Folk Art Free Essays

Creators needed to how their pride in their way of life by fortifying their way of life as a dark demand dead of copying the manner in which whites composed. The Creation states,† God thought and thought, till he t Hough: I’ll make me a man! † This is a case Of a creator utilizing lingo to show their pride f or their way of life. Yearning to go home Blues states, â€Å"Homesick blues, Laid, ‘S a horrible thing to have. We will compose a custom paper test on People Art or on the other hand any comparable subject just for you Request Now † HTH s quote likewise shows pride in his way of life in light of the way that he is expounding on being h mamas utilizing vernacular. Dark Authors would regularly censure the individuals who mirrored white writing. The eye accepted they could show pride by proceeding to talk and write in African American vernacular so as to praise the lives of African Americans. While a few writers however composing n their own lingo was not conventional, African Americans started composing people craftsmanship. This raise d attention to the way of life and empowered writers to compose their story as slaves in their own dial and so forth. Yearns Hughes once said,† no incredible writer has ever been apprehensive about being hello there myself. † He imparts that insight with different creators who represent people workmanship. These authors the should the best ay to show racial pride was to make society craftsmanship. Pining to go home Blues states,†Ã¢â‚¬ ¦ Look in’ for a freight car to move me to De South†. This extract shows the author’s love for him home in t he south simply like any normal man would. Pop’ Boy Blues states, † when was home De Sunshine appeared gold. Since came up North De entire damn world’s turned virus. † This is another ere case of a normal regular man missing his country and being dealt with distinctively in a new spot. The Great Migration was the moving of African Americans from the South toward the North. They picked moving would leave racial separation in the south and wanted to blade d new open doors up North. Harlem populace Of African Americans rose from 1 O percent in 191 0, to 98 percent in 1950. This uplifted the quantity of dark claimed buss nesses making Harlem an image of African American independence. In this manner making a period of incredible racial pride for African Americans. Their pride in the way of life at that point turned into a significant t home in their craft and verse. From that point on so as to end racial separation, dark specialists b Egan making high and people workmanship. Step by step instructions to refer to Folk Art, Papers

Sniper Attacks essays

Expert rifleman Attacks expositions Since the start of October until the finish of October an expert marksman has been going wild in the Washington territory slaughtering guiltless and clueless individuals. This man or now as we probably am aware, men, were brilliant or maybe cunning is a superior word. They did an awesome activity on not getting captured until the end when they got indiscreet. Unfortunately enough it has caused numerous families heaps of sorrow including the expert marksmen families. The expert sharpshooter of the Washington region perpetrated criminal acts since the start of October, and now it is finished, fortunately before any longer individuals were murdered. On October 4, 2002 in Silver Springs, Maryland, the law authorization operators went on the quest for an expert sharpshooter who the police accept to have haphazardly picked 5 individuals to slaughter. Every individual executed with a solitary shot. The casualties were a cab driver at a service station, an exterior decorator cutting the garden, a lady at a mail station, another lady who was vacuuming out her vehicle, and the latter was in a parking garage. On Friday, Police Chief, Charles Moose stated, Theres still no data to lead us to think our casualties are related, they dont give off an impression of being anyones adversaries, simply arbitrary targets. About 7:45 on Thursday morning James L. Buchanan, 39, of Arlington Virginia, was the first of the people in question. He was cutting grass at a vehicle sales center in the White Flint zone. The following casualty was 8:15 a.m. on a similar morning. About a half-hour later Sarah Ramos was killed. The killings carried the quantity o f crime to 25 this year, in the Montgomery County. The last time the same number of individuals were killed in one day in the district was in July 1995, when a handymans collaborator killed podiatrist David Marc Goff, his three little girls and a temporary worker at Goffs home in Potomac. On October 6, 2002 a multi year elderly person was shot in the back in Michaels create store parking garage. No capture had been made in the shootings that started Wednesd ... <!

