Cost-benefit analysis of the ban on drugs in netherlands Essay

Money saving advantage examination of the prohibition on drugs in netherlands - Essay Example Money saving advantage examination of the prohibition on drugs in netherlands The case under investigation will consider the utilization of money saving advantage examination as one of the monetary way to deal with testing the cost that the general public will cause on the off chance that they settle on both of the referenced arrangements (Cleveland, 2008, p. 563). On the opposite side of the coin, the advantage that every one of the two alternatives will accumulate will likewise be estimated, and the further orderly test method qualifies one to be received. Monetary arrangements over the world have been impacted by both political and social variables. It is important that the general government assistance of individuals is given need. In any financial thought in the general public, basic investigation should be done to discover its advantage or misfortune to the individuals. Different ideas are relevant in this regard yet their utilizations likewise rely upon the idea of financial factors under inquiry (Chris and Wilhite 2004, pp. 108-9). Money saving advanta ge examination is a financial idea that has a wide use. In venture examination it is one of the suggested strategies for testing the feasibility of a task. . It is a twofold looked top to bottom examination of the different cost that would be brought about in making a given venture strategy and contrasting and the advantage that would be acquired from effectively attempted the task under inquiry. Its application isn't just constrained to financial activities yet in addition covers the political choices that are pegged on monetary outcomes. A model incorporates choices by the legislature to present a given rule that will manage a given conduct of a particular gathering of individuals. In such manner, the Netherlands is confronted with an arrangement situation of whether to authorize the previously mentioned drugs or to put a boycott. A portion of the difficulties that it faces are the issue of a high inundation of voyagers who represent a danger to the law directing the utilization o f these medications (Miron and Zwiebel, 2005, pp.67-8). It is, subsequently, essential to draw a money saving advantage model that would check what direction is the best to go. Social expense of preclusion will in general be higher as it triggers different socials ills in the general public, which means retrogressive financial course of the nation. On the opposite side, authorization accompanies a few expenses of detailing and fitting the lawful arrangement over the different gatherings of individuals that incorporate residents and outsiders without making any negative effect on the strategic relations with different states and the travel industry division (Miron, 2001, p. 851). In assessing the expenses, there is a breakdown of different unmistakable and immaterial expenses, and this is a trait of the legitimate recommendations that the Dutch specialists are attempting to put over. Advantages as far as financial approach likewise have a wide use and summarize all the positive commi tments of a given thought which incorporates decrease of negative variables. In applying the idea of money saving advantage examination on account of this nation, we are essentially expecting that the cost has a negative sign while the advantages have positive signs. At the point when the two are summarized, a positive sign is regarded adequate; the negative outcome, then again, is viewed as a weight while zero may imply that different components are mulled over. According to the instance of forcing a restriction on the medications, a ton of social expenses are prominent (Chris and Wilhite, 2004, p. 114; Cleveland, 2008, p. 577). One of them is the

The Weather and Folklore of Altocumulus Clouds

The Weather and Folklore of Altocumulus Clouds An altocumulus cloud is a center level cloud that lives between 6,500 to 20,00 feet over the ground and is made of water. Its name originates from the Latin Altus meaning high Cumulus importance piled. Altocumulus mists are of the stratocumuliform cloud family (physical structure) and are one of the 10 essential cloud types. There are four types of cloud underneath the altocumulus sort: altocumulus lenticularis (fixed focal point molded mists that are frequently confused with UFOs)altocumulus castellanus (altocumulus with tower-like sproutings that surge upwards)altocumulus stratiformis (altocumulus in sheets or generally level patches)altocumulus floccus (altocumulus with dissipated tufts and fringy lower parts) The shortened form for altocumulus mists is (Ac). Cotton Balls in the Sky Altocumulus are usually observed on warm spring and summer mornings. Theyre probably the least complex mists to distinguish, particularly since they look like wads of cotton stuck into the blue foundation of the sky. Theyre regularly white or dark in shading and are masterminded in patches of wavy, adjusted masses or rolls. Altocumulus mists are frequently called sheepback or mackerel sky since they look like the fleece of sheep and sizes of mackerel fish. Bellwethers of Bad Weather Altocumulus mists that show up on an unmistakable damp morning can demonstrate the improvement of rainstorms later in the day. That is on the grounds that altocumulus mists regularly go before chilly fronts of low-pressure frameworks. All things considered, they likewise once in a while signal the beginning of cooler temperatures. While they are not mists from which precipitation falls, their essence signals convection and flimsiness at mid-levels of the troposphere. Altocumulus in Weather Folklore Mackerel sky, mackerel sky. Never long wet and never long dry.Mackerel scales and female horses tails make elevated boats convey low sails. On the off chance that youre an aficionado of climate legends, youve likely heard the above colloquialisms, the two of which are valid. The primary bit of legend cautions that if altocumulus mists are seen and pneumatic force starts to fall, the climate wont be dry for any longer since it might begin pouring inside 6 hours time. In any case, when the downpour comes, it wont be wet for long in light of the fact that as the warm front passes, so too will the precipitation. The subsequent rhyme cautions boats to lower and take in their sails for a similar explanation; a tempest might be drawing nearer soon and the sails ought to be brought down to shield them from the going with high breezes.

On MIT and Humanities

On MIT and Humanities Over this past weekend, many prefroshies asked me a very interesting question and I believe that this warrants a more drawn-out response from me. I hope the rest of you will similarly find this useful. MIT is just too nerdy. I question whether I would even be able to find a balanced humanities and science education at MIT. First off, here are a few things that you should really ask yourself about MIT, just to begin with: 1. Do you like science? 11. Do you want MIT to completely change the way you think about and look at science? 21. Even if you dont want to major in science, do you think you will be able to complete the core sequence of 2 semesters of calculus, 2 semesters of physics, 1 semester of chemistry, 1 semester of biology, 2 electives in science, and 1 lab course? 1211. Do you enjoy the culture? Is MIT somewhere you can see yourself being at for the next 4 years? If the answers to all of the above is yes! then youre ready to move on Again, I hate doing the been there-done that talk (really!), but I really have no better way to begin this so here goes: I love the humanities. If you havent noticed already. My favorite class by far in high school was AP English Literature. When our Lit teacher first dissected The Four Quartets for us that warm sunny day in March of my senior year, my view towards English Literature changed forever. I kept the Norton anthology that we used as a textbook in the class, and its been a regular favorite on my shelf at MIT ever since. Equally, my other true love is History. AP US History was not enough to quench my insatiable thirst for history I did AP Euro History and AP World History via self-study and proceeded to get 5s in all three subjects. For a long time, I flirted with the idea of majoring in History at some really liberal-artsy college, although I eventually came to the decision that if history was a real passion for me, Ill always be able to do it on the side, as a complement to my life (aka. I dont have to actually major in it in college). Given all of this, I turned down offers to Brown, Columbia (Davis Scholar), and Stanford (all having perceived better humanities programs than MIT does), when decision time came. Many people have asked me why afterwards and whether I seriously thought that MIT was the best choice for me (they love to say, disdainfully, isnt MIT a school for nerds?). Heres what I think: 111221. MIT has a small humanities program, but what we have are excellent. 312211. When you say a school is good in the humanities, you still cant take every single class that the school offers. (lets face it as great as Harvard is, you cant possibly take 1,000+ of their stellar humanities classes in 8 semesters. youll still have to pick and choose) 13112221. Following from what was pointed out in number 312211 above MIT has more than enough awesome humanities classes for you to easily fill up your eight semesters here. 1113213211. If you still think thats not enough cross-reg at Harvard! I think it all comes down to whether you want to be the big fish in the small pond, or the small fish in the big pond. I think its fair to say and I dont think anyone can deny that MIT does have a higher proportion of science freaks and people who rather not see another literary analysis prompt for the rest of their life compared to most leading universities that are not engineering and science-focused. However, if you think about it in the other direction being a great humanities student here just means that you have more room to shine and stand out amongst your peers. For example, you can opt to apply to become a Burchard Scholar (which Paul and I both are). The Burchard Scholars program identifies a group of students strongly interested in the humanities and connects them with the humanities faculty and visiting scholars and speakers for speaker dinner series and other events. For example, one of the best parts so far was meeting Yo-Yo Ma when he came to Boston in an outing organized by the Burchard Scholars program (we got a free ticket to his show at Symphony Hall too! and psst, hes in one of the photos on that blog I linked to if you cant find him). For example, the Department of Foreign Languages and Literatures (21F! my favorite department here 3) awards outstanding students in the study of foreign language through their annual awards. Many opportunities via the MISTI international internship program are also possible if you demonstrate competence in a foreign language. For example, the Department of Literature (21L) offers an exciting series of literature classes that are generally only a dozen students in size, providing great interaction between professors and students for knowledge exchange, relationship building, and lets face it recommendation letters. 21L also receives some of the highest course evaluation scores at MIT, if youre curious. (for the record, 21F receives the highest course evaluation scores, teehee) Not enough awesome yet? Junot Diaz teaches two writing courses at MIT, MIT has a vibrant Arts community, and the list just goes on and on.. Sure, we make jokes about science and math all the time and our professors have a propensity to fill the blackboard completely with unintelligible Greek symbols during math class but you can still find a strong humanities community here if you just look for it and chase after your passions. This said, I want to point out some other reasons why I feel like if you are a strong humanities student, it may even be better for you to come to MIT rather than another traditional humanities school. 31131211131221. MIT will completely revamp the way that you think about science. On the eve of nearly being halfway through my MIT career, I realized that quietly and slowly one problem set at a time MIT has changed the way that I perceive science. Back in high school, I used to get by by memorizing patterns, tricks, and shortcuts to pass all my exams and assignments. However, MIT has taught me that I cant rely on these things forever. If you were doing original research in cancer which no one has done before and in which there are no established answers, then what do you do in that case? MIT trains us to be problem solvers and independent thinkers. This is why they hit us with insanely difficult psets this is why they give us exams in which we feel like we always have no time to finish this is why our science courses go nearly 2x or 3x faster than state colleges and many Ivies.* (*independently verified by the author) MIT wants to instill in us the confidence that after we leave the Institvte, we would be able to tackle whatever problems come our way, either through our own ability or with help from teammates. Being a good humanities student, youre getting an education which would make you stand out from your other literary peers a rigorous scientific mindset and a keen eye for patterns, observations, and drawing conclusions. 13211311123113112211. Research opportunities. Word. I feel like this is something that I can never emphasize enough the awesomeness of MIT UROP (Undergraduate Research Opportunities Program). At MIT, you have the opportunity to do original research in almost any field conceivable here with amazing faculty and staff who are the vanguards in their respective fields. Whats even more amazing that a sizable number of these labs are willing to take on people with little-to-none experience and take the time to train you to become a valuable intern! When a friend that I know at UPenn is struggling really hard to even get a basic research position in a biology lab there, this kind of access to research jobs at MIT is almost unbelievable. For me, I started out in a C. elegans lab with absolutely zero biology lab experience aside from looking at pretty slides and dissecting rats in AP Bio. I worked there for six months, learning the valuable ins-and-outs of basic bio research like setting up a PCR, running a gel, and purifying DNA. On the side, I learned a ton about the genetics of C. elegans, an organism I didnt even know existed before coming to MIT. Six months later, satisfied with my experience, I embarked on finding another UROP this time in Anthropology (21A). Having taken NO classes in my life whatsoever in Anthopology, I began researching the state of indigenous rights in Nicaragua, which would culminate into a report sent to the United Nations Human Rights Council. This is more like an UROP that I just picked up for fun this semester and a one-shot-deal, but it just goes to show how willing professors are in letting undergrads work side-by-side with them. :) Since coming to MIT, Ive channeled my love of history by teaching a 6-week AP World History course to eight high school kids through the ESP Junction program last summer. My kids went on to score 770s and 800s on their SAT World History exams and many of them are anticipating a really good score in the upcoming AP exams next month. :) Ive explored diverse subjects across the Architecture, Economics, Political Science, Writing, and Foreign Language departments. Im part of the MIT Model United Nations team (serving as the 09-10 president for the group) again, a very humanities activity, you probably would agree. I just got accepted to an US-Japan Student Conference where selected American university students meet with similarly selected Japanese counterparts to discuss many global social, environmental, and political topics in Japan this summer. Ive strengthened my Japanese and Spanish ability, leading to two utterly phenomenal IAPs in those aforementioned countries. and Im still enjoying every moment of my humanities education at MIT. Honest. :) ps. I owe you all a giant photo blog soon =p

