Accounting for Anguish Essay Example | Topics and Well Written Essays - 250 words - 1

Accounting for Anguish - Essay Example When fraudulent activity and misappropriation occurs in a company such what was occurring at WorldCom and an accountant discovers the scheme the only option for the accountant is to become a whistleblower. A whistleblower can be defined as a person that reveals any wrong doings or malpractices that are taking place within an organization (Bainbridge). When Kim Emigh acted as a whistleblower in the WorldCom scandal she revealed to the Security and Exchange Commission and other governmental agencies that WorldCom was attempting to change labor that was supposed to be part of capital projects into an expense in order to misguide the government and lower profits to pay less taxes. The effect of the directive by WorldCom would have turned $35 million of capitalized items into expenses (Reaves). The courage of Kim Emigh was instrumental in bringing the WorldCom executives to justice and to uncover one of the biggest financial frauds in U.S.

The Basseri of Iran culture Research Paper Example | Topics and Well Written Essays - 2000 words

The Basseri of Iran culture - Research Paper Example The kinship factors include the patrilineal, the marriage and the divorce aspects of the Nomadic tribe of Basseri and the way it is different to the cultural values to the rest of the country. The social organizational factors is a combination of a number of factors that include the rite of passage in the nomadic society, the headmen that lead the tribe and the Khan who is usually a wealthy person having a number of followers of his own that makes him strong enough to head the society. Economic Organization Nomadism The Basseri Nomads of Iran are the tent-dwelling pastoralists who are under a chief and politically centralized. It is officially stated that the Basseri are Shitte Moslems but such a religious affiliation does not exist to a very big extent among these people. These people seem to be very uninterested in religion generally. The ritual activities of these people are very few as they offer no communal prayer and are more likely to ignore the Islamic feast days. Even the ho ly month of Ramadan seems to be a very unlikely proposition for most of the people. It is concluded that because of the migration that these people had to do early in their history, there was progressively built tension and excitement and most people were confused whether the economic activity was a religious one or not. These tribes responded more to the movement that was in a more dramatic form rather than considering the utilitarian aspects of the whole movement. There was highly complex essence of tribal organization in Iran that was centralized Uymaq system. The Uymaqs were not only the pastoral nomads but were a combination of three economic forms, the pastoral, the commercial and the agricultural. Importance of Livestock The individual households of the Basseri of Iran hold usually herd their animals together in one or even more than one flock of 400 to 600 animals. This figure limits the number of households that are grouped together. The members of the camp are usually are widely drawn from both consanguineal and affinal groups. Some of the members are not even the immediate groups of these people in the society. The shepherds are usually hired by the members of the camp for the service contracts of one year so that they can care for a single flock of 400 to 600 goats and sheep. For every ten lambs that are born in the spring, they receive one lamb for their work all the year. Even if they quit a bit earlier, there is no pro-rated agreement as the lambs have not been born yet. All of the households owns and milks its own animals separately even though they are gazed together. Also, different households pay, give food and other materials needed by the shepherds in their contribution depending on the number of animals that they own with the addition of the two assistants that the shepherd usually has. Environmental Adaptation The major concentrations of the population of the vertical nomads in Iran occur during the summer. The camps are usually composed of as many as fifty tents during that period of the year. However, during the winter migrations, the camps are composed of as many as twelve tents and as few as one tent. The camps are usually separated by an hour long walk from the neighboring camps and also the pasture areas. However, the visiting between people from one camp to the other and staying connected with each other is a regular activity of the nomads in Iran.

