Liberal Humanistic Critique of A Separate Peace - 1112 Words

John Knowles’ novel, A Separate Peace, reveals the many dangers and hardships of adolescence. The main characters, Gene, and Finny, spend their summer together at a boarding school called Devon. The two boys, do everything together, until Gene, the main character, develops a resentful hatred toward his friend Finny. Gene becomes extremely jealous and envious of Finny, which fuels this resentment, and eventually turns deadly. Knowles presents a look at the darker side of adolescence, showing jealousy’s disastrous effects. Gene’s envious thoughts and jealous nature, create an internal enemy, that he must fight. A liberal humanistic critique reveals that Knowles’ novel, A Separate Peace, has a self contained meaning, expresses the†¦show more content†¦Gene made Finny his enemy, only because he felt envious of his personality and character. Knowles explains that all people should live life to its fullest, and avoid jealousy, envy, and hatred. A liberal humanistic review, shows that Knowles’ novel, promotes the enhancement of life. Knowles’ novel A Separate Peace, also reveals that human nature never changes. Knowles, reveals the tragic flaw of jealousy, that has continuously plagued human nature. Gene’s envy of Finny’s exceptional personality and character, reveals this terrible flaw. Human nature has always contained jealousy or envy, but Knowles’ novel reveals its truly destructive nature, through the characters’ thoughts and actions. Gene’s character, illustrates the progression of human nature and jealousy. A pattern is revealed, that simple jealousy forces action, which in turn, creates guilt and internal punishment. This represents the static nature of humans, who change very little. Gene’s envy, forces him to act, which creates enormous guilt that he must now carry. Knowles reveals that humans do not change or learn, even after a great tragedy. Gene may have learned from his actions, but all the other characters, will take no heed. This shows th at although humans should learn from their past mistakes, they do not pay attention, and continue doing what they know they should not. Gene â€Å"jounced the limb,† (Knowles 60,) thus ending Finny’s life. Humans however, will not change, and another personShow MoreRelatedA Critical Review of â€Å"the Ambiguities of Football, Politics, Culture, and Social Transformation in Latin America† by Tamir Bar-on.14147 Words   |  57 PagesPolitics; Social Transformation; Sport and Games [pic] [pic]Introduction 1.1 As Western society nears the end of the twentieth century, the howling horrors of political totalitarianism - namely, Stalinism and Nazism - grow dim, and liberal, capitalist horizons fade in the winter of nihilism (Grant, 1969: p. 40), dictated by the pure will to technology;[1] mastery over humanity, nature, and chance; the cult of money; and shallow, instrumental individualism. Meanwhile, the boundariesRead MoreGp Essay Mainpoints24643 Words   |  99 Pagesgeneral election (most memorable online moments pale by comparison: first political suicide by Twitter when a Labour candidate posted some crude comments) (moment that changed the campaign was a live televised debate where in a 90-minute contest, the Liberal Democrat leader, Nick Clegg, ended in clear victory and whose support surged by an unprecedented 50 percent afterward: TV invented in 1925) (most memorable incident came when Prime Minister Gordon Brown was campaigning in Rochdale when a widow cameRead MoreNegotiati on and Culture: Case Study24152 Words   |  97 Pagesgeneral expected and desired (Hofstede, 1991: 37). In Japan this inequality is especially expressed in the oya-ko concept (literally meaning parentchild), which originally refers to a leader or a work group and its members. As work and home began to separate during the beginning of modern period of Japan oya and ko began to have a strictly kinship meaning – with no economic aspect – such as it had until the Tokugawa period where the ie (extended household) was more than just a family or a kinship unitRead MoreOrganisational Theory230255 Words   |  922 Pagespostmodernism anything new? The history Post-industrialism and the information society The virtual organization Neo-fordism, flexible specialization and post-fordism The regulation school Institutionalist school The ‘managerialist’ school The flexible firm – critique Postmodern organizations – the work of Stewart Clegg and Paul Heyd ebrand Conclusions 198 198 200 202 205 206 211 213 215 217 220 225 227 234 Chapter 6 Postmodernism as a philosophy: the ultimate challenge to organization theory? IntroductionRead MoreRastafarian79520 Words   |  319 PagesBrown, Jonathan Reader, and Roger Shinn, whose advice and insights have helped to shape the focus and hone the arguments of this book. Third, the research for this book was facilitated by Barry Chevannes, who directed me to resources and provided critique of my approach; Samuel Vassel, who was not only my intellectual sounding board but also the most avid supporter throughout the entire project; and Charlene Adams, my research assistant in 2001, who read the manuscript and suggested many editorial Read MoreCase Study148348 Words   |  594 Pagesimplementation would be managed. Many of the advanced level work assignments are specifically designed to test readers’ in-depth understanding of issues and/or ability to use them in a project situation. Where the relationship between strategy and the separate business functions is of primary importance, group work (preferably with cross-functional teams) could be very helpful. This could be for work on the case studies, in-company work or business simulations. †¢ †¢ 3.2 Level of participant TheRead MoreDeveloping Management Skills404131 Words   |  1617 Pagesabout what managers actually do from day to day. He further faulted management textbooks for introducing students to the leading theories about management while ignoring what is known about effective management practice. Sympathetic to Mintzberg’s critique, we set out to identify the defining competencies of effective managers. Although no two management positions are exactly the same, the research summarized in the Introduction highlights ten personal, interpersonal, and group skills that form theRead MoreStephen P. Robbins Timothy A. Judge (2011) Organizational Behaviour 15th Edition New Jersey: Prentice Hall393164 Words   |  1573 Pagesthe companies just happened to be in the right place at the right time.†14 Although we try to avoid it, we might also fall into this trap. It’s not that the business press stories are all wrong; it’s that without a systematic approach, it’s h ard to separate the wheat from the chaff. We’re not advising that you throw your intuition, or all the business press, out the window. Nor are we arguing that research is always right. Disciplines That Contribute to the OB Field 13 Researchers make mistakes

The Issue Of Illegal Immigration - 1623 Words

Ian Carr Dr. Hunte 9/24/2015 ENC1101 Who will be Trumped this time? Introduction As you may know the next presidential elections are coming up very soon. Through the election process, each candidate is asked about many topics. One topic inparticular has become very popular, illegal immigration. The primary question that is asked is, â€Å"How will you deport and limit the number of illegal immigrants in the United States?† This question got me thinking, If I were in their position what would I say in response? The following essay will illustrate the ideas on illegal immigration. Facts Immigration has always been a problem ever since we put a border between the United States and Mexico. In the beginning it really was not as big of an issue that it is today. Today more that 11.3 million unauthorized immigrants live in the US.(2015) Though the number is declining it is still an issue that affects all of us today, directly or indirectly. How do you expect to raise the quality of life for the homeless in America, when the unauthorized immigrants are taking all the jobs. If we can reduce the number of these unauthorized immigrants, we can improve our country s way of life. Six states alone account for roughly 60% of unauthorized immigrants. Including California, Texas, Florida, New Jersey, and Illinois. From 2009 to 2012, seven states inparticular have increased in the amount of illegal immigrants; Such states are Maryland, Nebraska, New Jersey, Pennsylvania, Idaho, Florida, andShow MoreRelatedThe Issue Of Illegal Immigration1523 Words   |  7 PagesThe issue of illeg al immigration has become one of the most important issues of concern to the international community and the countries that represent a source of migrants as well as countries that receive them it is worth mentioning that there is a close link will appear in the coming days between the global financial crisis and the issue of illegal immigration; since that crisis will push millions of young people to the lists of unemployed to increase their number in developing countries, andRead MoreThe Issue Of Illegal Immigration1420 Words   |  6 PagesOne of the most controversial issues in politics today is that of illegal immigration. â€Å"Immigration has been a constant source of economic vitality and demographic dynamism throughout our nation’s history.† (CAP Immigration Team, 2014) There are thousands of immigrants that arrive in the United States each year. Over the years, illegal immigration has been growing despite policies made to prevent this growth. In my opinion , immigration will continue to be a social issue that is fiercely debated duringRead MoreIllegal Immigration Is Not The Issue961 Words   |  4 PagesUndocumented Issue Often when I dive into almost any political debate or national issue I find that people love to argue over the symptoms of an issue and almost never the root cause. Illegal immigration is just one of these symptoms, however I prefer the more accurate term of undocumented immigration. Illegal immigration is not the issue at hand, the issue at hand is that the state and federal governments do not want people working that are undocumented. First of all, what makes one an illegal immigrantRead MoreThe Issue Of Illegal Immigration Essay2314 Words   |  10 PagesImmigration Immigration has been a controversial topic for decades. It began a long time ago when slaves were brought in from the atlantic as a response to the increasing demand for labor in the United States. There were no legislative restrictions on immigration until the 1800s. Immigration began to become more of an issue as more and more people began to enter the United States, and as more people were found to be living illegally, the problem of illegal immigration arose. There are manyRead MoreIssues of Illegal Immigration2970 Words   |  12 Pagesa hotbed for illegal immigration issues, so the news flew under the radar. Last year, the state enacted immigration reform of its own after tiring of seeing politicians of all stripes kick the problem down the road. But heres the thing the reforms worked. The states unemployment rate fell 0.6%, and a lot of those new jobs that were created were specifically attributed to companies hiring Americans after shedding their illegal workers (M unro, 2011). So what is it about immigration reform? EverybodyRead MoreThe Issue Of Illegal Immigration Essay977 Words   |  4 PagesBorders Illegal immigration is an issue that plagues the border states and it must be controlled. What should be done with illegal immigrants has been a hotly contested issue in the news and also during the current election process. In â€Å"Obama’s Numbers April 2016 Update†, Brooks Jackson states that in 2014, 11.3 million illegal immigrants came into the US. The Democrats and Republicans debate on whether amnesty or mass deportation is the better alternative on what to do with these illegal immigrantsRead MoreThe Issue Of Illegal Immigration1069 Words   |  5 PagesIllegal immigration has become an explosive issue in the U.S. Many people have debated fervently in their disapproval of illegal immigration, whereas others defend it just as ardently. The church and Christian religion/theology has been drawn into the fray over illegal aliens as well, with Christians on both sides seeking to validate their positions based on their own individual beliefs. I interviewed many different people with equally varying opinions on the matter. Over the past few months, manyRea d MoreThe Issue Of Illegal Immigration1519 Words   |  7 PagesNo issue in any immigration policy kindles more dispute than the issue of illegal immigration. Unfortunately, some people confuse legal and illegal immigration. Legal immigrants are here legally. They have the proper, legal documents that allow them to live and work in the U.S. without complications. Illegal immigrants are defined as anyone who was born in a country other than the U.S. to parents who are not official U.S. citizens; they enter the U.S. without legal documents to prove their legalRead MoreThe Media And The Issue Of Illegal Immigration777 Words   |  4 Pages Paper #1: Discuss how the different media outlets frame the issue of illegal immigration? It is commonly known that media coverage of anything controversial can be faulty, and biased. ABC News and CCN News could cover the same story, in different ways. This is amplified in cases that affect different audiences (as in age, race, financial class), because certain stations are aimed towards a certain audience. A great example of this is FOX and FOX Latino. The two stations, though sister stationsRead MoreThe Issue of Illegal Immigration in the US1087 Words   |  5 Pages Americans today, know that there is a problem with illegal immigration. Everyday many illegal immigrants cross the borders. There are between twelve and twenty million illegal immigrants in America. (â€Å"Scary Immigration Statistics† 1) The U.S. should make all illegal immigrants register or deport them to their original countries. The U.S. should also make a program so that the immigrants can get a license for legality. If the immigrants do not want to cooperate, then they cannot be in America. T he