Biography on Charles Dickens - 627 Words

This greatest of Victorian writers was born in Landport, Portsmouth, on February 7, 1812. His father John worked as a clerk in the Navy Payroll Office in Portsmouth. The elder Dickens was transfered several times, first to London, then to Chatham, and finally, in 1822, back to London, where the family lived in Camden Town. John Dickens was constantly in debt, and in 1824 he was imprisoned in Marshalsea debtors prison (Southwark). Charles was forced to leave school at the age of 12 and go to work in a bootblack factory to help support the Dickens family.It was his personal experience of factory work and the living conditions of the poor that created in Dickens the compassion which was to mark his literary works such as Oliver Twist. Dickens was released from the purgatory of Warrens Blacking Factory when his father received a legacy from a relative, and could finally pay his debts and be set free from Marshalsea. Charles went to Wellington House Academy for two years, then took work at Grays Inn as a clerk. Dickens worked as a Parliamentary reporter before finally moving on to The Morning Chronicle in 1834. His first published work appeared in Monthly Magazine in December 1833, and he followed it with nine more, penning his name as Boz to the last two articles. The pseudonym Boz was drawn from a pet name for his younger brother when they were children. In 1836 his articles were compiled and published as Sketches by Boz. Shortly after Boz was published, DickensShow MoreRelatedCharles Dickens Biography1626 Words   |  7 Pagesattention to the childhood cruelty, the less fortunate in an English society, and the unwealthy dysfunctional families of the early Victorian time period. Charles Dickens reflects these and other issues as he brings to life the realism of writing. While others were writing about the way things should be, rather than the way things were, Dickens was challenging these ideas, and argued that paupers and criminals were not evil at birth. This was an act of rebellion, for he in fact was showing the VictorianRead MoreCharles Dickens: A Brief Biography Essay1315 Words   |  6 Pages Charles Dickens Ruth Glancy, a world-renowned Dickens scholar, believed that Charles Dickens blended the Romanticism era, the Industrial age, and the Victorian era into unforgettable novels that still had the whimsical, imaginative part of life. Ruth conceded, â€Å" Dickens increasingly saw the need for finding and nurturing the imaginative core of life that can prevail even in the middle of the modern industrial city (Glancy 17).† Charles used his own experiences and imagination to evoke storiesRead MoreCharles Dickens Biography Essay926 Words   |  4 PagesCharles Dickens, the son of John and Elizabeth Dickens, was born in Landport on 7th February 1812. John Dickens worked as a clerk at the Navy pay office in Portsmouth. He later found work in Chatham and Charles, the second of seven children, went to the local school. John Dickens found it difficult to provide for his growing family on his meager income. In 1822 the family moved to Camden Town in London. John Dickens debts had become so severe that all the household goods were sold. Still unableRead MoreIn His Biography of Charles Dickens, Edgar Johnson Writes ‘’a Christmas Carol’ Is a Parable of Social Redemption and Scrooge’s Conversion Is the Conversion for Which Dickens Hopes Among Mankind’ Discuss.1134 Words   |  5 Pagesnovella written by Charles Dickens which illustrates a somewhat happy Christmas story that highlights the importance of being a kind hearted person. Throughout his novella, Dickens’s shows the reader his intended moral of the story, that Scrooge’s transformation at the end of the novella is what Dickens’s hopes that our world will too surely change. This is evident throughout the novella as he depicts Scrooge (before the conversion), the main character; to stand for al l that Dickens is against. He alsoRead MoreGreat Expectations by Charles Dickens984 Words   |  4 PagesCharles Dickens utilizes his life for inspiration for the protagonist Pip in his novel Great Expectations. They both struggle with their social standing. Dickens loved plays and theatre and therefore incorporated them into Pip’s life. Dickens died happy in the middle class and Pip died happy in the middle class. The connection Dickens makes with his life to Pip’s life is undeniable. If readers understand Dickens and his upbringing then readers can understand how and why he created Pip’s upbringingRead MoreCharles Dickens: Carrying a Burden of Social Responsibility705 Words   |  3 PagesCharles Dickens: Carrying a Burden of Social Responsibility Charles Dickens’ classic novella A Christmas Carol, focuses on the social responsibility of the wealthy to help the poor and less fortunate. Dickens, having lived in poverty as a child, knew of the many struggles of the lower class of London. As an author, he made it his goal to reform England as best he could. Many of his works ran in his weekly journal, Household Words, including Christmas Stories and Great Expectations. In a ChristmasRead MoreEveryone Appreciates A Good, Rags, And Oliver Twist1728 Words   |  7 PagesEveryone appreciates a good ‘rags to riches’ story. Charles Dickens did as well, in fact it could be said that his own story was one of rags to riches. Dickens knew poverty, he also knew people, and how poverty can effect and change them. Over the course of his life he wrote some of the most famous and beloved stories, from â€Å"A Christmas Carol,† â€Å"Great Expectation†, and â€Å"Oliver Twist†, to â€Å"Nicholas Nickle by† and â€Å"Davis Copperfield.† Today Dickens is considered to be by many, one of the most well-knownRead MoreCharles Dickens Great Expectations1669 Words   |  7 PagesCharles Dickens He was one of England s greatest authors of the 1800 s, better known as the Victorian era. The various themes and ideas of that time are perfectly showcased in his many novels and short stories, such as Nicholas Nickelby, Great Expectations, Oliver Twist, A Tale of Two Cities, and A Christmas Carol. Much of the inspiration for these works came from the trials and conflicts that he dealt with in his own life. His volumes of fictional writing show the greatRead MoreCharles Dickens A Great Writer1105 Words   |  5 PagesOctober 2015 Remembering Charles Dickens Charles Dickens is a famous author who wrote numerous books which were enjoyed by many throughout the years. His books are known xquisite characters and real-life settings. Charles experienced difficult times as a young boy (â€Å"Charles Dickens† par. 7). These difficult times followed him throughout his life. He uses ideas from these struggles to express his feelings through the books he writes. The many struggles of Charles Dickens’ early childhood greatlyRead MoreEssay on Oliver Twist901 Words   |  4 PagesSociety or a Biography With all of the symbolism and moral issues represented in Oliver Twist, all seem to come from real events from the life of its author, Charles Dickens. The novel’s protagonist, Oliver, is a good person at heart surrounded by the filth of the London streets, filth that Dickens himself was forced to deal with in his everyday life. It’s probable that the reason Oliver Twist contains so much fear and agony is because it’s a reflection of occurrences in Charles Dickens past. Oliver

Understanding malaria Free Essay Example, 1250 words

An individual infected with malaria can witness its symptoms within a period of 7-21 days after which the health of the individuals gets deteriorated (UNICEF, â€Å"Malaria Prevention and Treatment. †). 2. With regards to determine the current knowledge on malaria, it is often considered that this particular disease affects the health and wealth of a particular nation at large. It is worth mentioning in this regard that the economic growth of a nation with huge extent of malaria transmission is relatively lower as compared to the nations free from malaria. Numerous economists conceived that malaria has been the cause of ‘growth penalty’ at the rate of 1.3% annually in African regions (Isle, â€Å"Malaria†). At present, issues related to malaria have significantly decreased in nations that remain much focused towards developing effective strategies for precluding and controlling malaria. Current knowledge on this disease in the course of pregnancy supports the fact that ‘intermittent presumptive therapy’ (IPT) along with ‘sulphadoxine or pyrimethamine’ must be used to prevent a women to get severely affected with malaria during gestation (Isle, â€Å"Malaria†). We will write a custom essay sample on Understanding malaria or any topic specifically for you Only $17.96 $11.86/pageorder now 3. Malaria is considered as a systematic disease wherein various systems within a human body gets affected as the erythrocytes get infested. Symptoms of malaria are indicated through a compound syndrome, which is developed through ‘host’ and ‘parasite’ causes. Malaria affects the RBCs within a human body due to which these cells get engaged in processes such as ‘rosetting’, ‘antigenic variation’ and ‘cytoadherence’. The figure below provides a clear idea regarding how malaria is related to the subject of biology or microbiology (Kirchgatter and Portillo, â€Å"Clinical and Molecular Aspects of Severe Malaria†). Fig. 1: Illustration of how parasites (i. e. black circles) affects blood vessels. The arrow depicts how infected RBCs get engaged in cytoadherence and rosetting Source: (Kirchgatter and Portillo, â€Å"Clinical and Molecular Aspects of Severe Malaria†) 4. Malaria can be defined as an infection, which is triggered by infected parasites that spread by female Anopheles mosquitos. In order to gather relevant information pertaining to malaria, a personal interview with George Thompson who was previously diagnosed with malaria has been conducted. The interview offered valuable input regarding malaria and its impact on physical as well as mental health of the individuals. It was revealed that Thompson initially suffered through fever and vomiting, however he failed to recognise that it was the initial symptom of malaria.

