Weighted Average Cost of Capital and Yeats

Extra Credit Assignment: Yeats Valves and Controls Inc. Completed as a Group with the Following Individuals: (in alphabetical order by last name) Adetunji Adeniyi Tung F. Cheng Gregory Chiu Rashmin Patel WenHao Zhang Course Title: Accounting and Finance Course No. /Section: MG6093 Instructor: Frank X. Apicella November 28, 2012 Yeats Valves Question The following are questions which should focus the groups on important aspects of the Yeats Valves case. Note the actual case name is Yeats Valves and Controls, Inc. The case number is UV0094.There is also a spreadsheet – that number is UV0184. As mentioned   – the corresponding case is TSE  International Corp. – case # UV0114. 1. What is the situation that this company faces? Yeats Valves and Controls, Inc. is currently considering a merger with TSE International Corporation. The founder, who is Chair and CEO, W. B. â€Å"Bill† Yeats, is about to reach his 62nd birthday and does not have a succession plan. He is concerned with the future of his company as none of the other executives can take his place because they are all specialists.Bill Yeats believes that TSE can provide stability to Yeats as he is reaching retirement, and TSE is a larger company with better marketing and global distribution channels. However, he is concerned with the fit of the two companies even though he thinks TSE is a better partnership than other alternatives. 2. What are the strengths and weaknesses of Yeats and its counterparty, TSE? Unlike TSE, which is more global-oriented with indirect distribution channels, Yeats has a stronger national and direct distribution channel.TSE has a larger mass market production system (high volume) while Yeats has a more customized market production (lower volume). In addition, Yeats has a strong R&D, having many patents for multiple applications, particularly with its latest development of the Widening Gyre Program that has a high-profile government contract. This might not be reflected in the stock of the company as a growth opportunity. 3. Why should Yeats and TSE want to negotiate a merger deal?Yeats is considering this merger deal because it would offer a succession plan for the company as TSE is a much larger company that can offer Yeats financial stability without having Yeats to identify new capital (debt and equity) on its own to fund the Widening Gyre Program (an advanced hydraulic-controls system). Yeats needs additional funding in order to continue the R&D of the Widening Gyre Program. Also, TSE has the expertise of mass manufacturing that Yeats need for widening its reach in commercialized distribution.In order to maintain a competitive edge, Yeats need both the finance and manufacturing capabilities of TSE as other competitors in the same industry have been consolidating more and more. However, Bill Yeats is concerned about losing voting control from a merger with TSE. He also wants to ensure that Yeats employees are kept after the mer ger and its stockholders gain value from the merger. He wants TSE to continue the R&D and commercialization of the Widening Gyre Program; and for him to stay on as head of Yeats until TSE can fully operate Yeats by ffering him a reasonable bonus plan. Though Bill Yeats could turn to another company, Rockheed Marlin, a large defense contractor, or other companies, he prefers TSE because he is familiar with TSE and they have complementary needs. Bill Yeats also ruled out a joint venture with TSE because he felt it was an inferior alternative as it will have the same integration issues. To reduce tax obligations, Yeats and TSE want to complete the merger in a stock-swap deal. 4. Use valuation analysis to determine the valuation of Yeats. What are the key value drivers?As mentioned above – Note the Harvard web site has a student spreadsheet for Yeats Valves that you  should  use as the basis for your analysis. Questions are contiinued below – One way of determining val uation of Yeats is through WACC, the Weighted Average Cost of Capital. It is the minimum return a company needs to earn in order to satisfy its investor base (as weighted for the amount of debt vs. equity in the target/capital structure), which is what the company must pay investors to raise new financing to support new projects or ventures.WACC is particularly useful here because Yeats has no debt, thus, it is an equity financed company. In the case of Yeats, the company must have capital to continue to develop and market its new Widening Gyre Program. The formula for WACC = Re (E/V) + Rd (D/V)(1-t) However, because Yeats does not have debt, the second half of this formula, Rd(D/V)(1-t) is not necessary. Being that Yeats has zero debt, the value of its equity is in full, which represents its Enterprise Value. Tax (t) is determined in the case as 40% or . 40 (p. 5).We must then calculate the CAPM for the cost of equity (see Excel sheet for details): Re = Rf + Beta (Rm-Rf) Re = Requi red Return on Equity Rf = Risk Free Rate = 5. 98 (p. 16) Beta = Measure of Risk relative to the general market (volatility) = 1. 5 (p. 5) Rm-Rf = Equity Market Risk Premium (EMRP) = 5. 5 (p. 16) Rm = Market Risk Rf = Risk Free Assets (U. S. treasury security) With Beta at 1, the stock price changes in precise tandem with the market, but with Yeat’s beta at 1. 5, it is more risky than a group of peer stocks. Thus, Re = Rf + Beta (Rm-Rf) Re = 5. 98 + 1. 5 x 5. 5Re = 14. 23%, the cost of equity at for Yeats Then calculate WACC = Re (E/V) + Rd (D/V)(1-t) WACC = 14. 23 (100%) + 0 (0%) (1-40%) WACC = 14. 23% Addtional Questions for Yeats / TSE cases 5. What do you believe Yeats valves is worth? What key financial assumptions determine the range of high and low values in your valuation analysis? Also, draw on any other valuation approaches and information that you can. With WACC = 14. 23% Assuming Terminal Growth Rate = 4% 1) Terminal Value (or present value at a future point) with $ represented in 1,000 = $7059. 8 (1+4%) (14. 23% – 4%) $71771. 1 = $72 million 2) DCF (Discounted Cash Flow calculated using a financial calculator): CF0 = 0 CO1 = 4689. 3 CO2 = 4584. 3 CO3 = 5302. 1 CO4 = 6127. 4 CO5 = 78830. 9 I = 14. 23 NPV = 55306. 17 NPV = $55. 306 million 3) Equity Value= 55,306,170 Minus Debt= 0 Divided by Outstanding Shares = 1,440,000 or $55,306,170 1,440,000 Equity Value per Share = $38. 407 per share Other valuations can include comparing P/E ratios with other peer companies. Also comparable are Price/Revenues, Price/EBIT and Price/EBITDA. See exhibits 8 and 9 for comparable Ratios of Peer Firms. 6.What are the advantages and disadvantages of a combination between Yeats and TSE Int? The advantages of combining Yeats with TSE would be that Yeats can offer R&D expertise that TSE lacks, and TSE can offer manufacturing and marketing expertise that Yeats lacks. With TSE’s commercialized global reach and Yeats’ national government contract s, it would be expected that there would be financial synergies that would benefit both companies in the long-term, including cost savings from greater purchasing power for materials and components, and application of TSE’s Six Sigma for higher quality control savings.This would increase value to stockholders of both organizations and offer diversification. However, the disadvantage would be that the two companies operate differently and will have to find a common ground that would allow them to merge their cultures. One of the concerns mentioned in the case is that Yeats has a more entrepreneurial operation that might not fit TSE. Both companies will have to be open-minded to learn each other’s methods of operations. 7. What risks do TSE Int. and Yeats Valves face in the proposed merger?Consider a range of transaction, financial and operating risks. What effect do these risk factors have on the value of Yeats Valves? In the proposed merger, TSE will not want to over p ay for the proposed merger while Yeats will not want to be under-valued in the stock swap. Yeats has a concern that TSE may under-value its Widening Gyre Program, which could be under-estimated by the market price. Bill Yeats wants to stay on to operate Yeats after the merger with a bonus and return to R&D rather than focusing on raising capital.TSE has to know how much value such a transaction will offer TSE being that TSE has very little experience in financing R&D. Both companies must consider their differences in operating cultures and the risks involved over the long-term viability of the two companies. TSE must consider how long they will have Bill Yeats as he is nearing retirement at a time when TSE might need Bill Yeats to maintain the success of this merger. What long term bonuses may be required to attract Bill Yeats to remain, and what succession plan might TSE have to come up with for Yeats Inc.?These are all risks to both parties. 8. Develop a negotiating strategy i. e. , an opening asking price to sell your company – Yeats – as well as the price below which you would walk away from the deal. Justify your ‘drop dead’ or walk away price. Being that the Terminal Value is at $72 million, we would ask to sell Yeats to TSE at that opening price. However, in calculating the Discount Cash Flow Value with Net Present Value at $55 million, this would be the drop dead price we would walk away from the deal.A value between these ranges would be preferred, as the minimum ($55 million) represents the equity value of Yeats and the maximum ($72 million) represents the future value of Yeats. In addition to the price negotiations, we would also negotiate social terms (as suggested by Bill Yeats). This includes for Yeats’ employees not to be terminated after the merger and Bill Yeat to remain as head of Yeats with bonuses (five year options to purchase 80,000 shares of TSE stock at 90% of market price at the close of acquisition, a nd an incentive bonus of $50,000 to $200,000 per year).

