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Family assessment is the practice of examining a family in order to help them achieve safety and stability of the entire fami
Family Assessment:
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Family assessment is the practice of examining a family in order to help them achieve safety and stability of the entire family. It involves examining the strengths, weaknesses, needs and the resources of a family. The key areas of family assessment are: children welfare and safety, family needs and examining the family strengths.
This family assessment should 1st examine the welfare and safety of the children. This is because children suffer the most in unstable families. The welfare of the children should therefore be considered first when conducting family assessment. Children may suffer from abuse and risk being harmed. Children welfare in some families may not be well catered for in some families causing psychological harm to these children. The welfare of the children should be enhanced 1st to prevent any further psychological damage. The family needs should then be reviewed as this will enable the social workers to counsel the family on how best to meet their needs. Some families lack basic needs such as, shelter, food and health care access which may affect the welfare of the children. The family needs assessment will enable the practitioners to reduce the risk of child abuse.
According to Dolgoff, Loewenberg & Harrington (2011), family assessment enables families to identify their strengths in order to improve their living standards. The family is advised on how to improve their strengths and to solve their problems. In addition, the family is counseled on appropriate ways to improve on their weaknesses. There are lots of questions that can be asked during the assessment. Some of the questions may be about the family’s income, whether the family sometimes goes without food and the health of the family especially the children. Questions on cases of physical abuse by family members may also be asked. Other possible questions may involve drug abuse cases and the access of education by the children. These questions will enable the social workers to establish the condition of the family in order to establish appropriate ways of helping them.
The questions asked and the answers given will be recorded by the counselors. If it is established that the family requires help, appropriate instructions to be followed will be written by the counselors. Daily instructions will be established for the family to follow. The family will also be warned on the behaviors and acts to avoid. These instructions and questions asked by the social workers will provide evidence of the assessment.
References
Dolgoff .R, Loewenberg .F & Harrington, D. (2011). Brooks/Cole Empowerment Series: Ethical Decisions for Social Work. Belmont, CA: Cengage Learning.
Drag Racing Documentary
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Drag Racing Documentary
Watching this documentary has not only enabled me to appreciate the science behind the introduction of the slingshot into drag racing in America, but also appreciate the important effect that slingshot drag racing brought about the sporting of drag racing. In this reflection essay, I am going to explain my understanding of the documentary, and how the introduction of the introduction of the slingshot dragster assisted the dragster racing to grow from a participant dominated sport, to a sport that attracted grand crowds of spectators. Much of the historical developmental steps that led to the dragster are explained in the documentary, but this essay focuses on the importance of the incorporation of the slingshot dragster into the drag racing sporting event.
Apart from the fact that drag racing game is one of the oldest game forms in the world, it also counts as one of the simplest game forms in the America, and in the world at large. A good part of the introduction of the documentary has majored on the explanation of drag racing, and how it used to be before the introduction of the slingshots. The simple nature of drag racing is the fact that it happens in seconds, and the determination of the winner is without complications. According to the documentary, Americans loved this game because of the noise, its brevity, spectacle, and the clarity of determining the winners.
Although the introduction of the slingshot was very beneficial to the drag racing sport, according to the documentary, there were some developments that earlier so the game popularize. Such developments also, just like the introduction of the slingshot, assisted in the attraction of grand crowds of spectators, removing the notion that drag racing was an affair of the participants. Some of the developments included the realization that spectators feared for their security, since drag racing at that time happened in the public roads. However, such safety concerns were addressed through the building of drag strips, setting of safety rules, and codifying the rules for the competition. In addition, the television played a major part for the development of the drag racing sporting.
From the documentary, drag racing lacked many participants in the beginning because it started as an amateur sport. As such, only the participants, and a few, if any spectators participated. However, the introduction of the slingshot drag racing had a bouncing impact, in terms of transforming the game from a participant only affair to both participates and spectators. As I have understood from the documentary, the drag racers aimed at getting as much weight as possible on the rear wheels by introducing the slingshot. This was also aimed at maximizing the traction between the strip and the tires. This happened in the 1950s, when many of the drag racers installed their engines at the back, in the chassis, so that the driver would sit behind the rear wheels, a phenomenon likened to a “rock in a slingshot”.
