Business Policy Development and Implementation Critical Thinking Mod 5 Essay

Business Policy Development and Implementation Critical Thinking Mod 5 - Essay Example Encore also an expansion of Wynn Las Vegas is located adjacent to Wynn Las Vegas featuring 2,034 all suited hotel (Wynn Resort, 2013). One of the greatest operational strength of the resort lies in the hands of the founder, Steve Wynn. Wynn resorts differentiate its resort from the competitors through an idea which states, â€Å"Bigger ain’t better. Better is better.† However, as Steve Wynn is the biggest strength for the company similarly if Steve Wynn leaves the organization it shall result in failure for the company acting as weakness for the Wynn resorts and casino (Hoffman, n.d). Growth and expansion strategy Wynn Resorts has been planning to expand its business and build on new resort located on the Cotai strip in Macau and thus plans to spend about $4billion. Wynn operates in Macau as Wynn Macau and Encore and thus by expanding the resort is trying to strengthen the position in Macau. The new project aims to start off on the Cotai strip and plans to have 2000 roo ms, 10 restaurants and 500 gaming tables. Macau has grown to be the epicenter of the gaming industry across the globe with all renowned gaming companies looking for opportunity to expand in the region. According to reports of PWC the gaming market in Macau is expect to double and value at 62.2billion by 2015 (Trefis, 2012). Wynn Resorts and Casino deals in gaming and operates as one of the largest casino players in Las Vegas and other areas. So analyzing the Macau gaming industry, it should be profitable for Wynn Resort and Casino to build a resort in the Cotai Strip. Wynn expects that the Cotai Strip resort shall prove to be irresistible for the guests (Velotta, 2012). To analyze whether Wynn should pursue expansion in Cotai Strip Porters five force model has been used to support the expansion strategy and whether capital investment in the resort shall be profitable. Porters five force deals with five forces and are applied to identify the attractiveness of the industry. The indust ry here is the gaming industry and analysis is made on Macau gaming industry to analyze the future of Wynn resorts and casino. Bargaining power of buyer: The bargaining powers of the buyer refer to the ability of the customer to influence the price as well as terms of purchase. In the gaming industry the buyer power is least as it does not have any power in influencing the price. The prices are set by the companies and it does not change irrespective of any conditions. Wynn resorts plans to raise the price of the resort in Cotai Strip as compared with its other resorts. Power of supplier: The power of supplier is minimal but do not have the power to exert power over the firm and shall not crash on the profitability of the company. Threat of substitute: Threat of substitute for the gaming industry may be categorized from medium to high. But since Wynn Resorts deals in casino, the threat for the resort is relatively low. Threat of potential entrant: The threat of new entrant is low as huge capital investment is required to set up casino as they are already established players in the market. Rivalry: The rivalry is high as almost of the renowned gaming company from across the globe has been planning to expand in Macau that makes the competition even tougher in the current global economy growth rate. Conclusion Analyzing the Porters five force for Wynn Resort and Casino, it may be said that the decision taken by Steve Wynn to expand in Macau

Prescribed methods and tools can be developed for all consulting jobs Essay

Prescribed methods and tools can be developed for all consulting jobs because all Organisations eventually have the same type of problems - Essay Example he client organizations in a wide-range of sectors including finance and banking, telecoms and entertainment, government, health, utilities, energy, mining and infrastructure, retail and consumer business, not for profit/social and manufacturing (O’Mahoney, 2010). This essay aims to analyze the argument, whether prescribed methods and tools can be developed for all consulting jobs because all organisations eventually have the same type of problems, by evaluating published literature in scholarly journals and books. First, the types of management consultancies and the approaches, methods and tools they employ in relation to the various consulting jobs required by client organizations will be examined. Next, the essay will investigate consultancy-client interactions and issues, followed by conclusions The approaches, tools and methods employed by management consultancies to provide assistance to client are principally positioned in the context of organizational development and change, and fundamentally based on reactions to changing external environment (Biggs, 2010). A broader perspective on the change process which explains the overall beliefs concerning realization of a desired change is referred to as approach, whereas the term method provides operational guidance regarding effective management of the change process. The word tool describes a specific practice employed for solving a focused issue during the change process. However, since tools may be slackly connected to specific methods, same tools can be applicable in change processes under different methods. The methods and tools which prove to be effective when employed in a change process, i.e., aligned with client’s strategy and resources, determine their legitimacy. However, some consultants argue that value in the change process is created by unique knowledge and expertise of the consultant rather than the method itself (Werr et al., 1997). Due to the global transition of production-based economy to

The History And Background Of Yahoo Marketing Essay

