International Marketing Essay Example | Topics and Well Written Essays - 500 words

International Marketing - Essay Example This was actually a result of proper planning which was influenced by the previous experience that the company had in Japanese market. In 2002 eBay had to withdraw its operation from Japan and it was a result of lack of proper planning. Cultural and social environment is one of the most important factors especially when business is done in the international market. However it is more important while a traditional product or service is marketed as compared to any online product or brand like eBay. In order to achieve success it is very important for the companies to modify their products and offerings according to the needs and demands of the customers. Like any other successful company, eBay has also modified its offerings. In 1998 the company launched an online automobile website where customers can buy or sell real cars. Before launching this site company realized the increasing demand of such a site where people can deal with real cars. Moreover PayPal was purchased by eBay with the objective of providing better payment options to the customers. Pricing is another crucial factor in order to stay ahead in the competition in the international market. eBay, when started did not charge any money for any auction, but with the increasing popularity they also started to charge a small amount as fee. eBay designed its pricing policy considering the demand of its customers throughout the world. It is very important to reach the target customers properly; as a result organizations always try to form an effective distribution channel. An online company like eBay do not has traditional distribution channel. It reaches it’s customers through the internet. People can purchase or sell various products by accessing internet from any where in the world. So, it can be said that internet is the main distribution channel for eBay to reach to its global customers. Promotion is another crucial factor for increasing awareness about the

Economics and Global Business Essay Example for Free

Economics and Global Business Essay A) Elasticity of demand is describes as the degree of percentage change in demand for a good or service due to variation in price. Elasticity measurements can be expressed by three types of demand; inelastic demand, unit elastic demand, or relatively elastic demand. To determine the percentage of change in demand for a product or service the price elasticity equation and coefficient are used. The coefficient Ed is defined as â€Å"the percentage change in quantity demanded of product divided by the percentage change in price of product X† (McConnell, Brue, Flynn, 2012, pg. 76) The three expressions of Ed are Elastic, Inelastic, and Unit Elasticity. Elastic demand occurs â€Å"if a specific percentage change in price results in a larger percentage change in quantity demanded† (McConnell, Brue, Flynn, 2012, pg. 77). For a product with inelastic demand Ed 1. An example of elastic demand is when there is a 2% decrease in the price of chocolate that results in a 6% increase in quantity. Ed= .06/.02 = 3 Inelastic demand occurs â€Å"if a specific percentage change in price produces a smaller percentage change in quantity demanded.†(McConnell, Brue, Flynn, 2012, pg. 77) For products with inelastic demand Ed 0 .Inferior goods are goods that yield a negative income elasticity, Ei 0. As consumer incomes increase, demand and purchases of these foods decrease. Examples of inferior goods are bus tickets, consignment clothing, and retreaded tires to list a few. D) Demand of a product will be elastic when there is a higher number of substitute available. This happens because consumers can easily swap one product for the other based on price. An example can be the purchase of soda. A consumer can go to the store to buy Pepsi but arrive and find a sale on Coke and buy Coke instead. The variety of soda a consumer can chose, makes the demand for Pepsi highly elastic. The same rule applies for inelastic demand of a product. If there is a limited number of substitute goods available the product or service is highly inelastic. An example would  be medical procedures or surgery. The alternative to surgery are very few, making medical procedures or surgery inelastic. E) The proportion of Income devoted to a good or service effects the elasticity of demand for that good or service. For goods that are of a higher proportion of income, a 15% increase in price would make the good highly elastic. But for goods that are of a lower proportion of income, a 15% increase in price would only slightly change the demand, making them lower in elasticity. An example would be a car priced at $13,000. If there is an increase by 15% the car now costs $14,950. This increase in price requires more of the consumer’s income making them highly elastic. Another example of how proportion of income devoted to a good effects elasticity of demand, is a pair shoes that cost $20.00. If there is a 15% price increase on the shoes, they now cost $23.00. The increase in the price of the shoes requires about the same proportion of income that the original price required. The lack of major proportional change to income makes the shoes elastic. F) Time is a factor that effects consumers demand elasticity of a product. â€Å"Short-run† demand for a product is often more inelastic than â€Å"long-run† demand since consumer have less time to find an alternative and normally don’t feel the effects of a price increase until â€Å"long-run.† An example would be an increase in the price of salmon. â€Å"Short-run† demand of Salmon is more inelastic since the effect if the price increase hasn’t been felt drastically by consumers. But, in the â€Å"long-run† demand for salmon will decrease making it more elastic as consumers find alternative to salmon. G) 1) Elastic demand range occurs when total revenue can be increased by decreasing price. The range for elastic demand on the graph is between $80 and $50. Total revenue increases as the price decrease. 2). Inelastic demand range occurs when total revenue can be increased by increasing price. The range for inelastic demand on the graph is between $40 and $0. Total revenue is decreasing as the price decreases. 3). Unit elastic range occurs when a  percentage change in price results in the exact same percentage change in quantity. When the price changes it does not affect total revenue on the graph. The unit elastic range for the given graph is $50-$40. References McConnell, Campbell R., Stanley L. Brue, and Sean Masaki Flynn. Elasticity. Economics: principles, problems, and policies. 19th ed. New York: McGraw-Hill/Irwin, 2012. 76-77. Print.

Poetry Of Nature :: essays research papers

Many poets are inspired by the impressive persona that exists in nature to influence their style of poetry. The awesome power of nature can bring about thought and provoke certain feelings the poet has towards the natural surroundings. If you bear in mind the disposition of some of the things in life that move us like human beauty, love or the beauty of nature you will understand that they have one thing in common. They do not last forever, as sad as it seems, Ladies and Gentleman. Yes they too will eventually die out. Why? Who knows? However it is a fact that when poets write a poem they wish to make their words appealing, as to impress the reader with the intensity of their own experience so they immortalize that sense of feeling that makes their poems last. Wordsworth’s poem, â€Å"Nutting† is a classic portrayal of a man finding time to escape the harsh bitterness of life and escaping to a world of isolation, solitude and loneliness that exists in nature. I’d particularly like to focus on the second part, which has a greater significance in regard to nature, then the other part, which might appear irrelevant. In demonstrating the use of descriptive features Wordsworth has created the perfect sanctuary that one can only ever dream about. The wording used in this section is uncomplicated and evocative. Common language served Wordsworth’s purpose well, for the simple words were direct in their purpose. They expressed feelings that had been known and repeated many times before, and therefore contained a certain durability in his speech. And I saw the sparkling foam, And-with my cheek on one of those green stones that fleeced with moss, under the shady trees, lay round me, scattered like a flock of sheep In this poem there is much evidence that expresses his loneliness, solitude, and isolation to the rest of the world at that moment in his life. And fade, unseen by any human eye; where fairy water-breaks do murmur on forever; It is obvious that through this perception Wordsworth is generally speaking of past experiences. Wordsworth believed that nature played a key role in spiritual understanding and stressed the role of memory in capturing the experiences of childhood. His poetry just like his beliefs relays a sense of feeling towards aspects of spiritual understanding.   Ã‚  Ã‚  Ã‚  Ã‚  I felt a sense of pain when I beheld the silent trees, and saw the intruding sky.

Waking Ned Devine

A utilitarian would say to do it because having that money would bring them more leisure, but a ethnologist would say that they must not commit fraud in order to get the money because that would be lying and according to the categorical imperative we should never lie. The second categorical imperative comes into play as well because it would be using a human as a means to an end rather than an end in itself (although with Ned being dead, one could have an argument that that doesn't come into play).Jackie makes the decision to lie because he has a dream and he believes that Ned has come to him and wants him to have the money. Cackle and Annie, as well as Jackie and Michaels friendship both fall under Aristotle category of friendship based on goodness. In both friendships, each person wants what Is best for the other person, and all things are shared with each other. Both Jackie and Nannies marriage and Jackie and Michaels friendship include benefiting from the other and pleasure from the other's company, but they have that important thing where each wants to help the other reach their tells.This is shown in the case of Jackie and Annie when Annie finds out Jackie and Michaels plan to get he money. She is upset because she doesn't want Jackie or Michael to go to Jail for fraud. She doesn't think that will be what is best for either of them. The amount of winnings matters to Annie because when she finds out how much money it actually is she realizes how much It can help themselves, and the whole town.I think that the moral significance of the act does change when Cackle Includes the whole town, because rather than being selfish and keeping It all, he Is helping the whole town and I do believe that is what Ned would have wanted. He Is attached to he town and would have been more than happy with what Jackie and Michael ended up doing with it. Although, if a ethnologist were to look at the situation, there's no way they would change their position, because lying is l ying, and that is wrong.This fits perfectly into the situation where Kant says you should tell the truth even when you want to lie, and only then are you truly free. The mean old women is a character that always seems to be looking for ways to get what she wants at the expense of others. She tries to get two loaves of bread for Alfa price, she tries to get her toaster back without paying for it, and finally she threatens Jackie, Michael, and Annie by saying that she will call the office of the lottery If she doesn't get more money.I think that the priest Is right to be worried of what will happen to the town with all that money because these people have lived simple lives for so long, that who knows what will happen when they come into money like this. It ends up looking like noticed that was an immediate change after they were sure of getting the money is when Fin promises Maggie to quit pig farming even though he claims to like it. If everyone stops their farming, what is going to happen to the village?Ultimately, yes, I think that Maggie does make the right decision when she chooses not to collect all the money for her son. When living in a tight knit community like that, everyone seems like family anyways. And like Jackie tells her, having a father is worth more than any amount of money, and if she were to claim the money for her son, Fin would have to continue pig farming and her son would still not have a father. As far a Aristotelian ethics goes, I think she climbed a bit on the hermeneutic circle and became a better person.

