Deforestation as an Environmental Problem Assignment

Deforestation as an Environmental Problem - Assignment Example The aim of the discourse, therefore, is to provide a short report on the subject of deforestation by: (1) providing a brief summary the problem; (2) by outlining its causes; and finally, (3) analyzing some possible solutions to the problem. Brief Summary of the Problem Deforestation is defined by the Food and Agriculture Organization (FAO) as referring â€Å"to change of land cover with depletion of tree crown cover to less than 10 percent. Changes within the forest class (e.g. from closed to open forest) which negatively affect the stand or site and, in particular, lower the production capacity, are termed forest degradation† (Food and Agriculture Organization, 2000, p. 1). Deforestation is regarded as an environmental problem for the reasons that cutting of trees or depletion of forests and woodlands leave insufficient numbers of trees which have been proven to store vast amounts of carbon needed to prevent continued global warming. Also, due to clearing activities in forest s and agricultural areas, the burning of trees emit substantial carbon dioxide in the atmosphere, which is deemed contributory to the green house effect (Oracle Think Quest n.d.). Likewise, trees also have natural abilities to aborb water, if vast amounts of trees are uprooted and cut, the deforested region is therefore prone to floods or extreme dryness, causing further destruction of lives (human, animals and plants). Concurrently, trees and forests have been revealed to function as ways for conserving biological diversity where various flora and fauna have survived in their natural habitat. Deforestation through natural (storms, blizzard, eathquakes) and human induced activities disrupt and contribute to the loss of biodiveristy which eventually leads to extinction of endanged species. Cause of Deforestation As revealed, the causes of deforestation are varied; ranging from finding other alternative uses for the land for planting, grazing animals, being used as residential areas d ue to population expansion, being allocated as roads, subdivisions, and even for logging (Oracle Think Quest, n.d.). As deduced, deforestation is caused by human activities to satisfy diverse human needs. According to the FAO Key Findings Report on Global Forest Assessment in 2010, â€Å"deforestation – mainly the conversion of tropical forests to agricultural land – shows signs of decreasing in several countries but continues at a high rate in others. Around 13 million hectares of forest were converted to other uses or lost through natural causes each year in the last decade compared to 16 million hectares per year in the 1990s† (FAO, 2010, p. 3). Possible Solutions At the onset, one could analyze that the solution to this dilemma is straightforward: to replant trees and to stop cutting those that are still currently surviving. However, to implement this, those identified to be authorized to maintain, monitor and restrict cutting and focus on preservation and c onservation must design strategies and plans for management and governance through policies and regulations. As disclosed by FAO (2010), â€Å"80% of the world’s forests are publicly owned, but ownership and management of forests by communities, individuals and private companies is on the rise†

