Wednesday, October 30, 2019
Environmental Science Essay Example | Topics and Well Written Essays - 2500 words - 2
Environmental Science - Essay Example 2. The earth’s surface is formed of plates constituting both continental and oceanic lithosphere called tectonic plates. These plates are in a constant state of motion, causing tremendous build up of energy. The plates sometimes slip under one another and at other times collide with one another. Collision releases vast amounts of this energy up the rocks causing earthquakes. When tectonic plates diverge or converge, volcanoes are formed. 3. Mining and mineral processing activities generally pollute both surface and ground water of the region, creates noise and dust pollution, alters the land use pattern, wildlife populations and natural vegetation of the region. There is a negative impact on the health of communities living close to mining areas. 4. Governments are certainly not going to stop nuclear power research and nuclear power programmes because we ask the question, â€Å"can we dispose off nuclear waste?†Nuclear waste would be generated, so we now have to see how best to dispose off the waste. Yucca Mountains has been selected as the site for a safe repository of nuclear waste based on safety evaluations of the geological, hydrological and geochemical environment including such factors like thickness of overlying rocks and soil, depth of ground water, location of faults, characteristics of rocks that will hold the repository, depth at which the waste would be stored. The material that will be used for packaging the waste and how the waste would be transported to site have all been described in detail. Based on all available information and reports, Yucca seems to be a site suitable for long-term disposal of nuclear waste 5. Earthquakes generally result in large scale loss of life and property. It could trigger landslides, cause tsunamis, damage to dams or large water holding bodies could cause floods, liquefaction could cause buildings and structures to collapse, broken gas lines could cause massive
Monday, October 28, 2019
The Impact Of Behavior On Individual Success Essay Example for Free
The Impact Of Behavior On Individual Success Essay INTRODUCTION            Success means different things to different people. For some it means having a healthy family, living in a nice home, and working at a good job. For others it means fancy cars, glamorous surroundings, fame and of course, fortune. In addition, each person’s definition of success changes as his or her life moves and changes. At one point in life, success might mean falling in love and entering into a long-term relationship with another person; at another point it might mean devoting a significant amount to travel or put the kids through school; and at still another point in time, it might mean devoting a significant amount of time and energy to spiritual matters, Even though every individual has a different and ever-changing definition of success, what motivates each and ever one of us to pursue success is our desire for a happier and more fulfilling life.            Success, therefore, is more about emotional satisfaction than it is about maternal reality. It is more of a state of mind than a state of being. When we set our sights on a new job, more money, a new car, a better relationship, what we are really asking for is happiness that is a very worthy goal.            We have become a society that desires immediate gratifications above all else. More often than not, when we watch television or go to the movies, we see this desire projected onto characters who usually have no real means of earning a living, but who possess everything we want: money, lovely homes, and many other material things. There is no great mystery surrounding what constitutes the material dimension. Our ability to think inwardly, to reason, is what separates us from other living creatures. This ability to think inwardly and pursue tranquility is what makes living worthwhile. This paper looks at the impact of behavior on individual success and the ways people can improve their success by improving their behaviors and actions. The performance of a business depends on how its organization behaves in the midst of dynamic environment, competition and diversified consumers. The success and failure of a business firm rely much on the type of its organizational behavior. A business firm encounters uncertainty and risk in its operation which mostly related to changes in the economic condition, consumer preferences and competitors. There is also the challenge brought by the highly competitive market that a business firm has to face. In addition, organizational behavior includes changes in its internal organization such as the employees, shareholders and the management. George Jones (2000) define organizational behavior as â€Å"the study of the many factors that have an impact on how individuals and groups respond to and act in organizations and how organizations manage their environments.†It deals with the interaction between the organization and the individuals or its employees. The study of organizational behavior provides a set of tools that explains why people in an organization stay for many years or leave in a short period of time. It also explains why there are people who are considered assets in a company but others are not. The study of organizational behavior also serves as an instrument that allows the management to identify strength and weaknesses of each individual or group. In this way, promoting changes in an organization will improve the capacity of each member to achieve the organization’s common goal and objective. Gibson et al (2002) maintains that effective management of behaviors needs an understanding of theory research and practice. It is essential that these three characteristics be incorporated both in individual and organizational success. Author Derrick sums up his idea of an ethical way of life as being a passionate way of life as well when he begins his book with the saying that â€Å"An ethical endeavor at which you can work with passion and integrity is a key component in a satisfying life.†Derrick is not the common self-help psychology author. The reader is made to feel that what he says is sacred and worth reading. He has all his insights about life in that book. It seems that passion is a main issue to him as he repeats it again on page 18 as he says. An ethical life is, of necessity, a passionate one (p. 18). As one reads the book, the reader is reminded how the values he expounds in his book can be linked to actual work settings. For instance, the value of courage as he explains is not so much in being brave but in owning up to one’s duties and responsibilities. Blaming has never been an asset in any company, especially a prison where a mistake can be fatal when things go awry. When people start blaming other departments for the problems that arise, then, there must something wrong with the way that institution has been established in the first place. What is sure though is the faulty attitude that makes up that particular organization. This is also a big communication barrier that needs immediate remedy. When one has a grudge against someone, he tends to make that someone responsible for everything he finds wrong. But when one is honest about his dealings with people, then that honesty returns back to him many folded.            When a person in one department blames someone, his desire to judge and punish is often what is at work. Someone blames another when he is angry because the action made things turn out differently than he wishedâ€â€if not through his words, then through his manner and tone of voice. One can put all the responsibility for what happened to him, in a way that implies what he did was â€Å"wrong†or â€Å"bad.†Moreover, blame breeds resentment. â€Å"it’s your fault!†is a red-flag phrase. It is to a person what a matador’s cape is to a bull. The hooker in blame is that smidgen of truth in what one said or implied. One can seldom say, â€Å"That’s just what you feel-it has nothing to do with me.†When a person’s blamer goes to work, it is very canny. It knows exactly where to go zap, where to pick out that nasty kernel of truth. A put-down artist is an expert at zeroing in on where you feel bad about oneself and making him feel even smaller there.  Two messages get mixed up in blame: one party’s statement of how he feels (I’m angry and disappointed†) and one’s evaluation of the other party (â€Å"Scum like you shouldn’t be aloud to work in this company.†). The feelings about the situation are often hidden in the â€Å"you-are-bad†message, instead of being said straight out. One-way blaming in the organization is overcome is help open up communication between two blaming departments. Members of these departments must also be reminded that they need to take responsibility for their part in what happened. In the end, there is respect to the proper authorities.            Each organization has its own characteristics depicted by the behaviors of its members or employees. They share a common behavior which is already established among them even though employees come and go over time. This common behavior is considered as an organizational culture that bonds the relationship among employees and management. Employees will only adapt to this culture and it is difficult for anyone to deviate. Hence, an organizational culture also influences the behavior of an individual. Since it is very hard to deviate from an organizational culture, adjustment in most cases takes time. Organizational culture also changes overtime. An example of this is the changes in workplace environment. Traditionally, a workplace environment is characterized by workstation, office space or building. With the advent of new technology in communication, the use of virtual office has been introduced. A virtual office allows an employee to work at home or at any place of his or her convenience. An organization culture may develop in this kind of work environment that will involve even workers located all over the globe.            The introduction of new technologies in communication, the internet in particular, provides many opportunities for many business firms. Business firms can expand its market from local to international customers. However, business firms will also face the threat of increasing competition and the uncertainty of customer preferences. The diversity of the competitors and costumers in the world market is a big challenge for creating new business strategies. Competitors are diversified in terms of product features, prices and selling schemes. On the other hand, customers differ in preferences, taste and purchasing power. In addition, the international market itself is diversified in terms of government regulations, technological facilities, culture, tradition and religion. (Leading Quietly).            The new challenges brought by the diversified international market require organizational effectiveness and efficiency to succeed in business. Organizational effectiveness and efficiency rely much on the business strategies that decision-makers formulate. Each organization is unique and has its own characteristics. This means that decision-makers such as managers and corporate heads must have business strategies fit to the needs of the organizations. Decisions should consider internal and external factors as well as short- and long-term goals that affect business goals. However, any decision made also comes with risk in which the outcome may not be satisfactory. But this may serve as a learning experience for an organization to improve its performance in the future especially in terms of the way they conduct their business (Business Ethics).            