Should You Sell a Non-Core Business or Not

Should You Sell a Non-Core Business or Not So you have been thinking of buying an item of clothing for a long time. However, since it is quite on the expensive side, you are taking a long time in deciding whether to buy it or not. You have to weigh the pros and cons. Do you have enough money to buy it? Will you still have enough money left over after buying it? How will you go about buying it? How will you pay for it?Just a simple act of buying one item takes a lot of thought. Now, consider the other side of the fence. You have a piece of antique that you seem to no longer have any use of. Should you sell it or not? That question alone would bring about several other questions that you will have to consider before you reach a final decision. Do you need the money that you will get out of selling it? Is there any chance that you will need the item in future? How much are you going to sell it for? Who do you plan to sell it to? What terms of sale are you thinking of?When such a trivial case â€" selling a piece of antique furnit ure or buying an item of clothing â€"requires a lot of thinking on your part, think about how much more it would take when you are a businessman thinking of selling some assets or even business divisions or operations. Usually, this is a predicament faced by businessmen who have non-core assets, operations or businesses. © Shutterstock | pathdocIn this article, we discuss 1) what is a non-core business, 2) what are the benefits of having a non-core business or non-core assets, and 3) reasons for selling a non-core business and how the decision process looks like.WHAT IS A NON-CORE BUSINESS?You must have heard of non-core assets before. These are items that are used in incidental or peripheral activities of a business, not its main operations or normal activities. That same context can be used when defining a non-core business.Take, for example, a company with several parts or divisions that are operable as standalone businesses. The non-core businesses of this company are those that are not essential for the generation of revenue or profits. In other words, they are not the core businesses of the company. Some also include assets or businesses that are no longer used or operational in the category of non-core businesses.Core vs. Non-Core: A ComparisonHow do you differentiate core businesses from the non-core? Core businesses are those that are central to the main operations of a business organization, where the core earnings of the company are derived from. The non-core businesses are those that are only incidental to the company’s operations.In the case of a construction company, its core business is construction of infrastructure projects such as buildings and roads. However, it also has parts that focus on making and managing real estate investments, and it may also have a division in charge of the discovery and natural resources. These are the non-core businesses of the company.Identification of non-core businesses is not fixed across businesses, because it will depend on the nature or type of business. In the previous example, if we are talking about a real estate company instead of a construction company, the core business will be real estate, and the construction of buildings and roads will fall under its non-core businesses.In a simple comparison, a core business is strategic in nature and focused on the improvement of customer value. It is also deemed as the “profit center” of the company. A non-core business, on the other hand, does not have a strategic view, operating instead on a day-to-day basis. It is not concerned with the primary functions of the main company, and it certainly does not qualify as a profit center for the company.BENEFITS OF HAVING NON-CORE BUSINESSESDoes this mean that non-core businesses are useless, or of no use at all to the business? Not necessarily. If core assets are said to be crucial to the success of a business, there are also benefits to owning non-core businesses or assets, such as real estate, commodities, currencies, high-yield bonds and stock options.They improve the company’s net worth.In many cases, non-core businesses of a company are also indicators of that company’s overall health. When assessing the overall health of a company, attention is not always focused on the main or core operations, be cause others may tend to also consider the peripheral operations or businesses.On paper, the Asset section of your Statement of Financial Position will definitely look good. Aside from having a higher amount of assets, the company’s asset portfolio will also be diversified with the inclusion of these non-core businesses, which always add favorable points for the company that owns them.When investors are evaluating whether to put their money to a business or not, they tend to look at the overall picture, not just the core assets. They will also look into the non-core assets, or those that tend to be hidden, in order to come up with an informed decision on whether the company is worth investing in or not.They may serve as cushions for the company.Businesses should always have backup plans, and there are many companies that look at non-core assets or businesses as their backup plans. They act as cushions in cases of emergencies, such as when the company has an immediate need for cash or injection of capital, then they can use these non-core businesses to raise the funds that are needed.They add to the company’s net profit.Aside from your core earnings, or the earnings generated from the core activities or businesses of the company, you may also gain earnings from these non-core businesses. Yahoo, for example, is known for its core internet business, primarily on advertising on its different websites and the search engine.However, that is not the only source of income for the tech giant, since it also generates earnings from its non-core businesses, which includes several online companies (such as Tumblr and Flurry), as well as patents and intellectual property rights.REASONS FOR SELLING A NON-CORE BUSINESSSome business analysts flat out say that non-core businesses are business that you should not be running or operating AT ALL. They should immediately be stopped or divested. This is not an easy thing to do, however, and some businesses find it difficult to s imply let go of these units. However, with the proper motivation and the right reasons, selling a non-core business may be justified.In some parts of the world, the practice of selling non-core businesses is also becoming more commonplace, sometimes with governments having their say in the matter. In June 2015 in India, for example, the Finance Ministry stepped in and asked state-run banks to dispose of their non-core assets by selling them and using the money to reduce debt.Here we will take a look at the reasons why you should consider selling your non-core business.To prioritize resources and refocus business strategies.Stopping, disposing or divesting of a non-core business will free up time, money, and other resources that you can allocate to your core businesses. Also known as “carve-out transactions”, where a smaller part (the non-core business) of a larger company is sold, this will allow the company to focus on its core business, purely operating on where it gets its co re earnings.Often, non-core businesses are described as “expensive distractions”. They are even equated as “excess baggage” by some. They are there, but they are not helping. They are not your main operations, but they require significant amount of resources to keep running. The worst part is that your core operations may be suffering, because you have allocated resources to your non-core businesses, leaving your core business having to deal with resource shortage.Have a look at this checklist on deciding whether an activitiy is core or non-core to your business.[slideshare id=16955488doc=findingfocushownon-coreactivitiesareblurringyourstrategicvisionfinal-130305140053-phpapp01type=dw=640h=330]As an example, UK supermarket chain giant Tesco has decided to refocus on its core business, which is the supermarket. Therefore, it sold off Giraffe, a restaurant chain in the UK, and Dobbies Garden Centres, a garden retail chain. This, according to CEO Dave Lewis, was Tesco’s attem pt at focusing on its core strengths. It will come as no surprise, then, if Tesco also sells off its remaining non-core businesses, which include the coffee shop chain Harris Hoole.The refocus will not only strengthen the current operations, but also strengthen the brand or brands of the company. When it comes to consumer goods, British company Reckitt Benckiser, or simply RB, is a major player, with several well-known brands under its belt. But when it announced its plans to sell some of what it identified as “non-core brands”, the reason they cited was because “they did not make it to their power brands list”. These non-core brands, which include health drink brands Robinson Barley and Purity and fabric whitener brand Robin Blue, apparently registered a decline in sales over the past years, spurring the decision of the company to sell them.Cash generation for working capital management.At some point, the company may find itself strapped for cash, for example, to meet incr easing working capital requirements. Liquidity may become a problem and its other resources may be tied up.A quick monetization solution would be to sell its non-core assets or businesses. This will save the company from having to take out short-term loans from banks or other lenders, because it can easily raise the money on its own.For reduction of indebtedness.Companies may also opt to sell their non-core businesses and use the proceeds to reduce their indebtedness. Debt restructuring will definitely benefit greatly from a well-planned and implemented divestiture or sale of non-core assets.This was what Canada’s Advantage Oil Gas Ltd. did when it sold all of its remaining non-core assets for a total consideration of $74.3 million in cash, debenture and shares of stock. The proceeds were used to pay off Advantage’s outstanding bank loans.This will also trickle down to the improvement of a company’s credit rating, thereby putting it in a better position in the business commun ity. In the future, when it enters into loan transactions and other similar transactions, they can rely on their good credit reputation to carry them through.Capital raising.The company may be thinking of expanding its core operations, or entering a new market. Obviously, these will entail infusion of capital. Instead of seeking external sources of capital such as lenders, banks, investors and venture capitalists, the company may prefer to raise capital internally.One of the ways to do that is to sell some or all of its non-core businesses. The proceeds from the sale will then be used to fund the expansion of core businesses.For cost-cutting purposes.Especially lately, large corporations look at divesting its non-core businesses as part of their cost-cutting initiatives. Even if non-core businesses are not central to their operations, the company will still have to incur costs on them. They would still have to pay the salaries and wages of employees assigned to these businesses. The businesses will also be incurring operational expenses, such as on utilities and administration. In addition, the real properties and fixed assets used in the non-core activities are also subject to depreciation.In one of the more recent non-core asset sales, British banking group Barclay’s sold its insurance operations in Italy, and they estimate their total annual costs to decrease by roughly €5 million.For consolidation of financial position.Large corporations with more than operational division may have trouble consolidating its financial position. After all, there are many angles to look into. This was the case with Devon Energy Corporation, an American oil and gas company that sold its upstream non-core businesses for close to $1 billion. This supported the company’s plan to streamline its asset portfolio and consolidate its financial position.The streamlining process will then enable management to take a better look at its company and its performance, and make decision s related to its future growth and profitability. When a non-core business is no longer deemed to be a strategic fit to the company, and it does not have the scale to improve the financial position and does not contribute anything to the advancement of the goals of the organization or parent company, then it is a good idea to sell it.To improve overall profit margin.Sometimes, we have to let go of underperforming businesses and ventures. It is possible that one of the peripheral units or businesses of a company may be incurring net losses from its operations and, when taken in the general books of accounts, they can bring down the company’s overall profit margin. The wisest choice would be to discontinue these non-core businesses.Let us once again take a look at Tesco. Aside from UK operations, it also has businesses operating in different parts of the world. For example, it used to have a grocery business in Istanbul, Turkey, which it listed as a non-core asset and sold off to a local competitor Migros. This move was in recognition of the fact that the grocery business was one of its underperforming businesses overseas.For organizational restructuring.Companies may also want to implement a reshuffle in their organizational structure, and one way to go about it is to lower the number of departments. It is possible that an organizational audit showed several redundant positions and designations, attributed primarily to non-core businesses.By selling some of these non-core businesses, the number of departments or units will be reduced, and the organizational structure, as a whole, will be leaner.MAKING THE DECISIONSo should you sell your non-core business or not?The answer should be YES, if:The company is in need of cash for its core operations, for capital expenditure or expansion, and there are no other ways of raising the needed cash or capital;The company’s debt position is precarious, and outstanding debts need to be settled immediately;The company’s non-core businesses are incurring losses and are draining company resources used in its core businesses;The company’s core operations need more attention and non-core businesses are taking up a lot of top management’s time.Doing so will increase shareholder value and improve the financial position of the company.In another non-core divestiture example, Royal Dutch Shell, another oil and gas company, cited several reasons for its plan to sell close to $40 billion of its non-core businesses.Shell’s takeover of BG Group in February 2016 made it the largest publicly-owned company in Britain and the largest producer of liquefied natural gas in the world. However, it also left Shell cash-poor.The merger also resulted in Shell’s liabilities reaching close to $81 billion, a sharp increase from $43.84 billion before the takeover. Shell’s CFO, Simon Henry, estimated that the sale will enable the company to reduce its debt by more than $50 billion over the next four years, until 2020 .Selling its non-core businesses was one of Shell’s attempts to cut its capital expenditures on these businesses.Clearly, the decision on whether you should sell your non-core assets or not (yet) will depend on the results of in-depth analysis, whether the benefits of keeping them will surpass the costs that will be incurred by the company.

