Animal Morality And Master Morality - 1595 Words

agiarNietzsche is one of the most famous, complex, baffling, and misunderstood philosophers of all time. Nietzsche begins his ethics with the proposition that there are only two basic types of morality: slave morality and master morality. These types of morality Nietzsche proposes were initially formed when society was not actually made up of masters and slaves. In a society where masters were completely free and slaves simply had to do whatever their masters said. Based on their respective situations Nietzsche argues these two groups of people came up with two very different types of morality. Now of course there are no longer literal master and slaves in today’s society. However nietzche proposes well masters and slaves no longer exist but the moral system they came up with do. Therefore if we are to understand and evaluate morality as it exists today, we must investigate morality as it was originally defined by master and slaves. Masters are totally free. They do what they want, to whom that want, and whatever they want. How it is such a person in such a situation begin to think about morality. Nietzsche proposes a person in such a situation would begin by saying that whatever it is the approval of our desire is good. We can imagin such a list of thing such a master might approve of . he will no doubt desire to show off his courage during battle to keep power over his slaves and it demonstrates his honour in front of his fellow master. Goodness in master morality isShow MoreRelatedNietzsche s On The Genealogy Of Morals1668 Words   |  7 Pageswhat is â€Å"bad,† I chose to expand my ideas and compare them to Friedrich Nietzsche’s first essay in â€Å"On the Genealogy of Morals.† Nietzsche first debunks the ideas of Nietzsche sees two types of morality at play creating these original definitions of good bad and evil, master morality and slave morality. I will also use Nietzsche’ s concept of â€Å"will to power† to evaluate each of these ideas. Nietzsche believes that the will to power is the force that pushes humankind. To clarify for my readersRead MoreNietzsche s On The Genealogy Of Morals Essay1445 Words   |  6 Pagesmoral implications, however, it is his concepts of slave and master morality which are seen repeatedly. These two concepts of master and slave morality are particularly evident in the movie Fight Club. Although Fight Club is a modern-day movie, its storyline and subject matter reveals that it was heavily influence by Nietzsche’s concept of slave and master morality. Nietzsche first introduces the concept of slave and master morality in the chapter about â€Å"Good, bad and evil†. He explains it as aRead MoreThe Book On The Genealogy Of Morality1423 Words   |  6 PagesMasters and slaves are constantly discussed throughout Nietzsche’s work, but the connection between them is discussed best in his book On the Genealogy of Morality. The first of the three essays outlines two alternate structures for the creation of values, which is credited to masters and the other to slaves. These two structures are controlled by different intangible themes. The first is ‘good/bad’ in terms of master morality and the second is ‘evil/good’ in terms of the slave morality. Noble classesRead MoreOrigins of Morality Essay1411 Words   |  6 PagesWestern world is slave morality, a morality which puts forward ideals of fairness, equality, and democracy. However, many centuries ago during the medieval times, master morality was the norm; a morality that favors those superior in strength, beauty, intelligence, and status. Master morality preceded slave morality. Friedrich Nietzsche was a philologist, who used his knowledge of words to trace the origins of morality from their ancient definitions. He said that morality was something that manRead MoreNietzsche And Mill s Theory Of Morality Essay1505 Words   |  7 Pageshave explored the theory of ‘morality’ from different perspectives. The two philosophers appear to get along that the notion ‘morality’ has been exploited to a great extent, though a little certainty has been provided on the issue. The two philosophers agree on the complexity of the issue. Mill’s theory of ethics is based on the concept of ‘utility. The philosopher provides the meaning of the idea as it has been largely perverted. Nietzsche stipulates that ‘morality’ is not a common notion due toRead MoreFriedman Nietzsche1247 Words   |  5 Pagesoffensive and the most blasphemous ways possible. His views on morality were what got the most attention by other scholars. In h is Daybreak he called himself an â€Å"immoralist† and often criticized the morality of his day. He wanted to create a new more naturalistic source of value in the fundamental impulses of life itself. He claims that Christianity had more of a master-slave morality than anything else. He associated the master-slave morality to that of the Jewish and Christian traditions. He associatesRead MoreThis piece of work will try to find the answer