance their blood pressure due to the relationship between Alzheimer’s and high blood pressure. This is because; the stress hormone, cortisol conducts extensive damage in the memory cells of the brain. In this light, as one ages or develops illnesses, the body loses the natural ability to regulate cortisol levels in the blood. Therefore, it is crucial to learn how to balance stress to avoid memory loss and improve retention.This paper outlines that  regular exercise is vital to the prevention as in nursing, one is always busy tending to the needs of patients to the extent there is little time for oneself. This is terms of mental and physical exercise; where one should exercise twenty minutes daily to keep the brain active. All these, in the nursing profession, require an almost total overhaul on one’s lifestyle to keep up with a healthy body and avoid the risk of cont racting Alzheimer’s due to inactivity and poor diet this is all under the guise of a busy schedule and a demanding profession. The most interesting facts about Alzheimer’s in my opinion lie in the prevention of the said condition. This is because; prevention of the condition is based on a few tweaks to one’s lifestyle in order to keep the likelihood of the condition from occurring and living healthy.  Such tweaks in the lifestyle include maintaining a healthy diet as it influences one’s memory.     Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  

Nazism and Free Speech Essay Example | Topics and Well Written Essays - 750 words

Nazism and Free Speech - Essay Example The challenges that each posed to the other would be analysed in this paper. Nazism as a form of government and political ideology is detrimental to the flourishing of free speech. This can be seen in the suppression of the power of the press in a country that is under the Nazi regime. The importance of the press in shaping public opinion and rallying the dissent of a nation is well known and the suppression of freedom in this area hits at the very roots of the principles of free speech in a nation. John A. Hess’s article on Nazism and free speech, written while the Nazi regime was still in power in Germany, talks about the different views that were prevalent regarding the success of Nazism and the freedom that the press in different countries enjoyed. The article points on how commentators in Germany talked of the freedom of press in relative terms. According to them, countries like England and France do not provide their press with freedom. The reason that is advanced for th is is that the press in these countries, in order to survive, is excessively dependent upon the opinion of the people. The commentator who is referred to in the article points out how the sales of the newspapers in these countries dipped when matters that were not of immediate interest to the people were not published. This is, however, a weak argument as the news that is of importance to the people is what ought to be published in any democracy. In this case, it is the people who have the rights to decide which piece of news is worthy of publication and which one is not. Thus, the supreme authority rests with the people and not with the state functionaries. This is not the case in a Nazi state where the members of the ruling party have the power to be autocratic in deciding the topics that are to be dealt with by the press. This authority of the state subverts the very fundamentals of the idea of the freedom of the press. Hess later in his article points out how the people in democ ratic countries like America had the right to question the state in which they found the press, a right that was not available to people who were a part of countries ruled by the Nazi regimes. This argument again, strikes at the mistakes of the arguments that were made by apologists of the Nazi regime. The article, thus, demonstrates the hollowness of the arguments that were advanced by such people regarding the freedom that the press enjoyed under the Nazi regime. It also reveals that the freedom to question and protest were the most important rights that a person had under a democracy. Even if the state of things is not perfect in a democracy, as long as the right to protest remained intact, the press of the country could be considered to be free, according to Hess. The article demonstrates how the people of a certain nation, in an attempt to be apologists of the existing regime of the country, can be blind to the obvious. Hess manages to point out clearly the defects of the Nazi regime and the positives of a democratic form of government being opposed to it. Works Cited Hess, John A. â€Å"Free Speech and the Nazi Press†. The German Quarterly, 11(4) 1938. Web. 28th Mar. 2012.

