British Sky Broadcasting Limited Essay Example for Free

British Sky Broadcasting Limited Essay The share price calculated for BskyB using the residual income valuation model is  £ 3.72, which is  £ 5.64 below the market share price of around  £ 9.36. Reason for such depleted share price is that the profits reported by BskyB are not showing the impact of the equity capital and hence valuing the BskyB stock on the basis of reported profit for the period doesn’t show the true and fair view of BskyB share price. The price calculate by using the residual income valuation model is showing that how the cost of equity capital has affected the profits of BskyB and thus reporting a decreased value of the company and for the share price as well. Operating income predicted on the basis of the growth rate is showing a constant increase in the operating income in the future period. It is very important for BskyB to achieve a higher rate of growth in revenues which will ultimately gives rise to the need of investing in BskyB’s operating assets and thus both variables will end up with the increased value of company per share for the next period forecast. As the value of company is equal to the net present value of future cash flows discounted at appropriate rate of return to the investor. So the company should try focusing growth in its revenue rather than expending its business in the UK and around the globe. Return on net operating assets of BskyB is also decreasing in the next three years period. The decrease is miner but this is a sign that BskyB could be in more depressed financial conditions if attention is not paid to the growth rate of revenue. As in the above graph the return on net operating assets has been dropped from 49.00% to 48.99%. As the investors are much interested in the future prospects of the company rather than the historical performance of company. At first instance the investor will forecast the value of its investment and if the investment is generating some additional amount on their investment and if investment is not generating any additional return on it then they will consider the alternative company to invest. Following would be the basic assumptions: 1- The stock price can be predicted by using the residual income valuation model. 2- The relationship of current stock price and between the predicted share prices is significant. 3- Share piece of BskyB calculated using the residual income method divided by the current share price is more reliable and appropriate as compared to the book value of stock divided by the current value of stock. 4- The cost of capital will remain the same in the period under forecast which is 5.73%. 5- Terminal value will grow at the rate of industrial sector growth which is 4.00%. 6- Tax rate will not change. 7- Company will invest continuously in its operating assets. Investment recommendations: 1-As BskyB Vodafone are already partners, Vodafone has its customer base and the BskyB has the numerous type of entertainment and various license for the sports events. Recently the BskyB has announced that for the upcoming soccer league season the company has spent 299 million pound. If company sign a contract with Vodafone to show its direct broadcast to the Vodafone users than it will not only enhance the customer base of BskyB but will also promotes its sport broadcasting channels. (Thomson, 2014) Moreover, this could be more beneficial if the company also provides high speed broad band services to its Vodafone customer on a very cheap rate by introducing some attractive sport events covering packages. As the company has a strong customer base of 4.9 million. This will certainly be increased by taking over this investment opportunity. Because the competitor there is capturing the market share very rapidly (British Telecommunications) and due to BT BskyB has lost 1.5 billion pound of its value in November. So it is much vital for BskyB to maximize the revenue by investing in secure opportunities. (PLUNKETT, 2014) 2- â€Å"British Sky Broadcasting Group Plc, known as BskyB, (BSYBY.PK,BSY.L), Friday said it agreed to invest $8 million in Luminari Capital, a venture capital fund focusing on technology and media startup companies that operate within the theme of innovation in video. This investment is expected to aid Sky to choose relevant startup companies to partner with in the future†. (British Sky To Invest $8 Mln In Luminari Capital Quick Facts, 2013) As the broadcasting industry needs continuously development and up gradation of its broadcasting technology and thus it will need investment to achieve that level of competitive broadcasting to compete within the industry and make keep its distinctive position in the UK  broadcasting industry. Furthermore, UK film industry has also called for investment from BskyB of 20 million pound annually; this is major part of the annual investment in the UK film industry which signifies the position of BskyB in the UK broadcasting industry. (Macnab, 2014) As the strategy of BskyB has always remain customer focused and the company has always aimed high to serve its customer with its robust and highly innovative broadcasting technology, from a long period the company has reaped the fruits of its consumer focused strategies. So again the company has the opportunity to gain several film licenses by dominating is position to generate considerable cash flows in future. Already the company is the choice of around 40% of the British household and such continuous significant investment opportunities can turn the ship of BskyB around the globe. 3-As the company is in the industry in which it is required to maintain a research and development for its broadcasting equipment. Currently the company pays a large portion of its earning to the supplier for the payment of equipment which it has purchased time to time. If the company invests in such a operating facility which is well equipped and has the capacity to produce the all tangible broadcasting equipment and as it will also have its RD department then off course it can innovate its products in house and frequently. This will also be considered as separate revenue generating business segment of BskyB which will ultimately increase the company’s potential to increase its revenue in upcoming periods. BskyB can also sell those in house broadcasting equipment to other organizations operating under the umbrella of the broadcasting. More over a company like BskyB must also consider the investing in the other competitors as it has already invested in many other media and broadcasting companies. this will help the company in a manner, if in a certain year the company remains unable to show increase in its revenue it will be compensated by earning revenue from its short term or long term investments. References: Thomson, A. 2014. Vodafone Said to Discuss Sharing Broadband With BSkyB in U.K. [online] 20 January. Available at: http://www.bloomberg.com/news/2014-01-20/vodafone-said-to-discuss-sharing-broadband-with-bskyb-in-u-k-.html [Accessed: 31 March]. PLUNKETT, S. 2014. Vodafone, BSkyB in talks to curb BTs broadband reach report. [online] 19 January. Available at: http://uk.reuters.com/article/2014/01/19/uk-vodafone-bskyb-idUKBREA0I09C20140119 [Accessed: 31 March 2014]. British Sky To Invest $8 Mln In Luminari Capital Quick Facts. 2013. [online] 15 November. Available at: http://www.rttnews.com/2224924/british-sky-to-invest-8-mln-in-luminari-capital-quick-facts.aspx [Accessed: 31 March]. Macnab, G. 2014. UK panel urges broadcasters to invest. [online] 23 January. Available at: http://www.screendaily.com/news/uk-panel-urges-broadcasters-to-invest/5065719.article [Accessed: 31 March].