Discuss psychological explanations of one eating disorder

Discuss Psychological explanations of one eating disorder. (8+16) Psychological explanations of obesity Include the psychodrama and the behaviorism approach. Behaviorism suggests three means by which obesity may occur; classical conditioning, operant conditioning and social learning theory. There Is a great deal of evidence for the behavioral explanation. Classical conditioning is where eating becomes associated with other behaviors that are often routine, leading to eating when not hungry for example snacking whilst watching TV.Evidence for this as a cause of obesity comes from Fletcher et alls ‘Do something different' study which shows how breaking such habitual associations prevents overeating, and so leads to weight loss, even for people who are not actually dieting. Furthermore, evidence for the role of operant conditioning, which is related to food being used as a reward, comes from Wanting at al who noted that people can turn to food and eat excessively for comfort, usin g food as a reward.However, operant conditioning alone cannot explain obesity, as we know there are biological factors which affect how rewarding retain foods are, therefore the behavioral approach as an explanation of obesity can be seen as reductionism. Operant conditioning, although not offering a full explanation for the causes of obesity, does have some good practical applications. Techniques using operant conditioning have been very successful in reinforcing healthy eating practices.Devoid and Yankton found Up's on such a programmer has an average weight loss of between 1 5 and 20 Lbs on the scheme. However, Just because it is successful in treating the eating disorder doesn't mean it can be seen as a viable cause for obesity. Social Learning theory is the third means by which the behaviorism approach suggests obesity may occur and it suggests that obesity is due to observing and imitating obese role models, particularly people we identify with in some way.In order for this to be valid, the relationship between one obese person and the role models around them has to be assessed. Chalks and Fowler did Just that and found that a person's chance of becoming obese Increased by 57% If they had a friend who became obese. However, although many extraneous variables were enthroned in this study, it was still only correlation in nature and correlation does not indicate causation meaning other factors such as biology or culture cannot be ruled out as other possible contributing factors to obesity.Although there is a great deal of evidence to support the behaviorism approach it can be seen as limited as it ignores biological and genetic factors that also have a great deal of support with regards to causing obesity, egg Standard et al who found a strong relationship between adopted and genetic mother's weight and no relationship between adopted and adoptive arena's weight. However, taking the deterministic nature of the behaviorism approach as a positive It does hav e an optimistic message with regards to beating obesity.Due to the fact the basis of the behaviorism approach Is that all behaviors are learned and can therefore be unlearned, means that obese people may be more willing to try dieting and other forms of lifestyle change more readily than if they futile. There is a problem with this view however as it focuses on the role of nurture rather than nature which can often cause blame to be put onto parents for their bees children.While in some cases this can have a positive effect as the parent realizes the necessity of educating their child on healthy food choices and not associating certain activities with food, it can also raise ethical issues as families are not protected from potential emotional harm from being blamed for their obese child's health issues. In addition to the behaviorism explanation of obesity, the psychodrama explanation of obesity offers an alternative on the causes of this eating disorder.The psychodrama explanation of obesity is based around Fraud's incept of problem behaviors in adult hood being due to unresolved conflicts that occurred during childhood development through the psychosocial stages with obesity being linked to unconscious desires of the oral phase. This could be caused by a lack of gratification in the oral stage or over gratification and both could lead to obesity. Evidence for the role of the ID (a structure of the unconscious mind that is concerned with gratifying needs) and oral fixation come from Grant and Borders who found that adult loneliness was a key issue in overeating for all Up's.Furthermore, bused Up's used food to ‘numb pain' whereas non abused Up's used it to recreate warmth and nurturing experienced in childhood that they missed in their lonely adult life. This shows the effect of both under and over gratification in the oral stage of psychosocial development. It seems that as an adult, emotional difficulties or trauma may lead to regression to the oral stage thus overeating. Eating may also result as a substitute for affection.However there are a few issues with this study; there was only a very small sample and the fact that the research was very sensitive means that the reliability of Up's recall may be questionable. However, as with the behavioral approach, there are practical applications associated with the psychodrama approach for example it highlights the need for social support; if a person does not feel lonely at a time of emotional distress, it seems the regression back to the oral stage and thus overeating may not occur.In addition to social support, the psychodrama explanation of obesity highlights the cause which can then be used to treat obesity, which in this case is a symptom of a larger problem; Hereford there is optimism attached to this explanation as with the behaviorism approach. Furthermore, Rounded et al has also found a link between childhood abuse and obesity. They found that child sexual abuse is associat ed with a doubling of odds of obesity in a telephone sample of 4,641 women.However once again there are methodological issues regarding this research as it is geocentric so cannot be generalizes to the wider population of both men and women- it lacks population validity. There is also further supportive evidence from Williamson et al who found NY form of abuse can lead to an increased chance of obesity showing regression into childhood and the oral phase in order to find missed gratification.However, there are many issues regarding the psychodrama approach including the fact that it cannot be investigated scientifically using the features of science that psychology attempts to follow. It is speculative in nature and based on philosophy of the mind rather than scientific fact. Therefore the validity and reliability of the explanation of obesity is very low. It can never be scientifically proven due to its nature so will

Computer Aided Instruction Essay

1.0 Introduction 1.1Background of the Study Bagbag National High School is one of those schools that include computer subject in their curriculum. The School wants to equip their students to become knowledgeable in computer. Bagbag National High School was established in the year1967 when President Ferdinand E Marcos approved the Presidential degree that arms on the urgent needs of the high school in every baranggay and that reaches out poor children in rural areas who cannot afford to study in private school due to financial difficulty. It began operatively from a single room made of sawali with fire teachers composed of four female and a male built through the joint efforts of the PTA Officers pioneered by Luis Pasco Sr. and Ligtong Elementary School Principal, Ms. Lilia Santos in 1968 within the locate of Ligtong Elementary School, Ligtong Rosario Cavite, initially known as Ligtong Community High School. (LCHS) In the same year elementary and high school were separated as ordered. The teachers of ligtong baranggay High Scho ol sought assistance from the former Mayor Atty. Ernesto Andico and Governor Johnny Remulla to find a new site for the high school. Fortunately the Philippines National on Company (PNOC) donated a parcel of land measuring 14,933.5 Square meters in 1991 considering that the site was a farm land and it was indeed four years of former Congressman Jun Nazareno fencing of the vicinity of the school was made possible. The construction of the first school building was through the assistance of Japan International Cooperating Agency amounting 1.5m pesos. This school was spearheaded by Mrs. Emilina L. Barlao the school principal. Currently Bagbag National High School has 64 faculties and staff. The school also has 2,143 students. This school offers Elementary and highschool education. They have 30 computers in their Computer Laboratory. The school currently offers computer subjects to 3rd year and 4rth year high school students. The teachers of the 4rth yr student’s who we interviewed revealed that other students in 4rth yr cannot easily understand the Mathematics subject because there are so many student on every room and that causes some of them to not understand well what the teacher is talking about.. So this is the reason why we planned to make the system CAI. To help the students who can’t understand math easily also to help the instructor in Math to teach the Math subject. 1.2 Statement of the Problem. 1.2.1 General Problem How to design, develop and implement a Computer Aided Instruction in Mathematics for 4rth year student in Bagbag National High School. 1.2.2 Specific Problem 1. How to create a module that can increase student’s interest in mathematics subject? The other student who can’t get understand math easily, think that math is so hard subject for them. Because it all about number and difficult problems. So we need to create a module that can give them interest to study the math subject. 2. How to design a module that will monitor the student’s progress in Mathematics. The teacher of the students needs to manually check the written exercises and examination of each student to monitor if the students understand the lessons taken in math subject. 3. How to create a module that can test the learning comprehension of each student in mathematics subject? The teachers need to provide written examination. The teacher needs to give a sample to be solved by the students. 1.3Objective of the Study 1.3.1 General Objective The main objective of the study is to design, develop and implement a Computer Aided Instruction in Mathematics for Bag Bag National High School. 1.2.3 Specific Objective 1. To create a module that can increase student’s interest in Mathematics subject 2. Design a module that will monitor the student’s progress in mathematics subject. The system generates individual history report and summary report this help to the teacher in monitoring students progress on math subject. 3. To create a module that can test the learning comprehension of each student in Mathematics subject. Quizzes and seatwork were provided to enhance their knowledge and test their comprehension from lessons they have taken. 1.4 Significance of the Study 1.4.1 4th Year Students The 4rth year student as the users will be benefited by the system. Aside from being additional tool in learning Mathematics subjects, the system also introduce the user into world of computer based-learning. The system will capture the student’s attention because the system is interactive and will engage the student’s competitiveness to improve their skills by improving their score in quizzes and chapter examination. 1.4.2. Teacher Through the progress report of the system, the teacher can monitor the students who are fast and slow learners. The teacher can make sure that the pupils have enough understanding of the lesson before proceeding to the next lessons. 1.4.3Bag Bag National High School Computer Aided Instruction in Mathematics can help BagBag National High School to provide additional tool for students in learning math subject. 1.4.4Proponents Through the system, the proponents can enhanced their skills and knowledge through brainstorming and group work. 1.4.5Future Researchers The system can serve as a basis or guides for future researchers who will be having similar studies. 1.5Scope and Limitation Scope * The contents of the system are the basic lessons regarding Mathematics subject of the student. * Quizzes and examination were provided to know the outcome of the lessons by the 4th yr students. * It generates individual progress report that provides the history of the quizzes and chapter examination taken by the specific user and summary report to monitor the progress of the entire user. * English was used as the medium of instruction. Limitation * The system will not use 3D animation in discussing the lesson. * The study does not cater to changes of the curriculum as well as literacy of the student in computer fundamentals. * It will not be utilized to completely replace the teachers, but it will provide additional tool for a student to cope up with his/her studies. 2.0Methodology Prototype A prototype is the sample implementation of the system that shows limited and main functional capabilities of the proposed system. After a prototype is built, it is delivered to the customer for the evaluation. The prototype helps the customer determine how the feature will function in the final software. The customer provides suggestion and improvements on the prototype. The development team implements the suggestion in the new prototype, which is again evaluated by the customer. The process continues until the customer and the development team understands the exact requirement of the proposed system. Requirements Gathering Analysis Design Test Implementation REQUIREMENTS GATHERING Requirements gathering are an essential part of any project and project management. Understanding fully what a project will deliver is critical to its success. This may sound like common sense, but surprisingly it’s an area that is often given far too little attention. Many projects start with the barest headline list of requirements, only to find later the customers’ needs have not been properly understood. ANALYSIS Systems analysis is a process of collecting factual data, understand the processes involved, identifying problems and recommending feasible suggestions for improving the system functioning. This involves studying the business processes, gathering operational data, understand the information flow, finding out bottlenecks and evolving solutions for overcoming the weaknesses of the system so as to achieve the organizational goals. System Analysis also includes subdividing of complex process involving the entire system, identification of data store and manual processes. DESIGN Based on the user requirements and the detailed analysis of a new system, the new system must be designed. This is the phase of system designing. It is the most crucial phase in the development of a system. The logical system design arrived at as a result of system analysis and is converted into physical system design. In the design phase the SDLC process continues to move from the questions of the analysis phase to the how. The logical design produced during the analysis is turned into a physical design – a detailed description of what is needed to solve original problem. Input, output, databases, forms, codification schemes and processing specifications are drawn up in detail. In the design stage, the programming language and the hardware and software platform in which the new system will run are also decided. Data structure, control process, equipment source, workload and limitation of the system, Interface, documentation, training, procedures of using the system, taking ba ckups and staffing requirement are decided at this stage. IMPLEMENTATION After having the user acceptance of the new system developed, the implementation phase begins. Implementation is the stage of a project during which theory is turned into practice. The major steps involved in this phase are: * Acquisition and Installation of Hardware and Software * Conversion * User Training * Documentation The hardware and the relevant software required for running the system must be made fully operational before implementation. The conversion is also one of the most critical and expensive activities in the system development life cycle. The data from the old system needs to be converted to operate in the new format of the new system. The database needs to be setup with security and recovery procedures fully defined. TEST Before actually implementing the new system into operations, a test run of the system is done removing all the bugs, if any. It is an important phase of a successful system. After codifying the whole programs of the system, a test plan should be developed and run on a given set of test data. The output of the test run should match the expected results. Sometimes, system testing is considered as a part of implementation process. STI COLLEGE ROSARIO Computer Aided Instruction in Mathematics for 4th year Students of BagBag National High School Proposal Presented to System Technology Institute STI College Rosario In Partial Fulfillment Of the Requirements for the Degree of Bachelor of Science in Information Technology By: Alberto, KrisJoie G. Caà ±ete, Lenie Ann J. Guevarra, Rema Shiela O. Poblete, Cristina C. Ms. Mary Rose Musa September 5, 2013

