My Wrist Watch Essay

My watch means a lot to me, and is one of my most cherished possessions which I’ve ever had. It came about on a beautiful day I decided to escort â€Å"shade† my girlfriend to the Mall for some window shopping. That same day was my birthday. I had never celebrated my birthday, and I still didn’t see any reason to do so that day. We checked as many things as we could in most stores, although we had no money to purchase one single thing. We walked into this particular jewelry store which Shade had always talked about in the past. I really had no love for jewelries, so for me, going or not going to that jewelry store, really made no difference at all. Along the line, we ended up at this jewelry store Shade had been talking about. Inside the jewelry store I felt so bored, and gazed into the thin air, like I really had something I took serious notice of; but in reality I was looking through the jewelry and its shelves. At this point I really felt like a soggy cow, forced to the river. Just about ten minutes in this store, my eyes caught sight of this object on the jewelry shelf. About five feet away, it looked so attractive and seemed as pretty as a Mona Lisa painting. Something really made this object outstanding compared to other objects on the shelf. Moving closer, and about a foot away from the jewelry shelf, I could conclude that this glittering object was a watch. From where I stood I could conclude that this watch was manufactured from solid yellow gold bars of about eighteen karat gold and stainless steel. it had about a 40mm case and about a 20mm bracelet. It had this unique feature of having an independent setting for the hour hand, and further featured the date function at the 3 o’clock hour of the face. It also had a crown laid at the 12 o’clock hour, which at that juncture, made me connect with the reality that I was standing in the presence of a brand of an almighty Rolex watch.  Within a split second, one of the sales ladies walked up to me and offered me assistance, but what could she offer me, except for name and the price of the watch, which I immediately asked her for. She let me know the name of the watch was a Rolex Thunderbird, and it would cost me about $800 to purchase it. At that point $800 registered in my brain as two times my monthly rent. All the same the watch still looked to me like it worth more than that amount. Standing close to the door was Shade; she looked like she had been standing there for close to twenty five minutes. I immediately met up with her, and I thought I heard her say she was surprised and thought that I never loved watches. I know I never really loved watches, but there was really something different and special about this watch that could not add up. Shade dropped me of at my apartment and hurriedly left, which was unlike shade that would always like to spend some time with me before leaving. Well for me, that was not a problem, because at the moment, the only immediate problem I had was where on earth I could get $800 to purchase the Rolex watch I saw back there at the jewelry store. As much as I could remember, I never expected Shade to came back to my apartment that night, as I was about to go to bed. But as she came back, this time she came with a birthday gift. Since I knew shade, she had never given me a birthday gift, nor had she ever remembered my birthday. Well on unwrapping the gift, and then opening the black box, there laid a Rolex Thunderbird wrist watch, which was exactly the same wrist watch, I saw at the store much earlier in the day. Nobody had given me a birthday gift in the past 20 years. This was the greatest gift of my life, and which till this day, remains an important piece of my life.