Calveta Case Study complete - 7512 Words

The Summary Calveta Dining Services was created by Antonio Calveta and built on his passion for food and traditional family values and finally. Antonio started expand his business after year 1996 and enter into senior market during year 1972. By 2009, Calveta Dining Services contracts with senior living facilities (SLFs) for the management of food service to residents. Calveta Dining Service owed its success in Antonio Calveta’s way and the customized services they offered to the SLF residents. As a result, Calveta had enjoyed three decades of strong growth. After 35 years of leadership in the company, Antonio was retired at 2007 and named his eldest son, Frank, as CEO over his other siblings including his sister Jennifer who was more†¦show more content†¦Customers’ satisfaction is one of the significant reasons for an organization to be continually grows to its success. This cultural and lifestyle focused again, puts Calveta in a competitive advantage against its competitors as they treated their clients like their family members. Calveta is definitely deserved to be awarded with the increasing industry recognition for the pragmatic approach they are practicing when customers’ satisfaction is taken into consideration. â€Å"Charity† and â€Å"Respect† are the values that are taught by Calveta to their employees so that it becomes a norm in Calveta. Charity doesn’t necessary need to be done externally but also internally among the staffs of Calveta. They taught their staffs to be helpful towards one another even during work hours. Efficiency and effectiveness in their staffs performances too increases as wastage for example, in the context of time is dramatically reduced in figuring out the solutions to any difficulties faced. Respect on the other hand, don’t only come from internally but also towards external stakeholders such as their clients and guests. Simple quote â€Å"if you want people to respect you, you will have to respect others the way you want them to respect you† explains the importance of respect element. As these values that are embedded into the culture of Calveta, it helps in creating good working environment. â€Å"Educational Programs† are provided by Calveta for the importance of their employees’

The Schindler s List Critique - 2134 Words

Schindler’s List Critique On December 12th 1993, famed film director Steven Spielberg released a movie unlike anything the world had ever seen. Predominantly filmed in black and white, the docudrama had a running time of more than three hours. These elements, not exactly being crowd pleasers, did not foretell its incredible success. Schindler’s List, set in Poland and cast by the thousands, became the foremost Hollywood movie that not only attempted, but successfully depicted, the Holocaust in all its enormity. Up until that point the Holocaust had remained a subject that was considered taboo, horrific, and therefore impossible to portray on film. Despite the unavoidable flaws that follow creating a taboo subject into a movie, Spielberg defied all odds in directing an award-winning movie that brought an unspeakable subject to the surface to be discussed and understood. Through the use of cinematic effects such as black and white film and parallel editing Spielberg effectively portrays the story of Schi ndler and his role in the Holocaust. In Schindler’s List, Spielberg effectively employs the use of black and white cinematography with flashes of color to lend the film a more realistic, and therefore credible quality. Cameraman Janusz Kaminski expands on this concept in the Peter Ettedgui book, Cinematography saying, â€Å"With Schindler’s list, Roman Vishniac’s timeless photographs of the Jewish community in eastern Europe were an important influence. The idea was to make theShow MoreRelatedWk 5 Assignment Essay examples1297 Words   |  6 Pagesthe family’s future. Again I would use cross tabulation here, I would list in the left-most columns different income ranges and each row would be realistic of different family incomes. From there, each subsequent column would list a percentage relating whether those in that income bracket felt confident from a scale of 1 to 5. c) Marital status and sports participation. Here I would use cross tabulation to list two rows, married and unmarried. Then each column would represent a sportRead MoreInterpersonal Communication Skills9471 Words   |  38 Pagesengender subordinate commitment to the organisation. Third, the paper aims to investigate what interpersonal communication skills that enhance employee commitment to the organisation are most lacking in managers in supervisory positions. Keyword(s): Interpersonal communications; Interpersonal skills; Job satisfaction. Introduction Over the last three decades, studies on how to encourage organisational commitment have been of interest to researchers in the area of organisational communicationRead MoreLiterature review theoretical framework20677 Words   |  83 Pages............................... 51 6.5 Conclusion ........................................................................................................ 52 7.0 REFERENCES LIST ................................................................................................ 53 8.0 APPENDICES LIST ................................................................................................. 59 8.1 Appendix 1 – Permission Letter to Organisation ..........................

How Trees Improve Environment Free Essays

Trees are ancient living organisms that existed since the creation of the Earth and have been crucial to the Earth’s ecosystem. The age of a tree is determined by cambium, a layer of growing bark, which forms a ring in the wood of the tree. Each ring of cambium, tells the age of the tree. We will write a custom essay sample on How Trees Improve Environment or any similar topic only for you Order Now The climate can also determine how fast a tree grows. For instance, in cool climates, cambium only grows in the spring and summer. But there are some cases where you cannot determine the age of trees, like the trees in a tropical rain forest. The cambium grows all year round. Yet these trees do not have rings. Consequently without the cambium rings, it is difficult to tell the age of these species trees. Since trees have an s As told in the Holy Bible, â€Å"And the Lord God made all kinds of trees grow out of the ground—trees that were pleasing to the eye and good for food. In the middle of the garden were the tree of life and the tree of the knowledge of good and evil. † Just as is stated in the Bible, there are all kinds of trees, in all kinds of shapes and sizes. But how important are trees? If all the trees were removed from the Earth, what impact would this have on the environment? Determining the answers to these questions will be a guide in learning about the importance and value of trees in the ecosystem. Trees can have a positive effect on the climate, by shading the ground, trees cool off the Earth’s temperature. Strategically planting trees around air conditioners, windows and the walls which receive the most sun will help in reducing energy costs. Normally, the best position to plant trees is on the west, east and south. It really depends on a specific geographical location. However, according to American Forests’ research, even urban cities get the benefit of cooler temperatures from trees within distances of 35 miles. In fact, American Forests’ research determined that trees saved approximately $2. 8 million annually to Atlanta’s metro city as well as an annual savings for other metro areas across the United States. In addition, in 1991 a partnership between American Forests and the EPA (Environmental Protection Agency) along with other partners developed the Cool Communities program to promote trees as energy conservation tools. This program was a great success. It helped to educate the public on the ecological and economical importance of trees. But how do trees cleanse the air we breathe? Trees actually eat up the carbon dioxide that is emitted by cars, trucks and factories then releases oxygen (clean air) for us to breathe. Its almost like we feed them the carbon and they repay us with clean breathable air. The fact is one tree can absorb 48lbs of carbon annually and at the same time release enough oxygen to support two human beings. An acre of trees absorb 2. 6 tons annually which is enough carbon dioxide to cover the emissions from a car that is driven 26,000 miles. It is safe to say that we can all aid in having pure breathable air just by planting one tree. The U. S. Forest Service states that during a period of 40 years (1952 to 1992) an estimated 309 million tons of carbon was removed by trees. This is another reason why trees improve our environment. How to cite How Trees Improve Environment, Essay examples