Strategic Planning Goals For Sony Inc

Strategic Planning Goals For Sony Inc Sonys current financial difficulties are tied into its corporate culture which was stated over 30 years ago. With such a large multinational corporation, greater planning and more use of strategies should be pursued. Sony could start with the implementation of a new mission statement, with profit and benefits of the company tied more closely to everyday operations. Internally, the four forces, the management, the designers, the production and the marketing should achieve better communication and cooperation. Alliance and cooperation between competitors should also be actively sort after in order to create standards in new fields. Sony should aim at being the leader instead of being the maverick. As for cost cutting, Sony should seriously consider setting up operations in other Asian countries in order to take advantage of the cheap labor and the budding markets. Finally, diversification, instead of pursuing the fast changing and easily imitated consumer goods market, Sony should use its technological know-how for high end business and office equipment. With SWOT analysis and Porters competitive forces model, we can view that the market is much more competitive with less profit margins and lead-time for product innovation. The conclusion is that change is needed in Sony. However, even with strategical and structure change, the Sony spirit of innovation should remain intact because that is what made Sony grow and would make it stay strong. Task 1: Sony Corporation is the electronic business unit and the parent company of the Sony group; it is engaged in its business through eight operating segments which are consumer products and devices, networked product and services, disk manufacturing, pictures, music, financial services, Sony Ericsson and all other. It is the first thing that comes to people minds about Sony company and its products is its high technologies filled with gadgets and product innovation, it was this innovation that has made Sony a big brand. It has used innovation in building markets out of thin air that changed everyday household lives forever. History and culture The current Sony corp. has a unique culture pattern in her history which is firmly rooted in relationship to her two founders Masaru Iuka and Akoi Morita. As everybody knows they both were the most dedicated electric engineers and geniuses above their business talent. They made umbrella strategy where lower engineers actively learned, developed and improved on the vision. Also it has been observed that the RD section of Sony differ greatly from other companies with its greater flexibility. In Sony there is a life time employment with strong norms and values which in turn create strategy through their actions. Collective vision and stress can be clearly seen in the strategies. Effects of current business plan The strategic planning team is the visionaries behind our business. The key components to Sony electronics is that they support and drive the developments and execution of company wide initiatives. More importantly is that they touch the very aspect of business. Whether its from engineering to marketing they assist Sony business units in generating new and emerging business and cross organizational opportunities. They provide overall advisory and financial analysis support across our global portfolio of B2B and consumer electronics product groups. Sony has also announced significant moves to strengthen its competitiveness for which it is continuously focusing on electronics, games and entertainment. Also the company is revitalizing its electronics business through further structural reforms and promotion of a well defined growth strategy. Sony is also centralizing its decision making authority over key areas under electronics CEO. For product planning it is focusing on technology procurement and streamlined decision making across product lines. This in turn would permit uniform development between our products and thus assures decisive and rational RD planning and spending. For our growth strategy in electronics business they are leveraging all resources including motion, pictures, music, games and our brand recognition to deliver more appealing products and services as the worlds leading electronics and entertainment company. SWOT ANALYSIS Strength Sonys greatest strength is their ability to produce innovative, quality products. Its web page itself states Sony innovation has become part of mainstream culture which includes the magnetic tape and tape recorder in 1950 and so on. Its PC world also published the most innovative products for the year 2006. It has continuously managed to be competitive and stay powerful organization by learning from past failures. It has been continuously learning from their mistakes and has always taken corrective measures in effective and efficient manner. And strength is their ability to be successful in several different markets. They have made an impact in the video game market, the PC market, and especially the television market and there are still numerous others. Weakness Sonys biggest and most recent weakness is their lack of innovation with PS3. Sony focused on digital technology when building the PS3 and it has the ability to export video in high definition. But later on the result came out to be where it was clear that this technology can be viewed on a high definition TV, also lot of people will not be able to see the full potential it has to offer. Opportunities It seeks a lot of opportunities that utilize their strength in innovation. The best opportunities which the company is having are design also it is integrated into every step of process-intelligent feature, user friendly application, innovative materials of course visual appearance. Sony is also known not to copy any of its competitors so it has gained reputation. The marketing department of a company has also increased advertising techniques due to which it is having an opportunity to attract new customers. Also the company is trying to sell there products at a cheaper rate to attract customers. It is also having opportunity and can decide to extend more overseas. Threats A common threat which the company is facing is in sales. Sony Vaio is it newest innovation in notebook computer for which it needs to compete with the brands of other companies who are already there in the market from long time. Competition in not the only threat which the company is facing recently it had to make a public apology concerning the use of a back drop in a violent video game. Also the recent reports have showed that most of its products are forged and sold as fake product. It also lacks the direction of strategy. TOOLS Pest Analysis is another marketing tool to analyze the strategies and functioning of a company. PEST analysis examines the change in the market place caused by Political, Economical, and Social Technological. Political factor changes involve one party to another who are in control for e.g. Rise in private healthcare privatization which is under the conservative government. Whereas social factors will include changing lifestyle attitudes Technological factors involves changes as the public see it this creates opportunities for the new product such as internet, e-commerce. Last not the least economic factors changes include such as recession creating activity at the lower end of the product price ranges. Political factors within Sony These factors can have a direct impact on the way Sony operates as we know decision made by government effect everyday business and can come in the form of policy legislation. These factors have a huge influence upon the regulation of businesses if you talk about the company the factors which includes government laws such as the introduction to the minimum wage affects the employees of Sony as the hourly rate increases each year every time. Understanding of activity from organizations in the market Managing Strategic Uncertainty The main thing which Sony must do is to make strategic commitments to unique assets or particular capabilities that will make difficult for competitors to imitate. The downside of this commitment is that if you make the wrong commitments based upon incorrect beliefs about the future, it can take a long time to undo them and make new ones. The responsibility must be charged in some organization for delivering on the commitments the organization has already made, for which the company need to make reviews of what it has set to achieve and regular follow ups while other in the organization must take responsibility for mitigating risk that accomplish uncertainty and opening up promising new opportunities. Task 2: Need and Expectation of the Company Stakeholders Every organization or company will get success in market by their product and services which is served by their employee. Thus employees are the key source of Sony Ericsson group and its main objective is to maintain high performing team which can attain all organizational objectives. Also looking for those employees who are self motivated and which can satisfy customer needs with their services and make difference to for shareholder, customer and themselves. Although company operates some training program as well to train their employees and to learn them more and more skills. Even Sony giving equal opportunities to their employee and also giving opportunity to get more experience from other organizational firms. Till financial year 2010 Sony has more than 98000 full time workers in different sectors, including managing body across the globe. Also there are large amount of workers approx. more than 40000 who are doing work indirectly for Sony Ericsson through agencies, distributors, contractors, etc. Eventually their human resource policy is fair enough for all employees as well and also its regardless of gender, ethnic origin and disability. Sony has also providing extra facility to disable persons which motivates that person for their secure future. Sony Ericsson has very vast list of their distributors which can deliver companies goal easily and effectively. It has around more than 25000 suppliers across the globe and invests approximately  £30 billion in every financial year. Sony has majority to derive maximum value and also ensures actual suppliers who are engaged and operates in a strategic sourcing process. Sony Ericsson served their customers in telecommunication sector across the world and aims for value package to customers and also offers basic discount to all segment of customers as per their worth. Also taking specific action to deliver customer services which aims to make good mobile products and accessories. Sony has one of the largest investments in communication industry. For making this worthful company has to study all facts related with market and consumers demand also get feedback from their fixed consumers. Otherwise the result will comes out in negative sense and also new facilities which failed due to short earning and insufficient sales. However Sony has set of purchasing principles which ensure acts ethically and commercially, who will responsible in business dealings with global supply. Sony realized that very well about their workforce who improves their efficiency and service. By strategy implementation and several approaches Sony will get gain maximum contribution through senior management of the company. Task 3: Vision: Sony has long term vision for their successful enterprise which determines to create and capture the market; where company wants to run their business and achieve their organizational objectives. Also increase its durability and reliability. There has been categorized in different manners which can describe below: Environmental vision towards sustainability The core responsibility of the Sony Group to society is to pursue the enhancement of corporate Value through innovation and sound business practices. The Sony Group recognizes that its Businesses have direct and indirect impact on the societies in which it operates. Sound business Practices require that business decisions give due consideration to the interests of Sony stakeholders, including shareholders, customers, employees, suppliers, business partners, local communities. Sony today announced its environmental vision towards sustainability which outlines the Sony group fundamentals environmental policy. It states both basic philosophy and specific numerical targets and announces the target of double eco efficiency. The growth of stakeholders concerned with environmental issues where consumers are expressing increasing concern, also the company has to rate themselves according to environmental measures. In many nation government is introducing environmental taxes and schemes for CO2 emission rights. Hence company knows and realizes the development of a sustainable economy it is necessary to combine ecology and economy together in management policy. The environmental vision towards sustainability works from the highest concept to the most specific targets to realize a sustainable society. Mission: To give customer satisfaction in terms of good services and qualitized products and also want to measure their progress through key essentials which can described below: Customer Service: It is an integral part of every business by which company get success and achieved all organizational targets or objectives. As fact shows that company is increasing their customer services on every year like in 2008 Sony provides service to their customer approx. 10% which increases in 2009 and reached upto 23% and in 2010 we will get very positive result which rise upto 35% ; by that companies trust and image is improving year on year. Free Cash Flows: Free cash flow is increasing every year and it also depends on financial health of company which sustainable depends on companys wealth. Free cash flow in 2010 was  £2143 million, compared with  £1134 million in 2009. Earning Per share: Every company has to maximize their shareholders similarly Sony has done with their objectives; by which company will move towards their indicators. 1) Building of strategy With the succession of the two founders it would be very difficult for the company to find someone as visionary and for them to lead the umbrella strategy company with Sony which is the international company having different major branches listed in 23 stock exchanges building a strategy is a tough job. Strategy should be made in such a way to generate more more profit for which the greater emphasis should be on market share especially in Japan where Sony market is shrinking. There should be better coordination between the engineers in the RD department. 2) Diversification. For the company to diversify it should concentrate more more on electronic know how in non consumer the competition are also able to copy in a much short time. This would make full use of the RD department which is the strongest advantage of Sony without waiting for the price cutting technology adaptation. It should also able to use its unique talent in videos semi conductor technology to create its version of the office of the future. 3) Alliance corporation Sony should try to become a leader instead of maverick. The new product which the company is launching it involved both hardware software so it should try to achieve industry wide standard. By pioneering in the field first the standards is just a way to ensure stability to allows Sony to concentrate and on product development improvement they also lack the know how to the creative software market. company should also focus on the product line to make it more compatible with one another which is crucial through the communication between groups managers .So that it may able to build brand loyalty for customers. It was same like when Japanese took over the US market through cheap yet quality consumer goods other Asian countries with their low labor cost pose as great competition at the lower end of consumer good. 4) Cost cutting It is important for the organization because RD place an integral part in the success of Sony cannot be cut drastically since it gobbles up 10% of sales. As we know company I is having factory in US Japan. But Sony is not fully making use of lower cost areas in the world especially Asian countries. Since it can take advantage of there cheap labor and can also get a head start in their budding consumer market. 5) Integration of production design Marketing In every organization designing developing of a product is a different process from the production marketing. As we know the design is backed by intuition experience rather than market research analysis. So to cure this phenomenon the RD department should listen more toward the consumer need and then innovate instead of creating new markets. They should also be made responsible to the profit loss of a particular product we also cannot deny the fact that it also brings these efficient groups together to achieve synergy. 6) Implementation When we talk about implementation it is important for the company to integrate together with the Japanese work ethic its western counterparts because Sony is a kind of MNC where there are people working from different country for which company needs to involve writing the importance of profits its responsibility to its shareholders. More More communication integration should be made between the department like designing, production marketing. Company should also decide the standard which the world is adapting and accordingly should take decision to cut off setbacks. However the end product ratio between consumer business product should be constantly reviewed through out the process to achieve optimum mix. Task 4: External factors and adaptation of Sony Corporation Sony adopts many methods of cost reduction which prevailed economic situation in country. In year 2010 cost reduction activities which delivered some are changing steps with a reduction of operating cost and capital expenditure. Even though all business and internal services has deliver these savings, which focused on eliminating failure cost, also analyzed overhead value program which reduced cost with structural approach on project basis. These all aforesaid actions will reduce cost more consequently. Also it has improved service delivery and supply terms which would be expected to achieve further benefits in current year. Like every company Sony also has many functional areas which can be categorized and described given below: Technology Development: Sony has brand image on which company have to stay on their parts and commitments which they given to their consumers, distributors and others. It is also known for its best services and good quality of technological products which doesnt occur problems or errors frequently. In Sony their products are full of advanced technologies which make human life better and easier. Sales and Marketing: It plays very vital role for every organization similarly this function is important for Sony Corporation. Without proper functioning and managing this sector; surely every business function will not get succeed in their task. Sales and marketing are those segments which generates cash flow and revenue. Since for improving their market and business; Sony has adapting some effective marketing strategies on different categories. In this competitive world nowadays company will focused to build strong relationships of customers. Even provide extra customer service with free of cost to all segments of customers; which makes to give security of product to all customers and also reduces supply and carbon emissions. Additionally company is always set their mind to use and investigate more and more renewable electricity or new technologies such as by developing own wind farms which give advantage over others. Human Resource Management: This sector is a backbone of every organization which managed human beings as per organization requirement and its role to satisfy organizational workforce needs. Further improper and ineffective function creates massive loss to the company. Till 2010 financial year Sony has more than 25000 workers who works in the company as a full time worker and more than 45000 peoples indirectly worked for company through agencies, distributors, contractors, etc. It also makes eco friendly environment without following any ethics and origin, regardless of religion, gender and disability. Eventually Sony has proud on his human resources department which plays important role in their successive path. Although Sony also deals with some specialist recruiting agencies which attract people to work in its organization and meanwhile they can judged special skills in employees by creating competitive advantage. With the help of that Process Company has list of number of talented peoples which makes worth for the company. Task 5: Competitive Strength and weakness of Current business Strategies of Sony As we all know that time is money in very general and it is actually money for all segments like business, individuals, professionals, etc. In strategy firstly considers important task and involves strategy to develop time table in terms of giving exact preference on all segments as per business demand. Thus strategy implementation is very important for business and also have to make keen observation about investigation under resources how much time every operation will take? Then after start new operations and keep control on going operations. Lastly if any deviation occurred at the time of operation then sometimes to get back is the right decision and sometimes to resolve that on timely, so that it depends on situation how much it make worth according to business vision. However the final element to control business effectively and to make strategic control, the strategic planning process is essential. In planned performance the review of actual performance is monitored by supporting organizational learning and enabling the improvement of performances. Also provide rewards to the employee who attain company objective very efficiently which based on strategic issues and also helps in identifying and communicating the drivers of success. Furthermore all strategies planned and organized to make benefits for company. As per number of criteria strategies might evaluated on suitability, feasibility and acceptability. The acceptability of strategy indicates view of stakeholders and feasibility indicates organizational adequate resources. Eventually suitability refers logic of strategy. The key for internal and external success is to manage time effectively and actively participate in every segment of requiring business by which we can make our successive pr oduct and remain keep our corporations brand image. Conclusion After analyzing the whole situation and surveying the business plan the conclusion which can be drawn for the company is that Sony Corporation fined it impossible to create any kind of sustainable competitive advantage based on product alone. It is also always being observed by everyone working in a successful company that they continuously work to know how to create a customer centered competitive advantage of this company the key internal strength are the appropriate effective marketing strategy but on the other hand if you talk about flaws of the marketing strategies declares the company on major internal setback. Sony also have the potential to innovate into a company with international operations as well as culture since it was one of the first Japanese company to set up a main branch in the US. With strategy luck Sony could become a great firm as it was will be.

The Cult You’re In Essay -- Literary Analysis, Kelle Lasn

Everyone is in a consumer’s hypnosis, even if you think you are not. When you go to a store and pick one brand over the other, you are now under their spell. The spell/ hypnosis is how companies get you to buy there things over other companies and keep you hooked. Either through commercials or offering something that you think will make your life better by what they tell you. For example, you go to the store and you need to buy water, once you get to the lane and look, there is 10 different types of water you can buy. You go pick one either because the picture is better or you seen the commercial the other day and you want it. During the length of this paper we will talk about two important writers, Kalle Lasn the writer of â€Å"The Cult You’re in† and Benoit Denizet-Lewis writer of â€Å" The Man Behind Abercrombie & Fitch†. They both talk about similar topics that go hand and hand with each other, they talk about the consumers â€Å"Dream†, how companies recruit the consumers, who cult members really are, how people are forced to wear something they don’t want, and about slackers. What is The Dream we all have? Think about the main things that you strive for in life. Well everyone else in the world has the same dream because companies or â€Å"cults† in bead this dream to pull you in to their â€Å"cult†/ group. They make it seem that you will be happy with having this dream and they can help you get close to it by you buying their stuff. Lasn specifies on this dream everyone as he said â€Å"Dream by definition, are supposed to be unique and imaginative. Yet the bulk of the population is dreaming the same dream. It’s a dream of wealth, power, fame, plenty of sex, and exciting recreational opportunities† ( lasn, 380). This dream is feed to us by the peopl... ...teens can shop elsewhere ‘In every school there are the cool and popular kids, and then there are the not so cool kids,’ he says† (Denizet-Luis, 369). So if your different then there target audience you don’t belong in the group which would consider you a type of slacker. All and all, we are all in a consumer cult if we want to or not. If you go to the store all you see is brands and you need to buy one no matter what. But what you can do is stop over buying things you don’t need that you think will make you happy. The companies are manipulative in many ways because they show you this â€Å"dream† of a life by buy their stuff, once you are hooked on it they recruit you, bring you in to the cult, make you do stuff you don’t want to, and then if you become a slacker they alienate you away from the other â€Å"cut† members so you can’t influence them to become a slacker too.

