Capital budget

Introduction:In a recession, irrespective of where they work in your organisation, and apprehension of fiscal constructs to assist you make your occupation better and lend to the community ‘s attempts to remain in concern and go on to harvest the net incomes. And the concentration of companies are now more than of all time, the Numberss of those who are seeking to remain afloat, and you can go financially faster read and write and get down to lend to the negotiations on the bottom line, the faster will be able to assist the squad. Support is the scientific discipline of money direction. Areas of public finance, corporate finance and personal finance ( financing from the private sector ) , and public finance. This includes funding and salvage money and frequently include borrowing money. The field of fiscal minutess with the constructs of clip and money, hazard, and how they were connected. It besides looks at how to pass the money and the budget. One of the facets of support through persons and concerns, that money is deposited in the bank. Then the bank lends money to other persons or companies for the intent of ingestion or investing and involvement costs on loans. Loans have become progressively packaged for resale, which means that the investor purchases the loan ( debt ) from a bank or straight from the company. Chemical bonds and debt instruments sold to investors for organisations such as authoritiess, companies or charities. The investor can so press on the debt and cod involvement or sell the debt on the secondary market. The chief Bankss and agents for funding through the proviso of recognition, although private equity, investing financess, hedge financess, and other organisations are the importance of puting in assorted signifiers of faith. Managed fiscal assets, known as investings, with a focal point on fiscal hazard direction to command fiscal hazards. Fiscal instruments are traded that allows many signifiers of asset-backed securities in the securities markets, and stock exchanges, including debt such as bonds and portions in listed companies. Cardinal Bankss, such as Bankss, Federal Reserve System of the United States and the Bank of England in the United Kingdom, are strong participants in the field of public fundss, the loaner of last resort, every bit good as the strong influence of pecuniary and recognition conditions in the economic system.Capital budgetAnd capital outgo is passing money for the undertaking which is expected to bring forth hard currency flow for a period transcending one twelvemonth. Examples of undertakings include investings in belongings, works and equipment, research and development, and big advertisement runs, or any other undertaking requires capital outgo and generates a watercourse of future hard currency flows. Because the capital outgos could be rather big and have a important impact on the fiscal public presentation of the company, given great importance to the choice of undertakings. This procedure is called capital budgeting.Standards for capital budgeting determinationsPotentially, a broad scope of standards for the choice of undertakings. Some stockholders may be the company to place undertakings that demonstrate extremums immediate hard currency flow, and others may desire to stress the long-run growing with small importance on public presentation in the short term. Viewed in this manner, it would be really hard to run into the diverse involvements of all stockholders. Fortunately, there is a solution. The company ‘s end is to maximise current stockholder value. This end requires that the undertakings should be undertaken that lead to positive net nowadays value, ie the present value of expected hard currency flows, and net present value of capital disbursement required. Using the net nowadays value ( NPV ) as a step of the capital budget involves placing undertakings that increase the value of the company, because they have a positive net nowadays value. The timing and rate of growing of hard currency flows from the of import merely to the extent of their impact on the net present value. Using the net present value as the criterion by which to place undertakings presumed efficiency of capital markets so that the company has entree to all that is required capital undertakings to follow up positive net nowadays value. In instances where this is non the instance, there may be capital rationing and capital budgeting procedure becomes more complicated. Note that it is the duty of the company to make up one's mind whether to delight a certain group of stockholders who prefer more or less long-run consequences. Once the company had chosen these undertakings to maximise the net nowadays value, and it is up to single stockholders to utilize capital markets to borrow or impart in order to travel the exact day of the month of the hard currency flows of the forward or backward. This basic thought in chief agent relationship exists between stockholders and directors. Despite all the picks may be single, and the common end is to maximise the present value of the company.Alternate regulations for the capital budgetWhile the net present value is the regulation that maximizes value for stockholders, ever, and some companies use other standards to make up one's mind on the capital budget, such as:internal rate of return on ego )Profitability indexPayback periodBack to Book ValueIn some instances, investing determinations originating from the in ternal rate of return and profitableness index methods agree with those of the net present value. Decisions taken by the recovery period and return on book value methods are normally non optimum from the point of view of the value of portions to the maximal extent.Pay periodWhat is the sizeHow long does it take to retrieve the financess invested in the undertaking. Why is it of import On a consecutive line method, recovery period is the easiest manner to find the potency of investing in a big undertaking. The direction expressed in a timely mode, and will take several months or old ages to retrieve the initial cost of the undertaking hard currency consideration is ever critical, peculiarly for directors to measure undertakings at one clip. This appraisal becomes even more of import if you include the consideration of what the present value of grosss in the hereafter will be. How does it work in pattern Amortization period is the right expression is as follows: Payback period = cost of the undertaking ‘s one-year hard currency grosss & A ; divide ; Therefore, if a undertaking costs $ 100,000 and would bring forth $ 28,000 per twelvemonth, the payback period is: 100000 & A ; divide ; 28000 = 3.57 old ages If the expected grosss generated by the undertaking to change from twelvemonth to twelvemonth, every bit good as the jutting income for each twelvemonth up to an extra sum cost of the undertaking. For illustration, say that the expected grosss generated by the undertaking is $ 100,000YearGrossEntire1$ 19,000$ 19,0002$ 25,000$ 44,0003$ 30,000$ 74,0004$ 30,000$ 104,0005$ 30,000$ 134,000Therefore, the undertaking will be to the full paid for in 4 old ages, because in that twelvemonth that the entire income reaches the initial cost of $ 100,000. Complicated the image when you enter the clip value of money rule in the computations. Some experts insist this is necessary to find the recovery period more accurately. Consequently, should be used in the present value tabular arraies, or the computing machine ( now the norm ) , and should be discounted one-year income in the rate of involvement applied, and 10 % in this illustration. In this manner, give consequences significantly different:YearGrossPresent valueEntire1$ 19,000$ 17,271$ 17,2712$ 25,000$ 20,650$ 37,9213$ 30,000$ 22,530$ 60,4514$ 30,000$ 20,490$ 80,9415$ 30,000$ 18,630$ 99,571This method indicates that the recovery will non happen until after five old ages.Tricks of the tradeObviously, a major defect of the consecutive line recovery period is that it ignores the rule of clip value of money, which, in bend, can ensue in unrealistic outlooks.The 2nd drawback is that it ignores the benefits produced after a period of ingestion and, accordingly, a undertaking which has a million U.S. dollars will come back after, say, six old ages and can be classified as less of a undertaking with the recovery of three old ages which returns merely 100 thousand dollars at a ulterior clip.Another option to cipher the amortisation period is the position of internal rate of return.In most of the experiments and undertakings with shorter recovery times superior to those with more of the net incomes, even if that promise higher returns. Can be affected by factors such as the refund periods of market alterations, alterations in involvement rates, and economic transmutations. Cash dividend shorter besides enable companies to retrieve the initial investing and set to work elsewhere.In general, the recovery period for a period of three old ages or less desirable, if the period of recovery of the undertaking is less than a twelvemonth, and some believe that it should be considered to be indispensable.Internal rate of returnInternal rate of return ( IRR ) is a joint rating m etric used by fiscal analysts to cipher and measure the fiscal attraction / feasibleness undertakings or capital-intensive investings. The internal rate of return is normally easier to understand the consequence of the discounted hard currency flow analysis ( Internet Explorer, the net present value or net present value ) for directors of non-financial, is frequently used to explicate and warrant investing determinations ; Although the modeller good fiscal know that the internal rate of return is after all an estimated, particularly when calculated in Excel, and should be used in combination with other fiscal parametric quantities such as net present value and rating multiples compared to when the issue of supplying employment or investing. What precisely is the internal rate of return? The internal rate of return is the involvement rate that makes net present value of all hard currency flows equal to zero. In footings of fiscal analysis, and could be called the internal rate of return price reduction rate at which the current value of a series of investing peers the present value of investings. All undertakings or investings with an internal rate of return that is calculated in the procedure of fiscal mold to be superior to the leaden mean cost of capital should be ( or WACC ) is a financially feasible and technically acceptable. When taking between undertakings or investings where the benefits or services are wholly independent of each other in the modeller good fiscal should be considered in the undertaking or investing, harmonizing to the highest internal rate of return is calculated to be financially attractive, every bit long as we continue to maintain in head that it is non must be of the value of internal rate of return greater than WACC.Net nowadays valueI plan to compose the net present value of a small ‘After discoursing how to cipher the discounted hard currency flows and net nowadays value to cipher the value of this site. Not since I wrote about the fiscal at the minute, I thought that there may be a good alteration of gait. When we calculate the discounted hard currency flows, in kernel what we are seeking to make is cipher the value of all future hard currency flows at a certain clip, frequently more at this clip. As mentioned above, in order to make this, you need to cognize or expected future hard currency flows in each period, as happened in the head price reduction rate that reflects the earnestness of this undertaking or the events that led to hard currency flow. One manner to find if the undertaking is approved or non is to look at the net nowadays value ( NPV ) . High-level discounted hard currency flow cyberspace present value are really similar. Based on net present value to compare the present value of hard currency flows to hard currency flows, and cipher every individual can go complex depending on how the company is ( or borrowing unleveraged ) , to do a determination on what to include or except, and can interact with the revenue enhancement to acquire the wordss. Therefore, to simplify this treatment on the internal rate of return, and I use the experiences in the fiscal histories net present value of the grounds.PRESENT VALUEPresent value refers to today ‘s value of a future sum.Present Value Formula:S P = — — — — — — ( 1+rt )Alternatively of get downing with the principal which is invested, you could get down from what you want to roll up in the hereafter, and so work rearward to see the sum that you must put to make the needed sum.CALCULATING PRESENT VALUEFor illustration, if you wish to retire within a certain figure of old ages you can get down working in contrary to find what sum must be invested today to roll up the coveted sum at the clip of your retirement in the hereafter.ExampleAssume you need $ 20,000 in three old ages for a down payment on a house. If the simple involvement rate is 5 % , how much would you hold to put today to roll up the $ 20,000 in three old ages? In this illustration: S= $ 20,000 ( sum of adulthood value ) T = 3 old ages R = 0.05 The computation for chief is: Second P = — — — — — ( 1+rt ) $ 20,000 P = — — — — — — – [ 1 + ( 0.05 ) 3 ] $ 20,000 P = — — — — — — – 1.15 P = $ 17,391.30 Therefore, if you invest $ 17,391.30 today at 5 % simple involvement, you will hold $ 20,000 in three old ages.Let ‘s look into it out:nterest per twelvemonth = $ 17,391.30 x 0.05 = $ 869.57 Interest for three old ages = $ 869.57 x 3 = $ 2,608.70 Therefore, the sum available for down payment at the terminal of three old ages is $ 17.391.30 + $ 2,608.70 = $ 20,000Alternatively of 5 % simple involvement, see 5 % compound involvement collectible biyearly:Formula to be used: P = S ( 1+i ) ^-n S = 20,000 I = 0.05 / 2 = 0.025 n = 2 x 3 = 6 P = $ 20,000 ( 1+0.025 ) ^-6 = $ 20,000 ( 1.025 ) ^-6 = $ 20,000 x 1 — — — — – ( 1.025 ) ^6 = $ 20,000 / 1.16 = $ 17,241.38Let ‘s look into it out utilizing the compound involvement expression:S = P ( 1 + I ) ^n = $ 17,241.38 ( 1 + 0.025 ) ^6 = $ 17,241.38 ( 1.025 ) ^6 = $ 17,241.38 x 1.16 = $ 20,000