CIMIC Group Ltd †Free Samples to Students

Question: Discuss about the CIMIC Group Ltd. Answer: Introduction: The company CIMIC Group was formed in Australia in 1949. The company is one of the worlds leading international contractors and the worlds largest contract miner. The company provides construction, mining, mineral processing etc. services to the property markets. One should have good eye on the financials of the company before investing. Following are the assets which should be deeply investigated while investing in CIMIC Group Ltd: Inventory: The inventory level of the company is getting lower YOY as in 2014 it was 362 AUS Million where as in 2015 264 AUD million and in 2016 it dropped to 213 AUD million. There can be various reasons behind that either the demand of the products has got lowered or company is not having production capacity to manufacture goods as some machines gets destroyed. There can be chances that company might be having orders in hand and due to less stock in hand some order does not converted into actual sales. On positive note, there can be situation that the companys sales have increased and there was less Stock in Hand because of more orders in hand. More of inventory should not be kept in hand as that will be blockage of capital of company. So, one should also judge the average reorder level of the company so that right level of closing stock can be known. Inventory is a current asset, it has also impact on return on assets. Goodwill: This is very sensitive asset as it does not have cost of its own because it cant be purchased. It can only be valued. So, one should closely monitor the method which company has adopted in valuation of goodwill as there has been continuous increase in goodwill YoY basis as in 2014 goodwill valuation was 364 AUD million and it increased to 370 AUD million and whereas in 2016 it again increased to 914. There is such a steep jump in 2016 in the valuation. Goodwill has increased by 147% which is too high. Normally such type of change is abnormal. There can be chances that the company has increased the value of goodwill to increase the return on total assets. Creation of goodwill creates lot of years to develop. It does not arise with in few years. One more thing to consider is that, the sales of the company is declining YOY then how the goodwill of the company can increase 147% in 2016. It seems that the valuation is not correct. The valuation is done to increase the ROA so that more and more shares can be issued. Otherwise there is no reason of increasing goodwill. Intangible assets: Intangible assets are those assets which are not tangible asset. For example trademark, brand name. Again the same issue is there, some of intangibles can be purchased some cannot be like brand name cannot be purchased, it can only be developed with the passage of time. Valuation has to be done to record in books of accounts. So which valuation method has been adopted by the company has to be taken care of because if valuation has been done on higher side, then the assets will be higher and the return on assets will be higher. Normally intangible assets are not purchased, they are created. Some of the assets can be purchased like of trademark etc. but majority like of brand names can be created and its valuation is very difficult. As the companys position is not stable, then intangible assets like brand name, trademark will be of no value in the market. One should also have an eye on the income statement of the company to know the graph of expenses: Revenue: Revenue means sales. The sales of the company is in declining trend which can be evident from the figures that in 2014 it was 16818 million AUD and in 2015 it dropped to 13818 million AUD and in last 2016 it dropped to 10847 million AUD. So, as the company sales is declining then how can ROA can be increased. Definitely ROA will be in declining trend. If it would be in increasing trend then there might be chance that the company has revalued its assets. Declining in sales means that either the business is getting dropped because of decrease in demand of the product or the company is not able to manufacture products which are as per market standards. So, before investing in this company, one should consider this factor of declining sales because is sale is there, everything is there. If sale is not there then nothing is there. Profit comes out of sales and if sales are in declining trend then profit would be in declining trend because there would be some expenses which are of fixed nature and that cannot be reduced. Contribution can be stable or in increasing trend because formula to calculate contribution is Sales minus Variable cost and variable cost can increase or decrease with the production but profit whose formula is Contribution Fixed cost and fixed is always fixed. It will keep on incurring irrespective of production. So Sales should be in increasing trend. Return on Assets: This means the income which company is earning by investing in total assets. Formula of ROA is Net Profit/ Total assets. Higher the ratio better it is because higher the return better it is. If we see the ROA of the above discussed company then it is not very good as in 2007 it was approx. 10% which has dropped to 5.89 % in 2016 which is not good. Every company invests in assets with a mindset that it will give return in the form of profit. Without profit nobody invests in assets. Even when we have to invest in new project, we calculate NPV just to see the net cash inflow so that this project attains profitability till the end of the project period. We also calculate payback period to know by how much years the investment in assets will turned back into profit. Asset Turnover: This shows how much time is the sales of the company as compared with assets invested in the company. Higher the ratio better it is because higher ratio defines that the companys turnover is that much times of the companys assets. In 2012 it was 1.93% which has dropped to 1.10 % in 2016 which is not good. This is also an indication of higher profitability of the company. Formula: Turnover/ Assets Profitability: Profitability ratios denote the profit earning capacity of the company. In other words it defines the ability of the company to earn profit. With this ratio an investor may come to know the return he can expect by investing in the company. As if we calculate return on asset, with this one may come to know the return which the company is earning by investing in assets or by computing the return on equity, one can come to know the return which an investor can earn by investing in equity of the company. The profitability ratio is calculated considering the assets and equity investment in the company. The profitability ratios of the company are not very good as the same are lower than 1. This shows that the assets which have been invested in the company are not giving good return which can be evidenced from the ratio which is below 1. As all the shareholders are concerned with the return on assets of the company because if the company will not earn then how it will distrib ute the earnings to the shareholders. Moreover if we also see the return on equity, its also not very good as it in declining trend. Formula : Net Profit/ Net Sales Conclusion: For Return on assets, profit has to be good and on the other side assets have to be good. Profit can only be because of sales and if profit is not there assets cannot be created or purchased. If assets cannot be created or purchased, return on assets cannot be good of that company. So, one should not invest in this company as it seems that the company has increased its assets with intangible assets like of goodwill etc. References: CIMIC, viewed 29 April, 2017, https://www.cimic.com.au/our-business/profile.

Introduction. Essays (473 words) - The Walt Disney Company

Introduction. Disney Company or also known as the Walt Disney Company, previously named with Walt Disney Productions is a successful American empire. This company s tarted to carve its name in entertainment arena during the 20 th and 21 st centuries. This prestigious company has a very reputable history in the entertainment industry for over 75 years. It started operating on October 16, 1923 as the Disney Brothers Cartoon Studio, which is a joint venture of the Walt Disney and Roy, his brother. Since the establishment, three years later, the company produced two movies and bought a studio in Hollywood. The company almost failed when a crisi s of distribution rights occurred . However, the presence of Mickey Mouse saved them. CITATION Abo16 \l 1033 (About tech, 2016) The Walt Disney Company won their first Academy Award for Best Cartoon, for the Silly Symphony by the year 1932. In 1934 Disney produced Snow White and the Seven Dwarfs and released it in 1937. It was lit at that time. However, there were difficulties in producing films due to high expenses. Made it worse, the emergence of World War II halted the production of films. Even after it ended, the company still faced difficulties to get back their efforts made earlier together, but they managed to rise up back by their first live-action film namely Treas ure Island and also Cinderella in 1950. Meanwhile, in 1955, the Mickey Mouse Club started debuting. The launching of the first California Disney theme park was in 1955 continued to shine in the entertainment industry, the company managed to survive in fame even when the founder died in 1966. To continue this empire, his brother, Roy took over the company and continued succeeding and putting name on the top of the world. In 1983, Disney made a big step by building a Disneyland in Tokyo and did many projects like merchandising, animation and live-action films and also more theme parks. Over the years, the Walt Disney moved on to a more vast market like The Disney Channel on air. They also widened their empire by establishing sub companies such as Touchstone Picture aiming to produce films that were not only tied to family-oriented films. In 1996, Mr. Iger joined the senior management team of the Walt Disney as Chairman of the Disney-owned ABC Group. He the n was given another responsibility of President for the Walt Disney International. He then becomes as a Chairman and Chief Executive Officer of the Walt Disney until now. CITATION The16 \l 1033 (The Walt Disney, 2016) References BIBLIOGRAPHY About tech. (2016). Retrieved from animation: http://animation.about.com/od/Animation-History/fl/Animation-History-Snow-White-and-the-Seven-Dwarfs.htm The Walt Disney. (2016). Retrieved from The Walt Disney Company: https://thewaltdisneycompany.com/about/#leadership

William Shakespeare

William Shakespeare wrote the play, Macbeth. First published in 1603, the true elements of this plot give it more of an interesting theme. This play deals with the conflicts of power and fear. Macbeth is a story about the consequences of greed and success. At the beginning of the play, three witches give somewhat of a narration about the up coming events that are about to take place in the story. Macbeth has just come back from war and has been greeted by the king of Scotland, Donalbain. Due to his bravery while away at war, the king prepares a special welcoming in his honor. In scene three of act one, the witches again reveal themselves and try to scare Macbeth out of his plains of one-day gaining success over his country. After telling his wife about the prophecies from the witches, Lady Macbeth decides to take action into her own hands by killing off the person who has gained their trust and respect, Duncan. While in their home, Lady Macbeth plains out a scheme to pin the responsibility of the death of the king on his two servants. After all has happened, Macbeth is given the thrown just like the witches had prophesied. And this is the start of the beginning of a long power struggle to stay on top, witch eventually ends! up with the death of the once respected Macbeth. Lady Macbeth is truly a woman before her time. In act two of scene two she curses her own husband by saying Infirm of purpose, which was never heard of in this particular time era. Then by taking the fate of her own husbands life and hers, after Macbeths attempts to fail, and correcting it, shows her bravery in this relationship. Even though she is not mentioned that much in this play, her strength is evident through in her husbands actions and thoughts while king. If a person is looking for a strong fearless role of a woman, the part of Lady Macbeth is breath taking. Also another really good scene between two m...

