Complexities of the U. S. free essay sample

Money related System Vicki Cooley Joseph Arbeiter Principles of Finance Joseph Arbeiter Complexities of the U. S. Money related System Vicki Cooley â€Å"A budgetary market is a market where people and organizations are given the open door exchange monetary protections, products, and other fungible things of significant worth at low expenses and at costs that mirror the current gracefully and request. Protections incorporate stocks and securities. Products incorporate valuable metals or horticultural merchandise. † There are both general markets (where numerous products are exchanged) and concentrated markets (where just a single item is exchanged). Markets work by setting many intrigued purchasers and venders, including family units, firms, and government offices, in one spot, in this way making it simpler for them to locate one another. † â€Å"The U. S. Central bank assumes the job of controlling swelling by overseeing credit, the biggest part of the cash flexibly. The Federal Reserve has the ability to limit credit by raising financing costs and making credit increasingly costly. We will compose a custom article test on Complexities of the U. S. or on the other hand any comparative point explicitly for you Don't WasteYour Time Recruit WRITER Just 13.90/page This procedure lessens the cash gracefully, which controls swelling. † â€Å"The Board of Governors, or Federal Reserve Board, is the controlling body of the U. S. Central bank. The Federal Reserve Board, comprised of 7 individuals designated to stunned 14-year terms. The Board is permitted by both the official and authoritative parts of government to work with a lot of autonomy. The Board is responsible for administering the approaches that direct the business banking framework and assumes a significant job in setting money related arrangement. â€Å"The Board likewise directs money related foundations rights to ensure purchaser credit through the Truth in Lending Act, Equal Credit Opportunity Act, Home Mortgage Disclosure Act, and Truth in Savings Act. The Board is answerable for managing the exercises of the 37 Federal Reserve Banks, too. The 12 Federal Reserve District Banks have a reasonable level of self-rule inside their locale as far as managing business banks, directing exploration, recruiting workers, and so forth. Be that as it may, they should submit to Federal Reserve Board rules and approaches. † http://www. federalreserveboard/boardmembers â€Å"Changes in financing costs can have both positive and negative consequences for the U. S. markets. At the point when the Federal Reserve Board (the Fed) changes the rate at which banks obtain cash, this has an expanding influence over the whole economy. How Interest Rates Affect Spending â€Å"Every time a moneylender makes an advance, there is a likelihood that the borrower won't reimburse the cash. Moneylenders are remunerated for facing this challenge with premium. Premium is the measure of cash that moneylenders win when they make a credit that the borrower reimburses, and the financing cost is the level of the advance sum that the loan specialist charges to loan cash. † â€Å"The presence of premium permits borrowers to go through cash quickly, rather than holding back to set aside the cash to make a buy. The lower the financing cost, the all the more willing individuals are to get cash to make large buys, for example, houses or vehicles. At the point when customers pay less in premium, this gives them more cash to spend, which can make an expanding influence of expanded spending all through the economy. Organizations and ranchers likewise advantage from lower loan fees, as it urges them to make enormous gear buys because of the minimal effort of obtaining. † (How Do Interest Rate Cuts Affect Consumers? ) â€Å"Conversely, higher financing costs imply that buyers dont have as much extra cash and are compelled to curtail spending. At the point when higher financing costs are combined with expanded loaning guidelines, banks make less advances. This influences buyers, yet additionally organizations and ranchers, who cut back on spending for new hardware, accordingly easing back creation and diminishing the quantity of representatives. † (How Much Influence Does The Fed Have? ) | â€Å"Changes in money trade rates. At the point when the conversion scale between the outside money of a universal venture and the U. S. dollar transforms, it can increment or decrease your speculation return. Remote organizations exchange and deliver profits in the cash of their nearby market. At the point when you get profits or sell your worldwide venture, you should change over the money you get into U.S. dollars. During a period when the remote cash is solid contrasted with the U. S. dollar, this quality expands your venture return in light of the fact that your remote profit convert into more dollars. In the event that the outside money debilitates contrasted with the U. S. dollar, this shortcoming lessens your speculation return in li ght of the fact that your income convert into less dollars. Notwithstanding trade rates, you ought to know that a few nations may force outside cash controls that limit or defer you from moving money out of a nation.