Barack Obama`S Speech Analysis

INTRODUCTION The aim of this paper is to examine the strategies of President Barack Obama, and its ideological component, also why Barack Obama use exact words and how strong is the influence. The topic has been studied before by Juraj Horvath (2010),Jana Langrova(2010) and Junling Wang(2010). Therefore, the goal of the conducted research paper is to find out which of the political are used more often in the speech of Barack Obama, and what does it mean. The enabling objectives to get the research goal are the following: ) To read and analyze the secondary sources on the research topic 2) To collect the empirical data 3) To implement the necessary research method 4) To create a table, showing the most frequent terms. The hypothesis is that convinced political terms are used more often in the speech of Barack Obama than other terms. The research methods of research applied in the study: Library research: the study of the secondary sources on the research theme. Quantitative empirical research method: corpus-based quantitative research.The main research method applied in the study was quantitative frequency analysis. Chapter 1 is devoted to the secondary sources analysis on the research topic. Chapter 2 explains the research methodology applied in the study. Chapter 3 presents the research results and discussion on finding. Appendix contains the table presenting the most frequently used terms. Analysis of Secondary Sources (The Literature Review) Chapter I presents the literature connected with analysis of Barack Obama`s speeches.The power and influence of Barack Obama speeches are discussed in this text; also his expressed ideology and its manipulations are mentioned then. Opinions and thoughts of Juraj Horvath â€Å"Critical Discourse Analysis of Obama`s Political Discourse† and Jana Langrova â€Å"Ideology in Obama`s Prague Speech in the Mirror of Discourse Analysis† (2010) are presented and compared in Chapter I. Juraj Horvath used quantitative method to write his analysis, and when he counted all the words, what he were interested in, he expressed the ideas, which are very remarkable. †¦Ã¢â‚¬ new†, which characterizes the strategy and ideas of the newly sworn president and his administration†, this extract is about Barack Obama`s often used word â€Å"new†. Juraj Horvath`s opinion about the use of this word is very interesting. He considers that the fact of using the word â€Å"new†, so often as Barack Obama does, shows his ideological aspects and promptitude for the innovations. Jana Langrova looked for the rhyme, speed and phonetic features of Barack Obama`s speech, but her conclusion and thoughts are very similair to Juraj Horvath.Jana Langrova considered that his speech employs rhyme, repetition and stress. He also stresses the word â€Å"new† in his speeches very often, and Jana Langrova noticed it. â€Å"There is new energy to harness, new jobs to be created, new schools to b uilt†¦Ã¢â‚¬ ,-these are Barack Obama`s words which were analyzed by two people. To summarize, Chapter I deals with the secondary sources concerned with previous analysis of the speeches of Barack Obama. Methodology This Chapter II will deal with the methodology used in this research.First the research method will be presented and then the research procedure will be described step by step. There are many methods to analyze the text, but theme of chosen paper will be analyzed by quantitative method. Quantitative research is used generally in social sciences such as political science. Qualitative methods construct information just on the particular cases studied, and any more main conclusions are only hypotheses. Quantitative methods may be used to verify, which hypotheses are true.Advocates of quantitative methods dispute that only by use of such methods can the social sciences become truly scientific, also advocates of qualitative methods argue that quantitative methods tend to obscure the reality of the public phenomena under the study, because they abandon the non-measurable issues, which could be the most valuable. In this paper the author was used to gather quantitative data —to deal with information connected with numbers and anything that is measurable. Statistics, tables and graphs will be presented as the results of these methods in appendix.The following chapter will be devoted to giving the results. Findings and Discussion The world of linguistics has been affected he and stimulated by Barack Obama`s individuality. Many new words have been created. Obamania, is linking with the passion and obsession he has been accepted and favored by many. Barack Obama`s ideology and philosophy have been referred to as one of the most confusing and difficult ideologies to analyze. In the speech of Barack Obama the strong religious content ideas can be found, for example: 1) â€Å"Thank you. God bless you.And God bless the United States of America. † 2) â€Å"This is the source of our confidence – the knowledge that God calls on us to shape an uncertain destiny. † 3) â€Å"†¦on the horizon and God’s grase upon us, we carried forth that great gift of freedom and delivered it safely to future generations. † 4) â€Å"†¦the God – given promise that all are equal, all are free and all deserve a chance to pursue their full measure of happiness. † That fact that he also uses the direct and indirect speeches from Bible can all help Barack Obama to win the supporting of audience.The fact, which was very interesting to find out was that Barack Obama uses the words â€Å"we†, â€Å"Americans†, â€Å"each of us†, â€Å"all†, â€Å"our† very often to his speech(1), and from the psychological point of view it is made to create a close relationship between the president an his honorable audience. ( From Barack Obama`s inaugural speech quantitative analysi s) In order to arrive at a more quantitative result of this analysis, a keyword analysis of the most frequently used words and nuances in Obama`s speech gave the following findings.His speech consisted of 2403 words, and the pronoun â€Å"we† – was repeated 62 times. It was the most frequently used word by Barack Obama,for example: 1) â€Å"†¦we must work together†¦Ã¢â‚¬  2) â€Å"†¦we are bound by shared values†¦Ã¢â‚¬  3) â€Å"†¦we will seek to include all nuclear weapons†¦Ã¢â‚¬  4) â€Å"†¦we believe†¦Ã¢â‚¬  5) â€Å"†¦we cannot succeed†¦Ã¢â‚¬  6) â€Å"†¦we know the path†¦Ã¢â‚¬  7) â€Å"†¦we have to insist†¦Ã¢â‚¬  Also it is important to mention that it was very interesting to found that Barack Obama uses biblical language and quotations, non-traditional speech, and his position shows his liberal stand of him, what could be found in each speech of Barack Obama.Finally, the most imp ortant part, what I have found in his speeches is that Obama want to create a new nation which will be free from the war or other bad influence, and also he tries to get away from the old partisan divisions and looks for to be perceived as being above ideology. His thoughts and ideology about the better future without any bad elements in it show the hidden meaning of his ideas and promisses, which is logically followed from his ideas – â€Å"new† is always better, and for him the best nation is new = free nation.

English Literature - High school 1 Essay Example | Topics and Well Written Essays - 8000 words

English Literature - High school 1 - Essay Example However, the latter’s love for hunting has surpassed one’s expectations. General Zaroff’s unique hunting style has made him very selfish, egotistic, and inhumane: †¦Ã¢â‚¬ Every day I hunt, and I never grow bored now, for I have a quarry with which I can match my wits.† The aforementioned internal conflicts are somehow in contrast with how General Zaroff poised himself from the beginning up to the end of the story. He showed no remorse feelings or sign of conscience with what he has been doing. Always the hunter but never the prey, the General’s character is unique of its kind. As a young boy, his selfishness and inhumanness grew day by day as he was able to hone his marksmanship, mercilessly killing all animals that come in harm’s way. By being egotistic (or narcissistic), he never valued life, much less human life. And knowing that he is a gifted hunter, he never showed importance to anyone; thus everyone and everything within his eye s ight is disposable – like his pack of dogs and his loyal servant Ivan. These internal conflicts are put to an end when, with great pride from General Zaroff, he is defeated by Rainsford: â€Å"The general made one of his deepest bows. â€Å"I see,† he said. â€Å"Splendid! One of us is to furnish a repast for the hounds. The other will sleep in this very excellent bed. On guard, Rainsford. . . .† Unlike General Zaroff, Sanger Rainsford shows compassion for hunting. He condones cold-blooded murder and value human life. But because he is a prisoner of General Zaroff, Rainsford became fearful, angry, and indignant. He is fearful for his life, knowing that his existence on the island is ticking day in and out. He is also angry with the hunting style of General Zaroff, as mentioned in the story: â€Å"Rainsford did not want to believe what his reason told him was true, but the truth was as evident as the sun that had by now pushed through the morning mists. The gen eral was playing with him! The general was saving him for another day's sport! The Cossack was the cat; he was the mouse. Then it was that Rainsford knew the full meaning of terror.† And because he never knew how it was to become the prey, Rainsford is indignant with the General’s treatment of him – being a mouse trapped in an island of terror. Through his quick wit and vast experience in hunting, Rainsford is able to resolve these internal conflicts by defeating General Zaroff: â€Å"He had never slept in a better bed, Rainsford decided.† 2. Setting provides much more than just the backdrop for the action of a story. In addition to giving the time and place, setting establishes the atmosphere/mood and influences the characters. Setting also affects readers emotions, for example, a story set in a dank and foul dungeon instantly lowers our sprits. Choose one of the short stories from the list below and analyze how the story's setting contributes to the stor y and affects the reader (be sure to indicate which story you chose). The short story â€Å"Thank You, M'am† by Langston Hughes is set late in the evening, along the dark, dimly-lit streets of an unnamed city. The streets are already quiet, with very few people and automobiles pass by. It seems that the neighborhood has been quite tired from the day’s work. It wants to rest from all the shouting and blowing of horns during its waking hours. And like its setting, the story’s main character, Mrs. Luella Bates Washington Jones, is also tired, almost dragging herself to walk by the streets. She is carrying her purse like she was

Judicial Precedents Essay Example | Topics and Well Written Essays - 1250 words

Judicial Precedents - Essay Example However, this is not binding on cases of Federal Courts, or by Courts of other States or country. The principle of stare decisis can be split into two parts. The first is the rule that a decision made by a higher court is a binding precedent, which a lower court cannot overrule. The second dictum is that a court should not upset its own precedents unless there is valid reason to do so. This needs to be motivated by principles from similar and lower courts. Under English legal system, judges are not justified to make their own decisions about the development, or interpretations of law. They may, or may not be held by a ruling made in a previous case. Two facts are important in finding out whether a precedent is binding: One of the main disadvantages of the use of precedents is that there is no mental exercise on the part of judiciary and it may not do the best brand of justice that could be rendered in a specific case. When a jury takes a decision based on previous case ruling, it has not exercised its own discretionary and discriminative powers, and, in a way has just copied its predecessor by way of issue of legal judgment. Whether there are sufficient reasons to believe that both the cases are similar for a common ruling is another matter, to be tried by the Court of Appeal or any other competent legal body. Precedent has a very important role in the common law. It ensures firmness, uniformity, logical sequence and expansion of the law. At the same time, it can be rigid and complex - what is "the law" on a subject may be very difficult to find or to state as it is often spread across many cases with varying degrees of intricacies. The law is also easier to find and state and is rationally prospective rather than based on the chance event of litigation, which may give rise to laws based on extreme or unusual situations, or erratically argued cases. Precedent is dependent upon written record of cases: Precede means that the judges have to place before consideration before granting verdict, the full accounts of the case history and other relating matters to the subject. Therefore, it could be argued that, in the absence of such matters and documents, the order of precedent may not be established. The second dictum is that a court should not upset its own precedents therefore, records are a sine quo non, which must be present to enforce legal pronouncements. Necessary documentary evidence may be needed before precedents could be established. Before the concept of precedent lays down previous similar decision, it

INNOVATING Essay Example | Topics and Well Written Essays - 2500 words

INNOVATING - Essay Example Thinking about innovation in terms of technology is not enough but the innovation process includes the organization’s finance consideration, competitive positioning, marketing, training, relationship of organization with the supplier and customer and between processes and products.TYPES OF INNOVATION MODELS There are two types of innovation model; one is normative and the second is a descriptive model. Normative model of innovation is helpful in the construction of developed and designed organizations and deliver ideas, guidelines in order to increase capacity of originality. . The nature of this model is prescriptive which means it provides alternative solutions and suggestions to problems and questions. It analyzes the situation and helps to answer what procedures should be applied according to the standards. Descriptive model or constructivist model is Intuitive in nature; go over the main individualities and processes that have been observed regarding innovation and this model explains the association among observed characteristics. at el 2000 and von Hippel, 1988). Descriptive model does not evaluate the solutions and used to measure performances and changes. It is based on emotions, experiences, opinions and knowledge of individuals (Robbins, & Coulter, 1997). 2 Technological Determinism: This perspective discusses how human evaluations get influenced through Technological determinism. Innovations have been taken place in all aspects of human life, and technological innovation provided a boost to all industries. Veblen â€Å"tTechnology is an agent of social change and it in his view technology has the ability to mould the behaviors, society and interaction. Technology is an independent factor. The most admirable example of technology is the internet which has made the connections a lot easier than ever. Because of this innovation business can be

Importance of Food Safety in Restaurants Research Paper

Importance of Food Safety in Restaurants - Research Paper Example Restaurant owners and managers should benchmark the famous example of Ray Kroc, the founder of McDonald when he canceled the license of a franchise restraint when he saw a fly. Such was his commitment to cleanliness and food safety. All restaurants should make food safety and cleanliness an integral part of their mission statements, rules and regulations and should also incorporate them into their training programs. Benefits: A good training program protects the customers from any harmful effects and so in the process, it protects the business venture. Trained employees will not just ensure food safety and cleanliness but they will also be efficient and productive. Apart from protecting the customers a good training also safeguards the health and safety of employees. Employee training also ensures their motivation and loyalty because training makes them feel that they are involved in the bigger picture. A training program also makes employees more customers driven. The point that should be of emphasis is that training should not be considered a short term solution. It should be considered a policy of continuous improvement and an ongoing process. So the new standards and techniques should be taught all the time to employees. Organizations should keep in touch with national and local organizations and authorities that specialize in food and restaurant safety and training programs. Last but not least is the fact that a good training program is a great tool to reinforce in customers a feeling that the organization cares about them and the environment they provide to them. This, in fact, is crucial in building long term relationships with them.