Aes Cost of Capital

International Capital Structure and the Cost of Capital Agenda 1 2 3 4 5 International Capital Structure and the Cost of Capital Analyzing Cost of Capital among Countries Cross Border Listing of Stocks International Asset Pricing Model (IAPM) The Financial Structure of Subsidiaries Case Analysis – AES Corporation 6 International Capital Structure and the Cost of Capital Your Logo International Capital Structure and the Cost of Capital †¢ Firms are becoming multinational in both scope AND in capital structure †¢ Fully integrated financial markets = the same cost of capital both domestically and abroad o If not, opportunity may exists to decrease cost of capital Cost of Capital †¢ The minimum rate of return an investment must generate to cover its financing cost †¢ Firms will undertake projects if the return is expected to exceed the cost of capital †¢ Return = Cost of Capital : value unchanged †¢ Return > Cost of Capital : firm’s value incre ases †¢ Return < Cost of Capital : bad investment Weighted Average Cost of Capital (K) †¢ When a firm has both debt and equity financing, weighted average cost of capital: K = (1-? )K+ ? (1- t)i K = (1-? )KL + ? i(1- t) †¢ (1- ? = weight of cost of capital that is from equity †¢ KL = cost of equity capital †¢ ? = debt-to-total-market-value ratio (weight of total cost of capital that is from debt) †¢ i = before-tax cost of debt capital (borrowing) †¢ t = marginal corporate income tax rate o Interest payments are tax deductible K = (1-? )KL + ? i(1- t) †¢ (1- ? ) = weight of cost of capital that is from equity †¢ KL = cost of equity capital †¢ ? = debt-to-total-market-value ratio (weight of total cost of capital that is from debt) †¢ i = before-tax cost of debt capital (borrowing) †¢ t = marginal corporate income tax rate o Interest payments are tax deductible K = (1-? )KL + ? i(1- t) †¢ (1- ? ) = weight of cost of capit al that is from equity †¢ KL = cost of equity capital †¢ ? = debt-to-total-market-value ratio (weight of total cost of capital that is from debt) †¢ i = before-tax cost of debt capital (borrowing) †¢ t = marginal corporate income tax rate o Interest payments are tax deductible K = (1-? )KL + ? i(1- t) †¢ (1- ? ) = weight of cost of capital that is from equity †¢ KL = cost of equity capital †¢ ? = debt-to-total-market-value ratio (weight of total cost of capital that is from debt) †¢ i = before-tax cost of debt capital (borrowing) †¢ t = marginal corporate income tax rate o Interest payments are tax deductible K = (1-? )KL + ? i(1- t) †¢ (1- ? ) = weight of cost of capital that is from equity †¢ KL = cost of equity capital †¢ ? = debt-to-total-market-value ratio (weight of total cost of capital that is from debt) †¢ i = before-tax cost of debt capital (borrowing) †¢ t = marginal corporate income tax rate o Interest payments are tax deductible Example †¢ K = (1-? )KL + ? (1- t)i o Company is financing 30% of capital by debt (? ) ? So they’re financing 70% (1-0. 30) by equity (1-? ) †¢ Cost of equity capital is 10% †¢ Before-tax cost of borrowing is 6% †¢ Marginal corporate tax rate is 15% K = (0. 0)0. 10 + 0. 30(1-0. 15)0. 06 Example †¢ K = (1-? )KL + ? (1- t)i o Company is financing 30% of capital by debt (? ) ? So they’re financing 70% (1-0. 30) by equity (1-? ) †¢ Cost of equity capital is 10% †¢ Before-tax cost of borrowing is 6% †¢ Marginal corporate tax rate is 15% K = (0. 70)0. 10 + 0. 30(1-0. 15)0. 06 Example †¢ K = (1-? )KL + ? (1- t)i o Company is financing 30% of capital by debt (? ) ? So they’re financing 70% (1-0. 30) by equity (1-? ) †¢ Cost of equity capital is 10% †¢ Before-tax cost of borrowing is 6% †¢ Marginal corporate tax rate is 15% K = (0. 70)0. 10 + 0. 30(1-0. 15)0. 06 Example K = (1-? )KL + ? (1- t)i o Company is financing 30% of capital by debt (? ) ? So they’re financing 70% (1-0. 30) by equity (1-? ) †¢ Cost of equity capital is 10% †¢ Before-tax cost of borrowing is 6% †¢ Marginal corporate tax rate is 15% K = (0. 70)0. 10 + 0. 30(1-0. 15)0. 06 Example †¢ K = (1-? )KL + ? (1- t)i o Company is financing 30% of capital by debt (? ) ? So they’re financing 70% (1-0. 30) by equity (1-? ) †¢ Cost of equity capital is 10% †¢ Before-tax cost of borrowing is 6% †¢ Marginal corporate tax rate is 15% K = (0. 70)0. 10 + 0. 30(1-0. 15)0. 06 Example †¢ K = (1-? )KL + ? (1- t)i o Company s financing 30% of capital by debt (? ) ? So they’re financing 70% (1-0. 30) by equity (1-? ) †¢ Cost of equity capital is 10% †¢ Before-tax cost of borrowing is 6% †¢ Marginal corporate tax rate is 15% K = (0. 70)0. 10 + 0. 30(1-0. 15)0. 06 K = 8. 53% Minimizing weighted average cost of capital(WACC) †¢ Lowest WAC C is obtained when the optimal combination of debt and equity are used †¢ Increases # of profitable capital expenditures o Firm value is increased as long as the return on new projects exceeds the firm’s WACC †¢ Internationalizing the firm’s capital structure helps to decrease the cost of capital Firm’s Investment Decision and the Cost of Capital †¢ A firm that can reduce it's cost of capital will be able to increase the profitable capital expenditures that they can invest in †¢ This results in increasing shareholder wealth †¢ We can do this by internationalizing our cost of capital Factors that affect the WACC Controllable Uncontrollable †¢1 Capital structure policy Proportion of debt and equity †¢ Interest rates Increases cost of debt, may indirectly increase cost of equity †¢ Investment Policy Degree of risk associated with new projects †¢ Tax rates Increase in corporate tax rate decreases cost of debt decreases WA CC Economic conditions Ie. Financial crisis of 2007/2008 Calculating the firm’s equity cost of capital Usually estimated using the Capital Asset Pricing Model (CAPM): †¢ Ri = Rf + ? (Rm – Rf) †¢ Ri: Expected return of security I †¢ Rf: Risk-free interest rate †¢ ? : measures volatility of security i compared to the market portfolio †¢ Rm: Market portfolio Cost of capital in segmented vs. integrated markets †¢ Ri = Rf + ? (Rm – Rf) †¢ In segmented markets, Rm is usually proxied by the S for the United States †¢ In integrated markets, Rm can be proxied using the MSCI World index Cost of capital in segmented vs. ntegrated markets†¦ continued †¢ Same future cash flows are likely to be priced differently in different countries in segmented markets, why? o ? is measured against the domestic market portfolio a this differs from country to country †¢ In fully integrated markets, same future cash flows will be priced the same as ? is now measured against the same world market portfolio Analyzing Cost of Capital among Countries Your Logo Does the Cost of Capital Differ among countries? ? Researches suggest that although international financial markets are not segmented anymore, they are still not fully integrated ? The empirical evidence is not clear-cut If the international financial markets = less than fully integrated, then there can be systematic differences To illustrate that capital markets are less than fully integrated, McCauley and Zimmer (1994) provided a direct comparison of the cost of capital among the 4 major countries: Germany, Japan, UK and US Method: 1. estimate the cost of debt and equity capital 2. compute the cost of funds (weighted average cost of capital) – using capital structure in each country as the weight 3. compute the cost of capital in real terms after adjusting for the inflation rate Effective Real After-Tax Cost of Debt Cost of Equity Debt -to-Equity Value Ratios Real After-Tax Cost of Funds Example – Novo Industri †¢ Produces industrial enzymes and health care products †¢ 1970s, management decided to finance planned future growth of company by entering international capital markets †¢ Danish stock market was small and illiquid – company needed to internationalize †¢ Novo management felt they were facing a higher cost of capital than competitors because of the segmented nature of the Danish stock market Example – Novo Industri Went international by: Increased transparency by presenting financial and technical statements in Danish and English †¢ Cross-listed on the London Stock Exchange, †¢ Listed ADRs (so that US investors can invest in US dollars rather than Danish) The Result: †¢ Novo Industri’s stock price increased while other Danish stocks didn’t Implications of the example Firms operating in small, segmented domestic capital market can gain access to new capit al and lower the cost of capital by listing their stocks on large, liquid capital markets like the New York and London Stock Exchanges. Cross border listing of stocks Your Logo Cross-Border Listings of Stocks †¢ Firms can potentially benefit from crossborder listings †¢ Why? o Gain access to additional sources of capital while lowering cost of capital by increasing investor base o Increase in stock prices due to more demand and trading of the stock Cross-Border Listings of Stocks †¢ Firms seem to prefer to list in neighbouring markets †¢ Why? o Similarities in markets o A â€Å"home bias† Cross-Border Listings of Stocks †¢ Generally, o Potentially expand investor base, which leads to a higher stock price and lower cost of capital lower transaction costs ? improvement in quality and quantity of firm specific information available to investors o Creates a secondary market for the company’s shares and facilitates raising new capital in foreign mar kets liquidity of a company’s stock o Enhance Cross-Border Listings of Stocks †¢ Generally, o Enhances the visibility of the company and it’s products in foreign markets shares may be used as the â€Å"acquisition currency† for taking over foreign companies o Cross-listed o May improve the company’s corporate governance and transparency Cross-Border Listings of Stocks May improve the company’s corporate governance and transparency† †¢ Once companies cross-lists its shares on foreign exchanges (NYSE, LSE), they are required to follow strong disclosure and listing requirements †¢ On average, foreign companies listed on U. S. exchanges are valued ~17% higher Cross-Border Listings of Stocks †¢ Disadvantages o Meeting disclosure and listing requirements can be costly (U. S. GAAP) in overseas markets o Volatility o Foreigners may take a controlling interest in the company and challenge domestic control International Asset Pricin g Model IAPM Your Logo IAPM For understanding the effects of international cross-listings. †¢ assuming cross-listed assets are internationally tradable assets and internationally nontradable assets. IAPM †¢ CAPM: Ri=Rf+(RM-Rf)Bi Bi = Cov(Ri , RM)/Var(RM) =; Ri=Rf+[(RM-Rf)/Var(RM)]Cov(Ri,RM) AMM risk-aversion: Y*=[E(r)-rf]/(A? 2)  » AM is a measure of aggregate risk aversion  » M is aggregate market value of market portfolio =; Ri=Rf+ AMM Cov(Ri,RM) IAPM †¢ Asset pricing mechanism under: †¢ Complete integration – assets are trade internationally according to world systematic risk Complete segmentation – assets are trade respected to country systematic risk. Suppose two countries: Domestic Country and Foreign Country †¢ IAPM Complete Segmentation †¢1 Domestic Country E(R): †¢ Foreign Country E(R): Rg = Rf + AFF Cov (Rg , RF) Ri = Rf + ADD Cov (Ri , RD) Complete Integration Both Domestic and Foreign: Ri = Rf + AwW Cov (Ri , RW) In re alty, assets are priced as partially integrated world financial markets IAPM Partially Integrated World Financial Markets †¢ Internationally tradable assets are priced as if world financial markets were completely integrated †¢ Non-tradable assets will be priced by world systematic risk (pricing spillover effect) and a country-specific systematic risk. o o Spillover effect – externalities of economic activity or processes those who are not directly involved in it. Pollution, technology, even financial markets IAPM Nontradable assets of the domestic country: Ri=Rf+ AwW Cov*(Ri,RW)+ ADD [Cov(Ri , RD)- Cov*(Ri , RD)] Cov* (Ri , RW) Indirect world systematic risk Cov*(Ri,RW) is the indirect covariance between the ith nontradable asset and world market portfolio. Cov(Ri , RD)- Cov* (Ri , RD) Poor domestic systematic risk Cov*(Ri , RD) is indirect covariance between the future returns on the ith non-tradable asset and domestic country’s market portfolio that is ind uced by tradable assets. IAPM implications: 1. International listing (trading) of assets in otherwise segmented markets directly integrates international capital market by making these asset tradable. 2. Firms with non-tradable assets get free ride from firms with tradable assets in sense that former indirectly benefit from international integration in terms of a lower cost of capital and higher asset prices. Effect of Foreign Equity Ownership Restrictions †¢ Restrictions on maximum % ownership of local firms by foreigners †¢ Mexico and India: limited to 49% †¢ Two different classes of equity Chinese firms issue A shares and B shares †¢ Ensuring domestic control of local firms Pricing-to-market (PTM) phenomenon †¢ Constraint is effective in limiting desired foreign ownership eg. Korean firm’s restriction on foreigners is 20% Foreigners want to buy 30% †¢ Foreign and domestic investors may face different market share prices Asset Pricing under For eign Ownership Restrictions †¢ A firm’s cost of capital depends on which investors, domestic or foreign, supply capital. †¢ A firm can reduce its cost of capital by internationalizing its ownership structure. An Example of Foreign Ownership Restrictions: Nestle †¢ Nestle used to issue two different classes of common stock: – Bearer shares: foreigners – Registered shares: Swiss citizens – The bearer stock was more expensive. Nestle An Example of Foreign Ownership Restrictions: Nestle †¢ On November 17, 1988, Nestle lifted restrictions imposed on foreigners, allowing them to hold registered shares as well as bearer shares. †¢ A major transfer of wealth from foreign shareholders to Swiss shareholders. †¢ The total value of Nestle increased substantially when it internationalized its ownership structure. †¢ Nestle’s cost of capital therefore declined. An Example of Foreign Ownership Restrictions: Nestle †¢ The Ne stle episode illustrates: – The importance of considering market imperfections – The peril of political risk – The benefits to the firm of internationalizing its ownership structure The Financial Structure of Subsidiaries Your Logo The Financial Structure of Subsidiaries Three different approaches to determining: 1. Conform to the parent company’s norm – where the parent company is fully responsible for the subsidiary’s financial obligations – not necessarily consistent with minimizing the parent’s overall cost of capital The Financial Structure of Subsidiaries Three different approaches to determining: 2. Conform to the local norm of the country where the subsidiary operates – When the parent company is willing to let its subsidiary default, or the guarantee of obligations becomes difficult to enforce across national borders – Not the optimal one approach (immature nature of local financial markets) The Financial Structure of Subsidiaries Three different approaches to determining: 3. Vary judiciously to capitalize on opportunities to reduce financing costs and risks – Most reasonable and consistent with minimizing firm’s overall cost of capital – Take advantage of subsidized loans Taxes deduction of interest payment – Take advantage of various market imperfections (ex. political risks) CASE: Globalizing the Cost of Capital and Cost Budgeting at AES BRIEF BACKGROUND AES Originally Applied Energy Services †¢ Founded in 1981 †¢ Publically traded since 1991 †¢ In 2003 – Leading independent supplier of electricity in the world – $33 Billion in asset (eg. Power plants, generation facility, other energy related businesses) stretched across 30 countries and 5 continents AES Early Success †¢ †¢ †¢ †¢ †¢ 1983: 1st cogeneration facility is built in Houston, Texas 1988: Net income = $1. million 1991: AES goes public, net income = $42. 6 million 1991-1992: AES initiates international expansion 1996-1998: estimated 80%-85% capital investment is overseas †¢ 2000: Revenue = $4. 958 billion Net Income = $778 million AES Typical Investment Structure AES AES stock price (market cap in 2000 reached $28 billion @ $70/share) AES AES stock price (market cap in 2002 fell 95% to $1. 6 billion @ $1/share AES What Happened? †¢ It's recipe for success (international exposure) became their recipe for disaster o Much of AES' expansion took place in developing countries (there was more unmet demand vs. eveloped countries) †¢ Main factors: o Devaluation of key South American currencies ? Argentine, Brazilian, Venezuelan currency crises o Adverse changes in energy regulatory requirements ? Government mandated energy rationing and competition o Decline in energy commodity prices AES AES ISSUES AES Simple Domestic Finance Framework †¢ 12% discount rate was used for all contract generation projects o al l dividend flows from projects were deemed equally risky ? fair assumption because businesses had similar capital structures o most risks could be hedged in the domestic market AES Same Model was Exported Overseas Worked well initially, when they first expanded to Northern Ireland o had many of the same characteristics as domestic projects †¢ Model became increasingly strained in Brazil and Argentina o Hedging key exposures was not feasible (currency, regulatory.. ) AES SO†¦ AES needed of a methodology for calculating Solution by AES valuation & cost of capital for capital budgeting at AES businesses in diverse locations around the world AES How did AES deal with it? †¢ Rob Venerus, director of Corporate Analysis & Planning questioned whether the traditional CAPM would suffice †¢ He did not advocate the use of a world CAPM o AES owned businesses in poorly integrated capital markets Countries such as Tanzania and Georgia did not have any meaningful capital markets †¢ He did not advocate the use a local CAPM either o AES How did AES deal with it? †¢ So Rob Venerus developed a new model: Step 1 †¢ Calculate the cost of equity using U. S. market data for each of AES' projects o Average the unlevered equity betas from comparable U. S. companies o Relever the beta to reflect the capital structure of each of AES' projects o Cost of equity = Rf + ? (Rm – Rf) AES How did AES deal with it? Step 2 †¢ Calculate the cost of debt by adding the U. S. risk free rate and a â€Å"default spread† o Cost of Debt = Rf + Default Spread o The â€Å"default spread† is based on the relationship between EBIT ratios for comparable companies and their cost of debt. AES AES How did AES deal with it? Step 3 †¢ Add the sovereign spread to both the cost of equity and the cost of debt o this accounts for country-specific market risk, which is the difference between local government bond yields and corresponding U. S. Treasury y ields. †¢ These steps allow AES to calculate a WACC that reflects the systematic risk associated with each project in its local market. AES AES How did AES deal with it? BUT†¦ †¢ Most of these local markets are developing markets where â€Å"access to capital was limited and information less than perfect† –> project-specific risk could not be diversified away †¢ â€Å"Project-specific risk† must be accounted for! AES How did AES deal with it? Example of project-specific risk: †¢ There are 2 hydro plants in Brazil that are identical in every aspect, except for the rivers that feed them. River #1 produces cash flows that vary +/50%, River #2 by +/- 10%. If they are financed by 100% equity, CAPM says they are worth the same. Rob Venerus thought this was unconvincing Seven types of â€Å"Project-specific risk†: 1. Operational/Technical 2. Counterparty credit/performance 3. Regulatory 7. Contractual Enforcement/Legal 4. Construction 5. Commodity 6. Currency Weights estimated from AES' ability to anticipate and mitigate risk. Then given a grade between 0 (lowest exposure) and 3 (highest exposure), multiplied by their weights to yield a â€Å"business-specific risk score† AES Example Risk Score Calculation for Lal Pir Project (Pakistan) Business-specific risk score Used to calculate an adjustment to the initial cost of capital o 0 = no adjustment to WACC o 1 = +500 basis points (5%) o 2 = +1000 basis points (10%) o 3 = +1500 basis points (15%) †¢ Overall (exhibit 8 from case): 1. calculate cost of equity and cost of debt using U. S. market data 2. add sovereign spread to each 3. calculate WACC 4. Add a business-specific risk adjustment to WACC SUGGESTION & RECOMMENDATION FOR AES CORPORATION Suggestion & Recommendation †¢ AES Corporation’s current method of valuing risk is clearly inadequate. Not enough risks were being considered in their model, especially political and economic risks in dev eloping countries that the company expanded to. Under this current model, country-specific risk is also difficult to measure. †¢ This new model to value cost and risk should be implemented by AES. – It gives the company a more realistic projection of the risks that they may face with projects that they take on internationally. – Risks such as political, economic, country-specific and business-specific risks are now considered, where in the previous model they were neglected. THE END THANK YOU! Your Logo

