Planned Change at the San Diego County Regional Airport Authority Essay

Planned Change at the San Diego County Regional Airport Authority In 2001 (SDCRAA) was created to be implemented in 2003 by the senior director of the aviation division in the port of San Diego, Thella Bowens. She was held responsible for the transition of operations from the airport authority to SDCRAA. Because Bowens had a good experience in the organization, this made her important in providing support to the operation in develops the transition plan as well as dealing with legal and regulatory issues. The group led by Thella Bowens understood the importance of SDCRAA quickly becoming a separate organization and suggested studying the existing strategic plan to gather the needed resources for this project. Bowens chartered the Airtport Transition Team to ensure the smooth and seamless transfer of operations and public services provided by the airport. In May 2002, seven employees were selected from the Aviation Division to improve members of the Airport Transition Team .The method was to get people with the ability to work within a process yet think outside of the box, to communicate well with others in a team, and influence directors without having formal authority. The plan phase also determined the when, where, and how of the plan. A â€Å"war room† was established for the team to and serves as a communication hub. The team named themselves the â€Å"Metamorphs† and many of its members came from different parts of the organization. SDCRAA had only one worker in 2002 which is Thella Browens she was dealing with regulatory issues at that time such as property transfer and the transitioning of workers. She also helped in passing the legislation which insured the employees their jobs. Furthermore, Browens renegotiated the union contract together with working beside an external counsel and state senators. The implementation process required a decision on the best way to bring about the change. The strategic plan evolved during the transition, had two important elements: human resources and communication plans. The human resources plan specified the transition of 145 budgeted Aviation Division employees to 52 vacancies plus the 90 othe r positions. The airport transition plan contained a special emphasis on the needs of the employee. Bowens included a number of change management education sessions for all employees.