The History And Background Of Yahoo Marketing Essay A company symbol is regarded as a unique mark or design that identifies a certain firm. In most cases, a company symbol tends to be more important than the assets of a company when it comes to the companys identification by the public. All of the international as well as regional business firms, including Yahoo, tend to have their specific company symbols, which helps them for public identification. For instance, the company symbol for Yahoo is Yahoo! (Mortensen p25). The key executives of Yahoo are committed business individuals who ensure that the firm runs smoothly in the business fraternity. Yahoos key executives include Marissa Mayer who is the Chief Executive Officer, the President, as well as the Director of the company. David Filo is the Co-Founder and Chief of Yahoo!. Kenneth Goldman holds the key position of the Chief Financial Officer. Ron Brachman is the Chief Scientist and Head of Yahoo! Labs. Finally, there is Henrique De Castro who holds the position of Chief Operating Officer at Yahoo! (Snell p31). Yahoo is an American internet corporation, which has its headquarters in Sunnyvale California. The firm was found by two individuals, David Filo and Jerry Yang, in 1994, and was incorporated in the business world in March the year 1995. Yahoo tends to generate its revenue from the display of text-based links to advertisers Websites, which is regarded as search advertising, from the display of graphical advertisements, which is regarded as display advertising, as well as from other relevant sources (Snell p33). As an internet corporation, Yahoo offers a number of products and services to its esteemed customers. The company has a strong technology and insights that helps it in the delivery of digital content and experiences across the globe and communication devices. The firm tends to provide online services and properties to its users, as well as marketing services aimed to connect with Yahoo! users. This is done through a distribution of network of third party entities. Through its search engine, Yahoo! Search, and its web portal, the firm provides services such as advertising, Yahoo! Mail, Yahoo! Finance, Yahoo! Directory, fantasy sports, online mapping, social media website, Yahoo! News, as well as Yahoo! Groups. The firm has properties, which are tailored to users in certain international markets. The properties include social networking websites (Meme and Wretch), and Yahoo! Homepage (Mortensen p69). The services offered to users of Yahoo are divided under three categories. The categories include Media, Communications and Communities as well as Search and Marketplaces. Under the Communications and Communities category, the firm offers Yahoo! Messenger, Flickr, Yahoo! Answers, Yahoo! Mail, Connected TV, and Yahoo! Groups. Services offered under this particular category enable the users to organize themselves in groups and share photos, common interests, as well as knowledge (Snell p47). The Search and Marketplaces category tends to answer the information needs of the users through the search results pages and across Yahoo!. The search offerings of the company include Yahoo! Local, and Yahoo! Search. These offerings are free of charge for the users and help them discover new content on the internet. On the other hand, the Marketplaces offerings include Yahoo! Small Business, Yahoo! Real Estate, Yahoo! Travel, Yahoo! Shopping, and Yahoo! Autos. With these properties, the company enables users to research and review specific topics or fields of interest and exchange information with parties of similar interest (Snell p49). The final category is the Media whose services are tend to engage the Yahoo users with online services and content especially on the web. The services provided under this category are free of charge to the users. Services provided include My Yahoo!, Yahoo! Finance, Yahoo! Homepage, Yahoo! Toolbar, Yahoo! News, Yahoo! Entertainment, Yahoo! Sports, and Yahoo! Contributor Network (Snell p48). In the internet business, Yahoo tends to have a number of competitors who keep the company on toes in terms of performance and service provision to the customers. The main competitors for Yahoo! include Google Inc., Acxiom Corporation, Agilysys, Inc., AOL Inc., Adobe Systems Inc, Facebook Inc, and Callidus Software, Inc. among others. These competitors tend to compete in terms of service provision to the internet users. The top competitors of the named ones for Yahoo are Google Inc., and AOL Inc (Mortensen p72). The key executives in the firm head the structure of the organization. The head of the structure is the Chief Executive Officer who is also the president of the firm. The Chief Executive Officer usually does most of the managerial activities and decisions in the firm. Other key executives who makes the top of the organization structure includes the Chief Operating Officer, Chief Financial Officer, Chief of Yahoo, and Chief Scientist and Head of Yahoo Labs. The growth and development of the firm majorly depends on these individuals (Associated Press). The management of the company mainly lies in the hands of the Board of Directors and the Key Executive members of Yahoo. The management team of the company tends to manage business at the company by ensuring that employees perform their duties as scheduled, and that the users of Yahoo receive the best products and services in the market (IFM). In 2011 September, the management team headed by the chair of the firm decided to fire the then Chief Executive Officer, Bartz. This decision was consequential in terms of business for Yahoo when a number of potential buyers came in with the idea of buying parts or rather the whole firm. In September 2012, the current Chief Executive Officer of Yahoo made a decision of closing the deal the company had with Alibaba in her managerial post. This particular deal; was controversial and it earned the company a negative image in the business fraternity. The closure of the deal affected the companys financial function in a positive way by giving the company 625 million US Dollars (IFM). In relation to sales and earnings of the key financial finding for Yahoo is that the company has been able to grow its bottom line. In the 2012, despite the stagnant revenue growth, the companys bottom line was able to grow from 1.0 billion US Dollars to 3.9 US Dollars. In the earning statement