Battle of Carillon in the French and Indian War

Skirmish of Carillon in the French and Indian War The Battle of Carillon was battled July 8, 1758, during the French Indian War (1754-1763). Powers Commanders English Significant General James AbercrombieBrigadier General Lord George Howe15,000-16,000 men French Significant General Louis-Joseph de MontcalmChevalier de Levis3,600 men Foundation Having endured various annihilations in North America in 1757, including the catch and devastation of Fort William Henry, the British looked to recharge their endeavors the next year. Under the direction of William Pitt, another methodology was created which called for assaults against Louisbourg on Cape Breton Island, Fort Duquesne at the forks of the Ohio, and Fort Carillon on Lake Champlain. To lead this last battle, Pitt wanted to designate Lord George Howe. This move was hindered because of political contemplations and Major General James Abercrombie was provided order with Howe as brigadier general (Map). Collecting a power of around 15,000 regulars and provincials, Abercrombie set up a base at the southern finish of Lake George close to the previous site of Fort William Henry. Restricting the British endeavors was Fort Carillons battalion of 3,500 men drove by Colonel Franã §ois-Charles de Bourlamaque. On June 30, he was joined by the general French administrator in North America, Marquis Louis-Joseph de Montcalm. Showing up at Carillon, Montcalm found the army lacking to secure the region around the stronghold and having nourishment for just nine days. To help the circumstance, Montcalm mentioned fortifications from Montreal. Post Carillon Development on Fort Carillon had started in 1755 because of the French thrashing at the Battle of Lake George. Based on Lake Champlain, close to the northern purpose of Lake George, Fort Carillon was arranged on a depressed spot with the La Chute River toward the south. This area was overwhelmed by Rattlesnake Hill (Mount Defiance) over the waterway and by Mount Independence over the lake. Any firearms emplaced on the previous would be in position to assault the fortress without risk of punishment. As the La Chute was not traversable, a portage street ran south from a sawmill at Carillon to the head of Lake George. The British Advance On July 5, 1758, the British set out and started moving over Lake George. Driven by the productive Howe, the British development monitor comprised of components of Major Robert Rogers officers and light infantry drove by Lieutenant Colonel Thomas Gage. As the British drew closer on the morning of July 6, they were shadowed by 350 men under Captain Trã ©pezet. Accepting reports from Trã ©pezet in regards to the size of the British power, Montcalm pulled back the heft of his powers to Fort Carillon and started fabricating a line of resistances on an ascent o toward the northwest. Starting with entrenchments fronted by thick abatis, the French line was later reinforced to incorporate a wooden breastwork. By early afternoon on July 6, the main part of Abercrombies armed force had arrived at the northern edge of Lake George. While Rogers men were nitty gritty to take a lot of statures close to the arrival sea shore, Howe started progressing up the west side of the La Chute with Gages light infantry and different units. As they pushed through the wood, they crashed into Trã ©pezets withdrawing order. In the sharp firefight that followed, the French were driven off, yet Howe was slaughtered. Abercrombies Plan With Howes demise, British spirit started to endure and the crusade lost force. Having lost his vigorous subordinate, Abercrombie took two days to progress on Fort Carillon, which typically would have been a two-hour walk. Moving to the portage street, the British built up a camp close to the sawmill. Deciding his game plan, Abercrombie got insight that Montcalm had 6,000 men around the post and that the Chevalier de Lã ©vis was drawing closer with 3,000 more. Lã ©vis was drawing nearer, however with just 400 men. His order joined Montcalm late on July 7. On July 7, Abercrombie dispatched engineer Lieutenant Matthew Clerk and a helper to scout the French position. They returned detailing that it was inadequate and could be handily conveyed without big guns support. Notwithstanding a recommendation from Clerk that firearms ought to be emplaced on and at the base of Rattlesnake Hill, Abercrombie, lacking creative mind or an eye for territory, set upon a frontal attack for the following day. That night, he held a board of war, yet just asked whether they should progress in positions of three or four. To help the activity, 20 bateaux would coast weapons to the base of the slope. The Battle of Carillon Representative again explored the French lines on the morning of July 8 and revealed that they could be overwhelmed. Leaving most of the armys mounted guns at the arrival site, Abercrombie requested his infantry to shape with eight regiments of regulars in the front upheld by six regiments of provincials. This was finished around early afternoon and Abercrombie expected to assault at 1:00 PM. Around 12:30, battling started when New York troops started connecting with the adversary. This drove a far reaching influence where singular units started battling on their fronts. Therefore, the British assault was piecemeal as opposed to facilitated. Battling forward, the British were met by overwhelming fire from Montcalms men. Accepting extreme misfortunes as they drew nearer, the aggressors were hampered by the abatis and chop somewhere around the French. By 2:00 PM, the primary attacks had fizzled. While Montcalm was effectively driving his men, sources are muddled with regards to whether Abercrombie ever left the sawmill. Around 2:00 PM, a subsequent assault went ahead. About this time, the bateaux conveying firearms to Rattlesnake Hill experienced harsh criticism from the French left and the post. Instead of push forward, they pulled back. As the subsequent attack went in, it met with a comparable destiny. Battling seethed until around 5:00 PM, with the 42nd Regiment (Black Watch) arriving at the base of the French divider before being spurned. Understanding the extent of the annihilation, Abercrombie requested his men to fall back and a confounded retreat resulted to the arrival site. By the following morning, the British armed force was pulling back south across Lake George. Outcome In the attacks at Fort Carillon, the British lost 551 executed, 1,356 injured, and 37 missing against French setbacks of 106 slaughtered and 266 injured. The thrashing was perhaps the bloodiest clash of the contention in North America and denoted the main significant British loss of 1758 as both Louisbourg and Fort Duquesne were caught. The fortress would be caught the British the next year when Lieutenant General Jeffrey Amhersts propelling armed force asserted it from the withdrawing French. Following its catch, it was renamed Fort Ticonderoga.