Kingdoms of Egypt and Nubia Essay

Historians once thought that the human race began with the white Greek and Romans. Present day archaeologists are telling us that the cradle of civilization is in the Nile Valley of Africa. Two rival kingdoms called Egypt and Nubia have much in common but they also have their unique differences. In my essay I will explore some of these similarities and differences. Egypt and Nubia were both ruled by monarchy, which shows that they had an advanced form of political organization. Archeologist’s findings show that the symbols of Nubian royalty are the same as those of Egyptian Kings. They believed that they were god-Kings and built large pyramids to spend eternity surrounded by there riches to keep them comfortable after death. The difference between the Egyptian and the Nubian monarchy is that the Egyptian monarchies were all male rulers but Nubians monarchies were both male and female and held power jointly. Egypt and Nubia both traded with other countries to acquire the goods they desired. Egypt had few natural resources but was involved in manufacturing glass, paper, perfume, cosmetics and fine linen fabric. Egypt wanted to trade these for the different products from Central Africa. Nubia had many natural resources such as gold, ivory, copper, frankincense, iron ore, hardwood timber, ostrich feathers, leopard skins and elephants. Nubia traded these along with their pottery and manufactured goods. The powerful, wealthy black Nubians Kings controlled the trade routes between central Africa and Egypt, which is one reason why Egypt eventually attacked and conquered Nubia. Egyptians and Nunians both believed in the god-Amun (the ram-head god). The Egyptians thought the silhouette of the mountain at Gebel Barkel looked like a cobra’s head which is a sign of royal power. They believed that the god-Amun lived there so they built a temple to him. Thus, it’s considered to be a sacred mountain, perhaps the holiest place in the Nile valley. It is where the pharaohs held their crowning ceremonies. The Nubians also believed the god-Amun lived in the mountain. When they conquered Egypt they called on the authority of the god-Amun. This was confirmed when archaeologists found a curving of a man making an offering to the god-Amun in the remains of a  large temple in Nubia. Both the Egyptians and the Nubians had a system of writing to record important events in their history. The Egyptians used picture writings called hieroglyphs that they curved on the temple walls and on tablets describing events in their lives. The Nubians used an alphabet called meroitic. Historians are hoping to understand this alphabet so that they will be able to read the Nubian’s writings and discover more about their culture. It is clear that the early African people were a politically organized, intelligent industrious, creative and civilized people worthy of our respect. Probably, due to racial prejudice, it was once thought that black Africans were not capable of producing high civilization. Nubia, the homeland of the earliest black culture may have been the home of the first human race on earth. Bibliography Edward Reynolds (1994) Focus on Africa: D.C. Health and company. CanadaWho are the Nubians? (Date N/A). Homestead. October 23, 2006. http://www.homestead.com/wysinger/nubians.htmlJamila, White. (1999). Black Kingdoms of the Nile episode 2. PBS. October 23, 2006http://www.pbs.org/wonders/Episodes/Epi1/1_wondr4.htmJimmy Dunn (Copyright 1999-2003). The Yam of Egypt’s Old Kingdom. Tour Egypt. October 23, 2006. http://www.touregypt.net/featurestories/yam.htm