Solutions of Financial Management

Chapter 1 An Overview of Financial Management Learning Objectives After reading this chapter, students should be able to: ? Identify the three main forms of business organization and describe the advantages and disadvantages of each one. ? Identify the primary goal of the management of a publicly held corporation, and understand the relationship between stock prices and shareholder value. ? Differentiate between what is meant by a stock’s intrinsic value and its market value and understand the concept of equilibrium in the market. Briefly explain three important trends that have been occurring in business that have implications for managers. ? Define business ethics and briefly explain what companies are doing in response to a renewed interest in ethics, the consequences of unethical behavior, and how employees should deal with unethical behavior. ? Briefly explain the conflicts between managers and stockholders, and explain useful motivational tools that can help to prevent t hese conflicts. Identify the key officers in the organization and briefly explain their responsibilities. Lecture Suggestions Chapter 1 covers some important concepts, and discussing them in class can be interesting. However, students can read the chapter on their own, so it can be assigned but not covered in class. We spend the first day going over the syllabus and discussing grading and other mechanics relating to the course. To the extent that time permits, we talk about the topics that will be covered in the course and the structure of the book.We also discuss briefly the fact that it is assumed that managers try to maximize stock prices, but that they may have other goals, hence that it is useful to tie executive compensation to stockholder-oriented performance measures. If time permits, we think it’s worthwhile to spend at least a full day on the chapter. If not, we ask students to read it on their own, and to keep them honest, we ask one or two questions about the mate rial on the first mid-term exam.One point we emphasize in the first class is that students should print a copy of the PowerPoint slides for each chapter covered and purchase a financial calculator immediately, and bring both to class regularly. We also put copies of the various versions of our â€Å"Brief Calculator Manual,† which in about 12 pages explains how to use the most popular calculators, in the copy center. Students will need to learn how to use their calculators immediately as time value of money concepts are covered in Chapter 2. It is important for students to grasp these concepts early as many of the remaining chapters build on the TVM concepts.We are often asked what calculator students should buy. If they already have a financial calculator that can find IRRs, we tell them that it will do, but if they do not have one, we recommend either the HP-10BII or 17BII. Please see the â€Å"Lecture Suggestions† for Chapter 2 for more on calculators. DAYS ON CHAPT ER: 1 OF 58 DAYS (50-minute periods) Answers to End-of-Chapter Questions 1-1When you purchase a stock, you expect to receive dividends plus capital gains. Not all stocks pay dividends immediately, but those corporations that do, typically pay dividends quarterly.Capital gains (losses) are received when the stock is sold. Stocks are risky, so you would not be certain that your expectations would be met—as you would if you had purchased a U. S. Treasury security, which offers a guaranteed payment every 6 months plus repayment of the purchase price when the security matures. 1-2No, the stocks of different companies are not equally risky. A company might operate in an industry that is viewed as relatively risky, such as biotechnology—where millions of dollars are spent on R&D that may never result in profit.A company might also be heavily regulated and this could be perceived as increasing its risk. Other factors that could cause a company’s stock to be viewed as re latively risky include: heavy use of debt financing vs. equity financing, stock price volatility, and so on. 1-3If investors are more confident that Company A’s cash flows will be closer to their expected value than Company B’s cash flows, then investors will drive the stock price up for Company A. Consequently, Company A will have a higher stock price than Company B. -4No, all corporate projects are not equally risky. A firm’s investment decisions have a significant impact on the riskiness of the stock. For example, the types of assets a company chooses to invest in can impact the stock’s risk—such as capital intensive vs. labor intensive, specialized assets vs. general (multipurpose) assets—and how they choose to finance those assets can also impact risk. 1-5A firm’s intrinsic value is an estimate of a stock’s â€Å"true† value based on accurate risk and return data. It can be estimated but not measured precisely.A sto ck’s current price is its market price—the value based on perceived but possibly incorrect information as seen by the marginal investor. From these definitions, you can see that a stock’s â€Å"true long-run value† is more closely related to its intrinsic value rather than its current price. 1-6Equilibrium is the situation where the actual market price equals the intrinsic value, so investors are indifferent between buying or selling a stock. If a stock is in equilibrium then there is no fundamental imbalance, hence no pressure for a change in the stock’s price.At any given time, most stocks are reasonably close to their intrinsic values and thus are at or close to equilibrium. However, at times stock prices and equilibrium values are different, so stocks can be temporarily undervalued or overvalued. 1-7If the three intrinsic value estimates for Stock X were different, I would have the most confidence in Company X’s CFO’s estimate. In trinsic values are strictly estimates, and different analysts with different data and different views of the future will form different estimates of the intrinsic value for any given stock.However, a firm’s managers have the best information about the company’s future prospects, so managers’ estimates of intrinsic value are generally better than the estimates of outside investors. 1-8If a stock’s market price and intrinsic value are equal, then the stock is in equilibrium and there is no pressure (buying/selling) to change the stock’s price. So, theoretically, it is better that the two be equal; however, intrinsic value is a long-run concept. Management’s goal should be to maximize the firm’s intrinsic value, not its current price.So, maximizing the intrinsic value will maximize the average price over the long run but not necessarily the current price at each point in time. So, stockholders in general would probably expect the firmâ⠂¬â„¢s market price to be under the intrinsic value—realizing that if management is doing its job that current price at any point in time would not necessarily be maximized. However, the CEO would prefer that the market price be high—since it is the current price that he will receive when exercising his stock options.In addition, he will be retiring after exercising those options, so there will be no repercussions to him (with respect to his job) if the market price drops—unless he did something illegal during his tenure as CEO. 1-9The board of directors should set CEO compensation dependent on how well the firm performs. The compensation package should be sufficient to attract and retain the CEO but not go beyond what is needed. Compensation should be structured so that the CEO is rewarded on the basis of the stock’s performance over the long run, not the stock’s price on an option exercise date.This means that options (or direct stock awards) sho uld be phased in over a number of years so the CEO will have an incentive to keep the stock price high over time. If the intrinsic value could be measured in an objective and verifiable manner, then performance pay could be based on changes in intrinsic value. However, it is easier to measure the growth rate in reported profits than the intrinsic value, although reported profits can be manipulated through aggressive accounting procedures and intrinsic value cannot be manipulated.Since intrinsic value is not observable, compensation must be based on the stock’s market price—but the price used should be an average over time rather than on a spot date. 1-10The three principal forms of business organization are sole proprietorship, partnership, and corporation. The advantages of the first two include the ease and low cost of formation. The advantages of the corporation include limited liability, indefinite life, ease of ownership transfer, and access to capital markets.The disadvantages of a sole proprietorship are (1) difficulty in obtaining large sums of capital; (2) unlimited personal liability for business debts; and (3) limited life. The disadvantages of a partnership are (1) unlimited liability, (2) limited life, (3) difficulty of transferring ownership, and (4) difficulty of raising large amounts of capital. The disadvantages of a corporation are (1) double taxation of earnings and (2) setting up a corporation and filing required state and federal reports, which are complex and time-consuming. 1-11Stockholder wealth maximization is a long-run goal.Companies, and consequently the stockholders, prosper by management making decisions that will produce long-term earnings increases. Actions that are continually shortsighted often â€Å"catch up† with a firm and, as a result, it may find itself unable to compete effectively against its competitors. There has been much criticism in recent years that U. S. firms are too short-run profit-oriente d. A prime example is the U. S. auto industry, which has been accused of continuing to build large â€Å"gas guzzler† automobiles because they had higher profit margins rather than retooling for smaller, more fuel-efficient models. -12Useful motivational tools that will aid in aligning stockholders’ and management’s interests include: (1) reasonable compensation packages, (2) direct intervention by shareholders, including firing managers who don’t perform well, and (3) the threat of takeover. The compensation package should be sufficient to attract and retain able managers but not go beyond what is needed. Also, compensation packages should be structured so that managers are rewarded on the basis of the stock’s performance over the long run, not the stock’s price on an option exercise date.This means that options (or direct stock awards) should be phased in over a number of years so managers will have an incentive to keep the stock price hig h over time. Since intrinsic value is not observable, compensation must be based on the stock’s market price—but the price used should be an average over time rather than on a spot date. Stockholders can intervene directly with managers. Today, the majority of stock is owned by institutional investors and these institutional money managers have the clout to exercise considerable influence over firms’ operations.First, they can talk with managers and make suggestions about how the business should be run. In effect, these institutional investors act as lobbyists for the body of stockholders. Second, any shareholder who has owned $2,000 of a company’s stock for one year can sponsor a proposal that must be voted on at the annual stockholders’ meeting, even if management opposes the proposal. Although shareholder-sponsored proposals are non-binding, the results of such votes are clearly heard by top management. If a firm’s stock is undervalued, t hen corporate raiders will see it to be a bargain and will attempt to capture the firm in a hostile takeover.If the raid is successful, the target’s executives will almost certainly be fired. This situation gives managers a strong incentive to take actions to maximize their stock’s price. 1-13a. Corporate philanthropy is always a sticky issue, but it can be justified in terms of helping to create a more attractive community that will make it easier to hire a productive work force. This corporate philanthropy could be received by stockholders negatively, especially those stockholders not living in its headquarters city.Stockholders are interested in actions that maximize share price, and if competing firms are not making similar contributions, the â€Å"cost† of this philanthropy has to be borne by someone–the stockholders. Thus, stock price could decrease. b. Companies must make investments in the current period in order to generate future cash flows. Sto ckholders should be aware of this, and assuming a correct analysis has been performed, they should react positively to the decision. The Mexican plant is in this category. Capital budgeting is covered in depth in Part 4 of the text.Assuming that the correct capital budgeting analysis has been made, the stock price should increase in the future. c. U. S. Treasury bonds are considered safe investments, while common stock are far more risky. If the company were to switch the emergency funds from Treasury bonds to stocks, stockholders should see this as increasing the firm’s risk because stock returns are not guaranteed—sometimes they go up and sometimes they go down. The firm might need the funds when the prices of their investments were low and not have the needed emergency funds.Consequently, the firm’s stock price would probably fall. 1-14a. No, TIAA-CREF is not an ordinary shareholder. Because it is one of the largest institutional shareholders in the United St ates and it controls nearly $280 billion in pension funds, its voice carries a lot of weight. This â€Å"shareholder† in effect consists of many individual shareholders whose pensions are invested with this group. b. The owners of TIAA-CREF are the individual teachers whose pensions are invested with this group. c. For TIAA-CREF to be effective in wielding its weight, it must act as a coordinated unit.In order to do this, the fund’s managers should solicit from the individual shareholders their â€Å"votes† on the fund’s practices, and from those â€Å"votes† act on the majority’s wishes. In so doing, the individual teachers whose pensions are invested in the fund have in effect determined the fund’s voting practices. 