Risks of Youth Using Social Media ( Privacy Issues) Free Essays

Clinical Report: The Impact of Social Media on Children, Adolescents, and Families Gwenn Schurgin O’Keeffe, Kathleen Clarke Pediatrics Volume 127, Number 4, April 2011 pp. 800-804 RISKS OF YOUTH USING SOCIAL MEDIA Engaging in various forms of social media is a routine activity that research has shown to benefit children and adolescents by enhancing communication, social connection, and even technical skills. Social media sites such as Facebook and MySpace offer multiple daily opportunities for connecting with friends, classmates, and people with shared interests. We will write a custom essay sample on Risks of Youth Using Social Media ( Privacy Issues) or any similar topic only for you Order Now During the last 5 years, the number of preadolescents and adolescents using such sites has increased dramatically. Since a large part of this generation’s social and emotional development is occurring while on the Internet and on cell phones, children and adolescents are at some risk as they navigate and experiment with social media, because of their limited capacity for self-regulation and susceptibility to peer pressure. Recent research indicates that there are frequent online expressions of offline behaviors, such as bullying, and sexual experimentation, that have introduced problems such as cyber-bullying, privacy issues, and sexting. Cyber-bullying Cyber-bullying is deliberately using digital media to communicate false, embarrassing, or hostile information about another person. It is the most common online risk for all teens and is a peer-to-peer risk. Although â€Å"online harassment† is often used interchangeably with the term â€Å"cyber-bullying,† it is actually a different entity. Current data suggest that online harassment is not as common as offline harassment (Lenhart, 2007), and participation in social networking sites does not put most children at risk of online harassment (Ybarra Mitchell, 2008). On the other hand, cyber-bullying is quite common, can occur to any young person online, and can cause profound psychosocial outcomes including depression, anxiety, severe isolation, and, tragically, suicide (Hinduja Patchin, 2010). Sexting Sexting can be defined as â€Å"sending, receiving, or forwarding sexually explicit messages, photographs, or images via cell phone, computer, or other digital devices†(Berkshire District Attorney, 2010). Many of these images become distributed rapidly via cell phones or the Internet. This phenomenon does occur among the teen population; a recent survey revealed that 20% of teens have sent or posted nude or seminude photographs or videos of themselves (National Campaign to Prevent Teen and Unplanned Pregnancy, 2010). Some teens who have engaged in sexting have been threatened or charged with felony child pornography charges, although some states have started characterizing such behaviors as juvenile-law misdemeanors (Gifford, 2010; Walker, 2010). Additional consequences include school suspension for perpetrators and emotional distress with accompanying mental health conditions for victims. In many circumstances, however, the sexting incident is not shared beyond a small peer group or a couple and is not found to be distressing at all (Lenhart, 2009). Facebook Depression Researchers have proposed a new phenomenon called â€Å"Facebook depression,† defined as depression that develops when preteens and teens spend a great deal of time on social media sites, such as Facebook, and then begin to exhibit classic symptoms of depression (Davilla et al. 2009; Sturm, 2010). Acceptance by and contact with peers is an important element of adolescent life. The intensity of the online world is thought to be a factor that may trigger depression in some adolescents. As with offline depression, preadolescents and adolescents who suffer from Facebook depression are at risk for social isolation and sometimes turn to risky Internet sites a nd blogs for â€Å"help† that may promote substance abuse, unsafe sexual practices, or aggressive or self-destructive behaviors. How to cite Risks of Youth Using Social Media ( Privacy Issues), Papers