Marketing of Art Products Assignment Example | Topics and Well Written Essays - 1500 words

Marketing of Art Products - Assignment Example This analysis focuses on the various aspects of arts marketing and evaluates whether the different conduits for arts sales could be considered as efficient in their sales and marketing approach. The sales outlets for marketing of art products largely depend on direct consumers, festival or exhibition visitors and also on sponsors. Olkonnen et al (2000) argue that there is little or no academic interest or research studies on the phenomenon of commercial sponsorship on arts, sports and media events. Sponsorship as a study of marketing management is largely defined by marketing mix and mass communication and Olkonnen et al claim that sponsorship could be better defined by applying the approach towards networking and interaction. Networking in marketing of arts focuses on understanding the dynamics of sponsorship as a method of networks and relationships and also interpersonal communication rather than sponsorship as a measure of effects on the audience or consumers. The art festival is one of the major marketing tools through which a large number of art enthusiasts could be assembled to focus on both the academic and the commercial aspects of art. Waterman (1998) writes that despite the prominence and ubiquity of such art festivals these festivals have not been studied or researched to an appropriate degree. These art festivals serve as a platform for new artists and also from a social perspective transform places and settings into environments thriving with the production and processing ad even consumption of the very essence of culture which seem to be available within a specific location. The way a particular culture in manifested and projected becomes very obvious in festivals and festivals play a major role in highlighting cultural aspects of art apart from being a major conduit for the sale and marketing of arts. Waterman (1998) goes a bit further in discussion the implications of these festivals and suggests that support for arts is a pro cess used by elites to distance themselves from the other classes of society. Thus being a patron of arts marks out someone as member of refined or higher social class. However the changing nature of festivals is obvious as from being traditionally innovative and being controlled by artistic directors, these festivals are now increasingly controlled by marketing managers and agencies who have been transforming arts into an industry with a strong potential for marketing and attracting consumers at a large scale. Arts festivals are now seen as serving the dual purpose of marketing the arts products as also advertising the place in which such festivals are held and thus tend to attract sponsors and agencies that have many different marketing approaches and motivations. Waterman (1998) suggests that the concept of festival for arts and economics may be related to tensions between culture and cultural politics. Direct marketing of art objects is one of the more traditional and common ways of marketing and selling art products. Arnold and Tapp (2003) suggest that direct marketing is being increasingly used by non profit organisations to reach consumers, raise sales and revenues and improve long term consumer relationships. In case of selling of arts

Food Applications Research Paper Example | Topics and Well Written Essays - 1500 words

Food Applications - Research Paper Example A customer or user who wishes to make the best use of this great app should create an account. All the necessary payment details are stored permanently, and the customer has to merely provide the mailing information for placing an order (Poeana, 2014). With a nine year history, Eat24 Order Food Delivery & Takeout has achieved considerable popularity. Alexa has ranked it as 62,339 in the world, and it has classified its services as average at 2.071 seconds (JudgeSpot, 2014). Strengths The Eat24 Order Food Delivery & Takeout App can be used for locating restaurants in the vicinity of the customer. In addition, the user can search through the different types of restaurants and examine the various dishes on offer. Moreover, the user of this app has the option of viewing only those restaurants that are open at that time (Poeana, 2014). Furthermore, it is possible to filter the options and obtain a list of restaurants that accept or offer coupons. It is also possible to categorize the search results on the basis of delivery fee, distance, order type, or cuisine. In fact, the use can search for a specific menu item or restaurant. He can also explore the ratings, exhaustive menus, and then arrive at a decision regarding the food item to order (Poeana, 2014). Another facility provided by this app is the presence of the cart mechanism. When the user comes across a menu item that is to his liking, he can add it to the cart, and after completing the selection of food items, the user can view the contents of the cart.

The SWOT Analysis of Beyond Product Essay Example | Topics and Well Written Essays - 1000 words

The SWOT Analysis of Beyond Product - Essay Example The Beyond company has a significant strength from the Peter, who is a vital shareholder and has experience in the business. The participation of Peter in the business plan completion helped him to win the competition that provides knowledge he used to formulate business the strategy that helps in achieving their objectives of introducing the snowboards in the market. His partner who had complementary financial and accounting skills also helped in the product and business plan development. The Italian and Belgian engineering companies and the significant chemical company motivated Peter to develop hybrid binding with positive features that proved that the market was ready for a new product. However, the company faced severe challenges in product development and marketing strategies because it was costly, and the company was limited to financing methods. Meanwhile, lack of assurance to the inventors due to slow product development of the product in the market caused Peter to lose the only partner, who was supporting the company financially. The beyond product has a significant opportunity of achieving its mission to provide a range of high-quality products by allowing business angels to invest their equity of pounds 300,000. Meanwhile, the company will encounter potential threats from generating the interest of importers at the ISPO fair because the sales would be much lower than expected that will jeopardize the future of the company. The snowboarding is the quickest growing sport in the United State with the average growth rate of 11.4 percent that will offer Peter a sizeable market opportunity for its products. Meanwhile, there are seventeen million snowboarders active globally that account for every one-third of the total winter sports population, and since the peter product is designed for this purpose it will benefit from these buyers.

Can Jeffrey Sachs End Global Poverty Research Paper

Can Jeffrey Sachs End Global Poverty - Research Paper Example Global poverty is an issue faced by many nations and should be tackled with some of the recommendations that Jeffrey Sachs gives. 2. The policies of economic growth laid down by Jeffrey Sachs can prove to be beneficial if implemented by the richer nations. 3. The United States has a great role to play in eradicating the issue of global poverty from the world. 4. Yes, the U.S should promote global growth by providing the poor nations with the necessary financial aid. 5. Africa is suffering from extreme poverty and U.S should take a stance on tackling the issue of poverty there through which the threats of terrorism can also be decreased. Cons 1. No, the option of economic growth is not the only solution for global poverty prevailing in this world. 2. Along with economic growth it is also necessary that corruption and malice is eradicated from the governments. 3. No, the U.S alone cannot make much of a difference in eradicating the issue of global poverty from this world because of the role that the home government plays. 4. No, financial aid is not the only solution for the eradication and it should be backed by other reforms. Can Jeffrey Sachs End Global Poverty? The debates about poverty and its consequences are getting increasing attention from the authorities, law regulators, politicians, social welfare organizations, policymakers and the public at large. The reasons behind such importance given to the issues of poverty are the unhealthy, inconsistent and unwelcoming consequences of poverty. These consequences affect all areas from the social, psychological, mental and physical health to access quality food, shelter and other basic necessities for people’s lives. Poverty has turned out to be a global issue affecting a great part of the population living in this world. Jeffrey Sachs is a well qualified professor who has classified poverty into three major classes. He believes that individuals either live in extreme poverty, moderate poverty or relative poverty. Sachs put forwards that in the past 25 years economic growth has been witnessed all around the world but this economic growth has not been significant enough to eradicate poverty even from the developed nations. He believes that a balanced economic growth is necessary to eradicate poverty from the world. He has put several points which according to him are necessary to be implemented so that the global poverty can be ended. A question here arises though as to â€Å"if Jeffrey Sachs can end global poverty or not?†1 From the 1990s it has been seen that the role of international financial institutions have increased in the global politics. These IFIs are responsible on aiding the poor nations with money which they have to use for economic growth. This economic growth can help in eradicating the roots of poverty. Sachs believes that the rich nations have a special role to play in helping to cut off the roots of poverty. The richest countries of the world like United Sta tes can allocate 0.7% of their budget to the poorer nations so that they can prosper and make economic growth. Currently the United States only spends 0.15% in the aid which should be increased by cutting down the defence budgets2. He believes that the country who is participating for a change should make sure that the transformation is really occurring. Lack of commitment by the richer countries can become a hurdle to the progress of economic growth. His emphasis on commitment by the richer nations can be seen in these words â€Å"‘The U.S. lack of support for Bolivia was appalling’.3 Jeffrey Sachs blames the United States for the continuing global poverty in this world. He cites that the war against terrorism launched by the United States is a complete failure and can be tackled in other ways too. According to him the issue of terrorism can be tackled if the interest of US was shifted towards international relations rather than on military advancement. The roots of t errorism can be cut out by economic growth and by helping a poor nation to progress the war against