of 2012 delivered by the companys Chief Executive Officer, she stated that the firm was able to show a revenue growth in 2012 for the first time in a period of four years. The variables that tend to affect the earnings of the company include revenue, earnings per share, price to earnings ratio, and return on equity. The variables tend to change from time to time and this affects the earnings of the company (Mortensen p56). There are a number of activities and decisions that the company did to affect its financials. For instance, in 2012 during the quarter that the company made progress in its financials, it is indicated that various activities took place. The CEO stated that the executive team was reshuffled leading to its growth, there was the launching of unbelievable Yahoo! mail and Flickr mobile experiences, as well as signing of major business partnerships with the CBS Television, and NBC Sport (Snell p38). There are also a number of decisions that the company made which led to negative impact of its financials. They include signing a business deal with the Alibaba group, creation of the Yahoo! search image in 2006 that brought up sexually explicit images, and rejection of Microsoft Corporations bid of acquiring the firm in 2008 on the basis that Microsoft had undervalued it. These decisions led to the fall of the companys financials (Mortensen p81). It is with no doubt that global issues are affecting business at Yahoo. For instance, there are various global issues that can be discussed. Advancements in technology is one of the global issues that affect business at the company since it is an internet company. Many technologically advanced companies around the globe are coming up with advanced internet service provision, and this tends to keep Yahoo on toes (Belew and Joel p35). Another global issue of concern is the fact that majority of people around the globe communicate through the social medias in the internet. Since the company offers such services, increased numbers of subscribers on social networks around the globe affect business operations at the company. The company has to provide the best services to its customers (Belew and Joel p33). Challenges that Yahoo! has been facing over the years in business operation is a relevant topic that was left out. One of the main challenges that the company has been facing in the past years is poor management. For instance, until the appointment of Mayer as the Chief Executive Officer of the firm, the company had plunged into poor leadership. This is clearly indicated by the poor financial reports the company used to report in the past years (Belew and Joel p56). Another challenge that the company faced in the past, and was a great loss is the fact that the company had signed a business deal with Alibaba Group and that it had created a Yahoo! Search image that showed sexually explicit images. The company received a lot of criticism from the public, whereby it lost some of its customers (Mortensen p43).

Half My Type Regents notes :: essays research papers

The Five Themes of Geography Geography: The study of people, their environments, their resources and the interactions among them The Five Themes of Geography are: 1. Location 2. Place 3. Human Environment Interaction 4. Movement of People Goods and Ideas 5. Region 1. Location: Where something is located on the Earth’s Surface Relative – Location of Something in relation to something else (Ex: A house in relation to the street address) Absolute – An exact location of something on the earth’s surface using the lines of latitude and longitude. Longitude – The angular distance east or west of the prime meridian that stretches from the North Pole to the South Pole. Latitude – An Imaginary line joining points on the earth’s surface that are all equal distance north or south of the equator. It measures 0o on the equator and are parallel lines. 2. Place: Is and area defined by its physical and/or human characteristics. A) Physical Features – Things that would be in an area if humans never exited (Ex: Wildlife, Forest, Volcanoes, Mountains, Rivers, Oceans, Hills, Valleys, etc.) B) Human Features – Thins humans build, create, or influence. (Ex: Buildings, Crops, Cars, Roads, Cloths, Schools, Dams, Languages, Political Systems, Economic Systems, etc) 3. Human Environment Interaction: Two things can happen when humans interact with environment. A) People Change The Environment – Need to make easier lifestyle. (Ex: Roads, Buildings, Airports, Tunnels, Bridges, etc †¢Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Hidden Cost are Created – Damage to the environment. (Ex: Deforestation, Extinction, Overpopulation, Erosion, etc)   Ã‚  Ã‚  Ã‚  Ã‚  People Adapt to The New Environment – This includes Genetic Change   Ã‚  Ã‚  Ã‚  Ã‚  The Eskimo’s body adapts to Alaska harsh cold by growing an extra layer of fat, they use sleds for transportation, live in igloos that are created using ice, and wear heavy cloth.   Ã‚  Ã‚  Ã‚  Ã‚  African Tribesman use little to no clothing, no body fat due to the heat because body fat weighs you down, and they are fast and agile to get away from danger.   Ã‚  Ã‚  Ã‚  Ã‚  Chinese stir-fry cooking was developed because minimal fuel is needed. This was created to use the limited amount of fuel they had. 4. Movement of People, Goods, and Ideas   Ã‚  Ã‚  Ã‚  Ã‚  People   Ã‚  Ã‚  Ã‚  Ã‚  Migration – People move for different reasons, an example would be: Refugees (war), Economy, Climate, Food, Shelter, Religion, Persecution, Political Problems, and so on.   Ã‚  Ã‚  Ã‚  Ã‚  Immigration – People move into a country.   Ã‚  Ã‚  Ã‚  Ã‚  Emigration – People move out of a country.   Ã‚  Ã‚  Ã‚  Ã‚  Goods †¢Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Trade – Products that can be bought or sold. †¢Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Import – Goods brought into a country. †¢Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Export – Goods that leave a country. †¢Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Interdependence – Reliance on other nations to provide goods which can’t be produced in their own country.