Literature Essay Example For Students

Writing Essay The Spanish Period (1565-1898) Historical Background It is an acknowledged conviction that the Spanish colonization of the Philippinesstarted in 1565 during the hour of Miguel Lopez de Legazpi the main Spanish representative general in the Philippines. Writing began to prosper during his time. This spray proceeded with unabated until the Cavite Revolt in 1872. The Spaniards colonized the Philippines for over three centuries. During these occasions, numerous progressions happened in the lives of Filipinos. They grasped the Catholic religion, changed their names, and were absolved. Their ways of life changed as well. They assembled houses distraught of stones and blocks, utilized wonderful furniture like the piano and utilized kitchen utensils. Carriages, prepares and vessels were utilized as methods for movement. They held parties to respect the holy people, the pope and the governors. They had cockfights, horse races and the performance center as methods for diversion. This offered ascend to the development of the various classes of society like the rich and the landowners. A few Filipinos completed courses like medication, law, farming and educating. Numerous Filipinos completed their tutoring previously had been set up. Striking Dates and Events 610 - Tomas Pinpin, ladino or bilingual, distributes his Spanish punctuation for the utilization of the Tagalogs. - Tomas Pinpin and Blancas de san Jose together wrote Librong Pagaarala ng mga Tagalog sa Uikang Castilla - Pinpins endeavor at stanza, and unexpectedly his strict proclivities, could be best observed in â€Å"Come Con Dios†. COME C ON DIOS O ama con dios O incredible God my dad O gran dios me padre tolongan mo acogrant help to me quered ayudarme; amponin mo acogrant me favor sedme great nang mayari itoto have the option to finish this assignment porque este se acabe at icao ang purihinand offer recognition to thee. Y a ves es alaban. April 14, 1617-The Spanish armada headed by Juan Ronquillo forestalled the British endeavor to attack Manila in the skirmish of Playa-Homda. 1627-a spearheading Tagalog versifier, Pedro Suarez Osorio of Ermita Manila. Little is known about him, either as a cleric or an author. One of his endeavors at verse was luckily saved by father Alonso de Santa Ana in his book Explicacion de la Doctrina Lengua Tagala. SALAMAT NG UALANG HOYANG Salamat ng ualang hoyang Thanks be without end Sa iyo Dios con maalamTo you god the All-knowing Nitong iyong awang mahalFor your valuable effortlessness Sa aming catagalogangiven us, your Tagalog brethren â€Å"Icao paraluman naminYou are our guide Ang sucat nga naming sundinWhom we will follow carefully Hanggang di cami dumatingTill we arrive at Sa lalawigan mahimbing. †The tranquil asylum. October 3, 1646 - For the subsequent time, the Spanish armada crushed the British warship in Manila Bay. This occasion is celebrated in a yearly gala called La Naval de Manila. 1704-Padre Gaspar Aquilino de Belen, a local of Rosario Batanggas was the principal Filipino who created and sang the pasion in tagalong and allowed by the congregation by Father Antonio del Pueblo to be engrave. 750-Pasion turning into a smash hit for a long time and it was reissued the fifth time. October 5, 1762 - The British armada vanquished the Spanish warship permitting the British principle the nation for a long time. Walk 17, 1764 - The British gave up the nation to Spain in the wake of losing a fight during the seven-year war between them. October 31, 1829 - Francisco Dagohoy, a cabeza de barangay of Bohol and the pioneer of the longest uprising (8 years), gave up to the Spaniards. September 6, 1834 - Manila was opened to universal exchange prompting a wonderful change of its economy. 861-Birth of Jose Rizal, the national legend of the Philippines. 1872-Cavite Mutiny; suffering of the three clerics: Gomez, Burgos,Zamora. 1887-Noli Me Tangere (Touch Me Not) is distributed. It uncovered Spain’s maltreatment of the Philippines just as its kin. 1888-El Filibusterismo (Subversion) is distributed. It is devoted to the memory of Father Burgos, Gomez, and Zamora. February 15, 1889 - The foundation of La Solidaridad, the paper established by Graciano Lopez Jaena to voice out the Filipinos sob for changes. September 18, 1891 - Jose Rizal completed his novel El Filibusterismo following the first, Noli Me Tangere. Both depicted the battling life of the Filipinos under the Spanish standard. July 3, 1892. Jose Rizal set up La Liga Filipina, a metro development planned for rejoining Filipinos to act together for changes and self-sufficiency from the shameful organization of the Spaniards. July 7, 1892. Jose Rizal was caught and ousted to Dapitan in Mindanao. There he filled in as a specialist, a researcher and an educator to local people. July 7, 1892. At that day of Rizal’s catch, Andres Bonifacio, Teodoro Plata and Valentin Diaz built up the Katipunan, a progressive development meant to battle for opportunity against Spain. 893-Zarzuela is presented. August 19, 1896. The Spaniards took in the Katipunan development that came about to an enormous catch of numerous Filipinos. 1896-The Cry of Pugadlawin. The Philippines Revolution breaks out. August 23, 1896. Bonifacio and his individual Katipuneros tore their cedulas or living arrangement testaments while yelling Long live the Philippines, during their groundwork for the fight to come. This was set apart as the memorable Cry of Balintawak. August 25, 1896. The Katipuneros headed by Bonifacio had their first experience with the Spanish common watchmen and infantrymen. Because of solid powers and huge nearness of the Filipino soldiers, the two camps of the Spaniards withdrew. In any case, at long last, Filipinos lost the fight when the last returned with enormous number of contenders and more grounded ammo. Setember 12, 1896. A gathering of progressives from Cavite were executed. They are currently known as teh Trece Martires de Cavite or the thirteen saints of Cavite. December 30, 1896. Jose Rizal was executed by terminating crew in Bagumbayan (presently called Rizal Park) in the wake of being held hostage at post Santiago in Intramuros, Manila. Walk 22, 1897. The Katipuneros chose another arrangement of officials to supplant the Katipunan. This was held in Tejeros, San Francisco de Malabon and was known as the Tejeros Convention. Bonifacio diisolved the show after Daniel Tirona, a partner of Emilio Aguinaldo, scrutinized his expert validity as the executive of the inside without a Lawyer’s certificate. Aguinaldo’s bunch won and considered Bonifacio and his men foes of the transformation. May 10, 1897. Andres Bonifacio and his sibling Procopio were excuted in Mt. Tala, Cavite after a treacherous preliminary headed by General. Mariano Noriel, a partner of Emilio Aguinaldo. April 23, 1897. Another Spanish Governor named Fernando Primo de Rivera showed up in Manila to limit the flourishing resistance of the Filipinos. He gave a declaration to allow acquittal to the individuals who might give up to the Spanish government. December 15, 1897. Primo de Rivera and Pedro Paterno marked the Truce of Biak-na-Bato permitting a transitory truce between the Spanish and the Filipinos. December 27, 1897. Aguinaldo and his partners willfully moved to Hongkong for the measure of P800,000. January 20, 1898. Intermittent fights between the Filipinos and the Spaniards emitted because of common doubt. General Francisco Makabulos of Tarlac set up a temporary goverment. The capture and detainment of suspected renegades proceeded and in spite of the Truce, the upset continued. US COLONIAL RULE Period of Appreniticeship (1910-1930) Period of Emergence (1920-1945) February 14, 1898 - The Spaniards bombarded the American armada Maine in Havana, Cuba executing 246 individuals. 