1-15Earnings per share in the current year will decline due to the cost of the investment made in the current year and no significant performance impact in the short run. However, the company’s stock price should increase due to the significant cost savings expected in the future. -16The board of directors should set CEO compensation dependent on how well the firm performs. The compensation package should be sufficient to attract and retain the CEO but not go beyond what is needed. Compensation should be structured so that the CEO is rewarded on the basis of the stock’s performance over the long run, not the stock’s price on an option exercise date. This means that options (or direct stock awards) should be phased in over a number of years so the CEO will have an incentive to keep the stock price high over time.If the intrinsic value could be measured in an objective and verifiable manner, then performance pay could be based on changes in intrinsic value. Since intrinsic value is not observable, compensation must be based on the stock’s market price—but the price used should be an average over time rather than on a spot date. The board should probably set the CEOà ¢â‚¬â„¢s compensation as a mix between a fixed salary and stock options. The vice president of Company X’s actions would be different than if he were CEO of some other company. 17.Setting the compensation policy for three division managers would be different than setting the compensation policy for a CEO because performance of each of these managers could be more easily observed. For a CEO an award based on stock price performance makes sense, while in this situation it probably doesn’t make sense. Each of the managers could still be given stock awards; however, rather than the award being based on stock price it could be determined from some observable measure like increased gas output, oil output, etc. Answers to End-of-Chapter ProblemsWe present here some intermediate steps and final answers to end-of-chapter problems. Please note that your answer may differ slightly from ours due to rounding differences. Also, although we hope not, some of the problems may have mor e than one correct solution, depending on what assumptions are made in working the problem. Finally, many of the problems involve some verbal discussion as well as numerical calculations; this verbal material is not presented here. 2-1FV5 = $16,105. 10. 2-2PV = $1,292. 10. 2-3I/YR = 8. 01%. 2-4N = 11. 01 years. 2-5N = 11 years. 2-6FVA5 = $1,725. 22; FVA5 Due = $1,845. 99. 2-7PV = $923. 98; FV = $1,466. 4. 2-8PMT = $444. 89; EAR = 12. 6825%. 2-9a. $530. d. $445. 2-10a. $895. 42. b. $1,552. 92. c. $279. 20. d. $499. 99; $867. 13. 2-11a. 14. 87%. 2-12b. 7%. c. 9%. d. 15%. 2-13a. 10. 24 years. c. 4. 19 years. 2-14a. $6,374. 97. d(1). $7,012. 47. 2-15a. $2,457. 83. c. $2,000. d(1). $2,703. 61. 2-16PV7% = $1,428. 57; PV14% = $714. 29. 2-179%. 2-18a. Stream A: $1,251. 25. 2-19a. $423,504. 48. b. $681,537. 69. c(2). $84,550. 80. 2-20Contract 2; PV = $10,717,847. 14. 2-21a. 30-year payment plan; PV = $68,249,727. b. 10-year payment plan; PV = $63,745,773. c. Lump sum; PV = $61,000,000. 2-22a . $802. 43. c. $984. 88. 2-23a. $881. 7. b. $895. 42. c. $903. 06. d. $908. 35. e. $910. 97. 2-24a. $279. 20. b. $276. 84. c. $443. 72. 2-25a. $5,272. 32. b. $5,374. 07. 2-26$17,290. 89; $19,734. 26. 2-27a. Bank A = 4%. 2-28INOM = 7. 8771%. 2-293%. 2-30a. E = 63. 74 yrs. ; K = 41. 04 yrs. b. $35,825. 33. 2-31a. $35,459. 51. b. $27,232. 49. 2-32$496. 11. 2-33$17,659. 50. 2-34a. PMT = $10,052. 87. b. Yr 3: Int/Pymt = 9. 09%; Princ/Pymt = 90. 91%. 2-35a. PMT = $34,294. 65. b. PMT = $7,252. 78. c. Balloon PMT = $94,189. 69. 2-36a. $5,308. 12. b. $4,877. 09. 2-37a. 50 mos. b. 13 mos. c. $112. 38. 2-38$309,015. 2-39$36,950. 2-40$9,385. 3-1$1,000,000. 3-2$2,500,000. -3$3,600,000. 3-4$20,000,000. 3-5a, possibly c. 3-6$89,100,000. 3-7a. $50,000. b. $115,000. 3-8NI = $450,000; NCF = $650,000; OCF = $650,000. 3-910,500,000 shares. 3-10a. $2,400,000,000. b. $4,500,000,000. c. $5,400,000,000. d. $1,100,000,000. 3-11$12,681,482. 3-12a. $592 million. b. RE04 = $1,374 million. c. $1,600 million. d. $15 million. e. $620 million. 3-13a. $90,000,000. b. NOWC05 = $192,000,000; NOWC04 = $210,000,000. c. OC04 = $460,000,000; OC05 = $492,000,000. d. FCF = $58,000,000. 3-14a. $2,400,000. b. NI = 0; NCF = $3,000,000. c. NI = $1,350,000; NCF = $2,100,000. 4-1AR = $800,000. 4-2D/A = 58. 33%. 4-3TATO = 5; EM = 1. . 4-4M/B = 4. 2667. 4-5P/E = 12. 0. 4-6ROE = 8%. 4-7$112,500. 4-815. 31%. 4-9$142. 50. 4-10NI/S = 2%; D/A = 40%. 4-112. 9867. 4-12TIE = 2. 25. 4-13TIE = 3. 86. 4-14ROE = 23. 1%. 4-15(ROE = +5. 54%; QR = 1. 2. 4-167. 2%. 4-17a. 4-186. 0. 4-19$262,500. 4-20$405,682. 4-21$50. 4-22A/P = $90,000; Inv = $90,000; FA = $138,000. 4-23a. Current ratio = 1. 98; DSO = 76. 3 days; Total assets turnover = 1. 73; Debt ratio = 61. 9%. 4-24a. TIE = 11; EBITDA coverage = 9. 46; Profit margin = 3. 40%; ROE = 8. 57%. 6-1b. Upward sloping yield curve. c. Inflation expected to increase. d. Borrow long term. 6-22. 25%. 6-36%; 6. 33%. 6-41. 5%. 6-50. %. 6-621. 8%. 6-75. 5%. 6-88. 5%. 6-96. 8%. 6-106. 0 %. 6-111. 55%. 6-120. 35%. 6-131. 775%. 6-14a. r1 in Year 2 = 6%. b. I1 = 2%; I2 = 5%. 6-15r1 in Year 2 = 9%; I2 = 7%. 6-1614%. 6-177. 2%. 6-18a. r1 = 9. 20%; r5 = 7. 20%. 6-19a. 8. 20%. b. 10. 20%. c. r5 = 10. 70%. 7-1$935. 82. 7-2a. 7. 11%. b. 7. 22%. c. $988. 46. 7-3$1,028. 60. 7-4YTM = 6. 62%; YTC = 6. 49%; most likely yield = 6. 49%. 7-5a. VL at 5% = $1,518. 98; VL at 8% = $1,171. 19; VL at 12% = $863. 78. 7-6a. C0 = $1,012. 79; Z0 = $693. 04; C1 = $1,010. 02; Z1 = $759. 57; C2 = $1,006. 98; Z2 = $832. 49; C3 = $1,003. 65; Z3 = $912. 41; C4 = $1,000. 00; Z4 = $1,000. 00. -710-year, 10% coupon = 6. 75%; 10-year zero = 9. 75%; 5-year zero = 4. 76%; 30-year zero = 32. 19%; $100 perpetuity = 14. 29%. 7-815. 03%. 7-9a. YTM at $829 ? 15%. 7-10a. YTM = 9. 69%. b. CY = 8. 875%; CGY = 0. 816%. 7-11a. YTM = 10. 37%; YTC = 10. 15%; YTC. b. 10. 91%. c. -0. 54% (based on YTM); -0. 76% (based on YTC). 7-12a. YTM = 8%; YTC = 6. 1%. 7-13VB = $974. 42; YTM = 8. 64%. 7-1410. 78%. 7-15a. 5 years. b. YTC = 6. 47%. 7-16$987. 87. 7-17$1,067. 95. 7-188. 88%. 7-19a. ABS = 6. 3%; F = 8%. 7-20a. 8. 35%. b. 8. 13%. 8-1[pic] = 11. 40%; ( = 26. 69%; CV = 2. 34. 8-2bp = 1. 12. 8-3r = 10. 9%. 8-4rM = 11%; r = 12. 2%. 8-5a. = 1. b. r = 13%. 8-6a. [pic]Y = 14%. b. (X = 12. 20%. 8-7bp = 0. 7625; rp = 12. 1%. 8-8b = 1. 33. 8-94. 5%. 8-104. 2%. 8-11r = 17. 05%. 8-12rM – rRF = 4. 375%. 8-13a. ri = 15. 5%. b(1). rM = 15%; ri = 16. 5%. c(1). ri = 18. 1%. 8-14bN = 1. 16. 8-157. 2%. 8-16rp = 11. 75%. 8-171. 7275. 8-18a. $0. 5 million. d(2). 15%. 8-19a. CVX = 3. 5; CVY = 2. 0. c. rX = 10. 5%; rY = 12%. d. Stock Y. e. rp = 10. 875%. 8-20a. rA = 11. 30%. c. (A = 20. 8%; (p = 20. 1%. 8-21a. ri = 6% + (5%)bi. b. 15%. c. Indifference rate = 16%. 9-1D1 = $1. 6050; D3 = $1. 8376; D5 = $2. 0259. 9-2[pic] = $6. 25. 9-3[pic] = $21. 20; rs = 11. 30%. 9-4b. $37. 80. c. 34. 09. 9-5$60. 9-6rp = 8. 33%. 9-7a. 13. 33%. b. 10%. c. 8%. d. 5. 71%. 9-8a. $125. b. $83. 33. 9-9a. 10%. b. 10. 38%. 9-10$23. 75. 9 -11$13. 11. 9-12a(1). $9. 50. a(2). $13. 33. a(3). $21. 00. a(4). $44. 00. b(1). Undefined. b(2). -$48. 00, which is nonsense. 9-13a. rC = 8. 6%; rD = 5%. b. No; [pic] = $32. 61. 9-14[pic] = $27. 32. 9-15a. P0 = $32. 14. b. P0 = $37. 50. c. P0 = $50. 00. d. P0 = $78. 28. 9-16P0 = $19. 89. 9-17a. $713. 33 million. b. $527. 89 million. c. $42. 79. 9-186. 25%. 9-19a. $2. 10; $2. 205; $2. 31525. b. PV = $5. 29. c. $24. 72. d. $30. 00. e. $30. 00 9-20a. P0 = $54. 11; D1/P0 = 3. 55%; CGY = 6. 45%. 9-21a. 24,112,308. b. $321,000,000. c. $228,113,612. d. $16. 81. 9-22$35. 00. 9-23a. New price = $44. 26. b. beta = 0. 5107. 9-24a. $2. 01; $2. 31; $2. 66; $3. 06; $3. 52. b. P0 = $39. 43. c. D1/P0 2006 = 5. 10%; CGY2006 = 6. 9%; D1/P0 2011 = 7. 00%; CGY2011 = 5%. 10-1rd(1 – T) = 7. 80%. 10-2rp = 8%. 10-3rs = 13%. 10-4rs = 15%; re = 16. 11%. 10-5Projects A through E should be accepted. 10-6a. rs = 16. 3%. b. rs = 15. 4%. c. rs = 16%. d. rs AVG = 15. 9%. 10-7a. rs = 14. 83%. b. F = 10%. c. re = 15. 81%. 10-8rs = 16. 51%; WACC = 12. 79%. 10-9WACC = 12. 72%. 10-10WACC = 11. 4%. 10-11wd = 20%. 10-12a. rs = 14. 40%. b. WACC = 10. 62%. c.Project A. 10-13re = 17. 26%. 10-1411. 94%. 10-15a. g = 9. 10%. b. Payout = 50. 39%. 10-16a. g = 8%. b. D1 = $2. 81. c. rs = 15. 81%. 10-17a. g = 3%. b. EPS1 = $5. 562. 10-18a. rd = 7%; rp = 10. 20%; rs = 15. 72%. b. WACC = 13. 86%. c. Projects 1 and 2 will be accepted. 10-19a. Projects A, C, E, F, and H should be accepted. b. Projects A, F, and H should be accepted; $12 million. c. Projects A, C, F, and H should be accepted; $15 million. 10-20a. rd(1 – T) = 5. 4%; rs = 14. 6%. b. WACC = 10. 92%. 11-1NPV = $7,486. 68. 11-2IRR = 16%. 11-3MIRR = 13. 89%. 11-44. 34 years. 11-5DPP = 6. 51 years. 11-6a. 5%: NPVA = $3. 52; NPVB = $2. 87. 0%: NPVA = $0. 58; NPVB = $1. 04. 15%: NPVA = -$1. 91; NPVB = -$0. 55. b. IRRA = 11. 10%; IRRB = 13. 18%. c. 5%: Choose A; 10%: Choose B; 15%: Do not choose either one. 11-7a. NPVA = $866. 16; IRRA = 19. 86%; MIRRA = 17. 12%; PaybackA = 3 yrs; Discounted Payback = 4. 17 yrs; NPVB = $1,225. 25; IRRB = 16. 80%; MIRRB = 15. 51%; PaybackB = 3. 21 yrs; Discounted Payback = 4. 58 yrs. 11-8a. Without mitigation: NPV = $12. 10 million; With mitigation: NPV = $5. 70 million. 11-9a. Without mitigation: NPV = $15. 95 million; With mitigation: NPV = -$11. 25 million. 11-10Project A; NPVA = $30. 16. 11-11NPVS = $448. 86; NPVL = $607. 0; Accept Project L. 11-12IRRL = 11. 74%. 11-13MIRRX = 13. 59%. 11-14a. HCC; PV of costs = -$805,009. 87. c. HCC; PV of costs = -$767,607. 75. LCC; PV of costs = -$686,627. 14. 11-15a. IRRA = 20%; IRRB = 16. 7%; Crossover rate ? 16%. 11-16a. NPVA = $14,486,808; NPVB = $11,156,893; IRRA = 15. 03%; IRRB = 22. 26%. b. Crossover rate ? 12%. 11-17a. NPVA = $200. 41; NPVB = $145. 93. b. IRRA = 18. 1%; IRRB = 24. 0%. c. MIRRA = 15. 10%; MIRRB = 17. 03%. f. MIRRA = 18. 05%; MIRRB = 20. 48%. 11-18a. No; PVOld = -$89,910. 08; PVNew = -$94,611. 45. b. $2,470. 80. c. 22. 94%. 11-19b. NPV10% = -$99,174; NPV20% = $500,000. d. 9. 54%; 22. 7%. 11-20$10,239. 20. 11-21MIRR = 10. 93%. 11-22$250. 01. 12-1a. $12,000,000. 12-2a. $2,600,000. 12-3$4,600,000. 12-4b. Accelerated method; $12,781. 64. 12-5E(NPV) = $3,000,000; (NPV = $23. 622 million; CV = 7. 874. 12-6a. -$178,000. b. $52,440; $60,600; $40,200. c. $48,760. d. NPV = -$19,549; Do not purchase. 12-7b. -$126,000. c. $42,518; $47,579; $34,926. d. $50,702. e. NPV = $10,841; Purchase. 12-8a. Expected CFA = $6,750; Expected CFB = $7,650; CVA = 0. 0703. b. NPVA = $10,036; NPVB = $11,624. 12-9NPV5 = $2,211; NPV4 = -$2,081; NPV8 = $13,329. 12-10a. NPV = $37,035. 13. b. +20%: $77,975. 63; -20%: NPV = -$3,905. 37. c.E(NPV) = $34,800. 21; (NPV = $35,967. 84; CV = 1. 03. 13-1a. E(NPV) = -$446,998. 50. b. E(NPV) = $2,806,803. 16. c. $3,253,801. 66. 13-2a. Project B; NPVB = $2,679. 46. b. Project A; NPVA = $3,773. 65. c. Project A; EAAA = $1,190. 48. 13-3NPV190-3 = $20,070; NPV360-6 = $22,256. 13-4A; EAAA = $1,407. 85. 1 3-5Projects A, B, C, and D; Optimal capital budget = $3,900000. 13-6NPVA = $9. 93 million. 13-7Machine B; Extended NPVB = $3. 67 million. 13-8EAAY = $7,433. 12. 13-9Wait; NPV = $2,212,964. 13-10No, NPV3 = $1,307. 29. 13-11a. Accept A, B, C, D, and E; Capital budget = $5,250,000. b. Accept A, B, D, and E; Capital budget = $4,000,000. c.Accept B, C, D, E, F, and G; Capital budget = $6,000,000. 13-12a. NPV = $4. 6795 million. b. No, NPV = $3. 2083 million. c. 0. 13-13a. NPV = -$2,113,481. 31. b. NPV = $1,973,037. 39. c. E(NPV) = -$70,221. 96. d. E(NPV) = $832,947. 27. e. $1,116,071. 43. 14-1QBE = 500,000. 14-230% debt and 70% equity. 14-3a. E(EPSC) = $5. 10. 14-4bU = 1. 0435. 14-5a. ROELL = 14. 6%; ROEHL = 16. 8%. b. ROELL = 16. 5%. 14-6a(1). -$60,000. b. QBE = 14,000. 14-7No leverage: ROE = 10. 5%; ( = 5. 4%; CV = 0. 51; 60% leverage: ROE = 13. 7%; ( = 13. 5%; CV = 0. 99. 14-8rs = 17%. 14-9a. P0 = $25. b. P0 = $25. 81. 14-10a. FCA = $80,000; VA = $4. 80/unit; PA = $8. 0/unit. 14-11a. 10. 96%. b. 1. 25. c. 1. 086957. d. 14. 13%. e. 10. 76%. 14-12a. EPSOld = $2. 04; New: EPSD = $4. 74; EPSS = $3. 27. b. 339,750 units. c. QNew, Debt = 272,250 units. 14-13Debt used: E(EPS) = $5. 78; (EPS = $1. 05; E(TIE) = 3. 49(. Stock used: E(EPS) = $5. 51; (EPS = $0. 85; E(TIE) = 6. 00(. 15-1Payout = 55%. 15-2P0 = $60. 15-3P0 = $40. 15-4D0 = $3. 44. 15-5$3,250,000. 15-6Payout = 31. 39%. 15-7a. $1. 44. b. 3%. c. $1. 20. d. 33? %. 15-8a. 12%. b. 18%. c. 6%; 18%. d. 6%. e. 28,800 new shares; $0. 13 per share. 15-9a(1). $3,960,000. a(2). $4,800,000. a(3). $9,360,000. a(4). Regular = $3,960,000; Extra = $5,400,000. c. 5%. d. 15%. 16-1103. 41 days; 86. 99 days; $400,000; $32,000. 16-273 days; 30 days; $1,178,082. 16-3$1,205,479; 20. 5%; 22. 4%; 10. 47%; bank debt. 16-4a. 83 days. b. $356,250. c. 4. 87(. 16-5a. DSO = 28 days. b. A/R = $70,000. 16-6a. 32 days. b. $288,000. c. $45,000. d(1). 30. d(2). $378,000. 16-7a. 57. 33 days. b(1). 2(. b(2). 12%. c(1). 46. 5 days. c(2). 2. 1262(. c(3 ). 12. 76%. 16-8a. ROET = 11. 75%; ROEM = 10. 80%; ROER = 9. 16%. 16-9b. $420,000. c. $35,000. 16-10a. Oct. loan = $22,800. 17-1AFN = $410,000. 17-2AFN = $610,000. 17-3AFN = $200,000. 17-4a. $133. 50 million. b. 39. 06%. 17-5a. $5,555,555,556. b. 30. 6%. c. $13,600,000. 7-6$67 million; 5. 01. 17-7$156 million. 17-8a. $480,000. b. $18,750. 17-9? S = $68,965. 52. 17-10$34. 338 million; 34. 97 ? 35 days. 17-11$19. 10625 million; 6. 0451. 17-12a. $2,500,000,000. b. 24%. c. $24,000,000. 17-13a. AFN = $128,783. b. 3. 45%. 17-14a. 33%. b. AFN = $2,549. c. ROE = 13. 06%. 18-1a. $5. 00. b. $2. 00. 18-2$27. 00; $37. 00. 18-3a, b, and c. 18-4$1. 82. 18-5rd = 5. 95%; $91,236. 18-6b. Futures = +$4,180,346; Bond = -$2,203,701; Net = $1,976,645. 18-7a. $3. 06; $4. 29. b. 16. 67%, 61. 46%; -100%. c. -16. 67%; -100%; 63. 40%. d. No; $30. 00 and $27. 00. e. Yes; $37. 50 and $37. 50. 19-10. 6667 pound per dollar. 9-227. 2436 yen per shekel. 19-31 yen = $0. 00907. 19-41 euro = $0. 68966 or $1 = 1. 45 e uros. 19-5 |Dollars per 1,000 Units of: | |Pounds |Can. Dollars |Euros |Yen |Pesos |Kronas | |$1,747. 10 |$820. 60 |$1,206. 90 |$8. 97 |$93. 10 |$128. 10 | 19-76. 49351 krones. 19-815 kronas per pound. 19-10rNOM-U. S. = 4. 6%. 19-11117 pesos. 19-12b. $1. 6488. 19-13a. $2,772,003. b. $2,777,585. c. $3,333,333. 19-14+$250,000. 19-15b. $19,865. 19-16$468,837,209. 19-17a. $52. 63; 20%. b. 1. 5785 SF per U. S. $. c. 41. 54 Swiss francs; 16. 92%. 20-155. 6%; 50%. 20-2$196. 6. 20-3CR = 25 shares. 20-4a. D/AJ-H = 50%; D/AM-E = 67%. 20-5a. PV cost of leasing = -$954,639; Lease equipment. 20-6a. EV = -$3; EV = $0; EV = $4; EV = $49. d. 9%; $90. 20-8a. PV cost of owning = -$185,112; PV cost of leasing = -$187,534; Purchase loom. 20-9b. Percent ownership: Original = 80%; Plan 1 = 53%; Plans 2 and 3 = 57%. c. EPS0 = $0. 48; EPS1 = $0. 60; EPS2 = $0. 64; EPS3 = $0. 86. d. D/A0 = 73%; D/A1 = 13%; D/A2 = 13%; D/A3 = 48%. 21-1P0 = $37. 04. 21-2P0 = $43. 48. 21-3$37. 04 to $43. 48. 21-4a. 16. 8%. b. V = $14. 93 million. 21-5NPV = -$6,747. 71; Do not purchase. 21-6a. 14%. b. TV = $1,143. 4; V = $877. 2.

