Impact of Ebusiness on an Organisation

Impact of Ebusiness on an Organisation 1.1 Introduction: The purpose of this project is to provide research findings of the impact of e-business on a particular organisation. The research carried out in this project was based on the performance of Ocado an online grocery company and being online business how this company differentiate itself from other companies in the same industry and get advantages of e-business in this modern era of technology. 1.2 Why e-business: Businesses that are run on the internet or uses information and communication technology to improve efficiency and profitability are known as e-businesses. The impact of e-business on an organisation is seems to me different and logical topic. It is different because it changes the living styles of people and effects the social lives of people. Going through research on this topic I can learn a lot of new things on the infrastructure of e-business and way of doing e-business. Due to technological boom e-business is the future of businesses. It would let me figure out the competitive advantage of e-business on traditional one and potential of change in social behaviour of people. The choice of this topic helps me to apply my academic knowledge and improve my communication and analytical skills and helps me to improve professional career. This topic not only provide me impact on one organisation but will also tell me how global businesses change due to technological revolutions. 1.3 Company Profile: Ocado is a British online retailer specialising groceries. Ocado is partly owned by John Lewis partnership pension fund. Ocado is a limited company was founded in 2002 by Jonathan Faiman, Jason Gissing and Tim Steiner, former Goldman Sachs merchant bankers. Ocado has a number of own brand products from Waitrose supermarket chain and also name brand groceries and items like toys, flowers and magazines. Since 2002 Ocado has been making losses even though it has won customer service awards in the UK. Ocado was listed on London Stock Exchange on July 2010 and is member of FTSE 250 Index. The company is operating on a warehouse model deprived of physical stores and operating as an online business. Ocado operates in Englands South East, South Coast, Midlands, North West and most of the Yorkshire. (http://www.ocadogroup.com/about-us/history.aspx) To revolutionise the way people shop forever, by giving them a uniquely innovative and greener alternative to traditional grocery shopping. (http://www.ocadogroup.com/en/about-us/mission-statement.aspx) Ocado is an online business; it has also launched iPhone, iPod touch, iPad and Android device applications which are most convenient way to shop for groceries. People do not require desktop PCs or laptops to shop online; they can use their phones to shop for groceries. Ocado allows its customers to price match with other main grocery stores in the UK. Ocado has launched online price match with its competitor store Tesco. Ocado is one of the rapidly growing online businesses in the UK with delivery area expanded to cover over 10m households. 1.4 Industry Profile: Online grocery retailing remains in its infancy with both demand and the proposition often limited in many countries. In the UK, online represents just 2.6% of the total UK grocery market. Nevertheless, with increasing broadband penetration and shopper lifestyles continuing to change, the internet looks set to become more important as a grocery retail channel in 2010. (http://www.igd.com/index.asp?id=1fid=1sid=8tid=30cid=1499) The value of the UK online grocery market to have grown by 85% from  £2bn in 2006 to  £3.7bn in 2009. Online is set to play a greater role in future grocery shopping patterns. We predict that the value of the online grocery market will nearly double in size to  £7.2bn by 2014, with a forecast annual growth rate more than three times faster than that of the wider grocery sector. Many online shoppers pick from a shortlist of favourites although more than nine in ten can be swayed to try something new. More than six in ten (62%) online shoppers mentioned that they would try something new if they could select a free sample. Other preferred tactics include better or more offers listed at the top of the page, offers on linked products and more prominent displays and descriptions of new products. However, although shopping online for groceries has become increasingly popular over the last few years, this section of shoppers represents less than one in four of those who buy goods and services online. This means there is a significant opportunity for grocery retailers to expand their online sales. (http://www.igd.com/index.asp?id=1fid=6sid=25tid=90cid=1409) 1.5 Aims and Objectives of the Report: To analyse the impact of e-business on Ocado and how the online business approach change the behaviour and motivation of people. One of the main aims of this report is to evaluate and compare the growth and financial performance of Ocado with other traditional grocery shopping organisations. Following are objectives of this report: To understand how Ocados online business approach progresses in order to achieve the revenue and market share. To analyse the financial performance of the Ocado and compare it with other supermarket retail industry. What are the potentials and limitations to the future growth of the online shopping businesses? Part 2: Information gathering and accounting/business techniques Sources Used: Primary data is original data that has been collected by a researcher by whatever means appropriate in the answer of a specific research question. i.e. it has been collected specifically for the Research Report.  Examples of primary data include questionnaires, interviews, e-mail contacts and surveys. (http://www.accaglobal.com/students/bsc/rap/gathering) Due to immediate surge in information technology industry, there is sufficient amount of secondary data available which has been used in this report. This data suffices all aspects of this report. Therefore most of my research is based on secondary data. Secondary data is data which has been collected by other people or organisations for their own purposes and researcher has used this data for different purposes. My secondary data consists of two main sources of collection: Library research: I went to local and college library and searched for several types of books and extract my project related material and used it in my report. BPPs Success in your research and analysis project provided the platform to sketch out broad counters of this research. The study text materials of ACCA (published by both BPP and Kaplan) has helped me to apply analytical techniques and also taught me how to evaluate my research findings. I also used articles published in ACCA student accountant relating my project which also helped me in meeting the goals of the project. Online research: Major parts of my research are based on material available online. This also shows impact of online on our research and daily use of communication. I find it quite credible to find online research material for a web based company. Following are the websites and search engines used to collect the information; Ocado limited website; this site provide the useful and more reliable information necessary for my project. This site provide me the audited annual reports of the company, company profile, history, investor information and other important information required. Competitors websites used for same purposes as mentioned above. ACCA website provide the help to find out the relative articles which I used to analyse the information. The food and grocery experts igd.com provides the statistical data about industry, surveys about trends in industry and its future. London Stock Exchange and NASDAQ websites provide the news about the industry, historic share performance competitors and surveys. Google, Yahoo and Bing are search engines used to find information about Ocado, retail industry and e-business techniques. Other websites used to find the news about Ocado , online grocery businesses, surveys and competitors are: Financial Times The Guardian BBC news 2.2 Methods of Analysis: To emphasize the impact of e-business on Ocado and to make comparison of its results in all business and financial aspects, results of Waitrose plc will be used. The objectives of the project are based on Ocados business approach and what make in it differentiate from other businesses, thus the report is based on the following aspects: Porters Generic Strategies. Consisting of three types of strategies to maintained and achieved competitive advantage by the businesses. Two strategies lie in the strategic strength, is a supply side dimension and focus on product differentiation and product cost. Third strategy lies in the strategic scope in the demand side dimension concentrate on the particular size and composition of the market. SWOT Analysis. It is strategic planning method used to evaluate the Strengths, Weaknesses, Opportunities and Threats involved in an organisation. It analyse the external and internal factors of the organization that are favourable or unfavourable to achieve that organizations objectives. PEST Analysis. It is tool of environmental analysis, especially concentrates on macro environment which includes Political, Economic, Social culture and Technological factors. Trend Analysis. Using the past data to predict the future outcomes in the industry. B2C and B2B. Business 2 Customer includes customer service and interface design while Business 2 Business includes channel partner and system integration. Sales Growth. This will analysis the trend of sale over the past years and comparison with competitors. Profitability. The comparison of the profitability to past years and competitors and ability to generate profits. ROCE (Return on Capital Employed). Use to analysis the organization return on long term investment. Gross/Net Profit Margin. These ratios analyse the organizations operational efficiency, its costing policy and ability to control cost. Capital Gearing Ratios. Analyse the capital structure of the organization and reveal how much an organization relies on debt financing. Investor outlook. The return to shareholders compare with other organizations. Earnings per Share. This ratio shows the profit attributable to each individual share. 2.3 Limitations of Analysis: In order to analyse impact of e-business on an organisation, it is critical to make sure the sustainability of information technology remains constant in the industry. In todays environment as every organisation and governments are dependent on information technology, it is inevitable to some human error. From internet perspective selling online is quite new business as it only has 2.6% share in the whole retail industry. This information could change as new competitors introduce new business techniques which could impact this particular organisation. Some of the information taken from surveys has limitations as buying online grocery is quite newly introduced phenomena for British people and the information is not quite mature. Financial information use in this analysis has inherent limitations which include estimates and figures that are highly influenced by personal decisions. Financial statements are prejudiced by the choice of accounting policy e.g. a company seeking to improve its ROCE may choose not to revalue its assets. Financial statements have past data; it is not feasible to predict future on the basis of this data. In SWOT analysis there is problem for companies to identify the elements of their own organization e.g. strengths appears to one person can have different meaning for other. Ratios we used in our analysis also have inherent limitations. Firstly ratios are derived from financial statements that also have several limitations. Ratios are only useful when compared with the past results of the business and judge the performance of the business but the future forecast may not correct because several other factors also involved like market condition, etc. also the ratios have to be interpreted and different people may interpret differently. 