Faculty Evaluation Development Essay Example | Topics and Well Written Essays - 500 words

Faculty Evaluation Development - Essay Example Faculty evaluation usually involves assessment of the faculty members based on a set of performance indicators such as teaching, scholarly activity or creative endeavors, professional development and institutional/university involvement and community service. Such evaluations should use multiple sources including students, peers and the faculty members themselves (Paulsen, 2002). As the chairperson of the Faculty Evaluation Development committee of the University, I would like to co-opt the following members of the committee and for reasons detailed below. 1. All Academic Deans of the university who will be responsible for providing collated data obtained from students, peers, and faculty through the department heads/chairpersons. These data will be used to evaluate each faculty member. The deans will also be entrusted with the responsibility, at the end of the annual performance appraisal, of holding discussions with the faculty members under their jurisdiction to motivate and guide them to better their performance. The department heads/chairpersons, on the other hand, will hold private discussions with each of their faculty members on their assessment and also make discussion on assessment a regular part of departmental faculty meetings. 2. External expert/consultant. This person will be an important component of the committee to deal with the faculty concerns that are bound to be there to the evaluation system. Having an outside consultant as a conduit between faculty and the administration could help overcome faculty resistance to the evaluation process (Arreola, 2007). A consultant could also help to convert the ambivalent faculty. It would help if the consultant is someone preferably trained in educational psychology and of an affable and non-threatening demeanor. Â  

Strategic Analysis Research Paper Example | Topics and Well Written Essays - 1500 words

Strategic Analysis - Research Paper Example However, the company particular focuses to target United States and sustain it edge in the industry. The company is currently facing criticism that Voss contains similar sources as the tap water due to which the company is currently struggling to sustain its positioning in the industry. However, the competition in the bottled water industry is becoming intense with the passage of time. The present document strategically analyzes Voss Water and its positioning in the industry. In order to determine the positioning of the company, industrial analysis, PESTLE analysis and PORTER five forces analysis have been conducted to determine strategic positioning of Voss Water in the  Bottled Water industry (Anon., 2014). The overall trend in Bottle Industry has significantly improved that has significantly affected the sales of the bottled water. According to a report of International Bottled Water Association (2014),  "Bottled Water Industry in the United States has showed significant growth during 2012-2013 after the Great Recession 2009  (IBWA Report, 2014)".  Despite the fact that the United States  has slower economic recovery but has high-income level due to which the consumer are comfortable to spend money on discretionary items, including bottled water. It is predicted that the improvement in the economic conditions will cast  positive impact on the revenues of bottled water industry (Hamphell, 2013). The consumer’s response is improving with the passage of time (2008-2009) due to which the some of the consumers that were distracted from the high-calorie beverages are also now getting back to the same category. On the contrary, the low-income Americans that were also disprop ortionately affected are currently struggling for employment due to which they are inclined towards discounted bottled water. In 2013, the off-trade value sales of bottled water have increased by 2 percent. However, the prices of the bottled water have

Discuss the diagnostic value of CT and MR imaging in the diagnosis of Essay

Discuss the diagnostic value of CT and MR imaging in the diagnosis of hepatocellular - Essay Example The environmental factors are also found to have a greater influence on HCC. The higher level of consumption of alcohol also causes HCC. (Carr 2009). The recent advances in the tissue specific image analysis have made the diagnosis of the diseases at the inner organs very easy with high sensitivity. MRI and CT are the two techniques that use the image analysis. HCC is a very chronic liver disease with several levels. Hence the diagnostic of each level is very essential for the complete treatment and also for resection of the part. (Kamel and Bluemke 2002). Any destruction to the liver parenchyma, biliary ducts and vascular structures must be analyzed properly to study the liver dysfunction. HCC can occur as an infectious or inflammatory disease resulting in storage and metabolic disorders and sometimes may lead to vascular diseases or neoplastic disease. Diagnosis of HCC: When a person is suspected with HCC, the ultra sound diagnosis is done first and if the case is found to be much severe then contrast medium – enhanced helical computed tomography (CT) along with dynamic magnetic resonance (MR) imaging is used. Combination of CT and MR is found to give accurate non-invasive screening modalities. At the time of diagnosis, the tumor may be small or large. The infection level may be small or chronic. The diagnosis must be able to provide complete information regarding the condition of the tumor and the level of treating it. For this we require a proper diagnostic technique. The studies have found that MRI or CT can provide better diagnostic results. But it was also found that MRI can predict results only to certain limit and so do CT. So a further analysis of these techniques will provide a good idea of what to use and when to use. As HCC are hyper vascular disease, contrast agent is used for the diagnosis. There are four phases in the liver CT scanning. They are pre contrast, arterial phase, portal venous phase and delayed phase. The CT scan is performed for these phases based on the disease condition whether it is hyper vascular or hypo vascular. In CT scan, the pre contrast phase imaging helps us to detect the calcifications in the liver and they are also able to demonstrate the hyper vascular lesions present hypo attenuating to the parenchyma liver cells. (Hayashida et al. 2007). The arterial phase imaging is done after 30 seconds from the injection of contrast phase. The arterial phase scanning is used to demonstrate the hyper vascular lesions that are present in the liver by the enhancement of the liver. This arterial phase imaging helps the doctors to decide whether to go for operation of the tumor or treat it with medicines. This imaging is done as a 3D imaging and thus is of more useful in diagnosis. The portal venous phase is done after 70-90 seconds of injecting the contrast medium and they help to evaluate the hypovascular lesions in the body. (Kamel and Bluemke 2002). The last phase is the delayed phase where the lesions are characterized further after 5 – 10 minutes of injection. The HCC can be seen as hypodense lesions as the contrast pahse is washed out completely. Pathologic changes in the hepatic cirrhosis: Cirrhosis occurs due to the hepatic injury and results in the fibrosis diffusion. The nodules are regenerated from the liver cell necrosis and

Lab report Example | Topics and Well Written Essays - 1250 words - 1

Lab Report Example They reported seeing a man in jeans, trainers and a T-shirt running away from the house, down Leek Road. The police were informed and responded immediately. The back door of the house had been broken and the sunroof of the VW Polo. Paint and glass of both the car and the property had been damaged. Both of them were damaged so as to allow entry in the property. The police later arrested a suspect who matched the description of the neighbors, two streets away. His clothes were taken for further analysis in the laboratory. This is because clothes might have had contact with the broken glass and damaged paint; hence some of them might have been left on the clothes. The control samples from the broken glass and damaged paint were taken for analysis. The aims of this experiment included to investigate whether the debris recovered from Mark’s clothes had any fragments of glass and paint from the damaged property. The experiment was also meant to determine any kind of relationship between the recovered materials/fragments from the suspect’s clothes with the control samples collected; broken glass of the back door and the damaged paint of the VW sunroof. The final aim of the experiment was to discover any evidence that showed or qualified Mark Jones and the perpetrator of the crime in question. 1. Preparation work: Several petri dishes had been provided that contained the debris from the suspect’s clothes. The contents were observed and described, while the observations were recorded on the results sheet. The identity of each of them was also suggested. Low power microscopy was used to view the contents, while much attention was paid to any presence of glass and paint. The observations were also recorded, and the magnification used. 2. Physical Examination of Evidence: The suspect items were collected carefully, and a physical examination was done as the observations were recorded on the results sheet.

