Porter Five free essay sample

In 1941 was when Coach was first established as a small family run leather goods manufacturing business. Coach was seen as a premium brand that had superior leather goods. In 1980 Coach opened its retail store. In 1985 when Coach was sold to Sara Lee and experienced rapid expansion the company started to include accessories, luggage, and brief cases. When Karloff joined Coach he thought that by having a luxury market he thought this would be a good source of competitive advantage in the luxury market. Today Coach is â€Å"known for one of the leading American marketers of luxury accessories in the U. S. and international market. † (Trefis Team, 2013) The products that are by Coach include purses, footwear, jewelry, travel bags, fragrance, wallets, and business cases to name the few. In this reading information will be discussed on where Coach, Inc. needs to gain or lose access by using the Porter Five Force (Porter, 2008)Analysis. We will write a custom essay sample on Porter Five or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page (Trefis Team, 2013) Porter Five Forces include the following forces that shape industry competition that will be discussed: New Entrants Competitive Rivalry Bargaining Power of Buyers Bargaining Power of Suppliers Threat of Substitute Products or Services. (Porter, 2008) New Market Entrants The threats of New Market Entrants were at a medium intensity. A company like Coach has a distinct advantage because of its â€Å" affordable luxury†, higher prices, but most importantly the brand image that attract the medium to high class income. (Trefis Team, 2013) These consumers tend to stay with what product they know and trust. The market strategy that Coach has also helps from new entrants such as marketing for the more mature core consumers and not marketing for the young consumers. This is done deliberately to avoid losing the old consumers from the young trend. (Trefis Team, 2013) Competitive Rivalry As of September 13, 2013 the highest intensity that Coach had and was the most threat was the Competitive Rivalry Within The Industry and occupied 28 % of the handbag market share in the U. S. The industry players that compete with Coach are Louis Vuitton, Gucci, Longchamp, Vera Bradley, Fossil, Chanel, Guess, Marc Jacobs, Juicy Couture, etc. â€Å"The fashion companies that is the most threat to Coach, Inc. are Michael Kors, Tory Burch, and Kate Spade which had a sales growth of 64. 5%, 55. 1%, and 47. 6% which Coach only had a 6. 6% growth. † (Trefis Team, 2013) Coach believes to increase competition is to have a transformation strategy that evolve a global lifestyle brand anchored in accessories but will not see a change until at least two quarters. Another strategy will to increase in private labeling. (Trefis Team, 2013) Buyer Power Coach intensity for Buyer Power was at a medium intensity for the month of September 2013 and sold through both direct-to-consumer channel and wholesale channel. This reports that Coach is very limited since â€Å"the wholesale customers accounts for only 10% of the total sales. † (Trefis Team, 2013) Looking at the bargaining power of end-customers will most likely stay moderate due to its high quality products and brand image. Some of the competitors have not been able to increase sales and customer base while raising prices at the same time is an advantage that Coach also have with the bargaining power. (Trefis Team, 2013) Supplier Power Bargaining Power of Supplier for Coach was at a low intensity for the month of September 2013 due to not manufacturing its own products. â€Å"Coach relies on several countries for manufacturing to name a few are China, Vietnam, India, Philippines, Thailand, Italy and the United States. † (Trefis Team, 2013) Coach has and advantage to have the bargaining power to negotiate prices since the suppliers like to have contracts with Coach and if one wants to increase price Coach can go to another supplier. (Trefis Team, 2013) Product Development The threat of product development and the threat of substitute products are at low-medium intensity. The two types of substitute that could be a threat are alternative brands and counterfeits. (Trefis Team, 2013) The key factor of driving consumers to alternative brands is if and when Coach would have a quarter of poor quality of product that Coach offers. The counterfeit product would be a threat to Coach in the market place that produces the product and the quality is very poor which could happen in an emerging country like China. (Trefis Team, 2013) Coach, Inc. Analysis using Porter Five Forces