Goal and Phoenix Student

My personal development plan is based on analyzing my personality and identifying my strengths and weakness. Based on the answers from the personality test I have discovered that I am burdened with many barriers to achieving my personal goals. I must learn to understand to overcome any threatening obstacles to my achievements, and to use techniques that will help me overcome any hitches that I could phase. My weakness that I must work on is procrastination, poor time management, and becoming overwhelmed.Some of the goals I have made for myself are to receive a Masters’ Degree in Business Administrations and to overcome my weakness. I believe that my goals are reachable, and that I will reach them using techniques to help me overcome any obstacles that I might face. Setting goals is its crucial part of completing and achieve them, through goal setting that a task can be broken down into smaller manageable parts. When I first started exploring and setting my goals as a Universit y of Phoenix student (UOP), I began to feel overwhelmed and worried about all of the work that is expected from me.I automatically started doubting myself and began constructing obstacles. I believe my personal goals as an UOP student can be achieved by carefully overcoming each of these blockades and barriers that I might face by learning and developing proper techniques to deal with them. My personal development plan is based on analyzing my personality and identifying my strengths and weakness. Based on the answers from the personality test I have discovered that I am burdened with many barriers to achieving my personal goals.I must learn to understand to overcome any threatening obstacles to my achievements, and to use techniques that will help me overcome any hitches that I could phase. My weakness that I must work on is procrastination, poor time management, and becoming overwhelmed. Some of the goals I have made for myself are to receive a Masters’ Degree in Business A dministrations and to overcome my weakness. I believe that my goals are reachable, and that I will reach them using techniques to help me overcome any obstacles that I might face.Setting goals is its crucial part of completing and achieve them, through goal setting that a task can be broken down into smaller manageable parts. When I first started exploring and setting my goals as a University of Phoenix student (UOP), I began to feel overwhelmed and worried about all of the work that is expected from me. I automatically started doubting myself and began constructing obstacles. I believe my personal goals as an UOP student can be achieved by carefully overcoming each of these blockades and barriers that I might face by learning and developing proper techniques to deal with them.My personal development plan is based on analyzing my personality and identifying my strengths and weakness. Based on the answers from the personality test I have discovered that I am burdened with many barrie rs to achieving my personal goals. I must learn to understand to overcome any threatening obstacles to my achievements, and to use techniques that will help me overcome any hitches that I could phase. My weakness that I must work on is procrastination, poor time management, and becoming overwhelmed.Some of the goals I have made for myself are to receive a Masters’ Degree in Business Administrations and to overcome my weakness. I believe that my goals are reachable, and that I will reach them using techniques to help me overcome any obstacles that I might face. Setting goals is its crucial part of completing and achieve them, through goal setting that a task can be broken down into smaller manageable parts. When I first started exploring and setting my goals as a University of Phoenix student (UOP), I began to feel overwhelmed and worried about all of the work that is expected from me.I automatically started doubting myself and began constructing obstacles. I believe my person al goals as an UOP student can be achieved by carefully overcoming each of these blockades and barriers that I might face by learning and developing proper techniques to deal with them. My personal development plan is based on analyzing my personality and identifying my strengths and weakness. Based on the answers from the personality test I have discovered that I am burdened with many barriers to achieving my personal goals.I must learn to understand to overcome any threatening obstacles to my achievements, and to use techniques that will help me overcome any hitches that I could phase. My weakness that I must work on is procrastination, poor time management, and becoming overwhelmed. Some of the goals I have made for myself are to receive a Masters’ Degree in Business Administrations and to overcome my weakness. I believe that my goals are reachable, and that I will reach them using techniques to help me overcome any obstacles that I might face.Setting goals is its crucial part of completing and achieve them, through goal setting that a task can be broken down into smaller manageable parts. When I first started exploring and setting my goals as a University of Phoenix student (UOP), I began to feel overwhelmed and worried about all of the work that is expected from me. I automatically started doubting myself and began constructing obstacles. I believe my personal goals as an UOP student can be achieved by carefully overcoming each of these blockades and barriers that I might face by learning and developing proper techniques to deal with them. Goal and Phoenix Student My personal development plan is based on analyzing my personality and identifying my strengths and weakness. Based on the answers from the personality test I have discovered that I am burdened with many barriers to achieving my personal goals. I must learn to understand to overcome any threatening obstacles to my achievements, and to use techniques that will help me overcome any hitches that I could phase. My weakness that I must work on is procrastination, poor time management, and becoming overwhelmed.Some of the goals I have made for myself are to receive a Masters’ Degree in Business Administrations and to overcome my weakness. I believe that my goals are reachable, and that I will reach them using techniques to help me overcome any obstacles that I might face. Setting goals is its crucial part of completing and achieve them, through goal setting that a task can be broken down into smaller manageable parts. When I first started exploring and setting my goals as a Universit y of Phoenix student (UOP), I began to feel overwhelmed and worried about all of the work that is expected from me.I automatically started doubting myself and began constructing obstacles. I believe my personal goals as an UOP student can be achieved by carefully overcoming each of these blockades and barriers that I might face by learning and developing proper techniques to deal with them. My personal development plan is based on analyzing my personality and identifying my strengths and weakness. Based on the answers from the personality test I have discovered that I am burdened with many barriers to achieving my personal goals.I must learn to understand to overcome any threatening obstacles to my achievements, and to use techniques that will help me overcome any hitches that I could phase. My weakness that I must work on is procrastination, poor time management, and becoming overwhelmed. Some of the goals I have made for myself are to receive a Masters’ Degree in Business A dministrations and to overcome my weakness. I believe that my goals are reachable, and that I will reach them using techniques to help me overcome any obstacles that I might face.Setting goals is its crucial part of completing and achieve them, through goal setting that a task can be broken down into smaller manageable parts. When I first started exploring and setting my goals as a University of Phoenix student (UOP), I began to feel overwhelmed and worried about all of the work that is expected from me. I automatically started doubting myself and began constructing obstacles. I believe my personal goals as an UOP student can be achieved by carefully overcoming each of these blockades and barriers that I might face by learning and developing proper techniques to deal with them.My personal development plan is based on analyzing my personality and identifying my strengths and weakness. Based on the answers from the personality test I have discovered that I am burdened with many barrie rs to achieving my personal goals. I must learn to understand to overcome any threatening obstacles to my achievements, and to use techniques that will help me overcome any hitches that I could phase. My weakness that I must work on is procrastination, poor time management, and becoming overwhelmed.Some of the goals I have made for myself are to receive a Masters’ Degree in Business Administrations and to overcome my weakness. I believe that my goals are reachable, and that I will reach them using techniques to help me overcome any obstacles that I might face. Setting goals is its crucial part of completing and achieve them, through goal setting that a task can be broken down into smaller manageable parts. When I first started exploring and setting my goals as a University of Phoenix student (UOP), I began to feel overwhelmed and worried about all of the work that is expected from me.I automatically started doubting myself and began constructing obstacles. I believe my person al goals as an UOP student can be achieved by carefully overcoming each of these blockades and barriers that I might face by learning and developing proper techniques to deal with them. My personal development plan is based on analyzing my personality and identifying my strengths and weakness. Based on the answers from the personality test I have discovered that I am burdened with many barriers to achieving my personal goals.I must learn to understand to overcome any threatening obstacles to my achievements, and to use techniques that will help me overcome any hitches that I could phase. My weakness that I must work on is procrastination, poor time management, and becoming overwhelmed. Some of the goals I have made for myself are to receive a Masters’ Degree in Business Administrations and to overcome my weakness. I believe that my goals are reachable, and that I will reach them using techniques to help me overcome any obstacles that I might face.Setting goals is its crucial part of completing and achieve them, through goal setting that a task can be broken down into smaller manageable parts. When I first started exploring and setting my goals as a University of Phoenix student (UOP), I began to feel overwhelmed and worried about all of the work that is expected from me. I automatically started doubting myself and began constructing obstacles. I believe my personal goals as an UOP student can be achieved by carefully overcoming each of these blockades and barriers that I might face by learning and developing proper techniques to deal with them.