Financial Analysis of Northrop Grumman Essay Example for Free

Financial Analysis of Northrop Grumman Essay The fiscal analysis of Northrop Grumman includes the examination of profitability, liquidity, and equity ratios, its 3 year stock price, as well as a general financial overview of the company. This case study exams their fiscal strategy as well as the debt utilization and possible effects of the fiscal crisis on Northrop Grumman. This document compares Northrop Grumman to other companies in the defense sector by comparing their ratios as well profitability. The paper will provide the reader with an understanding of the financial makeup of the company and its current and recent performance as well as estimates of future earnings. Overview of Northrop Grumman Northrop Grumman is one of the world’s major defense contractors. Northrop Grumman is an innovative company that has long history of making aircraft and other products that support the defense industry. Northrop Grumman is made up of the former Northrop and Grumman companies and eighteen other companies that have been integrated into one successful corporation. Northrop Grumman has four primary sectors in its business model: aerospace systems, electronic systems, information systems, and technical services. The company has its headquarters in Falls Church, Virginia, and production facilities across the United States, with major facilities in California, Virginia, and Maryland. Northrop Grumman is the third largest defense contractor in the world. Some of Northrop Grumman’s primary competitors are Lockheed Martin, Raytheon, Boeing, and L-3 Communications Holdings, Inc. Northrop Grumman plans on remaining competitive even with the threat of sequestration looming over the federal government and the threat of an additional $500 Billion in defense cuts above the currently planned $500 billion in defense cuts. They plan on remaining competitive by being able to successfully develop and market their products, to stay ahead of the competition. This is done by reaming innovative, and providing the facilities and people to accomplish these goals of developing and manufacturing new products and support businesses and governments in information technology. History of Northrop Grumman Northrop was founded in 1939 by Jack Northrop in Hawthorne, California. The company produced its first aircraft in 1940, the N-3PB patrol bomber for the Norwegian Air Force. The first production aircraft for the United States Army Air Force was the P-61 Black Widow. They continued developing aircraft for the United States Air Force, competing in the bomber contract in the mid-1940s for the long range heavy bomber contracts using his radical flying wing designs of the XB-35 and XB-49, which were in competition with the B-36 and B-47. This was a highlight of Jack Northrop’s development of technologically advanced aircraft. In 1959, they had the first flight of the F-5 a supersonic low cost fighter that would serve as the basis of the T-38 supersonic jet trainer for the USAF, and later on the F-20 an upgraded version of the F-5. They also designed the US first ICBM the Shark. They continued with development of many programs culminating with the B-2 Spirit Stealth Bomber, currently the most advanced and expensive bomber ever built for the US Air Force. In 1994 they acquired the Grumman Corporation and became Northrop Grumman. The Grumman Corporation started out in the 1930 was instrumental in the development of Naval Aircraft. They built the XFF-1, built in 1931, was the first naval aircraft with retractable landing gear. The built the widely successfully naval fighters the Wildcat with the first ever sto-wing and the Hellcat one of the most successfully carrier aircraft of World War Two. Grumman continued to develop aircraft for the United States Navy, developing the F9F Panther, one of the United States Navy’s earliest jet fighters. Grumman continued to develop jet aircraft, including the A-6 Intruder family of aircraft for the Navy, as well as the F-14 Tomcat, made famous by the movie Top Gun. Most notably the Grumman designed and built the Lunar Lander for the Apollo program. Key Products Northrop Grumman is primarily involved in four related by also distinct industries which are also their core competencies. They are involved in aerospace systems, electrical systems, information systems and technology systems. Involvement in these key areas allows them to focus on their customers’ needs for unmanned air systems; command, control, communications, computers, intelligence, surveillance, and reconnaissance (C4ISR); logistics, and cyber security. The company is currently involved in a many major programs for the Defense Department. They are producing the RQ-4 Global Hawk an unmanned air system (UAS) that is the only UAS that is allowed to fly in US airspace. They are also developing and producing active electronically