Selected Quotes From Entertainer Madonna

Selected Quotes From Entertainer Madonna Much-acclaimed and controversial Madonna has lived a public life deliberately outrageous, and her words reinforce and further define her public image. Madonna has also spoken out on how she relates family and a private life to her carefully-crafted public image. Selected Madonna Quotations I am rich and famous. I have a talented and gorgeous husband and two beautiful children. I could go on. To be brave is to love someone unconditionally, without expecting anything in return. To just give. That takes courage; because we dont want to fall on our faces or leave ourselves open to hurt Never forget to dream. A lot of people are afraid to say what they want. Thats why they dont get what they want. Im tough, Im ambitious, and I know exactly what I want. If that makes me a bitch, okay. Sometimes you have to be a bitch to get things done. I became an overachiever to get approval from the world. I wont be happy till Im as famous as God. I always thought I should be treated like a star. The fact of the matter is that you can use your beauty and use your charm and be flirtatious, and you can get people interested in your beauty. But you cannot maintain that. In the end, talent is the only thing. My work is the only thing thats going to change any minds. I love horses. I think I may have been one of Henry VIII’s knights in another life, riding through a great forest. Listen, everyone is entitled to my opinion. I dont care anymore if people dress like me, now I want them to think like me. If I was a girl again, I would like to be like my fans, I would like to be like Madonna. Better to live one year as a tiger, then a hundred as sheep. I never wish I had a different life. I am lucky to be in the position of power that I am in and to be intelligent. Being blonde is definitely a different state of mind. I cant really put my finger on it, but the artifice of being blonde has some incredible sort of sexual connotation. Men really respond to it. I love blonde hair but it really does something different to you. I feel more grounded when I have dark hair, and I feel more ethereal when I have light hair. Its unexplainable. I also feel more Italian when my hair is dark. There are moments when I cant believe Im as old as I am. But I feel better physically than I did 10 years ago. I dont think, Oh God, Im missing something. I have the most perfect belly button. When I stick my fingers in it, I feel a nerve in the center of my body shoot up my spine. Ive always wanted to be taller. I feel like a shrimp, but thats the way it goes. Im five-foot four-and-a-half-inches. Thats actually average. Everything about me is average. Everythings normal, in the books. Its the things inside me that make me not average. Its not my nature to just kick back. I think passive beauties have their place in the world. Its hard for me to relate to that. People think they will wake up one day and Ill be gone. But Im never going away. I have the same goal Ive had ever since I was a girl. I want to rule the world. I sometimes think I was born to live up to my name. How could I be anything else but what I am having been named Madonna? I would either have ended up a nun or this. To me, the whole process of being a brush stroke in someone elses painting is a little difficult. Poor is the man whose pleasures depend on the permission of another. I stand for freedom of expression, doing what you believe in, and going after your dreams. When Im hungry, I eat. When Im thirsty, I drink. When I feel like saying something, I say it. That we are responsible for our own fate, we reap what we sow, we get what we give, we pull in what we put out. I know these things for sure. Id like to think I am taking people on a journey; I am not just entertaining people, but giving them something to think about when they leave. I am my own experiment. I am my own work of art. I try to have thick skin, but every once in a while I read something that someone says about me, and its so slanderous and moralistic and it has nothing to do with my music. I want to be like Gandhi, and Martin Luther King, and John Lennon... but I want to stay alive. Id love to be a memorable figure in the history of entertainment in some sexual, comic, tragic way. Id like to leave the impression that Marilyn Monroe did, to be able to arouse so many different feelings in people. I think the ultimate challenge is to have some kind of style and grace, even though you havent got money, or standing in society, or formal education. I had a very middle, lower-middle class sort of upbringing, but I identify with people whove had, at some point in their lives to struggle to survive. It adds another color to your character. I think you can be defiant and rebellious and still be strong and positive. Be strong, believe in freedom and in God, love yourself, understand your sexuality, have a sense of humor, masturbate, dont judge people by their religion, color or sexual habits, love life, and your family. I laugh at myself. I dont take myself completely seriously. I think thats another quality that people have to hold on to... you have to laugh, especially at yourself. I do it in most of the things I do, and most of the videos that I make and most of my performances. Even in my concerts there are so many moments when I just stood still and laughed at myself. In everyday life I am quiet and reserved, not the housekeeper type but cool and relaxed. I dont get up in the morning wearing false eyelashes and I dont wear fancy underwear when Im cooking popcorn. Im a nice little ducky. Quotes About Lifestyle Everyone probably thinks that Im a raving nymphomaniac, that I have an insatiable sexual appetite, when the truth is Id rather read a book. I dont trust any man who hasnt kissed another man. I liked my body growing up and I wasnt ashamed of it. I liked boys and didnt feel inhibited by them. Maybe it comes from having brothers and sharing a bathroom. The boys got the wrong impression of me at high school. They mistook forwardness for promiscuity. When they dont get what they want, they turn on you. I went through this period when all the girls thought I was loose and the boys said I was a nymphomaniac. The first boy I ever slept with was my boyfriend and wed been going out a long time. About singer Prince: He reeks of lavender. It turned me on, actually. Because Ive taken my clothes off in public doesnt mean that Ive revealed every inch of my soul. Sometimes I look back at myself and remember things I used to say, or my hairstyle, and I cringe I hate polite conversation. I hate it when people stand around and go, Hi, how are you? I hate words that dont have any reason or meaning. Also I hate it when people smoke in elevators and closed in places. Its just so rude. You have to be patient. Im not. I miss New York. I still love how people talk to you on the street - just assault you and tell you what they think of your jacket. I know the aspect of my personality, being the vixen, the heartbreaker and the incredibly provocative girl is a very marketable image - but its not insincere. You just cant take it seriously. The worst thing about being famous? I think its what everybody says... the lack of privacy and the idea that youre not really allowed to make mistakes and everything that you do is viewed under a microscope. I think my biggest flaw is my insecurity. Im terribly insecure. Im plagued with insecurities 24/7. I have had many challenges in my life, including some very big ones when I was young and Ive learned a lot of valuable lessons along the way. I have seen life from just about every angle you can see it from. I was sacked from Dunkin Donuts for squirting the donuts jelly all over the customers. I wouldnt have turned out the way I was if I didnt have all those old-fashioned values to rebel against. Quotes About Gender and Race Not only does society suffer from racism and sexism but it also suffers from ageism. Once you reach a certain age youre not allowed to be adventurous, youre not allowed to be sexual. I mean, is there a rule? Are you supposed to just die? Im not a feminist, Im a humanist. Straight men need to be emasculated. Im sorry. They all need to be slapped around. Women have been kept down for too long. Every straight guy should have a mans tongue in his mouth at least once. Quotes About Family My father was very strong. I dont agree with a lot of the ways he brought me up. I dont agree with a lot of his values, but he did have a lot of integrity, and if he told us not to do something, he didnt do it either. Im anal retentive. Im a workaholic. I have insomnia. And Im a control freak. Thats why Im not married. Who could stand me? Im a very old-fashioned girl. Marriage is a great thing when its right. And I did celebrate it and embrace it, and I wanted the whole world to know that this was the man I loved more than anything. But theres a price to pay for that, which is something I realize now. Ever since I was in high school, when I was madly in love with someone, I was so proud of that person. I wanted the world to know that I loved him. But once you reveal it to the world, and youre in the public eye, you give it up, and its not your own anymore. I began to realize how important it is to hold on to privacy and keeping things to yourself as much as possible. Its like a runaway train afterwards. I could probably bring up a child as normal as I can live my life. I surround myself with people who dont treat me like a celebrity or a freak or whatever, and I would do the same with my child. Im not interested in being Wonder Woman in the delivery room. Give me drugs. My having a child is not for public consumption. Its not a career move. Its not a performance to be judged or rated. Nor is my role as a mother. Family is everything. Family comes first. Its not what I expected it to be, but nothing ever is. The last thing I want is to raise a brat. We could definitely go down the wrong road. I dont want Lola to have everything she wants. I want her to appreciate things, and not to be presumptuous. I want her to have manners and social graces. Ever since my daughter was born I feel the fleetingness of time. And I dont want to waste it on getting the perfect lip color. Lourdes really is the love of my life. I dont want to traipse around with nannies and tutors. I think its important for children to stay in one place, to socialize with other children. Obviously, my tastes and my priorities have changed, Just because Im a mother doesnt mean Im not still a rebel and that I dont want to go in the face of convention and challenge the system. I never wanted to think in a robotic way, and I dont want my children to think that way, either. I think parents should be constantly questioning society. Quotes About Faith With the crucifixes I was exorcising the extremes that my upbringing dwelt on. Putting them up on the wall and throwing darts at them. And the Boy Toy thing was a joke, a tag name given to me when I first arrived in New York because I flirted with the boys. All the graffiti artists wore their nicknames on their belt buckles. Catholicism is not a soothing religion. Its a painful religion. Were all gluttons for punishment. It is difficult to believe in a religion that places such a high premium on chastity and virginity. When I get down on my knees, it is not to pray. I would like to see the Pope wearing my T-shirt. I loved nuns when I was growing up. I thought they were beautiful. For several years I wanted to be a nun. I saw them as really pure, disciplined, above average people. They had these serene faces. Nuns are sexy. I think that life is a paradox and you have to embrace that in your work and your belief systems ... you cant be a literalist, and thats the trouble that people always find themselves in. Thats why people always hit a wall with any of my stuff, because you cant take it literally. Quotes About Madonna Britney Spears I would really, really, really like to be a legend like Madonna. Madonna knows what to do next, and when shes performing, the audience is just in awe of her. I performed at Mom and Dads party when I was four. Oh my gosh, I was singing a Madonna song and I peed myself. Cher No one knows how to work this business like she does. Susan Sarandon The history of women in popular music can, pretty much, be divided into before and after Madonna. Rosie ODonnell She is no symbol. She is human. More brilliant than most. The real deal. Miley Cyrus Madonna always reinvents herself, and thats what I want to do. Whatever comes my way that sounds good, thats what I want to do. Whether its designing clothes or photography or whatever. Gwyneth Paltrow Shes like an older sister. Everything I have gone through, she went through ten times worse and ten times longer. She gives me good advice about how to say no and take care of myself. Tori Amos Madonna’s sound was made for the dance floor when she epitomized the New York club kid; it got a bit closer to rock when she started presenting herself that way, connected with RB when her image became softer again, went New Age techno when she got into spirituality, and so on. Fashion has become a part of the musical exploration and experience. Sean Penn She was in the process of becoming the biggest star in the world. I just wanted to make my films and hide. I was an angry young man. I had a lot of demons and dont really know who couldve lived with me at the time. I was just as badly behaved as her, so I cant point the finger of blame. Sarah Jessica Parker Madonnas probably the most disciplined person around and so I can only pale in comparison. Its just too impressive. Michael Moore If we had a royal system shed be the queen of Michigan and all the Michiganders would bow down to her, and Im not kidding. Shes a person with a good heart; she does a lot of good for other people. I really admire her. Beyonce It all works for Madonna. I mean, I couldn’t do a lot of the things she does, but it works for her.