Conflicts Of Interest Between Managers Owners And Creditors Finance Essay

Conflicts Of Interest Between Managers Owners And Creditors Finance Essay Managers, owners and creditors usually have the same fundamental objective that is to see the business prosper in the companies. But when companies are in financial distress, conflicts of interest between managers, owners and creditors arise. The reason to answer this problem is just because managers have different goals from owners and creditors. As we know, managers are usually hired to run a business of companies on behalf of owners. Thus, some problems can arise between managers and owners because interest of ownership is separated from interest of control especially when companies fall into financial distress. Managers may pursue some goals that bring benefits to them but may not be beneficial to the owners. Owners have their own shares and they think that their shares value will be increased. They have right to indirectly control of the operating decisions that influence the companies cash flows and others. Besides, creditors are the party who provide capital to companies at rates based on the riskiness of companies assets and on companies capital structure of debt and equity financing. Conflict of interest between owners and creditors is that owners want to borrow money at the lowest rate whereas creditors decide the rate based on the risks of companies investment projects and companies themselves. The more risks compan ies have, the more required rate on the firms debt will be paid. When a company faces financial distress and may be going to bankruptcy, there are usually two solutions to settle. The first solution is reorganization and continuation as a going concern. Managers usually like this solution as they can exercise control over what goes on during the company. The second solution is liquidation and selling off of the assets of the company. Managers usually do not like this solution and may resist whereas creditors like this solution as they stand to get their money from the liquidation value first. However, managers may not want this to happen and they may seek to bribe the creditors with a promise of getting more money than they should if the latter agree to the first solution. This is not in the interest of the owners. Conflicts of interest between managers, owners and creditors always exist even when the company is profitable. Therefore, the company has a cash surplus. Managers would want this money as a financial bonus and the shareholders would want this money as a stock dividend whereas creditors get paid a fixed amount and they get paid before the owners get paid. II: In a personal financial situation, give an example of opportunity cost. In a personal financial situation, opportunity cost of any investment is the return one could earn on the next best alternative. A simple way, we can understand that opportunity is the benefit you could have received by taking an alternative action. All investments of a company involve opportunity cost. A dollar today is worth more than a dollar in one year because the dollar today can be invested and will increase more than a dollar in one year. The dollar you can get after one year carries an opportunities cost equal to the return on the forgone investment. Thus, opportunity cost is the forgoing cost and when there are a number of business alternatives. The decision makers always select the alternative which has the highest opportunity cost because if the decision maker selects any other alternative he or she has lost the opportunity. Companies usually use opportunity cost to evaluate a capital Investment project. The company can compare between the projected return and the return it would earn on the highest yielding alternative investment involving similar risk. For example, a company has a free amount of money in the bank that earning interest 10% after 1 year. If this company uses this amount of money to invest a project, it will get 15% profit after 1 year. In this example, opportunity costs of this company are 5% (15%-10%). Decision makers of a company always have to consider choosing the way which can give them the maximum benefit that can cover all costs. They use opportunity cost to analyze a project and the simplest way to estimate the opportunity cost is to compare the present choice with the next best alternative that could be made. However, it is not easy to make comparison because many alternatives do not have a market price or very difficult to calculate into money. Question III: In America, Vietnam or any other country, what is appropriate question to ask when evaluating an investment opportunity? Explain why. When evaluating an investment opportunity in America, Vienam or any other country, the appropriate question that company usually concern is what is the discount rate? The discount rate is rate of return that recognizes the time value of money. It is calculated based on cash flow expected in future from the investment. Management of a company always compares the discount rate of many projects to choose which projects with maximum return or wealth for the companys stockholders. The discount rate is also related to a risk factor that recognizes the uncertainty associated with achieving future profit forecasts. The risky projects can bring high discount rate to investors. However, it is not easy to determine the appropriate discount rate because it is calculated by using discounted cash flow techniques. Besides, the appropriate discount rate is influenced by some main factors. The first factor is related to macroeconomic conditions such as inflation, interest rates and country risksà ¢Ã¢â€š ¬Ã‚ ¦Vietnam has higher country risks than America because Vietnamese policies can be changed very fast. The second factor is matter