More Answers to Questions About Apostrophes

More Answers to Questions About Apostrophes More Answers to Questions About Apostrophes More Answers to Questions About Apostrophes By Mark Nichol 1. In a reference to the amount of medication provided to an outpatient, I read â€Å"three days’ supply for acute or chronic noncancer pain; seven days for cancer pain or palliative care.† Should days be singular in this expression, or plural? I can’t decide whether it applies to three individual days, one at a time, or a single amount dispensed for three days. And in the second phrase, supply is implied after â€Å"seven days.† Should days after seven also have an apostrophe? â€Å"Three days’ supply† is equivalent to â€Å"a supply for three days,† and the supply essentially â€Å"belongs† to the unit of time, not to the segments of time that constitute that unit, so the construction should be in plural-possessive form, as shown. Also, yes, â€Å"seven days† is an elided form of â€Å"seven days’ supply, with the repetition of supply implied, but the apostrophe should not also be omitted. However, the elided form â€Å"seven days’† is still awkward, and I recommend using the full phrase: â€Å"seven days’ supply.† I also advise replacing the semicolon with a comma and or. 2. Are the apostrophes in this sentence correct?: â€Å"The US Department of Labor’s Bureau of Labor Statistics’s 2006 Survey of Occupational Injuries and Illnesses revealed that nearly 15 percent of nonfatal occupational injuries and illnesses happened in the retail trade sector.† Yes, they’re correct, but the use of two consecutive apostrophized proper names followed by the title of a survey is cumbersome. I recommend relaxing the sentence somewhat to â€Å"The US Department of Labor’s 2006 Survey of Occupational Injuries and Illnesses, conducted by the department’s Bureau of Labor Statistics, revealed that nearly 15 percent of nonfatal occupational injuries and illnesses happened in the retail trade sector.† There are still two apostrophes, but at a distance from each other, and one of the proper names is also removed from the long train of capitalized words, and the awkward form Statistics’s is avoided. 3. Please settle a disagreement. A friend told me that adding an apostrophe and an s to Joe and Jane in the following sentence is wrong, but I think it’s correct: â€Å"Many celebrities, instead of marrying other famous people, choose to settle down with average Joe’s and Jane’s.† With rare exceptions (such as in the saying â€Å"Mind your p’s and q’s†), an apostrophe should not be employed when creating a plural form, and pluralizing a proper noun is not one of those cases. Simply add an s to each name: â€Å"Many celebrities, instead of marrying other famous people, choose to settle down with average Joes and Janes.† Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the Punctuation category, check our popular posts, or choose a related post below:Farther vs. FurtherCapitalization Rules for Names of Historical Periods and MovementsApostrophe with Plural Possessive Nouns

Global Impacts Essay Example | Topics and Well Written Essays - 4500 words

Global Impacts - Essay Example Louis Vuitton is a luxury fashion and leather goods company headquartered in Paris and France. (Louis Vuitton) India is fast becoming an international fashion destination, coordinating efforts with international designers so that Indian designers are exposed internationally and foreign designs are exposed in India. (Business Desk, 2009) However, there are a number of internal and external environmental factors with respect to marketing strategies that Louis Vuitton will be required to take into account for the purpose of adapting to and entering the India market. Each of these factors will be examined in this essay. In order to facilitate a smooth transition into the Indian business environment Louis Vuitton will be required to understand the cultural differences. The Hofstede Model of Cultural Dimensions can act as a useful guideline for determining the cultural differences in India and what can be done in the business organization to accommodate those differences. Hofstede identified five cultural dimensions that are relevant for global marketing strategies. The first cultural dimension on Hofstede's cultural dimension scale is Power Distance Index (PDI). PDI draws on the level of equity and inequity among the population in a nation's society. High Power Distance Index will mean that power and wealth is distributed at a high rate of inequality in that society. In this regard citizens are generally denied upward growth. Low Power Distance typically means that the society is driven by equal opportunities ambitions.(Hofstede, 2001) According to Hofstede's Power Distance Index, India ranks 77 which is high. However, it is not that far ahead of France's PDI which is at 68 (Hofstede's Dimension of Culture Scale) The average PDI around the globe is 56. (Hofstede's Dimension of Culture Scale) The difficulty with countries showing high PDI rankings for businesses is that the individual from that culture will typically defer to higher authority for a decision even if they are aware that something is terribly wrong and what measures are required to correct it. The Korean Air crash in Guam is one example of the consequences of a high PDI ranking. In this scenario, the pilot made an error which the co-pilot was aware of, but deferred to the pilot's decision who was his superior.(Gladwell, 2008) For the purposes of internal organization of the business office in India, Indian employees are likely to adhere to the power structure within the organization. Even so, a high PDI is also indicative of fear of and ambivalence toward anything foreign.(Chan and Cheung, 2008) The second of Hofstede's cultural dimension is Individualism (IDV). IDV emphasises the level with which the particular society focuses on either individual or collective relationships and achievements. A country with a high IDV ranking is generally one in which the emphasis is on individuality and individual rights. Persons within in high IDV countries gravitate toward more relaxed relationships. Conversely, low IDV rankings are typically characterised by collectivism and more tightly woven relationships between persons. Low ranking IDV countries typically focus on families and a collective approach toward looking out for the members within in their tightly woven circle.(Hofstede, 2001) India's IDV ranking is 48 and relatively low when compared to France which is at 71.

Workers in America Essay Example | Topics and Well Written Essays - 750 words

Workers in America - Essay Example As the labor movement picked momentum in the second half of the 19th century, many labor unions, like the International Typographical Union, the Knights of Labor, rapidly rose in the US (History.com Staff). Among all, the American Federation of Labor (AFL) emerged as one of the first and dominant federations of labor unions in the US (â€Å"American Federation of Labor†). The purpose of this paper is to discuss the origins, the political and social perspectives, and the major labor activities that the AFL involved in during its lifetime. By the early 1980s, over 42 international labor unions were present in the US (Jones et al. 2). However, labor unions in the US remained feeble over the years. By the late 1870s, mere 3% of the overall labor force and hardly 8% of total industrial workers possessed membership of labor unions (Simkin). In 1881, Samuel Gompers (a Dutch immigrant) and some other local leading skilled workers in specific sectors, like cigar making, carpentry, and printing, established the â€Å"Federation of Organized Trades and Labor Unions† (FOTLU) in the US (Welling). During that era, the Knights of Labor was the largest organization that included many small labor unions and it had played a vital role in some of major labor strikes of the period (â€Å"AFL†). However, the Knights of Labor’s leadership had occasionally supported its rival trade unions which had compromised for lower wages and supplied strikebreakers during other trade unions’ protests or strikes (â€Å"AFL †). The Knights of Labor enrolled even small employers as its members to chase social reform and challenge capitalist ideology. It had little interest in local labors’ issues, like wage scales, qualifications of workers, working conditions, strikes, or particular trades (Jones et al. 2-3). The Knights of Labor lost some crucial strikes which cost the union many members. Especially after the Great Southwest Railroad Strike and the Haymarket Riot of 1986, employers’ opposition

Importance of English Essay Example for Free

Importance of English Essay Good morning, teacher and fellow students.Today I would like to talk to you about â€Å"the Importance of English.† First, English is the language for communication more than 1.5 billion people speaks this language everyday. It is indeed one of the most widely spoken languages in this world. Second, English is the language for Science and Technology many books are written in English. Many research papers are presented in English. If you are good in English, you were be able to give up with it latest development. Third, English is the language for travel if you ever travel oversea, you will understand it is importance .For example, you go to the airport-you read signs and directions in English .You checked into a hotel-you speak English with the receptionists .You go shopping-you bargain in English .You go to a restaurant-you order you food in English. Imagine just how difficult things can be if you can’t speak English well. Finale, English is the language for international business and trade. If you want to do business internationally, you were have to commence with your business associates in English, the better your English is the more business opportunities you were have. My conclusion is that everybody must learn this importance languages .You want be successful, MASTER ENGLISH! ! ! You want to have good career, MASTER ENGLISH! ! ! You want to make friend with people from all over the world, MASTER ENGLISH! ! ! If you successfully master English, You were have many more opportunities in life so make up you mind, pick up your book, open your mouth and start learning English today.

Does The Supreme Court Abuse Its Power? Essay -- Politics Political Es

Does The Supreme Court Abuse Its Power? There have been many complaints and theories of how the Supreme Court has a tendency to act as a "supra-legislature" (Woll 153). It is proposed that the Supreme Court takes the power to make laws and set policies which rightfully belongs to the Congress and state legislatures. They state that Justices exceed their authorized powers of judicial review and read their own opinions and views into the Constitution and are in fact "politicians in robes" (Woll 533, Sheldon xi). Alexander Hamilton's definiton of the Supreme Court's power of judicial review was argued in Federalist No. 78. He states that the main purpose of this power is a check ont he legislature where the Supreme Court is an "excellent barrier to the encroachments and oppressions of therepresentative body ... to secure a steady, upright, and impartial administration of the laws." He also gives the Supreme Court the power to rule on state laws by judging them against the Constitution: "But the act of an original and superior authority takes precedence over that of a derivative and subordinate one, and so judges must adhere to the Constitution before a statute" (Wolfe 74-75). Hamilton sets the power definition of the Court with those lines. Many feel that the fears of the Court taking power from the legislative and executive branches are unfounded on the basis that the Court is too weak to do so. Hamilton argued that since that it was dependent upon the executive for the enforcement of its decisions and had to be wary of the legislative check of impeachment, there could not be any "series of deliberate usurpations" of power (Wolfe 76). They are also limited in that they cannot initiate l... ... McKenna, George and Stanley Feingold, eds. Taking Sides: Clashing Views on Controversial Political Issues. Fifth Ed. Guilford, Connecticut: Dushkin Publishing Group, Inc., 1987. Press, Aric and Ann McDaniel. "Where Bork Stands." Newsweek 14 Sept. 1987: 24-34. Sheldon, Charles H. The Supreme Court: Politicians in Robes. London: Glencoe Press, 1970. Taylor, Stuart, Jr. "Bork's Colleagues Like the Man, Not His Thinking: Yale Friends Look Back at Top Court Pick." Gazette Telegraph [Colorado Springs, CO] 13 Sept. 1987: A7. Wolfe, Christopher. The Rise of Modern Judicial Review: From Constitutional Interpretation to Judge-Made Law. New York: Basic Books, Inc., 1986. Woll, Peter. American Government: Readings and Cases. Ninth Ed. Boston: Little, Brown, and Co., 1987. Transcribed to HTML on 1997-09-29 by David Wallace Croft.