Islamabad the Capital City free essay sample

Many were the reasons for which Pakistan needed a new capital city. During the first stages of the life of the new State it was natural that Karachi should have been selected as the capital, since it was a large city and a convenient centre of sea and air transportation. This was not, however, a satisfactory solution from points of view of climate, tradition and the existing buildings, which were not adequate in number or to the standards required by a capital. The layout and structure of the existing port city did not allow it to take on the functions of a modern capital. On the other hand, the influx of refugees intensified the existing problems and created new ones. Fig. 1. Map of Pakistan The government of Pakistan decided to cope with the situation by creating a new capital and proceeded toward this end in a systematic manner. By decision of H. We will write a custom essay sample on Islamabad the Capital City or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page E. the President of Pakistan, Field Marshal Mohammed Ayub Khan, a special commission was established to study this problem having as its chairman Major General A. M. Yahya Khan, Chief of the General Staff. This committee had its first session in February 1959, under the chairmanship of General Yahya, and during this session nine subcommittees were set up. In February 1959 H. E. The President of Pakistan honoured Dr. C. A. Doxiadis by naming him advisor to the Special Commission for the Location of the Capital and in compliance with a request from the President and from the chairman of the commission, a report was issued by Dr. Doxiadis with reference to this problem, in an effort to incorporate the knowledge and the experience of the members of the committees as well as of that of each committee as a whole. The result of this report was that two areas were suggested for the new capital, one outside Karachi and the other to the north of Rawalpindi. Islamabad. Model of the area On the basis of reports and recommendations of the Commission for the Location of the Capital, H. E. President Mohammed Ayub Khan decided in favour of the site North of Rawalpindi, on the Potwar Plateau and made a public announcement to this effect in June 1959. On July the 2nd, 1959 Major General A. M. Yahya Khan requested Dr. Doxiadis to prepare and submit a report in order to facilitate the task of the commission in preparing the next stages of the work, especially regarding the setting up of a commission for building the new capital and setting up a programme of action. During late July and early August 1959, Dr. Doxiadis visited the site of the capital and, as a result, the report Impressions from the site The necessary data was issued. 1 In September 1959, the government of Pakistan decided to establish the Federal Capital Commission for the preparation of the master plan and programme of the new capital. Simultaneously, Doxiadis Associates were appointed as consultants to the Federal-Capital Commission. Fourteen sub-committees, later named committees, were appointed during the first session of the Federal-Capital Commission, who issued a number of reports in connection with the surveys of the existing conditions in the capital area. Following the decision of the government of Pakistan to entrust Doxiadis Associates with the design of the new capital of Pakistan, the first team of experts of the consultant arrived at Rawalpindi early in November 1959 and a methodical collection of data was started, in close collaboration with the Federal-Capital Commission and Pakistani experts. Another team of experts also started work in Athens under the leadership of Dr. C. A. Doxiadis on the study and classification of all collected and available data. A most important milestone in the history of the capital was the decision taken on February 24th, 1960 by H. E. the President and his Cabinet to give the New Capital of Pakistan the name of ISLAMABAD (the City of Islam). It can be considered that the New capital of Pakistan was born on this day. Several reports covering all facets of the problems related to the creation of the new Capital of islamabad were prepared by Doxiadis Associates. These reports referred to the size of the Capital, the cost of the project, the facilities needed, highways, transportation in general, and so on. On May 24th, 1960 the preliminary master Plan of islamabad and the planning principles that will make this capital a model for A City of the Future, were presented to the Cabinet and approved by H. E. the President of Pakistan. A special authority, the Capital Development Authority, which took over from the Federal-Capital Commission, was set up in Pakistan and charged with the overall development of the new capital. The greater area of the capital, the metropolitan area, has been planned for a future population of about 2,500,000 inhabitants within a period of two generations. Many factors influenced the decision regarding the location of Islamabad, such as transportation and communications, factors of national interest, defense, economic factors, civic factors, existing facilities, etc. After a careful study of these, the present area represented by the model on the front page was selected. The nearby existing city of Rawalpindi would offer Islamabad considerable aid in facilities and initial housing needs. The chief characteristic of the landscape is that it runs from north-east to south-west along valleys formed by a series of hills running in the same direction. The Murree Highway had to follow this direction through a valley formed by two hills: the Islamabad highway has been aligned vertically to the Murree Highway between the existing airport and Shakarparian hills. Two more highways, by-passing the existing town of Rawalpindi, have been proposed. On the basis of the above ideas, a system of four highways becomes the basic step for the metropolitan area. These axes form a big square, which will define all future transportation systems and all major functions within the metropolitan area. 2b. Formation of the Metropolitan Area The principal system of axes in the metropolitan area of islamabad defines three distinctive areas: a. the area of Islamabad proper. b. the area of Rawalpindi, the center of which is the city of Rawalpindi. c. the National Park area which will retain certain agricultural functions for several years and where sites must be provided for a national sports center, the national university, national research institute, etc. The areas of Islamabad proper and Rawalpindi are both open for expansion towards the south-west, while the National Park area is rather districted from the surrounding hills and Soan river to the south-east. Fig. 3. The main highways Fig. 4. The three parts of the metropolitan area 3 2c. Dynametropolis The cities of Islamabad and Rawalpindi will develop as twin cities serving each other in complementary ways. Islamabad will be the capital of the nation and will serve mainly administrative and cultural functions. Rawalpindi will remain the regional center serving industrial and commercial functions. The master plan for both cities has the flexibility to allow for future expansions of the center. It has been designed on the basis of the ideal city of the future and to form a dyna-metropolis. Each is planned to develop dynamically towards the south-west, their center cores growing simultaneously and together with their residential and other functions. 2d. Islamabad The whole metropolitan area is sub-divided into sectors, called Communities Class V, each for about 20,000-40,000 people and each according to the income group it will serve. The sub-division of the metropolitan area into sectors resulted from the adoption of a pattern of principal roads placed 2,200 yards apart in both- directions. Fig. 6. Islamabad The sketch indicates growth of functions in the direction of the citys future expansion Fig. 5. The central functions of Islamabad and Rawalpindi This pattern forms a modulus in the town and maintains a unified scale for the whole metropolitan area. At the same time, it facilitates the road traffic as well as the organization of the various land-use zones into communities of the same order. The field pattern provides for an hierarchical distribution of roads, starting from the highways, which have 1,200 ft. rights-of-way. The secondary roads have 600 ft rights-ofway. The third category consists of roads 100-300 ft wide entering the sectors, and surrounding the residential communities. The last category of roads, those leading to individual houses and buildings, run into the residential communities. These access roads are either for vehicles or for pedestrians. There is full segregation of motorized and pedestrian traffic. Longitudinal sections of the roads follow the same classification. The highways are designed with the sole objective of serving high speed motor-traffic. In the other categories of roads, the landscape is more respected, and on roads for the pedestrian, there are even steps where the ground rises steeply. The human scale and that of the machine are kept clearly distinct, and the elements of road design strictly observe the requirements of this separation. The many zones of Islamabad serving various functions have been planned to allow for future expansion. The administrative sector is placed at the heart of Islamabad, from which it spreads first towards and then along the hills. 4 The civic center is developed in a strip running south-west, which is the main direction of the towns growth. The residential and the light-industrial zones follow the same trend. 2e. Rawalpindi The existing town of Rawalpindi was the major man-made obstacle in designing the new capital. After a thorough study of the possibilities regarding the relation of the new capital to the existing town of Rawalpindi, it was found advisable to place Islamabad at such a distance so as to: a. orm an independent settlement for purposes of allowing the design of a physical plan independent of the existing restrictions imposed by the plan of Rawalpindi town. b. provide the new capital with services and buildings already existing in Rawalpindi in order to save the maximum amount of costs. Rawalpindi has been the subject of a special study so as to permit the coordinated and balanced growth of the two towns in a balanced way. A master plan for Rawalpindi was prepared, and regulations about zoning and interim development control were proposed. For many years to come, the existing town of Rawalpindi will perform the duties of a mother caring for her child, until the child is grown and becomes self-sufficient. 2f. The National Park The third part of the metropolitan area is the National Park, situated so as to serve both Rawalpindi and Islamabad. The National Park has been designed to provide space for: a. educational and scientific institutes of national importance, such as national university, atomic energy center, research center, national health center, etc. b. ecreational facilities, both active and passive, such as sports centers, exhibition areas, zoo, botanical gardens, etc c. agricultural areas for cultivating vegetables and fruits required for the two cities. The National Park already has the Rawal lake which was created in 1961 following the construction of a dam to collect irrigation water and to supply water to Rawalpindi. In the future, running water, may be dammed to form more lakes. Fig. 7. Rawalpindi Fig. 8. The National Park 2g. Unity of Scale A principle adopted in designing the Islamabad- Master Plan 5 was unity of scale. This was considered absolutely necessary to achieve a cohesion between the various elements of the town. The city is not a conglomeration of isolated and unrelated spaces, but one entity of interrelated spaces. A scale measurement was determined to govern the elements composing the city, such as plots, streets, open spaces, squares, roads, etc. The selection of a system of axes or prevailing orientation is equally important for the achievement of unity of expression. Based on a study of the scale of the city made by the chief consultant, volume, heights, densities, and floor indices of the buildings were specified for each particular sector. This study led to concrete proposals for the public-buildings area, the layout plan of which was designed to harmonize with the buildings of the administrative sector opposite the public-buildings area. Fig. 9. Islamabad (model) Birds eyeview from N. E. ; the Capitol with the main administrative center, the sectors of public buildings and residential communities 2h. The Master Plan of the Metropolitan Area Each of the three parts defined by the alignment of the main axes of the metropolitan area is sub-divided into sectors.