The spectacular nature of the front-engine slingshot dragster might be the feature that excited fans and made drag racing a participant and spectators affair. As I have observed from the documentary, the 2000-plus horse-power engine dragsters became the kings of the quarter miles, and there were all reasons to admire them. Further, while this observation is linked with the fact that Americans liked drag racing because of its noise, it is evident that the slingshot dragsters had a great deal of these features. For example, from the documentary, the nitro-gulping drag-race cars seem to go through the drag strips with an awesome power, a feature that seems to excite the fans more and more. The burning rubber and the smell of the nitro from the engines also seem to excite the fans, according to the documentary I watched. With the fan that the introduction of the slingshot drag racer brought, many fans went to do photographing during the racing. They thus added to the numbers of spectators, and this explains why the introduction of the slingshot drag racer led to the growth of the numbers of the spectators in the sector.
From my observations in the drag racing documentary, the shape, and the striking feature of the slingshot drag racer might also have been an attraction to the spectators. The shape was such that the driver’s torso was positioned on the extreme rearward so that it was behind the slicks and the axle. The trick, funny as it as, assisted much in the dynamic weight distribution and maximizing the static. The hefty motor could thus go very far rearward, with all the chances of crunching the driver minimized. Such an arrangement had the advantage of distributing the whole vehicle mass on the slicks, enabling a maximum forward thrust. In addition, the slingshot drag racer had the wheelbase stretched to as much distance as twice that of a normal car. To me, even after watching this documentary, the slingshot drag racer appears more of a toy, although it had a great impact in the drag race sporting.
Exxons acquisition of Mobil
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Exxon’s acquisition of Mobil
Company Overview
ExxonMobil is one of the leading companies in the oil and petroleum industry globally. Although ExxonMobil started operating as a regional oil and petroleum company in Texa, U.S., the company has grown to a global company that, which is the largest publicly traded petrochemical and petroleum international company. The company has been in operation for more than 125 years, an operation that started with regional kerosene dealers. ExxonMobil is currently a multinational company that operates in nearly all the five continents. Exxon Mobil Corp. is a multinational gas and oil company of American origin that has its headquarter in Irving, Texas, U.S. ExxonMobil was founded in 1999 following the mergers of the two companies; Exxon and Mobil, hence, a descendant of HYPERLINK “http://en.wikipedia.org/wiki/John_D._Rockefeller” o “John D. Rockefeller” Rockefeller’s HYPERLINK “http://en.wikipedia.org/wiki/Standard_Oil” o “Standard Oil” Standard Oil Co. The company is commonly affiliated with a Canadian oil company – Imperial Oil Co. By revenue, ExxonMobil is ranked third globally, and second by market capitalization. In 2013 Forbes Global 2000 listing, ExxonMobil was ranked fifth. In term of the human resource capacity, ExxonMobil has employed over 13,000 staff globally, making it one of the leading global employers. In terms of refining of the petroleum products, ExxonMobil is the largest company globally, a title that has been enjoyed with the Standard Oil, the parent company of ExxonMobil, since 1870s. ExxonMobil has over 37 oil refineries that are spread in the 21 countries that it operates in globally. The company produces over 6.3 million barrels of oil estimated to be 1,000,000,000 liters. With respect to the daily production capacity, ExxonMobil is the world’s leading oil, gas, and petroleum products with a capacity of 3.921 million oil barrels, thus accounting for about three percent of the world’s production units. ExxonMobil also accounts for about one percent of gas and oil reserves.
Products and Services
ExxonMobil is best known for its brands such as Exxon, Esso, and Mobil that are very popular among the company’s clients. ExxonMobil specializes in the production of modern transport products, lubricants, and gas products. ExxonMobil is characterized by three segments: chemicals, upstream, and downstream that specializes in the production of consumer, industrial, aviation, commercial, base-stocks, and marine lubricants. It is the upstream segment of the company that deals in gas and oil products that generates major revenues and earnings to the company. The downstream segment, on the other hand, is responsible for logistics, marketing operations, and refining. Chemicals segment of ExxonMobil Co. is charged with the responsibility of manufacturing and marketing of petrochemical products such as aromatics, polypropylene plastics, olefins, and polyethylene. ExxonMobil (XOM), therefore, offers range of worldwide recognized brands that are popular among customers for their innovation, efficiency, and innovation. The introduction of signum technology in the production and manufacturing process has enable the company to better understand and match the needs of its customers, hence producing lubricant products that are customer tailored. It is this technological integration and application that has made ExxonMobil gain a competitive advantage over its competitors in the industry.