2.4 Methodology used: Data collection is an important part of the project that should be planned and carried out and is completed in a well way for consideration. We have access to a lot of reliable and relevant information both online with easy access to internet and offline. Planning is completed and appropriate extraction of data provides help to develop good content of the reports. The method of search used is the Google search engine. By writing some key words in the search bar and clicking the entre it provides me the so many links of the websites that match with the key words. Most of the links are relevant to my search and contains a lot of information but some links are irrelevant to my research. However I am able to extract the relevant information suitable in the preparation of my project. Offline search include reading the books and journals and see if some information suitable for my report, make a note of it and use it later in my report. I done research thoroughly in advanced and bookmarks the relevant articles and websites using the web browsers because it could be needed to me for the citation of information if chosen to be quoted in my report. Using the study text materials (both Kaplan and BPP) to calculate the financial ratios and in their interpretation. Financial Statements of Ocado and Waitrose are downloaded from their respective websites. MS Excel was used for the graphical explanation of the ratio and trend analysis. Part 3: Analysis and Presentation 3.1 SWOT Analysis: Strengths: Broad range of products Contract with Waitrose Customer proposition Weaknesses: Dependence on UK market Loss making Opportunities: UK online retail industry Non food Threats: Future acquisitions Competitors Fraud STRENGHTS Broad range of products: In addition to its current area of strategic focus, the company intends to investigate growth opportunities by improving the customer offering continually through maintaining and improving the customer experience; increasing its core product range; and continuing to offer value to customers (Annual Report 2009, Ocado limited). Ocado sells more than 20,000 different products, the vast majority of which are sourced through Waitrose, a leading high quality UK supermarket. Approximately 4,300 of the products sold by Ocado are Waitrose-branded products. Ocados product range includes a small but expanding range of Ocado branded products (Ocadogroup.com, Strategic Overview). Choices of the different range of products enable the customers to buy the products that match their lifestyles and are within their budget. Also the availability of every type of product on one channel increases the chances of sale because customer did not want to go elsewhere if he find everything on one place. It helped consumers to spend less without compromising on choice or quality. Contract with Waitrose: The Companys reputation is based at least in part on its relationship with Waitrose and its ability to supply Waitrose branded products. If Waitrose ceased to supply the Company with products or if Waitrose were to suffer reputational damage which impacted on the Waitrose brand there could be an adverse effect on the Companys financial position and future prospects. The Company has a successful symbiotic relationship evolved over 10 years and has recently agreed a new branding and sourcing agreement until 2020. The Company is not dependant on the Waitrose supply chain as 85% of items sold are now sourced directly from suppliers. In May 2010, a new 10 years deal was signed with Waitrose (Annual Report 2009, Ocado Ltd). There were some rumours about Ocado and its 10 years contract with Waitrose. Previous contract signed for 10 years were with Waitrose was about to end and if this contract will not renewed it can cause big problems for Ocado because in 2010 Ocado is going to listed on London Stock Exchange. But in May 2010 deal with Waitrose was signed for 10 years in which there is a non-competition agreement with Waitrose and with Waitrose likely to extend its delivery services to highly lucrative M25 region. Customer proposition: Ocado offers delivery of grocery products to customers centrally picked from a single, state-of-the-art, highly automated warehouse (the customer fulfilment centre or CFC) (Ocadogroup.com, Strategic Overview). Customer satisfaction is part of every business, Ocado uses its unique strategy the customer fulfilment centre (CFC) in which Ocado make sure the availability of products, freshness of products and wide range of products. Sanford C. Bernstein Strategic Decisions Conference Europe 2010 Presentation, Ocado Ltd, shows; 99.4% fulfilment accuracy and product availability given structural advantages. 97.6% of orders delivered on time or early. Structural advantages allow Ocado to guarantee freshness and use-by dates. WEAKNESSES Dependence on UK market: Although Ocado is still expanding its business to the other parts of the country and it is probable that Ocado will make profit in near future. But the company is fully reliant on the UK retail industry, any changes in the UK retail industry or changes in UK economic conditions like recessions can affect the Ocados growth. Increased competition also affects the sale growth of the company. Loss making: Ocado is making losses since it was corporate. However, the last three year results shows that it is improving towards profits like in 2007 Ocado incurred the loss of  £40m, in 2008  £33m and in 2009 Ocado incurred the loss of  £23m, the reason for this losses is the expansion of Ocados operations around the UK. Due to large investment in expansion of operations, Ocado loses the confidence of investors and its share price decreases dramatically. The company and its advisers have been promoting the impression that the company will be valued at around  £1 billion after raising some  £200 million in the planned float, but many analysts, of course not those closely involved with the offer, are highly critical of this valuation (http://www.moneyobserver.com/news/10-07-01/ocado-and-fairfield-energy-ipos-under-spotlight). OPPORTUNITIES UK Online retail industry: UK grocery retail industry is largest industry with the sales revenue of  £146bn, while the online grocery business has only 2% of the total sales revenue. UK Online grocery sales (2007-14),  £bn (Sanford C. Bernstein Strategic Decisions Conference Europe 2010 Presentation, Ocado Ltd) These figures show the opportunities for Ocado in online retail industry to grab the sales because online retail industry looks highly opportunistic. Non-food: Extended the business in non-grocery products are part of the Ocados future developments. The potential of growth in non-grocery products is much more than grocery items, so there is an opportunity for Ocado to increase its sales revenue by extending the business in non-grocery items. As Ocado is online grocery business, only 2% of total retail shopping comprises of grocery, while 98% consist of other non-grocery items. THREATS Future acquisition: Ocado plans to expand its business all over the UK. It has many opportunities for the business but along this it also has the threats to business. Ocado is making losses since it is incorporate this is because of its acquisition strategy but if it still applied same strategy, Ocado will be in great trouble. It loses investors confidence due to high level of borrowings. If Ocado uses same strategy, it will be run out of cash for their operations. Competitors: The retail grocery industry is highly competitive and the online market place is no different. Ocado has an established business model and superior customer proposition. The proprietary IP and experience gives Ocado a competitive advantage. A clear strategy is in place to widen the customer base by improving online experience, customer service, product range and pricing, and reducing environmental impact (Annual Report 2009, Ocado Ltd). Ocado operates in a highly competitive retail market. With other supermarkets struggling for position in the UK retail market, Ocado invested in price cuts and discount promotions in order to stay competitive. This will affect the Ocados sales revenue and profits. Especially in recession, when customers are looking for low price products, price cuts could result in the decline of industry profitability. Price cuts also have an adverse effect on the perception of customers for the quality of products; this can damage the brand image of Ocado. Fraud: The risk of fraud from staff is less due to the nature of the business; IT procedures are in place to reduce this risk to further. Whatever the precautions are put in place to avoid the fraud but the we cannot reduce it to zero. There are potential threats of security breakdowns on their websites for online businesses. For Ocado major threat is the loss of sales due to credit card frauds. 3.2 PEST Analysis: Political: Ocado operate in United Kingdom, it provide it the stable political environment. Ocado can make long term decisions and this also guarantees Ocado a large range of economic actions. Political stability and strong economy provides the Ocado to get customer confidence and improve its operations. Economic: Economy plays a vital part in the operations of the Ocado. Economic conditions of the country influence the supply, demand, costs, prices and profits of the company. Due to recession in the world, UK along with other countries face the unemployment, this affects the demand and profit levels of the company. Sales growth decreases due to global recession, especially the sales of non food items are highly affected by this recession as people avoid the purchase of non essential items. Social: The social influence on the business of Ocado has been more important over the past few years. This is because the behaviour of people is changing towards grocery shopping. Due to lack of time and busy life, customers prefer to purchases in bulks and on one shop. Trend of online shopping has also been increased and this is beneficial for the Ocado. Ocado has different timing slots for deliveries suitable for customers according to their routine. Technological: Due to the nature of the business, technological factors have significantly influenced the Ocado. Recent technological advancements has revolutionised the organisations and changes the way of doing businesses. Online shopping saves the time of the busy people. Through introduction of technology it eliminates the need for paperwork and reduces the cost of administration work. 3.3 Porters Generic Strategies: Ocado aims to have a market leading customer proposition. Ocado introduced branded product to lower the prices of own label products sold (customer proposition, Ocado Ltd). Porter identified three generic strategies to take the advantage of competitive forces like cost leadership, differentiation and focus strategies. According to porters generic strategies Ocado comes under the cost leadership, where it is trying to compete with the market by lowering the cost. It launches Tesco price match for customers to compare prices with Tesco before purchase. However Ocado is not wholly dependent on one strategy because customer often seeks more than price satisfaction. They look for product quality, style and timely deliveries. Ocado competed his competitors by providing the customers high quality of products, availability of products and delivering the products to customers on time. We use smart thinking and cutting-edge technology to keep honing our uniquely efficient delivery model. This helps us to drive down prices and guarantee exceptional value for money. We have a passion for delivering quality groceries in perfect condition and on time, while treating our customers with care and honesty. This helps us to share our vision of a different way of shopping: a better, greener and more convenient one (Mission Statement, Ocado Ltd). PIMS (Profit impact of marketing strategy) data and other surveys show, that the intermediary positions are indeed profitable and therefore successfully exploited by many firms. (Michael Cronshaw, Evan Davis and John Kay (1994), pp. 19-33) 3.4 B2B and B2C: Both terms are used with reference to the internet technology and commonly applied in e-businesses. Business 2 Business largely concern itself with supply chain management and allows the business to directly contact with the suppliers and distributors. While business 2 consumer concern the relationship between the customer and the supplier. It primarily concern to sell goods to end consumers. All such businesses are online businesses and Ocado is the best example for such type of relationships. In business 2 business Ocado use the internet for searching products catalogues, ordering from suppliers, making invoices and making online payments. In business 2 consumer Ocado uses its website to offer customers a wide range of products, providing information about prices of the products, delivery timing and everything they want to know about the products, offers and Ocado. 