Acquisition Strategy Essay

In today’s market it is very important for company’s to remain competive in order to maintain an edge over its competitors. The days that a company can rely on its reputation to continue making profits are gone. Today, everyone is looking to save money by buying less expensive items like economy brands, considering that the diffrences between the two products are similar and the features that are not offered are of little value. This will make a consumer buy the less expensive item. Like consumers, companies are also looking to save money and maximize profit. One way of doing this is through acquisition strategies. Combining the operations of two companies is a very good option for companies that are looking to stregnthening the company’s competincies and competitiveness, this will ultimately open new market opportunities (Gamble/Thompson, p. 119). The benefit of this type of strategy, unlike alliances, they do not go far enough for the resources needed and a very important factor, ownership. In the following paragraphs, I will give two examples of two different companies in different industries and explain how they will stregnthen their market position through acquisiton, to include resources and competive capabilities. The first example I will use it Wells Fargo & Co. results from the acquisition of Wachovia Corporation. During the economic crisis Wells Fargo & Co. acquired Wachovia Corp in a bail out to keep the bank from going under. At one point Wachovia was Wells Fargo’s competitor. After the acquisiton it made Wells Fargo a banking giant absorbing its competion. Earnings from that acquisition have earned Wells Fargo Financial & Co. a 21% earnings since the acquistion, reporting record profits. This acquistion has allowed them to gain market share, this was mostly created by winning new customers. Mortgage loans was the top earner and low rates and prices of homes falling to record lows has allowed the company to grow even in these tough economic times. Additionally, the acquisition of Wacovia Corp. moves Wells Fargo as the second largest bank, second only to Bank of America. The strategy has allowed them to acquire a larger share of the financial market. The second company I will discuss is DuPont Nutrition & Health and Applied BioSciences acquisition of Danisco Corp. Once a long time partner of DuPont, is a very good and proven company, is a good fit because of their proven market science business and offers clear synergy for them. The acquisition will make them the clear leader in industrial biotechnology with inovations in global challenges in food production and fossil fuel. This effort will position the company ahead of all rivals addressing dramatic growth in human population in the years to come. Danisco is well established company that has research and application capabilities. This will create a more cost efficient operation of the combined companies. The applications do not need to be duplicated, meaning their buying power will increase, administrative functions do not need to be replicated, and will further create more cost savings by downsizing. This acquisition will also allow them to enter new product categories, for example 65% of Danisco’s revenue comes from specialty foods, product substitution items such as sweetners and enablers. This will allow them to enter renewable materials and addressing food needs. In conclusion, I have discussed Wells Fargo & Co. , and how their acquisition of Wachovia Corp has allowed the company to gain a larger geographic coverage has helped it create a more cost efficient operation by allowing to cut overhead costs by elliminating duplicate processes. Second, DuPont Nutrition & Health and Applied BioSciences acquisition of Danisco Corporation has allowed DuPont has made them the clear leader in industrial biotechnology with inovations in global challenges in food production and fossil fuel.

Genetic Modified Food

Introduction Food is any material consumed to provide nutritional support for the body which it is probably from plant or animal that holds important nutrients, such as carbohydrates, proteins, vitamins, or minerals (Shah, 2006). Despite the importance of the food but it will be harmful in human health if it was genetically modified. So, genetically modified Food, is food that has been well genetically altered.Furthermore, they are foods products from genetically modified organisms that have had their DNA changed through genetic engineering which the DNA is the chemical inside the nucleus of a cell that transmits the genetic orders for making living organisms. So, Genetic engineering can be completed with plants and animals like for example, the most mutual modified food that resulting from plants are soybean, canola, cotton seed oil and corn (Shah, 2006).In addition, the benefits of genetically engineered food such as food will be tastier, more nutritious food, the plants and animal s grow faster, some medicinal foods that could be used as vaccines and decreased use of pesticides (Shah, 2006). This assignment will shed the light on the history of GMF, the advantages and disadvantages, discussing the role of the food industry in the marketing of the GMF and perform the opinions of government and food companies about GMF. To define more genetically modified food, which it is food that produced by changing the DNA of an organism, which probably done with a plant that make food.It begins by inserting a gene in organism's genome to create new characteristics (Organization, 2012). Moreover, these characteristics contain a confrontation to wildflowers, pests or herbicides, growth rate will increase faster and improved nutrients. Moreover, people can produce hereditarily modified food by altering the amount of the genes in an organism by simply adjusting the genes. Furthermore, the history of genetically modified food started since scientists discovered that DNA can tr ansmit between organisms in 1946.The first product of genetically modified food crop was a tomato created by California Company in the early1990s which they called it Flavr Savr tomato that it have been submitted to the US food and drug administration in 1992 (Organization, 2012). However the aspect of GM food has received much criticism after marketable introduction of these in the form of making them accessible to the general public. The food industry has grown and stabilized strongly, because of the increasing demand of the population for food resources (Nataliya Moglina, 2010).To keep up with it, the food providing companies or farmers had to adjust in their production plans, one of the methods besides good marketing, was to genetically modify the crops of plants and the meat sources (Nataliya Moglina, 2010). Over the past decade, consumers have showed a high level of anxiety about the safety of the food source, which consumers asked for assurances that food is free from materia ls such as pesticides, hormones and antibiotics. Moreover, some consumers accepted on the benefits of chemicals in the food production that resulted in cosmetically perfect fruits and vegetables at low price.It has been seen in the previous researches that the worldwide consumers respond negatively towards food products made from genetically modified food which they try to avoid taking and consuming GMF because of the risks and negative effects on the human health. Some studies in US showed a higher acceptance from consumers on biotechnology and genetically modified food than other countries. Furthermore, China, India, Philippines, Malaysia and Indonesia are the main countries are working on modified crops in Asia.Nevertheless, in developing countries only little acceptance have been showed toward genetically modified food. In my opinion, most of the consumers they mostly refuse using genetically modified food because of the risks on their health such as liver cancer, allergies, hea rt diseases, and colon cancer and it may damage nerves system. However, the marketing is promoting the product and attract people to buy these products even if they are harmful on their health also it help them to achieve more sales.Recently, genetic modified food is being consumed in a big amount to provide people's needs of food according to the increasing numbers of the population, which it produces cheap, safe and nutritious foods. The advantages and disadvantages of GMF caused diverse opinions and arguments in different countries (Amin, 2011). So the advantages of GM foods such as, good quality of food, offer inexpensive and nutritious food like carrots with more antioxidants, provide food with a greater shelf life like tomatoes hat taste better and last longer, produce food with medicinal benefits for instance bananas with bacterial or rotavirus antigens, and produce crops that require less chemical application, such as herbicide resistant canola. Despite the many advantages t o genetically modified food there are also several disadvantages. The main impact is that genetically modified foods are original and it is difficult to know all the coming effects it might be on human health and environment (Amin, 2011).Another disadvantage is the possible impact it could have to human health, like for example some of new genes that are inserted into food can be resilient to specific antibiotics, so when we eat these products the effectiveness of antibiotics might be reduced. Also new allergens could be suddenly created and well-known allergens might be transmitted to new foods, for instance when the genetic factor of the peanuts was taken and put in a tomato so people that are allergic to peanuts could be allergic also to tomato (Amin, 2011).Genetically modified food endures a debatable subject which some experts trust that the future of GM crops is at a crossroad (Biggs, 2007). Some genetic modification of food has helped producers more than consumers because it gives more products faster which can be sold to the consumers and most of the consumers cannot accept to get specific nutrients from genetically modified food (Biggs, 2007). So, the future of GM foods seems to depend on purpose of issues linked to cross-pollination and change of existing crops, the viability of small farms, consumer benefits, and other worries (Biggs, 2007).After the appearance of genetically modified food, some people were against of using these products according to the risks on their health which the other side of people was with using these products because of the advantages (Biggs, 2007). This issue leaded to debates and different arguments such as, the government was against of using these products so it has decided to introduce classification of genetically modified food to protect consumers from misuses of producers and providers of biotechnology products ( council, 2007) .Also it will allow for the consumers to choose between genetically modified or non-Gen etically modified food. So the labeling polices depend on the supposition that the industry is incapable or unwilling to recognize the risks that inherited in their GMF products (council, 2007). Thus, the government gets involved in the market with obligatory labeling policies to ensure consumer protection from possible health and safety risks related with depletion of GM food.Moreover, environmental activities, religious administrations, professional associations and other scientists have worries about GM food so it seems that everybody has a strong view which most worries of GM food separated into environmental dangers, human health risks and economic concerns (Herbert, 2005). From my side am impartial, I command and approve with some of the advantages that GMF have, like feeding the hungry mass of people and enriching the world economy by constantly providing the food supply to sell and buy.On the other hand I find the cons are more harmful and despicable, the gene engineering of an organisms is harmful to the human body in an indirect way, no proven studies but some rare cases brings the big question. Conclusion In conclusion, hereditarily modified food they are food that provided by crops and their genetic has been changed to develop their agricultural qualities. As I have mentioned about the positive and negative impact such as the grow rate of the plants will be faster some medicinal foods that could be used as vaccines and decreased use of pesticides.However, the disadvantages mostly effects on people's health and cause disease due to misusing of herbicides on the crops. So in my opinion GMF has the potential to solve several of the world's hunger and starvation problems and to protect the environment from the over using of chemical pesticides and herbicides and GMF should be a good solution for the world's increasing population because it reached six billion and it might double in the coming 50 years and according to growing population many people wil l die and mare children will be suffer starvation because of food shortage.References Amin, L. (2011, September 29). Risks and benefits of genetically modified food. pp. 1-3. Association, N. S. (2007, March 6). Genetically Modified Crops . pp. 4-5. Biggs, A. (2007). Biology . New York: National Geographic . Chapman, J. (2006, December 2). History of genetically modified food. Retrieved November 24, 2012, from

Essay on television news Essay

Television news and current affair programs have become an essential part of our everyday lives in this cutting edge society today. Nine Network’s A Current Affair program is a 30-minute long current affairs program covering politics, crime, human rights, science, technology and many other areas. It is an example of a consumer-oriented program, which seeks to appeal to viewers to get the ratings and thereby generate revenue through advertising for the Nine Network. I will use this current affairs program broadcast on the 2nd November to discuss how the codes of television reinforce the narrative elements in one of the stories presented on the television screen. The current affair story I have chosen which runs for five minutes and eight seconds is about an out-of-control 15-year old Stacey who has been locked in a â€Å"wire cage† for her past seven years. She is severely intellectually handicapped and her mother is forced to lock her up for her own safety reasons. She claims that the Government does not provide sufficient disabilities services and resources in areas such as rural South Australia. Throughout the story, viewers are positioned to sympathize with Stacey’s mother, Kerry. She is portrayed as a victim of the lack of disabilities services, desperately pleading the government to take action. The different camera angles and movement, selection of film footage, background music, voice-overs and word choice are examples of techniques used to enhance the narrative elements in the story such as characterization, point of view, setting, structure and many more. The two main production codes I will focus on are technical and audio codes. The characters of this story include the current affair presenter, Stacey the 15-year old girl, her mother Kerry, a family friend, South Australia Disability Service Minister and Chris Hill the on-spot reporter and interviewee. Various shots such as close-up, longand panning shots are used to show the main character of the story Stacey behind her â€Å"cage†. She is shown clinging on to the â€Å"wire cage† like a prisoner without freedom. Viewers are in this way positioned to feel sorry for her. We normally associate imprisonment with crime and wrong doings. Here, we are presented with an innocent victim suffering from Down syndrome, being denied the basic human right of freedom through no fault of her own. There are also shots filming interviews with Stacey’s mum, Kerry. The close-up shots showing Kerry’s weary and desperate face suggests to viewers that she is also suffering from locking her daughter up in the cage for her own safety and this allows viewers to observe the physical effect of the stressful situation. This makes viewers feel sorry for her as the mother of a handicapped daughter. The shots showing South Australia’s Disability Service Minister busy flipping through his pile of work tells viewers that the minister is very busy and he has other community issues to look at. It shows that the need to help Stacey is low down in the minister’s listed priorities. Viewers react by feeling angered because the government cannot provide these services for families in need. Seeing the Minister in his city office environment contrasted with the rural setting of the Stacey’s â€Å"cage†, viewers can see the huge gap in the importance placed in addressing this problem. The melancholy background music, designed to raise emotions, is also played whenever Stacey appears on the scene, further emphasizing the sufferings of the mother and daughter. The setting of the story is also enhanced by shots showing rural South Australia and Stacey’s â€Å"wire cage†. The long shots are used to show location as isolated and deserted from the major town centres and the voice of Chris Hill further enhances it. There are footages showing the surroundings of the Stacey’s house, suggesting the danger Stacey faces if she is let loosed. The close up shots of the wire cage and the faces behind the â€Å"cage†; and the repetition shots of the opening of the â€Å"cage† reinforce the â€Å"prison† setting Stacey has been living in for the past seven years. The point of view in the story is 90% focused on Stacey’s mother, Kerry and their family friend. Viewers are persuaded to side with them in arguing against the government for the lack of disability services such as day care programs, transport services and other disability services. The footage showing Stacey interacting with the camera as she interrupts the â€Å"normal† narrative flow of the camera work by covering the camera lens show her behaviour as uncontrolled and undisciplined. It also demonstrates clearly to the viewers that Stacey has a lack of understanding of the appropriate behaviour and responses in the world around her. This reinforces the viewpoint of Stacey’s mother that this problem is not exaggerated. The current affair presenter also commented on the â€Å"lack of support provided†, further enhancing that the government is not doing anything. The sympathetic tone is created through the selection of words chosen by the voice-over and presenter. For example, Stacey home is described as a â€Å"domestic detention centre†. This emotive language is normally associated with asylum seekers arriving in our country. Other selective words and adjectives used include â€Å"barbaric† when referred to the action of locking Stacey up and â€Å"Wire Cage† when referred to Stacey’s house. This colourful language is used to make the story seem more interesting and touching. There is also a personal testimony recounting an incident from the past to demonstrate the past and present difficulties faced by Kerry and many other interviews to make the story more truthful. Values and attitudes of the Australian government are also reinforced using technical and audio codes in the story. The Australian Government likes to think of themselves as caring, helpful and supportive. They believe that they have one of the best healthcare systems in the world. This story sets on to show one of the examples of the system failing to provide services for all in the community. In conclusion, the current affair story is put together using the different narrative techniques such as characterization, setting, point of view and tone and it is reinforced through the use of television production codes such as technical and audio codes.