The Express Transportation And Logistics Industry Commerce Essay

Using illustrations from FedEx Corporation and your ain research on the Global Transportation and Logistics Industry, critically evaluate the: Strategic Vision and airy Leadership behind FedEx Corporation Federal Express is a planetary express transit and logistics company that offers clients a individual beginning for planetary transportation, logistics, and supply concatenation solutions. It was founded in 1973 by Frederick W. Smith. Since its origin FedEx pioneered the express bringing industry. The company focused on the nucleus concern of express bringing and provided nightlong bringing services to the clients globally. However, the transmutation of concerns and clients from old economic system to the new economic system forced FedEx to shift itself from ‘overnight bringing service ‘ to a ‘one-stop-shop ‘ for the full logistics demand of the concern. The company became the logistics service supplier of taking organisations, like, General Motors.Background:During the late sixtiess, Frederick Smith ( Smith ) chanced upon an thought to get down an air hose messenger company. During this period, it was common pattern to direct bundles as lading on commercial b earers like American, United or Delta Airlines. This pattern had a figure of drawbacks because rider air hoses normally operated during the daylight and were grounded at dark. In add-on, cargo forwarders ( the company responsible for transporting the bundles from the airdrome to the finish reference ) normally did non offer place bringing. Smith felt the demand to get down an air hose messenger company that would turn to all these jobs. During his college old ages, he recognized that the United States was going a service-oriented economic system and needed a dependable, nightlong bringing service company designed to entirely transport bundles and paperss. He wrote a Yale term paper on this thought, and received ‘C ‘ class. His professor thought it would ne'er work. Fortunately for Frederick Smith, he did n't take it to bosom and ended up edifice that company he dreamed of.Smith found investors willing to lend $ 40 million, used $ 8 million in household money, and receive d bank funding. He started Federal Express with over $ 80 million, doing it the largest company of its clip of all time funded by venture capital. In the last 36 old ages, FedEx has expanded horizontally with its five subordinates to include FedEx Express ( once Federal Express ) , FedEx Ground ( once Roadway Package System ) , FedEx Custom Critical ( once Roberts Express ) , FedEx Logistics ( once Caliber Logistics ) , and Viking Freight. As a consequence, the FedEx household has been able to vie jointly in the express transit and logistics industries. FedEx ‘s scheme is to confirm on merchandising and synergisms for all FedEx companies, but run operations individually and maintain each company ‘s strengths and markets separate. Today, services offered by FedEx include worldwide express bringing, land small-parcel bringing, less-than-truckload cargo bringing, and planetary logistics, supply concatenation direction, and electronic commercialism solutions. Federal Express is the universe ‘s largest bundle bringing company today. FedEx began its ‘ operations with the exclusive focal point of bettering client cleavage, pricing and quality of services for the nightlong bringing market in the United States. Since so, it has grown to supply taking papers and cargo services for the full North America and for over 212 states abroad. Federal Express Corporation had the airy leading to go the first mover in the express transit and logistics industry go forthing FedEx with one beginning of distinction: their ability to assist in the control of the full supply concatenation direction. FedEx Firsts†¦ Company dedicated to nightlong bundle bringing Offer next-day bringing by 10h30 Offer Saturday bringings Offer a clip unequivocal service for cargo Money-back warrants and free cogent evidence of public presentation services that now extend to its worldwide web The company ‘s ability to utilize engineering and make its ain supply of resources has made it hard for rivals to fit the company ‘s criterions for service.FedEx has been successful chiefly because of their technological promotions. Technology has allowed them to hold superior client service and quality that was unparalleled by any company. No company was able to offer nightlong bringing of bundles with the velocity and preciseness that Federal Express did. FedEx ‘s mold capableness gave them a competitory advantage as they implemented new methods and engineering. They presently have a SuperHub with several regional hubs and bundles are managed and tracked by a system called COSMOS. COSMOS – Customers, Operations and Services Master Online System, a centralized computing machine system to pull off people, bundles, vehicles and conditions scenarios in existent clip. This system allowed clients to cognize where their bundles are at all times and was subsequently integrated for web usage, leting clients to track bundles over the Internet. In add-on, the customized bringing service of the company is alone in the market. Mission Statement The Mission Statement of FedEx is â€Å" to bring forth superior fiscal returns for shareholders, by supplying high value-added logistics, transit and related information services through focussed operating companies. Customer demands will be met in the highest quality mode appropriate to each market section served. FedEx will endeavor to develop reciprocally honoring relationships with its employees, spouses and providers. Safety will be the first consideration in all operations. Corporate activities will be conducted to the highest ethical and professional criterions † . This mission statement shows that FedEx has a clear focal point. ( 1 ) The chief focal point is to convey returns to shareholders. ( 2 ) They will stress adding value above and beyond merely their service of transporting an object from one topographic point to another. ( 3 ) Their focal point of operations will