of the industry such as avera ge of profit ratio in the industry The third factor is the company policy which related to capital structure. Otherwise, there are some factors related to projects themselves. Evaluating the factors helps investors define discount rate and therefore they have an overview of the investment opportunity. Besides, management have to foresee the estimated future benefits are large enough to justify the current expenditure as well as the proposed investment based on capital budgeting. It is the most cost-effective way to achieve their goals. The discount rate to be applied can be based on the facts and circumstances of a particular case as well as the analysis of the likelihood of achieving forecasted lost profits. Companies have to assess the relevant factors in determining an appropriate discount rate that help them build a stronger case in support of their damage position. Question IV: Discuss the true economic cost to Daimler-Benz (Mercedes) when it purchased Chrysler in 1998. How did that workout? In May, 1998, Daimler-Benz and Chrysler Corporation, two of the worlds leading car manufacturers, agreed to combine their businesses. Daimler-Benz purchased the Chrysler Corporation at $37.3 billion. The former Chrysler Corporation was given autonomy to manufacture mass-market cars and trucks while the Germans firm continued to build luxury cars. Thus, purposes of this business for Daimler-Benz is to access to the North American market for automobiles without diluting the image of its Mercedes-Benz brand. Otherwise, with acquiring Chrysler they can get production capacity outside Germany and opportunity to learn from Chryslers envied process of making decisions quickly and bringing new vehicles to market promptly. However, the true cost to purchase the Chrysler is not $37.3 billion because the Chrysler has $15.5 billion in interest-bearing debt that makes the total price to purchase is $52.8 billion ($37.2 million + $15.5 million). Thus, Chryslers assets need to make future cash flow worth at least $52.8 billion. Therefore, the true economic cost to Daimler-Benz when it purchased Chrysler is over $52.8 billion. After purchasing Chrysler, Daimler-Benz firm had to bear many extra expenses related to changes in many factors such as leaderships, business strategy, culture clash and management styles. The Daimler is different from the Chrysler different in businesses. The Daimlers core competency is high-valued, technically advanced cars and focuses on development of luxury cars whereas Chrysler focused on mass market and considered as a very cost effective company. Moreover, European culture is far different from American style and there may appear conflict of management style in a short time. Thus, it is difficult to the business and cash flow for DaimlerChrysler in the future. Therefore, DaimlerChrysler faced failures in operating. Despite significant short and medium term expected synergies, DaimlerChrysler has been negative profits after the deal. In 2001, DaimlerChrysler got loss of $5.8 bi llion which was the biggest loss in German business history. In 2007, The Chrysler was bought of 80.1% (about $7.4 billion) by Cerberus Capital Management LP. This price is much cheaper than the price ($37.3 billon) when Daimler purchased Chrysler in 1998. After 9 years, this deal marked the divorce of Daimler and Chrysler. Question V: A sporting good manufacturer has decided to expand into a related business. Management estimates that to build and staff a facility of the desired size and to attain capacity operations would cost $275 million in present value terms. Alternatively, the company could acquire an existing firm or division with the desired capacity. One such opportunity is the division of another company. The book value of the divisions asset is $140 million and its earnings before interest and tax are presently $30 million. Publicly traded comparable companies are selling a narrow range around 12 times current earnings. The companies have debt-to-asset ratios averaging 40 percent with an average interest rate of 10 percent. Using a tax rate of 34 percent, estimate the minimum price the owner of the division should consider for its sale. Multiple = Market Value / EBIT (1-tax) Therefore, Market value = Multiple x EBIT (1-tax) Market value = 30 (1-0.34) x 12 = $237.6 million Market value = D + E D = 40% x $140 million = $ 56 million. E = Market value D = $237.6 million $ 56 million = $181.6 million. With calculation above, the minimum price the owner of the division should consider for its sale is the value of its equity (E). The minimum price is $181.6 million. b. What is the maximum price the acquirer should be willing to pay? The maximum price the acquirer should be willing to pay is the market value. In this case, it is $237.6 million c. Does it appear that that an acquisition is feasible? Why or why not? Because the companies have debt-to-asst ratios averaging 40 percent with an average interest rate of 10 percent, the price will be: $237.6 million + ($237.6 million x 40%) x 10% = $247.104 million The price above is less than $275 million. If the managements build and staff a facility, they have to pay $275 million. Thus, this acquisition is feasible. Otherwise, the company can utilize staff and facility. d. Would a 25 percent increase in stock prices to an industry average price-to-earnings ratio of 15 change your answer to (C)? Why or why not? In this situation, Market Value = $237.6 million x 1.25 = $297 million. The price in this situation is more than $275 million. If the managements build and staff a facility, they have to pay $275 million. Thus, with 25% increase in stock prices to an industry average price-to-earnings ratio of 15%, my answer to (c) will be changed. e. Referring to the $275 million price tag on the