Insomnia Term Paper Example | Topics and Well Written Essays - 2500 words

Insomnia - Term Paper Example Insomnia is a state that affects numerous individuals, most of them are not even aware of the condition they are suffering from insomnia or sleeplessness. Sleep deprivation causes rigorous exhaustion, nervousness, hopelessness and poor attentiveness. Insomnia is grave, though not fatal. Scarcity and lack of sleep leads to a lonesome and awful state of mind. If the condition continues a person may tend to develop compromised living condition or disturbed psychological behaviour. The condition is become severe and taking a shape of an epidemic in United States. The data obtained from National Sleep Foundation portrays that around 47 million American adults are at potential risk of physical and emotional disturbance due to lack of sleep. The results are alarming as per the data procured by National Institutes of Health approximated that 50 to 70 million Americans belonging to all ages experience restless sleep (Morin, 2000). Insomnia is characteristically persuaded by practical impairment while wakeful. Under the condition of insomnia a person feels distressed and finds difficult to instigate and continue sleep or non recuperative sleep connected with impairment of daytime performance or manifest anguish for more than a month (Morin, 2000). 1. Transient insomnia: It stays only for a short duration probably for a week. It may be associated with change of place, ill-health, worry, anxiety, depression or a condition of stress. As soon as the circumstances become normal sleep deprivation vanishes (Thomas, 2004). 3. Chronic insomnia: It is sleeplessness lasting for more than a month. It could be due to some other disorders encompassing muscular distress, phantasms, mental stress, and thereby enhanced alertness is displayed (Thomas, 2004). Around 10% of the population suffering from insomnia have chronic insomnia. The percentage of women (40%) is more as compared to men (30%). It is therefore suggested

Why is strategy important to business Essay Example | Topics and Well Written Essays - 500 words

Why is strategy important to business - Essay Example ment with the knowledge of the way individual activities and organizational personnel are interlinked and connected to obtain the business objectives. The strategy sets the direction for business depending upon the threats and opportunities of the macro environment as well as the micro environment. The needs of a business change in reaction to the changes of the environment. There are numerous entities that bring a change in the environment. Such entities include but are not limited to the competitors, customers, stakeholders, rules, legislations, and political, technological and socioeconomic factors. With an increase in the change of the environment, there occurs an increase in the number of opportunities and threats for the business. Business does not only need to have a strategy in case of a change. Even with a stable environment, the stakeholders’ activities and intentions alter, thus causing a need for the business to review the current events and gauge the efforts to cr eate value for the consumers. The most fundamental element of strategy in the business is planning. Planning is an outcome of estimation. Estimation and assessment form the basic level of the strategic management process. First of all, the manager studies the scope of the product or service in the area that is intended to be produced from the business. Assessment of the buyer behavior aids the development of successful strategy (Pearce, 2008, p. 119). After this, the past, present and future trends in the design are reviewed with an aim to develop an innovative design that provides the customer with a product or service previously unseen or unused. The development of design and the product involve prudent planning and scheduling and usability of the resources. Once the product or service has been developed, no more than 50 per cent of the work is done. The rest of the 50 per cent is about the advertisement of the product or service. This is the most crucial step in the process of strategic

Paraphrase and summarize Essay Example | Topics and Well Written Essays - 250 words

Paraphrase and summarize - Essay Example Therefore men are differentiated from women biologically because they produce testosterone in larger quantities than women. The effects of testosterone begin in early stages of development, where an embryo is usually a female unless its hormones are altered. Therefore, a testosterone is normally used to effect this change into a boy, and normally men experience two periods of testosterone flood. This is during conception at six weeks and at teens. At six weeks, the testosterone functions to masculinize mind and body and complete the process at puberty. This hormone is, therefore, very important, for in its absence humans would always go back to the female sex which is the default sex of mankind (Morgenentaler, 39) This implies that the effect of testosterone is systemic. This is evident in genital distinction and its role in development of some characteristics such as deep voice, muscle and strength of upper body that women do not have. It also brings about behavioral differences. However, this is only based on research, for it is unethical to conduct such studies on man. However, it has been proved that in certain species where females are aggressive as compared to their males, it is because of females having more testosterone than males (Morgenentaler, 39).A good example is in the female hyenas. This means that levels of testosterone influence any behavior characteristic of man, and either males or females may exhibit

Chemical Dependency Research Paper Example | Topics and Well Written Essays - 1000 words

Chemical Dependency - Research Paper Example In 2009, people between 18 and 25 had the highest levels of drug use; 21.2 percent, which is driven by the increased consumption of marijuana. Forty-two percent of those between 18 and 25; 36.3 percent among the adults between 26 and34 and among 19.2 percent of those beyond 35 years reported to be binge drinkers (UDHHS, 2010). Among the adults that were dependent on alcohol consumption, the consumption medical drugs without prescription and the use of illicit drugs was higher. Determinants of substance Abuse Different biological, environmental, social, genetic and psychological factors are linked to the increasing levels of substance abuse. The factors determining alcohol consumption include race, gender, age, ethnicity, income levels, sexual orientation and educational attainment (CDC, 2011). The abuse of drugs and other substances is strongly determined by household, interpersonal and community dynamics (CDC, 2011). Among the major influencers of drug and substance abuse are social networks, family and peer pressure, especially among adolescents. For example, different studies show that marijuana consumption was triggered by interacting with siblings and friends that take them. The in-depth understanding of these factors will form key areas in countering drug and substance abuse in America as well as elsewhere (Galea, Nandi & Vlahov, 2004). Indirect and direct financial costs Drug abuse is a principle public health problem, which impacts the society at multiple levels. Directly or indirectly, all human communities are affected by drug use and abuse, particularly at the family level. Approximate costs of substance abuse for the US Source: (NIDA, n.d) Substance abuse costs USD 484 billion every year. These figures compare, to a large extent, to the costs incurred during the fight to deal with chronic diseases. Diabetes costs USD 131.7 and Cancer takes about USD 171.6 billion in a year (NIDA, N.D). Drug abuse as major cause for the public health problems America ns view drug abuse as a principal cause of health problems. For example, tobacco contributes about 11-30 percent of cancer deaths (NIDA, n.d). The abuse of tobacco, MDMA, cocaine, steroids and amphetamines contribute to the development of cardiovascular disease. Tobacco contributes about 30 percent of heart disease cases every year. In relation with the increasing spread of HIV/AIDS, 30.3 percent of the infection rates reported in 2000 (11,635) and hepatitis infections resulted from injection drug consumption. About 50 percent of the AIDS cases among children (4700 in 2002) were reportedly caused by the use of injection drug administration by the mother, or through sexual intercourse between the mother and a person infected through the channel (NIDA, n.d). Other indirect costs of substance abuse include drugged drinking, which constitutes between 10 and 22 percent of road crashes; violence, where among the people arrested for crimes like assault, theft and homicide, many were under the influence of illicit substances during the time of crime and arrest. Substance abuse is related to the acquisition of different consequences, including injuries, illness, and death – particularly following the consumption of alcohol, tobacco or other addictive drugs. During 2000, about 460,000 deaths could be traced to smoking and the abuse of drugs (NIDA, n.d). Psychological and physical

UNIT 4 seminar Research Paper Example | Topics and Well Written Essays - 250 words

UNIT 4 seminar - Research Paper Example Process evaluation comprises of assessment activities integrated into the implementation of the program. The purpose of the process evaluation is to determine the potential success or failure of a certain program. It assesses the implementation of a given program (Royse, Thyer, & Padgett, 2010). It may require a detailed description of the program, constant monitoring as well as quality assurance check. On the other hand, outcome evaluation is carried out after the conclusion of the implementation program in a bid to determine whether the program really works. Moreover, outcome evaluation assesses the efficiency of the program on the target population. After a successful search for formative evaluation in the Kaplan Library, 8,648 appeared. This number was shocking because the scholarly articles yielded were too many. With such a high number of results, only a limited number of them are relevant. After the search of process evaluation in the same library, 1,182,652 results appeared (Smith, 2006). When outcome evaluation was searched on the Kaplan Library, the search yielded only 16 results. This number was also shocking because it showed that limited researches on this aspect has been done. When formulating objectives, experts have highlighted that they should be measurable and specific. Measurable objectives are subject to successful assessment or evaluation yielding results that determine whether they are effective (Kellaghan, Madaus, & Stufflebeam, 2000). On the other hand, specificity is critical in formulating objectives as it minimizes chances of confusing ideas. Evidently, the three types of evaluation are critical in the adoption of any program as they reflect the potential of any program in addressing the needs of the target

Evaluate costa customers service approach through observation and a Assignment

Evaluate costa customers service approach through observation and a Mystery shop (report ) - Assignment Example The report outlines the â€Å"push and pull† theory as a method of addressing customer concerns; it further evaluates the validity of this approach in handling customer issues in modern day business environment that is getting increasingly competitive. This theory is applied in supporting my arguments that place customer care as a vital component of business processes. The relationship between good customer relationships and business success is explored with an aim of giving you the justifications for adopting a customer oriented strategy that contributes to overall business sustainability over time. Customer service training is vital in making the employees responsive to customer needs and in establishing it as part of the firm’s culture. If a firm owner wants to be successful in achieving the objectives set forth, then customer service is of paramount importance because positive responses increase client numbers. In Adam Smith’s basic theory of competition, he says that businesses need to be very involved in this initiative to satisfy individual customer needs. Clients treated in a humane way and in a respectful manner have a high chance of coming back to the premises. Costa Coffee is a business outlet in the hospitality industry; this is a highly competitive field with new shops opening at city corners every day (Brody, 2009)1. In order to remain competitive in this growing field, customer relationship building initiatives is therefore of vital importance to keep them coming. This is enhanced by offering them the best services at a reasonable cost and maintaining a feedback mechanism that ensures their specific needs are met. For instance, coffee is available in a variety of grades and types; we have the Arabica and Robusta coffee varieties which also have different tastes. Giving clients these brew options provides a one stop shop where different taste needs are met. We used

ORGANIZATIONAL ANALYSIS- THE ORGANIZATION Essay Example | Topics and Well Written Essays - 500 words