Planning care Essay Example | Topics and Well Written Essays - 1750 words

Planning care - Essay Example Various nursing care plans can be applied in the health care of a patient but selection on which plan to use can be best stated according to the type of medical conditions of the patient or type of health care conditions requested for. Patient’s introduction Mrs. Mary johns is 72 years old woman admitted at the health care facility after suffering a stroke at her home. She lives with her 45 years old daughter. The patient brought in by the daughter after resuscitation after suffering a minor stroke. The daughter being the only member of the family and has to work long hour shifts to support her mother fears for life and well being of the mother. This prompted her to check in the mother at the facility for more investigations and better care as she recovers as opposed to staying at home alone as the daughter goes to work. Apart from the daughter signing her mother in at the facility, the mother is fully responsive, and she also mutually agreed to be brought into care it the fac ility. The condition and agreement is to investigate the sole cause of the minor stroke and nurture her back to her normal health condition prior to the stroke (Taylor and Lillis, 2001). Orem self care model This is a self care deficit theory proposed by Orem in self care providence, and it is a combination of the theory of self care, self care deficit, and nursing systems. In the theory, of self care it details self care as the activities carried out by an individual to maintain their self health condition. While self care agency refers to the acquired to perform an individual’s self care self care activities and highly determined by various basic conditions such as the individual’s family system, age and health care system among others (George, 2000). The third Orem’s theory of self care is the therapeutic, self care demand. This is the totality of all the self care measures required for such an individual. The carrying out of self care is to ensure the fulfil lment of the self care requisites of which there are three main types of self care requisites such as developmental, universal and deviation self care requisites. Through a full assessment, of the patient by the health care giver the deficit identified. Upon this identification, of the deficit or need, the nurse then selects the most appropriate nursing systems to provide care. These are partly compensatory, wholly compensatory, or educative and supportive systems. The health care given to the individual in accordance to the total degree of deficit or want the patient is showing of and once the health care provided the total nursing activities and the use of nursing systems for the case are to be evaluated to allow am assessment of whether the mutually planned objective met or not. Care planning A nursing care process described as being cyclical made up of various interconnecting elements and having a dynamic nature. It has been for long been an accepted feature of nursing care plan ning used in conjunction with selected nursing models. It facilitates evidence based care nursing, consistency and enables the application of correct and updated health care providence care documentation. The care planning nursing process consists of four supremely distinct phases. Each phase holds a vital role in the health care planning strategy while still being independent on functioning

Religious reform in the Age of Enlightenment Essay

Religious reform in the Age of Enlightenment - Essay Example the religious reform in the Age of Enlightenment then becomes an interesting topic, considering the fact that religion is fundamentally based on faith and traditions, yet the Age of Enlightenment was introducing reason, thus creating a fundamental conflict that would see religion change. Thus, despite the fact that religion does not auger well with reason and rationality; with rationality conflicting the provisions of the religious doctrine most of the time, then it will be interesting to see how reason and faith played to transform religion during this period. Therefore, the conflict between faith in religion and reason becomes the major reason why this topic has been selected. Concepts that will be used in your analysis of the text Secularism: This concept will be used to represent the non-religious culture of faithless action that is not based on any doctrines of religion or any sacred scripture, but solely dependent on the human reason, desire, and freedoms (Shapin, 47). Alternative Religion: This concept will feature in the analysis of the text, to represent other different options that emerged during the age of enlightenment, to replace the tradition of blind faith with reason as well as the freedom to act against the traditional religion and sacred traditions and doctrines (Ingram, 36). Religious reform: This is a concept that will be applied to represent the actual process of transitioning from the traditional religious ways and customs to the new culture of secularism and rationality in faith doctrines.

