Holland Theory and Application Essay

John Holland made his mark from 1953-1556 while working at Vocational Counseling Service in Perry Point Veterans Hospital followed by his work as the Director of Research for the National Merit Scholarship Corporation. His work at these two organizations leads to the first edition of Vocational Preference Inventory. In 1959, John Holland was published in the Journal of Counseling Psychology for his vocational theory (Gottfredson & Johnstun, 2009). He established his theory of matching people to vocations in the world of work. Although the trait and factor approach was established in 1909, John Holland took it a step further using the Army as his model (Bolles & Figler, 1999). John Holland was quoted, â€Å"I am a psychologist who pays attention to the obvious† (Bolles & Figler, 1999, p. 63). This was the theme of his theory. Holland theory is about the fit of the individual to the work environment. Some clients will be better suited for certain working environments and poorly matched to others (Anderson & Vandehey, 2012). The Holland theory is based on identification of people environment, skills, and values leading into six occupational categories known as ‘RIASEC’ (realistic, investigative, artistic, social, enterprising, and conventional) (Bolles & Figler, 1999). Although each category is consider a unaltered type of personality most clients will not fit into just one type. Holland’s theory assigns them a set of two or three of the types (Anderson & Vandehey, 2012). The first of Holland’s types, realistic, are clients who have athletic or mechanical ability, work with objects, machines, tools, plants, animals and the outdoors. Realistic client will be competent in reading blue prints, repair of furniture, making mechanical types of drawings, using special instruments such as a voltmeter, and will also have good math and mechanical backgrounds. They will also have interests in woodwork, metal work, and easily work with tools. Some realistic occupations would include radio operator, civil engineer, machinist, or piano tuner (Bolles & Figler, 1999). The next type, investigative, will be clients who like to observe, learn, analyze, investigative, solve problems or evaluate in general. Their proficiencies include scientific and technical training using a slide rule or microscope, using a logarithmic table, describes white blood cells by their uses, interpret chemical formulas, and understand the workings of a vacuum tube. These clients readily enjoy scientific books, lab work, chemistry, math puzzles, and normally take several classes in physics, math, and biology. Investigative job opportunities could be physician, math teacher, lab technician, or oceanographer (Bolles & Figler, 1999). The artistic clients, Holland’s third type, are innovating or intuitive thinkers, like to work in unrestrictive environments, and tend to be extremely creative or imaginative. Skills for creative people would contain playing a musical instrument, choir, designing, creating photography or art, or read/write poetry. Artistic types, according to Holland, would enjoy sketching, attending plays, taking an art class, or reading popular fiction. Occupations for these clients can be drama coach, advertising executive, photographer, or foreign language interpreter (Bolles & Figler, 1999). Holland’s fourth types of clients, social, like to work with people by informing, helping, training, or are skilled with words. These clients will feel competent with peers older than them, easily plan a school or church function, and are good judge of others personalities. They will belong to clubs, write letters, attend sports events, go to parties, help others with personal problems, and like to meet new people. Director of social services, employment representative, counselor, recreation administrator, and Foreign Service officer are a few of the occupations well suited for a social Holland code (Bolles & Figler, 1999). Enterprising, Holland’s fifth code, are comprised of clients that a people-influencing, leaders, persuaders, or economic goal friendly. They easily sell, influence others, give pep talks, meet important people, and discuss politics. In college or high school these clients were elected to office, organized clubs, debated, supervised the work of others, or acted as a spokesperson for a cause. They become bankers, personnel recruiters, labor arbitrators, insurance managers, and small business owners (Bolles & Figler, 1999). The conventional is the last of Holland’s types. Conventional types like to work with data and carrying out in detailed instructions. They have the ability to file correspondence, work in office setting, type 40 words per minute, use shorthand, post credits and debits, and keep accurate records. They may have done bookkeeping, operated business machines, written business letters, or maintain neat records and files. Conventational types are often employed as accountants, credit managers, payroll clerks, bookkeepers, library assistants or personnel secretary (Bolles & Figler, 1999). Holland realized that not every client would fit into a type nice and neatly hence the Holland two or three codes are established in order to have a person in a job that would give work satisfaction. They are several resources available to clients and counselors to aid in discovering a client’s RIASEC code. The Self-Directed Search (SDS) was first published in 1970 and was development by John Holland. The advantage of this assessment is that it is intended for the college or adult setting. The written version not only includes the assessment but also Holland’s Occupation Finder (OF) booklet for a counselor to use with their clients. Holland also created a seven page booklet, You and Your Career, that can be used to enhance the SDS and OF with suggestions for effective career planning (Reardon & Lumsden, 2002). Later, Holland, with Amy Powell, created SDS Career Explorer designed for middle school students along with his booklet Exploring Your Future with the SDS. Along with the assessment are several tools for educators and students alike. Holland, along with several other colleagues, has expanded the abilities of instruments to include measures for stability, environment, and additional resource to ensure understanding of the instruments and proper use and application (Reardon & Lumsden, 2002). In my world of career counseling, I apply Holland’s theory of putting the right client into the best fit for client. I agree with his theory that if a client is not using the skills or interests that they enjoy that will have poor performance. This ultimately in my opinion leads to job hopping, lack of self-efficacy, and depression. I have the advantage of money on my side and we use the program Discover for most assessments. However, I do not always jump to test. By having knowledge of Holland theory and his types and code match through counselor I am able to get a client to find their career goals on their own without test. With my â€Å"type† of client they do not want to sit through testing no matter how short it is, they already have to study for their current jobs, college classes, and advancement exams. I try to incorporate Holland’s theory daily which can have its drawbacks. They occupation that my client would be good at may not have openings or worse the Navy does not have it, so I try help them compromise with community service or college course that would satisfy their needs. Over the last ten years, I have learned that I am not the answer person more like their vessel to maintenance phase of their transition cycles (Anderson & Vandehey, 2002). I could not trade in the feeling of when I see them finally figure out what they want to do when the grow up.