The Effects of Peer to Peer File Sharing on The UK Music Essay

The Effects of Peer to Peer File Sharing on The UK Music - Essay Example The music industry and related associations would not be included in these statistics because research work has shown a great dichotomy (Alejandro, 2005). Experts have been cited as saying that filesharing becomes an illegal activity when copyright material is made available without the permission of the rights holders particularly recording studios in the music industry. In view of this argument, research findings have shown that filesharing involves trading of digital files with other users over the internet causing untold financial suffering to the affected companies and institutions. This act of Peer-to-Peer filesharing has received a widespread adoption and facilitation due to a number of factors. Firstly, the increasing Internet bandwidth and the widespread digitization of physical media files have substantially made home PCs capable of managing digitized audio and video files in a far much better way (Ethan, 2007). This has additionally made it relatively easy to transfer several files from one computer to another across the Internet using various file management networks as observed by Eric (2008). Further observations by Ethan (2007) have revealed that the music industry has repeatedly shown concerns over the potentially devastating impacts of online music sharing. In this regard, the present study has proposed to analyze the effects of p2p f ile sharing on the UK music industry and effectively recommend viable solutions to this heinous act. The first chapter is presented in the sections discussed hereunder. Published works in this area indicate that majority of people across all age groups are currently involved in downloading all forms of information freely from the internet. All sorts of information including copyrighted material are readily made available online by various filesharing websites resulting in adverse financial repercussions to the concerned companies.

Why is a historically significant of US Slavery Essay

Why is a historically significant of US Slavery - Essay Example This is historically significant because it had a long term effect upon the place of black Americans in society right into the mid- 20th century, affecting for instance their rights to vote as full American citizens. Whether or not treatment of Afro-Americans can have ever have been considered humane depends upon your definition of the words ’humane’ and ‘human’. Justifiable Slavery Slavery has been described on more than one occasion as a crime against humanity, 1 but this idea has not always been the prevailing one. When the first Europeans shipped slaves from Africa the practice was already a long established as a norm in society on that continent. The Europeans were merely taking advantage of what was made available to them. Then gradually the trade increased, with traders offering good prices for more and more slaves to work in the newly discovered lands of the New World. It is estimated that some 10 million black Africans were eventually landed and sold on as slaves - this estimate of course does not any account of the massive numbers who died before arrival. It is relatively easy in the early 21st century to believe that slavery is wrong and find it hard to comprehend why people ever thought it was justifiable, especially if one reads the many accounts of the cruelty and horrors which were often involved. It is such stories which tend to stand out, rather than the ones were a slave was an established part of a household and community. There was obvious inequality, unfairness and modern man may feel this was not justified, being unable to fully put themselves into their shoes, but the people of earlier times just did not have the same mind set. Many of those who were slave holders were sincere Christians and could quote the scriptures which apparently backed up their position. This was backed up by their clergy. The Old Testament had laws as to how slaves should be treated e.g. Exodus 21 v 5 which refers to servants who did not want to leave their masters. Deuteronomy 15 v 11 onwards were taken as instructions as how to treat them i.e. pr ovide for them. Verses such as Exodus 21 v 20 were used to justify the beating of slaves. In the New Testament there are verses such as Ephesians 6 v 5 ‘Slaves, obey your earthly masters with respect and fear.’ and Titus 2 v 9 ‘Teach slaves to be subject to their masters in everything.’3 These ideas were not just based upon the Bible, but were generally accepted . Great thinkers such as Aristotle claimed that :- We see what is the nature and office of a slave; he who is by nature not his own but another's man, is by nature a slave; and he may be said to be another's man who, being a human being, is also a possession.4 He does however also say ‘Is not all slavery a violation of nature’, but decides that it is not, on the grounds that some are natural leaders and others naturally subservient. It should be pointed out that this was not racial prejudice, but simply refers to weaker people, perhaps captured in times of war. . Thomas Aquinas, operati ng within a rather different society – one of medieval feudalism, took a similar position – leaders and led.5 Philosopher John Locke in the 17th century was concerned with the way that the British monarchs were treating their people - the British i.e. white people, could not become slaves of the Stuarts he maintained, but on the other hand

Rewrite my essay Example | Topics and Well Written Essays - 500 words

Rewrite my - Essay Example The first of these is that it may be possible for a project to have a concrete starting point but not a predetermined finishing point. As an example, a project to do with rehabilitating endangered animals has some unplanned risks that could delay the project from being completed. In this situation, no fixed end date would be set because it is possible that the project would yet to be completed. Although the Work Breakdown Structure breaks activities down into more manageable tasks, one downside is that some unforeseen circumstances may arise. Let’s say that a project has many problems through on each stage of execution. During the beginning stage, a project may face the difficulty of trying to fix a broken down car in the middle of the highway. In the next stage, a weather problem could prevent an airplane from landing, which would decrease its fuel. In the final stage, a project may face a problem of dealing with the heath of a newborn animal, and this may delay a project further. Therefore, every project can contain many different perspectives that derive from project management. As was mentioned above, we have now increased our knowledge about the positives and negatives of project management concerning any given problem. This background will assist in understanding all the holdups that occur in project management. In addition to this, also to be discussed are the issues that can harm the objective of a mission statement of a company. Understanding the basics of project management helps companies and employees alike to make decisions based on project management techniques. Forecasting can assist in identifying results in terms of scope, scheduling, price, and quality. In summary, we can say that project management is a problem-solving technique that can be used while carrying out research methodology. The benefits of project management for any simulation are listed below: The planning phase of

Business Strategy in Kellogg Company Term Paper

Business Strategy in Kellogg Company - Term Paper Example The main external environment that necessitates firms to develop strategies include the general environment which entails demographic, economic, political/legal, socio-cultural, technological, global and physical trends, the interplay of the industry environment that often impact on the relationship between its customers and suppliers and competitors environment and analysis (Ireland, Hoskisson, & Hitt, 2008:59). Business strategy is a key plan of action for companies after the assessment of the above market factors and business environment and is often aimed at positioning the company, influencing the market balance and exploiting changes in the industry. This paper examines business strategies that have been employed by Kellogg Company and the reasons why such strategies have proved to be successful to the firm. Kellogg Company Business Strategy Kellogg Company is the leading producer of cereal and convenience foods such as cookies, toaster pastries, cereal bars, fruits snacks, fro zen watts, and veggie foods in the world. Kellogg Company manufactures its products in more than seventeen countries and markets them across the world (Kellogg Company, 2012). The core reason for the establishment of Kellogg Company was for the Company to produce high quality, nutritious and great tasting food. The company has made tremendous growth and this can be evidenced by its ever-expanding market share and increased profits. The success can be attributed to the existence of key business strategies that ensures the growth of Kellogg Company amidst increased competition and entry of other players and dynamics of the market. Key Terms Kellogg Vision To be the food company of choice Mission statement To drive sustainable growth through the power of our people and brands by better serving the needs of our consumers, customers and communities. Objectives Encourage and support of among all sectors of the population Use of resources to run and sponsor community programmes for its con sumers and public Increase the association between Kellogg and physical activity Use the cereal packs to communicate the ‘balance’ message to consumers Introduce food labeling that would enable consumers to make decisions about the right balance of food Goals Remain consumer centric Product innovation Priority to win Continuous efficiency improvements Core Competence Baking The Vision and Mission Statements Business strategies of firms can be evaluated based on the design and definition of their vision and mission statements. This is because of the crucial role that vision and mission statement play in current business environment as they convey the aspirations of the organizations. Kellogg Company has exploited this concept and has formulated a vision and mission statements that focuses on sustainable growth of the company, social responsibility, its stakeholders (people) and its brands. Whereas the vision statement of Kellogg Co