The Old Testament and the Church Essay Example | Topics and Well Written Essays - 1500 words

The Old Testament and the Church - Essay Example The beginning of this fulfillment is in the death and resurrection of Jesus in the New Testament (Lesson 6.1). Moreover, in order to better understand the New Testament, one needs to study the Old Testament because the salvation that Jesus brought was first offered to the Israelites. As this salvation was universally offered to Gentiles in the Old Testament, Jesus Christ offered the same salvation to the Gentiles in the New Testament. The new Passover that happened with Christ in the New Testament was the same as the covenant that God made with Moses and the Israelites during the Passover in the Old Testament (Lesson 6.1). Another reason for the need to understand the Old Testament before one can fully comprehend the New Testament is the unity between the two Testaments in terms of Jesus Christ as the Word of God incarnate. The Old Testament was actually devoted to the Holy Spirit speaking through the prophets and predicting the arrival of Christ through figurative language. The fulf illment of the word of the prophets in the Old Testament is the birth, death and resurrection of Jesus Christ in the New Testament (Lesson 6.1). Question 2. Describe with examples the use of the term â€Å"scriptures† in the New Testament. ... Examples of the mention of â€Å"Scriptures† by Jesus include the following passages: â€Å"Scripture cannot be annulled† (Jn. 10:35), â€Å"This Scripture must be fulfilled in me† (Lk. 22:37), and â€Å"But how then would the Scriptures be fulfilled which say it must happen this way?† (Mt. 26:54). These passages clearly show how much Jesus acknowledges the authority of the Scriptures of the Old Testament while indirectly telling the reader that He is the fulfillment of these Scriptures. Paul, in his epistles also used the term â€Å"Scriptures† repeatedly. He mentioned in 1 Cor. 15:3-4, â€Å"†¦Christ died for our sins in accordance with the scriptures† and â€Å"that he was raised on the third day in accordance with the scriptures.† From this passage, we can see that Paul believed that Jesus was the fulfillment of the prophecies of the Scriptures. Moreover, there are many other instances where the word â€Å"scriptures† a re quoted in the New Testament, such as in the case of 2 Peter 3:16, where it states â€Å"There are some things in them [the letters] hard to understand, which the ignorant and unstable twist to their own destruction, as they do the other scriptures† (Lesson 6.1). This specific passage, however, is trying to tell us that the scriptures can be â€Å"twisted† or modified but they are not destroyed for it is those who twist them that undergo destruction (Lesson 6.1). This means that the scriptures themselves can never be destroyed, but a wrong interpretation of them can lead to the destruction of the one who misinterprets it. Question 3. Explain why the Church teaches the unity of the Old and New Testaments. The Church teaches the unity of