Plato’s Unwritten Doctrines from a Hermeneutical Point of View* :: Philosophy Philosophical dialogue Essays

Plato’s Unwritten Doctrines from a Hermeneutical Point of View* ABSTRACT: In this paper, I will show the deep roots of dialogue in Plato’s thought, in order to examine the validity of the so-called ‘esoteric Plato’. The confrontation between dialogicity and unwritten doctrines is the main theme of this article. These two views — Hermeneutics and TÃ ¼bingen School — are not far away on concrete contents, with more or less variations. But it must be noticed that both conceptions of Platonic thinking are contradictory and that is reflected in their explanations of Plato’s own philosophical project. To begin with, I will not compare each point of the Hermeneutic and Tubingen School positions. I will explain, so far as I can understand, why the explanation of the TÃ ¼bingen School is unsatisfactory. (1) These insufficiencies are not related to its deep analysis of the Platonic oral tradition, exactly to its interpretation. (2) The question is wholly hermeneutical and refers to the pretension, extension and value that this oral doctrine can have in Platonic philosophy. I will avoid the content questions, because they are far away from the purpose of this paper. The implicit question in these two trends is the following: can Plato’s own philosophy be reduced to a metaphysical system? (3) The affirmative answer to that question holds the whole account of the TÃ ¼bingen School. But I consider that this assumption is not correct and that it supposes the projection of alien elements to Platonic philosophy. And my task in this contribution is to show why. Plato’s thought has two axes: thematical and formal. Thematically it moves around the Good, and formally, around the dialectic. Both themes are the ground of his whole work and the ideas are not more than the attempt of joining them. The dialectical access to ideas is fully congruous with the question of the Good, at all levels. This is clearly exposed in the beginning of Philebus, (4) where it is necessary to reach the truth about the good through dialogue, with all required efforts. But dialogue is not a combat between enemies to win one position, but the battle between allies supporting the truth. Dialectic is not another thing than the ability to guide a conversation, that is, the capability to dialogue. (5) Because of that, language —exactly (6) — has no secondary position in Plato’s philosophy. Even one of his works is wholly dedicated to that theme — Cratylus —, and there it can be seen that language is neither pure nature nor complete artifact.

