Monday, May 25, 2020
Night From the View of an S.S. Officer nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;This whole situation started out simple enough. The men and myself first moved into a little town called Sighet. The people there seemed so naive. None of them realized what was about to happen; none of them realized what happened when the Germans move into town. We first started by imprisoning the officials and made all the Jews were yellow stars. The Jews were then moved into a very small ghetto and cramped quarters. It was obvious that none of them had heard of the horror of the concentration camps and what awaited them once they left the safety of their homes. Some of the officers and I tried to be nice to the Jews because I,Ã¢â¬ ¦show more contentÃ¢â¬ ¦I know some of them have to be lying about their age. Boys that are barely 15 claiming they are 18, but they only want what everybody else at the camps want; to stay alive. nbsp;nbsp;nbsp;nbsp;nbsp;Some prisoners and myself were transferred to a camp named Buna. It was a four-hour walk to the camp and once we got there the prisoners were required to undergo more medical exams to make sure they are still fit to work. The dentist even went as far as to remove the gold crowns in prisonersÃ¢â¬â¢ teeth. Things were going well for a few months although the officers and myself would take nothing less than hard work and cooperation from everyone. One day we had an unexpected air raid on Buna. The planes showered the camp with bombs and that is when things started to get out of control. People were trying to get away, stealing items, and trying to sneak some extra rations of soup. The officers were told to publicly hang anyone who broke the rules during this attack. We were made to do it in front of the entire camp so they could see what would happen if a person disobeyed. I was put in charge of supervising the hanging, but I couldnÃ¢â¬â¢t let morals get in the way. I was put here to do a job and that is what I had to do. We executed 4 people in total, including a small child just for trying to get food. nbsp;nbsp;nbsp;nbsp;nbsp;I was aware that the Jewish holidays were approaching and it required them to fast. The rations that were given to the prisoners were hardly enough toShow MoreRelatedShadow of the Night619 Words Ã |Ã 3 PagesShadow of the Night On a freezing, dark blue night of Li, in the Village of Li-Marta. This was an old little village, the houses were nothing but ash and rubble except an old abandoned barn. The barn had creaking floor boards and a rotten wooden roof. In this abandoned barn there lived a young and confident farm boy; his clothes were ragged and full of holes. The young boy was called Rye named after the agricultural god Ren-Rye. As Rye was sitting on the creaking floor boards a thought hit himRead MoreThe Night By Elie Wiesel904 Words Ã |Ã 4 PagesIn Night by Elie Wiesel, the author reflects on his own experience of being separated from his family and eventually his own religion. This separation was not by any means voluntary, they were forced apart during the Holocaust. Wiesel was a Jew when the invasion of Hungary occurred and the Germans ripped members of his religion away from their home in Sighet. A once peaceful community where Wiesel learned to love the Kabbalah was now home to only dust and lost memories. Most members of that JewishRead MoreNight, By Eliezer Wiesel1585 Words Ã |Ã 7 Pages There are many important themes and overtones to the book Night, by Eliezer Wiesel. One of the major themes from the book includes the protagonist, and author of his memoire, Elie WieselÃ¢â¬â¢s ever changing relationship with God. An example of this is when Moche the Beadle asked Elie an important question t hat would change his life forever, as the basis of his passion and aptitude for studying the ancient texts and teachings of Judaism, Ã¢â¬Å"When Moche the Beadle asked Elie why he prayed, Elie couldn tRead MoreNight Market Marketing Essay833 Words Ã |Ã 4 Pages Preparing for Night Market Success Its funny how some night markets transform almost magically into something romantic even. Is it because of the moon, the lighting, the food, the music or the people? I believe its all of those features that make a momentous night at the market. In light of this, we believe market booths have the ability to return higher profits after dark. Therefore, we have come up with several key ideas to prepare your market stall for night success. Most vendors relyRead MoreStarry Night971 Words Ã |Ã 4 PagesStarry Night is a beautiful painting, representational in the type of art. The size of the painting is 29 in. by 36 Ã ¼ in., and oil on canvas were the materials used. Van Gogh is using an expressive quality and an emotionalism viewpoint. On the left side of the painting, there is a group of black lines that curve in waves upward, coming to a point. To the lower right, there is a small town that leads up to hills and then mountains. The painting is set at night, and the sky is a wondrous swirl of burstingRead MoreThe Night Sky - Original Writing926 Words Ã |Ã 4 PagesIt was a dark and stormy night, the wind blows as the ghostly moonlight filled the darkness. George the highwayman made his way toward Bess the innkeeperÃ¢â¬â¢s daughter. She was gazing out the window when the two of their eyes met. Hers, black as the night sky, and a dark red love knot placed on her hair. A red dress made of the fabric silk. Her h air was a dark brown, but could have been mistaken as black. Her outfit fit her personality as much as it did the highwayman. I hope he loves poetry.Read MoreSummary Of Night By Eli Wiesel1561 Words Ã |Ã 7 PagesNight by Eli Wiesel Amrinder Bhuller P.2 Author: The author of Night is Elie Wiesel. In my opinion, he did a very good job in writing this story! Eli was born on September 30, 1928. Eli is currently 86 and has written a lot of books. Eli had served as a prisoner Auschwitz and other concentration camps. He wrote all his experiences in this book. The Night talks about his experiences in these concentration camps and all he went through. Everything is probably historically correct because he wentRead MoreThe s Night - Original Writing1526 Words Ã |Ã 7 PagesEverything that happened in Elie WieselÃ¢â¬â¢s night. I will see, smell, and feel the holocaust through the eyes of Wiesel. Ã¢â¬Å"Alright, uh, Yavin. Nice name. IÃ¢â¬â¢m Mr. Hiraku. Are you ready?