Management Essay Example | Topics and Well Written Essays - 1750 words - 4

Management - Essay Example All these are alongside adding challenges for the strengthening the capabilities of the business into competitive edge over competitors. Hence, the information in the referred article provides evidence and learning about the new dimension of sustaining strength across all change, innovation and risk is possible. This new dimension of unification of layers of product and service to generate collective strength is much sounder than the developments in recent past that insisted establishing the footings in different perspectives to remain competitive. Unified system and approach for the management of risk, change and innovation has an added advantage that it offers in the form of shared strength to businesses in dealing with highly competitive pressures. Hence, embracing change does not always require being new but it also required understating the concept of integration and collective wisdom for dealing with challenges (Kepes). Article Two: Hotz, Robert. Differences in How Men and Wome n Think Are Hard-Wired. The Wall Street Journal. 9 Dec. 2013. Online. 14 Dec. 2013. http://online.wsj.com/news/articles/SB10001424052702304744304579248151866594232 The article Differences in How Men and Women Think Are Hard-Wired has important implications for the business and organizational perspective of managing diversity. Management of diversity in the business organizations is still viewed in the light of responsible behavior that organizations are adopting towards society. It is despite fact, that immense benefits of diversity are being generated by the organizations with well blended mix of the employees. The reflection of this perspective is evident from the fact that organizations who take more women in their board room present it as a pride. The article on the basis of assessment has revealed the connection differences in the minds of men and women. This article has emphasizes the on the focused and multitasking attributes of men and women respectively. Both the concepts h ave increased their importance in the organization in recent past. Therefore, diversity management in a way that is calculated for developing the optimum mix of expertise towards focused attention and multi-tasking will now enable business to develop the mix of genders as need of the organization. Hence, with these revelations, the managements of the organization will now have more quantifiable yardstick for the development of employee mix and diversity management in organization. Management of the supply and the value chain is the most important tranche of the business and management literature that has developed since recent past. Forbes published value that is claimed to be generated by Amazon in terms of value chain by introducing the drones for same day delivery (Hotz). Article Three: Banker, Steve. Same Day Deliveries by Amazon Drones? Ridiculous! What Really Makes Sense. Forbes. 3 Dec. 2013. Online. 14 Dec. 2013. http://www.forbes.com/sites/stevebanker/2013/12/03/same-day-del iveries-by-amazon-drones-ridiculous-what-really-makes-sense/ The article entitled Same Day Deliveries by Amazon Drones? Ridiculous! What Really Makes Sense has some valuable contribution in the effective management of the supply Chain. The core idea in the article has identified the critical factor of effective managem

Management of Marketing Channels Assignment Example | Topics and Well Written Essays - 500 words

Management of Marketing Channels - Assignment Example They provide with special services like build-to-order that directly fulfil the demands from production at a low cost. Build-to-replenish and configure-to-order are also included. The company has an excellent supply chain management with low inventory levels that provide to its network spread over 30 countries across the world. Their supply chain management is extraordinarily efficient since it is backed by key performance drivers like inventory management, transportation management, information system and IT integrated systems to provide the right product at the right time and place. Their worldwide supply chain provides cost-effective services available to all. Reverse logistics is yet another innovation that backs their supply chain by pulling out damaged, obsolete or over-stocked products and redistributing them by using disposition management rules to maximize the original lifecycle of the product. Overall, Flextronics provides low cost products worldwide through a very efficien t and effective supply chain management system backed by logistics solutions for maximum customer satisfaction since satisfying the consumer is the primary priority of the company. Venture Corporation being the leader provides an excellent combination of manufacturing and delivering facilities

Min business plan Essay Example | Topics and Well Written Essays - 500 words

Min business plan - Essay Example In this perspective, the cool point gourmet ice cream parlor needs to have an analysis of the market that is available in Vermont. The following areas will be essential in assessing the potential market The market analysis is expressed by the market size through the potentiality of the market and the volume that is characterized in particular potential area of investment. The ice parlor will tend to concentrate Vermont area that constitutes mainly the youth. This will create a huge consumer base. This is because the youth are the main consumers of ice cream. This also makes up the potential market for a business entity. The data for the best area for the best place to invest may come from financial data from major competitor Ben and Jerrys ice cream and customer surveys. What gives the company an upper hand is the enthusiasm and a passion for producing unique, tasty ice cream. This is the part where the team will capitalize on the opponents lack of new variety into the market and introduce variety to the market. This relates to the differences in the market. The differences are in terms of movements either upwards or downwards. The ice cream business is an open market that is by many competitors. However, the business tends to be fair since the investment capital is enormous. Therefore, cool point gourmet ice cream parlor will employ other techniques to lure its customers. The business entity will use discounts, unique packaging and offers in order to lure customers. These actions will help to compete well with other businesses selling ice cream. The business entity will extract information from the past to positively evaluate and predict possible growth of the business in the future. The ice cream business has been found to have an ease of growth. However, the business is dependent on the weather seasons. Its peak is summer whereby it requires only a few weeks to be established. Another

Wynn Las Vegas Business Level Strategy Assignment

Wynn Las Vegas Business Level Strategy - Assignment Example Control procedures are in place. Lastly, a general sensitization will be carried with an aim to improve the work of the strategy. An audit of Wynn Las Vegas resulted in the following (Wheelen, 2008). The marketing strategy audit revealed that Wynn targets high-end customers and its product line is luxury in nature. This kind of strategy is on point for the company however they need to incorporate pricing strategies and promotion practices such as advertisements on the internet. Promotion services are also crucial. Their operations strategy has led to a choice of an advantageous location while its planning and scheduling activities ensure efficient handling of customers. Wynn also needs to include capacity planning to ensure that their full capacity is. There is also need for quality assurance to enable feedback and standards are. Information systems is also a strategic area for Wynn Las Vegas although they have disaster recovery, and information security is maintained business intelligence need to be a notch higher. There should also be in-house experts to help them avert from any disaster. Wynn financial strategy is such that they allow for capital budgeting, and an increase in shareholders returns is observed this means that financial control is, and success is guaranteed. Human resource should include recruitment for entry-level professional and allow for employee training. Innovation in Wynn should be should incorporate rewards for entrepreneurship (Strategy Audit,

A Doll’s House Essay Example for Free

A Doll’s House Essay In his book A Doll’s House, Ibsen explores the ideological struggle of gender roles in a marriage where the wife Nora must maintain a helpless role and the husband Torvald must appear as the sole familial support. Henrik Ibsen has been able to drive this point home very powerfully in A Dolls House. Nora and Torvald, the main characters, belong to an ordinary middle-class family and the stereotypes in gender roles are very obvious and are most prevalent in this milieu. The coming of age of Nora and of women in the fin-de-siecle brought the issue of gender roles in society and the emancipation of women to the fore. The so called tragedy that befalls Torvald is of a private nature but its enactment has implications for the whole society. â€Å"In closing her door on her husband and children, Nora opened the way to the turn-of-the-century women’s† (Finney: 91). The play brings out the hypocrisy behind Torvald’s obsession with keeping up appearances and encouraging Nora to behave in a childish, helpless way to make him feel important and assert his masculine strength. Nora laments the fact that she had remained a doll-child and a doll-wife all her life. She had passively accepted this role to conform to the norms of society. She knew that she was expected to play the role of a pretty â€Å"featherbrained† woman who needed to be petted and taken care of constantly. She realized that neither her father nor her husband had given her enough credit to be a responsible and mature human being and be taken seriously. She knew that the oft repeated plea â€Å"But I cant get on a bit without you to help me† (Dolls House, II) was in effect a result of her utter dependence on her husband; a dependence which was encouraged by Torvald and the society at large. Torvald was protective and caring of Nora but what he actually was trying to achieve was have complete control over her thoughts and actions. He was the mainstay of the family and Nora was the limpet hanging on to his masculine strength and making herself agreeable to him in order to remain in his favor. At the end of the play, the misfortune is more about Torvalds failure to maintain the illusion of his being the most upright, principled and in short, the most perfect man. His realization that he had fallen in the eyes of a woman whom he felt condescendingly about heightens the sense of tragedy. He would often preach to Nora about her lack of principles which she had apparently inherited from her father and reprimanded her by calling her â€Å"a hypocrite, a liar—worse, worsea criminal! The unutterable ugliness of it all! For shame! For shame! †(A Dolls House: III). The unmasking of his own hypocrisy and the ugliness of being exposed to be a petty, judgmental and selfish man makes the audience understand that in spite of all his sermonizing, he was the one who lacked any principles as he was ready to drop everything and forget about the whole incident as soon as his own back was covered. In the final analysis of the ideological struggle depicted in this play, Nora, who was actually happy in enacting her gender stereotype during the beginning of the play and was elevated to a much higher position due to her realization of her identity and the consequent struggle to assert her independence. Nora’s recognition of her transformation from being â€Å"simply your little songbird† to a whole human being with potential to grow to be a woman of more substance is the first step towards her trying to resolve the conflict within her. She also understood that Torvald had always maintained a certain facade with her, which was contrary to his actual being. She says, â€Å"I realized that for eight years Id been living here with a strange man † (Doll House: III) and that steeled her determination to begin from scratch and live up to her potential. At the end of the play Nora appears to be strong and determined to the point of being heartless as she abandons her home, husband and children in quest of her true identity and knowledge of the ways of the world. The topic of feminism in this play deals with double standards and marriage (Finney: 92) A blatant example of this is Torvald’s condemnation of Nora as a â€Å"hypocrite and liar† when in reality it is Torvald who is the biggest hypocrite. His tall words about honor and honesty are shallow and he exposes himself as the small, petty person he is in spite of trying to assert himself in the stereotypical masculine role that society assigned to the male gender. Even the minor women characters in the play that of Mrs. Linde and Anne, the maid, demonstrate strength and fixity of purpose that the male characters Torvald, Dr. Rank and Krogstad fail to display. Ibsen was sensitive to feminine issues and though he himself proclaimed himself a ‘humanist’ rather than a ‘feminist’ his insight into the feminine psyche and his portrayal of women is evident in his memorable plays. He is able to make it clear to the audience that Nora’s helplessness and dependence on Torvald was put on. It became more obvious when we come to know that Nora had actually forged her father’s signature in order to take a loan to get Torvald to Italy in order to save his life. That she was capable of taking such drastic decisions and has the courage to work at copying and repay the loan to Krogstad without Torvald’s knowledge is a clear indicator that left to her own devises she was quite decisive and better at managing crisis than Torvald. In conclusion, it is indeed true that Nora Helmer tried her best to enact the gender role assigned to her by the society. However, when ideological differences arose she struggled to cast off the garb of the helpless little lady and emerged a stronger and more mature person. In the play a clear happy ending was not evident and the audience was left to interpret Torvalds hope for a â€Å"most wonderful thing† as a silver lining to an otherwise grim close to the play.