scanned array radars for the F-35 and F-16 as well as a multitude of electronic warfare systems like the US Navy’s Next Generation Jammer. The Lightning family of advanced targeting pods is also a key program within Northrop Grumman, with the L ightning Generation four reaching its 250th produced unit. Northrop Grumman is also developing the X-47b for the US Navy, which would give them a stealth carrier launched unmanned combat air vehicle, which would be the first for the US Navy. This aircraft also made history, by being the first unmanned combat air vehicle to accomplish a catapult launch, on 29 November 2012 at the Naval Air Station Patuxent River, Maryland (McKinney 2012). Northrop Grumman is also a partner with Lockheed Martin in building major components to the F-35 Lightning II Joint Strike Fighter Program, specifically the center fuselage and weapons bay. They also participate in the civilian sector with the flat sequencing system for the US Post Office, and information systems for the Department of Homeland Security and public 911 services. Financial Condition Northrop Grumman is a financially secure company that is looking to maintain its current status quo. According to their Value Line Report they were given an A++ rating for financial stability. Value Line is also estimating their 2012 revenues at $25100 million, which represents a decrease of $1312 million. Even though the company’s revenues have decreased since 2010, they have been able to maintain their strength in the defense industry. They are still the third largest defense contractor; even with their recent sell offs of Newport News and Huntington Ingalls Industries, Incorporated. This sell off, the drawdown in the Iraq and Afghanistan, and the decreases defense spending has led to a decrease in revenues however according to Value Time, their revenue in 2013 is estimated to be $2,500 million a decrease of only $100 million. Northrop Grumman also carriers a middle grade bond rating of BBB+, BBB+, and Baa+ from the 3 major bond raters, S P, Finch, and Moody’s. These rating show that Northrop Grumman is stable company with an average stock price for 2012 of $63.13. Northrop Grumman Fiscal Strategy Northrop Grumman’s corporate strategy can be explained in the 2011 Annual Report opening quote from CEO Web Bush, â€Å"2011 was an outstanding year for Northrop Grumman, affirming that our focus on performance, portfolio alignment and effective cash deployment continues to create value for our shareholders, customers and employees and position our company positively for the future.† This quote states the overall direction that CEO Web Bush is taking Northrop Grumman into the future. The key to this strategy is Northrop Grumman focusing on performance. An example of this was an earnings per share increase of 17% on diluted shares to $7.41 (Northrop Grumman 2011). In 2011, with the spinoff of their shipbuilding division, they were able to provide, $1.6 billion in equity to their shareholders (Northrop Grumman, 2012). These actions have all been to provide the most benefit to their shareholders. Northrop Grumman is also focusing in on the new strategies that the Department of Defense is pursuing, with over 90% of their business with the DoD and the US government by focusing in on the growth areas of the DoD. C4ISR, unmanned systems, cyber security, and logistics are leading the way as the new focus of Northrop Grumman as they are the portions of the DoD that will continue to grow with the current budget issues facing the Obama presidency. They are also continuing its focus on their aerospace division which is the most profitable, since Northrop Grumman is a prime contractor on the F-35 and the F/A-18, as well as the builder of the Global Hawk. They are also seeing the US budget problems as an ideal point to start pursue the international market place more, like the recent sale of Global Hawks to the North Atlantic Treaty Organization (NATO). Their continued focus of on stockholder’s value means they need to focus on their key priorities of unmanned air system, C4ISR, logistics, and cyber security. Another part of Northrop Grumman’s strategy is making minor and major acquisitions into other companies allowing them to expand their business, which in turn will help increase stockholders value. They will from time to time create strategic alliances, form joint ventures, and dispose of or spinoff companies when they believe that these actions will aid in creating more value for their stockholders. Northrop Grumman’s strategic plan is to continue to focus on increasing shareholder value as well as to continue to maintain their cutting edge in technology and in the defense industry, and to develop systems that will support the DoD new strategies as US forces leave Afghanistan and begin to focus on the Pacific Region. The current fiscal crisis that is gripping the US, with large cuts