Apush Supplemental Reading Notes- Early Settlements

APUSH SUPPLEMENTAL READING NOTES Early Settlements by James Horn |Please answer each question thoroughly and completely. If you have treated this assignment lightly, you will | |be at a disadvantage in writing essays that call for â€Å"substantial and appropriate outside information. † Read Early Settlements | |(http://www. gilderlehrman. org/history-by-era/early-settlements/essays/early-settlements ) by James Horn and complete the prompts below. |In two or three well thought out sentences, summarize the major point of this reading. (Please be thorough. This will be very important to| |you late in the year when reviewing for the AP test) In this reading, the author wrote about the early English settlers of | |the New World.He opens with a quote from a passage from the 16th century that speaks about the colonies in the new world, and how England| |should get involved and start to colonize as well. The author then goes into detail on the establishing of the 13 colonies of England in | |the New World and later on, the lifestyle in terms of immigrants, diversity, and population. The article ends talking about the expansion | |from the original 13 colonies to what would make Britain known as â€Å"the acknowledged master of North America†. |In a couple of sentences, what was the bias of the author? From what perspective does the author write–political, social, and economic? | |Why is this significant in the document you have read? Related article: Apush Taxation Without Representation DbqWhile most essays and articles seem to have some form of bias, I do not| |pick up in any way a sense of this at any time in the reading. He conveys his message of England’s rise to dominance of North America, | |maybe slightly hinting at bias in that sense, but nonetheless, in a writing style hat displays facts one by one, and gets straight to the| |point. This style of writing is clearly significant in the document simply because it is an easy way to limit bias, and shorten the | |article, therefore making it more reader-friendly for some- if not most readers. | Continued on the next page |Different from the â€Å"what is the main point† question above, list several things that you learned from this reading, things that you did | |not know before doing this reading. |Treaty of Utrecht (1713) gave Britain control of the areas of Hudson Bay, Acadia (Nova Scotia), and Newfoundland | |Spanish were involved in the Fr ench and Indian War | |The British 13 colonies grew in population (nearly 5 times size) over 60 years | |Surges into the backcountry (west of Appalachian) began so early (early 18th mainly) | |Black populations grew even more rapidly from about 20,000 in 1700 to 326,000 by 1760 | |Rice became the third great staple of Britain’s transatlantic commerce, alongside West Indian sugar and Chesapeake tobacco | |5,000 Algonquians who lived along the coastal plain of Virginia when the English first arrived, only about 1,000 remained by 1700 The purpose of this assignment is to help you be prepared to refer to historians or historically significant individuals in your AP test essays.In the space below, write down quotes from the document that you think might be useful. Try to be selective–choose those that are| |genuinely typical of the writer’s thinking or that highlight a major point in the writer's thinking or argument. Include page numbers so | |that you can find them again when we review. | |â€Å"English indentured ervants, Ulster Irish, Catholic Irish, Scots, French Huguenots, and tens of thousands of Germans from the Rhineland and Swiss cantons moved into the coastal plain; flocked to the burgeoning port cities of Boston, New York, and Philadelphia; trekked along fertile river valleys into the interior; and pressed on toward the Appalachian Mountains† â€Å"Together, Virginia, Maryland, and the Lower South accounted for fully 87 percent of all Africans and African Americans living in the | |mainland colonies in 1760† â€Å"The turn of the century witnessed a new direction in English colonizing activities. Peace with Spain in 1604 brought an end to | |privateering, plunder, and the need for a North American base from which to attack Spanish shipping† | | | |â€Å"Jamestown, founded on May 14, 1607, barely survived its first five years.A combination of disease, Indian attacks, faction, and the | |failure to make any signi ficant discoveries or profit brought the colony to the edge of collapse on several occasions and discouraged | |continuing investment. The discovery of a lucrative cash crop, tobacco, which could be cultivated extensively in Virginia and brought a | |handsome return in England, saved the colony but not the Virginia Company, whose exclusive charter was revoked in 1624. SOURCE: http://www. murrayschools. org/MHS/apus/ 10. 1. 2007

Is it ethical to mask your true emotions in order to get along with others? Essay

Honesty is the best policy. Or is it not? As children, we were taught that honesty is telling the truth straightforward. We were told that it is being sincere, genuine, trustworthy, loyal, and fair. We were taught to tell the truth at all times, despite consequences. Our parents taught us to do our own homework, keep a friend’s secret, return stuff we found, and keep our promises. But as we grew older, the line between the truth and falsehood started to blur. We began to tell and accept half-truths. We began to resort to telling white lies to get out of potentially disastrous situations. We are confronted everyday by basic issues of honesty. If a man is forbidden by his wife to smoke, should he confess that he took a few sticks from his buddy’s pack when they were at the bar earlier that night? Is it really imperative that he do so when he only smoked two, maybe three, cigarettes? Does he have to be completely honest with his wife or can he get away with something that insignificant? If you are anti-Bush and attending a formal dinner where every single person at your table is pro-Bush, should you be completely honest and let everyone know your sentiment, at the risk of alienating yourself? Or should you save your Bush-bashing for another time and another place? Should you just go along with the conversation and act indifferent towards the topic? As Saki (1929) said, â€Å"A little inaccuracy sometimes saves tons of explanation†. But is this ethical? Or must honesty always reign supreme? Some people, institutions, and dogmas bolster the virtue of being completely, straightforwardly honest. But is it not also true that sometimes people who are brutally honest find more satisfaction from being brutal than from being honest? The philosopher Immanuel Kant claimed that the telling of a truth is the â€Å"perfect duty†. He said that it cannot be superseded by other values – not even the concern for the life of a friend or the loyalty to someone we love. He insisted that the act of lying is always incorrect morally. However, many scholars have found Kant’s philosophy to be too extreme and self-serving. In the book â€Å"On Moral Grounds†, moral philosophers Daniel Maguire and A. Nicholas Fargnoli (1991) state, â€Å"Very simply, Kant would not be the man you would want to stand between you and someone intent on murdering you – at least if Kant knew where you were. † Furthermore, Maguire and Fargnoli (1991) refer to Kant’s stand on lying to explore the restrictions of universal moral principles. They write, â€Å"Universalization is an unrealistic and inaccurate abstraction that passes over the fact that there are exceptions to valid moral principles. † Also, â€Å"To protect other values, like the life of an intended victim or a legitimate secret, exceptions to truth-telling must be made. † In her book â€Å"Lying†, philosopher Sissela Bok (1978) says, â€Å"The failure to look at an entire practice rather than at their own isolated case often blinds liars to cumulative harm and expanding deceptive activities. Those who begin with white lies can come to resort to more frequent and more serious ones†¦ The aggregate harm from a large number of marginally harmful instances may, therefore, be highly undesirable in the end – for liars, those deceived, and honesty and trust more generally. † For the author, there is danger in all acts of lying because there is a possibility that the telling of even the smallest of lies may affect common discourse. She emphasizes that lies have a tendency to â€Å"spread†. Lies, even the most seemingly insignificant ones, can grow and affect other aspects of our lives. Nowadays, most people are utilitarians when it comes to the topic of honesty. White lies are okay because they probably don’t hurt anyone; but we avoid outright lies that have the possibility of offending or harming others. However, the utilitarian attitude to truthfulness has to have its limitations. As author Austin O’Malley said, â€Å"Those who think it is permissible to tell white lies soon grow color-blind†. Telling a white lie -like reassuring a sick person that he looks much better when, in fact, he doesn’t- is alright; but if it becomes a habit, there could be dire consequences. A person may lose credibility and respect from his partner, family or friends. Masking one’s true emotions to keep the peace in a certain situation or in order to get along with others can be ethical, but there are limits to how far you can go with faking how you really feel. There is a very fine line between truth and fiction, between lies and white lies. Even the Bible makes this distinction. The commandment does not say, â€Å"Thou shalt not lie†; instead, it says, â€Å"Thou shalt not bear false witness. † This means that lies that do not cause harm –for example, telling the hostess that a meal she made is really good when it was, in fact, absolutely horrible- is acceptable. In this instance, the lie is told to make the person feel better about herself and to show appreciation for her efforts. Here, the lie was actually made in attempt to do something good. However, a lie that could have grave consequences –such as when a person who has caused damages to his neighbor’s property does not admit that he did so to avoid having to pay for the cost of repairs- is a sin. To mask one’s true feelings in order to get along with others is fine as long as a person keeps to the boundaries and the motivation behind the lie or the masking of the truth is valid. Another consideration would be the frequency with which the person disguises his true opinions or feelings. If done too often, the person could risk losing his sense of self and authenticity. In â€Å"The Critic as Artist†, Oscar Wilde (1905) says that â€Å"a little bit of sincerity is a dangerous thing, and a great deal of it is absolutely fatal†. For people in relationships, he may have a point. Honesty may not be the best policy when we are hiding aspects of ourselves from the other person, when we do not want to be revealed, to be known completely. Honesty may not be the best policy when we do not want to get into trouble or when we are avoiding conflict. Honesty may not be the best policy when we are trying to spare the other’s feelings, when we do not want the other to feel hurt or disappointed. In a relationship, people may tell lies because they believe that it is the kind thing to do. Robert Brault once said that, â€Å"Today I bent the truth to be kind, and I have no regret, for am I am far surer of what is kind than I am of what is true. † Noble lies, which are intended for another’s benefit, are usually made under these kinds of circumstances. But while the motivation behind this type of lie may seem valid, there are still those who believe that the concept is flawed. Critics of utilitarianism say that â€Å"people often poorly estimate the consequences of their actions or specifically undervalue or ignore the harmful consequences to society (e. g. , mistrust) that their lies cause† (Mazur, 1993). Also, the concept of lying for the sake of a â€Å"greater good† may cause a further blurring of the line between moral justifications supporting the greater good and empty excuses.