It 321 Network Technology and Service Integration Essay Example

It 321 Network Technology and Service Integration Essay Example It 321 Network Technology and Service Integration Essay It 321 Network Technology and Service Integration Essay IT 321 Network Technology and Service IntegrationIT 321 Network Technology and Service Integration Assignment 1-4 Review Questions Ch. 9 in Intro to Telecommunications 1. 2. Define the following terms: a. CPS-Central Processing System- the â€Å"brains† of the switch. The main functions of the CPS are global call processing, network control, signaling control, maintenance, and administration. It is responsible for system, recovery, software upgrades, storage of global routing information, and distribution of information to all subsystems. b. NCP- Network Control Processor- the mini brains of the switch. It is connected to the CPS and the line and trunk modules. It receives questions from the line and trunk units regarding call routing, feature requests, and so forth. c. ICS- Interface Controller- Interface between the NCP and the line modules. The IC sits between the switching fabric and the line or trunk modules and is used to connect the two. It can be considered the highway that is used to pass messages between the different modules cause it talks to the NCP. d. Trunk Module- The portion of the switch where the trunk circuits terminate. The y terminates trunks into the switch. Trunks arrive from other switches, and terminate at the trunk module. e. Line Module- The portion of the switch where the individual POTS lines terminates. The line module is the module that interfaces with the subscriber’s line. 3. Explain the difference between a tandem switch and a class 5 switch. f. The tandem switches main purpose is to switch trunks, routing them between class 5 switches. Many class 5 switches now have tandem switch capabilities blurring the line between class 4 and 5 switches. 4. Explain the difference between a tandem switch and a long distance switch. g. .. 5. Explain the difference between a long distance switch and an international switch. h. .. 6. Explain how a class 5 switch routes a call traveling between two lines that are served from the same switch. i. .. 7. Explain how a call is routed between an end-office switch and the local tandem switch. j. .. 8. 9. 10. Why do business customers purchase private branch exchanges? k. The private branch exchanges is like the class 5 switch but it resides at the customer’s premises. It routes incoming and outgoing calls, provides features on the line, and keeps call records on each individual line. It reduces the number of lines needed between the business and the telephone company. 11. 12. 13. 14. Define each part of the following number as defined by the North American numbering plan: 818-555-9877. l. 818 is a three-digit area code-Numbering Area Plan (NPA) m. 555 is a three-digit number exchange (NXX) n. 9877 is a four-digit subscriber code (XXXX) 15. 16. 17. 18. 19. 20. Define the following terms: o. usy hour- the number of calls a switch can hold is the busy hour call attempts. This type of blockage happens when the switch’s processing power or CPU is too small to handle the call volumes. p. average hold time- the average time a subscriber remains on the telephone. 21. Name five features offered by the class 5 switch. q. three-way calling r. speed calling s. call waiting t. call forwarding u. voicemail 22. List three of the CLASS features offered by the class 5 switch. v. Automatic recall (redial) w. calling number identification (caller ID) x. distinctive ringing

Technical Report Writing Course Lessons Learned

Technical Report Writing Course Lessons Learned "Risk being unliked. Tell the truth as you understand it. If you’re a writer you have a moral obligation to do this." ~ Anne Lamott After leading technical report writing courseswith large and small companies for nearly 20 years, I have seen a common challenge present repeatedly. Telling the truth can be hard. Conveyingfindings or recommendations that we know aren't welcome can be daunting because no one wants to disappoint people, especially a boss. But, truth in business reports is absolutely essential. There is no way around it. We must be 100% truthful in business reports. If we aren't, the results can be disastrous. A Technical Report Writing Course Story from the Trenches Aplastic-producing company clienttold me they lost their largest customerwhen the polymers the companyproduced broke down ata particular temperature. This shouldn't have happened because extensive testing had been conducted on the polymers, which reportedly had withstood temperatures far in excess of the breakdown point encountered. When we deconstructed the information path backwards from the customer proposal that specified the polymerperformance to production reports to testing reports, we noticed some ambiguity in testing reports. The testing reports didn't overtly state the temperature breakdown point. Instead, it simply stated "acceptable heat tolerance." That vagueness shouldn't have been allowed into production. It did move to production, though,because various readers of the testing reports had different understandingabout the meaning of "acceptable heat tolerance." That was mistake # 1, and was more about accuracy (also critical) than truth.We discovered a bigger truth mistake as we continued to excavate the information path to its source. The person who wrote the testing report confided in me that he felt a lot of pressure to "...approve the testing because we needed to move into production fast to meet order demand. My boss would have been very unhappy with me if I had been the one to identify that this major product really had limited heat application. Our bonuses were tied to our innovation and production." Ugh. A "small" sweep-it-under-the-rug-move-it-along choice eventually cost the company its largest customer and opportunity. The fallout in publicity and liability was far worse than any delay and resolution would have been. The testing engineer rightly lost his job. Nothing good happened by not reporting truthfully. I could tell you story after story I've heard in training sessions and client meetings about the harm of sidestepping difficult issues in reports. Nothing. Let me repeat, nothing, matters more in reports than truth and accuracy. Decisions are made based on reports. If the information is not accurate and truthful, the decisions are based on faulty data or information. hbspt.cta._relativeUrls=true;hbspt.cta.load(41482, '934718b3-251a-45d6-8853-a7f94e43b92c', {}); Don't be Afraid to ConveyBad Newsin Business Reports Never apologize for delivering "bad news" at work in any circumstance. If it's a good business decision, just state the truthful facts. Apologizing just undermines the good decision. Omitting information is more dangerous than truth. Remember, technical business reports and business reports are used for decision making. If the information in the report is not truthful, the report is dangerous to the company's profit and reputation. It can alsocause potentially dangerous implications when implemented. Another client contacted us afterfor technical report writing training whenmetal triggers they manufactured forlaw enforcement weapons failed to work. The cause was the same. A testing engineer was afraid of being blamed for a production delay and disappointing his boss. (He also reported "there was no place in the report template for the information," but that is a separate report writing issue to address in another article.) A police officer was injured when a weapon he needed defensively failed to work. Truth matters in report writing. "Risk being unliked. Tell the truth as you understand it. If you’re a writer you have a moral obligation to do this." ~ Anne Lamott