Ã¢â¬ the teacher asked, looking down at his chart for my name. Ã¢â¬Å"Yes sir.Ã¢â¬ I answered, a bit shakily. I had used VR before for video games, but never for something so important. Ã¢â¬Å"Alright. IÃ¢â¬â¢m going to read you off some side effects involved with this experience. Ã¢â¬ËWhile participating in the Night VR experience software, you may encounterRead MoreNight, Hope, By Elie Wiesel1580 Words Ã |Ã 7 Pagesthey grabbed onto it as tightly as they could. Throughout Elie WieselÃ¢â¬â¢s memoir, Night, hope is a recurring theme. Elie and the people he was around were living in the darkest of conditions, but they still were able to shine a bright light on their situation. They remained hopeful, and this inspired the world. Putting all of this together, it is evident that the theme of hope was demonstrated throughout the book Night because Elie and the Jewish people tried to remain hopeful as they were forced intoRead MoreNight Time Tour951 Words Ã |Ã 4 Pagesonce more at the sea where the sunset splattered colors of red and orange on the rough surface of blue and violet. Although the boardwalk was lively with smells of French fries and the cries of s eagulls, I nuzzled into the car seat and waited for the Night Time Tour to begin. I absolutely loved long car rides; it was the perfect excuse to let idle thoughts roam and to isolate myself from the world. I only observed the outside through the window of the family van, my personal theater. The images that
Thursday, May 14, 2020
Culture Communication Style Proble China and its people have a very specific way of conducting business and one of the most important things to consider is that the Chinese highly value relationships. It is hard to break into the Chinese market, without first creating a relationship with a businessperson from the area. One of the most vital steps towards having a successful business endeavor with Chinese people is Ã¢â¬Å"understanding the web of relationships that defines business in ChinaÃ¢â¬ (Loyalka, 2006). To build these relationships, the Chinese prefer to start out informal. Ã¢â¬Å"Sharing enjoyable times with Chinese partners helps form relationshipsÃ¢â¬ (Leung, 2008). Going to dinner or a karaoke bar are just a few examples of normal relationship building activities. To take it to the next level, Ã¢â¬Å"lasting [relationships]Ã¢â¬ ¦come from deals that go beyond making money to include benefits for local workers and communitiesÃ¢â¬ (Leung, 2008). It is obvious that the Chinese people also value the i dea of community. Building relationships and supporting local communities are imperative values to remember when working in the Chinese business world. ms The need for effective communication in conjunction with cultural awareness, sensitivity, and understanding is intensified when working with other cultures such as ChinaÃ¢â¬â¢s. The key communication tenants to consider when conducting business in China are international cultural variances and non-verbal communication styles (Dou Clark Jr., 1999,Show MoreRelatedChinese Management Style and Western Style1169 Words Ã |Ã 5 PagesCompare and contrast common Chinese management styles and common Western management styles By Di Yang 09114786 Accounting, XiÃ¢â¬â¢an Jiaotong-Liverpool University Introduction It is a fact that the economic trade tends to occur among counties all over the world. The managerial styles about how to plan a project and control a complete process as well as directing work of subordinates in companies especially in the multinational enterprises become similar in the economicRead MoreCultural Dimensions Of Global Business Communications1644 Words Ã |Ã 7 Pages Global Business Communications, which to equip students to communicate effectively as managers in a global environment. Through the module, I have learned the importance of intercultural communication. According to Guirdham (2011), Ã¢â¬ËCommunication can claim to be the most important single work activityÃ¢â¬â¢, in addition, interpersonal communication has as well as more important on individual works and team works. Due to culture is broad and profound, all we can touch is only a tip of the iceberg. InRead MoreDifferences Cultural in Chinese Food and Western Food1648 Words Ã |Ã 7 PagesIntercultural Communication Ms. Jamie Ku 9th June 2013 The Cultural Differences between Chinese and Western Food Abstract Food is one of the most enjoyable aspects of cultures to share. Every place has its own culinary delights to discover. Food culture can reflect the indication of human social development and improvement. In this paper, food ideas and values, food production, processing and other aspects of cooking, compared the consumer psychology of Chinese and Western food culture differencesRead MoreThe International Business Negotiations Influenced By Chinese And American Cultures And Differences743 Words Ã |Ã 3 Pagesinfluenced by Chinese and American cultures and differences Jialin Zhao CMN6060 Professor Stephen Novick October 26, 2016 Abstract Cultural negotiations are business negotiations with different cultural conditions. Under the background of economic globalization and international economic integration, the business ties between countries are becoming more and more closely. In order to avoid cultural conflicts, it is important to understand the different cultures of different countries. This articleRead MoreEssay on Ecl in China917 Words Ã |Ã 4 PagesECL in China Case Study Problem Identification and Situational Analysis ECL is a multi-national corporation that continues to expand its core business as well as create opportunities for foreign divisions to influence the direction of the company in addition to bringing cohesion and unity throughout the workforce. ECL developed a division in China that allowed the company to integrate into the Chinese market but also presented it with issues it would need to manage successfully in order toRead MoreCauses of the Hyper Growth Phenomenon in China and Japan Essay1564 Words Ã |Ã 7 Pagesis Hong Kong, Korea, Singapore, Japan and China. In this essay China and Japan will be selected as representative in comparing and contrast of both business system as they are one of the largest