International Markets Essay Example for Free

International Markets Essay Once SAB Miller has decided to establish itself in the global market, it becomes necessary for the marketing manager to study and analyze the various options available to enter the international markets and select the most suitable one. The selection of the entry mode is one of the most significant decisions.SAB Miller takes in the process of internationalization, as it involves commitment of resources with long-term financial and structural implications. Mode of entry may be defined as an institutional mechanism by which a firm makes its products or services available to consumer in international markets. Root (1994) defines the market entry for international markets as a comprehensive plan which sets forth the objectives,goals,resources,and policies that guide a company’s international business operations over a future period long enough to achieve sustainable growth in world markets. FACTORS AFFECTING THE SELECTION OF ENTRY MODE EXTERNAL MODES MARKET SIZE:Market size is one of the key factors an international marketer has to develop to keep in mind when selecting an entry strategy.Countries with a large market size justify the modes of entry with investment,such as wholly owned subsiaries or equity participation. MARKET GROWTH:Most of the large,established markets,such US,Europe and Japan,have more or less reached a point of saturation for consumer goods such as automobiles,consumer electronics.Therefore,the growth of markets in these countries is showing a declining trend.For instance,the overall growth in most of the US and European market is about 7% while emerging markets like India and China is over 30% which indicates tremendous market potential in time to come. Therefore,from the perspective of long-term growth potential such as China,India,Thailand,Indonesia etc.These markets are also termed emerging markets. GOVERNMENT REGULATIONS:The selection of market entry modes to a great extent affected by the legislative framework of the overseas market,the government of most of the Gulf countries have made it mandatory for foreign firms to have local partner.For instance,the UAE is a lucrative market for Indian firms but most firms operate there with a local partner. Trade barriers such as ecological regulations and local content requirements also affect the mode of entry.It has been a major reason for  increased foreign investment in Mexico,which is a part of the North American Free Agreement(NAFTA),in order to cater to the US market. LEVEL OF COMPETITION:Presence of competitors and their level of involvement in an overseas market is another crucial factor in deciding on an entry mode so as to effectively respond to competitive market force.This is one of the major reasons behind auto companies setting up their operations in India and other emerging markets so as to effectively respond to global competition. INTERNAL MODES COMPANY OBJECTIVES:Companies operating in domestic markets with limited aspirations generally enter foreign markets as a result of a reactive approach to international marketing oppurtunities.In such cases,companies receive unsoliated orders from acquaintances,firms and relatives based abroad,and they attempt to fulfil these export orders.This casual approach to entering international markets by way of producing in the homemarket and exporting overseas translates into regular exporting if the firm has positive experience in its exports operation. AVAILABILTY OF COMPANY RESOURCES:Venturing into international markts needs substantial commitment of financial and human resources and therefore choice of an entry mode depends upon the financial strength of a firm.It may be observed that Indian firms with good financial strength have entered international markets by way of wholly owned subsidiaries or equity participation. LEVEL OF COMMITMENT:In view of the market potential,the willingness of the company to commit resources in a particular market also determines the entry mode choice.Companies need to evaluate various investment alternatives in a particular market also depends upon the way the company is willing to perceive and respond to competitive forces. INTERNATIONAL EXPERIENCE:A company well exposed to the dynamics of the international marketing environment would be at ease when making a decision regarding entering into international markets with a highly intensive mode of entry such as joint venture and wholly owned subsidiaries. Below are different modes of market entry and they include: EXPORTING Exporting is the simplest method of entering a foreign market.It is the  process of sending goods or services from country to other countries for use or sale there. By exporting to a foreign country,a company is able to enter this country without actually establishing itself in the country.The company must simply manufacture products that can be shipped to the foreign country.Export activities may take several forms,including indirect exporting,direct exporting,and intracorporate transfers. Direct exports represent the most basic mode of exporting, capitalizing on economies of scale in production concentrated in the home country and affording better control over distribution. Direct export works the best if the volumes are small. Types of direct exporting are: Sales representatives that represent foreign suppliers/manufacturers in their local markets for an established commission on sales. Provide support services to a manufacturer regarding local advertising, local sales presentations, customs clearance formalities, legal requirements. Importing distributors purchase product in their own right and resell it in their local markets to wholesalers, retailers, or both. Indirect Exporting Indirect export is the process of exporting through domestically based export intermediaries. Indirect methods of exporting requires less marketing investment, but, as the exporter has no control over its products in the foreign market, the company lose substantial control over the marketing process. Types or methods of indirect exporting are: Filling orders from domestic buyers who then export the product Seeking out domestic buyers who represent foreign customers Exporting through an Export Management Company (EMC) Exporting through an Export Trading Company (ETC) INTRACORPORATE TRANSFERS A third form of export activity is the intracorporate transfer,which has become more important as the sizes of MNCs have increased.An intracorporate transfer is the sale of goods by a firm in one country to an affiliated firm in another. LICENCING License is a contract to identify what is being licensed: trademarks, patents, designs, copyrights or software. Licensing allows rapidly entering into the chosen foreign market and reduces capital requirements to establish manufacturing facilities overseas. Your contract does not violation of the host countrys existing laws and regulations.a licensor in the home country makes limited rights or resources available to the licensee in the host country. The rights or resources may include patents, trademarks, managerial skills, technology, and others that can make it possible for the licensee to manufacture and sell in the host country a similar product to the one the licensor has already been producing and selling in the home country without requiring the licensor to open a new operation overseas. The licensor earnings usually take forms of one time payments, technical fees and royalty payments usually calculated as a percentage of sales. As in this mode of entry the transference of knowledge between the parental company and the licensee is strongly present, the decision of making an international license agreement depend on the respect the host government show for intellectual property and on the ability of the licensor to choose the right partners and avoid them to compete in each other market. Licensing is a relatively flexible work agreement that can be customized to fit the needs and interests of both, licensor and licensee. Franchising The franchising system can be defined as: â€Å"A system in which semi-independent business owners (franchisees) pay fees and royalties to a parent company (franchiser) in return for the right to become identified with its trademark, to sell its products or services, and often to use its business format and system. Compared to licensing, franchising agreements tends to be longer and the franchisor offers a broader package of rights and resources which usually includes: equipment, managerial systems, operation manual, initial trainings, site approval and all the support necessary for the franchisee to run its business in the same way it is done by the franchisor. In addition to that, while a licensing agreement involves things such as intellectual property, trade secrets and others while in franchising it is limited to trademarks and operating know-how of the business. TYPES OF FRANCHISES There are three available types of franchises.The first type is the dealership,a form commonly found in the automobile industry.Here,the manufacturers use franchises to distribute their product lines.These dealership act as the retail stores for the manufacturer.In some distance,they are required to meet quotas established by the manufacturers,but as is the case for any franchise,they benefit from advertising and management support provided by the franchisor.The most common type of franchise is the type that offers a name,image and method of doing business,such as McDonald’s,KFC,Holiday Inn. There are many of these types of franchises,and their listings,with pertinent information can be found in various sources. A third type of franchise offers services.These include personnel agencies,income tax preparation companies and real estate agencies.These franchises have established names and reputation and methods of doing business.In some distances,such as real estate,the franchisee has actually been operating a business and then applies to become a member of the franchise. CONTRACT MANUFACTURING Contract manufacturing refers to a situation where a business will engage the services of an independent party to perform a specified duty for the business. In terms of manufacturing, contract manufacturing refers to a situation where a manufacturer will engage the services of an independent party to perform a specified job. There are various reasons for this type of engagement by manufacturers, all of which involve the maximization of profit. The process of contract manufacturing also has some negative considerations that include the risk of uncertainty and lack of control over the process. WHOLLY OWNED SUBSIDIRIES Entering a foreign market with a wholly owned subsidiary involves creating a local firm without the aid of a local partner. There are two ways of doing this. The first is through what is called greenfield development. This involves creating a new organization in the foreign country from the ground up. The second method is what is referred to as brownfield development. This involves purchasing an existing company in a foreign country. Brownfield developments can be beneficial because they offer local expertise, but they can be difficult because there may be resistance from those in the company  to new ownership. JOINT VENTURE A market entry option which the exporter and a domestic company in the target country join together to form a new incorporated company. Both parties provide equity and resources to the JV and share in the management, profits and losses. The JV be limited to the life of a particular project. This option is popular in countries where there are restrictions on foreign ownership, eg. China and Vietnam PIGGYBACKING Piggyback marketing – low cost market entry strategy in which two or more firms represent one another’s complementary (but non-competing) products in their respective market. Or, in other words, it is an arrangement, where two or more companies help each other to market their products, where the products have to be complementary and not competing against each other. LEVEL OF INVOLVEMENT IN INTERNATIONAL MARKETS No direct foreign marketing: A company in this stage does not actively cultivate customers outside national boundaries; however this company’s products may reach foreign markets. Sales may be made to trading companies as well as foreign customers who come directly to the firm. Or products may reach foreign markets via domestic wholesalers or distributors who sell abroad without explicit encouragement or even knowledge of the producer. As companies develop web sites on the internet, many receive orders from international Web surfers. Often an unsolicited order from a foreign is what piques the interest of a company to seek additional international sales. Infrequent Foreign marketing: Temporary surpluses caused by variations in production levels or demand may result in infrequent marketing overseas. The surpluses are characterized by their temporary nature; therefore sales to foreign markets are made as goods are available, with little or no intention of maintaining continuous market representation. As domestic demand increases and absorbs surpluses, foreign sales activity is withdrawn. In this stage, little or no change is seen in company organization or product lines. However, few companies today fit this  model because customers around the world increasingly seek long term commercial relationships. Further, evidence exists that financial returns from initial international expansions are limited. Regular Foreign marketing: At this level, the firm has permanent productive capacity devoted to the production of goods to be marketed in foreign markets. A firm may employ foreign or domestic overseas intermediaries or it may have its own sales force or sales subsidiaries in important markets. The primary focus of operations and production is to service domestic market needs. However, as overseas demand grows, production is allocated for foreign markets, and products may be adapted to meet the needs of individual foreign markets. Profit expectations from foreign markets move from being seen as a bonus to regular domestic profits to a position in which the company becomes dependent on foreign sales and profits to meet its goals. International marketing International marketing is the export, franchising, joint venture or full direct entry of a marketing organization into another country. This can be achieved by exporting a companys product into another location, entry through a joint venture with another firm in the target country, or foreign direct investment into the target country. The development of the marketing mix for that country is then required international marketing. It can be as straightforward as using existing marketing strategies, mix and tools for export on the one side, to a highly complex relationship strategy including localization, local product offerings, pricing, production and distribution with customized promotions, offers, website, social media and leadership. Internationalization and international marketing meets the needs of selected foreign countries where a companys value can be exported and there is inter-firm and firm learning, optimization and efficiency in economies of scale and scope. The firm doe s not need to export or enter all world markets to be considered an international marketer. Global Marketing Global marketing is a firms ability to market to almost all countries on the planet. With extensive reach, the need for a firms product or services is  established. The global firm retains the capability, reach, knowledge, staff, skills, insights, and expertise to deliver value to customers worldwide. The firm understands the requirement to service customers locally with global standard solutions or products, and localizes that product as required to maintain an optimal balance of cost, efficiency, customization and localization in a control-customization continuum to best meet local, national and global requirements to position itself against or with competitors, partners, alliances, substitutes and defend against new global and local market entrants per country, region or city. The firm will price its products appropriately worldwide, nationally and locally, and promote, deliver access and information to its customers in the most cost-effective way. The firm also needs to underst and, research, measure and develop loyalty for its brand and global brand equity (stay on brand) for the long term. b)OULINE ADVANTAGES AND DISAVANTAGES OF EACH STRATEGY. Advantages of direct exporting: -Control over selection of foreign markets and choice of foreign representative companies. -Good information feedback from