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Company’s Criticism
The company has not been without issues and criticism, with the laxity of the management in speeding up the 1989 cleanup exercise following the Exxon Valdez’s oil spillage in Alaska. This oil spill causes major environmental damage. ExxonMobil has also faced criticism for financially supporting organizations and foundations that are particularly skeptical on the contribution of burning fossil fuels to global warming. Besides, ExxonMobil has been accused by foreign diplomats for weakening the American foreign policies and violation of human rights.
Exxon before Acquisition
Before acquisition Exxon was financial situation was slowly declining with numerous market instability. The merging of the two company aimed at expanding the controlling the market especially noting that the two company portrayed differing operation cultures. The merger ought to generate globally-based corporations that can contend to all this key market segments with the planet. Within disorders involving deflation, that has viewed the costs on most everything plummet, corporations will be powered in order to mix or maybe form alliances to produce establishments involving level which will make sure your survival for the cost of their opponents.
Reasons for Merging of Exxon and Mobil
The conspicuous push and urge and for merging of Exxon and Mobil were mainly from the variation in the business ambience. The external oil market was experience stiff condition including the plummeting of the oil prices. This case presented financial difficulties to the involved companies thus merging was one of the most dependable ways to reverse the ever-growing gap in the market in the market. The price tag on oil per barrel had dropped significantly to between $9. 87 and $10 in the London market, Eighty five percent inside US–a drop with on price involved nearly 50 per cent in the last 12 months.
The merger between key essential oil corporations Exxon and Mobil will probably was aimed at generate not merely this world’s largest essential oil company but also the most important company in terms of profit. It is merged revenue with the very first 9 several weeks involving 1998 would’ve been recently $119 billion dollars when compared to the $115 billion dollars generated by the world’s largest company, General Power generators. The offer, valued in more than $75 billion dollars by simply analysts, shows the most significant professional merger of all time. It’s much bigger than the last document, which furthermore happened inside petro-chemical business. Of which nation, in between British Isles Oil as well as the US-based Amoco, was worth $48. 2 billion dollars and made this world’s 3rd largest essential oil maker. This arriving together involving Exxon and Mobil will probably forge some sort of company involving huge dimensions. Exxon-Mobil’s elementary essential oil manufacturing will probably outstrip that involving Nigeria and many various other people with the Group involving Oil Conveying Countries. It is profit will probably be larger than this major domestic item of nevertheless twenty three nations. Will probably be this world’s largest dealer involving petrol, with regarding forty seven, 500 areas worldwide and about 12-monthly benefit involving almost $12 billion dollars.
Pros and Cons of Merger of Exxon-Mobil
Merging possesses its own benefits and drawbacks. A key benefit of the t Exxon Mobil was easy and recognizable by law and did not cost around other designs associated with exchange. The companies (Exxon and Mobil) simply accepted to combine their particular complete businesses. There was no requirement to exchange concept to particular person assets on the received agency towards the getting agency. The merging of the two companies lowered competition considerably thus conveying more fiscal skin scales on the market. This will ultimately kept the business progress with the amalgamation on the competing attributes of equally firms. Merging made it possible for the organization to restructure and fortify the corporation seeing that firms mixed up in purchase reveal ways of reinforce the corporation, hence get rid of weak points inside agency.
The decision-making process following the merger possibly lead to generation of positive results as new form of skill was incorporated in the managerial practices of the amalgamated firms. Exxon-Mobil subsequently spent money on more substantial investment decision to yield more earnings. Further, the merging of the two companies was able to realize more market reveal, hence affects greater self-confidence from their clients because the firm then appeared more reputable. Which effects enhance associated with clients and as well appeals to some other events to get human relationships with the group inside many sorts. Merging of the two companies brought several undoing also. One of many disadvantages was that the merging had to be accredited by means of ballots on the stockholders of firms. Legally, it was a requirement of two-thirds (or even more) on the reveal ballots are important pertaining to authorization. Getting the required ballots was time-consuming and hard. On top of that, the actual cooperation on the focus on firms’ supervision was absolutely essential to get a merging. This particular cooperation most likely was inexpensively obtained. Also, the actual diseconomies associated with range in the event company turn out to be too large leading to raised unit costs. It is will also create clashes associated with traditions involving unique variations of company. So this kind of lowers the potency of the actual integration.