Auntie Cookie Simulation Essay Example

Auntie Cookie Simulation Essay Example Auntie Cookie Simulation Essay Auntie Cookie Simulation Essay ACC561 The cost management system is a collection of tools and techniques that identify how managementâ„ ¢s affect costs ( Horgren, C. Sundem, G., Stratton, W., Burgstahler, D., Schatzberg, J. 2008, p. 136. Aunt Connieâ„ ¢s cookie company has been in business for 24 years. The company was created by Connie Rocho, and has always been a family- owned business. The companyâ„ ¢s Chief Executive officer is Maria Villanueva, Connieâ„ ¢s niece. She has hired a new Chief Operating Officer (COO) to make decisions to maximize the companyâ„ ¢s contribution margin and operating profits. She has given the COO total control of these operations. It would be beneficial to use cost accounting system to determine it product costs. The Aunt Connieâ„ ¢s trademark has acquired success producing lemon creme and real mint cookies. The decisions to be made for the cookies include bulk order, competitor buyout, new product production, and capacity issues. Price increases for the cookies have decreased volume sales and revenue. The sales mix presently used my need adjusting to maximize production and meet demand. The first analysis to consider is the contribution margin data. In its Contribution margin section (2003), In Wall Street Words states that the contribution margin is the sales minus the variable cost of producing the product. In the simulation the company is faced with the decision to cut prices to increase the sales volume. After calculating the comparison of the cookies the COO found that the contribution margin for the cookies was high enough to allow a price reduction. The owner wants to increase marketing expenditures in addition to cutting prices to boost sales. This would be an investment in the products to reach more potential customers. By increasing market expenditures the company will build long- term equity for the cookies. Connie cookies have been offered a special bulk order of 1,000,000 packs of cookies. The company would have to reduce the volume of another product to meet the demands of this order. The COO must determine if this order will be beneficial. In order to accommodate the bulk order the company the bulk order the company must reduce the volume of the lemon creme cookie or the real mint cookies to deal with a capacity issue. Because the lemon creme has a greater contribution margin the company will reduce the real mint cookies. The general rule of thumb suggests that it is better to produce the product that provides a greater contribution margin ( Horgren, et al., 2008). It is crucial to consider all the different alternatives to see how all situations affect operating profits. Aunt Connieâ„ ¢s cookies are confronted by a competitor to purchase their manufacturing unit. The company is going out of business because of their poor production manufacturing processes. The COO must decide if they will buy the company, and if they buy what cookie will they produce. Auntie Connie must assess the all alternatives on using a comparison table. Based on the data on the table the production of peanut butter cookies would result in losses. The lemon cremes have the greatest contribution margin and high demand so the company should buy the unit to keep up with the demand. According to the table the company should breakeven around 563,000 units, which is less than the needed amount of 600,000 resulting in profits for the new unit. The baker has come up with a new chocolate cookie to be used during the Christmas season. To produce this product the company is considering a purchase of new equipment that will aid in the production of this labor intense product. Present labor can produce 1,000,000 cookies a month, the new equipment will produce 4,00,000 units a month. The COO must compute the indifference point, which is the volume at which costs for both labor and equipment are equal (University of Phoenix, 2010, para. 10). In this case labor and equipment are equal at 1,000,000 units. The forecast is for 1,800,000 units is higher than the indifference point. The company will take a loss if they purchase the equipment because the fixed cost will have to be paid even if they donâ„ ¢t produce the 4,000,000. Until the demand is closer to the capacity of the equipment the higher labor would be the best route. It is essential that Aunt Connieâ„ ¢s cookies use cost accounting systems to determine its product costs. The company can accomplish this by using the contribution margin approach by using graphs, comparison tables, the breakeven analysis, and the point of indifference. All these factors are essential for continued success. References contribution margin. (2003). In Wall Street Words. Retrieved from credoreference.com/entry/hmwsw/contribution_margin Horgren, C., Sundem, G., Stratton, W., Burgstahler, D., Schatzberg, J.(2008). Introduction to Management Accounting. [University of Phoenix Edition e-text]. New Jersey: Pearson- Prentice Hall. Retrieved from University of Phoenix, ACC561Interdisciplinary Capstone course website. University of Phoenix. (2010). Contribution Margin and Breakeven Analysis[Computer Software]. Retrieved from University of Phoenix, Simulation, ACC561-Accounting course website.

Betty Botter Tongue Twister to Practice the B Sound

Betty Botter Tongue Twister to Practice the B Sound Tongue twisters are fun words games we use to challenge our pronunciation. As an English learner, you can use tongue twisters to help with pronunciation of certain consonant sounds in combination with a wide variety of vowels. In this tongue twister, Betty Botter, you can work on your bs. Use lots of breath to help you get the plosive b sound strong. Remember that b is voiced  - pronounced using the vocal chords by a strong explosion of air through the lips. Betty Botter Betty Botter had some butter,But, she said, this butters bitter.If I bake this bitter butter,it would make my batter bitter.But a bit of better butterthat would make my batter better. So she bought a bit of butter,better than her bitter butter,and she baked it in her batter,and the batter was not bitter.So twas better Betty Botterbought a bit of better butter. Listen to  Ã‚  Betty Botter  a number of times and then try it for yourself! Improving Your Pronunciation of B Better Botter helps you practice b. The b sound is voiced and is similar to the p sound which is voiceless. The difference between the two sounds is that the b uses the voice. Practice the difference in these sounds with minimal pairs - words that only have a difference between the b and p sound.   bob - popblob - plopbeg - pegpitch - bitchpeck - beck Feel the Sound Difference Place your hand on your throat and say bag and you will feel a vibration for both b and go. Place your hand on your throat and say pop and youll feel no vibration at all. To practice the difference, try the Peter Piper tongue twister below which focuses on the voiceless p.

Strategic Analysis of Proctor&Gamble Essay Example | Topics and Well Written Essays - 2250 words

Strategic Analysis of Proctor&Gamble - Essay Example The structure P&G adopted changed from a â€Å"Global Matrix† to a hybrid organizational structure. Roald Jean Degenalso termed it as â€Å"Front-Back Hybrid Matrix organization† structure. The structure focusses on two key areas in its operations; namely the customer markets designed on the front end and the end products designed on the back end. Therefore, it can combine both customer focus and responsiveness, and the global-scale economies together.P&G has four major divisions with each having a sub-division. These include Europe consisting of Middle East/Africa, Western Europe and Central Europe. North America has the United States/Puerto Rico and Canada. Latin America has Asia/Australia. Lastly, Greater China, with its headquarters at Singapore, has Northeast Asia, Australia and India/ASEAN.Baby care/family care, healthcare, snacks and beverage, beauty care /feminine care and fabric/homecare. The organization functions from an additional matrix across two parallel organizations. Key areas of focus here include finance and accounting, information technology, customer business developments, product supply, external relations, consumer and market knowledge, research and development, legal and human resources. There are unit managers charged with two responsibilities. These include looking after the product, as well as the other region. In this matrix structure, the power between different business units is balanced by reporting higher up in the hierarchy.

Analysis of Leadership Style and Behavior Essay

Analysis of Leadership Style and Behavior - Essay Example Bill Gates owns transformational leadership and employs the participative leadership style and behavior to convince his subordinate in the most appropriate way. Bill Gates uses its legitimate power to exercise his control over the management of the Microsoft. Table of Contents Content page Introduction 4 Background 4 Analysis of leadership style 4 Analysis of leadership behavior 5 Discussion: Transformative or Transactional leader 6 Discussion: Power sources 8 Legitimate power 8 Coercive power 9 Reward power 9 Information power 9 Expert power 9 Referent power 10 Conclusion 10 References 12 Introduction Transactional leadership provides incentives to followers to carry out certain actions; rewards and incentives are used to attract or motivate followers to carry out such activities. If Bill Gates had transactional leadership traits, it would have not been possible to convert a small innovation company into the empire of Microsoft Company, which has generated revenue of $ 69,943 m in t he fiscal year of 2011; the net income reaching the mark of $ 23, 150 m in the same year. Background Bill Gates was born on October 28, 1955 and grew up in Seattle with his father William H. Gates II who is a Seattle attorney (News Centre, 2012). Gates mother, Mary Gates was a school teacher in University of Washington regent and chairwoman of United Way International. Bill Gates received elementary school and the private Lakeside School. There, Bill Gates found his interest in software and commenced programming computers at the age of 13. Subsequent to that, in 1973, Gates entered Harvard University but he was unable to continue further his studies and after leaving Harvard, he utilized his energy and efforts to Microsoft, which began in 1975 with Paul Allen, a childhood friend of Bill Gates. Under the leadership of Bill Gates, Microsoft mission has been to continually improve software technology along with making it cost effective and more enjoyable for computer users. Leadership style and behavior Analysis Analysis of leadership style Transformational leadership occurs when individuals engage with each other in a way that the follower and the leader raise one another to higher status of motivation and morality. Effective transformational leaders may represent transactional behaviors or traits. But their leadership style also consists of one or more of the characteristics including inspirational motivation, intellectual stimulation, individualized consideration and idealized vision (Bass 1985). Participative and delegative leadership style is considerably adopted by Bill Gates. By employing both leadership styles, Bill Gates optimally uses his workforce. He wants them to provide their contribution and participation in the work. And at the same time, he expects them to develop a feeling that they are the significant part of the Microsoft. The advantages of this approach are that the employees would remain motivated and give their best efforts in order to ente rtain the work related goals and objectives. However, some critics contend that Bill Gates uses autocratic approach and prefers to attain his corporate objectives as wants to; Bill Gates adopts bureaucratic management style to achieve the commercial objectives (Management paradise, n.d.). Analysis of leadership behavior Transformational leadership supports behaviors attached with inspirational motivations (e.g., expressing a vision that followers find meaningful but challenging),

Sensory Perception Essay Example | Topics and Well Written Essays - 750 words

Sensory Perception - Essay Example With regards to my grandfather’s farm, I had only recently traveled back to this place within the past few months. As a child I had spent many a happy summer as well as interspersed individual weekends playing around the familiar sights that the farm had to offer. As such, the setting itself was one which provided me with a great many happy memories that were, and continue to be, seared on my memory. When I recently viewed the farm again, a virtual flood of memories came back to me. Many of these memories seemed as if they were happening at the exact moment or merely a few minutes prior to me seeing the old sights again. It was as if I was transported, via the sense of sight, to a different dimension in which time and the long absence from the farm that had intervened, meant little if anything as it all seemed so close and personal rather than removed and distant. The familiarity and the positive connotations of the sights doubtless had a lot to do with such an interpretation. Similarly, my old neighborhood has had a similar visual perceptional effect on me. Due to the different perspective that I had when I was younger, the sights themselves seemed as something a bit foreign. Everything was much smaller than it had been; some things seemed unnaturally out of place or entirely different. In this way, the sense of sight and my perception thereof were seemingly arguing with the memories that I had etched into my mind. This disjuncture between memory and reality was a unique aspect of my visual memory that I had never before experienced and was a unique and different feeling. Finally, with respect to my primary school and the effects that visual perception have had on me once I have been back to visit such a place, the perception of sight was one in this case that sought to bring forward a host of other emotional feelings and worries that were unique to that particular time of my life. For instance, as I walked the halls, I no longer felt the sense of insec urity or judgment that I had so strongly felt before. While my eyes acquainted themselves with the classrooms with the loved and hated teachers I had had, the level to which sight was providing an entirely alternate reality to me was something unique that I cannot quite describe yet I know precisely how it felt to experience. Each of these experiences has helped to inform the author with regards to the various memories, feelings, and emotions that exist within the context of the sights that have herein been represented. Due to the fact that each of the five senses is directly linked to strong memories within the brain, the exemplification of but a simple sight, sound, smell, or touch is enough to bring back a flood of memories to the individual within the given experience. As has been detailed, the thought process that takes place a a result of this perception is not one that is always voluntary; rather, something as simple as seeing an object or a group of objects that have long si nce been absent from the life of the viewer can begin something akin to a mental chain reaction that culminates in distinctive memory patterns and understandings of what things may have changed in life since the last time that such an object or group of objects was objectively