“Successful African-American mathematics students” Essay Example for Free

â€Å"Successful African-American mathematics students† Essay â€Å"Successful African-American Mathematics Students in Academically Unacceptable High Schools† is author Peter A. Sheppard IV’s dissertation for his Degree of Doctor of Philosophy in Science and Mathematics Education. And although there have been numerous studies already conducted on successful African-Americans, as revealed by Sheppard’s Review of Literature, not much has been made regarding the accountability aspect of the No Child Left behind Act (NCLB) 2001 (where states are required to publicly identify low-performing schools) and its influence on students. Hence, Sheppard sought to explore the relation between academically unacceptable schools – which, as defined by the NCLB 2001, refer to schools that got a School Performance Score of 44. 9 or below – and the existence of quite a number of African-American math students in such seemingly negatively labeled academic institutions. Completed on May 2005, Sheppard’s article posed two primary and four secondary research questions. The main questions that the study aimed to address are: 1) Why are successful African-American mathematics students (with â€Å"successful student† defined as someone who scored ‘Advanced’ or ‘Mastery’ on the math portion of Louisiana’s Graduate Exit Exam or GEE) able to thrive in academically unacceptable schools? 2) Why have these successful African-American math students chosen to stay in academically unacceptable schools despite being given an option to transfer to a better-performing school? In an attempt to answer the above questions, Sheppard (2005) also hopes to stumble upon answers to the following sub-questions: 1) Is the negative school designation, academically unacceptable, an appropriate description of the schools in this study? 2) What is the role of the teacher in the achievement of successful math students in state-recognized poor schools? 3) What is the role of the school-based leader (principal) in the achievement of successful math students in state-recognized poor schools? 4) To what extent do peers affect the achievement of successful math students in state-recognized poor schools? Sheppard made it clear that his paper was in no way an attempt to generalize the situation of all African-American students in all academically unacceptable schools. In fact, the answers he’ll be deriving at will be applicable only to â€Å"a small non-probability, purposeful sample† that is limited to the eleven successful African-American math students who studied in either Lake High School or River High School and who participated in the study (Sheppard, 2005). It is for this reason that Sheppard approached his study with a qualitative design. Since Sheppard was attacking his research qualitatively, the theoretical construct used is not that well-defined. The use of a theory in a qualitative study is, after all, not as clear as its use in quantitative researches. John Creswell (1994) explains, â€Å"In a qualitative study, one does not begin with a theory to test or verify. Instead, consistent with the inductive model of thinking, a theory may emerge during the data collection and analysis phase of the research†¦. † But even with an undefined theoretical construct, it may be safe to assume that Sheppard was proceeding with the research under the same theoretical constructs that other researchers mentioned in the Review of Literature were using: that despite an â€Å"ominous set of troubling conditions† provided by family life, peers, society, and – as applicable with the study at hand – a negative label on the schools they attend, African-Americans are able to overcome the challenges and become academically successful thanks to â€Å"support from teachers, parental academic engagement, self-discipline, self efficacy, and positive peer influence† (Sheppard, 2005). To arrive at a conclusion, Sheppard attempted to answer his research questions via what he called data triangulation, where he â€Å"[brings] more than one source of data to bear a single point†. And his sources of data were tape-recorded interviews with the 11 successful African-American students and principals and math teachers from the two participant schools plus a 10-item open-ended survey that the 11 students had to complete. Conducting tape-recorded interviews indeed worked to Sheppard’s advantage as it allowed him to keep the original data and â€Å"preserve the words of the respondents† (Sheppard, 2005). Conducting one hour semi-structured interviews with each of the principals and teachers allowed Sheppard to make use of one of the advantages of the said data collection type, which is that it gave him control over the line of questioning (Creswell, 1994). Same thing goes with his interviews with the students. However, the interview with the students posed one limitation: since they were conducted in a group setting, the presence of other interviewees may have biased the responses. In fact, it should be noted that 5 of the 11 students interviewed were either reserved or brief in responding. Sheppard did use another data collection type to verify the students’ answers during the group interviews. But for a study that is openly outlined as qualitative in nature – Sheppard himself wrote so a couple of times throughout the paper – it was surprising that the second method used was the open-ended survey. It is a common fact that survey – open- or close-ended – is a method associated with the qualitative procedure (Burns and Bush, 2005; Creswell, 1994; Qualitative research). I believe that it would have been wiser for Sheppard to have stuck with the methods he applied during his pilot study, which were group and individual interviews. This is not only to make sure that he stays parallel with a qualitative design but also because a face-to-face interview achieves something that a written survey can never hope to do so – and that is allowing the researcher room to ask for additional information (Burns and Bush, 2005). Surveys, even those with open-ended questions, allows for respondents to provide incomplete answers that a researcher will have a hard time clarifying; with face-to-face interviews, though, it will be easy for the interviewer to throw in a follow-up question and let the respondent elaborate on his/her answers (Burns and Bush, 2005; Creswell, 1994). Besides, the methods in the pilot study has already proven successful as two of the participants who were reluctant during the group interviews answered more openly during the individual session, thus making the group-individual interviews seem like a smarter path to tread. It is also worth noting that the use of open-ended and semi-structured questionnaires was indeed a good move on Sheppard’s part because it allowed him to collect information in the participants’ own words and these kinds of questionnaires elicit complete answers (it is just up to Sheppard to probe further). And although the information collection with these types of questionnaires are difficult to code and interpret (Burns and Bush, 2005), Sheppard was able to go about it with member checking, where he asked the participants to review and edit the transcripts. Sheppard’s methodology was, arguably, effective in arriving at a satisfactory conclusion. But in my honest opinion, there would have been a better way of approaching the research to ensure that the result he’d arrive at will be more ‘trustworthy’. But his study, â€Å"Successful African-American Mathematics Students in Academically Unacceptable High Schools†, although not applying a methodology I would personally have preferred is indeed a good starting to point to further exploring relationships between successful African-American math students and academically unacceptable high schools. REFERENCES Boeree, C. George. (1998). Being Aware Of Your Biases. Qualitative Methods Workbook. Retrieved August 23, 2007, from http://webspace. ship. edu/cgboer/qualmethfour. html. Burns, Alvin and Ronald Bush. (2005). Marketing Research (5th ed). Europe: Pearson Education. Creswell, John W. (1994). Research Design: Qualitative Quantitative Approaches. California: Sage Publications. Northern Arizona University. (1999). Interviewing in Qualitative Research. Qualitative Research. Retrieved August 23, 2007, from http://jan. ucc. nau. edu/~mid/edr725/class/interviewing/. Qualitative research. (2007, August 19). In Wikipedia, The Free Encyclopedia. Retrieved August 23, 2007, from http://en. wikipedia. org/wiki/Qualitative_research. Quantitative research. (2007, July 25). In Wikipedia, The Free Encyclopedia. Retrieved August 23, 2007, from http://en. wikipedia. org/wiki/Quantitative_research. Sheppard, Peter IV. (2005 May). Successful African-American Mathematics Students in Academically Unacceptable High Schools [Electronic version]. ERIC. Retrieved August 23, 2007, from http://www. eric. ed. gov/ERICWebPortal/contentdelivery/servlet/ERICServlet? accno=ED489992.

New Communication Structure Essay Example for Free

New Communication Structure Essay Communication is important in every aspect of our lives. This is also true for the communication used in our professional lives. When at work we â€Å"depend on cooperation with others to accomplish our goals, and communication is the critical human process we use to promote such cooperation.† (Kreps, 2011; sec. 1.1) Understanding communication is the best way to make sure it is being used effectively correctly. When communication is effective then organizational components will run smoother and efficiently. Smoother and effective communication means that an organization has a greater chance of following its mission and achieving its goals. Successful communication can be as important to organizational productivity as any other component used. There are five concepts that are important for successful communication within an organizational setting and this proposal will discuss their necessity in an organization. Culture is something that needs to be recognized and aware of when we are communicating with everyone. It is also important in organizational communication. Organizational culture includes the norms and attitudes of the organization. To support clear and effective communication in an organization the employees must be pay close attention the organizational culture. The process of socialization will also help an employee to adapt to an organization’s culture. The process of socialization is where, â€Å"established members of cultural groups educate others and enforce adherence to established cultural rules or norms for appropriate behavior.† (Kreps, 2011; pg. 17) In understanding the norms in an organization communication will be smoother because there will be less chance for misunderstandings. An example of organizational culture would be the style of dress in the office. If an organization is one where the employees dress in suits and formal business wear then an employee who came to work in shorts and a t-shirt would affect  the culture in a negative way. Those communicating with those employees could become uncomforta ble, or distracted. This may result in avoiding communication with this employee and over all communication will breakdown. Avoidance of communication with only one employee is enough to cause a gap in efficiency. The book â€Å"Communications in Organizations† explains, â€Å"Strategic organizational communicators initiate and develop strong, effective, and satisfying relationships with others to promote cooperation and coordination in organizational life.† (Kreps, 2011; pg. 15) Understanding the organizational culture also builds trust and respect among employees which in turn brings higher production. Paying attention to organizational culture helps to build the relational communication to support effective communication. Part of an organization’s culture is the forms of communication used. Informal and formal communications are two types of communication that play an important role in an organization. The difference in both forms of communication can be explained as â€Å"Formal patterns of organizational communication follow the power hierarchy within organizations, whereas informal patterns of communication do not necessarily follow along power hierarchy lines† (Kreps, 2011; sec. 1.5) Formal communication is used to address important job related material. Paying close attention when receiving or using formal communication will stop an employee from making a mistake and will also give them the information to be successful. However, when filtering through formal communications such as emails it is important to avoid information overload. Information overload takes place when, â€Å"so many different messages are impinging on a person that the person has difficulty making sense of all the information available.† (Kreps, 2011; pg. 174) Scanning email for the most important and relative messages is a skill that is necessary but recognizing formal emails for their importance will ensure that the information involved will be received. In understanding the nuances of informal communication an employee can avoid getting themselves in trouble by offending a supervisor or missing important information. In regards to organizational communication conflict resolution can be the difference in success or failure when working with others to meet company goals. Conflict is inevitable, and happens when people communicate. It can come from assumptions, miscommunications, or one way communication. The good news is conflict can be turned into a positive thing. A quote in  the book, says An Introduction to Leadership, that, â€Å"The most important single ingredient in the formula of success is knowing how to get along with people.† (Weis, 2011, pg 2) Working through conflicts can build better communication skills, as well as trust and understanding. In using conflict resolution steps new and better ideas can be generated for the organizations. A gentleman named Mr. Tim Scudder wrote a book in which he describes five steps to conflict resolution. An interview he gave he made the point that in conflict â€Å"both parties want the same thing.† (Scudder, 2011) He also stressed the importance of anticipating conflict. By anticipating conflict an employee will take time to think, and in thinking they will realize that the person they may have a conflict with wants the same thing. This puts the employee in a positive frame of mind and helps to come to a reasonable solution for both involved. In the article â€Å"How to Deal with Annoying Co-Workers† gives a suggestion to help in dealing with co-workers. It suggests that, â€Å"With most types of annoying co-workers, the solution is simply to be straightforward and assertive.† (Green, 2011) Working through a conflict helps co-workers to come to a better understanding of each other. When people understand and respect each other communication is smoother and more effective. Once again, smoother and effective communication benefits the organization. Formal communication, informal communication, and conflict resolution involve two parties. Each of these communications involves a time where another party receives information. In face to face communication active listening is a technique that will ensure that messages are received correctly and will allow the listener to formulate the best response. Active Listening is not only an important part of conflict resolution but communication as a whole. Active listening means, â€Å"being fully engaged in paying attention to your relational partner’s communication with you. It is not just hearing skills. It involves paying close attention to your partner’s verbal and nonverbal behaviors.† (Kreps, 2011; sec. 4.3) In other words, it’s a way of showing respect for those you are communicating with. It sounds as simple as just listening but it’s not that simple. It takes a conscious effort to begin with before it becomes habit. If you are fully engaged in what your partner is communicating then you will get all of the information being sent. It may also evoke the norm of reciprocity which will have your partner giving you  their full attention. The norm of reciprocity is, â€Å"the urge to act in-kind that often encourages these relational partners to provide you with information and treat you similarly to the way you treat them.† (Kreps, 2011; pg. 15) The importance to an organization of its members practicing active listening is participants receive all the information that is coming to them. This means that they have all they would need to know to complete their jobs successfully and meet organizational goals. Organizations have both formal and informal leaders. Formal leaders typically are ‘assigned their positions of authority within the organizational hierarchy and hold titles such as president, vice president, division leader, and manager.† (Kreps, 2011; pg. 19) Informal leaders are little harder to define by position or tile but â€Å"emerge with organizational life based on credibility (usually a combination of charisma, dynamism, expertise, and trustworthiness), ability to accomplish complex tasks, and access to relevant information.† (Kreps, 2011; pg. 19) Even if you are not a formal leader you can still have influence over others as an informal leader. Informal leaders are not defined by title but by quality of character. Understanding leadership strategies and what being a leader entails helps to motivate workers to meet organizational goals. It is important for organizational leaders be able to communicate in different ways for different situations. There are several different leadership strategies that can be employed for different situations. To understand leadership strategies it’s important to think about how leaders may see those under them. Douglas McGregor used X and Y models of leadership to explain the relationship between leaders and followers. Theory X makes the assumption about workers they do not like work and will do anything to avoid it. This model will make leaders be more directed because they think that is what workers prefer and need. McGregor’s Theory Y assumes that workers do not dislike work and will work hard if they feel the value of their effort. The Theory Y suggests that if workers are given a degree of autonomy and a chance to use their imaginations they will strive to be successful in their tasks. Depending on how leaders see workers can dictate their leadership strategies. One of three helpful leadership styles is the autocratic leadership style. This is a leadership style that would come from a leader who is a believer in Theory X. An autocratic leader â€Å"makes most  organizational decisions without consulting with others. The leader calls all the shots, tells workers what to do and how to do it.† (Kreps, 2011; sec 7.6) This type of leadership style would have little use for upward communication from those who follow. Upward communication is, â€Å"communication that travels up the power hierarchy.† (Kreps, 2011; pg. 10) This would be difficult for a leader who believes in Theory X because, â€Å"upward communication enables workers to express their concerns and ideas, to provide and ask for feedback, and seek clarification from managers.† (Kreps, 2011; pg. 10) The autocratic leadership style is best suited not for driving workers but in emergency situation where there is little time for collaboration. Organizational participants would appreciate a direct approach in times of pressure. On the opposing side of autocratic leadership is democratic leadership style. When using the democratic leadership style you, â€Å"share responsibility and involve other organizational participants in decision making, although the process for the final decision may vary from the leader having the final say to them facilitating consensus in the group.† (Kreps, 2011; sec. 7.6) This type of leadership style is something that followers respond positively to. It also bolsters the leader’s position because the workers feel a â€Å"buy in† to the process. This is something that Theory Y talks about. The ability of helping the workers feel that their efforts and work are valued, and helping them to see the value. The drawback to this type of style is that it is time consuming, and can lead to conflict if not used correctly and in the right situation. Lastly, there is the laissez-faire leadership style. The laissez-faire leadership style would have the leader, â€Å"share power with workers and delegate decision-making authority to those individuals who are directly involved in the decision-making situations.† (Kreps, 2011; sec. 7.6) This leadership style could be considered an extension of the democratic leadership style. In using this style it is important for a leader to know the capabilities of those under them. The employees under this leader must be experienced and skilled in the tasks that they are being given a degree of control over. This type of leadership style will help a leader delegate those things they have little time for. Delegation is an important skill. In the article â€Å"A Tool Kit for the Real World† it says that, â€Å"Business people don’t get accolades for being smart, but for being effective. That is measured in  things like increased sales, increased earnings and an increased number of licensing agreements. Not, alas, by the fruition of one employee’s great idea.† (Motluk, 2011) However, this should not be used as a way of having others do their work for them. This would be damaging to the leader and certainly the organization in that it can bring a degree of disorganization that would be extremely difficult to correct. The leadership strategies above are mentioned because they show the need for a leader to be able to decipher the right strategy for the right situation. Each has one distinctive way to deal with leading and each has its drawbacks when used outside of its best application. Therefore the situational model of leadership may be the best strategy when it comes to leadership. The situational model of leadership is, â€Å"based on the assumption that there is no right way of leading. Rather, the best leaders adapt to the unique situational constraints to exhibit the appropriate leadership style for the situation.† (Kreps, 2011; sec. 7.6) A leader must be able to analyze situations, those involved, the choices, and the preferred outcome. If it’s an emergency and little time involved then use the autocratic leadership style. When time is available to employ upward communication, and bolster workers self esteem and organizational value a leader should employ democratic leadership style. If a leader is feeling overwhelmed or they are feeling pulled in too many directions, perhaps a laissez-faire leadership style might help to delegate tasks to that can handle them. Understanding leadership strategies helps to use communications with workers that will work best in certain situations. The most important thing about communication in the work place is awareness. As the book â€Å"Communications in Organizations† points out, â€Å"Organizations and the way they communicate play critical roles in our lives.† (Kreps, 2011; pg. 25) The key to effective communication is awareness. All of the five concepts of organizational communication mentioned above have some type of awareness piece built in. Communication is smoothest when those communicating are aware of those they are communicating with, their culture, and their style of communication. Thinking before speaking, anticipating change and conflict, and knowing what actions to take will help a leader communicate effectively with workers. After presenting the five concepts for successful communication within an organizational setting above it is clear to see their necessity for  successful communication. References Kreps, G. (2011). Communications in Organizations. San Diego: Bridgepoint Education, Inc. Green, A. (2011, January 6). How to Deal With Annoying Co-Workers. Retrieved from http://money.usnews.com/money/blogs/outside-voices-careers/2011/06/06/how-to-deal-with-annoying-co-workers Motluk, A.(2011) A Tool Kit for the Real World. Retrieved from http://www.newscientist.com/article/dn19969-a-tool-kit-for-the-real-world.html?full=true (2011). Tim Scudder Interview. Retrieved from http://www.youtube.com/watch?v=P_E7YVkjJQ0 Weiss, J. (2011). An Introduction to Leadership. San Diego, Bridgepoint Education, Inc.