to the defense budget, expiration of the George W. Bush tax cuts, increased tax rates, cuts to social programs, and new taxes from the Patient Protection and Affordable Care Ac 2010, will directly affect Northrop Grumman at all levels. However, Northrop Grumman is in a position to succeed with the cuts and tax increases and the possibility of another $500 billion in budget cuts to its largest customer, the Department of Defense in the event of sequestration, because of the companies diversity within the defense market and their mix of being the primary contractor and a subcontractor on many contracts. They plan on continuing their focus on their core industries needs of the DoD. Northrop Grumman also believes that their business is well positioned within the US government, because of the diversity of programs they are working on like the F-35 Lightning II, RQ-4 Global Hawk, Minute Man III upgrades, next generation jammer, and other classified programs. These programs, with their importance to the US DoD will allow Northrop Grumman to remain viable during the fiscal crisis, and remain profitable. They also believe that a deal will be reached averting the crisis, and allowing business to continue. Northrop Grumman’s Weighted Average Cost of Capital Northrop Grumman has a weighted average cost of capital of 8%. This represents the low cost at which Northrop Grumman is able to procure financing. They currently have been buying back shares, which are increasing shareholder’s equity by making each share worth more; as well they have been utilizing debt effectively. They particularly have been using bonds to buy back stock as well as for financing capital programs. They use the weighted average cost of capital as a tool in determining discount rate and terminal value assumptions. The weighted cost of capital takes into consideration the relative weights of the components of their capital structure. This is used to measure the costs of new capital, and with a weighted average cost of capital at 8%, Northrop Grumman seems to balance in its approach to capital which is a sign of a mature and financial stable company. Profitability Northrop Grumman has been a profitable company over the course of its history. In 2002 their profits were $697.0 million and a Value Line estimate of $2,005 million for 2012, which are almost three times the profits of 2002. These recent profits can be attributed to the operations in the Middle East, particularly the wars in Iraq and Afghanistan, which have increased profits in every major defense contractor. Northrop Grumman plans to remain profitable during the defense cuts from 2011-2021 by continuing their excellence in their product development, manufacture and support. Failure in any of these areas will have a negative effect on their profitability. They also need to ensure that their contracts are completed on time and on budget, to ensure that with some of the current contracts and political environment that either they do not get canceled, or that they do not have continue on with their own funds. Other things that could affect profitability would be a failed rocket launch or failure of a product that cannot be fixed causing a contract to be canceled. Northrop Grumman’s net profit margin has also increase since 2002. In 2002 their net profit margin was 4.1% and has increased gradually to an estimated 8.0% in 2012. However, Value Line estimates that their net profit margin will decrease to 7.3% in 2013 and fall to 6.8% till at least 2015. The gradual increase in profits is attributed to the wars in the Middle East, where there has been an increased demand on their products, but the estimated decrease will be a result of the winding down of operations in the Middle East and the fiscal crisis enveloping the US Government. Even though their profits and net profit margin is planning on decreasing in 2013 and beyond according to Value Line, Northrop Grumman will remain profitable and thereby allowing to focus on their strategy of performing well for their shareholders. This increase in profitability is in line with their strategy of performance particularly with their stock price, which investors take the firm’s profitability into account. This has resulted in an average return on capital of 9.2%. Their return on capital is estimated to continue this increase rate through 2017 at 11.5%. Northrop Grumman’s EBITA Margin for 2011 is 14.26% at $3,304,000 million which has been increasing since 2010 and should continue to steadily increase even with the future budget uncertainty in the US government. Dividend Policy Northrop Grumman is also a stable company because of its dividend policy. Northrop Grumman offers a quarterly dividend and has been paying a dividend since 1943 except for 1949-1950. The dividend payouts for 2012 were $0.50 for the first quarter and $0.55 for each subsequent quarter, totaling $2.15, with earnings