Organizational learning is part of an organization’s development process. Business strategies evolve overtime as market shifts from simple to complex customer needs. Effective learning process among decision-makers includes their relationship with the market, colleagues and the organization. They should learn as an individual to make themselves more capable and effective. They should also learn as an organization to impart with them the organization’s goals and objectives. Organizational learning varies in different form. Some organizations learn from external factors while others learn from within. External factors such as business cycles, economic condition and competitors’ behavior influence management’s decision. Likewise, internal factors such as employees’ empowerment, management change and organizational restructure affect business performance. Asking is a process of learning within an organization. It is not wrong for a manager to ask or seek suggestions from his or her subordinates. This management style can introduce teamwork within the organization. The role of a manager may shift from one who direct, commands or dictates tasks to one who coaches, coordinates or oversees business goals. However, this type of management practice requires that employees should share with the organization’s goal, mission and strategies. This only happens if communication between the organization and the employees has been well-established. Communication starts in the beginning of employment. Each employee should be aware of the organization’s mission, vision and goal. He or she knows the importance of the job that he or she will perform and how this will contribute to achieve the organization’s goal. An employee’s perception may be different from the way he or she behaves in an organization. However, better communication between the organization itself and the employees will facilitate as corrective tools to the perception of an employee that might be influenced by his or her work environment. Bell has insightful nuggets of wisdom interspersed in his book as he views corrupt leaders as being too much money-oriented. People need to be informed about standing up for one’s true beliefs. An example here is when departments do not communicate or update the status of information, because they are afraid the boss will be angry. To avoid this, employees must be able to follow up to determine whether important messages have been understood. Feedback doesn’t have to be verbal; in fact, actions often speak louder than words. The sales manager who describes desired changes in the monthly sales planning report receives feedback from the report itself when it is turned in. If it contains the proper changes, the manager knows the message was received and understood.             Managers who tell everyone to see the big picture often create a serious communication overload. Rather than trying to keep everyone involved, top-level management need to follow the â€Å"need-to-know†principle transmitting communication and updating people in other areas of the organization that need the necessary information. Sometimes it is useful to regulate the flow of information and procedures that need to be brought to the attention of the people in the other departments. As long as performance falls within the acceptable range, the regular procedures are followed. References Bell, D.(2002). Ethical Ambition: Living a Life of Meaning and Worth. Sept.- Oct. 2002 Bloomsbury of New York and London October 2002. Business Ethics. Retrieved Jan 11, 2007 at: http://www.amazon.com/gp/reader/0130797723/ref=sib_dp_pt/104-1829689-6709521#reader-page George, J., Jones, G. (2000). Understanding and Managing Organizational Behavior (3rd ed.). Upper Saddle River, NJ: Prentice Hall, Inc. Retrieved Jan 11, 2007 at: from, http://www.prenhall.com/managementzone/georgemob3/ Gibson, James, Ivancevich, John, Donnelly, James and Konopaske, Robert. (2002). Organizations Behavior, Structure Process. McGraw-Hill/Irwin. 11th edition. Leading Quietly. Retrieved Jan 11, 2007 at: http://www.amazon.com/gp/reader/1578514878/ref=sib_rdr_ex/104-1829689-6709521?%5Fencoding=UTF8p=S00Qj=0#reader-page
Saturday, October 26, 2019
My Escape from Slavery :: Personal Narrative, Autobiographical Essay
I live on a car lot. My front yard is gravel and asphalt with intermittent splotches of eternally black oil unyielding to any cleaning agent natural or otherwise. Our house is built on the lot right beside iron train tracks. And of course there is the constant image of old cars lined up in rows, not junky just old. It's embarrassing to live under these conditions, but I wouldn't change the situation at all. My family moved onto the car lot when I was in seventh grade. My father had been in the used car business for only about five years. As an adult my father had switched jobs more often than most middle class parents are accustomed. Before taking on the title of a car salesman, he had held a well-paying state department position in which he trained the unemployed so they could find work. However, he claims that by the end his job had become more about paper work and less about people. You see, my dad is a businessman, or at least prides himself as one. People are his game. He saw the car business as the perfect profession to utilize his gifts that were so shamefully being wasted at his old job. Those first years of his being a car salesman, however, I almost never saw my dad. I would get up and be off to school before he awoke, and I would be asleep or at least in bed before he was able to drag his exhausted and overworked body in the front door and collapse in the bed. Often he would be unable to eat dinner until he slept for a couple hours. I can still remember a few times seeing him sitting on the couch at 2 o'clock in the morning in his pajamas eating cottage cheese and peaches and watching Headline News. Needless to say, my father grew tired of living such an existence. Sure, he was supporting his family, but I'm certain he felt horrible about his lack of time with his children. This case is of course what led to my father's suggestion that we move into the building next to his office on the lot. This "house" was actually just another office building with a kitchen. Furthermore this car lot had been erected in the same location as all the other dealerships in our community: downtown.
Thursday, October 24, 2019
Midsummers night dream summary
Dream, each of the cross-dressing characters does so as the result of conscious decision (as opposed to magical influence) and in order to attain a goal. While there are certainly a number of disguises in â€Å"A Midsummer Night's Dream†there are different motivations for characters wearing them. For Viola, her reasons for dressing as a young man are clear since she wants to be able to make a living in the new land she has found herself inhabiting.Although it may be a bit farcical because she may have Just as easily found employment without resorting o such extreme measures, she nonetheless is resolute in her decision to seek out Rosin. At the moment of her decision she boldly states, Viola fresh off the ship: â€Å"Conceal me what I am, and be my aid / For such disguise as haply shall become / the form of my intent†(1. â€Å". 49-51). It is important to note that she directly refers to her disguise as being related to intent and this intentional disguise is a theme that continues throughout â€Å"Twelfth Night†by William Shakespeare.Viola's choice of dressing as a young man, however, obviously complicates her pursuit f Rosin and although this is finally resolved at the end of â€Å"Twelfth Night†, her appearance actually dictates the reality of her love life. There Is a sense of hopelessness in the battle between what one sees and what Is truth and It Is best summed at the climax of this Identity conflict when Viola, realizing that Olivia loves her/him, says, â€Å"Poor lady, she were better love a dream†(11. 11. 24).In some senses, this play is, much like â€Å"A Midsummer Night's Dream†, a dreamboats where nothing Is hat It seems to be, the only difference being the use or exclusion of magical influence. â€Å"Twelfth Night†Is a play In which reality does not often correspond to appearances and thus It Is easy for the reader to begin to accept character's decisions to take on disguises and for Mallow to become enamored with the Idea (the appearance) of the love's existence rather than Its reality.Ad Optimized by Dupes Disguise and deceit are also prevalent In â€Å"A Midsummer Night's Dream†, and although the methods and actors are different, these elements yield the same final exult as seen In Twelfth Night. In each case the mix-up of appearances versus reality Is resolved a there Is happiness and a wedding at the end. In this case, there are no direct choices of disguises, but one Is chosen (different because the characters do not choose to be disguised with a certain set of expected outcomes).Puck magically transforms the head of Bottom Into the likeness of an ass, which Is a disguise (and a frightening one) to everyone who meets him In his transformed state except for the one woman In love with him. While magic Is Involved with this deluges rather than a conscious decision on the behalf of a character, this Is one of the more Illustrative examples to demonstrate how Sha kespeare uses the device of the deluges to reveal a higher truth (outside of the less complex and more short-term alms driving the disguise In the first place). Midsummer night dream summary By grease form of my intent†(l. I. 49-51). It is important to note that she directly refers to her appearance actually dictates the reality of her love life. There is a sense of hopelessness in the battle between what one sees and what is truth and it is best summed at the climax of this identity conflict when Viola, realizing that Olivia loves her/him, says, â€Å"Poor lady, she were better love a dream†(al. Ii. 24). In some senses, this play is, much like â€Å"A Midsummer Night's Dream†, a dreamboats where nothing is what it seems to be, the only difference being the use or exclusion of magical influence. Twelfth Night†is a play in which reality does not often correspond to appearances and thus it is easy for the reader to begin to accept character's decisions to take on disguises and for Million to become enamored with the idea (the appearance) of the love's existence rather than its reality. Disguise and deceit are also prevalent in â€Å"A Midsummer Night's Dream†, and result as seen in Twelfth Night. In each case the mix-up of appearances versus reality is resolved a there is happiness and a wedding at the end.In this case, there are no direct choices of disguises, but one is chosen (different because the characters do ransoms the head of Bottom into the likeness of an ass, which is a disguise (and a frightening one) to everyone who meets him in his transformed state except for the one woman in love with him. While magic is involved with this disguise rather than a conscious decision on the behalf of a character, this is one of the more illustrative examples to demonstrate how Shakespeare uses the device of the disguise to reveal a higher truth (outside of the less complex and more short-term aims driving the disguise in the firs t place).
Wednesday, October 23, 2019
Purhsing Paper Can Be Fun Essay
Question: What Performance problems is the captain trying to correct. Ans: 1 Poor Reporting Performance among the employees. Question: Use the MARS model of individual behavior and performance to diagnose the possible causes of the unacceptable behavior. Ans: 2 Possible causes for the unacceptable behavior is as follows: MARS Model: There are four main factors that directly influence an employee’s voluntary behavior and resulting performance. Employee Motivation: There was no clear motivation for employees to do their job perfectly as required. Motivation does not mean only financial motivation; people are motivated not only with money but also with an appreciation by the leaders of the company is enough to motivate them and pump in the force required to do the job with intensity. Captain must have set some goals which on achieving, the employees get recognition through an appreciation letter at least from the higher ranked personnel in the organization, keeping in mind that he was under the budget crunch which limited him in motivating employees by rewarding them financially. Ability: Analyzing the employees based on their capabilities was one of the cause. You will find some people whose interest is in doing the office work, captain should have recognize the skills and knowledge and segregate the work within depending on their capabilities. Coaching was also missing by the captain. Role Perceptions: They were aware about the consequences for inadequately doing the reporting as they were having issues when the case reached the court. Captain should have given them priorities from their various responsibilities by explaining them that the what matters is the quality of the work and not quantity. This would have helped them to improve. Situational Factors: As captain explained they set-up the team competitions based on the excellence of the reports, but the leaders were not committed and none of them were receiving any type of rewards for winning the competition. Leadership is responsible for the well-being of the employee in the company so they need to be committed. Question: Has the captain considered all the possible solutions to the problem? IF not what else might be done? Ans: NO What else can be done is as follows: 1. Task related trainings should be provided to strengthen the capabilities of the employees. 2. Improved Employee Engagement should be done, by recognizing the best employees, rewarding them which will boost their moral and they will feel that they are an integral part of the team. He can set-up a mechanism, like Employee of the Month Award and can display it in the office. 3. Coaching is also an important aspect of the leader, as a leader he should coach his team as and when required.