Managerial Finance Essay Example | Topics and Well Written Essays - 4750 words

Managerial Finance - Essay Example This has led to a fall in the prices of products sold by Titanic Plc. Consequently, due to a fall in volumetric sales and price of beer; Titanic Plc’s sales have plunged by 30%. The above table shows that the margins of the company have also eroded due to fall in selling prices but no subsequent reduction in the costs. The gross margin fell from 46.4% in 2010 to 39.4% in 2012, which can be attributed to the fall in selling prices due to increase in competition in the industry. The operating profit margin and net margin fell drastically as the company could not control its distribution and administration expenses in the period of falling sales revenue. The directors of the company feel that the company is experiencing financial distress. A company is in a financial distress when it faces liquidity issues and has difficulties in paying off its obligations when they are due. Financial distress increases when a company’s revenues move with the economy. Such cyclical companies are prone to fall in profitability due to an economic downturn. The above table shows the liquidity ratios of the company. Company’s liquidity has improved from 2010 to 2012 as shown by an increase in the current ratio as well as the quick ratio of the company. Although the cash of the company fell from  £10.6M from 2010 to  £9.8M in 2012, the decrease was offset by an increase in inventory and receivables of the company. However, the current liabilities of the company fell drastically by 46% from  £19.9M in 2010 to  £10.8M in 2012 owing to lower trade payables and dividend payable. The ratios indicate that the company’s liquidity position is adequate. The above table shows the asset efficiency ratios for Titanic Plc. Days in inventory has increased substantially from 89 days in 2010 to 122 days in 2012 indicating that the company’s inventory is piling up. This piling up of inventory is due to the fall in sales of the company. Titanic Plc has to take steps to

1894 Cripple Creek strike Essay Example | Topics and Well Written Essays - 500 words

1894 Cripple Creek strike - Essay Example America was in the throes of an economic depression. Banking institutions, businesses and factories closed, and â€Å"as a result, millions of laborers were idle† (Rastall, 9). The country was rocked by strikes in various parts. The situation was exacerbated at Cripple Creek by the closing of Colorado’s silver mines. Workers, desperate for jobs, came to Cripple Creek, creating a labor surplus. The mines had no uniform working-hours, with some having a ten-hour day and others an eight-hour day. â€Å"The wage at all the mines was uniformly three dollars per day, irrespective of the length of the shift† (Rastall, 19). Citing the economic condition, the owner attempted to increase the working day from eight hours to nine and 10, with no increase in pay. The alternative offered was that Workers could keep the eight-hour day, but for a reduction of 50 cents in their daily pay. The dissenting miners formed the Free Coinage Union No. 19, which was part of the militant W estern Federation of Miners (WFM). The battle lines for the conflict were drawn. Attempts at compromise failed and, on February 7, 1894, all mines with eight and ten hour days were closed. The miners went on strike, and set up roving picket lines. In a show of solidarity, the miners who were still working in the eight-hour mines contributed 10 percent of their wages to support the strikers. A relief fund was organized and soup kitchens were set up. John Calderwood was elected President of the Union. The owners attempted in vain to open the mines. When the County Sheriff, Frank Bowers, sent a team of six deputies to defend a mine, they were captured by the local marshals â€Å"special police,† who were on the side of the strikers, but were later freed. Several miners were arrested and subsequently freed. A second crisis developed when the ranks of the hitherto law-abiding union were swelled by large numbers of rough elements. Order deteriorated with the

External Enviroment Research Paper Example | Topics and Well Written Essays - 1000 words

External Enviroment - Research Paper Example This paper seeks to explain how big companies can affect the government role as an external environment. The government stipulates policies on how and when companies should remit their taxes. Big companies are key contributors to tax collection and when they remit the tax as per the regulation, the government is able to finance other expenses (Claire 13). This enhances government performance. Big companies are likely to have outlets all over wide region of the sphere and still a wide range of products. The explanation of this is that the company will have a lot of product transportation from one region to another or even to its scattered customers. Consequently, roads will wear out more often than not hence that government has to keep on replacing the worn out roads. Although this keeps the government on its toes to in making sure that roads are in good state, this affects the government budget negatively as it has to look for finances and may lead to borrowing (Hardgrave 15). A big company like coca cola uses big and heavy commercial trailers to transport product to its outlets, such trailers speed up the wear and tear of a road. Big organizations are powerful in government during policy formulation and adherence. They have a lot of information from the market which they can use to assist government on decisions. Such advice help the government n make informed decisions (Hardgrave 32). Big companies are likely to carry out activities in more than one country. This shows that it has a big volume of resources and can execute government regulations on product control with ease. For example, if the government passes a bill stipulating that the company should use anew packaging, it becomes easier for bigger companies to pull resources together and act accordingly. Contrarily, big companies can pull its wide range of resources to challenge legally some of

Intergovernmental Panel on Climate Change Essay

Intergovernmental Panel on Climate Change - Essay Example Professor Timothy Francis Ball is one of the most prominent names amongst the people that are against the theory of occurrence of global warming. Initially Dr. Timothy used to completely disagree with the concept of current occurrence of global warming, but as the results got more accurate and more funds were allotted to research on the intensity of warming, the professor stated that he never questioned the occurrence of global warming, but only the reasons for such climatic changes, which he firmly believes are not human-induced (Ottawa Citizen). Later on, the professor changed his stance once more and argued that the climate is cooling down since the 40s’ as satellite imaging shows cooling in certain areas. (Ball)   Dr. Timothy’s philosophies were hyped after he received several death threats on his e-mail account after he appeared in a documentary film which tried to convey that global warming is a hoax (Ingraham 280); but the e-mail threat is quite dubious as the professor never reported it to authorities and only claimed that he had received such threats; which gives rise to a speculation that this was possibly a strategy to increase the sales of the movie.   Dr. Robert Carter, another prominent geologist, states that figures of IPCC show no increase in â€Å"human-induced† warming since the late 90s’ and rejects the warnings issued by the IPCC in the matter. The claim by the doctor is highly dubious as the results do indeed show a steady increase in the rising in carbon emissions, and hence the correlation amongst carbon emissions and warming could not be rejected. (Carter)   

The Future Success of Sony Essay Example | Topics and Well Written Essays - 750 words - 5

The Future Success of Sony - Essay Example One of the main market segments, where Sony is still the market leader, is the gaming market. But competitors are soon catching up and it needs to innovate and make its But competitors are soon catching up and it needs to innovate and make its PlayStation better as competitors. Microsoft and Nintendo have already released their next generation consoles and it is high time that Sony releases its and makes the experience far better than the previous ones. The portable music player is another segment that the company has lost its market share, mainly to competitor Apple. In order to regain its market share, it has to come up with a new and innovative product that is more than just a music player. Instead of competing directly with iPod, Sony must try coming up with a product that is going to shake up the segment, like it has done with Walkman years ago or for matter for of fact Apple has done with iPod. It needs to reinvent itself in the television market as dominance in this market will result in an increase in demand for other products also. As it failed to identify the potential in the LCD market, it is now trying to play catch up. Instead, it must try coming up with next-generation televisions which is better than the LCDs. There are other segments to where the company needs to implement product innovation if it has to justice to the brand name it has achieved and replicate the success of the past. One of the major strengths of Sony us that it is considered to be a premium brand by consumers as it has gained the reputation of producing high quality, technically superior, innovative and reliable products. Hence, products coming out of it are generally considered by the consumers to be among the best. Like Apple, it is also a lifestyle brand which means that consumers take pride in owning Sony products. This is a great platform for the company to market and sell its products. The main weakness of the company is the brand image that it has acquired in the recent past. It is now seen as the shadow of its past successes. It has been criticised for not tapping new opportunities and failing to innovate. The company was once a market leader/innovator but now has become a follower. Its overall financial performance has not been encouraging to shareholders.

Representation of New Zealand masculinity in beer advertising Essay

Representation of New Zealand masculinity in beer advertising - Essay Example This "Representation of New Zealand masculinity in beer advertising" essay outlines the connection between traditional New Zealand's sports games, masculinity and how media used this in a beer commercial. During peace times rugby was one of the sporting events in which the Kiwis took pride. Rugby gave a feeling of masculinity and enhanced manhood to the Kiwis in the early years. When Edmund Hillary along with tensing reached the world’s highest peak, it was taken as an expression of New Zealand’s Anglo-Saxon manhood. He depicted colonial honesty. This Kiwi hero had a warm and caring heart who dedicated his life to the concern and welfare of the people of the Himalayas. Peter Snell, a gold medalist at the Rome Olympics, became the personification of Kiwi manhood. He too had immense muscular strength and was extremely modest. These were connected with masculinity but along with these, the culture of beer and alcohol added to the image of manhood. The New Zealand man had an image of being strong, resilient, and modest. He could hold his own drink, yarn with his mates, and eventually settle down as a family man. Hence, beer, alcohol, muscles, murder, adventurous activities, was all associated with masculinity. What added to the image was that after all this, such a man was even a successful family man. These ‘good keen men’ of Barry Crump won secret admiration from the male counterparts. As family bond strengthened in New Zealand, men started identifying themselves with the traditional heroes and the male culture.

Modern day America Essay Example | Topics and Well Written Essays - 1750 words

Modern day America - Essay Example Therefore, the culture of any community in any part of the world is superior regarding the operations of people. It should be understood that there is no culture that is superior to the other; all cultures are superior in their different ways. Culture in all of its forms concerns itself with religion, food, and even on what to wear and the way of wearing it. Furthermore, different people from different origins have a language of communication that forms part of its culture. Marriage and music including the way people greet visitors are also some of the dimensions of culture. Therefore, culture is everything common and acceptable to a group of people. It is, therefore, the intention of this paper to provide a detailed discussion of the similarities and differences of cultures at the colonies to that of modern day America. In addition, the paper seeks to provide a brief description of John Adams movie. The culture of certain communities within the colonies and that of the modern day America remain different in a number of ways. The difference is, more so, regarding the so many communities living in these places. In addition, food and clothing of the different groups bring to the forefront the diversity of cultures even in areas that people may look at and think they are minute. The United States of America has a diverse culture of its people because of the large population of more than three hundred and twenty million people. In addition, the Native Americans, Latin Americans and the Africans and the Asians influenced the culture of United States because of migrations. To a larger extent, the United States is called the melting point because of the meeting of so many different cultures that meet and stand influencing other cultures. For instance, it is because of the diversity of cultures in America that the word â€Å"western culture† often refers to cultures in the United States and Europe. On the other hand, the culture of the communities in the