3.5 Trend Analysis: [The entire figures used below are taken from the annual reports of Ocado Ltd, Tesco and Waitrose (johnlewis partnership) 2007-2009 unless otherwise stated.] Purchase frequency: The online market is dominated by those buying on a relatively infrequent basis. On average online grocery shoppers use the channel twice per month Three in ten (30%) only shopped online on a very occasional basis e.g. in an emergency or for special occasions such as Christmas Only one in six (15%) online grocery shoppers had a heavy reliance on online and shopped once a week or more frequently Most online shoppers fall into the regular/top-up group A third (34%) buy food and groceries online every 3-4 weeks One in five (21%) purchased slightly more frequently, once every 1-2 weeks (Online grocery shopping, igd.com) Key Financial Performance Indicators: Average order size ( £): The average size of the order was increased in 2008 from  £112.17 to  £116.3 which indicated the attraction of consumers toward the online shopping. In 2009 the average order size is slightly low than the previous years but this did not mean the reduction of people trends towards online shopping because if order size decreases in this year on one hand on the other side the sales growth increases by 25% in this year. Average number of orders/week: The increase in number of orders in 2008 is 12% higher than the previous one while in 2009 the increase is 25% per week. This shows the sales of the Ocado increases and Ocado has the potential the to expand his business in the growing market of online shopping business. Average % product wastage: The average percentage of product wastage of Ocado decreases continuously from 2007 to 2009. This is because of the increased efficiency of the operations of the Ocado and handling its products more effectively. Another reason for low wastage is the usage of the new technologies and less involvement of manual handlings. CO2 Emission: Ocado has taken actions to lower its carbon footprint and reduce its environmental impact include: closed-loop grocery bag recycling, whereby when making a delivery, drivers offer to collect used bags from customers which are recycled within the UK to make new Ocado grocery bags; wasting significantly less food as a percentage of gross sales than any of its competitors; and signing up to the Climate Change Agreement (with the Carbon Trust), which places certain obligations on management to monitor and lower carbon usage. Ocado has co-developed two prototype electric powered vans, which are currently completing testing before being introduced into Ocados delivery fleet. (Environmental awareness, Ocado Ltd) CFC Efficiency: The customers fulfilment centre (CFC) efficiency increases over the period of time. This efficiency has been achieved by the introduction of highly automated warehouses and less involvement of manual work. The company is willing to expand the CFC capacity by building the second CFC and the spoke network in the near future. Green business: Being green is part of Ocados business model. This has been recognised in various awards.Ocado was voted Green Retailer of the Year 2009 in The Grocer Gold Awards, Large Retailer of the Year 2008 in the Online Green Awards and won Ethical/Green Practice 2009 at the IMRG E-Commerce Awards for Excellence. A traditional supermarket requires deliveries first to be made to a regional distribution centre and then to the supermarket itself. Customers then often drive to the supermarket in order to shop, and the supermarkets themselves require energy to be lit and heated and tend to have open fridges and freezers in an otherwise ambient environment.   Ocado delivers straight from the CFC to a customers kitchen, which eliminates much of the carbon emissions generated by traditional supermarkets and their stores, and also reduces the number of cars on the road. Each Ocado delivery van replaces a significant number of car journeys every day. (Environmental awareness, Ocado Ltd) 3.6 Ratio Analysis: Sales Growth: The sales revenue of the Ocado has been increasing since 2007. The sales revenue in 2007 was  £273m while in 2008 it was  £321m an increase of 15% was being recorded. Not only this also in 2009 the sales revenue of Ocado was  £402m with an increase of 25% than the previous one. When we compare the sales growth of Ocado with its competitor Waitrose, the sales growth is 7% and 5% in 2008 and 2009 respectively. Waitrose sales growth percentage is not even half of the Ocados percentage and we can analyse that people purchase the same products online rather than going to stores for it. The increase in the sales revenue of Ocado has been seen since it was incorporate this is because the behaviour of people towards the online shopping is being changed with the passage of time and as the grocery industry hides in itself a lot of potential to make profit. Ocado achieved this by using its long term strategies and by introducing customer fulfilment centre in which Ocado emphases on the ne eds of the customers. (Annual reports 2007-2009,Ocado Ltd) Gross profit margin: The gross profits of Ocado seem to be remaining same over the past few years although the sales revenue of the company increases over the period. This is because the company keep its prices same to keep its customers to pay less in the period of recession. In 2009 the gross profit margin of the Ocado decreases from 32% to the 30.6%, the reason for this is further decrease in the selling price without any decrease in costs of the products. It happened because Ocado launches its price match campaign with Tesco and Sainsbury. It is also due to the reason

Apple’s Financial Analysis Part 2

APPLE’S FINANCIAL ANALYSIS FOR THE YEAR ENDED September 27, 2008 Income Statement: a) Apple Inc uses multi-step income statement format. It organizes its operating section by using functional expense classification. b)There are no unusual items presented in Apple’s income statement. Also the company did not discontinue any of its operations, neither had any changes in accounting principles. The net income for 2008, 2007, and 200 is $4,834, $3,496, and $1,989 respectively. The net income has increased continually in past three years. Net income increased 38. 3% in 2008. Apple’s net income growth for 2007 was 75. 7%. The income statement doesn’t need restating. I also believe that Apple is not managing their earnings. The company’s revenue and earnings per share are undervalued and Apple's financials appear radically weaker than they actually are. It is because in April, 2007 they made a bad decision when announced that Apple will be using what is commonly referred to as the â€Å"subscription method of accounting† for sales of the iPhone where the sales revenue from the iPhone is deferred and recognized over a 24-month period instead of at the point of sale. When disregarding the deferred revenue mechanism of subscription accounting, Apple actually earned $7. 48 in EPS on $38. 041 billion in revenue. That compares to the $5. 36 in EPS on $32. 479 billion in revenue that Apple reported on a GAAP-basis. During 2008, the Company adopted the Financial Accounting Standards Board’s (â€Å"FASB†) Financial Interpretation No. (â€Å"FIN†) 48, Accounting for Uncertainty in Income Taxes—an interpretation of FASB Statement No. 109. FIN 48 changes the accounting for uncertainty in income taxes by creating a new framework for how companies should recognize, measure, present, and disclose uncertain tax positions in their financial statements. 09/27/08Restated 09/27/09 Net Sales32,47932,479 Cost Of Goods21,33421,334 Gross Profit11,14511,145 Selling & Adminstrative & Depr. & Amort Expenses4,8704,870 Income After Depreciation & Amortization6,2756,275 Non-Operating Income620620 Pretax Income6,8956,895 Income Taxes2,0612,061 Investment Gains/Losses00 Other Income/Charges00 Income From Cont. Operations4,8344,834 Extras & Discontinued Operations00 Net Income4,8344,834 2) Apple Inc recognizes revenue from sales when persuasive evidence of an arrangement exists, delivery has occurred, the sales price is fixed or determinable, and collection is probable. Revenue from service and support contracts is deferred and recognized ratably over the service coverage periods. Revenue is deferred for the fair value of the specified upgrade rights when offered. i. A/R turnover=Net Sales/Average A/R(net) A/R turnover2007=24,066/1637=14. 70 times A/R turnover2008=32,479/2422=13. 41 times ii. Allowance % A/R=Allowance/ Gross A/R Allowance % A/R2007=47/24,066=0. 0195 Allowance % A/R2008=47/32,479=0. 001445 iii. Average collection period= 365/ A/R turnover (or 365*A/R/Net Sales) Average collection period2007=365/14. 70=24. 82 (every 25 days) Average collection period2008=365/13. 41=27. 22 (every 22 days) The total sales revenues increased consistently for the past years. Net sales increased 43. 86% in 2008 compared with 2007 ($24,006 and $ 32,479 respectively), A/R have increased too by 47. 95% in 2007 compared to 20056 ($1637and $2,422 respectively). The company does not have looser credit policy, since it does not have credit accounts whatsoever. Apple has an ncreasing accounts receivable turnover which is a positive sign – showing the company is successfully executing its credit policies and quickly turning its accounts receivables into cash. The ratios calculated above cannot be taken into account because they do not represent the actual A/R for the company for entire year. 3)Inventory Costing: a)The company uses FIFO in costing its inventory. I believe that the company uses this method, because even though tax expense are higher, since the Cost of Goods Sold decrease by using the lower cost items, the net effect on the net income still result it net increase. The earnings per share also increase, as well as inventory in the balance sheet. If the cost of the inventories exceeds their market value, provisions are made currently for the difference between the cost and the market value. The Company’s inventories consist primarily of finished goods for all periods presented. If they use LIFO the net income would have been higher, it can benefit from tax savings and improve its cash flow. On other hand average cost achieves a net income somewhere in the middle. b)Looking at the vertical analysis of the Income Statement cost of goods sold has decreased to 0. 34% (from 66. 3 % in 2007to 65. 69% in 2008), and net sales increased by $8475. At the same time, looking at the horizontal analysis, while in 2008 COGS increased by nearly 39. 97% compared to 2007, sales increased only by 43. 86%, and in 2007 while GOGS increased by 15. 56%, sales increased by 24. 29%. This, in my opinion indicates inventory stock (50 items), and fast moving inventor y (7days). i. Inventory Turnover=(COGS)/(Ave. Inventory) Inventory Turnover2007= 15,852/(270+346)/2=51. 047? 51 items Inventory Turnover2008= 21,334/(509+346)/2=49. 904? 50 items ii. Gross Profit Percentage=Gross Profit/Net Sales Gross Profit Percentage2007=8,154/24,006=0. 3397? 33. 97% Gross Profit Percentage2008=11,145/32,479=. 3431? 34. 31% iii. Average Days in Inventory=365/Inventory Turnover Average Days in Inventory2007=365/51=7. 16 days Average Days in Inventory2008=365/50=7. 3 days c) Apple is doing extremely well in terms of inventory turnover, which is one of the lowest in the industry only 7days . While a sizable inventory can be important to coping with sudden surges in demand, excessive inventory is wasteful and can exacerbate financial problems if a new product is introduced before old inventory is cleared. Inventory is increased from 346 million in 2007 to 509 million in 2008. Because the sales are increased too, therefore it is an indication of heavy business activities, rather than the problem with sale of existing products. Gross profit margin is flat for year 2007 and 2008 at 34%. 4)Property, plant and equipment: a)Apple Inc uses the straight-line method of depreciation based upon the asset’s estimated useful life. b)Asset Turnover=Net Sales/Ave total assets Asset Turnover2007=24,006/[(25,347+17,205)/2)]=1. 1283 Asset Turnover2008=32,479/[(39,572+25,347)/2]=1. 0006 c)PPE has increased in the last year by $632 million. The company has purchased PPE in 2007 in the amount of $735 million and $1,091 million in 2008. In 2008 Apple declared a loss on disposition of property, plant, and equipment for $22 million, which has increased by $10 million since 2007(12million) 5) Liabilities a)Apple’s liabilities are composed by short-term debt, Accounts Payable, Accrued Expenses, Long-term debt, non-current liabilities. The major current and non-current liabilities accounts for the years of 2007 and 2008 are shown in the table below: September 27, 2008 September 29, 2007_ Current liabilities: Accounts payable $5,520 $4,970 Accrued expenses 8,572 4,310 Total current liabilities 14,092 9,280 Non-current liabilities 4,450 1,535 Total liabilities 18,542 10,815 b)Ratios: i. Debt Ratio=Total Liabilities/Total Assets Debt Ratio2008=18,542/39,572=0. 468564 or 46. 86% ii. Debt to Equity=Total Liabilities/Stockholders Equity Debt to Equity2008=18,542/21,030=. 8817 iii. Times interest earned=Income before income taxes and interest expense/Interest Expense Times interest earned2008=6,275/ 0 c)Ratios for Microsoft’s for year ended 06/30/2008 i. Debt Ratio2008=36,507/72,793=0. 015 or 50. 15% ii. Debt to Equity2008=36,507/ 36,286=1. 0061 iii Times interest earned2006=22,492/0 These ratios are derived from Dillard’s financial statements that can be found on http://www. sec. gov/Archives/edgar/data/789019/000119312508162768/d10k. htm. Looking at Apple’s and Microsoft’s debt ratios, I can say that Microsoft’s debt ratio is 3. 29% higher, or it has 3. 29% more debt compared to its total assets. I think that 50. 15% indicates that Apple’s can be categorized a company of moderate risk level. Comparing Apple’s debt to equity ratio of . 8817% to Microsoft’s ratio of 1. 