Are the different theoretical models that attempt to provide a general Essay - 1

Are the different theoretical models that attempt to provide a general theory of employee relations in small and medium sized firms (SMEs) reliable, or is the sector to divergent Critically discuss - Essay Example SMEs provide new flexible forms of employment which is not an inferior form of work organization but necessitated by supply and demand forming an additional basis for new segmentation in work and employment relations in the labour market (Thurman 1993). Official statistics on the incidenceof SMEs provide valuable information stating that these SMEs employed a total of 8.66 million employees i.e. 36 percent of all UK employees and accounted for 47 percent of private sector employers’ turnover. This makes it apparent why employee relations are important in small and medium sized firms apart from innovation and economic growth (Forth, Bewly and Bryson 2006). The above statistical records for SMEs make it vital for the involvement of employee relationship in these firms and whether industrial relations theory or model are reliable in the context of their operations and management. According to Bolton Report ‘Committee of Inquiry on Small Firms† (cited in Forth, Bewly and Bryson, 2006), it was concluded that â€Å"although physical working conditions were generally inferior to those found in larger firms, industrial relations in smaller firms were distinctive in conflict prone economy as being predominantly harmonious. Arrowsmith et al (2003) further elaborate the report of Bolton Committee characterizing about the size of SMEs and observe that there is a close proximity between manager and workers in SME which promotes mutual and informal ‘give and take’ that undermines collective organization and conflict. While industrial relations or employee relations is necessary to so as to maintain a balance at bargaining for the purpose of which unions are formed, putting forth their demand in front of the employer in case of large firms (Farnham, 2000). The three main competing sets of theories are classified and explained by Farnham and Pim lott (cited in Farnham 2000) which depict the nature of industrial conflict between employers and employees and between

Health communication Essay Example | Topics and Well Written Essays - 750 words

Health communication - Essay Example le control attained by obtaining referral to a specialist, which directly improved recovery in those patients who felt the doctors measures to be directly pertinent to their personal distress. The close relations of patient satisfaction, treatment established, and subsequent results need extra careful thought in social studies. There exists an argument that while interpretive theoretical, frameworks have accredited a constitutive purpose to the function of communication in meaning construction not much concentration has been given to the manner in which social relations of power act as a go-between in this process of meaning creation. Ideology, nonetheless, is a helpful heuristic concept that gives a way of contextualizing the communication procedure in such power relations. Communication includes not only the procedure of generating meaning, but is also inherent to the means by which relations of power get produced and reproduced (Thomas, 2006 P. 116). The idea of ideology is presented as the abstract connection between communication and authority. The social construction is a key research standpoint in medical sociology. First, some ill health are entrenched with cultural meaning that is not directly resulting from the natural history of the condition, which shapes how society reacts to those troubled and impacts the experience of that ill health. Second, every illness has a social construction at the empirical level, based on how persons come to appreciate and survive with their sickness. Third, medical information about ill health and disease is not provided by nature but is created and developed by claims-makers and concerned parties. Social constructions provide a significant counterpoint to medicine’s mainly deterministic approaches to illness and disease, and it can assist us widen policy discussions and choices. Sharing stories are becoming a powerful tool in the health profession, which helps to combine and exchange knowledge. Sharing experiences

New Zealands Health and Disability Systems

New Zealands Health and Disability Systems Adrian Capalad NEW ZEALAND New Zealand’s health and disability system has encountered lots of changes in the past decade. In fact, New Zealand spends almost nine percent of its gross domestic product (GDP) on health care which is roughly USD 2,403 per capita. Approximately seventy seven percent of health expenditure by its citizens is shouldered by the government (WHO, 2008). In a more recent study, 2010, in which 14 developed countries were compared side by side on the basis of health spending and medicine use. The result was that New Zealand came in last among other countries which spends USD 3,460 per capita against United States at USD 7,290 (Johnston, 2010) Figure 1: Overall Expenditures on Health http://www.commonwealthfund.org/News/News-Releases/2010/Jun/~/media/Images/Publications/Fund%20Report/2010/jun/MM2010l.gif New Zealand’s Ministry of Health is solely responsible for managing and funding the twenty District Health Boards (DHBs) (Ministry of Health, 2014). The DHBs meanwhile, are responsible for organizing healthcare in their own districts which aims to carry out specific standards that were promulgated by the Ministry of Health. In addition, each DHB district is composed of eight members, in which one is appointed by the Ministry of Health and the other seven are elected every three years (Ministry of Health, 2014). Each DHB then supervises the forty six local Primary Health Organizations throughout the country. These Primary Health Organizations were only introduced to the system midyear of 2002 wherein its main objective was to focus on the status of the communities under its jurisdiction (Ministry of Health, 2014). New Zealand health system does not enclose itself on the health alone but, it includes disability as well. Thus, the health and disability services in New Zealand are delivered synonymously through a complex network of organizations and people (Ministry of Health, 2014). According to the Ministry of Health (2014), these are the key organizations and people in New Zealand’s health and disability system: Appointments to statutory bodies Crown entities agencies District health boards Health alliances Ministerial health committees NASO Non-governmental organisations Primary health organisations Professional and regulatory bodies Health Targets: In New Zealand each individual will be issued a National Health Index (NHI) number however, only permanent residents and its citizens have access to free health and disability services that are mostly financed through taxes (Ministry of Health, 2011). Non-residents such as tourist and illegal migrants are charged fully for the cost provided by health institutions. Private voluntary insurance is mostly used to cover cost sharing requirements and elective surgery. Health Coverage: New Zealand’s health and disability services includes all disability support services, long term care, mental health care, primary care, preventive care, outpatient care, prescription drugs for all its citizens and dental care for school children. However, there are numerous of services that are not included like adult dental care and orthodontics, optometry care, and physiotherapy. Although there are health services not included, the National Health Service tries to compensate through preventive actions like dental care, eye care, immunization and vaccination programs, inpatient and outpatient hospital care, screening, medications, mental health care, palliative care, long term care, rehabilitation and physiotherapy after a stroke. Safety Net: Patients who often visits their physicians or accumulates more than ten visits per year are given a card in which they can avail a lower service rate. Local children under six years are free from consultation and prescription while the rest of the general population is subsidized by the government provided they are enrolled in the Primary Health Organization (PHO). Figure 1: Overview of New Zealand Health and Disability System. Retrieved from http://www.health.govt.nz/sites/default/files/images/nz-health-system/structure-health-disability-sector.png New Zealand health and disability system parts of the structure: â€Å"The Accident Compensation Corporation (ACC) mostly covers the costs of cases deemed as accidents, it may be from medical misadventure or otherwise. The ACC service applies for all people legally in New Zealand (including tourists and students), in which the costs of accidental benefits will be recovered via levies on employers, employees and some other sources such as car registration (Parliamentary Counsel Office, 2013).† Southern Cross Health Insurance is a non-profit-scheme and is one of the largest health insurance provider composing at about three-fourth’s of the health insurance market and covering almost a quarter of all New Zealanders in 2007, even operating its own chain of hospitals. PHARMAC is a government pharmaceutical company that requires co-payments, but are also subsidised by private shareholders. The objective of the government was for patients with community health services cards or high user health cards (Pharmaceutical Management Agency, n.d.). St. John New Zealand charity in Auckland and Wellington Free Ambulance based in the Wellington Region are both primarily emergency oriented services that are supported with a mix of private (donated) and public (subsidy) funds (St. John, 2014). REFERENCES: Banderas News Team. (2012 August). Mexico Achieves Universal Health Coverage. Retrieved from http://banderasnews.com/1208/hb-mexicouniversalhealthcoverage.htm. Global Day of Action on Military Spending. (2013). New Zealand Budget Report 2013: Facts and Figures of Military Spending. Retrieved from http://demilitarize.org/news-and-opinion/zealand-budget-report-2013-facts-figures-military-spending/. GFP. (2014). Mexico Military Strength: Mexico relies on its partnership with the United States and Europe for much of its modern frontline military equipment. Retrieved from http://www.globalfirepower.com/country-military-strength-detail.asp?country_id=mexico. Human Rights Commission. (2014). Human Rights Environment. Retrieved from http://www.hrc.co.nz/human-rights-environment/. Harvard School of Public Health. (2012). Mexico achieves universal health coverage, enrolls 52.6 million people in less than a decade. Retrieved from http://www.hsph.harvard.edu/news/features/mexico-universal-health/. Johnston, M. (2010 July). The New Zealand Herald: NZ ranks last in medicine use and lowest health spender. Retrieved from http://www.nzherald.co.nz/nz/news/article.cfm?c_id=1objectid=10662259 Lakin, J. (2010). Journal of Health Politics, Policy and Law, Mexico’s Popular Health Insurance Ministry of Health. (2011). National Health Index entitlements. Retrieved from http://www.health.govt.nz/new-zealand-health-system/claims-provider-payments-and-entitlements/national-health-index-entitlements. Ministry of Health. (2014). New Zealand health system. Retrieved from https://www.health.govt.nz/new-zealand-health-system. Ministry of Social Development. (2004). Primary Health Care In New Zealand: Problems And Policy Approaches. Parliamentary Counsel Office. (2013). New Zealand Legislation: Accident Compensation Act 2001. Retrieved from http://www.legislation.govt.nz/act/public/2001/0049/latest/DLM99494.html. Pharmaceutical Management Agency. (n.d.). Introduction to PHARMAC. Retrieved from http://www.pharmac.govt.nz/2011/09/16/01INTRO.pdf. Robin, G. (2009). The New Health Policy, Two Penn Plaza, New York, Bell and Bain. Santos-Burgoa, C. et.al. (2006) Preventing Chronic Disease: Public Health Research, Practice and Policy: Implementation of Mexico’s Health Promotion Operational Model. Retrieved from http://www.ncbi.nlm.nih.gov/pmc/articles/PMC2644590/#B1. The Treasury. (2013). Expenditure: Education. Transcultural Nursing. (n.d.). Cultural Diversity in Nursing: Basic Concepts and Case Studies. Wikipedia.(2014). Health care in New Zealand. Retrieved from http://en.wikipedia.org/wiki/Health_care_in_New_Zealand#cite_note-NZ_Herald_10469741-2. Wikipedia.(2014). Pharmaceutical Management Agency. Retrieved from http://en.wikipedia.org/wiki/PHARMAC. Wikipedia.(2014). St John New Zealand. Retrieved from http://en.wikipedia.org/wiki/St._John_New_Zealand. World Health Organization. (2008 September). Global Health Observatory Data Repository. Retrieved from http://apps.who.int/gho/data/node.main. Whyte, S. (2009). How Mexico’s Health care system works. World Health Organisation. Health System. http://justice.govt.nz/global-publications/the new Zealand legal system