Tuesday, October 22, 2019
Be Careful Who You Call Your Friends Essay Example
Be Careful Who You Call Your Friends Essay Example Be Careful Who You Call Your Friends Paper Be Careful Who You Call Your Friends Paper My best friends and I had been exhausted from searching for the perfect prom dress for me to wear to my boyfriend’s prom.We had driven around for what felt like forever to find the dress. It was at least 100 degrees outside, no wind and humid; I thought the sun was never going to go down.After visiting a million places with no luck, we eventually gave up and decided to try the next day again. As we were on our way home, we spotted a fashion boutique with what looked like elegant Cinderella-like ballgowns on the mannequins in the stores display window, and we were right. The way the dresses were flowing so effortlessly classy yet alluring was like they were calling our names. We had to stop and try one last store. Arsha, Tayha and I went to the store while Stephanie stayed in the car, she was burnt out from running around all day and trying prom dresses on for herself. About 45 minutes later, I found the perfect prom dress; it was black, long sleeve, mesh on the top half with beautiful beaded applique in geometrical shapes, the bottom half was solid black with a mermaid style fitting and a circle train. I went in the fitting room to try the dress on; it fit perfect, it was flawless. I walked out to show my friends, and they all agreed and took pictures.The entire ride home we all talked about what we were wearing to prom, how our make up would look, what accessories we were going to wear, our nails, our hair, our shoes, we talked about everything! â€Å"I’m going to have sparkly nude makeup with a wing eyeliner and pink nude gloss†â₠¬â€œ Arsha said,â€Å" My hair will be straight with a middle part, like Cher, the singer â€Å" -Tayha said â€Å"My nails will be black with different crystal designs, and I will wear royal blue shoes to match my boyfriends soft to touch royal blue velvet blazer†I added,We went on and on, we arrived at my house, and we sat in the car talking for so long we hadn’t realized an hour went by. I had to w
Monday, October 21, 2019
Role Of Education in Sustainable Development Essay Essays
Role Of Education in Sustainable Development Essay Essays Role Of Education in Sustainable Development Essay Essay Role Of Education in Sustainable Development Essay Essay Sustainable development is that development which will run into the present demands of the community without compromising the ability of future coevalss to run into their ain demands. Environmental instruction involves among other things the proviso of information. acknowledging values. clear uping constructs etc in order to develop accomplishments and attitudes that enable the community to understand and appreciate the relationship between their civilizations and their physical milieus. At international fora. efforts have been made to advance environmental instruction. In the twelvemonth 1975 in Belgrade. the plan for international environmental instruction was started followed by the conference in Tsibilisi in 1977. Nevada 1979. Moscow 1987. †¦ . . Since so the council of European states has twice called on member states to progress on environmental instruction in all sectors of instruction. There is required a dominant policy to guarantee that the findings of research on environmental scientific discipline are decently applied to guarantee that the universe is safe for farther development with no farther devastation of the natural resources. It is hence necessary to affect the participants in political. economic and cultural sectors in planing environmental plans. By making this. we will detect that all these participants have turned conservationists and we can anticipate a struggle of involvement of manner in the attack of environmental affairs. This is because sustainable development is a contested district with its ownership disputed by forces with really diverse involvements. Its therefore hard to anticipate any relaxation of the attempt on those who will go on to enforce development to accommodate their terminals raising â€Å"modernity. national integrating. economic growing and other slogans†( Adams 1990. p199 ) . With challenges as these. instruction is a must in order to convey these involvements groups together and come up with sound policy on sustainable development. infact one that is witting of future demands. Obstacles TO SUSTAINABLE DEVELOPMENTThere are assorted obstructions to sustainable development which include: 1. Lack of consciousness on issues involved.2. Political unacceptableness of obvious stairss frontward.3. Resistance by groups with vested involvements.4. Insufficiency of institutional mechanism for incorporating environment and development. SolutionTo get the better of these obstructions. there is a feeling among many groups that there is a demand to replace the thoughts and values that underlie the composite and seeable obstructions with a new attack and reshaping of thoughts and values. To make this we need non merely a alteration. but a entire revolution of our thought. This can good be achieved through a well-designed instruction attack. ROLE OF EDUCATIONEducation plays a major function in heightening people’s consciousness about bio-diversity preservation every bit good as sustainable development. It leads to realization of preservation cognition and accomplishments which in bend aid in broadening people’s cognition about preservation. therefore doing them functional members of the society. Education will edify stakeholders on assorted issues associating to sustainable development and bio-diversity preservation. Besides instruction will sensitise them to take part to the full in runs against any act or development that threaten future sustainability. Consequently. instruction empowers stakeholders to take increasing charge of their ain developments as cardinal ingredients combined with a clear cognition of environmental restraints and of demands to run into basic demands. This enables people to understand their demand for and importance of biodiversity for now and in the hereafter. It is this instruction which will enable us gain that sustainable development confronts non merely society. but each of us at the bosom of his or her intent. It invites us to give practical support to the values of societal equity. human worth and ecological wellness. Education inquiries our preparedness to affect ourselves in the battle for alteration. it challenges our willingness to lend in greater step to the activities of NGO’s and dedicated persons who run on our behalf. Furthermore. instruction asks us to accept that the little beginnings from which so many successful runs have started resides within ourselves. As Laszlo ( 1989 ) puts it. â€Å"we contemplate altering about anything on this Earth except ourselves. †and this is due to the interior restraints in our visions and values that can merely be removed through instruction. This is because instruction will explicate the demand for and importance of attitude and behavior alteration in our chase for development. as a consequence we will gain that we owe the hereafter coevalss what we have today. It is instruction that will enable us make a decision as Max-reef ( 1991. P113 ) explains: -â€Å"I have reached the decision that I lack the power to alter the universe or any important portion of it. I merely have the power to alter myself. And the absorbing thing is that if I decide to alter myself. there is no constabulary force in the universe that can forestall me making so. It is my determination and if I want to make it. I can make it. Now the point is that if I change myself. something may go on as a effect that may take to a alteration in the world†. As such consciousness becomes more general. sustainable development will be regarded earnestly by the people who truly count non merely elites but people by and large. Education whether formal or informal has been proved to be a powerful tool in advancing alterations in the attitudes and perceptual experiences of people about a resource. A series of conferences under the protections of UNDP have been held to turn to issues refering to the nexus between sound natural resource direction and sustainable development. environmental preservation and improved human public assistance. Education for sustainable development will non merely make consciousness of the planetary crisis but must put it at the bosom of the course of study. It must be â€Å"ecological†instead than â€Å"environmental†encouraging wide holistic thought. learning the demand for structural alteration and advancing the right application of reductionist thought to specific proficient jobs. It will encompass all the agencies of the alteration discussed in this paper and watchful stakeholders to the feasibleness of alternate patterns. Further. instruction will non merely inform stakeholders. but besides let them to take part in determination devising procedure about biodiversity preservation and therefore advancing alteration. Through instruction. stakeholders will non merely go acquinted with one another’s vision about healthy ecosystems but besides stimulates them to explicate their ain visions associating to biodiversity. It will non merely learn them about holistic theory but will necessitate them to believe holistically. Holistic thought is a peculiarly of import agencies of alteration for sustainable development because it attempts to calculate out the effects. Holistic attack attempts to expect the job â€Å"simple†solutions. create and to place more satisfactory structural solutions. Holistic thought led one husbandman in Kenya. sickened at holding to hit the elephants destroying his harvests. to follow an alternate signifier of land usage. suiting non merely his ain involvement but besides those of elephants. of tourers who wanted to see elephants and of local people who could supplement their subsistence economic system with income from touristry. Education will besides assist us to see the demand of seting people foremost in all our enterprises in sustainable development and biodiversity preservation. Puting people foremost means rather merely valuing people for themselves. for what they are instead than for what they can make. or how they can execute in the service of some involvement whose terminals may be rather radically opposed to the meeting of human demand. Puting people foremost besides means empowerment- a procedure by which those who are or feel excluded from determination devising are enabled to take part in it. It involves the transportation of power from those in authorization to smaller groups. In some states this has to get down with set uping or re-establishing political rights and other basic freedoms. ( A recent illustration is the return to free elections in Malawi and Kenya ) . Merely so can a start be made to supply instruction and preparation to raise consciousness and allow stakeholders to play an effectual function in political procedure. Empowerment besides refers to what Paul Freire. the Brazilian educationalist calls â€Å"Conscientization†or instruction for consciousness. by which communities and persons become cognizant of the grounds for their poorness and subjugation and get down to discourse what they themselves can make about it without enabling action by the governments. Ecological instruction will non merely learn about authorization but will enable stakeholders to carry through their aspiration by assisting them to develop their full scope of abilities. By paying equal attending to emotional and rational development. instruction will learn the basic life accomplishments people need to set up individualities and turn as persons. By promoting creativeness. committedness and enterprise. it will fit stakeholders to take duty for themselves and their hereafter. and to avoid dependence on biodiversity without guaranting its sustainability through sound direction patterns. It will besides concentrate on relationships and learn what Harrison ( 1990. p203 ) calls the â€Å"work of human communicating of lovingness and nurturance. of be givening the personal bonds of the community†. It is envisaged that good organized instruction will besides heighten our ability to associate with each other. non merely on the degree of twenty-four hours to twenty-fo ur hours communicating accomplishment. but more significantly by admiting others individualities and rights to a resource. This instruction will originate a procedure of womb-to-tomb growing in consciousness and aspiration. An persons preparedness to take part in that procedure. at nevertheless lowly or rudimentary a degree. will be more of import than geting impressive makings. for as Paul Freire ( 1972 ) points out. we are all â€Å"unfinished†human existences with a committedness to better â€Å"unfinished†world. Without the chance to develop their possible. persons can non develop to the full in treatments and enterprises on which advancement to more sustainable development depends. Therefore. decently resourced and directed instruction will guarantee that all stakeholders become the donees of the attention. concern and accomplishments of others. DecisionIn a universe where the challenge of sustainable development is an imperative. instead than an option. we can non afford to suspend people from take parting by doing them experience failures. whether academic failures as a consequence of the stiff application of elitist criterions. or societal or personal failures as a consequence of unequal developments of both their demands and their possible. Therefore. I envisage that decently resourced and directed instruction aimed at promoting the development of sensitiveness. consciousness. critical thought. job resolution and active engagement in biodiversity preservation runs. will enable stakeholders non merely to go cognizant of the issues and be able to move on that consciousness. but will be equipped with the accomplishments required to lend efficaciously to the argument. They will larn to be after. organize. communicate with others. develop schemes and make confederations with an purpose of advancing sustainable development and guaranting biodiversity preservation.