economic bodies in the world and they both have rich history in business system development. Additionally, the essay will include analysis on factors that cause the differences of 2 business systems which include, business cultural communication, management styles and the forma tion of economic institutionRead MoreCross Cultural Communication Strategy Between The Roaring Dragon Hotel And Hotel International1016 Words Ã |Ã 5 Pages Cross-Cultural Communication Strategy: The Roaring Dragon Hotel and Hotel International Prasanna Baganagarapu Sullivan University MGT 510 Ã¢â¬Æ' Executive Summary This proposal is meant to provide a cross-cultural communication strategy between the Roaring Dragon Hotel (RDH), and the Hotel International (HI). RDH is one of the original three-star hotels in southwest China and a state owned enterprise (Grainger, 2008). This proposal will address the issues thatRead MoreVolunteer Management Course: A Reflective Essay1338 Words Ã |Ã 5 PagesIntroduction My name is Chao and I come from China. I wanted to take this course to improve my leadership abilities. I have spent time in a variety of managerial roles, often as a volunteer myself, and now I find myself leading volunteers. In China, we have a communal ethic, where the entire community and population pulls together to make sure that projects are a success. We have put together basketball and volleyball teams and tournaments with our school, and at the neighbourhood level organizedRead MorePerception of the Chinese People1333 Words Ã |Ã 5 PagesIntroduction I Choose China because I am part Chinese and wanted to understand their culture a lot better. I believe if I learn more about the Chinese culture I will be able to understand their communication and tendencies better. Also to be honest I am just as guilty as anyone in not knowing the differences between Japanese and Chinese culture, so on a side note I also hope to clear up a few misunderstandings. At the very least you will know some information about the Chinese culture solving part of theRead MoreEssay on intercultural communication1346 Words Ã |Ã 6 Pagesintercultural communication is also required.Ã¢â¬ Do you agree or disagree with his opinion? In a well-structured essay explain your ideas using clear examples to support your ideas. Distance and time are no longer the biggest obstacles to doing business, as result of human innovation and technological progress. And with the development of communications and wide-spread cooperation all over world, more and more companies are exploring the international market. (Johnson 2012) Intercultural communication has
Wednesday, May 6, 2020
The science of eugenics was widely used during the 20th century in the United States to strategically eliminate the reproductive rights of women who were deemed inferior on the social ladder (Ã¢â¬Å"What is Eugenics?Ã¢â¬ ). Some women of color, women with disabilities, and women from lower financial classes were sterilized for permanent birth control, and sometimes without their consent or knowledge (Ã¢â¬Å"What is Eugenics?Ã¢â¬ ). The eugenics movement was aimed to promote selective human features in order to increase those with intelligence, good health, physical characteristics, and class. Currently, the recent controversy of human genetic engineering has scientist concerned that it will become the new eugenics. Sterilizing women as a precaution to prevent the overpopulation of unfavorable offspring would go against Jonathan SwiftÃ¢â¬â¢s equal treatment of all humans, Benjamin FranklinÃ¢â¬â¢s hopes for men to understand the value of humanity, and be a direct violation to t he natural born rights of all humans. Therefore, the controversial practice of genetic modification to restrict reproduction rights only to people of desirable traits is unethical because it promotes racial cleansing. Ã¢â¬Å"A Modest ProposalÃ¢â¬ by Jonathan Swift proposes to eliminate the poor Irish Catholics to prevent them from becoming a burden to society. Swift insists that poor Irish Catholics should participate in outrageous behavior that are similar to eugenics. However, Swift uses verbal irony and fallacies to create a superficialShow MoreRelatedEugenics And The Eugenics Movement1512 Words Ã |Ã 7 PagesEugenics is the pseudoscience of obtaining desired traits in a population through controlled repopulation, specifically by preventing those deemed Ã¢â¬Å"unfitÃ¢â¬ by Ã¢â¬Å"Nordic stereotypesÃ¢â¬ from breeding. Most modern day Americans do not realize the origins of eugenics, which was planted by Charles Darwin and Sir Francis Galton and bloomed in America, and w hat effect it had on the attempt to create a master race in Nazi Germany. America played a very influential role in German eugenics by collaboration betweenRead MoreEssay on Eugenics1060 Words Ã |Ã 5 Pages The roots of eugenics can be traced back to Britain in the early 1880Ã¢â¬â¢s when Sir Francis Galton generated the term from the Greek word for Ã¢â¬Å"well-bornÃ¢â¬ . He defined eugenics as the science of improving stock, whether human or animal. According to the American Eugenics Movement, todayÃ¢â¬â¢s study of eugenics has many similarities to studies done in the early 20th century. Back then, Ã¢â¬Å"Eugenics was, quite literally, an effort to breed better human beings Ã¢â¬â by encouraging the reproduction of people with quot;goodquot;Read MoreEugenics : The And The Pursuit Of Happiness1365 Words Ã |Ã 6 Pagesthis period of time is considered Ã¢â¬Å"EugenicsÃ¢â¬ . Eugenics can be seen as a reasonable, and fair thing to do. However eugenics is now seen as an u nreasonable, vicious and corrupt thing to do. Eugenics is still a problem that America daily; now it is just classified in a different way. The word Eugenics comes from the Greek roots for good and origin, or Ã¢â¬Å"good birthÃ¢â¬ therefore it involves applying genetics for the purpose of improving the human race. The term eugenics was first used by Francis Galton,Read MoreArticle Abstracts: Concept of Nazism1283 Words Ã |Ã 5 Pagesis exploring the less-examined, less-understood, and even the less acknowledged aspects of the history of the Nazi party and the movement towards Nazism. Using an analytical approach that identifies key figures, events, and historical trends in Germany and the world during the development and progress of the Nazi party and Nazism, Hayek concludes that there was a movement both by the far-left and the far-right against the liberalism of the period following World War I, and that it was the combinationRead MoreEugenics Essay1545 Words Ã |Ã 7 PagesEugenics, the word that got its bad reputation years ago through an event that changed history: the Holocaust. First dubbed by Francis Galto n in the 1880Ã¢â¬â¢s, the word Eugenics stemmed from the words Ã¢â¬Å"goodÃ¢â¬ and Ã¢â¬Å"generation.