Charles Darwin and the Theory of Evolution Essay Example for Free

Charles Darwin and the Theory of Evolution Essay In the 1850s, Charles Darwin proposed his theory of evolution. His theory proposed that species evolved gradually through subtle changes from one generation to the next by means of natural selection. By natural selection, the most desirable hereditary traits become more common from one generation to the next while the less desirable, weaker traits die out. This gives rise to an organism that is more capable—fitted to—of surviving in the surrounding environment. At the time Darwin formulated his idea beginning with his trip on the HMS Beagle in the 1830s, some scientists resorted to the idea that God had preordained life by natural laws rather than by miraculous feats. While logical and correct, the idea still refers to a divine power, indicating a religious bent, so perhaps it was obvious that the ideas addressed could lead to religious controversy. As is common in science, Darwin’s concept arose from ideas garnered from a number of scientists of his time. Some researchers of the time believed that natural laws were responsible for life. While Darwin’s ideas did not account for the processes believed to account for life at the time, there was a theory at the time thought to account for life. Most thought that species were transmuted from one species into another. The problem with transmutation, an idea that is similar to evolution in some respects, is that a species may change through transmutation, but it will still be the same species. A dog may change into a different type of dog, but it will still be a dog; likewise, for a cat or any other species. Evolution dictates that the entire animal kingdom can grow through stages from one species into another over time. Birds came from reptiles, mammals came from birds and humans came from non-humans. (Lewontin, 1981) The data is unequivocal. During his voyage on HMS Beagle, Darwin found fossil remains of gigantic mammals that were recently extinct with no indication that their extinction had been caused by climate changes or catastrophic events. Although he believed that the remains he found were related to species in Africa or Europe, examination of the remains Darwin found showed that they were only related to other species found only in the Americas. Creationists insist that life came about from God in six days. While most evolutionists attack creationism on the grounds of scientific facts, there is another line of evidence virtually unnoticed by those who support evolution theory. Historians and archeologists have learned that the biblical story of creation came from the myths of another culture. Stories presented in the Bible evolved slowly over time, long before religions existed, and incorporated tales from many cultures. The story of the Garden of Eden, the serpent and the Tree of Life, for example, are said to have been depicted on an Akkadian Cylinder Seal nearly 2500 years before Christ. The serpent itself was viewed as a deity. Notice: No one familiar with the mythologies of the primitive, ancient, and Oriental worlds can turn to the Bible without recognizing counterparts on every page, transformed, however, to render an argument contrary to the older faiths. In Eves scene at the tree, for example, nothing is said to indicate that the serpent who appeared and spoke to her was a deity in his own right, who had been revered in the Levant for at least seven thousand years before the composition of the Book of Genesis. There is in the Louvre a carved green steatite vase, inscribed c. 025 BC by King Gudaea of Lagash, dedicated to a late Sumerian manifestation of this consort of the goddess, under his title Ningizzida, Lord of the Tree of Truth. p. 9. The Serpents Bride. Joseph Campbell. Occidental Mythology, The Masks of God. Arkana. New York. Viking Penguin Books. 1964, 1991 reprint The information in the Old Testament dates from about 1450 BC until 200 BC. This means that, contrary to the strongly held beliefs of most Christians, the creation story of Genesis is actually derived from the myths of ancient Sumerians. Therefore, the story is a myth. This means that those who against Darwin’s ideas on religious grounds based on their beliefs in the accuracy of the story in Genesis have unknowingly chosen to accept myth over facts. While they believe the myth to be factual, archeological evidence demonstrates otherwise. The scientific evidence leans heavily in support of Darwin’s ideas. While we may not fully understand some aspects behind the mechanism of evolution, we are continuously learning more about those mechanisms. (Dobzhansky, 1973) Dobzhansky states: Let me try to make crystal clear what is established beyond reasonable doubt, and what needs further study, about evolution. Evolution as a process that has always gone on in the history of the earth can be doubted only by those who are ignorant of the evidence or are resistant to evidence, owing to emotional blocks or to plain bigotry. By contrast, the mechanisms that bring evolution about certainly need study and clarification. There are no alternatives to evolution as history that can withstand critical examination. Yet we are constantly learning new and important facts about evolutionary mechanisms. Theodosius Dobzhansky, â€Å"Nothing in Biology Makes Sense Except in Light of Evolution†, American Biology Teacher vol. 35 (March 1973) reprinted in Evolution versus Creationism, J. Peter Zetterberg ed. , ORYX Press, Phoenix AZ 1983. Darwin (1859) believed that whales evolved from bears based on a scenario where selective pressures might cause this evolution, but he was criticized for this idea and removed the suggestion. Gould, 1995) Today, there is much more fossil evidence for the evolution of many species thus supporting the idea of evolution as a general biological principle, including the evolution of whales from lower animals. Evidence in support of evolution exists at many levels. There is paleontological evidence based on fossils, morphological evidence that relate the body morphology of higher animals to lower animals, evidence from molecular biology and from embryology. Added to this, the chronological picture that results is consistent with other lines of evidence. For example, the evidence for the evolution of whales from lower animals is convincing. Whales have been closely studied with respect to evolution. If evolution is valid, transitional stages from one level of evolution to another should exist. Although the fossil remains of whales spotty for a long time, recent fossil discoveries have more than adequately lent support to the concept of evolution for whales. Researchers state that independent lines of evidence from different disciplines confirm the pattern of evolution in whales. John Ray recognized that whales were mammals rather than fish in 1693 based on their similarity to terrestrial mammals. (Barnes, 1984) In 1883, Flower (see Barnes, 1984) found that whales had vestigial characteristics in common with terrestrial mammals just as humans have vestigial tails, the coccyx. Findings similar to these led to the concept of ‘ontogeny recapitulates phylogeny. ’ This concept is briefly explained in further detail below. Flower (1883) recognized that the whales have persistent rudimentary and vestigial features characteristic of terrestrial mammals, thus confirming that the direction of descent was from terrestrial to marine species. On the basis of morphology, Flower also linked whales with the ungulates; he seems to have been the first person to do so. Today, we know that whales have vestigial features in common with lower animals. For example, they have vestigial olfactory nerve, protruding hind limbs, pelvic fins and diaphragms. Like humans, during embryological development, whales develop features similar to lower animals and abandon them as development progresses. During their development, there is also evidence that whales have terrestrial ancestors. Some whales even develop hair while in the womb although they do not retain it. In 1985, Goodman et al. demonstrated that whales are more closely related to ungulates than to other animals. (Goodman, 1985; Miyamoto and Goodman, 1986) Some studies have identified genes, enzymes and other proteins that connect whales to extinct animals. (Irwin et al. 991; Irwin and Arnason, 1994; Milinkovitch, 1992; Graur and Higgins, 1994; Gatesy et al, 1996; Shimamura et al. , 1997) We have already noted above that the creation story in the Bible was taken from the text of an ancient culture that predates the Hebrew account. Rather than to openly acknowledge that the Bible’s story of creation is a mythical legend that explains evolution and the appearance of life on ea rth, some religious groups resort to far-fetched, fictitious, generally ridiculous concepts such as ‘creationism’, ‘creation science’ and ‘intelligent design’ to dismiss or explain away the science and replace it with fantasy. Embryology and developmental biology have a concept, ‘ontogeny recapitulates phylogeny’, that simplifies and briefly but succinctly expresses the concepts presented in the first chapter of Genesis. This is like explaining a complicated scientific concept, take conception and birth for example, to a little child by using a fairy tale rather than detailed research information. The fairy tale is not accurate, but the general information it communicates is true. With this single phrase, the first chapter of Genesis is summarized and explained. The phrase means that the embryological processes of development, ontogeny, depict and encapsulate the evolutionary history of the species, phylogeny. For example, during development of the human embryo, the fetus briefly has gills and a tail like its phylogenetic ancestors. In other words, during development, the developing embryo goes through some of the same stages that humans went through as the species developed from lower animals to humans. The concept makes perfect sense and explains many aspects of human development. Obviously, we cannot provide a comprehensive review of the evidence support evolution in a few pages, and we certainly cannot provide realistic evidence against it in light of all that exists to support it. While the evidence in support of the evolution of whales is plentiful, much evidence exists for evolution in general, including in humans. As has been reported here, the evidence is not just from scientific research, but also from archeology and history. That evidence shows, among other things, that the biblical story of creation in Genesis predates the Bible by hundreds of years. Despite all the evidence in support of evolution and against the idea of the biblical creation as being anything more than a myth, we can be certain that the argument in support of the biblical creation as being the real story and representing the real facts will not go away. Humans being what we are, we will always be faced with living with the Genesis myth as if it were fact, and coping with those who insist that the earth all the universe was created in six literal days. That concept certainly will never go away no matter what facts exist to disprove it.

The United Nations Global Compact platform Essay Example for Free

The United Nations Global Compact platform Essay The United Nations Global Compact platform has ten principles of which three are environmental principles. This submission describes lessons learnt from businesses practices by Honda Motors, Hitachi, and Mitsubishi companies that can be used to achieve compliance of two of the environmental principles. The two principles are (a) promoting greater environmental responsibility, which the eighth principle and (b) development and diffusion of environmentally friendly technologies, which is the ninth principle (UN Global Compact and Duke University, 2010; 11). Promoting Greater Environmental Responsibility This principle intends to help companies to adhere to a more environmental consciousness. Despite Honda not being a member of the of the United Nations Global Compact initiative, it has established different platforms within the company to ensure that it is promoting greater environmental responsibility. It does this through its Honda’s Global Compact Platform and Earth Dreams Technology (Honda, 2014a). The company has established environmental e-learning campaigns aimed at educating the public about different ways of preserving the environment. Likewise, Hitachi has established environmental management strategies and initiatives that are aimed at improving its environmental impact. In addition, the company is involved in ecosystem preservation initiatives aimed at educating the public about the different ways of preserving the environment. It also encourages customers to buy products that are manufactured using eco-friendly procedures. An analysis of Mitsubishi Company reveals that the company promotes greater environmental responsibility by investing in eco-friendly designs and processes. In addition, just like Honda and Hitachi, it offers information about preservation of the environment to the public (Mitsubishi 2014). Development and Diffusion of Environmentally Friendly Technologies Honda Motors Ltd is at the forefront in developing new technologies that seek to ensure environmental preservation. It has development motor vehicle engines that consume less fuel through its hybrid technology. Further, the company has produced such cars as Honda Jazz which is efficient and environmental friendly. The company has also produced hybrid engines that use electricity as well as gasoline hence reducing gasoline consumption (Honda, 2014a). Hitachi is also developing efficient engines and cars. However in addition to such efforts, the company as a UN Global Compact member ensures that environmentally friendly policies are kept within the company. It has numerous products that are environmentally friendly and it ensures that where it cannot reduce environmental pollution, it does so through other corporate social responsibility events such as planting trees and providing clean water to society. Mitsubishi ensures the development and diffusion of environmentally friendly technologies through the manufacture of such products that preserve the environment. Further, it is involved in construction of more efficient aero engines as a way of reducing pollution to the environment caused by aeroplanes. Positive Lessons Learnt From Businesses Practices Honda uses the Global Compact Platform despite its non-member status in the UN Global Compact initiatives. This shows that any company, regardless, of its membership in the UN Global Compact can participate and ensure the adoption of Global Compact principles. Honda’s success in motor vehicle industry shows that it is possible for a company to be profitable through the use of environmentally friendly strategies in manufacturing and distribution of products. In addition, Honda markets its Honda Jazz series as the best environmentally friendly SUV cars in the market. Mitsubishi and Hitachi also use the UN Global Compact strategies to ensure that all its products and company processes adhere to the principles. Unlike Honda, these companies do not use platforms such as â€Å"Global Compact Platform† used by Honda. Negative Lessons Learnt From Businesses Practices Mitsubishi and Hitachi as members of United Nations Global Compact ensure that they embed, balance, diffuse, and translate the two environmental stewardship principles in their company. The companies have ensured that they provide communication of their procedures and new technologies to the public and Global compact platform as a commitment to the two principles. Unlike Honda, these two companies are accountable to an outside entity. Another lesson from Mitsubishi and Hitachi is that they have worked and invested in developing decision-making strategies that enforce the two principles. Through their development of energy efficient products and services and the commitment to events and CSR programs that are aimed at educating the public about eco-friendly practices, the two companies are able to enhance environmental responsibility and development and diffusion of environmentally friendly technologies. Further, Mitsubishi can track their success through the laid out procedure in the environmental stewardship strategy developed by UN Global Compact and Duke University (2010). The strategy ensures that there is accountability and it is result oriented unlike Honda which is not accountable to the UN Global Compact. Business Practice Recommendations Since companies joining the UNGC platform wish to benefit from their association and compliance with the principles, it is important that such benefits are protected. In order to encourage compliance, it must be made difficult and expensive to get accreditations of eco-friendliness from other institutions. As such, the UNGC should liaise with other institutions to ensure compliance of the two principles. The companies seeking such recognition must show investments and commitment to environmental friendly procedure and processes. This will prevent companies from seeking recognitions from institutions with lesser strict requirements hence allowing companies that have genuinely investment and committed to environment to be recognized and benefit from such recognition. The following can be done to ensure that business practices conform to the two principles Principle 8: Promoting Greater Environmental Responsibility To enhance compliance with the eighth UN Global Compact principle, it is important for the companies to ensure that they have decision-making strategies that ensure compliance. This helps in assessing the level of compliance within a company. By having membership in the UN Global Compact, companies can remain committed to the principle unlike those that try to enhance compliance without being members of the Global Compact. This ensures accountability as well as encouraging self-assessment. Principle 9: Development and Diffusion of Environmentally Friendly Technologies Companies that comply with the ninth principle should ensure that throughout their supply chain, manufacturing and distribution processes, environmentally friendly technologies are used. This can be ensured by following the environmental stewardship strategies proposed by UN Global Compact and Duke University (2010). Secondly, compliance can be enhanced through benefits such as publicity for technology that is eco-friendly. The UN Global Compact should establish and award that recognizes efforts done by companies. Challenges and Implications to Shareholders The UN Global Compact fraternity will be required to limit the use of phrases such as Global Compact, which may be a difficult process. Further, the UN Global Compact will be required to partner with numerous institutions that give accreditations. The companies involved will also be affected. For instances, companies will now be required to show their commitment to UNGC before getting accreditation from other institutions. Thirdly, customers and the public may find it hard to get information about eco-friendly companies and technologies if UN Global Compact does not provide information of legitimate technologies. References UN Global Compact and Duke University, (2010). Environmental Stewardship Strategy: Overview and Resource for Corporate Leaders. Retrieved from https://www.unglobalcompact.org/docs/issues_doc/Environment/Environmental_Stewardship_Strategy.pdfHonda, (2014a). News Releases 2014: Paris Motor Show 2014. Retrieved from http://world.honda.com/news/2014/4141002Paris-Motor-Show/Honda, (2014b). Key Indicators of Honda’s Environmental Performance. Retrieved from http://world.honda.com/environment/report/act_val/indicator/Hitachi, (2014a). Sustainability report 2014: Environmental Report. Retrieved from http://www.hitachi.com/environment/activities/index.html Hitachi, (2014b). Hitachi Recognized as World Leader for Corporate Action on Climate Change. Retrieved from http://www.hitachi.com/environment/newsr/2014/1028.htmlMitsubishi (2014). Progress Towards Sustainable Society. Retrieved from http://www.mhi-global.com/company/csr/policy/releaseandrecognition/sustainable-society.html Source document