target market. -Better protection of trademarks, patents, goodwill, and other intangible property. Potentially greater sales than with indirect exporting. Disadvantages of direct exporting: Higher start-up costs and higher risks as opposed to indirect exporting; Greater information requirements; Longer time-to-market as opposed to indirect exporting. Advantages of the international franchising mode: -Low political risk -Low cost -Allows simultaneous expansion into different regions of the world -Well selected partners bring financial investment as well as managerial capabilities to the operation. Advantages of indirect exporting -Its an almost risk-free way to begin. -It demands minimal involvement in the export process. -It allows you to continue to concentrate on your domestic business. -You  have limited liability for product marketing problems theres always someone else to point the finger at! -You learn as you go about international marketing. -Depending on the type of intermediary with which you are dealing, you dont have to concern yourself with shipment and other logistics. Disadvantages of indirect exporting: -Your profits are lower. -You lose control over your foreign sales. -You very rarely know who your customers are, and thus lose the opportunity to tailor your offerings to their evolving needs. -When you visit, you are a step removed from the actual transaction. You feel out of the loop. -The intermediary might also be offering products similar to yours, including directly competitive products, to the same customers instead of providing exclusive representation. -Your long-term outlook and goals for your export program can change rapidly, and if youve put your product in someone elses hands, its hard to redirect your efforts accordingly. Advantages of licensing -Obtain extra income for technical know-how and services -Reach new markets not accessible by export from existing facilities -Quickly expand without much risk and large capital investment -Pave the way for future investments in the market -Retain established markets closed by trade restrictions -Political risk is minimized as the licensee is usually 100% locally owned -Is highly attractive for companies that are new in international business. Disadvantages of licensing -Lower income than in other entry modes -Loss of control of the licensee manufacture and marketing operations and practices leading to loss of quality -Risk of having the trademark and reputation ruined by an incompetent partner -The foreign partner can also become a competitor by selling its production in places where the parental company is already in. -investment to attract prospects and support and manage franchisees. Advanatges of Frachising -Franchising provide knowledge of the local markets. A franchise provides franchisees with a certain level of independence where they can operate their business. A franchise provides an established product or service which may already enjoy widespread brand-name recognition. This gives the franchisee the benefits of a pre-sold customer base which would ordinarily takes years to establish. A franchise increases your chances of business success because you are associating with proven products and methods. Franchises may offer consumers the attraction of a certain level of quality and consistency because it is mandated by the franchise agreement. Disadvantages of franchising: -Franchisees may turn into future competitors. -Demand of franchisees may be scarce when starting to franchise a company, which can lead to making agreements with the wrong candidates -A wrong franchisee may ruin the company’s name and reputation in the market -Dependence on franchisee. -Potential conflicts with franchisee. Advantages of Joint Venture: -Accessing additional financial resources Asset sharing is one of the best advantages about joint venture. Since, you are able to use larger funds to facilitate the production and operation of projects and products, you facilitate growth. In other words, you increase profit margin and increase your revenue potential. -Sharing the economic risk with co-venturer It pays to have someone sharing the responsibility with you in case you end up in deep troubles. This is also true with joint venture. Since you are sharing assets, the risk of losing a great deal of money is divided to both parties. -Widening economic scope fast – Building reputation is often difficult, not to mention time consuming and expansive. At a joint venture, you are able to widen your economic scope without spending too much money and waiting for a long time. Tapping newer methods, technology, and approach you do not have – In order to grow and expand, you need resources in the forms of methods, technology, and approach. For that matter, it would help a lot if you will be able to partner with an entity that presently has the things you don’t and the things you need. Joint venture opens up the venue for such need. -Building relationship with vital contacts – Aside from economic territory, another advantage of joint venture is the ability to give you business relationships with vital contacts. This is just like automatically befriending your partners influential friend that can give you access to lots of things such as business opportunities and a pass to vital information. Disadvantages of Joint Venture: -Shared profit – Since you share assets, you also share the profit. The profit of both parties usually depends on the size of the share to the venture or may be defined on the agreement. -Diminished control over some important matters Operational control and decision making are sometimes compromised in joint ventures. Since there is an agreement that divides which one will take over a particular operation, the other may not be satisfied with how the things are worked out with another. This leads us to another disadvantage of a joint venture. -Undesired outcome of the quality of the product or project – Since one party may not have control on the supervision of the production or the execution of one part of the system, this can happen. This often leads to disputes and lawsuits. To avoid this, both parties agree on specific details about the whole operation process. -Uncontrolled or unmonitored increase in the operating cost – Again, defined control over the operation may lead to this disadvantage. It is important therefore to make sure that all things are clarified on the paper before singing in the joint venture agreement. Advantages of contract manufacturing -Low financial risks contract manufacturing allows companies to save costs by manufacturing a particular item at a cheaper rate than what it would cost them If they decided to undertake the manufacturing process themselves. it allows the company doing the outsourcing to shave some time off the whole process, giving them quicker returns and turnovers. Where a company is less effective than another in manufacturing an item, contract manufacturing will allow it to concentrate on that in which it is the most efficient. Disadvantages of contract manufacturing -Reduced learning potential -Potential public relations problems may need to monitor working conditions. -The company doing the outsourcing faces some degree of risk if it fails to do its research properly. This is because outsourcing the manufacturing to the wrong company could end up costing the company more, rather than less, if the outsourced company fails to deliver as expected. Advantages of wholly owned subsidiaries On the positive side, a wholly-owned subsidiary that does its business in a location different from the parent companys is able to remain in its locale. With the business world spanning so many countries, this can serve as a great advantage in international situations. Name recognition is another positive reason for maintaining a wholly-owned subsidiary. If a particular brand name is well known and popular, the parent company has no reason to absorb the subsidiary entirely. Wholly-owned status allows the subsidiary to retain its name brand, thus avoiding hindering its sales. Diversity for the parent company is another perk created by maintaining a wholly-owned subsidiary. This status allows the parent company to branch out into different products and markets, building strength in diversification. Disadvantages of wholly owned subsidiaries a wholly-owned subsidiary are more business oriented. The holding company runs a definite risk in assuming control of another company while allowing its management to continue to operate independently of the parent companys. The level of investment and allocation of funds and resources required is also very high. A parent company must spend a great deal of time and money to smoothly integrate the new subsidiary.All of these factors require commitment and dedication on the part of the holding company and willingness to form that partnership on the part of the subsidiary. Advantages of piggybacking reduced financial costs limited risk quick, easy access to the market. Generally, the supported company can make immediate profits on the new market. The SME can, thus save time (3-5 years), compared to the normal length of time necessary to establish itself ; reduced logistical and administrative operations ; benefit of the brand image that the supporting company brings to its products ; immediate availability of a sales force structure ; excellent market knowledge of the supporting company. Disadvantages of piggybacking weak motivation of large companies to become supporters ; difficulty in finding partners offering a compatible product and distribution network ; risk of market loss, which can be reduced due to the complementarity of the product, and commercial follow-up between the partners ; occasional difficult relations because of differences in size or culture ; risk of lack of mutual confidence and of lack of involvement ; risk of conflict of interest (e.g. local agents could systematically put the interests of the supporting company before those of the supported company) ; occasional very rigid requirements and conditions of access to the commercial networks of large companies. These conditions can be qualitative (e.g.: product quality) and quantitative (minimum level of annual turnover, high commissions, etc.). Macro Environmental Influences That Can Affect SAB Millers SABMillers origins date back to the foundation of Castle Breweries in 1895 as to serve a growing market of miners and prospectors in and around Johannesburg, South Africa. Two years later, it became the first industrial company to list on the Johannesburg Stock Exchange and the year after (1898) it listed on the London Stock Exchange. From the early 1990s onwards, the company increasingly expanded internationally, making several acquisitions in both emerging and developed markets. In 1999, it formed a new UK-based holding company, SAB plc, and moved its primary listing to London. In May 2002, SAB plc acquired Miller Brewing, forming SABMiller plc. It is very important that SAB Miller considers its environment before going into international the market. In fact, environmental analysis should be continuous and feed all aspects of their planning to go international The macro-environment refers to the major external and uncontrollable factors that influence an organizations decision making, and affect its performance and strategies. These factors include the Political (and legal) forces, Economic forces, Sociocultural forces, and Technological forces. These are known as the PEST factors. PEST Analysis Political Factors: The political environment revolves around the current government in a particular country in which SAB Miller manufactures or trades, and also laws/legislation operate or within their home market as well as overseas. If their government is socialist then perhaps there is a policy to tax more and to invest in the public sector. On the other hand if SAB Millers have a more conservative or Republican government then the free-market is left to take control, taxation is less and there is often a smaller public sector. The political arena has a huge influence upon the regulation of the business, and the spending power of consumers and other businesses. SAB Miller must consider issues like: †¢How stable is the political environment in that country? †¢Will government policy of that country influence laws that regulate or tax SAB Miller? †¢What is the governments position on marketing ethics? †¢What is the governments policy on the economy? †¢Does the government have a view on culture and religion? †¢Is the government involved in trading agreements such as EU, NAFTA, ASEAN, or others? Economic Factors The economic environment is a direct influence on all businesses. Obviously if you are studying marketing there is a huge element of economics within the topic itself, and you should be no stranger to the principles of economics. As we saw from our lesson on the marketing environment there is a macro environment, and internal environment and the microenvironment. More specifically youll be at looking elements such as where a business is in terms of the current business cycle, and whether or not they are trading in a recession. SAB Millers marketers need to consider the state of a trading economy in the short and long-terms. This is especially true when planning for international marketing. You need to look at: 1. Interest rates. 2. The level of inflation Employment level per capita. 3. Long-term prospects for the economy Gross Domestic Product (GDP) per capita, and so on. Sociocultural Factors The Sociocultural environment embodies everything which is social and cultural within a nation or society. There are plenty of examples of society and culture on the marketing teacher website, so we recommend that you go to our lesson store and look through some of the consumer behaviour pages. Some notable examples would include the influence of learning, memory, emotion and perception, motivation, lifestyle and attitude and consumer culture. Have a look at the six living generations in America, social environment and class, the impact of your birth order on how you behave as a consumer and take a look at the eight types of online shoppers. In a more general sense consider influences such as the increase in life expectation of Western consumers, and demographics which is the study of populations. The social and cultural influences on business vary from country to country. It is very important that such factors are considered. Factors include: 1. What is the dominant religion? 2. What are attitudes to foreign products and services? 3. Does language impact upon the diffusion of products onto markets? 4. How much time do consumers have for leisure? 5. What are the roles of men and women within society? 6. How long are the population living? Are the older generations wealthy? 7. Do the population have a strong/weak opinion on green issues? Technological Factors Technological factors are a multifaceted influencer. Lets just think about the sorts of technology that you come in touch with almost daily. Smart phones such as Android and iphone are now common – all – garden, and we are used to being able to access information and communication technology instantly no matter where we are. During studies or at work we have access to information on quick PCs and over the Internet, with faster broadband connections arriving in many parts of the world. Technology also surrounds business processes. As we saw from our lesson on the functions within an organisation all departments use information technology or technology in one form or another. Our manufacturing operations will use technology to produce goods and services. Our logistics and warehousing functions use forklifts and Lorries as well as order tracking technology and software. The customer service department will use communication technology to talk to customers but will also have access to internal systems, such as technology to simplify credit control and stock control for example. There are many, many more examples of technology. Technology is vital for competitive advantage, and is a major driver of globalization. Consider the following points: 1. Does technology allow for products and services to be made more cheaply and to a better standard of quality? 2. Do the technologies offer consumers and businesses more innovative products and services such as Internet banking, new generation mobile telephones, etc? 3. How is distribution changed by new technologies e.g. books via the Internet, flight tickets, auctions, etc? 4. Does technology offer companies a new way to communicate with consumers e.g. banners, Customer Relationship Management (CRM), etc?