1898 (April) The American Congress announces a condition of war between the U. S and Spain. April 25, 1898. The United States pronounced war against Spain requesting Commodore George Dewy to assault the Spanish armada in the Philippines. May 1, 1898 - Manila Bay transformed into a huge front line between United States and Spain. The Americans crushed the Spanish armada drove by Admiral Patricio Montojo. June 12, 1898 - General Emilio Aguinaldo, who had come back from Hongkong, broadcasted Philippine freedom at his house in Kawit, Cavite. August 13, 1898 - A fake fight between the Spanish and the Americans occured restricting the interest of Filipino troopers. Afterward, Manila was given up by Spain to the United States. December 10, 1898. Without the information on the Filipinos, Spain gave up the Philippines (alongside Puerto Rico and Guam) to the United States in return of $20 million under the Treaty of Paris. 1898 †(January 21) First Philippine Republic by Emilio Aguinaldo. 1898-1899 †Jose Palma composes â€Å"Filipinas†, sonnet which turned into the content of the Philippine national song of praise. January 23, 1899 - General Emilio Aguinaldo was sworn into office as the leader of the Philippine Republic and simultaneously proclaimed The Malolos Constitution. 899-Antonio Luna distributes La Independencia, a Spanish progressive writing. June 5, 1899 - General Antonio Luna was murdered by fighters from the Kawit Company in Cabanatuan, Nueva Ecija. 1899 - The Filipino American War breaks out. 1900 †President William Mckinley gives an order to the Philippine Commission making English the official vehicle of guidance in the government funded schools. December 2, 1900 - The youthful general, Gregorio del Pilar kicked the bucket while battling against the Americans in the Battle of Pasong (Tirad Pass). Walk 23, 1901 - Emilio Aguinaldo was caught by the Americans headed by Col. Frederick Funston with the assistance of certain Filipinos in Palanan, Isabela. A. SPANISH INFLUENCES ON PHILIPPINE LITERATURE Due to the extensive stretch of colonization of the Philippines by the Spaniards, they have applied a solid impact on our writing. 1. The primary Filipino letters in order called ALIBATA was supplanted by the Roman Alphabet. 2. Writing was utilized as apparatus for strict victory. 3. The instructing of the Christian Doctrine turned into the premise of strict

Study On Forecasting In Oil Well Economics Finance Essay - Free Essay Example

1.0 INTRODUCTION The quest by oil companies, stakeholders and investors in petroleum resources to reduce expenditures on oil and gas projects while at the same time increasing profit has led to increased technological development in forecasting oil well economics before investments are made on these projects. One of such developments was the introduction of a computer-based software called Petro$ in 1994 for the purpose of petroleum economics evaluation. The report which is based on forecasting of oil well economics using the petro$ software is structured in four parts to show the data the file, sensitivity analysis, an excel spreadsheet showing how the forecast can be done without using the petro$ software (a comparison of both methods) and finally a critical review of the outputs obtained from the forecasting. 1.1 FORECASTING IN OIL WELL ECONOMICS Forecasting is the process of estimating unknown situations. In simplified term, forecasting sees the present as the key to the future. Every business, economic and investment decision making rely on forecasting since the future is not known with certainty. With forecasting, the areas of uncertainty that often surround decision with respect to capital investment, sales, costs, profits, production etc is reduced. Forecasting has turned out to be one of the most relevant aspects of planning given the uncertainty that the future holds. The need for forecasting cannot be underestimated as they can help in financial, production and economic planning, workforce scheduling and most importantly decision making. In a case where an economic downturn is envisioned, forecasting can help investors cut back on their investments. On the other hand, where a bloom seems probable, investors can use far reaching measures to maximize profits. The oil and gas industry being one that is capital-in tensive with majority of her projects requiring substantial and risky investments in acquisition, exploration, operation and maintenance, rely on forecasting. The decision to invest or not in projects in the oil and gas industry usually starts with critical decision making during the exploration phase of a new project or the expansion of an already existing one. Tools used in decision making for the analysis of project risk under conditions of uncertainty help companies determine the degree of success or loss, and will determine the decision of developing or abandoning the project. The development of a detailed cash flow analyses and a comprehensive and systematic evaluation of potential investments helps determine as accurately as possible, the expected returns in the investments under various conditions of uncertainty over the expected productive life of the project. To achieve this, the development of a realistic, sound and carefully structured cash-flow projection that wil l reflect the  initial capital expenditures  needed for the acquisition, development, operations and maintenance of the new oil or gas prospect throughout its anticipated productive life is of paramount importance. (Oxford Management Centre, 2009). Judging from the fact that most petroleum projects require large scale investment, it is often important that decisions on investment be made on a complete and thorough analysis of variables and uncertainties as the ability to assess the viability of investments and the real value of oil and gas assets is very critical to success. 2.0 METHODOLOGY FOR DATA GENERATION NAD DATA FILE The results obtained in this oil well economics forecasting were generated from two data sets. The projects cost currency is in million pounds ( £m). The first set, the base case was given while the other case was generated by changing the product prices. The input data used for these cases are shown in table 1. The results returned obtained from running these inputs in the petro$ software returned amongst other output the cash flow analysis; and production and prices as shown in tables 2 and 3. 