The Saint Juan Diego History Essay

The Saint Juan Diego History Essay Juan Diego was born in 1474 A.D. in Cuauhtitlan. Not much is known about Juan Diegos early life up until he was baptized. When Juan Diego was fifty he was baptized by a Franciscan missionary named Fr. Peter da Gand (The Holy See). He was baptized along with his wife Maria Lucia, and his uncle Juan Bernardino. Juan Diego grew up under the subjection of the Aztecs who practiced human sacrifice. These people were sacrificed by cutting out the hearts of the victims. The victims were usually adult men, but also children. The Aztecs had control over 371 towns and the law requested 1,000 human sacrifices for each town, so over 50,000 human beings were sacrificed each year. When Juan Diego was just 13 years old, he witnessed one of the most appalling events in Aztec history. The 89-year-old ruler of the Aztecs dedicated a new temple to the gods of hell and darkness, Huitzilopochtli and Tezcatlipoca. Over 80,000 people were sacrificed in just four days and four nights. After this event human sacrifices were declared illegal in 1520 by Hernando Cortes. That is when the sacrament of the Eucharist was introduced (Saunders). Juan Diego passed Tepeyac Hill one morning and he heard music and saw a luminous cloud circled by a rainbow. A ladys voice called him up to the top of the hill. This is where he saw a beautiful young woman dressed like a princess of the Aztecs. She said she was the Virgin Mary and asked Juan Diego to ask the bishop to build a church on the site. She said, I vividly desire that a church be built on this site, so that in it I can be present and give my love, compassion, help, and defense, for I am your most devoted mother . . . to hear your laments and to remedy all your miseries, pains, and sufferings (Catholic Online). The bishop was kind but unsure. He asked Juan Diego to offer proof of the womans identity. Before Juan could return to the lady, he found out his uncle was dying. Hurrying to get a priest to cure his uncle, Juan Diego missed his meeting with the lady. The lady met him on his journey and told him his uncle was cured. She told Juan to climb to the top of the hill where t hey were first acquainted. Juan was surprised to find flowers growing in the frozen ground. He gathered them in his cloak and took them immediately to the bishop. Juan told the bishop what had happened and opened his cloak. The flowers that fell to the ground out of Juan Diegos robe were called Castilian roses (which did not grow in Mexico). But the bishops eyes were set on the image of the Lady imprinted inside Juan Diegos robe. Soon thereafter, a church was built on the site where our Lady appeared, and thousands converted to Christianity. Our Lady of Guadalupe was declared the patroness of the Americas (Catholic Online). Juan Diego had converted over to Christianity only six years before the miracle of Our Lady of Guadalupe. Our Lady appeared to him four times and to his uncle once (Slaves of the Immaculate Heart of Mary). After only eight years, over 9,000,000 Mexicans converted over to Christianity (Brother Ernest). Juan Diego lived out the rest of his life as a hermit near the shrine where his tilma had been put on display for admiration. There he cared for the church and those who came to pray there (The Holy See). Juan Diego died at the age of 74 on May 30, 1548 (Catholic Online). Juan Diegos feast day is December 9th, and Our Lady of Guadalupes feast day is December 12th (Saunders). Juan Diego was beatified on May 6th in 1990 by Pope John Paul II (The Holy See). Juan Diego was canonized on July 31st, 2002 by Pope John Paul II (Catholic Online). Pope Pius X made Our Lady patroness of Latin America in 1910. Copies of Juan Diegos tilma with the image in it have been made and sent all over the world (Brother Ernest) Saint Juan Diego can be attributed with the miracle of Our Lady Of Guadalupe. He was visited by the lady and asked to build a church there. When the priest asked for proof Juan Diego gathered flowers from the frozen ground that were not native there and brought them in his cloak. When Juan Diego arrived and let the flowers fall out of his robe , there was an image of Our Lady of Guadalupe (Catholic Online). I admire Saint Juan Diegos faithfulness. Juan Diego did not have to ask proof from the Lady, but instead he went straight to the priest and asked him to build a church there. I also admire how Juan Diego missed his meeting with the Lady so that he could help his dying uncle (Catholic Online). I chose Juan Diego because he was canonized by Pope John Paul II and he is my favorite pope. He is my favorite pope because he went through many struggles in his lifetime. When his homeland was under the control of Nazis, he did his studies in secret even though he knew he would get caught (Egan 12.). Pope John Paul IIs father died in February of 1941. His faith and God helped him to never stop (Pope John Paul II). There was an attempt to assassinate Pope John Paul II, and after he was released from the hospital he went to forgive the man who tried to kill him (The Fateful Day). I also chose Saint Juan Diego because I am fascinate d by the miracle of Our Lady of Guadalupe and the image of Our Lady appearing in Juan Diegos tilma in such accuracy and in such great detail (Catholic Online).

Accounting Theory Essay -- essays research papers

Accounting is in the current state of being an art. It is referred to as a social science, but the question that still remains in view today is should accounting be an art or should it actually be a science? Although the move to scientific based accounting would be desirable in today’s society it is not possible. When you consider the facts of this issue in a true debate style, the scientific based approach does not work and cannot do today what the current system does for its users. Accountants provide information that is reliable, verifiable and precise. As well it is crucial those accountants are considered trustworthy and that the information can be confirmed by another source. Without this there is no future of accounting and there would have never been a past. Accounting is left open to interpretation to those who need to view the information. Many different people look at accounting information, many different cultures, organizations and ethnic groups use this information for different reasons. To make accounting scientific based makes it one set or rules, a set of laws to follow by. If you held a gun to a scientist and said make the speed of light faster he could not change the speed of light, because it is a scientific based law. One set of properties defines that law. In accounting we need different information for different situations. Internal departments require different information then external and as such their needs to be different rules and gui delines. ...

Using The Mythology of Love to Analyze Amy Foster Essay -- Amy Foster

Using The Mythology of Love to Analyze Amy Foster In Amy Foster, Joseph Conrad has written a great story that shows the different types of love felt between Amy and Yanko as described by Joseph Campbell in his essay on The Mythology of Love. The relationship of Yanko and Amy is dynamic and changes as the story progresses. At first, Amy feels compassion for Yanko; she does not see the differences between him and the English people as the others of Brenzett do. However, later in the story, compassion turns to passion. Amy's son is then born; distinctions appear and she is either no longer able to love Yanko or she loves Yanko to such an extent that she finds she is incapable of joining Yanko on an earthly plane as Joseph Campbell describes (page 159). Whatever the reasons may be, Amy refuses to aid Yanko in his time of need, resulting in Yanko's death. There is a great change of heart from Amy's first compassion for Yanko to her nonchalance of his death. However, the results may have only been a product of the different levels of love felt by Amy for Yanko. The general population of Brenzett treats Yanko an escaped lunatic when he is first spotted in the seaside town. He is whipped, stoned and beaten by many of the residents. In addition, he was captured and caged like a wild animal. He is described as a "drunk", "tramp", and "creature". He is very different from the usual Englishman and is treated as such. He is segregated and is forced to work for Mr. Swaffer. However, one person sees through the differences. Amy, perhaps because of her stupidity or an ability to feel for Yanko, does not see a wild foreigner that screams at night and dances strangely. She saw only the similariti... ... an alien and does not aid him, while she has lost all love for him. It is unclear to the reader whether it is great love that Amy experiences - so great, she cannot bear the pain - or it is an inability to love Yanko anymore that causes her stay motionless as Yanko calls for her help as he dies in front of her. The story of Amy Foster presents an incredible mystery about the love between a dull woman and a foreign man. Even with the aid of an extremely helpful analysis of love by Joseph Campbell, it remains unclear why Amy acts the way she does as Yanko lies on his deathbed. Does Amy feel an immense love for Yanko or does she fail to love him at all? Whatever the reason may be, it is clear that she expresses throughout the story many of the differing types of love along with their implications discussed in Campbell's essay, The Mythology of Love.