61%, I can tell that Apple’s are doing well, since it uses $. 88 derived from liability in addition to every $1 of equity in its business, taking advantage of the lower cost of debt for financing projects to relatively more expensive equity financing. Microsoft’s ration is only 0. 1793% lower, which indicates a normal debt ratio for Apple Inc. Comparing Apple’s ratio results to Microsoft’s, gives me the confidence to say that Apple’s liabilities fall into the industry’s average. 6)Stock price a)Yahoo Finance chart PRICE DateOpenHighLowCloseAvg VolAdj Close* Sep-08172. 40173. 50120. 68128. 439,370,800128. 24 Aug-08159. 90180. 45152. 91169. 5323,273,800169. 53 Jul-08164. 23180. 91146. 53158. 9533,096,200158. 95 J un-08188. 60189. 95164. 15167. 4434,281,100167. 44 May-08174. 96192. 24172. 00188. 7532,650,300188. 75 Apr-08146. 30180. 00143. 61173. 9538,841,700173. 95 Mar-08124. 44145. 74118. 00143. 5042,313,100143. 50 Feb-08136. 24136. 59115. 44125. 0246,645,400125. 02 Jan-08199. 27200. 26126. 14135. 3662,108,100135. 36 Dec-07181. 86202. 96176. 99198. 0831,771,400198. 08 Nov-07188. 60192. 68150. 63182. 2246,553,700182. 22 Oct-07154. 63190. 12152. 93189. 9537,438,400189. 95 Sep-07153. 44154. 60152. 75153. 4743,935,800153. 47 b)In my opinion there is a strong positive correlation between the two charts. There are several noticeable changes of Apple’s stock price over the last year. In October,2007 Apple’s stocks increases to $189. 95 from $153. 47in Sept. The increase was due people’ interest to get their hands on Mac OS X Leopard, the newest version of Apple's operating system. After that since markets in general, and tech stocks in particular, were hit hard by poor earnings reports posted by Intel, Apple’s stock price dropped in first weeks of November. In the begging of January 2007 the stock dropped to $126. 14 after Jobs announced iphone sales to date of 4 million, and AT&T said that only 3. 9 million were activated, which means 100,000 iphones still in their Christmas wrapping or more likely unlocked. The company’s stock decline in the first quarter was due to an antitrust suit which has been filed against Apple accusing the company of illegally maintaining a monopoly in the digital music market by failing to support Microsoft’s Windows Media Audio format. In May Stock reached $188. 55 because Apple reported its second quarter earnings, and its revenues of $7. 05 billion and a net profit of $1. 05 billion for the quarter. In second quarter Apple had slightly decreases and increases in stock value. On July 22, 2008 Apple reported its third quarter earnings results. The company earned $7. 46 billion during the quarter, a 37% increase from the same quarter 2007. Last month of the third quarter the company had a down t urn to $ 120. 68 per stock. 7) Final Review I believe that the company has strong results in the industry that it operates. Compared to its direct competition, Apple Inc is doing well. I also believe that Apple Inc is trying to grow, and became a leader in consumer electronics market. Based on my analysis, I agree with the company’s strategy of increasing investment in Research and Development. Specifically, I suggest the sometime down the line after provider contracts are over and equipment and technology costs have gone down Apple should enter the wireless cellular provider arena. This would allow Apple to recoup all profits instead of sharing/splitting profits with the providers. Customer’s buy the hardware/phone at cost rather than the current model of wireless provider subsidized phones at the expense of expensive plans. They should offer a quality engineered, eco-friendly, workplace computer that is economically practical for corporations and large organizations. However due to Apple’s unique designing nitch and brand loyalty we feel they have the ability to capture a portion of the bottom market that has always wished to own an Apple without diluting its luxury products image. Apple Inc would do a lot better if it was not in the declining economic environment as of now. Increasing questions about Jobs' health and lack of transparency into a succession plan are decreasing the company’s stability. Contrary of Wall Street's expectations Apple reports earnings of $1. 61 billion ($1. 78 per share), which was up 2 cents a share from the year earlier period. Revenue also increased from $9. 6 billion to $10. 17 billion. With stock price of $102 â€Å"Apple Inc. shares have catapulted back atop the century mark today after brokerage firm FTN Equity upgraded the stock from â€Å"neutral† to â€Å"buy. â€Å"We now believe investors are more prepared for the Chief Executive taking a smaller role and we have not seen the multiple compression we expected,† wrote analyst Bill Fearnley, Jr. † I believe that by looking at the past performance of Apple, one can derive a future prognosis of Apple’s performance, bound to the industry development. I believe that an investor may want to buy Apple’s shares, since it looks like i t is a strong company, and take advantage of the current low stock prices. I also would recommend to an investor not to invest all of his money in Apple, because of the uncertainty of the market.

Essay on Licensure of “Bachelor Level Social Workers”

Essay on Licensure of â€Å"Bachelor Level Social Workers† Abstract Social workers have become increasingly important in the modern societies especially those governed by democracy. This is because welfare states have realized the important link that social workers form between the leadership and the governed. Through them, political and economic goods in the state are allocated to the community making it possible for individuals to enjoy the results of their technology, political, social and economic gains. The recent problem has been the presence of many players in the sector. Some students who enroll for licensure of bachelor level social workers have a sufficient amount of internship and field deployment while other colleges have not implemented the same practice in their institutions of higher learning. Hence, there has been a need to differentiate these categories of applicants so that those who have some sufficient experience levels can undergo lesser amount of time that their counterparts. Key words: (license, bachelor level, limited license and social work) Stage 1: Getting Involved Licensure as a bachelor level social worker is personally important when in the job market looking for a job in the contemporary society where getting a job is becoming increasingly becoming more difficult with each passing day. Before getting licensed, all the licensing boards across the various states require that one should have done a field replacement or internship. This is both personally and professionally important in that this carries the power and weight of paid employment and hence counts as the much needed experience in ones resume. Therefore, during job interviews, relating that experience become important and necessary in attaining that dream job. The job market has changed a lot in the past few decades because unlike in the past, current prospective employers are increasingly being interested on ones skills and experience on the job you are asking for and not just limited to ones capability in the classroom. Therefore, on that personal level, licensure as a bachelor level social worker broadens and increases ones change of getting a job in the current frustrating job market. Professionally, by attaining that licensure, the accredited bachelor has to graduate on those programs that meet national standards for the course work, instructions and the faculty. This is important in developing and maintaining the quality of services offered by the social workers across the nation. This makes it possible for individuals from different areas or even states to be able to work together in various forums meant at maintaining the quality of the service in the nation. In a nutshell, on a personal level, the licensure means that I can get a good job in the sector relatively fast and easy and have the knowledge and experience to do it well. This is different from someone who has not been licensed as they face a relatively bigger challenge in the competition in attracting their required jobs and even bigger challenges in establishing themselves in those positions due to their limited experience on top of their classroom knowledge (Barker Branson, 2000). Most states mandate licensure for Bachelor Social Work (BSW) because the stakeholders have realized its immense value. For professional values, the stakeholders know that a plain bachelor’s level education is weak as an entry to the practice. In fact, majority of the boards do not recognize it as an entry level to the practice (Michigan, 2005). Hence, by requiring that candidates finish internships and or field placement before being accredited, the stakeholders in the sector are ensuring competency in the whole sector. In the end, it is the community that is receiving the service that ultimately benefits from this level of competency in social work in the communities. In winding up this stage, it has been realized that licensure as a bachelor social worker works for the benefit of both the individual and the social work profession as a whole. One gets that inner satisfaction that he/she is qualified and competent in their work while the profession as a whole reaps the benefit of improving and maintaining the quality of service that it is providing to the society. Due to the importance of the sector in the society, provision of utmost care and quality becomes important and the licensure of bachelor level social workers is important in attaining and maintaining those levels of competency expected by the recipient communities. This is in conformity to my values on doing something to the best of my ability if it is worth doing at all. Social work entails dealing with people who have feelings and ought to be treated with utmost care and respect. Stage 2: Understanding the Issue The issue is that in the recent past, degree graduates have been finding it extremely difficult in finding jobs in this economy and a bad market due to lack of experience on their professional careers. The social work sector is very important in every society and the need to set up standardized quality service has long been overdue. This is because the service covers all the members of the community irrespective of race, religion, sex and political affiliations among others (Lau, Krase, Morse, 2008). This affects the â€Å"new† practitioners, those who have recently wound up their social work bachelor degree in that it will assist them by providing them with the all important chance of putting what they have learned in the class into practice while still being guided closely in the early stages. Here, the bachelor’s license is limited in that it provides them with that opportunity of performing bachelor social works tasks at the supervision and guidance of the master’s social work. The full licensure comes after 4,000 hours of practice covered in at least 2 years during the supervised practice. It has further been broken down to those 4,000 total hours that in a year should not exceed 2,000. The limited license mentioned above is issued for a practice period extending for not more than 1 year and cannot be renewed after the period of 6 years (Neukrug, 2007). Therefore, one has to complete this licensure activity in 6 years or less. On top of being supervised by a master’s social worker, to ensure quality and effectiveness in attaining of the license, it has been regulated that one should not take more than 40 hours in a week. Whether in group or individual setting, 4 hours in a month should be dedicated to supervisory review with at least 1 hour being specifically set aside for individual review. The need to standardize and raise the quality of social work has not had a serious policy or solution attempts in the past. However rigorous this exercise is, it is positively geared towards helping both the individual social worker and the society benefitting (Kirst-Ashman, 2009). Surprisingly, both the liberals and the conservatives do agree that it is in the best interest that the policy should be implemented to the latter. Each state therefore has had to form a board to oversee the formulation and the implementation of the specified guidelines. On top of the solution outlined in bringing standardization and quality into social work, this discussion proposes a standard examination for the candidates across all the cooperating states after the 4,000 hours of field deployment. This would be a good indication that all the licensed social workers are level with each other. Hence, whichever state that the social worker may be called to serve, he/she will be better equipped with knowledge and experience to deliver quality service to the recipient community (Beaulieu, 2002). This is very important considering that job opportunities have become rare and one may often find a job in a different community from which they have lived and