3.0 SENSITIVITY ANALYSIS It is known from intuition that majority of the variables that decides any projects cash flow could be different from the values used in the analysis and that an alteration in a key input variable will definitely result in a change in the NPV. One simple method of determining the effects of a change in one or more inputs variables in a forecast is sensitivity analysis (Investopedia).Sensitivity analysis according to Megginson et al (2008) is a tool that allows analyst assess the impact of individual assumptions on decisions variable such as a projects NPV by determining the effect of changing one variable while others are kept constant. Changes in variables are assessed one after the other to identify the key variables. In sensitivity analysis, a base-case is developed via the expected values for each input while one or more variable is altered by a number of percentage points below and above the expected value, keeping all other variables constant. The input variable used fo r this is either increased or decreased to determine the projects NPV and IRR. This is one very useful tool for determining the consequences the actual outcome of a particular variable will have if it contradicts what the key prediction(s) was. (Besley and Birgham, 2008). The net present value is extremely sensitive to changes in the variable costs and product prices, moderately sensitive to units sold and growth rate changes and least sensitive to changes in the capital and fixed costs. In a case where the the uncertainty in the project is exceptionally high, the project maybe redesigned to eliminate the uncertainty (www.adb.org). The modelled scenario shows the sensitivity of the investment to changes in the product prices. Tables 4 and 5 shows the sensitivity report of the base case and scenario case respectively. Charts showing the output of the sensitivity run are illustrated in the figures 1-15 4.1 THE CONCEPT OF CASH FLOW ANALYSIS Being a generic term, cash flow may mean different thing to different people depending on the context. Simply put, cash flow is the movement of cash in and out of a project or business. Inflows of cash in a business usually arise from either of investing, financing or operations while outflows of cash arise from expenses. Analyzing any business cash flow is aimed at keeping a sufficient cash flow for the business and to give a basis for the management of cash flow. Results from a cash flow analysis can be used for the purpose of determining a projects value (rate of return), evaluating the risks in a business or investment, and to determine the potential of a business liquidity. Cash flow analysis is a very crucial aspect of a business operation as it determines the solvency of a business. Periodic cash flow analysis makes easy the identification of cash flow associated problems and can provide ways of improving the solving the problem. As far as possible, it is very cruci al that a positive net cash flow be maintained. 4.1.1 DISCOUNTED CASH FLOW In this report, the output generated by Petro$ was used to determine the discounted cash flow. Russ Bingham (2000) in DCF models and rate of return perspective sees the discounted cash flow as an approach of assessing performance. It uses the concept of time value of money for a project or an asset valuation. Discounted cash flow is a commonly used economic modelling tool for economic forecasting purposes where the analyst calculates the present value of a companys or firms future cash flows. It uses a companys cash flow projections and discounts them using a discount rate to arrive at a present value. This present value is then used as a yard stick to determine the investment potential. Basically, a DCF analysis tells how attractive a business will be. The opportunity of investing in a business may be good if the results of the DCF analysis exceed the current cost of the investment. As opined by Hilton (1991), the net present value (NPV) and the internal rate of return (IRR) are primary methods used in any DCF analysis. A few assumptions exist on the use of DCF analysis.  Ãƒâ€šÃ‚ ´ That the analysis is done in a perfect capital market;  Ãƒâ€šÃ‚ ´ Cash flows are handled as if they were done at the end of the year;  Ãƒâ€šÃ‚ ´The analysis treats cash flows used in investment as if they were known with certainty whereas the possibility of risk adjustments can be made in an NPV analysis to account for uncertainties in cash flow.  Ãƒâ€šÃ‚ ´ NPV and IRR methods of discounted cash flow assume all cash inflows are reinvested in other projects that will earn more money for the business. Practically, Hilton admits that these assumptions are seldom met. This notwithstanding, the method provides an effective means of analysing investments. 4.1.2 NET PRESENT VALUE (NPV) The net present value (NPV) is one of the discounted cash flow evaluation techniques. Because NPV gives absolutely considers the time value of money, it is seen as a sophisticated capital budgeting method that is determined by deducting a projects initial investment from the present value of its cash inflows and discounted at a rate equals to the companys capital cost. Often called the discount rate, this rate is the least return that must be earned on a project so that the companys market value remains unchanged. (Gitman, 2003). As a rule opined by Gitman (2003), a project should be invested in if the NPV equals or exceeds zero because the company will have a return that exceeds its capital cost and this will promote the market value of the company as well as its owners wealth. On the other hand, the project should not be considered if the NPV is not greater than zero as the project will give insufficient financial benefits to justify the investment especially when there are al ternative investments that will at least provide the rate of return on the investment. Theoretically, this implies that a company will choose all projects with a positive NPV. In summary, Gitman postulates that where a problem of choosing between two or more projects that yield positive net present value exist, the one with the greatest NPV be selected. Being one of the most frequently used techniques of calculating the feasibility of capital expenditures, NPV is a useful tool in investment decision making for the reasons that:  Ãƒâ€šÃ‚ ´ it appreciates the concept of time value of money that says a dollar earned today is worth more than than a dollar earned five years from now (Odellion Research, 2006).  Ãƒâ€šÃ‚ ´ it is the only appraisal technique where the outputs from its analysis has direct link on the wealth of the business (Atrill et al pg 454).  Ãƒâ€šÃ‚ ´ it gives depth and flexibility as the NPV equation can integrate other tools of fina ncial analysis like scenario analysis as well as adjust for inflation (Odellion Research,2006).  Ãƒâ€šÃ‚ ´ it integrates the risk affiliated with the project through the discount rate or expected cash flows (Odellion Research, 2006).  Ãƒâ€šÃ‚ ´ it removes inconsistencies in accounting as cash flows are not representative of accounting profits but benefits of the project.NPV also determines the expected cash flow produced from the project and integrates the unique risk of getting those cash flows. The following are factors that limit the applicability of the NPV method.  Ãƒâ€šÃ‚ ´ It is just known that a project has a +NPV or -NPV. It does not tell by how much or less the actual percentage of return is (Atrill et al, 2006).  Ãƒâ€šÃ‚ ´ It undervalues flexibility by not giving room to future changes as new information is gathered. In other words, it uses information obtained at the time of completing the analysis to arrive at conclusions. (Odellion Reasearch, 2006). 4.1.3 INTERNAL RATE OF RETURN Also known as economic return rate (ERR), the internal rate of return (IRR) is the discount rate (interest rate) at which the NPV of all cash flows equates zero.(investopodia). It is a commonly used capital budgeting technique by financial analysts to evaluate the viability and/or attractiveness of an investment. An investment is more desirable if its IRR is high. As such, a project with the highest IRR would most likely be considered the most excellent and undertaken first amongst a least of other projects with appreciable IRR provided all factors are common amongst the projects. It is easier to judge and make decisions using output from an IRR than other financial metrics (NPV) because of the ease of understanding and interpreting an IRR result. This notwithstanding, it should not be used in isolation but in conjunction with other comparable valuation metrics and the NPV when making a case for an investment decision.