community responsibilities :: essays research papers

Do you believe that our community should have leaders, or do you believe that everybody should be truly equal in our environment? The United States is living in an environment where there is a small group of leaders that make decisions for everyone else. When you hear somebody say they are going to make decisions for you, you might be thinking you would have to tale that decision no matter what. Well, that’s wrong, there is still an opportunity on weather you have to take the decision or not. There are votes, when you vote you either agree of disagree with any decisions. If there were more people that disagree than there were people that agree, then you were left with what you wanted. You still had the opportunity to choose what you wanted. Being with a group of leaders to make decisions for a society doesn’t necessarily mean that you would have to take the decision. No matter what you still have the chance to decide. A group of people needs to be over others to help g uide and make decisions because with no leader everything would be out of control, everybody’s decisions would not be heard, and a group with no leader would never be efficient. A group of people needs a leader because without a leader everybody would be out of control and nobody would be able to deal with them. Without a leader not everything would be controlled. Anybody in a society with no leader would not know what he or she is doing. They won’t know what doing because there is not one decision maker that has good reasons for those decisions. Groups of people would gather around making chaos about everything. Some people make chaos and act wild because they don’t have a leader to till them what is right and wrong. People would be wild because they wouldn’t be controlled and it is impossible to get a big group of people together at the same time to be dealed with. Being out of control is not the only problem with being equal, but everybody’s decisions would not be heard. Without having a leader not everybody’s decisions or opinions would be heard. A group of people or society always needs a leader so everybody’s decisions would be heard. Without a leader there would not be much communication. If a person comes up with a good decision or idea that person would not be able to let the whole society know about his or her ideas. community responsibilities :: essays research papers Do you believe that our community should have leaders, or do you believe that everybody should be truly equal in our environment? The United States is living in an environment where there is a small group of leaders that make decisions for everyone else. When you hear somebody say they are going to make decisions for you, you might be thinking you would have to tale that decision no matter what. Well, that’s wrong, there is still an opportunity on weather you have to take the decision or not. There are votes, when you vote you either agree of disagree with any decisions. If there were more people that disagree than there were people that agree, then you were left with what you wanted. You still had the opportunity to choose what you wanted. Being with a group of leaders to make decisions for a society doesn’t necessarily mean that you would have to take the decision. No matter what you still have the chance to decide. A group of people needs to be over others to help g uide and make decisions because with no leader everything would be out of control, everybody’s decisions would not be heard, and a group with no leader would never be efficient. A group of people needs a leader because without a leader everybody would be out of control and nobody would be able to deal with them. Without a leader not everything would be controlled. Anybody in a society with no leader would not know what he or she is doing. They won’t know what doing because there is not one decision maker that has good reasons for those decisions. Groups of people would gather around making chaos about everything. Some people make chaos and act wild because they don’t have a leader to till them what is right and wrong. People would be wild because they wouldn’t be controlled and it is impossible to get a big group of people together at the same time to be dealed with. Being out of control is not the only problem with being equal, but everybody’s decisions would not be heard. Without having a leader not everybody’s decisions or opinions would be heard. A group of people or society always needs a leader so everybody’s decisions would be heard. Without a leader there would not be much communication. If a person comes up with a good decision or idea that person would not be able to let the whole society know about his or her ideas.

College is worth it Essay

Having a higher education has various benefits. A person’s chances of being employed are higher, they will earn more money than if they had a blue collar job, and most importantly it will teach them how to live. They will learn â€Å"how to be an informed and involved citizen, how to communicate effectively, how to understand other cultures and peoples, and how to think and reflect. For many students, college is a time of personal growth and social development-a chance to make friends, get to know people from different backgrounds, and explore new ideas and activities† (Graff, Birkenstein, Durst 177). Paying for college can be really stressing, both physically and emotionally. People will have to struggle with loans, financial aid, and possibly having multiple jobs. Despite the difficulties of attending college, it will be worth it and benefit you greatly in the end. In elementary school, most of you must have been asked what your dream job was. Your answer was most likely a fireman, a teacher, a superhero, or a singer, right? But as the years went by, you probably changed your mind, because you began to realize that people cannot fly, your voice was not the greatest or there was no way you can deal with annoying kids and not even get paid enough for it. By your senior year in high school you should have already had an idea of what you wanted to be, or what major you wanted to study at least. The majority of high school graduates will attend college, and if they don’t they will go straight into the workforce, either because their parents cannot afford college, or they simply do not like school, or join the Navy or the Army for that same reason of disliking school and they find it easy because recruiters make it sound that way. Some high school students start working and when they see the amount of money they are getting, they start to believe that maybe they don’t even have to go to college. They might just live well off of their blue-collar job earnings. What they do not realize is that their parents are most likely not going to want them living at home forever and if they move out to have their own place, all the money they earn will no longer go to just gas and food. They will now have bills to pay. They might be capable to cope with everything if they have a full-time good paying job or if they have two or more jobs. They might think that their friends going to college have a part-time job and are struggling trying to pay for tuition, books, and rent. What they don’t think of though, is the future. They do not realize that a few years from now, their friends will be college graduates, either with an Associate’s degree or a Bachelor’s degree. Even though it might take them a while to find a job, when they do, they will be earning twice as much money than the person who chose not to go to school. Many high school graduates are naive enough to believe that the military or whatever they get into is going to help them out with college when they get back home. It is disturbing to know that many young people go out to fight for their country and when they come back they are disappointed to find out that everything they did was not even worth it. They come back as changed people, and not always for the better. Some who actually get to see combat, come back mentally ill or even missing body parts. Their lives might never be the same after everything they have seen and been through. On top of that, they try coming back to college, and ask about the â€Å"help† they were going to receive, and they end up getting no aid. Afterwards there they are struggling to get their veteran benefits, trying to be someone bigger and better in life. In today’s economy, lack of a college education greatly limits opportunities. Basically the longer people stay in school, the more likely they are to have a job. College graduates are not only more likely to have a job but have a much better paying job. The unemployment rate for individuals who hold a Bachelor’s degree has always been about half the unemployment rate of individuals who hold a simple high-school diploma. â€Å"During a fourty-year full-time working life, the median earnings of bachelor’s degree recipients without an advanced degree are 65% higher than the median earnings of high school graduates† (Baum, Ma, Payea). Wilson claims that â€Å"a student who graduates with $20,000 in debt should be able to make at least that amount in extra earnings in one to two years’ time, she calculates, simply by having earned a college diploma† (260). People with a higher education also seem to be more satisfied in their jobs than people who only have a high school diploma. â€Å"The percentage of workers ages thirty to forty-five who report being very satisfied with their work ranges from 42% of those with less than a high-school diploma and 51% of those with a bachelor’s degree or higher† (Baum, Ma, Payea). You can gain self-confidence after having obtained a higher education. You will realize that you really are capable of learning at a high level. â€Å"Having the higher education will have prepared you to contribute to the industry you have chosen to get into. If you have higher education in a field that you are interested in, you will have a better chance of getting a job that best suits you and your abilities. This can be a very rewarding thing because you will be able to more easily find work which involves you doing something that is interesting for you, and something that you enjoy doing† (Benefits of Getting a Higher Education). Without the higher education, you will have to limit yourself to what you are qualified for. Not only does having a higher education improve your self-confidence, but your health as well. College graduates tend to have better health. â€Å"A 2006 study published by the Carnegie Mellon University Psychology department found that college degree holders have lower levels of cortisol, a stress hormone, compared to people with less education† (Hardy). They are also less likely to be out of shape, end up living on the streets, in jail, be smokers, or rely on government programs. â€Å"In 2012, only 8% of individuals with at least a bachelor’s degree smoked, compared to 25% of high school graduates and of those without a high school diploma† (Baum, Ma, Payea). The poverty rate for an individual with a bachelor’s degree is about one-third of the poverty rate for an individual with a high school diploma. â€Å"Nearly 70% of college grads had employer-provided health insurance, while only 50% of high school graduates had that benefit according to a 2008 report by the College Board†(Hardy). Works Cited â€Å"Benefits of Getting a Higher Education† . N. p.. Web. 23 Oct 2013. . Hardy, M.. N. p.. Web. 23 Oct 2013. . Graff, Gerald, Birkenstein, Cathy, Durst, Russel. They Say, I Say (with readings). New York. London. W. W. Norton & Company Inc. 2006. Print Baum, Sandy, Ma, Jennifer, Payea, Kathleen. Education Pays 2013. 2013. The College Board. Wilson, Robin. â€Å"A Lifetime of Student Debt? Not likely. † They Say, I Say (with readings). Graff, Gerald, Birkenstein, Cathy, Durst, Russel. New York. London. W. W. Norton & Company Inc. 2006. Pages 256-273.

Starwood Case Study

Since India has a growing hospitality market they don’t have as many resources available which poses many problems for entrants into the market. Starwood plans to introduce the aloft brand into the untapped Indian hospitality market which creates a huge question mark as to whether or not there is a market in India for the economy brands. The skilled labour market is very slim in India, making it difficult to hire the right type of service oriented employees. The cultural differences will also prove to be a challenge for Aloft. Aloft is a brand that isn’t well known throughout the international market let alone the domestic markets in the United States and Canada. Many people traveling to India who are traveling internationally will be looking for brands that are familiar which may pose a threat to the success of the Aloft brand in India. Situational Analysis Strengths India offers huge demand for any hotel company looking to build rooms. The domestic market is growing exponentially and the government is replying by fixing roads to make travel easier (Simona Terron). Weaknesses Finding skilled labour has shown to be difficult in India and the adjustment to more westernized businesses will prove to be a challenge for locals. The infrastructure in India is still pretty bad even though the government is trying to fix the roads. Domestic travelers are used to the roads but foreign travelers will find it very difficult to navigate through the cities. India’s social unrest will be a hurdle that must be overcome in order to stabilize the economy as a whole. If the government isn’t strong, foreign travelers will steer clear of India. Opportunities The open sky policy created in 2008 opened up travel from India to the UK. The sky travel industry has grown 25 %, creating a huge opportunity for the service industry in India (The Financial Express). Threats While India is growing, there are many other companies that want to ride the wave. According to the case Accor has plans to add more than 5,000 rooms to their portfolio in India. There are also many Indian hotel brands that plan to expand. Alternatives (See Appendix) Alternative 1: Creating training seminars that locals can attend will help Starwood create a labour pool that is more attractive Alternative 2: Implementing policies that embrace cultural differences will help ensure the success of the Aloft brand in India Alternative 3: Introduce the Four Points by Sheraton brand instead of Aloft as this is a brand that is already recognized internationally. Alternative 4: Instead of introducing the Aloft brand, Starwood should implement a management business model in India. Analysis of Alternatives (See Appendix) Alternative 1: No risk involved, 100% return on investment. Starwood will gain a competitive advantage as they will have a better pool of applicants to choose from. Alternative 2: No risk involved, 100% return on investment. The Aloft hotels much implement ways to overcome the cultural barriers they face in India. Alternative 3: Moderate risk involved, 100% return on investment as the risk is met with a huge demand for economy hotels in India. Alternative 4: Moderate risk involved, 100% return on investment as this business model has worked in similar markets. Recommendations Starwood has a huge opportunity to penetrate the Indian hotel market and they are not doing so in the right way. Introducing the Aloft brand into India may be successful for a while just on the basis that there is a huge demand for rooms but this advantage is not sustainable. Once more hotels penetrate the market; Aloft will be pushed to the side as it just doesn’t fit in the Indian market. Starwood should introduce the Four Points by Sheraton brand as it is a more internationally recognized brand. Since the management business model has worked for Intercontinental Hotels in the Asian market, Starwood should do the same in the Indian market. Whether or not Aloft is the brand that Starwood chooses to introduce in the Indian market they will need to train potential employees. Starwood needs to offer training seminars for locals to attend in order to train them for service expectations. Starwood will also need to find ways to overcome cultural barriers in India. I mplementation Implementing the training seminars and the cultural embracing policies in the hotels will require human resources. These alternatives will only take a few weeks to implement and a small amount of funding for incentives. Introducing Four Points by Sheraton and looking at the management business model will need a large amount of capital that, according to the case is already available. The implementation of these two alternative can be done in the same way Starwood was going to introduce the Aloft brand into the Indian market.