Capital Structure Essay

Capital structure is how a company finances its overall operations and growth by using funds from equity or debt (Investopedia, 2012). Of course, every company must determine its preference on its debt-to-equity ratio and determine which capital structure works best for them. Some approaches to analyzing capital structure are: 1.EBIT – EPS: This analyzes the impact of debt on earnings per share (EPS). Optimizing shareholder’s wealth is the optimum goal and therefore, this approach analyzes the high EPS based on an expected range of earnings before income taxes (EBIT). 2.Valuation: Determines impact of debt use on shareholder’s value by determining the level of debt at which the benefits of increased debt no longer outweigh the increased risks and expenses associated with financing (Wenk, 2012) 3.Cash Flow: Analyzes a firm’s debt capacity by using the weighted average of cost of capital (WACC). The WACC is a calculation of a firm’s cost of capital in which each capital source (bonds, stock and other long-term debt) are proportionally weighted to determine how much interest the company has to pay for every dollar it finances (Investopedia, 2012). Look more:  capital budgeting examples essay Part of Competition Bikes’ (CB) main consideration in the decision to merge or acquire Canadian Biking is working capital. Lets use the EBIT – EPS approach to determine how to maximize shareholder return while minimizing the cost of capital. We currently know Canadian Biking’s moderate sales forecast of EBIT figures for the next 5 years (Year 9 – 13), therefore we can apply the EBIT – EPS approach to choose an optimal capital structure. The total of capital sources in each of the 5 years is $600,000. We will use EBIT – EPS to determine which assortment of bonds*, preferred stock, and common stock is the best option to increase Canadian Biking’s EPS. The five alternative capital structures include: Option 1: 100% Bonds (fully financed) Option 2: 50% Preferred Stock & 50% Common Stock (no bonds) Option 3: 20% Bonds & 80% Common Stock Option 4: 40% Bonds & 60% Common Stock Option 5: 60% Bonds & 40% Common Stock *Annual bond interest rate is 9% After using the EBIT – EPS approach using the forecasted EBIT amounts for Years 9 through 13, we can average the EPS for each of the 5 years to determine which capital structure produced the highest EPS. The EPS averages computed for the capital structure options are: Option 1: Average EPS = .0452 Option 2: Average EPS = .0542 Option 3: Average EPS = .0526 Option 4: Average EPS = .051 Option 5: Average EPS = .0494 Based on the EBIT – EPS approach, the recommended capital structure is option 2, â€Å"50% preferred stock & 50% common stock†. This is the best capital structure mainly because there are two things to consider: 1) long-term debt and associated interest expense and, 2) equity and # of common shares. Option 2 is the best capital structure because there are no bonds and therefore, no interest expense. For example, if we look at option 1 in Year 9, and the bond interest is 9%, then the bond interest expense is $54,000 (.09*600,00). This lowers the income before taxes by $54,000. Although companies can finance debt and use the interest expense deduction to lower their taxable income, it doesn’t make sense for Canadian Bikes to fully finance their capital, because the interest expense costs outweigh the benefit of the tax deduction, resulting in a significant decrease in total income available for common stock. Additionally, because the capital structure consists of 300,000 shares of preferred stock, the company must pay dividends of 5%, reducing the company’s total income available for common stock by $15,000 (.05 * 300,000). Although this reduces the total income available for common stock, the company will maximize its EPS by only having 50% capital in common stock. This reduces the total number of common shares outstanding, which means less shares to divide the total income among. Therefore, Option 2 is the most optimal capital structure that considers minimizing long-term  debt expenses and the optimal number of common shares in order to maximize shareholder return. CAPITAL BUDGETING: Competition Bikes’ is considering building a manufacturing facility in a new Canadian location. The total investment for this project would be $600,000 USD. This consists of $400,000 to build the facility and an additional $200,000 in working capital to support operational costs. The company has projected cash flows over the next five years; therefore we can use cash flow budgeting methods such as net present value (NPV) and Internal Rate of Return (IRR) that consider time value of money for long-term investments (Pearson Education, Inc., 2008). Net present value analyzes the profitability of a project by determining the difference between the present value of the project’s cash inflows and outflows followed by subtracting the initial investment. (Investopedia, 2012). The decision rule applied to NPV is fairly simple, if the NPV is positive, invest; if the difference is negative, do not invest. Competition Bikes applies NPV to forecasted low and moderate sales for the next 5 years. After using the forecasted sales for low demand, the total present value (after subtracting cash outflows from inflows) is $560,719. If we subtract the initial investment of $600,000 from this amount, the NPV is -$39,281. This is a significant warning that the company should not proceed in building a manufacturing facility. On the other hand, if we use the forecasted sales for moderate demand, the total present value is $608,447. If we subtract the initial investment of $600,000, the NPV is $8,447. Therefore a positive NPV indicates the company should proceed with building the manufacturing facility. The biggest concern is determining which NPV to lean towards based on low or moderate sales. Unfortunately, the risk of having low sales outweighs the profitability benefit of having moderate sales. It is too risky for CB to move forward with the investment based on the NPV of low sales (-$39,281). In order for the company to profit from this investment, CB would need to have a moderate sales demand at minimum! The present value in NPV is calculated using an interest rate, also known as the required rate of return. CB’s required rate of return is 10%. When this interest rate is altered or calculated to make the total present value equal to the initial investment, the NPV becomes equal to zero; this is called the internal rate of return (IRR) (Pearson Education, Inc., 2008). The IRR is what a company can expect to earn from investing in the project and the higher the IRR, the more desirable the investment. The calculated IRR for low demand cash flows is 8.2% and the IRR for moderate demand cash flows is 10.4%. Based on these IRR figures, the company should not pursue the capital investment because the average IRR between both low and moderate sales is 9.3%. This is below the company’s required return on capital (hurdle rate) of 10% to pursue a capital investment. Again, the company would need to have a moderate sales demand, at minimum for this capital investment to be profitable and should therefore not pursue building a new manufacturing facility. WORKING CAPITAL: CB must effectively obtain and manage working capital for the expansion of the operation. CB must first look at their operating cycle, cash conversion cycle and free cash flow factors in order to improve production and management of working capital. Let’s discuss the company’s current status of each of the working capital and cash flow factors and determine how the company can improve in these areas. First, the operating cycle involves CB sending the distributor a monthly invoice for all raw materials ordered with terms of net/30 days. This can be improved by renegotiating the payment terms will distributors to net/15 days. This would