Introductory paragraph Essay Example for Free

Introductory paragraph Essay There are several weak points in the introductory paragraph. First, the opening sentence refering to humankind’s god-given ability to make choices is too general as a discussion point for decision-making in college. Second, the writer fails to establish coherence in his introduction. For instance, the ideas jump drastically from the â€Å"God-given ability to make choices† to the fact that â€Å"one is faced with a multiplicity of choices† without establishing why the writer thinks that decision-making is â€Å"one of the most splendid – and incommodious – things about the condition of being human. † Thus, the first line could even be ommitted from the introduction as it does not help construct the writer’s thesis in any way. Likewise, the paragraph suffers from too much excitement due to the writer’s fondness for exclamation points. It would also be better if the writer used much simpler words and refrained from using words such as â€Å"ad infinitum† which might not be understood by his or her readers. Lastly, the introduction sounds like a marketing spiel for University with the writer drawing hasty conclusions such as â€Å"I chose university and I could not be happier. † It also has the effect of concluding the essay at the introductory part, making the reader feel disinterested in the â€Å"rewards† that the writer wants to illustrate. On the other hand, this introduction also has its strengths. Aside from the opening line, the rest of the ideas are clearly developed; the writer is able to establish the â€Å"multiplicity of choices† from a simple choice of gum flavor to one’s lifestyle. The writer’s informal style could also be engaging for the characteristics of its audience—young, newly-graduated or about to graduate from high school—as they could identify with the language. Exercise 3 Introductory Paragraph for Assignment 2 Life after high school can be a rude awakening for those of us who have never made a decision beyond what clothes to wear for school or what food to eat at lunchbreak. For the first time, we have to make decisions that would affect our lives seriously, such as which degree to pursue and which university could give us at least a chance at success after we graduate from it. For the first time we have to be careful about the choices we make and to make serious plans about the goals that we have. It is a time to take stock of our capacities and our limitations, to consider parental and societal expectations of ourselves, and to be able to compare these with the right university we wish to attend. It is inevitable—at least for those of us who want to have that degree and to claim our spot in the world after that—although it can be frightening for us to leave the world we have known in high school behind in order to grow as adults and productive individuals. Thus, it is not surprising that choosing choosing which university to attend is one of the most difficult decisions an individual has to make in his or her lifetime.