Solutions of Financial Management

Chapter 1 An Overview of Financial Management Learning Objectives After reading this chapter, students should be able to: ? Identify the three main forms of business organization and describe the advantages and disadvantages of each one. ? Identify the primary goal of the management of a publicly held corporation, and understand the relationship between stock prices and shareholder value. ? Differentiate between what is meant by a stock’s intrinsic value and its market value and understand the concept of equilibrium in the market. Briefly explain three important trends that have been occurring in business that have implications for managers. ? Define business ethics and briefly explain what companies are doing in response to a renewed interest in ethics, the consequences of unethical behavior, and how employees should deal with unethical behavior. ? Briefly explain the conflicts between managers and stockholders, and explain useful motivational tools that can help to prevent t hese conflicts. Identify the key officers in the organization and briefly explain their responsibilities. Lecture Suggestions Chapter 1 covers some important concepts, and discussing them in class can be interesting. However, students can read the chapter on their own, so it can be assigned but not covered in class. We spend the first day going over the syllabus and discussing grading and other mechanics relating to the course. To the extent that time permits, we talk about the topics that will be covered in the course and the structure of the book.We also discuss briefly the fact that it is assumed that managers try to maximize stock prices, but that they may have other goals, hence that it is useful to tie executive compensation to stockholder-oriented performance measures. If time permits, we think it’s worthwhile to spend at least a full day on the chapter. If not, we ask students to read it on their own, and to keep them honest, we ask one or two questions about the mate rial on the first mid-term exam.One point we emphasize in the first class is that students should print a copy of the PowerPoint slides for each chapter covered and purchase a financial calculator immediately, and bring both to class regularly. We also put copies of the various versions of our â€Å"Brief Calculator Manual,† which in about 12 pages explains how to use the most popular calculators, in the copy center. Students will need to learn how to use their calculators immediately as time value of money concepts are covered in Chapter 2. It is important for students to grasp these concepts early as many of the remaining chapters build on the TVM concepts.We are often asked what calculator students should buy. If they already have a financial calculator that can find IRRs, we tell them that it will do, but if they do not have one, we recommend either the HP-10BII or 17BII. Please see the â€Å"Lecture Suggestions† for Chapter 2 for more on calculators. DAYS ON CHAPT ER: 1 OF 58 DAYS (50-minute periods) Answers to End-of-Chapter Questions 1-1When you purchase a stock, you expect to receive dividends plus capital gains. Not all stocks pay dividends immediately, but those corporations that do, typically pay dividends quarterly.Capital gains (losses) are received when the stock is sold. Stocks are risky, so you would not be certain that your expectations would be met—as you would if you had purchased a U. S. Treasury security, which offers a guaranteed payment every 6 months plus repayment of the purchase price when the security matures. 1-2No, the stocks of different companies are not equally risky. A company might operate in an industry that is viewed as relatively risky, such as biotechnology—where millions of dollars are spent on R&D that may never result in profit.A company might also be heavily regulated and this could be perceived as increasing its risk. Other factors that could cause a company’s stock to be viewed as re latively risky include: heavy use of debt financing vs. equity financing, stock price volatility, and so on. 1-3If investors are more confident that Company A’s cash flows will be closer to their expected value than Company B’s cash flows, then investors will drive the stock price up for Company A. Consequently, Company A will have a higher stock price than Company B. -4No, all corporate projects are not equally risky. A firm’s investment decisions have a significant impact on the riskiness of the stock. For example, the types of assets a company chooses to invest in can impact the stock’s risk—such as capital intensive vs. labor intensive, specialized assets vs. general (multipurpose) assets—and how they choose to finance those assets can also impact risk. 1-5A firm’s intrinsic value is an estimate of a stock’s â€Å"true† value based on accurate risk and return data. It can be estimated but not measured precisely.A sto ck’s current price is its market price—the value based on perceived but possibly incorrect information as seen by the marginal investor. From these definitions, you can see that a stock’s â€Å"true long-run value† is more closely related to its intrinsic value rather than its current price. 1-6Equilibrium is the situation where the actual market price equals the intrinsic value, so investors are indifferent between buying or selling a stock. If a stock is in equilibrium then there is no fundamental imbalance, hence no pressure for a change in the stock’s price.At any given time, most stocks are reasonably close to their intrinsic values and thus are at or close to equilibrium. However, at times stock prices and equilibrium values are different, so stocks can be temporarily undervalued or overvalued. 1-7If the three intrinsic value estimates for Stock X were different, I would have the most confidence in Company X’s CFO’s estimate. In trinsic values are strictly estimates, and different analysts with different data and different views of the future will form different estimates of the intrinsic value for any given stock.However, a firm’s managers have the best information about the company’s future prospects, so managers’ estimates of intrinsic value are generally better than the estimates of outside investors. 1-8If a stock’s market price and intrinsic value are equal, then the stock is in equilibrium and there is no pressure (buying/selling) to change the stock’s price. So, theoretically, it is better that the two be equal; however, intrinsic value is a long-run concept. Management’s goal should be to maximize the firm’s intrinsic value, not its current price.So, maximizing the intrinsic value will maximize the average price over the long run but not necessarily the current price at each point in time. So, stockholders in general would probably expect the firmâ⠂¬â„¢s market price to be under the intrinsic value—realizing that if management is doing its job that current price at any point in time would not necessarily be maximized. However, the CEO would prefer that the market price be high—since it is the current price that he will receive when exercising his stock options.In addition, he will be retiring after exercising those options, so there will be no repercussions to him (with respect to his job) if the market price drops—unless he did something illegal during his tenure as CEO. 1-9The board of directors should set CEO compensation dependent on how well the firm performs. The compensation package should be sufficient to attract and retain the CEO but not go beyond what is needed. Compensation should be structured so that the CEO is rewarded on the basis of the stock’s performance over the long run, not the stock’s price on an option exercise date.This means that options (or direct stock awards) sho uld be phased in over a number of years so the CEO will have an incentive to keep the stock price high over time. If the intrinsic value could be measured in an objective and verifiable manner, then performance pay could be based on changes in intrinsic value. However, it is easier to measure the growth rate in reported profits than the intrinsic value, although reported profits can be manipulated through aggressive accounting procedures and intrinsic value cannot be manipulated.Since intrinsic value is not observable, compensation must be based on the stock’s market price—but the price used should be an average over time rather than on a spot date. 1-10The three principal forms of business organization are sole proprietorship, partnership, and corporation. The advantages of the first two include the ease and low cost of formation. The advantages of the corporation include limited liability, indefinite life, ease of ownership transfer, and access to capital markets.The disadvantages of a sole proprietorship are (1) difficulty in obtaining large sums of capital; (2) unlimited personal liability for business debts; and (3) limited life. The disadvantages of a partnership are (1) unlimited liability, (2) limited life, (3) difficulty of transferring ownership, and (4) difficulty of raising large amounts of capital. The disadvantages of a corporation are (1) double taxation of earnings and (2) setting up a corporation and filing required state and federal reports, which are complex and time-consuming. 1-11Stockholder wealth maximization is a long-run goal.Companies, and consequently the stockholders, prosper by management making decisions that will produce long-term earnings increases. Actions that are continually shortsighted often â€Å"catch up† with a firm and, as a result, it may find itself unable to compete effectively against its competitors. There has been much criticism in recent years that U. S. firms are too short-run profit-oriente d. A prime example is the U. S. auto industry, which has been accused of continuing to build large â€Å"gas guzzler† automobiles because they had higher profit margins rather than retooling for smaller, more fuel-efficient models. -12Useful motivational tools that will aid in aligning stockholders’ and management’s interests include: (1) reasonable compensation packages, (2) direct intervention by shareholders, including firing managers who don’t perform well, and (3) the threat of takeover. The compensation package should be sufficient to attract and retain able managers but not go beyond what is needed. Also, compensation packages should be structured so that managers are rewarded on the basis of the stock’s performance over the long run, not the stock’s price on an option exercise date.This means that options (or direct stock awards) should be phased in over a number of years so managers will have an incentive to keep the stock price hig h over time. Since intrinsic value is not observable, compensation must be based on the stock’s market price—but the price used should be an average over time rather than on a spot date. Stockholders can intervene directly with managers. Today, the majority of stock is owned by institutional investors and these institutional money managers have the clout to exercise considerable influence over firms’ operations.First, they can talk with managers and make suggestions about how the business should be run. In effect, these institutional investors act as lobbyists for the body of stockholders. Second, any shareholder who has owned $2,000 of a company’s stock for one year can sponsor a proposal that must be voted on at the annual stockholders’ meeting, even if management opposes the proposal. Although shareholder-sponsored proposals are non-binding, the results of such votes are clearly heard by top management. If a firm’s stock is undervalued, t hen corporate raiders will see it to be a bargain and will attempt to capture the firm in a hostile takeover.If the raid is successful, the target’s executives will almost certainly be fired. This situation gives managers a strong incentive to take actions to maximize their stock’s price. 1-13a. Corporate philanthropy is always a sticky issue, but it can be justified in terms of helping to create a more attractive community that will make it easier to hire a productive work force. This corporate philanthropy could be received by stockholders negatively, especially those stockholders not living in its headquarters city.Stockholders are interested in actions that maximize share price, and if competing firms are not making similar contributions, the â€Å"cost† of this philanthropy has to be borne by someone–the stockholders. Thus, stock price could decrease. b. Companies must make investments in the current period in order to generate future cash flows. Sto ckholders should be aware of this, and assuming a correct analysis has been performed, they should react positively to the decision. The Mexican plant is in this category. Capital budgeting is covered in depth in Part 4 of the text.Assuming that the correct capital budgeting analysis has been made, the stock price should increase in the future. c. U. S. Treasury bonds are considered safe investments, while common stock are far more risky. If the company were to switch the emergency funds from Treasury bonds to stocks, stockholders should see this as increasing the firm’s risk because stock returns are not guaranteed—sometimes they go up and sometimes they go down. The firm might need the funds when the prices of their investments were low and not have the needed emergency funds.Consequently, the firm’s stock price would probably fall. 1-14a. No, TIAA-CREF is not an ordinary shareholder. Because it is one of the largest institutional shareholders in the United St ates and it controls nearly $280 billion in pension funds, its voice carries a lot of weight. This â€Å"shareholder† in effect consists of many individual shareholders whose pensions are invested with this group. b. The owners of TIAA-CREF are the individual teachers whose pensions are invested with this group. c. For TIAA-CREF to be effective in wielding its weight, it must act as a coordinated unit.In order to do this, the fund’s managers should solicit from the individual shareholders their â€Å"votes† on the fund’s practices, and from those â€Å"votes† act on the majority’s wishes. In so doing, the individual teachers whose pensions are invested in the fund have in effect determined the fund’s voting practices. 