Gothic Culture: History, Culture and Art

Gothic Culture: History, Culture and Art To find the influence of Gothic culture was been easy for popular culture. However, to give a clear definition for Gothic culture was been difficult because different connotations and quality of uncertainty was had in the term of Gothic in different social-cultural group. For examples, industrial or classical music, Goths like that, but it was not gothic. For another examples vampires and interest in death, were gothic, in spit that many Goths disliked. Such as bands like Marilyn Manson and Nine Inch Nails, were thought of as gothic by some people, but they were not gothic. And such bands like Sisters of Mercy and Dead Can Dance, did not call themselves gothic even if they were considered gothic by most people. It was an ambiguous label with many people using it that didnt understand the meaning. The people who did understand it often had many different definitions. The background of gothic culture The term Gothic was used to symbolize forms of art of the Middle-Ages. The Middle-Ages was referred to the period between the Classical era and the Renaissance. For the Italians hated that the Goth destroyed the Roman Empire at that time, it meant barbaric and boorish that they called the period as Gothic. Around at 1800, the culture of the Middle-Ages and its related things gradually became a kind of fashion in some peoples eyes in the Romantic Movement. The romanticism was the center of this cultural movement. The romanticist was willing to jump up from the limit of history. Some wished they had returned the Middle-Ages, some looked for the ideal from the religion or the mysticism, and some tried to find the answer in the nature. In the whole Romantic Movement, Goth began to be considered it as related to dark, exotic, ghosts. For example, the romantic and gothic writers such as Byron, Shelley, Baudelaire, as well as Verlaine were engrossed in the expression of the dark side of human beings. At this period, many gothic novelists were constantly emerging. Gothic literature was a challenge to the orthodox thought pattern in the current temporal society. Gothic sentiment had a very clear manifestation in the visual arts. The dark and the desolation were drawn by the painter such as Caspar David Friedrich. The Gothic style in the realm of architecture had been becoming fashionable. In the80s of 20th century, modern Gothic movement started in the UK. The emergence of the Gothic movement might be considered as the continuity of punk movement. The people were shown the influence of Gothic spirit in musical field. It was known that The Gothic music took human gloomy and empty as the theme. Moreover, death was focus on as an intense interest. Slowness, sadness, and even terror, were the characteristics of the music. The History of Gothic culture Generally speaking, the origin of gothic movement was considered as Bauhaus released the song Bela Lugosis Dead in 1979. The first generation of the movement emerged in the UK, which was a splinter from the punk movement. Bands, such as the Damned, Bauhaus, the Banshees and Siouxsie who were called so later were the first generation which didnt consider them as Gothic at that time. In the early 1980s, the gothic movement was flourished with bands like the Sisters of Mercy at the forefront. However, the movement was going off by the middle to late 1980s. In the late eighties and early nineties, a new and second generation of gothic bands grew to breathe new life into the scene. They regularly called themselves Gothic in contrast with the first. Examples would include The Shroud, Rosetta Stone, and London After Midnight. At the same time the US Goth movement turned up significantly. Gothic became recognized as a distinct subculture. Gothic music and culture grew and branched out into various subsets. The boundaries of gothic what had previously been considered were expanded. It was apparent that widespread mainstream was interested in the gothic subculture in recent time. The behavior was many quirks of gothic culture have filtered into mainstream culture, such as an interest in the supernatural and dark aesthetics. In the late 1990s a distinct third generation emerged to shape the future progression of the gothic movement. The third generation stood for an explosion in the number of people referring to themselves as gothic. Many people had learned about gothic culture because the present widespread commercial was available. Shock Rock (Marilyn Manson) became the spotlight onto this subculture. The term of Spooky kids was often used for these youths. The first and second generations of Goths looked suspiciously upon the new generation, who doubted their authenticity and disliked the exposure they gave to a subculture which would prefer to remain underground. It would be difficult to predict what the future held for the Gothic movement. Gothic culture and Gothic art As above exposition on this topic, it was indicated that to give a definition of Gothic culture was difficult. However, Gothic art given birth by Gothic culture included the following parts: the Gothic literature, the Gothic film, the Gothic music, the Gothic painting, the Gothic architecture, the Gothic fashion. Gothic literature Gothic fiction as a kind of Gothic literature would be introduced in this paper. It belonged to the English literature faction which generally considered come forth as the novel Ao Telang Fort map written by Horace Hua Er Boer. It was Ann Radcliffe (1764-1823) who established truly the standard style of Gothic fiction. Her novel The Mysteries of Udolpho was published in 1794. The Casles of Athlin and Dunbayne was published in 1789. The Romance of the Forest was published in 1791. The Italian was published in 1797. Frankenstein was written by Mary Shelley, the wife of England poet Shelley, in 1818, which was considered as the first true sense of science fiction in the world. However, Gothic fiction had waned in U.K. of 1840. It was because that too many cheap writers created cheap horror fictions and over-exposure of sexual description. The works of violence came out to greatly reduce the status of the Gothic fiction. In spite that Gothic fiction had a deep effect on the literature of Victorian era, it set off a wave of short ghost stories at that period. Moreover, it brought into being Allen Poes story with the theme of death. It was called back after the rush of Victorian ghost story. It was in 1880 when the Gothic-style novel was revitalized as a kind of semi-orthodox literature. Stevenson and Wilder were the writers in this period. The most popular villain of Goth was birth in the fiction Dracula written by Bram Stoker. The character often came out in the Gothic film later. Gothic film The first influential gothic film was Haxan directed by a Swede Benjamin Christensen in 1921. After a year, Germany director Murnau shot a film Nosferatu which became the first landmark of the Gothic Film in the history of mankind. American director Browning took the story about Vampire Count Dracula on the big screen in accordance with Stokes Original novel in 1931. This film is Vampires Breakfast that is the first Gothic talkie. French director Georges Franju shot a film Eyes without a Face which is the first classical Gothic film without Vampire image. It is worth mentioning that the Hollywood Desire directed by Tony Scott in 1983 of the whole 80s. Gothic film was truly ushered in a golden period of development until the 90s of last century. The U. S. director Tim Burton shot a film Edward Scissorhands in 1990. The film Sleepy Hollow was released in 1999. The Hollywood director Coppola shot a film Dracula. And other films such as Interview with the Vampire shot by Irish director Neil Jordan, the Crow shot by U.S. director Provas, and Dellamorte directed by Italian Michele Soavi were worth watching. A surprising film Brotherhood of The Wolf was shown to the gothic fans all over world by Franch director Gans in 2001. Two years later, another surprising was 3D animation Kaena. At the same time, the topic of Gothic film was more and more extensive instead of the solo theme of epic. Gothic film started to move closer to the traditional type of film, and gradually blend of the characteristics of other traditional types. It made the audience accept them easier. The three American films as Queen of the Damned, Underworld in 2003, and Van Helsing directed by Stephen Sommers in 2004 were the representatives. Gothic music It was usually considered that Gothic music is gloomy, icy, and decadent, making an atmosphere with terror. The people were gotten to feel oppressive and hopeless. Full with artistic spirit, the willing to death and black color was often expressed. Its mood was full of being tired of the world. It listened like bone-chilly, with a fine sense of beauty. At the same time, lots of inconsistent tone were deviated from the melody line and were inserted at the range level. Extreme contempt for all the traditional music was shown. In the lyrics and at the performance level, a desolate life and erotic was expressed by the singer. The state of reality was disgusted, and the executed fun of spiritual abyss was pursued. Nowadays so called Gothic music exactly refers to Goth Rock. This music genre was brought out in the 80s of the 20th century. It had no relation to the original meaning of the term Goth. It was so called Goth just because the elements of horror and darkness were borrowed from Gothic fictions of the 18th or 19th century. The origin of Gothic Rock was affected by two parties. One was post-punk movement at the end of 70s. The other was Gothic fiction of the 18th or 19th century. The inclination of restoring ancient ways was demonstrated clearly in Gothic music that was applied by opera voice. There were some famous Gothic bands such as Autumn Tear, Bauhaus, Christian Death, Dead Can Dance, Death In June, Nick Cave The Bad Seeds, The Cure, Fields of the Nephilim, The Sister Of Mercy, and The Swans. Gothic Painting Font The zenith of Gothic painting was between the 14th and the 15th century. In the end period of the 20th century, a very big effect had been put in the field of painting by the development of computer technology. To draw by computer board was tried by many painters. Gothic painting was driven into a new realm. For example, Linda Bergkvist, born in Sweden, made a lot of Gothic-genre CG cuts. Gothic Fonts had many different styles with classic and luxuriance. An example was the title of the cover of Death Note. Gothic Architecture Gothic architecture was a kind of architectural style, prosperous in the Middle-Ages. It was evolved from Romanesque architecture, and inherited by the Renaissance. It was originated in France in the twelfth century. It was continued until the sixteenth century. Acuminate arches, ribbed vaults and flying buttresses were included in the features. Most of all were seen in the Catholic Church, as well as the secular buildings. An important position was occupies by Gothic architecture with its high degree of technical and artistic achievements in history of the construction. The most famous Gothic architectures were such as Assumption Cathedral of Russia, Duomo del Mialno of Italy, the Cathedral of Cologne of Germany, Westminster Abbey of England, Notre Dame Cathedral of France were. Duomo Del Mialno of Italy was the biggest one in the world. Gothic Fashion The sublime related to fear was considered the foundation of Gothic aesthetics. The well-known England Esthetician Edmund Burk divided calli- beau into the beautiful and the sublime. When he discussed the sublime, he had already talked about the strongest emotion of mankind is fear. And he linked the sublime with the fear. In the eighties, the Gothic style clothing was evolved from Gothic music. Black-dyed long hair, pale skin, tight black cloth, pointed boots and a large number of silver, mostly used by religious design of early Europe and Egypt . However, these clothing was not accepted by mainstream fashion designers at the time because of its somewhat negative, aggressive and brutal style with the distribution of revolt spirit. Until nowadays, Gothic clothing style was popular again. Then clothing is not only limited to order superfine cloth by small workshops. It was started to pay attention by the designer of some great dress brands, such as Kenzo, Anna Sui, Issey Miyake and so on. The Reason for Goth Become a Popular Culture from Subculture According to the analysis of Goth cultures history, I think there are some reasons for Goth become a popular culture from the original subculture. Firstly of all, the rich spiritual connotation of Gothic culture was the basis for keeping its sustained vitality. Secondly, a more easily accessible channel was supplied to ordinary people by the popularity of mass media, especially the advances in computer technology. Thirdly, the business value behind the culture was cared by some big commercial companies, such as film studio, record company, clothing company with a great brand. It was invested. The consumption goods of this style were made for market sale. That pushed the development of Goth from subculture into popular culture. Fourthly, the buying ability of young people, with a strong ability to accept popular culture, was obviously enhanced, with the development of the world economy. The promotion of the Goth culture was speeded up.