Human Factors In The Aviation Industry

Human Factors In The Aviation Industry Human factors is one of the most used terms in the aviation industry. It was quoted in the Civil Aviation Authority CAP 715 that aircraft accidents recorded from around the world brought the need to address human factors issues in this environment into sharp focus6. Human factor can be fairly described as a mistakes or error that is cause by a human behaviour. It is also the largest causal factor of accidents and so, it must be targeted for major safety efforts if an improved safety records is to be achieved. From human factor, the concept grew into a more in depth system that helps to improvise the aviation maintenance organization working condition and such a new system are; safety culture and safety management system are being implemented in to organization. Safety Management System Safety Management can be seen as a systematic implementation of Risk management in the planning, control and supervision in the process to ensure safe operations. In a publication by Civil Aviation Authority (CAA) on Safety Management Systems for Commercial Air Transport Operations, CAP-712 it defines Safety Management System as: Safety Management is defined as the systematic management of the risks associated with flight operations, related ground operations and aircraft engineering or maintenance activities to achieve high levels of safety performance. 5 A Safety Management System is an explicit element of the corporate management responsibility which sets out a companys safety policy and defines how it intends to manage safety as an integral part of its overall business. 5 In short, safety management system is the processes and arrangements set by an organization to manage the health and safety issues within an organization and through such a method of using a system to manage those important function in the organization; it can improve the performance of an organization and reduce the risks any accidents. In the aircraft maintenance industry, safety management plays an important role of maintaining the satisfactory work output. Failure in this will cause a list of chain effect that could possibly increase the chances of causing an aircraft accident. For this reason, the Civil Aviation Authorities publish manuals on regards to this matter and one of such is the CAP 712 which focuses specifically on the safety management of the aviation industry to minimize the chances any factors that causes risks. A typical Safety Management Systems found in aviation industry should be made up of 4 key components:7 Safety Policy and Objectives; 7 An organization should have a safety policy that outlines the methods and processes that they will use to achieve a positive result. It should declare the principles and philosophies that lay the foundation of the organizations safety culture and be communicated to all staff thorough the organization. Safety Risk Management; 7 Safety risk management process starts with identification of hazards affecting the aviation industry and by assessing the risk associated with the hazards in terms of its seriousness and similarity to previous cases. When the risks are identified, only then can we make the appropriate implementation of remedial actions to reduce the level of risk as low as possible. Safety Assurance; 7 Safety assurance assesses the safety performance of the organization and this will allow continuous improvement to the organization. Through monitoring, measurement and reviewing the safety of an organization, it is possible to create a safety assurance within the organization and allow a continuous improvement of the safety system. Safety Promotion. 7 Promoting safety in an organization by means of training and educating employees will rather increase their safety responsibilities. This is especially effective for operational staffs, managers, supervisors, senior managers and the accountable manager since they are the ones that are responsible for the main production line of the company. Through training and continued maintenance of competence, it will provide an opportunity to reinforce the safety policy and establish the proper attitudes and behaviours for all levels of staff in the organization. Safety Culture Safety culture can be defined as the product of individual and group values, attitudes, competencies and patterns of behaviour that determine their commitment to the health and safety issues. An organization with a safety culture is one that prioritizes the safety and the importance to manage them to reduce risk. However, a safety culture is more than just avoiding accidents or reducing the number of accidents, but an apparent measure of success in improving the safety of employees within the organization. In the aircraft maintenance industry, it is to do follow the correct procedures when carrying out a maintenance check or repairs. Recognizing that accidents are preventable through following the key to achieving that safety culture is in: recognizing that accidents are preventable through following correct procedures and established best practice; constantly thinking safety; and seeking continuous improvement It is however, rare that new types of accidents to occur and many of those common ones continue to occur are normally due to the unsafe acts of employees, or technicians in these maintenance industry. These errors are usually the violation of good practice of establish rules. Those who make these errors are often aware of their foul actions but to cut a lengthy task short, they normally choose to take short-cuts and this ultimately increase the risk of accidents occurring. The central of a Safety Culture is a leadership that is capable of communicating with everyone in the company as a means of actions and setting a standard to the safety culture. Once everyone in the organization are capable of doing their job in a safe ways and vigilance of the hazardous environment of the maintenance organization, only then can they reach a new standard of safety driven through attitudes. At the same time, as a leader they must actively encourage and demonstrate regularly to encourage all employees to participate in order to achieve a new level of safety. A safety culture in an aircraft maintenance industry should consist of five elements2: An informed culture In an informed culture the organization should collects and analyses relevant data, and actively disseminates safety information to update on their safety management system. A reporting culture Through cultivating an atmosphere where people have confidence to report safety concerns without fear of blame. Employees must know that confidentiality will be maintained and that the information they submit will be acted upon, otherwise they will decide that there is no benefit in their reporting A learning culture In a learning culture, the organization is able to learn from its mistakes and make improvements. It will also ensure that people understand the Safety Management System processes at a personal level. A just culture A just culture, errors and unsafe acts will not be punished if the error was unintentional. However, for those who act recklessly or take deliberate and unjustifiable risks will still be subject to disciplinary action. A flexible culture A flexible culture in the organization and the people in it are capable of adapting effectively to changing demands. Safety Management System with Safety Culture In a term, safety culture lays the foundation of the safety management system which can also be treated as the lifeblood of an organization. The safety culture can influences how well its people and structure work together therefore it can determines how successful an organization can be for the long term and short term period at the same time. Safety culture in a maintenance organisation can be also described as the way it operates and particularly in the way it manages safety. To put it simply, a safety culture influences all important thing that go on in an organization. In order for Safety Management System to accomplish its goals, the organization must first be able to establish a safety culture within the working environment. From the key components that made up the Safety Management System and Safety Culture, it is understandable that why without safety culture, a safety management System will not be effective. The Safety culture elements refers to the work environments, such as values, rules and understandings that influence the employees perceptions and attitudes toward the importance of a safety of the organization. On the other hand, the Safety Management System is the arrangements made by the organization in order to promote a safety culture and achieve good safety performance. Without a Safety Culture the industry will not be able to minimize the risks of accidents with just having a Safety Management System. It is the combine effects of the 2 that create a balance of risk management. The safety culture works by providing the proper analysis of risk faced by the industry and by using this information, the Safety Management System can make arrangement to strengthen the safety culture, for example, the attitude of employees when performing a task can be strengthen if they have beneficial claims if they done the task with correct procedure. Therefore, we can conclude that in order for a Safety Management System to establish in the aviation industry, a safety culture must coexist with Safety Management System. Reprimanding Engineer Reprimanding an engineer is a process where they are judge on their mistakes. However, the chances of that engineer making the same mistakes in the future is very low but if we are looking at a different type of mistakes, it is almost impossible to say that by reprimanding an engineer can actually prevent them from making the mistakes in the future. Even if we reprimand the engineer who is at fault it is difficult to put the blame on him/her as we are well aware of human factors and other factors that plays a role in such situation. Therefore, even if we were to reprimand the engineers for the mistakes, it is not entirely possible to say that they will not make other mistakes in the future. The only way to answer the question is the type of mistakes which is either something that we cant control i.e. human factors, and those that are caused by poor management in the organization. By learning from mistakes, the management team will be able to adjust or improve the working culture so t hat the same mistakes will not every happen again in the organization. The few aspects to that place the engineer in a position where he or she is at fault of the mistakes but the fact reveals that they are not entirely at fault. They are: Working Environment Workload Maintenance Team Working Environment: In the maintenance department of aviation industry, with the ever changing working environment it is hard for engineers to cope with it. The maintenance department will have aircraft going in and out of the hangar every day and it should be able to accommodate the specific type and number of aircraft in the base to carry out the maintenance. If the engineer have been working in a tight space area there are bound to have human errors mistakes going on in the maintenance base. When we talk about working environment, it also includes the environmental issues such as temperature, lighting, noise and tools. In different countries the working temperature can play a role in causing human errors which is can be prevented by having proper ventilation in the working environment. Lighting on the other hand plays an important role because a working environment with poor lighting can also promote poor working environment and expose engineers to make mistakes. Noise levels should be controlled to the point where it will not distract engineer when carrying out tasks such as inspection if it is not practical to control the noise source, engineers should be provided with the proper gear to stop the excessive noise that cause distraction. Working environment also includes the different types of tools that are used for specific tasks. If a maintenance need to carry out a task that requires tools that the maintenance department are not prepared with, engineers might be forced in a situation where they need to improvise to get the job done which include using non-compatible tools to do a job. Workload An increased workload may also be considered to be associated as the cause of the mistakes. Workload can affect engineers psychological and physical performance. With increased workload, the amount of stress that builds up slowly can ultimately cause an unwanted problem to happen. This is a common problem that can be found in most aviation maintenance industry as engineers are constantly asked to accomplish a task within a specific amount of time. If for some reason they are unable to accomplish the task in time, their stress level will rise to a point where they might complete the task without proper inspection of being done correctly. Therefore, engineers are not the only reason that will link them to making mistakes but originated from the maintenance department that schedule the amount of work that needs to be done. Maintenance Team In the aviation maintenance industry, it is common to find that engineers work in a team with a handful of technicians or other engineers to accomplish a certain job. However, it is impossible to judge whos at fault when a problem appears in the task that they performed. As a team, it is not justify putting the blame on 1 engineer that performs the task as a team be it the correct way or not. The issues should be raise up against the whole team in order to maintain a balance in the working culture so that everyone in the maintenance department are well aware of such a problem and will be more vigilance. After such an incident, the management team can set up a system that need all team members to inspect that the task is done correctly and without any problems and reducing the chances of repeating the same mistakes in the future. From the unintentional cause of mistakes, we now move on to discuss on the violation of aircraft maintenance practice. Although most engineers stern from a genuine desire to do a proper job but there are always some that chooses to be the odd ones and decided to violate the practices intentionally and pose as a threat to the aviation maintenance. There are 4 types of violation which can be classified: Routine Violation Routine violations is when engineers believe that procedures may be over prescriptive and decided that they can be violated to simplify a task or commonly known by us as cutting corners, to save time and efforts. Situational Violations Situational violation only occurs due to time pressure, high workload, unworkable procedures, inadequate tooling, and poor working conditions. So in order to get the job done, engineers consider that a procedure cannot be followed completely and again skipped the full procedure. Optimizing Violations Optimizing violations involve breaking the rules for kicks or pleasure. These are often quite unrelated to the actual task. The person just uses the opportunity to show that he is very skillful in doing specific task. Exceptional Violations Exceptional Violations are when engineers have no other options to proceed with a task without violating a few rules. Even if the engineers have no ill intention of violating any procedure but circumstances persists. When an error occurs in the maintenance department, the engineer who last worked on the aircraft is usually consider to be at fault and may be reprimanded and requires to go through some remedial training or simply told not to make the same error again. However, by blaming the engineer who is at fault may not be a positive ways of sending message across the maintenance department since other engineers may be discourage to come clean about their mistakes and cover up their mistakes. Ultimately, through reprimand it deny a safety culture to effectively establish in the maintenance department. Without a safety culture, the engineer will not be aware of the other mistakes and subsequently that engineer will make another mistake. All in all, it is not possible that the engineer will avoid making mistakes since there is always a human limit. So, in order to reduce or prevent errors, the maintenance organization needs to compromise between implementing measure to prevent or reduce errors and making profits. Perhaps the most important of all is to achieve a level of management where engineers have no means of intentionally violates the proper procedure to accomplish tasks. Conclusion In conclusion, human factor is one of the most common factors that cause error or accidents in the aviation maintenance industry. In order to prevent or reduce this risk, organization implemented many new types of safety system and culture to counter this problem. Human factor forces people to make mistakes and mistakes leads to accident, be it a serious or minor ones but the end result will be organization not making any profits. Having that said, since its not possible to avoid human factors in the aviation industry, engineers making a mistakes unintentionally can help the maintenance organization to learn from such an incident and implement new system so that they can reduce or prevent such mistakes from happening again in the future.

Rogers And Hammersteins South Pacific Essays -- Rogers Hammerstein So

Rogers and Hammerstein's South Pacific Works Cited Not Included   Ã‚  Ã‚  Ã‚  Ã‚  In Rogers and Hammerstein's South Pacific, the main theme is racial prejudices. The two main characters, Emile de Becque and Nellie Forbush are faced with these problems as they attempt a relationship. Two other minor characters, Lt. Joe Cable and Liat, are faced with the same dilemma. Both Nellie and Joe Cable have a hard time coping with their own racial prejudices; Joe loves Liat, yet cannot marry her because she is Tonkinese ; Nellie loves Emile, but cannot marry him because of his former Polynesian wife. It is these prejudices that set the state for what might be the most significant scene in the production. In act 2, scene 3, Nellie reveals her prejudices to Emile. I can't help it. It isn't as if I could give you a good reason. There is no reason. This is emotional. It's something that is born in me. She looks to Cable for help in describing what she feels, but he offers no help. Emile tells her that it is not born in her, that it cannot be born in her. Nellie, who is crying, runs off. Emile is left with Joe, who is thinking over his own relationship with Liat. Emile asks him why he and Nellie think that these prejudices are born in them. Joe, giving him the product of his thoughts, tell him "It's not born in you."   Ã‚  Ã‚  Ã‚  Ã‚  It is at this point that Joe Cable begins singing "Carefully Taught," a character song in which Joe is able to vent his frustrations and anger about his own ...

Fire with Fire by Naomi Wolf :: Feminism

Naomi Wolf, author of Fire with Fire, is one of the most well known women in modern feminism. In her commencement speech to Scripps College in 1992, she strongly expresses the unfair treatment of women in today’s society. By focusing on survival and weakness, Wolf relays ways to prevent and eliminate discrimination. She conveys her beliefs by expressing important facts about the way women were treated in past history and the way women should be treated today. Along with this, she expresses that women should stand their own ground and that it is their responsibility to determine their status in today’s society. She compares women and men to demonstrate how society differentiates between the two. Wolf speaks of four areas in which she feels women are discriminated in the most. First, she discusses the differences in how society determines how one becomes an adult. She said that boys become men just by taking on responsibility, and for most men, this could happen at an early age. But for women, society requires that they must first finish school before they are considered adults. This is an example of how society places men above women by allowing men to be seen as adults and have adult privileges. Next, she discusses the fact that men earn more money than women in the workplace. She said, "Women make 68 cents for every male dollar. . . (Wolf, p. 2)." This is another example of how society favors men. Wolf then discusses how men often act superior to women simply for the fact that they are treated better by society. Men have traditionally been the primary breadwinners and have taken care of the family, and, for this, men feel that they can look down on women. Finally, Wolf speaks of the fact that women are expected to keep quite when a problem occurs and not speak up for what they believe in. She says, "We are told that the worst thing we can do is cause conflict, even in the service of doing right" (Wolf, p. 2). Once again society favors men by allowing them to speak up for their rights, but looks down upon women for doing the same thing. Wolf feels that these four areas are what contribute to the weakness of a woman in today’s society. Fire with Fire by Naomi Wolf :: Feminism Naomi Wolf, author of Fire with Fire, is one of the most well known women in modern feminism. In her commencement speech to Scripps College in 1992, she strongly expresses the unfair treatment of women in today’s society. By focusing on survival and weakness, Wolf relays ways to prevent and eliminate discrimination. She conveys her beliefs by expressing important facts about the way women were treated in past history and the way women should be treated today. Along with this, she expresses that women should stand their own ground and that it is their responsibility to determine their status in today’s society. She compares women and men to demonstrate how society differentiates between the two. Wolf speaks of four areas in which she feels women are discriminated in the most. First, she discusses the differences in how society determines how one becomes an adult. She said that boys become men just by taking on responsibility, and for most men, this could happen at an early age. But for women, society requires that they must first finish school before they are considered adults. This is an example of how society places men above women by allowing men to be seen as adults and have adult privileges. Next, she discusses the fact that men earn more money than women in the workplace. She said, "Women make 68 cents for every male dollar. . . (Wolf, p. 2)." This is another example of how society favors men. Wolf then discusses how men often act superior to women simply for the fact that they are treated better by society. Men have traditionally been the primary breadwinners and have taken care of the family, and, for this, men feel that they can look down on women. Finally, Wolf speaks of the fact that women are expected to keep quite when a problem occurs and not speak up for what they believe in. She says, "We are told that the worst thing we can do is cause conflict, even in the service of doing right" (Wolf, p. 2). Once again society favors men by allowing them to speak up for their rights, but looks down upon women for doing the same thing. Wolf feels that these four areas are what contribute to the weakness of a woman in today’s society.