1-15Earnings per share in the current year will decline due to the cost of the investment made in the current year and no significant performance impact in the short run. However, the company’s stock price should increase due to the significant cost savings expected in the future. -16The board of directors should set CEO compensation dependent on how well the firm performs. The compensation package should be sufficient to attract and retain the CEO but not go beyond what is needed. Compensation should be structured so that the CEO is rewarded on the basis of the stock’s performance over the long run, not the stock’s price on an option exercise date. This means that options (or direct stock awards) should be phased in over a number of years so the CEO will have an incentive to keep the stock price high over time.If the intrinsic value could be measured in an objective and verifiable manner, then performance pay could be based on changes in intrinsic value. Since intrinsic value is not observable, compensation must be based on the stock’s market price—but the price used should be an average over time rather than on a spot date. The board should probably set the CEOà ¢â‚¬â„¢s compensation as a mix between a fixed salary and stock options. The vice president of Company X’s actions would be different than if he were CEO of some other company. 17.Setting the compensation policy for three division managers would be different than setting the compensation policy for a CEO because performance of each of these managers could be more easily observed. For a CEO an award based on stock price performance makes sense, while in this situation it probably doesn’t make sense. Each of the managers could still be given stock awards; however, rather than the award being based on stock price it could be determined from some observable measure like increased gas output, oil output, etc. Answers to End-of-Chapter ProblemsWe present here some intermediate steps and final answers to end-of-chapter problems. Please note that your answer may differ slightly from ours due to rounding differences. Also, although we hope not, some of the problems may have mor e than one correct solution, depending on what assumptions are made in working the problem. Finally, many of the problems involve some verbal discussion as well as numerical calculations; this verbal material is not presented here. 2-1FV5 = $16,105. 10. 2-2PV = $1,292. 10. 2-3I/YR = 8. 01%. 2-4N = 11. 01 years. 2-5N = 11 years. 2-6FVA5 = $1,725. 22; FVA5 Due = $1,845. 99. 2-7PV = $923. 98; FV = $1,466. 4. 2-8PMT = $444. 89; EAR = 12. 6825%. 2-9a. $530. d. $445. 2-10a. $895. 42. b. $1,552. 92. c. $279. 20. d. $499. 99; $867. 13. 2-11a. 14. 87%. 2-12b. 7%. c. 9%. d. 15%. 2-13a. 10. 24 years. c. 4. 19 years. 2-14a. $6,374. 97. d(1). $7,012. 47. 2-15a. $2,457. 83. c. $2,000. d(1). $2,703. 61. 2-16PV7% = $1,428. 57; PV14% = $714. 29. 2-179%. 2-18a. Stream A: $1,251. 25. 2-19a. $423,504. 48. b. $681,537. 69. c(2). $84,550. 80. 2-20Contract 2; PV = $10,717,847. 14. 2-21a. 30-year payment plan; PV = $68,249,727. b. 10-year payment plan; PV = $63,745,773. c. Lump sum; PV = $61,000,000. 2-22a . $802. 43. c. $984. 88. 2-23a. $881. 7. b. $895. 42. c. $903. 06. d. $908. 35. e. $910. 97. 2-24a. $279. 20. b. $276. 84. c. $443. 72. 2-25a. $5,272. 32. b. $5,374. 07. 2-26$17,290. 89; $19,734. 26. 2-27a. Bank A = 4%. 2-28INOM = 7. 8771%. 2-293%. 2-30a. E = 63. 74 yrs. ; K = 41. 04 yrs. b. $35,825. 33. 2-31a. $35,459. 51. b. $27,232. 49. 2-32$496. 11. 2-33$17,659. 50. 2-34a. PMT = $10,052. 87. b. Yr 3: Int/Pymt = 9. 09%; Princ/Pymt = 90. 91%. 2-35a. PMT = $34,294. 65. b. PMT = $7,252. 78. c. Balloon PMT = $94,189. 69. 2-36a. $5,308. 12. b. $4,877. 09. 2-37a. 50 mos. b. 13 mos. c. $112. 38. 2-38$309,015. 2-39$36,950. 2-40$9,385. 3-1$1,000,000. 3-2$2,500,000. -3$3,600,000. 3-4$20,000,000. 3-5a, possibly c. 3-6$89,100,000. 3-7a. $50,000. b. $115,000. 3-8NI = $450,000; NCF = $650,000; OCF = $650,000. 3-910,500,000 shares. 3-10a. $2,400,000,000. b. $4,500,000,000. c. $5,400,000,000. d. $1,100,000,000. 3-11$12,681,482. 3-12a. $592 million. b. RE04 = $1,374 million. c. $1,600 million. d. $15 million. e. $620 million. 3-13a. $90,000,000. b. NOWC05 = $192,000,000; NOWC04 = $210,000,000. c. OC04 = $460,000,000; OC05 = $492,000,000. d. FCF = $58,000,000. 3-14a. $2,400,000. b. NI = 0; NCF = $3,000,000. c. NI = $1,350,000; NCF = $2,100,000. 4-1AR = $800,000. 4-2D/A = 58. 33%. 4-3TATO = 5; EM = 1. . 4-4M/B = 4. 2667. 4-5P/E = 12. 0. 4-6ROE = 8%. 4-7$112,500. 4-815. 31%. 4-9$142. 50. 4-10NI/S = 2%; D/A = 40%. 4-112. 9867. 4-12TIE = 2. 25. 4-13TIE = 3. 86. 4-14ROE = 23. 1%. 4-15(ROE = +5. 54%; QR = 1. 2. 4-167. 2%. 4-17a. 4-186. 0. 4-19$262,500. 4-20$405,682. 4-21$50. 4-22A/P = $90,000; Inv = $90,000; FA = $138,000. 4-23a. Current ratio = 1. 98; DSO = 76. 3 days; Total assets turnover = 1. 73; Debt ratio = 61. 9%. 4-24a. TIE = 11; EBITDA coverage = 9. 46; Profit margin = 3. 40%; ROE = 8. 57%. 6-1b. Upward sloping yield curve. c. Inflation expected to increase. d. Borrow long term. 6-22. 25%. 6-36%; 6. 33%. 6-41. 5%. 6-50. %. 6-621. 8%. 6-75. 5%. 6-88. 5%. 6-96. 8%. 6-106. 0 %. 6-111. 55%. 6-120. 35%. 6-131. 775%. 6-14a. r1 in Year 2 = 6%. b. I1 = 2%; I2 = 5%. 6-15r1 in Year 2 = 9%; I2 = 7%. 6-1614%. 6-177. 2%. 6-18a. r1 = 9. 20%; r5 = 7. 20%. 6-19a. 8. 20%. b. 10. 20%. c. r5 = 10. 70%. 7-1$935. 82. 7-2a. 7. 11%. b. 7. 22%. c. $988. 46. 7-3$1,028. 60. 7-4YTM = 6. 62%; YTC = 6. 49%; most likely yield = 6. 49%. 7-5a. VL at 5% = $1,518. 98; VL at 8% = $1,171. 19; VL at 12% = $863. 78. 7-6a. C0 = $1,012. 79; Z0 = $693. 04; C1 = $1,010. 02; Z1 = $759. 57; C2 = $1,006. 98; Z2 = $832. 49; C3 = $1,003. 65; Z3 = $912. 41; C4 = $1,000. 00; Z4 = $1,000. 00. -710-year, 10% coupon = 6. 75%; 10-year zero = 9. 75%; 5-year zero = 4. 76%; 30-year zero = 32. 19%; $100 perpetuity = 14. 29%. 7-815. 03%. 7-9a. YTM at $829 ? 15%. 7-10a. YTM = 9. 69%. b. CY = 8. 875%; CGY = 0. 816%. 7-11a. YTM = 10. 37%; YTC = 10. 15%; YTC. b. 10. 91%. c. -0. 54% (based on YTM); -0. 76% (based on YTC). 7-12a. YTM = 8%; YTC = 6. 1%. 7-13VB = $974. 42; YTM = 8. 64%. 7-1410. 78%. 7-15a. 5 years. b. YTC = 6. 47%. 7-16$987. 87. 7-17$1,067. 95. 7-188. 88%. 7-19a. ABS = 6. 3%; F = 8%. 7-20a. 8. 35%. b. 8. 13%. 8-1[pic] = 11. 40%; ( = 26. 69%; CV = 2. 34. 8-2bp = 1. 12. 8-3r = 10. 9%. 8-4rM = 11%; r = 12. 2%. 8-5a. = 1. b. r = 13%. 8-6a. [pic]Y = 14%. b. (X = 12. 20%. 8-7bp = 0. 7625; rp = 12. 1%. 8-8b = 1. 33. 8-94. 5%. 8-104. 2%. 8-11r = 17. 05%. 8-12rM – rRF = 4. 375%. 8-13a. ri = 15. 5%. b(1). rM = 15%; ri = 16. 5%. c(1). ri = 18. 1%. 8-14bN = 1. 16. 8-157. 2%. 8-16rp = 11. 75%. 8-171. 7275. 8-18a. $0. 5 million. d(2). 15%. 8-19a. CVX = 3. 5; CVY = 2. 0. c. rX = 10. 5%; rY = 12%. d. Stock Y. e. rp = 10. 875%. 8-20a. rA = 11. 30%. c. (A = 20. 8%; (p = 20. 1%. 8-21a. ri = 6% + (5%)bi. b. 15%. c. Indifference rate = 16%. 9-1D1 = $1. 6050; D3 = $1. 8376; D5 = $2. 0259. 9-2[pic] = $6. 25. 9-3[pic] = $21. 20; rs = 11. 30%. 9-4b. $37. 80. c. 34. 09. 9-5$60. 9-6rp = 8. 33%. 9-7a. 13. 33%. b. 10%. c. 8%. d. 5. 71%. 9-8a. $125. b. $83. 33. 9-9a. 10%. b. 10. 38%. 9-10$23. 75. 9 -11$13. 11. 9-12a(1). $9. 50. a(2). $13. 33. a(3). $21. 00. a(4). $44. 00. b(1). Undefined. b(2). -$48. 00, which is nonsense. 9-13a. rC = 8. 6%; rD = 5%. b. No; [pic] = $32. 61. 9-14[pic] = $27. 32. 9-15a. P0 = $32. 14. b. P0 = $37. 50. c. P0 = $50. 00. d. P0 = $78. 28. 9-16P0 = $19. 89. 9-17a. $713. 33 million. b. $527. 89 million. c. $42. 79. 9-186. 25%. 9-19a. $2. 10; $2. 205; $2. 31525. b. PV = $5. 29. c. $24. 72. d. $30. 00. e. $30. 00 9-20a. P0 = $54. 11; D1/P0 = 3. 55%; CGY = 6. 45%. 9-21a. 24,112,308. b. $321,000,000. c. $228,113,612. d. $16. 81. 9-22$35. 00. 9-23a. New price = $44. 26. b. beta = 0. 5107. 9-24a. $2. 01; $2. 31; $2. 66; $3. 06; $3. 52. b. P0 = $39. 43. c. D1/P0 2006 = 5. 10%; CGY2006 = 6. 9%; D1/P0 2011 = 7. 00%; CGY2011 = 5%. 10-1rd(1 – T) = 7. 80%. 10-2rp = 8%. 10-3rs = 13%. 10-4rs = 15%; re = 16. 11%. 10-5Projects A through E should be accepted. 10-6a. rs = 16. 3%. b. rs = 15. 4%. c. rs = 16%. d. rs AVG = 15. 9%. 10-7a. rs = 14. 83%. b. F = 10%. c. re = 15. 81%. 10-8rs = 16. 51%; WACC = 12. 79%. 10-9WACC = 12. 72%. 10-10WACC = 11. 4%. 10-11wd = 20%. 10-12a. rs = 14. 40%. b. WACC = 10. 62%. c.Project A. 10-13re = 17. 26%. 10-1411. 94%. 10-15a. g = 9. 10%. b. Payout = 50. 39%. 10-16a. g = 8%. b. D1 = $2. 81. c. rs = 15. 81%. 10-17a. g = 3%. b. EPS1 = $5. 562. 10-18a. rd = 7%; rp = 10. 20%; rs = 15. 72%. b. WACC = 13. 86%. c. Projects 1 and 2 will be accepted. 10-19a. Projects A, C, E, F, and H should be accepted. b. Projects A, F, and H should be accepted; $12 million. c. Projects A, C, F, and H should be accepted; $15 million. 10-20a. rd(1 – T) = 5. 4%; rs = 14. 6%. b. WACC = 10. 92%. 11-1NPV = $7,486. 68. 11-2IRR = 16%. 11-3MIRR = 13. 89%. 11-44. 34 years. 11-5DPP = 6. 51 years. 11-6a. 5%: NPVA = $3. 52; NPVB = $2. 87. 0%: NPVA = $0. 58; NPVB = $1. 04. 15%: NPVA = -$1. 91; NPVB = -$0. 55. b. IRRA = 11. 10%; IRRB = 13. 18%. c. 5%: Choose A; 10%: Choose B; 15%: Do not choose either one. 11-7a. NPVA = $866. 16; IRRA = 19. 86%; MIRRA = 17. 12%; PaybackA = 3 yrs; Discounted Payback = 4. 17 yrs; NPVB = $1,225. 25; IRRB = 16. 80%; MIRRB = 15. 51%; PaybackB = 3. 21 yrs; Discounted Payback = 4. 58 yrs. 11-8a. Without mitigation: NPV = $12. 10 million; With mitigation: NPV = $5. 70 million. 11-9a. Without mitigation: NPV = $15. 95 million; With mitigation: NPV = -$11. 25 million. 11-10Project A; NPVA = $30. 16. 11-11NPVS = $448. 86; NPVL = $607. 0; Accept Project L. 11-12IRRL = 11. 74%. 11-13MIRRX = 13. 59%. 11-14a. HCC; PV of costs = -$805,009. 87. c. HCC; PV of costs = -$767,607. 75. LCC; PV of costs = -$686,627. 14. 11-15a. IRRA = 20%; IRRB = 16. 7%; Crossover rate ? 16%. 11-16a. NPVA = $14,486,808; NPVB = $11,156,893; IRRA = 15. 03%; IRRB = 22. 26%. b. Crossover rate ? 12%. 11-17a. NPVA = $200. 41; NPVB = $145. 93. b. IRRA = 18. 1%; IRRB = 24. 0%. c. MIRRA = 15. 10%; MIRRB = 17. 03%. f. MIRRA = 18. 05%; MIRRB = 20. 48%. 11-18a. No; PVOld = -$89,910. 08; PVNew = -$94,611. 45. b. $2,470. 80. c. 22. 94%. 11-19b. NPV10% = -$99,174; NPV20% = $500,000. d. 9. 54%; 22. 7%. 11-20$10,239. 20. 11-21MIRR = 10. 93%. 11-22$250. 01. 12-1a. $12,000,000. 12-2a. $2,600,000. 12-3$4,600,000. 12-4b. Accelerated method; $12,781. 64. 12-5E(NPV) = $3,000,000; (NPV = $23. 622 million; CV = 7. 874. 12-6a. -$178,000. b. $52,440; $60,600; $40,200. c. $48,760. d. NPV = -$19,549; Do not purchase. 12-7b. -$126,000. c. $42,518; $47,579; $34,926. d. $50,702. e. NPV = $10,841; Purchase. 12-8a. Expected CFA = $6,750; Expected CFB = $7,650; CVA = 0. 0703. b. NPVA = $10,036; NPVB = $11,624. 12-9NPV5 = $2,211; NPV4 = -$2,081; NPV8 = $13,329. 12-10a. NPV = $37,035. 13. b. +20%: $77,975. 63; -20%: NPV = -$3,905. 37. c.E(NPV) = $34,800. 21; (NPV = $35,967. 84; CV = 1. 03. 13-1a. E(NPV) = -$446,998. 50. b. E(NPV) = $2,806,803. 16. c. $3,253,801. 66. 13-2a. Project B; NPVB = $2,679. 46. b. Project A; NPVA = $3,773. 65. c. Project A; EAAA = $1,190. 48. 13-3NPV190-3 = $20,070; NPV360-6 = $22,256. 13-4A; EAAA = $1,407. 85. 1 3-5Projects A, B, C, and D; Optimal capital budget = $3,900000. 13-6NPVA = $9. 93 million. 13-7Machine B; Extended NPVB = $3. 67 million. 13-8EAAY = $7,433. 12. 13-9Wait; NPV = $2,212,964. 13-10No, NPV3 = $1,307. 29. 13-11a. Accept A, B, C, D, and E; Capital budget = $5,250,000. b. Accept A, B, D, and E; Capital budget = $4,000,000. c.Accept B, C, D, E, F, and G; Capital budget = $6,000,000. 13-12a. NPV = $4. 6795 million. b. No, NPV = $3. 2083 million. c. 0. 13-13a. NPV = -$2,113,481. 31. b. NPV = $1,973,037. 39. c. E(NPV) = -$70,221. 96. d. E(NPV) = $832,947. 27. e. $1,116,071. 43. 14-1QBE = 500,000. 14-230% debt and 70% equity. 14-3a. E(EPSC) = $5. 10. 14-4bU = 1. 0435. 14-5a. ROELL = 14. 6%; ROEHL = 16. 8%. b. ROELL = 16. 5%. 14-6a(1). -$60,000. b. QBE = 14,000. 14-7No leverage: ROE = 10. 5%; ( = 5. 4%; CV = 0. 51; 60% leverage: ROE = 13. 7%; ( = 13. 5%; CV = 0. 99. 14-8rs = 17%. 14-9a. P0 = $25. b. P0 = $25. 81. 14-10a. FCA = $80,000; VA = $4. 80/unit; PA = $8. 0/unit. 14-11a. 10. 96%. b. 1. 25. c. 1. 086957. d. 14. 13%. e. 10. 76%. 14-12a. EPSOld = $2. 04; New: EPSD = $4. 74; EPSS = $3. 27. b. 339,750 units. c. QNew, Debt = 272,250 units. 14-13Debt used: E(EPS) = $5. 78; (EPS = $1. 05; E(TIE) = 3. 49(. Stock used: E(EPS) = $5. 51; (EPS = $0. 85; E(TIE) = 6. 00(. 15-1Payout = 55%. 15-2P0 = $60. 15-3P0 = $40. 15-4D0 = $3. 44. 15-5$3,250,000. 15-6Payout = 31. 39%. 15-7a. $1. 44. b. 3%. c. $1. 20. d. 33? %. 15-8a. 12%. b. 18%. c. 6%; 18%. d. 6%. e. 28,800 new shares; $0. 13 per share. 15-9a(1). $3,960,000. a(2). $4,800,000. a(3). $9,360,000. a(4). Regular = $3,960,000; Extra = $5,400,000. c. 5%. d. 15%. 16-1103. 41 days; 86. 99 days; $400,000; $32,000. 16-273 days; 30 days; $1,178,082. 16-3$1,205,479; 20. 5%; 22. 4%; 10. 47%; bank debt. 16-4a. 83 days. b. $356,250. c. 4. 87(. 16-5a. DSO = 28 days. b. A/R = $70,000. 16-6a. 32 days. b. $288,000. c. $45,000. d(1). 30. d(2). $378,000. 16-7a. 57. 33 days. b(1). 2(. b(2). 12%. c(1). 46. 5 days. c(2). 2. 1262(. c(3 ). 12. 76%. 16-8a. ROET = 11. 75%; ROEM = 10. 80%; ROER = 9. 16%. 16-9b. $420,000. c. $35,000. 16-10a. Oct. loan = $22,800. 17-1AFN = $410,000. 17-2AFN = $610,000. 17-3AFN = $200,000. 17-4a. $133. 50 million. b. 39. 06%. 17-5a. $5,555,555,556. b. 30. 6%. c. $13,600,000. 7-6$67 million; 5. 01. 17-7$156 million. 17-8a. $480,000. b. $18,750. 17-9? S = $68,965. 52. 17-10$34. 338 million; 34. 97 ? 35 days. 17-11$19. 10625 million; 6. 0451. 17-12a. $2,500,000,000. b. 24%. c. $24,000,000. 17-13a. AFN = $128,783. b. 3. 45%. 17-14a. 33%. b. AFN = $2,549. c. ROE = 13. 06%. 18-1a. $5. 00. b. $2. 00. 18-2$27. 00; $37. 00. 18-3a, b, and c. 18-4$1. 82. 18-5rd = 5. 95%; $91,236. 18-6b. Futures = +$4,180,346; Bond = -$2,203,701; Net = $1,976,645. 18-7a. $3. 06; $4. 29. b. 16. 67%, 61. 46%; -100%. c. -16. 67%; -100%; 63. 40%. d. No; $30. 00 and $27. 00. e. Yes; $37. 50 and $37. 50. 19-10. 6667 pound per dollar. 9-227. 2436 yen per shekel. 19-31 yen = $0. 00907. 19-41 euro = $0. 68966 or $1 = 1. 45 e uros. 19-5 |Dollars per 1,000 Units of: | |Pounds |Can. Dollars |Euros |Yen |Pesos |Kronas | |$1,747. 10 |$820. 60 |$1,206. 90 |$8. 97 |$93. 10 |$128. 10 | 19-76. 49351 krones. 19-815 kronas per pound. 19-10rNOM-U. S. = 4. 6%. 19-11117 pesos. 19-12b. $1. 6488. 19-13a. $2,772,003. b. $2,777,585. c. $3,333,333. 19-14+$250,000. 19-15b. $19,865. 19-16$468,837,209. 19-17a. $52. 63; 20%. b. 1. 5785 SF per U. S. $. c. 41. 54 Swiss francs; 16. 92%. 20-155. 6%; 50%. 20-2$196. 6. 20-3CR = 25 shares. 20-4a. D/AJ-H = 50%; D/AM-E = 67%. 20-5a. PV cost of leasing = -$954,639; Lease equipment. 20-6a. EV = -$3; EV = $0; EV = $4; EV = $49. d. 9%; $90. 20-8a. PV cost of owning = -$185,112; PV cost of leasing = -$187,534; Purchase loom. 20-9b. Percent ownership: Original = 80%; Plan 1 = 53%; Plans 2 and 3 = 57%. c. EPS0 = $0. 48; EPS1 = $0. 60; EPS2 = $0. 64; EPS3 = $0. 86. d. D/A0 = 73%; D/A1 = 13%; D/A2 = 13%; D/A3 = 48%. 21-1P0 = $37. 04. 21-2P0 = $43. 48. 21-3$37. 04 to $43. 48. 21-4a. 16. 8%. b. V = $14. 93 million. 21-5NPV = -$6,747. 71; Do not purchase. 21-6a. 14%. b. TV = $1,143. 4; V = $877. 2.