replacement value of the division, what would you predict would happen to acquisition activity when market values of companies and divisions rise above their replacement values? When market values of companies and divisions rise above their replacement value and related to the $275 million price tag on the replacement value of the division, I predict that the company will acquire existing firm or division with the desired capacity instead of building and staffing new facility. Question VI: What does it mean when a companys free cash flow is negative in one or more years? Free cash flow always measures how much money a company generates after deducting maintenance capital expenditure, but before capital expenditure on expansion. Free cash flow is important for any company because it a company can pursue opportunities that increase shareholder value with free cash flow. It is difficult for a company to launch new products, make any acquisition, pay dividends and reduce debt without enough cash. In theory, Free Cash Flow = Net Income + Amortization/Depreciation- Changes in Working Capital Capital Expenditures. Thus, if the free cash flow is negative in one or more years, company may have large investments. If these investments get a high return, profits that a company attains are more than costs to be paid. Otherwise, a profitable business or in some particular industries may have negative cash flow especially in the beginning of investments. In these cases, negative free cash flow of a company can be accepted in a short time but not in a long time. b. Do negative values of free cash flow in way alter or invalidate the notion that a companys fair market value equals the present value of its free cash flows discounted at the companys weighted average cost of capital? Free cash flow is the amount of cash a company has after expenses, debt service, capital expenditures, and dividends. The higher the free cash flow of a company, the stronger the companys Balance Sheet. Free cash flow can affect the value of a firm. Negative free cash flow can not define the value and it has no sense. However, negative values of free cash flow invalidate the notion that a companys fair market value equals the present value of its free cash flows discounted at the companys weighted average cost of capital. Some divisions of a company may accept loss in order to increase free cash flow of a company in the future. c. Suppose a companys free cash flows were expected to be negative in all future periods. Can you conceive of any reasons for buying the companys stock? Free cash flow is the most important number to be needed to know about a company before buying its stock. Big companies usually throw off large sums of free cash flow whereas young or growing companies may have a negative free cash flow. We can buy the companys stock if the companys free cash flow in the short time. However, if a companys cash flow were expected to be negative in all future periods, we should not buy their stock because the companys finance situation is not good. The company may get troubles in sales, heavy debt, ineffective investments or other causes in operation that result to a cash flow with higher expenditures than income. With negative cash flow in all periods, the company may have to bankruptcy. Therefore, there is no reason for buying its stock. However, if we know that the company has some big projects and will get high return in the long time, we can consider buying the companys stock because large investments can make the company having negative cash.

The Annunciation: A Painting by Francisco de Zurbaran :: Essays Papers

The Annunciation: A Painting by Francisco de Zurbaran Works of art can best be appreciated when the elements of design, the principles of design, and the iconography of the work are observed and understood. The Annunciation, a painting by the Spanish artist Francisco de Zurbaran, is a work of art that incorporates both the elements and principles of design. The iconography of the painting is of great importance as well as its aesthetic quality. The ability to create a picture of The Annunciation in one’s mind is a key factor in understanding the analysis of the work. Francisco de Zurbaran approaches the painting with a naturalistic style. The painting features a room in which a woman – like angel is seen at the left kneeling on the ground before the Virgin Mary. The figure of Mary is placed between a chair and a small wooden table draped with a green cloth. Mary disregards an open Bible on the table, as she appears solemn while staring at the floor. Floating above the two main figures in the upper left side of the painting are cherubs resting on a bed of clouds. They happily gaze down at Mary with eyes from Heaven. The Annunciation uses elements of design to create a visually pleasing picture. The visual elements consist of light, color, texture, shape, and line. The use of light is one of the most evident elements in this painting. The source of light is not directly visible in the painting, but appears as a radiant angelic host floating above the two main figures. Light emphasizes the fair skin of the Angel and Mary as they both look down towards a shadowy floor. Light also reflects the open Bible on the table suggesting emphasis on the holiness of Mary. The rest of the room remains eerily dark and dull. Color is used to draw attention to important characters and objects in the painting. The red of Mary’s shirt emphasizes her place as the main figure. A bright, yellow cloud floating above the room symbolizes the joy of the angelic figures. De Zurbaran uses warm colors in the foreground. The room, used as the background for the scene, is painted in dark colors utilizing different hues of gray and brown. An observer can also obtain a sense of texture in this painting.