Fusion Power for Sustainable Development

Fusion Power for Sustainable Development Introduction Sustainable energy is about using energy wisely and using energy generated from clean sources and clean technologies. This approach is first step to ensuring we have sustainable energy and technologies for present and future generations. Being efficient with our energy will reduce our household and business energy bills, reduce the amount of energy we need to produce in the first place and cut energy related greenhouse pollution. Sustainable energy isn’t just about producing energy to meet the demands, it also means that the energy sources are clean and don’t have a detrimental on the environment. This essay will discuss in-depth how fusion power is the solution the energy crisis which is currently being faced around the world. Fusion is a very clean, green source of power which doesn’t have a detrimental impact in the environment. Nuclear fusion In nuclear physics, nuclear fusion is a nuclear reaction in which two or more atomic nuclei collide at a very high speed and join to form a new type of atomic nucleus. During this process, mass is not conserved because some of the mass of the fusing nuclei is converted to photons (energy). Fusion is also the process that provides Sun and all other stars with their energy; the process involves the collision of atomic nuclei to release energy. Currently scientists and engineers are developing the technology that it can be used in power stations to meet the energy demands that are currently being faced globally. It is hoped that fusion will provide us with the solution for the current energy crisis and provide a clean renewable source of power for future generations. How fusion works In a fusion reaction, energy is released when two light atomic nuclei are fused together to form one heavier atom. This is the process that provides the energy powering the Sun and other stars, where hydrogen nuclei are combined to form helium. To achieve high enough fusion reaction rates to make fusion useful as an energy source, the fuel (two types of hydrogen – deuterium and tritium) must be heated to temperatures over 100 million degrees Celsius. At these extremely high temperatures the fuel becomes plasma. What is plasma? Plasma is the fourth state of matter with the others being solid, liquid and gas. a plasma is an ionized gas, a gas into which sufficient energy is provided to free electrons from atoms or molecules and to allow both species, ions and electrons, to coexist. Plasma is a gas that has been energized to the point that some of the electrons break free from, but travel with, their nucleus. Gases can become plasmas in several ways, but all include pumping the gas with energy. A spark in a gas will create plasma. A hot gas passing through a big spark will turn the gas stream into a plasma that can be useful. Plasma torches like that are used in industry to cut metals. The plasma is also extremely thin and fragile, and is significantly less dense then air. To keep the plasma from being contaminated and cooled by contact with material surfaces it is contained in a magnetic confinement system. Magnetic confinement is the approach that Culham and many other laboratories are researching to provide energy from fusion. A plasma of light atomic nuclei is heated and confined in a circular bottle known as a tokamak, where it is controlled with strong magnetic fields. A magnetic fusion device, the maximum fusion power is achieved using deuterium and tritium. These fuse to produce helium and high-speed neutrons, releasing 17.6MeV (megaelectron volts) of energy per reaction. This is approximately 10,000,000 times more energy than is released in a typical chemical reaction. A commercial fusion power station will use the energy carried by the neutrons to generate electricity. The neutrons will be slowed down by a blanket of denser material surrounding the machine, and the heat this provides will be converted into steam to drive turbines and put power on to the grid. The Tokomak The tokamak is a magnetic confinement system and is a key component which is required for a fusion reaction to take place. Tokomak the base on which the fusion reactors of the future will be build around. It was first invented by the soviet union during the 1960s and it was soon adopted by scientists and engineers around the globe. The joint European Torus(JET ) , which is located at the Culham Centre for Fusion Energy, is the largest and most powerful set up which is currently in operation. tokamak components and functions are as follows: The plasma is contained in a vacuum vessel. The vacuum is maintained by external pumps. The plasma is created by letting in a small puff of gas, which is then heated by driving a current through it. The hot plasma is contained by a magnetic field which keeps it away from the machine walls. The combination of two sets of magnetic coils – known as toroidal and poloidal field coils – creates a field in both vertical and horizontal directions, acting as a magnetic ‘cage to hold and shape the plasma. Large power supplies are used to generate the magnetic fields and plasma currents. Plasma current is induced by a transformer, with the central magnetic coil acting as the primary winding and the plasma as the secondary winding. The heating provided by the plasma current (known as Ohmic heating) supplies up to a third of the 100 million degrees Celsius temperature required to make fusion occur. Additional plasma heating is provided by neutral beam injection. In this process, neutral hydrogen atoms are injected at high speed into the plasma, ionized and trapped by the magnetic field. As they are slowed down, they transfer their energy to the plasma and heat it. Radiofrequency heating is also used to heat the plasma. High-frequency oscillating currents are induced in the plasma by external coils or waveguides. The frequencies are chosen to match regions where the energy absorption is very high (resonances). In this way, large amounts of power may be transferred to the plasma. Why fusion Power is needed By 2050, it is expected that will be a rise in global population from six billion to nine billion and better living standards could lead to a two to threefold increase in energy consumption. At this point in time, 80% of the developed worlds energy comes from fossil fuels. The ever increasing dependency on fossil fuels for generating power has lead to things such as global warming and acid rain and other damaging effects on our health and on the world we live in. Achieving fusion power Fusion is expected to become a major part of the energy mix during the second half of this century because it is seen by so many as being the â€Å"silver bullet† to the l energy problems which is currently plaguing the world . With sufficient funding, the first fusion power plant could be operating in the 2040s. To achieve this, first a series of development steps need to be taken, which are set out in the European fusion roadmap, published in 2013. CCFE is working with its counterparts around Europe to implement this plan, which would see fusion power on the grid by 2050. ITER is the next major international fusion experiment and a crucial step towards achieving commercial fusion energy. It is expected to prove the feasibility of electricity generation from fusion by releasing in the region of 500 megawattsof fusion power (from a 50 megawattinput) for up to 500 seconds. It will be the first fusion experiment to produce net power – ten times more than the amount required to heat the plasma. Demonstration Once the scientific and engineering systems have been tested on ITER, the next stage will be to build a demonstration fusion power plant which will integrate the finding of the research . Designs are already advanced for this prototype machine, known as ‘DEMO. The demonstration is expected to produce in the region of two gig wattsof electrical power to the grid, a similar output to a standard electrical power plant, and could be online in the 2040s. If these trials are successful, it will lead to the first generation of commercial fusion power stations being put into commission. Advantages of fusion power The world needs new, cleaner ways to meet our ever increasing energy demand, as concerns grow over climate change and declining supplies of fossil fuels. Power stations using fusion would have a number of advantages: No carbon emissions. The only by-products of fusion reactions are small amounts of helium, which is an inert gas that will not add to atmospheric pollution. Abundant fuels. Deuterium can be extracted from water and tritium is produced from lithium, which is found in the earths crust. Fuel supplies will therefore last for millions of years. Energy efficiency. One kilogram of fusion fuel can provide the same amount of energy as 10 million kilograms of fossil fuel. No long-lived radioactive waste. Only plant components become radioactive and these will be safe to recycle or dispose of conventionally within 100 years. Safety. The small amounts of fuel used in fusion devices (about the weight of a postage stamp at any one time) means that a large-scale nuclear accident is not possible. Reliable power. Fusion power plants should provide a baseload supply of large amounts of electricity, at costs that are estimated to be broadly similar to other energy sources. Disadvantages of fusion power Unproven on a large commercial scale. No full scale production expected till at least 2050 The power plants would be expensive to build Requires extremely high temperatures. Could produce a net negative amount of energy If cold fusion could be achieved, it would be much easier to implement. The billions in research funding could be spent on renewables instead What is Cold Fusion? Cold fusion describes a form of energy generated when hydrogen interacts with various metals like nickel and palladium. Cold fusion is a field of condensed matter nuclear science CMNS, and is also called low-energy nuclear reactions LENR, lattice-assisted nuclear reactions LANR, nickel-hydrogen exothermic reactions Ni-H, and quantum fusion. The name cold fusion comes from the idea that the temperatures involved are relatively ( room temperature in some instances) low in comparison to those of a fusion reactor which are in excess of a few thousand degrees. Cold fusion gained attention after reports in 1989 by Stanley Pons and Martin Fleischmann, at the time one of worlds leading electrochemists,[1] that their apparatus had produced excess heat, of a magnitude they asserted would defy explanation except in terms of nuclear processes. They further reported measuring small amounts of nuclear reaction byproducts, including neutrons and tritium.[2] The small tabletop experiment involved electrolysis of heavy water on the surface of a palladium (Pd) electrode. The reported results received wide media attention,[3] and raised hopes of a cheap and abundant source of energy.[4] Many scientists tried to replicate the experiment with the few details available. Hopes fell with the large number of negative replications, the withdrawal of many positive replications, the discovery of flaws and sources of experimental error in the original experiment, and finally the discovery that Fleischmann and Pons had not actually detected nuclear reaction byproducts. In 1989, a review panel organized by the United States Department of Energy (DOE) found that the evidence for the discovery of a new nuclear process was not persuasive enough to start a special program, but was sympathetic toward modest support for experiments within thke present funding system. Pons and Fleischmann, skipped the typical route of publishing their study and results in a peer-reviewed science journal because of the pressure they were under from the university of Utah to secure a patent for this potential cash cow which could bring the university a significant amount media attention and flame for the Pons and Fleischmann, instead they take it directly to the press and public. Because they decided to take a unconvential root as to how they published their finding that lead others to question how authentic the information they were being given was. When many scientists from around the world tried to replicate the results from Pons’ without any success and questions began to be asked about the accuracy of the data which they had collected from their cold fusion experiment and this is what ultimately lead to their downfall. Recent developments in cold fusion Andrea Rossi a Italian scientist has said to have created a device called Energy Catalyser (E-cat for short) , is said to be a device â€Å"which purports to use cold fusion to generate vast amounts of power has been verified by a panel of independent scientists†. The research paper, which hasn’t gone through undergone peer review as of yet, seems to confirm both the existence of cold fusion, and its potency: The cold fusion device being tested has roughly 10,000 times the energy density and 1,000 times the power density of gasoline.