grown. One is left to wonder why it took so long to arrive at this wonderful solution that had been evading the sector for so long. Stage 3: Planning However good this policy has been, there has been a major problem that has been associated with the length of time that the various licensing institutions have mandated. To the majority of the candidates, the complaint has been that during their undergraduate studies, apart from the theoretical concepts learnt in class, ample time has been dedicated to gathering of experience that is however not indicated in the academic transcripts. This has raised the concern that recent graduates have some significant level of experience at some master’s level supervisors have reported (Roberts, 2009). These categories of trainees do insist that the limitation of time needed to attain the license is unrealistic. A whole two years seems like a lot of time to those social workers who insist they have a certain level of field experience. The solution seems to lie in a type of time differentiation that stakeholders should make to allow this category of practitioners to tale less time before they can be licensed, say about one year. However, the problem arises when trying to distinguish who has attained this level of experience. The primary approach to this distinction lies in a practical examination. The master’s supervisors from experience should exactly be able to gauge the level of practical experience among the â€Å"new† practitioners. Hence, in this standard practical exam, the supervisors should determine those who will be enrolled for a one-year period and those who require two years of field work. This plan can therefore be of benefit to those experienced candidates while still being capable of improving and maintaining the quality of service in the social sector. Of the 4 types of advocacy, I would use the social justice advocacy. By adoption of this advocacy, the series of actions that the plan would take in to highlight the social change expected from the licensure of bachelor level social workers to what â€Å"should be† instead of â€Å"what is.† This new social status would be more just and more decent (Kirst-Ashman, 2009). The earlier civilizations were characterized by a form of police states and autocracy but the contemporary society is governed of the basis of the consent of the people. Hence the welfare state would easily be capable of providing social-political goods through the social work. This advocacy is good and adequate because it gives venues of questioning the way in which social policies are administered, is engaging and inclusive, open to public argument, easy to propose solutions to the present policies in the sector and is important in targeting the political systems that are especially unresponsive to th e needs of the people. The goal of this advocacy is to engage the political systems in the welfare of the society considering that democratic governments operate under a social contract with the governed. Hence, political goods should easily be trickled to the society for this relationship and contract to work in the best interest of the governed society. The targets of the advocacy are the government through the relevant ministries and the community. The tactic here entails lobbying for education institutions to make it compulsory for every student in their social work faculties to undergo field practice. Also, through these faculties from different organizations, they can then lobby for reduction of the time needed to attain the unlimited license from the licensing boards. This would hasten the period between getting a licensure of bachelor level social workers and the licensure of master’s level social works which is the target of most candidates. Stage 4: Advocating As already pointed out, the authorities are often likely to ignore the bids of an individual in advocating for the proposed strategy. Therefore, to amass the power needed to arm-twist the boards, I would pass my message through the university and college faculties dealing in social work. The faculties are led by professors who apart from just being professors are political and social leaders in the government and the communities. Due to their influence, chances are that the boars will have no alternative but to listen to them. Experience has taught that governments and other authorities have to be pushed so as to listen. However, this being an academic and social agenda, demonstrations or other forms of mass groups may be a bit orthodox and the stakeholders may not agree (Michigan Department of Licensing and Regulatory Affairs, 2011). Hence, I would write and push the universities and college faculties to push the governments in return. In pursuing this avenue, I would convince the professors in the faculties that time has become of essence in pursuit of the license and as stakeholders, being the tutors to the students; they are capable of positively being involve in solving the problem. I would choose this avenue because despite its slowness, it is effective. History has showed that when dealing with the government authorities, since all of them are slow in implementing the advocacies forwarded to them, it is of utmost importance to ensure that the changes are thorough and conclusive. Therefore, the professors in the departments stand at this vantage position to bring authority and the needed credibility in this policy change. Due to their privileged position especially in matters relating to education, chances are that one will succeed in this agitation. A letter, or a couple of letters followed up by official visits with an accompanying professor would most likely do the trick. This may take a few trips to the offices of the boards with the need to explain some of the things explained in the letter by word of mouth. The main goal would be centered around the need to lessen the burden of qualification exerted on the candidates while never loosing the focus on the quality of service that it meant for the social consumers who ultimately need the services of a qualified professional social worker. My argument would thus be based on those grounds of proving that it is possible to minimize the 2-year period needed before attaining the license without compromising on t he quality of service. In case of delay further complications, I would agitate for the faculty to approach the top management across the various universities especially the Vice Chancellors who serve other important political, economic and social offices across the states. Past experience has proved that with the right argument and conviction, these are the necessary stakeholders who are crucial in setting up changes rolling in the social institutions. Stage 5: Evaluating To be realistic especially in the initial stages of the advocacy, I would consider it a success if the board gives the higher learning institutions a place in the determination of those students that have taken previous field experience activities and hence do not need to undergo the full two years. This is a big agenda and therefore every bit of it is a success and it is practically sensible to think that the full implementation may take half or a full decade (Manfield University, 2011). The final piece of success would lie when there would be a clear-cut policy that is clearly documented and published that gives the colleges and universities the mandate to forward the names of the candidates who have gone through their curriculum who need a two-year period and those who need a one-year period before they can be awarded with a licenses of bachelor level social worker. To determine whether my advocacy tactics based on social justice have been successful, I would take a survey across various communities. Since all this advocacy is geared towards provision of better quality services to the communities that the social worker may be commissioned to attend that often may be different from where they may have been brought up, interviews and questionnaires would be important in taking this surveys. This being an ongoing process, I would expect that the level of satisfaction should be increasing with each successive survey. By giving satisfaction levels among the members of the community, if I were to compare the results in a form of a graph, I would surely expect that the levels would be higher with each survey. The survey would be carried out twice per year so as to closely monitor the progress in the communities so that this change may not negatively affect the beneficiaries. Consequently, the survey would look at the satisfaction and qualification levels among the aspirant bachelor level social workers. This is because, being the principle agents distributing the government political goods as advocated by the principle of social justice, they are very critical in the level of care availed to the people. The analysis of the progress therefore would be based on these graphs that should show some linear progress. In case the graph shows a linear decline in the satisfaction of either the community members or the college graduates, a thorough look at the advocacy would have to be taken before it turns out to be a disaster in the making. Since no previous policy change similar to this has been taken before, the frequency of the survey would be very important (Dyeson, 2004). In evaluation of all the other methods of determining the progress of the adopted strategies, this presents the best method where no previous records exist especially considering this is a new form of advocacy. Also, due to the importance of the special position that the licensing boards take among the monitoring agencies, I would compare my monitoring method with those of the boards to see if they are both tallying. One cannot underestimate the legitimacy and the power that the boards have on the communities they serve and regulate. From study of the relevant data, it is clearly realized that the people have a lot of faith in the boards that have so far attained a commendable level of success. Therefore, they are to be brought on board in the monitoring process because they bring the legitimacy needed to every project that is directed towards the communities in each state. Stage 6: Ongoing Monitoring Ongoing monitoring is very important for any project because it prevents backsliding of the gains attained as a result of the advocacy. From previous experience, among the people administering change, some roles have come to be counterproductive in administration of change. One of those roles has been the refusal by the authorities to accept other related degrees for entrant applicants for the limited license in each group, be it at the bachelor’s or master’s level. Other related degrees that are closely related to this degree are community development degree and nursing. Both these qualified individuals closely work with various groups in the society and the fact that the authorities are refusing new applicants from entering the programs for licensure of bachelor level social workers from these two programs should be revised (Beaulieu, 2002). The essence of the limited license for the first one year is that applicants can show competence before being allowed to proceed to the next year. If individuals from these two other degree programs can prove that they are competent to proceed, they should be allowed to enroll on an ongoing monitoring process. Like all other social projects, this process faces funding shortcomings not because the money is not available but due to the bureaucratic red-tape that characterizes all the programs that enjoy government or local authority funding. The lack of political backing may prove to be costly in relation to time because it would consume a lot of time trying to identify a reliable leader to agitate for our funding. This is not to ignore the fact that with the proper channels funding should come but the fact that those official channels are slow and the presence of a notable policy implementer or political leader would hasten the process of accessing funds. The continuous monitoring of change should be the responsibility of the boards that are licensing the candidates. This is because they have the adequate funds that can sustainably be used in the monitoring process (Karen, Brewer, Carlson, 2008). The ability of the board to continually monitor the progress is due to the reliable funding that the boards already enjoy from the authorities and even the federal government. Just like any other policies that have been witnessed before, if the changes failed to be implemented, I would start afresh the process of policy formulation after doing the necessary corrections. Policies have almost the same cycle of formulation that originates when a problem is realized with a policy ending at the point where the policy is implemented. In case of failure for implementation, a totally different approach of solving this issue would be started or the necessary corrections would be made on the initial solution after negotiations among the stakeholders.