Investment Alternative Benchmarking for Bernard Lester Case Study

Investment Alternative Benchmarking for Bernard Lester - Case Study Example Before 1982, the company is strictly undertaking the production of vehicles while a sales arm named Toyota Motor Sales Company is in charge in marketing its products to end consumers. It should also be noted that there is a clash of culture between the two companies. While Toyota Motor Company prioritizes efficient cost management, the sales arm is concerned with customer satisfaction. Thus, the idea of merger between the two becomes somewhat impossible. However, in 1982 Toyota Motor Company merges with its sale arm forming a 120 billion yen corporation (Toyota in Merger 1982). In the case of Lester, it should be noted that it is the sales arm of Shang-wa in the United States. Having formed a strategic alliance with each other, both companies are contemplating in combining their resources for their mutual benefit through a merger. The decision of fusion between the two business organizations has been met by difficulties of how to merge their different cultures. In the end, however, the efforts come into fruition with the emergence of culture focused on efficiency and creativity (Dillon 2006). Ford Motor Company lags behind Toyota in terms of car sales gaining it the reputation of the third largest automaker in the world. In 2006, the company has been reported to be in discussion for a possible merger with one of its competitor General Motors (Bunkley 2006). However, in the end, the automotive industry saw that this venture failed to materialize because of the lack of strong motivation and benefits which can be derived. Like the real world example from Ford, Lester as well as Shang-wa wants to be acquired by their competitors namely TEC and Avral, respectively. Like General Motors, these acquirers want to beef up their portfolio with companies which have already built a strength of their own. The failure of the proposed merger between the Ford and General Motors did not change the status quo. Ford still operates and competes with General Motors and vice versa. Both business organizations retain the manufacture and distribution of their product lines as well as exercise autonomy in their decision making. Step 2. Toyota has been known in the business world because of its commitment in pursuing manufacturing and operational efficiency. Its quest in finding the most cost efficient manufacturing process is rewarded by its discovery of the lean manufacturing system which makes use of the Just-in-Time inventory system (Dillon 2006). In this manufacturing philosophy, Toyota eliminates wastage or non-value adding processes or resources within its value chain in order to economize. However, it also maintains the quality of its product by ensuring that creativity is not compromised within the manufacturing process. In the Just-in-Time inventory system, cars are manufactured based on consumer demand. Parts are semi-assembled and are finally put together by a team whose members have diverse specialization. Employee empowerment has also been important as Toyota allows their employees to take charge and make their own decision if the need arises. The decision of Toyota to merge with its distribution arm highlights its strategy of pooling resources in order

DNA sequence analysis, primer design, protein expression and Essay

DNA sequence analysis, primer design, protein expression and mutagenesis assessment - Essay Example RecA is a recombinant gene and when in the presence of single stranded DNA, can behave as a catalyst in the hydrolysis process of ATP. It can also function in ATP dependant reactions such as Duplex DNA’s uptake of single stranded DNA and homologous single stranded DNA’s ATP propelled hybridization. (NCBI, 2008). Its function is likened to the mechanism and composition of copper amine oxidase, in that it acts in microbes to make use of amine substrates considered to be unusual such as carbon or nitrogen. As mentioned previously, recA resides in the presence of single stranded DNA. Protein secretion can be said to have taken place in the presence of single sequencing. The protein recA is unique due to its function as a copper ligase and its modification which takes place after the translation process. Post translation, a residue of tyrosine 412 will yield cofactor TPQ. Lysine 83 is also a residue of the reaction. In the event that it is decided to undertake mutagenesis in order to mutate lysine 83 into alanine; we would quickly see that reaction outcomes would be quite different. When mutation (genetic alterations) take place, the chemistry involved with the organisms and molecules become different even if the change is slight. With quick-change mutagenesis, we are able to target site changes which act to alter specific protein outcomes due to changing amino acid sequences. Changing lysine 83 through mutagenesis to alanine may be desirable for more than one reason. In many instances, changing out lysine for alanine can in fact, delay certain entropic effects such as crystallization, such as in the case of e. Coli where crystallization formation can be essential for post mutation testing. Lysine production in genetically engineered bacteria, will tend to promote fermentative production of other amino acids. Replacing residue lysine 83 with alanine 83 however, may be a wise alteration as many organisms can’t survive in the absence of