Merging in addition possibly be developing a clash associated with objective involving distinct firms, this means decisions tend to be more hard to make and causing dysfunction inside working on the company. It also effects dissatisfaction amongst present employees seeing that opportunities will probably be minimal and the supervision have to make a decision which often employees to support the career after the purchase has brought spot. However, the process of downsizing, restructuring and personal savings will probably deepen this situation with the benefit program in its entirety by simply lowering the quantity of job employed–the just source of surplus worth and benefit. It’s going to exacerbate this deflationary routine today dominant practically in most industries. As long as this huge world-wide profitable allows and personal success developed by human labour remains concentrated inside grasp with the transnational businesses as well as the professional and personal elites, it’ll necessarily mean more and more challenging problems around the working school. A new impressive paradox possesses blossomed. This “overcapacity” or maybe surplus involving profitable potential in many industries, whether it is essential oil, cars, drugs, foodstuff manufacturing, metal, computers or maybe every other, is only extra on the perspective with the marketplace as well as the removal involving individual benefit. The specific wants involving lots of people haven’t been recently increased (Palepu, Krishna and Paul 78-9).
Financial Analysis Before and After the Acquisition
Management Effectiveness
The Return on Assets (ROA) of Exxon and Mobil was 6.75% and 3.95% respectively before the merger. This was an indication that Exxon had a better asset management policy compared to Mobil since its ROA was almost twice better. However, after the acquisition and merger of the two companies to form ExxonMobil, the ROA ratio increased to 12.04%. This was an indication that the company’s asset management significantly improved with the assets having the capacity to generate revenue more than doubling. From the ROA ratio, it is worth noting that the merger was profitable and beneficial to two companies following the merger. Since the ROA ratio exceed the 5% that is perceived good, ExxonMobil, therefore, is effectively utilizing its assets to generate revenue and profits. Similarly, the company’s return on equity (ROE) increased to 26.33% after the merger of the two companies. Before the merger, Mobil and Exxon had a ROE of 9.01% and 14.57% respectively. The merger, therefore, increased the effectiveness of ExxonMobil to utilize its equities to improve on its profitability index and revenue capacity. The ExxonMobil’s return on investments (ROI) was better than the RIO in for each company before forming the merger as it increased to 33.61 percent from the average rate of 16.00 percent before the mergers. From the management’s point of view with respect effectiveness, there is no doubt that this merger and acquisition was beneficial to the two companies as the effectiveness of the management doubled.
Profitability Performance of the ExxonMobil
The profitability measures indicated the mergers between Exxon and Mobil was positive and more profitable than when the two companies were operating independently. Although the gross profit margin of ExxonMobil Co. was slightly lower than that of Exxon and Mobil at 35.4% from 38.61%, the merger increased the profitability index of the ExxonMobil. The increased in the profitability indices of ExxonMobil was evidenced by the increased in the net profit margin from 5.4% and 3.18% for Exxon and Mobil respectively to over 7.6 percent for ExxonMobil Co. In addition, the EBIT margin for ExxonMobil was better than that of each company before the merger. The financial statement of ExxonMobil revealed that the company’s EBIT was 15.38% after the mergers, a figure that showed an improvement from 12.31% and 11.85% posted by Exxon and Mobil before the merger. The operating profit margin also doubled to 12.1% after the merger. The profitability measures evidenced that the merger was effective and more profitable than when each company was operating independently.
Liquidity Ratios After and Before the Merger
The short-term liquidity position of ExxonMobil was stronger after the merger with the quick ratio of ExxonMobil being 0.79 which was better than 0.57 and 0.48 for Exxon and Mobil before the merger. This was an indication that the merger strengthened the company’s ability to meet its short-term financial obligation when they fall due. The current ratio of ExxonMobil increased to 1.06 from 0.67 and 0.91 for Mobil and Exxon respectively. With the current ratio being more than 1.00, ExxonMobil was, therefore, well placed to meet its most liquid short-term liabilities such as account payable. The current assets expressed as percentage of the total assets was negative before the merger, but significantly increased after the merger to 1.48. From the liquidity position, the merger was profitable and effective as the liquidity position of ExxonMobil improved.
Share Performance
Following the merger of Exxon and Mobil to form ExxonMobil Co, the cash flow per share improved from $2.28 to $3.29, an indication that the cash flow per share for ExxonMobil was better than that of Exxon, but slightly lower than that of Mobil, which had $7.08 cash flow per share. The book value per share after the merger was equally better at $10.21. The merger had no significant contribution to the earnings per share. The EPS before and after the merger did not significantly changed as it stood at $2.56. However, the value of the company, measured by the stock price indicated that the merger improved the company’s market value, as attributed to the rise in the stock prices of the ExxonMobil. In term of share prices, Mobil’s share traded at $75.25 while Exxon’s shares were trading for $72.00 before the merger. After the merger, the ExxonMobil’s share traded for over $95 per share, thus, and increased in the capitalization.