increase cash flows by improving payment turn around time and accounts receivable collections. Additionally, the company can improve its relations with its distributers to increase effectiveness of its collection process. Another operating cycle factor is ordering and paying for inventory. Currently, the company pays for inventory in the month following production and all inventory ordered for the month is used leaving inventory levels (at the end of each month) at consistent levels. In order  to improve working capital the company should utilize and lower its year ending inventory balance. For example, at the end of Year 8, the company had $91,573 worth of inventory left over. The company should utilize the current inventory on hand before ordering similar raw material items. This will decease cash flows and leave fewer inventories on hand at the end of the year. Currently the average time in inventory is 25 days. This is a substantial turnaround time currently, however in the future, the company can consider replacing labor workers with fixed asset items to improve production time. This will satisfy customer demand by decreasing delivery time and improve cash flows by invoicing customers more frequently than 25 days after production. CB’s cash conversion cycle factors also impact working capital. Currently, the CB’s suppliers invoice at the end of the month for orders that month with terms of net/15. CB does an excellent job of preserving its cash flows by paying the invoices on the 15th of the month following the order.. CB can improve its working capital by negotiating for longer payment terms, i.e. net/30 days, allowing for more time for the company to earn money to pay their invoices. If this is not possible, the company can improve its forecasting measurements for ordering supplies and order the majority of the supplies needed for the month at the beginning of the month. This would increase the amount of time the company has sufficient supplies on hand without having to pay more money, (because the suppliers will still invoice for the orders at the end of the month, regardless of how early in the month the supplies were ordered). This can increase working capital because it acts as a contingency plan, to reduce the likelihood of running out of supplies, avoiding delays, or ordering supplies in excess. Free cash flow factors also affect CB’s working capital. Currently, the company recognizes depreciation in both manufacturing overhead and as depreciation expenses depending on the fixed asset. The company can use their depreciation data to increase management of cash flows by predicting when the company will have to spend a significant amount of money to replace an asset when its useful life expires. This will prepare CB for those unwanted – although necessary – fixed asset costs. Currently the  corporation’s marginal tax rate is 25%. The company can consider obtaining working capital by financing debt. This will leave the company with an interest expense at the end of the year, which is deductible from gross earnings and results in paying lower taxes. After CB improves its working capital, let’s discuss how CB can use its working capital for the lease vs. buy option for a factory building in Canada. CB can use its working capital to cover the $50,000 down payment (or buy out option if they decide to lease) and $200,000 for operational costs of the new factory. According to the data provided for the lease vs. buy option, the lease option will preserve cash outflows of $12,339, (purchase cash outflows are $333,999 and lease cash outflows are $321,660). Therefore, the company should lease the manufacturing facility to preserve cash outflows. Leasing the facility will also allow CB to deduct annual interest payments (6% interest) from the gross earnings to lower their tax payments. This will increase the company’s net earnings at the end of the year, also resulting in higher retained earnings and increased shareholder value. MERGER OR ACQUISITION: CB should consider many factors when deciding to merge or acquire Canadian Biking. Let’s analyze the pros and cons between a merge vs. acquisition and determine what the best move would be for CB. First off, if the company were to merge with Canadian Biking, the potential EPS would increase by approximately .021. This shows potential for increased ownership earnings, but is it significant enough? At the same token, the price/earnings ratio for Canadian Bikes at the end of Year 8 was 9 and CB’s was 70. This shows that CB’s current investors are expecting greater earnings in Year 9 and are willing to pay $70 for $1 of current earnings. This is not the case with Canadian Biking’s investors. Unfortunately a low P/E ratio of 9 indicates that investors are not expecting a significant growth in company earnings. This raises a concern if the merge will result in a potential increase of .021 in EPS. On the other hand, a merge would result in lower costs because CB would not be purchasing Canadian Biking outright. Canadian Biking also has a lower cost competition bike that can decrease production costs and complement CB’s current bike model being offered. This will result in  greater net earnings and cash flows. If the company were to acquire Canadian Bikes, CB can expect a gradual increase in cash inflows over the next 5 years. However, the current offered sales price for Canadian Biking is $286,000; this is 30% more than what the company was valued at, at the end of Year 8. Although CB has enough working capital to make the purchase, it would take 5 years of gradually increasing cash inflows to recoup the price tag of $286,000. This means it could take approximately 5 years, before shareholders saw a significant increase in earnings per share. Based on the pro and cons, CB should merge with Canadian Bikes to lower their production and delivery costs, increase net income, EPS and cash flows, and preserve working capital. The price to acquire Canadian Biking is simply unreasonable based on predicted cash inflows over the next 5 years. The merger will enhance CB’s market position in Canada by having a local distributer to handle all customer orders and provide cost effective and great customer service to the growing Canadian market. References Investopedia. (2012). Capital Structure. Retrieved from http://www.kotzinvaluation.com/articles/capital-structure.htm Investopedia. (2012). Weighted Average Cost of Capital. Retrieved from http://www.investopedia.com/terms/w/wacc.asp#axzz2Azkq4E2V Investopedia. (2012). Net Present Value. Retrieved from http://www.investopedia.com/terms/n/npv.asp#axzz2Azkq4E2 Pearson Education, Inc.. (2008). Horngren Accounting. Retrieved from http://wpscms.pearsoncmg.com/wps/media/objects/6716/6877765/hha08_flash_main.html?chapter=null&page=1042&anchory=null&pstart=null&pend=null Wenk, D. (2012). Using an optimal capital structure in business valuation. Retrieved from http://www.kotzinvaluation.com/articles/capital-structure.htm

An Introduction to DNA Transcription

Why I Don t Bring The Money Tomorrow - 1004 Words

â€Å"Bring the money tomorrow, unless you want to drop out of school.† Those words are that I always hear from my teacher in every end of the month when she yells to kids that are struggle to pay off the money for school’s cost; sometime I am one of them. In Myanmar, there are children that are in the street, those who are supposed to be inside the school building, learning instead of work labor. I see these in every daily basis, in my lower class society in Myanmar. I used to have a thought that, there is no way I can be educated and treated well, if I don’t have money in my life, but I own a moment that my idea and thought are converted into air that took place in my brain for my whole life. Day by day the struggles were heavy as I lived my life in the small village of Myanmar. 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