Why is investment appraisal process so important

Why is investment appraisal process so important Investment decisions are of critical importance to all companies, since they determine both their potential to succeed and their ultimate cost structure. Investments usually implicate high initial cash outflows and thus tie up substantial funds. Sound investment decisions are crucial, therefore. Yet, according to a highly complex and fastly changing business environment they remain a challenging management task. A capital investment appraisal is used to make sure value for money with regard to developing an estate strategy and capital project. It is not an indication of loss or profit for the company as a whole but rather a comparision of costs with regard to those areas of the estate where there is an opportunity or a demand for change. (Baum T., Mudambi R., 1999). Capital investment decisions are the important criteria to be used by an organization in order to apply its corporate strategy. Because of this, it has to include strategical decisions, marketing decisions and human recources implications that are an overall business review. These decisions include; expansion, cost reduction, market development, acquisitions and disposals, lease or buy. It is possible to evaluate the validity of the opportunities for an investment appraisal by comparing the expected benefits with the anticipated costs as its purpose. ( Kind J, 1999 p.122) (b) What is the payback period of each project? If AP Ltd imposes a 3 year maximum payback period which of these projects should be accepted? Payback for Project A Years Net cash flow Cumulative net cash flow  £000  £000 0 (110) (110) 1 20 20 2 30 50 3 40 90 4 50 140 5 70 210 Total 3+=3.4 years Payback for Project B Years Net cash flow  £000 0 (110) 1 40 2 40 3 40 4 40 5 40 Total = 2.7 years c) What are the criticisms of the payback period? Payback is a type of measurement that indicate the necessary period of time required for the recovery of the initial investment. There is a necessity of clarification that the payback can not be used as an only decision criterion because it does not include any profits or cash flows occurring after the payback period. Second, payback gives equal weight to all cashflows before the cutoff period, despite the fact that the more distant cashflows arc less valuable.( Mott, 2005, p 217.) It is a compulsory for a company to determine a proper end time for the investment in order to use payback method. Too many short-lived projects will be chosen by the company rather than long term ones in case of using the same date without taking into account the project life. Also it can be considered as an effective auxiliary investment appraisal tool since some possible risks that may arise from an investment project can be indicated by payback. As paralel to this, it might be thought as an important factor for the consideration of the economic life of a project as a consecuence of a sensitivity analysis. (Gà ¶tze U, 2008, p.46) Although it has weaknesses, payback will be used as one of the main decision making tecniques because the simplicity is the keynote of this investment appraisal method. And also it has short term perspective that leads decision making. In case of consideration of more complex projects,we should use advanced analysis like Net Present Value method and think carrefully what might be at risk. ( Dyson, 2007, p.422) (d) Determine the NPV for each of these projects? Should they be accepted explain why? NPV for Project A Years Net cash flow Discount factor Present value  £000 12%  £000 1 20 0.893 17.86 2 30 0.797 23.91 3 40 0.712 28.98 4 50 0.636 31.8 5 70 0.567 39.69 _______ Total present value 141.74 Less: Initial cost 110 Net present value 31.74 NPV for Project B Years Net cash flow Discount factor Present value  £000 12%  £000 1 40 0.893 35.72 2 40 0.797 31.88 3 40 0.712 28.48 4 40 0.636 25.44 5 40 0.567 22.68 _______ Total present value 144.2 Less: Initial cost 110 Net present value 34.2 Both projects should be accepted, since both Net Present Values are positive according to ACCEPT-REJECT decision making techniques. If we use RANKING decision making techniques; Project [emailprotected] 12% Discount Rate  £000 B 34.20 A 31.740 As it can be seen from the rankings Project B is more preferable with a higher NPV. (e) Describe the logic behind the NPV approach. NET PRESENT VALUE METHOD One of the most widely known and used technique of financial analysis is Net Present Value method. It is a comparision of the value of money now and that of the future. A pound today is precious more than a pound in the future, because the buying power of the future money is eroded by the effect of inflation. Importance of Time Value of Money in Financial Management; The time value of money is the fundamental for financial management because it is the aid of determining present value in todays paund of the future net cash flow of a project. Therefore you can obtain a comparision of that sum of money with necessary amount of money to carry out the project. Any of financial decisions must not be taken in case of the equality of inflows and outflows because of uncertain future conditions. In order to purchase assets the inflow must be above the outflow. If the purpose is to raise the funds then outflow must be kept more than the inflow. And it is required that the inflow and outflow can be matched. In order to make effective financial decision, the flows expected in the future must be adjusted on the purpose of being compared with the current ones.( Ramagopal, 2008, p.221) The procedure of Net Present Value Calculation; Net present value method can be used to examine the profitability of all investment projects. If the net present value > 0 The project is feasible If the net present value < 0 The project is not feasible If the NPV is greater than the cost, the project will be gainful for the company. In the case of having more than one project, you should calculate Net present value of all, and the superior one that has the most difference between Net present value and cost must be chosen. Project that its net present value is bigger than zero, are considered to raise the value of the company. (Mott, 2005, p216) The advantages of this method; It puts forward the value of 1 pound of today is more than that of 1 pound in the future. Because the return of todays investment will be received earlier than any of the future investments. The estimated cash flows and the opportunity cost of capital are examined by this method. In order to calculate the net present value for the whole project, the current values of the cash inflows and outflows could be added since present values are todays value. ( Kind J, 1999 p.127) The weakness of the model is that cash flows are accepted to be seen on the last day of the year depending on discounting once a year. On the other hand the assumption of the constant cost of capital during the whole life time of the project can be considered as the another weakness of the method. (Proctor, 2009, p.192) (f) What would happen to the NPV if: (1) The cost of capital increased? If the cost of capital increases, discount rates decrease, which means that present values of cashflows also decrease. As a result, NPV will also decrease, because there will be a decrease in the sum of total present values of cash flow (2) The cost of capital decreased? Decreasing the cost of capital will increase discounting rates, which means an increase in total present value of cashflows. Depending on this increase, NPV which includes the sum of total present values of cashflows will inevitanly increase. (g) Determine the IRR for each project. Should they be accepted? The net present value is most popularly alternated with internal rate of return (IRR). IRR is defined as the discount rate or cost of capital at point where the benefits are balanced with its costs, the net present value is equal to zero and so, can be considered as break even rate. It can be used as measure of capital efficiency. Advantages of IRR Liquidity is considered in this method. It emphasize timing of net cash flow. The exact % return on investment is given NPV FOR PROJECT A: Years Net cash flow Discount factors Present value  £000 17% 22% 17% 22%  £000  £000 1 20 0.855 0.82 17.1 16.4 2 30 0.731 0.672 21.93 20.16 3 40 0.624 0.55 24.96 22 4 50 0.534 0.451 26.7 22.55 5 70 0.456 0.37 31.92 25.9 _______ ______ Total present value 122.61 107.01 Less: Initial cost 110 110 Net present value 12.61 (2.99) IRR= positive rate + -range of rates= = 17%+-5% =21.04% At 21.01% discount rate the NPV is equal to zero. NPV FOR PROJECT B: Years Net cash flow Discount factors Present value  £000 22% 27% 22% 27%  £000  £000 1 40 0.82 0.787 2.863 2.581 2 40 0.672 0.620 3 40 0.55 0.488 4 40 0.451 0.384 5 40 0.37 0.302 _______ ______ Total present value Less: Initial cost 110 110 Net present value 4.52 (6.76) IRR= positive rate + -range of rates= 22%+-5% =24% Since both projects IRR are bigger then cost of capital; both of them can be accepted. (h) How does a change in the cost of capital affect the projects IRR? The IRR value of the project is not affected by a change in the cost of capital. The point that must be taken into account here is that IRR value must not be below cost of capital for the safety of the investment. (i) Why is the NPV method often regarded to be superior to the IRR method? The NPV calculation will usually always provide a more accurate indication of whether or not a project should be undertaken or not.However, since IRR is a percentage, and NPV is shown in money, it is more appealing for a manager to show someone a particular rate of return, as opposed to money amounts.