Polycystic Ovary Syndrome

Introduction: Polycystic ovary syndrome (PCOS) is a common endocrinology disorder affecting 15–20% of women in reproductive age worldwide (1).   PCOS characterized by hyperandrogenism and high level of insulin resistance which leads to the dysfunction of the hypothalamic-pituitary-ovary axis, resulting in anovulation and menstrual irregularity (2-6). PCOS is considered the most common cause of anovulatory infertility. Around 90%–95% of an-ovulatory women visiting infertility clinics have PCOS (7). The current first-line infertility treatment in women with polycystic ovary syndrome is Clomiphene Citrate. However, it has drawbacks, including its overall poor efficacy (only a 22% rate of live birth with up to six cycles of clomiphene (8)), ovulation rate of only 46% (9) and an undesirable side-effect profile, including mood changes and hot flushes. Failure either to ovulate (clomiphene resistance), or to conceive with ovulation (clomiphene failure) often leads to the use of more expensive treatment options for infertility that associated with higher multiple pregnancy rates and an increased risk of the ovarian hyperstimulation syndrome (10). Insulin-sensitizing agents, such as metformin, have been used successfully to treat women with PCOS (11). However, metformin also has multiple undesirable gastrointestinal side effects such as nausea (61%), vomiting (30%), and diarrhea (65%). (12,13) Furthermore, many women who have PCOS are not satisfied with pharmaceutical treatment. In a survey done on women with PCOS, 99% expressed their desire for effective treatment alternatives to fertility drugs, (14) and as many as 70% of women with PCOS use complementary medicines (15-16). Herbal Medicine is still widely used from world population for approximately 75-80%; this is because that herbal medicine is considered more culturally acceptable, less dangerous and more natural form of treatment (17). In Saudi Arabia, approximately 80% of the population use herbal medicine, and one of the main reasons is the ease of use of herbs that could be taken orally without painful procedure or invasive methods (18). Cinnamon, a commonly used spice, has become a natural product of interest because it has been considered to have health benefits, such as reducing blood glucose, total cholesterol, LDL cholesterol and decreasing insulin resistance (19). Cinnamon increases insulin sensitivity likely because of its effect on intermediate metabolites acting at the cellular level (20). Several studies stated that polyphenol polymers isolated from cinnamon could increase insulin-dependent glucose metabolism. (21-23) Cinnamon usually causes no serious side effects. The reported adverse events of cinnamon include headache, heartburn and menstrual cramps (24). In general, herbal medicines are better tolerated than pharmaceutical medications as shown in a systematic review for critical evaluation of clinical efficacy and adverse events of herbal remedies (25). Cinnamon extract may offer a low cost, readily available and relatively easily implemented means of reducing insulin resistance and thereby improving ovulation in women with PCOS.2. Literature Review: A randomized, double-blinded, controlled trial investigating the effect of cinnamon on menstrual cyclicity in women with PCOS, women receiving daily 1.5 g of cinnamon treatment showed significant improvements in menstrual cyclicity, whereas patients receiving placebo did not. Sampling from different patients in the study showed the luteal phase serum progesterone (progesterone level >3 ng/mL), sonographic visualization of corpora lutea, and pregnancy which all support that the bleeding has resulted from ovulatory cycles, rather than merely changes in menstrual flow (24). That suggests that cinnamon supplement may have an effect on ovulation induction in women with PCOS. Regarding the effect of cinnamon on insulin resistance, a study conducted in 2017 involving 66 women with PCOS in a randomized, double?blind placebo?controlled clinical trial. The women in the first group treated by cinnamon capsules 1.5 g/day for three months and the second group by placebo capsules. The homeostatic model assessment for insulin resistance (p = .014) reduced after the three months in the cinnamon group compared with the placebo (26). Another randomized control study concluded that oral administration of 1g of cinnamon extract daily for eight weeks was well tolerated and improved insulin sensitivity in nondiabetic women with PCOS (27). A double-blind randomized control study, comparing the effect of cinnamon and metformin on insulin resistance in 112 women with PCOS taking 1g of cinnamon versus 1g of metformin daily, shows that both significantly decreasing the insulin resistance (28). A study in non-PCOS patients with elevated serum glucose, 173 patients were enrolled and given 500mg of cinnamon daily for two months, showed a significant reduction on fasting insulin, glucose, total cholesterol, and LDL cholesterol and enhanced insulin sensitivity (29). There are many studies conducted on metformin as insulin-sensitizing agent on ovulation in PCOS women. In a systematic review, forty-four trials (3992 women) were included for analysis, 38 of them using metformin and involving 3495 women, clinical pregnancy rates were improved for metformin versus placebo (pooled OR 2.31, 95% CI 1.52 to 3.51, 8 trials, 707 women) and for metformin and clomiphene versus clomiphene alone (pooled OR 1.51, 95% CI 1.17 to 1.96, 11 trials, 1208 women) (30). Since the cinnamon have been suggested to improve the insulin resistance in previous studies and taking into account the side effects of metformin, a cinnamon supplement may offer a good and natural alternative to metformin as an insulin-sensitizing agent and thereby improve the ovulation in women with PCOS.3. Rational:The rarely and non-serious reported side effects of cinnamon along with the cost-effectiveness and availability lead to the need of exploring the effectiveness of cinnamon supplement as a complementary medicine for ovulation induction in women with PCOS.4.1 Aim:To determine the effectiveness of cinnamon supplement and clomiphene citrate (CC) combination on ovulation in women with PCOS.4.2 Objectives:Primary Objective:To compare the effectiveness of cinnamon supplement in combination with clomiphene citrate versus clomiphene citrate alone on ovulation in women with PCOS, in King Abdulaziz University Hospital in Jeddah 2018.Secondary Objectives:To measure the difference in insulin resistance after three months of cinnamon supplementation in women with PCOS in King Abdulaziz University Hospital in Jeddah 2018.To determine the effect of cinnamon and CC combination on menstrual cyclicity, approximated by menstrual frequency, during the study period, in women with PCOS in King Abdulaziz University Hospital in Jeddah 2018.To measure the pregnancy rate in women with PCOS in King Abdulaziz University Hospital in Jeddah 2018.To evaluate the quality of life in women with PCOS in King Abdulaziz University Hospital in Jeddah 2018.Materials and Methods Place of study:The study will be carried out in King Abdulaziz University Hospital, Obstetrics and gynecology clinics, in Jeddah 2018. Exclusion criteria:Current pregnancy or lactation.Current use of treatment of infertility.Established diagnosis of diabetes mellitus.Use of Insulin-sensitizing treatment within the past three monthsHormonal treatment involving estrogen or progesterone within the past three months.Known hypersensitivity to cinnamon.Use of statin medication.Any other supplements that contain cinnamon within the past month.BMI 35.Sample Size:To detect a clinically significant difference of 30% between the previously reported systematic review of ovulation rate (~46%) (9) with a one-sided 5% significance level and power of 80%, a sample size of 82 participants (41 per arm) is required. (Fleiss, Statistical Methods for Rates and Proportions, formulas 3.18 &3.19). Randomization:The participants will be randomized in 1:1 fashion using a computer program by trained assistance. Allocation concealment will be ensured using similar bottles labeled by letters A and B to receive either the combination of cinnamon supplement and clomiphene citrate or clomiphene citrate with placebo. The intervention allocation will be blind for both investigators and participants.5.6 Intervention:The Cinnamomum cassia  (C. aromaticum) capsules will be purchase from Spring Valley company (distributed by Wal-Mart Stores, Inc. USA) by the investigator. Placebo capsules will be prepared by Batterjee Pharma Company and will contain 450 mg of starch and 50 mg of cinnamon powder (to improve blindness regarding taste and odor). Shape, size, and color of placebo capsules will be completely similar to the cinnamon capsules.Cinnamon and placebo capsules will be provided to both groups monthly for 12 weeks. Participants will be required to consume two capsules twice per day after meals (2g/day). The last packages of capsules will be checked at the end of the month, and the number of remaining capsules will be counted; after that, new packages will be delivered to patients. All capsules will be given simultaneously with the clomiphene citrate medication. Participants will be asked to keep their normal lifestyle including daily food and physical activity level.The 2g dose of cinnamon is chosen based on published clinical trials in patients with PCOS (8,15,16,17). All participants in both groups will be followed for three months or until pregnancy confirmed. The three month-period has chosen based on a systematic review that showed the effect of cinnamon could be as early as 4 weeks and up to 18 weeks (31).5.7 Adherence:Compliance with diet and medications and interval progress will be monitored with monthly visits with the investigator or his trained assistances along with SMS reminder or WhatsApp messages. Also, participants will be asked to return all study packs (including empty bottles) at every monthly visit.5.8 Patient safety:Patients will be monitored monthly during the study period, and any occurrence of adverse events will be recorded.5.9 Study Outcomes:Primary outcome: Progesterone level > 3ng/mL (ovulation confirmation) or pregnancy confirmed.Secondary outcomes: Changes in insulin resistance, menstrual cyclicity, pregnancy rate and fertility quality of life at the end of the study in comparison with the baseline values. Procedure:The study will be initiated after obtaining approval from the Unit of Biomedical Ethics in King Abdulaziz University and approval from Saudi Food and Drug Authority. All patients will be explained the procedure and risks involved in common, understandable languages and a written informed consent will be obtained. First visit: Patients meeting inclusion and exclusion criteria will be evaluated during the early follicular phase (day 3-7) after a spontaneous or induced menses (medroxyprogesterone acetate 10 mg twice?daily for 5 days) for: Baseline blood work:o (Hormone profile: FSH, LH and testosterone levels).o In day 21 (luteal phase) patients will be tested for progesterone level.o Insulin resistance using homeostasis model of insulin resistance [HOMA-IR] and Quantitative Insulin Sensitivity Check Index [QUICK-I].? QUICK= 1 / (log(fasting insulin  µU/mL) + log(fasting glucose mg/dl))? HOMA-IR= (FPI(mU/l) Ãâ€" FPG (mmol/l))/22.5 Height and weight will be measured and recorded for body mass index (BMI). Diagnosis of oligo-/anovulation will be based on a menstrual pattern of oligo/amenorrhoea (cycle >35 days) and/or a low mid-luteal serum progesterone concentration. Hyperandrogenaemia will be diagnosed either clinically (acne/hirsutism) or biochemically (testosterone ?2.5 nmol/l).Last Visit: At the end of three months, all subjects will be re-evaluated during the early follicular phase (day 3-7) after a spontaneous or induced menses for: Baseline blood work:(Hormone profile: FSH, LH, testosterone levels).o In day 21 patients will be tested for progesterone level.Insulin resistance using homeostasis model of insulin resistance [HOMA-IR] and Quantitative Insulin Sensitivity Check Index [QUICK-I].Height and weight for body mass index (BMI).Menstrual cyclicity, approximated by menstrual frequency, (number menses/number months observed).Pregnancy rate using positive urinary hCG and ultrasound detection of the gestational sac.Assessment of dietary intake: To assess participants' dietary intake, a 24-h food recall will be collected three times during the study (at baseline, middle and end of study). Patients will complete food descriptions including food and drinks (brand names), food preparation (ingredients) in detail as much as possible in the last day. Pictures of food commonly consumed in Saudi Arabia, together with a set of common household measurement tools (glass, cup, soup bowls, plates, teaspoon and tablespoon) will be provided to assist subjects in estimating the portion sizes of the food. Assessment of physical activity levels: IPAQ will be applied to assess the physical activity level of participants. The IPAQ form comprises walking, moderate- intensity and vigorous-intensity activity and will be expressed as metabolic equivalents per minute (MET-min) per week. The levels of physical activity will be categorized into low, moderate and high, based on the IPAQ criteria. Statistical Analysis:Statistical analysis will be performed using SPSS 25. Data will be expressed as mean  ± SD for continuous variables and percentage for non-continuous variables. Normality tests will be assessed through Shapiro-Wilk tests carried out on each parameter before analysis. Intention-to-treat (ITT) analysis will include all randomized subjects, regardless of whether or not they received the study treatments. Per protocol (PP) analysis will include all randomized subjects who received the study drug and were not lost to follow-up. Participants who lost to follow-up will be assumed neither to be pregnant nor to have ovulation in the ITT analysis.Relative risk, relative risk reduction, Number Needed to Treat and Number Needed to Harm will be calculated at 95% confidence interval. Study variables:VariableOperational definitioni.e., indicatorScale of measurementOvulationProgesterone level in capillary bloodContinuous:Progesterone level ;3ng/mLInsulin resistanceHOMA-IR and QUICK-IOrdinal:HOMA-IR Healthy Range: 1.0 (0.5–1.4)?Less than 1.0 means insulin-sensitive which is optimal.?Above 1.9 indicates early insulin resistance.?Above 2.9 indicates significant insulin resistance.QUICK-I range between 0.45 in healthy individuals and 0.30 in diabetics.Lower values reflect greater resistance with values below 0.339 indicating insulin resistance. Menstrual cyclicityMenstrual frequencyContinuous:(No. of menses/ No. of month)Pregnancy rateNo. of pregnancies including live births, induced abortions, and fetal deaths per 1,000Continuous:(Number of pregnancies including live births, induced abortions, and fetal deaths / Number of women aged 15 – 44 years) Ãâ€" 1,000Quality of lifeInfertility quality of life questionnaire Ordinal Ethical considerations:Approval from the Unit of Biomedical Ethics in King Abdulaziz University will be obtained before the start of the study.Informed consent of the participants will be considered an essential prerequisite for enrollment in the study.This study will be registered in Saudi Food and Drug Administration (SFDA) and at Clinicaltrial.gov website.Confidentiality of the response of the participants will be ensured by keeping the collected data secured and used only for the study purpose.Study duration:The recruitment period will be three months; each arm group will be followed for three months, the total study duration with data analysis and writing the thesis will be ten months.Table1: study time frame