per share of $7.40 estimated for 2012 resulting in a 29% dividend payout ratio. When compared to other companies in the defense industry, Northrop Grumman is on par with its main competitors in regards to a dividend payout ratio with Boeing having a 2011 dividend payout ratio of 31% and Lockheed Martin of 41% in 2011 (Tortoriello, 2012). In 2011, Northrop Grumman was able to allocate $2.8 billion to give back to shareholders by repurchasing stock and through dividends. These strong cash flows in 2011 were a result of the spinoff of their shipbuilding industry, and $26,412 million in sales. The company is continuing its share repurchasing in 2012 with $290 million allocated to repurchase 13.6 million shares, with $2.0 billion left in that program (NOC earnings release, 2012). This along with the $2.15 dividend in 2012 represent Northrop Grumman strength as a company and their resolve to focus on their shareholders, by buying back stock, making it worth more and continuing to raise their dividend. Prior to the 2000s Northrop Grumman conducted its dividend policy like a utility with dividends that did not change its payout year to year. This all changed when Ron Sugar became CEO of Northrop Grumman in 2003. He began a program the resulted in stock buyback programs and was able to double the dividend payout during his tenure. CEO Sugar was able to raise the sales per share, however this did not result in an increase in the share price, which a low of $33.80 (Forbes, 2011). Northrop Grumman through their current CEO Wes Bush has increased their emphasis shareholder returns. He was able to the do by increasing dividends by an average of $0.13 per year and an average dividend of $1.78, since 2007. The 2012 dividend will be $2.15 with the fourth quarter paid on Dec 31, 2012. Northrop Grumman’s dividend policy is to continuously provide a dividend to its shareholders and to continuously attempt to increase the dividend as well. Another part of Northrop Grumman’s dividend policy is the stock buyback program. Northrop Grumman has been doing this since 2010, since they have excess cash from the spinoff of Newport News and Huntington Ingalls Industries, Incorporated, the shipbuildin g portion of Northrop Grumman and recent bond issues to buy back stock, in lieu of issuing a higher dividend. Corporate Bond Policy and Debt Usage Northrop Grumman uses corporate bonds like many other companies, for acquisitions, capital expansion projects, and refinancing existing debt. They currently have nine bond issues out with interest payments ranging from 1.85-7.81% with maturity dates from 2014 to 2040. Its current credit rating from SP, Fitch and Moody’s is BBB+, BBB+, and Baa1. These rating mean that Northrop Grumman has a lower medium grade rating, however according to Moody’s their debt metrics are at the high end of their current class of debt. Their current long term debt on 31 December 2012 will be $3,935.0 million (Value Line, 2012). Since 2009 they have paid of $256.0 million towards their long term debt. In 2011, Northrop Grumman paid $2,692 million in interest payments, according to their 2011 Annual report. They are projecting paying $207.0 million in 2012, which is lower than 2011, but that number is likely to rise at least through 2017. In November of 2010, Northrop Grumman issued a tender offer to buy its bonds back for a total of $2.119 Billion of bonds from its subsidiaries. Concurrently, they have a public offering of senior unsecured debt securities for debt repayment, pension funds, acquisitions, share repurchases, and working capital. On 15 February 2011, Northrop Grumman had a bond issue of $750 million at maturity with an interest rate of 7.125%. Moody’s has not down or upgraded Northrop Grumman’s bond rating, due to a large order of RQ-4 Global Hawks to NATO, and because of a $4.0 billion share repurchase plan. That sale could have a positive effect on their bond rating. All in All, Northrop Grumman has had numerous bond issues, and is currently using its latest one for a multitude of purposes. Industry Comparison Northrop Grumman is one of the top five defense companies in the world with defense revenues in 2010 of $31,181 billion (Tortoriello, 2012). Northrop Grumman as the one of the leading defense contractors in the world and is on par with or exceeding its competitors. Comparing the profitability of Northrop Grumman to its peers in the defense industry, we can take a look at figure 1 and compare profitability ratios of Northrop Grumman with the averages in their industry group. The median return on assets (ROA) for the search and navigation equipment is 7.10%, Northrop Grumman currently has a ROA of 7.45% as of 31 Dec 2011, and their current ROA is 5.72% as of 30 September. Using 2011 numbers, Northrop Grumman is slightly more profitable than the other firms in its SIC industrial grouping. Northrop Grumman is also effective in how