Handheld Mobile Devices Essay -- Technology

Research has shown that use of hand held mobile phones while driving can increase the risk of crash by up to 23 times (Vic Roads, 2009). In an attempt to curb the number of people taking such risks, TAC launched a campaign to bring awareness to the problem of distracted drivers, many of whom are distracted by hand held mobile phones, commonly used to talk or text while driving. Considering the statistics regarding the chance of crash when engaging in such activities and the prevalence of the problem, TAC has launched the campaign with hope of creating attitude change. The TAC advert, witnessed by participants of this study, shows various situations of distracted drivers. Two situations of specific relevance to this study, talking on a hand held mobile and texting whilst driving. In all occasions the danger is present, in the final situation the danger is realised via the crash. ‘Attitude’ can be defined as a set of beliefs, feelings, behavioural tendencies and evaluations, that are mostly enduring, and are positive or negative in nature, regarding some person, group, object, issue, event or symbol (Vaughan and Hogg, 2011). This reveals the problematic nature of any attempt to use persuasion to force attitude change. While enduring, resilient attitudes are unlikely to be easily altered, it is not impossible to do so. A dual process theory was proposed by Petty and Cacioppo (1981), the Elaboration Likelihood Model in which, attitude change can occur via two processes. The Elaboration Likelihood Model postulates two processing routes of persuasion, the Central Route, and the Peripheral Route. The former refers to more careful thought utilising more cognitive resources, while the latter, less motivated, less car... ...erely the hand held mobile. It has been speculated that laws pertaining to banning of mobiles whilst driving should include hands free mobiles. Future research should utilise this information and perhaps measure attitudes regarding all phone use whilst driving rather than only hand held phone use. This study has utilised the two processes of elaboration set out in the Elaboration Likelihood Model, to measure the success of the TAC campaign, in changing attitudes of favourability towards the dangerous practice of using a hand held mobile whilst driving. The results of the study show that attitude change is possible via both Central and Peripheral Route processing, as measured before and after viewing the TAC advertisement. Central Route processing has a clear advantage and was significantly more effective than Peripheral Route processing in attitude change.