Twelfth Night, 3.1.1-26

Michael Nodurft English 208 Mrs. Walter Twelfth Night, 3. 1. 1-26 Jan. 30 2007 True Lies Reading this conversation between Viola and Feste the clown there is definite multiple meanings to each of the words that they both say. You can tell that Viola’s wit is matched to Feste’s which makes this conversation so cleverly written. This passage offers pun’s to the audience who understand that Cesario is truly Viola. And have Feste hinting that he knows Viola’s hidden identity. This passage offers hints to the truth of the Viola and the fact that Feste is truly not the fool that everyone believes he is. In this passage I will prove that this conversation is crucial to the plot, and defines beoth of these characters roles. When Feste enters the room he is playing his pipe and tabor, and is being his normal fool self. The first couple lines are normal speech when Viola asks, â€Å"Dost thou live by thy tabor? †3. 1. 1-2 I like how Viola used the word tabor because it is the perfect description of Feste personality, the way he is always playing games with people for money. When Feste’s witty remarks are matched by Viola, Feste begins his more intellectual wittiness. â€Å"A sentence is but a cheverel glove to a good wit,†3. . 10-11 In this sentence you tell that there is a deeper meaning when Feste is talking about a glove. The way that Feste describes the glove to Viola is interesting because when a person uses a glove it is normally hiding the hand. Feste has stumble onto a crucial part of the play making the plot much sweeter for the audience because they know t he truth about Viola and he doesn’t; Cesario is the glove to Viola. This is perfect not only is the fool being a mocked in the play; his fooling is now involving the audience making subtle hints of something he does not know. The next line Feste says is â€Å"How quickly the wrong side may be turned outward. †3. 1. 11-12 I like this comparison between the glove turning outward and Viola trying to keep her cover, because Viola doesn’t know what Feste knows. Another note that I stumbled on when reading this scene was the fact that Feste repeated the word â€Å",Sir,† when he was addressing Viola. When you look into Feste’s lines it is almost like he is mocking the word sir by putting a coma before and after. I can see the imagery of Feste’s face when he pauses and announces â€Å",sir,† I can see his eyes looking into Viola’s almost jesting that he knows that she is not truly a sir but a woman. It seems like Feste knows a lot but I don’t really think he entire understand it yet. So for the audience who knows Cesario is a woman, it is quite enjoyable seeing Feste sort of stuck in the dark and not truly understanding everything. This is how Feste obtains both the fool in the play and to the audience. Another idea that I have thought about was what is Feste hiding? Feste is the loveable fool that plays tricks for money, but is that his true nature? I believe that the â€Å"glove† sentence applies to both characters Viola and Feste. Viola is trying to keep her cover, but one slip up and she could be uncovered causing terrible trouble. On the other hand Feste, if his cover of being a fool is blown then he has no way of living. If one was thinking hard about this speech Feste is talking about himself. Being witty and fun, but at the same time scared to let his more intelligent side out. He has to purposely put himself outside of the box so that no one can understand his true meaning of life. The way that this passage is put together it is not rhythmic at all. The lines don’t flow together like other parts of the play. There is no iambic pentameter is these sentences they are either too long, or too short. I think that Shakespeare purposely made these lines uncut and off rhythm for a reason. This reason is that Feste is a fool and is always being witty never making a direct point. Viola is fooling right back and not being entirely serious as well. From a literary stand point having the fool talk in such a manner makes them both out of the box or â€Å"party†. It makes sense that Feste talks in such a manner in the play, but I like how Viola’s lines are almost the reiterating the argument that Feste and Viola are very similar characters with their wit. I have showed the evidence threw out my paper proving the idea that Feste and Viola are very much alike. I have shown you the style on how they talk to each other using the wit to the best of their abilities. I have proved the non rhythmic lines that complement the fact that both characters are intelligent fools that think they know what they are talking about but are still in the dark. The fact that Feste is messing with Viola the way he does, shows that he has some knowledge on her true identity. The way that Feste mocks Viola makes this passage so important to the plot of the play because of the funny pun’s it gives the audience; hinting at the fact that Cesario is the glove to Viola. All of this evidence digs deeper into this passage and pulls out the hidden pun’s and messages that you couldn’t see with one glance, and enriches the story with hidden thoughts. Shakespeare, William. â€Å"Twelfth Night. â€Å"The Norton Shakespeare based on the oxford edition. 1997.

Ethics And Morality Are The Same Thing - 812 Words

When discussing ethics, people often think ethics and morality are the same thing. But in order to understand ethical leadership, it can be beneficial to view these two concepts differently. One of the most important ethical philosophers of modern times has been John Rawls, who made a clear distinction between comprehensive moral systems and less comprehensive systems. The distinction can help better understand the idea of ethical leadership. To Rawls, the two differ in the following manner: †¢ Comprehensive moral systems cover not just one’s behaviour, but also bigger issues such as where one’s place is in the universe. These moral systems would include the world’s religions, for example. †¢ Less comprehensive moral systems would only cover areas of politics, social, and economics. Therefore, morality is generally based on much broader set of values and beliefs. These can or cannot be logically coherent. 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