be logistics, transit, and related information. This mission statement is focused plenty to maintain FedEx from diversifying into for illustration, nutrient merchandises ; yet obscure plenty to let growing in all of those countries. A Doctrine Federal Express holds a People-Service-Profit doctrine. The ‘People ‘ end is the uninterrupted betterment of direction ‘s leading. The ‘Service ‘ criterion is 100 per centum client satisfaction. The ‘Profit ‘ end is much like any other company ‘s end, and is indispensable to long-run viability. This doctrine governs how FedEx runs its concern, and defines schemes. Federal Express Five-Point Strategy Federal Express has five schemes that govern concern tactics. These are to better service degrees, lower unit costs, set up international leading and sustain profitableness, acquire closer to the client, and keep the People-Service-Profit Philosophy. The alone FedEx runing scheme works seamlessly – and at the same time – on three degrees. Compete collectivelyA by standing as one trade name worldwide and talking with one voice. Operate independentlyA by concentrating on our independent webs to run into distinguishable client demands. Manage collaborativelyA by working together to prolong loyal relationships with our work force, clients and investors. Valuess Peoples: We value our people and promote diverseness in our workplace and in our thought. Service: Our perfectly, positively spirit puts our clients at the bosom of everything we do. Invention: We invent and inspire the services and engineerings that improve the manner we work and live. Integrity: We manage our operations, fundss and services with honestness, efficiency and dependability. Duty: We champion safe and healthy environments for the communities in which we live and work. Loyalty: We earn the regard and assurance of our FedEx people, clients and investors every twenty-four hours, in everything we do Transportation system and logistics substructure within FedEx Corporation FedEx started its operation by directing eight bundles on the first dark, of which 7 were test tally addresses from one employee to another. The company has since grown to managing an amazing 9.8 million cargos per twenty-four hours. An overview of FedEx ‘s Infrastructure: Managing 9.8 million cargos per twenty-four hours More than 700 aero planes, Daily lift capacity of 12 million kgs Servicing more than 220 states through 375 airdromes Work force of more than 140,000 lasting employees worldwide 500,000 calls are dealt with professionally With this Infrastructure and new 1s being added over clip, the Purple Promise of â€Å" I will do every FedEx experience outstanding † is achieved with the aggregation and bringing of each cargo. Physical goods when transported over trucks on a main road normally travel the most frequented paths. But as more vehicles start tracking that main road, and as the trips become longer, bundles get delayed, travel astray, arrive spoiled, or do n't get at all. To work out this job, faster, more attentive bearers with their ain hardware and substructure came into being: FedEx, UPS, Airborne Express, and so on. These new bearers pay attending to rush, tracking, charge, quality of service and mechanization. They besides devised systems that did n't go through the center of town, except for concluding bringing, and did n't alter custodies en path. And eventually, they offered tonss of optional services to do life easier for both shipper and receiver.Home bringing substructure:As portion of Infrastructure enlargement programs of its U.S. bringing web, FedEx Corp. will add another 9 distribution hubs, conveying its entire figure of hubs to 39. In add-on, a new home-delivery installation pla nned for Florida will be able to treat more than 10,000 bundles per hr. The three hubs that are under building are in Dallas, Cincinnati and Hagerstown, MD, the 4th hub in Memphis, TN. The hub enlargement undertaking will besides spread out the 30 bing hubs ; this will about duplicate the company ‘s mean day-to-day hub bundle volume capacity by the terminal of its 2010 financial twelvemonth. The enlargement undertaking will back up a crisp growing in FedEx ‘s cargos to consumers on behalf of on-line retail merchants. The new Florida orbiter distribution centre, in Pompano Beach near Fort Lauderdale, will be three times the size of the two bing installations combined, and will open with a work force of about 356 employees and independent contractors, an addition from the current combined figure of 200 employees and independent contractors. FedEx Smart Post ‘s best-of-breed engineering ensures fleet bundle processing and bringing. This engineering provides shipment visibleness throughout the bringing procedure of the bundles while they are en path to their finishs. This enables to cognize ever where the bundles are and where they ‘re traveling following. Advanced control systems, sophisticated automated sorters, and state-of-the-art data-collection devices enable FedEx to roll up elaborate information about every bundle. And the extremely adept logistics squad is to the full equipped to screen 100s of 1000s of bundles each twenty-four hours. The client tools are housed on a secure Web site, customized to run into the alone demands of each client. These tools provide seasonably entree to box bringing information, logistics analysis, manifest item, and charge statements, every bit good as the ability to make necessary studies needed in be aftering the bundle bringing scheme. As a leader in the bundle bringing industry, FedEx provides with informations and coverage needed to analyze and heighten logistics operations on an on-going footing. Virtual information substructure at FedEx Corporation. Though FedEx began as an express air bringing company in the early 1970s, it has successfully transformed itself into an integrated transit and logistics service supplier. A major portion of FedEx ‘s success is straight attributed to its committed usage of information engineering ( IT ) . IT has non merely facilitated its concern procedures like operations, client service and employee