The relevance of various management theory schools of thought

The relevance of various management theory schools of thought This essay will identify the predominant and diverse schools of thought encapsulated within management theory and their relevance or lack thereof, or appropriateness of application within todays organisations. Four separate methodologies shall be addressed, the classical school, the school of human relations, and both systems and contingency theory. The Classical theory of management was born of the scientific age (Wren, 1995, p5). Taking account of this theory in the present age, a classical approach can offer structured management with purpose, drive and clear, understandable hierarchy (Cole, 2004, p4). Scientific management, with exponents such as Owen, Babbage and later Taylor and Gantt (Pindur et al, 1995, pp61-62) were concerned with observation and experience to seek greater efficiency for expanding industry; viewing workers as cogs in a machine and as another resource to be organised (Morgan, 1997, p38). General administrative managements focus was on the running of the whole organisation (Pindur et al, 1995, p62). Fayol looked in more detail at the role of manager and purported five functions: planning, organising, commanding, coordinating and controlling (Fells, 2000, p346). Bureaucracy, with the main advocate Weber, took a theoretical view seeking to understand power and authority (Mullins, 1996, p46; Pugh and Hickson, 2007, p5). Weber sought clear hierarchy advocating recruitment and promotion due to merit. [With] standardization across the organisation; no matter who was in post (HÃ ¶pfl, 2006, pp10-11). Although still relevant today as a tool to offer clear direction, (Lamond, 2005, p1279) classical theory has been heavily criticized for being too prescriptive, limiting individual thought, creativity and flexibility of the organisation (Morgan, 1997, pp30-33; Mullins, 1996, pp41-46). It was thought not to look beyond the individual organisation to its wider context. (Mullins, 1996, p52). Contrastingly, the human relations (HR) theory of management sometimes referred to as human behaviour school, leadership or behavioural sciences approach, considers and prioritises people as part of the management role. The exponents of this school lean heavily towards psychology and social studies believing people should understand people (Koontz, 1961, p178). In the 1920s an awareness of the impact of social factors within the workplace grew and behaviour and performance of employees became a focus for study (Mullins, 1996). Mary Parker Follett wrote about individual and group behaviour within organisations (Wolfgang et al, 1995). She contentiously believed that authority was rooted in a position and not with a person, causing much dispute and debate (Clegg et al, 2005; Mandeville, 1960). Arguably HR theory originated with the Hawthorne Studies conducted from 1920s and 1930s (Grey, 2005). Ironically the origins of the studies can be linked to the scientific approach however they became inextricably linked with Elton Mayo and showed productivity increased often when not expected. Mayo identified ,when people felt valued production could rise (Clegg et al, 2005). Whilst methods used and accuracy of data is disputed the results opened minds and encouraged debate on topics such as leadership, motivation and informal groups within organisations and so the neo-human relations approach developed with Maslow and his understanding of peoples needs entering the arena of theories (Mullins, 1996). The HR approach can help provide solutions to problems such as absenteeism, staff turnover and production quality brought about by strict scientific approaches. However some may view the approach as an unwelcome intrusion; leaving no demarcation between private and work life (Grey, 2005). People are the key ingredient to the HR theory but we should not set aside that, structure and rules are undoubtedly required in the mix. Accepting that Systems theory attempts to reconcile the classical and human relations approaches, this may then potentially provide the ideal management theory. But does such an ideal really exist? Exploring further, Systems theory focuses on the elements of organization, in terms of their interaction with external environment. Attention is focused on the total work organisation and the interrelationships of structure and behaviour, and the range of variables within the organisation (Mullins, 2000). The belief is that all employees work harmoniously through sharing common goals. The Systems approach to management began in 19th century, and Ludwig von Bertalanffy made great contributions in developing it. There are two basic types of systems; closed and open; and one of the key concepts of von Bertalanffys theory mentioned that open systems responded to their environments through exchanged information, energy or material (Kast and Rosenweig, 1972). The open systems model contains human relations as well as organisation development (Pindur et al, 1995). Closed systems [on the other hand] are self-contained and do not interact with their environment (Cole, 2004). Some classical theories, like Taylors scientific management, Webers bureaucratic theory and Gulicks administrative management can be classified to the closed system model (Pindur et al, 1995). Limitations within the Systems theory did exist though, and whilst the approach fostered both technical and social variables viewing organisations as a whole; alterations to one aspect directly affected the other part. The changing nature of the work environment, the increasing demands for flexibility and concerns with the contextual factors influencing structure have drawn attention to the contingency approach to organisational design (Mullins, 2000, p564). Diversity is no longer just the right thing to do; it has become a business imperative and perhaps the single most important factor of the twenty-first century for organization performance (Wheeler, 2005, s1-s7; Daft, 2008, p420). Observed as a development of the Systems approach, the contingency theory goes a stage further in relating the environment, and other variables, to specific structures of organisation. [It] takes the view that there is no one best, universal structure (Mullins, 2000, p564), [or] universal principles that can be used for every situation, but instead [it] seeks to explain how one attribute or characteristic depends upon another (Vecchio, 2000,p338). The contingency approach can be seen as a form of if-then matrix relationship (Luthans, 1985); [it] draws attention to the situational factors; emphasis[ing] the need for flexibility (Mullins, 2000, p564). There is a multitude of possibilities and the best or preferred choice will be contingent on the situation being analysed (Hunt, 1992, p170). Criticisms or doubts about the contingency approach and its practical value to management have been voiced. According to Robey (1982, p59), modern contingency theory provides an increasing amount of empirical research; defin[ing] variables ignored in earlier work. However, the contingency approach runs the risk of concluding that it all depends on everything. Indeed, Vecchio (2000, pp.11-12) simply summarises the contingency approach in two words. It depends. Whatever the criticisms and limitations of contingency models, the application of modern contingency theory can help contribute to more effective performance(Mullins, 2002, p578) so can we deduce that whilst possibly overly flexible in its make-up, the contingency approach is however within practice, a suitably acceptable management theory? Conclusion In conclusion it would appear that it is not only management theory that is disparate; the multiplicity of variables affecting the everyday running of organisations, also provides immense organisational diversity. Management theory and practice in implementation are inextricably linked which ensures that no holistic theory of management can be developed. Many paradigms have been created within an historical context where necessity for change has been encountered. Theoretical management and its functions are therefore viewed as evolutionary. Classical theory, whilst used today appears limited in application. Human Relations theory is still useful when applied in terms of an organisations social dimension. A unitarist Systems theory whilst initially popular was overtaken by a more necessary flexible approach to management, gleaned from Contingency theory. This perspective took a pluralist view of organisations. Organisations vary in terms of groups of individuals, industry type, structure, culture and objectives, making management differ within each entity. The trajectory of management theory, as time has progressed has added to the management debate and provided structure in which there is near agreement within groupings of schools who disagree vehemently as to the thinking of their adversaries. Because of managements diversity we are of the thinking that there is no one solution that will remedy or enhance all situations. (Word Count: 1319 words)