Why is Jaws still Spielbergs most effective thriller Essays

Why is Jaws still Spielbergs most effective thriller Essays Why is Jaws still Spielbergs most effective thriller Paper Why is Jaws still Spielbergs most effective thriller Paper Essay Topic: Film Jaws Jaws is a thriller with an exciting plot. A thriller is a genre that creates tension and suspense. A typical thriller can feature a terrifying predator and in Jaws it is the shark that is the predator. Films like King Kong and The Fly which were early predecessors had major influences on more modern films like Jaws. It was followed by The Return of the Fly. Jaws was made in Long Island America in 1975. It was made by Steven Spielberg. It is set on a beach resort and it is about a great white shark that was disrupting holidays. It firstly took the life of a young girl at night. Next, it took the life of a child when the sea green waters turn red. Police Chief Brody, the local Inspector decides to take up the case with the help of a marine biologist and a fisherman they put an end to the bloodshed. At the beginning of the first scene in Jaws it is a dark night which is typical icon of thriller genres which thrills and creates mystery, fear and tension in the viewer. We become engaged in the play by focusing on the two silhouettes across the beach. They create the initial plot and it keeps us hooked to the movie right from the beginning. There are a group of young teenagers socializing around a fire, all happy and enjoying themselves. The diegetic sounds of people chatting and music gives us a feel of romance genre. The camera focuses a close-up shot of two of the main characters in the scene amongst the crowd and they both stare at each other as if they are madly in love. Suddenly, the sense of danger comes into the scene when the young girl, who is the main character jumps to her feet and runs down the beach pulling her clothes off to attract attention to the teenage boy. In a long-shot the camera follows their two silhouettes. We can sense the vulnerability at that point as they are strangers, naked, alone and slightly drunk. After that a long shot shows the girl jumping into the water. Here the thriller genre begins. The teenage girl is swimming smoothly for only a little while. Suddenly, she is pulled down into the water and is trying to shout for help. The audience is confused and hooked when this happens. The close-up of the girl shows that she is being pulled from side to side continuously and eventually she dies and the scene ends. The viewer is confused and they feel sorry for the girl as they couldnt identify the attacker of the death. Mystery, which is the typical feature of thriller genre, is used at the end of this scene as we are left clueless. Also using Todorovs theory of disequilibrium is applied here, when the audience is left in confusion on a climax. The second attack scene starts with an evocative atmosphere with a calm relaxed beach scene in the morning with families enjoying themselves on Americas Independence day on Long Island. They are all happy and cheerful. This gives a sense of false security and the shark attack will have devastating impact on the people enjoying themselves. The viewer gets hints that another attack is about to happen when the camera focuses on Chief Brodys face. When we see his facial expressions, we see that he seems stressed and tense. There are mid-close-ups of the chief looking over shoulders. This creates tension by transferring the stress to the audience; the viewer knows more than the character about what is going to happen which is dramatic irony as we know about the previous attack which is shown in the Chiefs facial expressions. Non-digetic sound is used to add to the atmosphere when the Chief cant concentrate on the beach as the radio is on and people are talking and screaming. We are left in suspense wondering if there is going to be another attack. The central characters that are used as a focus indicate the dog and boy, the old man, the Chief, the little boy building a castle, the woman floating in the water and a big group of children. The viewers are nervous about what is going to happen which keeps us hooked to the movie. These characters are used to give two false alarms. The man in the black swim hat looks like a shark and the boy who lifts the girl underwater creates the impression of an attack. We are kept tense waiting for the attack and alarmed by the false warnings. Other signs and symbols used to denote danger when the man calls out for his dog and he has suddenly gone missing. The signified meaning of this is that the dog has been killed by the shark and the presence of the shark creates suspense. We first see the shark when it is introduced by underwater camera shots which make the audience tense and aware that the shark is going to attack. We feel helpless because we cant let the characters know there is a shark in the ocean. It is confirmed for the audience that an attack is going to happen because the sound is a signature sound which complements the underwater camera. The boy lies down on his float he goes deeper into the ocean and he is turned upside down by the shark and then we see a rush of red blood in the ocean which tells the viewers he is eaten. Next, we see a huge rush of families run from the beach onto the shore. The camera is then used to see Chief Brody from another perspective using a panoramic view to show the alarm and fear on his face after the attack. The dramatic irony in this scene is that we see everything from the Chiefs perspective. In the final scene we continue to concentrate on the hero as we have been following him throughout the film; the Chief. There are many camera shots ranging from a long-shot zoom which captures Chief Brodys reactions and emotions. This empathises and engages the audience. We want him to survive and true to conventions the hero does survive. The camera zooms upwards on his eyes at the key moment to register emotion when they are lowering the marine biologist into the cage. His fear transfers to the audience which makes us tense. The viewers see that there is chemistry in Brodys and the marine biologists friendship. The audience feels the sense of happiness between the two. There are symbols to suggest the possible outcomes and events; whether the cage will protect or confine the trap. This creates anxiety for the viewers. We wonder if he will survive his encounter with the shark. There is a hint of danger when the camera zooms on significant symbols; when the fisherman tries to drug the shark and the poison falls through the bars. This increases tension and there could possibly be different endings. There is non-digetic music, the jaws signature tune which plays when the shark appears near the cage and stops when the shark is more visual towards the end of the scene. This lets the viewer of the sharks presence and the music is peaceful and calm as soon as the shark is destroyed at the end and drifts towards the sea bed. This creates an effect of happiness and satisfaction as the audience is fearless. Overall, I think Jaws is a successful thriller because of the suspense that is created in the movie. For example, the signature tune keeps us in apprehension waiting to see what happens next. Also, the movie is realistic because sharks could actually kill you in real life which gives us creates a realistic effect. If you compare Jaws to Jurassic Park for example; this thriller wont keep us in as much suspense like it would in Jaws because dinosaurs are not actually living creatures and so the plot lacks terrifying realism. The plot in Jurassic Park is fantastical and also, the characters in the movie always escape death. The first frightening technique in the movie is in the opening scene when the girl is focused on and there is a close up of her being pulled under. This puts tension on the audience as we dont know what is attacking the girl. Then in the last scene where there is increase in tension for the audience and we think that there could possibly many kinds of different endings to the story.

The Rigorous Business Of Budgeting For International Operations Coursework

The Rigorous Business Of Budgeting For International Operations Coursework The Rigorous Business Of Budgeting For International Operations – Coursework Example The Rigorous Business of Budgeting for International Operations SUMMARY Foreign matters have an intense effect of the budgeting activities of international firms. International organizations argue with a variety of external aspects, internal reflections, and other dynamics that affect budget policies, structure, and control. External aspects influencing budgeting operations of multinational firms include exchange rates of foreign currencies, rates of interest, and inflation (Milani and Rivera 38). Exchange rates of foreign currencies are the most influential ones as they influence an international firm through translation, dealing, and financial experiences. The Fisher Effect, International Fisher Effect, and rate of interest uniformity connections contribute to the rate of interest’s effect on global companies. Lastly, inflation affects multinationals by centering on differences between nations and securing purchasing power uniformity and applying the Fisher Effect (Milani an d Rivera 42).The main point of the article is that dealing with multinational risk is the core of budgeting for foreign subsidiaries. However, moving pricing and stock policy also affects global budgeting intensely (Milani and Rivera 38).The first point of interest is that global budgeting remains an uncertain practice even with concrete findings and strong geopolitical regulations. Second, multinational organizations should be continually alert and conscious of this uncertainty because it is more prevalent and undesirable than widely presumed. Lastly, multinational firms take on the demanding business of budgeting for translational activities because it is expected of their budgetary operations (Milani and Rivera 49).This article is important to a finance and accounting class because identifies with accounting standards necessary for learners in this class. The article presents a thorough and confined case of multinational dealings with budgeting across developed and developing eco nomies across he world.Points I would like to discuss in class are:Cost budgets and their roles in transnational budgetingCapital and liquid budgetingTransfer valuationThe overall image of budget control or regulationMilani, Ken and Juan Rivera. The Rigorous Business of Budgeting for International Operations. Management Accounting Quarterly, 5.2(2004): 38-50.

Names Epicene and Otherwise

Names Epicene and Otherwise Names Epicene and Otherwise Names Epicene and Otherwise By Maeve Maddox Until very recently, the only context I knew for the word epicene was a T. S. Eliot poem: Along the garden-wall the bees†¨ With hairy bellies pass between†¨ The staminate and pistilate,†¨ Blest office of the epicene. T.S. Eliot’s Mr. Eliot’s Sunday Morning Service I thought the word was just one of Eliots intriguing but impractically arcane terms until I came across it in a mainstream context: a Wikipedia article about naming practices: A unisex name, also known as an epicene name, is a given name that is often given to either a boy or a girl. Cody, Cory, Jodan, and Morgan are epicene names. Epicene entered English around 1450 as a grammatical term for nouns that can denote either masculine or feminine gender. An example in English would be horse, as contrasted with gender-specific stallion or mare. The meaning expanded to mean characteristic of both sexes (1601). It is sometimes used with the meaning of effeminate. It would seem that naming ones child would be a choice left to parents, but some countries have or had until recently, laws to limit names to an approved list. France had such a law until 1992 and that countrys current naming laws make it difficult for people to change a given name once they have it. Since banning Muslim girls from wearing headscarves at school, French authorities find themselves having to deal with a surge in requests from young people with North African roots to change European names like Nadine and Jacques to names like Zoubida and Abdel. French authorities see these requests as a rejection of French culture. Germany requires parents to give children a gender-specific name. If the child has two given names, one may be gender-neutral, but the other must be gender-specific. A girl may not be given a boys name, and vice versa. The only exception is the name Maria which may be used with boys, ex. Rainer Maria Rilke. The name must not be a product name, the name of an object, or any other name perceived as absurd or degrading. In September 2007 Venezuelan lawmakers were considering a law to limit parents to an approved list of 100 or so government-chosen names. Exceptions would be made for Venezuelan Indians and foreigners. Of particular concern was the banning of names that generate doubt about the bearers gender. New Zealand has a law that bans names that may cause offence or lead to bullying, but it doesnt seem to be too stringently enforced. One child got to be eleven years old before a judge stepped in and changed her name. Her parents had named her Talula Does the Hula From Hawaii (ABA Journal). The law did prevent another New Zealand couple from naming their baby 4real. Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the Vocabulary category, check our popular posts, or choose a related post below:Dialogue Dos and Don'ts41 Words That Are Better Than GoodHow to Punctuate Introductory Phrases

Stepfamilies Essay Example | Topics and Well Written Essays - 3250 words

Stepfamilies - Essay Example Wilkes and Fromme (2002) investigated the stability over time of themes in the experiences of biological parents, stepparents, and adolescents in stepfamilies. Twelve adolescents, ten stepparents, and nine biological parents from ten stepfamilies that participated, completed follow-up questionnaires that sought to determine if the themes found in the earlier study were still present in their stepfamilies four years later. The results indicated areas that remained stable over time and areas of positive change and adjustment. The results also suggested the need for further research about the specific factors that shape adjustment to stepfamilies. The initial study consisted of 37 participants from 12 families. Of those 37 participants involved in the initial study, 31 completed follow-up questionnaires. Of the 12 families involved in the follow-up study, the adolescents consisted of six females and six males. All of the adolescents were Caucasian. The average age was 16.6 years. All of the children were the biological child of one of the parents living in the home. Four were from stepfather families, two were from stepmother families and six were from blended families. Of the stepparents involved in the present study, there was one Hispanic stepfather and the rest were Caucasian, three of the stepparents had never been married before, and six of the stepparents were male and four were female, with an average age of 41.2 years. Among the biological parents, four were female and five were male. All of the biological parents were Caucasian, with an average age of 43.6 years. Prior to the current marriages, eight of the biological parents had been married in the past. Assessment procedures included three questionnaires: one for the adolescents, one for the stepparents, and one for the biological parents, plus second versions with modifications made to render the wording appropriate for members of the stepfamilies that had been separated. The statements related to the core themes identified in the initial study. The questionnaires in Wilkes and Fromme's (2002) follow-up study asked each participant to rate their level of agreement with 32 to 34 statements on a five-point Likert scale. Based on the ratings participants gave to statements, averages were calculated to determine the level of agreement or disagreement with each statement. One of the major overarching themes found in the initial and follow-up studies was that adolescents were continuing to find ways to cope with the losses in the stepfamily formation process. These losses included undergoing changes in relationships, adapting to different family traditions, experiencing less power in the stepfamily, and having a sense that their family had changed very quickly. 'Therapists' perceptions of bioparent-child relationships in stepfamilies: What hurts What helps'- Cartwright, C. (2003). Stepfamily relationship research has focused on step relationships with particular emphasis on stepparent-stepchild relationships, despite increasing evidence that residential bioparent-child relationships can be negatively impacted through remarriage and stepfamily living. In a project by Cartwright (2003), nine stepfamily therapists were

