Importance Of Financial Planning Essay

Money may not be the most important thing in life. Nevertheless, it is still important. Every single revolves around money, from the time we open our eyes till the time we go to bed (and even while we are asleep). If only money grows on trees, then financial planning would not be such a headache, would it? Financial planning is a systematic way of organizing our financial affairs in the most effective and efficient manner in order to achieve our life goals. And success is defined as the attainment of one’s goals. In short, it is truly a key of success. Sense Of Direction In Life Through proper financial planning, we can look at what is more important and meaningful to us. Then we can organize effectively our finances and our lives around those things so that we do not end up on the wrong wall. Understanding Sacrifices -Though our wants are infinite, unfortunately, our resources are finite. Financial planning would help us realize and understand that in life, there is always sacrifice to be made. If we really want to achieve our important goals, we need to exercise Delayed Gratification and able to distinguish between needs and wants. Coping Easier With Changes In Life -The only constant in life is Change and learning to cope with changes early in life would be a plus point. We are better prepared to face these challenges in life if we have done proper financial planning. Creating Wealth -Wealth creation is not a sprint but a marathon for it takes time, discipline and a lot of financial stamina. With the help of a qualified investment advisor, we can select the most appropriate investments that suit our risk appetite to achieve our desired goals. Enriching Our Lives -Financial Planning does not merely enrich us financially but also physically, emotionally and mentally. Without the financial stress. We will able to focus on other important aspects of out lives like our health, our relationship with family and friends and devoting our time to other charitable causes. Security – Through proper risk management and insurance planning. We will be able to provide our loved ones and ourselves with total peace of mind while we go about living out lives and building our wealth. Success -That’s exactly what financial planning aims to achieve- helping us realize our life goals. Our goals should not be just having a lot of money in our bank accounts but rather what can money do for us. http://www.akpk.org.my/Articles/YOUNGADULTS/THEIMPORTANCEOFFINANCIALPLANNINGAKEYTOSU/tabid/168/Default.aspx

Othello’s position as an outsider fuelled by his insecurities Essay

In what ways does Othello’s position as an outsider fuelled by his insecurities bring about his downfall? Shakespeare was on of the greatest writer of all time he wrote many plays and among them there are his timeless tragedies. Some of the most popular are ‘Romeo and Juliet’, a typical love tragedy, ‘Macbeth’ and the famous ‘Othello’. Tragedy is one of the oldest genres in literature. It started off in Greek times and one of the earliest writers was Aristotle. Shakespeare was influenced by Greek and Roman thought and ideas, which he used in his own revenge tragedies. Shakespearean tragedies are all set around the hero. The hero normally has a fatal flaw that causes the downfall of the hero. These ideas are clearly shown in the revenge tragedy ‘Othello’. In the play, Othello is a typical revenge hero. Othello is a cultural and racial outsider he is a moor, which is a natural of Northern Africa. This featured separates him from the other characters. He is a well-respected man who is a loyal officer and has repeatedly proved himself in a battle, but people still do not accept him as one of them. This fuels Othello’s insecurities and the way people treat and talk to him build on the many insecurities he already has. Throughout the play there are many references to Othello’s race and social background. In scene one the audience are introduced to Othello through Iago and Brabantio conversing about him. The audience are informed that he is marrying the King’s daughter (Desdemona) behind the King’s back. This is highlighted by a quote from Act one Scene one â€Å"A black ram is tupping your white +ewe†. The audience’s first impressions of Othello are that he is sly and untrustworthy. The imagery used by Iago â€Å"black ram† and â€Å"white yew† signifies the differences between Desdemona and Othello, Othello is black and Desdemona is white. Not simply this but other ideas are connoted by these images to the audience. Black symbolising hate and evil while white symbolising purity, good and angelic. This opposite effect between them gives a negative effect on the audience about Othello. Witchcraft is spoken of â€Å"He thought t’was witchcraft† by Iago and Rodrigo as there is no other reason for a pure and angelic character to love such a hideous beast. The ideas of witchcraft being mentioned shows that people are thinking that Othello has put a spell on Desdemona for her to love him. Othello isn’t seen as attractive or conventionally good looking. His colour makes him unappealing and frightening implied by the imagery used by people in the play when speaking about Othello. When referring to Othello. â€Å"The Moor† and â€Å"Thick lips† are used as references to Othello’s colour in many scenes. The imagery of animals or beasts is used a lot, â€Å"Black ram† and â€Å"barbary horse†. This is bringing Othello to an animalistic level with the imagery of wild un tamed animals or beasts. This is used to insult Othello’s colour and his racial background. By saying he is of a low level and uncivilised. Although a lot of insults are directed towards Othello these insults are never spoken to his face. This is because Othello is a valuable and skilled soldier he has done a lot for the country and people respect him for that. â€Å"I have done the state some service and they know’t.† When speaking to Othello, Iago and Rodrigo call him â€Å"my lord† This shows respect and Othello seems to be accepted into their Venetian society because of his fighting ability, although the dramatic irony is clearly shown when Iago says, â€Å"I do hate him as I do hells pains† but when speaking to Othello in Act 4 Scene 4 he says. † You know I love you my lord.† This would be one thing that would change the audience’s views about Othello and make them more aware of Iago as this starts to show his true colours. Iago mentions the word hell signifying the devil and pure evil, this again relates to the views and opinions people have on Othello’s racial background. His black skin reinforces the images and thoughts also. Discrimination is a key theme during this play a lot of which is aimed at Othello. Although Othello has been accepted into their society he still feels conscious about his racial background as he states , â€Å"haply, for I am black†. Othello knows that he’s an outsider to them and understands why, his unknown qualities may be threat to some but on the other hand others are intrigued which Is shown when he says, â€Å"her father loved me/oft invited me/still questioned me about the story of my life.† People do not like to accept the unknown but like to question it or like Iago feel the need to push it away. The unknown is ventured into by Desdemona she crosses the line between her society and the unknown by marrying Othello. This shocks and seems outrageous but it helps Othello be accepted more into their society. Desdemona was once too scared by Othello’s race this is highlighted by the quote† And when she seemed to shake and fear your looks.† But she looked beyond this † I saw Othello’s visage in his mind†. This shows that if one can see the inner beauty then why can’t every one else? Perception is a key theme during the play. The audience see that Othello is beautiful not on the outside but on the inside. Iago although he appears beautiful the audience see a different view they see more than skin deep. Desdemona accepts Othello for who he is, therefore Othello feels safe and secure with her. He loves and adores Desdemona and would do anything for her. This is clearly shown in Act4 Scene4 â€Å"And I when I love thee not, chaos is come again.† This is implying that without Desdemona’s love it would be the end of the world, the end of Othello. When Iago starts to question Desdemona’s love for Othello, Othello now feels he cannot trust Desdemona. This affects him because she makes him feel accepted because she loves him for who he is and now he feels unaccepted into their society. Iago knows this so he plays on these insecurities to get what he wants. I think this quote is a good description telling the audience he is comparing Othello to an Ass, and Iago is leading him with his lies. â€Å"And will as tenderly be led by th’nose as asses are.† This creates an image of an animal being led away so easily by something so simple, but by something it loves and craves. Iago does not tell Othello anything about Desdemona and Cassio he just cleverly puts thoughts into Othello’s head, it is shown well n this quote, â€Å"Ha I like not that†¦Nothing my lord.† Iago immediately catches Othello’s attention and he is eager to find out more. Iago plants the seed of doubt and nurtures it over act 3. Iago carries on and starts to mention Cassio although he doesn’t say anything about Desdemona and Cassio being together he implies it, shown in this quote â€Å"I cannot think he would sneak away so guilty like, seeing you coming.† These quick sentences get Othello’s mind racing, with doubt and jealousy. The words that make Othello eager are â€Å"sneak† and â€Å"guilty† this really sets the scene for a private affair. Othello panics and he answers Iago quick trying to find out more. â€Å"What dost though think?† As the scene progresses Othello becomes suspicious and starts to get annoyed with Iago, as it seems Iago knows something and is not telling Othello, Othello says â€Å"Show me thy thought†. Othello, feeling an outsider already is now separated from the group even more as there are secrets revolving around that he knows nothing of. Iago realises that Othello may not believe him, to get Othello to trust him and start to believe him he says â€Å"You know I love you my lord.† This dramatic Irony starts to show the audience that the real villain is Iago in the play and their sympathy goes out to Othello as all he is, is another â€Å"cog† in Iago’s conniving and twisted plan. Toward the end of the scene Iago starts to really play on the insecurities of Othello. â€Å"She did deceive her father marrying you†. This implies that if she can deceive her own blood then what chance does Othello have? This idea was brought up at the start of the play when Othello was speaking to Desdemona’s father, and he warns Othello of her background telling him that she has deceived him many times before. So Othello starts to really believe it now. â€Å"Why did I marry?† To make sure Othello really understands Iago, Iago starts to imply that Othello being an outsider means he does not know a lot about their society. Iago comes from this society so anything said, Othello will believe because he doesn’t know any different. â€Å"In Venice they do not let god see their pranks, they dare not show their husbands; their best conscious.† Here Iago is implying that Venetian women are not what they seem. Iago knows this from past experience and implies Othello has been pulled in by their deceptive ways. Othello is starting to doubt his position in the society as he realises he does not know enough. This plays on his insecurities and he feels more of an outsider than he’s ever felt. This is shown by his epileptic fits on stage as he works himself up so much his body shuts itself down. His epileptic fits contribute to his outsider qualities as this is a fault within him, which separates him from the society. People don’t understand him and therefore can’t accept him totally into their society. This gives Iago a chance to work situations to his advantage like the Cassio and Bianca scene. Othello becomes more and more insecure and vulnerable he ‘need’s’ to rely on Iago’s advises more. Iago gets him to depend on him and a power change occurs. The audience are aware of the change by Act 4 scene 4 when it is clearly shown. From then on Othello becomes more and more insecure, and Iago ‘feeds’ on his weakness. â€Å"Rude am I in speech / And little blessed with the soft phrase of peace.† (A statement form Othello.) This is showing us that Othello is presenting himself as an outsider and constantly brings up his differences from other Venetians. This insecurity is brought on by the thoughts of other people. If everyone else thinks it, then Othello starts to think it too because he is so unsure about himself. Another quote that shows this is when Othello says, â€Å"Haply for I am black/and have not those soft parts of conversation.† Othello knows he is discriminated against his colour and he admits it â€Å"Haply for I am black†, his colour is linked to the ideas of a beast he refers to this by saying, â€Å"have not those soft parts.† The â€Å"soft† in this sentence is the total opposite of what is thought about Othello. He now discriminated himself and compares him self to other people and this is when he thinks his whole world is crumbling around him especially because his one true love has supposedly betrayed him. If Othello chooses not to believe in himself and lets himself be an outsider from the rest, then what chance does he have expecting others to accept him? Othello’s position as an outsider is in a lot of way fuelled by his insecurities. This is a serious weakness that comes across on Othello and the paranoia he has upon himself does not help. Desdemona gave him the confidence to not care, but Iago’s twisted and conniving ways led Othello to believe his one true love was not there beside him any more helping him through the tough times. Desdemona fuelled the little confidence Othello had and it was this reason that Iago used to break Othello. In the last scene Othello speaks â€Å"Like a base Indian, threw a pearl away.† Here in this metaphor Othello has realised Desdemona was his pearl the one thing left that made him she was his world and his world had now gone.