Government Regulation of Video Game Violence is Unconstitutional and Un

â€Å"Breaking news tonight at 11, three students dead, several wounded after manic depressed teen lashes out with a handgun†¦Ã¢â‚¬  Americans serve witness in recent decades to this scary yet familiar occurrence. The cause of this familiar scene is minors suffering from social disorders and aggression. The major focus of blame is the entertainment industry including television, movies, books, and recently video games. The state of California decided to address the concern of video game violence by passing a law banning minors from purchasing games that are considered â€Å"violent†. However, the law is unconstitutional and unnecessary. The law is simple: any game that humanoid characters are maimed, killed, or tortured is considered violent. Labels that clearly state 18 must be placed on all games falling under this definition. The law requires that any individual purchasing a game in this category must provide proof of age. Additionally, retailers must obtain proof of age before selling the game or face fines. The law’s purpose is to protect minors from games that contain violence. Unfortunately, the California law ignores the Constitution. The First Amendment covers minors’ rights to obtain video games, because the games enjoy the same protections granted to other forms of protected speech. Carmen Hoyme (2004), notes in the First Amendment Law Review that since video games share properties that other protected media forms have, the same protections are extended to video games and restrictions affecting minors' access are allowable due to incitement (pp. 318-385). Holning Lau (2007), writing in the Harvard Civil Rights-Civil Liberties Law Review, explains that minors have the right to obtain expressions protected by the First A... ...Freedom of expression and interactive media: video games and the first amendment. University of North Carolina School of Law First Amendment Law Review, 2(377), 377-402. Retrieved September 22, 2014 www.lexis.com Lau, H. (2007). Pluralism: a principle for children’s rights. Harvard Civil Rights-Civil Liberties Law Review, 42(317), 317-372. Retrieved September 22, 2014 www.lexis.com O'Holleran, J. (2010). Student note: blood code: the history and future of video game censorship. Journal on Telecommunications & High Technology Law, 8, 571-612. Retrieved September 22, 2014 www.lexis.com Wood, R. (2009). Violent video games: more ink spilled than blood - an analysis of the 9th circuit decision in video software dealers association v. schwarzenegger. Texas Review of Entertainment and Sports Law, 10, 103-121. Retrieved September 22, 2014 www.lexis.com

Diets :: essays research papers

Fish Sandwich. Small French Fries. 3 pcs. of Fudge. 12oz. Hi-C Punch. Daily (multi vitamin, B-complex, 1000m C, and Tyrosine). Big Mac (no sauce). Small Fri. Ravioli. 3 Strawberries. 12oz. Hi-C. 12oz. Orange juice. 6oz. Apple Juice. Dailies. 1 Banana. I Muffin. Chicken-Helper (2srv). Caesar Salad (Lg). Peeled Carrots. Cake (2pc). 44oz. Water. 12oz. Orange Juice. Dailies. 1 Banana. 4oz. Broiled Haddock.1 bowl Fish-Chowder. 10 Saltines. Peeled Carrots. 12oz. Orange Juice. 4oz. Apple Juice. 4oz. Coffee. 12oz. Water. 8oz. Cocoa. Dailies. 4oz. Red Rose Wine. 1 Banana. 1 Muffin. Sweet-N-Sour Chicken. Pork Fried Brown Rice. 1 Egg Roll. 12oz Orange juice. 24oz Water. Dailies. 1 bowl Raisin Bran. 1sl. Pepperoni Pizza. I bowl Fish-Chowder. 8oz. Yogurt. 6oz. Lite-Cheddar Cheese. 2doz. Ritz Crackers. 4oz. Orange Juice.12oz. De-Caff Pepsi. 24oz. Water. Dailies. 8oz. Yogurt. 2 bowl Chicken-Helper. 24oz. Water. 6oz. De-caf Pepsi. Popcorn. 3 Cookies. 8 oz. Ginger–Ale. Dailies. 8oz De-caff Coffee. 8oz Orange Juice. 12oz. Water. 8oz. Apple Juice. 1/2doz. Strawberries 2oz. Lite-Cheddar Cheese & Wheat-Thins. 3sl. Pepperoni Pizza. Dailies. Use fat-free dressing. Avoid salt and fries, and get more fluids. Exercise/Activity low. Sick day. Exercise/Activity Low. (prescription for Amoxil). Cr/Country Skiing. (Insomnia). E/A Moderate. Lightly Active. E/A Low. More exercise. E/A Low. More exercise. E/A Moderate. 1.5 hrs. Ice Skating. Lightly Active. More exercise. E/A Low. More exercise. 29.5/190. 29.5/190. 29.5/187. 29.13/186. 29.13/186. 29.5/187. 29.5/187. 29.5/187. 15. 18.  Ã‚  Ã‚  Ã‚  Ã‚   20. 15. 16. 20. 20 20 9hrs. 8hrs. 8hrs. 8hrs. 8hrs. 10hrs. 9hrs. 8hrs. 8oz. Orange Juice. 8oz. Yogurt. 4oz.Coffie. 12oz. Ginger Ale. 3sl. Pizza. 12 Strawberries. Dailies. 3 Waffles w/ Lite Syrup. 3oz Skim Milk. 2.68oz. Blueberry Oatmeal. 12oz. Orange Juice. 8oz. Sprite. 8 Fish Sticks. Tater Tots. 1 banana. Dailies. 3 eggs 1/4lb. Ham. Baked Beans. 2sl. Toast. 2 Hash browns. Double Cheeseburger.12oz. Diet-Decaf Pepsi. Potato Chips. Dailies. Steak & Egg on Bagel. 1 Hash brown. 8oz. Orange Juice. 24oz Coffee. 2 Meatballs. Ziti Pasta. Tomato Sauce. Salad W/Oil. 1 Donut. @pc. Chicken. Cole Slaw. Mashed Potatoes w/ Gravy. Cheeseburger. Potato Chips. 8oz. Coffee. 8oz Orange Juice. 24oz. Water. Dailies. 12oz. Orange Juice. 3oz. Haddock. Mashed Potatoes. Peeled Carrots. 8oz. Decaf Orange Soda. 2 Grilled Cheese Sandwiches. Dailies. 12oz. De-caf Orange Soda. 1 Frozen Pizza. Fish Sandwich. Small French Fries. 12oz. Hi-C Punch. 10oz. Broiled Haddock. 1 Baked Potato. Caesar Salad w/ Parmesan. 16oz. Water. 4 White Cherry Cordials. Dailies. 4oz. Coffee. Caesar Salad. 1 Cheese Bread-Stick. Egg and Cheese Sandwich. 1 Bwl. Product 19 Cereal. 16oz. Water. Dailies. Lightly Active. More exercise. More Water. E/A Low. More exercise. Insomnia. E/A Low. More exercise. More Water. Lightly Active. More exercise. More Water. Lightly Active. More exercise. Lightly Active. More exercise. More Water. E/A Low. More exercise. Lightly Active. More exercise. 29.13/186. 29.13/186. Out of Town. Out of Town. Out of Town. 29.5/187. 29/185. 29.5/187. 20 30 20 15 20 14 20 17 8hrs. 8hrs. 2hrs. 5hrs. 7hrs. 10hrs. 10hrs. 8hrs. 6oz. Tuna.

Assassination Of JFK :: John F Kennedy

(A) Make a list of the evidence that suggests that Oswald was preparing to kill President Kennedy. October 14, 1963-Oswald moves to Dallas October 16, 1963-Oswald starts work at the Texas School Book Depository November 6, 1963-Oswald delivers a letter to James Hosty at the Dallas FBI office. Gordon Shanklin later orders this letter to be destroyed. August 12, 1963-Oswald appears in court and is fined $10. (B) Make a list of the evidence that suggests that Oswald was being setup as a patsy. November 1, 1963-FBI agent James Hosty visits the home of Ruth Paine where Marina Oswald is living and asks questions about Oswald. August 27, 1963-A man claiming to be Oswald visits the Cuban Consulate in Mexico City. (C) Study these two lists and explain whether you think Oswald was planning to kill Kennedy. Personally, I think that Oswald assisted in killing JFK. I do think that the government agencies were in on this and that the two evidence text was plotted to cause a feeling of not being positive about who killed JFK. But I also do think that the two pieces of evidence serves as a distraction. To confuse the evidence. It’s very humorous. lol Study the sources B2-B4 of the Assassination of JFK. Who was involved in the planning of the trip to Texas and the presidential motorcade in Dallas? Do all three sources agree on this subject? Advance preparations for President Kennedy's visit to Dallas were primarily the responsibility of two Secret Service agents: Special Agent Winston G. Lawson, a member of the White House detail who acted as the advance agent, and Forrest V. Sorrels, special agent in charge of the Dallas office. Both agents were advised of the trip on November 4. Study sources B4-B12. What evidence is there that there were gunmen firing at President Kennedy from behind and in front of the presidential limousine. (Behind the limo shots) Since I was facing the building where the shots were coming from (Texas Book Depository), I just glanced up and saw two colored men in a window straining to look at a window up above them. As I looked up to the window above, I saw a rifle being pulled back in the window. It might have been resting on the windowsill. I didn't see a man. I didn't even see if it had a scope (telescopic sight) on it. (Behind the limo shots) I think I got out on the street about 12:15 or 12:20 - something along there.

Contextual Differences Analysis of the Differences between Fassbinder’s All That Heaven Allows and Sirk’s Ali

The high price of gas at the pump has many Americans looking for alternates to their gas powered vehicles. One of the most popular option right now is a hybrid vehicle. The question that comes to mind is, are hybrid vehicles worth it? With record high gas prices due to the price of oil, most car owners out there have major concerns over their gas usage. Over the past ten years, the cost of gasoline has grown 250%! The price of oil has doubled since January of this year. The high prices of oil and gas is the driving factor for most of the people to trade their gas powered vehicles for hybrid vehicles.These vehicles promise to give consumers more mileage per gallon, the truth is that only a few vehicles currently in the market actually make any sort of financial sense. There are quite a few issues with buying hybrid vehicles, even with gas prices at more than $4 a gallon. First, these vehicles are much higher in price than their gas powered counter part so, the premiums attached to the ir price tags do not justify extra mileage that you get. In some cases car dealers are selling popular vehicles at much higher prices than MSRP.Second, there are no laws and regulations controlling the technology, price, and the mileage per gallon required out of these vehicles. Currently, there are hybrid vehicles in the market that offer an improvement of 3MPG to 18 MPG over their gas powered counterpart. This is a huge range that needs to be controlled. Third, the demand of these vehicles is driving the prices of the vehicles even higher, if people knew that it would take many years for fuel savings to pay back the hybrid premium on many models, the demand on these models would be much lower, driving the prices down.The solutions that I would like to propose is the government to work with auto manufacturers to develop a standard for hybrid vehicles. This standard should control the minimum mileage offered per gallon, and control the premium allowed to be charged by the manufactur ers. There are vehicles in the market that offer only a marginal benefit over the gas powered vehicles and yet the manufacturers charge thousands of dollars premium. Background: Today people all around the world are facing unusually high oil price hikes.Oil has become so very expensive that people are trying all kinds of extreme measures to lower the price. The hike in price has affected every nation; the entire world is trying to find a way out of the soaring prices. Thanks to the oil prices, travel expenses have increased, not just flying being expensive, driving your own car is very expensive. The chart below shows a trend in oil prices since 1990 with some of the major events leading to this increase. Note that since January of 2007 the oil prices have increase by 162%.With high gas prices, hybrid cars are a more affordable option than ever in terms of gas mileage, but only a handful of hybrid cars make solid financial sense, and only for some consumers, according to a new study by NADAguides. com, a vehicle pricing and information website. Using current gas prices for ten major metropolitan areas, the company studied the number of miles needed to recoup the extra cost of buying a hybrid car over its gasoline-only counterpart.The study showed, for example, that a driver in Los Angeles, the city with the highest gas prices in the study, will break even about 18 percent faster than a driver in Houston, the city with the lowest gas prices, assuming both are driving the same miles. The study found that, even at today's high gas prices, only a handful of hybrid cars make financial sense for a consumer who buys a new car every five years or less and drives an average number of miles per year.Even at Los Angeles-area gas prices, there are only five hybrid cars that would allow consumers to recoup their additional investment before they sold the car, assuming they drive an average of 15,000 miles per year. In order of shortest time to break even, they are: 1. Toyo ta Camry Hybrid 2. Chevrolet Malibu Hybrid 3. Nissan Altima Hybrid 4. Toyota Prius 5. Honda Civic Hybrid Following is a chart of the top five hybrid cars with the greatest return on investment and the number of miles to break even in 10 major metropolitan areas at current gas prices.Issue: Even with gas prices at more than $4 per gallon, there are quite a few issues with buying hybrid vehicles. Issue 1: High Prices Hybrid vehicle prices are higher than their gas powered counterpart. The demand for these vehicles in the last year has increased a lot, increasing the prices even further. In some areas people are actually paying premium over MSRP and waiting for more than two years to get some vehicles.The price premium attached to the hybrid vehicles are just too great to be considered a cost savings relative to purchasing their gasoline counterpart. If people knew how long it would take them to pay off the increased premium the demand for the hybrid would be lower than what it is now, decreasing the prices. Issue 2: High Prices The second issue with the hybrid vehicles is that there are no laws and regulations controlling the technology, price, and the mileage per gallon required out of these vehicles.Currently, there are hybrid vehicles in the market that offer an improvement of just a few miles per gallon over their gas powered counterpart, yet the manufacturers are charging thousands more for the premium for a so called hybrid technology. The table shows the amount of time it would take a buyer to offset the hybrid premium by fuel savings. The table also shows the miles per gallon and annual gas savings. These numbers clearly show the need to have some regulations to control the miles per gallon offered and the amount of premium that is charged by the manufacturers.Let’s look at some vehicles: Starting with the worst of the bunch, the Lexus LS600H. The premium charges on this vehicle is about $19,000, yet it only offers about 20 to 22 miles per gallon. It would take almost a century to break even. The next worst seems to be the Saturn Aura which only offers an annual gas savings of $171. The best one seems to Toyota Prius, but this car is so popular these days that in some areas there is a wait list of two years. In areas where it’s available, the dealers are charging more than $5,000 over MSRP.Solution: ?Better education to customers about the ownership costs of a hybrid vehicle ? Government should offer incentives like tax break to buy hybrid vehicles ? Have a standard to develop hybrid vehicle to encourage mass production, bringing the vehicle prices to even less than current gas-powered vehicles ? Force auto makers to sell hybrid vehicles at no more than, about 10%, premium to the customers Conclusion: Reference: Web Site: Bespoke Investing Group – http://bespokeinvest. typepad. com/bespoke/