Measurable Social Media Marketing Strategy - MyAssignmenthelp.com

Question: Discuss about the Measurable Social Media Marketing Strategy. Answer: Introduction The marketing strategy is used by Nike, New Zealand to combine the various goals and objectives of marketing and conduct a market research to focus on the product and marketing mix and achieve the maximum level of profit in business. The marketing strategy s also used to create an effective marketing plan and ensure that the company sustains in the competitive business environment with ease and effectiveness. To conduct the research on the implementation of marketing strategies, it will be essential to set proper marketing goals and objectives, conduct the market research and analyse the target customers and competitors to make the company implement the most suitable marketing strategy properly (nike.com, 2017). The market research will be conducted by using SWOT and PESTLE anlaysis, analyse the target customers and competitors of Nike. This will make the company implement effective marketing strategies and create a good place within the business environment. Marketing goals and objectives The sales objective, as it could be seen by analyzing the marketing strategies of Nike, were to distribute the high quality sports shoes at lower prices and create a dominant marketplace within the shoe industry of New Zealand. The sales objective is also to maintain the good quality of products and services offered and make those available easily in the market place (Aaker, 2013). To focus on the objective of achieving the highest level of profit, the organization has met the requirements of customers in the different market segments and even promoted sustainable development of product design and novelty. The pricing objectives are to deliver the highest quality of products at the most competitive price and use sustainable methods to reduce the costs of operations, manufacturing and production and promote the development of innovative designs that can full the needs and requirements of the customers. This would also allow the young customers to reap the maximum benefits from exercising (Armstrong et al., 2015). The product objectives include development of the right kinds of products that can satisfy the customers and even combine all the important components of a product such as price, product features, places where the products are distributed and even how the products would be promoted to gain the attention of the customers. This would influence their buying behaviors and allow them to make purchases consistently, furthermore achieving the desired level of profit that the company had been aiming for (Baker, 2014). Few other marketing goals and objectives are maintaining the quality of products and services of Nike and ensure that these are easily available in the market, fulfill the requirements and needs of the customers in different market segments and establish sustainable methods for creating products that can reduce the amount of packaging wastes, prevent use of harmful chemicals and substances and maintain the ecological balance in nature too. The objective is also to achieve climate neutrality by preventing any carbon emissions that may be generated during the processes of manufacturing and production (Benjaafar, Li Daskin, 2013). The marketing strategies are implemented to stay ahead of all the other sports companies and make sure that the products and services are available to the customers all around the world. This could help in maintaining a better position through supply of good quality products and innovative designs for attracting the most numbers of customers belonging from di fferent backgrounds and cultures. The marketing strategies would be implemented to ensure that all kinds of products and services should be available in the markets and stores and could meet the changing demands and preferences of the customers (Berthon et al., 2012). To make the marketing strategies implementation successful, it is also important for Nike to value and respect the stakeholders such as suppliers, shareholders, customers, employees and the community and fulfill their needs and requirements to achieve the highest amount of share in the market. Encouragement of environment friendly and pollution free development strategies is another major goal or objective that can reduce the emissions of harmful gases and wastes during the processes of manufacturing and production. All these objectives, when achieved, could not only help in delivering the best quality products and services at lower prices but would also result in having a better market share along with maintenance of ecological balance in nature too (Brohi et al., 2016). Market research The research on market is conducted to identify the needs and requirements of the customers in the market, develop a profile of the competitors, identify the pricing strategies, and supply chains to make the organization gain more profit and competitive advantage in business. The market research is possible with the use of SWOT and PESTLE framework to analyse the strengths, weaknesses, opportunities and threats in the market by the assessment of market size, growth, performance regarding sales along with the sales trends, social and demographics factors too (Caniato et al., 2012). Nike has a huge market share in not only New Zealand but also in various countries all over the world, because of its wide range of products available for the customers in different segments of market. Nike has developed shoes for all kinds of sports including soccer, tennis, basketball and even for golf and due to this, it is one of the number one choice for the athletes as well. Nikes targeted market segments are not limited, because of which, more customers have been attracted, which has created enough opportunities for the company to sustain in the business (Chaffey Ellis-Chadwick, 2012). Nike has a market size of 29 billion US dollars only from its footwear segment with 23 percent of the global athletic footwear market share. The brand value is worth 29.6 billion dollars for Nike, New Zealand. Nike has been the clear winner here, as it can be seen from the analysis. Nike has experienced a solid growth in revenue and this has kept the company stay ahead of its competitors like Adidas, Rebook, etc. Though the company generates good amounts of revenue, still due to the emergence of other organizations, the growth in revenue over the last few decades has reduced largely. Based on the future demands and preferences of the customers, the demands for the basketball shoes have also decreased and remained soft when compared to the previous years (Eggers, Hansen Davis, 2012). The sales performance of Nike has improved with the implementation of good advertising strategies for increasing the demands in the market segments and spread positive brand images. The targeted market has been changed from the teenagers to the young customers to expand the target market and deliver superior quality shoes that have innovative style and are reliable and authentic in their own segments. The e-commerce technologies have benefited the company by making products and services available online and delivered those to them with ease and efficiency. This has been a growing trend for the company, which has improved the sales performance largely, thereby achieving higher amounts of profit and competitive advantage in business (Ferrell Hartline, 2012). The e-commerce growth has resulted in making digital commerce sales, which has generated more sales revenue and even has helped the company to achieve the target with ease. From the analysis of sales performance, it could be understood that Nike has stayed ahead of Adidas and Puma and had sustained in the competitive market place too. It has a sales revenue of 29.1 billion dollars, which is quite higher than the other two companies within the footwear industry. The sales of Nike have increased for the past few years hugely and it has not only resulted in gaining good amounts of return, which is far more than the investments that were made earlier. Based on the analysis of two years, though without considering the past few years, it could be seen that the sales trends had increased potentially. The social trends embraced by Nike have facilitated the implementation of sustainable approaches for changing the lives of people as well as prioritize on the strategies to create a healthier and eco-friendly environment. The corporate social responsibility allowed the company to undertake approaches like innovation of performance, managing volatility of cost of resources, effective supply chain activities, etc. that have helped in maintaining production of good quality and environment friendly products to create a better place for people to live in the future (Hartley Claycomb, 2013). The demographic segmentation helped in making different products available for different market segments comprising of children, young adults and mature individuals. The company provides shoes, clothing and other athletic accessories that are of good qualities and have helped the company to enter new markets with ease and efficiency (Hollensen, 2015). Few major strengths of the organization are its strong brand name and image, good quality research and development activities to introduce wide range of new products and services, availability of good quality shoes and apparel products at comparatively lower prices and competitive advantage has been gained by the organization too. It sells shoes for various sports activities like basketball, golf, tennis, football. The Make to stock customer order used by Nike had facilitated the delivery of fast services to the customers and because of the huge numbers of outlets in more than 180 countries; the sales had been growing consistently (Gordon, 2012). The string research and development activities had helped in innovating the products and services and ensure that the highest quality products and services were offered to keep the customers inclined to the company. Nike, being a global brand holds a recognizable logo named Swoosh, which had been quite popular among the customers as well. The revenue generated is entirely dependent upon the market share of the footwear industry, which is considered as a major weakness. The retailers of shoes and clothing items are price sensitive due to the absence of own retailers of the company, which can also led to less market share. Because of the high level of dependence on the market share, the company might be vulnerable to lesser sales when the market share declines (Hartley Claycomb, 2013). The development of products has provided enough opportunities to Nike because it has not only attracted the attention of many athletes, but also has become popular as a major fashion brand within the youth culture. There are other opportunities as well, such as development of sportswear, sunglasses, jewelry and shoes too. These high value products and services have helped in generating higher profit in business. The development of business globally has strengthened its brand name and image, furthermore supported many popular events and sports to spread brand messages related to the products of the company (Haumann et al., 2014). One of the major threats is the huge amount of competition in the market by Adidas, Rebook, etc. Nike has been exposed to the international nature of trade and so it purchases and sells products in varied currencies, which has created instable cost and margin of profit. There is huge competition in the sports shoes and apparel market, because of which the competitors have developed alternative brand products to take most of the market share that Nike currently possessed (Hawkins, Mothersbaugh Best, 2013). New Zealand has good numbers of policies and procedures for growth, which has been beneficial for the organization such as low rate of interest and structured tax agreements. Changes in tax and political issues can also result in preventing the import and export activities for Nike. By cooperating with the Government, it has become easy for Nike to enable transparency in the global value chain and deliver its products and services all over the world (Hollensen, 2015). The brand equity technique is embraced by Nike to get benefited from the growing demands and preferences of the consumers and furthermore expanded its value chain. The company has provided employment opportunities to a huge number of people in New Zealand and this has provided the local rate to the labor force. The revenue is somewhat dependent upon the low cost labour and as it is changing, the prices of products of Nike are higher as well. With good amount of capital, Nike has all the necessary resources to enter the new markets and sell products properly (Huang, 2012). Nike has maintained a good social status by providing products and services to the customers that can make them lead a better lifestyle. The sustainable processes managed by the company have improved the health consciousness and even made the company create less negative impact on the environment. The organization has complied with the requirements related to the pay structure of employees and delivering good working conditions to the people for maintaining stability within the workplace. This has maintained the organizational standards and ensured that the products and services developed could fulfill the quality standards properly (Khan, 2014). Digital metrics have been used to analyse the demands and preferences of the consumers and enable segmentation of market to manage transactions and supply chains with convenience. The technological advancements have also created good working conditions for the employees, therefore reduced the turnover of employees and undermined the efficiency of the workforce. The company has focused on its marketing effort by embracing digital technologies to focus on the e-commerce and digital sports. The Nike Fuel Band product has personalized the experience of customer and even tracked the level of workouts (Kim et al., 2012). This kind of technological innovation has also given the organization an edge over its competitors by attracting the young customers and deliver feedbacks related to the overall experiences of customers. The segmentation of demographics is a major factor that has impacted the organization by allowing it to target the customers according to their ages gender, occupation, life cycle, etc. Nike mostly targets the customers aged between 18 to 40 years for developing brand trust and loyalty. The company has implemented various marketing campaigns to attract the athletes and even acted as major sponsors to top sports events. A wide range of womens apparel and accessories have been introduced as well to expand the womans segment and this increased the generated revenue for the organization. Because of the high prices of products and services delivered by Nike, the targeting demographic variables had been education and income level of the customers (Krajewski, Ritzman Malhotra, 2013). Analysis of target customers and competitors Nike Inc. is one of the major sports footwear and apparel company that has targeted the professional athletes mostly and through continuous innovation of products and services, the company has improved the potential of athletes and fulfilled their needs and requirements too quite easily. The company has now targeted the women segment within the New Zealand market by providing them with good quality womens clothing and accessories. The young athletes are the targeted market and this has created huge potential and opportunities for the company. Previously the company targeted the people who enjoyed sports, but with time, the company had managed to innovate its products and services and targeted both the young adults and women, who want something new and attraction that could improve their lifestyle (Kumar Mirchandani, 2012). The top competitors of Nike are Adidas, Rebook, Puma, Fila, etc. The products of Adidas are sportswear, clothing and other accessories. It has worldwide revenue of more than $16 billion and brand valuation of $7 billion. Rebook is another company that provides kits of football, cricket and other sports events. Puma is one of the strong contenders of Nike though it has not good levels of sports sponsorships (Kumar et al., 2013). Thus, it could be understood that Nike emerged as a successful contender within the sports and apparel industry. The utilization of value based pricing strategy by Nike has enhanced its growth in sales and profit level. This kind of strategy has helped in identifying the price that the company has applied for the products to maximize its profit level according to the market share. The high value of products delivered has helped in maximizing the profit level largely too. The market segmentation strategy has brought fruitful results by managing agreements between the sports team and the company itself, which further sponsored and endorsed the team members. The majority consumers of Nike are sportsmen and so the company has enabled styling of the product objective and purpose (Morgan et al., 2012). The consumers were targeted effectively, which has developed product intimacy through management of quality and value for money. The business is conducted in a ethical manner and this has been possible by collaborating with the business partners, strategic suppliers and focus on the long term goals by making the employees engaged within the workforce and created good working conditions too. The Codes of conduct standards are evolved to increase the level of expectations of the factory partners and manage strict guidance related to the child labour, compensation, forced labour and association freedom. The working relationships are transformed, thereby giving enough chance to manage changes and benefit the workers of the organisation too (Mullins, Walkerb Boyd, 2012). 7 Ps of Marketing Marketing mix is one of the integral components of strategy and it consists of controllable variables that will be used to fulfill the needs of the targets consumers in the market. Marketing mix will enable to identify the best course of action for achieving the desired long-term goals and objectives, which provide the organization with competitive advantage in the market. Nike is one of the leading manufacturer and supplier of global athletic products such as sport apparels, shoes and equipments. Nike has a strong marketing strategy, which has provided them with competitive advantage in the market (nike.com, 2017). Marketing mix is a tool that is used to improve the strength of the brand and Nike has one of the most strongest marketing strategy in the market. The organization has been mainly focused on the pull strategy, which has helped them to gain competitive advantage over the competitors such as Reebok and Adidas. The marketing mix of Nike will be highlighted in detail in this part of the report (Perreault Jr, Cannon McCarthy, 2013). The product line of the organization is wide and consists of products such as the apparel, equipments and shoes. The organization is one of the market leader in their market segment and has extended their product line by including the products such as athletic bags and accessories. Nike has brand named Cole Haan that consist of casual footwear, apparels and accessories for all segment of the market. Moreover, the product line of the organization consist of brands such as Sports Specialties which has put on the market products like head gears, skate blades, ice skates, hockey sticks, protective gears, accessories and hockey jersey (Santos Laczniak, 2015). This shows that the organization has diversified portfolio and is able to incorporate large number of products into their extended product line, which is catering to the different market segment in the organization. Nike is delivering their products to the premium segment of consumers, which suggest that they have been using premium-pricing strategy. The pricing strategy of the organization has been developed in such a way so that they can compete with the other rivals in the market. Nike never compromises with the prices they offer because of the quality of the product they serve and they have been commanding high premiums (Shank Lyberger, 2014).Nike uses vertical integration in the pricing strategy where their own participants operate in different channels and multiple channel so that they can control the prices and costs of operation. The products of the organization are sold in multiple stores in all over the world and consist of other stores, which are exclusive only to Nike. Nike supplies their product in the international market through independent subsidiaries, licensees and distributors (Kukanja et al. 2017). The organization has established production units in all parts of the world and it has facilitated them in distributing the products in the market. The location of the store is one of the factors, which affects the promotion of an organization. The use of print media and advertising is evident in the organization and formed strategic alliances to promote their products. The organization had made contracts with famous players from all the fields which will includes players like Ronaldo and Lebron James. However, the inclusion of the online media for promoting their product has to be more efficient and Nike will have to more active on the social media platforms and the micro blogging sites as Facebook, Twitter and Instagram (Solomon, 2014). Thus, the organizations have been focusing on improving their digital marketing and have increased their cost of advertisements. However, online marketing and digital marketing if used in an effective way will be able to reduce the overall cost of the organization. The organization has diversified their product to cater to a wide range of consumers in the market. The target consumers include the premium consumers such as athletes. Nike has had targeted athletes from all the fields and provides wide range of products and equipments to the consumers (Aaker, 2013). Moreover, Nike also caters to normal consumer segment and has a different brand for catering to the needs of this segment. Nike is known for the designer products they offer to the consumers and they are able to provide customized products for each of the target segments. The products are designed in such a way that it will suit the needs of their desired field of expertise. Nike operates a global level and consists of large number of factories in various countries. Nike has their own set of independent distributors who supply products to the differ stores in all over the world (Armstrong et al., 2015). Marketing budget Marketing Expense Budget 2017 (OCT) 2017 (NOV) 2017 (DEC) 2018 2019 2020 Advertising $10,000 $12,000 $15,000 $20,000 $160,000 $260,000 Catalogs $2,500 $2,500 $2,500 $2,500 $25,000 $28,000 Websites $3,000 $11,800 $8,000 $5,000 $113,300 $125,000 Promotions $5,000 $10,000 $15,000 $0 $16,000 $18,000 Shows $0 $0 $0 $0 $20,200 $22,000 Literature $0 $7,000 $0 $0 $7,000 $8,000 PR $0 $0 $0 $0 $1,000 $1,000 Seminars $1,000 $0 $0 $0 $31,000 $34,000 Service $2,000 $1,000 $500 $250 $10,250 $11,000 Training $5,000 $5,000 $5,000 $5,000 $60,000 $66,000 Other $1,000 $1,000 $1,000 $1,000 $12,000 $15,000 Total Sales and Marketing Expenses $29,000 $43,800 $51,500 $23,250 $445,750 $578,000 Percent of Sales 6.24% 9.36% 6.77% 3.75% 7.48% 8.82% Contribution Margin $114,310 $123,238 $80,161 $72,035 $913,563 $1,108,926 Contribution Margin/Sales 31.07% 26.33% 10.54% 11.63% 15.3% 16.92% (Source: As created by author) The marketing budget states that Nike will be using aggressive marketing strategy and they have significantly increased their market spending. The organization is more focused on spending in their digital and online marketing; if the strategy is implemented in a proper way it will result in increase in the revenue and the overall revenue that will be generated will be around 20%. Moreover, there is a increase in the brand events which will help to promote their products and create brand recognition in the market and help them to gain competitive advantage in the market. Conclusion The report was presented to focus on the major marketing techniques followed by Nike to create a sustainable place in the market. The major marketing objectives were to deliver high quality shoes and apparel items at reasonable prices and conducted a market research for understanding the sales, growth and performance. The SWOT and PEST analysis helped in assessing the market conditions and analyse the target customers. This helped to identify the products, place, price and promotional approaches that were undertaken by the company to increase its profit level and achieve competitive advantage in business. Lastly, the financial information was presented as market budget to analyse the financial condition and improve it if any issues could be found. References Aaker, D. A. (2013).Brand relevance: Making competitors irrelevant. Jossey-Bass. Armstrong, G., Kotler, P., Harker, M., Brennan, R. (2015).Marketing: an introduction. Pearson Education. Baker, M. J. (2014).Marketing strategy and management. Palgrave Macmillan. Benjaafar, S., Li, Y., Daskin, M. (2013). Carbon footprint and the management of supply chains: Insights from simple models.IEEE transactions on automation science and engineering,10(1), 99-116. Berthon, P. R., Pitt, L. F., Plangger, K., Shapiro, D. (2012). Marketing meets Web 2.0, social media, and creative consumers: Implications for international marketing strategy.Business horizons,55(3), 261-271. Brohi, H., Prithiani, J., Abbas, Z., Bhutto, A. H., Chawla, S. K. (2016). Strategic Marketing Plan of Nike. Caniato, F., Caridi, M., Crippa, L., Moretto, A. (2012). Environmental sustainability in fashion supply chains: An exploratory case based research.International journal of production economics,135(2), 659-670. Chaffey, D., Ellis-Chadwick, F. (2012).Digital marketing. Pearson Higher Ed. Eggers, F., Hansen, D. J., Davis, A. E. (2012). Examining the relationship between customer and entrepreneurial orientation on nascent firms marketing strategy.International Entrepreneurship and Management Journal,8(2), 203-222. Ferrell, O. C., Hartline, M. (2012).Marketing strategy, text and cases. Nelson Education. Gordon, R. (2012). Re-thinking and re-tooling the social marketing mix.Australasian Marketing Journal (AMJ),20(2), 122-126. Hartley, R. F., Claycomb, C. (2013).Marketing mistakes and successes. Wiley. Haumann, T., Quaiser, B., Wieseke, J., Rese, M. (2014). Footprints in the sands of time: A comparative analysis of the effectiveness of customer satisfaction and customercompany identification over time.Journal of Marketing,78(6), 78-102. Hawkins, D. I., Mothersbaugh, D. L., Best, R. J. (2013).Consumer behavior: Building marketing strategy. McGraw-Hill Irwin. Hollensen, S. (2015).Marketing management: A relationship approach. Pearson Education. Huang, Y. K. (2012). Marketing budget allocation and marketing benefits of traditional media, online advertising, and electronic word-of-mouth.African Journal of Business Management,6(33), 9524. Khan, M. T. (2014). The concept of'marketing mix'and its elements (a conceptual review paper).International journal of information, business and management,6(2), 95. Kim, K. H., Jeon, B. J., Jung, H. S., Lu, W., Jones, J. (2012). Effective employment brand equity through sustainable competitive advantage, marketing strategy, and corporate image.Journal of Business Research,65(11), 1612-1617. Krajewski, L. J., Ritzman, L. P., Malhotra, M. K. (2013).Operations management: processes and supply chains(Vol. 1). New York, NY: Pearson. Kumar, V., Mirchandani, R. (2012). Increasing the ROI of social media marketing.MIT Sloan Management Review,54(1), 55. Kumar, V., Bhaskaran, V., Mirchandani, R., Shah, M. (2013). Practice prize winnercreating a measurable social media marketing strategy: increasing the value and ROI of intangibles and tangibles for hokey pokey.Marketing Science,32(2), 194-212. Morgan, N. A., Katsikeas, C. S., Vorhies, D. W. (2012). Export marketing strategy implementation, export marketing capabilities, and export venture performance.Journal of the Academy of Marketing Science,40(2), 271-289. Mullins, J., Walker, O. C., Boyd Jr, H. W. (2012).Marketing management: A strategic decision-making approach. McGraw-Hill Higher Education. nike.com (2017). Retrieved 2 November 2017, from https://www.nike.com Perreault Jr, W., Cannon, J., McCarthy, E. J. (2013).Basic marketing. McGraw-Hill Higher Education. Santos, N., Laczniak, G. (2015). Marketing to the poor: A SWOT analysis of the Market Construction Model for engaging impoverished market segments.Social Business,5(2). Shank, M. D., Lyberger, M. R. (2014).Sports marketing: A strategic perspective. Solomon, M. R. (2014).Consumer behavior: Buying, having, and being(Vol. 10). Upper Saddle River, NJ: Prentice Hall.