Rate of return

Depending on the facts and circumstances involved In a particular research and development arrangement, true payments by the entity to the other parties ostensibly for royalties or to purchase the partnership's interests in or to obtain the exclusive rights to the research and development results might actually be any of the following: * a. The settlement of a borrowing ; b. The purchase price of an asset * c. The royalties for the use of an asset.The financial reporting of an entity that is a party to a research and development arrangement should represent faithfully what It purports to represent and should not subordinate substance to form. † Without specific guidance and this as a launching point we need to look at this transaction and really see what's going on. From the agreement presented in the case this Is what I have been able to cull out of the extreme ambiguity.The first piece of the agreement we should comb over Is the future royalties to be received by PIE from the sales of an established Pharmacy drug for a defined period of time. An established drug in the market has reasonably estimable future cash flows. I. E†¦ Pilfer could predict with reasonably certainty sales of Vicarage this year. Thus, PIE Is constructively lending Pharmacy money now, with repayment of the borrowing coming in the form of royalties for a defined period of time.Lending money with recurring repayments of that principal over a defined period of time is essentially a bond. That Is also what Is going on here. The question is how much is PIE lending Pharmacy? If we accept that the future royalties associated with Pharmacy existing drug are reasonably estimable and for a defined period of time, we can do some math and discount the future cash flows and apply an appropriate return for similar debt Instruments' cash flows to arrive at exactly how much of Pep's money to Pharmacy Is constructive lending.The number we arrive at for the constructive lending would be recorded as a note receivable (or more specific verbiage could be used) for PIE and a payable for Pharmacy in the form of a royalty payable to satisfy lending obligation. Now, as Pharmacy proceeds with their best efforts in developing drug X, and the amount of cumulative cash PIE has Infused Into Pharmacy at each threshold exceeds the amount previously quantified as constructive lending we have a new situation. The money is no longer lending, so what is it?ACS 730-20-25-8 states: â€Å"To the extent Tanat ten Atlanta rills escalate Walt n ten research Ana development NAS Eden transferred because repayment of any of the funds provided by the other parties depends solely on the results of the research and development having future economic benefit, the entity shall account for its obligation as a contract to perform research and development for others. † If we look from Pep's point of view, they inserted the future royalties of the existing drug into the agreement as a guaranteed retur n of some of their invested capital.We can assume the PEE fund isn't incompetent and understand that up to a certain investment point, presumably to the same dollar amount of expected cash flows from the existing drug royalties they are entitled to, they can't say that a return on investment drug X is more likely than not. However, once they start giving their incremental investments beyond the constructive lending amount we quantified earlier I think it is safe to say PIE sees a return on drug X as probable. So, PIE would need to record any cash sent to Pharmacy beyond the constructive lending amount as an investment, Just as any other investment is recorded.They would need to be wary of impairment, perhaps, more so than other forms of investment, but this is strictly now an investment in Pharmacy. For Pharmacy, as stated in ACS 730-20-25-8 above, now has an obligation to perform research and development in the amount of any cash provided by PIE in excess of the constructive lendin g portion of the agreement. As we saw in ACS 730-20-05-9 at the top of this analysis of the agreement, there is an extreme amount of supposition involved in these types of R&D agreements and the code says they need to be accounted for with the substance of the transaction above the form.I believe the aforementioned constructive lending portion and investment portion of the agreement satisfy the substance of the arrangement best under the circumstances presented. Also, the code itself seems to recognize its lack of ability to clearly delineate the proper accounting treatment and throws us a nice blanket piece of code to ensure the proper disclosure of the agreement in the form of 730-20-50-1 stating, â€Å"An entity that under the provisions of this Subtopic accounts for its obligation under research and development arrangement as a contract to perform research and development for others shall disclose both of the following: * a.The terms of significant agreements under the research and development arrangement (including royalty arrangements, purchase provisions, license agreements, and commitments to provide additional funding) as of the date of each balance sheet presented * b. The amount of compensation earned and costs incurred under such contracts for each period for which an income statement is presented. † This Just means the agreement needs to be disclosed on both ends.

Four decision issues managers faced when filling up their performance Essay

Four decision issues managers faced when filling up their performance review forms - Essay Example In order to minimize this problem, managers should be required to give their specific reason for the grades and evaluation. Through this, managers will be able to see that performance reviews should generally give an accurate overall performance of the employee. This will also enable them to see that their interaction with the employee is far outweighed by the way these customers deliver value for the organization. One of the most prevalent dilemmas in performance reviews are the managers perception of that this is a one-time annual reporting of how the employees fare. This hinders the management to give an accurate assessment of the employee under consideration as the manager may only note how the worker performs for the past month of two. In order to avoid this, managers should "invest time to give a day-to-day scorecard on individual qualitative and quantitative performance feedback impressions to employees on a day to day basis" (Heskett, 2006). Managers will be required to maintain a record of how their subordinates perform daily. This will be tallied every month in order to make it easier for employs to give a generalized assessment at the end of the year. Managers don't often recognize that the

Citizenship in United Kingdom under Neo-liberalism Essay

Citizenship in United Kingdom under Neo-liberalism - Essay Example Opening of markets refers to free trade and an international division of labor (Bateman 48). Neoliberalism usually favours multilateral political force through international organizations or treaty devices such as the WTO and World Bank. It promotes plummeting the role of national governments to a minimum. Neoliberalism favors laissez-faire over direct government intervention (such as Keynesianism), and measures achievement in overall economic gain. To improve corporate efficiency, it strives to reject or mitigate labor policies such as lowest wage, and collective bargaining rights. (Faulks, pp 34-37) Neoliberalism is an economic philosophy rather than a broader political ideology. The swing away from government action in the 1970s led to the prologue of this term, which refers to a program of dipping trade barriers and internal market restrictions, while using government power to enforce opening of foreign markets. This is strongly different by economic liberals, who favor a free market and free trade. Neoliberalism accepts a positive degree of government involvement in the domestic economy, mainly a central bank with the power to print fiat money. It also favors an interventionist military (Cate 73). While neoliberalism is sometimes described as overlapping with Thatcherism, economists as varied as Joseph Stiglitz and Milton Friedman have been described - by others - as "neoliberal". This economic agenda is not essentially combined with a liberal agenda in politics: neoliberals often do not pledge to individual liberty on moral issues or in sexual mores. An extreme example was the Pinochet regime in Chile, but some also categorise Ronald Reagan, Margaret Thatcher and even Tony Blair and Gerhard Schrder as being neo-liberal. It should be distinguished that, in the 1990s in the UK, a lot of social democratic parties adopted 'neoliberal' economic policies such as privatization of industry and open markets, much to the disappointment of many of their own voters. This has led these parties to become de facto neoliberal, and has often resulted in a radical loss of popular support. For instance, critics to the left of the German Social Democratic Party and the British Labour Party blame them of pursuing neoliberal policies by refusing to renationalise industry. As a result of this, much support for these parties has been gone astray to the Christian Democratic Union and the Liberal Democrats, correspondingly. (Cate 77) Sometimes 'Neoliberalism' is use as a catch-all term for the anti-socialist response which sweep through some countries during the period between the 70s and 90s. 'Neoliberalism' in the form of Thatcher, Reagan, and Pinochet claimed to move from a bureacratic welfare-based society in the direction of a meritocracy acting in the interests of business. In actuality, these governments cut financial support for education and taxed income more deeply than wealth, which augmented the influence of big business and the upper class. Some conservatives perceive themselves as the true inheritors of classical liberalism. Jonah Goldberg of National Review argues that "most conservatives are nearer to classical liberals than a lot of Reason-libertarians" because conservatives want to protect some institutions that they see as wanted for liberty

Sylvia's Bar Analysis Essay Example | Topics and Well Written Essays - 1500 words

Sylvia's Bar Analysis - Essay Example The staffs at Sylvia’s bar were trained in cocktail from South Birmingham College and thus their salary was much higher than market standards. The band that was performing in Sylvia’s Bar was initially very popular but gradually people have started losing interest and do not like the performance of the band any more. As a result, the bar is not being able to even recover the cost of hiring the band. Competition has also intensified with time making it difficult for Sylvia’s Bar to make their mark amidst competition. A staff and customer survey had been conducted. The customer survey revealed that they did not consider the price of food and drinks justified and they did not like the ambience in the bar. The staffs also do not enjoy working in the place since the work environment is too formal. Analysis of the Current Situation All organisations have a business strategy for success. The business strategy of an organisation revolves around making money and increasin g profits of the organisation. Businesses make plans for increasing profits but often fail to execute those plans. Businesses which have been very successful have always stressed on ethical behaviour and performance and have laid down clear expectations which have helped them to achieve success. The key to success for businesses lies in their structure. Successful businesses have a fast, flexible and flat structure. The absence of too many hierarchical layers improves the information flow in the organisation. The other key to success lies in the recruitment of talented employees. Successful organisations try to retain their talented staff and provide them training to enhance their skills and make them capable of multitasking. Effective leadership also ensures success in a company. Innovation is extremely important for an organisation since it helps them to stay ahead of competition (Behe, 2008). It has been observed that companies in the hospitality industry especially restaurants a nd bars face failures which can be categorised based on the managerial, marketing and economic perspective. Managerial failure results from the management’s incompetence whereas marketing failure results from marketing reasons namely changing demographics, product portfolio realignment and repositioning among others. Economic failure occurs when profits and revenues are diminishing. Restaurants just like other businesses also pass through distinct life cycle stages. The most vulnerable stage is the first stage. Consequently, most restaurants fail during the initial years due to the fact that they lack resources and thus cannot easily adapt to changing conditions. The competitive environment of a restaurant in terms of its location, growth and how they differentiate themselves from their competitors determine their success. Often new restaurants fail because they lack proper planning, face cash constraints and are unable to compete with big players. Size and survival has a dir ect correlation in restaurant industry and so bigger players have a greater chance of survival. The restaurant’s location in the market, their proximity with competitors and ability to differentiate themselves from their competitors determine their long-term survival. Most restaurants fail due to their inability to adapt to changing market trends. Various internal factors like managerial inefficiency and incompetency lead to failures (Parsa & et. al., 2005).