The Cameramans Revenge by Wladyslaw Starewicz - Free Essay Example

Sample details Pages: 4 Words: 1107 Downloads: 3 Date added: 2019/03/27 Category Society Essay Level High school Tags: Revenge Essay Did you like this example? In this essay I will be talking about The Cameramans Revenge by Ladislas Starevich, which is a widely known and very notable stop motion animation that was something very new and very impressive for its time. I chose this piece for this essay as I admire the animators history and because I consider this animation to be very impressive. It stood out to me when I first encountered it and it has become a reference for me and my studies of animation. Don’t waste time! Our writers will create an original "The Cameramans Revenge by Wladyslaw Starewicz" essay for you Create order In this paper I will go through some of Starevichs past and the many aspects of his famous animation that has paved a path of inspiration for other animators. Originally born in Moscow, Russia, in 1882 to parents who were of Polish and Lithuanian decent, Ladislas Starevich began to grow to become an animator that has inspired many others that came after him. Although he was born in Moscow, he had later moved to Lithuania (which at the time was still part of the Russian empire). He began working as a director in the Natural History Museum in 1910 as one of his passions (aside from graphic design) was entomology, the study of insects. During his time here, he discovered his budding interest in animation, particularly stop motion, and this is where he began to experiment with using insects as puppets. The following year, he returned to his birthplace where he created many creative animations such as The Beautiful Leukanida (1912) and The Night Before Christmas (1913) which was based off Nikolai Gogols book of the same title. When the civil war struck, he fled Russia and travelled to a few cities before he settled down in political exile in a community of Russian immigrants in Paris. The Cameramans Revenge is a creative 13 minute long stop motion animated film that involves a story that surrounds the topic of extramarital affairs and adultery, which at the time was not a heavily discussed topic in the public eye . Although it features such adult topics, it is considered a comedic film due to the use of classic cartoon style fight scenes and exaggerations of the characters actions for a comedic touch in the piece. The Cameramans Revenge is one of Starevichs earliest works that survived the test of time and is considered possibly one of his most famous works to this day, or at least the most notable. To summarise the story as best I can, the animation follows a pairing of beetles (Mr. and Mrs. Beetle) who have become bored of their partnership and seek extramarital company from outside sources. Mr Beetle stumbles upon a lover at a popular burlesque parlour (she is a dragonfly who is a popular dancer at the parlour and has a very jealous ex-boyfriend). This ex-boyfriend of hers is Mr. Grasshopper who decides he wants revenge on the budding lovers. The Grasshopper stalks his girlfriend and her new companion to the hotel that they are staying in, and here he films their escapade through the keyhole of their hotel room. Mr Beetle spots this and tries to catch him before he can make an escape but the Grasshopper luckily gets away. Meanwhile, Mrs. Beetle is having an escapade of her own at home with an artist, but when Mr. Beetle gets home he catches them in the act, kicking out the artist and eventually forgiving his wife but does not reveal what he did earlier. Later they go to a fi lm screening together and it just so happens that the film that is being screened is Mr. Beetles affair up on the big screen for all to see. This animation could possibly be seen as highly controversial and offensive in todays society but during Starevichs time this was a rather comedic animation that in essence jokes about the idea of double standards, adultery and voyeurism . Despite the adult topics, the animation isnt just known for the story, but it also is a very prominent example of early stop motion animation, and a very unique and creative example of it too. The animated insects have rather fluid and human-like movements, thanks to Starevichs careful observation of how bugs move and interact as well as comparing it to how we as humans move. Because of this he crafted a detailed animation that has quite an interesting anthropomorphic style of movement and character expression and interaction. Because the film was a silent film, his portrayal of the story relied heavily on the insects movements and interactions and he delivered exactly what was needed to make the animation successful. He essentially created a human story that was simple to understand without spoken word while still keeping some qualities and natural movements of the insects that he used which greatly helped with the comedic effect of the animation. Starevich also used colour and music to help portray the story but used just enough of it to not take away from the movements of the animation too much. We all know that colours have somewhat of a psychological effect when watching a film or animation as it is used to help portray emotions and atmosphere within certain scenes (for example blue is associated with sadness and is often the primary tint or colour in a sad scene). He used certain colours over key scenes to help viewers understand the emotions of the scenes and connect it with the characters actions and feelings. An example of this would be the scene in which Mr. Grasshopper is filming, the primary colour that is seen during this part is red, some argue the meaning of this colour at this scene but I believe it sits between anger and lust, and that Starevich chose it so that viewers can choose who to sympathise with, Grasshopper or Mr. Beetle. Alongside the colours in various scenes, he also used music to further immerse pe ople into the story of this animation. Although it is very basic, instrumental pieces, it really draws ones attention to the atmosphere of each scene, further helping the depiction of the story. Starevich was not the first stop motion animator in his time but considering his many works he certainly was one of the most creative. Animators to this day consider him an inspiration for their works. His most famous animation The Cameramans Revenge is widely known and admired animation due to its creativity in content and production methods, the use of anthropomorphised insects, music and colour and striking storyline. Overall I really enjoy this film due to how different it was to any others in his time, and I feel like it is a wonderful inspiration for my own studies in animation and stop-motion.

Writing For Change The World - 900 Words

Writing is Stupid This is stupid! Why do we even have to write essays, what’s the point? How do I even start this? That is what my writing and thought process consist of. I complain and procrastinate until the last minute, that’s why this is being done the night before the due date. I’m just like many other students according to Gary Goshgarian introduction to Anne Lamott’s article, â€Å"Getting Started†, whose â€Å"biggest writing challenge is simply getting started† (Goshgarian, 94). Along with many of my other challenges with writing, I formed the habit of trying to impress my readers with big words instead of just getting to the point? Richer Lederer stated in his article, â€Å"The Case of Short Words† that the strength, grace, and charm of small words tend to be overlooked by bigger words (Lederer, 104). What does writing do for me, what is the reason for my writing? Mary Pipher’s article, â€Å"Writing to Change the World† answere d these questions for me. Writing can impact you readers in ways we may not know. All of these articles provide me with the answers to my question. Writing is a powerful tool used to get a message and argument across; you just have to start writing and it is anything but stupid. The only thing holding me back from writing an essay is trying to figure out how to start it. With me, essays have to be a perfect art work, with a brilliant beginning and a polished finish. Formatting this artwork however, has proven to be as difficult â€Å"as bathing a cat† (Lamott, 95).Show MoreRelatedThe Importance Of Digital Writing1613 Words   |  7 PagesDo you text or post on social media? Most people don’t know, but, that is digital writing. You may have thought that it was more advanced and had certain requirements to be considered digital writing, however any writing that can be accessed online or on a computer is categorized as digital writing. 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Streams of Silver 14. Star Light, Star Bright Free Essays

string(163) " that the sight of yer fair city has bringed new life into me weary heart!† The guards hardly heard him, intent upon the drow, who had pulled back his cowl\." Wulfgar set Regis and Bruenor down on a mossy bed in a small clearing deeper in the wood, then toppled over in pain. Drizzt caught up to him a few minutes later. â€Å"We must camp here,† the drow was saying, â€Å"though I wish we could put more distance†¦Ã¢â‚¬  He stopped when he saw his young friend writhing on the ground and grasping at his injured leg, nearly overcome by the pain. We will write a custom essay sample on Streams of Silver 14. Star Light, Star Bright or any similar topic only for you Order Now Drizzt rushed over to examine the knee, his eyes widening in shock and disgust. A troll’s hand, probably from one of those he had hacked apart when Wulfgar rescued Bruenor, had latched on to the barbarian as he ran, finding a niche in the back of his knee. One clawed finger had already buried itself deep into the leg, and two others were even now boring in. â€Å"Do not look,† Drizzt advised Wulfgar. He reached into his pack for his tinderbox and set a small stick burring, then used it to prod the wretched hand. As soon as the thing began to smoke and wriggle about, Drizzt slid it from the leg and threw it to the ground. It tried to scurry away, but Drizzt sprang upon it, pinning it with one of his scimitars and lighting it fully with the burning stick. He looked back to Wulfgar, amazed at the sheer determination that had allowed the barbarian to continue with so wicked a wound. But now their flight was ended, and Wulfgar had already succumbed to the pain and the exhaustion. He lay sprawled unconscious on the ground beside Bruenor and Regis. â€Å"Sleep well,† Drizzt said softly to the three of them. â€Å"You have earned the right.† He moved to each of them to make sure they were not too badly hurt. Then, satisfied that they would all recover, he set to his vigilant watch. Even the valiant drow, though, had overstepped the bounds of his stamina during the rush through the Evermoors, and soon he too nodded his head and joined his friends in slumber. Late the next morning Bruenor’s grumbling roused them. â€Å"Ye forgot me axe!† the dwarf shouted angrily. â€Å"I can’t be cutting stinkin’ trolls without me axe!† Drizzt stretched out comfortably, somewhat refreshed, but still far from recovered. â€Å"I told you to take the axe,† he said to Wulfgar, who was similarly shaking off his sound slumber. â€Å"I said it clearly,† Drizzt scolded mockingly. â€Å"Take the axe and leave the ungrateful dwarf.† â€Å"‘Twas the nose that confused me,† Wulfgar replied. â€Å"More akin to an axe-head than to any nose I have ever seen!† Bruenor unconsciously looked down his long snout. â€Å"Bah!† he growled, â€Å"I’ll find me a club!