Invisible organizations and systems in LEGOLAND® Windsor Resort Essay

Invisible organizations and systems that part of the firm that reflects the rules, regulations, and processes upon which the organization is based. (John E. G. Bateson, K. Douglas Hoffman, 2010, page 11) The main role of LEGOLAND ® Windsor Resort is to offer services that afford thrills, fun and experience; however, all customers consume them at the same time. That means they are influenced by each other, next by LEGOLAND ´s contact personnel (Service providers) and the big part of their final experience is being influenced by the servicescape – by all visible factors of Servuction model. In order to achieve the maximal possible satisfaction of customers, LEGOLAND ® Windsor Resort uses it ´s invisible organizations and systems that support all previously mentioned factors and allow them to serve the customers and give them ordered services on the appropriate level. The customers consume the services without having to see and know the behind-the-scenes activities. Rides and Attractions – LEGOLAND ® Windsor Resort offers over 55 types of rides and attractions which including Miniland, LEGO ® City, Adventure Land, Land of the Vikings, Imagination Centre and other different interactive attractions. – Visitors buy ticket and can to savour a lot of fun, however behind this experience there is maintaining of the attractions which is invisible for visitors, but very important for their security. Visitors cannot see the system used for allocating attractions throughout the park. http://www.legoland.co.uk/Explore/Activities/ Resort Hotel – Visitors can book online one of the 150 rooms which are fully themed with LEGO features from the dragon-guarded entrance through to the brightly colored pirate splash pool and themed bedrooms, too. – The main core of the Resort Hotel is staying overnight which is visible for customers. Although the customers may never see the system assigning rooms or preparing the rooms for a new customer. http://www.legoland.co.uk/Explore/New-for-2013/LEGOLAND-Windsor-Resort-Hotel/ Food and Drinks – Customers can choose place where to eat from 5 Food options and 5 Dining offers, they also can reserve a table or contact the LEGOLAND Windsor Enquiries Team with customers ´ specific dietary. – When the customers make an order, they get a prepared meal but they do not know how the meal was cooked and how the kitchen is supplied with commodities. http://www.legoland.co.uk/Explore/restaurants/ Shopping –9 types of shops are located throughout the park, visitors can experience the ultimate LEGO shopping in the largest retail shop called The Big Shop. With LEGOLAND ´s â€Å"Buy Now, Collect Later† option, customers can explore the LEGOLAND ® Windsor Resort and shop to their heart ´s content without having to worry about their items. Shop assistants will keep the items safe until customers are ready to collect them at the end of their day. – Supplementing the shelf of goods, unloading and storing the goods in a warehouse are all invisible for the customers. In some cases the customers will never meet with the supplementing thanks to a â€Å"Buy Now, Collect Later† option. http://www.legoland.co.uk/Explore/Shopping/BIG-Shop/ Birthday parties – Visitors have an option to celebrate their birthday at LEGOLAND ® Windsor Resort, they just have to email LEGOLANDs ´ Birthday team who will arrange the customer ´s birthday party. – The Customers do not have any care with party because everything will be prepared by team, therefore they cannot see which system used in arranging of birthday room and an event. http://www.legoland.co.uk/Plan/tickets/Birthday-Parties/ Water play area – There is also a LEGO themed indoor water play area specifically designed for family fun and a life guard for safety. – Swimming pools have to be maintained because of hygiene and safety of visitors therefore maintainers control pH of water and they fill and discharge water in the pools. All of these operations are practiced when visitors are absent. http://www.legoland.co.uk/Hotel-FAQ-Container/Adult-Swimming-Pool/ Internal relations between the main elements and processes in LEGOLAND ® Windsor Resort The first step to identify internal relations, we must recognize the essential elements of LEGOLAND ® Windsor Resort. The service management system (Figure 1) will help us to solve this issue. (Normann, R., 2002. Service management: Strategy and leadership in service business. 2nd ed. Chichester: Wiley, pages 57- 60) Figure 1 – The service management system

Understanding the Creative Media Sector

Understanding the Creative Media Sector. Assignment 4 unit 7 Nolan Benson ? Nolan Seth Benson Assignment 4 Unit 7 CONTENTS PAGE Page 1&2 – INTRODUCTION Page 3&4 – PRO’S AND CON’S OF FREELANCING Page 5&6 – IMPORTANCE OF NETWORKING Page 7&8 – VARIETY OF EMPLOYMENT ROLES Page 9&10 – OTHER IMPORTANT INFORMATION Page 10&11 – CONCLUSION&BIBLIOGRAPHY INTRODUCTION When you make a conscious decision to study and work towards something educationally, you have to know exactly what you want and where you want to go after the course, and what you will gain from the course.Obviously when you start you have goals to work towards, so when it all comes together there is no better feeling. Knowing what you want is vital when choosing a career path, so putting in lots and lots of research will defiantly benefit you in the long run. When it comes to making a decision about your career path always keep yourself in mind and remember that you will hav e to make some sacrifices when it comes to getting your dream job. Our generation, the youth of today has been brought up in a false culture when instant ratification plays a major role in our day-to-day lives. Technology is always moving on and up to better things making us, and our world a more sophisticated place to live in. When it comes to employment opportunities, the world is your