they finance their activities, by using a mix of bonds, stock options, and other forms of financing. As of 2011 their total debt to equity ratio is 0.38 when compared to the industry average is of 84.40 is significant because it shows little financing Northrop Grumman is using at this time, however, they are still have a decent bond rating of Baa1 from Moody’s and Value Line has their financial strength listed as A++. The industry average for the quick ratio is 2.00. Northrop Grumman’s 2011 quick ratio was 0.97. With a quick ratio below one, this shows that Northrop Grumman is highly effective at creating cash from its investments and work activities. In examining these ratios; it shows that Northrop Grumman is a highly successful and stable company that would present a low risk investment to an investor. However, it is to be seen what the possibilities of sequestration and cuts to the military have on these ratios and the profits and low debt that Northrop Grumman has during the 2000s. Stock Price Analysis Northrop Grumman is a publicly traded firm on the New York Stock Exchange, under the symbol NOC. As of 14 December, 2012 they currently have 254,000,000 shares of common stock outstanding. They currently have zero preferred stock and $3,935 million currently in bonds. According to Northrop Grumman’s last cash flow statement, they paid $543 million in dividends. As of 15 November 2012, the board of directors decided to issue a quarterly dividend of $0.55 per share payable 12 December 2012. Northrop Grumman since 2009 has paid an average dividend of $1.83. They also have repurchased $2,194 million in company stock, and they have been doing this for the past few years as another way to compensate their investors besides dividends. Northrop Grumman over the past thirty-six months has seen its stock rise and fall and continue on that path with an average volatility of 2.0. The low volatility of their stock is representative of a stable company, and stable stock prices, that would attract conservative investors, and give new investors faith that they will receive a decent return on their money. Northrop Grumman during this time has since its stock prices with a high of $71.87 and a low of $49.26. The few really large troughs in the wave that the stock price creates is August of 2011 and fall of 2009. These troughs represent the low times for Northrop Grumman’s stock, but during these times there stock has been steadily climbing specifically after Wes Bush took over as CEO and began to focus on improving the share price as well increase the performance of the company. These dual actions have led to an increase in their share price as well helping the company reduce debt, and increase capital to deal with the impending financial crisis that could possibly lead to another recession. As of 14 Dec 2012, Northrop Grumman is trading at $67.37 (yahoo finance, 2012); they have consistently been trading in the upper $60s since July of 2012, when the stock price was rising from a low of $57.29 in June of 2012. Northrop Grumman stock has been rising because of the good ratings they have received from numerous media outlets, such as Value Line and Yahoo Finance. The rise in stock prices and favorable rating can be attributed to the company renewed focus on its core industries and the spinoff of its ship building subsidiaries. Their performance has increased under the leadership of their current CEO Wes Bush. Their stock prices have also remained stable in recent months, because of the strong cash presence, which is adding investor friendly initiatives such as a raising the dividend and repurchasing stock, as well as lobbying for new contracts, like the $30 million post office contract and the NATO contract to buy RQ-4 Global Hawks. Lastly, Northrop Grumman is one of the more stable companies with an estimated EPS in 2012 of $7.40, down $0.01 from 2011, which is indicative of a stable company that is meeting or exceeding its performance estimates. Currency Risk Northrop Grumman is exposed to foreign currency risk; however they are not at a great risk to fluctuations in foreign currency. They are exposed to the risks of foreign currency from their international operations. They mitigate foreign currency risk by entering into foreign currency forward contracts as to manage portions of receipts from international customers and payments that may be have to made to international partners. As of 31 December 2011 Northrop Grumman had $233 million in foreign currency forward contracts outstanding (Northrop Grumman, 2011). With $26,412 million in sales in 2011, (Northrop Grumman, 2012), $233 million is not very significant, and they believe a 10% change in interest rates of foreign currency exchange rates would not have a significant effect on the financial position or effect their operations. Capital Markets Northrop Grumman will be affected by the volatility and