Airasia Assessment †Opportunities And Perspectives

Airasia Assessment – Opportunities And Perspectives Tony Fernandes bodies an obligation toward the awareness which alters the apparition in realism. He craving to jump a little-price carrier company and then he makes the good hallucination of the company to lease everyone can hover in realism. Therefore, AirAsia has unceasingly hurled little-cost advertising letters to allow clienteles to like little-cost trips to different chairs. AirAsia’s charges are meaningfully subordinate than other carrier service earners and the websites charges are also inexpensive than the visible-line kiosk fee and gift free stalls raise to give the customers break to like and also for those who cannot give the fee. It is to do the idea everyone can soar in truth. Moreover, he broke the order and cheered employees to tell ready and breakdown the dividers. For example, he sit down in an exposed ground strategy with his employees and also directed his interaction number to his staffs so they can just song, e-mail and text him right and crack it quickly without go through any subdivision. Even the bottommost graded approved can interaction him right through his telephone number, which wealth he gives everyone as like and keen to see their wants. In Edgar Schein’s model, there are three separate planes can detect organizational nation. Firstly any perceptible, explicit or orally identifiable fundamentals that comprise in item in an organization. In AirAsia, their key dye is red which meant with valor and lust. Their new even is look like a vying team Pit Stop Girls, while the other one is a red, meek stock flight uniform that gives weekend rest rovers a calm feel. AirAsia also offers exceptional plans for expecting fares and babies that would flying aboard. Next is the price that founds the organizational nation. In AirAsia, they worth the formation of little-price, extensive-two parts while upholding the excellence of service for tall-tutorial carriers and providing in height-rate and fact-to-fact networks for extended-drag services. The third is the supposed standards of the employees which cannot be unrushed but do make a change to the nation of the organization. In AirAsia, they run a truly good deal and cooperatio n. Sort meek practices to amenities and make available aid to customers in must. A typical of nation that is based on 4 changed natures of organizations had been fashioned by Deal and Kennedy. Each of them concentrations on the hurry at which the organization accepts reaction in the form of loots for members and the near of risks occupied. Deal and Kennedy’s nation that spasms to AirAsia are labor-hard, drama-hard nation, wager-the company nation. The nation of labor-hard, drama-hard has speedy response and low peril which ensuing in strain from assignment rather than doubt. This nation has described high-talking rebirth will be leaded by tall-speed act. AirAsia squat-price cost and cheap vouchers may obtain a lot of draw from many people, follow-on in a fat number of customers. They need to fix any edict usual and distinct care from the customers alone. On the other hand, wager-the company nation has gentle feedback and tall peril which ensuing in strain from tall peril and stay before expressive if actions have remunerated off. The extended opinion is oc cupied, but then did a lot of effort to brand sure belongings go as deliberate. In every carrier company, judgment is actually imperative. If it is late for an extensive period, it will touch the customer and finish with the buyers regret. Employees in AirAsia must exertion firm to improvement the faith of their customers and receive bootees for employees of the month. Moreover, every carrier company former mandatory to familiarize with the customer’s nation. For instance, AirAsia encountered a problematic where many Muslim females from the Middle East criticized that AirAsia attractive unchanging. Concerning organizational building to organizational nation is propagated by Charles Handy. The described nation that spasms with AirAsia are Task nation. Task nation in AirAsia can be defined as where lineups such as the waitperson and the trial to solve definite difficulties. Control is consequential from the team with the know-how to achieve tasks. AirAsia uses a minor team style, with extremely competent employees who study in their field of know-how. Kim Cameron and Robert Quin made an investigation on organizational efficacy and achievement. Cheap value creates division, such as tractability and solidity, as well as interior and outside attention, which are most significant in defining organizational achievement. AirAsia is best suited to Marketplace nation and Coterie nation, where the leaders modest workroom likes hard motorists and welcoming workrooms, where bests act like daddy statistics. It can be understood from their dream and assignment. Their box is to become the chie f low-fee carrier in Asia whereas maintaining the highest quality product using machinery to cut fee to the best company whereby employees are preserved as part of a big household, create a worldwide acknowledged ASEAN badge and portion 3 billion people who are presently underserved with tall deprived connectivity and tall prices. As conclusion, AirAsia Berhad will be the best carrier company due to offering the inexpensive price vouchers and complete the dream of everyone can hover around the world. A good control style touches the entire company and employees to become encourage and invent. Tony Fernandes has positively functional all the four magnitudes of the transformational headship in the carrier business. We believe that AirAsia will be the efficacious carrier company and consider a worldwide acknowledged ASEAN badge.

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Write your own recommendation. What makes you different from other applicants - Essay Example Good communication skills are an indispensable asset (Buzzle). I possessed great verbal and written communication skills. Throughout my high school tenured I have excel in exercises or problems in which I had to demonstrate verbal skills. I have always been very good at oral presentations. I love to write and my technical writing skills are excellent. College prepares a person for the ultimate goal of becoming a part of the workforce. A trend that has influenced the behavior of people in the workforce is a shift from individualism to teamwork. â€Å"The concept of teamwork is very important to the success of any team† (Brianmac). I am a team player. My team skills will enable me to succeed in college. I am an outgoing person and I listen well to people. I like helping people and cooperating in order to get the job done. During my future college career I plan to use these skills to help out my fellow classmates in any way I can. Another attribute or skill that I possess that ma kes me an excellent candidate is my leadership skills. When I have worked in team projects I typically served the role of team leader. I am a hard worker and a dedicated student. Work Cited Page Brianmac.co.uk. 12 December 2010. â€Å"Understanding the Importance of Teamwork.†

Reflective Diary Assignment Example | Topics and Well Written Essays - 1500 words

Reflective Diary - Assignment Example Day 1 Reflection DESCRIPTION What happened? I went to my work area as a customer service representative, where I realized that there was a direct association with resistance to change, specifically with my manager’s unwillingness to cooperate with the workers, even for smaller things, like changing a schedule. FEELINGS What were you thinking & feeling? This is aggravating when working and makes the job harder to complete. It reminds me of the square wheel demonstration where resistance from the manager creates frustrations and harder work for others involved. EVALUATION What was good & bad about the experience? BAD – The manager is inflexible and workers are unable to keep the needed pace because of what has happened, making both the employees and organization suffer. GOOD – I can recognize what the environment is and understand that there is a resistance to change from the manager. There is a direct recognition of Maslow’s matrix (Timm, 1993) with the man ager needing security of a job. ANALYSIS What sense can you make out of the situation? An organization can’t change unless the resistance from everyone stops. Top managers have to recognize the resistance and be pro-active in the change. CONCLUSION What else could you have done? The only thing employees can do is to try to initiate the change by stating the problem to managers. However, this requires a change in the organizational environment. ACTION PLAN If it arose again what would you do? I can respond by making a statement about the need to change. I can also consider talking to other managers about one or two situations that have arisen to grab their attention about the problem. Reflection Day 2 DESCRIPTION What happened? I have talked to other employees about changing managerial job descriptions. The conclusion which I have drawn comes from the horticultural application of the need to ‘make a change’ within the organization (Jenkins, 2006). FEELINGS What we re you thinking & feeling? Urgency first arises with the need to change the organization. This leads into pressure from the awareness of what might happen to my job if change doesn’t occur. I then feel a sense of urgency and begin to communicate with terms such as â€Å"We have to start making changes or the organization won’t grow.† EVALUATION What was good & bad about the experience? BAD – The feelings that arise from the need to change are never followed through. The same problems and sense of resistance within the organization continues to arise. GOOD –I can recognize the patterns that are dangerous to an organization, specifically which can help me in the future. ANALYSIS What sense can you make out of the situation? There is a strong difference between thinking about change and communicating with analysis, as opposed to actually going in and making the change. For the message to communicate to a team, each individual has to have the same resp onses and understanding. CONCLUSION What else could you have done? At this point, there isn’t anything that can be done to change the outcome of the work organization. ACTION PLAN If it arose again what would you do? If an action arose, I would be a part of the plan and make sure to help