Sunday, October 20, 2019
Harveys brew - Emphasis
Harveys brew Harveys brew A Sussex-based brewery has upset fans of punctuation with its inconsistent use of apostrophes. Apostrophe Protection Society member Jonathan Cook has taken to Facebook to campaign for Harveys Brewery to sort out its style. While the brewery usually omits the apostrophe from its brand name, Cook was apparently incensed after seeing the apostrophe suddenly included on beer pumps for Harveys Best Bitter at a Hove pub. (One can only imagine the internal turmoil he suffered, torn between a desire for consistency and for accuracy.) According to the marketing boss at Harveys, Bill Inman, the name should be naked of punctuation, and the brewery takes no responsibility for errant apostrophes or vigilante pump-makers. There is no apostrophe in Harveys, he told The Argus. If one appears on a pump somewhere it is without official sanction and I want to see the evidence. In fact, the inconsistency is in evidence on Harveys own site, where the name on the Christmas ale label includes an apostrophe. Mind you, that might be a simple error that has something to do with the beer having an alcohol content of 8.1 per cent.
Saturday, October 19, 2019
Immigration Law Essay Example | Topics and Well Written Essays - 3500 words
Immigration Law - Essay Example The objection by Steggles Limited in the House of Commons to the incorporation of a proposal by Yarrabee Chicken Company Pty Ltd has a certain modern resonance. This is a gloomy prognosis of the effects of limited liability upon insolvent companies. Steggles appeals against both of those findings. The first question that arises on the appeal is, therefore, the question of construction of clause 7.4(a). The primary judge took into account the language of the clause considered in light of other provisions of the contract, as well as contextual considerations.The nature of the term, which the primary judge had implied into the contract, reflected that against that background, there is, no doubt, a major challenge for the legal adviser in communicating comprehensibly to those who conduct their business, through corporations, large and small, about the law, which those structures lie, created and which regulates their operation. That challenge remained enhanced when corporate structures l ie allied, as they often are, to trust arrangements. On the grounds and case law, which the judges on appeal decide, is that which lies implied in terms of fact. These, however, do not require to give ‘business efficacy’ to the contract as The fact that Steggles was free at all times to determine the number of chicks or the density of the batches to be delivered to the Growers was very much at the heart of the contract. It shows that the contract stood weighted heavily in favor of the commercial interests of Steggles.... The objection by Steggles Limited in the House of Commons to the incorporation of a proposal by Yarrabee Chicken Company Pty Ltd has a certain modern resonance. This is a gloomy prognosis of the effects of limited liability upon insolvent companies. Steggles appeals against both of those findings. The first question that arises on the appeal is therefore the question of construction of clause 7.4(a). The primary judge took into account the language of the clause considered in light of other provisions of the contract, as well as contextual considerations. The nature of the term, which the primary judge had implied into the contract, reflected that against that background, there is, no doubt, a major challenge for the legal adviser in communicating comprehensibly to those who conduct their business, through corporations, large and small, about the law, which those structures lie, created and which regulates their operation. That challenge remained enhanced when corporate structures li e allied, as they often are, to trust arrangements. On the grounds and case law, which the judges on appeal decide, is that which lies implied in terms of fact. These however do not required to give ‘business efficacy’ to the contract as The fact that Steggles was free at all times to determine the number of chicks or the density of the batches to be delivered to the Growers was very much at the heart of the contract. It shows that the contract stood weighted heavily in favor of the commercial interests of Steggles. 3With regard to this implied term issue, it is sufficient in our view to say that the flaws in the Growers’ approach to the construction of cl 7.4 lay revealed in the difficulties, which her Honour discussed, in particular, in
Friday, October 18, 2019
The Incarnation and the cross Term Paper Example | Topics and Well Written Essays - 5000 words
The Incarnation and the cross - Term Paper Example †4 In trying to address the question â€Å"Who do you say that I am?†the researcher draws from various scholarly discussions pertinent to the subject matter of the research and from there try to understand the Incarnation and the Cross as the way to answer the question. However, as the Incarnation and the Cross have been discussed since the inception of Christianity, which have resulted into voluminous works on these mysteries, the research limits its attention on the discourse of the Incarnation and the Cross from the articulations of the anawim of the contemporary period - women and racial groups who have been relegated in the periphery of faith. Their voices will be the main sources of answer to the primordial question of the research Who do you say that I am? The research will be having the following structure. The first part is the introduction wherein the focal ideas and question of the study is presented. It emphasizes the centrality of the Incarnation and the Cr oss from the perspective of the marginalized people are given the arena to respond to the question the study will attempt to address, Who do you say that I am? The second section of the study will deal with the issue of who is Jesus? This is significant, as it will try to show the historical Jesus vis-a-vis the construction of who he is among the Christians will be given consideration. This is essential as who is Jesus is a concern that afflicts Christians and non-Christians alike as they try to understand the life and messages of Jesus in their lives in the midst of the rapid changes of the globalize world. This section will be having two subsections. The first subsection will be dealing with the experiences of black women as they try to take re-look at the Incarnation and the Cross from the lens of their oppression and segregation. The second subsection will tackle the discourse of feminist theology within the context of communities that offer alternative elucidations to the theol ogical explanations offered by the West to Jesus’ question ‘Who do you say that I am?’ The third part will present the analysis of the researcher on the issue. Finally, at the end of the study, the conclusion will be presented. It is the hope of the researcher that the end of this paper, the Incarnation and the Cross may bring us closer to the image of God and to believe that â€Å"goodness can and will triumph over evil. Despite the system, despite the magnitude, complexity and apparent insolubility of our problems today, humanity can be and in the end will be, liberated†¦.suffering, fear, misery, injustice can be overcome. And the only power that can achieve this†¦ the power of goodness and truth, the power of God.†5 2.0. Who do you say that I am? Jesus’ question Who do say that I am? is an invitation for all Christians to continue looking into our experience of Jesus in the midst of the existentialist angst and alienation that continue to plague the human condition.6 The Christian faith is the story of the triune God who creates the world, sustains it and since the beginning have continuously sought he means to be in constant relation with it.7 God has continually initiated the relationship between himself and
Unit 3 discussion domestic violence Research Paper
Unit 3 discussion domestic violence - Research Paper Example all that by producing a quality genetic generation with little or no traits of criminal behaviour but those focused on making our planet liveable in the next years to come. I believe the theory in as far as the notion of battery tendencies being experienced and not inherited. This is so because any form of violence including battery is acquired through the social learning process from abusive family members (Gosselin, 2009). Children learn from abusive parents and they pass these traits to their children through the same process of being violent and their children copying the same behaviour. An example to explain why the battery tendencies are not inherited is from observing siblings from the same parents acting out differently to resolve differences. Not all of them act violently and this explains why the behaviour is experienced. Children who experience or as exposed to more domestic violence and especially battery tend to be more violent that those who did not experience
Thursday, October 17, 2019
Minsheng bank Essay Example | Topics and Well Written Essays - 500 words
Minsheng bank - Essay Example The regulation of various industries by the government is intended to influence the manner in which an economy is run. The banking industry in China is highly regulated by the Chinese government, but this does not rule out the coexistence of both public and private sectors in the Chinese economy. Minsheng bank operates alongside state-owned banks which constitute the basis in which Minsheng and other private commercial banks are regulated in China. The effects of government regulation impact differently on different enterprises, companies, or organizations. Government regulation has its benefits and shortcomings. On the positive side, the imposition of regulations by the government does not only protect consumer interests, but also the interests of all players and stakeholders in the industry. The consumer is safeguarded from exploitation by the operating enterprises. On the other hand, government regulation creates cohesion in the industry, making it possible for the markets involved to exhibit fair competition. Such moves treat all players in the industry equally, thereby enhancing economic growth and development in regard to the contribution of all operational firms in the industry. On the other hand, government regulation curtails the full potential of an enterprise. It limits the expansion capacity of a company, in the event that the company’s expansion strategies are not consistent with the government’s provisions at that time. Government regulation also interferes with market autonomy and free market activities, thus limiting the liberalization factor in the global arena. In this respect, the public sector appears to be relatively favored by the government due to the priorities it is accorded within the regulation process. In the light of government regulation, another significant business strategy emerges in the global banking industry; acquisition. The substantial regulation of Chinese markets and
Comparison of ICT and Education Essay Example | Topics and Well Written Essays - 1000 words - 1
Comparison of ICT and Education - Essay Example The interest in information and communications technology (ICT) swept the latter part of the twentieth century when technological advances grew at a massive rate. It is not, therefore, surprising that institutions like education have rushed towards technologies with open arms, and sometimes unprepared for it (Murphy, Walker and Webb, 2001). It is only until recently that challenges related to implementing ICT in education have caught the attention of researchers and academics. Studies, albeit seemingly retrospective in nature, remain promising in how it may be able to successfully make use of ICT in education. Is ICT in education effective, and if so, what makes it effective? These are the two primary questions that Skyler et al (2005) and McCarthy (2009) endeavored to answer in their research studies. The former team of researchers sought to find out if there are significant differences in student responses on a special education class that was delivered in three ways: traditional classroom, online classroom, and class-in-a-box using multimedia CD-ROMs (Skyler et al, 2005). McCarthy (2009), on the other hand, evaluated the use of WebCT in e-learning using Bloom’s taxonomy. Bloom’s taxonomy is often used for evaluation of students’ learning in traditional classrooms, and McCarthy (2009) applied this concept in e-learning. Generally, both articles examine the usefulness and effectiveness of ICT in education, but this is achieved through differences in the focus of the studies, which consequently direct the type of methodology used and the data collected. It would be go od to note that Skyler’s (2005) study in 2005 was used, among others, as a springboard for the McCarthy’s study in 2009. The 2005 study by Skyler et al. used pre-test, post-test and survey questionnaires to gather to examine if there were significant changes in the achievements and satisfaction of students taught in the three different settings mentioned above.