to the question ‘In Nietzsche’s first essay in the600 Words   |  3 Pagesprove with this argument. It will look at his background in order to see if and how that has influenced his work and opinions. Nietzsche introduces the differences between what he names later in his first essay the master morality and slave morality. The first master morality is the ideas of the nobles, including solders and other ruling classes. This he says is power deciding what good and bad is they see the qualities they possess such as physical strength, political power, over all betterRead MoreEssay Ancient Slavery: Death Senetence or Life Opportunity?554 Words   |  3 Pages In Aristotles Justifying Slavery and Senecas On Master and Slave, the two authors express their opposing sentiments on the principles of slavery. While Aristotle describes slavery as predestined inferiority, evidenced greatly by physical attributes, Seneca emphasizes the importance of philosophical freedom as opposed to physical freedom. (p. 58). The authors contrasting views are disclosed in their judgments on the morality of slavery, the degree of freedom all people possess at birthRead MoreFriedrich Nietzsche s Influence O n Modern Intellectual History And Western Philosophy1559 Words   |  7 Pagesreligion and science. He wrote about morality, tragedy, aesthetics, atheism, epistemology and consciousness. However, some of Nietzsche s most profound elements of his philosophy include his powerful critique of reason and truth. He argued for perspectivism. He critiqued religion and Christian ethics, developed the concept of Ubermensch and the doctrine of eternal return to support it. Also, Friedman Nietzsche came up with his theory of master-slave morality and response to the death of God andRead MoreAristotle And Aristotle s Theory Of Moral Virtue1229 Words   |  5 Pagesour ambitions and wants must have some final purpose. Aristotle believes that this highest end is that of Happiness. He introduces the concept moral virtue which is the ability to properly control desires to follow bad actions, and is the focus of morality. Centered on the core of Aristotle s account of moral virtue is his doctrine o f the mean. According to this doctrine, moral virtues are character traits which are at in-between more extreme character traits. While Nietzsche a German philosopher

Queen Elizabeth I; a Powerful Ruler in England - 2773 Words

Brittany Fleetwood Barbara Whitehead History 111 6 May 2010 Queen Elizabeth I: A Powerful Ruler in History While there was no law in Tudor England preventing appointment of a woman on the throne, the ruling of a woman was considered unfavorable. Women were not normally held high in command because it was believed that women could not rule well. During a time where the role of women was contained, Elizabeth I of England proved her power and remained the only unmarried queen in England’s history. She reined England from 1558 to 1603 and has become the symbol of an age, a symbol of the power of a woman who strived to govern. Queen Elizabeth I, the Virgin Queen, is one of the most important rulers of English history by winning the†¦show more content†¦And as for the traitor Wyatt, he might peradventure write me a letter but on my faith I never received any from him; and as for the copy of my letter sent to the French King, I pray God confound me eternally if ever I sent him word, message, token or letter by any means, and to this truth I stand it to my death. Elizabeth pled her innocence – her character true and loyal to her sister – and Mary denied to meet with Elizabeth. The English stood by their Lady’s side, â€Å"when bystanders shouted ‘God save the Queen’, there was no response when the cry was ‘God save the Lady Elizabeth’, the answer came, ‘so be it’.† The people favored Lady Elizabeth over Queen Mary. When there was no evidence to prove Lady Elizabeth’s involvement against this treason, she was let go upon Wyatt’s confession that neither Elizabeth or Courtenay had any involvement in the rebellion. The importance of the dispute is that the English supported Lady Elizabeth over their own Queen. The nation’s religious state was most comparable to Elizabeth’s – she was protestant – and the Queen was, in their eyes, putting the fait of their country in reach of one of the most powerful nations during that time. The English sup ported Lady Elizabeth, even before she became Queen. Queen Mary married Philip, ruled, and died shortly after in 1558 just before sheShow MoreRelatedThe Machiavellian Struggle in Spain and England during the Reformation881 Words   |  3 Pagesas England, and a time of decline for other countries like Spain. These two particular countries, England and Spain, had two very powerful rulers who helped determine the fate of their nations. Phillip II of Spain was born into a very powerful family of extremely Machiavellian heritage. He had control of the Netherlands, Spain, parts of the North and South Americas, and parts of Asia and Brazil. He was also extremely