preparation but besides integrated its information web with that of its clients to supply them with seamless logistic and supply concatenation solutions. Dennis Jones, former Chief Information Officer ( CIO ) of FedEx says – â€Å" IT ( information engineering ) is a map that has a strategic value because the kernel of our concern is taking a basic service and adding information engineering services to transform into a value added merchandise. And that is really of import. Any company can travel freight from point A to point B. But the manner you make it a valuable merchandise to your client is to wrap it with intensive information engineering capablenesss † .Leveraging Information TechnologyIn the late seventiess, FedEx saw a great benefit in utilizing IT to simplify its concern procedures. Smith had really early on understood that velocity, dependability and client service was an indispensable factor for success in the planetary transit industry.IT in Human ResourcesFedEx had in topographic point Interactive Video Instructions ( IVI ) that allowed employees to take advantage of slack periods to develop themselves at any clip of the twenty-four hours. The plan was used for preparation and trial r eadying ( Customer service employees at FedEx were tested twice a twelvemonth on occupation cognition ) .IT in Customer ServiceFedEx besides used IT to better upon its client service, by supervising assorted facets of a client ‘s dealing. The end was to accomplish â€Å" 100 % truth, quality, and client satisfaction † on all minutess. One such system that FedEx used was the Service Quality index ( SQI ) that quantified every portion of a dealing like â€Å" Was the bundle undamaged? Was the client billed right? †Using the InternetThe widespread usage of the Internet from the early 1990s threw unfastened important chances for FedEx. Since the company already had an EDI based system on which it had spent a batch of money, FedEx decided to utilize a combination of Internet and the EDI. One illustration was the execution done for the buying of merchandises. FedEx purchased a merchandise from a company called Ariba. Ariba was a requisitioning system that was housed on the FedEx intranet. The system was set up so that providers could keep a database of catalogs that could be accessed by any FedEx employee. The company website hosts more than 6.3 million alone visitants per month and grips on an norm over 2.4 million bundle tracking petitions daily. More than 2 million clients connected with the company electronically every twenty-four hours, and electronic minutess accounted for about two-thirds of the more than five million cargos FedEx delivered daily. FedEx operates one of the universe ‘s largest computing machine and telecommunications networks- more than 75,000-networked computing machines and 1000s of handheld computing machines that recorded and tracked cargos. FedEx ‘s informations centre processes more than 20 million information direction system minutess daily, more than any other US company. The company is involved in linking 39 hubs across the Earth, runing 677 planes and 90,000 vehicles, supervising 200,000 employees and presenting six million bundles daily in 220 states where every second was of import. This is the ‘FEDEX EDGE ‘ , for which the company is known for. FedEx transformed both client and concern transit theoretical account with higher velocity, dependability, application of information engineering, improved stuff managing system and streamlined logistics web. The company popularized the constructs of ‘just-in-time ‘ and ‘build-to-order ‘ which reduced client ‘s lead clip and increased productiveness. Apart from embarking into ‘logistics solution supplier ‘ the company was able to keep its leading place in little bundle and light cargo market through its alone ‘hub and spoke ‘ theoretical account. The function information engineering has played in FedEx ‘s scheme is exciting. By utilizing IT as a major portion of its concern, FedEx has reached an about wholly new group of people. It has maintained its repute and increased its concern at the same clip. IT has created a greater chance for clients in the planetary market. They can now bespeak service, wage for that service, and track the bundle online. Customers no longer necessitate to talk to FedEx. They are now free to order as they need, 24 hours per twenty-four hours, seven yearss per hebdomad. Because of this, FedEx ‘s scheme has changed. It is now focused on the usage of the Internet and other technological progresss. Because this is such a critical facet of the scheme, the execution of the scheme had to be about immediate. To vie with other major concerns in the industry, FedEx had to supply a service to clients that could be accessed utilizing engineering. They besides had to supply a bundle tracking service. As they developed this service, their repute and concern grew. FedEx has done several things with its value concatenation to develop new concern. First they have ever recognized the demand to hold engineering and IT work to pass on the logistics that they run. They have developed cyberspace engineerings that work merely and expeditiously to enable clients and Sellerss to utilize FedEx as a spell between. This has enabled many companies to incorporate FedEx engineering into their ain web sites for clients to utilize.Question Two: – Stigmatization and concern construction up until 19 January 2000Using information from the instance survey and your ain research, critically evaluate the benefits and restrictions of Merger and Acquisition ( M & A ; A ) strategies in the Global Transportation and Logistics Industry. Discuss how FedEx Corporation managed the acquisition of Caliber Systems in 1998, and find whether or non the acquisition of Caliber Systems was a success or failure?Mergers & A ; acquisitions in the Transportation & A ; Logisticss industryThe Transport and Logistics ( T & A ; L ) sector is characterized by a important degree of denationalization, finance-raising and amalgamation and acquisition activity. Minutess are frequently complex and impacted by the