oyster. Especially living in England, we have connections all over the world so broadening your horizons will always benefit you in the long run, by the end of this report we should be able to understand exactly what opportunities and where will come your way when becoming a broadcast journalist.We will consider the types of potential positions you could work in when working towards your final destination, I mean there is no fun in just getting to the top of your field without working hard in all different areas before. It’s highly unlikely that you will be able to jump right into what you wa nt to do. You must take into consideration all the different things you will have to do and learn in order to acquire the skills that you will need to become a top broadcast journalist.Starting from the bottom and making your way to the top is ideal by the end of this report we will find out exactly how to start at the bottom, make contact’s and connection that will ultimately help you in getting to the top. We will also have an in-depth look into all the places where people advertise for jobs and roles in the broadcast and journalism fields. We will look online especially because everything is going digital, but we will also have a look into what magazines and newspapers advertise for this sector.We will also have a look at the importance of making good friends and acquaintances in the industry that can ultimately help you to elevate yourself above the rest of the competition and get you to your end goal. The importance of personal growth is not only a key factor in the broa dcast and journalism sectors, but also in life itself. So when an opportunity comes around for you to gain knowledge and an understanding of your sector, grabbing it with both hands is really important. Make mistakes as you go, but make sure you never make the same mistake twice. Also actively seeking workshops or courses that will enhance your knowledge is key.So don’t be lazy, be proactive! PRO’S AND CON’S OF FREELANCING PRO’S One of the pros of freelancing in the media industry is the fact that your working hours can be really flexible, this flexibility is great because it often means that you get to choose what hours you work, especially when working from home. This cuts down the time and money you spend commuting to and from work every day. Often when you get freelance work in the media industry it’s got to be in on a certain deadline, this gives you the option to manage your time the way you want to spend it.If you're a night owl, you can spe nd your day working on other projects, hobbies or simply enjoying the ‘free time', with evenings spent working. Alternatively, if you wish to cram in lots of work into a 3-day week, it's your prerogative as long as you meet your deadline and deliver quality work. However if you find that you aren’t really motivated when you are at home and can’t find the time to put in quality work under your own systems, then you seriously have to recognise and realise because handing in work of a poor quality will only tarnish your name and your reputation.If you manage to become an established media freelancer people will trust you with work they need done. Getting to this point will take years and years of hard work and dedication but once you are established you will never find yourself without something to do. As a result of becoming established you get to choose exactly what work you want to do so if you particularly enjoy doing one aspect of film for example, you may be l ucky enough to earn a steady income just doing that. But if you get bored there is always an opportunity to do some other medium of work.CON’S As a freelancer, especially if you are still up and coming and not established and well known, your work and income for the month may not always be guaranteed. One major consideration you have to take in as a freelancer is weather you’ll be able to secure enough work to meet your financial needs. You might find that you will have to build up a portfolio of clientele, or if you are contracting yourself out to media companies there could well be dry spells when you don’t have work coming in and when you are looking for new work to go into.So if you are considering freelancing, then it would be a good idea to either take on some part-time work while you build your portfolio of clientele, or you could save a little bit from each job as a contingency plan for when the work becomes scarce. You should also defiantly keep yoursel f in the loop when it comes to the world you are living in, recessions and economic slowdown can hit freelancers and contractors really badly. As a freelancer, unless you have your own accountant, you’ll have to take care of your own bookkeeping duties and tax affairs.Weather you’ve set yourself up as a sole trader or a limited company, you’ll need to be up-to-date and precise when it comes to your tax affairs because you could be audited at any given time. PRO/CON You are your own boss! Becoming your own boss defiantly has its plus sides. For example, if you choose to take a week off on holiday, you don’t have to ask anyone else. There is no set start time for you to get to work, and there is no clock watching, waiting for the end of the day to arrive. You and only you reap the rewards and praise for your work, and you don’t have to share the profits with anybody else.However, having no boss to make sure you are working can also have its downsides . For one, you will be liable for your reputation and any problems that arise. Your reputation, once dented, may take a long time to recover if you have networked extensively. There will be no one to share the load when the going gets tough, and you will have to deal with all your clients and their problems by yourself. Nevertheless, all of the above are hypothetical scenarios, and the chances are that if you are dedicated, passionate, motivated and punctual, then you will