Catherine Mansfield Essay Example | Topics and Well Written Essays - 500 words

Catherine Mansfield - Essay Example As the report declares looking deeper in the human behavior and trying to see the important details, her short stories had a didactic particularity. This happens with the short story: â€Å"Sixpence†. The story is a didactic one, but not as we might think at the beginning. The writer portraits two types of parents behavior. A little boy, Dicky, does not behave properly one day, just when his mother has a guest. This was a very strange fact, because he usually was â€Å"good as gold as a rule, sensitive, affectionate, obedient and marvelously sensible for his age†. This paper stresses that the child makes a mistake and the guest, Mrs. Spears, gives his mother an advice: the only punishment is the whipping. This contradicts his mother’s opinions, because when she said punishment she was not referring to beating. And here comes the two types of behavior, or we could extend the two types of parents. Mrs. Spears sons were very quiet, permitting their mother to give credit to her theory about punishment. Dicky’ s mother does not agree to the beating, but she let herself convinced by her friend’ words. The children themselves were very different and Dicky was the one that had a normal behavior for his age. He was gentle and sensitive, but sometimes he was acting foolishly, maybe because a child’s energy is too big and cannot be hold in. Mrs. Spears sons were not acting right for some children, they were too calm and quite.

Information Security Management Essay Example | Topics and Well Written Essays - 6000 words

Information Security Management - Essay Example There is a need for ensuring an appraisal of the operations of the information system at Hewlett-Packard in a bid to consolidate an organized arrangement in the prevention of danger. In view of the rise in the level of an insecure system within the operation systems of Hewlett Packard, there is a need to come up with various measures that can curb the danger that the company is exporting. In addition, there is also need for addressing the possibility of the occurrence of disasters like fire that may end up damaging property within the company. Presently, the operating system the staff is using is susceptible to threats outside and within the company. There is need for a safe operating system that the staff uses in order to ensure confidentiality of information within the organization. This report comes up with the appropriate recommendations that have to be considered to ensure safety of the entire operating system. There were complaints raised regarding the access of computers without the knowledge of the users of the computers. The report looks at the provision of the use of passwords and various data storage devices within the organization. This research was conducted through investigation and filling of questionnaires by the staff members. A number of 250 questionnaires were distributed to the employees, and they were filled based on the scales that surround that security and confidentiality of the jobs that they do. The survey concentrated purely on the security of the work being done rather than the individual details in the environment. The staff members who took part in the survey were volunteers and their details were anonymous. The management having been briefed of the challenges being faced within the firm, they decided to appoint a team of IT experts led by the IT systems administrator to look into the situation and address the matter amicably before it got out of

Working Conditions in the 1900 Essay Example | Topics and Well Written Essays - 250 words

Working Conditions in the 1900 - Essay Example Following the high commercialized trade on slaves in European nations and America, the white settlers and colonialists had an ease in employing and commanding what they wanted in their workforce; and were highly discriminated. The situations were exceptionally harsh for the blacks. The reconstruction period in early 1900 undermined the working and living environments of the blacks. Black codes were used to proclaim the white supremacy. Treatment further exceeded to black’s right to exercise their voting right, intermarriages, unemployment in other vital sectors and being exposed to high levels of punishments (Murrin et al, 2011, pg, 465). Â  Despite such working conditions in early 1900, working conditions began to change and improve for the typical laborer organized mannerism. Trade unions were established and were used to increase workers count as well as to increase their wages (LaWarne, 1975, pg). The Congress also amended some clauses of the constitution in preference to changing the black codes that undermined the blacks (Murrin et al, 2011, pg 465). Â  It is expected by many workers that some conditions are effectuated to improve and provide a good and conducive environment. A managerial proper system is one of the major changes today being made. This is to ensure and strategize a proper working, organizational structure that prioritizes workforce conditions. Time should also be considered, and extra wages should be implicated in overtime hours. For senior workers, should also be allocated allowances to meet the unbecoming demands they meet while encountering their work.

Global Climate change abstract Assignment Example | Topics and Well Written Essays - 1000 words

Global Climate change abstract - Assignment Example includes oil and coal deposits, limestone, and carbon-rich shale while the surface reservoirs include the hydrosphere, atmosphere, and living biomass. The long-term carbon cycle refers to the exchange of carbon between the Earth, oceans, and the atmosphere. It entails the reaction of carbon dioxide with water and rock silicate or carbonate forming magnesium, calcium bicarbonate, and silica, which then dissolve in the ocean. Heat and pressure release the carbon dioxide back to the atmosphere. On the other hand, the short-term carbon cycle denotes its exchange between the surface reservoirs, which is rapid. Carbon exchange between the atmosphere and ocean involves photosynthesis, solubility, and carbonate pump. Dissolved carbon dioxide decreases water pH (8.2 to 8.05) decreasing carbonate concentration and hence lessening the stability of aragonite and calcite essential for skeleton and shell formation. Therefore, acidification of water by carbon dioxide affects the reproduction of cal cifying organisms. Acidification of the water also causes increased levels of nutrients, zinc, copper and toxic metals affecting the ecosystem. Earth’s energy balance refers to the balance of solar radiation and the energy that radiates to space that affects the earth’s temperature. The solar constant, which is 1,367 watts per square meter, measures the amount of solar electromagnetic radiation. Received radiation on Earth depends on seasons and distance of the surface from the sun. Albedo is a measure of the total incident light on the surface reflected back to space. It relies on the nature of the surface. Emission of radiation from the matter occurs in the form of IR radiation. Energy transfer to the atmosphere happens in the form of latent and sensible heat. Climate change is subject to forcing factors including greenhouse gasses, aerosols and changes in solar irradiance and land cover. Greenhouse gasses such as methane, nitrous oxide, tropospheric ozone and carbon dioxide

My Favorite Place Essay Example for Free

My Favorite Place Essay My favorite place is my grandmother’s house, and l like to be there every weekend. It’s large and big, almost two thousand meters in front of sea side. Every Thursday, we gather there with all family members. Sometimes we invite our friends to join us there. There is no place like my grandmother’s house. It is always welcoming everybody. It has two gardens, a swimming pool, a long car garage, and domestic animals. I will give you a small description for the two gardens at my grandmother’s house. When you enter through the gate, you will find on your left hand the first garden. My grandmother and the gardener were planting the beautiful trees and plants you have ever seen in Kuwait. Also you can hear the sounds of birds chirping and the sounds of pets. The next garden is on the other side of the house, facing the seaside. When you enter, you will smell scents. Such as; Jasmine, basil, cloves, and sea smell. The house from inside is very interesting because it has a modern mixed with classic furniture. It has a huge classic gate. Then on the right hand, you will find long stairs, and on the left side a wide area and in the middle a round table. In front of you, there is a living room, where we sit together there. It always feels cheerful, enjoyable, and welcoming. Next to the living room, you will find the dining room with a huge long table, enough for almost all the family members. My aunty always adds other long tables for the kids. We spend amazing time when we eat there; it is crowded and noisy when everyone wants to talk. On the second floor, you will find eight bedrooms with their bathrooms and a little preparatory kitchen. In the summer, we spend all of our time swimming in the pool or in the sea. It has a large and deep swimming pool. My aunt bought a jumping slide for the children to jump. That item makes us crazy and mad. Sometimes we sleep in my grandmother’s home specially to swim at nights in the moonlight. It is an amazing feeling. In the summer holiday, we were spending wonderful when my mother and father decide to let us sleep at my grandmother’s house. We are three sisters, three brothers, and with my cousins. We are about fifteen kids. We look like a gang and make my grandmother and aunt angry. We spend the most enjoyable days at my grandmother’s swimming pool and gardens. At the end, I like my grandmother’s house, and I have plenty of good memories with all my family members. Now, the house has the same smell. It is mix between flowers and incense smells. In weekends and summer holidays’ we spend the most enjoyable time there. My grandmother let to us sleep in her house, plays in the garden, and swims in the swimming pool or the sea. Thanks to my grandmother, mom, dad, aunties, uncles, and nannies who had been patient with us.