The Process of Forming a Team

A team is a group of individuals that has come together for a common purpose. A team is the basis of any institution. One organization may have several teams drawn from its departments. There are several phases that a team goes through on its way to success. They include formation, storming, conflict resolution, performing and transforming.Advertising We will write a custom essay sample on The Process of Forming a Team specifically for you for only $16.05 $11/page Learn More Before a team is formed the team members should first seek to familiarize themselves with the objective of their organization. At this level members rely on their leader on what to do and what not to. The leader should be prepared to answer questions concerning the team’s objective. This is important because an organization has several departments and the team members have specific duties assigned to them. Regardless of their duties, members must put their differences aside an d focus on achieving organizational goals. Team members should take some time to learn how to cope with their fellow members without interfering with the processes of their organization. This will help to avoid cases of sabotage from within the organization hence bring positive results. Teams are termed as X-teams if they are externally oriented and thus flexible in formation (Ancona Bresman, 2007). The next thing is to select a leader of the team. The team leader should ensure his or her team members are devoted to meet the organizational goals. The leader should find out whether the members of his team value what they do for the organization and whether they are willing to go an extra mile for the purpose of achieving organization’s mission. There exists conflict of interest after the team has been formed. This could be due to the differences with regard to recognition and pay. Divisions may arise due to struggle for leadership. Some team members may not be comfortable wit h their leader due to their individual differences with him. Members need to focus on the goals of their team instead of arguing over small issues because when members are in conflict they can never speak in one voice. For instance, in politics, there are normally several political parties contesting for the same position.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Success here will favor the party with limited struggle for power. Failure may arise where each member feels he or she is capable of becoming a leader and this will shift the focus of that political party. Teams need to be explore their needs, exploit the organization’s requirements, and export ideas to other teams. Successful teams ensure flexibility in exploration, exploitation, and exportation Thus, team members should agree on a common ground and accept their leader for what he is supposed to be doing rather than what he fails to do. Team members should respect him and usually consult him before making major decisions. Minor decisions should made by individuals even in the absence of the leader. The team should meet regularly to discuss the strategies that they can use to achieve organizational goals. The divisions are merged for the purpose of success (Ancona Bresman, 2007). After realizing the team’s potential, members should engage in performing their required task. Performing is referred by many as the beginning of the end. Here, the team’s bond is very strong and each team member knows what to do. If there are any changes to be made, the team sits down together and makes amendments appropriately. The desire for top results is very high and team members are quick to solve any differences that arise. Owing to their common goal, they feel like they are one family and each member is keen to observe what is happening to his fellow team mate. The leader of the team is required to provide guidance where necessary. Interacting with the environment enables an X-team to respond to the changing environment thus innovation. In other cases, when the team achieves its objectives, it is dissolved. This is common in project teams. At this stage, team members are very happy for their contributions towards the team’s success. This is because they know the success of the organization will bring about a positive impact to their lives and career. The team is there fore dismantled and members go back to their respective duties. Initially they fear to do things alone but as time moves they catch up with their former dutiesAdvertising We will write a custom essay sample on The Process of Forming a Team specifically for you for only $16.05 $11/page Learn More There are times when organizations have been failed by their teams. This is verified by the decline in an organization’s productivity. The leaders in this case are perceived to be incompetent. To such cases, team leaders should inform team members at the initial stage why they are in the team. This will help team members draw a line between team building actions and holidays. This is because most team building activities takes place in a different environment away from work. Therefore, Team members should wipe out their personal differences because divisions in a team are the major causes of failure. The team leader should explain to team members how crucial their unity is to the success of their mission and failure of the team means failure by all. Team leaders should set adaptive strategies with extreme execution and flexible phases, thus X-teams (Ancona Bresman, 2007). Reference Ancona, D. Bresman, H. (2007). X-teams: How to build teams that lead, innovate, and succeed. USA: Harvard Business School Publishing Corporation. This essay on The Process of Forming a Team was written and submitted by user Iman1 to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Financial report on luton brickworks Plc. The WritePass Journal