How does Jane Austen show her views on the marriage conventions of the nineteenth century Essay

First published in 1813, Pride and Prejudice has consistently been Jane Austen’s most popular novel. It portrays life in the genteel rural society of the day. Jane Austen is considered by many the first real novelist, she had a very unique style of writing when she wrote all of her books, this is what I believe appealed to her readers, the style that she used was described as ‘comedy of manners’. The comedy of manners satirizes the manners and affectations of a social class, often represented by stock characters, such as Mr. Collins. It has been the blueprint for romantic fiction in the writing world. Marriage is a pivotal theme in Pride and Prejudice, the conventions were different in the nineteenth century they were expected to marry for their own financial security. They also had to be married to a higher ranked man but within the same range of class, for example in the book when Charlotte Lucas marries Mr. Collins, they did not love each other but it suited them both to marry. Charlotte Lucas wanted a husband who could financially support her and Mr. Collins was on the hunt for a suitable young wife. He already had asked his cousin and main character in the book Elizabeth Bennet to marry him, she reluctantly disagreed but her mother was not concerned about her feelings, Mrs. Bennet wanted to see all her daughters married Austen uses a lot of different techniques through out the book, she uses a range of satire which is a form of humour where the writer or speaker tries to make the reader or listener have a negative opinion about someone, by laughing at them, making them seem ridiculous or foolish etc. Jane Austen also uses a lot of irony in this book it is a form of humour. When the speaker or writer says one thing but wants you to understand something different, they are being ironic, and example in the book would be where Mr. Bennet has a conversation with his wife about Bingley, he is a very satirical and ironic character because of his extreme politeness and playful innocence, which in result upset Mrs. Bennet. That provides humour for the reader as a result of her dramatic character. Mrs. Bennet’s character is not ironic in the least, but it is the blending of both characters that bring about the irony. Such foils points out to the readers the ridiculousness of human nature. One empathises with Mr. Bennet; his suffering and dissatisfaction is shown through his desire for privacy, his cynical view of mankind, irresponsibility towards his daughters and his indifference, resentment and sarcasm towards his wife. It is a truth universally acknowledged, that every man in possession of a good fortune must be in want of a wife. However little known the feelings or views of such a man may be on his first entering a neighbourhood, this truth is so well fixed in the minds of the surrounding families, that he is considered as the rightful property of some one or other of their daughters. These lines can be read as a statement of fact, Austen is saying that this is just how her contemporaries think, and it is very likely that many of her readers have nodded their agreement to this wise recognition. There is also a sense, however, that such a widely-held view runs the risk of stupidity: some men in possession of a good fortune may see no reason at all for taking a wife, and in any case are not likely to enjoy being viewed as a prize by mothers of eligible daughters. In Pride and Prejudice this is indeed how Mrs Bennet will treat Mr Bingley, and her insensitive presumption begins the novels comedy. Mrs. Bennet has a certain attitude towards marriage; I think Austen wrote Mrs. Bennet in to the story as someone who she is the total opposite too. I think Jane Austen expresses herself through Elizabeth in this novel, she saw herself as a revolutionary woman. In the words of Mrs. Bennet â€Å"If I can see one of my daughters happily married at Netherfield†¦ I shall wish for nothing more,† in this quote she is implying that she does not care about her daughters happiness, mainly for hers. She disguises it very well though, it is made out that she wants what is best for her daughters but she wants her own fortune when she is older. Mr. Collins’ attitude is to get married to a presentable woman in his standard of class. He firstly asks his cousin Elizabeth to marry him, she says no, but he continues to insist, finally he gets the point and asks her best friend to marry him. Mrs. Bennet wanted her daughters married and tries to encourage Elizabeth. Charlotte Lucas (Elizabeth’s best friend) accepts his proposal. I think that Mr. Collins asked Charlotte because I think he may want to make Elizabeth envy them. The quote I choose to make my point with is from chapter 19 and reads â€Å"May I hope, madam, for your interest with your fair daughter Elizabeth, when I solicit for the honour of a private audience with her in the course of this morning? Before Elizabeth had time for anything but a blush of surprise, Mrs. Bennet answered instantly, â€Å"Oh dear! -Yes-certainly. I am sure Lizzy will be very happy-I am sure she can have no objection, Come, Kitty, I want you upstairs.† And, gathering her work together, she was hastening away, when Elizabeth called out: â€Å"Dear madam, do not go. I beg you will not go. Mr. Collins must excuse me. He can have nothing to say to me that anybody need not hear. I am going away myself.† â€Å"No, no, nonsense, Lizzy. I desire you to stay where you are.† And upon Elizabeth’s seeming really, with vexed and embarrassed looks, about to escape, she added: â€Å"Lizzy, I INSIST upon your staying and hearing Mr. Collins.† Elizabeth would not oppose such and injunction-and a moment’s consideration making her also sensible that it would be wisest to get it over as soon and as quietly as possible, she sat down again and tried to conceal, by incessant employment the feelings which were divided between distress and diversion. Mrs. Bennet and Kitty walked off, and as soon as they were gone, Mr. Collins began.† Charlotte Lucas married Mr. Collins, I think her attitude is to be financially secure, I also think she is a little envious of her best friend Elizabeth. I think this quote portrays just that â€Å"The Bennets were engaged to dine with the Lucases and again during the chief of the day was Miss Lucas so kind as to listen to Mr. Collins. Elizabeth took an opportunity of thanking her. â€Å"It keeps him in good humour,† said she, â€Å"and I am more obliged to you than I can express.† Charlotte assured her friend of her satisfaction in being useful, and that it amply repaid her for the little sacrifice of her time. This was very amiable, but Charlotte’s kindness extended farther than Elizabeth had any conception of; its object was nothing else than to secure her from any return of Mr. Collins’s addresses, by engaging them towards herself.† Elizabeth has a very strong personality she is independent, and very strong headed. There are many quotes that I could select for this, but my selected quote would be â€Å"You are mistaken, Mr. Darcy, if you suppose that the mode of your declaration affected me in any other way, than as it spared me the concern which I might have felt in refusing you, had you behaved in a more gentleman-like manner.† I chose this quote because this shows that she does not marry just for money, it is a very respectable deed. Darcy is a very arrogant and rich man; he seems to have a very odd relationship with Elizabeth. He is almost perfect in the eyes of a woman; he was rich, handsome, clever and witty. â€Å"And taking her hand, he would have given it to Mr. Darcy who, though extremely surprised, was not unwilling to receive it, when she instantly drew back, and said with some discomposure to Sir William- â€Å"indeed, sir, I have not any intention of dancing. I entreat you not to suppose that I moved this way in order to beg for a partner.† This quote shows how arrogant Darcy is. In conclusion I think that Austen’s final message regarding marriage is that one should not marry for money, but marry for love. She portrays herself in my opinion through Elizabeth and Darcy was a dream couple.

X-ray interactions with matter Essay Example

X X-ray interactions with matter Paper X-ray interactions with matter Paper This document presents the interactions of x-ray with matter. It talks about the five types of x-ray interactions with matter, photoelectric absorption, compton scattering, pair production, coherent interaction, and photodisintegration. Each of this x-ray interactions are discussed in a manner that it can be understood by the general public. This document also dwells on the various exposure factors involve in radiography. It also provides a brief discussion of the attenuation that occurs when a photon travels through the matter. X-ray is a form of Photon that is created when energetic electron interacts with matter at the atomic level. Photons end their lives when they collide with electrons and transfer their energy. Like other forms of photons, x-rays possess intrinsic energy that may be imparted to the matter they interacts with. Interaction takes place as either absorption (transfer of energy from the X-ray photon to the absorbing material) or scattering (in which the X-ray photon is â€Å"redirected† by interaction with the scattering material) (Connolly, 2007). X-ray has been used extensively in medical imaging which sometimes brings wonders to a number of people of how x-rays are able to penetrate solid objects and produce images of the internal structure. Photoelectric Absorption occurs when a photon hits the atom of matter and all of its energy is transferred to the electron which is then knocked out of its orbital. The atom becomes ionized due to the loss of an electron. The photon, which is a form of energy, completely disappears as it transfers all its energy to the electron knocking it out of the orbital. The electron is ejected from the atom by the transformation of energy from light to kinetic energy and begins to pass through the surrounding matter. The electron rapidly loses its energy and moves only a relatively short distance from its original location. The photons energy is, therefore, deposited in the matter close to the site of the photoelectric interaction (Sprawls, 2006). The energy transfer is a two-step process. The photoelectric interaction in which the photon transfers its energy to the electron is the first step. The depositing of the energy in the surrounding matter by the electron is the second step. The transfer of energy is depicted by figure 1 to figure 2. Figure 1. Before Collision Figure 2. After Collision Photoelectric interaction normally occurs with electrons that has relatively high binding energy. It is most probable when the electron binding energy is only slightly less than the energy of the photon. If the binding energy of the electron is greater than the photon then photoelectric interaction cannot occur. This is because the interaction can only occur if the photon has sufficient energy to knock and overcome the binding energy, thus removing the electron from the atom. Compton Effect Compton effect occurs when a photon hits the atom of matter and only a portion of its energy is transferred to the electron. The photon still leaves the vicinity of the interaction in a direction different from the original path of the photon. This is illustrated in figure 3. The atom also becomes ionized due to the loss of an electron. The Relativistic energy and momentum are conserved in this process1 and the scattered x-ray photon has less energy and therefore greater wavelength than the incident photon (Connolly, 2007). The photon that leaves the vicinity of the interaction may interact further with the nearby atoms until it looses all its energy or escapes the matter and goes outside.