Circuit Lab Report Essay Example for Free

Circuit Lab Report Essay Ohm’s Law is V = I * R or in some cases I = V / R. The next two laws were established by a German physicist by the name of Gustav Kirchhoff. Kirchhoff’s first law is his voltage law. Kirchhoff’s Voltage Law (KVL) states that around any loop in a circuit, the voltage rises must equal the voltage drops. The next law that Kirchhoff introduced was his current law. Kirchhoff’s Current Law (KCL) states that the total current entering a junction must equal the total current leaving the junction. These laws, however, cannot be proven or tested without the aid of a multimeter. A multimeter is an instrument designed to measure electric current, voltage, and usually resistance, typically over several ranges of value. The multimeter has different programs to measure voltage, current, resistance, etc. produced from one of two types of circuits. The first type of circuit is a series circuit. A series circuit is a circuit in which the components are arranged end to end in such a way that the electric current flows through the first component, through the next component, and so on, until it reaches the source again. In contrast, a parallel circuit is a circuit in which the has more than one resistor and has multiple paths to move along. The main purpose of this lab was to prove the laws of Ohm and Kirchhoff. On another note, being able to take part in this lab taught my partner and I the fundamental skills of constructing series and parallel circuit and using a multimeter to calculate the current and voltage of a circuit. I believe that if we only have the basic materials to conduct electricity (such as resistors, alligator clip, cords, a multimeter, and a power source), then we can still prove the that the laws that Ohm and Kirchhoff established are in fact reliable sources for calculating data regarding certain electrical circuits. I’ve reached this hypothesis because Ohm’s laws and Kirchhoff’s two laws are supposed to be laws used for any electrical circuits. Based on this, these three laws should be able to be validated with this experiment. Materials Power Source Alligator Clips 1,000 Ohms Resistor 10,000 Ohms Resistor Multimeter Methods Ohm’s Law 1. Assemble circuit as seen in figure 1 and set the multimeter to current 2. install series in the circuit and set the power supply to 3, 4.5, 6, 7.5 3. record number on multimeter and compare to the calculated current using Ohm’s law Kirchhoff’s Voltage Law 1. assemble circuit as seen in figure 2 and set multimeter to volts 2. install in parallel over both resistors and set the power supply to 3, 4.5, 6, 7.5 3. record number on multimeter and see if the total voltage dropped equals voltage added Kirchhoff’s Current Law 1. Assemble circuit as seen in figure 3 and set multimeter back to current 2. install at all three points at both junctions 3. see if the current entering the junction is equal to the current leaving the junctions Discussion Our lab in general, went fairly well. We took our time and did not rush through this lab, so we could get the best results, but we did have some trouble with our Multimeter on more than one occasion. For example, while we were attempting to prove Ohm’s Law and Kirchhoff’s Voltage Law. The Multimeter, at first was acting up and completely just not working, but we then realized that it was not set on the correct measuring task. Then, on the same two labs, we were getting readings from the Multimeter that made no sense. It told us that the current for the circuit was 967.83 Ohms which for the type of circuit that we built, was impossible. After fixing the problem with the Multimeter and proving Ohm’s Law and Kirchhoff’s Voltage Law, we moved onto the Current Law that Kirchhoff established. This time, the problem wasn’t the Multimeter, or the resistors, or the power supply, or anything else. It was us. We were overall a bit confused on how the circuit was created and it took a long time to eventually construct and then prove. Even though the problems were an annoyance, the lab was very insightful and taught us a lot about electric currents and circuits. Conclusion At the conclusion of this experiment, our results supported our hypothesis greatly even though our numbers were not a hundred percent on point. But there is room for error, like the fact that the power supply was not great quality and doesn’t give exactly 3 volts or 4.5 volts or any of that. Also, the resistors are not high-quality resistors and are also worn down from years of use, so they don’t give exactly 1,000 / 10,000 Ohms like we were looking for. Other sources of error included the Multimeter, which was not exact because the Multimeter rounds numbers, the Alligator clips, which are (like the power supply and resistors) not the best and shed energy, and our calculations, which could have suffered from any addition or multiplication or division error.