Ã¢â¬ (Eugenics-Meanings) Eugenics means the study of or belief in the possibility of improving the qualities of the human species or a human population. This improvement is done through discouraging reproduction by persons having genetic defects or presumed to have inheritable undesirableRead MoreThe Use Of Sterilization Of Minorities By Supporting The Eugenics Movement946 Words Ã |Ã 4 PagesNazi-reigned Germany. Supposedly, this rhetoric has been disproven throughout the United States; however, there are proven accounts that the United States government has recently supported this theory of sterilization of minorities by supporting the eugenics movement, which was not only in Nazi Germany, but also on United States soil. The topic of improving the genetic makeup of different races has not only just become a common theme for many modern day countries to use to make thei r societies more geneticallyRead MoreThe Theory Of Sterilization Of Minorities By Supporting The Eugenics Movement950 Words Ã |Ã 4 PagesGermany. Supposedly, this rhetoric has been disproven throughout the United States; however, there are proven accounts that the United States government has recently supported this theory of sterilization of minorities by supporting the eugenics movement. This movement was not only practiced in Nazi Germany, but also on United States soil. The topic of improving the genetic makeup of different races has not only just become a common theme for many modern day countries to use to make their societiesRead MoreWhy Eugenics Is A Violation Of A Human s Rights1749 Words Ã |Ã 7 Pageshuman rights is to challenge their very existence.Ã¢â¬ In the past century, humans have been experimenting and debating the use of eugenics, which is the science of improving the human race through controlled breeding in order to increase the occurrence of desirable , heritable characteristics (Mankiller). Although eugenics is supported by many, one could argue that eugenics is a violation of a humanÃ¢â¬â¢s rights. In the United States Constitution, some of the human rights mentioned are the right to libertyRead MoreThe United States Should Not Freedom Of Choice1585 Words Ã |Ã 7 Pageswhere authoritarian Eugenics dictated which traits/race were favored. Allowing individuals to have a freedom of choice, according to Agar, it motivates us to adopt pluralistic view and monistic view of human excellence. As a consequence, Ã¢â¬Å"an evil doctrineÃ¢â¬ is being alter into a morally acceptable one. In other words, with liberal Eugenics everyone is free to follow their personal conception of human excellence without being dictated by an authoritarian figure like in past movements. But if this liberalRead MoreEugenics, The Progressive Development Of The Idea1622 Words Ã |Ã 7 PagesThe term Ã¢â¬Å"eugenicsÃ¢â¬ derived from Greek with the pre fix eu- for Ã¢â¬Å"goodÃ¢â¬ and the suffix -genos for Ã¢â¬Å"birthÃ¢â¬ is defined as the science which deals with all influences that improve the inborn qualities of a race. The idea began to arise in the eighteenth century with the theories of evolution and the discussions of race, which gave an opportunity for some to consider and judge that certain traits and features were better and more appealing than others. In this analysis, we will be focusing on the beginning
Tuesday, May 5, 2020
Question: Describe about the Finance for Managers for Earnings Transparency. Answer: 1: Present dividend = D0 = 2.35 Required Rate of return = R = 15% Growth rate for first 5 years = g1 = 22% Dividend at end of year 1 = D1 = D0 * (1+g1) Present Value of dividend D1 = PV (D1) = D1/ (1+ R) Dividend at end of year 2 = D2 = D0 * (1+g1) ^2 Present Value of dividend D2 = PV (D2) = D2/ (1+ R) ^2 Similarly for t=5, Dividend at end of year t = Dt = D0 * (1+g1) ^t a) Present Value of dividend Dt = PV (Dt) = Dt/ (1+ R) ^t Growth rate after 5 years = g = 6% b) Price of share at end of year 5 = P5 = (D0 * (1+g1) ^5 * (1+g))/ (R-g) Present Value of Price of share at end of year 5 = PV (P5) = P5/ (1+R) ^5 c) Price of share today = PV (D1) + PV (D2) + PV (D3) + PV (D4) + PV (D5) +PV (D1) + PV (P5) For exact calculation refer to attached excel sheet d) The following factors are followed by the Financial Managers of a company at the time of deciding the dividend policy of that company: Type of the Industry: The industries which generate consistent revenue adopt the stable dividend policy. On the other hand, the industries which generate uncertain revenues are conservative in the adoption of the dividend policies (Malik et al. 2013). The Age of Companies: New companies use to retain their earnings as they need capital for the business; they invest back the earning in spite of giving dividends. In case of the new companies, there are not any issues regarding investment; thus they give dividends out of the earnings (Rafique 2012). Leverage: Due to have debt liabilities, companies with greater leverages gives small amount of dividends (Obradovich and Gill 2013). Liquidity: Having large amount of cash reserves and other liquid assets, the companies are able to pay higher amount of dividends. Inflation: The companies use to pay fewer amounts of dividends and retail the earning at the time of inflation (Khan, Meher and Syed 2013). 2: F = Face Value N = Time period Since coupon is paid semi-annually, m=2 No. of time coupon is paid = m*n Coupon Rate = 9.875% R = Rate of interest a) Market Value of Bond = (C/m)/(R/m) * [1- 1/(1+R/m)^mn] + F / ( 1 + R/m)^mn b) The bond prices increase when the interest rate decreases and vice-versa. (Exact calculation is attached in the excel file) c) When the price of the bond which is trading in the market is higher than its par value, it is considered as the Premium Bond (Favara et al. 2016). On the other hand, when the price of the bond which is trading in the market is lower than its par value, it is considered as the Discount Bond (Elliott and Nishide 2014). d) The increase in bond price is due to the decrease in the interest rate and vice-versa (Malkiel 2015). 