3 Sentences with Misplaced Modifiers

3 Sentences with Misplaced Modifiers 3 Sentences with Misplaced Modifiers 3 Sentences with Misplaced Modifiers By Mark Nichol Phrases that provide additional information in a sentence are often haphazardly situated within that sentence in such a way that the reader might be confused about what the modifying phrase refers to, or at best must reread the sentence to confirm that he or she has comprehended the correct meaning. Here are three sentences that benefit from relocation of a modifying phrase. 1. After twenty-seven years of marriage, I can only imagine how shocking your wife’s revelation must have been for you. Because the subject I immediately follows the modifying phrase â€Å"after twenty-seven years of marriage,† the erroneous implication is that the fact that the writer has been married to someone for that long enables him or her to imagine how shocking the revelation of the other person’s wife must have been for that person. (Here, only is an intensifier, making the meaning of the phrase â€Å"I can only imagine† akin to â€Å"I can well imagine,† rather than a diminisher, as in â€Å"I only have a few minutes to talk†- which should, technically, read, â€Å"I have only a few minutes to talk.†) However, the point is that that the other person and his or her wife have been married for a long time, and because of that fact, the wife’s revelation is shocking. To make this point clear, the sentence should begin with the subject and continue to shocking (the adjective that is the key word, and thus the fulcrum, of the sentence) before the modifying phrase is inserted as a parenthetical: â€Å"I can only imagine how shocking, after twenty-seven years of marriage, your wife’s revelation must have been for you.† 2. The project could require another two billion dollars to finish construction and ensure safety, which is about 7 percent of the country’s gross domestic product. Because safety immediately precedes the final phrase of this sentence, the statement describes safety as being a certain proportion of the country’s gross domestic product- obviously an error, because common sense tells the reader that the phrase about the GDP refers to the dollar amount, not to an intangible quality. To unambiguously represent that connection, the parenthetical reference to the dollar amount should appear immediately after the figure: â€Å"The project could require another two billion dollars- about 7 percent of the country’s gross domestic product- to finish construction and ensure safety.† 3. Smith’s company is unusual because it doesn’t pay any of its workers in exchange for stock equity. As written, this sentence suggests that Smith’s company is rare among businesses in that it doesn’t provide compensation to its employees with the understanding that the workers will offer his company stock equity in return; presumably, it has some other, unusual arrangement with the people who staff the company. This nonsensical impression is eliminated by changing the focus from what his company doesn’t do to what it does do and reversing the references to stock equity and pay, along with rewording the latter reference: â€Å"Smith’s company is unusual because it offers its workers stock equity in lieu of a salary.† (The modifying phrase â€Å"in lieu of a salary† could also be inserted parenthetically after because.) Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the Grammar category, check our popular posts, or choose a related post below:70 Idioms with HeartBest Websites to Learn EnglishWord Count and Book Length

Practical Experience and On-the-Job Training

Practical Experience and On-the-Job Training Hashtag: #MasterChef Practical Experience and On-the-Job Training Since cooking is one of the few occupations where one can get most of his training on the job, it is often favorable for an aspiring chef to work as a kitchen staff and gain practical or actual experience in a real world commercial kitchen. Most successful chefs according to study, are always eager to learn about food, they love the kitchen, and take advantage of opportunities offered by the kitchen to develop the skills and personality of a great chef. For example, the ability to think clearly,  stay  focused, and make quick decisions at a fast pace, demanding, and noisy environment are characteristics of a great chef progressively developed in the kitchen. YOUR FUTURE IN 180 MINUTES EXAM Practical skills  and experience are a tacit knowledge that is unique and difficult to imitate. It is the source of differentiation and competitive advantage that allows an individual to innovate, add value, ensure accuracy, and product quality. Expert chefs with significant tacit knowledge are capable of preparing any meal without consulting a cookbook because they have years of practical cooking experience. Moreover, expert chefs with sufficient practical experience are already accustomed to the taste, texture, color, and aroma of a particular meal and therefore able to mix ingredients without measuring devices and cook delicious meals without cooking timers. Formal Culinary Education Some Master Chef’s cooking skills are not only developed through years of practical experience but formal culinary education. The reason is that most Certification Standards for chefs performing in the executive and master level are based on experience and formal education. An aspiring chef, therefore, regardless of years of practical experience must obtain formal culinary education before he or she can be certified and land a job in better restaurants or hotels with high hiring standards. Some known advantage of having a degree or certificate from a professional and reputable culinary school is increased potential in landing a job, gaining knowledge of different cooking methods, learning theoretical cooking techniques from highly trained culinary school teachers, and getting certified in different areas of food education such as food preparation, food science, and food studies. Formal culinary education can also help aspiring chefs to experience and appreciate team building and develop a personal discipline that will set them apart from others. This discipline can help them keep everything in perspective; make them better employees and a great leader to other chefs. It is important to remember that although advantageous, the need to go to formal culinary school depends entirely on the job you want to pursue. For instance, chef levels with relatively little responsibility do not need formal education as they can land a job in school, hospital, and other institutions that only require high school diploma and adequate restaurant experience.

Students Should be Paid for Good Grades Research Paper

Students Should be Paid for Good Grades - Research Paper Example We tell him going to school and getting good grades is his job. If he does his job well, he gets paid just like a job in the real world.† Just think about it, if you were told that going to the office is your â€Å"job† as an adult and yet you derive nothing from participating in the said activity, would you be motivated to go to work? Would you be motivated to work harder in order to achieve a promotion if you knew that it did not come with a salary increase? Exactly. So why should paying a child for doing well in school be any different? Most specially since financial problems will be keeping these kids out of school later on in their lives. We should give them every opportunity to complete their education and if that means offering financial incentives while they are in high school, the so be it (Fitzpatrick, 2009). Weston (2009) quotes lawyer Jon Gallo, who is a non believer in the reward system as having said, " "Some psychologists believe that paying for grades is a bad idea because it substitutes an external reward -- money -- for an internal sense of satisfaction and therefore interferes with developing a work ethic." Remember that the educational system is meant to be a training ground for our country's future leaders. Therefore, giving them an incentive to stay in school and discover their true interests, since they will be amply rewarded for it early on in life, will result in truly motivating them to enter college and compete for jobs in the real world. Thereby giving them a thirst for more accomplishments in their future careers. It may also motivate students to enter the fields of study that are most in-demand in our country due to lack of participants. According to Guttenplan (2011), the money for grades program is actually helping the country of Qatar to do just that, remove their reliance on migrant workers for the professional jobs in the medical, engineering, and law fields. In the U.S. where we have a shortage in the Math and Sc ience areas, incentive programs such as these on the high school level may just be what the doctor ordered in order to fill in that hole. Tommie Sue Anthony president of the Arkansas Advanced Initiative for Math and Science (Toppo, 2008) explains that under their own Exxon-Mobile funded rewards for grades incentive program â€Å"We still have students who are not sure of the value, who are not willing to take the courses... Probably the incentives will make a difference with those students." This is a belief that is supported by by National Math and Science Initiative. Their representative, Gregg Fleischer explains (Toppo 2008) â€Å"It's an incentive to get them to basically make the right decision and choose a more rigorous class... This teaches them that if they work at something very hard and have a lot of support, they can do something they didn't think they could do.† Guernesy (2009) argues that psychologists believe that paying students to do well in school may result in various problems such as cheating. However, she also says that economists believe the program to be a â€Å"valuable incentive, especially for struggling students† (Guernsey, 2009). Our country's current financial situation means that parents are struggling to keep a roof over their heads and food on the table. This in turn, forces the students from these families to take on part time or full time jobs

Credit Crunch Essay Example | Topics and Well Written Essays - 500 words - 2

Credit Crunch - Essay Example But on that modest base, it builds an enormous balance sheet of two huge towers of cash: one of money borrowed, and the other of money lent or invested† (Davis). Banks thought that whatever the money they collected from the public in the savings accounts or term deposits need to be lent for a higher rate in order to make profit. So they tried to give loans to anybody approaching them without analyzing or checking the borrower’s financial capabilities. The high spending American people approached the banks for everything whenever they are in financial requirements and the banks were ready to satisfy them. â€Å"The American subprime mortgage firms, who made a rash of bad loans to people with poor credit, can find little to excuse their behavior† (Who is to Blame for Credit Crunch) Repayment period of loans allotted to the public was also fixed by the banks without any vision or purpose. Long periods were allotted to the borrowers for the repayment of loans. Moreover, the government also did everything to encourage the lending habits of the American public. Government encouraged the banks to reduce the interest rates of the loans they sanctioned and also to increase the repayment periods of the loans. Government miscalculated that the increased economic activities across the country would boost the economy. The main problem associated with the current credit crunch is that banks would force to increase the regulations on loans sanctioned to the public in future which will weaken the economic activities.

Media article critique Essay Example | Topics and Well Written Essays - 1000 words

Media article critique - Essay Example The sodium in the American diet does not significantly come from the saltshakers but in the abundance of processed food consumption. It should be noted sodium is usually used to enhance the flavor, stabilize, and preserve processed food. Accordingly, sodium intake can be reduced by opting fresh, whole food closest to their natural state. Another option is to look for canned food which are sodium-free or with reduced-sodium content. The DASH (Dietary Approach to Solving Hypertension) eating plan, which prescribes a diet comprised of fruits, vegetables, whole grains, low-fat dairy food, and food with limited saturated fat, cholesterol and sodium, is clinically proven to dramatically reduce blood pressure by infusing enough levels of potassium in the body to counter the effects of sodium. It has been verified by the Tulane University Health Science Center that adequate potassium intake may lower systolic blood pressure by 3 points and diastolic by 2 points. The level of sodium in the body as well as its effect is tied to an individual's physiological sensitivity to salt. It has been found out that 10-25 percent of the entire population is salt sensitive meaning that their bodies will respond faster with the reduction or increase in salt intake. Salt sensitivity is determined by heredity as it is passed on through genes and age as elders naturally experience higher blood pressure necessitating the reduction of sodium intake. With the current rise in the number of people who suffers from heart disease, I believe that this article is very helpful and timely. I completely agree with the information presented. Having a family history of hypertension, I'm seeking ways on how to reduce the risk of acquiring the disease. Reducing sodium intake is probably one of the easiest and most enjoyable way to avoid heart diseases as it requires me to take in a variety of fresh foods and challenge my creativity in coming up with recipes containing less salt. Works Cited Miers, Megan. Shake the salt habit: Limiting sodium intake can have many benefits. Knight Ridder Tribune Business News, May 18, 2006, Pg.1; Washington ARTICLE May 18--Whether already added or sprinkled on in the form of salt, sodium is one additive that keeps us clamoring for our favorite foods over and over again. But the same seasoning that brings out the flavor of salad dressing and gives potato chips their savory crunch also can wreak havoc with our health. Many Americans far exceed the recommended daily limit of sodium in their diets, and that's not good news for a country in which cardiovascular disease is the No. 1 killer. Excess sodium in the diet can lead to fluid retention and hypertension (high blood pressure), which in turn can lead to stroke and other potentially deadly conditions. But with a few simple steps, anyone can slash dietary sodium and drastically reduce health risks. "The maximum recommended limit is less than 3,000 milligrams of sodium per day," said Rachel Vincent, a registered and licensed dietitian at St. John Medical Center. "The average American gets about 8,000 milligrams a day." To function properly, our bodies need about 200 milligrams of s

Microeconomices Term Paper Example | Topics and Well Written Essays - 1500 words - 1