Analysis of an International Organization Research Paper

Analysis of an International Organization - Research Paper Example For airlines, it is necessary to have a strong team of professional enthusiastic individuals to make the business a success. Like every business in the service sector, airlines too require their workforce to be internally satisfied so that this behavior of theirs is reflected in their behavior with the customers. If one looks up ‘HR challenges faced by United Airlines’ online, every search engine gives an array of links that discuss the failing, almost embarrassing, situation of the airlines. Since its merger, it has faced a number of problems that range from operational inefficiency to lack of HR training. In the world of today, where options at hand are plenty and the organizations need to stand out through effective strategies and customer orientation, this is not a good business scenario. For every service business, the customer touch point is an essential deal maker or breaker. The moment a customer interacts with an employee representing the service organization, he gets a taste of the organizational culture and sets a service expectation standard. Customer satisfaction is the ultimate goal of such organizations. The major HR problems faced by United Airlines are as follows: -Lack of a strong organizational culture after the merger: After United Airlines made the acquisition of Continental Airlines, there was a lack of effort on the management’s side to unify the workforce so that there is a uniform sense of dedication towards the ‘United’ brand (Busmanagement.com). Even though efforts were made to gather the best talents from both the sides of the merger, the company still faces issues with bringing all its employees to term with their merger. -Lack of employee training programs: the employees are not trained to be customer oriented which reflects in their service levels. Their focus is on getting their work done and not making sure that the customers are made to feel genuinely valued and cared for. This is

'The Lisbon Treaty has replaced the old European Union with the new Essay

'The Lisbon Treaty has replaced the old European Union with the new European Union.' (Sch_tze, 2012). Criticall - Essay Example Thus it critically evaluates the statement based on an overview of how it came into being, followed by a review of its four structures to demonstrate to the extent and ways it represents a new way forward. It also reviews how the treaty seeks to increase the effectiveness of the new EU compared to the old EU through more qualified majority voting, institutional changes and co-decision procedure. In addition, it offers an analysis of how the democratic values and the roles of the national parliaments are strengthened compared to the old European Union1. Further analysis includes improvement of citizen’s rights and political changes that signify a change from the old system. Section A: The Lisbon Treaty has replaced the â€Å"old† European Union with the â€Å"new† European Union’ Background of the Treaty of Lisbon The Lisbon Treaty seeks to rectify the structure and the function of the old European Union, which justifies the statement that it has replaced t he â€Å"old† European Union with the â€Å"new† European Union2. Also known as the Lisbon Treaty (LT), it comprises an international agreement that seeks to amend or revise the Maastricht Treaty and the Treaty of Rome, the two treaties that make up the European Union’s (EU’s) constitution3. ... Upon the expansion of EU to comprise 27 member states, it was necessary that amendments be made on the way Europe’s institutions function and how they make decisions. It was further agreed that the treaty shift focus on modernizing European Union, which also justifies the statement that it replaced the old order5. The Lisbon Treaty’s objectives are categorized into four primary areas6, namely to create more transparent and democratic Europe, to promote citizen rights, to build a more efficient Europe and to reposition Europe as a key figure on the global scene7. Shift in decision-making process The Lisbon Treaty transformed the decision-making process of the EU8, thus implying a change from the old system enabling it to work more effectively. First, it seeks to render the EU a stronger yet more coherent say with the creation of a new position of the President of the European Council who chairs the activities of the heads of governments of the member states9. This way, h e works towards facilitating consensus as well ensuring the continuity of the policy. The LT has therefore increased the significance of the Presidency as a decisive organ in the policy-making process10. The president can today mediate between the actors during negotiations while at the same juncture pushing the process towards a favorable direction. He also guides the strategy direction of policy-making. In addition, the LT has created changes to the European Union’s internal decision-making apparatus. The changes are intended to rationalize the process and make it less vulnerable gridlocks by a single member-state. The treaty further attempts to address issues on the democratic transparency and

Assignment Example | Topics and Well Written Essays - 250 words - 219

Assignment Example Consider Africa, for example. The continent is the second most populous on earth, and has the largest arable land on earth. The paradox? Africa has the worst cases of famine and starvation globally, and the lowest levels of food security on earth. From a critical perspective, it is worth noting that the above-mentioned scenario should not exist. However, it is also important to consider that a lack of initiative is the biggest obstacle to sustainable food production. In developed countries agriculture always ranks top among the priority areas of development. This is not the case in places with food insecurity, and even if it were the case there is no commitment beyond simple formulation of policies (Christou 32). Budgetary allocations are either below required levels, or misappropriation of funds and poor prioritization abound. While all these constraints remain in place, population growth is not being controlled. Developed countries had to implement population control measures at some point in order to balance food production and population growth, thereby providing a window for food production to be boosted while population growth was managed/stabilized. People like to go on about climate change and soil erosion, but it is important to know that there is nothing that cannot be managed for the sake of mankind’s advancement (Gilland 19). With will, resources, and commitment it will be possible for food production to be boosted beyond the effects of population growth, and all other challenges surmounted. In conclusion, I must say that countries with food insecurity just haven’t done enough to mitigate the situation. The possibilities are endless, but the commitment is

Strategy and Human Resource Management Essay Example | Topics and Well Written Essays - 3000 words

Strategy and Human Resource Management - Essay Example by the U.K’s larges retailer, Marks and Spencer, with an analysis of factors impacting these approaches and the way this organisation benefited from them. Through this illustration, various HRM practices such as best-practice and best-fit models, and management models such as high-commitment, high-involvement and high-performance work management models along with resource-based model have been comprehensively analyzed. According to Jackson and Schuler (1999; p.4), Human Resource Management (HRM) is a broad spectrum of organisational elements such as ‘specific human resource practices including recruitment, selection, and appraisals; formal human resource policies meant to control and/or promote development of specific practices in order to drive the desired organisational culture; and, overarching human resource philosophies, which specify the values that attracts, develops, motivates, and retains employees who ensure the effective functioning and survival of the organisation and its members.’ These three components of HRM are in turn impacted by internal contextual factors such as structure, size, organisational life cycle stage, and business strategy; and external factors such as legal, social, and political environments, unionization, labour market conditions, industry characteristics and national cultures (Jackson & Schuler, 1999). Strategic HRM refers to the integrative framework of HRM with strategy, encompassing several aspects of the organisation’s external and internal environments at national and international levels including multiple stakeholder perspectives. In addition, it demonstrates a myriad of outcomes associated with strategic HRM reflecting the purposes of various stakeholders. Hendry and Pettigrew (1986) explain that this strategic integration of HRM with strategy is accomplished through use of planning; use of rational approach to the design and management of personnel systems based on an employment policy and manpower strategy

IMG Article Example | Topics and Well Written Essays - 500 words - 1

IMG - Article Example Signing deals with various celebrity athletes like Tiger woods among others and significant expansion in terms of the firm’s structure and function explains its economy of scale. It is worth to note that IMG is currently facing challenges of its already large scale of operation in regard to its emerging competitors. The company is evidently out of control as it grapples with management challenges. This can be seen from mass exit of employees, signed athletes and the rising criticism on the issue of conflict of interest. The facts presented in this case study shows that IMG grew exponentially due to its initial competitive advantage but later ran out of managerial techniques as far as sustainable and maintenance of value creation activities are concerned (Hitt,et al. 67-9). The emergence of market dynamics with increasing competing firms that have embraced technology and strategic pricing policy is putting the IMG under significant threat of failure hence the relevance of the company â€Å"out of control†. In the contemporary turbulent market, it is advisable that McCormack or his successors need to boost the size and diversity of IMG’s portfolio of businesses. This is in line with the changing market conditions in which diversification would help it cushion losses from one aspect of their portfolio. For it to manage competitive strength in the market, it only needs to reorganize its management techniques that should be coupled with a shift towards global standard in order to survive among the several new entrants in the industry. One approach of strategic management that would revive IMG is to blend outsourcing of skilled personnel with its own employees. This would provide hybrid technique that would serve to help it deliver quality services to its diverse clients. This implies that IMG would do a better job for its clients if it contracted with

Strategy and Human Resource Management Essay Example | Topics and Well Written Essays - 3000 words

Strategy and Human Resource Management - Essay Example by the U.K’s larges retailer, Marks and Spencer, with an analysis of factors impacting these approaches and the way this organisation benefited from them. Through this illustration, various HRM practices such as best-practice and best-fit models, and management models such as high-commitment, high-involvement and high-performance work management models along with resource-based model have been comprehensively analyzed. According to Jackson and Schuler (1999; p.4), Human Resource Management (HRM) is a broad spectrum of organisational elements such as ‘specific human resource practices including recruitment, selection, and appraisals; formal human resource policies meant to control and/or promote development of specific practices in order to drive the desired organisational culture; and, overarching human resource philosophies, which specify the values that attracts, develops, motivates, and retains employees who ensure the effective functioning and survival of the organisation and its members.’ These three components of HRM are in turn impacted by internal contextual factors such as structure, size, organisational life cycle stage, and business strategy; and external factors such as legal, social, and political environments, unionization, labour market conditions, industry characteristics and national cultures (Jackson & Schuler, 1999). Strategic HRM refers to the integrative framework of HRM with strategy, encompassing several aspects of the organisation’s external and internal environments at national and international levels including multiple stakeholder perspectives. In addition, it demonstrates a myriad of outcomes associated with strategic HRM reflecting the purposes of various stakeholders. Hendry and Pettigrew (1986) explain that this strategic integration of HRM with strategy is accomplished through use of planning; use of rational approach to the design and management of personnel systems based on an employment policy and manpower strategy