3: a) Debt D 300000000 Bonds Coupon C 0.09 time period n 15 m 2 time interval mn 30 Face value F 1000 Price of bond Pb 1440.03 Price of Bond = Pb = (C/m)/ (Rd/m) * [1- 1/(1+Rd/m)^mn] + F / ( 1 + Rd/m)^mn Input all values to calculate Rd Ordinary shares 14000000 Dividend D1 2.2 Growth g 0.05 Price of share P0 20 Price of share = P0 = D1 / (Ro-g) Input all values to calculate Ro Preference Shares 2000000 Price of share Ps 12 Dividend D 1.2 Price of share = Ps = D/ Rs Input all values to calculate Rs Tax Rate = t = 30% Value of debt = D = 300000000 Value of ordinary shares = Vo = Number of ordinary shares * Price of ordinary shares Value of preference shares = Vs = Number of preference shares * Price of preference shares Total Value of company = V = D+ Vo + Vs Weighted Average Cost of Capital = WACC = (D/V)* (Rd) * (1-t) + (Vo/V)*Ro + (Vs/V)*Rs b) The cost of capital is controlled by the Financial Managers by controlling the following factors: Capital Structure: The increase in cost of capital is caused by more amounts of debts. As a result the cost of capital is changed. The same is applicable for the equities Dividend: The cost of capital can be changed by the company by controlling the payout ratio. Policy of Investment: Cost of debt and cost of equity is changed with accordance to the investment policy of the company. Here, the risk factor needs to be considered (Barth, Konchitchki and Landsman 2013). 4: a) The Loan of Bank of America The amount Toyota plans to borrow = $5 million Term of the loan = 90 days Interest cost = Prime rate 1.125% = 6.25% 1.125% = 5.125% Interest cost = $5,000,000 0.05125 (90/360) = $64,062.50 The Loan of Daiwa Bank The amount Toyota plans to borrow = $5 million Termof theloan= 90 days Interestcost= LIBOR +0.75%= 4.2%+ 0.75%= 4.95% Interest cost = $5,000,000 0.0495 (90/360) = $61,875 The Daiwa Bank offers Toyota thelower cost loan with a lower interest cost of $61,875 versus $64,062.50. b) Yield to maturity (YTM) refers to the total return expected on a bond if it is held till maturity and all the payments are made as scheduled. YTM helps the financial managers in comparing bonds with different coupon rates and maturities (Billett, Hribar and Liu 2015). 5: Expected Cash flow in Korean Won = Cash flow (US millions) * Expected exchange Rate (won/$) Present Value of expected cash flow = Expected Cash flow in Korean Won / (1+R) ^t Where R = Discount Rate and t = time in years Net Present Value = Sum of all Present Value of expected cash flow Moon Rhee should proceed with the project as the Net Present Value (NPV) is positive provided that it has the enough amount of financial backing to invest such a large amount and wit for three to four years for the return (Pasqual, Padilla and Jadotte 2013). 6: Billys Tools EBITDA = Profit Depreciation and Amortization Earnings per share = EPS = EBITDA / No. of shares P/E = Price of share / EPS Enterprise Value /EBITDA = ((Price of share * No. of shares) + Debt) / EBITDA Johnson Machine Tools Ltd EBITDA = Profit Depreciation and Amortization a) Value of shares of company using P/E = P/E * EBITDA Total value = Value of shares of company using P/E + Debt b) Total value using value/EBITDA = (Enterprise Value /EBITDA) * EBITDA Value of shares = Total value using value/EBITDA- Debt 7: a) Scenario 1 Scenario 2 Selling Price 20 22 Demand 15000 13500 Variable cost 10 10 Fixed cost 100000 100000 EBIT 50000 62000 Depreciation and Amortization 20000 20000 Tax rate 0.3 0.3 Working capital 3000 3000 Free cash flow 52000 60400 EBIT = ((Selling Price Variable Cost) * Demand) Fixed Cost Free Cash Flow = EBIT (1- tax rate) + Depreciation and Amortization Working Capital Free Cash Flow will increase if the price is increased. b) Scenario Analysis is a more realistic tool for the assessment of the impact if different scenario on a project. There is a difference between sensitivity analysis and scenario analysis. Sensitivity Analysis considers the sensitivity of the Net Present Value (NPV) analysis to changes in the variable values (Gal and Greenberg 2012). On the other hand, Scenario Analysis considers the probability of the changes in NPV Analysis happening in the variables (Dutta and Babbel 2014). References Barth, M.E., Konchitchki, Y. and Landsman, W.R., 2013. Cost of capital and earnings transparency.Journal of Accounting and Economics,55(2), pp.206-224. Billett, M.T., Hribar, P. and Liu, Y., 2015. Shareholder-manager alignment and the cost of debt.Available at SSRN 958991. Dutta, K.K. and Babbel, D.F., 2014. Scenario analysis in the measurement of operational risk capital: a change of measure approach.Journal of Risk and Insurance,81(2), pp.303-334. Elliott, R.J. and Nishide, K., 2014. Pricing of discount bonds with a Markov switching regime.Annals of Finance,10(3), pp.509-522. Favara, G., Gilchrist, S., Lewis, K.F. and Zakrajsek, E., 2016.Recession Risk and the Excess Bond Premium. Board of Governors of the Federal Reserve System (US). Gal, T. and Greenberg, H.J. eds., 2012.Advances in sensitivity analysis and parametric programming(Vol. 6). Springer Science Business Media. Khan, M.I.K., Meher, M.A.K.M. and Syed, S.M.K., 2013. Impact of Inflation on Dividend Policy: Synchronization of Capital Gain and Interest Rate. Malik, F., Gul, S., Khan, M.T., Rehman, S.U. and Khan, M., 2013. Factors influencing corporate dividend payout decisions of financial and non-financial firms.Research Journal of Finance and Accounting,4(1), pp.35-46. Malkiel, B.G., 2015.Term structure of interest rates: expectations and behavior patterns. Princeton University Press. Obradovich, J. and Gill, A., 2013. Coporate Governance, Institutional Ownership, and the Decision to Pay the Amount of Dividends: Evidence from USA. Pasqual, J., Padilla, E. and Jadotte, E., 2013. Technical note: equivalence of different profitability criteria with the net present value.International Journal of Production Economics,142(1), pp.205-210. Rafique, M., 2012. Factors affecting dividend payout: Evidence from listed non-financial firms of Karachi stock exchange.Business Management Dynamics,1(11), pp.76-92.