Wednesday, October 16, 2019
Minsheng bank Essay Example | Topics and Well Written Essays - 500 words
Minsheng bank - Essay Example The regulation of various industries by the government is intended to influence the manner in which an economy is run. The banking industry in China is highly regulated by the Chinese government, but this does not rule out the coexistence of both public and private sectors in the Chinese economy. Minsheng bank operates alongside state-owned banks which constitute the basis in which Minsheng and other private commercial banks are regulated in China. The effects of government regulation impact differently on different enterprises, companies, or organizations. Government regulation has its benefits and shortcomings. On the positive side, the imposition of regulations by the government does not only protect consumer interests, but also the interests of all players and stakeholders in the industry. The consumer is safeguarded from exploitation by the operating enterprises. On the other hand, government regulation creates cohesion in the industry, making it possible for the markets involved to exhibit fair competition. Such moves treat all players in the industry equally, thereby enhancing economic growth and development in regard to the contribution of all operational firms in the industry. On the other hand, government regulation curtails the full potential of an enterprise. It limits the expansion capacity of a company, in the event that the company’s expansion strategies are not consistent with the government’s provisions at that time. Government regulation also interferes with market autonomy and free market activities, thus limiting the liberalization factor in the global arena. In this respect, the public sector appears to be relatively favored by the government due to the priorities it is accorded within the regulation process. In the light of government regulation, another significant business strategy emerges in the global banking industry; acquisition. The substantial regulation of Chinese markets and
Tuesday, October 15, 2019
Analyze the article Assignment Example | Topics and Well Written Essays - 250 words - 1
Analyze the article - Assignment Example he LED bulbs but affects the environment owing to a change in food chain from attracting more insects making them easy food for predators and being shipped away in ships. The article is about the use of LED bulbs that use 90%less energy than incandescent bulbs and â€Å"lasts 100,000 hours compared with 1,000 hours for tungsten filament light bulbs†(Zolfagharifard, 2014). However, despite being good for the environment, the article basing on the findings of New Zealand-based institute Scion, states that the LED lights have a problem to insects that are more attracted by LED spectrum of light. Blue light generated by LED lights attract insects and they â€Å"claim the attraction can be fatal, causing flies to be thrown off their usual path and into the jaws of predators, disrupting the food chain†(Zolfagharifard, 2014). The other concern is that LED light â€Å"near ports could attract flying pests, such as the gypsy moth (pictured), that are accidentally transported by ships†(Zolfagharifard, 2014). The article mainly deals with the impact of LED light attraction of on insects including high rate of insects being eaten by predators and transportation on ships and the relation of these on the food chain. The findings of the institute relating to the impact of the LED light is interesting and requires the need for better understanding the new technology to avoid harming the environment and altering the food chain. The impact of article to me is that it changes my view on the LED light that I have always believed to be a worthy invention and there is a need to determine ways to reduce the attraction of insects to LED
Psychosis Leads to Murder Essay Example for Free
Psychosis Leads to Murder Essay Throughout In Cold Blood, Truman Capote writes on the events directly before, during, and the happenings after the brutal murdering of the Clutter family in the quaint town of Holcomb, Kansas. The actions Dick Hickock and Perry Smith attracted Capote and led him to ultimately report on the entire ordeal. Throughout Capote’s masterpiece, In Cold Blood, Hickock and Smith’s deranged and psychotic actions directly correlate to a deep psychosis they both suffered for multiple years. Throughout the novel, In Cold Blood, the two murderers, Dick Hickock and Perry Smith, show instances of unwarranted anger and aggression that leads readers into believing that a serious issue with their psyches have occurred. Early in, the novel Hickock states, â€Å"I didn’t want to harm the man. I thought he was a very nice gentleman. Soft-spoken. I thought so right up to the moment I cut his throat†(Capote 88). Here, the reader can clearly see Hickock contradicting himself but in in a rather frightening way. Smith also shows an instance of this as well later in the novel when he says, â€Å"I wish she’d been in that house that night. What a sweet scene!†(Capote 259). When Smith says ‘she’ in the previous, quote he is referring to his own sister. He vocalizes that he wishes his sister was among the Clutters in their house the night he and Dick killed them. This allows the reader to truly gage the depth of his psychosis by not even allowing himself to show any compassion to his own family. In Brian Conniff’s article â€Å"Psychological Accidents: In Cold Blood and Ritual Sacrifice,†he agrees with the previous thought by stating, â€Å"Hickock was the one with the ‘sexual intrest in female children’ who wants to stop, in the middle of the burglary, to rape Nancy Clutter,†a direct quote from Smith (5). Furnished from Capote’ s personal accounts, it allows the reader to see further into the extreme violence of the convicted felons. Aside from unwarranted anger and aggression, both, Hickock and Smith show a magnitude of signs that allow outsiders to infer that they, themselves, know of their mental condition and knowingly choose to ignore it. In many instances they vocalize this to each other and even to complete strangers. Shortly after the murders Smith said, â€Å"†¦The kind of psychotic rage it took to commit such a crime†(Capote 83). And Hickock mentioned, â€Å"I think there must be something seriously wrong with us to do what we did†(Capote 108). The context of these two quotes makes it quite easy to understand why readers believe that Hickock and Smith knew of their mental issues prior to the murders but both decided to ignore them. In Conniff’s article â€Å"Psychological Accidents: In Cold Blood and Ritual Sacrifice,†he agrees with the idea above by stating a written portion of an interview with Hickock done by Capote that reads, â€Å"Like all of the rest of the ‘normals,’ as Perry calls themâ€â€Ã¢â‚¬Ëœrespectable people, safe and smug people’†(3). This is yet another solid acknowledgement of his insanity, which he chooses to blatantly ignore. Throughout the entire novel, Hickock and Smith both suffer seriously from psychotic delusions and emotional rants, which forces readers to perceive Hickock and Smith as mentally insane men. During one of these rants Smith exclaims, â€Å"I WANT TO CONESS!†(Capote 100). Hickock also shows multiple instances of emotional rants also. One of many comes when his sister says she will not contact him and he, overrun by emotion, states, â€Å"I wish she’d been in that house that night. What a sweet scene!†(Capote 259). And also, â€Å"I wouldn’t give a damn if this car caught fire and burned me alive†(Capote 188). Both these quotes appear while suffering severe shifts in emotions, which he could not control, thus proving his mental instability. After authorities caught the two, and while being questioned Smith stated, â€Å"It was part passion- a passion that was pathological,†meaning that he could not control himself (Capote 186). Small indications, such as these, allow readers to see deep into the psyche of Hickock and Smith, displaying disturbing images. Throughout unwarranted acts of anger and aggression, Hickock and Smith’s acknowledgement of their insanity, and the delusions and rants they experience directly correlation between their acts of horror and the deep psychosis they became trapped in late in their lives. This psychosis directly relates to why they did the terrible things they did, and why they didn’t think anything of it. This correlation becomes easily seen by allowing the reader to glance deep within the psyche of these two ruthless killers. Works Cited Capote, Truman. In Cold Blood. New York: Random House, 1966. Print. Conniff, Brian. Psychological Accidents: In Cold Blood and Ritual Sacrifice. The Midwest Quarterly: A Journal of Contemporary Thought 35.1 (Autumn 1993): 77-94. Rpt. in Twentieth-Century Literary Criticism. Ed. Thomas J. Schoenberg and Lawrence J. Trudeau. Vol. 164. Detroit: Gale, 2005. Literature Resources from Gale. Web. 8 Nov. 2011.