regulative environment, competition issues, or demand for contracted subsidies to back up operations. We have witnessed many denationalizations of coach companies, ports and airdromes which have created successful private sector groups that have continued to turn via farther acquisitions. In other sections there is ongoing planetary consolidation within and between operators from the messenger, package, cargo forwarding and contract logistics arenas. Postal organisations and railroad companies that have historically been more nationally oriented are now seeking chances to spread out into cross-border markets driven by a more commercial focal point and broad regulative government.Transportation & A ; LogisticssThe Transportation & A ; Logistics ( T & A ; L ) industry forms the anchor of planetary supply ironss. Postal operators every bit good as big logistics suppliers play a dominant function as cardinal stakeholders in the T & A ; L industry. In recent old ages some former national Posts have undergone an extended transmutation to emerge as transnational suppliers of complex logisti cs and fiscal services. These evolved entities face new competition in their nucleus markets of mail bringing through the liberalisation of markets and denationalization. At the same clip, former Posts may be able to leverage their old ages of experience in roll uping, processing, transporting and presenting national and international mail in order to develop and supply a broader pallet of logistics based services, upstream with direct mail activities and downstream with bundle bringing and payment services. Further, many bing logistics and express companies have expanded good beyond simple bringing services and are now pull offing all facets of the supply concatenation. These ongoing tendencies have changed the face of an industry which has become progressively focussed on functioning clients in all parts of the universe. Amalgamations and Acquisitions: Three types Amalgamation: A dealing where two houses agree to incorporate their operations on a comparatively coequal footing because they have resources and capablenesss that together may make a stronger competitory advantage. Acquisition: A dealing where one house buys another house with the purpose of more efficaciously utilizing a nucleus competency by doing the acquired house a subordinate within its portfolio of concerns. Coup d'etat: An acquisition where the mark house did non beg the command of the geting house.Problems inAchieving SuccessIntegration Difficulties/Cultures Inadequate rating of mark Excessively much variegation Large or extraordinary debt Inability to achieve synergism Directors excessively focused on acquisitions Too big Increased market power Overcome ent entry barriers Lower hazard compared to developing new merchandises Cost of new merchandise development Increased velocity to market Increased variegation Avoid inordinate competitionAcquisitionsReasons forAcquisitionsBenefits of AcquisitionsIncreased Market Power: Acquisition intended to cut down the competitory balance of the industry Overcome Barriers to Entries: Acquisitions overcome dearly-won barriers to entry which may do â€Å" start-ups † economically unattractive Lower Cost and Risk of New Product Development: Buying established concerns reduces hazard of start-up ventures Increased Speed to Market: Closely related to Barriers to Entry, allows market entry in a more timely manner Diversification: Quick manner to travel into concerns when house presently lacks experience and deepness in industry Reshaping Competitive Scope: Firms may utilize acquisitions to curtail its dependance on a individual or a few merchandises or marketsProblems with AcquisitionsMerely a â€Å" fiscal squad † assembled and they make â€Å" the determination † ( should hold two squads: one fiscal and one organisational – where the organisational Team says â€Å" Yes † or â€Å" No † Integration Troubles: Differing fiscal and control systems can do integrating of houses hard Inadequate Evaluation of Target: â€Å" Winners Curse † command causes acquirer to overpay for house Large or Extraordinary Debt: Costly debt can make burdensome load on hard currency escapes Inability to Achieve Synergy: Justifying acquisitions can increase estimation of expected benefits Excessively Diversified: Acquirer does n't hold expertness required to pull off unrelated concerns Directors Excessively Focused on Acquisitions: Directors may neglect to objectively measure the value of results achieved through the house ‘s acquisition scheme Excessively Large: Large bureaucratism reduces invention and flexibleness FedEx Corporation has made 31 acquisitions while taking bets in 3 companies. FedEx Corporation has 22 divestitures during this period. FedEx-Caliber Amalgamation: Reason for Merger: FedEx and Caliber believe that the combination of the two companies will allow their clients to take advantage of a broader portfolio of services and picks at a degree of excellence unmatched by any rival. Stockholders of both companies will go shareholders of a $ 15 billion human dynamo in planetary transit and logistics. When FedEx announced in October 1997 that it was purchasing Caliber System for $ 2.4 billion, perceivers warned that the amalgamation could interrupt FedEx ‘s already profitable express transportation concern. Perceivers were incorrect. FedEx finalized its Caliber System amalgamation in January 1998, and by the terminal of that twelvemonth, the new company, FDX, was posting a seven per centum addition over the same one-fourth the twelvemonth earlier. Domestic income grew 30 per centum that period, from $ 168 million to $ 217 million. The company claimed that its tough cost controls and low fuel monetary values contributed to this short-run growing. FedEx subordinates that came from Caliber Systems besides grew. RPS, the largest subordinate besides FedEx, grew 14 per centum for the period, while Viking Freight grew seven per centum. In the long-run, the amalgamation strengthened FedEx ‘s overall wellness. UPS mostly rebounded from a stultifying 15-day work stoppage in 1997, and now the