Government Term Paper Essay Example for Free

Government Term Paper Essay The United States was founded and created by a group of people who wanted to see change and be in control of their future. This country has successfully accomplished this goal. Challenges from ending slavery to giving women the right to vote have all been accomplished through the American people implementing and enforcing new laws to be made. Two important issues facing the United States are Obamacare and illegal immigrants using anchor babies to stay in the country. On the issue of Obamacare, the best policy to follow is to recall Obamacare and create a new bill that is more specific, fixing one level at a time. On the issue of anchor babies, the best policy to follow is to amend the Constitution’s 14th Amendment to clarify the standards of citizenship. On March 10, 2010 President Obama’s new health care was signed into law. This new form of health care is called Obamacare or more formally as the Patient Protection and Affordable Care Act (PPACA). This bill requires that those who can afford health care must maintain the minimal, essential health insurance coverage. This mandate does not apply to citizens who hold certain religious beliefs or have financial hardships. Once the bill is fully processed, thirty-two million Americans will be able to receive some form of health care. The main intention of Obamacare is that affordability and accountability it brings. Obamacare lowers premiums for families making $44,000-66,000 and $55,000-88,000 a year. This new bill has made it easier for more families and people to receive health care. Obamacare also has begun to resolve Medicare’s prescription â€Å"donut hole†. This has helped senior citizens pay for vital prescriptions. The â€Å"donut hole† occurs after the patient has received $2,830 worth of drugs. At this number, Medicare stops paying for the drugs until the patient has used over $4550 of drugs. Therefore the patient needs to pay for $2,000 before Medicare pays for their prescriptions again. This reform gives donut hole payments a 50% discount and slowly closes this spending gap. The bill plans for the gap to be fully closed by 2020. The process of closing Medicare’s donut hole has already begun (Health Reform). The Affordable Care Act has improved community health centers. Within this improvement, there are more free preventive care treatments along with 1,250 new care centers for twenty million people (Timeline). These centers co-inside with the bill’s customer protection plan. This solidifies that no one may be denied coverage for pre-existing conditions (Health Reform). More people have been treated and helped allowing for a better field of doctors to be used for the necessary and covered treatments that Obamacare has provided. A large intention within Obamacare is to correct and maintain a new policy for business. Small businesses are not required to provide health care. However, if a business has over fifty employees, they are required to make payments that allow for health care benefits if ever needed if they do not have health care insurance (Health Reform). The bill has allowed for over four million small businesses eligible for tax credits so that they may be able to provide health care. Along with tax credit, Obamacare has cracked down on fraud, waste and abuse. This has secured the governments support in this bill. In the future Obamacare plans to reduce paperwork, provide more funding to children’s hospitals, and expand bundling payments (Timeline). Due to the numerous projects and reforms within this large bill, states need more money. This money comes from citizen’s taxes. People who already have health care are being taxed to help pay for others. One of the leading problems that Americans have about Obamacare questions whether or not all Americans have the right to health care. If a person chooses to be homeless and not work, should other citizens have to pay for another’s medical needs? Relating to the previous question, currently the Supreme Court is in the process of deciding if the Affordable Care Act is unconstitutional. Obamacare, 2010, stated that everyone must have some form of health care. People have begun to question whether this infringes and stretches Congress’ right to be involved in one’s personal life- even if this is an economic matter. Many individuals and twenty-seven states have begun to challenge Congress and whether the Commerce Clause has the right to expand national power at the expense on individual liberties. In 1824 the Supreme Court case, Gibbons v. Ogden, interpreted the government’s â€Å"commerce† to deal with only state to state/internal commerce affairs (US v Morrison). In 1937 the Supreme Court stretched the Commerce Clause for the government to oversee labor hours and wages. The government was allowed such power that they could even oversee a person’s personal consumption in the Supreme Court case, Wickard v. Filburn, in 1941 (Gaziano). Finally in 1995 the Supreme Court ruled against the government when they wanted to criminalize carrying guns to school. In this case, US v Lopez, the Supreme Court decided that this was not an economic issue and was not covered within the Commerce Clause (Langran). However, the Supreme Court case US v. Morrison became the final breaking point for the government. In 2000 Congress wanted to ban the violence of women. â€Å"The Supreme Court ruled that if there was any other clarification on the Commerce Clause that there would be a fundamental upset within the balance of powers in the Constitution† (Natelson). Throughout America’s history there have been many attempts to improve health care for Americans. Both Democrats- Roosevelt and Truman- and Republicans-Nixon- have done their share of work to help, however, the most recent and successful help came from the Clintons. Creating a new task force, Hillary Clinton spent large sums of money to keep the public interested and willing to support her. When she ran for president against Obama, her largest campaign issue was health care. Her plan was to require all US residents to have some form of health care and that employers must provide health care. Ultimately her work was not enough and was not as favorable as Obama’s idea of lowering the cost of health care rather than requiring it (Health Care). Now Obama has reversed his position on mandates as he created Obamacare. Obama explained to CBS News, â€Å"I’ve been persuaded that there are enough young, uninsured people who are cheap to cover, but are opting out. To make sure that those folks are part of the overall pool is the best way to make sure that all premiums go down† (My Interview). On March 26-28 of 2012, Florida and twenty-six other states argued that that the Affordable Care Act was unconstitutional. During these two days, the Supreme Court listened to the oral arguments. The Affordable Care Act’s largest concept is the availability and affordability for all of America to have health care by 2014. The states questioned the act’s credibility of one’s individual mandate (Katz). The course of the health care case began with Florida on January 31, 2011 when a district judge challenged the new health care act. Claiming that the individual mandate within the reform was unconstitutional called for the whole Affordable Care Act to be nullified. Through the process of appeals, the court decided that the act did infringe on American’s rights; however, the whole bill did not need to be recalled. From this, the federal court took this issue to the Supreme Court (Claeys). All though the oral arguments are complete, the Supreme Court’s decision is not expected unit June of 2012 (Katz). Advocates of the mandate argue that the â€Å"mandate would force all Americans to share the cost of health care† (Health Care). The mandate forces all people to pay so there would be no issue of people paying for others. People would be supporting themselves by paying for their own health care. Supporters of mandatory health care justify their position with the fact that those who don’t think they will need it eventually will. It is better to be safe and have health care if and when you need it. Living in America, a citizen has personal freedoms and with that comes responsibility and maturity. Providing oneself with health care, according to advocates, is a responsibility that must be met in order for citizens to continue to have the freedoms that they do. There are thousands of people who still need health care, Obamacare makes it more affordable; therefore, people will be more willing to get a proper form of health care. Americans will be interested in their benefits which makes them more aware of the issues surrounding health care (Should Illegal Aliens). In 2011 there have been numerous court cases trying to decide if the Affordable Care Act is Constitutional. These cases, such as Thomas Moore law Center v. Barack Obama US President (Patient) are defined as a writ of certiorari law. According to the legal definition, writ of certiorari is â€Å"an order a higher court issues to order to review the decision and proceedings in a lower court to determine whether there were any irregularities† (Definitions). This order given by the Supreme Court so that they may receive a transmit of the records of the cases heard about this issue. According to the information, may it be presented that the Patient Protection and Affordable Care Act-Obamacare- be recalled. The ideas that the bill presents are effective and appropriate; however, this bill came too soon. America’s current health care system needs other changes before Obamacare may be used. Americans need to obtain health care on their own before it is mandatory. A possible bill to begin the new process may be to focus making Medicare more affordable and efficient. â€Å"In 2011, the federal government spent about $477 million in net Medicare† (Fixing Medicare). The spending rate needs to match up with the number of patients and their medical needs rather than taxing citizens to get quick, un-favored results. A large part of why America has been so successful is because American citizens respect and have pride for the United States of America. The country’s patriotism has brought upon much success including: ending slavery, the Wright brothers’ first airplane, defeating Germany in World War I, and Neil Armstrong being the first man on the moon. Starting in the late 1700’s, America became known as the â€Å"melting pot†. Our multiculturalism makes America successful because all people want to be a part of making the United States better. Over time more and more people have moved to the United States. People wanted to be considered Americans and be official citizens. In the 1990’s alone the US population has increased by twenty-five million people. Within the last one hundred years 197 million people have moved to the United States (Riche). These new people came to America because their lives would be different. New immigrants changed their names, learned English, and wanted to be a part of America. Rather than sticking to their old cultures and lifestyles, immigrants adapted to the American lifestyle. The number of immigrants grew so quickly that the United States had to limit the number of people per country to enter into the United States. The government passed the Chinese Exclusion Act in 1882 to limit the number of Chinese immigrants entering the country. This act limited immigration in America to 170,000 Chinese people (National Archives). In June of 1866, the 14th Amendment was ratified into the United State’s Constitution. The 14th Amendment states that â€Å"all persons born or naturalized in the United States, and subject to the jurisdiction thereof, are citizens of the United States and where they reside† (Rojas). This amendment was added to the Constitution to support and protect the freed African American population after the Civil War ended in 1865 (The Debate). This first part of the 14th Amendment is known as the Citizenship Clause. The second part of the 14th Amendment is the Equal Protection Clause which states â€Å"that no state shall deprive any person of life, liberty, or property without due process of law; nor deny to any person their jurisdiction of equal protection of the laws† ( US History). In 1898 the Supreme Court case, US v. Wong Kim Ark, questioned whether the United States could deny naturalization to anyone born in the United States under the 14th Amendment. Born in San Francisco, Ark lived with his parents in California. At age twenty-one Ark traveled to China to visit his parents where his parents moved after living in the US for twenty years. Upon his return to the United States, Ark was denied entry. According to the Chinese Exclusion Act, no people of the Chinese race shall be permitted into the country. However, if Ark is considered to be US citizen this act does not apply to him. The Supreme Court concluded that the government could not deny citizenship to a person born in the United States. This case upheld the 14th Amendment (Rojas). Today this case has been upheld and been the foundation of how the Citizenship Clause is applied to United States citizens. Today the number of people moving to America still increases. However, there are another group of immigrants moving to America. In 2000, LIFE Act Amnesty estimated 900,000 illegal immigrants came into the United States. It is determined to be twelve to twenty million illegal immigrants residing in the United States today (Gheen). The rising issue in illegal immigration is the regularity of anchor babies. This term, anchor baby is classified as an illegal/non-citizen who came to the United States and gave birth to their child. Because their child is a US citizen according to the 14th Amendment, these families are able to convince the courts to let them stay and live in America (The Debate). This idea gives illegal immigrants an easy way to beat the system and live in America. Due to the large number of anchor babies born in America it is clear that their parents do not wish to become US citizens. Illegal immigrant families are able to get food stamps and Medicaid through the country’s tax dollars. Along with health care illegal immigrants are getting help putting their children through school. This changes the dynamics and level of public schools as they have to accommodate to these children. This issue has increased so quickly that organizations like FAIR, Federation for American Immigration Reform, has made more attempts to eliminate this problem. FAIR estimated that 425,000 illegal babies are born in the United States per year (McNeil). Other organizations have come together to push for this issue to be resolved. The state of Arizona has taken the imitative to end anchor baby citizenship. This bill, SB 1070, was written in June of 2010. Arizona’s bill â€Å"makes attrition through the enforcement of public policy of all agencies† (Senate Bill). This bill sets up the country for success by cracking down on an individual’s immigration status. If their paperwork is illegitimate, then they will be taken to the custody of US immigration and customs and enforcement. Arizona alone is estimated to have over 300,000 illegal immigrants. Supporters to stop anchor baby citizenship state that â€Å"maternity tourism† is only the beginning of the possibilities of the novelties to come surrounding illegal immigrants. If the United States wants to continue to have the power and the proper influence among the citizens, then they must stop this illegal, increasing birth rate. Eventually all of these children will grow up and be the anchor needed for the family to permanently stay in the country (Beck). Currently a US citizen may not sponsor a family member with a green care unless they are over twenty-one years of age (Kolken). In twenty years there will be an even larger issue with illegal immigration once all of these babies are an adult. Supporters confidently state that having their child in America was their poor decision and does not exempt them the from the law and the US immigration laws. Their bad choice will impact their children, they are illegal citizens and because their children are minors they have no choice but to follow their parents as they are deported (Should Illegal Aliens). On the other side, those against interfering with the immigration question if there is no harm to America’s National Guard then why interfere? Because the child is a US citizen, the parents are then forced to make the difficult decision of whether or not to separate their family until their papers are approved. This then increases the single parent, non-traditional family for many children (Should Illegal Aliens). Those against resolving the anchor baby â€Å"problem† see no real solution because the children are protected under the 14th Amendment and have the right to live in America. Rather than solving the problem, it is suggested that a bill would simply encourage more people to not renew or even get a green card because of the high chance of deportation (Beck). Children who are born in the Unites States should not be guaranteed citizenship if their parents are not legal citizens. The United States is one of eleven other countries who even have â€Å"jus soli† as an option. The legal phrasing of â€Å"jus soli† directly translates to â€Å"the right of the land† (McNeil). Many of these countries, not including the United States, has citizenship as an option. In 1980, Britain changed their Nationality Act to be a preference rather than a mandate for babies born in the country (The Debate). Germany changed their Nationality Act as well in 2000. â€Å"A child shall be a German citizen only it at least one parent has a permanent residence in Germany or lives in Germany for at least eight years (Nationality Act). The United States must amend the 14th Amendment and clarify the true meaning and value of a child born in America. In the 14th Amendment clearly defines the standards needed to be a US citizen then many of the nation’s current problems would be handled. Illegal parents whose children are keeping them here would be deported. There will be less problems with Medicaid and the country’s tax dollars will not be going to those who live here illegally and receive food stamps and putting their children through the public school system. All immigrants living in the United States will want to be here and will be able to receive the correct form of becoming a citizen. Amending the 14th Amendment will restore America’s patriotism and success. America has proven to be the strongest country in the world. In order for the United States to maintain their strong position, the government must take care of the country’s issues first. The country’s health care must not be fixed by Obamacare. A new bill must be enacted that slowly and correctly fixes the foundational issues of the system before requiring all people to have health care. If thirty-two million were to be on America’s current health care, the system would jam and eventually shut down. Along with fixing health care, the anchor baby citizenship issues must be handled. Ronald Reagan explained the problem perfectly, â€Å"a country that cannot control its borders isn’t a country† (Buchannan). Therefore the 14th Amendment must be clarified and steps must be taken to contain illegal immigration in order for the United States to see a successful future. Works Cited Beck, Roy. Anchor Babies: No More Citizenship. Bloomberg Business week. 2009. Web. 28 Apr. 2012. . Buchannan, Pat . Whose Country is This?. World Net Weekly. N.p., 2010. Web. 29 Apr 2012. . Claeys, Eric. Obamacare and the Limits of Judicial Conservatism. National Affairs. National Affairs, Summ. Web. 27 Apr 2012. . The Debate Over Anchor Babies And Citizenship. National Public Radio. 18 Apr. 2010. Web. 16 Apr. 2012. . Definitions: Writ of Certiorari Law Legal Definition. Uslegal.com. US Legal, Inc., 2012. Web. 29 Apr 2012. . Fixing Medicare. New York Time. N.p., 20 Nov 011. Web. 28 Apr 2012. . Gaziano, Todd, and Elizabeth Garvey. Commerce Clause: Expansion of National Power at †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Expense of Individual Liberty. American Government. ABC-CLIO, 2012. Web. 29 Apr. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦2012. Gheen, W.. History of Illegal Immigration in the U.S.. End illegal immigration. Americans for †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.Legal Immigration, 2012. Web. 29 Apr 2012. Health Care Mandates. Issues Controversies On File: n. pag. Issues Controversies. Facts †¦Ã¢â‚¬ ¦On File News Services, 16 Oct. 2009. Web. 29 Apr. 2012. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. Health Reform Puts American Families and Small Business Owners in Control of Their Own Health Care. The White House. Web. 27 Apr. 2012. . Katz, Daniel. Supreme Court Considers Health Care Reform: Overview. American †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.Government. ABC-CLIO, 2012. Web. 29 Apr. 2012. Klein, Ezra. Who Obamacare Got to the Supreme Court. Washington Post. 2012. Web. 27 Apr. 2012. . Kolken Kolken Immigration Lawyers. Immigration Lawyers, US Immigration News and Law Updates. Web. 20 Apr. 2012. . Langran, Robert. Commerce Clause: Recent Interpretations Diminish State Sovereignty. †¦Ã¢â‚¬ ¦.American Government. ABC-CLIO, 2012. Web. 29 Apr. 2012. McNeil, Brian. Goode Takes on anchor Baby Issue. Daily Progress. 5 Sept. 2008. Web. 29 Apr. 2012. . My Interview with President Obama. CBS News. N.p., 27 July 2009. Web. 29 Apr 2012. . Natelson, Robert G. Commerce Clause: The Misinterpretation of the Commerce Clause. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦American Government. ABC-CLIO, 2012. Web. 29 Apr. 2012. National Archives, . Chinese Exclusion Act (1882). Our documents. United States Archives, †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦1989. Web. 29 Apr 2012.