Microeconomices - Term Paper Example f individuals, firms, and industries in terms of producing and consuming of economic goods and services, the concept of cost is relevant as it affects microeconomic activities of the units concerned. For consumers and individuals who are not familiar with the concepts of costs, one might have the tendency to discard this as irrelevant and immaterial. However, close examination of these underlying theories would enlighten consumers on their effects on prices and quantities of goods which are normally offered to the public. It is therefore the objective of this essay to present relevant concepts, theories and applications concerning costs in microeconomics. The costs to be discussed range from opportunity cost, production costs, marginal cost, cost of externalities, the law of diminishing returns and economies of scale. It is interesting to note that in economics, all costs are considered opportunity costs. As rationalized by Petroff (par. 2), â€Å"anytime a resource is used for any purpose, it implies that some other good cannot be produced with that quantity of the resource, that some other resource is not used for the given production instead, and that revenues from other production are foregone. Thus, costs are either explicit cost for the resource used or implicit costs from alternative use of the resource.† To use a practical application, for a consumer who decided to buy a television set, the opportunity cost could be the value of a trip to a nearby beach resort which was not taken due to the purchase. Productions costs are normally related to firms or business enterprises engaged in manufacturing or producing goods for sale to the public. The concept of productions costs are not only discussed in microeconomics but more so in accounting or finance. Production managers are tasked with monitoring the costs of raw materials as well as labor and overhead costs to maximize profits. These costs could be classified as fixed, variable and total costs. Petroff

Why slavery developed through law and race-based issues Essay

Why slavery developed through law and race-based issues - Essay Example They had the right to earn and keep their wages. Slavery had no legal structure in the colonies. Slaves had legitimate marriages, adopted Christianity and were part of the military. These slaves negotiated for greater freedom. The Dutch West India Company gave them ‘half freedom,’ under which they could live on ‘free negro lots,’ farm their own land and pay a tribute to the company. The company retained the right to their services when necessary. Africans in New Amsterdam were now a mixture of slaves, half-free and free men. Slavery now developed in the British colonies. The tobacco country in Chesapeake, Virginia and Maryland was in need of cheap labor in the early 1600’s. This led the British in these colonies to adopt the indentured labor system. Indentured labor made tobacco the colonys most profitable export. Both white and African indentured labor were hired for a prescribed period, had no rights, were treated badly and could become free at the end of the indenture. Initially, they were treated equally. 1640 was a turning point at which indentured Africans began to be treated worse than indentured whites. Race began to assume increased significance. Indentured African slaves who attain freedom were not treated on par with free whites. The nonracial-specific system of indentured servitude that defined colonial labor in its earliest years came to an end. By 1665, Virginia, New York and Maryland legalized slavery by law and custom. All the British colonies became slave societies. All children of indentured women became slaves by law. As Virginia planters perceived the advantages of race slavery in expanding their tobacco holdings, they introduced laws in 1691 forbidding free blacks from living in certain counties. African-Americans were denied education, freedom of movement and the right to hold property. The indentured Africans’ avenues to freedom and recourse to law were progressively shut

Microeconomices Term Paper Example | Topics and Well Written Essays - 1500 words - 1

Microeconomices - Term Paper Example f individuals, firms, and industries in terms of producing and consuming of economic goods and services, the concept of cost is relevant as it affects microeconomic activities of the units concerned. For consumers and individuals who are not familiar with the concepts of costs, one might have the tendency to discard this as irrelevant and immaterial. However, close examination of these underlying theories would enlighten consumers on their effects on prices and quantities of goods which are normally offered to the public. It is therefore the objective of this essay to present relevant concepts, theories and applications concerning costs in microeconomics. The costs to be discussed range from opportunity cost, production costs, marginal cost, cost of externalities, the law of diminishing returns and economies of scale. It is interesting to note that in economics, all costs are considered opportunity costs. As rationalized by Petroff (par. 2), â€Å"anytime a resource is used for any purpose, it implies that some other good cannot be produced with that quantity of the resource, that some other resource is not used for the given production instead, and that revenues from other production are foregone. Thus, costs are either explicit cost for the resource used or implicit costs from alternative use of the resource.† To use a practical application, for a consumer who decided to buy a television set, the opportunity cost could be the value of a trip to a nearby beach resort which was not taken due to the purchase. Productions costs are normally related to firms or business enterprises engaged in manufacturing or producing goods for sale to the public. The concept of productions costs are not only discussed in microeconomics but more so in accounting or finance. Production managers are tasked with monitoring the costs of raw materials as well as labor and overhead costs to maximize profits. These costs could be classified as fixed, variable and total costs. Petroff

Core concept needed to be an effective youth worker Essay

Core concept needed to be an effective youth worker - Essay Example These organizations also look for sponsors to finance various projects. However, the most significant requirement is probably that of trainers and facilitators, who directly interact with the youth. The youth workers who work for various government and non-government organizations can instinctively follow certain moral principles and also take the help of formal training in order to develop the core competencies required for this mission. The core competencies needed to be an effective youth worker are many and varied since motivating and managing the youth is a challenging job. The entry-level youth development workers require domain knowledge, analytical skills and positive attitude. In addition to that they must have enormous level of patience as most of the times they will find themselves working actually on the mindsets of the target audience than anything else. The youth workers should be able to understand how a person evolves through the various stages of life and what kind of evolution takes place before, during and after the adolescence. They should have the fundamental knowledge of youth development programs and the processes associated with that. They should be able to apply this basic knowledge taking into consideration the contemporary trends and issues that influence youth development. These workers should be able to develop and facilitate age appropriate activities for the group. The activities should be engaging and the participants should be able relate these activities to their lives. The objective of the youth developmental work is to enable the youth to take decisions that add to the social, economic, political and ecological well-being of the community. To attain this objective, the workers have to develop effective programs. Once these programs are executed it is also required to follow up the programs in order to check the progress and bring amendments wherever necessary making sure that the goals and objectives of the programs are achieved. Again, for ensuring the success of these programs it is important to develop strategies for evaluating the effect and outcome of these programs. Workers involved in the youth development projects undertaken by the government organizations, voluntary organizations, trusts and public bodies must have the core competencies that are necessary to promote effective leadership, decision-making and implementation skills among the youth. Those organizing the youth development programs should think of more and more activities related to youth leadership development. Apart from summing up the basic leadership qualities, the youth should be provided mock leadership experience through participatory activities, which will enable the participants to understand the challenges of leadership role. These organizations should hire facilitators, faculty and agents who would be able to build a rapport with the youth and would be able to communicate the objectives of the programs. For this they need to be concerned about and interested in the feelings, the inadequacies and the ambitions of the youth. The facilitators should be good listeners who can listen with empathy and objectivity and without being judgmental. They can start with sharing the various problems that face the youth, for example, they can talk about job opportunities to the unemployed youth. But for that they need to be aware of suitable job