Friday, April 10, 2020
Deliverable 1 The Motion Picture Industry Value Chain Could the motion picture industry add value to their productions if they concentrated on only one venture? Most of the distribution in the market is done by the divisions of major studios. The studioÃ¢â¬â¢s investments span across various major fields and this makes the management of the investment a great challenge. Advertising We will write a custom essay sample on The Movie Exhibition Industry specifically for you for only $16.05 $11/page Learn More If the studioÃ¢â¬â¢s concentrated only on movie production, the quality of their productions would increase. They would channel all their energies into creating new movie ideas and this would definitely appeal to their target audience. The Business of Exhibition Could movie exhibitors find other ways of adding value to the customer while gaining revenue? Most of the profits made by exhibitors are from the sale of concessions. The food served at the movies has gradually increased in price but the quality has remained the same. If movie exhibitors diversified their food options and incorporated alcohol in their drinks options, their high food prices would be justified and the customer base would be increased if they added food options for vegetarians. The Theater Experience Now that people can watch movies in their own home, what can movie exhibitors do now to gain that competitive advantage over home theatre systems and offer customers something that their home theatre system cannot? In order to stay in business, the theaters can open smaller branches closer to the living areas so that the people do not have to go through long drives to get to the movies. They should be placed around malls where a lot of people frequent for necessities like food. This would attract customers who had gone to the mall for other reasons and have time to spare. Raising the Exhibition Curtain in 2011 and Beyond How can exhibitors ensure that they re tain their customers with the current economic recession? The exhibitors are overcharging the customers and this has reduced the number of people willing to go to the movies. The exhibitors should be considerate when they set their price. The customers understand a small price hike due to recession but extreme price hikes as have been witnessed, are affecting the number of people going for movies. Deliverable 2 Is the lack of competition from new investors causing these companies to deliver low standard services? How much more do the exhibitors need to do in order to maintain the theater experience do they need to shift to a completely different type of service that no other entertainment venue can offer for that same price? How can the theaters survive the hard economic times while ticket prices are rising, the number of people going to movies is dropping, and the numbers of theatres are increasing? Deliverable 3 The motion picture industry seems to be lacking competition from ne w investors. If there were more studios producing movies, there would be more ideas being made into different movies. This would attract more movie goers. Similarly, if more companies invested in exhibition, the competition would force the exhibitors offer better services. For exhibitors to create a great experience for movie goers they can improve the food they sell and more food options availed. The people working at the movies should also be polite to the customers and treat them well. For theaters to still make a profit without overpricing the tickets, they could reduce the number of staff they have by introducing computerized ticket sale point and drink buying points. They could save on the workers salaries and still run a profitable and efficient business.Advertising Looking for essay on art and design? Let's see if we can help you! Get your first paper with 15% OFF Learn More This essay on The Movie Exhibition Industry was written and submitted by user Malaysia Alvarez to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.
Monday, March 9, 2020
When the Free Market Dries Out Bremmers Account of the Future Economics It seems that the idea of a capitalistic society and the fact that capitalism is at present the only logical way to structure various social and economical relationships seems obvious enough; yet it cannot be denied that certain alternatives may exist and that capitalism is, after all, the idea created by people and can be, therefore, just as easily demolished by them.Advertising We will write a custom book review sample on When the Free Market Dries Out: BremmerÃ¢â¬â¢s Account of the Future Economics specifically for you for only $16.05 $11/page Learn More Taking a closer look at the ideas which Ian Bremmer communicates in his recent book The end of free market, one must take into account the sad fact that capitalistic structure of society might finally prove less resistant in the competition with the rest of structures than expected. Analyzing the book by Bremmer ad checking its verbosity, one can possibly come to the conclusion whether the humankind wil l finally be dominated by a less flexible system known as state capitalism or remain within the boundaries of the traditional democratic ideas. According to what Bremmer says, it is the state capitalism that poses the greatest threat to the realm of the capitalistic world. Undermining the very principles of the capitalistic ideas, it is finally going to destroy the fundament of the society as it is today, making markets completing subjected to the power of the state government. In BremmerÃ¢â¬â¢s own words, the people obsessed with totalitarian ideas Ã¢â¬Å"have invented something new: state capitalism1Ã¢â¬ ; according to the author, the given system is supposed to destroy the entire mechanism of the capitalist world and finally bring the existing financial economical and political relationships to an inevitable end. Analyzing the given book, one must mention, first of all, that the arguments which the author offers are in fact quite string. Indeed, the concept if the state capit alism is not the product of someoneÃ¢â¬â¢s inflamed imagination Ã¢â¬â on the contrary, the theory is rather old and has sufficient grounds to base o. According to the evidence offered by Grinder and Hagel, the concept of state capitalism is quite a well-known idea which differs from the fundamentals of capitalism Ã¢â¬Å"with regard to the second proposition: that an inherent antagonism exists between banks and industrial corporations.Ã¢â¬ 2Advertising Looking for book review on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More However, even back then, the authors could see the obvious flaws of the proposed system: Ã¢â¬Å"This is not to deny the possibility that localized conflicts of interest may frequently emerge between particular banks and particular industrial corporations over the perception of profit opportunities.