Justice :: essays research papers

Justice Should the strong be required to support the weak? How does society "distribute" wealth among its members? These are the questions. There are three basic sides to this issue. The permissive system entitles individuals to a subsistence income supply for existing as a human. The puritan system requires that people at least be willing to contribute to society in order to receive a subsistence income. Finally, the Individual view holds the property rights of the individual to be sacred: no one may forcibly deprive him of his goods. I will argue for the last alternative. Individualism is an extension of Locke's idea of property rights. An Individualist believes each person owns his own life, the fruits of his labor, and his property. No one may deprive him of these property rights. He is free to act as long as his actions do not interfere with the property rights of others. At this point it is important to define what money is. Money is an exchange of value. Money has value because it represent labor, or value, one has created but not yet used. Money in my pocket is what I have created but not yet consumed. Money is not a natural resource; it does not grow on trees. Men can make money by their physical or mental labor. Do I not, then, have full claim to my earnings? If A discovers a cure for AIDS; it surely was not solely a product of A. Society's framework made the discovery possible: A had to build on previous knowledge; she had to use a laboratory she probably did not own. All of these factors make society a partner in the discovery. Therefore, she does not have the right to all of the benefits of her discovery; she must give up some of her benefits to society at large. It is true that A did not personally create every piece of equipment she used to make the discovery; however, the point missed by in this situation is that property is held by individuals, and A had to exchange value in the form of money to buy or rent the equipment she used. The owners have already been paid for the use of their equipment. Business agreements occur between individuals; there is no entity, "society," that handed her a gift. If A were to have to pay more to "society," then she would, in effect, be paying twice. If a permissivist responds with "but she will get rich selling the cure for a high price while thousands are dying," there are basically two responses.

Softball Paper

The History of Softball PHEC 202 Table of Contents 1. History of Softball 2. How to play Softball 3. Equipment needed to play a game. 4. Diagram of a Softball field 5. Bibliography Page 3 Page 4 Page 5 Page 6 Page 7 Softball is one of America’s favorite pastimes. Softball is now a very popular game that originated in Chicago, but it didn’t become popular over night. The game is said the be invented by a man named George Hancock, by him creating this game it has now become of the most played games in America. In this essay I will discuss the history of softball, the basic rules, and the necessary equipment needed to play the game.Softball was started on Thanksgiving Day in 1887. It all began when a group of men gathered in a gym to hear the score of football game, after the score was announced and all bets were settled one of the men threw an old boxing glove at another man who hit it with a pole. George Hancock, said to be the inventor of the game took the boxing glove and tied it so it would look like a ball, took chalk and drew a diamond on the floor, broke a broom handle to use it as a bat and began to play the first game of baseball. This was also the beginning of softball.Hancock’s game was a smaller version of baseball and was played indoors. Within a week’s time Hancock created an oversized ball and a bat with a rubber tip that he used to play the game. He also returned to the gym to make permanent foul lines on the floor. He then wrote the rules and named the game Indoor Baseball. This new sport quickly became a hit and became international. In the same year, 1897, the Indoor Baseball guide was published, explaining the rules of the game and how to play. Ten years later the game was moved outdoors.It was then known as indoor-out door. This game also caught on very quickly and a set of rules was published for this version of the game in 1889. Although Chicago is the birthplace of this game through the years it took on some mod ification in Minneapolis around 1895. It is said that a Fire Department officer by the name of Lewis Rober Sr. used his versions of the game to keep is men in shape and occupied. It is also said that he had no prior knowledge of Hancock’s version of the game. Rober’s version of the game was played in a vacant lot next to the fire house.In 1896 Rober was moved to a new unit and in charge of coaching another team. This team called themselves the kitten and in honor of their name the game was called Kitten League Ball in 1900. The name was later shortened to Kitten Ball. In 1895 the women’s softball team was formed in Chicago at West Division High School. Although the team was started they did not start competing until1899. As the game grew more popular more people began to pay more attention the women’s game and in 1904 the Spalding Baseball Guide was published.This publication of the rules dedicated a substantial amount of the book to the women’s ga me of softball. In 1933 there was the Chicago National Tournament. This was the first tournament where both male and female champions were honored in the same way. This tournament help lead to the International World Championships in 1965, by allowing women to compete in such tournaments this helped this sport to become international and helped it move on to the Pan-American Games and the Olympics. Softball at this time was now a professional league and contracts ranged from $1,000 to $3,000 dollars per year.In 1980 due to financial hardship the league was broken up. Although the league was broken up softball is still a popular game today. There is now an Amateur Softball that registers more than 260,000 fastpitch softball teams and slowpitch is gradually growing. Although compared to baseball, softball is simple to play and is also played on a smaller scale. There a 9 players on a softball team. The playing field it is divided into the infield and the outfield. The infield is the p ortion of the field which is connected by the bases. Each base is set between 55 and 65 feet apart.When the bases are joined they take on the shape of a diamond and the infield is considered the portion inside the baseline. Outside the baseline but inside the playing field is the outfield. While in a game if the ball goes outside the 1st or 3rd base it is considered a foul ball. If this occurs the runner cannot go to the next base and the batter gets another chance, however if the ball is caught in the air outside the line the batter is then consider out. An official softball game has 7 innings. An inning is when both teams has a had a chance to bat.This is how a game of softball is played. What makes softball different from baseball is the pitch. In softball the ball must be thrown underhand. In order to pitch the pitcher must have both feet on the pitchers rubber and both hands must be on the ball at the start of the pitch. When the pitcher throws the ball it’s going to bat ter. When batting, the team must have the same order of batters throughout the entire game. The batter will stand in the batter’s box which is the box marked with chalk near home plate that a batter must stay within while batting. The batter is onsidered out when and if three strikes are called, a fly ball is caught, or if the batter does not stand in the batter’s box. A strike occurs when a ball is swung at and missed or is called when the ball enters the strike zone and is not swung at all. The strike zone is the area between the batter knee’s and armpits. A fly ball is a ball that is hit in to the air in the infield. If any of these things occur the batter is then out. If that batter hits the ball the next step is running. When running the runner must touch each base. Runners can only over run one base and can be tagged out if they are not on the base.While on base the runner can only run when the ball leaves the pitchers hand. If the runner is on base when a fly ball is hit and caught the runner must remain at their original base and cannot move on to the next base. While running all batters that have made to a base must stay in that order when returning to home plate. Stealing bases are not allowed in softball. A runner is considered out if they are tagged out before reaching a base, if the ball gets to 1st base before the runner, or if the runner runs more than three feet out of the baseline to avoid being tagged out.These are the rules that runners must follow. In order to play this game the following equipment is needed: a bat, when standing next to bat that you are going to use the bat should come to your wrist and it should be light enough for you to swing comfortably. Also while batting a batter may use a batting helmet to protect their head while up to bat. Next is the ball, softballs range from 11 which are used by children ages 10 and under, to 12 inches which are used by everyone ages 12 and above. After the ball is the glov e.The only positions that have a specific glove designed especially for their position is the first base men and the catcher, all other use the same type of glove depending on which hand you catch with. If you use you right hand the most you would put the glove on your left have so you would be able to throw with your right hand and vice versa for the left hand. In this essay I have explained the history of softball, how to play the game and the necessary equipment need in order to play the game. Although the were some hang ups that could have stopped the growth of softball its popularity continued to grow.Softball is still a popular game with millions of people who still play it today. [pic] Bibliography Amateur Softball Association of America (ASA). (2012). Amateur Softball Association of America (ASA). Retrieved October 7, 2012, from http://www. asasoftball. com/about/asa_history. asp History of Softball. (2000). History of Softball. Retrieved October 7, 2012, from http://www. so ftballperformance. com/softball-history/ Lynch, W. (2011, May 26). Rules on How to Play Softball. LIVESTRONG. COM. Retrieved October 7, 2012, from http://www. livestrong. com/article/426838-rules-on-how-to-play-softball/