Advantages And Disadvantages Of Networked Medium Information Technology Essay

Advantages And Disadvantages Of Networked Medium Information Technology Essay Bus networks use a common backbone to connect all devices. A single cable, the backbone functions as a shared communication medium that devices attach or tap into with an interface connector. A device wanting to communicate with another device on the network sends a broadcast message onto the wire that all other devices see, but only the intended recipient actually accepts and processes the message. Ring topology: In a ring network, every device has exactly two neighbors for communication purposes. All messages travel through a ring in the same direction. A failure in any cable or device breaks the loop and can take down the entire network. Star topology: Many home networks use the star topology. A star network features a central connection point called a hub that may be a  hub,  switch  or router. Devices typically connect to the hub with Unshielded Twisted Pair (UTP) Ethernet. Compared to the bus topology, a star network generally requires more cable, but a failure in any star network cable will only take down one computers network access and not the entire LAN. b) Advantages and disadvantages of each medium. Network medium is the physical channel that used for transmission in the network. The types of the medium are: Wire Fiber air Wire: UTP cable is a medium that is composed of pairs of wires.  UTP cable is used in a variety of networks. Each of the eight individual copper wires in UTP cable is covered by an insulating material. In addition, the wires in each pair are twisted around each other. Fiber: Long distance signal transmission. Large Bandwidth, Light Weight, and Small Diameter Long Lengths Easy Installation and Upgrades Non-Conductivity Security Designed for Future Applications Needs Air: Mobility. Elimination of unsightly cables. c) Recommendation for topology and medium to use: Topology: Figure 1.1 : Star topology We select the star topology for this in-house network. Because the star topology is most popular topology for in-house network (LAN). Also we can be benefit by using the star topology in a LAN. Benefits: Information can be easily shared allowing for quick and informed decisions to be made, saving time and money. A more productive and competitive environment is achieved through greater teamwork within the organization. Network-based communication such as email is considerably cheaper than using the phone or fax and sharing resources such as printers gives more efficient use of equipment at lower costs. Standard versions of procedures and directories can be made accessible to everyone. IT administration can be centralised. Data can be backed-up from a single point on a scheduled basis ensuring consistency. Medium: Figure1.2: WI-FI network We select the WI-FI for this in-house network. Because Mobility. Elimination of unsightly cables. Problem Identification: Task 2 10 Marks Investigate the Internet connection requirements for the Fire Department. a) Describe the Internet services that may be required. b) Explain the connection speeds that are suitable for these requirements. c) Find examples of Internet Service Providers (ISPs) that can meet these requirements in your country. d) Make a recommendation to use one ISP based upon the services offered and price charged. Solution of Task 2 a) Hardware and Software Requirements: Computer with either: Windows 95, Windows 98, Windows ME, Windows XP Professional, Windows NT 4.0, Windows 2000, or Windows Server 2003 installed. A CD-ROM drive for the installation compact disc. Adequate disk space for the database, business objects, and Web pages 10 MB free space minimum. Transmission Control Protocol/Internet Protocol installed. A network adapter card and local area network connection. An Internet connection and Internet Protocol address from your Internet Service Provider. Network Adapter board. Figure 2.1: Intranet network system b) Connection speeds requirements: 512 for upload is standard connection for sound only, the much required is 138 kbps, means that 512 138 = 374 kbps free for chat or image. Usually, download > upload is possible for internet provider to have busy server and in this situation you will be connected from phone standard line, with smaller speed. So in this system it demands 512 kbps connection speed. c) Examples of Internet Service Providers in our country: Brack net. Zip. Qubee. Grameen phone Internet. Bangla lion. Recommendation to use the ISP : In this system we select Qubee as out ISP because, Qubee has the solution which is fast and reliable. Very much cost effective. More then it is driven by WI-MAX technology.   And obviously it is portable. There package, Monthly Usage Allowance Speed 5GB 10GB Sky 256 Kbps BDT 850 BDT 950 BDT 1,250 512 Kbps BDT 1,250 BDT 1,450 BDT 2,250 1Mbps BDT 2,250 BDT 2,750 BDT 5,250 and Qubee Modem Tk. 3,000 Modem Installation Free  Ã‚   First months fee payable at the time of signup Problem Identification: Task 3 30 Marks Investigate the methods the Fire Department could implement for two-way voice communications. As a minimum include the following information: a) How each method works (frequencies, full/half duplex, etc). b) Details of the legal requirements for operating the system in your country. c) Costs of setting up and operating the system, including licensing costs, equipment costs, etc. d) Limitations of each method. Provide a recommendation for how voice communications should be set up and run including reasons for this recommendation. Solution of Task 3 Method of full/half duplex system: Half-Duplex: A  half-duplex  system provides for communication in both directions, but only one direction at a time. Typically, once a party begins receiving a signal, it must wait for the transmitter to stop transmitting, before replying. An example of a half-duplex system is a two-party system such as a walkie-talkie style two-way radio, wherein one must use Over or another previously designated command to indicate the end of transmission, and ensure that only one party transmits at a time, because both parties transmit on the same frequency. A good analogy for a half-duplex system would be a one lane road with traffic controllers at each end. Traffic can flow in both directions, but only one direction at a time with this being regulated by the traffic controllers. Full-Duplex: A  full-duplex  system allows communication in both directions, and unlike half-duplex, allows this to happen simultaneously. Land-line telephone networks are full-duplex since they allow both callers to speak and be heard at the same time. A good analogy for a  full-duplex  system would be a two-lane road with one lane for each direction. Examples:  Telephone,  Mobile Phone, etc. Two way radios can be, for instance, designed as full-duplex systems, which transmit on one frequency and receive on a different frequency. This is also called frequency-division duplex. Frequency-division-duplex systems can be extended to farther distances using pairs of simple repeater stations, owing to the fact that the communications transmitted on any one frequency always travel in the same direction. Full-duplex Ethernet connections work by making simultaneous use of all four physical pairs of twisted cable, where two pairs are used for receiving packets and two pairs are used for sending packets, to a directly connected device. This effectively makes the cable itself a collision-free environment and theoretically doubles the maximum bandwidth that can be supported by the connection. There are several benefits to using full duplex over half duplex. First, time is not wasted since no frames need to be retransmitted as there are no collisions. Secondly, full bandwidth is available in both directions because send and receive functions are separated. Third, stations/node do not have to wait until other operations complete their transmission as there is only one transmitter for each twisted pair. Legal requirements for operating the system in our country: 1.1 As per the national frequency allocation plan 2005 (nfap 2005), spectrum from the ism band in 2.4000-2.4835 ghz and 5.725-5.875 ghz is allocated for wi-fi use. 1.2.  Ã‚  Ã‚   Access to the spectrum will be on shared basis. There will be no exclusive assignment to any individual or organizations, whether for private, public or commercial use. 1.3.  Ã‚  Ã‚   Any government or private organization/educational institution/corporate body can establish and use wi-fi network on non commercial/non-profit basis. 1.4.  Ã‚  Ã‚   Household/private users are not required to take any permission from the commission or pay any levy/charge for using wi-fi in the given ism band. 1.5.  Ã‚  Ã‚   Both indoor and outdoor wi-fi is permitted in the given spectrum of ism band. However, the maximum power output for the wi-fi equipment is limited to 1 watt. 1.6.  Ã‚  Ã‚   All commercial wi-fi hotspot operators/service providers shall possess an isp or equivalent license (e.g., bwa license). Existing operators having such license from the commission will be eligible to establish wi-fi network for providing last mile solution. 1.7.  Ã‚  Ã‚   Operators/service providers will submit a detailed list of wi-fi outdoor hotspots to the commission. There will be levy/charges applicable annually for all hotspots. the levy/charge shall be charged as per the rate list published by the commission. 1.8.  Ã‚  Ã‚   All service providers will obtain permission in the form of no objection certificate (noc) from the commission for importation, deployment, use and providing any service with wi-fi equipment. Guideline for application and application form is available at http://www.btrc.gov.bd. Existing ism band operators who wish to adapt their present wi-fi equipment for the same purpose may also be provided permission from the commission on case by case basis. 1.9.  Ã‚  Ã‚   All vendors in possession of dealer possession and radio communication equipment vendor license issued by the commission are eligible to apply for noc for importation and marketing of wi-fi equipment in Bangladesh. 1.10. The commission reserves the right to cancel the permission if any complication arises anytime. c) Costs of setting up and operating the system, including licensing costs, equipment costs: The cost of operating the system: The cost of operating the system Purpose Cost 01. 1pr cross connect wire wh/red red/white 1m feet 3000/= 02. Programming cable for air-phone 1500/= 03. IP network station port 35000/= 04. Controller card f/60 units non scrolling 25000/= 05. Pc-console-software 50000/= 06. Access control keypad f/jb-dv 12000/= 07. Video monitor 15000/= 08. Human (per/month) 5000/= 12. Total 14,6,500/= Table-3.1The cost of operating the system The cost of equipments: The cost of equipments equipments Price 01. Handset spare part f/ie1gd 1500/= 02. Complete handset f/men-na 3000/= 03. Pc-380 select switch pc f/ap-m 1500/= 04. Ja av modulator 12000/= 05. Color mem vandal set 50000/= 06. Access control keypad f/jb-dv 12000/= 07. Door station adaptor f/ 1 door 5000/= 08. C.o. audible ringer 5000/= 09. Calling switch 5000/= 10. Single line auto phone dialer 5000/= 11. Power adapter 1000/= 12. Total 10,1,000/= Table-3.2 The cost of equipments Limitations of each method: During the time when one wave passes through another we say that the waves  interfere. It is really not correct to say that the waves collide or hit, although this is often how such an interaction is termed. When the  crest  of one wave passes through, or is  super positioned  upon, the  crest  of another wave, we say that the waves  constructively interfere. Constructive interference also occurs when the  trough  of one wave is super positioned upon the  trough  of another wave. During any wave interference the shape of the medium is determined by the sum of the separate amplitudes of each wave. We often say that when waves interfere, amplitudes add. Using the arrow buttons step through the above animation to see how the amplitudes add during constructive interference. Notice that in this animation the crest of the red wave constructively interferes with the crest of the blue wave. Recommendation for voice communications set up: Wireless Fidelity, better known as Wi-Fi, is a term used to describe the underlying technology of wireless local area networks based on the Institute of Electrical and Electronics Engineers 802.11 standards. Initially intended to connect mobile computing devices in local area networks, Wi-Fi applications have grown to include various data, voice, and video services such as Internet access and Voice over Internet Protocol. Wi-Fi technology platform is based on single-carrier direct-sequence spread spectrum and multi-carrier Orthogonal Frequency Division Multiplexing radio technologies to transmit and receive signals. Wi-Fi is more commonly used in point-to-multipoint environments to allow extended network connectivity of multiple portable devices such as laptops, telephones, or PDAs. Wi-Fi also allows connectivity in point-to-point mode, which enables devices to directly connect and communicate to each other. A region covered by one or more APs is considered a hotspot. Home networks commonly deploy one AP that is typically connected directly to an Internet service provider , whereas larger networks may require at least several APs positioned in strategic locations to provide flexibility of service to a large number of users. Because of range constraints, Wi-Fi networks are used in localized regions. Figure 3.1: Common Wi-Fi Network Wi-Fi can be used in conjunction with other emerging wireless technologies, such as Worldwide Interoperability for Microwave Access (WiMAX) and Wireless Mesh Networking, to extend the coverage area of terrestrial networks and to provide high-speed mobile data and telecommunications services. For example, WiMAX can be used as a backhaul technology to connect multiple Wi-Fi hotspots with each other and to other parts of the Internet. WiMAX describes the technology behind wireless networks based on the IEEE 802.16 standards. Wi-Fi technology has been highly utilized for many applications such as voice communications, video communications, and various data services. This section describes how Wi-Fi technology supports these applications. The expansion of telecommunications has spawned great need for new technologies to provide sought-after voice communication services. Internet telephony, better known as VoIP, is a technology that allows for transport of voice traffic using an Internet Protocol (IP) network infrastructure. VoIP and Internet telephony have come a long way since their inception, and with the impressive development of Wi-Fi technologies, the popularity of voice communications over wireless will continue to increase. Common VoIP networks consist of the hardware and software enabling the end users to leverage the Internet as the transmission medium for telephone calls. IEEE 802.11 Voice over Wi-Fi is the wireless version of this technology that is designed to work with wireless devices. VoWi-Fi solutions provide mobile users during critical missions with the ability to roam wirelessly. Typically, a VoWi-Fi user device will connect to an AP to authenticate to a designated VoIP network. Once associated to an AP and authenticated to the appropriate network, a user will have the capability of mobile voice communications across enterprise networks, residential broadband networks, or even public/private hotspots. VoWi-Fi products are becoming more advanced and readily available to support various challenging short- and long-term voice service needs, such as in commercial, healthcare, private, and incident site environments. Given the steadily increasing demand for voice services and mobility, wired and wireless VoIP deployments continue to grow and eventually will become more prevalent than traditional circuit switching voice systems. One advantage VoWi-Fi provides over traditional circuit-based voice communications is an ability to easily accommodate user growth in many different operating environments, through software configuration. Typically, physical attributes of circuit-switched voice systems can limit the flexibility of real-time configuration. Deploying a wireless VoIP system can provide significant savings in cost and deployment time when compared with other wireless voice communication solutions. Problem Identification: Task 4 30 Marks Investigate telephone systems available in your country for single-site organisations like the Fire Department. Pay particular attention to: a) The main equipment that would be installed. b) The features available with each system. c) The cost of equipment and installation. d) The cost of operating the system. e) Provide a recommendation for which system to purchase including reasons for this recommendation. Solution of Task 4 a) The main equipment that would be installed: The following equipments are generally installed through telephone systems: 2.4 GHz digital cordless voice transmission, the latest cordless technology Up to 10 cordless handsets can share a single base station Up to 20 voice mailboxes on a single system Speech recognition enables you to control your system with your voice Text to speech synthesis technology enables your system to read your e-mail to you over the phone Smart call forwarding; have your calls forwarded to you when youre on the road Connects to your Windows computer to give you advanced unified messaging and computer telephony features b) Features available with each system: The following features are available with the installed telephone systems: Call Transfer Direct Inward Dialing and Direct Outward Dialing Hunting Line Restriction Station Line Identification Station-to-Station Dialing Centrex with Voice Mail Automatic Callback Call Forwarding-Busy Line Call Forwarding-Dont Answer Call Screen Call Trace Call Waiting-Incoming Directed Call Pickup Direct Inward Dial to Direct Outward Dial Transfer Call Transfer: Transfers calls, even cellular calls, to another line either inside or outside your Centrex system. Direct Inward Dialing and Direct Outward Dialing: Allows you to route calls directly or through an attendant. Hunting: Automatically sends an incoming call from a busy line to the next designated line. Line Restriction: Limits phone access on selected lines so that only authorized numbers or regions can be called. Station Line Identification: Provides a detailed record of calls made by each Centrex station including start time, duration, and toll call numbers. Automatic Callback: Allows a station user to be called when a previously busy station becomes idle. Call Forwarding-Busy Line: Automatically reroutes calls to a designated station or your voice mail if your line is busy. Call Forwarding-Dont Answer: Automatically reroute calls to another phone if you havent responded within a preset number of rings. Call Screen: Manages interruptions by having annoying or harassing calls diverted this feature allows up to ten customer-designated numbers to be routed directly to a prerecorded announcement. Call Trace: Allows you to alert the authorities with useful information when harassing or threatening calls are made to your business. Call Waiting-Incoming: Lets you take a second call if you are already on the line. Directed Call Pickup: Lets you answer a fellow employees line (within the call pickup group) without moving from your desk. Direct Inward Dial to Direct Outward Dial Transfer: Allows you to transfer an incoming direct dialed call to another location, either within the Centrex system or to an outside company, residence, car phone, etc.- instead of having the caller hang up and dial the new number. c) The cost of equipment and installation: Figure 4.1 The cost of equipments equipments Price 01. Handset spare part f/ie1gd 1500/= 02. Complete handset f/men-na 3000/= 03. Pc-380 select switch pc f/ap-m 1500/= 04. Ja av modulator 12000/= 05. Color mem vandal set 50000/= 06. Access control keypad f/jb-dv 12000/= 07. Door station adaptor f/ 1 door 5000/= 08. C.o. audible ringer 5000/= 09. Calling switch 5000/= 10. Single line auto phone dialer 5000/= 11. Power adapter 1000/= 12. Total 101000/= Table-4.1 the cost of equipments d) The cost of operating the system: The cost of operating the system Purpose Cost 01. 1pr cross connect wire wh/red red/white 1m feet 3000/= 02. Programming cable for air-phone 1500/= 03. IP network station port 35000/= 04. Controller card f/60 units non scrolling 25000/= 05. Pc-console-software 50000/= 06. Access control keypad f/jb-dv 12000/= 07. Video monitor 15000/= 08. Human (per/month) 5000/= 12. Total 146500/= Table-4.2The cost of operating the system Problem Identification: Task 5 10 Marks The Fire Department needs to remain operational in the event of a serious incident such as a major terrorist attack or war. Explain the measures you would put in place that would allow the Fire Department to operate in the event of Newtown having no electrical power and fixed telephone lines being broken. Solution of Task 5 Disaster recovery plans are complex, and can ultimately take two years or more to complete. While this can be taken in one way as from a disaster recovery consultant, it also comes from experience. To make a plan for the fire department network to deal with major disasters and also to deal with the short term failure of the system fallowing topics are included 1. Reason for Planning protect human life; recover critical operations; protect competitive position; preserve customer confidence and good will; and protect against litigation. 2. Recognition initial reaction procedures to a disaster report; notification procedures for police, fire, medical; and notification procedures for management. 3. Reaction mobilizing the EMT (executive management team); filing of initial damage assessment reports to the EMT; assisting EMT in preparation of statements; and opening a critical events log for audit purposes. 4. Recovery modified signing authority for equipment purchases; procedures for getting cash; procedures for maintaining physical security; procedures for arranging security at the damaged site; procedures for finding and getting to the recovery center (maps!); and procedures for arranging security at the recovery center. 5. Restoration coordination of restoration of the original site; restoration of electronic equipment; reloading of software; restoration of power, UPS, common building systems; replacement of fire suppression systems; rewiring of the building; restoring the LAN; and restoring the WAN connections. 6. Return to Normal testing procedures for new hardware and software; what constitutes a successful test (before recommitting production); training operations personnel; training employees; scheduling migration back to original site; and coordinating return to original site. 7. Rest and Relax schedule compensatory time off; and make visits to employees in rehab from stress. 8. Re-evaluate and Re-Document review your critical events log; evaluate vendor performance; recognize extraordinary achievements; preparing final review and activity report; and Aid in liability assessments. Problem Identification: Task 6 10 Marks Create a comprehensive, professional report describing your network recommendations. This should include the details of Tasks 1 5, have estimates of cost throughout and have an executive summary at the start giving the key points. Solution of Task 6 In this task I have Investigate the company telephone system requires a central switchboard for the whole building plus direct dialing into each individual member of the company. Typical modern telephone functions such as call waiting, conference calls, etc will be required. Investigate the in-house network (LAN) topology .In this network system we must select a topology and a medium thus we connect our network stations. Also we must provide a recommendation about the topology and media. Possible network topologies for each branch are: BUS RING STAR To setup a company intranet we need to consider the requirements for the media and connector in each implementation. This topic outlines the cable and connector specifications used to support network implementations. Network Media: A star may be wired with twisted-pair ,coax or WI-FI. Recommended: Unshielded Twisted Pair (UTP) Type: Category 5 commonly know as CAT-5 A plan for Advertising Agency network to deal with major disasters and also to deal with the short term failure of the system. It is important that the system can be updated after temporary failure and that data is accessible in the event of a major disaster. Problems are going to occur. Hardware is going to fail. Networks are going to crash. The best thing Advertising Agency can do is plan for the inevitable, implement as many disasters avoidance mechanisms possible and be ready to react quickly when necessary. Some key points include: Implementation physical data security Protect critical systems Conclusion: Completing this work I have a good idea and experience about researching, creating reports, solving problems, on setup Local Area Network that I was required to complete for my assignment. During the completion of the work, I have to face many problems and I learn how to overcome these problems. I hope in future this assignment will help anyone to improve their study on LAN and to apply it on real life. Bibliography