Financial report on luton brickworks Plc. Introduction Financial report on luton brickworks Plc. IntroductionWhat is Dividend?Types of Dividends:CASH DIVIDEND:STOCK DIVIDEND:STOCK SPLITS DIVIDEND:SHAREHOLDERS WEALTH MAXIMIZATION:ARGUMENTSDIRECTOR A:Formula for Walter’s model:Arguments in favour of statement:Arguments against the statement:DIRECTOR BAssumptions of MM modelArguments in favour of statement: (MR.B)Arguments against the statement: (MR.B)DIRECTOR CArguments in favour of the statementArgument against the StatementFACTORS DETERMINE DIVIDEND PAYMENT:FACTORS AFFECTING DIVIDEND POLICY:NATURE OF BUSINESS:COMPOSITION OF SHAREHOLDING:RESTRICTIONS BY CONCERNED BODIES:INFLATION:FIRM ORIENTED CONSIDERATION:LIQUIDITY:OWNERSHIP CONSIDERATIONS:CONCLUSION/RECOMMENDATIONSREFERENCESRelated Introduction Luton Brickworks plc is newly formed company which aims to maximise the wealth of its shareholders. The board of directors of the company is currently trying to decide on the most appropriate dividend policy to adopt for the company’s shareholders. However, there is a strong disagreement between three of the directors concerning the benefits of declaring cash dividends. Director A argues that cash dividends would be welcome by investors and that a high dividend payout ratio as possible would reflect positively on the market value of the shares. Director B argues that whether a cash dividend is paid or not is irrelevant in the context of shareholder maximisation. Director C takes an opposite view and argues that dividend payments should be avoided, as they would lead to a decrease in shareholder wealth. Required: Present the theory of organisational dividend policies and integrate the assignment into your discussion. a) Discuss the arguments for and against the position taken by each of the three directors b) Assuming the board of directors decides to pay a dividend to Shareholders what factors should be taken into account when determining the level of dividend payment. What is Dividend? The term dividend refers to the part of divisible profits among its shareholders. In other words, dividend is that portion of company’s profit which is distributed among its shareholders as a percentage of par values of share at a fixed rate per share according to the decision of its board of directors. The main purpose of any business is to create profits for its owners. When any company earns profit from its business, they can reinvest that money in their business, but some companies pay profits to its share holders. However when a company decides to pay dividend to shareholders, the cash available for business will reduce. Dividend inukare paid on a semi annual basis, net of deduction of tax at the standard personal income tax rate, these are called interim dividends. These interim dividends tend to be smaller than final dividends due to cash flow, taxation financial planning considerations (Sangray, 2010). Types of Dividends: 1)  Ã‚  Ã‚  Ã‚  Ã‚   Cash Dividend 2)  Ã‚  Ã‚  Ã‚  Ã‚   Stock Dividend 3)  Ã‚  Ã‚  Ã‚  Ã‚   Stock Splits Dividend CASH DIVIDEND: Cash dividend plays a dominant role in sharing company’s profit; shareholders are being paid in part of company’s profit. However in US they double the taxation of cash dividend at a maximum rate of 15% and dividends are distributed to shareholders only after company pays income tax. STOCK DIVIDEND: Stock dividend is paid to shareholders only if the companies not having healthy cash position, by combining the profits of both current previous year. Such shares are also called as ‘bonus shares’ instead of paying dividend as cash. There is no great change in equity of shareholders, as stock dividend is paid until actual stock sold in order to avoid paying taxes. In general share holders have more scope to receive additional shares from the company, where it depends on the amount already owned by shareholders. STOCK SPLITS DIVIDEND: Stock split dividend is performed in a company, if there is increase in share price, obviously investors shares become too expensive to buy. Whereas liabilities, assets, equity remains same. InUKstock split is referred as â€Å"scrip issue†, â€Å"bonus issue†, â€Å"capitalization† or â€Å"free issue†. This stock split dividend resembles stock dividend. Source: investopedia.com/terms/s/stocksplit.asp SHAREHOLDERS WEALTH MAXIMIZATION: Shareholders profit maximization consolidates the volume of risk time. The goal of SWM states that the present value of the expected future cash flow of the firm should be maximized to shareholders. ARGUMENTS DIRECTOR A: He argues that cash dividends would be welcome by investors that a high dividend payout ratio as possible would reflect positively on the market value of the shares. This argument deals with RELEVANCE THEORY, where the supporting model for this argument is WALTER’S MODEL James E. Walter (1999):   dividends are relevant. The investment policy of a company dividend policy both are inter-related as they cannot be separated by their own. The value of an enterprise will be affected by dividend policy. Formula for Walter’s model: P= D/Ke-g Where P= PRICE OF EQUITY SHARES D= INITIAL DIVIDEND Ke= COST OF EQUITY CAPITAL G= GROWTH RATE EXPECTED ANOTHER MODEL WHICH SUPPORTS THIS ARGUMENT IS GORDON LINTNER MODEL Dividend relevance, as argued by â€Å"Linter and Gordon†, suggested that investors preferred dividends to capital gains due to their certainty w  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The Gordon model can be used to find the theoretical value of a share by summing the shares discounted future dividend payments to infinity: P0   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚     = Do (1+g)/(y-g) Where: P0 =  Ã‚  Ã‚  Ã‚   current ex-dividend market price of the share r  Ã‚   =  Ã‚  Ã‚  Ã‚  Ã‚   shareholders required rate of return g  Ã‚   =  Ã‚  Ã‚  Ã‚   expected future growth rate of dividends D0 =  Ã‚  Ã‚  Ã‚   declared dividend at time t0 Dividend relevance was further supported by the argument that dividends were seen by investors as signals of a company’s future profitability. Arguments in favour of statement: 1)  Ã‚  Ã‚  Ã‚  Ã‚   The company should pay dividend to shareholders if they have sufficient liquidity to satisfy their requirements. 2)  Ã‚  Ã‚  Ã‚  Ã‚   The dividend acts as a signal to investors about the profits of the company is higher or not. 3)  Ã‚  Ã‚  Ã‚  Ã‚   The company’s market value confidence in society increase only if the dividends are paid to investors. 4)  Ã‚  Ã‚  Ã‚  Ã‚   If company pays regular cash payments to customers the firm will be recognised in the market to get financial support from other institutions with reasonable interest rates. Arguments against the statement: 1)  Ã‚  Ã‚  Ã‚  Ã‚   If the company pays dividend to investors in initial stage, it may lead to failure in important opportunities. 2)  Ã‚  Ã‚  Ã‚  Ã‚   The share value of the company decreases if the company pays more dividends to shareholders. This leads to negative impact in the market. 3)  Ã‚  Ã‚  Ã‚  Ã‚   According to nature of the business the company may suffer loss, as dividend may adversely affect the company. 4)  Ã‚  Ã‚  Ã‚  Ã‚     The regular payout of dividends will also be taxed on regular intervals, as they are corporation profits. If this profits are transferred to reserves,(capital gains) in long run, the total impact of tax would be less than the tax paid on regular dividend payments. DIRECTOR B Argues that whether a cash dividend is paid or not is irrelevant in the context of shareholders maximisation. This argument deals with IRRELEVANCE THEORY, the supporting models for this theory could be MILLER MODIGLIANI MODEL According to â€Å"Miller and Modigliani† (2010 Sudesh Sangray) the dividend payments were irrelevant should only be offered as a residual the value of a firm is unaffected by the distribution of dividends and is determined solely by the earning power and risk of its assets. The dividend policy may have no influence on the market price of the shares. Assumptions of MM model Surveillance of perfect capital markets and investors in it are rational. Securities are infinitely divisible, as there is no transactions cost, investor cannot influence the market price of securities and there are no floatation costs.   There are no differences in tax rates which are applicable to capital gains and dividends. The investment policy of a firm does not change.   It implies the financial status of the company which gives an opportunity to invest in new projects. As retain earnings will not change the business risk of the firm.   Arguments in favour of statement: (MR.B) 1)  Ã‚  Ã‚  Ã‚  Ã‚   Investors will not get affected if dividend is paid but investment policy will have impact on shareholders wealth maximization. 2)  Ã‚  Ã‚  Ã‚  Ã‚   The investors are less concern about dividend payment as they always want to maximise their wealth. 3)  Ã‚  Ã‚  Ã‚  Ã‚   The home made dividend pays to shareholders who expect regular income selling particular shares instead of anticipating dividend. 4)  Ã‚  Ã‚  Ã‚  Ã‚   If a company tries to get income from external source, by supplying sufficient funds, then retain earnings come completely irrelevant. Where shareholders wealth can be maximised by getting income from external source. Arguments against the statement: (MR.B) The perfect capital market is unrealistic. Practically, there are taxes, floatation costs and transaction costs. Paying present cash dividend is far better than capital gains, where whose appearance is definite more accepted by the shareholders. If a company paying dividend from external source of income is not a good idea, as it leads to increase in interest rate gearing ratio, which will effect shareholders wealth. DIRECTOR C This argument deals with which is similar to relevance theory, there is no specific model that supports this argument, but Argument for and against that Dividend payment should be avoided since it reduces Shareholders Wealth Arguments in favour of the statement Net income of the share holders decreases, as they pay taxes on dividend received. This result to decrease of wealth. The profitable opportunities for firm reduce, when there is regular payment of dividend to shareholders. So, the firm should try to avoid the dividend payment to its shareholders and try to concentrate on its investment opportunities. Argument against the Statement As mentioned by â€Å"Watson Head† (2004) in the article â€Å"DIVIDEND POLICY† cash dividend plays an important role to provide reliable information to the investors. That financial condition of company is strong. The uncertainty of shareholders income reduces when payment of cash dividend is high. The management tries to reduce conflict ensure their personal benefits are mention, as there is a scope of agency problems because of owner’s interest. There is decrease in interest rates when dividend payment is high which indicates the shareholders wellbeing is doing well by management are not. FACTORS DETERMINE DIVIDEND PAYMENT: The decision of dividend is difficult because of conflicting objectives lack of decision making techniques, maximizing shareholders wealth is not easy in the long run. FACTORS AFFECTING DIVIDEND POLICY: NATURE OF BUSINESS: Mostly dividend policy is adopted by companies which earn unstable profits; where it is different from company earn stable profits. COMPOSITION OF SHAREHOLDING: If the company have cumulative preference shares, they have to be paid the present year dividend in the next year along with next year dividend and if it has equity share they need not be paid even the company has profits. Example: Microsoft etc. RESTRICTIONS BY CONCERNED BODIES: In long-term some financial companies restrict the company on paying dividend to shareholders, they pronounced a clause that no payment to be made till the loan amount is repaid back to financial institutions. INFLATION: During inflation it is not much important to pay dividend. As there is no chance of replacing the equipment as funds are generated from depreciation. FIRM ORIENTED CONSIDERATION: The dividend policy is not determined by ownership interest rates. As firm’s needs are considered as important, this includes the following. Business cycles Risk of losing control on organization Post dividend policies and stockholders relationships. Relative cost of external funds Contractual legal restrictions Availability of external capital LIQUIDITY: As explained in Investopedia Dictionary. â€Å"The degree to which an asset or  security  can be bought or sold in the market without affecting the assets price.  Liquidity  is characterized by a high level of trading activity†. To increase the sales profits earned by company should reinvest in fixed assets working capital. There are some companies which cannot generate sufficient cash even if they get profitable income. OWNERSHIP CONSIDERATIONS: The identification of owner’s interest becomes difficult if it is decentralized on wide spectrum. As every shareholder have their own objectives different opinions. Investor companies are which combines the mix of both growth desired dividends. CONCLUSION/RECOMMENDATIONS Concluding that, this report explains the financial status of the company and their decision regarding shareholders wealth maximization. 1)  Ã‚  Ã‚  Ã‚  Ã‚   Dividend is paid to shareholders dividend policy is taken to distribute dividend to shareholders. 2)  Ã‚  Ã‚  Ã‚  Ã‚   There are 3 types of dividends cash, stock, stock splits dividend, which plays a key role in paying dividends. 3)  Ã‚  Ã‚  Ã‚  Ã‚   Paying dividend to shareholders is an added advantage, which increase the company’s reputation in the market. 4)  Ã‚  Ã‚  Ã‚  Ã‚   There is a possible adverse effect to the company depending on the nature of the business. 5)  Ã‚  Ã‚  Ã‚  Ã‚   As investors always look forward to maximise their wealth. 6)  Ã‚  Ã‚  Ã‚  Ã‚     It is not a good idea to pay dividend to shareholders now, as investors may think that the company is not having any future projects to enhance their business. 7)  Ã‚  Ã‚  Ã‚  Ã‚   Recommending that the company should wait for some time to gain good reputation in market and investors as well to get more profits, which help to increase in market share, and overall profits of the company. 8)  Ã‚  Ã‚  Ã‚  Ã‚   Concluding that as Luton Bricks Plc is new to company in market, there will have less scope for earning profits. REFERENCES DR.R.SRINIVASAN. (2009).  Important theories of dividend policy an appraisal.  Available: articlesbase.com/finance-articles/important-theories-of-dividend-policyan-appraisal-1353119.html. Last accessed 2nd Aug 2010. Linter. John. (1956). Distribution of income corporation among.  The American Economic. 46 (2), 2-15. American psychological association. Www.dictionary.com. dividend, Collins English dictionary, 10th edition. May 22, 2011. Pike Richard. (1996). Decisions and Strategies. In: Richard Pike and Bill Neale  Corporate finance and investment. 2nd Ed.New York: Prentice Hall,. 196-216. Watson, Denzil. And Head Antony(2007).  Corporate finance: principles and practices. 4th ed.Harlow: ft/prentice hall. pg.no:286. Sangray, S. (2011) Week-10. Advanced Corporate Finance, Dividend Policy. (Online). Available at www.breo.beds.ac.uk.(accessed on December 10, 2010). Gitman, L., J. (2009) the principles of managerial finance. 12th ed.London: Pearson Prentice Hall. Agrawalsumeets. (2010).  Theories-of-Dividend-Policy.  Available: scribd.com/doc/28162428/Theories-of-Dividend-Policy. Last accessed 27 July 2011. Dictionary. (2007).  Dividend.  Available: investopedia.com/terms/d/dividend.asp. Last accessed 02 august 2011.