My First Lesson About Gambling - 1194 Words

Quotation What the Text Says Style/Rhetorical Choices What the Text DOES â€Å"This was my first lesson about gambling: if you see somebody winning all the time, he isn’t gambling, he’s cheating. Later on in life, if I were continuously losing in any gambling situation, I would watch very closely. It’s like the Negro in America seeing the white man win all the time. He’s a professional gambler; he has all the cards and the odds stacked on his side, and he has always dealt to our people from the bottom of the deck† (Haley 16). Malcolm X describes an early time in his life when he lived in the â€Å"ghetto† and took part in activities that included gambling and drug dealing. He connects those experiences with nationwide issues at the time: racism, discrimination, and inequality. Growing up, Malcolm had always noticed how people of the white race had a substantial amount of advantages in life. Most things seemed to work in their favor. For those of the darker race, the amount of opportunities they had was not the same; just by their appearance and color, they had immediately been placed at the bottom of society from birth and there was no possible way to rise up. Anecdote Analogy Through the use of an anecdote, the author establishes a better connection with those who can relate from his experiences. With his knowledge of gambling, Malcolm X explains how the practice of it is similar to the viewpoints of blacks towards whites during the 1930s and 1940s. The whiteShow MoreRelatedWhat Makes the Pardoner Corrupted in Geoffrey Chaucer The Pardoneer ´s Tales701 Words   |  3 Pagesand his personality. In â€Å"The Pardoner’s Tales†, he also use the word that directly describe him and what he is. His act and teaching are all from the church teaching, that means the church at that time is corrupted. 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Operations Management for Organisational Culture and Structures

Question: Discuss about theOperations Management for Organisational Culture and Structures. Answer: Organizational culture refers to a set of shared assumptions values and beliefs common to an organization (Armenakis, Brown, Mehta 2011, p. 305). It determines the way people behave towards each other in an organization. It concerns how people relate more or less ethically to each other. It determines how employees in the organization dress, act as well as the manner of performance of their jobs. An organization is constituted by different people from a wide variety of backgrounds. As a product of this an organization is likely to have some subcultures. Individuals tend to orient and see themselves as belonging to a certain group. These internal groupings lead to the creation of an organizational culture, of course, most of the time, not without elements of unity and fragmentation as well. The members of the organization identify themselves by a set of values and ideas which differentiate them from other groups and organizations. This paper explores the degree to which such organiza tional culture determines the organizational structure and its success. Strong organizational cultures foster a good working relationship with the employees at the workplace. If well executed by the management, the organizational culture guides the workers to relate ethically and morally in ways that are facilitative to the companys success. According to Samson and Richard (2010), the golden rule of do to others what you would have them do to you is a defining culture for TMT. This value of belief is also reflected in the organization's engagement with other stakeholders such as competitors, customers, suppliers and the society as well. The longstanding success of TMT over time could be attributed to this rule which is a culture derived from Espoused Beliefs Values This guides worker relationships whether in board room meetings where major decisions are made or in the day to day operations in the workplace. Organizational culture is pivotal to the excellence of the organization. It has a bearing on the organizational structure. Organizational researchers are beginning to understand that one of the major functions of leaders in business is to develop and manage organizational cultures. Although organizational cultures vary regarding scope and content, Samson and Richard (2010) postulated five variables of organizational culture. These are important determinants of the organizational structure and ultimately its performance. Communication- how receptive does one find their colleagues to be. How do they react to his/her ideas and suggestions? Motivation- is the individual motivated to come to work. Do the employees look forward to coming to work every day? What motivates the workforce? Decision-making- what is the extent of knowledge of the decision makers about the goings-on in the lower levels of the organization? Does decision making seek to understand workers plight? Control- in the various departments, what is the level of influence of the hierarchical management levels in the operations of the department? Does the workforce feel left out by the management in the organization's activities? Co-ordination-do persons working in the various departments sit down to plan activities together? Are their operations coordinated? These are variables that have a direct impact on firstly the productivity of the employ ees and overall on the performance of the department involved or the entire organization according to Peterson (2014, p. 8). The five variables of organizational culture explained above would have a definite impact on among other things, the job satisfaction of employees. Some amount of research has been directed at this area of job satisfaction as an object of organizational culture. Kessler Limor (2014) undertook a survey to look into the high voluntary turnover by IT managers and leading IT experts in the hi-Tech companies of Israel from the point of view of the IT employees themselves. They found that the effect of job satisfaction in influencing employees intention for voluntary turnover is a leading cause. Other organizational structure related factors that are pushing employees towards voluntary turnover are organizational culture, job-related, leadership and internal marketing related and Human Resource Management (HRM) Related. The findings of Kessler and Limor (2014) demonstrate a high correlation between lack of job satisfaction and voluntary turnover levels. Emotional variables associated with these include commitment, loyalty, and motivation. This calls for major organizational restructuring (among