Harvard business publishing Essay Example for Free

Harvard business publishing Essay In mid-September of 2010, Emily Harris, vice president of New Heritage Doll Company’s production division, was weighing project proposals for the company’s upcoming capital budgeting meetings in October. Two proposals stood out based on their potential to strengthen the division’s innovative product lines and drive future growth. However, due to constraints on financial and managerial resources, Harris knew it was possible that the firm’s capital budgeting committee would decline to approve both projects. She also knew that New Heritage’s licensing and retail divisions would promote compelling projects of their own. Consequently, Harris had to be prepared to recommend one of her projects over the other. The Doll Industry Revenues in the U.S. toy and game industry totaled $42 billion in 2008 and were projected to increase by 4.6% per year to $52.5 billion by 2013. The market was divided into two broad segments: video games (48%) and traditional toys and games (52%). The second segment was further divided into infant/preschool toys (14.5%), dolls (14.1%), outdoor sports toys (12.3%), and other toys games (59.1%) including arts and crafts, plush toys, action figures, vehicles, and youth electronics. The U.S. market for toys and games was dominated by large global enterprises that enjoyed economies of scale in design, production, and distribution. Revenues were highly seasonal; the largest selling season in the United States coincided with the winter holiday period. Within the toy and game segment, U.S. retail sales of dolls totaled $3.1 billion in 2008 and were projected to grow by 3% per year to $3.6 billion by 2013. The doll category included large, soft, and mini dolls, as well as doll clothing and other accessories. The phenomenon of â€Å"age compression†Ã¢â‚¬â€ the tendency of younger children to acquire dolls that had traditionally been designed for older girls—reduced growth in the â€Å"baby-doll† sub-segment. Competition among doll producers was vigorous, as a small number of large producers targeted similar demographics and marketed their dolls through the same media. Lasting franchise value for a branded line of dolls was rare; the enormous success of Barbie ® dolls was an obvious exception. More recently and on a much smaller ________________________________________________________________________________________________________________ HBS Professor Timothy Luehrman and HBS MBA Heide Abelli prepared this case solely as a basis for class discussion and not as an endorsement, a source of primary data, or an illustration of effective or ineffective management. Th is case, though based on real events, is fictionalized, and any resemblance to actual persons or entities is coincidental. There are occasional references to actual companies in the narration. Copyright  © 2010 Harvard Business School Publishing. To order copies or request permission to reproduce materials, call 1-800-545-7685, write Harvard Business Publishing, Boston, MA 02163, or go to http://www.hbsp.harvard.edu. No part of this publication may be reproduced, stored in a retrieval system, used in a spreadsheet, or transmitted in any form or by any means—electronic, mechanical, photocopying, recording, or otherwise—without the permission of Harvard Business Publishing. Harvard Business Publishing is an affiliate of Harvard Business School. Purchased for use on the MSc Business Valuation, at Imperial College London. Taught by James Sefton, from 21-Aug-2013 to 31-Dec-2013. Order ref F211857. Usage permitted only within these parameters otherwise contact [emailprotected] Educational material supplied by The Case Centre Copyright encoded A76HM-JUJ9K-PJMN9I Order reference F211857 New Heritage Doll Company: Capital Budgeting 4212 | New Heritage Doll Company: Capital Budgeting scale, New Heritage also had created a durable franchise for its line of heirloom dolls. But the popularity of most doll lines waned after a few years. New Heritage Dolls By 2009, New Heritage had grown to 450 employees and generated approximately $245 million of revenue1 and $27 million of operating profit from three divisions: production, retailing, and licensing. The production division, discussed further below, designed and produced dolls and doll accessories. The retailing division offered a unique â€Å"intergenerational experience† for grandmothers, mothers, and daughters, centered upon the character histories and storylines of the company’s dolls and delivered through an online website (42%), a mail-order paper catalog (33%), and a network of retail stores (25%). In fiscal 2009, the retailing division generated roughly $190 million of revenue and $4.8 million of operating profit. The licensing division was started in 1998, and represented the company’s newest and most profitable division. It sought to extend the New Heritage brand and capitalize on high levels of customer loyalty by selectively licensing the company’s doll characters and themes to a variety of media that reached the firm’s target demographic of toddler to pre-teen girls. In fiscal year 2009 the licensing division generated $24.5 million of revenue and $14.5 million in operating profit. New Heritage’s Production Division Production was New Heritage’s largest division as measured by total assets, and easily its most asset-intensive. Approximately 75% of the division’s sales were made to the company’s retailing division, with the remaining 25% comprising private label goods manufactured for other firms. Table 1 summarizes the division’s various sources of revenue and operating income. Table 1 Production Division Data: Revenue ($ millions) Operating Income ($ millions) New Heritage’s dolls and accessories were offered under distinct brands with different price points, targeting girls between the ages of 3 and 12 years. The company’s baby dolls were generally priced from $15–$30, and were offered to younger girls in earlier stages of development. These dolls typically came with a â€Å"birth certificate† and a short personal history. Dolls in the higher-end of this category incorporated technology that produced a limited amount of speech and motion. For the 1 The division revenue figures include approximately $95 million of internal sales within divisions which are eliminated when considering consolidated revenue for the company. BRIEFCASES | HARVARD BUSINESS PUBLISHING Purchased for use on the MSc Business Valuation, at Imperial College London. Taught by James Sefton, from 21-Aug-2013 to 31-Dec-2013. Order ref F211857. Usage permitted only within these parameters otherwise contact [emailprotected] Educational material supplied by The Case Centre Copyright encoded A76HM-JUJ9K-PJMN9I Order reference F211857 The New Heritage Doll Company was founded in 1985 by Ingrid Beckwith, a retired psychologist specializing in child development and the grandmother of two young girls. Dr. Beckwith believed the dolls produced by the major toy companies did little to develop girls’ imagination or foster a positive self-image, so she created a line of dolls with unique storylines and wholesome themes. Dr. Beckwith’s dolls struck a chord among mothers and grandmothers who also rejected the dated, clichà ©d images portrayed by the popular dolls of the day. New Heritage Doll Company: Capital Budgeting | 4212 New Heritage outsourced much of its production to a select number of contract manufacturers in Asia. To ensure product quality and safety, the company maintained a fulltime staff to oversee material sourcing, production, and quality control on site at each of its manufacturing partners. Manufacturing activities that required precise tolerances or proprietary processes, along with all the creative elements (design and product prototyping, for example), were handled in-house at the company’s headquarters facilities in Sacramento, California. Educational material supplied by The Case Centre Copyright encoded A76HM-JUJ9K-PJMN9I Order reference F211857 Capital Budgeting at New Heritage New Heritage’s capital budgeting process retained some of the informality that characterized the company’s early years as an innovative startup. As the company grew, deliberate steps were taken to decentralize some of the project approval process and increase spending authority at the division level. However, large and/or strategic spending proposals were reviewed at the corporate level by a capital budgeting committee consisting of the CEO, CFO, COO, the controller, and the division presidents. The committee examined projects for consistency with New Heritage’s business strategy and sought to balance the needs and priorities of each division against practical financial and organizational constraints. The committee also sought to understand project interdependencies and the potential for a given investment to strengthen the whole company, not solely the division proposing it. New Heritage’s capital budget was set by the board of directors in consultation with top officers, who in turn sought input from each of the divisions. The capital and operating budgets were linked; historically, the capital budget comprised approximately 15% of the company’s EBITDA. The committee had limited discretion to expand or contract the budget, according to its view of the quality of the investment opportunities, competitive dynamics, and general industry conditions. Before being considered by the committee, projects were described, analyzed, and summarized in self-contained proposal documents prepared by each division. These contained business descriptions, at least five years of operating and cash flow forecasts, spending requirements by asset category, personnel requirements, calculations of standard investment metrics, and identification of key project risks and milestones. Financial Analyses Financial analysis began with operating forecasts developed with oversight from New Heritage operating managers. Revenue projections were derived from forecasts of future prices and volumes. Fixed and variable costs were estimated separately, by expense category. Forecasts of working capital requirements were likewise vetted by line managers, who paid particular attention to a project’s requirements for various types of inventory. Forecasts for fixed assets and related depreciation charges were developed in cooperation with analysts reporting to the controller. HARVARD BUSINESS PUBLISHING | BRIEFCASES Purchased for use on the MSc Business Valuation, at Imperial College London. Taught by James Sefton, from 21-Aug-2013 to 31-Dec-2013. Order ref F211857. Usage permitted only within these parameters otherwise contact [emailprotected] $75–$150 price range, New Heritage produced a line of heirloom-quality dolls and accessories. These were designed to appeal to older girls and to convey a sense of cultural and family tradition among grandmothers, mothers, and daughters. The heirloom dolls had more elaborate accessories and personal histories. Finally, the company offered a line of high-end dolls based on fictional â€Å"celebrities,† each associated with a charitable cause and embracing more contemporary fashion trends. These dolls targeted girls in the so-called â€Å"tween† age range of 8–12 years, and also were priced from $75–$150. Like the heirloom dolls, celebrity dolls also came with more elaborate stories and accessories. 4212 | New Heritage Doll Company: Capital Budgeting New Heritage assigned discount rates to projects according to a subjective assessment of each project’s risk. High-, medium-, and low-risk categories for each division were associated with a corresponding discount rate set by the capital budgeting committee in consultation with the corporate treasurer. Assessments of each project’s risk were made at the division level, but subject to review by the capital committee. Factors considered in the assessment of a project’s risk included, for example, whether it required new consumer acceptance or new technology, high levels of fixed costs and hence high breakeven production volumes, the sensitivity of price or volume to macroeconomic recession, the anticipated degree of price competition, and so forth. In 2010, â€Å"medium†-risk projects in the production division received a discount rate of 8.4%. High- and low-risk projects were assessed at 9.0% and 7.7%, respectively. Projects that created value indefinitely, given continuing investment, were treated as going concerns with a perpetual life. That is, NPV calculations included a terminal value computed as the value of a perpetuity growing at a constant rate. However, to preserve an element of conservatism, the capital committee generally insisted on relatively low perpetual growth rates – lower than New Heritage’s historical growth and lower than near-term growth forecasts for a given division. Investment Opportunities in the Production Division Emily Harris was focused on two of the production division’s most attractive current proposals. The first involved expanding the successful Match My Doll Clothing Line to include matching allseason clothing for tween girls and their favorite dolls. The second involved a new initiative, the Design Your Own Doll line, which employed web-based doll-design software to let users â€Å"customize† a doll’s features to the customer’s specifications. Match My Doll Clothing Line Expansion The Match My Doll Clothing line originally consisted of a few sets of matching doll and child clothing and accessories for warm weather. It quickly became successful after the daughters of a few celebrities were spotted and photographed wearing items from the line, and girls’ magazines included some of the line in â€Å"what’s hot to wear† sections. Given recent publicity, Marcy McAdams, the brand manager responsible for the line, believed the timing was perfect to expand. Specifically, McAdams proposed to create an â€Å"All Seasons Collection† of apparel and gear covering all four seasons of the year. She expected the new offerings to be at least as profitable as the existing line, since its current popularity would make it possible to maintain premium prices. She also hoped to take advantage of off-peak discounts offered by some suppliers and contract manufacturers as they tried to smooth their capacity utilization. In the same fashion, McAdams argued the expansion would help reduce, or at least not exacerbate, the seasonality in New Heritage’s sales and earnings. BRIEFCASES | HARVARD BUSINESS PUBLISHING Purchased for use on the MSc Business Valuation, at Imperial College London. Taught by James Sefton, from 21-Aug-2013 to 31-Dec-2013. Order ref F211857. Usage permitted only within these parameters otherwise contact [emailprotected] Educational material supplied by The Case Centre Copyright encoded A76HM-JUJ9K-PJMN9I Order reference F211857 Operating projections for a given project were used to develop cash flow forecasts that would underpin calculations of net present value (NPV), internal rates of return (IRR), payback period, and other investment metrics. Cash flow forecasts were intended to capture the incremental effect of a proposed project on the firm’s cash flow for each year within the forecast period. That is, each project’s cash flow forecasts excluded non-cash items, such as depreciation charges, and nonincremental items such as sunk costs (i.e., costs that would be incurred regardless of whether a given project was undertaken or not). The cash flow forecasts were computed on an after-corporate-tax basis, but excluded all financing charges. Some elements of the cash flow forecasts were prepared with assistance from treasury analysts, but most of the necessary adjustments were well understood by division staff. New Heritage Doll Company: Capital Budgeting | 4212 To exploit the current popularity of the original Match My Doll Clothing line, especially given the fickle nature of children’s fashion trends, McAdams believed the opportunity had to be exploited without delay. Her investment proposal contained relatively large outlays for RD, market research, and marketing to maximize the probability of quick acceptance and longer-term success for the follow-on line. Upfront investment expenditures are summarized in Table 2. Table 2 Match My Doll Clothing Extension Outlays The RD and marketing expenditures would be deductible for tax purposes at New Heritage’s 40% corporate tax rate. The property, plant and equipment was expected to have a useful life of 10 years; the associated depreciation charges, shown in Exhibit 1, were based on the modified accelerated cost recovery system (â€Å"MACRS†) allowed by the IRS. Working capital requirements, shown in Table 2 for 2010 and in Exhibit 1 for subsequent years were based largely on recent historical experience with the original Match My Doll Clothing line. Finally, given the proven success of Match My Doll Clothing, Harris believed the project entailed moderate risk—that is, about the same degree of risk as the production division’s existing business as a whole. Design Your Own Doll This initiative targeted existing New Heritage customers, many of whom owned several of the company’s heirloom dolls. The company’s research showed that, when asked what features (e.g., appearance, ethnicity, â€Å"life story,† etc.) New Heritage should give to future dolls, loyal customers’ responses had a high correlation with their own personal data. That is, girls wanted dolls like themselves. Further research suggested that many loyal customers would purchase yet another doll if they could customize the doll’s features to create a â€Å"one-of-a-kind† addition to a girl’s or family’s existing collection of dolls. It also promised to increase the girl’s pride in and identification with the doll, both because of their shared features and because of the girl’s participation in creating the doll. This in turn further cemented customer loyalty. The customization process would begin with a new section of New Heritage’s website, where proprietary design software enabled the customer to select physical attributes of the doll such as hair color, hair length style, skin color, eye shape, eye color, and other facial features. The software could combine selected features and produce a photo-realistic image showing the finished doll with user-selected accessories. The customer could zoom in or out on the image and rotate it to see different aspects. The software made it easy to try out different combinations of features and accessories before making a purchase. Elizabeth Holtz, brand manager for heirloom dolls, was very excited about the project. She observed, â€Å"A girl’s relationship with her favorite doll is often partly mommy and partly big sister. Either way, having your doll look more like you is really powerful. And there’s excitement in the experience: exploring the website, naming the doll-to-be, selecting her first outfit†¦even the anticipation of waiting for the new doll to arrive. I really think this is big.† Holtz also believed that the dolls could command a premium price. â€Å"Customers will naturally expect to pay more [for a HARVARD BUSINESS PUBLISHING | BRIEFCASES Purchased for use on the MSc Business Valuation, at Imperial College London. Taught by James Sefton, from 21-Aug-2013 to 31-Dec-2013. Order ref F211857. Usage permitted only within these parameters otherwise contact [emailprotected] Initial Expenditures ($ thousands) 4212 | New Heritage Doll Company: Capital Budgeting custom doll],† she said. Market research with focus groups revealed significant enthusiasm for the product concept and supported the notion of premium prices. The web-based software tools and order entry system required New Heritage to make significant modifications to its existing technology infrastructure, expand its webhosting capacity, and modify the terms of its third-party service agreements to ensure a higher level of service quality. The majority of the RD expenditures shown below were related to software development, hardware upgrades, and web design. The development time involved, including product testing, was expected to be approximately 12 months. Initial outlays, some of which occurred in 2010 and some in 2011 As with Match My Doll Clothing, the required RD and marketing costs would be tax deductible. Manufacturing equipment had to be ordered by the end of 2010 to be ready for production at the beginning of 2012. While New Heritage had the option to pay for custom equipment in quarterly installments, the firm could get a substantial discount by paying for the equipment up front, in 2010. Figures in Table 3 and Exhibit 2 reflect the discounted cost of the equipment. To support the forecasted level of sales, substantial investment in working capital (primarily work in process inventory of partially manufactured dolls) would be required beginning in 2011. And still more equipment would have to be purchased and installed no later than 2014. In years 2015 and following, investments in working capital and equipment would revert to patterns familiar from the production division’s traditional lines of dolls. To complete development work, Holtz planned to use some of the company’s existing IT staff. The majority of the work would take place during calendar 2011. The number of people and their fully loaded costs are shown Table 4. These costs were not included by Holtz in the initial outlays shown in Table 3 or in the forecasts presented in Exhibit 2. The development personnel Holtz needed were considered â€Å"corporate† resources and were almost certainly available to work on the project. Table 4 Design Your Own Doll Development Personnel, ($ 000s) Application Development Personnel Costs: Web Application Developers Database Manager Systems Integration Specialist Total Cost BRIEFCASES | HARVARD BUSINESS PUBLISHING Purchased for use on the MSc Business Valuation, at Imperial College London. Taught by James Sefton, from 21-Aug-2013 to 31-Dec-2013. Order ref F211857. Usage permitted only within these parameters otherwise contact [emailprotected] However, even a limited degree of customization increased manufacturing complexity and expense. Further, because of the low production runs and volume, fixed costs on a per unit basis were expected to be relatively high. Consequently, the breakeven volume for the project was also expected to be high. New Heritage Doll Company: Capital Budgeting | 4212 Finally, Holtz needed to give Harris her assessment of the project’s riskiness. On the one hand, Design Your Own Doll had a relatively long payback period, introduced some untested elements into the manufacturing process, and depended on near-flawless operation of new customer-facing software and user interfaces. If the project stumbled for some reason, New Heritage risked damaging relationships with its best customers. On the other hand, the project had a relatively modest fixed cost ratio, and it played to the company’s key strength—creating a unique experience for its consumers. Educational material supplied by The Case Centre Copyright encoded A76HM-JUJ9K-PJMN9I Order reference F211857 Emily Harris still needed to complete her review and financial analysis of the two proposals. McAdams and Holtz were in frequent touch with Harris and both had offered to respond to any questions she might have about the proposals: the business case, the financial projections, the operating details, or anything else. Harris expected that she would indeed have some follow-up questions as she worked through her financial analyses. She also knew that her final recommendation might disappoint some executives within the division, who would scrutinize it closely. It had to be well-supported.