Sunday, October 13, 2019
The Story of an Hour Analysis
The Story of an Hour Analysis The short-story under consideration by Kate Chopin, the American short-story writer known for her works about strong women in terms of liberation debate, is entitled The Story of an Hour. Being the framing sign of the whole text, the title brings the text up to date, however, running through the entire plot it does not uncover the essence of the unpredictable situation the main character finds herself. It is a sign of prosecution and forms the expectations about what the story may deal with. a lot is hidden beyond the title but only having read the short-story it becomes clear that it describes an hour of true free life of a wife, Louise Mallard, who was dominated by her husband Brently Mallard and could break free from the imprisonment only after her husband had perished in a railroad disaster. The theme of the short-story is definitely connected with the future Liberation movement that was already on the way and promised the long-awaited equality. The analysis of the short-story under consideration is carried out in the light of the Lacanian structuralism who in his psychoanalysis reconceptualised Freud using post-structuralism. Kate Chopin enables readers to trace the widows mind working and the way it is influenced with sadness and joy. The readers distinctly feel the shift of tone in the narration as Mrs. Millard breaks through her conscious storm of grief that caught her immediately as she heard the news. Her first and adequate reaction of mind is weeping, Chopin says: she wept at once, with sudden, wild abandonment. Everyone knew that she suffered from a heart disease and were very careful and tender to do the least harm to her fragile heart. It seems that her oppressed will obeys the established system of society and she expresses her feelings structured by the desire and expectations of others, through the relay of her surroundings. The reason of that may lie in the fact that human-beings are social creatures and their desire also has social nature that is developed through culture and language, the former structured like the unconscious. But then she abruptly calms down and sits in her room enjoying the view from the window: The delicious breath of rain was in the airà ¢Ã¢â€š ¬Ã‚ ¦The notes of a distant song which some one was singing reached her faintly, and countless sparrows were twittering in the eaves. At the moment the sound consciousness that cannot help but feel regret about the perished husband makes the way for physical exhaustion that haunted her body and seemed to reach into her soul. Here Kate Chopin describing the unconscious through the symbols introduces readers the image of nature seen from out of the window of Louises room. The season itself, the springtime, symbolizing the new life the advantages of which she is still has not realized yet, and the window giving her the view of patches of blue sky, all this is definitely a new world that appears before Mrs. Mallard. The expression of the unconscious comes through symbols and readers see her motionless with her dull stare transformed into a gaze fixed away off yonder on the patches of sky symbolizing her future. She feels that something is approaching to posses her interrupting her bitter grief, that is the feeling of freedom that she never new before. And as according to Lacan, the unconscious is structured like a language, Louises eyes become keen and bright and she utters under the breath: Free, free, free! Louise did not cry herself to sleep as a child usually does, it was her unconscious desire to live a full life of beautiful images that lost its bright colors as her husband dominated her. Her conscious ego comes into clashes with her unconscious desire to gain freedom and live for herself. And the momentous joy that seizes her is the expression of her unconscious mind. Lacan substantiated the connections of binary oppositions that became central to structuralism. They can be noticed in the short-story as a system of interrelated signs that make up the whole. In the text under consideration the binary oppositions are male and female, joy and grief, love and self-assertion. The last opposition is ironically described by Kate Chopin, as the main character thinks that she loved her husband sometimes and adds that often she had not. She reasons what could love count for in the face of this possession of self-assertion that is a strong impulse for her to go on. She may have drawn a line to summarize what she lacked and longed for and realized that she deserves freedom and there would be no powerful will bending, no repression and restrictions imposed on her by the society of the time. Mrs. Mallard, though it is a kind of paradox, could feel so free and protected only after her husbands death and was joyously drinking in a very elixir of life through the open window. But the fate offers her another surprise bringing her husband alive and when he enters the house as nothing has happened her heart cannot bear the excitement and fails. Though no one of those present can guess the true cause of death, Louise dies of a heart attack as she instantly realizes that her hopes are broken against the shores of reality. Her family friends call it the joy that kills. Actually, she appeared to feel free only temporarily, but she was free only from the burden of marriage that repressed her, but the complete freedom is nothing but an illusion as it doubtfully exists. Viewing the short-story from the perspective of post-structuralism definitely has some drawbacks, as it propagates the ambivalence of meaning and upset link of the text and the real world. Rejecting the certainty of meaning it may result in thousands of free interpretations that put the readers on the wrong track. Therefore, analyzing the short-story in the light of structuralism is quite beneficial and helps to reveal through symbols the mental state of the main character with the unconscious dominating the conscious ego. It cannot help but catch the eye of the readers that Kate Chopin intentionally concentrates her narration on description of the mental state of the heroine and the signs that uncover it, paying little attention either to her appearance or to the interior and clothes. Structuralism developed by Lacan helps readers to have a good look through a magnifying glass of his postulates on the mental state of Mrs. Mallard and ponder over the reasons of her behavior concealed in the symbols. The short-story The Story of an Hour is of inspirational and though-provoking character that can hardly leave readers unmoved.
Saturday, October 12, 2019
Dombey and Son :: Free Essays Online
Dombey and Son Dealings with the Firm of Dombey and Son: Wholesale, Retail, and for Exportation Dombey and Son was Dickens’s seventh novel, and was written in 1848. Martin Chuzzlewit precedes it, and David Copperfield follows it. Even though most people are not too familiar with Dombey and Son, this novel was well received by its readers, and is considered to be the first novel that reflects Dickens’s artistic maturity (Schlicke, 280). The novel begins with the Dombey family, which is comprised of Fanny Dombey, her husband Paul Dombey, their little daughter Florence, and their newborn son Paul. Shortly after Paul’s birth, Fanny dies, and Mr. Dombey is forced to hire a nurse to take care of the children. Mr. Dombey sends little Paul to school so that he may be well educated and someday work at Dombey’s firm. Dombey does not view little Paul as a son or a loved one; rather, he views him exclusively as a business partner. While Dombey puts all of his energy into Paul, he neglects to love his daughter. She is of no value to him; therefore, he has no regard for her whatsoever. As a result of Dombey’s cold nature, Florence, and little Paul realize that they only have each other. The love between these two siblings is so great, and the bond they make is tight. Sadly, within the first 300 pages of the novel, little Paul becomes sick and dies. The rest of the story is focused on Mr. Dombey and his daughter. Florence constantly shows her father affection, but he constantly acts cold towards her. Dombey and Son explores relationships between business and private life, parent/child relationships, wealth and poverty, old and new, and male/female relationships. Dombey and Son was serialized in nineteen monthly parts that ran from October 1846 through April 1848 in London's The Graphic magazine. It was illustrated by Hablot Browne, and was published in one volume on April 12, 1848 by Bradbury and Evans (Page, Companion, 149). Dickens wrote Dombey and Son while residing in Switzerland and Paris. Supposedly, he was having trouble with Dombey during the first few stages, so he decided to relocate to Paris for some inspiration.
Friday, October 11, 2019
Strategic Management Process Paper Mgt 498
Strategic Management Process Paper MGT 498 January 24, 2013 The long-term performance of a corporation is mostly reliant on managerial decisions and actions, which include internal and external environmental scanning, strategic formulation and implementation, evaluation, and control. All of these characteristics are relatable to the concept of strategic management, which emphasizes â€Å"the monitoring and evaluating of external opportunities and threats in light of a corporation’s strengths and weaknesses†(Wheelen, 2010).The primary components of the strategic management process are environmental scanning, strategy formulation, strategy implementation, and evaluation and control. Environmental scanning is described to be â€Å" the monitoring, evaluating, and disseminating of information from the external and internal environments to key people within the corporation†(Wheelen, 2010). Environmental scanning is usually used to classify strategic influences that will control the future of the corporation.Strategy formulation is the act of developing long-term plans for the future of a corporation by using the corporation’s strengthens, and weaknesses, for the effective handling of environmental opportunities and threats. Strategy implementation is the putting in action of the strategies formulated by a corporation. Lastly, evaluation and control includes the monitoring of corporate activities and performance in order to compare the actual results, to the ones that are set as goals.Strategic management helps a company sustain long-term performance. For companies that do not practice strategic management, it is very hard to attain and to sustain long-term performance. Most companies when they have finally attained a high performance level will soon experience a decrease in their performance. Strategic management will help a company understand, and realize that the environment around them is constantly changing, and evolving.It also hel ps a company focus on the strategies that are important and beneficial, which altogether helps in building a better understanding of strategies in regards to the corporation. Transportation is known to be an essential tool when it comes to a business, but transportation companies such as British Airways is also corporation that uses strategic management to further its success. One strategy that is used by British Airways is the merging of other airlines into one. In 1935, airlines in Britain merged together and formed British Airways Ltd. and in 1974 other airlines were also combined and finally formed British Airways (Knight, 2008). The main point of merging was being able to access a larger market and establishing a means of long-term profitability. In regards to airlines, quality is a very important factor and it determines the success of an airline. New innovations, and changes are important factors in which British Airways demonstrated these factors by being the first airline t o operate weather-beating auto landings, offer jet passenger services and fully-flat beds (Knight, 2008).Lastly, British Airways in 2005 decided to work with Cisco and Prime in order to improve communications, in which the system allows all voice and data communications onto a single network while reducing costs and improving productivity. In conclusion, strategic management is an important method when it comes to improving a corporation’s well being. When making decisions all factors need to be taken under consideration.By using British Airways as an example, this paper was able to fully explain and establish the method of strategic management. Reference Knight, B. (2008, March 25). Strategic management of British Airways Company. Retrieved from http://bizcovering. com/business/strategic-management-of-british-airways-company/4/ Wheelen, T. L. , & Hunger, J. D. (2010). Concepts in strategic management and business policy: Achieving sustainability (12th ed. ). Upper Saddle Riv er, NJ: Pearson/Prentice Hall.