Competition Bikes Inc. Storyline Essay

To Vice PresidentThe sideline is a compendious report to exhort whether emulation Bikes should change its traditional exist mode to employment base termsing, and an abstract of the checkeven bloom with regards to gross revenue wholes and dollars for twain CarbonLite and titanium wheel arounds. It also discusses the impacts to the cleaveeven compass point. The personify-volume- improvement evaluation and the traditional vs activity based wooing order bash analysis were utilized for the review and analysis.traditional establish embody vs act found CostingTraditional Based Costing Method (TBC). TBC uses one rate, the overall(a) speak to of come back, to estimate cost based on the revenue returnion created. Unlike first rudiment, manufacturing be in TBC atomic number 18 only appoint to interchange merchandises and do not discover for nonmanufacturing cost such as administrative be. This method is general not as accurate as first principle as it does not account for cost specifics to the aim of reapings. For disceptation Bikes, the caller thunder mug sympathize its manufacturing overhead is $239,020 for the titanium oscillations, and $232,380 for the CarbonLite bikes for a make out of $471,400 in overhead costs. This doer the building block cost for individually is $713 for atomic number 22 bikes, and $1359 for the CarbonLite bikes.Activity Based Costing Method (ABC). ABC determines and allocates cost by activities a caller-out executes. This generally happens in four locomote identify distributively activity and its associated costs, both sum of money and in choose estimated cost driver and quantity allocation computation and cost allocation to the respective activity. ABC refines the flair indirect costs argon allocated to production and focuses on the costs of for each one separate activity. Costs are also elevate assigned to each product inside the activities and each activity has its own cost driver. B ecause of thespecificity, active based costing provides a more accurate picture of the depend satisfactory costs. Direct material (DM), and direct comprehend (DL) are the alike(p) for each bike in using TBC or ABC.However, in using ABC, the attach to john break out the manufacturing overhead into factory setups, look operate, engineering serve, product movements, utilities and services, and depreciation. The total for each bike using the ABC method is $590,715 for si bikes, and $729,985 for CarbonLite bikes. Although the total is still the same $471,400 in overhead costs, the ABC method allows contention Bikes to see that the atomic number 22 bikes deprecate frequently faster than the CarbonLite and that it takes more utilities and services to make those bikes. Factory setups and quality control are much higher for CarbonLite bikes than those for te ones. Per whole, the atomic number 22 Bikes cost $656 each and the CarbonLite bikes cost $1460.Recommendation.It is recom mended to use ABC to determine confessedly costs associated with activities and products. This allow for give the family more accreditledge of its finances and spending and in return by see a clearer picture of costs, make disclose decisions on funding and budget, and gain cost conservations. Activity based charge in Competition Bikes can use ABC to make decisions that ontogenesis profits turn still meeting customer needs. apprehension where costs are going allow protagonist Competition Bikes to remove unessential costs and set fair cost for the products. Overpricing products causes a lost in trade sharing while underpricing products diminishes revenue. Better prices for consumers symbolises more business for the conjunction.With activity based costing, Competition Bikes go out be able to determine the optimum sales units infallible with the sales mix of 9 titanium bicycles generated for every 5 CarbonLite bicycles that go away produce the bikes at San Dieg o at breakeven. The telephoner pull up stakes also be able to measure activities on a regular undercoat to reduce future costs as well. Evaluating activities and setting sales prices are soften of value engineering. Currently the company thinks it costs $1359 to make a CarbonLite bike and draw set the interchange price accordingly. In reality, the bikes cost $1460 to make. With a $101 difference, the company may want to ad tho their selling price in future months. victimisation ABC also allows the company to use the Just in Time (JIT) body. This governance allows ensures materials are purchased just in epoch to produce the products, and products are completed just in time for delivery. JIT uses the demand-pull system to gravel the order, schedule production, delivered materials, and finished product delivered to the customer. This lessens the quantity of excess parts and inventory saving the company money as well.Breakeven augurThis analysis will evaluate the breakeven point for Competition Bikes Inc. gross revenue units and sales dollars will be identified for the breakeven point. These sales units and dollars will be broken dash off surrounded by CarbonLite and Titanium bikes.The breakeven point is utilize my companies to come about loss. The Cost Volume Profit (CVP) is the spear in which to capture the breakeven point. Sometimes it is referred to as the breakeven analysis. The CVP assists the company in identifying future carrying out need, production costs, and expansion possibilities based on estimating costs, prices, and volumes. This profit response can help Competition Bikes determine the amount of essential sales, what products to manufacture, pricing policies, marketing strategies, and how much profit is actually needed. In this analysis we will assume that the doctor and inconsistent costs remain constant, and that the number of units produced equals the number of units the company sells.CVP is defined by the equation tote up tax incomes inwardness Costs = Profit. The breakeven point is the point in which the CVP equals zero or, taxs Expenses = 0. Meaning, the revenues cover all the costs, unbending and variable. Therefore, the CVP can be kick upstairs broken down into get along Revenue Total Fixed Costs Total variable star Costs = Total Profit.The division brim is then identified by Total Revenue Total variant Costs (leaving out the contumacious costs). office edge is important to identify the differences in each products profits. For Competition Bikes, the region allowance account for the Titanium bikes is $900-$679=$221. TheCarbonLite Bikes yield $1495-$1384=$111 each. Using the 450 Titanium bikes and 250 CarbonLite bikes exchange, the total unite contribution molding for Competition Bikes is $127,000. Thats broken down like this Titanium Bikes contribution margin of $221 per unit, 450 units equals $221*450, or $99,450. CarbonLite bikes contribution margin of $111 per unit, 250 units equals $27,750. plowshare margins $99,450 + $27,750 = $127,200 Total parcel Margin.To determine the profits in more detail, we use the equation (Selling Price (per unit) * cadence Sold) (Variable Costs (per unit) * measurement Sold) Fixed Expenses = Breakeven betoken (Zero). The quick-frozen costs are the units sold * the plodding intermediate contribution margin. The heavy bonnie contribution margin is used to find the breakeven point and is essentially the number of contribution margin amounts per unit. The equation is Total Contribution Margin / Total Quantity Sold. For Competition Bikes, our combined weighted average contribution is $181.71. Thats $127,200/ 700 units sold (450 Titanium and 250 CarbonLite bikes) = $181.71.To establish the breakeven point, we also need to k direct the combined revenue and costs as well. So we calculate total revenue as the following. Titanium bikes are $900 each and 400 units sold, equals $405,000. The CarbonLite bikes are $14 95 each and 250 sold which equals $373,750. Combine the $405,000 + $373,750 = $778,750 Total take over Revenue.The variable costs for each are Titanium bikes $679 in costs, 450 sold, which equals $305,550 or $679*450 = $305,550. CarbonLite bikes $1384 in costs, 250 sold, which equals $346,000, or $1384*250= $346,000. The two together, $305,550 + $346,000 = $651,550 Total Combined Variable Costs. The total combined margin can also be calculate by taking $778,750 subtracting the $651,550 and it equals the same $127,200 Total Combined Margin we calculated earlier. We use this as a check and balance system here.To determine the breakeven units, we look at the icy costs and weighted average contribution margin discussed earlier. The flash-frozen cost for the company is $400,000. Divided by the weighted average contribution margin181.71, we get the breakeven units for the product sales mix of 2201.The contribution margin ratio is the percentage of contribution margin to revenue. To f ind the contribution margin ratio, we tell the total combined margin by the total revenue. This tells us by how much the price per unit exceeds the variable cost per unit. In this scenario, Total Combined Margin $127,000 divided by Total Revenue $778,750 which is .163, or $127,000 / $778,750 = .163 Contribution Margin Ratio.Since the bikes are not equal, we moldiness calculate a product mix in amplification to the weighted average. Using the weighted average, we can calculate the breakeven point in a proportionate way using sales units and sales dollars. For sales units, we take the breakeven units for the product sales mix and multiply it by the ratio of units sold divided by the total number of unit sold. So for Titanium, the sales units at the breakeven point is 450 / 700 * 2201, or 1415 units. For CarbonLite, 250 / 700 * 2201 = 786 units.To calculate the sales dollars, we multiply the sales units by the sales price. In this instance, Titanium is 1415 units cypher by $900 cost for each unit or, 1415 * $900 = $1,276,500. CarbonLite is 786 units multiplied by $1495 price for each unit, or 786 * $1495 = $1,175,070. The combined total sales dollars is $2,451,570To break even, the profit must be zero. Gains and losses are equal. For Competition Bikes, the breakeven point is 1415, or $1,276,500 in Titanium bikes, and 786 CarbonLite bikes, or $1,175,070.Impacts of the Breakeven PointA2b. Based on an evaluation of cost-volume-profit, Prepare a summary report that describes the impacts to the breakeven point if company focussing needed to ontogenesis the cost of direct materials by 10% cost increase and needed to add $50,000 in fixed costs to the production facility.Company management has asked for a report on the impacts of increase thecost of direct materials by 10% and fixed costs by $50,000 in relation to the breakeven point. The contribution margin and weighted average are based in part on direct materials, or variable costs. Raising the costs by 10% is e poch-making and will clear a great impact on the company.Total Revenue is $778,750 and variable costs now $681,800. This increase is broken down by variable cost per unit to $709 for Titanium bikes, and $1551 for CarbonLite.The Contribution Margin per unit is now 191 and 44 respectively baleful the total combined contribution margin to $96,950. CarbonLite bikes contribution margin decreased from $111 to $44 per unit, over a 60% decrease. mensural by dividing the Total Combined Contribution Margin $96,950 by the Total Units of 700, the 138.50 weighted average contribution margin per unit also dropped by 24% from 181.71. This shows how significant a 10% can be to the contribution margin. Ten percent in one area can mean much larger impact in other areas.With an increase in fixed costs to $450,000 that now brings the breakeven units for the product sales mix to 3249. We calculate this by $450,000 fixed costs divided by the cast down weighed average contribution margin 138.50. This continues to change numbers as we calculate sales units and sales dollars. Titanium bikes sales units are 450 units divided by 700 total units, multiplied by the weighted average 3249 for 2089 units. CarbonLite bike sales units are 250 units divided by the 700 total units, multiplied by the weighted average 3249, totaling 1160 sales. Sales dollars are calculated as Titanium bikes 2089 units * $900 = $1,880,100 and CarbonLite bikes as 1160 units * $1495 = $1,734,200 for a total $3,614,300.The breakeven point is now increased. Sales for Titanium bikes is now up to 2089 units, or $1,880,100 and CarbonLite bikes up to 1160 units, or $1,734,200. By face lift direct costs 10% and fixed costs 13%, Competition Bikes now has to sell 674 more Titanium bikes, and 374 CarbonLite bikes to break even. Thats a 48% increase.Based on this analysis, it would be in Competition Bikes best interest to try to keep costs low. Variable and fixed costs show that a small increase can significantly impact t he companys breakeven point. Variable costs have a higher impact than fixed costs. Direct costs per unit should be specifically addressed in decrease costs as well as increasing sales.