be able to make a success of yourself and your career when freelancing in the industry.IMPORTANCE OF NETWORKING Why is networking so important within the industry? Incorrect networking could mean disaster when it comes to trying to progress in your chosen career. Networking done improperly could tarnish your name and your reputation within the industry. But done properly it is a key that will unlock many doors on the path towards making a well-respected name for yourself in the industry. I’m going to give y ou five points on why networking and meeting new people is key to progressing in your chosen career path. 1.Networking is a really successful way to meet contacts that you would previously had no way of meeting or contacting. Meeting a prospective client face to face at a networking event or meeting is by far the best and most reliable and successful way to go about fixing up a business meeting with that person. If a physical and personal relationship is established before you pick up the phone or swop business cards and information – your chances of doing successful business together with that person probably tripled then if you had just cold called them. 2. Do not forget that everyone you network with has somebody else that they know.Although your immediate group is extremely important, everyone that they know is as well. Your referral circle is widened greatly by joining a group of networking contacts. 3. If you do a good job for your customer and that said customer decide s to recommend and refer you and your services to four of their colleagues, friends and family-that’s great. However if you’re part of a big networking group that meets once a month, and only ten-twenty members tell somebody they know about you and your business already your exposure has more than doubled. This is great because this gets more people aware and talking about you and what you can offer.By growing the right network, the ultimate in â€Å"Word of mouth† marketing takes place. You promote your network, and your network ultimately promotes you. 4. It’s like having your own management team on standby. Businesses need to be prepared for all types of eventualities, especially in a recession. Unfortunately in a tough economic climate anything can happen and instead of having to rely on people and business that you don’t know in hard times – if you network strategically then you should have a selected group of people at your fingertips that you can call upon, if and when, you need support or elp. 5. If you are a small business or a just getting started in the industry you may feel that a networking group could bring to much business, workload that you might not be able to handle right now, due to being busy or understaffed etc. fear not though, networking provides you with a key to business –choice, its not like you are forced to do accept every piece of work that comes your way, instead you have the luxury of picking and choosing which customers and which work suits you and your schedule.Sometimes if businesses are desperate for work then they are forced to take on anything that comes their way, even if it does mean working for less money. If there is a choice of clientele, then you maybe able to pick and choose whom you do business with. This gives you the ultimate freedom to work with people that will benefit your business and that will bring out the best in your work. VARIETY OF EMPLOYMENT ROLES (Broadc ast Journalist) What can you expect and do in the job?Broadcast journalism is the collection, verification and analysis of information about key events, which affect society and the people within society, the publication of information in a fair, accurate, impartial and balanced way to fulfil the publics right to know in a democratic society. This contains and involves a wide variety of media including radio, television the Internet and wireless devices. Broadcasting journalists involved with working in the television industry work in a number of different roles and genres, these include; news, current affairs, or documentaries.Broadcasting companies may also employ them, or they could work on a freelance basis. The role of a Broadcast Journalist is to turn information into pictures and sound, reporting and producing live and/or recorded packages as well as researching, preparing and reading bulletins. You will be responsible for generating content from a wide range of subjects. You will be encouraging new contributors and developing their ideas as well as your own. You are likely to be working as part of a team, generating your own stories and bringing on board new ideas. ?You will be initiating and producing a wide range of news and current affairs material nd will be expected to carry out in-depth research to a broad brief, write material for programme scripts, bulletins etc and at all times exercise excellent editorial judgement and adhere to legal and good practice guidelines. ?You may carry out interviews and reporting duties, in both recorded and live situations, in a studio or perhaps on location. You can expect to be involved in originating and developing programme ideas to support forward planning of material and future programmes and provide briefings for reporters, camera crews and other resources staff and contributors.?You will need to operate broadcast equipment: in radio, portable recording equipment, self-operating outside broadcasting vehicle s and studio equipment in television, to direct camera crews on pre-recorded and live coverage, to oversee editing and operate gallery equipment.? You may be responsible for programme budgets, ensuring effective use of money and resources, supervise the work of Broadcast Assistants and most certainly, as a Broadcast Journalist you would need to develop and maintain local and perhaps national contacts and fulfill a public relations role. ww. startintv. com How to start and where you can go with it? Broadcast