Catholic and loyal to the Catholic Church. Queen Elizabeth I of England inheritedRead MoreEssay on Elizabeth1032 Words   |  5 Pages Elizabeth I nbsp;nbsp;nbsp;nbsp;nbsp;Were Queen Elizabeth I and Catherine the Great effective rulers? Were their reign’s characterized as good or not so well? Disregarding the opinion of those who reigned concurrently or historians today, these two ruled their country in a time of turmoil and uncertainty! The world and the people within it were undergoing a major transition. New lands were being discovered as well as major role-playing continents and countries were changing status. Some losingRead MoreA Comparison of Powerful Female Monarchs: Elizabeth I and Catherine de Medici985 Words   |  4 PagesOn the eve of her coronation, Elizabeth I said, â€Å"I will be as good unto you as ever a queen was unto her people† (Grant, 140). 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Telecity Group Plc Financal Statement Analysis Free Essays

Submitted in fulfillment of assignment 1 of Financial and Management Accounting course Telecity Group plc Background Founded in 1998 with the establishing of the first data centre in Manchester, Telecity Group plc is operating a carrier-neutral data centre in Europe to support digital economy. It is a combination of TeleCity Limited, Redbus Interhouse Limited and Globix Holdings (UK) Limited. As a leading provider of data centre services, Telecity Group plc is listed in London Stock Exchange. We will write a custom essay sample on Telecity Group Plc Financal Statement Analysis or any similar topic only for you Order Now In the meanwhile, it is is a constituent of the FTSE 250, FTSE techMARK 100 and FTSE4 Good indices. Driven by the rapidly increasing of digital economy, Telecity Group has been targeting to build secure, resilient and highly-connected colocation environments for the IT and telecoms equipment, to which customers can outsource their telecoms, web and IT infrastructures. For this purpose, Telecity Goup has launched the demand-driven data expansion programme, which is expanding its data center capacity through Europe. This European-based programme is expected to increase customer power capacity, which will in turn bust company economic of scale. Furthermore, as an Information Technology Company, Telecity Group has been highly relying on high and new technology to attract new customers and increase profits. Thus, much effort has been put into company’s ability to innovate new products and services in terms of data accessibility, security and specialty. Focusing on evaluating the implementation of its growth strategy, this paper will analyse it is financial statement base on the basic financial ratios. Ratios Analysis Introduction This section will evaluate Telecity Group plc’s financial ratios in detail. Other than looking at the past and present performance trends of the Group, this essay will also discover the company’s financial performance in comparison to Datacenter industry overall. Consequently, company management team will be able to determine the short term forecast of future performance. Furthermore, the analysis in this section can give guidance to investors by providing data and giving realistic view of Telecity Group’s inancial position and comparison to the industry. Profitability Ratios Given the important role profit plays as financing both dividends to shareholders and retained earnings, it is the main measure of financial performance. Figure 1 Profitability Ratios (GPM- Gross profit margin, OPM- Operational profit margin) As can be seen from figure 2, the gross profit was dramatically increased from 52% to 56 % through year 2010, and there wa s impressively improvement for year 2011. This can be explained by company’s successfully implementation of its growth strategy. On one side, driven by the high demanding of digital economy, the company has been focusing on increasing earnings by expanding data centre capacity and adopting new technology. On the other hand, along with the growth there is high cost. However, the even higher revenue growth still made the growth of gross profit margin. Operation profit was slightly decrease in year 2011, which implies high administrative costs in 2011. This is mainly because of a total amount of ? ,510,000 provisions respect of certain leases and the acquisition with Data Electronics and UK Grid, the costs of which were accounted in operational exceptional items in consolidated income statement. Figure 2 Profitability Ratios (PreTPM- Pre-tax profit margin, PostTPM- Post-tax profit margin) The pre-tax profit margin has also significantly improved from near 23. 5 % to about 25 % in 2011. One of reasons of this improvement is the gains on foreign exchange. The most important reason should be the write off of costs incurred on refinancing, which was an ? 00m five-year financing agreement with Barclays, HSBC, Lloyds Banking Group and RBS from last year. Unlike PreTMP, post-tax profit margin has dropped impressively to about 17. 