Thursday, October 10, 2019
New Heritage Company
NEW HERITAGE DOLL COMPANY Capital Budgeting NEW HERITAGE DOLL COMPANY Capital Budgeting Brief Case Brief Case Brief Case Brief Case Brief Case Brief Case Brief Case Brief Case To: CFO (New Heritage Doll Company) From: Date: 11/16/12 RE: NEW HERITAGE DOLL COMPANY To: CFO (New Heritage Doll Company) From: Date: 11/16/12 RE: NEW HERITAGE DOLL COMPANY Here a composite report is advanced on the toy industry, New Heritage Doll Company and the evaluation of its investment projects. Here a composite report is advanced on the toy industry, New Heritage Doll Company and the evaluation of its investment projects. Index Index | | 1. Introduction| 4| | | | | | 2. The Doll Industry| 6| | | | | | | 3. New Heritage Company| 9| | | | | | | 4. Capital Budgeting| 11| | | | | | | 5. Investment Proposals| 17| | | | | | | 6. Projects analysis| 20| | | | | | | 7. Election of one project| 26| | | | | | | 8. Exhibit. 1. Match My Doll Clothing| 32| | | | | | | 9. Exhibit. 2. Design Your Own Doll| 35| 1. Intro duction 1. Introduction â€â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€- â€â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€- 1. 1 New Heritage Doll Company: Capital budget In September 2010 Emily Harris was considering two proposals for investment for the company New Heritage Doll Company.As always, there are certain financial constraints that force the choice of a project and discard the other. The evaluation process for each project is hard, there are many details to consider, other data are not known with certainty and the only thing that can be done is an estimate as closely as possible. Our role here is to help interpret information, work with it, develop surveys and help clarify the dilemma so that the end result is the choice of the most suitable investment project for New Heritage Doll Company. Sport toys Sport toys 2. The doll industry 2. The doll industryNew Heritage has created a durable franchise for its line of heirloom dolls. New Heritage has created a durable franchise for its line of heirloom dolls. Revenue in the toy industry in the United States were 42 billion in 2008 and is expected to grow 4. 6% per year to reach 52. 5 billion in 2013 (graph 1). The market is divided into two broad segments: video games (48%) and traditional toys and games (52%) (Figure 2). The second segment is further divided into preschool toys (14. 5%), wrist (14. 1%), sports toys (12. 3%) and other toys and games (59. 1%) (Figure 3). Figure 2 Figure 2 Toys segmentsToys segments Figure 1 Figure 1 Sport toys Sport toys Figure 3 Figure 3 Traditional toys and games Traditional toys and games Preschool toys Preschool toys Sport toys Sport toys Other toys Other toys Dolls Dolls Sport toys Sport toys Sport toys Sport toys 3. New Heritage Company 3. New Heritage Company By the year 2009, New Heritage had grown to 450 em ployees and generated approximately $245 million of revenue and $27 million of operating profit. By the year 2009, New Heritage had grown to 450 employees and generated approximately $245 million of revenue and $27 million of operating profit. â€â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€ 3. 1 New Heritage Dolls The New Heritage Dolls Company was founded in 1985 by Ingrid Beckwith, a retired psychologist specializing in child development and the grandmother of two young girls. Figure 4 Figure 4 It sought to extend the New Heritage brand and capitalize on high levels of customer loyalty by selectively licensing the company’s doll characters and themes to a variety of media that reached the firm’s target demographic of toddler to pre-teen girls. New Heritage Dolls Production DivisionNew Heritage Dolls Production Division 4. Capital Budgeting 4. Capital Budgeting â€â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â ‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€- 4. 1 Capital budgeting Capital budgeting is the planning process used to determine whether an organization's long term investments such as new machinery, replacement machinery, new plants, new products, and research development projects are worth pursuing. It is budget for major capital, or investment, expenditures. â€â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€- 4. 2 Ranked Projects The real value of capital budgeting is to rank projects.Most organizations have many projects that could potentially be financially rewarding. Once it has been determined that a particular project has exceeded its hurdle, then it should be ranked against peer projects. The highest ranking projects should be implemented until the budgeted capital has been expended. â€â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢ €â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€- 4. 3 Need for capital budgeting 1. As large sum of money is involved which influences the profitability of the firm making capital budgeting an important task. 2.Long term investment once made cannot be reversed without significance loss of invested capital. The investment becomes sunk and mistakes, rather than being readily rectified, must often be born until the firm can be withdrawn through depreciation charges or liquidation. It influences the whole conduct of the business for the years to come. 3. Investment decision are the base on which the profit will be earned and probably measured through the return on the capital. A proper mix of capital investment is quite important to ensure adequate rate of return on investment, calling for the need of capital budgeting. 4.The implication of long term investment decisions are more extensive than those of short run decisions because of time factor involved, capital budgeting decisions are subject to the higher degree of risk and uncertainty than short run decision. â€â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€- 4. 4 Capital Budgeting at New heritage Doll Company Currently the capital budgeting process in New Heritage is conducted by a panel consisting of the CEO, the CFO, the COO, the controller and the division of presidents. Historically, capital budgeting was about 15% of Ebitda. Three formal methods are used in New Heritage capital budgeting: 1.Net Present value (NPV). 2. Payback period. 3. Internal rate of return (IRR). These methods use the incremental cash flows from each potential investment, or project. Under accrual accounting, revenues and expenses are reported based on accounting principles. This means that revenues are reported when they are earned, and expenses are matched to the periods of the revenue. In other words, revenues and expenses are not reported on the income statement when the money is received or spent. Further, the revenue and expense amounts are not adjusted for the time value of money because of the monetary unit assumption.Capital budgeting decisions should be based on cash flows that are adjusted for the time value of money. The time value of money recognizes that a dollar received or spent in the future is less valuable than a dollar received or spent in the present. Calculations such as the internal rate of return or net present value include adjustments for the time value of money. In these calculations present value factors, financial calculators, or computer software are used to discount the cash flows to their present values. â€â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€- 4. Incremental cash flows They are additional operating cash flows that an organization receives from taking on a new project. A positive incremental cash flow means that the company's cash flow will increase with the acceptance of the project. There are several components that must be identified when looking at incremental cash flows: the initial outlay, cash flows from taking on the project, terminal cost or value and the scale and timing of the project. A positive incremental cash flow is a good indication that an organization should spend some time and money investing in the project. â€â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€ 4. 6 Free cash flows A measure of financial performance calculated as operating cash flow minus capital expenditures. Free cash flow (FCF) represents the cash that a company is able to generate after laying out the money required to maintain or expand its asset base. Free cash flow is important because it allows a company to pursue opportunities that enhance shareholder value. Without cash, it's tough to develop new pro ducts, make acquisitions, pay dividends and reduce debt. FCF is calculated as:EBIT (1- Tax rate)| | | + Depreciation ; Amortization| – Change in Net Working Capital| – Capital Expenditures|  | Free Cash Flow| | | Where: Current assets| – Current liabilities| Net working capital| Where: Cash| | | + Accounts receivable| + Inventories| | Current assets| | It is important to note that negative free cash flow is not bad in itself. If free cash flow is negative, it could be a sign that a company is making large investments. If these investments earn a high return, the strategy has the potential to pay off in the long run. â€â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€ 4. 7 Sunk cost It is a cost that has already been incurred and thus cannot be recovered. A sunk cost differs from other, future costs that a business may face, such as inventory costs or R&D expenses, because it has alre ady happened. Sunk costs are independent of any event that may occur in the future. â€â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€- 4. 8 Opportunity cost It is the best return that could be earned on assets the firm already owns if those assets are not used for the new project.Now suppose the initial cost shown in each project was based on the assumption that the project would save money by using some equipment the company now owns and that equipment would be sold for certain amount of money, after taxes, if the project is rejected. The amount is an opportunity cost, and it should be reflected in our calculations. We would add that amount to the project's cost. The result would be an NPV- Asset value. â€â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€- 4. 9 Terminal value The terminal value of an asset is its anticipated valu e on a certain date in the future.It is used in multi-stage discounted cash flow analysis and the study of cash flow projections for a several-year period. The perpetuity growth model is used to identify ongoing free cash flows. The exit or terminal multiple approache assumes the asset will be sold at the end of a specified time period, helping investors evaluate risk/reward scenarios for the asset. An asset's terminal value is a projection that is useful in budget planning, and also in evaluating the potential gain of an investment over a specified time period. 5. Investment proposals 5. Investment proposals â€â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€- . 1 Match My Doll Clothing (MMDC) line expansion This line consisted of a set to match clothes for girls and dolls and some accessories. Due to the good publicity, it is thought to be a good time to expand this line. It is believed that this expansio n will be profitable because the current line is very popular and allows charging premium prices. This project involves the expenditure of large sums for research and development, market research and marketing. Table 1 Table 1 Initial expenditures ($ thousands)| 2010| Upfront R&D| $625 | Upfront Marketing| 625| Investment in Working Capital| 800|Property, Plant ; Equipment| 1,470| Total| $3,520 | The R;D and marketing expenditures would be deductible for tax purposes ta New Heritage’s 40% corporate tax rate. â€â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€- 5. 2 Design Your Own Doll (DYOD) Research suggested that many loyal customers would purchase yet another doll if they could customize the doll’s features to create a â€Å"one-of-a-kind†addition a girl’s or family’s existing collection of dolls. However, even a limited degree of customization increased manufacturing complexity and expense. Table 2 Table 2 Initial expenditures ($ thousands)| 2010| 2011|Upfront R;D| $841 | | Upfront Marketing| 360| | Investment in Working Capital| | 1,000| Property, Plant ; Equipment| 4,610| | Total| $5,811 | $1,000 | As with Match My Doll Clothing, the required R;D and marketing costs would be tax deductible. To complete development work, it is planned to use some of the company’s existing IT staff. The majority of the work would take place during calendar 2011. The number of people is shown in the table below. Table 3 Table 3 Application Development Personnel Costs| Number| Salary| Total| Web Application Developers| 1| $150 | $150 | Database Manager| 1| 160| 160|Systems Integration Specialist| 1| 125| 125| Total Cost| | | $435 | If this project stumbled for some reason, New Heritage risked damaging relationship with its best customers. 