Social psychology essays Essay Example | Topics and Well Written Essays - 4750 words

Social psychology essays - Essay Example because of technical ineptitude in the fingerprinting or DNA laboratory for example, perjured testimony, eyewitness misidentification, and also because of overzealous law enforcement officers who are eager to close the case and mete out justice. A courtroom is a place wherein many evidence are presented that are at best circumstantial and are then judged by ordinary people if it works for or against the defendant—a room wherein people not experts at lie detection weigh witness testimonies. Thus, wrongful convictions are not unexpected as the justice system is composed of imperfect human beings. Some states wherein there is a high rate of erroneous convictions have already enacted bills to address this problem. Because the United States rely on juries to ultimately decide on a person’s guilt, I believe that there should be a seminar or lecture regarding lie detection in order to minimize wrongful convictions. The jurors should be fully aware of what their decision could mean and what the evidences signify. In this way, they can create a more educated verdict. They are better equipped to intelligently weigh the evidences and testimonies that are presented during the trial. The polygraph relies on the physiological changes in the body, like pulse and blood pressure, to detect deception. It starts with a series of control questions to set the tone like â€Å"What is your name?† This is then followed by an explanation of what the polygraph is and what it does. Next comes the â€Å"stim test† wherein the person attached to the polygraph will be asked to lie so that the tester can see if the machine has picked up on this lie and is working properly. Then the test itself ensues. The questions alternate between some that are irrelevant, some control questions, and those that are relevant to the case. If the tester is not satisfied with the results, there is a post-test interview that is conducted. The polygraph has been known as the lie detector test that some highly

Assignment 1 Essay Example | Topics and Well Written Essays - 250 words - 13

Assignment 1 - Essay Example The falling oil prices have forced oil producers to adopt survival measures that include layoffs of many employees. Other companies related to the oil industry are also feeling the effects of the continued reduction of oil prices. Indeed, the mining and logging industry fired 3,000 employees last month (Zumbrun 1). Moreover, Schlumberger seeks to lay off about 9,000 employees since the plunging oil prices are jeopardizing production (Strauss 1). Hercules Offshore Inc is also planning to fire about 324 employees since oil producers are not willing to renew contracts for their offshore drilling rigs (Sparshott 1). Most notable U.S. economists assert that suppliers of U.S oil and gas companies will fire about 40,000 employees while equipment manufacturers could lay off 5,500 employees by December this year (Zumbrun 1). I support the need to address the issue of plunging oil prices since they threaten employment rates in U.S. In addressing the issue, U.S will safeguard the jobs at oil companies, supplying, and manufacturing companies associated with the oil industry. I am grateful of your time and continued coverage of this

Was Jonestown Murder or Suicide?

Was Jonestown Murder or Suicide? The Peoples Temple Agricultural Project came to be known to the world as the Jonestown Massacre due to the incident that occurred on November 18, 1978. The peoples temple was founded by James Warren Jim Jones however, after obtaining members, the religious organization relocated to Guyana, South America. Jones ran the site like a prison camp. His followers received little food and werent allowed to leave. Armed guards stood at the compounds perimeter. Jones often preached over the loudspeaker system at Jonestown. Fearful of a plot against him, he started conducting suicide drills. His followers were woken up in the middle of the night. They would receive a cup with a red liquid that they were told contained poison, which they were ordered to drink. After 45 minutes or so, the members were told that they were not going to die, that they had just passed a loyalty test. These drills were arguably in preparation for the real massacre, which was almost identical. In the actual massacre, v ictims had consumed a Kool-Aid drink mixed with cyanide, tranquilisers and sedatives. At the time of the massacre, the population of Jonestown had grown to approximately 900 people, over 270 of these people were children. It is still unclear whether this was a mass suicide or, if the victims were forced. The types of forensic evidence that can be gathered are; dental evidence, evidence of poisoning, bulletwound(s), fingerprints, firearms and clothing. The mass suicide/murder of The Peoples Temple members resulted in the deaths of 923 people. Autopsies were conducted on seven significant bodies via four forensic pathologists from the Armed Forces Institute of Pathology and a civilian consultant. Forensic dentistry played a big role in the identification of bodies. To identify a person from his or her teeth, a forensic dentist must have a dental record or records from the dentist of the deceased. In the case of Jonestown, or any other incident involving multiple deaths, forensic dentists receive a list of possible individuals and compare available records with the teeth and find a match; even if only a few teeth are available, a forensic dentist can still make a positive identification. The best comparisons come from x-rays, but even if those arent available, notations on the tooth cha rt can tell the dentist if the teeth are the same. The analysis and comparison of fingerprints was also a technique that was used. There are many methods and steps to analysing fingerprints, the first step is lifting a print (to take a permanent impression of the print) this is most commonly done by placing a rubber tape with an adhesive surface over a print that has been dusted with carbon black powder, once the tape is completely flat over the print it is then peeled off and placed carefully on a latent lift card for preservation. This method can, however, limit investigators ability to perform other techniques that could reveal valuable information, this is due to fingerprinting powders contaminating evidence. After fingerprinting and dentistry came pathology. The Government of Guyana began an investigation of the area of the massacre on November 20th which lasted around 36 hours. The U.S government also intercepted. The first set of bodies was taken to Dover Air Force Base in D elaware on November 23rd. An error that can be identified here is the fact that a few bodies were removed that belonged to the same family and their relationships to each other werent recorded. Once all the bodies arrived, a team of pathologists, dentists and technicians began examining them. They were examined by a group made up of of one pathologist and two graves registration technicians. It was discovered that the clothes the bodies wore had names written on them but it became obvious that the people of Jonestown often shared clothes, as some clothes had more than one name on them. This confirms that Jonestown was a communal community. Gender, age, race, hair colour and length and weight of the bodies were recorded. Most of the bodies had maggots in them because of the decomposition. The dental team helped to find out the ages of the bodies. Most of the bodies teeth were pink. The cause of this was thought to be because of cyanide poisoning every victim of the mass homicide/suicide had consumed a Kool-Aid drink laced with cyanide. The forensic evidence found was used to identify the bodies after the massacre; 666 bodies were successfully identified using the aforementioned methods, but 247 remain unidentified. An autopsy of Jones himself found he died of a fatal bullet wound behind his left temple the firearm used here was found a metre* away from Jones body. Furth ermore, only seven other bodies were autopsied which is an error as there were many more bodies which could have been examined. In conclusion, the Jonestown massacre case was not exactly solved as it is still unclear whether it was a mass murder or a suicide. Lots of evidence was recovered including dental evidence, fingerprints, gunshot wounds, evidence of poisoning, clothing and firearms. Multiple errors were made in the post-mortem investigation including the fact that family members were not kept together. This could have been stopped before the transportation of the bodies, had there been evidence suggesting a family relationship between victims beforehand. Overall, the case was arguably mishandled and abundant with mistakes and errors. Furthermore, not nearly enough evidence was gathered when considering the scale of the massacre, however, the evidence gathered did indeed further the investigation. References Goodwin, D., (2016), Fingerprint Evidence, available at: http://www.forensicequity.com/fingerprint-evidence-l2-27.html White, T. D., Folkens P.A., (2005), The Human Bone Manual Nelson, S., (2006), Jonestown: The Life and Death of Peoples Temple Moore, R., (2016), Alternative Considerations of Jonestown and the Peoples Temple, available at: http://jonestown.sdsu.edu/