Essay --

Supply chain visibility, a term that like two sides of coin brings with it potential for tremendously improved supply chain performance on one side and a level of vagueness & uncertainty on other side. The concept of supply chain visibility in late 1990’s and is still new to many organizations. Art Mesher, then an analyst at Gartner gave the concept of â€Å"The 3V’s of supply chain†. The 3 V’s of supply chain stands for velocity, variability and visibility. Corporates and companies have worked upon the velocity and variability of supply chain but still have very little understanding of visibility. Visibility not only means on-shelf inventory but also means inventory piled up at all levels of supply chain including in transit inventory and inventory piled up across company’s network. Visibility allows concerned people in supply chain to forecast problems before they occur and taken necessary steps to avoid expense in the real time. Two drivers of this savings through visibility come from PO lifecycle and ASN (Advanced Shipped Notice, Inventory) accuracy. Figure Source: Supply Chain Digest Letter, April 2012 Supply Chain Visibility Vectors – A case of Reliance Fresh Visibility vectors are basically the factors that affect the visibility of products and services across various layers of organization’s network. We will take the case of Reliance fresh stores as example for better understanding of supply chain vectors. There can be seven major vectors which are as follows:- (a) Demand Management (b) Supply Management (c) International Sourcing (d) Domestic Sourcing (e) Inventory (f) Distribution and Logistics (g) Risk Management Demand Management Proper demand management with proper demand forecasting based on ... ...here are different logistics partners even within the same cities. It makes difficult to estimate the in transit inventory. There is no sharing of data between logistics partners which makes demand and supply estimation more difficult. Earlier Reliance had a dedicated Reliance Logistics as their logistics partner but it could not survive for long. There should be uniform dedicated logistics partner at least on city level as it will increase the response time and information can easily be shared about the demand and supply. Risk Management Constant review of risk management and mitigation plan both at strategic and tactical level should be done depending upon the degree of risk involved in the business and the nature of the product. Based on the above mentioned secondary research, the following supply chain visibility matrix for Reliance Fresh has been suggested.