6. Projects analysis 6. Projects analysis For each project, three metrics are going to be calculated: 1. Net Present va lue (NPV). 2. Payback period. 3. Internal rate of return (IRR). â€â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€- 6. 1 Net Present Value (NPV) The difference between the present value of cash inflows and the present value of cash outflows. NPV is used in capital budgeting to analyze the profitability of an investment or project.NPV compares the value of a dollar today to the value of that same dollar in the future, taking inflation and returns into account. If the NPV of a prospective project is positive, it should be accepted. However, if NPV is negative, the project should probably be rejected because cash flows will also be negative. For example, if a retail clothing business wants to purchase an existing store, it would first estimate the future cash flows that store would generate, and then discount those cash flows into one lump-sum present value amount, say $565,000.If the owner of the store was w illing to sell his business for less than $565,000, the purchasing company would likely accept the offer as it presents a positive NPV investment. Conversely, if the owner would not sell for less than $565,000, the purchaser would not buy the store, as the investment would present a negative NPV at that time and would, therefore, reduce the overall value of the clothing company. â€â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€- 6. 2 Payback period The length of time required to recover the cost of an investment. The ayback period of a given investment or project is an important determinant of whether to undertake the position or project, as longer payback periods are typically not desirable for investment positions. â€â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€- 6. 3 Internal rate of return (IRR) The discount rate often us ed in capital budgeting that makes the net present value of all cash flows from a particular project equal to zero. Generally speaking, the higher a project's internal rate of return, the more desirable it is to undertake the project. As such, IRR can be used to rank several prospective projects a firm is considering.Assuming all other factors are equal among the various projects, the project with the highest IRR would probably be considered the best and undertaken first. â€â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€- 6. 4 How to work with working capital assumptions To know the value of current assets (cash, accounts receivable and inventories) and accounts payable a set of assumptions are given, with which we must work: 1. Cash Minimum Cash Balance as % of Sales. It is easy to know the amount of cash together by applying the percentage to sales revenue. 2. Days Sales OutstandingIn this case the data is provided are the days. Using the formula of Days Sales Outstanding, we can solve for the value of accounts receivable. DSO = Accounts receivableSales365 3. Days Payable Outstanding. In this case the data is provided are the days. Using the formula of Days Payable Outstanding, we can solve for the value of accounts payable. DPO = Accounts payableCost of sales365 â€â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€- â€â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€- 6. 5 Metrics results for both projects Clarifications: For the terminal value, it has been employed the following formula:Terminal value=FCF10 (1+G)(R-G) Where: * FCF10 is the free cash flow of year 10 (2020). * G is the growth rate. In this case a growth rate of 2% has been used, for New Heritage prefer more conservative forecasting. * R is the discount rate used. T hree different discount rates have been used depending on the level of risk is low, medium or high. â€â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€- 6. 6 Metrics for Match My Doll Clothing Line Expansion These are the results obtained from free cash flows provided by Match My Doll Clothing Line Expansion: Table 4 Table 4 RISK LEVEL| RATE| NPV| PAYBACK PERIOD| IRR|Low| 7. 70%| 7,285. 27| 7. 52| 23. 08%| Medium| 8. 40%| 5,938. 36| 7. 52| 22. 12%| High| 9%| 5,002. 43| 7. 52| 21. 40%| â€â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€- 6. 7 Metrics for Design Your Own Doll These are the results obtained from free cash flows provided by Design Your Own Doll project: Table 5 Table 5 RISK LEVEL| RATE| NPV| PAYBACK PERIOD| IRR| Low| 7. 70%| 9,219. 21| 9. 06| 18. 17%| Medium| 8. 40%| 7,010. 46| 9. 06| 17. 09%| High| 9%| 5,483. 73| 9. 0 6| 16. 29%| â€â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€- 6. 8 Other aspects to consider in capital Budgeting FlexibilityCapital budgeting techniques used by large businesses often run into flexibility problems. Many companies use a standard capital budgeting form where an analyst plugs numbers into specific categories to come up with net present value, cash flows, ROI and other basic results. However, not all costs and revenues from a project fit into such a fill-in sheet and can be difficult to classify. The best type of capital budgeting is the kind that can be customized for each project. Accuracy Capital budgeting depends largely on the quality of information that is used to for the budget analysis.This opens the process up to flaws if the incoming data is incorrect. For example, if someone underestimates a key cost, capital budgeting will show the project as less expensive than it will be. This is a common risk, and managers should always consider that the financial information behind the capital budgeting process is usually not 100 percent accurate. Benefit Type There are two general benefits associated with capital budgeting and projects. Hard benefits directly affect the project and loss statement and have easy, tangible results.There are also soft benefits, which are quantifiable but do not easily affect profit or loss directly. A third group, intangibles, is related to intellectual, emotional and environmental gains. Companies tend to only concentrate on hard benefits and forget that projects can produce other advantages as well. Emotions and Assumptions Capital budgeting is ultimately a tool that can help managers make decisions, not a process for making the decision itself. Managers are susceptible to energy behind a project and may support a project because it appears exciting or the end results are highly noticeable.Sometimes it is better to go with more boring, stable results that will keep the company strong than always moving for flashy projects. 7. Election of a project 7. Election of a project In the case of the Match My Doll Clothing, given the current economic situation and the inherent characteristics thereof, it seems most reasonable to choose the medium risk discount rate (8. 4%). At this rate, the following results are reached: Table 6 Table 6 RISK LEVEL| RATE| NPV| PAYBACK PERIOD| IRR| Medium| 8. 40%| 5,938. 36| 7. 52| 22. 12%|In the case of the Design Your Own Doll, as it has a fairly long payback, it has new unknown processes for New Heritage and because if the project fails the customer relationships will be damaged, it seems that it is more appropriate to assign the high risk discount rate (9%). At this rate, the following results are reached: Table 7 Table 7 RISK LEVEL| RATE| NPV| PAYBACK PERIOD| IRR| High| 9%| 5,483. 73| 9. 06| 16. 29%| Match My Doll Clothing Line Expansion and Design Your Own Doll are Mutually Exclusive P rojects which means that are a set of projects from which at most one will be accepted.For example, a set of projects which are to accomplish the same task. Thus, when choosing between â€Å"Mutually Exclusive Projects†more than one project may satisfy the Capital Budgeting criterion. However, only one, i. e. , the best project can be accepted. Of these three, Net Present Value, Payback Period and Internal Rate of Return, only the Net Present Value and Internal Rate of Return decision methods consider all of the project's cash flows and the Time Value of Money.And, only the Net Present Value decision method will always lead to the correct decision when choosing among Mutually Exclusive Projects. This is because the Net Present Value and Internal Rate of Return decision methods differ with respect to their Reinvestment Rate Assumptions. The Net Present Value decision method implicitly assumes that the project's cash flows can be reinvested at the firm's Cost of Capital, where as, the Internal Rate of Return decision method implicitly assumes that the cash flows can be reinvested at the projects IRR.Since each project is likely to have a different IRR, the assumption underlying the Net Present Value decision rule is more reasonable. Nevertheless, the NPV method has some disadvantages. One major disadvantage is that the method requires a detailed prediction of the project’s future cash flows. It is not that difficult if the project life is four years. But generally the life of a project is much longer. For example, computing the NPV for one these projects would require forecasting cash flows for the entire life of the project.This period could be 20 years, 30 years but we don’t know exactly how many and forecasting revenues for so many years is extremely difficult. A second disadvantage of the NPV method is that it assumes that the discount rate will remain the same over the life of the project. In many instances, the cost of capital, and the refore the discount rate, changes as firms refinance debt. â€â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€- 7. 1 Projects NPV Profiles The figure bellow presents the net present value profile (A graph showing the relationship between a project’s NPV and the firm’s cost of capital)For both Match My Doll Line Expansion and Design your Own Doll projects. To make the profile, we find the project's NPV at a number of different discount rates and then plot those values to create a graph. We can see that at a zero cost of capital, the NPV is simply the net total of the undiscounted cash flow. This value is plotted as the vertical axis intercept. It is also seen that the IRR is the discount rate that causes the NPV to equal zero, so the discount rate at which the profile line crosses the horizontal axis is the project's IRR.When we connect the data points, we have the NPV profile. IRRMMDC IRRMMDC NPV ($) NPV ($) Cost of capital (%) Cost of capital (%) IRRDYOD IRRDYOD DYOD DYOD Crossover rate; conflict if r is to the left, no conflict if r is to the right Crossover rate; conflict if r is to the left, no conflict if r is to the right At r = 10% NPVMMD > NPVDYOD but IRRDYOD > IRRMMD, so there is a conflict At r = 10% NPVMMD > NPVDYOD but IRRDYOD > IRRMMD, so there is a conflict MMDC MMDC The IRRs are fixed, and DYOD has the higher IRR regardless of the cost of capital. * However, the NPVs vary depending on the actual cost of capital. * The two NPV profile lines cross at the crossover rate that is the cost of capital at which the NPV profiles of two projects cross and, thus, at which the projects’ NPVs are equal. * MMDC project has the higher NPV if the cost of capital is less than the crossover rate, but DYOD has the higher NPV if the cost of capital is greater than that rate.Besides, MMD has the steeper slope, indicating that a given increase in the cost of capital caus es a larger decline in NPVMMDC than in NPVDYOD Finally, although MMDC is more sensitive to the variation of the discount rate, we think the most reasonable for New Heritage, as to these two investment proposals, is to choose Match My Doll Clothing Line Expansion for the following three reasons: * NPV is greater ($5,938. 36) than that of Design Your Own Doll ($5,483. 73). * The payback period is shorter (7. 2 years) than that of Design Your Doll (9. 06 years). Years Years * The IRR is greater (22. 12%) than the Design Your Own Doll (16. 09%). New Heritage Doll Company Exhibit 1. Cont New Heritage Doll Company Exhibit 1. Cont New Heritage Doll Company Exhibit 1. Cont New Heritage Doll Company Exhibit 1. Cont | | | | | | | | | | New Heritage Doll Company Exhibit 2. Cont New Heritage Doll Company Exhibit 2. Cont New Heritage Doll Company Exhibit 2. Cont New Heritage Doll Company Exhibit 2. Cont
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