Totalitarianism In Orwells 1984 Politics Essay

Totalitarianism In Orwells 1984 Politics Essay George Orwells 1984 is about a man Winston Smith in a country called Oceania with a government called IngSoc. Winston lives in constant fear as he is arrested and tortured by members of the Party, people participating in IngSoc. Orwell shows how IngSoc is a controlling government. Also, he discusses the dangers of a government like IngSoc. IngSoc is a totalitarian government. Orwell denounces totalitarianism by creating a dystopia that has a totalitarian government. Totalitarianism is the form of government that theoretically permits no individual freedom and that seeks to subordinate all aspects of the individuals life to the authority of the government. When Orwell published 1984, totalitarianism denoted a society in which political power was in the hands of a dictator or leader and a nontraditional ruling elite; the mass of the population was not only politically powerless but deprived of all intellectual and cultural resources (Gleason, 148). Totalitarianism is a tempting option for countries whose citizens are suffering. The totalitarian states of Nazi Germany under Adolf Hitler (1933-45) and the Soviet Union under Joseph Stalin (1924-53) were the first examples of decentralized or popular totalitarianism, in which the state achieved overwhelming popular support for its leadership (totalitarianism n.p.). In Nazi Germany, the citizens were overcoming a huge depression resulting from the loss in World War I. In the Soviet Union, the people ov erthrew an unproductive, uncaring Tsarist government. George Orwell had many bad experiences with totalitarianism, and recounts these events in 1984. He experienced firsthand the effects of a fascist government in World War II. In 1948, when Orwells 1984 was first published, World War II had just ended. During World War II, mass murders were ordered by totalitarian leaders like Adolf Hitler and Josef Stalin. Adolf Hitler, in Germany, had slaughtered his enemiesà ¢Ã¢â€š ¬Ã‚ ¦ killing six million Jews plus nine million Slavs, gypsies, political dissidents, homosexuals, and mentally challenged people (1984 242). Orwell, influenced by genocide caused by a single powerful man, prompted him to reflect upon the cause of so many deaths. He powerfully expresses his worries about the dangers of a totalitarian government by creating his own dystopia in 1984. A totalitarian government works to control the mind of the people. One way to induce subservience is to control pleasure. The Party controls people by limiting and suppressing pleasure. To remove the pleasure from society diminishes the morale of the people, allowing the government to enforce its will. Sex is a social activity looked down upon by the Party through organizations like the Junior Anti-Sex League. Laurence Lerner suggests, [Orwell] considers [sex] extremely important because of its concentration on pure pleasure and IngSoc is a society dedicated to the abolition of pleasure (Bloom 73). Julia uses sex as a medium to rebel against the Party. Seeing Julias rebellious act, Winston joins her and expresses his desire for rebellion as well. Scores of time she had done ità ¢Ã¢â€š ¬Ã‚ ¦ Anything that hinted at corruption always filled him with a wild hope (Orwell 125). Winstons hope is exactly what a totalitarian government desires to destroy. Also, when OBrien tortures Winston in Room 101, he reveals the motives of the Party: The sex instinct will be eradicated. Procreation will be an annual formality like the renewal of a ration card. We shall abolish orgasm (Orwell, 267). By removing the pleasures of sex and all pleasures of society, the Inner Party is free to exert its will upon the citizens of Oceania. Under totalitarian rule, traditional social institutions and organizations are discouraged and suppressed (totalitarianism n.p.). Totalitarianism takes away freedom by installing surveillance and limiting activity. The Party uses the Thought Police, Spies, and telescreens to monitor the citizens of Oceania at all times. Winston buys a blank diary and writes in it while he is in his flat. However, Winston fears the Thought Police will catch him for Thoughtcrime. Winston had committedà ¢Ã¢â€š ¬Ã‚ ¦ the essential crime that contained others in itself. Thoughtcrime they called it (Orwell 19). The Party can accuse anyone of committing Thoughtcrime, even without any evidence. Parsons was taken away by his own children for committing Thoughtcrime. Thoughtcrime also has the ultimate penalty: Thoughtcrime does not entail death: Thoughtcrime IS death (Orwell 28). When free thought is a crime, the government can destroy any mode of thinking which is not its own. When Winston first sees Julia, he is worried that she is a spy. Whether she was really an agent of the Thought Police, or simply an amateur spy actuated by officiousness, hardly mattered (Orwell 101). Winston lives in constant fear of being caught and tortured by the Party. The Spies are a group of children who are taught how to catch adults of committing Thoughtcrime. Parsons children, members of the Spies, turn in their own father to the Party through dedication to the Party. Julia and Winston are in what they think is the last safe place, a room without a telescreen. However, the room hides a telescreens behind a picture, allowing the Party to spy on them while engaged in private activity. A government that can fully monitor its citizens instills fear and maintains full control. The Party uses the media to confuse its citizens. On the telescreens pictures of the enemy, Emanuel Goldstein, appear with other subliminal messages. A depiction of Goldstein shows a lean Jewish face, with a great fuzzy aureole of white hair and a small goatee beard- a clever face, and yet somehow inherently despicable (Orwell 12). His despicable face incites anger in the population, even if directed at an imaginary figure. The anger is then redirected toward the true enemy, as the telescreens then show pictures of Eurasian soldiers, the country Oceania is at war against. Manipulating the media manipulates the attitudes citizens have. The Party uses Newspeak and doublethink to confuse the citizens of Oceania. NEWSPEAK is calculated to get rid of individuality by limiting the range of though through cutting the choice of words to a minimum (1984, 249). The Party restricts the words used to be only positive, preventing any negative comments towards the government. The purpose of Newspe ak was not only to provide a medium of expression for the world-vie and mental habits proper to the devotees of IngSoc, but to make all other modes of thought impossible (Orwell, 299). To eliminate other modes of thought is to eliminate the inherent freedom of thought. Totalitarianism leaders sole concern is gaining power. The Party seeks power entirely for its own sake. We are not interested in the good of others; we are interested solely in power. Not wealth or luxury or a long life or happiness; only power, pure power (Orwell, 263). Orwell intends to manifest the intentions of Adolf Hitler and Joseph Stalin, but to a more extreme level. The German Nazis and the Russian Communists came very close to us in their methods, but they never had the courage to recognize their own motives. They pretended that à ¢Ã¢â€š ¬Ã‚ ¦ there lay a paradise where human beings would be free and equal. We are not like that. We know that no one ever seizes power with the intention of relinquishing it (Orwell, 263). Orwell parallels the motives of the Party with the motives of the Nazis and Communists to a greater extent. The Nazis and Communists had original intentions of freedom and prosperity for their people, but were deluded by a thirst for power. In Oceania, the g overnment has willingly accepted full power and a truly totalitarian government where Big Brother does indeed control all. In Nazi Germany and Stalins Soviet Union, whole classes of people, such as the Jews and the kulaks (wealthy peasant farmers) respectively, were singled out for persecution and extinction. (totalitarianism, n.p.). Totalitarianism blinds the citizens of Oceania. The proles, carrying a different view than the Party members, are branded as evil. The Party taught that the proles were natural inferiors who must be kept in subjection, like animals, by the application of a few simple rules (Orwell, 71). The inferiority of the proles is compared to animals, which lack intelligence to humans. Although the proles have the power to rebel, the Party forces them to believe they are inferior to humans, causing them to live separate from the population. Totalitarianism is a tempting option for countries overcome with poverty. Orwell advises to the citizens of those countries to not select that path. Countries like Germany, Italy, and Russia have instilled totalitarian government into their countries, causing many deaths, and many to lose freedoms. Totalitarian leaders are only concerned with genuine power no matter how many people are harmed.