ORGANIZATIONAL ANALYSIS- THE ORGANIZATION - Essay Example Papworth Hospital also has the Chest Medical Unit that offers respiratory services (Papworth Hospital NHS Foundation Trust, 2013). It is a Public  NHS and has a tremendous relationship with the community due to its long service in the area. The philosophy of Papworth Hospital promotes a positive approach to review and diagnosis, ensuring that the patient accesses medical care in the most suitable setting by the best personnel (Papworth Hospital NHS Foundation Trust, 2013). This relates to team work from the staff who share work collectively for safe and effective clinical care. The hospital’s mission statement is to uphold its status as excellence center for diagnosis and treatment of patients. Papworth Hospital may be said to be a matrix organization as responsibilities are shared in the organization. The board members are involved in decision making, patients and the public are also included in consultations (Papworth Hospital NHS Foundation Trust, 2013). This form of communication explains the level of consultations within the organization. Papworth Hospital seems to have issues with its internal control systems. This means that the governance process must be changed to improve the risk management systems as well as come up with a framework that will ensure that all stakeholders play their role efficiently (Papworth Hospital NHS Foundation Trust, 2013). Nonetheless, the hospital is keen to constantly review its reports what allows to control activities in the organization as well as achieve the set goals. The hospital has a culture of reviewing risks in relation to the quality standards; thus, quality service provision efficiently (Papworth Hospital NHS Foundation Trust, 2013). Papworth Hospital nursing care delivery system involves modern matrons that ensure cleanliness of the patient environment as well as support the nurses in the wards efficiently (Papworth Hospital NHS Foundation Trust, 2014). Social workers help in discharging

Effect of Reinforcement Essay Example for Free

Effect of Reinforcement Essay Psychology as we know it didn’t suddenly appear on the intellectual scene. It is impossible to say just when it began, or who was responsible for it. Instead, we can only point to a number of current that takes us from philosophy and the natural sciences into something recognizably psychological. To give you the simple concept of this field, psychology is the study of human and animal behavior. As time ages, many psychological theories have evolved. Burhus Frederic Skinner, as one of the contributors has emphasized a theory on learning regarding to individual’s behavior. Skinner believed that the best way to understand behavior is to look at the causes of an action and its consequences. He called this approach operant conditioning. Skinners theory of operant conditioning was based on the work of Thorndike (1905). Edward Thorndike studied learning in animals using a puzzle box to propose the theory known as the Law of Effect Skinner is regarded as the father of Operant Conditioning, but his work was based on Thorndike’s law of effect. Skinner introduced a new term into the Law of Effect Reinforcement. Behavior which is reinforced tends to be repeated (i.e. strengthened); behavior which is not reinforced tends to die out-or be extinguished (i.e. weakened). Skinner (1948) studied operant conditioning by conducting experiments using animals which he placed in a â€Å"Skinner Box† which was similar to Thorndike’s puzzle box. B.F. Skinner (1938) coined the term operant conditioning; it means roughly changing of behavior by the use of reinforcement which is given after the desired response. A. Background of the study Reinforcement, a term used to refer to anything that increases the likelihood that a response will occur. Reinforcement, noted, defined by the effect that it has on behavior it increases or strengthens the behavior. It might involve responses right after the reinforced present a kind of motivation. In this study, we could see the behavior, and the responses made by the rat in the presentation of reinforcement. The errors of the rat in the progress of the experiment shall be observed and noted and shown to answer the queries of the researchers at the same time address curiosity. B. Theoretical Basis: Physiological psychology research has identified separate but interactive neural pathways mediating reward and aversion (i.e., functioning as positive and negative reinforcement systems, respectively). Direct activation of brain reward mechanisms through electrical and chemical stimulation provides a tool for elucidating these neural systems. During the past four decades, considerable knowledge has been gained regarding the anatomical and neurochemical basis of these pathways. This brief presentation addresses only brain mechanisms involved in positive reinforcement because they are closely identified with pleasure in humans and because they underlie the primary process governing much of normal behavior. Deprivation and Positive Reinforces: Experts who say educators can use positive reinforces (positive consequences) to control students behavior usually dont tell the educators they must first deprive students of whatever they plan to use as reinforce. As far back as 1938, Skinner described how deprivation is necessary when a person wants to use reinforces to control another organism. That was when he wrote, in the preface to his book, The Behavior of Organisms: An Experimental Analysis (N.Y.: Appleton-Century-Crofts): The simplest contingencies involve at least three terms stimulus, response, and reinforcement and at least one other variable (the deprivation associated with the reinforcement) is implied. I think it is interesting that, even relatively early in his work, Skinner was waffling on his acknowledgment of the central role deprivation plays in operant conditioning. Notice how he says there are at least three terms, and at least one other variable (the deprivation associated with the reinforcement) is implied. Make no mistake about it, deprivation is not merely implied; it is the essential action that allows behaviorists to create the illusion that reinforcement controls behavior, whether the behavior occurs in the experimental laboratory, the classroom, or the slaughterhouse. Watsons S-R behavioristic psychology described behavior as reflexive responses to stimuli. Skinners radical behaviorism described behavior as responses in the presence of stimuli that were associated with reinforcers, where the reinforcers worked because the organism was deprived. The formula in Skinners psychology is stimulus-response-reinforcement (+deprivation): S-R-R (+D). (Sometimes the formula is written, Antecedent-Behavior-Consequence, or A-B-C. I would add +Deprivation, making the formula A-B-C (+D).) Without deprivation, or denial of access to something an organism wants or needs, there is no reinforcement. If a rat eats pellets of food until it stops of its own accord, then the behaviorist cannot use food to reinforce the rat’s actions. If a child has all of the attention he or she needs or wants, then a teacher cannot use attention to reinforce the childs behavior. No deprivation, no control of behavior. No control of behavior, no discipline program The following passage, from one of the Bibles of laboratory research methods for radical behaviorists, describes how completely they relied on deprivation to create the illusion that reinforcers control behavior. In 1957, C. B. Ferster and B. F. Skinner wrote that: Birds are sometimes matched on deprivation level as measured by the rate of responding under a variable-interval schedule. Each bird is run for a session of fixed length each day C. Related Literature What is Reinforcement? Reinforcement theory is the process of shaping behavior by controlling the consequences of the behavior. In reinforcement theory a combination of rewards and/or punishments is used to reinforce desired behavior or extinguish unwanted behavior. Any behavior that elicits a consequence is called operant behavior, because the individual operates on his or her environment. Reinforcement theory concentrates on the relationship between the operant behavior and the associated consequences, and is sometimes referred to as operant conditioning. REINFORCEMENT, PUNISHMENT, AND EXTINCTION The most important principle of reinforcement theory is, of course, reinforcement. Generally speaking, there are two types of reinforcement: positive and negative. Positive reinforcement results when the occurrence of a valued behavioral consequence has the effect of strengthening the probability of the behavior being repeated. The specific behavioral consequence is called a reinforced. An example of positive reinforcement might be a salesperson that exerts extra effort to meet a sales quota (behavior) and is then rewarded with a bonus (positive reinforce). The administration of the positive reinforce should make it more likely that the salesperson will continue to exert the necessary effort in the future. Negative reinforcement results when an undesirable behavioral consequence is withheld, with the effect of strengthening the probability of the behavior being repeated. Negative reinforcement is often confused with punishment, but they are not the same. Punishment attempts to decrease the probability of specific behaviors; negative reinforcement attempts to increase desired behavior. Thus, both positive and negative reinforcement have the effect of increasing the probability that a particular behavior will be learned and repeated. An example of negative reinforcement might be a salesperson that exerts effort to increase sales in his or her sales territory (behavior), which is followed by a decision not to reassign the salesperson to an undesirable sales route (negative reinforce). The administration of the negative reinforce should make it more likely that the salesperson will continue to exert the necessary effort in the future. As mentioned above, punishment attempts to decrease the probability of specific behaviors being exhibited. Punishment is the administration of an undesirable behavioral consequence in order to reduce the occurrence of the unwanted behavior. Punishment is one of the more commonly used reinforcement-theory strategies, but many learning experts suggest that it should be used only if positive and negative reinforcement cannot be used or have previously failed, because of the potentially negative side effects of punishment. An example of punishment might be demoting an employee who does not meet performance goals or suspending an employee without pay for violating work rules. Extinction is similar to punishment in that its purpose is to reduce unwanted behavior. The process of extinction begins when a valued behavioral consequence is withheld in order to decrease the probability that a learned behavior will continue. Over time, this is likely to result in the ceasing of that behavior. Extinction may alternately serve to reduce a wanted behavior, such as when a positive reinforce is no longer offered when a desirable behavior occurs. For example, if an employee is continually praised for the promptness in which he completes his work for several months, but receives no praise in subsequent months for such behavior, his desirable behaviors may diminish. Thus, to avoid unwanted extinction, managers may have to continue to offer positive behavioral consequences. What is motivation? Definition of Motivation Motivation refers to â€Å"the reasons underlying behavior† (Guay et al., 2010, p. 712). Paraphrasing Gredler, Broussard and Garrison (2004) broadly define motivation as â€Å"the attribute that moves us to do or not to do something† (p. 106). Intrinsic motivation is motivation that is animated by personal enjoyment, interest, or pleasure. As Deci et al. (1999) observe, â€Å"Intrinsic motivation energizes and sustains activities through the spontaneous satisfactions inherent in effective volitional action. It is manifest in behaviors such as play, exploration, and challenge seeking that people often do for external rewards† (p. 658). Researchers often contrast intrinsic motivation with extrinsic motivation, which is motivation governed by reinforcement contingencies. Traditionally, educators consider intrinsic motivation to be more desirable and to result in better learning outcomes than extrinsic motivation (Deci et al., 1999). Although the use of differential reinforcement has been recommended in previous investigations and in early intervention curriculum manuals, few studies have evaluated the best method for providing differential reinforcement to maximize independent responding. This paper reviews previous research on the effectiveness of differential reinforcement as treatment and describes important areas of future research. Keywords: acquisition, differential reinforcement, early intervention, reinforcement quality, reinforcement schedules Differential reinforcement is an operant procedure used to increase the occurrence of desirable behavior while simultaneously decreasing undesirable behavior. The use of differential reinforcement is recommended in early intervention (EI) programs because children in EI often do not acquire skills in the absence of motivational procedures (Karsten Carr, 2009; Leaf McEachin, 1999; Lovaas, 2003). In addition, prompting procedures may be necessary initially, because children who require EI may not have extensive skill repertoires that could be exposed to differential reinforcement. Thus, one challenge in EI programming is to identify differential reinforcement procedures that minimize prompt dependence and promote independent responding as the ultimate goal. However, only a few studies have examined the effects of differential reinforcement on independent and prompted responding in EI programs. Therefore, the purposes of this review are (a) to provide a summary of previous research related to differential reinforcement during acquisition-based procedures in EI and (b) to suggest areas of future research. Schedules of reinforcement Studies have examined variations in differential reinforcement schedules for prompted and independent responding to identify schedules that increase the efficiency of learning (i.e., quickly increase independent responding). Olenick and Pear (1980) implemented differential reinforcement during tact training using 5-s constant time delay (hereafter referred to as â€Å"prompt delay†) with 3 children with severe intellectual disabilities. The evaluation included four conditions. In two of the conditions, reinforcement was provided on a fixed-ratio (FR) 6 or 8 schedule. Reinforcement was provided on an FR 1 schedule for correct independent responses and on an FR 6 or FR 8 schedule for prompted responses in the third condition. In the fourth condition, reinforcement was provided on an FR 1 schedule for prompted responses and on an FR 6 or 8 schedules for correct independent responses. Results indicated that all participants had the highest accuracy and number of independent responses on the FR 1 schedule for independent responses. These findings suggest that schedules of reinforcement that favor independent responding may produce more rapid skill acquisition. However, the authors implemented a fairly thin schedule of reinforcement in the first two conditions (i.e., FR 6 or 8) and did not conduct any sessions at a 0-s prompt delay, both of which are inconsistent with typical procedures used in EI (Walker, 2008). Thus, it is not clear that the results of this study are representative of acquisition in clinical settings, in which rich schedules of reinforcement and a 0-s prompt delay are used most typically in initial stages of learning. What is Latent learning? Latent learning is a theory in psychology that describes learning without a reward. An organism learns a new concept simply from observation and without any obvious reinforcement. The organism may not be consciously aware of its new skill until it suddenly expresses that skill when it becomes useful at a later date. For instance, a person can casually observe other people using chopsticks to eat and discover much later that he or she can use them correctly without ever being taught. A classic experiment in psychology illustrates how latent learning works. Edward C. Tolman and C.H. Honzik famously placed three groups of rats inside a maze, where the rats were allowed to wander around. One rat group always received a food reward when reaching the end of the maze, while the second group found no food at the end. The third group found no food at the end of the maze for ten days but discovered food on the 11th day. The first group of rats learned to reach the end of the maze quickly to reach the food. The second group continued to wonder around the maze. The third group acted similarly to the second group until food was placed at the end of the maze on the last day. One day after food was placed; the third group had already learned to reach the end of the maze as quickly as the first group.