Regent Park

Chapter 7 Essay Q’s 1. ABC Corporation, a Canadian firm, wants to float a bond issue in the United Kingdom. Which choices does the company have? Discuss the main characteristics of each option. What do you recommend? Answer: ABC Corporation can issue foreign bonds (Bulldogs) or Eurobonds. Foreign bonds are bonds issued by a foreign borrower in a national market, in the national currency, and subject to the national securities regulations. Eurobonds are bonds sold in countries other the country that issued the denominating currency.Foreign bonds tend to be registered bonds and subject to the local regulations while Eurobonds tend to be bearer bonds. Generally, foreign bonds are more costly than Eurobonds. Therefore, Eurobonds are likely the better option. page: 157-158 2. A- Canada Inc. has issued a dual-currency bond that pays $555. 10 at maturity per SF1,000 of par value. The company’s cash flows are exclusively in Canadian dollars. a) What is the implicit $/SF exchang e rate at maturity? b) Will the company be better or worse off if the actual exchange rate at maturity is $0. 6123/SF? Answer: a) $555. 10/SF 1,000 = $ 0. 5551 b) The company will be better off.Page: 175, problem 3 3. ZZZ Corp. wants to issue zero-coupon bonds with a 10-year maturity. The implied yield to maturity on these bonds is 5% and ZZZ Corp. wants to raise $10,000,000. (Assume no transaction costs). How much money will ZZZ Corp. have to pay at maturity of the bond? Answer: 10,000,000 (1. 05)10 = $16,288,946. 27 4. Assume Bank of Montreal has two zero-coupon bonds outstanding, each for a face value $100,000,000. Bond A matures in 10 years and sells at a discount of 35% off face value and bond B matures in 20 years and sells at a discount of 60% off face value. Calculate the implied yield to maturity of each bond.Answer: Bond A: 650,000,000(1 + i)10 = 100,000,000 i = 4. 4% Bond B: 400,000,000(1 + i)20 = 100,000,000 i = 4. 67% 5. What happens to the present value of the bonds in 4. , if the implied yield to maturity increases by 1%? Answer: Bond A: 100,000,000/(1. 054)10 = 59,100,872. 35 The present value of the bond decreases by 65,000,000 59,100,872. 35 = 5,899,127. 65 Bond B: 100,000,000/(1. 0567)20 = 33,186,836. 18 The present value of the bond decreases by 40,000,000 33,186,836. 18 = 6,813,163. 82 Chapter 8 [Question] 1. Assume that Nestle shares are trading at SF 300 in Zurich and $ 51 in New York. Each share equals 4 ADRs.The current exchange rate is SF1. 5/$. In the absence of transaction costs, can you make an arbitrage profit? Answer: Yes. Buy one share in Zurich for SF 300 or $ 200 (300/1. 5), exchange to ADRs and sell the ADRs for 4*51 = $204; profit $4 [Question] 2. Assume that Nestle shares are trading at SF 300 in Zurich and $ 51 in New York. Each share equals 4 ADRs. The current exchange rate is SF1. 5/$. If transaction costs are $1 per ADR, can you make an arbitrage profit? Answer: No, transaction costs = potential profit Potential profit in the absence of transaction costs: Buy one share in Zurich for SF 300 or $ 200 (300/1. ), exchange to ADRs and sell the ADRs for 4*51 = $204; profit $4 [Question] 3. What factors go into the decision to cross-list on a foreign exchange? Answer: When deciding whether to cross-list shares on a foreign exchange, the firm has to consider the expected benefits and costs. The benefits may be: to establish a broader investor base for its stock, to establish name recognition in foreign capital markets, thus paving the way for the firm to source new equity and debt capital from investors in different markets, and to expose the firm’s name to a broader investor and consumer groups.The costs include: listing fees, reconciliation of the accounting standards of two countries, compliance with the regulations of the foreign exchange, and investor relations. page: 187. [Question] 4. Assume that Accor shares are trading at A$2. 5 in Sydney and $28 in New York. Each ADR equals 20 shares. The current exchange rate is A$1. 5/$. In the absence of transaction costs, can you make an arbitrage profit? Answer: Yes. Buy one ADR in New York for $28 (or A$42), exchange to shares and sell the shares for A$50; profit A$8 [Question] 5. Assume that Accor shares are trading at A$2. 5 in Sydney and $28 in New York.Each ADR equals 20 shares. The current exchange rate is A$1. 5/$. At what transaction cost per share would there be no profit opportunity? Answer: A$8/20 = A$0. 4 Buy one ADR in New York for $28 (or A$42), exchange to shares and sell the shares for A$50; profit A$8 less transaction cost of 20*. 4 = A$8; profit = 0 Chapter 9 – I don’t believe there will be anything from here tho Chapter 10 [Question] 1. The following information is given: Both parties want to engage in an interest rate swap. Assume that S Bank will arrange for an interest rate swap between X Company and Y Company for 0. % . Also, assume that X Company gets 2/3 of the interest savings available. a) Which company has a better credit rating? b) What is the quality spread differential? c) What is X Company’s preferred type of debt? What rate of interest does it pay on this debt after the swap? d) What is Y Company’s preferred type of debt? What rate of interest does it pay on this debt after the swap? e) Illustrate the cash flows from this swap. Assume that X Company pays LIBOR to S Bank. Answer: a) X Company b) QSD = 2 1. 3 = 0. 7 c) Floating LIBOR . 4 d) Fixed 6. 8% e) [Question] 2.The following information is given. ABC Inc. and XYZ Inc. have agreed to swap their debt payments so that each firm gets its preferred debt terms. They can arrange an interest rate swap through Big Bank. Big bank charges 0. 15% for its services. The remaining savings from the interest rate swap are equally shared by A and B. QSD: 1% . 25% = . 75%; after bank fees: . 75% . 15% = . 60% savings available a) Does ABC Inc. prefer fixed or floating rate debt? What rate does it pay on its p referred debt? b) Does XYZ Inc. prefer fixed or floating rate debt? What rate does it pay on its preferred debt? ) What are the total interest savings available in this interest rate swap? d) Which company has a better credit rating? Answer: a) ABC Inc. prefers floating and pays LIBOR + . 2 b) Interest Savings: 0. 6%. QSD bank fees = (6 5) (LIBOR + . 75 LIBOR + 0. 50) 0. 15 c) XYZ Inc. prefers fixed and pays 5. 7% d) Company ABC has a better credit rating [Question] 3. The following information is given. Boeing and Airbus have agreed to swap their debt payments so that each firm gets its preferred debt terms. Each firm will save the same amount in percentage terms. ) Does Boeing prefer fixed or floating rate debt? What rate does it pay on its preferred debt? b) Does Airbus prefer fixed or floating rate debt? What rate does it pay on its preferred debt? c) What are the total interest savings available in this interest rate swap? d) Which company has the advantage in fixed rate debt? Answer: a) Boeing prefers floating and pays LIBOR + 0. 05%. b) Airbus prefers fixed and pays 5. 5%. c) Interest Savings 0. 4%. d) Boeing has the advantage in fixed dollar debt. [Question] 4. ABC Corporation has entered into a 10-year interest rate swap with a swap bank. ABC Corp. ays the swap bank a fixed-rate of 6 percent annually on a notional amount of EUR100,000,000 and receives LIBOR – ? percent. What is the price of the swap on the seventh reset date, assuming that the fixed-rate at which ABC can borrow has decreased to 5%. Answer: PV of a hypothetical bond issue of EUR100,000,000 with three remaining 6 percent coupon payments at the new fixed rate of 5 percent is EUR100,000,000/1. 1576 = EUR86,385,625. 54 PV of the three coupon payments is: (6,000,000/1. 05) + (6,000,000/1. 1025) + (6,000,000/1. 1576) = EUR 16,339,488. 18 PV of the Bond and its coupon is = 102,725,113. 1 Therefore, the price of the swap = 100,000,000 102,725,113. 61 = 2,725,113. 61 [Question] 5. Canada Corporation enters into a 2-year interest rate swap with Bank A in which it agrees to pay the swap bank a fixed-rate of 5 percent annually on a notional amount of US$1,000,000 and receive LIBOR – 1 percent. Determine the price of the swap on the first reset date, assuming that the fixed-rate at which Canada Corporation can borrow has stayed unchanged. Answer: PV of a hypothetical bond issue of US$ 1,000,000 with one remaining 5 percent coupon payments at the fixed rate of 5 percent is US$1,000,000Therefore, the price of the swap = 1,000,000 1,000,000 = 0 Chapter 11 [Question] 1. A US investor bought shares in ABC Inc. on the Frankfurt Stock Exchange 2 years ago for EUR 10,000. The exchange rate at that time was EUR 1. 20/USD. Currently, the shares are worth EUR 11,000 and the exchange rate is EUR 0. 80/$. Calculate the investor’s annual percentage rate of return in terms of the U. S. dollars. Answer: The annual percentage rate of return is: 28. 45%. 2-year rate of ret urn = (11,000/0. 8 10,000/1. 2)/(10,000/1. 2) = 0. 65 (1 + r)2 = 1. 65 r = 0. 2845 [Question] 2. A US investor bought shares in ABC Inc. n the Frankfurt Stock Exchange 2 years ago for EUR 10,000. The exchange rate at that time was EUR 1. 20/USD. Currently, the shares are worth EUR 11,000 and the exchange rate is EUR 0. 80/$. The investor had sold EUR 10,000 (the principal investment amount at the same time that the stock was purchased) forward at the forward exchange rate of EUR 1. 15/$. What is the dollar rate of return? Assume that the unhedged portion of the investment is exchanged at the current exchange rate. Answer: The annual dollar rate of return is 9. 25%. 2-year rate of return = (10,000/1. 15 + 1,000/0. 8 10,000/1. )/(10,000/1. 2) = 0. 1935 (1 + r)2 = 1. 1935 r = 0. 0925 [Question] 3. In May 2003 when the exchange rate was Yen 110/$, Nissan Motor Company invested ? 1,100,000,000 in pure-discount U. S. bonds and liquidated the investment one year later when the exchange rat e was Yen 105/$. The Yen rate of return earned on this investment was 10%. a) Calculate the dollar amount that the bonds were sold at. b) Calculate the dollar rate of return of this investment. Answer: a) The dollar amount that the bonds were sold at is: $11,523,809. 0. 1 = (X*105 1,100,000,000)/1 ,100,000,000) b) The dollar rate of return is:15. 4%. (11,523,809 10,000,000)/10,000,000 = . 1524 [Question] 4. A Canadian investor buys shares in DaimlerChrysler on the New York Stock Exchange when the stock’s price and the exchange rate were US$ 40 and US$0. 70/C$ respectively. One year later the investor sells the shares for US$ 41 and the exchange rate is US$0. 80/$. a) Calculate the investor’s annual percentage rate of return in terms of the U. S. dollars. b) Calculate the investor’s annual percentage rate of return in Canadian dollars. Answer: a) Rate of return: (41 40)/40*100 = 2. 5% b) Purchase price in Canadian dollars = 40/. 70 = 57. 4 Selling price in Canadi an dollars = 41/. 80 = 51. 25 Therefore, the Canadian dollar rate of return is: R(C$) = [(51. 25 57. 14)/51. 25] 100 = 10. 313% Chapter 12 1. How can operating exposure be managed? Answer: The object of managing operating exposure is to stabilize cash flows when exchange rates are fluctuating. There are a number of ways in which operating exposure can be managed: (1) selecting low cost production sites (2) using a flexible sourcing policy (3) diversification of the market (4) product differentiation and R&D efforts (5) financial hedging page: 302-304 [Question] 2.Banff Inc. is headquartered in Calgary and produces high-end living room furniture. The firm has a subsidiary in Germany. The wooden frames of the sofas are made in Calgary by an independent contractor and then shipped to Germany. The German subsidiary then upholsters the sofas using Belgium fabrics. Each frame costs the subsidiary C$1,500. The materials and labour for the upholstery amount to euro 2,000 per sofa. Fixed ove rhead costs are euro 1,500,000 for the subsidiary. Banff Inc. expects to be able to sell 3,000 Sofas for 5,000 euros each. The firm can depreciate 1,000,000 euros per year.The German income tax rate is 40%. The current exchange rate is C$1. 5/euro. How would the operating cash flows (expressed in Canadian dollars) change if the exchange rate is C$1. 6/euro, all else equal? Answer: The operating income would increase by C$340,000. [Question] 3. Banff Inc. is headquartered in Calgary and produces high-end living room furniture. The firm has a subsidiary in Germany. The wooden frames of the sofas are made in Calgary by an independent contractor and then shipped to Germany. The German subsidiary then upholsters the sofas using Belgium fabrics.Each frame costs the subsidiary C$1,500. The materials and labour for the upholstery amount to euro 2,000 per sofa. Fixed overhead costs are euro 1,500,000 for the subsidiary. Banff Inc. expects to be able to sell 3,000 Sofas for 5,000 euros each. The firm can depreciate 1,000,000 euros per year. The German income tax rate is 40%. The current exchange rate is C$1. 5/euro. How would the operating cash flows (expressed in Canadian dollars) change if the exchange rate is C$1. 4/euro, all else equal? Answer: The operating income would decrease by C$ 340,000. [Question] 4. Banff Inc. s headquartered in Calgary and produces high-end living room furniture. The firm has a subsidiary in Germany. The wooden frames of the sofas are made in Calgary by an independent contractor and then shipped to Germany. The German subsidiary then upholsters the sofas using Belgium fabrics. Each frame costs the subsidiary C$1,500. The materials and labour for the upholstery amount to euro 2,000 per sofa. Fixed overhead costs are euro 1,500,000 for the subsidiary. Banff Inc. expects to be able to sell 3,000 Sofas for 5,000 euros each. The firm can depreciate 1,000,000 euros per year.The German income tax rate is 40%. The current exchange rate is C$1. 5/e uro. How would the operating cash flows (expressed in Canadian dollars) change if the exchange rate is C$1. 4/euro, the German inflation rate is 3% but the firm will not be able to raise the price for its products and due to new competition from the Russian market (with a more favorable exchange rate) unit sales drop to 2,500? Answer: The operating income would decrease by C$ 1,276,000. [Question] 5. ABC Inc. , a Canadian paper manufacturer, has a subsidiary in the United States which sources its wood from Canada.The US dollar depreciates rapidly. Discuss the likely competitive and conversion effects of the depreciation of the US dollar. Answer: The depreciation of the US dollar may alter the firm’s competitive position in the US market place. First of all, the input costs of the subsidiary in terms of US dollars are increasing. If the competitors source their raw materials in the United States, the competitive position of ABC Inc. ’s subsidiary will be eroded. The con version effect implies in this case that the US dollar operating cash flows will be translated into a lower Canadian dollar value. page: 297-298Chapter 13 1. Sonnenschein A. G. , a German retailer of solar panels just bought panels for US $ 100,000 to be paid in 120 days. As the financial manager, you are responsible for making a recommendation on the best hedging choice available to Sonnenschein A. G. You check with your banker and find out the following: The spot bid and ask rates are USD 1. 1001/EUR and USD 1. 0953/EUR respectively and the 120-day forward rates are EUR 0. 8850/USD and EUR 0. 8950/USD. Determine the net payables if Sonnenschein uses a forward hedge to manage its payables. Answer: US$ 100,000*0. 8950 = EUR 89,500 Question] 2. Pile-of-Bones Inc. , headquartered in Regina, just bought snowblowers for US $ 100,000 to be paid in 90 days. As the financial manager, you are responsible for making a recommendation on the best hedging choice available to Pile-of-Bones Inc. You check with your banker and find out the following: The current spot rate is C$ 1. 35/US$ and the 90-day forward rate is C$1. 36/US$. The interest rates are 5% in the United States and 6% in Canada. a) What are the net payables if Pile-of-Bones uses a forward hedge? b) What are the net payables if Pile-of-Bones uses a money market hedge? ) Which type of hedge should Pile-of-Bones use? Answer: a) 100,000*1. 36 = 136,000 b) 100,000/(1 + . 05/4) = 98,765. 43 98,765. 43*1. 35 = 133,333. 33 133,333. 33*(1 + . 025) = 136,666. 67 c) Pile-of-Bones should use forward hedge. [Question] 3. Soleil Inc. , a French manufacturer of sunscreen, has agreed to sell sunscreen to a Danish retailer for 2 million Danish kroner to be received in 180 days. The current spot rate is DKR5. 02/EUR and the 180-day forward rate is DKR5. 23/EUR. The current interest rates are 5% in Denmark and 4% in France. Should the firm use a forward hedge or a money market hedge?Explain. Answer: The net proceeds from a forw ard hedge are: 2,000,000/5. 23 = 382,409. 17 The net proceeds from a money market hedge are: 2,000,000/(1. 05) = 1,903,761. 90 1,903,761. 90/5. 02 = 379,434. 64 379,434. 64*1. 04 = EUR394,612. 02 Since the net proceeds from the money market hedge are higher than from a forward market hedge, Soleil should use the money market hedge. [Question] 4. Quebec Inc. , manufactures prefabricated houses in Quebec and sells them all over the world in local currencies. The firm has just received an order from China for renminbi 8,280,000 to be paid at delivery in 1 year.The Chinese renminbi is pegged to the US dollar at an exchange rate of 8. 28 per dollar. Does Quebec Inc have a transaction exposure? Explain. Answer: Quebec Inc is exposed to exchange rate risk. First of all, the Chinese government may choose to change the exchange rate at which the renminbi is pegged or drop the peg altogether within the next year. Even if the government does not intervene, Quebec Inc. is exposed to the US doll ar-Canadian dollar exchange rate since the renminbi is pegged to the US Dollar and not the Canadian dollar. [Question] 5. Fashion Shoes Inc. anufactures its shoes in Milano, Italy. The company just received an order from the United States for USD 1 million to be received in one year. The current spot rate is EUR 1 /USD and the 1 year forward rate is EUR 1. 01/USD. The current interest rates are 4% in the United States and 5% in Italy. A call option on the US dollar is available with a strike price of EUR 1. 01/USD and a premium of EUR 0. 03 and a put option is available with a strike price of EUR 1/USD and a premium of EUR 0. 025/USD. Determine the net proceeds from a forward hedge and an options hedge. Which option should Fashion Shoes use?Answer: Forward hedge: USD 1,000,000*1. 01 = EUR 1,010,000 Option hedge: Use the put option on the USD. Net proceeds from the options hedge: Strike price: USD 1,000,000*1 = EUR 1,000,000 Less premium in year 1 euros: 1,000,000*0. 025(1 + . 05) = 26,250 net proceeds: 1,000,000 26,250 = 973,750. The choice of the hedging strategy depends on exchange rate expectations. The option will provide a minimum of EUR 973,750 but if the dollar strengthens (i. e. the spot rate in one year is greater than EUR1. 03625/USD) the option will provide higher cash flows than the forward hedge.