disruption the domestic and international credit markets. Northrop Grumman access these markets from time to time when they need capital to support capital expansion projects, refinancing of existing debt, and for evolving lines of credit. With the current fiscal crisis in the US and Europe, will make it difficult for Northrop Grumman access credit on favorable terms or at all which will have an adverse effect on the fiscal standing. They are at risk, because of counterparty default because they deal with bankers and brokers in the credit market, when they have need for more capital. Their suppliers are also at risk with the volatility and disruptions in the credit markets from the fiscal crisis. If their ability to access credit on favorable terms, or at all could adversely affect Northrop Grumman by forcing them to change suppliers, which could lead to them to be unable to meet their contractual obligations. This could cause delays in programs or force them to find other means to assist their suppliers to support their contracts. Northrop Grumman has also entered into credit agreements amounting to an aggregate principle of $2 billion. This is a revolving door 364 day credit agreement that will help them cover costs over the short in the event of a decrease in cash. This revolving line of credit is based on many rates, including the LIBOR or an alternate rate. Northrop Grumman will be facing issues in the credit market, due to the fiscal crisis in the US, and the instability in the federal budget and the looming threat of sequestration, which will directly affect the credit markets. However, the slow growth rates of the US economy, and economy remaining on the brink of falling back into recession has kept interest rates low, which is an attempt to make credit easier to access. Conclusion Northrop Grumman is a leading defense contractor in the United States that has four main business areas, aerospace systems, electronic systems, information systems, and technical services. They are involved in many products that are used or are in development for the Department of Defense, from the RQ-4 to new electronic warfare systems. Northrop Grumman currently receives 90% of its revenues from the US government, primarily from military contracts. They are also a very stable company that has been increasing their dividends over the past few years, as well as having a steady stock price that has been increasing as well. Their currently a lower medium grade bond rating, rated at Baa+ from Moody’s. They have a strong history of supporting the US military with a multitude of historic aircraft and systems that support these aircraft. Northrop Grumman will continue to excel within the looming threat of sequestration and $1 trillion in budget cuts to the defense budget over the next ten years. All in all, Northrop Grumman is a leader in the defense industry and will continue to be a profitable company during the drawdowns in the Middle East and the defense budget cuts facing the US armed forces. References Defense System Staff (2012) NATO inks $1.7B deal for Block 40 Global Hawks, 1105 Media, Vienna, VA. Retrieved on November 10, 2012 from http://defensesystems.com/articles/2012/05/21/agg-nato-global-hawks-contract.aspx. Dobosz, John (2012) Half A Trillion In Pentagon Budget Cuts Turns Defense Stocks Into Dividend Darlings, Forbes, Inc. Retreived on November 12, 2012 from http://www.forbes.com/sites/johndobosz/2012/05/25/superior-firepower-pays-fat-dividends/ Harrington, Robert L. (2012) Value Line Northrop Grumman. Value Line Publishing. Retrieved on November 20, 2012 from http://www3.valueline.com.ezproxy.libproxy.db.erau.edu/secure/vlispdf/stk1700/index.aspx. Mergent (2012) Mergent Online General Company Information, 2012. Retrieved November 15, 2012 from www.mergentonline.com. McKinney, Brooks (2012) Northrop Grumman, U.S. Navy Conduct First Catapult Launch of X-47B Unmanned Aircraft, Globe Newswire. Retrieved on November 29, 2012 from http://www.irconnect.com/noc/press/pages/news_releases.html?d=10014076. Movius, Steve (2012) Northrop Grumman Reports Third Quarter 2012 Financial Results. Falls Church, Va. Northrop Grumman (2012) 2011 Annual Report. Falls Church, Va. Thompson, Loren (2011) How Northrop Grumman Aims To Outperform, Forbes, Inc. Retrieved on November 29, 2012 from http://www.forbes.com/sites/beltway/2011/01/10/how-north rop-grumman-aims-to-outperform/. Thompson, Loren (2012) Northrop Grumman Finds A Formula That Will Work In Hard Times, Forbes, Inc. Retrieved on December 11, 2012 from http://www.forbes.com/sites/lorenthompson/2012/12/11/northrop-grumman-finds-a-formula-that-will-work-in-hard-times/?partner=yahootix. Tortoriello, Richard (2012) Industry Surveys, Aerospace and Defense. S and P Capital IQ Industrial Surveys, New York. Retrieved on November 25, 2012 from http://www.netadvantage.standardandpoors.com.ezproxy.libproxy.db.erau.edu/NASApp/NetAdvantage/index.do. (2012) Industry