Importance of Prayer

Importance of Prayer What is Prayer Prayer is the utterance from your spirit to God. In simple terms, talking to God is called prayer. It's the simple opening of one's heart to our Father in Heaven. It's coming to Him and telling Him everything in your heart. Then, why do we find praying so complicated? Those of us who say, ‘I don't pray because I don't know how to pray, haven't understood that prayer is just being yourself and talking to God with honesty and sincerity. When I was growing up, I found prayer very boring. It's because it just seemed like an endless stream of meaningless words to me.However, when I truly understood what prayer meant (that it's speaking to God with complete honesty, without any kind of masks or worrying about how and what you talk), my whole perspective about prayer changed. Prayer today is not a burdensome task that I have to complete everyday, but a joyful time I spend with my Lord. It's such a privilege to be able to talk to the King of Kings; t o share my innermost thoughts, my deepest desires! However, this privilege came at a price. Jesus Christ died on the cross for me, for my sins, just so that I could enter the throne of God's grace with confidence. So is it for you!What is the Importance of Prayer Drawing Nearer to God†¦ If you do not pray, if you do not talk to God, you can never learn more about who He is. To understand the Father heart of God, we need to pray. To lead a life of intimacy with God, we need to pray. In John 15:15, Jesus says He no longer calls us his servants, but calls us His friends. Moreover, in 1 Corinthians 3:9, God calls us His fellow workers. But, how can we be His fellow workers if we refuse to talk to Him? Tool to Bind Powers of Darkness†¦ Prayer is powerful and you need to remember, the words uttered in prayer have wonder-working power.Do not underestimate the power of prayer. The Devil is constantly trying to discourage us, demoralize us and weaken our faith in God. When tempted to fall into sin, pray. Prayer gives us the power to overcome. Pray gives us the strength and the faith to finish the race marked before us in this life. Prayer Changes You†¦ Why are parents so worried about the company their children are in? It's because they know the company you are in, can influence you. The influence may be positive or negative, but there sure is an influence.The more time you spend with God, the more your face will shine with the radiance of God. The more your nature will resemble the loving nature of God. Our habits and lifestyles change. We no longer live selfish lives, but love others with a pure and sincere heart. Prayer changes us from the inside, which soon gets reflected on the outside. Prayer Protects†¦ It is important to pray for God's protection on your family everyday. Pray for your parents, spouse, children every single day. Parents have the responsibility to make their kids understand the importance of prayer.Children are extremely vulner able and the choices they make during their growing up years will shape their future. Pray for God's protection upon their young lives. Prayer Heals†¦ Jesus healed the sick while He was on Earth. He also gave authority to His disciples to heal. Jesus Christ has also given each one of us who believes in Him, the authority to heal. Pray for emotional, spiritual and physical healing for yourself and for those around you. Walk towards Him and you will be healed. Prayer Brings Developments†¦ There's no point in getting frustrated. One must fast and pray.There is power in fasting and praying. Fasting and prayer is powerful. Fast and pray on a regular basis (weekly or more frequently if possible). Select a time when you have the house to yourself, so you will be free to sing and pray aloud. Start by singing a few choruses, then begin reading the Bible. After that pour your heart out to God and share your burdens openly. Then read some more from the Bible. Don't stop fasting and p raying even if you feel the breakthrough is taking too long. Continue fasting and praying. You will receive the answers to your prayers.

Strontium - Elements in Fireworks

Strontium - Elements in Fireworks Metal salts are important in fireworks and other pyrotechnics. One of the most common metallic elements is strontium, which is atomic number 38 on the periodic table, with element symbol Sr. However, the pure metal isnt used. Fireworks are made using strontium salts, especially  strontium carbonate (SrCO3) and strontium nitrate (Sr(NO3)2). Strontium nitrate acts as both a colorant (the strontium part) and an oxidizer (the nitrate portion). Strontium salts impart a red color to fireworks. Strontium compounds are also important for stabilizing fireworks mixtures. Youll find it in emergency flares, including road flares and flare guns. Is Strontium Toxic? Strontium is one of the safest metals found in fireworks (biologically speaking). As with other metals, it has its uses, but overexposure can lead to problems. Strontium chloride is found in some toothpastes intended to reduce tooth sensitivity. It forms a barrier over the nerve endings in tooth dentin that is exposed by receding gums. Strontium supplements are available, said to aid bone health. In Europe, strontium ranelate is available by prescription to reduce fracture rate from osteoporosis. The strontium compounds available online or in the United States are more commonly strontium citrate or strontium chloride, which have not been shown to be effective for osteoporosis. While exposure to trace levels of strontium isnt a concern, taking a large amount of it is associated with side effects, including blood clots and heart damage. Sources J. Paul MacMillan, Jai Won Park, Rolf Gerstenberg, Heinz Wagner, Karl Kà ¶hler, Peter Wallbrecht Strontium and Strontium Compounds in  Ullmanns Encyclopedia of Industrial Chemistry, 2005, Wiley-VCH: Weinheim.ONeill GT, Rolfe LR, Kaufman MH. Developmental potential and chromosome constitution of strontium-induced mouse parthenogenones (1991)  Mol. Reprod. Dev.30:214-219​.Pradyot Patnaik.  Handbook of Inorganic Chemicals. McGraw-Hill, 2002.

Reaction Paper to Amish in America Essay Example

Reaction Paper to Amish in America Essay Example Reaction Paper to Amish in America Paper Reaction Paper to Amish in America Paper Nick Stratton Professor Taylor soc 204 May 13, 2013 Reaction Paper to Amish in America In our society today, we have many different groups, religions, cultures, and even sub-cultures. Each one of these groups has their own commonly accepted way of life. In particular, there is a very large community of people who call themselves the Amish. These people live in a society where there are very strict rules, values, and beliefs that they follow on a daily basis. Most modern Americans would strongly reject the lifestyle chosen by the Amish, so it can seem surprising to learn that this group is actually growing. Why is this possible? I believe the Amish are growing because they are approaching a stage in their world where they must adapt their ways or fail to thrive. The Amish have always been a people of the old country; they were taught a way of doing things while still following a very strict moral and religious code. According to the video that we watched in class, when they were doing the documentary on the Amish people, they only wanted to be videotaped in profile in order to have those outside their culture believe they are all one homogenous group. In fact, their religious faith is ultimately the foundation for the reason for everything from what hey wear to what they drive. Ever since the day a child is born into an Amish family, they begin the process of training the child to obey their system of values and beliefs that defines their way of life. This socialization process is crucial to their way of building a strong sense of connection to the rest of their community. As the youth transition from childhood to adulthood, according to the video The America of the Amish, the adolescents are given a period of time between the ages of 16 and 20 during which they are allowed to experience many things outside the Amish culture and norms, without fear of reprisal. This period of time is known as Rumspringa, basically translated from German to mean Jumping around. However, not all Amish people were born into the culture. In the video, we saw a mother and two daughters Join an Amish community after leaving California and moving to Intercourse, Pennsylvania. I believe they did this because the Amish life has a simpler and more straightforward way of doing things. This allows people in the community to live a much more stress free life. In addition, living in an Amish commune adds a sense of safety, security, and overall wellbeing. As th e Amish evolve, they are experiencing more modern techniques to ccomplish day to day tasks. They still dont use electricity but, unlike when the elders held obstinately to the prescribed way, now Amish people have embraced certain advances in technology in order to increase efficiency in their daily life. Men and women have also embraced different ways of earning money other than through agricultural means on their own farm site. One case in point is Amish people running a stand at a local market using electricity in order to make a pront pure fact that the Amish are learning to evolve in todays society is the reason I believe that the Amish community as a whole is growing in the United States.