Ã¢â¬ 3 Therefore, it should be admitted that the threat of the state capitalism develo pment has been quite an issue for a considerable amount of time. In addition, among the arguments which Bremmer provides in his argument concerning the effects of the possible state capitalism advent, the fact that globalization enhances the above-mentioned process is evident. According to the author, Ã¢â¬Å"All that movement across borders will eventually strip nation-states of their power, because governments will never be able to manage the international commercial, political, social, and environmental challenges that globalization createsÃ¢â¬ 4. However, the author misses the positive effects of globalization, namely, the significance which globalization has for a range of developing countries. Indeed, dealing with the countries which are currently only developing their economics and are at their earliest stages of development is quite complicated and even dangerous; in addition, the leading countries do not bear such moral obligations as to help the developing countries striv e for better economical conditions. According to Lee and Vivarelli, globalization, despite the numerous controversies it might cause, does have a sufficient effect on such issues as unemployment, helping to resolve the issue:Advertising We will write a custom book review sample on When the Free Market Dries Out: BremmerÃ¢â¬â¢s Account of the Future Economics specifically for you for only $16.05 $11/page Learn More When a developing country opens its borders to foreign capital, FDIs generate positive employment impacts both directly and indirectly through job creation within suppliers and retailers and also a tertiary employment effect through generating additional incomes and so increasing aggregate demand.5 Therefore, it can be considered that the ideas which Bremmer conveys might seem a bit selfish and appropriate only for the leading countries of the world, while the developing ones might fall into an even worse crisis. Because of the given issue, the ideas offered by Bremmer cannot be considered as completely true and unbiased suppositions. If Bremmer had been less focused on the leaders in the world market sphere and paid a tad more attention to the concerns of the third-world countries, he could have come to a different decision. Another important element in BremmerÃ¢â¬â¢s assessment of the existing policies concerning markets and their variations all over the world, which borders prophecy, is the fact that the author traditionally considers the Russian and the Chinese markets as not fully compatible, since they are supposedly still influenced by the state, though legitimately governed by free entrepreneurships. Indeed, the effects of the Cold War are still evident.6 However, according to what the report offered by Dun and Bradstreet Ltd. Says, The combined impact of the new monetary policy direction and increased investor risk aversion will result in further downward pressure on the Real, which experienced a rapid depreciat ion against the US dollar in September and continues to experience volatility in light of the euro-zone crisis. Notably, inflation has remained stubbornly high despite the slowdown in the economy; CPI inflation rose to 7.3% in September although we anticipate that it will ease slightly by end-2011). No matter how hard it is to accept the bitter facts which Bremmer offers in his work, it is still clear that the Eastern Europe and the Asian countries, namely, China7, are suffering considerable crisis currently and, which is even more significant, are going to face another economic challenge in the nearest future. According to the statistics data and the economical prognoses provided in the DG Special Report,Advertising Looking for book review on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More DB expects the economy to slow in 2012. Russia remains vulnerable to the risk aversion that gripped global financial markets during August-October 2011. In Q3 alone the country registered USD18.7bn in net capital outflows, and the rouble fell by 12% against the US dollar.8 Hence, Bremmer offers a precise analysis of the current state of economy in the worldÃ¢â¬â¢s largest countries, thus, basing his research on completely verified and, therefore, impeccable and trustworthy data. However, it is still worth noticing that the researcher does not compare the data with the previous records, offering only the results of a relatively short time period. Despite the somewhat insistent tone of the book, Bremmer does provide solid research; among the most impressive pieces which the author offers, the classification of the state capitalism models is an all-embracing overview of the shapes which the phenomenon has taken or can presumably take. As the author himself warns the readers, State ca pitalism is not a single coherent political ideology. ItÃ¢â¬â¢s a set of principles that a government can adapt to meet its particular needs. As weÃ¢â¬â¢ll see, Saudi royals, RussiaÃ¢â¬â¢s elite factors, and ChinaÃ¢â¬â¢s senior party leadership design policies intended to extend their domestic power within very different political environments. (85) Thus, the fact that the author acknowledges the existence of various types of state capitalism due to the difference in cultural, economical and political peculiarities of different countries is an obvious advantage of the book. Offering a more profound analysis and allowing to investigate the problem even deeper, the classification which the author offers is extremely important for the further prognoses for the future of the capitalistic relationships and the free market. However, it can also be considered a major drawback that the author apparently diminishes the role of government concerning of the financial and economical pro cesses which are going on in the corresponding countries. According to what Bremmer says, the states should not interfere the economical or the financial situation which the state companies are currently in, providing only financial support for the state-owned enterprises: Ã¢â¬Å"To finance all these state-owned and state-supported companies, governments should simply print the money they need, but they would lower the value of their currencies, stroke inflation, and undermine the value of their assets in the processÃ¢â¬ 9. In addition, Bremmer never refers to the obvious Ã¢â¬Å"moral hazardÃ¢â¬ 10, as Mostrous, Gue and Dittman defined the issue concerning the state capitalistic system in action. Nevertheless, among the negative aspects of BremmerÃ¢â¬â¢s work, the overall tone of the research and the emphases put on certain issues are worth being reconsidered. For instance, Bremmer does not stress the importance of the change where it comes as an obvious and undeniable fact: Ã ¢â¬Å"In meetings of much greater consequence now taking place around the world, this inability to agree on the proper role for the state in the performance of markets will change the way we liveÃ¢â¬ 11. In addition, it seems that Bremmer, though acknowledging the necessity and inevitability of the globalization process, still does not approve of it. The latter could be considered an opinion which must be taken into consideration, yet the author does not convey the exact negative results of the globalization except the fact that it is likely to spur the above-mentioned fusion of different countriesÃ¢â¬â¢ economical and financial policies. According to Bremmer, the latter is likely to drive to state capitalism structure emerging in the rest of the countries and finally gripping the world, ousting the current capitalist system: The most obvious example comes from the transition from an international bargaining table dominated by heads of state of the G7 group of industrialized nat ions- all of them champions of free-market capitalism- toward a G20 model that acknowledges the need to allow relative free-market skeptics like China, Russia, Saudi Arabia, India, and others to join the conversation.12 Addressing the positive aspects of the research conducted by Bremmer and the ideas which obviously contain a grain of truth in them, it is necessary to mention that fact that the author considers the possibility of enmity between Russia or China and the United States, comparing it to the has-been Cold War experience (Bremmer). Despite the fact that the author reassures that there is no longer any trace of hostility between the countries and that the past prejudices and arguments are long gone, there is still considerable anxiety in BremmerÃ¢â¬â¢s work: China might one day pose a broader military threat than it does now, but its economy has grown so quickly and its living standards have improved so dramatically over the past two decades that itÃ¢â¬â¢s hard to imag ine the kind of catastrophic, game-changing event that would push its leadership to pose a Soviet-scale military challenge to America and Europe (Bremmer). Even though the supposition that the good relationships between the states might finally end is not offensive in its existence, it is still a considerably far stretch. As Cohen and Grinberg explain, the relationships between the USA and China are quite stable at present, since both countries are willingly integrating into the Smart Power, which is Ã¢â¬Å"based on, as Secretary Clinton outlined in her confirmation hearing, the fundamental belief that Ã¢â¬ËWe must useÃ¢â¬ ¦ the full range of tools at our disposal- diplomatic, economic, military, political and cultural Ã¢â¬â picking the right tool, or combination of tools, for each situation.