Customer Relationship Management Techniques

Customer Relationship Management Techniques Competition between enterprises is becoming more intense in the 21st century. Economy is depressed, the industrial structure is changing, and unemployment is at a record rate in India. Under these competitive pressures, it is important to impress and improve the relationship with the customer. Because of the power of information and telecommunications technologies, business can track their customers and determine what they really want and how they actually use the product. Analyzing the information returned from customers and products, business can provide active and accurate service to the right customer through the right channel at the right time and increase customer satisfaction. This paper refers the Customer Service in Customer Relationship Management (CRM) and Information Technology (IT) concepts to analyze and understand the customers needs and realize the competencies of support groups within the enterprise. The customers can therefore be better served and the efficiency and effectiveness of internal company support groups can be improved. The knowledge and experience not accumulated can be solved and the cost of manpower and services reduced. A growing number of organizations have implemented or are considering implementing Customer Relationship Management (CRM) strategies for the purpose of becoming more customers focused. Despite this trend, there remains a relative dearth of academic literature relating to examining the realities of achieving such organizational objectives. CRM systems can be viewed as strategic and operational information systems aimed at enabling organizations to realize a customer focus (Bull 2003). A significant number of organizations operating in diverse business environments have or are considering adopting Customer Relationship Management (CRM) systems (Fjermestad and Romano Jr 2003). Despite this phenomenal growth the organizational record of the successful development and utilizing of such systems is mixed. Some studies of CRM systems projects conclude that organizations are struggling to achieve improvements in customer performance (Giga 2001). However, others highlight a more positive scena rio (Davenport, Harris et al. 2001). As the organizational adoption and utilization of CRM systems evolves, a clearer appreciation and understanding of how CRM systems can affect customer performance should emerge. This study focuses on an integrated Customer Relationship Management (CRM) structure to understand the implications and application of business alternatives using a questionnaire with CRM integration on the Textile industry in India. We will study business CRM implementation using Marketing Strategy Management, Customer Value Analysis, Customer Relationship Management, and Information Technology Application. This studys goals are: (1) Analyzes the key factors of CRM success from scholars and the positive CRM implementation effects to construct a CRM model; (2) Compares the differences between business scale and CRM implementation; (3) Compares the differences between business location and CRM implementation; (4) Determines key CRM success factors and related principles to provide a reference for the Textile industry with a defined CRM model. 2. Literature review 2.1 A brief history of Customer Relationship Management Beginning in the early 1980s, in the United States Customer Relationship Management was called Contact Management. Information was collected from customers and companies. In the early 1990s, call centers were generated and the customer service information analysis function was performed through data warehouse, data mining, and others technologies. Now, Web-enabled Call Centers are used to enlarge the market and determine customer initiated value-added services [1]. 2.2 The various aspects of Customer Relationship Management Kalakota and Robinson [9] considered that the appropriate CRM structure could be realized through three aspects: taking customers from other firms, enhancing customer from other firms, and maintaining the current customer base. Different management functions are needed to achieve the integrated CRM structure. By developing relationships between the business and customers, CRM could be separated into taking customers, serving customers, and customer analysis. Business could use customer profiles effectively to provide real-time, excellent customer service. This is a beginning in developing the next customer through analyzing the customers needs. To realize the four core relations at the center, CRM makes cycling the customer relation process through customer development and data feedback. It is the final target to make customer satisfied and creating profits in different functional collocation of customer relation. However, we can establish an integrated CRM structure involving three topics: Core Relations, Customer Relations, and Information Technology, by centralizing customer analysis [13]. 2.3 The theory of relationship marketing As the time trend evolving and consumer conscious raising, the traditional marketing theory will develop. Kotler [11] considered that the theory of marketing management is generated by five different operating principles (1) production concept; (2) product concept; (3) sales concept; (4) marketing concept, and (5) social market concept. He also considered that the different levels of customer relationship will separate relationship marketing into (1) basic marketing, (2) reactive marketing, (3) accountable marketing, (4) proactive marketing, and (5) partnership marketing. However, under marketing theory development, the traditional sales principles were not suited to the market of today. In business, the important task is how to use relationship marketing with integrated marketing effectively to strive for customer loyalty. Integrated marketing has progressively formed this concept. Kotler [11] considered integrated marketing as all of the divisions in the business that provide servi ces that make satisfied customers. Executing this involves two levels: (1) sales strength, (2) the collaboration of advertisement and product marketing management. At the same time, all related marketing activities must collaborate with all other divisions. To promote collaboration between all divisions, a business had to execute the external marketing and internal marketing. The external marketing is business adopted marketing activities to the external customer. The internal marketing is how to select, train, and motivate employees to provide the best service to the customer. 2.4 Value Compass Perspectives The value compass determines the value of four customer relationship perspectives was brought out by Wayland [5]. It is the strategy the best value of collaboration between business and business through correct connection. We will introduce the four perspectives that the value compass decides the value of customer relationship as follows. 2.4.1 Customer Portfolio Management Customer portfolio management means that how to choice the valuable customer relationship and management principles. It can be separated into three items: (1) Market level. Business makes the portfolio target as all customers in the wide market. The best purchasing-power customer is the best valuable customer. (2) Group level. The object is certainty distinguish or different type group customers. They could give the supplier rich feedback. Managers provide service, which satisfies customers special needs. (3) Individual level. Business has to know deeper customer knowledge and adopt individual management when the needs are very different in relation value, preference, and individual needs. 2.4.2 The setup of value position The value position is meaning that the value exchange degree between buyer and seller. Business will provide much service in the value chain or total experience for the customer to increase the value of the customer relationship. This can be separated into three items: (1) Core product. It can be defined clearly as the special part of customer value chain. Supplier can improve core product or service to reduce the cost of customer. (2) Extended service. Increase more related buyers value chain or total experience. This means that sellers could provide much service for customer to achieve the customers needs. (3) Total resolution alternative. It is wider value position that sellers will intervene in buyers who satisfied or achieved targets to adopt activities including the interrelation and communication channel between them. 2.4.3 Value-added role Value-added role is how business seeks out obtaining the best profit feedback position between customer and suppliers in related value chain. It can be separated into three roles: (1) Product manager. This is a series of interrelated activities and business behaviors that provide a product to buyers; (2) Process manager. It is a multi-perspective connected model between a customer and supplier. The process manager customer relationship involves all position in value position, but it refers to the wider value exchange; (3) Network manager. It involves multi-perspective between buyers and sellers and the connection of related groups. 2.4.4 Reward and Risk sharing The interactive between customers and suppliers is basic on value creating and value sharing. There are three different represented positions as follows: (1) Market-base sharing. It is the basic model of the reward and risk sharing. This was decided by the market and possessed neutral characteristic. (2) Expression-base sharing. In the future, it will hold and operate the price of some products that are risk-taking and uncertainty. They usually determine the risk by negotiation to develop the extend relationship. Quality assurance and after-selling service is common model of risk-taking. (3) Result-base sharing. It is partnering all most people mean joint risk-taking. However, the sharing reward is based on the degree of plan success. Customer portfolio management Added-value role Reward and risk sharing The setup of value position Individual Group Product manager Market Process manager Network manager Result-base Expression-base Market-base Core product Extend service Total resolution alternative Figure 1: Value compass 2.5 Customer Service Management There are three customer service parts including construct service system, after-sales service, and satisfaction investigation. The services provided involve before sales, sale, and after-sale. As business can provide perfect selling process in spot, they can keep the customer to increase opportunity of profit. However, all kinds of follow-up service, it can not only strive customer loyalty and compensate for customer dissatisfied but also stop negative product information from spreading. At the same time, as better understanding of what satisfies the customer, the business learns to provide improved products and services. 2.5.1 Service System Construction Rohit [12] considers that when a business builds a service system, a service design and service delivery process are involved. (1) Service design. Considers the product characteristics suitable for different services. (2) Service delivery. Considers the environment in which the service is provided, and a whole set of alternatives to ensure that service quality is achieved between the salesman and customer. Until now, most business has established a specific customer service department to handle customer related services. The administration in charge of design and controlling customer service, planning and executing all kinds of sales services occur on the spot. It, the call center or service center, will help the business deliver customer service. 2.5.2 After-sales service Management After-sales service is all kinds of services asked for after the sale is completed. This is separated into extended service satisfaction, confirmation management and after-sales service. (1) Satisfaction confirmation management. Business takes the initiative for completed consumer to confirm the product use condition and satisfaction. In the execution of after-sales services, how much resources the business inputs is divided into four items: (a) product questionnaire feedback, (b) acknowledgement letter delivery, (c) telephone interviewing, (d) sales interview. (2) The management of customers complain. An example of the general customer call process, business should obey the following principles to increase customer satisfaction: (a) Calm down the customers feelings, (b) List the emergency, (c) Express concern, (d) Afford redress, (e) Conduct a follow-up investigation. 