A Nigger No Longer Caged :: Graduate Admissions Essays

A Nigger No Longer Caged I taught myself to read when I was twenty years old. The book I started with was I Know Why the Caged Bird Sings, by Maya Angelou. I was raised in Huntington, West Virginia. Living in Huntington was like living at the bottom of a bottomless pit. The hills defining our valley town were four insurmountable walls, imprisoning me in that special hell reserved for children of miscegenation. My mother had broken one of Huntington's greatest taboos - she had mothered three children by a black man. After three kids and numerous beatings, my mother bravely left him. Disowned by her family and ostracized by the larger white community, her strength did not last long; she started on the long road to alcohol and drug dependency. My mother did not suffer in silence; instead, she passed on to us the tainted wisdom that her parents gave to her. Her most frequent reminder to us was, "You're not worth anything, you will never be worth anything, because you're niggers!" We rarely had food, and many winters we had no working gas for heat or hot water. My mother would conveniently go stay at her boyfriend's for weeks at a time. Sometimes she would leave me ten or fifteen dollars, and I would buy a week's worth of food: cereal and milk, hamburger, bread, and potato chips, and Little Debbie snack cakes. When that ran out, my brothers and I had some pretty crafty ways of finding more: talking my father out of some money, begging, or stealing. My mother had a house in the white part of town, about a block from the geographic dividing line, so we went to the white school. I was one of three blacks in the entire high school. I remember my welcome sign the first day of school: "GO TO HERSHEY HIGH NIGGER" spray painted on my locker, signed in red by the KKK. In my junior year the school decided to celebrate Black History Month by devoting one afternoon's history class to a discussion of Black achievements. I was so anxious and excited. I was hoping to learn something more than the words of Dr. King's "I Have a Dream" speech. My excitement was quickly shot down as my teacher turned to the only Black in the class - me - and asked if I had anything to offer.

Crocs Value Chain Essay -- Business, Manufacturing, Footwear

Crocs Value Chain Crocs entered the shoe market with a new style of brightly colored footwear. Crocs designed and manufactured footwear for all age groups. Utilizing an innovative value chain supported the phenomenal growth of the company. This paper will discuss the company’s leadership, flexible supply chain and product diversification and how these aspects contribute to the overall value chain of the company. The Beginning Crocs began in 2002 by introducing a revolutionary boat shoe. The shoes became successful very quickly and the company founders decided to work with an old friend, Ronald Snyder, who had experience in manufacturing, purchasing companies, and merging the purchased companies (Crocs: Revolutionizing, 2007). One of Snyder’s initial decisions was to buyout the Canadian shoe manufacturer, Finproject NA. Completing this purchase allowed Crocs to control the proprietary material for the shoes. By owning the raw material to manufacture the shoes, Crocs controlled the initial step of the value chain. Once Crocs owned the formula for the shoe resin, the company used this to select contract manufacturers for making the shoes. Crocs were now manufacturing shoes in the original Canada plant as well as a Chinese manufacturing facility. Once the facility in China was established Crocs entered the foreign market. After entering the markets in Asia and China Crocs extended capacity with new contract manufacturers in Florida, Mexico, and Italy (Crocs: Revolutionizing, 2007). The addition of these sites provided a global supply chain which lowered costs and ensured value to consumers (Marks, 2008). A new supply vision The creative supply chain used by Crocs meant the manufacturers of the footwear had to... ...ears, the Crocs model has not proven as effective. Crocs has changed the strategy to accommodation the lower product volumes (Gonzales, 2009). Crocs should evaluate their organizational processes. Some of the processes once utilized by Crocs are no longer as effective. Management must work towards better demand forecasting, collaborating with value chain members, and how to best evaluate performance (Robbins and Coulter, 2009). By integrating all three of these items Crocs will adjust the value chain to support continued success. Finally, Crocs must have enough forward thought to sustain market changes and utilize feedforward control to prevent future problems. The leadership, flexible supply chain and diversification discussed here can still be employed for long term success as long as Crocs is willing to continuously evaluate the current value chain.

Absolute Monarchism Essay -- essays research papers

The prevailing government of Europe from 1900-century back was absolute monarchism, this form of government worked very well considering the belief of all people in god and the teaching. Monarchist use this belief to justify this rule in. if they could make the people believe that they were ordained position by god then they had no worries because the people belief in god was so prevailing that it was not mentionable in private to go against it. Napoleon and Louis XIV were the ideal rules to use this type of ruling. Napoleon and Louis XIV were the same type of rulers by using the divine right monarchy to control the people of their country, which was France. Napoleon and Louis way of ruling and other similarity were so alike that they could have traded their period when they sat at the throne and the people would have not noticed â€Å"I am the state† Louis famous statement which stated that he was the divine right ruler(R 6). . â€Å"Louis XIV justified his absolutism through the belief that God will it such as a divine right monarch ruled with the authority of god and was beholden to no power except that of god†(R 11). The people of France believe in the faith of god church and their religion that no one dared to defy the divine ruler. Louis was determined to control a nation that was unified politically under his rule and religiously under his faith; Catholicism was to be the only accepted religion for the French people. Louis believe that god had sufficiently appointed him to be...