Body Mutilation and Adornment :: essays research papers

Body Mutilation and Adornment There are various aspects through which people, especially youth, identify themselves. People are always sending some sort of communication out at all times, whether it is subconscious or not. Images and styles are adopted which communicate meanings about the individual to his/her peers and to society. Styles of dress, language, music, and dance are some of the ways that portray one's own unique symbols, values, and meanings. One other such signifier of identity is through body modification, particularly tattooing and body piercing. In today's society people have adopted the new style or trend of body modification. There are many reasons in which people obtain piercings and tattoos. Those who modify, manipulate and mutilate their bodies do so for many reasons. Some say it's simply exciting and pleasurable, or part of the latest fad. Others place it in the context of art, ritual or self-expression-they say it's an act with cultural and social significance. In contrast, many people can 't understand why someone would choose to put so many holes in her body or cut their skin. They see body modification as self-destructive, much like anorexia or bulimia. I am a prime example of youth urge toward body modification. Below I will talk about why, what, where, and how people modify their body and how people look upon them. Youth and adolescence is one of, if not the most, significant and influential moments in one's life, when youth are seeking their identity of who they are. Tattooing and piercing are one of the many ways through which youth may express their identity, for they are symbolic representations of how the self is conceived or understood. People may also want themselves to be portrayed as someone who they are not. For example, someone gets a tattoo or earrings just to look "tough" or "cool". I remember when I was young; I thought having an earring was the coolest thing and at the age of sixteen I couldn't take it anymore and pierced my ear against my parents will. Getting a piercing or tattoo symbolizes a certain change in ones life. These changes, no matter how miniscule they may seem, have a huge impact on a person's identity. Usually when a youth gets a tattoo or earring, they are symbolizing their maturity by finally being able to make a decision on their own and taking matters into the ir own hands.

The Business Model Essay -- Business Management Essays

The Business Model Michael Lewis (2000: pages 256-257) scoffed at the whole attempt to formalize the definition of business models when he wrote that â€Å" â€Å"Business Model† is one of those terms of art that were central to the Internet boom: it glorifies all manner of half baked plans. All it really meant was how you planned to make money.† In an abstract of his paper â€Å"A Mesoscopic Approach to Business Models: Nano Research on Management† published in â€Å"Economic Issues in China† Dr. Junyi Weng stated that â€Å"Business Model, a well known important and extensively used term by media, management consultancy and business top managers, is just in an embarrassment that there is no consensus about its definition and few papers in academic periodicals.† He designed and discusses his conception of business models based interfaces interacting in interior and exterior business environments. Peter Weill, Thomas W. Malone, Victoria T. D’Urso, George Herman and Stephanie Woerner of MIT in their paper â€Å"Do Some Business Models Perform Better than others?: A Study of the 1000 Largest US Firms† agree that the concept of business models is while widely discussed is seldom systematically discussed. The paper then proceeds to postulate a conceptual framework for comprehensively classifying business models. These consist of four basic types of business models (Creator, Landlord, Distributor and Broker), which are each broken down into four variants accordance with type of assets they deal in (physical, financial, intangible and human). Thus giving rise to 16 specialised business Model types.† Professor Michael Rappa like many others prefer to present a comprehensive and cogent taxonomy of basic categories as observed on the web as follows: Brokerage Advertising Infomediary Merchant Manufacturer (Direct) Affiliate Community Subscription Utility He however, does not believe that these are exhaustive and expects new and interesting variations in the future. KMLab Inc. offers an interesting definition: â€Å"a Business model is a description of how your company intends to create value in the market place. It includes that unique combination of products, services, image and distribution that your company carries forward. It also includes the underlying organization of people and the operational infrastructure that they use to accomplish their work. In some ways... ...rocesses such as inventory management etc. Maybelline a company founded in 1915 is one of the largest selling color cosmetics line in the United States. Its sells through outlets of almost every major mass-market retailer, such as supermarkets, drugstores, discount stores and cosmetics specialty stores. Its products are also available in over 70 countries worldwide. Maybelline uses a traditional model in its sales distribution network, which is the use of sales representatives to canvass for business and to arrange for sales. The use of sales representatives who are employees makes this a Business-to-Employee-to-Business interface model. In the 1990s the company a traditional â€Å"mortar† company re-invents itself a click and mortar company through the use of ICTs. However, one innovation to the sales representative concept is Maybelline’s use of its representatives as market intelligence reporters, who actually serve as the eyes of the company to monitor the progress of its products and the way they are handled by the retailers as well as progress of competitors’ products. This is the trading/sales structure of the company, which cannot be said to be a new business model.

Reversing Stroke and Spinal Cord Damage :: Biology Essays Research Papers

Reversing Stroke and Spinal Cord Damage Scientists are on the brink of doing the unthinkable-replenishing the brains of people who have suffered strokes or head injuries to make them whole again. If that is not astonishing enough, they think they may be able to reverse paralysis. The door is at last open to lifting the terrifying sentence these disorders still decree-loss of physical function, cognitive skills, memory, and personality. Until recently there was virtually nothing doctors could do for the 500,000 Americans who have strokes each year, the 500,000 to 750,000 who experience severe head injury, or the 10,000 people who are paralyzed after spinal cord damage (3). However, that is about to change. Researchers now think it may be possible to replace destroyed brain cells with new ones to give victims of stroke and brain injury a chance to relearn how to control their body, form new thinking processes, and regain emotions. After demolishing the long-standing myth that brain cells cannot regenerate or proliferate, scientists are developing ways to stimulate cells to do just that. Although stroke, head injury, and paralysis are three of the most devastating things that can happen to anyone, scientists have recently learned that the damage they cause is not preordained. It takes place over minutes, hours, and days, giving them a precious opportunity to develop treatments to halt much of the damage. Most of the n ew remedies are not yet available, but an explosion of research in the last five to ten years has convinced scientists that some of them will work (8). Guided by fabulous results in preventing permanent damage from stroke and other injuries to the central nervous system in rats and other animals, researchers around the world have launched scores of trials in humans (12). However, many promising new therapies are sitting on the shelf because of a lack of money and other resources necessary to conduct large, lengthy, and expensive studies to conclusively show that a new drug or treatment really works in people. The requirement for safety and efficacy can be frustrating, especially for badly needed treatments that are very promising, but such caution is necessary. One organization is trying to raise funds for a major study to test a pill for paralysis-4 amino pyridine (4 AP) -which has shown promising results in preliminary human trials (14). About half of the small number of people in the study, who had been paralyzed for four to fifteen years, regained some sensation and muscle function when they were given intravenous infusions of 4 AP. Reversing Stroke and Spinal Cord Damage :: Biology Essays Research Papers Reversing Stroke and Spinal Cord Damage Scientists are on the brink of doing the unthinkable-replenishing the brains of people who have suffered strokes or head injuries to make them whole again. If that is not astonishing enough, they think they may be able to reverse paralysis. The door is at last open to lifting the terrifying sentence these disorders still decree-loss of physical function, cognitive skills, memory, and personality. Until recently there was virtually nothing doctors could do for the 500,000 Americans who have strokes each year, the 500,000 to 750,000 who experience severe head injury, or the 10,000 people who are paralyzed after spinal cord damage (3). However, that is about to change. Researchers now think it may be possible to replace destroyed brain cells with new ones to give victims of stroke and brain injury a chance to relearn how to control their body, form new thinking processes, and regain emotions. After demolishing the long-standing myth that brain cells cannot regenerate or proliferate, scientists are developing ways to stimulate cells to do just that. Although stroke, head injury, and paralysis are three of the most devastating things that can happen to anyone, scientists have recently learned that the damage they cause is not preordained. It takes place over minutes, hours, and days, giving them a precious opportunity to develop treatments to halt much of the damage. Most of the n ew remedies are not yet available, but an explosion of research in the last five to ten years has convinced scientists that some of them will work (8). Guided by fabulous results in preventing permanent damage from stroke and other injuries to the central nervous system in rats and other animals, researchers around the world have launched scores of trials in humans (12). However, many promising new therapies are sitting on the shelf because of a lack of money and other resources necessary to conduct large, lengthy, and expensive studies to conclusively show that a new drug or treatment really works in people. The requirement for safety and efficacy can be frustrating, especially for badly needed treatments that are very promising, but such caution is necessary. One organization is trying to raise funds for a major study to test a pill for paralysis-4 amino pyridine (4 AP) -which has shown promising results in preliminary human trials (14). About half of the small number of people in the study, who had been paralyzed for four to fifteen years, regained some sensation and muscle function when they were given intravenous infusions of 4 AP.