2.5.3 Customer Satisfaction Investigation A complete customer satisfaction investigation should have overall planning to raise the validity and reliability in investigation result. The identification and supporting of senior manager will affect the result. Only senior manager support should set the investigated target to achieve customer satisfaction through developing research, analysis, and result application. We can separate the complete customer satisfaction investigation process into eight items as follows: (1) senior manager support; (2) investigation target identification; (3) investigation plan; (4) questionnaire list; (5) questionnaire execution; (6) questionnaire result analysis; (7) information sharing; (8) investigation review. 2.6 Information Technology Construction Information technology infrastructure and construction could provide the needed competitive information technology resources. They are also the key factors of forming basic strength difference. Davidoow et al. [7] considered that when information technology infrastructure and construction could allow new business strategies to appear and provide integrated connectivity mechanisms. [4]. Applegate et al. [2] considered a broad definition of information technology that included information technology infrastructure and information technology related operation and opportunity. However, Ken [10] considered that information technology construction could provide an overview of business owned information technology, possible technology, and implies business operation. This connects organization structure and business strategy. Information technology infrastructure is an information technology capability to help business information integration and sharing. Weill [14] considered that the info rmation technology capacity of technology infrastructure possesses not only information technology, but also technology perspectives that provide basic operation levels, communication, software equipment, network systems and management perspectives. Furthermore, Broadbent et al. [4] consider that information technology capacity should also involve the scope of reach and range in business; the scope of reach is connection level of information technology capacity and the range of reach is provided service of information technology capacity. 3. Methodology 3.1 The structure of Customer Relationship Management This study focuses on the cognition and application of CRM in the Textile industry in India. We analyzed the difference between Marketing Strategy Management (MSM), Customer Value Analysis (CVA), Customer Service Management (CSM), and Information Technology Application (ITA) with different characteristics (see Figure 2). Different location H1 Different scale H2 Different employees characteristics H3 Marketing Strategy Management Customer Value Analysis Customer Service Management Information Technology Application Apply CRM structure Figure 2: Research structure 3.2 Hypotheses The hypotheses developed in this work are shown in Table 1. Table 1: Hypotheses Hypotheses H1 The difference in different location to MSM, CVA, CSM, and ITA. H1a There is no significant difference in location to Marketing Strategy Management (MSM). H1b There is no significant difference in location to Customer Value Analysis (CVA). H1c There is no significant difference in location to Customer Service Management (CSM). H1d There is no significant difference in location to Information Technology Application (ITA). H2 The difference in different scale to MSM, CVA, CSM, and ITA. H2a There is no significant difference in scale to Marketing Strategy Management (MSM). H2b There is no significant difference in scale to Customer Value Analysis (CVA). H2c There is no significant difference in scale to Customer Service Management (CSM). H2d There is no significant difference in scale to Information Technology Application (ITA). H3 The difference in employee characteristics to MSM, CVA, CSM, and ITA. H3a There is no significant difference in employee characteristics to Marketing Strategy Management (MSM). H3b There is no significant difference in employee characteristics to Customer Value Analysis (CVA). H3c There is no significant difference in employee characteristics to Customer Service Management (CSM). H3d There is no significant difference in employee characteristics to Information Technology Application (ITA). 3.3 Variable description The structure is combined with Marketing Strategy Management, Customer Value Analysis, Customer Service Management, and Information Technology Application in Customer Relationship Management. The variables are described in Table 2. Table 2: The variables in CRM structure Variables Item Marketing Strategy Management 1. Business make customers become partner to participate the value interchange. 2. Carry out marketing strategy with 4P principles. 3. Each department should pursue for improving service process continuously. 4. Business should set the marketing performance assessment principles to be total marketing. 5. Take customer profile to design sales activities. 6. Take automatic technology assistant tools to design sales activities. Customer Value Analysis 1. Lead in data warehousing to setup and analyze customer profile. 2. Adopt data mining to analyze consumer behavior. 3. Establish specific department to analyze customer profile. 4. Adopt customer value analysis to identify target customers. Customer Service Management 1. It is urgent task to make quick service system as well. 2. Improve quality initiatively to satisfy customer as well. 3. Analyze customer respond question as well to improve service quality. 4. After owning perfect internal customer, business will have satisfied external customer. 5. Business should make investigation of customer satisfaction and apply it. 6. There is a rise trend of customer satisfaction by implementing CRM. Information Technology Application 1. Business and customer interchange continuously by operating information. 2. The database is the CRM base. 3. Make the best profit by applying customer database to provide marketing service. 4. As customer profiles do not be integrated, the utilization ratio of them falls. 5. Lead in the supporting technology which CRM need. 6. Adopt Internet and others related tools to provide convenient customer service. We adopted descriptive statistics, reliability analysis, t-test, One-way Analysis of Variance (ANOVA) by SPSS for Windows 10.0 to analyze the Textile industry in India. 4. Analysis and result 4.1 The questionnaire sample structural analysis We emitted 640 questionnaires and recovered 194 in 2008. The total recovery ratio was 30.31%. Sixty-eight of the 194 returned questionnaires were invalid, making the valid recovery ratio 19.69%. This study was directed at business proprietors and unit leaders. The proprietors occupied 29.37%, senior managers occupied 48.41%, and the middle managers occupied 22.22%. The sample showed that the average business experience was 11-15 years occupied 53.18%, above 16 years occupied 26.98%. The education levels for this sample were above college occupied 93.65%. In sum, the sample had be representative to realize the questionnaire meaning when they answered. The reliability was tested by the Cronbachs ÃŽÂ ± value to each perspective (See Table 3). All perspectives reliability represent high reliable with total questionnaire Cronbachs ÃŽÂ ± value is 0.8446 (above 0.7). The Customer Value Analysis perspective (Cronbachs ÃŽÂ ± = 0.7989) and Customer Service Management perspective (Cron bachs ÃŽÂ ± = 0.7908). Table 3: Reliability analysis Perspectives # of questions Cronbachs a CRM overview 8 0.7285 Marketing Strategy Management 6 0.7998 Customer Value Analysis 4 0.7989 Customer Service Management 6 0.7908 Information Technology Application 6 0.7277 Total 30 0.8446 4.2 The analysis of difference in different location to CRM overview This paper studied the different location relation to CRM first. There was a more positive view in We will have clear CRM direction and target in the future and We should established specific department to maintain and improve customer relation with Central India area businesses than Northern and Southern area businesses. There was more positive view in There is a rise-trend of total satisfaction with customer with the central area businesses than northern and southern area businesses. For this reason, lots of resources are available in Central India. This fuels Textile industry development in the central area. 4.3 The analysis of difference in different location to MSM, CVA, CSM, and ITA. This study used One-way ANOVA to test the significant difference in different location to MSM, CVA, CSM, and ITA (See Table 4). We find that there is not any F-value significant in different location to MSM and CVA perspectives and the entire Mean is above 4. The opinions of sample in MSM and CVA perspectives are the same. We support the H1a and H1b. In the CSM perspective, there is not also any F-value significant in different location to this one, but only on After owning perfect internal customer, business will have satisfied external customer and Business should investigate customer satisfaction and apply it the mean between 3.3 to 4.0, the others are above 4. The opinions of sample in CSM perspective are the same. We support the H1c. Finally in the ITA perspective, there is only Adopt Internet and others related tools to provide convenient customer service the F-value shows significant (P= 0.005) in different location to this one. The others are not significant and the entire Me an is above 4. Most sample opinions in this perspective were the same. We support the H1d. Table 4: Statistic Analysis Items Mean Standard error F Significant Marketing Strategy Management Carry out marketing strategy with 4P principles. 4.51 0.54 0.51 0.951 Each department should pursue for improving service process continuously 4.04 0.70 0.523 0.594 Business should set the marketing performance assessment principles to be total marketing. 4.17 0.64 0.133 0.875 Business make customers become partner to participate the value interchange. 4.13 0.85 1.070 0.346 Take automatic technology assistant tools to design sales activities. 4.16 0.63 0.295 0.745 Take customer profile to design sales activities. 4.27 0.55 0.008 0.992 Customer Value Analysis Adopt data mining to analyze consumer behavior. 4.43 0.53 0.290 0.749 Lead in data warehousing to setup and analyze customer profile. 4.12 0.69 0.716 0.491 Establish specific department to analyze customer profile. 4.26 0.67 0.979 0.379 Adopt customer value analysis to identify target customers. 4.31 0.58 1.256 0.289 Customer Service Management It is urgent task to make quick service system as well. 4.30 0.58 0.038 0.963 Improve quality initiatively to satisfy customers. 4.33 0.80 0.743 0.478 After owning perfect internal customer, business will have satisfied external customer. 3.34 0.91 1.167 0.315 Business should make investigation of customer satisfaction and apply it. 3.93 0.64 0.472 0.625 There is a rise trend of customer satisfaction by implementing CRM. 4.27 0.64 0.244 0.784 Analyze customer respond question as well to improve service quality. 4.30 0.55 0.043 0.958 Information Technology Management Database is the base of building CRM. 4.41 0.53 0.408 0.666 Business and customer interchange continuously by operating information. 4.42 0.51 0.878 0.419 As customer profiles do not be integrated, the utilization ratio of them falls. 4.41 0.56 0.757 0.471 Adopt Internet and others related tools to provide convenient customer service. 4.51 0.52 5.505 0.005** Lead in the supporting technology which CRM need. 4.31 0.74 0.914 0.404 Make the best profit by applying customer database to provide marketing service. 4.06 0.42 0.939 0.394 Note: *p