Browser Industrial Goods Aerospace/Defense Major Diversified Company List Yahoo Finance. Retrieved on December 8, 2012 from http://biz.yahoo.com/p/610conameu.html. (2012) Moodys Disclosures on Credit Ratings of Northrop Grumman Corporation , Services, New York. Retrieved on November 3, 2012 from http://www.moodys.com/research/Moodys-Disclosures-on-Credit-Ratings-of-Northrop-Grumman-CorporationPR_243144. (2011) Moo dys says Northrop Grummans $4 billion share repurchase authorization wont impact ratings, Moody’s Investor Services, New York. Retrieved on November 10, 2012 from http://www.moodys.com/research/Moodys-says-Northrop-Grummans-4-billion-share-repurchase-authorization-wontPR_218143. (2012) Northrop Grumman Corp. Ford Equity Research, Retrieved November 30, 2012 from www.fordequity.com. (2012) Northrop Grumman Corp. Mergent Corp. Retrieved on December 12, 2012 from www.mergent online.com. 2012 D B ratios, SIC 3812. Retrieved on December 5, 2012 from http://www.mergentkbr.com.ezproxy.libproxy.db.erau.edu/index.php/reports/industry (2010) Northrop Grumman Announces Cash Tender Offers for Debt Securities and Commences Debt Offering. Los Angeles. Retrieved on November 10, 2012 from http://investor.northropgrumman.com/phoenix.zhtml?c=112386p=irol-newsArticleID=1489734highlight=. (2012) Northrop Grumman, Yahoo Finance. Retreived on October 30, 2012 from http://finance.yahoo.com/q/bs?s=NOC+Balance+Sheetannual. (2012) Northrop Grumman Corporation, numerous Moody’s reports. Moody’s Investor Services. New York. Retrieved on November 1, 2012 from http://www.moodys.com/credit-ratings/Northrop-Grumman-Corporation-credit-rating-558850. (2010) Northrop Grumman Announces Cash Tender Offers for Debt Securities and Commences Debt Offering, PR News Wire, Los Angeles. Retrieved on November 27, 2012 from http://www.prnewswire.com/news-releases/northr op-grumman-announces-cash-tender-offers-for-debt-securities-and-commences-debt-offering-106442983.html. (2012) 3 Defense Companies To Buy Ahead Of A Fiscal Cliff Compromise. Retrieved on December 9, 2012 from http://seekingalpha.com/article/1053621-3-defense-companies-to-buy-ahead-of-a-fiscal-cliff-compromise?source=yahoo.

Images of Blood in William Shakespeares Macbeth Essay -- GCSE Course

Images of Blood in William Shakespeare's Macbeth  Ã‚   In Shakespeare?s tragic play Macbeth, the symbol of blood is portrayed often and with different meanings. Blood as a symbol is developed throughout the play until it becomes the dominating theme. Perhaps the best way to show how the symbol of blood changes throughout the play is to follow the character changes in Macbeth. First he is a brave honored soldier, but as the play progresses acknowledged and trusted by his king, he becomes a treacherous person who has become identified with death and bloodshed, and ends up killing Duncan who put so much trust in him. This is ironic because the previous thane of Cawdor was executed for treason, which is the first thought that comes into his mind when he is appointed thane. He knows that the king?s trust was misplaced; the fact that he murdered his king plays upon his conscience and shows his guilt in different forms. The situation worsens for him after he murders Banquo, who was one of his most loyal and trusted friends. A similar idea can also be applied to lady Macbeth, as her character changes dramatically throughout the course of the play. Hers and Macbeth?s roles can be seen to swap in a way. When the idea of killing Duncan come s into the minds of Macbeth and lady Macbeth, Macbeth is uncertain, he seems withdrawn about the whole idea. Lady Macbeth comes across as evil and bloodthirsty, for it is she who ensures that the murder takes place. Towards the end of the play though, although both characters show the immense guilt of what they have done, it is lady Macbeth who is now withdrawn, and Macbeth who comes across as evil, for the full spell of the witches has now taken effect, he does not believe that the Scots will be d... ...s that he is guilty, when he says "But get thee back, my soul is too much charg'd with blood of thine already.? Of which, Macduff replies, "I have no words, my voice is in my sword, thou bloodier villain than terms can give thee out." After the death of Macbeth at the hands of Macduff, the symbolic theme of blood swings back to the theme of triumph and glory that it was at the beginning of the play. It is the symbol of honor to Malcolm this time. The death of Macbeth is an honored feat that Macduff is congratulated for. As we have seen, the meaning of the symbol of blood changes from honor to treachery, and then to guilt, after this, it returns to the symbolic meaning of honor once again after the villain that changed the meaning from honor to tyranny is killed. Works Cited: Shakespeare, William. Macbeth. Ed. Dietrich Klose. Stuttgart: Reclam, 1970.