hi-tech firms in Israel) regarding organizational culture if this trend is to be reversed. Let us take a deeper look at organizational culture and public service sector. Just like profit-making organizations, public sector, which is a non-profit making entity but rather providers of public utilities also, need sound organizational cultures if they are to deliver quality services. Today, in this global era, running organizations is all the more complex. There are constantly emergencies of citizens needs that have not been there in the past as well as newly emerging conditions. If public administrations are to successfully respond to these, Armenakis, Brown, and Mehta (2011) posits that they must employ methods, procedures, and practices that are more efficient. That calls for better organizational culture. For a long time in the public sector, attitudes, behavior, and practices containing the elements of innovation and entrepreneurship are encountered as strategies that advocate for change Peterson (2014). These are areas that administrators in the public sector need to loo k at to improve the performance of the public sector in service delivery. There is a need for public sectors to evolve into a form that is more flexible, effective and efficient. Samson and Richard (2010) also submit that through appropriate management of resources, new archetypes of behavior and entrepreneurial orientation, public service providers can provide better and high-quality services hence enhancing the propensity of the community. It is vital that flexibility and autonomy in the undertakings of-of initiatives become part and parcel of the public service sector. It is essential that they develop an organizational structure and nurture entrepreneurial culture too. This will boost them in finding innovative remedies to situations focusing on human resource. Such culture according to Karyotakis et al. (2016) should rise above the legalism, formalism, inertia and overspending which is characteristic of many public entities. This is a sure way to put in place structure that will minimize red-tape, yield efficient and effective service delivery for citizens that meets the satisfaction of both the employees and the citizens. Armenakis, Brown, and Mehta (2011) also propose a cultural change process whereby objectivity, justice, and maturity are the points to social and political level. Quality, accountability, transparency, value, rules extroversion and orientation to results should be what characterize it. Every emplo yee should then exhibit this change. Employees constitute public administration and as such should be active participants in the organizational culture change process. They should embody it in their daily practices, exude it in their attitude and exhibit it in their behavior. The organizational culture and the characteristics of successful film crews provide an example of how organizational culture impacts on the performance of the organization. According to Rashidi, Nadeem, and Zakim (2017), this segment of the entertainment sector is characterized by some of the best models of organizational culture. This explains why the sector is thriving. The survey found that the workplace values of the said group are facilitative in the success of individuals and teams in this business. If organizational culture scholars were to borrow a leaf from the organizational profile exhibited by the film production crew, many organizations would perform better. Every organization is expected to impact the community. It is only possible to achieve if the organization will strike the delicate balance between the interests of its stakeholders. This means that shareholders, consumers, owners, employees and the government interests must be taken care of. According to Schein (2004), one remarkable difference between organizations that have an impact on society and those whose impact is minimal is organizational culture. It is what draws the line between the two. Organizational cultures are a product of practices and traditions created over time. They are enacted by the organization's leaders and from time to time are changed as deemed appropriate. Schein (2004) posits that organizational cultures are manifested at three levels. One way is through a set of structures and processes that are visible, rituals, dress and ceremonies which he calls cultural artifacts. Alternatively a set of formally developed and agreed upon policies, strategies or goal s also exist these are called espoused culture. Also, underlying assumptions such as thoughts, expectations, and theories can also be part of an organization's culture. Organizational structure determines the organizational structure in some ways. Research has demonstrated that organizational culture has an impact on the companys profitability. According to Denison (2010) organizations that have a culture of participation are more profitable than those that are less participative. The impact of organizational culture seems to be the similar across profit making and non-profit making organizations. Peterson (2014) sought to understand the value framework and its bearing on the performance of hospital organizations. Gregory and his colleagues found that patient satisfaction levels were higher in hospital organizations that had balanced organizational cultures than those that did not. Rashidi, Nadeem, and Zakim (2017) identified these balanced organizational cultures as those that are centered on the group, developmental, rational and hierarchical structures. Organizational culture is one of the major historical foundations of management. According to Samson, Danny Daft and Richard L. The Environment and Corporate Culture Fundamentals of Management 5th Asia Pacific Edition Chapter 2, strong organizational culture provides a basis for an organizational structure to thrive on. Organizational transformation must, therefore, be anchored and centered on organizational culture change. According to Peterson (2014) strong organizational cultures should incorporate the following areas ranging from moral, economic, to legal and philanthropic. Rashidi, Nadeem, and Zakim (2017) posit that, for organizations to assess, develop and transform an organizational culture, organizational decision-makers should be aware of and operationalize Scheins cultural elements framework. This framework categorizes organizational culture as either ethical or unethical. An organization that observes a culture that is ethical is guided in its operations to avoid unethica l business practices. This study, for instance, found that TMT was involved in the distribution