Essay on Women in the Plays of William Shakespeare -- Biography Biogra

Women in the Plays of Shakespeare      Ã‚  Ã‚  Ã‚   By paying close attention to the woman's part in Shakespeare's plays, we can see his works with a new perspective. But we must remember that we are examining a male dramatist of extraordinary range writing in a remote period when women's position was in obvious ways more restricted and less disputed than in our own period. Sandra Gilbert writes in The Madwoman in the Attic that literature is defined as a mirror held up to society and nature, "the mimetic aesthetic that begins with Aristotle and descends through Shakespeare implies that the poet, like a lesser God, has made or engendered an alternative, mirror-universe in which he actually seems to enclose or trap shadows of reality" (Madwoman 5). While some artists do not necessarily duplicate in their art the "realities" of their culture, they may exploit them to create character or intensify conflict, or struggle with, criticize, or transcend them. Shakespeare, it would seem, "encompasses more and preaches less tha n most authors, hence the centuries-old controversy over his religious affiliation, political views, and sexual preferences" (Lenz 4). His attitude toward women are equally complex and demand as much examination.       As we begin to study the female characters, we must overlook the male superiority that patriarchal misogyny implies in the literature of his era, as evidenced in many studies. In "Shakespeare: on Love and Lust", Charney explains the stance taken by critics such as Janet Adelman in "Suffocating Mothers: Fantasies of Maternal Origin in Shakespeare's Plays, Hamlet to The Tempest", and Kahn's "Man's Estate: Masculine Identity in Shakespeare". He claims that these two authors, as many others do, view Sh... ... mother, wife, nor England's queen" The Roles of Women in Richard III". The Woman's Part: Feminist Criticism of Shakespeare. Ed. Carolyn Ruth Swift Lenz, Galye Greene, and Carol Thomas Neely. Chicago: University of Illinois Press, 1980. Park, Clara Claiborne. "As We Like It: How a Girl Can Be Smart and Still Popular." The Woman's Part: Feminist Criticism of Shakespeare. Ed. Carolyn Ruth Swift Lenz, Gayle Greene, and Carol Thomas Neely. Chicago: University of Illinois Press, 1980. Schoenbaum, S. "The Life of Shakespeare." The Cambridge Companion to Shakespeare Studies. Ed Stanley Wells. Great Britain: Cambridge University Press, 1997. Woolf, Virginia. A Room of One's Own. The Norton Anthology of Literature by Women. Sandra Gilbert. New York: Norton and Company, 1996. www.adfl.org/ade/bulletin/N087/0087015.htm            

Flowers For Algernon :: essays research papers

â€Å"Flowers For Algernon† Report   Ã‚  Ã‚  Ã‚  Ã‚  Ã¢â‚¬Å"Flowers for Algernon† is about a man named Charlie Gordon who is mentally retarded. Charlie signs up for an experiment that is supposed to make him smarter. He wants to be like every one else. To do the experiment he has to keep a journal showing his progress. Charlie starts out spelling almost every word wrong. Charlie’s family and friends have all made fun of him; his parents gave him to his uncle when he was ten.   Ã‚  Ã‚  Ã‚  Ã‚  The experiment starts to work and Charlie gets smarter and he starts realizing new things. Before the operation his imagination and his brain weren’t working that well. His imagination started to work for the first time when he got this operation. Now that he was smart, he could quit his old job of working as a janitor at a bakery and start working for the hospital full time.   Ã‚  Ã‚  Ã‚  Ã‚  Charlie soon becomes aware that his smartness may not stay forever, that he might lose his genius. He starts to research the experiment himself. He studies a little mouse named Algernon who they did the experiment on first. Charlie starts to become attached to the little white mouse. Together they are the smartest of their species. When Charlie and Algernon have to go Chicago for an interview, Charlie gets so frustrated at how all the scientists are talking as if before the operation Charlie wasn’t a real person. In his frustration he accidentally on purpose let Algernon go.   Ã‚  Ã‚  Ã‚  Ã‚  The scientists freaked out and started looking for Algernon. They were in a huge building and most of the doors in the room they were in were open. Charlie was the first to find Algernon, and he put Algernon in his pocket and left the building. They went to the airport and flew home, leaving the scientists baffled as to where Algernon was.   Ã‚  Ã‚  Ã‚  Ã‚  Charlie worked hard trying to discover how long his smartness would last. While studying Algernon, he noticed that he was becoming more jumpy and that he would attack Charlie sometimes. Charlie wondered whether this was because of the experiment. Algernon got worse and he refused to do the mazes and to work. After a few weeks Algernon died. Tests showed that Algernon’s brain had started to shrink, causing him to die.   Ã‚  Ã‚  Ã‚  Ã‚  Charlie’s intelligence started to fall. Slowly he lost it all, from foreign languages to math equations to reading and writing.

Combating The Health Hazards of Technology Use Essay -- Technology neg

Technology has multifaceted benefits. Your smartphone can keep you connected with friends and family, find you healthy dining options nearby, and entertain you with games, music, and videos. Unfortunately technology also has a darker side. Being plugged-in or â€Å"on† all the time can take a toll on our physical and mental health. This essay will explore how we can combat the more common health issues that could be related to our use of technology. The good news is that many of the more common health health problems related to our use of technology can easily be fixed with a few moderations infused in society’s mindset. First, existent health organizations have dedicated their money and time to ensuring proper health guidelines. For example, the United States’ Occupational Safety and Health Administration (OSHA) have issued guidelines for proper ergonomics, which are the principals of quality and movement, when using technology (Health and Technology). Another example includes the International Ergonomics Association, â€Å"which boasts members from around the globe, and is dedicated to improving quality of life by focusing attention on body mechanics and work environments† (Technology and Health). These organizations have already dedicated their time to improving life quality. By making few changes to their works, these organizations can provide a more significant change in society to help correc t society’s addiction to modern technology. First, OSHA has general enforcement authority for workplace safety and health, with the other agencies having enforcement authority for particular types of workplace hazards. OSHA’s primary mission statement states, â€Å"Congress created OSHA to assure safe and healthful condit... ...ity." "Occupational Safety And Health: Federal Agencies Identified As Promoting Workplace Safety And Health: HEHS-00-45R." GAO Reports (2000): 1. MAS Ultra - School Edition. Web. 10 Mar. 2014. Schwartz, Katrina. â€Å"What Students Think About Using iPads in Schools.† MindShift. 13 Feb. 2014. Web. 02 Feb. 2014 "Sports Physical Therapy Institute." Sports Physical Therapy. N.p., n.d. Web. 1 Mar. 2014. "Technology and Health." Global Issues in Context Online Collection. Detroit: Gale, 2014. Global Issues In Context. Web. 12 Feb. 2014. "Teens and Technology." Global Issues in Context Online Collection. Detroit: Gale, 2014. Tim, Parker. "More Concerning Statistics About Twitter's User Base." Benzinga 15 Apr. 2014: Newspaper Source Plus. Web. 22 Apr. 2014. "THE STUDYMODE." Potentially Negative Effects of Technology on Student Attention Spans. N.p., n.d. Web. 1 Mar. 2014.