Entrepreneur Biography – Walt Disney

Kenneth Uy 500438690 Entrepreneur’s Biography – Walt Disney Childhood Walter Elias Disney, commonly referred to as Walt Disney, was born on December 5th, 1901 in Chicago, Illinois (Walt Disney Family Museum, 2012). His father Elias Disney was an Irish-Canadian and his mother, Flora Disney, was of German and English descent. His family settled in a village known as Norton Disney in the country of Lincolnshire at the time of birth (Disney, 2000). At the age of four, Disney and his family moved to a farm in Marceline, Missouri, which is where he developed his love for drawing.At the time he paid a retired Doctor by the name of â€Å"Doc† Sherwood to produce images of his horse, Rupert. Later on his interest grew to train development in Marceline, specifically the Topeka and Santa Fe Railway where his uncle Michael Martin was the engineer (Disney, 2000). Four years later, the Disney’s moved to Kansas City where Walt Disney attended the Benton Grammar School. I n school Walt Disney met Walter Pfeiffer who introduced him to the world of vaudeville and motion pictures (Disney, 2000). He continued to emerge himself in art and filmography as he attended courses at the Kansas City Art Institute and went to Electric Park.Adulthood At age 22 Walt Disney left Kansas City and made his way into Hollywood regardless of his insufficient money and materials. With the help of his brother Roy Disney they were able to use their resources and construct a camera to film in their uncles garage. Shortly they received an order from New York to produce the film â€Å"Alice Comedy† and began production (IMDb, 2010). In 1925, Walt married Lillian Bounds, one of his employees, in Lewiston, Idaho and had two daughters named Diane and Sharon Disney (Disney, 2000).Three years had passed and the infamous Mickey Mouse was first portrayed in the silent cartoon â€Å"Plane Crazy† but made his debut in â€Å"Steamboat Willie† which is known as the wor ld’s first fully synchronized sound cartoon. The production Mickey Mouse was the first milestone that began Walt Disney’s progression (Disney, 2000). Soon after, he began the production of full-length animated cartoon that contributed his launch to succession. By the time 1955 had arrive the entire globe had been entertained by Walt Disney’s creations especially with his television programming like â€Å"The Mickey Mouse Club† â€Å"Zorro† and Wonderful World of Color†.On December 15, 1966 Walt Disney had died from Lung Cancer (WDFM, 2012). Education Walt Disney began his early education when he attended Benton Grammar School where he recognizes his ability to draw. Once the family moved to Chicago in 1917, Disney attended McKinley High School in his freshman year and took night courses at the Chicago Art Institute. He returned to Kansas City after a year to begin working as a graphic artist, therefore, Disney had a total of 9 years of formal education (Disney, 2000). Family Walt Disney had a father named Elias Disney and a mother named Flora Disney.He has three brothers Herbert, Raymond, Roy, and Walter. And a sister named Ruth Disney. When he married Lillian Bounds in 1925 they conceived a girl by the name of Diane Disney and adopted a girl named Sharon Disney (IMDb, 2010). Diane married Ron Miller who was former president and chief executive of Walt Disney Productions; and Sharon served as a member of Disney Board of Directors (Disney, 2000) Work Experience As a high school dropout in 1917, Walt Disney tried to join the army but was rejected at the age of 16 for being too young (IMDb, 2010).He then joined the Red Cross for a year as an ambulance driver. Upon his arrival back, he had difficulty finding work as an artist or even as an ambulance driver. He then found temporary work at an Art Studio creating advertisements for newspapers, magazines and movie theatres. He also met his first start-up partner Ubbe Iwerks. F inally, he worked for Kansas City Film Ad Company where he learned all about animation and decided to become an animator (Gabler, 2006). Past Startup Background Iwerks-Disney Commercial Artists† was founded in January 1920 after Walt and Ubbe decided to start their own company (Gabler, 20006). Their company however was a failure and both started to work in animation at the Kansas City Film Ad Company. After learning all about animation, he pursued another start-up with another co-worker Fred Harman. This time he created an animation business and started screening cartoon’s titled â€Å"Laugh-O-Grams† in a local theatre. Following their success, Disney acquired Laugh-O-Gram studios, which soon went bankrupt due to Walt’s poor financial management.Later that year, Walt and his Brother Roy opened Disney Brothers’ Studio in Hollywood, California (WDFM, 2012). He then started selling his produced cartoons to a New York distributor that was a huge success . Everything was going well until Disney found out that his client had hired Walt’s animators under contract and took the rights to his most popular animated characters (Gabler, 2006). Motivation of Startup After losing everything, Walt and Ubbe decided to create another cartoon character now known as Mickey.After creating a series of short cartoons Mickey became the world’s most popular cartoon character in the 1930s. Walt created his first full-length animated musical feature in the production of â€Å"Snow White and the Seven Dwarfs† which exceeded over $1,400,000 in profit (IMDb, 2010). Throughout 1937-1947 he continued to create full-length movies such as â€Å"Pinocchio†, â€Å"Fantasia†, â€Å"Dumbo†, and â€Å"Bambi†. Following his cartoon success, Walt thought it was possible to pursue his dream in creating a theme park and which is now Disneyland.After being rejected approximately 302 times (Cool Pup, 2012) for financing the park, he finally got approved and his venture would allow him to acquire ABC and open his second successful theme park, Disneyworld (JustDisney, 2003). The Walt Disney Company now has approximately 156,000 employees and had almost $41 billion in revenue the previous year (WDFM, 2012). Section 2 Stevenson’s Entrepreneurial Perspective on Walt Disney Note: This section pertains to Walt Disney while he had an influence on the Walt Disney Company until his death in 1966 and not the company at its current state.Strategic Orientation Strategic orientation is defined by Stevenson to be how one formulates strategy (2006). He mentions two styles: Promoter and Trustee and contrasts the two by describing the first as opportunity-driven and the latter as resource-driven. Walt Disney demonstrated many entrepreneurial traits throughout his animation business ventures. Even while working for other ad companies, he always ended up making his own company. I believe Walt Disney’s strat egic orientation strongly reflects that of a promoter.Walt always pursued opportunities in entertainment because while Walt was producing still-cartoons at a previous job, he saw a bigger opportunity in animation and continued to pursue such opportunities as shown in his many transitions in the industry. He then started making short-film cartoons leading him to open his own animation business and acquire a studio (Gabler, 2006). He then saw opportunities by creating full-length feature films and even in creating his own theme park. Stevenson also states that a promoter’s fundamental task is to require the resources to pursue the opportunity.Walt Disney never gave up on Disneyland and was rumored to have been rejected financing for the theme park over 300 times (Cool Pup, 2012) until he struck a deal with ABC who agreed to help finance the park (JustDisney, 2003). He achieved his task and was driven to succeed in his financing. Walt can also be justified as a promoter because he operates in an industry with diminishing opportunity streams. Before his cartoon Mickey Mouse became a famous icon, Walt Disney constantly produced new characters and films to build his company’s reputation. Commitment to OpportunityStevenson’s next concept is described as a person’s willingness to act (2006). Promoters are action-oriented and willing to act in short-time periods to chase their opportunities. He describes promoters to be action-oriented and have heavy involvement in risk management. Conversely, commitment for trustees is often time-consuming and usually takes a longer period of time. Through Walt’s journey we saw him deviate his concentration to many different forms of entertainment. He seemed to be involved with many cartoon characters until the creation of Mickey Mouse that lead to his huge success (IMDb, 2010).Walt’s ventures with his cartoons lead him to movies, television and the creation of the world’s most popular theme park. This revolutionary array of ventures reveals Disney’s commitment to opportunity as a promoter. He remained very action oriented in ensuring that he would follow through until his cartoons succeeded. As well, he was heavily involved in the risk management of his company because nobody was willing to invest in his Disneyland (JustDisney, 2003). He financed a lot of the park through the company and the other half through ABC and was determined to make the park succeed.With the park’s success, Disney had already made plans to commit construction for another one in Florida. His commitment to opportunity attributed largely to his company’s success. Commitment of Resources When it comes to the attainment of resources, Stevenson says that promoters go through many stages of resource commitment with the goal of minimizing resources (2006). On the other hand, trustees will commit upon a larger-scale after careful analysis and single stage commitment. In relati on to Walt, a lot of his projects underwent a series of funding.In his early career as an artist and animator, he had to find a distributor for all his productions (Gabler, 2006) since he could never totally finance his business unless he was selling cartoons. Even after the company’s success and Walter won his first academy award for his creation of Mickey Mouse, when the company transitioned to make its first feature-length film â€Å"Snow White and the Seven Dwarfs† the studio ran out of money (Gabler, 2006). Since there were no formal venture capitalist groups at the time, the only way Walt could raise money was through loans.Eventually the movie would become the largest grossing film of the year (IMDb, 2010). The company went through many stages of funding to finance its various other projects. Similar to Snow White, Disneyland was funded in a similar manner where Walter would seek another loan to cover the costs of creating Disneyland (JustDisney, 2003). His jour ney through the resource commitment process mirrors promoter behaviour because he only sought funding when he needed it at multiple stages. Due to unpredictable resource needs and varied studio costs from film development, from a financial perspective Disney’s company was very chaotic.Control of Resources The use of resources in an organization plays a pivotal role in determining a company’s success. Stevenson describes promoters to only be concerned with their ability to use a resource while trustees seek to control their resources by attaining full ownership (2006). When it comes to the animation business, ownership plays a key role in everyday operations. When Disney lost the rights to one of his most successful characters â€Å"Felix the Cat† (Gabler, 2006), Walt found himself at a standstill.From that moment onward, Walt made sure to maintain full ownership on all his company’s future productions in order to preserve his business and avoid future leg al conflicts. Due to the nature of the business, Walt relied heavily on his staff and had to employ full-time animators who could consistently produce the high quality entertainment the company was known for. As well, in order to make Disneyland and Disneyworld, the company needed to purchase large amounts of land (Gabler, 2006).A promoter style of management does not suit the Walt Disney Company for this section because Walt himself influenced so much of the company and could only have done so through ownership of all his resources. Therefore, Mr. Disney favored the administrative domain because of factors such as power and coordination. Having complete ownership and influence was essential to Disney in order to make sure his vision became a reality. His coordination was also important because it ensured he could take action without further approval from other partners.Management Structures Stevenson’s views on management place relationships at the core of every structure. P romoters rely on receiving valuable information for key actors while trustees rely on formal relationships within the company based on detailed rights and responsibilities. Trustee management is the only applicable management structure for the Walt Disney Company (2006). He states, â€Å"Only in systems where the relationship with resources is based on ownership or employment can resources be organized in a hierarchy† (Stevenson, 2006).With the company’s heavy emphasis on ownership on its productions and land as previously addressed, it is only appropriate that structure is required to delegate roles and responsibilities within the company. Walt’s company demonstrated many things that favour trustee management, the first being the need for clearly defined authority and responsibility and the next to be organizational culture. As the company increased in size, in order to ensure Walt could influence every level of management, there needed to be a formalized hiera rchy common in many large corporations.Walt worked closely with his animators to ensure the company’s productions were under his direct approval (Gabler, 2006). Operating a large company also requires organizational culture because work needs to be formulated into a routine for employees to work within. Reward Philosophy When it comes to rewarding an organization’s employees, Stevenson finds that promoters reward employees based on their contribution and harvesting of value (2006). Investors and owners of the business want to generate returns to ensure they get their money back.Since performance is crucial in determining the success or failure of a start-up, key employees who help generate this value are usually rewarded on their performance. Trustee style management differs because compensation is usually pre-determined because of assigned responsibilities with the exception of small bonuses and promotions (Stevenson, 2006). Walt Disney maintained promoter behaviour b ecause a lot of his employees such as the staff at his studio were hired on salary with bonuses of 20% of profits for the short cartoons (Hill, 2004).At the time, Disney was considered to have the highest paid workers with the best working conditions. Disney embodied the promoter style of management because of factors such as individual expectations and competition. After the success of â€Å"Snow White and the Seven Dwarfs†, Walt was known to have made â€Å"salary adjustments† to animators who he felt did exceptional work (Hill, 2004). As well, Disney strategically offered the best wages and working conditions in order to maintain its talent and attract more talent in a highly competitive industry. Section 3Recommendations for Walt Disney and The Walt Disney Company It is hard make comments and recommendations for one of the greatest and most ambitious entrepreneurs of all time but there a few things I would like to address in areas where I feel could have been handl ed differently. Although Disney operated in a completely different time period of more than 50 years ago, I will do my best to acknowledge the time period and his situation. 1. During the release of his first feature film â€Å"Snow White and the Seven Dwarfs† and his change to the reward policy, the strike of his whole nimation staff could have put his business into financial hardship. In order to avoid situations like these, Disney should have reported or at the very least consulted with HR professionals on a better payment plan to reward employees during successful productions, and also support employees adequately through financial hardship as experienced in World War 2. Because his employees are crucial to the operation of the business, risky financial moves can have extreme and immediate effects on the company’s future. 2. The company found itself out of funds several times due to poor financial management.As previously mentioned, the company went bankrupt during the production of â€Å"Snow White and the Seven Dwarfs† and it also did not have enough funds to complete Disneyland on its own. Although the company succeeded in both ventures, I believe that Walt Disney was poor at managing the company’s funds. In his earliest of animation days, his Laugh-O-Gram studios also went bankrupt as a result of overpaying his employees. He also tried to negotiate a price increase on his contract that actually resulted in termination of the contract, the loss of his production â€Å"Alice Comedies† and even most of his animation staff.He again was close to bankrupt and might have stayed that way had it not been for the creation his iconic â€Å"Mickey Mouse†. I believe that if there were a person with more financial experience and knowledge similar to the modern day equivalent to a Chief Financial Officer, he would have not reached such plateaus. As well if he had stronger legal advisors, he could have probably earned the righ ts back to his character and staff or at least won a settlement.While CFOs and law firms aren’t as readily available back then as they were today, I believe one thing that Disney lacked was his ability to have a reliable and knowledgeable management team that could have saved him a lot of hardship. Walt Disney is a remarkable man whose life work influenced the way people viewed imagination. His life dedication to providing entertainment was what helped him reach an entrepreneurial pinnacle. Arising from all failures and demonstrating a life committed to fulfilling his life goals lead him to be one of the most influential entrepreneurs of all time.References Cool Pup. (2012). Disneyland. In  Daily Celebrations. Retrieved November 5, 2012, from http://www. dailycelebrations. com/071799. htm Gabler, N. (2006). Walt Disney: The Triumph of the American Imagination. IMDb. (2010). Walt Disney Biography. In  IMDb. Retrieved November 6, 2012, from http://www. imdb. com/name/nm0000 370/bio Hill, J. (2004, June). Another look backat the 1941 Disney Studio Strike. In  Jim Hill Media. Retrieved November 6, 2012, from http://jimhillmedia. com/alumni1/b/wade_sampson/archive/2004/06/07/1204. aspx#. UJqz-Gl25YQ JustDisney. 2003). Disneyland's History. In  Disneyland History. Retrieved November 7, 2012, from http://www. justdisney. com/disneyland/history. html Stevenson, H. H. (2006, April 13). A Perspective on Entrepreneurship. Harvard Business School,  9(131), 1-12. The Walt Disney Family Museum. (2012). About Walt Disney. In  Timeline. Retrieved November 6, 2012, from http://www. waltdisney. com/timeline#41 Walt Disney. (2000). In  Walt Disney Biography. Retrieved November 5, 2012, from http://www. norsknettskole. no/fag/ressurser/itstud/fuv/gunnargrodal/bio. htm