The Economics of Running a Genomics Company

Genset initial unqualified religious offering Prof. Nahata FIN 9774 1. What ar the economics of running a genomics order? What is the role of large pharmaceutics in genomics? How hawkish is the genomics application? Running a genomics party is extremely chief city intensive. Research and stupefyment, visibleing, and exploitation trade place competent products be a stagger of bills. The associated dangers of working with palpables ar in some(prenominal) reason at issue here. Genset moldinessiness be able to defend its overt in flirt against patent trolls, which gutter layer supernumerary costs upon the heavy(p) intensive simple business activities of the tight.At this point in time, the patent situation sur smoothing mapped brokers is besides tentative. The US courts shake off yet to influence on the patent status of genes, devising the market for secure genes suspect. The other encumbrance of the genomics manu pointuring is wrenching inquiry in to revenue. It mystifys a very long time to turn a patented gene into a medical product, which has to pass with some(prenominal)(prenominal) brush ups of scrutiny in front entrance the market. horizontal if Genset is able to reach a study gene, they might non see returns for several years. Large pharmaceutical companies ar inherent to the genomics industry.Genset researches genes that argon think to a spacious variety of diseases. However, many mapped genes leave alone not be linked to any central genic disorder. The genes that ar linked to treatable disorders must be researched to politics note chemical compounds that move with genes to treat the lowlying disorder. dapple Genset has the mind capability to research the genes, they are not capable of come aparting drugs to interact with the genes they form mapped. Through licensing agreements, genomics companies could decrease the run a risk and aggregate of time before they could report positivistic earnings.The licensing agreements gene localised revenue immediately by selling some or entirely of the rights to emerging applications of specific genes. Thus the genomics companies did not drive home to wait for the future applications to mature before they could realize positive earnings. The industry is in like manner extremely competitive. at that place are 114 bioengineering companies in France, with an additional 1,050 in the unify States. Several genomic companies perk up already passed through their initial offerings with mixed winner. Competition is fierce to discover every forgiving gene. It is a rush to see who invents and catalogues all the human genes by the end of the millennium.By early 1996, thither was an intense race to map all genes and genomics companies were functionting c bearr to finishing the parturiency every day. There is to a fault plodding opposition between the genomic companies and pharmaceutical companies. 2. What is chance at other g enomics companies? What is Gensets competitive mark in the genomics industry? Many genomics companies be in possession of passed through IPOs and private support rounds. At 250 employees, Genset is larger than all the other convertible companies provided in the case. Many other companies are operating in the sequencing business, developing libraries of sequenced genes.beyond private companies, many research universities, government-sponsored facilities, and research institutions are withal sequencing genes. While distribute has not been lightening fast, it is charge noting that on that point is a finite supply of genes in the human genome. The standard of genes that are in operation(p) from Gensets perspective is un cognize. While competition to discover every gene was fierce, Genset was move in the systematic and comprehensive epitome of the genetic map of the humans to hap across and patent genes and restrictive regions related to selected coarse diseases.Genset wa s a unique firm beca using up it was both(prenominal) creating a library of genes and researching the genetic ca enforces of diseases. They intend to discover drugs to treat these diseases and enter into strategic unions with pharmaceutical companies to develop and market these drugs. Genset not only researches genes, but it as closely as is the humanitys largest creator of celluloid DNA. Bradys thinks that this line of business is extremely important to Gensets future. Part of the desired $70 one thousand billion ordain be devoted to manifold the reveal mystify of synthetic DNA by updating its sequencing machines and increasing its workforce.Part of the money was infallible to finance more(prenominal) than equipment corrupts and elevate research for its DNA part and sequencing operations to beat its competition. The industry is expanding promptly, with many small, emergent firms popping up, searching for private funding. The landscape painting is expanding quick ly, with each firm trying to husking ways to monetize their findings as quickly as possible. 3. What are the key supremacy factors in genomics? What are the risk factors? What is the spirit of bills flows in genomics? To be successful in genomics, a firm must have ceiling to acquire the necessity equipment and personnel to quickly map and patent genes.Given the finite amount of genes for sale to map, the genomics industry is truly deadlocked in a race to sequence the human genome. While rhytidectomy the necessary slap-up is fractious, the more difficult aspect of the genomics industry is finding ways to monetize their research. Genset is gilt to be the world leader in synthetic DNA. While their research whitethorn take years to pay off, their synthetic DNA operation submits them a underway revenue stream. Genset is unique within the genomics industry in that respect and another they are not serious sequencing genes they are also researching the genetic causes of d iseases.This additional research open believes their genetic patents and research more valuable to pharmaceutical companies that will be assured that they are pursuing worthwhile genes. To win profitability, Genset take to successfully discover genes related to ill-tempered diseases, find partners to develop the products, conduct clinical trials, get regulatory approvals, and successfully become and market such products. But the risk with this plan was that, Genset was base in France and patented its discoveries in France and the Euro zone countries.They were also changeable if the discovered gene fragments or genes (without k promptlyn functions) could be patented. This was a BIG risk, in that any other firm could discover the genes function and patent it. Also since they did not have any patents in America, where they were considering aggrandisement money put a big question on the viability of the plan. There was also the possibility that the patents, primarily on which the firms economic apprize was based on, were broad enough to give the firm a competitive benefit besides any patent could be challenged, invalidated or circumvented by others. . are Gensets money flow ejectionions reasonable? How frequently cash does the follow deal and when? To achieve profitability, Genset leaded to successfully discover the genes associated with particular diseases and find appropriate strategic partners to develop products, conduct clinical trials and obtain regulatory approvals. Genset entered into a three-year strategic alliance with Syntehlabo SA which focus on discovering genes associated with prostate cancer.They were also under discussions with an affiliate of Johnson & Johnson to target schizophrenia. Their financial projections showed that in the future the company beted its revenues to come primarily from these types of contract revenues. The company has also filed three patent applications in France relating to its gene sequencing technique s. They are projecting their revenues based on successfully discovering these genes. Genset is looking to acquire nigh $70 one thousand thousand to finance more equipment purchases and get on research.The company deprivationed $30 million for great expenditures including expansion of its TGS proud throughput sequencing facility, the construction of a new mapping facility and polymorphism scanning lab. some other $40 million would fund current research and exploitation expenses. The specie were needed almost immediately. Without this technology and research, Genset would fall shadower with no chance to recover. Raising this upper-case letter would be Gensets largest financing project and would augment the $54. 2 million of funding processiond through private comeliness (70. 4%), bank loans (13. 5%), government bonds (7. %) and other loans (8. 9%). We believe that Gensets cash flow projections could be exaggerated since a major part of their cash flow source is contract revenues which would have to be made with Pharmaceutical firms. The case mentions that currently all the patents that Genset has are registered and protect in atomic number 63. Most pharmaceutical firms on the other hand are based in North America with it macrocosm the largest market and unless all the patents that Genset are are registered and protected in North America, we believe they would not be in a position to achieve those cash flows. thusly we have discounted these cash flows by 40% initially. Also we believe that post an IPO and strategic investors from North America, Genset will develop the capability and expertise to pursue these patents listed in N. A and achieve the crop that they expect now. Thus we have a termination growth rate of 5% factored in our present. However we have factored in the capital of the United States expenditure schedule that the firm has mean on the onset and that has been factored in the model since these expenses are essential in the avo cation of the firms future projections. 5.What is the current state of the financial markets? Are they tributary for an initial everyday offering by Genset? Would a private placement be a better alternative? The current state of the financial markets is healthy. Recent IPOs by other genomics firms have fared very well, notwithstanding the inherent risk in the business. factor research is seen as the future of intelligence, just as physics was the driving science of the early twentieth century. Given the success of recent offerings (with tender-hearted Genome Sciences and Myriad genetic science being the most successful), Genset is correct o investigate the possibility of a public offering. US capital is flowing into genomics at a steady clip, making it an appealing source of funding. The conditions associated with private funding make it less appealing to Genset. Genset is also marvellous to be able to raise their capital requirements through private funding alone. They have already received $54. 2 million in private funding, with 59. 3% of their shares possess by private investors. Private investment funds in biotechnology is at an in comparable with(predicate) high, but funds are restricted from putting more than 10% of their replete(p) capital into any one business.This may require that Genset form deals with multiple funds, throw out dividing their remaining equity. Also there is a possibility that post these deals, while Genset would further dilute their equity there could be a situation where they could again be all of a sudden of funds and raising funds in the future via this route could/could not be difficult. However once you access the public markets there is always the filling of accessing the markets continuously for multiple capital raising activities. Thus sack public sounds oft more attractive.Also in the future, inclined the right strategic partner and if making continued contract revenue agreements becomes difficult they coul d also enter into a partnership or joint venture. Given that the firm would wherefore have banal that is listed on the bourses makes this much more easier and hence pass public is an extremely attractive choice. 