6 %. This may be mainly because of the dramatically increment in both current tax and deferred tax. Figure 3 Profitability Ratios (ROCE- Returns on capital employed, ROE- Returns on equity) Figure 3 shows that The Telecity Group’s average ROE is comparable to industry ratio which is 7. 1% up to year 2010. However, in terms of growth, the trend is dramatically going down from 2009, which is despite the fact that both total equity and profit after tax have been improved. However, the growth of profit was not in pace with the equity. In fact, this makes sense when take into account the company’s expansion strategy, which has been being successfully implemented by setting up new data centres across Europe. A big money has been invested in this expansion program, which in turn provided the company high potential turn-over. In general, financial analysts consider return on equity ratios in the 15-20% range as representing attractive levels of investment quality. In this sense, the company’s performance is healthy with regards to efficiency of profitability. ROCE is one of Telecity Group key performance indicator, which is added to evaluate company’s strategy of focusing earnings return from investment. ROCE was decreased during year 2011, which was due to the company’s capacity expansion programme and acquisitions’ effect. Even though, the company’s performance in terms of generating returns is healthy in comparison with industry average rate at about 8%. Liquidity Rations Liquidity ratios are to measure a company’s ability to pay off its short-term financial obligations (Atrill and McLaney, 2011). Figure 4 Liquidity Ratios In theory, the higher current ratio is better as it clearly identifies the company’s ability to pay off short debts fund its on-going operations. (Investpedia, 2009) In the case of Telecity Group, its average current ratio shows that the current assets are not able to cover its current liabilities. This is mainly because the company has invested a big money into company’s capacity expansion program and acquisition, which are holding most of company’s capital. However, the average rate is comparable to the industry as a whole at 0. 8. Trade receivable days are healthy between 25 and 40 days over the year from 2009 to 2011, there is even a decrease from 40 days to 35 days in year 2011. This is due to the demanding digital economy market. Financial Gearing Financial gearing happens when business is financed in a way of borrowing (Atrill and McLaney, 2011). The analysis of gearing ratios is to evaluate the business’s level of gearing, which is the key factor of assessing risk. Figure 5 Gearing Rations (D/E- Debts to equity, ND/E- Net debt to equity) Figure 5 shows that gross debt to equity has increased from about 30% to over 60% in year 2011 after a slightly decreasing in year 2010, which indicates Telecity Group is highly geared in 2011. This is because the significantly increase of non-current borrowing for company’s capacity expansion program and the two acquisitions. Net debt to equity is concerned with company cash to repay the borrowings. It has impressively increased to more than 60% as well demonstrating that risk exists at Telecity Group’s failure. Figure 6 Gearing Ratios (IC- Interest covre, NIC- Net interest cover) Interest cover ratio measures the amount of operating profit available to cover interest payable(Atrill and McLaney, 2011)†. As can be seen from figure 6, gross interest cover has fallen from 11 % to 10. 4 % in 2011. In terms of net interest cover which takes into account finance income, the cover ratios were slightly increased. Overall, the figures are showing that Telecity Group has t he strong ability to service its debt. Cash flow analysis CFPS is concerned with the company ability of generating cash. Therefore, it is commonly referred by analysts for more accurate measure of a company’s financial situation. Figure 7 Cash flow ratios (EPS- Earnings per share) The CFPS has increased from 37 pence in 2009 to 60 pence in 2011. The EPS is averagely higher then CFPS as we would commonly expected. Both EPS and CFPS have increased over the two years. The main reasons for the increase and the difference between CFPS and EP as follows: 1. Movement in foreigner exchange 2. Movement in trade receivables and trade payables 3. Depreciation charge 4. Cost of exceptional items To sum up, the net cash flow from operating activities has significantly improved by 25 % to over ? 120million. Over ? 00 million was spent on investment activities, which include capacity expansion program and acquisition activities. Investment analysis â€Å"Investment ratios are designed to help shareholder to assess the returns on their investment† (Atrill and McLaney, 2011). Earnings per share have risen from 19p to 21p in 2011, which is basically because of the increasing profit margin over the year. Conclusion As ca n be seen from above, the Telecity Group plc has gone through a stable healthy financial year with regards the implementation of its growth strategy. Telecity Group’s profitability stayed stable and healthy in the near two years. The low profit increment was due to the company’s expansion and acquisition strategy. Given the fact that data centre services is demanding in digital economy, Teleicty Group’s successfully expansion and acquisition will in turn make big returns. Liquidity is poor in terms of ability to cover its current liabilities. However, given the industry ratio being 0. 58, it is comparable healthy in the market. Furthermore, the short trade receivable days imply the high market demands in the data centre industry. Company’s gearing has risen to extremely high level due to its growth strategy. From investor’s perspective, there would be risk of investing in the case of company’s failure. However, take into the consideration of the characters of data centre industry, which are demanding the high capacity, connectivity and flexible services, Telecity group are in no way to failure as it has achieved successful implementation of its business across Europe and gained the potential of attracting new contract with exiting as well as new customers. Overall, the Telecity has been seeking the best practise within the data centre industry as a leading provider of premium carrier-neutral data centres. As the result of its successful capacity expansion and acquisitions, the further high turnover is inevitably. Appendix 1 Profitability| Gross Profit Margin| =| Gross Profit/Revenue%| ? | ? | 2009| =| 88,727| /| 169,383| %| =| 52. 4%| 2010| =| 109,773| /| 196,397| %| =| 55. 9%| 2011| =| 134,701| /| 239,818| %| =| 56. 2%| ?| Operating Profit Margin| =| Operating profit/Revenue%| | ? | 2009| ? | 39,102| /| 169,383| %| =| 23. 1%| 2010| =| 55,173| /| 196,397| %| =| 28. 1%| 2011| =| 65,359| /| 239,818| %| =| 27. 3%| ?| Pre-tax profit Margin| =| Profit before tax/Revenue%| ? | ? | 2009| =| 38120| /| 169,383| %| =| 22. %| 2010| =| 45,941| /| 196,397| %| =| 23. 4%| 2011| =| 59,438| /| 239,818| %| =| 24. 8%| ?| ? | ? | ? | ? | ? | ? | ? | Post-tax profit Margin| =| Profit after tax/Revenue%? | ? | 2009| =| 34722| /| 169,383| %| =| 20. 5%| 2010| =| 38,031| /| 196,397| %| =| 19. 4%| 2011| =| 42,641| /| 239,818| %| =| 17. 8%| | Return on Capital Employed| =| Operating Profit/Total Capital employ ed| ? | ? | 2009| =| 39,102| /| (80,467+218,931)| %| =| 13. 1%| 2010| =| 55,173| /| (80654+257,545)| %| =| 16. 3%| 2011| =| 65,359| /| (183,451+298,027)| %| =| 13. 6%| | Return on Equity| =| Profit after Tax| /| Equity| %| ? ? | 2009| =| 34722| /| 218,931| %| =| 15. 9%| 2010| =| 38,031| /| 257,545| %| =| 14. 8%| 2011| =| 42,641| /| 298,027| %| =| 14. 3%| Liquidity| Current Ratio| =| current Assets/Current Liabilities | 2009| =| 51,623| /| 82,961| =| 0. 6 | ? | ? | 2010| =| 46,501| /| 82,474| =| 0. 6 | ? | ? | 2011| =| 48,398| /| 103,283| =| 0. 5 | ? | ? | ?| Trade payable days| =| Trade payables/Cost of Revenue*365| 2009| =| 47,089| /| 80,656| *| 365| =| 213days| 2010| =| 47,085| /| 86,624| *| 365| =| 198days | 2011| =| 57,935| /| 105,117| *| 365| =| 201days | ?| Trade receivable days| =| Trade receivable /Revenue? | 009| =| (19,483-6,975)| /| 169,383| *| 365| =| 27days| 2010| =| (22,139-746)| /| 196,397| *| 365| =| 40days| 2011| =| (26,365-3,560)| /| 239,818| *| 365| =| 35days| Gea ring| Debt to equity| =| Non-current borrowings/Equity%| 2009| =| 80,467| /| 218,931| %| =| 36. 8%| 2010| =| 80,654| /| 257,545| %| =| 31. 3%| 2011| =| 183,451| /| 298,027| %| =| 61. 6%| ?| Net debt to equity| =| Borrowings less cash/Total Equity%? | 2009| =| (80,467-32,140)| /| 218,931| %| =| 22. 1%| 2010| =| (80,654-24,362)| /| 257,545| %| =| 21. 9%| 2011| =| (183,451-22,033)| /| 298,027| %| =| 54. 2%| | Interest Cover| =| Operating profit/Interest expense ? 2009| =| 39,102| /| 3788| =| 10. 3| ? | 2010| =| 55,173| /| 5,017| =| 11| ? | 2011| =| 65,359| /| 6,300| =| 10. 4| ? | ?| ? | ? | ? | ? | ? | ? | ? | Net Interest cover| =| Operating profit/Net Interest expense| *Net interest expense=Finance expense-interest? | 2009| =| 39,102| /| (3788-117)| =| 10. 7| ? | 2010| =| 55,173| /| (5017-11)| =| 11. 0 | ? | 2011| ? | 65,359| /| (6300-103)| =| 10. 5 | ? | Cash Flow| Cash flow per share| =| Net cash flow from operating activities/Number of equity share issued| 2009| =| 74,017| /| 198, 092| =| 0. 37365| =| 37. 4p| 2010| =| 96,380| /| 198,092| =| 0. 86542| =| 48. 7p| 2011| =| 120,554| /| 198,892| =| 0. 606128| =| 60. 6p| Investment| Earnings Per Share| ? | ? | 2010| =| 19. 0p| 2011| =| 21. 1p| References Atrill, P. and McLaney,P. (2011) Accounting and Finance for Non-Specialists. 7th. ed. Essex: Pearson Education Limited. Telecity Group plc Annual report and accounts 2011 Data centres at the heart of the digital economy, 2011 TelecityGroup. Telecity Group plc Annual report and accounts 2010 Data centres at the heart of the digital economy, 2010 TelecityGroup. http://www. investopedia. com/terms/c/currentratio. asp, Investopedia. How to cite Telecity Group Plc Financal Statement Analysis, Papers