Should the government bailout failing businesses - Argument aginst Research Paper

Should the government bailout failing businesses - Argument aginst - Research Paper Example But more intense debate of the present finance world is whether the decision of saving (bailing-out) these about-to-be bankrupt companies justified! The companies when fell into the trouble were within the periphery of private hands and now, when in trouble, saving them with the common man’s hard-earned money drew reservations from all concerned quarters. The money that was paid to the government to develop utility for the society is being used to discount the wrong doings of these financial giants over the years. Prior to getting deeper into the pros and cons of the bail-out process and its affects on the falling companies and the society at large, the underlying reasons of the financial crisis might be assessed in brief. The few of the major reasons of the financial crisis are ascertained below: Housing Prices – The housing prices in the United States rose to great heights till 2006 and then suddenly collapsed from then onwards. The collapse was more than 25% and continued for more than three years. As C.I. Jones observed, â€Å"The national index for housing prices in the United States declined by 26.6% between the middle of 2006 and the end of 2008† (Jones, 2009). Increase in Global Saving – Even a decade earlier, it was found that the developing economies of the world saved less and invested more. This rendered them to borrow funds from the world market. But as there occurred number of recessions over the period of last fifteen years, the developing economies commenced to save more. This hampered the western economies (especially United States) as it could not channelise their excess funds and earn interests. Ultimately, the excess funds contributed towards the asset market. Subprime Lending – The hype of owning houses that existed in the United States before 2006 made almost all nationals purchase a house which often

Gran Torino Review Film Studies Essay

Gran Torino Review Film Studies Essay Gran Torino, directed by Clint Eastwood, is a very moving and captivating drama. Its a simple story about tolerance and cultural differences, but also one of hope, self-sacrifice, and unlikely friendships. A former auto worker at Ford, Walt Kowalski has just had to put his longtime wife to rest when the story opens. From his scowl, it looks as if he would like to join her. Instead he sits on his front porch chugging can after can of cheap beer in the company of his yellow Labrador, Daisy, while watching the world at a safe distance with a squint and a stream of bitter commentary. The remaining members of his family, including two sons with big houses, big cars, big waistlines, have no choice but to let him stew alone. Gran Torino tackles racism head on. Although the main character Walt Kowalski, played by Clint Eastwood, is prejudiced against almost everyone, the film focuses on an Asian neighborhood, uncovering racism and violence. The neighborhood has gone down hill since it has become immigrant-dominated. The house next door is now owned by a Hmong family, a widespread South-east Asian minority, and Walt does not trouble to distinguish them from the Koreans he fought in the 1950s. Throughout the film, we learn Walt had to kill many Koreans as part as his duty as a soldier during that period of time. The film takes a twist when the bitter old war veterans life takes an unexpected turn after Thao, a shy, teenage boy who lives next door to Walt is bullied by his thuggish cousin and no-good buddies into joining their gang. His initiation test is to bust into Walts garage and steal his treasured 1972 Gran Torino. Sure enough, Thao does as the others ask. While trying to steal the Gran Torino Thao tr iggers Walts halogen security lights and Walt comes out running with an assault rifle. Little do Walt and Thao know, their meeting will change both their lives forever. Thaos family, led by his mouthy, friendly sister, Sue forces the teenager to do pay his dues from trying to steal Walts car by working for Walt, an arrangement that pleases neither the Walt nor the Thao. As the story unfolds and the gang members return and Walt reaches for his gun, the film moves from comedy into drama, and then tragedy into something completely unexpected. The film takes a hard look at a Hmong community and the gang life within as it twists tough situations until its truly exposed, finding a few laughs at the core. Gran Torino portrayals real life drama while injecting it with some necessary comedy, which gives it a bit of a balance and keeps viewers even more entertained. The way the comedy weaves effortlessly in and out of the gritty Clint Eastwood film makes it an even better film for most to enjoy. Clint Eastwood has a great and useful skill of creating terrific drama films with a message, Gran Torino is one of those films. Like many of Eastwoods other films, he plays a role that involves a stereotypical toughness. This film can be seen as a interpretation on many issues encompassing gangs, racism, the disrespect of the youth culture towards their elders, and forgiveness. To me, all of these issues tend to come to mind when reminiscing about the film. I truly believe these are what the film is really about and what it was meant to be about. Throughout the film, it is mind blowing to see many of the characters change for the better throughout the film, especially Walt. This is yet another great film from Clint Eastwood, and its a film that addressees important issues that cant be ignored. Although, some may say that Gran Torino may not be the greatest work by Clint Eastwood, I believe the film did a splendid job in terms of race issues. Gran Torino is a good example of a film th at takes an unbiased look at race issues. This is a well made film, and its not just giving you straight advice like most films dealing with similar subject matter. Melancholy is imprinted in every long shot of Detroits devastated, emptied streets and in the faces of those who remain to still walk in them. Made in the 1960s and 1970s, the Gran Torino was never a great symbol of American automotive might, which makes Walts love for the car more moving and emotional. It was made by an industry that now barely makes cars, in a city that hardly works, in a country that too often has felt recently as if it cant do anything right anymore except, every so often, make a movie like this one. The drama, Gran Torino provides a surprisingly enlightened view at understanding cultural diversity within a rapidly evolving American neighborhood. The movie interjects the need for communication, understanding, and a return to middle class values in a youth oriented culture. Gran Torino expresses an issue that has been one of conflict in our society today; racism. Walt Kowalskis attitude towards minorities seems very prejudice and close-minded. I believe Gran Torino is about two things. It is about the late blossoming of a mans better nature, and it is about Americans of different races growing more open to one another in the new century. I would recommend this movie to anyone who enjoys a drama/action film, and doesnt mind some foul language to go along with it. I think to some people this film can be a eye and mind opening experience. I believe it is important for people to see both sides of such a controversial issue, and that change is probably necessary in one way or another f or understanding, respect, and peace to surface

Cloning :: essays research papers

Why ban cloning? For one, the many deformed, stillborn, diseased and dead animals created on the way to making Dolly. As must as we’re being told that human cloning is just around the corner, in fact, even the scientists who are most successful at cloning have a very poor track record making cloned animals. (5) Although cloning experts claim that their work would help infertile couples, the experience with animal cloning has shown that scientifically, the experiment generates ethical concerns just as it is still replete with a lot of risks for the offspring. There are reasonable grounds that urge caution about this new advance in genetic engineering without being techno-phobic. (3) Already human cloning violates existing laws in some countries while in some other countries such as United Kingdom where human cloning is not yet banned legally, the government is contemplating legislating against it for reproductive purposes. Cloning for therapeutic reasons is allowed in UK on a limited scale. The outrage against human cloning is some places are such that in Italy the medical authorities are considering withdrawing Dr. Anthinori’s license if he insists on the practice. (3) In an Illinois Republican’s judgment, â€Å"It is critical that both state and federal lawmakers look carefully at upcoming legislation to ban cloning to ensure that scientific advances which may sure fatal diseases are protected. (2) Congressmen observes, that no one really knows what discoveries might yet be made in treating debilitating diseases as the human cloning issue is aired and determined by congress. (2) Florida introduced the banning of cloning, but then quickly withdrew because it would have banned cloning of humans and the cloning of DNA. Many do not want cloning to be totally banned because it is important to innovative scientific research, which may spin off from the cloning technique. (2) Cloning for ultimate medical purposes should be contained to animals and agriculture, and not be extended to humans. Congress takes attention to carefully and cautiously takes part in crafting cloning legislation that precludes cloning humans. (2) President Clinton and a number of congressional members already have nixed human cloning. â€Å"No longer can it be done, but should it be done? Are there potential outcomes for medicines that are worth exploring?