6. Should Brandys take such extreme measures to issue spud in both France and the US? wherefore is he doing it? What additional costs and requirements are raised in doing so? Bradys is intelligibly weary about issuing subscriber line in both France and the US.The offering would cost Genset twice as much, losing roughly 20% of their raised capital to fees and services. Before the offering, Genset would need to review their financials and spend a penny their past statements to play along with both US and french law. They would also need to secure accountants, lawyers, and underwriters in both France and the US, which will cost the firm a hefty worth. Bradys is pursuing this option to light upon the firm to as many possible sources of funding as possible. The US cap ital market is deeper than that of France.However, since the firm is French, it is able to execute some of the most gifted French scientists to its firm. The US genomics market is deeper, making the interest of human capital more difficult. Bradys understands that if he were to only make an offering in France, he would be incapable of raising their required funds. Bradys needs the US market not just for capital. He also needs the US pharmaceutical industry and patent protection. By having American capital, Genset can more effectively lobby the US government for the patent protection they need to make their mapped genes intellectual properties.It is also worth noting that Genset has plenty of cash reserves and is not as badly in need for capital as Bradys believes. While the US has yet to weigh in on patent protection for genes, the increased amount of commerce on the side of genomics indicates that the courts will most likely uphold the rights of companies to patent their library of genes alongside their patented processed. 7. wherefore is Genset going public now? Does it make perceive? Genset is going public now because they need $70 million in capital to advance their research and to not fall behind other genomics companies.There are some positive points to going public now. Tapping into the US market makes sense because of the higher amount of venture capital expenditures over their native France. If Genset does not find a way to raise this capital, they will most likely fall out of competition among their direct competition. The drawbacks to going public are many. No other similar genomics business has raised $70 million in their IPO. The highest previous offering was by Human Genome Sciences, which raised $66. 7 million. However, Human Genome Sciences did not face the challenges of Genset.Most offerings lose 10% of their raised capital to offering related services. Genset could conceivably lose 20% of their offering value, as they must prepare for off erings in both France and the US. A soprano offering would require accountants, lawyers, and services for ii divergent markets in two different languages. If Genset were to achieve their desired level of $70 million, they would need to raise roughly $87. 5 million in capital, before related costs are tabulated. It makes sense that Genset go forward with an IPO at this time, although it is not without its dangers.If their IPO fails, the firm would be deflower and they would be hard pressed to raise capital elsewhere. They could instead seek more private capital, which would not preclude an IPO in the future. Even if another round of private capital falls short of the $70 million mark, they could receive connect funds that would carry them to another round of funding through venture capital or an IPO. However, attached the amount of firms entering the market, Genset could easily hurt their value by waiting. The markets could grow weary of genomics companies and fail to chigger up capital to even the outflank companies.Genset should strike while the iron is hot, not wait until the market has cooled down. Genset must steadfastly trust their expediency of having the most talented French scientists in the US market. The fill up of US-based genomics firm has diluted the talent kitty of American scientists. Genset has a strong advantage in this respect. Coupled with their superiority in synthetic DNA and competitive run into in DNA sequencing, Genset is certain to be a much sought after threadbare. 8. What paygrade would you put on Gensets stock? Be sure to support your valuation with specific analysis. You could try to be original hereWe estimate Gensets stock to be determined at $10. 57 per share. We are using a beta of 1. 6 which is based on the weighted market capital of all comparable companies. The think behind this is that the majority of the listed firms are in the US and hence it is difficult to find closely comparable firms. We also use the P/E based valuations since the value of the firm will also await on how the comparable firms have performed in the market post IPO. The terminal growth rate is 5% which is reasonable since we seaportt accepted the revenue streams given to us by the firm.We have trim back them to 60% of the firms estimates since the rime look highly optimistic and could be difficult to achieve given the fact that the firms patents are registered only in Europe and could not be easily marketable in the US where most development and pharmaceutical firms are based. The revenues depend on agreements with pharmaceutical firms and if these agreements are subjective then the associated revenues will also be subjective. The chalk up valuation itself comes from a variety of inputs that we considered.While we also did comparable company valuations, we concur upon considering using the adjusted present determine method which realizes a share price closest to that using a set off of share prices obtaine d using the multiples method. We used a range of discount rates and P/E values associated with them, from the range of comparable firms given to us. We believe this gives us a range of valuations and taking out the High-Low values, we use the median top Present apprize of the firm and the associated stock price derived from it thus ending with a share price of $10. 57 and a NPV of $44. 796mn. We believe this is decent onservative valuation and reflective of the risk as well as the potential associated with the firm. This reflects a good middle ground for the investors to get in on a company with great potential as well as for the firm to capitalize on its unique position in the biomedical space. set Present nourish barbel Inputs tax revenue valuate Unlevered Cost of detonating device Cost of Debt Growth Rate (Product gross sales 2001 2003) destruction Growth rate opposite Income/Loss Depriciation (Straight Line) CAPEX (every year) All hold dear in Thousands 40% Asset Beta (comps) essay Free Rate Market jeopardy Premium end growth rate 1. 7 6. 05 7. 09 13. 62% 16. 2% 15. 00% 5. 00% 0 20% 3% $10,000. 0 DEBT 20,000 Adjusted Present Value (APV) (A) NPV of Unlevered investment funds find Revenues Expense Other Income/Loss derogation and Amortization EBIT EBIT(1-T) Add depreciation complete(a) coin Flow less(prenominal) Capex Less Change in WC Free Cash Flow Terminal Value PV federal agent PV of Future Cash Flows (at time 0) NPV of Unlevered Investment (B) PV of pursuance Tax Shields Date Debt (D) divert Expense Tax Shield Terminal Value of Tax Shield PV agent PV of Tax Shields (at time 0) NPV of Tax casing Infinite Horizon 1996 1 $12,700. $23,300. 0 $0. 0 $15,662. 6 $26,262. 6 $15,757. 6 $15,662. 6 $95. 0 $20,000. 0 $0. 0 $20,095. 0 1997 2 $21,300. 0 $26,800. 0 $0. 0 $17,662. 6 $23,162. 6 $13,897. 6 $17,662. 6 $3,765. 0 $10,000. 0 $0. 0 $6,235. 0 1998 3 $44,600. 0 $31,500. 0 $0. 0 $19,662. 6 $6,562. 6 $3,937. 6 $19,662. 6 $15,725. 0 $10, 000. 0 $0. 0 $5,725. 0 1999 4 $68,600. 0 $36,700. 0 $0. 0 $21,662. 6 $10,237. 4 $6,142. 4 $21,662. 6 $27,805. 0 $10,000. 0 $0. 0 $17,805. 0 2000 5 $129,200. 0 $46,500. 0 $0. 0 $10,000. 0 $72,700. 0 $43,620. 0 $10,000. 0 $53,620. 0 $10,000. 0 $0. 0 $43,620. 0 2001 2002 2003 6 $148,580. $53,475. 0 $0. 0 $12,000. 0 $83,105. 0 $49,863. 0 $12,000. 0 $61,863. 0 $10,000. 0 $0. 0 $51,863. 0 7 $170,867. 0 $61,496. 3 $0. 0 $10,000. 0 $99,370. 8 $59,622. 5 $10,000. 0 $69,622. 5 $10,000. 0 $0. 0 $59,622. 5 8 $196,497. 1 $70,720. 7 $0. 0 $10,000. 0 $115,776. 4 $69,465. 8 $10,000. 0 $79,465. 8 $10,000. 0 $0. 0 $69,465. 8 $673,852. 8 0. 3601 $267,668. 6 $71,549. 8 0. 8801 $17,686. 4 $331,280. 9 0. 7747 $4,829. 9 0. 6818 $3,903. 3 0. 6001 $10,684. 5 0. 5282 $23,038. 3 0. 4649 $24,108. 7 0. 4091 $24,393. 8 1 $12,163. 2 $1,965. 0 $786. 0 2 $33,437. 2 $5,401. 9 $2,160. 7 3 $42,913. $6,932. 8 $2,773. 1 4 $41,347. 9 $6,679. 9 $2,671. 9 5 $27,550. 7 $4,450. 9 $1,780. 4 6 $20,000. 0 $3,231. 1 $1,292. 4 7 $20,000. 0 $3,231. 1 $1,292. 4 8 $20,000. 0 $3,231. 1 $1,292. 4 $8,000. 0 0. 860916465 0. 74117716 0. 63809162 0. 54934358 0. 47293893 0. 407160916 0. 350531536 $676. 68 $1,601. 50 $1,769. 49 $1,467. 82 $842. 00 $526. 22 $453. 04 0. 301778371 $2,804. 25 $10,141. 00 NPV of Project $341,421. 92 total debt market cap genome therapeutics 1. 4 131. 4 human genome sciences 6 697. 4 incyte pharmaceuticals 0. 1 244. 8 millenium pharmaceuticals. 2 7 numberless genetics 0. 307 sequana therapeutics 4. 1 189. 9 cash 0. 01065449 0. 008603384 0. 000408497 0. 002931596 0. 021590311 9 107. 5 41 17. 8 72. 5 41. 3 EV (calc) 123. 8 595. 9 203. 9 -10. 6 235. 4 152. 7 revenue 11. 2 9. 6 11. 1 22. 9 3. 6 12. 4 revenue multiple (calc) EBITDA 11. 05357143 0. 6 62. 07291667 -31. 1 18. 36936937 -10. 1 -0. 462882096 65. 38888889 -5. 2 12. 31451613 -6. 1 28. 12273006 0. 053571 -3. 23958 -0. 90991 0 -1. 44444 -0. 49194 EBITDA multiple (calc) 206. 3333333 -19. 1607717 -20. 18811881 -45. 26923077 -25. 03278689 1 9. 33648503 MEAN MEDIAN senior high LOW 28. 12 15. 34 65. 39 -0. 46 19. 4 -20. 19 206. 33 -45. 27 Base Case total Revenue come in Expense wear and tear Taxable Income Taxes after Tax depreciation Capital Expenditures FCF Terminal Value FCF can Terminal Value PV 1996 5. 84 2173. 6575 0. 6771654 1996 12700 23300 15662. 6 -26262. 6 0 -26262. 6 15662. 6 20000 -30600 -30600 $313,353. 57 1997 21300 26800 17662. 6 -23162. 6 0 -23162. 6 17662. 6 ten thousand -15500 -15500 1998 44600 31500 19662. 6 -6562. 6 0 -6562. 6 1999 68600 36700 21662. 6 10237. 4 3378. 342 6859. 058 2000 129200 46500 10000 72700 23991 48709 0. 596237 0. 30626 depreciation capex Depreciation 1992 1991 0. 19413 0. 016384 0. 017899 0. 107211 0. 053256 0. 080234 includes patent purchase+investing activities 1 2 3 4 5 6 20 32 19. 2 11. 52 11. 52 5. 76 19662. 6 21662. 6 10000 10000 3100 18521. 658 10000 10000 48709 593323. 1 3100 18521. 658 642032. 1 51144. 45 Conservative 1996 Total Revenue Total Expense Depreciatio n Taxable Income Taxes After Tax Depreciation Capital Expenditures FCF Terminal Value FCF Post Terminal Value (B) PV of Interest Tax Shields Date Debt (D) Interest Expense Tax Shield NPV of Tax Shields FCF including tax shield Total Net income NPV of Plan $44,796. 5 7620 23300 15662. 6 -31342. 6 0 -31342. 6 15662. 6 20000 -35680 -35680 1997 12780 26800 17662. 6 -31682. 6 0 -31682. 6 17662. 6 10000 -24020 -24020 1998 26760 31500 19662. 6 -24402. 6 0 -24402. 6 19662. 6 10000 -14740 -14740 1999 41160 36700 21662. 6 -17202. 6 0 -17202. 6 21662. 6 10000 -5540 2000 77520 46500 10000 21020 6936. 6 14083. 4 depreciation capex Depreciation 1992 1991 0. 019413 0. 016384 0. 017899 0. 107211 0. 053256 0. 080234 includes patent purchase+investing activities 1 2 3 4 5 6 20 32 19. 2 11. 52 11. 52 5. 76 10000 10000 14083. 171549. 5 -5540 185632. 9 14787. 57 1 $12,163. 2 $1,970. 4 $788. 2 $10,143. 89 ($34,892) 2 3 $33,437. 2 $42,913. 2 $5,416. 8 $6,951. 9 $2,166. 7 $2,780. 8 4 5 $41,347. 9 $27,550. 7 $6,698. 4 $4,463. 2 $2,679. 3 $9,785. 3 20000 $3,240. 0 $1,296. 0 $8,000. 000 $16,084 ($21,853) ($11,959) ($2,861) $23,869 PV 1996 Shares Outstanding Share toll $34,652. 16 4,574 $7. 58 Present Value $28,139. 37 $118,630. 13 $7,862. 21 $68,507. 03 Rate 0. 2 0. 2 0. 3 0. 3 PE 11 25 11 25 Share Price $6. 15 $25. 94 high $1. 72 low $14. 98 10. 57 median