The Meaning of Fahrenheit 451 :: Fahrenheit 451 Essays

The Meaning of Fahrenheit 451 Â   This book depicts a story about a futuristic world in the middle of a nuclear war. The government of this future forbids its people from reading or taking a part in individual thinking. During this time, the law against reading is new and the government is taken on a task of destroying all of the books. This is where we meet or main character named Guy Montag. He is a fireman. Him and his crew go around and burn books in libraries, and homes. Â   Â  I think the theme of the story is that there are many facets to a personality than is first visible. The book is narrated in third person. At the beginning of the book we see Guy Montag as a ruthless man who enjoys his job very much. Later on he discovers that he does not enjoy his life, it is merely a fake mask. He slowly discovers this in himself when he meets a teenage girl named Clarisse who is his new neighbor. She awakens a love and desire in Montag to enjoy the simple things in life. He also discovers that his happiness is fake when he discovers that he does not love his tranquilizer addicted wife who cares more about her television relatives than real life. Guy Montag slowly becomes unhappy with his life when he learns of Clarisse's death in an automobile accident and when he had to bun an old lady alive in her house because she refused to let them burn her books. Â   When we discover that Guy Montag is unhappy with his life, we start to respect that he is trying to change his way of life. When Montag goes to talk to his wife about the disadvantages about being a fireman, she offers no sympathy and tells him to stay away from her because all she knows is that books are unlawful. After awhile, Captain Beatty has a talk with Montag because he is suspicious of Montag's behavior. He tells Montag that the ideas in books are not real and they cause a dispute in people's minds. He says that ridding the world of controversy puts an end to dispute and allows people to live happy. Later on, Montag confesses that he had not just stolen one book but yet a small library.

Analysis Report of Cango

Analysis Report of CanGo Veronica Perla BSN460ON Senior Project Dr. John Martin September 7, 2009 Overview CanGo is an Internet startup company that retails an exciting array of products and services, ranging from books and videos to online gaming, and prides itself on providing the best customer service in terms of product delivery and support. The company’s Web site is fun and easy to use; employing the latest technology in Web site development, product innovation, and services is how CanGo strives to provide their customers with the most exciting entertainment. The majority of CanGo’s customers are the Gen-Xers and the Gen-Yers, who enjoy the latest in online gaming and entertainment. Under age, consumers (under 18 years of age) are serviced responsibly by requiring adult permission for online purchases. CanGo strongly values its employees and customers. The company best serves its employees by involving them in decision-making, staff training, and development. CanGo believes that keeping their employees motivated and working at their full potential can translate into the best customer service possible. There is a growing trend that CanGo has identified within the gaming industry that will be utilized to bring the company added success. This growing trend is online gaming. CanGo wants to become a leader of the online gamming market. The hope of the company is to become a complete success story both as an online retailer and online gaming service. The company has recently been called a success story by the Hudson Valley Business Association. The CEO of CanGo, Elizabeth Bennet, has been named the Regions Business Leader of the year. Potential entrepreneurs want to know how and why CanGo became a success story. This leads to the strengths, weaknesses, opportunities and threats that this Internet Company has and faces in its entrepreneurial endeavors. S. W. O. T Analysis The information used to develop this analysis was taken from the visual analysis performed on recorded episodes depicting staff interaction and company dynamics. The observations will be separated into internal (Strengths and Weaknesses) and external (Opportunities and Threats) issues. Strengths CanGo has demonstrated a few strengths in these preliminary episodes. Elizabeth Bennet, CEO of CanGo, is the company’s greatest strength. Her vision of knowing what consumers want and how to get it to them at a lower cost is what has made CanGo a success story in Hudson Valley. This passion is carried through to the staff and is demonstrated by Andrew’s eagerness to take on the potentially lucrative market of online gaming. The CanGo staff is another one of the company’s strengths. Each staff member brings an additional resource to the company that can be utilized to improve productivity and development. For instance, Debbie has organizational skills and a teaching background that can be utilized for training purposes. Training and development are strengths that successful companies posses. Utilizing the skills that each staff member brings can help CanGo become a bigger success story across the country and not just in Hudson Valley. These strengths also lead to CanGo’s weaknesses as a company. Weaknesses These preliminary episodes also showed many of CanGo’s weaknesses. The most apparent weakness would be the lack of a vision statement, mission statement and strategic plan. These weaknesses were made apparent by Elizabeth Bennet’s frustration with the writing of the speech she was to give at the Chamber of Commerce meeting. She states that her success was pure luck and that all she did was begin a new business venture. A strategic plan is important to a successful company because it guides and focuses all staff members to specific goals and establishes a course of action to achieve them. Strategic planning also serves as a way to ensure that all departments within the organization share a common goal. Another important component to a successful business is the vision and mission statements. Vision statements are written for the organization and its employees. They are comprised of the dreams and inspirations of the organization and where it is headed. This statement also serves as the framework for the organization’s strategic plan. Mission statements are a representation of the organization’s purpose for existing. It should be derived from the vision statement and used as a guide when producing a strategic plan. These three articles would have helped Elizabeth write the Chamber of Commerce speech by providing her with the foundation necessary to provide the potential entrepreneurs attending this meeting the how and why of CanGo’s success. There are a few other internal issues that plague CanGo and may impede its success if not addressed. The lack of project implementation procedures, organizational skills, management involvement and skepticism can lead to poor performance, failed projects, and miscommunication. Implementing a project plan can help keep staff members on course and pinpoint areas that may need special attention. This plan also helps make sure that projects follow specific paths to guarantee timely results. Utilizing the resources that staff members bring to the company will ensure that everyone has the skills necessary to accomplish their objectives. For instance, Debbie Haynes was previously a teacher at the Drake School of Business; she possesses great organizational and teaching skills that can be utilized by CanGo to further develop the staff. Debbie can head a training seminar on the importance of organizing, prioritizing and scheduling impending projects using Gantt charts. These types of resources are abundant within any organization; all that is needed is to identify what kind of skill each particular staff member brings to the organization. The last major weakness is the lack of management involvement in the course of a project. This is made evident when Warren handed Nick the task of creating an implementation report for online gaming. Nick was left to figure it out on his own. Management should be involved in the planning and implementation of any project. For instance, CanGo could implement procedures like research deadlines, preliminary draft sign off requirements and senior staff team eetings to discuss the progress of the project. This will eliminate the chance for poor and costly errors. CanGo has the opportunity to take these weaknesses into consideration and make some changes that will improve the organization as a whole. This kind of improvement will prepare it to achieve external opportunities and deal with external threats as well. Opport unities CanGo not only has strengths and weaknesses but also opportunities. These potential opportunities are for company growth, increased capital, new market ventures, and expansion into other areas of e-commerce. There is a great opportunity for company growth both in regards to increase workforce and possible mergers with other startup Internet companies. As CanGo reaches higher sales volume it will be necessary to incorporate an automated storage and retrieval system. With the impending five-hundred percent increase in sales this coming holiday season; CanGo needs to make certain that their order fulfillment and processing center is equipped to handle this possible increase. Every company is looking for a way to increase its capital. CanGo has been preparing to go public which will increase its capital base. This kind of opportunity can also become a weakness due to the fickleness of the stock market. However, if CanGo can successfully handle its five-hundred percent sales increase during the holiday season, this opportunity can prove to be a very lucrative venture. CanGo’s greatest opportunity is to branch out into new markets. E-commerce is a very broad market that has plenty of opportunities for organizations such as CanGo. The CanGo team may decide to expand and include other items to their list of inventory. Elizabeth Bennet’s dream was to help consumers shop and find what they need easier and at a lower price. If she sticks to this philosophy she may take CanGo in the direction of Amazon. com or Overstock. com. The sky is the limit for these kinds of opportunities. New market ventures may be a great lucrative opportunity but it may also bring with it threats. Threats The CanGo organization faces a couple of threats like the possibility of failure, loss of capital, and takeovers. Failure is eminent for any organization but it is especially eminent for CanGo. The lack of a vision, mission statement and a strategic plan can lead to failure. Vision and mission statements are important for any organization because they not only provide a clear view of what the organization’s goals and intentions are but they also help give the staff a standard that should be met and maintained. Implementing a strategic plan is a vital part of any successful business and has been proved to help carry a business through tough economic climates. Loss of capital is also a viable threat. This may be caused by lawsuits, manufacturer or vendor bankruptcies and low sales. Keeping capital secure is sometimes a bit difficult to do. This may be accomplished by purchasing liability insurance and using a variety of manufacturers and vendors. Low sales are often directly linked to the economic forecast. This is sometimes hard to prepare for and should be observed by the accounting and finance department to ensure that the inventory purchased match the possible sales and future market forecast. Takeovers of successful companies are also threats that need to be watched for. CanGo’s success as a small Internet e-commerce company may make it a very enticing company to purchase. Competitors like Amazon. com and Overstock. com may feel that CanGo’s success is a force that needs to be control before it becomes an e-commerce giant that may affect their sales margins. The easiest way to obtain this company would be by force; which is why takeovers are a legitimate threat to CanGo. Recommendations CanGo’s greatest asset and strength is CEO, Bennet’s vision and passion for this company. Elizabeth Bennet is the only one who has a clear picture of what the company is about, what its intent in the market is and how to achieve it. There needs to be a vision statement and a mission statement prepared to let the entire company in on Elizabeth’s vision. Once these statements are in place and all of the CanGo staff has had a chance to look them over and jump on board, the executive team should convene to prepare a strategic plan based on both the vision and mission statements previously prepared. This strategic plan should include specific goals for the company to attain within the next five to ten years. This is the most important recommendation that can be offered at this particular time. There is another not so eminent recommendation that is being offered at this time. This is in regards to the utilization of staff resources. CanGo has a diverse quality of people with different academic backgrounds and skill sets. Utilizing these specific traits can enrich the company as a whole. As mentioned earlier utilizing Debbie Haynes’s teaching credentials and organizational skills to train the staff on the importance of Gantt Charts and prioritizing tasks for impending projects may help save time, otherwise spent on trying to figure out where to begin and what needs to be accomplished first. This would help the staff members reach deadlines and complete projects without the added stress of disorganization. These recommendations are meant to promote company growth and development. These two elements are necessary for a successful company to remain a success in their particular market. References Archives: Why a Strategic Plan is Important? (2006) Online Business Advisor. Retrieved September 9, 2009, form http://www. onlinebusadv. com/? PAGE=171 Business Resource Software: Mission Statement. (n. d. ) Center for Business Planning. Retrieved September 9, 2009, from http://www. businessplans. org/mission. html CanGo Intranet: Company Information. (n. d. ) Mastering Business. Retrieved September 4, 2009, from http://myphlip2. pearsoncmg. com/masteringbusiness/cango/companyinfo. html Definition: SWOT Analysis. (n. d. ) Answers. com. Retrieved September 9, 2009, from http://www. answers. com/topic/swot-analysis Definition: Vision Statement. (n. d. ) About. com. Retrieved September 9, 2009, from http://sbinfocanada. about. com/od/businessplanning/g/visionstatement. htm