† and he tromped off into the forest. â€Å"Some quiet, if you will!† Regis snapped as the last hint of his pleasant dreams flitted away. Disgusted at being awakened so early, he rolled back over and covered his head with his cloak. They could have made Silverymoon that very day, but a single night’s rest would not erase the weariness of the days they had spent in the Evermoors, and on a tough road before that. Wulfgar, for one, with his injured leg and back, had to use a walking stick, and the sleep that Drizzt had found the night before had been his first, in nearly a week. Unlike the moors, this forest seemed quite wholesome. And though they knew that they were still in the wild lands, they felt safe enough to stretch out the road to the city and enjoy, for the first time since they had left Ten-Towns, a leisurely walk. They broke out of the forest by noon of the next day and covered the last few miles to Silverymoon. Before sunset, they came over the final climb, and looked down upon the River Rauvin and the countless spires of the enchanted city. They all felt the sensation of hope and relief when they glanced down upon that magnificent sight, but none felt it more keenly than Drizzt Do’Urden. The drow had hoped from the earliest planning of their adventure that its path would take him through Silverymoon, though he had done nothing to sway Bruenor’s decision in choosing a course. Drizzt had heard of Silverymoon after his arrival in Ten-Towns, and were it not for the fact that he had found some measure of tolerance in the rugged frontier community, he would have set back at once for the place. Reknowned for their acceptance of all who came in search of knowledge, regardless of race, the people of Silverymoon offered the renegade black elf a true opportunity to find a home. Many times he had considered traveling to the place, but something within him, perhaps the fear of false hope and unfulfilled expectations, kept him within the security of Icewind Dale. Thus, when the decision had been made in Longsaddle that Silverymoon would be their next destination, Drizzt had found himself squarely facing the fantasy he had never dared to dream. Looking down now on his one hope for true acceptance in the surface world, he courageously forced his apprehensions away. â€Å"The Moonbridge,† Bruenor remarked when a wagon below crossed the Rauvin, seemingly floating in mid-air. Bruenor had heard of the invisible structure as a boy, but had never seen it firsthand. Wulfgar and Regis watched the spectacle of the flying wagon in blank amazement. The barbarian had overcome many of his fear’s of magic during his stay in Longsaddle, and he was truly looking forward to exploring this legendary city. Regis had been here once before, but his familiarity with the place did nothing to lessen his excitement. They approached the guard post on the Rauvin eagerly, despite their weariness, the same post that Entreri’s party had passed four days before, with the same guards who had allowed the evil group to enter the city. â€Å"Greetings,† Bruenor offered in a tone that could be considered jovial for the dour dwarf. â€Å"And know ye that the sight of yer fair city has bringed new life into me weary heart!† The guards hardly heard him, intent upon the drow, who had pulled back his cowl. They seemed curious, for they had never actually seen a black elf, but, they didn’t appear too surprised by Drizzt’s arrival. â€Å"May we be escorted to the Moonbridge now?† Regis asked after a period of silence that grew increasingly uncomfortable. â€Å"You cannot guess how anxious we are to view Silverymoon. So much we have heard!† Drizzt suspected what was forthcoming. An angry lump welled in his throat. â€Å"Go away,† the guard said quietly. â€Å"You may not pass.† Bruenor’s face reddened in rage, but Regis cut off his explosion. â€Å"Surely we have done nothing to cause such a harsh judgement,† the halfling protested calmly. â€Å"We are simple travelers, seeking no trouble.† His hand went to his jacket, and to the hypnotic ruby, but a scowl from Drizzt halted his plan. â€Å"Your reputation seems to outweigh your actions,† Wulfgar remarked to the guards. â€Å"I am sorry,† replied one, â€Å"but I have my duties, and I see them through.† â€Å"Us, or the drow?† Bruenor demanded. â€Å"The drow,† answered the guard. â€Å"The rest of you may go to the city, but the drow may not pass.† Drizzt felt the walls of hope crumbling around him. His hands trembled at his sides. Never before had he experienced such pain, for never before had he come to a place without the expectation of rejection. Still, he managed to sublimate his immediate anger and remind himself that this was Bruenor’s quest, not his own, for good or for ill. â€Å"Ye dogs!† Bruenor cried. â€Å"Th’ elf’s worth a dozen of ye, and more! I owe him me life a hundred times, and ye think to say that he’s not good enough for yer stinking city! How many trolls be layin’ dead for the work of yer sword?† â€Å"Be calm, my friend,† Drizzt interrupted, fully in control of himself. â€Å"I expect as much. They cannot know Drizzt Do’Urden. Just the reputation of my people. And they cannot be blamed. You go in, then. I will await your return.† â€Å"No!† Bruenor declared in a tone that brooked no debate. â€Å"If ye can’t go in, then none of us will!† â€Å"Think of our goal, stubborn dwarf,† Drizzt scolded. â€Å"The Vault of Sages is in the city. Perhaps our only hope.† â€Å"Bah!† Bruenor snorted. â€Å"To the Abyss with this cursed city and all who live here! Sundabar sits less than a week’s walking. Helm, the dwarf-friend, will be more inviting, or I’m a bearded gnome!† â€Å"You should enter,† Wulfgar said. â€Å"Let not our anger defeat our purpose. But I remain with Drizzt. Where he cannot go, Wulfgar, son of Beornegar, refuses to go!† But the determined stomps of Bruenor’s stocky legs were already carrying him down the road back out from the city. Regis shrugged at the other two and started after, as loyal to the drow as any of them. â€Å"Choose your camp as you wish, and without fear,† the guard offered, almost apologetically. â€Å"The Knights of Silver will not disturb you, nor will they let any monsters near the borders of Silverymoon.† Drizzt nodded, for though the sting of the rejection had not diminished, he understood that the guard had been helpless to change the unfortunate situation. He started slowly away, the disturbing questions that he had avoided for so many years already beginning to press in upon him. Wulfgar was not so forgiving. â€Å"You have wronged him,† he said to the guard when Drizzt moved away. â€Å"Never has he raised sword against any who did not deserve it, and this world, yours and mine, is better off for having Drizzt Do’Urden about!† The guard looked away, unable to answer the justifiable scolding. â€Å"And I question the honor of one who heeds to unjust commands,† Wulfgar declared. The guard snapped an angry glare on the barbarian. â€Å"The Lady’s reasons are not asked,† he answered, hand on sword hilt. He sympathized with the anger of the travelers, but would accept no criticism of the Lady Alustriel, his beloved leader. â€Å"Her commands follow a righteous course, and are beyond the wisdom of me, or you!† he growled. Wulfgar did not justify the threat with any show of concern. He turned away and started down the road after his friends. Bruenor purposely positioned their camp just a few hundred yards down the Rauvin, in clear sight of the guard post. He had sensed the guard’s discomfort at turning them away and he wanted to play upon that guilt as strongly as he could. â€Å"Sundabar’ll show us the way,† he kept saying after they had supped, trying to convince himself as much as the others that their failure at Silverymoon would not hurt the quest. â€Å"And beyond that lies Citadel Adbar. If any in all the Realms know of Mithril Hall, it be Harbromm and the dwarves of Adbar!† â€Å"A long way,† Regis commented. â€Å"Summer may run out before we ever reach the fortress of King Harbromm.† â€Å"Sundabar,† Bruenor reiterated stubbornly. â€Å"And Adbar if we must!† The two went back and forth with the conversation for a while. Wulfgar didn’t join in, too intent on the drow, who had moved a short distance away from the camp right after the meal – which Drizzt had hardly touched and stood silently staring at the city up the Rauvin. Presently, Bruenor and Regis settled themselves off to sleep, angry still, but secure enough in the safety of the camp to succumb to their weariness. Wulfgar moved to join the drow. â€Å"We shall find Mithril Hall,† he offered in comfort, though he knew that Drizzt’s lament did not concern their current objective. Drizzt nodded, but did not reply. â€Å"Their rejection hurt you,† Wulfgar observed. â€Å"I thought that you had accepted your fate willingly. Why is this time so different?† Again the drow made no move to answer. Wulfgar respected his privacy. â€Å"Take heart, Drizzt Do’Urden, noble ranger and trusted friend. Have faith that those who know you would die willingly for you or beside you.† He put a hand on Drizzt’s shoulder as he turned to leave. Drizzt said nothing, though he truly appreciated Wulfgar’s concern. Their friendship had gone far beyond the need for spoken thanks, though, and Wulfgar only hoped that he had given his friend some comfort as he returned to the camp, leaving Drizzt to his thoughts. The stars came out and, found the drow still standing alone beside the Rauvin. Drizzt had made himself vulnerable for the first time since his initial days on the surface, and the disappointment he now felt triggered the same doubts that he had believed resolved years ago, before he had ever left Menzoberranzan, the city of the black elves. How could he ever hope to find any normalcy in the daylight world of the fair-skinned elves? In Ten-Towns, where murderers and thieves often rose to positions of respect and leadership, he was barely tolerated. In Longsaddle, where prejudice was secondary to the fanatical curiosity of the unsinkable Harpells, he had been placed on display like some mutated farm animal, mentally poked and prodded. And though the wizards meant him no harm, they lacked any compassion or respect for him as anything other than an oddity to be observed. Now Silverymoon, a city founded and structured on tenets of individuality and fairness, where peoples of all races found welcome if they came in goodwill, had shunned him. All races, it seemed, except for the dark elves. The inevitability of Drizzt’s life as an outcast had never before been so clearly laid out before him. No other city, not even a remote village, in all the Realms could offer him a home, or an existence anywhere but on the fringes of its civilization. The severe limitations of his options, and even moreso, of his future hopes for change, appalled him. He stood now under the stars, looking up at them with the same profound level of love and awe as any of his surface cousins had ever felt, but sincerely reconsidering his decision to leave the underworld. Had he gone against a divine plan, crossed the boundaries of some natural order? Perhaps he should have accepted his lot in life and remained in the dark city, among his own kind. A twinkle in the night sky brought him out of his introspection. A star above him pulsed and grew, already beyond normal proportions. Its light bathed the area around Drizzt in a soft glow, and still the star pulsed. Then the enchanting light was gone, and standing before Drizzt was a woman, her hair shining silver and her sparkling eyes holding years of experience and wisdom within the luster of eternal youth. She was tall, taller than Drizzt, and straight, wearing a gown of the finest silk and a high crown of gold and gems. She looked upon him with sincere sympathy, as if she could read his every thought and understood completely the jumble of emotions that he himself had yet to sort through. â€Å"Peace, Drizzt Do’Urden,† she said in a voice that chimed like sweet music. â€Å"I am Alustriel, High Lady of Silverymoon.