of a potentially carcinogenic substance in their tobacco without rightfully declaring the potential risks to the consumers. This is a culture that is unethical and could have negative impacts on the organization's success if not reversed. In implementing a new business strategy, an organization may need to accompany this with other transformations like a change of mission statement or organizational structure changes. For a better organizational structure to able achieved the change recipients in the organizations should be allowed to participate in the change process (Armenakis et al. 2010 p. 312). Herein is the readiness model that stipulates the tactic that allows change recipients to participate in the organizational transformation. They include; enactive mastery, vicarious learning and participative problem-solving decision-making (Armenakis, Brown, Mehta 2011, p. 305). In determining the extent to which the recipients of the change have internalized and accepted the values and behaviors that come along with the cultural transformation, an assessment of the institutionalization model is carried out. According to Armenakis et al., (2016), this consists of an assessment of the change recipients reaction to the tra nsformation regarding cognitive and affective aspects and alterations in the recipients beliefs. Also, another aspect that could be included is the organizational performance criterion. Conclusion The management of global organizations today gets all the more complex day after day. This scenario is similar in both the public and private sectors. The consumer population today is characterized by ever evolving changes and is largely knowledge based. In the face of all these only an organization with strong organizational culture can put in place the right structures to navigate through this. An organization that has a strong culture that takes care of the worker's interests will retain its valuable employees for longer. This is beneficial to the firm as high rates of voluntary turnover are costly. At the same time, an organizational culture that works for the employees must also foster good working relations with other stakeholders, notably the consumers, suppliers, competitors, shareholders/owners, the society and the government. At the end of the day, the success of the organization is measured by its impact on the society. Business leaders must work towards to evolve to stron ger organizational cultures to enhance organizational performance and impact positively on the society. List of Reference Armenakis, A, Brown, S, Mehta, A 2011, 'Organizational Culture: Assessment and Transformation', Journal Of Change Management, 11, 3, pp. 305-328, Business Source Premier, EBSCOhost, viewed 10 May 2017. Kessler, L Ladelsky, L 2014, 'The Effect Of Job Satisfaction On It Employees Turnover Intention In Israe l', Annals Of The University Of Oradea, Economic Science Series, 23, 1, pp. 1028-1038, Business Source Premier, EBSCOhost, viewed 10 May 2017 Konstantinos M. Karyotakis, Vassilis S. Moustakis, L (2016), Organizational Factors, Organizational Culture, Job Satisfaction and Entrepreneurial Orientation in Public Administration, Journal of Applied Economics.13 (1), pp. 47-59, Business Source Premier, EBSCOhost, viewed 10 May 2017. Peterson, L.C 2014, Thats a Wrap! The Organizational Culture and Characteristics of Successful Film Crews. Journal of Organizational Culture, Communications and Conflict., 18 (1), pp. 89-114. 26 Rashidi, Z.S, Nadeem, A, Zakim, S 2017,Profiling Organizational Culture of Different Sectors in Pakistan IBA Business Review, 10 (1), pp.31-46, Business Source Premier, EBSCOhost, viewed 10 May 2017. Samson, D Richard L. 2010 The Environment and Corporate Culture Fundamentals of Management 5th Asia Pacific Edition Chapter 2

Common App Prompt 2 Essay Samples

Common App Prompt 2 Essay SamplesYou can use the Common App Prompt 2 essay samples to help get you going on writing your own essays. But before we go there, you may want to read about how to be successful in college, especially in that writing aspect. In particular, a great writer will know how to write essays so that they are captivating and require little reading time.One of the Common App Prompt 2 essay samples you can use for your essay is called - 'Conversation.' This is a little different from what we're used to with writing, as it takes the more traditional approach of using only two persons. It may sound as if it's easier to create dialogue but it's much easier to use two people to express the same ideas than it is to do it between more than two people. So, when you read this essay sample, keep this information in mind.The first thing you need to do is to look at the sentences. Look for words that show two individuals talking to each other. Some of the words used here are 'ad mire,' 'mumble,' 'buffet,' 'preach,' 'sins,' 'liken,' 'protest,' 'screw,' 'brag,' 'doubt,' 'believe,' 'imagine,' 'echo,' 'shiver,' 'perform,' 'compliment,' 'forget,' 'heard,' 'neglect,' 'rob,' 'grimace,' 'rhymes,' 'teach,' 'jam,' 'vandalize,' 'cringe,' 'delight,' 'dither,' 'mirror,' 'dislike,' 'humor,' 'spit,' 'attempt,' 'pity,' 'nudge,' 'humor,' 'beguile,' 'dance,' 'endure,' 'share,' 'fear,' 'pretend,' 'grin,' 'use,' 'rebellion,' 'chill,' 'catch,' 'let'worry.'The second Common App Prompt 2 essay sample that is unique in that it doesn't really fit into one section but does require reading, or perhaps writing, skills. This is called 'Flowers.' As you read through this essay sample, you may also want to look for the words 'green'noisy.'Here's the question: do you have any idea why you like to send flowers to someone who does not want flowers? What makes you happy? Do you feel that they truly understand your emotion, or do you feel that you have nothing to say to them?If you get someon e to write down their feelings for you, they will most likely express flowers because this is what they're used to doing when they are sad or happy. You will probably be able to find this kind of emotions expressed through the use of flowers. But if you are given no flowers, this is probably the worst response.Those are the two essays samples that I've listed. Although they will require you to put in some reading time, they will also challenge you to do a little thinking outside of the box. This may sound like an oxymoron, but it's something you'll have to come to terms with.When you can take those concepts and apply them to your life, then you'll be well on your way to writing a better essay. Especially with the Common App Prompt 2, I strongly recommend that you utilize these essays samples.