Ã¢â¬â¢Ã¢â¬â¢Ã¢â¬â¢13 In addition, in regard to the topics discussed by Bremmer, the issue of economic globalization should be addressed as well as one of the elements most closely in tertwined with the concept of capitalism. However, it is worth keeping in mind that the threats of the state capitalism as the structure which allegedly is supposed to make the entire world market subjected to the state government and the governmental structure. If taking into account all the factors which shape the world market situation, one must admit that the impact which state capitalism is going to have on the world markets is rather unpredictable and cannot be considered a Ã¢â¬Å"totalitarian regimeÃ¢â¬ a priori. As Kagarlitsky explains, Ã¢â¬Å"attempts to create a state sector may give rise to state capitalism and even to semi-feudal relations, or may remain a pure formality14.Ã¢â¬ Therefore, it can be deduced that Bremmer includes a number of exaggerations in his book, thus, depicting the future of the human race in the darkest ways possible. The given method is, no doubt, extremely efficient for the people to start act and change the course of the history as soon as possible, without letting the dreadful threat take over the world and turn what at present is BremmerÃ¢â¬â¢s suspicion about the future into the exact reality. Hence, one must give BremmerÃ¢â¬â¢s book certain credit for extremely vivid images of the world without democratic economy and the markets belonging entirely to states and the people who are currently at the helm. It can be considered that, in his theory concerning the possible flaws of the capitalistic structure, Bremmer has a point. Therefore, judging by the analysis introduced above, despite the evident drawbacks of the existing structure of relationships between people, either economical, or social, or political, the democratic one is the least flawed and by far the most promising in terms of peopleÃ¢â¬â¢s further development and the growth of the international business relationships which will finally lead to prosperity. Hence, it can be considered that the potential threat which state capitalism poses to the socie ty can still be eliminated. Nevertheless, it must be accepted that the current tendencies in the economical systems of certain countries obviously and willingly accept the fact that have-been free markets are controlled by the governmental structures. Hence, entrepreneurs should strive towards a free economic space which is not dominated by the government. Once reaching complete independency, the world market will be able to evolve. Bibliography A DG Special Report. Outlook for key emerging markets. Virgin Islands, US: Dun Bradstreet Ltd, 2011. Braun, Aurel. NATO-Russia relations in the twenty-first century. New York, NY:Ã Routledge, 2008. Bremmer, Ian. The end of the free market. New York, NY: Penguin Publisher Inc., 2010. scribd.com/doc/81627810/The-End-of-the-Free-Market-Ian-Bremmer Cohen, William S., Greenberg, Maurice R. Smart power in U.S.-ChinaÃ relationships. Ottawa, CA: CSIS, 2009. Grinder, Walter E. Hagel, John III. Ã¢â¬Å"Toward a theory of state capitalism: ultim ate decision-making and class structure.Ã¢â¬ Journal of Libertarian Studies, 1, No. 1 (1977): 59-79. Kagarlitsky, Boris. The twilight of globalization. Sterling, VI: Pluto Press, 2000. Lee, Eddy, Vivarelli, Marco. Ã¢â¬Å"The social impact of globalization in the developing countries.Ã¢â¬ IZA, No. 1925 (2006): 1-26. Mostrous, Yiannis G., Gue, Elliott H., Dittman, David F. The rise of the state:Ã profitable investing and geopolitics in the 21st century. Upper Saddle River, NJ: FT Press, 2010. Swaine, Michael D. AmericaÃ¢â¬â¢s challenge: engaging a rising China in the twenty-firstÃ century. Washington, DC: Carnegie Endowment, 2011. Footnotes 1. Ian Bremmer, The end of the free market (New York, NY: Penguin Publisher Inc., 2010. scribd.com/doc/81627810/The-End-of-the-Free-Market-Ian-Bremmer). 2 Walter E. Grinder John III Hagel, Ã¢â¬Å"Toward a theory of state capitalism: ultimate decision-making and class structure.Ã¢â¬ Journal of Libertarian Studies, 1, No. 1 (1977): 66. 3 Walter E. Grinder John III Hagel, Ã¢â¬Å"Toward a theory of state capitalism: ultimate decision-making and class structure.Ã¢â¬ Journal of Libertarian Studies, 1, No. 1 (1977): 66. 4 Ian Bremmer, The end of the free market (New York, NY: Penguin Publisher Inc., 2010. scribd.com/doc/81627810/The-End-of-the-Free-Market-Ian-Bremmer). 5 Eddy Lee Marco Vivarelli, Ã¢â¬Å"The social impact of globalization in the developing countries.Ã¢â¬ IZA, No. 1925 (2006): 6. 6 Aurel Braun, NATO-Russia relations in the twenty-first century (New York, NY: Routledge, 2008). 7 Michael D Swaine, AmericaÃ¢â¬â¢s challenge: engaging a rising China in the twenty-firstÃ Century (Washington, DC: Carnegie Endowment, 2011). 8 A DG Special Report. Outlook for key emerging market ( Virgin Islands, US: Dun Bradstreet Ltd, 2011), 4. 9 Ian Bremmer, The end of the free market (New York, NY: Penguin Publisher Inc., 2010. scribd.com/doc/81627810/The-End-of-the-Free-Market-Ian-Bremmer) 10 Yiannis G. Most rous, Elliott H. Gue, David F. Dittman, The rise of the state:Ã profitable investing and geopolitics in the 21st century (Upper Saddle River, NJ: FT Press, 2010), 13. 11 Ian Bremmer, The end of the free market (New York, NY: Penguin Publisher Inc., 2010. scribd.com/doc/81627810/The-End-of-the-Free-Market-Ian-Bremmer). 12 Ian Bremmer, The end of the free market (New York, NY: Penguin Publisher Inc., 2010. scribd.com/doc/81627810/The-End-of-the-Free-Market-Ian-Bremmer). 13 William S.Cohen, Maurice R. Greenberg, Smart power in U.S.-ChinaÃ relationships. (Ottawa, CA: CSIS, 2009): 4. 14 Boris Kagarlitsky, The twilight of globalization, (Sterling, VI: Pluto Press, 2000): 53.
Saturday, February 22, 2020
DIGITAL MEDIA PLATFORMS AND EDUCATION - Essay Example However, it is factual that this mode of education is bringing in a lot of transformation to the student life, like coming up with Ã¢â¬Ëon-demandÃ¢â¬â¢ rather than sequential modes of learning (Power, 2010). At the same time, most institutions are still insisting and using the old systems of personal delivery, timetables, and printed books. The mode of transmission from an educator to a student and examinations as a mode of assessment is still in use (Power, 2010). This research aims at uncovering the impact that the digital media revolution has had on education standards and the effects it is having on the old traditional system. The main aim of choosing this topic is due to the viral nature at which digital media is infiltrating the current generation. This is an aspect that is bound to have effects on various realms, with education as a vital factor in the day to day livelihoods. Findings from the research can be used by education stakeholders on a variety of decision making