Principles of Modern Finance Sample Midterm

Principles of Modern Finance Spring 2013 Sample Midterm February 22, 2012 Instructions †¢ You have 1 hour and 40 minutes. †¢ The exam is out of 25 points. †¢ There are 22 multiple-choice questions. 19 questions are worth one point, 3 questions are worth two points and are marked as such. †¢ If you get stuck, move on and come back later. 1 1. A stock is expected to pay a dividend of $10 next year, and this dividend is expected to grow by 5% each year thereafter. What should the price of the stock be if instruments of similar risk are paying 12%? (a) $83. 33 (b) $142. 86 (c) $150 (d) $200 2. A project has the following cash? ows: Year 0 1 2 Cash? w +12000 ? 7080 ? 6654 The IRR of these cash? ows is 9%. Assets of similar risk pay 5%. Should you accept this project? (a) Yes (b) No 3. I am considering buying a Greek government bond that promises to pay $1210 in two years’ time. However, there is a possibility that the Greek government will default between now an d the promised payment. If the government does default, the bond will only pay $500. The probability of default is 0. 5. What should the price of the bond be if instruments of similar risk are paying 10%? (a) $1000 (b) $706. 62 (c) $413. 22 (d) $303. 68 4. I am enrolled in a 2-year MBA program, and have just started classes.To pay the tuition and living expenses, I borrow $50,000 per year (paid at the start of the year). The interest rate on the loan is 5%. I am certain to get a job at the end of the two years of study. That job will be guaranteed for ten years (from the date I start work), at a constant salary which will be paid at the end of each year of work. There are no taxes. I estimate that I will be able to save 1/4 of my income, whatever my income is. What is the minimum salary the job must have to allow me to pay o? my loans within ten years? (2pts) 2 (a) $43,050 (b) $50,000 (c) $55,752 (d) $61,339 5. A credit card company o? rs me a card with 20% APR, compounded daily. I make purchases of $3,000 on the card, and allow interest to accrue on those purchases for a year. Assuming each year has 365 days, the amount I will have to pay back is: (a) $3,315 (b) $3,600 (c) $3,664 (d) $3,901. 30 Answer the next two questions with reference to this information: Analysts argue that two things can happen over the next year: the economy can continue as it is or it can go into recession. The returns of two stocks: General Electric (GE) and Cisco (CSCO) in each possible state are given below: State Return on GE Continue as-is 15 Recession ? 5 Return on CSCO 5 -1 The analysts estimate the probability of continuing as-is to be 0. 8 , and the probability of a recession to be 0. 2. 6. What is the expected return on a portfolio which is 120% in GE and ? 20% in CSCO? (a) 10. 04% (b) 8% (c) 2. 55% (d) 0% 7. What is the variance of CSCO? (a) 1. 96%2 (b) 5. 76%2 (c) 13%2 (d) 23. 04%2 3 8. Alice can get a one-year loan at 5% at her bank, while no bank is willing to give Brad a one-year loan for less than 10%. Brad has just had surgery, and must pay the hospital $10,000 immediately, but he has no money today, though he will have money in one year. So Alice o? rs Brad a proposal: she will borrow $10,000 from her bank for one year on her own account, and Brad will repay this loan. In addition, he will pay Alice a sum of money today. What is the maximum amount that Brad should be willing to pay Alice up-front under this arrangement? Alice is not willing to consider borrowing more than $10,000. (2pts) (a) $454. 54 (b) $377. 18 (c) $476. 19 (d) $500 9. The risk-free interest rate today is 7%. One year ago, you bought an asset which is risk-free and would pay $100 two years from the date of purchase. The risk-free interest rate on the date of purchase was 10%. You sell the asset today.What is the rate of return (HPR) that you made? (a) 13% (b) 10% (c) 7% (d) 15% 10. The correlation between Alcoa (AA) and American Express (AXP) is 0. 3. You want to form a portf olio, investing 50% in each stock. What is the variance of your portfolio’s return? You have the following information: AA AXP 10 12 8 16 Expected return Standard deviation of return (a) 85. 76%2 (b) 99. 2%2 (c) 121%2 (d) 144%2 11. If you can get an 8% return (annual e? ective) on a ten year CD from your local bank, would it be wise to invest in a 10 year bond which promises to make a single payment of $1000 at the end of its life? Assume both are equally risky). This bond costs $475 now and will pay $1000 in ten years. 4 (a) Yes, the bond is better. (b) No, the bond is worse. (c) Can’t tell from information given 12. You are given the following information about portfolios of two risky assets, A and B: Weight in A Weight in B Std. dev. of portfolio 0 1 12 0. 5 0. 5 14 1 0 16 What is the covariance between A and B? (a) 192%2 (b) 168%2 (c) 224%2 (d) Cannot be determined 13. A ? rm in a well-functioning capital market has the following projects available. The risk-free r ate is 10%. Which should it invest in? NPV IRR X 10 15% Y 0. 3% Z -5 22% OCC 22% 5% 6% (a) X only (b) Z only (c) X and Y (d) X and Z (e) All three 5 14. You are considering investing in a bond. This bond costs $300 now and pays $550 in ten years. What is the IRR of this investment? (a) 1. 06% (b) 6. 25% (c) 8. 33% (d) 9. 01% Answer the next two questions using the following information: A project has the following expected cash ? ows. Year 0 1 2 Expected cash? ow ? 370 814 ? 447. 7 The IRR of these cash ? ows is 10%. 15. Which of the NPV functions on the following page best describes this project? (2pts) (a) Graph A (b) Graph B (c) Graph C (d) Graph D 16.Given your answer to the previous question, what is the range of discount rates for which you should accept this project? (a) 10% only (b) Greater than 10% (c) Less than 10% (d) Always accept, except at 10% (e) Always reject 6 NPV NPV 10% Discount rate 10% Discount rate Graph A Graph B NPV NPV 10% Discount rate 10% Discount rate Gra ph C Graph D 7 Answer the next six questions using the following information: Boeing is a very pro? table aeroplane manufacturer. It is considering building a facility to manufacture 747s on 10,000 acres in the Nevada desert. It is not considering any other sites.To encourage Boeing to set up the facility, the local chamber of commerce has bought the land and has o? ered to rent it to Boeing at a rent of zero dollars per year. Assume that this â€Å"gift† has no tax implications for Boeing. If Boeing were to try to rent the land in the open market, the rent would be $1,500 per acre per year, payable at the end of each year. Building the factory will cost Boeing $800M (800 million dollars), of which $200M is payable today and $600M will be need to be paid as soon as the factory begins production. It will take one year to build the factory and start production.The IRS says that the $800M cost can be depreciated (straight-line to zero) over the ? rst twenty years in which the fa ctory produces aeroplanes. However, Boeing expects that the demand for the 747 will eventually dry up, and so they plan to scrap the plant after the ? rst ten years of production. They expect the scrap will be sold for $100M. Boeing expects the facility to produce and sell three Boeing 747 aeroplanes a year, with the ? rst batch ready by the end of year 2. Raw materials cost $100M per plane, and labour costs will be $120M a year. Labour costs will be paid at the end of the year in which they are incurred.Raw material will be paid for one year late (i. e. , raw material costs incurred in year 2 will be paid at the end of year 3). Sales will be paid for two years late. Inventory is always 0. The price Boeing will receive for each plane is uncertain. It might be as high as $500M, or as low as $200M. Most likely, the price will be $400M. On average, the price they expect to receive is $350M. Boeing’s corporate o? ce is located in Chicago. Currently the CEO and his sta? make 120 ? ights a year in the corporate jet. Each ? ight costs $200,000. If the Nevada facility is built, the CEO will have to make ten more ? ghts a year, starting in the ? rst year of production, with the cost per ? ight being the same. The cost of the ? ights is incurred at the end of year in which the ? ights are made. The salary of the CEO will remain ? xed at $12m per year. However, the corporate o? ce has decided to allocate $1m per year of this cost to the Nevada project, should it be built, starting at the end of year 2. This allocation has no tax implications. Boeing has another project which they wanted to start today. This project has a single after-tax cash in? ow of $20 million one year after it is started (and no other in? ws or out? ows). Building the factory in Nevada will occupy executive time, and mean that Boeing will have to delay starting this project until the Nevada factory begins production. Taxes are expected to be 30%. The discount rate is 8%. 8 17. When calculatin g cash ? ows for NPV, the revenue in the income statement at the end of each year of production will be (a) $600M (b) $1050M (c) $1200M (d) $1500M 18. The expected cash ? ow the ? rm obtains from scrapping the plant after ten years of production is (a) $70M (b) $90M (c) $100M (d) $190M (e) $280M 19.The cost that you will show in the income statement for each year of production will be: (a) $420M (b) $422M (c) $423M (d) $438M 20. What is the working capital at the end of the second year of production? (a) ? $300M (b) $750M (c) $1050M (d) $1800M 21. What is your net cash ? ow two years after the plant has stopped producing, that is, at the end of year 13? (a) $0 (b) $735M (c) $750M (d) $1050M (e) $1800M 9 22. The PV today of the opportunity cost from delaying the other project is: (a) $20M (b) $18. 52M (c) $17. 15M (d) $1. 37M 10