Yorkshire Tourism Investment Research Coursework

Yorkshire Tourism Investment Research - Coursework Example However, the region has a lot of untapped potential towards offering more quality and increase revenues through a few unexplored avenues. The Yorkshire region is home to some beautiful landscapes and a vast countryside that can offer numerous opportunities for visitors to experience nature (Beeton, 2010). Tapping the tourist element in the rural countryside will also be economically beneficial to the local communities besides providing them a unique opportunity to showcase their tradition and culture. Any development of eco-tourism in coordination with these local communities must however be implemented through a sustainable framework that can ensure long-term growth and prevent any damage to the local environment. Key Drivers and Objectives ‘Rural tourism’ is a relatively new concept in the United Kingdom (UK) whose importance and growth potential were recognized by the government. Grants such as the ‘Yorkshire Forward’ are available to individuals and firm s that aspire to develop a tourism related business in the rural parts of Yorkshire. The ‘Yorkshire Forward’ grants are offered through the RDPE (Rural development program for England) (Hall, 2010). The grant program was initiated after an extensive research by the RDPE which sensed the need to enhance the quality of tourist facilities and accommodation available in the rural regions of Yorkshire. Grants can fund up to 50% of the total cost of such projects up to a maximum amount of ?25,000 upon fulfilling a few conditions (Goodall, 2008). The key focus is to improve the standards of serviced accommodation, self-catered hotels and rural pubs by introducing new bedrooms of better quality or upgrading any current facilities that may help the business develop further. Any such initiative must help develop a long-term relationship with customers so that they may prefer to visit again, thereby improving the prospects of the regional economy. From a macroeconomic perspective, the importance of tourism in Yorkshire’s economy cannot be underestimated. The sector contributed over ?5 billion in 2008, with over 90% of the visitors originating from the UK. Amongst these tourists, day visitors contributed around 45% of the revenues while the rest was contributed by staying tourists. International tourists also accounted for ?400 million in revenues (Holman, 2008). The peak season for tourism is summer although trips to the countryside can be organized throughout the year. Another important segment that could prove beneficial for rural tourism is business tourism, which constitutes over a quarter of tourism in Yorkshire. Beeton (2005) says that events such as corporate meetings and conferences can be organized in the countryside and promoted effectively as a low-cost and environment friendly alternative to conventional solutions. There are however several issues and risk factors that must also be evaluated and minimized efficiently to embolden the confid ence among tourists regarding rural Yorkshire. While the rural parts enjoy a dense road network in terms of connectivity, accessibility through air is relatively underdeveloped. Improving international connectivity and encouraging tour operators is an important consideration if rural tourism is to become a popular success. Local airports like the Leeds Bradford and Robin Hood must be upgraded as required to cater to domestic and overseas travelers and connectivity from these airports to any part of the Yorkshire region must be improved (Coles, 2008). Occupancy rates in rural Yorkshire are also lower than the regional or national average (at 60% and 82% respectively) (Spencer, 2008). Thus, any promotional initiatives and development projects must consider the aspect of improving

Leading Early Childhood Essay Example | Topics and Well Written Essays - 1000 words

Leading Early Childhood - Essay Example According to (Aubrey, 2011), leaders perceive their responsibility as spanning from their own to their staff’s development. In the past, the role of leaders in staff development, and especially in early childhood did not have much emphasis. However, in the recent past, this has taken center stage. Aubrey (2011) views this as having been necessitated by changing expectations. Leadership role is all about ‘quality of staff training’ (Aubrey, 2011, p. 45). According to Aubrey (2011), countless hindrances have derailed this, ranging from policies and procedures, as well as inspections. In the changing world of today, Aubrey (2011) explains that leaders and staff hold clarified views concerning decision making. In this regard, however, it emerges that all participants in this field including the child ‘become involved to some extent in the decision making’ (p. 34). However, she forwards interesting evidence on how people with varying initial qualification and approaching this sector from varied routes, may hold differing opinions on early childhood leadership as well as diverse attitudes on aspects of their roles. This serves to demonstrate the degree to which staff development is essential, since, looking at pedagogical leadership; the teacher emerges as a crucial decision maker. Effective leadership has been impacts greatly on a child’s learning. Leadership is also central to the overall success of a school. In this light, therefore, the quality of this leadership should be cultivated and improved. In the Early Childhood setup, leadership is perceived to flow from top downwards. However, some contributors in this field will argue that leadership is more followers oriented, especially in regard to children; than leader oriented. This is a credible hypothesis according to Berthelsen, Brownlee, & Johansson, (2009), who view children as being the consumers in the training process. The findings produced by Aubrey (2011) sets several leadership