journalists should have successfully completed a degree in broadcast journalism, multi-media, TV or online journalism to name but a few. Everybody’s path is always different, but keeping opportunities open and available is key to getting the correct qualifications. IT and word processing qualifications are also required. Broadcast journalists obviously start their careers either as a runner or an assistant to an executive.Other starting points could be as a researcher or a newsroom assistant, progression to becoming an on screen reporter, special correspondent, news presenters, and bulletin or programme editor will always be available if you are prepared to put in the hours as an assistant or researcher, becoming fluent in all these aspects will only serve to benefit you down the line. As a broadcast journalist you may also move into programme production or management roles, or become journalists, newspaper reporters or writers.Some broadcast journalists may also start their careers working as newspaper or other print press journalists. The opportunity for career progression as broadcast journalist is ever growing, jobs are available across a range of functions, requiring different skills, knowledge and experience. Initially, a recognized journalistic qualification or substantial practical experience (3years+) is a good starting point. A special interest, for example, in sport, entertainment, fashion, arts etc, with a good general knowledge of curren t affairs would defiantly support your career as a broadcast journalist.OTHER IMPORTANT INFORMATION Professional Documentation/Portfolio In this fast paced an ever-changing world we live in the need for you to advertise yourself and your work as a business is vital in progressing to any higher statues you may want to achieve. The need for professional documentation is vital for prospective businesses and employers you hope to work for. Presenting yourself in a professional manner is important because the person looking you up for a job, the first thing he/she will look at is your c. v. , on your c. v. s everything about you and your career interests, if this is not professional people will not take you seriously. Having a website that can also show your work to prospective clientele is also a key factor is securing yourself a regular income doing what you love, the internet can offer people information almost instantly, this is great because companies will be trolling the web lookin g for the relevant people. So if your website is professional and portrays professional work done by yourself, consider it a key step in the right direction for you career.Also every time you do business with somebody make sure he/she is satisfied and satisfied enough to the point that they will write a good reference about you and what you do for future clients to see. These references are extremely important because they offer justification about what you can do to future business partners. Also keeping all the work you have ever done in a portfolio will only set you in good stead in the future with prospective employers and business partners. Another important thing to keep in mind when becoming a broadcast journalist is to be ever learning and experiencing new things.If you are constantly gaining recognised skills and qualifications it will only benefit you and your career in a positive way, being ahead of your competition at all times will set you in good stead when working to becoming the best in what you do. Gaining skills will always put you one step ahead of the rest. So do as many courses as you can in as many different areas as you can. They key to life is education so constantly education yourself will only allow people to understand and take you more seriously, and hopefully the people you are trying to reach will listen.Maintaining professional behaviour and conduct at all times will only benefit you and your career. No body likes a smart arsed know it all, rather give yourself and your employers and colleagues 100% satisfaction by not rocking up to work late, being punctual will only help to progress your career, obviously if there was one position left and you and one other person had applied, if you have respect and your attendance, punctuality, commitment are all on point and his aren’t then just by maintaining professional behaviour you will get the promotion over the slacker any day.Being professional is vital; saying the wrong thing at the wrong time can cost you your job and your reputation in this industry. Its cut throat and the situations you may find yourself in are high pressure, so if you take care of the small things like being smart, arriving on time and having good manners, for example, the big things will take care of themselves. CONCLUSIONBroadcast journalists can expect a long and invigorating career, provided they constantly work at progressing and learning as much as possible, if you are prepared to put in the long hours for a small story then you can do nothing but progress into high positions of power. Becoming a sought after, well-respected individual will only help you to make a successful career for yourself as a journalist. To become a broadcast journalist, you should have: †¢excellent communication and ‘people’ skills †¢good listening and questioning skills †¢empathy and tact †¢good writing and research skills confidence and a clear speaking voice †¢p ersistence and motivation †¢calmness under pressure and the ability to meet tight deadlines †¢a creative approach with the ability to ‘think on your feet’ when necessary †¢an understanding of what makes a good news story †¢a high degree of accuracy and attention to detail the ability to work on your own initiative and also as part of a team. BIBLIOGRAPHY www. acareerchange. co. uk www. careers. guardian. co. uk www. bni. eu/regional-news www. startintv. com/jobs/broadcast www. nationalcareersservice. direct. gov. uk/advice