American Dream Summary

â€Å"The American Dream† There is not much left of the â€Å"American Dream†. Standard of living is declining and American parents believe that their children will inherit a very bad deal (564). Essentially, Herbert believes that Americans are in denial about how bad the economy really is. The government is not adding jobs to the economy nor are they funding public schools as they should. The government is steadily cutting back on hiring teachers and firing more to â€Å"save money†.Herbert considered research from the Pew Hispanic Center that after the Recession, which ended June 2009; the foreign workers gained 69,000 jobs while United States workers lost 1. 2 million jobs. According to Herbert, it is not that the United States should discriminate against the employment of foreign workers but they need to develop a full employment economy that provides jobs for all families to enjoy a decent standard of living (565). Herbert believes Americans should not put t heir faith into the government in order for them to live the â€Å"American Dream†.The dream will never be fulfilled (570). In â€Å"The American Dream is Over† Cal Thomas responds to Herbert’s â€Å"Hiding from Reality†. Thomas believes that Herbert did not assess who is the blame for the bad economy in America. That anyone who thinks dysfunctional government is going to help achieve their dreams is putting their faith in the wrong place (569). Although Thomas believes that the rules to achieve the American Dream can no longer be taught, he does believe that they can and will work (570). Thomas lists the rules that were known to previous generations.The rules are simple. You go to college, obtain at least an undergraduate degree, get a job/career, buy a home with a white picket fence, get married and have children, save money for your retirement and live a long prosperous life (570). The rules that Thomas noted and believes in can actually work, but ther e are some obstacles that can stand in the way of some Americans. For instance, all Americans are not able to afford college. Their parents were not able to and could not start a college fund for their children.Instead, in this bad economy, they had to choose to feed and cloth their children with not enough monies left for any type of savings, let alone for college. There are other instances where being the product of a bad environment can deter other Americans from living the â€Å"American Dream†. Some do not feel that they have the knowledge of the know how to go to college and get a job/career. They live off of their street knowledge and believe that is all they need. And being that the marriage rate in America is decreasing and the pregnancy rate in increasing, well you have a good idea about the getting married and white picket fence part.You also have other Americans that did not have any education at all. They had to go to work, with little or no education and for emp loyers that offer no benefit plan such as retirement benefits, so there goes bye to the retirement safety net. These obstacles, according to what Herbert might respond, might be overcome if the government added more jobs to the economy and provided more funding for education instead of the funding of useless wars. Herbert states the government needs â€Å"a resurrection of the American dream† (565).

127 Hours Film Review Essay

His pain, his desire to be free and his desperation was shared with the viewers in such a way that it’s somehow disturbing. His delusions were able to reach the minds of those who watched the movie, particularly myself. In the technical aspect, it used natsot or the natural sound in most of the scenes. James Franco played Aron, an engineer who likes or rather whose hobby is to climb and hike on mountains. He is the protagonist and at the same time, the victim in the film. The antagonist here is the situation itself. It is the reason why he is in such troublesome circumstance which won’t allow him to be free. If not for his determination to live, he would not make it out alive though the process is excruciating and gruesome at some point. What strikes me the most in this film is that the director managed to make the film worth watching in 1 and a half hour with only one setting or location and focusing on one character only. Not many films can pull something like this. In regards to the content, it showed that in order to survive, you have to sacrifice something and do unimaginable things. This surprised me because it was not normal and people don’t do those kind of things. With James Franco’s acting, it made the movie a sure hit and suitable to be awarded in Oscars which it really did. The content fulfilled the expectations of the eyes, mind and soul of the movie goers. If I were the film maker, the ending would have been a sad one since I’m a fan of tragic endings. But if I do that, it will disappoint the viewers so I would make it a little less tragic. The end would be that Aron, after decapitating his arm, would not find any source of water which will make him more tired and more desperate in search of water. His long walks will continue until he finds himself in the middle of nowhere. Slowly, his body begins to collapse. He can no longer see straight due to the loss of blood. He then looks at the sky, the sun raised high, camera focused on his face. Until then, he will encounter other hikers whom will help him. At that time, he will close his eyes slowly, leaving the audience thinking whether he survived that day. Before credits roll, his picture with his family after the incident will be shown, revealing that he did survived.

Definition Of Surety Company And Bonds Finance Essay - Free Essay Example

Sample details Pages: 5 Words: 1392 Downloads: 6 Date added: 2017/06/26 Category Finance Essay Type Research paper Did you like this example? In the construction Industry something is needed to insure the project will be complete within time, within budget and with specifications requirements. The surety bond guarantees that one of the primary parties will fulfill an obligation to an obligee, which in most cases is the completion of contract work as detailed in the contract drawings and specifications within the time frame designated by the owner. Don’t waste time! Our writers will create an original "Definition Of Surety Company And Bonds Finance Essay" essay for you Create order To guarantee that the designated work will be completed by the contractor, owners will request contractors to submit some guarantee to do finish job, this is a type of surety bond known as a bid bond. Many times the owner will also accepted a bank check for a certain percentage of the bid price at the time of bid in place of a bid bond. A surety bond is a three-way agreement involving a surety company, a project owner, and a contractor. When a surety company issues a bond to a contractor, it is transferring risk from Owner to Supplier or like Owner to G.C. and G.C. to subcontractor and subcontractor to supplier or G.C. to supplier. If the Contractor fails to perform the job to the satisfaction of the owner, then the surety will be asked by the owner to perform the work so that it is satisfactory to the owner by paying the original contractor to finish the work or hiring an outside contractor to take the place of the original contractor to complete the work. The cost incurred by the surety will be charged to the original contractor. If the contractor cannot be paid legal actions could very well be taken. Types Of Bonds: In Construction or any field there are many bond for giving surety of work. In Construction there are three types of bond which are used today. Bid Bond: Guarantees the fulfillment of an offer or bid if it is accepted Performance Bond: Surety bond issued by an insurance company or a bank to guarantee satisfactory completion of a project by a contractor. Payment Bond: Bond executed in connection with a contract to assure payment as required by statute of all persons supplying labor and material in the execution of the work provided for in the contract. Benefits Of Bonds: Provide capable qualified contractors Bonding Company will only issue bonds to contractors who have minimum risk involved with them. As an impartial third party, the surety prequalifies the contractor to verify that the contractor is capable and qualified. Assure project completion If contractor fail to do the work in timely manner or per specification then Owner is given assurance from the surety to finish the job on time and given amount. . A capable contractor is less likely to default on a project. However, there are many things that can cause contractors default, and in that event, the surety bond offers protections against financial loss. Offer financial security -Owner is assured that the project will be completed to their satisfaction and the original contract amount. Technical, managerial, or financial assistance -If the contractor requests help, the surety may offer technical, managerial, or financial assistance. This can help the project move forward and significantly reduce the likelihood of default. Reduce risk of liens filed by subcontractors, laborers, suppliers -Surety bonds relieve the private project owners from risk of liens filed by unpaid subcontractors and suppliers. In the absence of liens, the transition from construction to permanent financing is much smoother. Protect taxpayer dollars for public projects Smoother transition from construction to permanent financing Lower costs-When subcontractors and suppliers know they are protected by a payment bond, they may present lower quotes since they no longer have to absorb the risk of nonpayment. How Do Surety Companies Evaluate the Contractor? Before issuing a surety bond to the contractor, the Surety Company will look for the following items: Good References and reputation Financial strength of the Company. Credit history. Bank relationship Credit and debit. Experience related to contract requirements- It includes education and field experience to prospective projects Ability to obtain equipment to perform the work Ability to hire necessary employees to perform the work Work in progress. -Projects that are in-hand and are currently in progress. Management capability. How the contractor will be able to manage their company and its projects. Geographic area in which the company operates. Financial Data consideration: Surety Company will look at financial reports of the company to determine whether they will be providing surety bonds to the contractor or not. They will review: CPAs Opinion Quality of financial statements Type of accounting method used to recognize revenues earned CPAs Opinion: Influences the amount of credibility underwriters assign to the reported data (financial statements). Usually pronounces the entire examination and statement to have been prepared and presented in agreement with GAAP. (preferred by surety underwriters) Quality of Financial Statement: Compilation- Accountant provides no assurance regarding the numbers presented in clients financial statement. No detailed examination of the figures in the statement Review- Accountant provides a more than routine examination of numbers. Assurance exists that there are no misrepresentations Audit- Accountant applies industry accepted auditing procedures including verification of relevant items in the statements. Accountant certifies that financial statement is presented in accordance with GAAP. * Only when a statement is prepared under the audit does a surety consider the evaluation of the contractors financial structure complete Type of Accounting Method : The Accounting method used by the contractor is significant to underwriters because it indicates how the accountant has recognized the contractors income. Types: Cash Basis-income taken into account when received Straight Accrual-income taken into account when earned Percentage of Completion-income recognized as work progresses Completed Contract-income reported in the year contract was completed Underwriters prefer not to see cash basis or straight accrual statements. Percentage of Completion method gives the most accurate picture of financial position because income is recognized in proportion to cost incurred. Recommended by American Institute of Certified Public Accountants Financial Analysis: Surety underwriters review issues related to the contractors financial statement and perform data analysis. For example, if a particular contractor has failed to make a profit in recent years, they will have a rather difficult time in preserving a relationship with a surety company. Surety evaluates: Capital base Sufficient working capital Profitability Asset utilization Overhead expenses Notes accompanying the financial statement Ratio and trend analysis Qualifications of the CPA preparing the statement Suretys also strongly consider backlog that the company has and also the contractors costs related to completing any current projects. What this reveals to the surety company is whether the contractor has the ability to cover overhead expenses for the planned project for which they wish to bid. This is one of the leading issues of the surety and the project owner. Ratio Analysis: Sureties use ratios to analyze the companys finances Focus analysis in five areas: Liquidity-Current Assets/Current Liabilities Operations-Effectiveness of management Leverage-Level of debt pressure Coverage-Ability to service debt Specific expense items-Relate expense items to net sales Ratios are compared to the contractors historical values and against industry averages. Profit and Growth Analysis: To analyze company profitability, sureties review the schedule of current and completed projects Sureties also closely scrutinize the profit trends of the company and managements commitment to corporate growth Banking Credit: A strong banking relationship is a part of a solid financial history for a contractor. Surety companies want to see contractors with a strong banking relationship, but mainly with sufficient working capital to support work programs without bank borrowing. Conclusion: In addition to the above mentioned items which are evaluated by the surety company before issuing a bond, sureties also check the contractors credit rating by gathering information from such sources as Dun and Bradstreet and Robert Morris Associates reports, suppliers, other contractors, and the contractors bank. From the above sources, the surety is able to gain access to information such as: present/ average bank balances, credit established with the contractors bank, total experience in the industry, length of business relationships with various parties. Even after all the information is provided to the surety, there is no guarantee it will result in approval. The bond will be approved only if the surety is confident the contractor is qualified to perform the contract successfully and has the financial capacity to withstand the numerous risks involved in the construction business.