Importance of Worldviews Essay -- Cosgrove, Reality

Cosgrove describes a worldview as â€Å"a set of assumptions or beliefs about reality that affect how we think and how we live† (p. 19). A person’s worldview has been molded from the day they were born by family, friends, media, and even strangers. Worldviews are important because they allow us to â€Å"develop a deep comprehensive faith that will stand against the unrelenting tide of our culture’s non-biblical ideas† (Tackett). Our actions also tend to mimic our beliefs—for example, if you believe that there is life after death like Christians do, your priorities should reflect your dedication to follow Christ and not be of this world (John 15:19 NLT). As I have learned more and more about worldviews in this class, particularly a Christian worldview, I have the opportunity to look back on what my worldview was and how it has changed. Because I have grown up in a church, and been a Christian for as long as I can remember, I have always thought of myself having a Christian worldview. However, after this course, I have realized that I did not know some of the basic Christian foundations—I did know that God is the creator of all things and that he is and everything he did is love. In the church I learned God is loving, all-powerful, all-knowing, eternal, unchanging, holy, and all good things, which are similar to the characteristics Dr. Strobel talked about in class. My picture of God has not changed much, if anything I have become more in awe, especially in regards to the trinity. My idea of what a person is, something that was made in God’s own image but sinned, and what happens to humans when they die, the body will stay but the soul will spend eternity in heaven or hell, has also not changed much (Zukeran). After learning from Dr. Strobel... ...MI: Kregel Publications. Davis, K., & Clark, B. (2011). Kisses from katie: A story of relentless love and redemption. New York, NY: Simon and Schuster. Strobel, K. (2013), Classroom Lectures, State University, Phoenix, Az. Strobel, L. (2000). The case for faith: A journalist investigates the toughest objections to Christianity. Grand Rapids, MI: Zondervan Publishing House. Tackett, D. (n.d.). Why is a Christian worldview important?. Retrieved from http://www.focusonthefamily.com/faith/christian_worldview/why_is_a_christian_worldview_important.aspx Wilkens, S; Sanford, M. (2009). Hidden Worldviews: Eight Cultural Stories That Shape Our Lives. Downers Grove, IL, InterVarsity Press. Zukeran, P. (n.d.). what happens after death? a Christian perspective. Retrieved from http://www.probe.org/site/c.fdKEIMNsEoG/b.4224733/k.63A1/What_Happens_After_Death.htm Importance of Worldviews Essay -- Cosgrove, Reality Cosgrove describes a worldview as â€Å"a set of assumptions or beliefs about reality that affect how we think and how we live† (p. 19). A person’s worldview has been molded from the day they were born by family, friends, media, and even strangers. Worldviews are important because they allow us to â€Å"develop a deep comprehensive faith that will stand against the unrelenting tide of our culture’s non-biblical ideas† (Tackett). Our actions also tend to mimic our beliefs—for example, if you believe that there is life after death like Christians do, your priorities should reflect your dedication to follow Christ and not be of this world (John 15:19 NLT). As I have learned more and more about worldviews in this class, particularly a Christian worldview, I have the opportunity to look back on what my worldview was and how it has changed. Because I have grown up in a church, and been a Christian for as long as I can remember, I have always thought of myself having a Christian worldview. However, after this course, I have realized that I did not know some of the basic Christian foundations—I did know that God is the creator of all things and that he is and everything he did is love. In the church I learned God is loving, all-powerful, all-knowing, eternal, unchanging, holy, and all good things, which are similar to the characteristics Dr. Strobel talked about in class. My picture of God has not changed much, if anything I have become more in awe, especially in regards to the trinity. My idea of what a person is, something that was made in God’s own image but sinned, and what happens to humans when they die, the body will stay but the soul will spend eternity in heaven or hell, has also not changed much (Zukeran). After learning from Dr. Strobel... ...MI: Kregel Publications. Davis, K., & Clark, B. (2011). Kisses from katie: A story of relentless love and redemption. New York, NY: Simon and Schuster. Strobel, K. (2013), Classroom Lectures, State University, Phoenix, Az. Strobel, L. (2000). The case for faith: A journalist investigates the toughest objections to Christianity. Grand Rapids, MI: Zondervan Publishing House. Tackett, D. (n.d.). Why is a Christian worldview important?. Retrieved from http://www.focusonthefamily.com/faith/christian_worldview/why_is_a_christian_worldview_important.aspx Wilkens, S; Sanford, M. (2009). Hidden Worldviews: Eight Cultural Stories That Shape Our Lives. Downers Grove, IL, InterVarsity Press. Zukeran, P. (n.d.). what happens after death? a Christian perspective. Retrieved from http://www.probe.org/site/c.fdKEIMNsEoG/b.4224733/k.63A1/What_Happens_After_Death.htm

Marriott Case

Marriott Corporation: The Cost of Capital Executive Summary J. Willard Marriott started Marriott Corporation in 1927 with a root beer stand, expanding it into a leading lodging and food service company with sales of over $6 billion by 1987. At the time, Marriott had three main lines of business, lodging, contract services and restaurants, with lodging generating about 51% of company’s profits. The four key elements of Marriott’s financial strategy were managing hotel assets rather than owning, investing in projects with the goal of increasing shareholder value, optimizing the use of debt, and repurchasing their undervalued shares.Marriott Corporation relied on measuring the opportunity cost of capital for investments by utilizing the concept of Weighted Average Cost of Capital (WACC). In April 1988, VP of project finance, Dan Cohrs suggested that the divisional hurdle rates at the company would have a key impact on their future financial and operating strategies. Marrio tt intended to continue its growth at a fast pace by relying on the best opportunities arising from their lodging, contract services and restaurants lines of businesses.To make the company managers more involved in its financial strategies, Marriott also considered using the hurdle rates for determining the incentive compensations. What is the weighted average cost of capital (WACC) for Marriott Corporation? WACC = (1 – ? )rD(D/V) + rE(E/V) D = market value of debt E = market value of equity V = value of the firm = D + E rD = pretax cost of debt rE = after tax cost of debt ? = tax rate = 175. 9/398. 9 = 44% Cost of Equity Target debt ratio is 60%; actual is 41% [Exhibit 1] ?s = 1. 11 ?u = ? s / (1 + (1 – ? ) D/E) = 1. 11/(1 + (1 – . 44) (. 41)) = 0. 80 Using the target debt ratio of 60%: Ts = ? u (1 + (1 – ? ) D/E) = . 8(1 + (1 – . 44) (. 6/. 4)) ?Ts =1. 47 Using CAPM: rf = 8. 95% long-term rate on U. S. government bonds (rm – rf) = 7. 43% a verage 1926-1987 rE = rf + ? Ts (rm – rf) = 8. 95% + (1. 47)(7. 43%) = 19. 87% Cost of Debt rD = government bond rate + credit spread = 8. 95% + 1. 30% = 10. 25% WACC = (1 – ? )rD(D/V) + rE(1 – D/V) = (1 – . 44) (. 1025)(. 6) + (. 1987)(. 4) = 11. 39% If Marriott used a single corporate hurdle rate for evaluating investment opportunities in each of its line of business, what would happen to the company over time? WACC for Marriott= 11. 39%WACC for lodging division = 9. 25% WACC for restaurant division = 13. 84% WACC for Marriott’s contract division = 23. 07% The main use of the hurdle rates is to assess investment decision in order to determine if it’s reasonable. Using different rates for different division is also good, but one has to be careful when applying a single cost of capital across the various departments. Based on the WACCs stated above for the company and its various departments it’s obvious that the values are different. The cost of capital for lodging is lower than for the entire company, while that of the other departments are higher.We can equate the cost of capital with risk, so therefore the risk in the lodging department is lower when compared with other departments that have a higher WACC. If Marriott was to use a single corporate hurdle rate then they will be using the 11. 39% rate which is for the entire company. By Marriott using this rate, then any project that arises out of the lodging division will be rejected since its cost of capital of 9. 25% is lower than the cost of capital for the company. Using a higher rate will result in a negative NPV as well as a reduced cash flow.Projects from the restaurant and contract service division will be approved since they are evaluated at a lower rate than the determined cost of these various divisions. Over time, Marriott will be approving more high risk project from the restaurant and contract service division by evaluating them at a lower rate, while they will be rejecting lower risk projects from the lodging division because they are using a higher rate. In summary, the risk that Marriott will be assuming will increase over time as it continues to approve high risk projects. What is the WACC for the lodging division of Marriott? |Market Value Leverage | | |Unlevered | | |D/V |Beta |Tax Rate |Beta | | | |? s |? |= ? s / (1 + (1 – ? ) D/E) | |Hilton |14. 00 |0. 76 |44. 00 |0. 70 | |Holiday |79. 00 |1. 35 |44. 00 |0. 43 | |La Quinta |69. 00 |0. 9 |44. 00 |0. 40 | |Ramada |65. 00 |1. 36 |44. 00 |0. 67 | |Total | | | | | |Average Unlevered Beta |0. 55 | | | ?u = 0. 55 Cost of Equity Using the target debt ratio of 74%: ?Ts = ? u (1 + (1 – ? ) D/E) ?Ts = . 55 (1 + (1 – . 44)(. 74/. 26)) ?Ts = 1. 427 Using CAPM: rE = rf + ? Ts (rm – rf) = 8. 5% + 1. 427(7. 43%) = 19. 55% Cost of Debt rD = government bond rate + credit spread = 8. 95% + 1. 10% = 10. 05% WACC = (1 – ? )rD(D/V) + rE(E/V) = (1 â⠂¬â€œ . 44)(. 1005)(. 74) + (. 1955)(. 26) = 9. 25% What is the WACC for the restaurant division Marriott? | |Market Value Leverage | | |Unlevered | | |D/V |Beta |Tax Rate |Beta | | | |? s |? |= ? s / (1 + (1 – ? ) D/E) | |Church’s |4. 0 |1. 45 |44. 00 |1. 42 | |Collins Foods |10. 00 |1. 45 |44. 00 |1. 37 | |Frisch’s |6. 00 |0. 57 |44. 00 |0. 55 | |Luby’s |1. 00 |0. 76 |44. 00 |0. 76 | |McDonald’s |23. 00 |0. 94 |44. 00 |0. 81 | |Wendy’s |21. 0 |1. 32 |44. 00 |1. 15 | |Total | | | | | |Average Unlevered Beta |1. 01 | | | ?u = 1. 01 Cost of Equity Using the target debt ratio of 42%: ?Ts = ? u (1 + (1 – ? ) D/E) =1. 01(1 + (1 – . 44)*. 42/. 58) = 1. 420 Using CAPM: rE = rf + ? Ts (rm – rf) = 8. 95% + 1. 42(7. 43%) = 19. 50% Cost of Debt rD = government bond rate + credit spread 8. 95% + 1. 80% = 10. 75% WACC = (1 – ? )rD(D/V) + rE(1 – D/V) = (1 – . 44)(. 1075)(. 42) + (. 1950)(. 58) = 13. 84% What is the WACC for Marriott’s contract services division? ?u for Marriott is the weighted average of the Divisional ? u’s: | |Identifiable Assets |Ratio |Beta Unlevered | |Lodging |$2,777. 4 |0. 61 |0. 55 | |Restaurants |$567. 60 |0. 12 |1. 01 | |Contract Services |$1,237. 0 |0. 27 | | | |$4,582. 70 | |0. 80 | .61(. 55) + . 12(1. 01) + . 27(? u) = . 80 ?u = 2. 514 Cost of Equity Using the target debt ratio of 40%: ?Ts = ? u (1 + (1 – ? ) D/E) = 2. 514 (1 + (1 – . 44) (. 4/. 6)) = 3. 45 Using CAPM: rE = rf + ? Ts (rm – rf) = 8. 95% + 3. 45(7. 43%) = 34. 58% Cost of Debt rD = government bond rate + credit spread rD = 8. 95% + 1. 40% = 10. 35% WACC = (1 – ? )rD(D/V) + rE(E/V) = (1 – . 44)(. 1035)(. 4) + (. 3458)(. 6) = 23. 07%