Foreign Exchange Service of Bank Asia Limited Essay

1. Introduction The banking sector in Bangladesh comprises of four categories of scheduled banks. These are, nationalized commercial banks (NCBs), government owned development finance institutions (DFIs), private commercial banks (PCBs) and foreign commercial banks (FCBs). Performance of these banking sectors under CAMEL framework, which involves analysis, and evaluation of the five crucial dimensions of banking operations, the five indicators used in the rating system are (I) Capital adequacy (ii) Asset quality (iii) Management soundness (iv) Earnings and (v) Liquidity. In addition, foreign Exchange Service is one of the major considering factors regarding these indicators. The bank acts as a media for the system of foreign exchange policy. The principles of foreign exchange service involve the entire system, the media used, and the monetary unit. According to Mr. H.E. EVITT † Foreign Exchange is that section of economic science which deals with the means and methods by which right to wealth in one country’s currency is converted into rights to wealth in terms of another country’s currency.† So bank should be aware about this section for the overall development of the economy. 2. Background of the study An internship program’s necessity is originated for implementing the theoretical knowledge in particle field. Therefore, internship program is included in BBA program. The goal of this report is to identify the contribution and the effect of foreign exchange service in Bank’s net profit. 1.3 Rational Of the Study The rational of the study is to know more about the course in practical life. This study also helped me to know the banking system. From this study I learned about the different functions in the bank like offering online banking, pay order, foreign remittance, foreign trade, investment etc. I also learned how the banks perform these functions, what problems they face, and their benefit in offering different services to their clients. Then I was assigned in foreign trade department, so I have learned about L/C Files, register and over all L/C mechanism. In this section, how they provide their services to the clients I have also learned about it. As a student of Finance, it is very important for me to acquire proper knowledge in this course to get better result in the future. 1.4 Objectives of the Study 1) The prime objective of the study is to understand various functions of Banks. I tried to evaluate the present condition of the banks. 2) To know about various products & services of this bank, and to know about the banking terms as well as habituate with banking environment. 3) To know how they find out the risk of the foreign trade. 4) To know how they identify these types of risk and minimize them. 1.5 Methodology of the study For preparing the report, I followed the following steps: âž ¢ Primary Information: First, I collected data about the Foreign – Exchange Service in Bank Asia ltd. MCB Dikusha Branch by tenting to personnel working in the bank. âž ¢ Secondary Information: Then in the second stage, I analyzed the collected data, working in Foreign Trade Department. Again, †¢ Personal Observation †¢ File Finding †¢ Annual Reports of BAL †¢ Articles of BIOM helped to prepare this report. 1.6 Limitations of the Study Not all the information of a Bank can be disclosed. It is very much essential for a bank to provide security to the customer. So the perfect information might not be shown in all places. The Employees of the Bank are also very busy. Therefore, the employees of the bank do not have enough time to provide me help regarding preparing report. Therefore, it was very hard for me to collect the data and bring out the proper information in order to make report look good. I had to go through many obstacles in order to make it presentable. 1.7 Scope of the Report The scopes of the report are as follows: †¢ The report would help the top management to identify the key areas of weakness and strength in foreign exchange service. †¢ The scope of the study is based on brief description of BAL has been furnished. †¢ The study may help top management in planning and decision making regarding foreign exchange service. CHAPTER 2: AN OVERVIEW OF THE PRINCIPAL ACTIVITIES OF â€Å"BANK ASIA LIMITED† 2.1 OVER VIEW OF BANK ASIA LIMITED: ‘Bank Asia Limited (Ltd) has been launched by a group of successful entrepreneurs with recognized standing in the society. The paid up capital of the Bank is 1395 million. The management of the Bank consists of a team led by senior bankers with decades of experience in national and international markets. The senior management team is ably supported by a group of professionals many of whom have exposure in the international market. Bank Asia Limited is one of the third generation private commercial banks (PCBs), incorporated in Bangladesh on 28 September 1999 as a public limited company under the Companies Act 1994, and governed by the Banking Companies Act 1991. The Bank went for public issue of its shares on 23 September 2003 and its shares are listed with Dhaka Stock Exchange Ltd and Chittagong Stock Exchange Ltd. Bank Asia Limited acquired the business of Bank of Nova Scotia (incorporated in Canada), Dhaka, in the year 2001 and at the beginning of the year 2002, the Bank also acquired the Bangladesh operations of Muslim Commercial Bank Limited (MCBL), a bank incorporated in Pakistan, having two branches at Dhaka and Chittagong and one booth at Dhaka. In taking over the Bangladesh operations, all assets and certain specific liabilities of MCBL were taken over by Bank Asia Limited at book values. Within a short span of time Bank Asia Ltd has established itself as one of the fast growing local private banks. It has at present a network of Thirty three branches serving many of the leading corporate houses and is gradually moving towards retail banking. Another significant delivery channel is its own as well as shared ATM Network. Bank Asia has a network of 25 ATMs out of which 6 it owns. The other 19 ATMs are shared through ETN with eleven other banks. Since its humble beginning in 1999, it set milestone by acquiring the business operations of the Bank of Nova Scotia in Dhaka, first in the banking history of Bangladesh. It again repeated the performance by acquiring the Bangladesh operations of Muslim Commercial Bank Ltd. (MCB), a Pakistani bank. In the year 2003 the Bank again came to the limelight with oversubscription of the Initial Public Offering of the shares of the Bank, which was a record (55 times) in our capital market’s history and its shares commands respectable premium. The asset and liability growth has been remarkable. By Dec 2007 the total asset of the Bank grew to Tk 38436 million, increase of almost 26% comparing to 2006. As of Dec 2007 deposits increased to Tk 30004 million, an increase of 19% over that of 2006, and Loans & Advances reached Tk 28456 million, an increase of 28% over that of 2006. Bank Asia has been actively participating in the local money market as well as foreign currency market without exposing the Bank to vulnerable positions. The Bank’s investment in Treasury Bills and other securities went up noticeably opening up opportunities for enhancing income in the context of a regime of gradual interest rate decline. Bank Asia Ltd is maintaining its competitiveness by leveraging on its Online Banking Software and modern IT infrastructure. It is the pioneer amongst the local banks in introducing innovative products like SMS banking, and under the ATM Network the Stelar Online Banking software enables direct linking of a client’s account, without the requirement for a separate account. 2.2 VISION STATEMENT OF BANK ASIA LIMITED: Bank Asia’s vision is to have a poverty free Bangladesh in course of a generation in the new millennium, reflecting the national dream. Our vision is to build a society where human dignity and human rights receive the highest consideration along with reduction of poverty. 2.3 MISSION STATEMENT OF BANK ASIA LIMITED: To assist in bringing high quality service to our customers and to participate in the growth and expansion of our national economy. To set high standards of integrity and bring total satisfaction to our clients, shareholders and employees. To become the most sought after bank in the country, rendering technology driven innovative services by our dedicated team of professionals. 2.4 CAPITAL STRUCTURE: Banks generally do their business with other’s fund, so Bank Asia Ltd is not in exception. Bank Asia Ltd uses 24% equity and 75% Debt source of capital. The capital structure is following: