Zara Market Segment Essay Example

Zara Market Segment Paper Founded in 1975 in Spain, the clothing company Ezra owns over 2000 stores in 88 countries. Its parent company, Inedited, one of the worlds biggest fashion retailers with eight brands and more than 6390 stores worldwide, made a net profit of over 2. 3 billion euros last year. Ezra builds its global success on speed, which allows it to deliver the new designed product to different stores around the world within fourteen days. Ezra strategically opened its stores in leading cities with high population. Obviously it is related to Saras market segment. Though Inedited designs various similar fashion clothing brands like PullBear, Shoo and Strabismus, their targeted customers and market segments are not the same, but complementary. Ezra targets its own market segment and accordingly has separate design, production and positioning strategy. Demographic segmentation plays a vital role. Saras market segment focuses on women rather than men. Specifically, its targeted customers are between 18-40 with mid-range income. Most of them are interested in fashion and hold a hectic lifestyle. Though they are fashion freaks they might not be affordable to the luxury couture and they may not focus on the quality. Based on this, what they expect particularly from the market is the fancy and trendy clothing with medium-priced and rapid replacement, which means the speed of design, producing and delivery is crucial. In order to satisfy their needs, Saras designers get their inspiration and design and then stylish clothes can be presented in every Ezra store only fourteen days later, whilst, most fashion brands sell their clothes in four seasons. We will write a custom essay sample on Zara Market Segment specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Zara Market Segment specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Zara Market Segment specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Lower price, moderate quality, fast and reliable delivery, wide range of fashionable products are the competitive factors of Ezra. Such competitive advantages rely on the continuous creation and fast speed of shipping new products. To achieve these, Saras young designers design around 40000 new clothes per year and launch 10000 of them. Most new designs are the latest trend but with a lower price, which helps Ezra beat its luxury fashion brands who provide the similar design products. Thus, lower cost, fast speed and reliable delivery are all order winners.

Free Essays on Police Corruption

Police corruption By: Ben Police corruption is a complex phenomenon, which does not readily submit to simple analysis. It is a problem that has and will continue to affect us all, whether we are civilians or law enforcement officers. Since its beginnings, many aspects of policing have changed; however, one aspect that has remained relatively unchanged is the existence of corruption. An examination of a local newspaper or any police-related publication on any given day will have an article about a police officer that got busted committing some kind of corrupt act. Police corruption has increased dramatically with the illegal cocaine trade, with officers acting alone or in-groups to steal money from dealers or distribute cocaine themselves. Large groups of corrupt police have been caught in New York, New Orleans, Washington, DC, and Los Angeles. Methodology: Corruption within police departments falls into 2 basic categories, which are external corruption and internal corruption. In this report I will concentrat e only on external corruption because it has been the larger center of attention recently. In simple terms, corruption in policing is usually viewed as the misuse of authority by a police officer acting officially to fulfill personal needs or wants. For a corrupt act to ocure, three distinct elements of police corruption must be present simultaneously: 1) missuse of authority, 2) missuse of official capacity, and 3) missuse of personal attainment. (Dantzker,1995: p157) It can be said that power inevitably tends to corrupt, and it is yet to be recognized that, while there is no reason to suppose that policemen as individuals are any less fallible than other members of society, people are often shocked and outraged when policemen are exposed violating the law. The reason is simple. There deviance elicits a special feeling of betrayal. "Most studies support the view that corruption is endemic, if not universal, in police departme... Free Essays on Police corruption Free Essays on Police corruption Police corruption By: Ben Police corruption is a complex phenomenon, which does not readily submit to simple analysis. It is a problem that has and will continue to affect us all, whether we are civilians or law enforcement officers. Since its beginnings, many aspects of policing have changed; however, one aspect that has remained relatively unchanged is the existence of corruption. An examination of a local newspaper or any police-related publication on any given day will have an article about a police officer that got busted committing some kind of corrupt act. Police corruption has increased dramatically with the illegal cocaine trade, with officers acting alone or in-groups to steal money from dealers or distribute cocaine themselves. Large groups of corrupt police have been caught in New York, New Orleans, Washington, DC, and Los Angeles. Methodology: Corruption within police departments falls into 2 basic categories, which are external corruption and internal corruption. In this report I will concentrat e only on external corruption because it has been the larger center of attention recently. In simple terms, corruption in policing is usually viewed as the misuse of authority by a police officer acting officially to fulfill personal needs or wants. For a corrupt act to ocure, three distinct elements of police corruption must be present simultaneously: 1) missuse of authority, 2) missuse of official capacity, and 3) missuse of personal attainment. (Dantzker,1995: p157) It can be said that power inevitably tends to corrupt, and it is yet to be recognized that, while there is no reason to suppose that policemen as individuals are any less fallible than other members of society, people are often shocked and outraged when policemen are exposed violating the law. The reason is simple. There deviance elicits a special feeling of betrayal. "Most studies support the view that corruption is endemic, if not universal, in police departme... Free Essays on Police Corruption Police Corruption Police corruption is a complex phenomenon, which does not readily submit to simple analysis. It is a problem that has and will continue to affect us all, whether we are civilians or law enforcement officers. Since its beginnings, may aspects of policing have changed; however, one aspect that has remained relatively unchanged is the existence of corruption. An examination of a local newspaper or any police-related publication on any given day will have an article about a police officer that got busted committing some kind of corrupt act. Police corruption has increased dramatically with the illegal cocaine trade, with officers acting alone or in-groups to steal money from dealers or distribute cocaine themselves. Large groups of corrupt police have been caught in New York, New Orleans, Washington, DC, and Los Angeles. Methodology: Corruption within police departments falls into 2 basic categories, which are external corruption and internal corruption. In this report I will concentrate only on external corruption because it has been the larger center of attention recently. My definitional information and background data came from various books cited that have been written on the issue of police corruption. Those books helped me create a basis of just what the different types of corruption and deviancies are, as well as how and why corruption happens. The books were filled with useful insight but were not update enough, so I relied on the newspaper articles to provide me with the current, and regional information that was needed to complete this report. In simple terms, corruption in policing is usually viewed as the misuse of authority by a police officer acting Budds 2 officially to fulfill personal needs or wants. For a corrupt act to occur, three distinct elements of po... Free Essays on Police Corruption Police Corruption Police corruption is a problem that has vested itself in police departments across the United States. It is a problem that has and will continue to affect us all, whether we are civilians or law enforcement officers. Since its early development, many aspects of policing have changed; however, one aspect that has remained relatively unchanged is the existence of corruption. Whether its sheltered within the department or broadcast on every news channel across the world its an element of our departments that must come to a seize. Police corruption has become a very serious problem in today’s police departments. Large groups of corrupt police have been caught in New York, New Orleans, Washington, DC, and Los Angeles. Abuse by law enforcement officers in the United States is one of the most serious and divisive violations to humans in this country. The violations persist nationwide, in rural, suburban, and urban areas of the country, committed by various law enforcement personnel including local and state police, sheriff’s departments, and federal agents. Police have engaged in unjustified shootings, severe beatings, fatal choking, and unnecessary rough treatment, persists because overwhelming barriers to accountability make it possible for officers who commit violations to escape due punishment and often to repeat their offenses. While the proportion of repeatedly abusive officers on any force is generally small, responsible authorities including law enforcement supervisors, as well as local and federal government leadership often fail to act decisively to restrain or penalize such acts. In simple terms, corruption in policing is usually viewed as the misuse of authority by a police officer acting officially to fulfill personal needs or wants. For a corrupt act to occur, three distinct elements of police corruption must be present simultaneously: 1) misuse of authority, 2) misuse of official capacity, and ...

Reconstruction Term Paper

Reconstruction Term Paper Reconstruction Term Paper Reconstruction Term Paper If you have received an assignment to write a reconstruction term paper, you should start with narrowing the topic. Choose one aspect of the topic and develop it. Of course, if your term paper has to be 20 pages in length, the topic should be broad enough.Below is a short term paper sample written on the topic reconstruction. If you need more sample term papers, please check our term paper blog. If you need custom term paper writing service, try our professional help. Custom written paper is original and fully referenced. You will never find it posted in the Internet! Reconstruction Term Paper Sample Though Sumner and Stevens are often the only names heard in text-book accounts of Reconstruction they stood amid a remarkable group of self-made politicians. 1 Amongst them one of the most forceful was Senator Ben Wade, who had been born in 1800 of an old but poor family on a small Massachusetts farm and received little formal education. In 1821 Wade moved to Ohio and followed various occupations before beginning the study of law in 1825; with a rapidity which might be the envy of lawyers in more settled societies he was called to the bar in 1827 or 1828 and joined the firm of Joshua Giddings at the very fountainhead of political abolitionism. He became a State senator, then a judge, and in 1851 was sent to the United States Senate where he was soon recognized as an anti-slavery leader. During the war he was chairman of the key Committee on the Conduct of the War. Wade was vigorous, impulsive and likeable; men deprecated his rough methods of speech and distrusted his judgment but nev er questioned his sincerity and integrity. In 1864 Gideon Welles, though thinking that 'the old man was a little acrimonious towards the President', found Wade 'very pleasant and affable'. In 1868, when much water had flowed under the Reconstruction bridge Welles lamented that ' Wade has become demoralized, and is not the plain, single-minded, honest, unambitious man he was a few years since'. Senator Henry Wilson of Massachusetts had been born as Jeremiah Colbath in 1812. on a very poor New England farm. At the age of twenty he changed his name to Henry Wilson, and established himself as a shoemaker at Natick in Massachusetts; here he built up a considerable business and the 'cobbler of Natick' was actually a successful employer of some hundred men. His happy relations with his work-people foreshadowed the future career of one who was to prove himself the canniest vote-getter in all New England and to rise to the highest positions without ever losing touch with the simple voters of his State. Throughout his adolescence he had been an omnivorous reader, and in spite of his lack of education became a widely informed man. He entered State politics as a Whig Free Soiler and was for a time editor of the anti-slavery Boston Republican. For a short period, which he was always to regret, he joined the Know-Nothings but withdrew in protest against their intolerance and refusal to adopt antislavery views.

An economical analysis of the car market in Saudi Arabia Essay

An economical analysis of the car market in Saudi Arabia - Essay Example The region has been affected by the Arab uprising causing many economies to strain. The move by the government of Saudi Arabia to inject US$37 billion into the economic social initiatives is likely to improve the consumer purchasing power (Hutchison and Davies 42). This has increased the sales and revenues in the motor vehicle sector. Most retailers and importers in the country have started dealership expansion programs. This paper gives an economic analysis of the car market in Saudi Arabia. The car market in the country has been bent towards high-end models. However, there is a propensity towards purchases in the lower-priced family cars. The cars to small and their running cost are economical. The demand for family cars is expected to rise with increase in population (IMF, 2008). In 2010, the market for ultra-luxury cars grew by 39 percent. Porsche and Lexus have opened high-end servicing centers in anticipation for rising demand. Commercial vehicles are responsible for 20 percent of the demand for auto mobile products in Saudi Arabia. The increasing spending in government infrastructure and the demand created by visiting pilgrims continues to be a major boost in the sector. Literature review Saudi Arabia remains the largest importer of vehicles in Middle East (Hutchison and Davies 42). ... This has affected the car industry positively (IMF, 2008). In 2009, about 600,000 units were purchased. This represented a sales rise of 1 percent. However, the demand for vehicles grew by 12 percent in the following year (Ahmed, 103). The flood situation in Thailand and the tsunami in Japan affected the supply chains in the Saudi market (Hutchison and Davies 42). This resulted to 0.7 percent decline. The growth in demand for private vehicles was inversely proportional to the commercial vehicles in 2011 (IMF, 2008). The automobile industry is dominated by Japanese brands (Abushakra, 19). This accounts for over 60 percent. Increased competition from Korean brands is making the automobile industry favorable to the customers (Hutchison and Davies 42). The Korean brands are low priced and offer improved quality (Abushakra, 19). The trends in the automobile market share are changing as new market entrants gain momentum in the local market (Hutchison and Davies 42). The young generation is getting draw to small cars causing a shift of preference. The expansion in the private sector is responsible for the surge in demand for small cars (Hakes, 51). The automotive sector in the Saudi market is expected to grow by about 7 percent in the next two years. The imports are might grow to over one million cars (IMF, 2008). The financial support for the importation of cars is on the increase as banks offer increased credit to support supply levels (Hakes, 51). The oil revenues continue to support the fiscal position of the government. Increased spending on the infrastructure is causing the demand for vehicles to remain high (Ahmed, 103). The modernizing of transport facilities in the kingdom will result in sustainable development (Hutchison and Davies 42). The

Knowledge management Essay Example | Topics and Well Written Essays - 500 words - 4

Knowledge management - Essay Example Conversely, knowledge management views knowledge as a tacit concept that is resident in individuals and organizations. Information management seeks to enhance internal processes and ensure the quality of business operations whilst knowledge management seeks to facilitate knowledge-rich relations and support ongoing innovation and development. Most Information Management Systems are based on business processes that are clearly defined, relatively stable and involve similar objects such as applications, invoices, and orders. Examples of such business processes include production processes, logistics, and administration. On the other hand, knowledge management systems are dynamic and difficult to predict because different times and situations need different knowledge. The people involved in knowledge management do not need information. Rather, they look for background information, argumentations, conclusions, methods, opinions, analyses and best practices. Knowledge management strategy is primarily the domain of human resource director and its significance to the director explains this. The strategy helps formalize, store, share, distribute, and coordinate an organization’s knowledge assets all of which are functions that touch on the work of the human resource director. The director is able to modify the culture of an organization in such a way that the organization’s values and norms seamlessly connect with the knowledge management strategy. Human resource director is able to promote a climate of trust and commitment in an organization in order to make it easy to manage knowledge. This director has the capacity to organize an organization’s employees in to networks, teams, and communities of practice in order to enhance sharing of knowledge. The strategy also helps human resource director to influence an organization to adopt policies that encourage the hiring and

Witness essay 2012 hsc Essay Example for Free

Witness essay 2012 hsc Essay How does Weir’s portrayal of the relationship between Book and his world move us into a deeper understanding of power? The 1985 film ‘witness’ directed by Peter weir is a crime/drama that develops the theme of conflict though individual power on a social, cultural and personal level. These areas of power are highlighted through the use of film techniques such as; camera shots, camera angles, lighting and costume. The film outlines the juxtaposition between mainstream American society and the Amish community in regional Pennsylvania, the theme of power between Book and his world precisely emphasize this juxtaposition. The competent American society is seen as a violent and arrogant group of people, whereas the Amish community is seen as the defenceless peaceful, religious group of people. Peter weir is careful to portray power realistically; he does this though the use of violence. Weir uses three basic groups when it comes to violence. The Amish, who refuse violence in all circumstances, men like John Book who use violence to achieve justice, and the perpetrators of violence, people like Schaeffer and Mcfee, who use violence to achieve outcomes and power. Books life is one abundant with violence that is the consequence of his line of work, which essentially is present due to his authorised general level of power, he is a police officer so by law enforcement is required to exert his power though violence and literal means in order to protect and support the community in which he lives, even if this means extermination of one’s life. Weir presents the violence in the film in a graphic, confronting way. This is done to emphasise to the audience the bloody consequences that come from negative use of power to achieve justice or commit crimes. By not sensationalising violence, weir creates a realistic mis en scene; however Weir presents that violence, as used by people like John Book is necessary, as long as people like Mcphee and Schaeffer exist. The impracticality of the Amish view is presented when they are shown being harassed by tourists. Eli’s statement â€Å"it happens, we ignore them†, show that it is a regular occurrence. The idea of not using violence, even in self defence is shown to be impractical in the wider world. The Amish are community is here portrayed as one in absence of power, even though they could possibly defend themselves or use violence they choose to accept the disturbance by the modern society, and use pacifism to be genuine to their culture, being respective but vulnerable. However accompanying them is John Book, being a stereotypical police officer he possesses the power in violence and is unafraid and unrestricted to making use of it. By utilising the power he has hold of, he attacks the hecklers as he is ambiguous to achieving a sense of justice for the Amish, demonstrating the conflicting use of power when Eli says â€Å"it’s not our way† and John Book replies â€Å"but it’s my way†.

Miracles: When Faith Contradicts Reason :: Essays Papers

Miracles: When Faith Contradicts Reason When the term "miracle" comes to mind, the average person doesn’t quite know what to say. After all, a miracle is something unexplained that is looked upon in awe. Webster’s Universal Dictionary defines a miracle as: . "an extraordinary event attributed to the supernatural; an unusual or astounding event." 1 In today’s society, though, everyone has their own definition of astounding. Perhaps some people contribute certain events to the supernatural while others do not. So in today’s times, Webster’s New World Dictionary provides a clearer meaning of a miracle: . "an event or action that apparently contradicts known scientific laws." 2 In other words, it is a gap between faith and scientific reasoning. In modern medicine, a miracle is described as any occurrence where a higher power, God, for example, takes over and intervenes benevolently in the fate of the patient.3 The doctor, along with everyone else, can only marvel. As a generality, it can be said that miracles are modern examples of the continuing contradiction between faith and reason. When People Lose Hope in Modern Medicine At a certain point during a person’s illness, a doctor will say that there is just no more that can be done. Modern medicine, scientific technology, and healing techniques have done all they can, but tragically, the fate of the person looks grim, and death is rapidly approaching. It is then that people will hope for a miracle. Terri McFaddin, a minister, expresses the feelings of those seriously ill when saying that "We are living in desperate times where people are going to believe in things they can’t see because they can’t trust the things they can see. Miracles happen where natural resources end. One will walk into the realm of miracles when all natural resources have been exhausted." 4 When scientific reasoning and human knowledge have failed people and no cure can be found, that is when people will turn to their faith and hope for a miracle. They grip hope that is beyond reason and logic.5 Praise and worship leader Ron Kenoly says that more people are reali zing that to be helped with the great problems they face, they need to go beyond the limits of reason and the abilities of man.6 Today the largest percentages of Americans in a decade profess the existence of God and miracles, according to a poll commissioned by the Pew Research Center. Miracles: When Faith Contradicts Reason :: Essays Papers Miracles: When Faith Contradicts Reason When the term "miracle" comes to mind, the average person doesn’t quite know what to say. After all, a miracle is something unexplained that is looked upon in awe. Webster’s Universal Dictionary defines a miracle as: . "an extraordinary event attributed to the supernatural; an unusual or astounding event." 1 In today’s society, though, everyone has their own definition of astounding. Perhaps some people contribute certain events to the supernatural while others do not. So in today’s times, Webster’s New World Dictionary provides a clearer meaning of a miracle: . "an event or action that apparently contradicts known scientific laws." 2 In other words, it is a gap between faith and scientific reasoning. In modern medicine, a miracle is described as any occurrence where a higher power, God, for example, takes over and intervenes benevolently in the fate of the patient.3 The doctor, along with everyone else, can only marvel. As a generality, it can be said that miracles are modern examples of the continuing contradiction between faith and reason. When People Lose Hope in Modern Medicine At a certain point during a person’s illness, a doctor will say that there is just no more that can be done. Modern medicine, scientific technology, and healing techniques have done all they can, but tragically, the fate of the person looks grim, and death is rapidly approaching. It is then that people will hope for a miracle. Terri McFaddin, a minister, expresses the feelings of those seriously ill when saying that "We are living in desperate times where people are going to believe in things they can’t see because they can’t trust the things they can see. Miracles happen where natural resources end. One will walk into the realm of miracles when all natural resources have been exhausted." 4 When scientific reasoning and human knowledge have failed people and no cure can be found, that is when people will turn to their faith and hope for a miracle. They grip hope that is beyond reason and logic.5 Praise and worship leader Ron Kenoly says that more people are reali zing that to be helped with the great problems they face, they need to go beyond the limits of reason and the abilities of man.6 Today the largest percentages of Americans in a decade profess the existence of God and miracles, according to a poll commissioned by the Pew Research Center.

Effective Human Resources Essay

The four bands Each of the 10 professional areas is further divided into four levels or bands (from 1 to 4), which define the different levels of work activities and knowledge requirements within each area. There is also a useful section within the information on bands, entitled ‘Transitions’, which helps us identify how we can move, or prepare to move, from one professional band to the next. Band one Supports colleague with administration and process. Effectively manages information and data and is customer orientated. Band two Advices on and/or manages HR related issues relating to an individual or a team. Has a clear understanding of the evaluation process and the solutions available. Band three Leads a professional area acting as a consultant or partner, addresses key HR challenges at an organisational level for the medium and long term. Band four Leads and manages a professional area(s) and/or the organisation. Responsible for developing and delivering organisational and HR strategy. Activity 1 part B QUESTION comment on the activities and knowledge specified within any 1 professional  area, at either band 1 or band 2, identifying those you consider most essential to your own (or other identified) HR role. Answer Learning and development is one of the professional areas which I identified to be essential in HR role. The level of responsibilities are describe in three different ways, namely: a). what you need to know (knowledge) b). what you need to do (activities) c). How you need to do it ( behaviour) Knowledge In this professional area HR personnel are require to have knowledge about the organisational purpose, the key product/service and customer. Also require HR personnel to know the sector context in which the organisation operates, legal and market factors that impact performance. Activity The skills or abilities require of HR personnel in the (Learning and development) area are the abilities to collect, collate and analyse project metrics, data and report back on key information. Require of the HR personnel to provide accurate and timely information, data and advice to managers and employees on organisation’s people policies and procedure and employment. Behaviour HR personnel could carry out the activity successfully by using the following behaviour a). Driven to deliver- Demonstrates determination, resourcefulness and purpose to deliver the best results for the organisation. b). personally credible-Builds and delivers professionalism through combining commercial and HR expertise to bring value to the organisation, stakeholders and peers. The above aforementioned responsibilities is considered to be entry-level (i.e. BAND 1) in the HR profession. Reference 1. http://www.cipd.co.uk/NR/rdonlyres/B4D7EB6D-FD79-45A1-B32D-F951C7ACB3A4/0/978

Butler Lumber Case Study Analysis Essay

Subject: Butler Lumber Company Problem: Whether Mr. Mark Butler should go ahead with financing from Northrop National Bank or should stay with Suburban National Bank. Options: 1) Enter into a loan agreement with Northrop National Bank for USD 465,000 (Assumption: The condition to sever the relationship with Suburban National Bank applies to Short Term Loan only) 2) Continue short term lending relationship with Suburban National Bank for USD 250,000 and secure the company’s loan with real property Recommendation: Given available data, Butler Lumber company should enter into a loan agreement with Northrop National Bank for USD 465,000 Analysis: Our recommendation to Mr. Mark Butler to enter into agreement with Northrop Bank for line credit of USD 465,000 is based on the following factors: External Financing Need We assessed the company’s external financing need in 1991 based on the following scenarios: a)The current quarter net sales of 1991 attributes 26% of annual sales of company in 1991, since first quarter sales of 1990 contributed 26% of total 1990 net sales and hence the total net sales projected for 1991 is USD 2.77 Mn. Balance Sheet and Income statement have been projected at percentage of sales (Please refer to exhibit no. 1). In this scenario, we assume company doesn’t opt to take discounts on its purchases b)Net Sales of USD 2.77Mn, company opts to take discounts on its purchases c)Net sales in 1991 of USD 3.6Mn as indicated by bank’s investigator in the case study Under both the above scenarios, company would need more financing than its current bank credit facility of USD 250,000. Under scenario (a), if the company decides not to take discounts, then it would need short term credit facility of USD 211,000 to meet its short term capital requirements, however company’s accounts payables would increase to USD 263,000 and its net profit will be USD 49,000. Hence as far company’s financing need is concerned it can continue its short term relationship with the existing bank. On the other hand, if the company decides to take discounts, then it would need short term loan of USD 407,000 to meets its working capital requirements and hence would have to go into agreement with the new bank. Under this scenario, company’s accounts payables would amount to USD 55,000 and net profit would be USD 61,000. Under scenario no (b), Butler Lumber total assets are projected to outpace total liabilities (excluding short term loan) by USD 628, 000, hence the existing loan will be far from fulfilling client’s working capital needs and the loan from Northrop Bank will be able to bridge USD 465,000 of the gap, however company would still be needing USD 162,000 under current mode of operation. We recommend that apart from getting new line of credit from Northrop Bank, company should reduce its days receivables period. Increase in Profitability Option 1: If the company remains with the existing bank loan, the total interest expenses are projected to increase by USD 7,000 in 1991 and resulting into after-tax net profit USD 49,000 with loan from existing bank. The effective rate of interest expense is 13.2% with existing loan. (Please refer to exhibit _____) Compared to 1990, ROA will remain the same at 5% and ROE will remain at 13%. Option 2: If the company replaces its short term line of credit from its existing bank to new bank, the total interest expenses are projected to increase by USD 11,000 in 1991, however company will be able to earn discounts of USD 27,000, resulting into after-tax net profit of USD 61,000 with new loan as compared to after-tax net profit of USD 49,000 with loan from existing bank. The effective rate of interest expense with new loan, after taking effect of discount income, is 5.0% compared to 13.2% with existing loan. (Please refer to exhibit _____) Compared to 1990, ROA will increase to 6% while ROE will increase to 17%. These profitability ratios indicate a better result by taking up the new loan than staying with the old bank. By Dupont analysis (Please see exhibit___), the main drivers for the higher ROE for new loan is due to higher profit margin which offset the lower equity multiplier. The effect of the discount income has driven the profitability, which in turn reflected also in the ROE and ROA ratios. Changes in Flexibility with the new loan Decreasing Flexibility in Managerial Decisions: The company becomes less flexible in its managerial decisions by taking up the new loan. It would be bounded by the negative covenants imposed by the new bank. These negative covenants place clear restrictions to Butler’s future managerial decisions, including investments in fixed assets and limited withdrawals of funds. Because of Butler’s conservative operating so far, he should be able to deal with these restrictions. Furthermore, Butler Lumber’s increased sales are shielded from the general economic downturn to some degree due to the relatively large proportion of its repair business. This will facilitate the maintenance of the net working capital even in a general economic downturn stage. As additional part of the covenants the bank placed importance on the net working capital. This could have positive impact to the firm’s future. As the firm is affected by liquidity problems, the covenants on net working  capital will make Butler to be more mindful about firm liquidity in midst of sales expansion. Thus, it could reduce the chance of Butler ending back with a situation of liquidity issues. Increasing Flexibility in Financial Opportunities: Because company’s business is seasonal, the financial opportunities by the new loan offer scope to balance seasonal variations. Another point is the now possible use of discounts provided by suppliers (see Increase in Profitability section). Ratios (please refer to exhibit ___) Option 1: If Butler Lumber stays with the old bank we can observe a constant value, from 1990 to 1991, for net working capital, current and quick ratio. At first glance, seems that the firm is able to cover current liabilities with current assets, but, without the inventory (which takes more time to convert into cash), the situation is completely different. The D/E increases from 1,68 to 1,72, while the interest coverage presents a value, that, even if lower, is acceptable. With regard to the profitability, the ROA and the ROE remain constant. The cash cycle increases from 64 to 72: this is due to an increase to both inventory and receivables period, even if we can observe an increase in the payable as well. Option 2: Taking the new loan lead to an increase in net working capital, mainly due to the reduction of current liabilities (in fact, despite the increase in notes payable, there is a drastic reduction in accounts payable, in order to get the discount). In this scenario both current and quick ratio improve, indicating an improvement in firm’s liquidity. The D/E decreases from 1,68 to 1,62 and the interest coverage presents an acceptable value as well. Unlike scenario (a), profitability improves in a consistent way: ROA increases to 6% and ROE increases to 16%. The cash cycle rises significantly due to the combined effect of increase in inventory and receivables period and decrease in payable. Appendices Exhibit 1: projected income statement and balance sheet Projected income statement 19901991 USD in millions, FYE 31-DecActual% of Sales Scenario a-1Scenario a-2Scenario b Net sales12,694100.00% 2,7712,7713,600 COGS Beginning Inventory326418418418 Purchases2,0422,0182,0182,746 2,3682,4362,4363,164 Ending Inventory241815.52%430430559 Total COGS21,95072.38%2,0062,0062,606 GROSS PROFIT744 765765994 Operating expenses365820.90%667667840 Interest expenses433N.A405151 Discounts 2742 NET INCOME BEFORE TAXES53 5874145 Provision for income taxes59101437 NET INCOME44 4961107 Projected balance sheet 19901991 USD in millions, FYE 31-DecActual% of Sales Scenario a-1Scenario a-2Scenario b Cash2411.52%424255 Account receivable, net231711.77%326326424 Inventory418430430559 CURRENT ASSETS776 7987981037 Property, net21575.83%161161210 TOTAL ASSETS933 9609601247 Notes payable (bank)6233N.A247407465 Notes payable (Mr. Stark)0N.A000 Notes payable, trade0N.A000 Accounts payable22569.50%2635575 Accrued expenses39N.A393939 L-t debt, current portion77N.A777 CURRENT LIABILITIES535 556508586 L-t debt750N.A434343 TOTAL LIABILITIES585 599551629 Net worth348N.A348348348 Retained earnings84961107 New Net Worth397409455 TOTAL LIABILITIES & NET WORTH933 9969601084 PLUG EFN -360162 Scenarios: -a-1 refers to projected sales of $2,771m in 1991 and a continuing relationship with Suburban National Bank -a-2 refers to projected sales of $2,771m in 1991 and a new relationship with Northrop National Bank -b refers to projected sales of $3,600m in 1991 and a new relationship with Northrop National Bank Notes: 1 Q1 1991 sales are $718m. Q1 1990 sales were 25.91% of FY 1990 sales. We assume this ratio to be constant in scenario a. In scenario b, we rely of Northrop National bank’s assumption of $3,600m sales in 1991. 2 Assumed to be percentage of sales. 3 Operating expenses includes Mr. Butler’s salary. Operating expenses are projected by decreasing operating expenses of 1990 by $95K (salary) and applying percentage of sales to the operating expenses without salary, then adding back $88K (annualised Q1 1991 salary) to get the operating expenses of 1991. 4 : As a corporation, Butler is taxed @15% on its first $50,000 sales, @25% on the next $25,000, and @34% on all additional income above $75,000.

Renaisance essays

Renaisance essays The Renaissance was a period of rebirth in the arts. Yet this does not suggest that the new techniques and styles came directly from this period but rather an integration of old methods and new. This resulted in realistic, vivid, and emotional portals in works of art. Such example is the engraving titled Adam and Eve by Albrecht Drer. It was created in c1504 during the Renaissance period. Throughout this period the ideas formed were expressed in music, the arts, and literature. Drer was a religious man like many of the Early Renaissance Artists. This engraving shows the event when Adam and Even ate from the fruit of the Tree of Knowledge. In the beginning many people were still illiterate and could not decipher the bible by themselves. So many portraits were made to become a visual bible. This black and white engraving depicts when Eve breaks off a branch from the Forbidden Tree, and Adam is outstretching his hand to accept the fruit. They are lying against the tree while the Four animals assembled around the tree. The animals are the cat, ox, rabbit, and elk. They represent the medieval idea of the four temperaments, which were the four bodily fluids that determined ones essence; their soul and destiny. Drer portrays Adam and Eve rather realistically which corresponds with the Renaissance idea of humanism. Renaissance artists decided to go back to the Greek and Roman methods of art but with a mixture of secular and religious theme. Adam and Eve are sculpted in the round, figure appears to be able to be viewed 360degrees across. Drer extensively used the concept of perspective, the representation of solid objects into the deception that they are actually three dimensional. An example in the engraving is how the trees and house farther away from the Tree ...

Acme Garage

The purpose of this report is to analyze the current structure of the system used by Acme Garage to maintain the stock, purchase, vendor and transaction details and provide the updated structure with new proposed solution. This new solution can help Acme Garage to implement a single point of contact for all kind of transaction instead of using manual books for maintain job details and access database for customer and vendor details. Acme Garage is using Job books to maintain the details for certain job with all parts details that are used in the job with the customer linked to this. Maintaining the historical data of these kind of job books is not easy. Maintaining the excel for stock is not a good idea with orders in a filing cabinet. We have provided the report with the details which are presented below:   Acme Garage is a car repair company that have 2 major section administrative and mechanics section. Kim is working in office and maintain all order, jobs, customer and stock data in different form i.e. database, excel and manual copies. Bill and ben works as mechanics in the garage and record the job data on paper with the parts used in job and labor charges. Key issues of the current system are as below: The current system is used by Kim who have understanding of computer as she used excel to maintain stock and customer and vendor access database to create, retrieve and update ,delete the data. It is easier to create the application that can use the existing customer and supplier data in backend and create new tables to store rest of data. In this we have provided the present system that will get used by Kim who will have complete understanding the PC as they will get used the excel sheet for maintaining the client and stock and access the vendor the database for accessing for deleting, updating, retrieving and creating.  Ã‚   After analyze the current system it observed that stock management process should be automate and customer and supplier database should be in a single database. Order data also be integrate with this system. Based on the new proposed system below are the ER Diagram, class diagram and DFD   Below is the class diagram which was created with the help of tables that were used in this project: Below is the updated DFD which was created with the new details of the class diagram and we have provided the relationship also:   Below is the modeling for the data that is based on the diagram of the ER and we have provided the relationship among both of them: As per the new proposed system I have identified below tables with their primary and foreign keys. Below I have provided all the table names and their data types with the foreign and primary keys:   Acme Garage needs to implement a new system to manage all transactions related to customer, supplier and job. Based on the requirements below are the functional and Non-functional requirements. Programming prerequisites determination sets up the premise for an understanding amongst clients and contractual workers or suppliers (in business sector driven undertakings, these parts might be played by the promoting and advancement divisions) on what the product item is to do and in addition what it is not anticipated that would do. Programming prerequisites particular allows a thorough appraisal of necessities before outline can start and lessens later overhaul. It ought to likewise give a reasonable premise to evaluating item costs, dangers, and calendars Functional Requirements: Most necessities definition concentrates for the most part on practical prerequisites, which are based upon the normal working of the item or framework to be made. Working regularly is compared with item/framework highlights for which you may have a menu or catch decision, for example, recognize a client, select a thing to arrange, and compute the sum due. Non-functional Requirements: Nonfunctional necessities allude to an entire slew (I've distinguished more than 30) of qualities including execution levels, security, and the different "ilities, for example, convenience, dependability, and accessibility. Constantly, prerequisites definers get wrapped up in how the item/framework is relied upon to work and dismiss these additional components. In the above we have provided both the requirements that are non-functional and functional those are used in the system.   The proposed business solution have captured the information of customer, supplier and JOB. The new system is designed in such a way that it would be able to cater below functions from UI. Below we have provided the details of the UI that can be used for the solution of the proposed business and also the reports that are used in the UI so that we will have all the details at one place.  Ã‚   The new system required some cost to be implement below is the cost calculations Total time required to implement is about 500 hours at a rate of 120$ so final cost will be 60000$. Project is viable as the cost can be recovered within a years’ time so that the project will delivered successful. Here, we have explained the feasibility and also the cost and time that are needed for the execution of the project. By looking at that we will have all the details which will used in the project.   This project can be implemented in 2 modes I choose to prefer 2 nd option to implement the solution so that KIM can access the system from anywhere and also customer and suppliers can also be access the system and setting the data and making and receiving the payment from online system. We have described about both the 2 modes in the above which can be used in the project. Further maintenance is required for the above proposed solution as this system runs over internet so below could be the maintenance requirements Acme is using manual data entry in excels and paper work with some data in database so chances of mistakes can be higher and duplicating the data is another major concerns. This new system help them in getting the correct and real time view of stock and help them in generating more revenue and interacting with suppliers and customer on daily basis. So, here we have provided the revised DFD and all the updated tables with their primary keys and types of data so that we can distinguish between older and new version. Looking for an answer 'who will do my essay for cheap',

Houston Astros and Enron Assignment Example | Topics and Well Written Essays - 750 words

Houston Astros and Enron - Assignment Example As a prominent sports team with a large fan base, it is a force to be reckoned with in the sports of American baseball which is perhaps the most popular team sports in the United States and also a major part of the American culture as a pastime when families bond together. When its sponsor Enron Corporation suddenly collapsed back in 2001, the Houston Astros found themselves in the embarrassing position of being endorsed by an organization which symbolized corporate greed. It is the aim of this brief paper to examine the options available to the said sports team and as an illustrative case study on how to properly handle a seemingly public relations disaster. Discussion Professional sports today in America and elsewhere in the world is characterized by the increasing intrusion of commercialization through corporate sponsorship in the form of company advertisements and marketing promotions. American sports organizations are privately-owned teams and as such has to be managed well like any business enterprise and has to turn a profit for its owners. In this regard, many of such sports organizations have turned to corporate sponsors to earn much-needed additional revenues to offset higher expenses in the form of maintenance of its home stadium and to pay the often-exorbitant professional players' fees. In other words, the sports team owners are in a quandary of sorts, as they have to sacrifice the purity or sanctity of sports in favor of commercial ads to make their sports teams a viable on-going enterprise. There is a prevalent practice of selling the naming rights of a stadium to a corporation for a huge fee. Problem Definition – in the case of the Houston Astros, they had sold the naming rights for their new ball park to Enron Corporation for a 30-year period to the tune of $100 million and in turn, Enron was given all the rights to put up advertisements, banners, and all sorts of the paid endorsements accruing to the Houston Astros sports team, such as the opportunity to put Enron's name on all interior and exterior signages to include even the uniforms of game-day staff. A part of the deal included spending for a luxury suite and season box seats (Jensen & Butler, 2007, p. 28). When Enron collapsed, the sports team had to find a way to dissociate themselves from it. Case Analysis – the sudden collapse was an unprecedented event in American business history for it was the largest bankruptcy filing ever and worse, Enron represented the corporate scandal involving dubious accounting practices, insider trading, and other types of malfeasance. The Houston Astros found themselves in the uncomfortable position of being associated with the company most hated by Americans who lost their jobs, pensions, and life savings. Evaluation of Case Facts – the naming rights that Enron Corporation entered into with the management of the Houston Astros was a valid business contract but the extremely bad name or reputation that Enron soo n earned after its collapse when sordid wrongdoing came to public knowledge made it untenable for the sports team to continue with the contract because it is now a public relations crises in relation to its valued publics, in particular its avid sports fans. Consideration of Alternatives – Houston Astros has to find a way to get out of the now-useless contract with Enron as the corporation is in no position to honor its end of the bargain in terms of annual installment payment for the naming rights of the stadium. The sports team has to resort to the courts to discharge it from its obligations