Aging worksheet Essay Example for Free

Aging worksheet Essay Part I Identify 2 or 3 issues faced by the aging population. 1.Older adults experience unequal treatment in employment and may face prejudice and discrimination. (Racial and Ethnic Groups, Ch.17, pg.364.) 2.Membership in this disadvantaged group is involuntary. (Racial and Ethnic Groups, Ch.17, pg.395.) 3.Older adults share physical characteristics that distinguish them from younger people, and their cultural preferences and leisure-time activities often differ from those of the rest of society. (Racial and Ethnic Groups, Ch.17, pg.395.) Aging and Disability Worksheet Part I Identify 2 or 3 issues faced by the aging population. 1.Older adults experience unequal treatment in employment and may face prejudice and discrimination. (Racial and Ethnic Groups, Ch.17, pg.364.) 2.Membership in this disadvantaged group is involuntary. (Racial and Ethnic Groups, Ch.17, pg.395.) 3.Older adults share physical characteristics that distinguish them from younger people, and their cultural preferences and leisure-time activities often differ from those of the rest of society. (Racial and Ethnic Groups, Ch.17, pg.395.) Answer the following questions in 100 to 200 words each. Provide citations for all the sources you use. †¢What is ageism? How does ageism influence the presence of diversity in society? In my readings this week I learned the meaning of ageism in our society. Ageism is the â€Å"prejudice and discrimination against older adults. (Racial and Ethnic Groups, Ch.13, pg.395.) Ageism influences the presence of diversity in society by restricting the elderly of what they are capable of, or presumed incapable of. Some may not hire an older individual because  he/she assumes the individual will not be able to perform well in the work environment with others. The elderly are viewed as ill, fragile, and may have physical restrictions. Another way ageism influences society is the youth have a fear of aging because of the negative concepts of the elderly.

Examining The Changing Media Scene In India Media Essay

Examining The Changing Media Scene In India Media Essay INTRODUCTION The media scene in India is changing very fast, especially in the past decade. On one hand, new media are emerging and affecting the existing ones. On the other hand, the consumption patterns of the media users are also undergoing a lot of transformations. Post independence, the development of media was rather slow and unexciting. For twenty five years after independence, the growth of media such as print, cinema and radio followed a gradual and uneventful path, progressing slowly and steadily. Pressures of urbanization, growing literacy and development in technology did not affect the media significantly. The scenario was such a sad one that neither inter nor intra- media competition existed. This obviously translated into the fact that there was no strategy or planning on the part of the media. Essentially media marketing itself was an alien concept for most of the newspaper owners and the sole television operator Doordarshan. The first strains of change on this static environment were observed in the early eighties. These changes were introduced through technology: the development of grafting techniques in press and in electronics. The implications were two fold. On the first level, the reach of media was expanded and on the second level, the people were given more choice. Introduction of glossies among print titles, the expansion of the television network, establishing a radio commercial channel suddenly made life more exciting and entertaining for the vast majority of the urbanites. It was now, for the first time, that audiences were getting segmented by the titles introduced, new markets were opening up and a large number of people were coming under the media exposure. Another interesting fact during this time was the development of a new relationship between the media and the audiences. Media patterns changed once again when sponsored programs on television became a regular feature. This initiative, along with the development and popularity of home videos changed the entire equation. People stopped frequenting cinemas, since the same films were conveniently available at home. Magazine readership also declined in favor of videos. Television, however, maintained its regular set of viewers during the period. It became a veritable obsession with the people. Programs such as the Mahabharat and the Ramayan were the opium of the masses. Now, television delivered important audience segments such as women, the rural affluent and children. At about the same time, easy access to technology and developing markets pushed publishers to add on new editions as well as supplements. THE GLOBAL BEGINNING Another change in the media environment came with the Invasion of the Skies in the early nineties. Satellite television found its way into India through CNN and the Star Network during the Gulf War. The monopoly of Doordarshan came to an end and there were multiple channels, giving the Indian viewer a choice of programs he had never been exposed to before. This, needless to say, introduced heavy competition among the channels and thus the programs contents also improved. Finally, Doordarshan had to deal with the fact that it was not the king of the skies any more: for the first time in India, the television viewer had the choice of deciding what to watch from over 50 channels. Faced with heavy competition, it had to revamp and introduce new channels in the metros and in regional areas. The competition became intense even within the satellite television players with the influx of regional channels and more and more international quality programming. It was realized that only those players who can adopt a market-savvy, strategic approach to differentiate their programming from the rest shall be able survive the media jungle. Developments in wireless technologies and their decreasing costs have created opportunities for faster deployment of telecommunications services. This speed is critical for developing countries especially in rural areas, as the role of telecommunications in development is more significant for them. The uptake of wireless technologies has been rapid in most developing countries. For the most part, these have been cellular networks that operate in the licensed bands. The unparalleled growth of mobile service (operating in licensed bands) in almost all countries of the world has been driven by both technology as well as deregulation. While the rapid spread of such networks is unprecedented, it has so far been limited to urban and semi-urban areas. Satellite Instructional Television Experiment (SITE): It is considered to be one of the biggest techno-social communication experiments in education and rural development. The one-year experiment (August 1975 July 1976) aimed to provide direct broadcasting of instructional and educational television in 2400 villages in the states of Andhra Pradesh, Bihar, Karnataka, Madhya Pradesh, Orissa and Rajasthan. Over 500 conventional television sets spread over 335 villages in Kheda district, Gujarat was also part of SITE. Satellite technologists had called SITE as leapfrogging from bullock cart stage to satellite communication, which did not discriminate between rural poor and urban rich for information and communication. It had given 50 years communication lead to rural poor of the country. SITE provided telecast for rural primary school children in the age group 5 12 years studying in grades 1-5. Rural adults viewed television programs on improved agricultural practices, health and family planning. They were also able to view news. Television was considered as window to the world. Both quantitative (survey) and qualitative in-depth (anthropological holistic study) evaluation indicated modest gains in some areas, whereas no gain or negative gain in other areas. The one-year duration was thought to be too little for any positive results. Based on the experiences and positive gains, INSAT satellite was launched in 1981. Since then a series of INSAT satellites have been launched and used for nationwide television telecast for education and deve lopment. The sad part is that, in spite of best efforts, satellite television has been used for entertainment more than rural development. The other research says that access to satellite TV is of surprising value to the lives of rural Indian women and villagers in general. School enrolment among girls, family planning, hygiene, awareness about diseases and many more such milestones have been achieved by the electronic media. The newly wired women also has become less accepting of spousal abuse, a bias in favor of having boys declined, and they look more likely to be able to spend money without a husbands permission. However, shows on satellite TV tend to focus on urban areas, where womens status is higher and are shown leading extravagant lifestyles. The rural people are not able to associate with those programs and shows. Customization as per rural needs has recently begun and has been appreciated even by the urban crowd. People are getting exposed to a set of attitudes that are more liberal, that are more favorable toward women, and they are changing their minds in response to that. Change is inevitable. Government h as taken initiatives to start many such programs to generate awareness, some ran for years, others could never come out of papers and the rest bombed after the take off. Few project initiatives were: Project Project Partners Outcomes Country wide classrooms UGC, CEC and 17 other universities where media centers are located 10,000 programs produced and telecast on National TV till date School Television in India CIET and 6 state Institutes of Educational Technology Programs produced and run on national TV till date Gyan Darshan HRD, IB, Prasar Bharti, IGNOU The program runs 24 hrs and is handled by IGNOU Gyan Vani Reached out to backward communities, distant education and counseling Namma Dhwani (voices) UNESCO Educational and development oriented informal programs Gujarat Community Radio Kutch Mahila Vikas Sangathan, DMC, Ahmedabad Non- formal education and social issues, esp. for women Jhabua Development Communication Program ISOR, GoMP Literacy, health and non- formal education, watershed management RADIO AS A MEDIUM Radio, as a mass medium, is particularly suited to communicate in the local dialect and idiom, thereby establishing a personal connection between the broadcaster and the listener. That has not, however, been achieved in India because of the bureaucratic stranglehold on radio. Development, as a process meant to empower the poor, reduce exploitation, and oppression by those having economic, social, and political power. It also means an equitable sharing of resources, improved health care and education for all. One of the major components and driving force of rural development is communication. Conventionally, communication includes electronic media, human communication now information technology (IT). All forms of communications have dominated the development scene in which its persuasive role has been most dominant within the democratic political framework of the country. Persuasive communication for rural development has been given highest priority for bringing about desirable socia l and behavioral change among the most vulnerable rural poor and women. Initially, the approach lacked gender sensitivity and empathy of the communicators and development agents who came from urban elite homes. Added to these constraints is political will that still influences the pace and progress of rural development. Communication has been seen by a large number of development planners as a panacea for solving major social ills and problems. Apart from development, the introduction of communication in the educational process for open and distance learning is seen as step towards improving the quality of education and bridging the social and educational gap (Agrawal 1993). However, experience indicates that those rich who could afford to have access to private resources have hogged the advantage whether development or education. In this respect, it seems that communication technology has, in no way has helped the poor for improving their socio-economic condition. ALL INDIA RADIO (AIR) India presents huge challenges to any broadcasting institution that aspires to serve the whole nation. All India Radio (AIR), the state-run monopoly, was expected to take these challenges on and help build a modern nation state with an egalitarian social democracy. Approximately 303 news bulletins are aired daily, of which 93 are intended for national listeners, whereas regional stations originate 135 news bulletins daily. In addition, there are special bulletins on sports, youth, and other major events, such as the annual Haj to Mecca by Muslims or the Kumbh Mela in Allahabad. More than 80 stations in the AIR network broadcast radio dramas in various languages. Forty percent of the broadcast time, however, is set aside for classical, light, folk, and film music. The External Service, set up to act as a cultural ambassador, airs 65 news bulletins in 16 foreign and eight Indian languages. In addition, magazine programs on sports and literature; talk shows on sociopolitical-economic is sues; and classical, folk, and modern Indian music from different regions of the country are broadcast. But the results have not been that healthy, the reasons being many folds. AIRs heavily bureaucratic ways have been the major impediment to innovation and creativity. In a highly pluralistic society with incredible linguistic, caste, and class differences, AIR has attempted not to offend any group. Controversial social and community welfare issues take a back seat while popular film music dominates. Regional language radio stations beam programs to the whole state in a formal dialect, which renders it stiff and official. As a consequence, most people find AIR boring. Radio for Rural Development: Popularly known as Radio Farm Forum, it was one of the earliest efforts in the use of radio for rural development. The experiment was carried out from February to April 1956 in five districts of Maharashtra State by All India Radio (AIR). Rural listener groups were organized, who would listen to radio broadcasts twice a week at 6.30 p.m. for half an hour. The group then stayed together for discussion of what they had heard, the discussion lasted usually, about half an hour. The summative impact evaluation indicated positive outcome of radio rural forum. Impressive knowledge gains as a result of radio listening were reported across illiterates and literates, agriculturists and non-agriculturists, village leaders and others. However, over a period of time the project withered away and could not be operationalized for large-scale implementation in one form or the other. Lack of political will and indifference of bureaucracy killed the rural development proje ct even before it could help poor to take advantage of radio broadcast. Satellite radio for education EDUSAT, according to the Indian Space Research Organization (ISRO), is the first exclusive satellite for serving the educational sector. The satellite has multiple regional beams covering different parts of India, which theoretically enables programs to be broadcast in relevant local languages EDUSAT can provide connectivity to schools, colleges and higher levels of education and also support non-formal education including developmental communication. But it is a matter of concern that, over a year after the satellite was launched, much of its capacity is lying idle. Community Radio Initiative: In post media liberalization phase, Government of India, announced the policy for community radio broadcasting which was expected to focus on issues relating to education, health, environment, agriculture, rural and community development. In the absence of true community radio in India, a number of NGOs are using innovative methods for non-formal education through audio. School Audio through cable has been in operation in Budhikote village, Karnataka, since January 2002. The School Audio project is a spin-off of the Namma Dhwani cable audio service. In the Kutch region of Gujarat, the Kutch Mahila Vikas Sangathan (KMVS), an independent organization of rural women, focuses on adolescent girls education, basic functional literacy within sangathan members and development of context specific educational curricula on different issues for literates and neo-literates. Shivpuri, MP launched a radio station, Dharkan 107.8 FM, to give educational messages through humor featuring Ms. Adivasi as a difficult mother-in-law arguing against exclusive breastfeeding. Vandana Dube, the stations first manager, helps to produce programs on hygiene, health and the importance of education. She said that listening groups, which have formed throughout the district, are having a major impact. In particular, more women are now contributing to important debates on caste discrimination, female foeticide and female empowerment issues that concern them directly. UNICEF Image CONCLUSION There is no single ideal format for educational radio. Innovative programming offers some very effective approaches to non-formal education over radio. Recently, AIR agreed to a proposal from Sesame Workshop India to provide airtime on national and regional radio channels for locally produced versions of the universally popular Sesame Street. The programs would be aimed at pre-school goers, and would also provide under-served children with access to educational media, especially in rural areas. All the same, it has been amply proved that radio rightly used can improve educational quality and relevance, lower educational costs and improve access to education, particularly for disadvantaged groups. It is most effective when supported by trained facilitators, group learning, group discussion, feedback and the use of multimedia approaches.

The Environmental Revolution :: College Admissions Essays

Since the first time having blown bubbles in my Open Water class, I've logged over 100 dives.   This love for diving has evolved into an intense passion towards protecting the ocean, and all of its inhabitants.   I've chosen to put my love for the ocean into action, as an environmentalist.   Actually, this passion extends out towards efforts that look to help all the planetary domains gain protection.   As such, I appreciate when others take the time educate me on those other realms for which I know less about.   To be an environmentalist, one must choose the cause which resonates within ones sole, and run with it.   One must be willing to educate people about the environment while being open to education from those people who support other causes.   Together we can help each other towards learning how to become a true "Environmentalist". We must all encourage positive collaboration and education as opposed to being against something.   For example, sharks are being decimated to near extinction simply for their fins.   The fins are used to make Shark Fin soup, a delicacy popular particularly in Taiwan and Singapore.   It would be easy to blame these communities for creating the demand.   However, in conversing with Asian environmentalists, they liken the culture around eating Shark Fin soup to the culture surrounding Americans eating turkey for Thanksgiving dinner.   There are ongoing efforts to educate these people, by members of their own community, on just how dangerous this cultural practice is and the devastating impact this could have on their (our) world if all the sharks were to disappear as a result. Environmentalists everywhere are making a difference!   Famous restaurants have taken endangered Swordfish off their menus, these same restaurants are buying wild-caught salmon (and boosting the economy of local fisheries in the process), laundromats have started selling green detergent, this just to name a few of these enlightened changes.

Greek Women in The Odyssey :: Homer

The women in The Odyssey are a fair representation of women in ancient Greek culture. In his work, Homer brings forth women of different prestige. First there are the goddesses, then Penelope, and lastly the servant girls. Each of the three factions forms an important part of The Odyssey and helps us look into what women were like in ancient Greece. The role that the housemaids play in The Odyssey is that of servitude. They are expected to serve the suitors and put up with their rude demeanor. During the course of the ten years that the suitors are there, many of the housemaids sleep with them. Upon returning to Ithica, and slaughtering the suitors, Odysseus makes the housemaids who slept with the suitors clean up their dead bodies. After this he hangs them by the neck, with this gesture he indirectly calls them â€Å"harlots†. This indicates one of many feelings toward women of that time. Then there is Odysseus’ wife, Penelope. She is depicted as an individual. Homer makes her character appear as very clever and also very loyal. Never once during Odysseus twenty years of absence does she remarry. She tolerates the suitors in her home for ten years but never chooses, always with the hope that her first husband, Odysseus, will return. Homer also makes her seem clever when she gets all of the suitors to bring her gifts before she â€Å"chooses one† knowing that they are in a short supply of resources. In another instance he portrays her as clever in the way that she keeps the suitor away by weaving the tunic for Odysseus and secretly taking it apart every night. The role Penelope plays is very important because she is seen as a person, not a possession. Finally, there are the goddesses. They represent women in all their glory. They are very human-like in that they feel the same emotions like jealousy, anger, pride, revenge, excitement, joy, compassion, etc. The exception being that they have supernatural powers. Homer even makes then human-like to the extent that they fall in love with mortals, for instance Calypso.

Regional American Literature :: essays research papers

Journal Entry: Regional American Literature & the South   Ã‚  Ã‚  Ã‚  Ã‚  Regional American Literature seems to deal with specific areas and their culture. Culture has evolved throughout the years. Using the South as an example, its culture was clearly defined before the Civil War. The South was comprised mostly of slaves working hard picking cotton until their fingers bled for no pay, white supremacist slave owners quick to bludgeon at the slightest sign of insurgence and the rest of the populace unsure of which side they belong. Blacks were looked at as possessions, not allowed to learn how to read or write, sleeping in dark, damp shacks dirtier than animal stables, beaten and raped at their owner’s whim. Today, though the South still has an air of contempt that has carried itself through generation after generation of confederate pride, a new generation has a mind of its own believing that life is better lived in harmony. Our grandparents, mothers and fathers may still reference the African-Americans as â€Å"niggers,† but the phrase makes the children of the 21st century’s skin crawl. For example, my mother-in-law came for a visit and said, â€Å"The Smith’s house was bought by a bunch of niggers. There goes the neighborhood. All of our houses are worthless now.† Her son and I are adamantly against racism. Their attempt to taint their children’s belief system by implanting white supremacist ideals has failed. A new generation is born; a generation which better understands the melting pot that America has always been. Instead of â€Å"white pride,† it’s just pride; pride in being an American. I believe this generation, being the so over-exposed to a wealth of media and knowledge, has drastically altered the regional literature of the South and for that matter, the United States as a whole.   Ã‚  Ã‚  Ã‚  Ã‚  And how can adults operating under the â€Å"old southern principals† raise their children to value education and become doctors, lawyers and leaders of corporations. Maybe the parents didn’t teach the children this drive for education? Maybe it’s their peer discussions and television programming showing them that there is an abundance of opportunities outside of being a farmer, beer truck driver or a stay-at-home mother right out of high school. Television has been and continues to be a powerful tool in getting the word out to those underprivileged children living in poverty with seemingly no hope for a better life. Television is also assisting

Choosing a Right University Essay

Choosing a university is a serious life-decision, because a university is a model of the real world and a place to stay for four years. In a university, we can chase for genuine knowledge, expand social networking, and learn about how to interact with people, etc. If we choose the wrong school, we might miss a lot of opportunities to learn and experience. In order to choose the right university, we have three important factors to consider: academic resources, activity resources, and accessibility. Since studying is the first priority for a university student, there is no doubt that we should first consider whether the school contains the academic resources that fit our interest . On one hand, if the students have interests in disciplinary fields, then they should choose a comprehensive university instead of a single field university. On the other hand, for students who have interest in specific field, they should choose the school that is dominant in that particular field. That is to say, to investigate whether the school owns the academic capability of the field that we are curious about is vital. Besides studying, how the students spend their free time is the second important factor to think about. Do the students spend all their spare time fooling around, or play on-line games? Or do they have various opportunities to experience life? In other words, we have to know whether the school offers chances of meaningful experiences for student to explore the world, such as international conferences, enlightened speeches, exchange programs, volunteering works and student clubs, etc. After viewing academic and extracurricular resources provided by the school, we can then take a look at the accessibility of the school. The reason why the accessibility of school need to be considered carefully is because there are still lots of things happen out of the campus. For example, exhibitions, intern, and speeches etc. all take place in the city center. As a result, we need to check whether we have the convenient access to the city center, for having chances to get connection with the real world. Choosing an ideal university is a complicated matter, but follow the factors which mentioned above might help us cross out some unsuitable options. To conclude, first is to know about the academic background of the school, then to see what extracurricular opportunities the school offers, and finally to know whether the access from to the real world is convenient or not.

Custom Snowboards Essay

Custom Snowboards, Inc. is interested in securing funding to expand into the European market. Financial statistics have been provided within this report to discuss the feasibility of this expansion. To fund the project, Custom Snowboards wishes to secure capital debt of $1,000,000. Custom Snowboards has seen considerable growth in the percentage of sales and substantial increase in revenue. They expect future sales to continue to rise, which would be beneficial to the lender and Custom Snowboards. A horizontal analysis will be reviewed and will reveal the Custom Snowboards financial position over a three-year period. This will help in the actual approval process. The review will look at key points and will help to confirm Custom Snowboards ability to successfully expand into Europe. Profitability The financial health of a company reviews sales, total assets and net worth in relation to how profit was earned (Hunt, 2013). Thus, income statements from a threeyear period will be reviewed and this will help develop a picture of Custom Snowboard’s financial health. Net Sales Net sales increased 32,200 or 0.49% from year 12 to year 13. This indicates strength within Custom Snowboards, even though the increase was minimal. Year 13 to year 14 net sales dropped by 3.4% or $225,400. This does not bode well for Custom Snowboards and could cause a concern regarding the ability to repay the debt. The CUSTOM SNOWBOARDS Company’s corrective action plan should be reviewed to see if the changes implemented worked. Cost of Goods Sold The cost of goods sold in year 12 and 13 increased by 0.49% or $22,400. This  is considered strength. It makes since that net sales increased that the demand for goods sold increased as well. However, when net sales decreased in year 13 and 14 so did the demand for goods sold. This decrease is equal to a decrease in sales of 3.4%. There was no over spending during this time frame and is determined by the cost of goods sold and net sales percentages were exactly the same. Gross Profit Year 12 and 13 saw gross profit increase by $9,800. Again, sales were increased, so gross profit was increased by 0.049%. The gross profit was above $2,000,000 during year 12 and 13. Gross profit by year 14 had dropped 3.4% or $1,950,200. This is a concern for Custom Snowboards, since it represents a reduction in revenue and viability. Operating Income Operating income for year 12 and 13 dropped by $63,000 or 23.56%. The operating income continued to drop during year 13 and 14. By year 14, the operating income had fallen $109,000 or 53%. This is a concern for Custom Snowboards and they may have trouble paying all their liabilities. Custom Snowboards finance team plans to implement protocols to correct deficiencies in operating income. Earnings before income taxes Earnings before income taxes dropped by $57,800 or 30% in year 12 and year 13. This continues to drop 82.74% during year 13 and year 14. However, Custom CUSTOM SNOWBOARDS Snowboards lost $106,000 on earnings before income taxes. Earnings before income taxes help establish a measurement of profitability, but do not really represent cash earnings (Investopedia, 2013). To decide on credibility, other factors have to be considered along with this item. However, Custom Snowboards wants to ensure transparency and accuracy in trying to secure this debt. Net Income Net Income was down $43,350 or 30% during year 12 and year 13. This drop continued into year 13 and year 14 by continuing to drop 82.74% or $80,175. This is a concern for Custom Snowboards. This indicates potential problems exist, such as workflow, production, and pay. Furthermore, the financial picture of the company is not a healthy one. Liquidity Trading activity within Custom Snowboards liquidity is characterized as high. The horizontal analysis will determine how quickly cash can be converted into use. Also, the horizontal analysis will help determine the company’s liquidity and the ability to meet obligations. Cash and Cash Equivalents Shares and bonds that can be easily converted into cash are considered cash and cash equivalents. This converted cash is then immediately available for use. Custom Snowboards had a cash and cash equivalent of 83.8% during year 12 and year 13, but that dropped to 7.2% in year 13 and year 14 since sales dropped during that period of time. This would be a concern for Custom Snowboards and indicates they may not have the CUSTOM SNOWBOARDS 5 assets available to keep immediate cash flow available, especially if sales are not as expected in Europe. Total Current Assets $142,260 or 19.3% represents the total current assets of Custom Snowboards during year 12 and year 13. However, in year 13 and year 14 total current assets fell 16%. This is a concern for Custom Snowboards since the company must have enough assets to fund operations and pay expenses. Continued low sales and limited assets is a concern for lenders and poses the question if Custom Snowboards would be able to meet its financial short-term obligations. Solvency Custom Snowboards appears to be financially solvent from the review of the income statement and balance sheet. Custom Snowboards has reduced liabilities and maintained consistent repayments to reduce long-term financial obligations. This is strength for Custom Snowboards since they saw sales drop. Long-term Liabilities Year 12 and Year 13 saw long-term liabilities drop 6.4% and then drop another 6.8% in year 13 and year 14. This is strength for Custom Snowboards and shows a determination in reducing these liabilities. Custom Snowboards is attempting to demonstrate they are committed to expansion and growth. They anticipate the European expansion will help generate sales and earnings that will help them meet their long-term liabilities. CUSTOM SNOWBOARDS 6 Total Liabilities Custom Snowboards posted total liabilities of $54,640 in year 12 and year 13, which is down 5.5%. Total liabilities continued to show a decrease during year 13 and year 14 of 6.2% or $57,520. This is strength for Custom Snowboards and shows a determination to reduce debt. Custom Snowboard has provided transparency of its financial records to provide an understanding of the mission of the company and to help with the approval process in securing the $1,000,000 debt. A2. Risks Profitability is important in any business. To ensure profitability, cost-saving measures must be considered and initiated to reduce financial risks (Hunt, 2013). This will help Custom Snowboards continue to grow and see sales grow. Net Sales Net sales dropped $225,400 or 3.4% in year 13 and year 14. Merkgraf (2013) believes the way to increase net sales is to hold staff accountable after the implementation of specific sales strategies and the setting the bar high. To accomplish this, the focus will need to be on repeat sales. This can be accomplished through marketing and thus the marketing budget will need to be addressed and have additional funds. Marketing and public relations can help increase the drop in sales and to inform consumers Custom Snowboards is planning expansion into the European market. A realistic goal to strive for is a 20% increase in sales each year for the next five years to help recover from the loss in sales and revenue. This will make the company more profitable and increase the net operating income. Marketing must focus on repeat customers and initiating creative promotional  incentives that will bring in customer interest. Sales staff must also find CUSTOM SNOWBOARDS These incentives beneficial so they are able to be resourceful when utilizing sales tactics and to turn potential customers into actual customers. The actual plan must implement methods that are cost effective and do not increase cost during production. The goal is to reduce spending and costs and increases sales. Gross Profit Gross profit was recorded at $1,950,200 or a decrease of 3.4% at the end of year 14. This is a concern since the goal of all business is to increase gross profit to make the company more valuable. The company must increase sales to keep gross profit up. Operating Income Year 12 and year 13 saw operating income drop $63,000 or 23.56%. Operating income continued to decline in year 13 and year 14 to $109,000 or 53%. Again, sales must increase for an increase in operating income to be seen. A possible strategy to increase sales is to offer personalized snowboards. These snowboards can be priced less than other snowboards, thus making them more attractive to the customer. Also, it gives the customer a chance to obtain a product different from others and cheaper than others, which can increase the interest to purchase the product. Earnings Before Income Taxes Year 12 and year 13 earnings before income taxes dropped $57,800 or 30%. This decline continued into year 13 and year 14 with a drop of $106,000 or 82.74%. This is not a good sign for Custom Snowboards. Costs need to be cut and management will need to determine where the areas that can be trimmed exist. The goal of any business is profitability and growth. The company will need to demonstrate they are capable of CUSTOM SNOWBOARDS 8 meeting financial obligations when expansion into the European market is well underway. Net Income Net income dropped 30% or $43,350 in year 12 and year 13. This drop continued into year 13 and year 14 with a total drop seen of $80,175 or 82.74%. This indicates a poor financial picture and position for Custom Snowboards. There may be production or workflow problems that may become apparent and be concerning to lenders. This drop in net income affects everyone within the company. To increase net income, sales must be increased. Thus, the minimal advertising budget must have additional funds allocated to increase sales and public relations. This is especially important during expansion to let customers know Custom Snowboards will be involved within the European market. Cash and Cash Equivalents Cash and cash equivalents were recorded at 7.2% in year 13 and year 14. This is a substantial drop from previous recordings. To avoid liquidity concerns, Custom Snowboards must increase the balance in cash and cash equivalents. Root causes for the decline must be determined and corrective plans must be implemented. An increase in marketing and public relations to increase product awareness is one example that could be implemented that would help generate sales. Total Current Assets Assets are important in the business arena and profitability needs to rise for a company to be successful. Total current assets dropped 16% in year 13 and year 14 for Custom Snowboards. This is a concern and companies that see assets drop are not profitable and over time lose money (Hammel, 2013). Total current assets need to be CUSTOM SNOWBOARDS 9 raised and to do so debt needs to be paid off or even down. However, Custom Snowboards needs to redirect some monies to be utilized during the expansion process. A3. Ratio Analysis The solvency of Custom Snowboards will be reviewed and confirmed by the ratio analysis. Custom Snowboards is seeking a loan for $1,000,000 and has great potential for growth in the snowboard market. The snowboard market has seen a demand for the product and an increase in sales. Income statements and balance sheet from two years of financial information will be reviewed and presented. Profitability Gross Profit Margin Custom Snowboards financial health is determined by the gross profit margin. Year 13 Custom Snowboards gross profit margin was 30.4. This means Custom Snowboards retained $0.30 out of every $1.00 earned. Year 14 saw no change in the gross profit margin. A gross profit margin of only 30.4 is not a strong margin ratio and indicates a weakness for Custom Snowboards, especially when the industry average was 32.1%. Custom Snowboards experienced a reduction in sales and was able to maintain the $0.30 per dollar in revenue, which indicates strength within the company. It goes without saying that profitability will be low when gross profit ratio is low (Horngren, 2009). Custom Snowboards plan to help the expansion project by eliminating expensive liabilities. Net Profit Margin Custom Snowboards net profit ratio was 1.5% in year 13 and with a downturn in sales in year 14 the ratio had dropped to 0.3%. This was well below the industry average CUSTOM SNOWBOARDS of 5.1% recorded by Winter Sports. This is a concern for Custom Snowboards since the business sustainability is in question if profit drops or is absent. Custom Snowboards needs to increase sales and show an increase in profits to ease any concerns lenders may have regarding the company’s efficiency to reverse the unforeseen decrease. Return on Total Assets Custom Snowboards return on total assets was recorded at 5.4% in returns in year 13, which is considered a strong performance. The profitability and sales were strong as well. However, Custom Snowboards return on total assets had dropped to 1.0% by the end of year 14 due to poor sales and profitability. A major competitor, Winter Sports, recorded a more profitable year at 4.8% return on total assets. This demonstrates the competitor was able to control overhead better than Custom Snowboards. Return on Common Equity Return on common equity demonstrates how equity is effectively used to create  more profits and is a significant ratio for the company. The return on common equity for year 13 was 11.4% and is seen as strength for Custom Snowboards. It figures to $11 return on every $100 earned by the company. However, by year 14 the return on common equity had dropped to $2 on every $100 earned. This was subpar and below the industry average. A major competitor, Winter Sports, recorded 8.1% return on common equity ratio. Liquidity Current Ratio Problems with liquidity can be found within a common financial ratio. This will give an idea of what the working capital position is like for that company. Furthermore, CUSTOM SNOWBOARDS it will be a good indicator to determine if a company will be able to repay a debt within a 12-month time frame. A company with a high current ratio often has cash or inventory necessary to pay for short-term debts. The current ratio for Custom Snowboards during year 13 was 6.82. This is an acceptable number, as 2 often is the indicator that determines whether a company is able to pay for short-term liabilities. Again, year 14 saw a decrease in numbers and lost almost one full point in the current ratio dropping to 5.84. This is not a cause for concern, but demonstrates strength for Custom Snowboards and their position to meet short-term liabilities. This ratio is better than a major competitor, Winter Sports, who recorded a current ratio of 4.20. Acid-Test Ratio Investopedia (2013) defines an acid-test ratio as one that determines whether inventory needs to be sold to cover immediate liabilities or if a company has enough short-term assets to do so. Along with a current ratio, the acid-test ratio should have a higher number to be in a better financial position. Year 13 recorded the acid-test ratio at 6.82 and year 14 at 3.64. Year 13 and year 14 are seen as strengths, since an acid test ratio should have a 1 or higher to be considered able to meet current liabilities. Year 14 saw Custom Snowboards lose sales in a struggling economy yet maintain a higher acidtest ratio than the industry average of 3.40. Again, this is seen as strength for Custom Snowboards and the ability to meet short-term obligations. Solvency Debt Ratio A debt ratio is reviewed to see the financial ability of a company to repay its debts and the ability to have a â€Å"cushion† to fall back upon should the need arise. Custom CUSTOM SNOWBOARDS Snowboards has stringently worked to accumulate large cash and cash equivalent balances to help in case of an economic downturn and prevent a cash crisis. The debt ratio was 52.5% in year 13 and 50.4% in year 14. This reduction demonstrates company strength, since Custom Snowboards was able to continue to reduce debt while facing a decline in profits and sales. However, Winter Sports were able to record a lower debt ratio of 38%. Custom Snowboards must develop a strategic plan to increase sales, reduce costs, and reduce current debts so they are able to reduce the risks for insolvency. Time Interest Earned A higher time interest earned ratio is indicative on how well a company can make payments on interest owed for debts. To find this ratio, you must know the total earnings before interest and taxes of a company then divide by the total amount of interest due on the debt. Custom Snowboards recorded a 2.58 time interest earned in year 13 and 1.29 time interested earned in year 14. A time interest earned ratio of 1.5 is indicative of the company’s ability to make payments on the debt. Thus year 13 is strength for Custom Snowboards and was generating enough money to meet the interest payments owed. However, year 14 saw a decrease and a weakened financial position. This was due to a decline in sales and difficulty generating revenue. Winter Sports had a much stronger financial position and recorded a time interest earned ratio of 5.10. B1. Historical Analysis The past and present performance information of Custom Snowboards liability and equity will be reviewed utilizing a horizontal analysis for year 12, year 13, and year 14. The balance sheet and income statement will be reviewed and compared to measure CUSTOM SNOWBOARDS 13 growth and reduction. The review will also look for insolvency so corrective actions may be implemented. Net Profit Net sales and growth in profit is important for company existence. Net sales for Custom Snowboards were recorded at $6,601,00 in year 12 and increased by $32,200 or 0.49% in year 13. Year 14 saw a decrease in net sales and recorded a drop of 3.40% and net sales of $6,407,800. Net sales, when up, indicate strength for a company and are indicative of a thriving business, but when down there is an effect on profit that everyone notices. Cost of Goods Sold The cost of goods sold in year 12 and year 13 increased 0.49% and recorded expenditures of $32,000 more in year 13 on cost of goods sold. This actually amounted to the same as net sales during the same time period. Year 13 and year 14 saw costs of goods sold drop and net sales drop to 3.40%. These can be seen as strengths for Custom Snowboards since they are meeting the demand for their product and demonstrating a relationship between profit and cost of goods sold (Kennon, 2013). Gross Profit Custom Snowboards recorded an increase in gross profits of 0.49% in year 12 to year 13. This is not surprising since net sales and cost of goods sold were recording an increase at this time. This is considered strength for Custom Snowboards because gross profits increased when sales increased. Year 13 to year 14 gross profits saw a dramatic drop of 3.40% or $600,000 due to the decline in sales from the economic downturn and the possibility of competitors selling similar products at reduced costs. CUSTOM SNOWBOARDS 14 Operating Expenses Operating expenses for Custom Snowboards increased 4.21% or $733,000 in year 12 and year 13. This trend continued into year 14 and increased another 2.23% or 40,400 to a total of $1,853,200. Custom Snowboards must find a way to determine how operating expenses can be reduced without raising product prices yet increasing sales. General and Admin Expenses Custom Snowboards increased administrative salaries 4.76% in year 12 and year 13 when sales were increased as well. Salaries also increased during this  time period 13.63%. This makes sense because sales were increased, so production would need to be increased as well. Administrative compensation is a concern upon review and rose from $210,000 in year 12 to $250,000 in year 14. Year 14 saw sales drop and gross profits drop. The demand for products has been reduced and this is not feasible that compensation should continue to increase more than 13%. Executive Salaries Custom Snowboards increased executive salaries 2.63% in year 12 and year 13. The company proceeded to increase executive salaries again in year 13 and year 14 10.26%. This is not feasible and a concern for Custom Snowboards. The company needs to be cutting operating costs and compensation of executive salaries since a loss of sales and demand for products has happened. Custom Snowboards needs to standardize production practices for maximum efficiency, reduce staff hours to compensate for the decrease in production demand, and reduce costs while the demand remains low. CUSTOM SNOWBOARDS 15 Utilities Custom Snowboards recorded increased utility costs of 7.14% or $17,000 in year 12 and year 13 and then a continued increase of 1.96% or $5,000 increase for year 13 and year 14. The increase in year 12 and year 13 is not surprising because the demand for products was higher and sales were increased. The cost for utilities and energy consumption should then have decreased when production demand waned. The utility budget for Custom Snowboards was not realistic, since sales increased 0.49% or $32,200 and that is less than half of what monies are provided within the utility budget. Current Assets Changes in percentages on multiple accounts can affect profitability. Custom Snowboards recorded current assets that changed period to period by increasing and then decreasing. Cash and Cash Equivalents Custom Snowboards recorded an 83.8% increase in cash and cash equivalents in year 12 and year 13. This gave the company a large cash balance and the  ability to meet short-term obligations without problems. A 7.2% reduction in cash and cash equivalents in year 14 was recorded when sales declined. The higher the cash and cash equivalents the more availability the company has to liquidate assets to cover short-term obligations. Accounts Receivables Custom Snowboards recorded a minimal increase of 0.5% in accounts receivable during year 12 and year 13. To have an increase in accounts receivable is a concern for the company since it’s indicative that customers are often having trouble making payments for products purchased. Accounts receivable was improved in year 13 and year CUSTOM SNOWBOARDS 16 14 when a decrease of 3.4% was recorded. This would be strength for the company and indicate the customer has paid for products purchased and revenue is moving in the right direction. Raw Materials Inventory Raw materials inventory increased 0.5% in year 12 and year 13, but decreased 3.4% in year 13 and year 14. To have limited raw materials inventory for production is strength for Custom Snowboards. This limited inventory is easy to store when sales decline and easily accessible when sales rebound and production increases. Liabilities Liabilities are obligations owed on short-term and long-term debts. Custom Snowboards decreased liabilities 5.5% in year 12 and year 13. The company was further able to reduce liabilities 6.2% in year 13 and year 14. This is strength for Custom Snowboards and is indicative of positive financial repayments. Accounts and Notes Payable Custom Snowboards accounts and notes payable increased 0.5% in year 12 and year 13, but decreased 3.4% in year 13 and year 14. This is considered strength for Custom Snowboards and is indicative of positive financial repayments. Total Current Liabilities Custom Snowboards total current liabilities increased for year 12 and year 13 0.3%, but year 13 and year 14 recorded a decrease of 3.4%. This is strength for the company and again shows a positive repayment history that exhibits creditworthiness. This should tell lenders that Custom Snowboards is committed to repaying liabilities even when a decline in sales happens. CUSTOM SNOWBOARDS 17 B1a. Future Performance A trend analysis will be conducted to view financial changes that have transpired over the multiple years within Custom Snowboards. These changes will then be calculated, evaluated and used for comparison to the base year to help develop a plan of action and provide direction for which Custom Snowboards will head financially. The base year is year 12 with $6,601,000 in net sales at 100%. Net sales recorded minimal growth in year 13 at 0.5% over base or 100.5%. Monetarily net sales recorded a $33,200 growth in year 13, which is not seen as a strong growth, especially since the demand for the product was decreasing. Year 14 recorded a drop in net sales to 97.1% from baseline in year 12 and 96.6% in comparison to year 13. This is a concern for Custom Snowboards since sales could not be maintained. Procedures may need to be reviewed to check for inconsistency and inefficiency in production and sales so this may be corrected and sales can be boosted. Pricing adjustments can be made and the product may become more appealing to potential and existing customers. Custom Snowboards forecasts a recovery of 3% in year 15 on the trend analysis, which will help strengthen their financial picture. Management envisions growth and net sales will occur and increase consistently as the economy improves. The forecast for year 16 is not as favorable as year 15 and net sales drop 1% or $100,000. The prices on products will be adjusted to remain competitive within the industry. Management believes the economy will recover then net sales and revenue will improve. Year 17 is forecasted to improve 3.7% over base line or total earnings of $6,647,452. This trend analysis shows the management of Custom Snowboards believes the company can recover and become prosperous and grow. CUSTOM SNOWBOARDS 18 B2. Improvement Revision Line items in use will be reviewed in the overhead analysis to see what is profitable, cost effective and best practice for personalizing snowboards. The goal for Custom Snowboards is to increase net sales and revenue and limit liabilities, while making everyone happy. The company must maintain prices that can be competitive within the industry and European market yet maintain profit margins that are reasonable to succeed. A traditional costing method is currently implemented at Custom Snowboards. The company currently has two product lines, regular snowboards and customized snowboards. The individual type of snowboard and the inventory ordered for each determines the cost of each snowboard. The assumption is the manufacturing cost drives the price of the product. The concern with this type of cost driver is it does not take into consideration all the underlying costs that affect the overall product price (Johnson, 2013). Custom Snowboards must be more accurate in production costs to have increased profits without rising product pricing and remain competitive in the industry. Activity based costing could be something Custom Snowboards wants to implement to help obtain a more accurate picture of production costs. This method allows a company to see the overhead in manufacturing and what each activity actually costs in the production process. It is more accurate and adjustments can be made with specific activities to reduce the amount of money spent. Custom Snowboards produces regular and personalized snowboards. Activity based costing can compare these manufacturing processes and see where the overhead costs are in each step of the production process for each product. The material and labor CUSTOM SNOWBOARDS Costs for both traditional and activity based costing is $3,375,143 for the regular snowboard. The personalized snowboard material and labor costs is $1,177,344 utilizing both the traditional and activity base costing methods. Custom Snowboards has a lump sum overhead charge for manufacturing using the traditional costing method. Regular snowboards sum is $1,068,982, while the personalized snowboards sum is $334,048. Utilizing the traditional costing method the total production cost is $4,444,125 for the regular snowboard and $1,511,392 for the personalized snowboard. Activity based costing distributes costs among the activities it takes for manufacturing to help determine accurate product pricing. Some activities included in activity based costing consideration are product development, quality control, package assembly and shipping, and miscellaneous items. Regular snowboards have a manufacturing cost of $546,863 utilizing the activity based costing method. Personalized snowboards activity based cost for manufacturing is $856,167. Thus, total cost for production for regular snowboards is $3,922,006 and personalized snowboards is $2,033,511. The activity based costing method reveals Custom Snowboards has overspent during the manufacturing and production process while utilizing the traditional costing method. The new personalized snowboards have a greater factory setup cost, but should decrease over time as the product is sold. One improvement identified is packaging and shipping of both products. There is a significant difference between the cost with regular snowboard packaging and shipping costing $266,072 and personalized snowboards packaging and shipping cost of $66,516. This is quite a dramatic difference, especially CUSTOM SNOWBOARDS Since regular snowboards comprise on 20% of sales while the personalized snowboard sells 80% of the sales output. The activity based costing method can help trim costs and overspending while being able to forecast more accurate pricing and sales to ensure a better return on investment. Custom Snowboards could utilize the just in time costing method that follows the principle materials do not sit in the warehouse, but are â€Å"pulled† when the demand is there for the product. This is not an ideal costing method for some businesses, since it leaves no wiggle room when forecasting the future. The just in time method does minimize costs and production time, since these things take place when there is a demand for the product and no excess inventory is left sitting around. This leaves more cash for the company to re-invest and improve costs. For just in time costing to work requires the company to forecast sales and evaluate excess inventory and materials. Custom Snowboards had $143,136 in excess inventory in year 14. This will continue to increase by 0.1% annually if no adjustments are made to production. Custom Snowboards has previously had excess inventory and materials left over annually. Utilizing the just in time costing method can help increase income for the company and help save time, costs, and resources during the production demands. B3. Internal and External Risks Risks that can be controlled by the company are internal risks. Risks that happen outside of the company and the company cannot control are external risks. External risks often happen without warning and this is why companies must have the forethought to be prepared for many things. Some external risks include environmental issues, currency CUSTOM SNOWBOARDS Exchange rates, economic factors, and legal issues both domestic and internal. Internal risks may include production staffing, language barriers, and management structure. Management Structure and Staffing Staffing and management structure would be considered an internal risk since Custom Snowboards will have to make changes in the management structure with expansion into Europe. The company will have business operations in two countries and the goal will generally need to remain the same at both locations. The leaders will need to be both effective and efficient to guide the company to a successful transition. Staffing will play a major role, since multiple positions will have multiple people working in that role in both facilities. The leadership of the company will have to evaluate these positions to maximize efficiency to work towards increased revenue and profits. Loss of Focus Expansion may often cause a shift of business focus to change and move away from important issue like quality assurance, production efficiency, and production deadlines. Leadership must ensure the company has a strong core to stay focused on the business goals for current and future project successes. Language and Cultural Barriers Expansion into Europe is bound to cause language and cultural barriers. A new country and market can cause interactions to be strained if language and cultural barriers cannot be breached. Language is important in business to ensure communication is effective the company must have leaders that know the language in the new country and are sensitive to the cultural differences for a successful expansion. It would be CUSTOM SNOWBOARDS Deferential to offend potential customers, thus ruining company relations. The business goal is to prosper. Currency Exchange Rates The expansion into the European market will require Custom Snowboards to deal with foreign currency. The foreign currency rates change frequently and Custom Snowboards will have to convert this into US Dollars. The company will have to ensure they are not losing money on their products and they are not overspending on production costs. The company cannot control this external risk factor, but they do need to try and prepare for any eventually that may affect the company. The US economy may be strong, but a variety of things can cause this to crash and the same goes for the European economy. Foreign economy can lead to large fluctuations and for great revenue gains, but it also means it can cause big losses as well. International Legal Risks International and US legal risks are similar in nature and can cause several problems. Custom Snowboards must understand the tax laws and operations as it expands into the European market. The company must understand the legal standards of the business operations in the market. The company must ensure they have met all the obligations of the law within the countries they will be providing services to and to defray any problems that may arise. Also, by understanding these laws Custom Snowboards can eliminate costly legal fees and fines. Environmental Risk An external risk beyond Custom Snowboards control is an environmental risk. Snowboards require snow and winter. Environmental factors can severely affect sales of CUSTOM SNOWBOARDS Snowboards. Dry, warm climates are less likely to need a snowboard. Marketing is important in this aspect and should focus on areas that have winter seasons and snow. European areas vary in climate and marketing should focus on areas that are prime for skiing. Weather patterns may also play a role in environmental risk. El Nino and La Nina can affect the winter season and how much snow and how cold the area actually gets. Complete Customer Service Customer service is important with any business. The goal is to help resolve any issues a customer may have to reduce the dissatisfaction. Custom Snowboards will have a large area to cover within the European market and must be cogzignant of a wide variety of languages and customs to be aware of. Customer support should be convenient for all consumers. A positive customer service experience will lead to good reviews and word-of-mouth sales, which boost revenues. Poor customer service travels fast and would hurt Custom Snowboards and reduce sales and revenue. Reputable Suppliers Custom Snowboards must be able to get products to the European plant to produce the snowboards. Communication skills are key to dealing with business partners to reduce any potential obstacles. Business practices must be clarified to avoid any complications. Product quality must be written contractually to avoid any possible confusion. Individuals with good communication skills must be placed in the positions to help secure these suppliers to keep product quality the best and available for production. CUSTOM SNOWBOARDS B3a. Recommendation Management Structure and Staffing A management and staff model must be developed and utilized to mitigate risks. The plan must outline the company’s organizational chart and who reports to whom. The organizational chart will outline each department of the company and the staff that are identified within each department. The company will then develop specific job descriptions for each position to  clarify the role and expectations. Custom Snowboards management team will then be able to identify what positions are exactly needed and where cuts can be made. This will help ensure the strongest staff is in place for the expansion to deal with issues as they arise. A plan in place will ensure the company can ensure smooth transitions for future expansions. Loss of Focus Loss of focus in current business practices requires a business plan to keep the company trained on the goal. The business plan will actually outline the goals Custom Snowboards has and where they want them to lead to. The company will implement the staffing plan into the business plan to mitigate risk. A taskforce will be formed that will focus solely on the management of the US plant, but will receive updates on the planned European expansion. Language and Cultural Barriers Language and cultural issues require training and education to reduce risk. Employees who are educated on languages and cultures are more likely to be comfortable and less likely to offend the customer. Custom Snowboards can hire interrupters’ to help staff until all are comfortable within new positions and skills have been attained. The CUSTOM SNOWBOARDS 25 company should also consider hiring staff from all different cultures to strengthen the moral and company. Custom Snowboards should hold training seminars frequently to reinforce cultural identities served, especially when employees will be traveling to a new area. Currency Exchange Rates Currency exchange rates are external risks, but Custom Snowboards are preparing to reduce any damage that affects the company. The exchange rates change frequently. The company will want to compare products with competitors to understanding pricing concerns prior to the expansion. The cost for production should carefully considered reducing all necessary overhead to increase revenue. The European financial market trends must be evaluated and then trend projections can be created. The financial market is not totally predictable so it not able to mitigate risk completely. International Legal Risks A legal team that is well versed with international law is key to reduce risk. Also, a management team that is aware of potential pitfalls and risks associated with international is key to have in charge during expansion. The company must comply with all laws and ensure they understand all the laws of the countries that they will be doing business with. The company should educate staff on what laws are pertinent to their respective departments and keep them abreast of changes. Custom Snowboards should ensure they have enough cash available to survive, should issues arise. Environmental Risks Custom Snowboards has absolutely no control over the environment. They can ensure plants and warehouses are up-to-date and in stable condition to be able to weather CUSTOM SNOWBOARDS Any type of weather they may encounter. Production needs to take place in multiple areas, so should something happen to one area they can continue production without further losses. Custom Snowboards can review and analyze annual weather reports to help forecast trends and be prepared for the unexpected. An environmental risk can take many forms and is hard to predict and control. The company must have multiple contingency plans in place for this reason. Customer Service Customers are essential to a business. The profitability of a business relies greatly on how satisfied a customer is, repeat business and potential new customers because of word of mouth advertising. A toll free call center will allow customers to call in with any questions or concerns regarding the products purchased. Custom Snowboards staff will be able to address these concerns and questions, but only after undergoing an educational training session and establishing a process standard of communication. The company will develop a communication and relationship curriculum to help focus on long-term relationships (Joseph, 2013). Reputable Suppliers Custom Snowboards must research suppliers available within the area of the  European expansion to ensure a reputable supplier is found that is both reliable and has quality products. The business terms and contractual details must be attended to minimize the chance of fraud. The contract must be written in terms that both parties understand to ensure no misunderstandings take place. It would be helpful for Custom Snowboards to employee area natives to help interpret when needed. CUSTOM SNOWBOARDS B4. Potential Returns Custom Snowboards is planning to expand into the European market. They will expand their customer base, increase revenue and experience a growth rate. Projected annual sales are expected to increase for year15 to year 19. Year 15 annual sales of $1,271,720 are projected and expected to increase to $2,390,085 at year-end of 19. Also projected to increase is net cash flow especially as this has a direct relationship with the cost of goods sold. The forecast net income peaks at $256,703 in year 19 up from $98,550 in year 15. The European expansion is projected to build a strong financial future for Custom Snowboards. The Net Present Value and Internal Rate of Return are reviewed when looking at the capital budget of a business. The future value and present value of a company is indicated based on cash flows under the net present value. Custom Snowboards is ready to invest $1,000,000 into an expansion project in Europe. This is based on cash flows over five years and the present total value of the company with a market change factored in or $1,028,437. This means the company will be profitable in the European market and see a return on their initial investment. The internal rate of return looks at the rate the project grows at. Custom Snowboards looks at to return 10.8% over 5 years based on the initial $1,000,000 investment. The minimum rate of return or hurdle rate is set at 10%. This means the company will make a profit in the future on the initial investment. The net present value and internal rate of return are beneficial to companies when predicting future growth on investment. Companies tha t have a strong net present value and internal rate of return are able to secure loans and expand. This is important for the future CUSTOM SNOWBOARDS 28 successes of companies. Custom Snowboards is predicting returns on their initial investment with the European expansion and increases in revenue. Custom Snowboards must evaluate their fiscal responsibility to determine if leasing or buying is in the best interest of the company. The company will need to put a $50,000 down payment from working capital and $800,000 to either buy or lease a facility. Analysis determines purchasing a facility would be in the best interest of the company. The present value outflow to lease is $653,355 and $597,723 to purchase a building. The tax deductions available would provide a benefit to the company as well. Custom Snowboards should consider obtaining borrowing money for a long-term debt from an outside source. The optimal capital structure that would provide the best return is to fund the project in Europe over five years. This would allow for 1.547 earning per share to accrue even though the debt will require a 6% interest rate on return. This will also help preserve cash flow since a constant repayment is easier to budget and earnings can continue to grow. Custom Snowboards is reliable and creditworthy. This will be easier for them to obtain the long-term debt. Debt financing can provide a benefit to Custom Snowboards since they would be able to deduct interest on the business taxes at the end of the year (Daniels, 2013). Having an outstanding debt can be a downfall for a company as well. The company is under the obligation to make payments to the lender in a timely manner and if the projected revenue is not as expected this will be detrimental to the company and capital structure. The budgeting process will help Custom Snowboards decide to expand into the European market. The management team must look at all the capital budgeting CUSTOM SNOWBOARDS 29 techniques to understand the total viability of the project. The decision will not be an easy one, but will require careful review of the entire financial picture. B5. Summary Custom Snowboards has demonstrated that European expansion is an idea that is viable for the company. The company must now decide if they wish to build, merge, or acquire within the European market. This will not be an easy decision, but meticulously made after analyzing the capital structure and  corporate strategies. Custom Snowboards has the option to build a new plant within the European market. They would need to determine where the plant would be located and acquiring the necessary land and permits. The company would be required to start from scratch to get started. The plant would be built to the company’s specifications and could be economical, but would require a large amount of money for start-up initially. Buying a building is another option available to Custom Snowboards, but ties the company to the area. This would be the smartest move based on the financial data available. It would be cost effective and allow the company to move in after the building is adapted to the needs of the company. However, leasing a facility would give Custom Snowboards the opportunity to leave the area if the forecasted expectations are not attained and things are not as viable as hoped. Custom Snowboards has the option to merge with SnowFun, Inc. This would provide the expansion into the European market that Custom Snowboards desires. The merger would provide the opportunity to increase profits, earnings per share from $0.98 to $1.18, have less competition, and expect a strong return on investment. SnowFun stockholders will benefit more from the merger than Custom Snowboards in regards to CUSTOM SNOWBOARDS 30 earnings per share, since SnowFun will see earnings per share will go from $0.26 to $1.18. Custom Snowboards would have 200,000 market shares pre-merger and 500,000 after the merger has taken place. Custom Snowboards can buy shares back to reduce the amount available to the public and the stockholders will increase the earnings per share. This would be beneficial to the stockholders, but is not always available immediately after a merger has taken place. Custom Snowboards would also see increased company worth if a merger took place. They would gain invaluable contacts from SnowFun and gain insight on the European snowboard market that they would not otherwise have. However, a merger would leave the company with excess employees. This can lead to disgruntled employees and low staff moral. Customers may be aware of this and shy away from purchasing products from this newly merged company. Custom  Snowboards will need to ensure everyone feels valued and is happy. It would be beneficial to find displaced employees another position, but that is not always possible. This would go along ways to reassure customers as well, as it shows the company is willing to make concessions to keep the customer happy and taken care of. Finally, Custom Snowboards could acquire SnowFun, Inc. Custom Snowboards would then have to buy out SnowFun and acquire full ownership of the products, materials, and debts they have. SnowFun is requesting $720,000 from Custom Snowboards to acquire full rights to the company. The net present value of SnowFun is $732,522. An increase of $12,522 would be seen for Custom Snowboards over a fiveyear period. This option would increase the earnings per share to $2.40. CUSTOM SNOWBOARDS As mentioned with the merger option, Custom Snowboards would gain invaluable contacts from SnowFun and gain insight on the European snowboard market that they would not otherwise have. The company would increase earnings per share for stockholders. They would have factory and production equipment readily available to start production right away without delay. They would gain product development knowledge from what SnowFun had previously completed and this could lead to refined processes of current products. However, a merger would leave the company with excess employees. This can lead to disgruntled employees and low staff moral. Customers may be aware of this and shy away from purchasing products from this newly merged company. Custom Snowboards will need to ensure everyone feels valued and is happy. It would be beneficial to find displaced employees another position, but that is not always possible. This would go along ways to reassure customers as well, as it shows the company is willing to make concessions to keep the customer happy and taken care of. Also, it is hard to integrate two companies and acquire the debt from SnowFun. This could harm the company if they do not budget for this newly acquired debt. Custom Snowboards best option is to decline the offer to acquire SnowFun, but to merge the companies. The costs to start a new company would be limited and there would be a readily accessible building, contacts, product knowledge, market  knowledge, and increased earnings per s hare. Not all employees will be able to retain their job, however the employees that remain will be the most knowledgeable regarding the product to boost sales and revenue. This will help the company attain the success it hopes to achieve. CUSTOM SNOWBOARDS 32 B6. Presentation The recommendation was made to initiate a merger between Custom Snowboards and SnowFun, Inc. The financial information reviewed shows the companies will produce an increase in capital from net sales and reduce production costs. This will provide the stockholders with a higher return on investment due to growth after the merger has taken place. Merging will not require Custom Snowboards to acquire a large amount of funding or long-term debt since a stock exchange will take place. The earnings per share for Custom Snowboards will increase $0.92 and SnowFun $0.20. A total of 500,000 shares will be available after the merger. SnowFun will receive 3 shares to every 1 share that Custom Snowboards receives. There are four structures to review: Long term debt, 30% long term debt and 70% common stock, 80% long-term debt and 20% common stock, and no long-term debt (common stock only). Custom Snowboards hopes to obtain $1,000,000 through one of these types of structure. The earnings per share for each year based on earnings before interest and taxes from the European forecasts for year 15 through year 19. Earnings Per Share Year 15 Year 16 Year 17 Year 18 Year 18 Year 19 Long-Term Debt 0.034 0.203 0.407 0.589 0.720 1.953 30% Long- Term/70% Stock 0.068 0.130 0.204 0.270 0.318 0.99 80% Log- Term/20% Stock 0.052 0.165 0.300 0.422 0.509 1.448 No Long- Term Debt (Stock Only) 0.072 0.121 0.179 0.231 0.268 0.87 CUSTOM SNOWBOARDS 33 The long-term debt option would be the second choice for expansion for Custom Snowboards should they not want to merge. The total earnings per share in year 19 would be $1.953 and higher than any other option. The long-term debt would also have consistent payments monthly that would be easier to budget and to forecast sales against. Custom Snowboards is a viable company that is growing and making advances. Areas of improvement do need to be made to continue this progressive growth, but they are in a position to expand into Europe. Thanks to financial responsibility they are in the position to take on debt if necessary to make this expansion happen. A merger with SnowFun, Inc. would provide virility to the company and provide a positive base for continued growth. CUSTOM SNOWBOARDS 34 References Hunt, J. 2013. What determines a Company’s Profitability? Retrieved on May 11, 2014 from http://smallbusiness.chron.com. Investopedia. 2013. Activity-Based Costing – ABC. Retrieved on May 2, 2014 from www.investopedia.org. Investopedia. 2013. Operating Income. Retrieved on April 30, 2014 from www.investopedia.com. Johnson, R. 2013. Traditional Costing Vs. Activity-Based Costing. Retrieved on May 3, 2014 from http://smallbusiness.chron.com. Joseph, C. 2013. Advantages & Disadvantages of Customer Service Jobs. Retrieved on May 11, 2014 from http://work.chron.com. Kennon, Joshua. 2013. Cost of Goods Sold – COGS. Retrieved on May 11, 2014 from http://beginnersinvest.about.com. Markgraf, B. 2013. How to Increase the Net Operating Income Without Increasing Sales Retrieved on May 7, 2014 from http://smallbusiness.chron.com. Stone, R. 2013. 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