† Drizzt studied her more closely, though her manner and beauty left him no doubts as to her claim. â€Å"You know of me?† he asked. â€Å"Many by now have heard of the Companions of the Hall, for that is the name Harkle Harpell has put upon your troupe. A dwarf in search of his ancient home is not so rare in the Realms, but a drow elf walking beside him certainly catches the notice of all those he passes.† She swallowed hard and looked deeply into his lavender eyes. â€Å"It was I who denied you passage into the city,† she admitted. â€Å"Then why come to me now?† Drizzt asked, more in curiosity than in anger, unable to reconcile that act of rejection with the person who now stood before him. Alustriel’s fairness and tolerance were well known throughout the northland, though Drizzt had begun to wonder how exaggerated the stories must be after his encounter at the guard post. But now that he saw the high lady, wearing her honest compassion openly, he could not disbelieve the tales. â€Å"I felt I must explain,† she replied. â€Å"You need not justify your decision.† â€Å"But I must,† said Alustriel. â€Å"For myself and my home as much as for you. The rejection has hurt you more than you admit.† She moved closer to him. â€Å"It pained me as well,† she said softly. â€Å"Then why?† Drizzt demanded, his anger slipping through his calm facade. â€Å"If you know of me, then you know as well that I carry no threat to your people.† She ran her cool hand across his cheek. â€Å"Perceptions,† she explained. â€Å"There are elements at work in the north that make perceptions vital at this time, sometimes even overruling what is just. A sacrifice has been forced upon you.† â€Å"A sacrifice that has become all too familiar to me.† â€Å"I know,† Alustriel whispered. â€Å"We learned from Nesme that you had been turned away, a scenario that you commonly face.† â€Å"I expect it,† Drizzt said coldly. â€Å"But not here,† Alustriel retorted. â€Å"You did not expect it from Silverymoon, nor should you have.† Her sensitivity touched Drizzt. His anger died away as he awaited her explanation, certain now that the woman had good cause for her actions. â€Å"There are many forces at work here that do not concern you, and should not,† she began. â€Å"Threats of war and secret alliances; rumors and suspicions that have no basis in fact, nor would make any sense to reasonable people. I am no great friend to the merchants, though they freely pass through Silverymoon. They fear our ideas and ideals as a threat to their structures of power, as well they should. They are very powerful, and would see Silverymoon more akin to their own views. â€Å"But enough of this talk. As I said, it does not concern you. All that I ask you to understand is that, as leader of my city, I am forced at times to act for the overall good, whatever the cost to an individual.† â€Å"You fear the lies and suspicions that might befall you if a black elf walks freely in Silverymoon?† Drizzt sighed incredulously. â€Å"Simply allowing a drow to walk among your people would implicate you in some devious alliance with the underworld?† â€Å"You are not just any drow elf,† Alustriel explained. â€Å"You are Drizzt Do’Urden, a name that is destined to be heard throughout the Realms. For now, though, you are a drow who is fast becoming visible to the northern rulers, and, initially at least, they will not understand that you have forsaken your people. â€Å"And this tale gets more complicated, it seems,† Alustriel continued. â€Å"Know you that I have two sisters?† Drizzt shook his head. â€Å"Storm, a bard of reknown, and Dove Falconhand, a ranger. Both have taken an interest in the name of Drizzt Do’Urden – Storm as a growing legend in need of proper song, and Dove†¦I have yet to discern her motives. You have become a hero to her, I think, the epitome of those qualities that she, as a fellow ranger, strives to perfect. She came into the city just this morn, and knew of your impending arrival. â€Å"Dove is many years younger than I,† Alustriel went on. â€Å"And not so wise in the politics of the world.† â€Å"She might have sought me out,† Drizzt reasoned, seeing the implications that Alustriel feared. â€Å"She will, eventually,† the lady answered. â€Å"But I cannot allow it now, not in Silverymoon.† Alustriel stared at him intently, her gaze hinting at deeper and more personal emotions. â€Å"And moreso, I myself would have sought audience with you, as I do now.† The implications of such a meeting within the city seemed obvious to Drizzt in light of the political struggles that Alustriel had hinted at. â€Å"Another time, another place perhaps,† he queried. â€Å"Would it bother you so much?† She replied with a smile. â€Å"Not at all.† Satisfaction and trepidation descended upon Drizzt all at once. He looked back to the stars, wondering if he would ever completely discover the truth about his decision to come to the surface world, or if his life would forever remain a tumult of dangled hope and shattered expectations. They stood in silence for several moments before Alustriel spoke again. â€Å"You came for the Vault of Sages,† she said, â€Å"to discover if anything in there spoke of Mithril Hall.† â€Å"I urged the dwarf to go in,† Drizzt answered. â€Å"But he is a stubborn one.† â€Å"I assumed as much,† laughed Alustriel. â€Å"But I did not want my actions to interfere with your most noble quest. I have perused the vault myself. You cannot imagine its size! You would not have known where to begin your search of the thousands of volumes that line the walls. But I know the vault as well as anyone alive. I have learned things that would have taken you and your friends weeks to find. But truthfully, very little has been written about Mithril Hall, and nothing at all that gives more than a passing hint about the general area where it lies.† â€Å"Then perhaps we are the better for being turned away.† Alustriel blushed in embarrassment, though Drizzt meant no sarcasm in his observation. â€Å"My guards have informed me that you plan to move on to Sundabar,† the lady said. â€Å"True,† answered Drizzt, â€Å"and from there to Citadel Adbar if need be.† â€Å"I advise you against this course,† said Alustriel. â€Å"From everything that I could find in the vault, and from my own knowledge of the legends of the days when treasures flowed from Mithril Hall, my guess is that it lies in the west, not the east.† â€Å"We have come from the west, and our trail, seeking those with knowledge of the silvery halls, has led us continually eastward,† Drizzt countered. â€Å"Beyond Silverymoon, the only hopes we have are Helm and Harbromm, both in the east.† â€Å"Helm may have something to tell you,† Alustriel agreed. â€Å"But you will learn little from King Harbromm and the dwarves of Adbar. They themselves undertook the quest to find the ancient homeland of Bruenor’s kin just a few years ago, and they passed through Silverymoon on their journey – heading west. But they never found the place, and returned home convinced that it was either destroyed and buried deep in some unmarked mountain, or that it had never existed and was simply the ruse of southern merchants dealing their goods in the northland.† â€Å"You do not offer much hope,† Drizzt remarked. â€Å"But I do,† Alustriel countered. â€Å"To the west of here, less than a day’s march, along an unmarked path running north from the Rauvin, lies the Herald’s Holdfast, an ancient bastion of accumulated knowledge. The herald, Old Night, can guide you, if anyone can in this day. I have informed him of your coming and he has agreed to sit with you, though he has not entertained visitors for decades, other than myself and a few select scholars.† â€Å"We are in your debt,† said Drizzt, bowing low. â€Å"Do not hope for too much,† Alustriel warned. â€Å"Mithril Hall came and went in the knowledge of this world in the flash of an eye. Barely three generations of dwarves ever mined the place, though I grant you that a dwarven generation is a considerable amount of time, and they were not so open with their trade. Only rarely did they allow anyone to their mines, if the tales are true. They brought out their works in the dark of night and fed them through a secret and intricate chain of dwarven agents to be brought to market.† â€Å"They protected themselves well from the greed of the outside world,† Drizzt observed. â€Å"But their demise came from within the mines,† said Alustriel. â€Å"An unknown danger that may lurk there still, you are aware.† Drizzt nodded. â€Å"And still you choose to go?† â€Å"I care not for the treasures, though if they are indeed as splendid as Bruenor describes, then I would wish to look upon them. But this is the dwarf’s search, his great adventure, and I would be a sorry friend indeed if I did not help him to see it through.† â€Å"Hardly could that label be mantled upon your neck, Drizzt Do’Urden,† Alustriel said. She pulled a small vial from a fold in her gown. â€Å"Take this with you,† she instructed. â€Å"What is it?† â€Å"A potion of remembrance,† Alustriel explained. â€Å"Give it to the dwarf when the answers to your search seem near at hand. But beware, its powers are strong! Bruenor will walk for a time in the memories of his distant past as well as the experiences of his present. â€Å"And these,† she said, producing a small pouch from the same fold and handing it to Drizzt, â€Å"are for all of you. Unguent to help wounds to heal, and biscuits that refresh a weary traveler.† â€Å"My thanks and the thanks of my friends,† said Drizzt. â€Å"In light of the terrible injustice that I have forced upon you, they are little recompense.† â€Å"But the concern of their giver was no small gift,† Drizzt replied. He looked straight into her eyes, holding her with his intensity. â€Å"You have renewed my hope, Lady of Silverymoon. You have reminded me that there is indeed reward for those who follow the path of conscience, a treasure far greater than the material baubles that too often come to unjust men.† â€Å"There is, indeed,† she agreed. â€Å"And your future will show you many more, proud ranger. But now the night is half gone and you must rest. Fear not, for you are watched this night. Farewell, Drizzt Do’Urden, and may the road before you be swift and clear.† With a wave of her hand, she faded into the starlight, leaving Drizzt to wonder if he had dreamed the whole encounter. But then her final words drifted down to him on the gentle breeze. â€Å"Farewell, and keep heart, Drizzt Do’Urden. Your honor and courage do not go unnoticed!† Drizzt stood silently for a long while. He bent low and picked a wildflower from the riverbank, rolling it over between his fingers and wondering if he and the Lady of Silverymoon might indeed meet again on more accommodating terms. And where such a meeting might lead. Then he tossed the flower into the Rauvin. â€Å"Let events take their own course,† he said resolutely, looking back to the camp and his closest friends. â€Å"I need no fantasies to belittle the great treasures that I already possess.† He took a deep breath to blow away the remnants of his self-pity. And with his faith restored, the stoic ranger went to sleep. How to cite Streams of Silver 14. Star Light, Star Bright, Essay examples