Financial Performance of ExxonMobil Co
Financial Data in USD millions HYPERLINK “http://en.wikipedia.org/wiki/ExxonMobil” l “cite_note-43” [43]
Year-end 2005 2006 2007 2008 2009 2010
Total revenue 358 955 365 467 390 328 459 579 301 586 383 221
Net income 36 130 39 500 40 610 45 220 19 280 30 460
Total assets 208 335 219 015 242 082 228 052 233 323 Total debt 7 991 8 347 9 566 9 425 9 605
Conclusion and Summary
Both Exxon and Mobil were relatively stable companies characterized by strong financial position and performance. However, following the increasing competitiveness of the industry in the U.S., there was need for the two companies to merger in order to strengthen their positions and market dominance. The merger that officially took place in 1999 marked a new beginning for the two companies. Since Exxon was more stable and stronger than Mobil, the merger agreement concluded that Mobil be absorbed by the Exxon with the two forming ExxonMobil Co. The merger was beneficial and effective both to the shareholders and management. The financial performance of ExxonMobil was much better than each independent company. This was measured by the increased profitability, asset position, and improved liquidity position of ExxonMobil. It is, therefore, worth concluding the mergers between Mobil and Exxon was economical and effective, hence profitable to all parties involved in the process.
Works Cited
Coll, S. Private Empire: ExxonMobil and American power, 2012. Print.
Omeje, Kenneth C. High Stakes and Stakeholders: Oil Conflict and Security in Nigeria. Aldershot [u.a.: Ashgate, 2006. Print.
Palepu, Krishna G, and Paul M. Healy. Business Analysis & Valuation: Using Financial Statements. Mason, OH: Thomson/South-Western, 2008. Print.
Palepu, Krishna G, and Paul M. Healy. Business Analysis & Valuation: Using Financial Statements. Mason, OH: Thomson/South-Western, 2008. Print.
Susan V. Crosson; Belverd E., Jr Needles; Needles, Belverd E.; Powers, Marian. Principles of Accounting. Boston: Houghton Mifflin, 2013: 209-211.
Appendix: Consolidated Balance Sheet
Assets
Current Assets
Cash And Cash Equivalents 4,913,000 9,923,000 13,068,000
Short Term Investments – – –
Net Receivables 33,152,000 34,987,000 38,642,000
Inventory 16,135,000 14,542,000 15,024,000
Other Current Assets 5,108,000 5,008,000 6,229,000
Total Current Assets 59,308,000 64,460,000 72,963,000
Long Term Investments 36,328,000 34,718,000 34,333,000
Property Plant and Equipment 243,650,000 226,949,000 214,664,000
Goodwill – – –
Intangible Assets – – –
Accumulated Amortization – – –
Other Assets 7,522,000 7,668,000 9,092,000
Deferred Long Term Asset Charges – – –
Total Assets 346,808,000 333,795,000 331,052,000
Liabilities
Current Liabilities
Accounts Payable 55,916,000 60,486,000 69,794,000
Short/Current Long Term Debt 15,808,000 3,653,000 7,711,000
Other Current Liabilities – – –
Total Current Liabilities 71,724,000 64,139,000 77,505,000
Long Term Debt 11,633,000 11,483,000 9,322,000
Other Liabilities 42,426,000 48,943,000 46,863,000
Deferred Long Term Liability Charges 40,530,000 37,570,000 36,618,000
Minority Interest 6,492,000 5,797,000 6,348,000
Negative Goodwill – – –
Total Liabilities 172,805,000 167,932,000 176,656,000
Stockholders’ Equity
Misc Stocks Options Warrants – – –
Redeemable Preferred Stock – – –
Preferred Stock – – –
Common Stock 10,077,000 9,653,000 9,512,000
Retained Earnings 387,432,000 365,727,000 330,939,000
Treasury Stock (212,781,000) (197,333,000) (176,932,000)
Capital Surplus – – –
Other Stockholder Equity (10,725,000) (12,184,000) (9,123,000)
Total Stockholder Equity 174,003,000 165,863,000 154,396,000
Net Tangible Assets 174,003,000 165,863,000 154,396,000