two companies compete head-to-head for the express-shipping concern in most markets. While FedEx does conflict, several smaller companies continue their dependable service for niche markets, such as logistics operations, business-to-business transit, overseas transportation, and little bundle bringing. FedEx has ensured its long-run endurance by purchasing several of these smaller companies. After the Caliber System amalgamation, FedEx included six runing divisions: FedEx ; RPS, the second-largest small-package transportation concern ; Roberts Express, the universe ‘s largest express hauling house ; Viking Freight, a prima regional hauling company ; Caliber Logistics, a logistics outsourcing house ; and Caliber Technology, an order fulfilment operation.Question Three: – Events taking up to the January 2000 reorg anizationUsing appropriate illustrations from FedEx Corporation, critically evaluate FedEx ‘s fiscal and non-financial public presentation in the context of developments in the â€Å" Internet market and e-tailing † up to the January 2000 reorganization.Fiscal Performance AnalysisFedEx has an impressive public presentation record. In 1998 they had grosss of $ 15.9 billion adult 15 per centum from 1997. Gross saless have been turning steadily for the past five old ages. The net income, though, is n't that impressive. It even declined in 1997, from the lifting fuel costs during that twelvemonth. However, in 1998 it grew from $ 200,000 to $ 500,000. That could be from decrease in operating costs, or from the acquisition of the subordinates which had lower operating costs compared to Federal Express. FedEx ‘s fiscal statements shows that its assets have non been utilized every bit good as other houses in their industry, but their profitableness is better than other industry houses. Still they must diminish merchandising and administrative disbursals while increasing gross revenues. Many of their technological promotions have been financed chiefly with internal hard currency, which decreases long-run debt. Future assets perchance and should be invested in the international market and new concerns, while still puting a nice per centum for technological promotions. Today FedEx has a competitory advantage over other houses and if they continue the patterns that they have in the past, while besides opening up to new thoughts, FedEx will stay a human dynamo in the bundle bringing industry. The fiscal ratios for FedEx clearly show that it is the market leader in this industry, have outstanding gross revenues, a healthy net income, and a safe sum of debt. These ratios over clip demo a steady addition, except for twelvemonth 1997, where fuel costs hurt FedEx deeply.Company AnalysisIn this subdivision we shall discourse FedEx ‘s strengths and failings as a company, chances and menaces. S.W.O.T. Analysis Company Strengths and Resource Capabilities: Globalism: Federal Express operates on a planetary graduated table in 211 states. They provide services that appeal to most of the universe, realize enormous grosss and besides achieve planetary economic systems of graduated table. Invention: Federal Express took aeroplanes and trucks and used them otherwise than any other company before them. This is invention. They have first-mover advantage in name acknowledgment because of this invention. This has helped them to stay the industry leader since 1973. Technology and Communication: Federal Express utilizations and continues to seek for new engineering. They allow passing of $ 1billion a twelvemonth, 10 % of entire grosss, for information engineering. That commitment keeps clients from exchanging to other suppliers. Federal Express besides has first-class communicating with their clients. They use tracking devices on all cargos, and clients can happen out where their cargo is through many different avenues including a user-friendly Web site. Federal Express clients are assured that FedEx will ever be on top of engineering. Strategic Vision: Federal Express ‘ will ever hold competent top directors in charge of strategic way. Frederick Smith built an industry leader, and kept it in that place since 1973. First-Mover Advantage: Federal Express has had first-mover advantage in several countries. ( 1 ) Bing a planetary express transit company. ( 2 ) Advanced engineering and communicating throughout the company ‘s operations. ( 3 ) Integrating smaller companies with similar operations under its belt to synergize and command more of the market. Strong Brand Image: In 1990, Federal Express became the first company awarded the Malcolm Baldrige National Quality Award in the service class. In 1994, Federal Express became the first planetary express transit company to obtain coincident system-wide ISO 9001 enfranchisement in international quality criterions. Federal Express has besides developed their ain quality system that matches their client ‘s criterions. Company Weaknesses and Resource Lacks: Rising Monetary values: Federal Express ‘ monetary values are above their rivals ‘ . This can be a failing if their clients do non comprehend a difference between Federal Express and its rivals ‘ services. Labor Disputes with Pilots: Federal Express pilots have formed the Fedex Pilots Association. This organisation demanded alterations in the pilots ‘ wages, retirement benefits, and the fact that Federal Express outsources some foreign flights alternatively of giving their ain pilots the occupation. The pilots have a Web site where intelligence is posted and feelings are discussed. During the busy Christmas season in 1998, the pilots threatened to strike. Federal Express and the Fedex Pilots Association have developed a probationary understanding, which is published on the pilots ‘ Web site. However, the pilots do non believe this understanding to the full meets their outlooks. This difference is decidedly an internal failing for Federal Express, sing they have 3,500 pilots employed with them. Their operations would endure if there were work stoppages. When UPS employees went on work stoppage in 1997, Federal Express took the excess 800,000 cargos a twenty-four hours. If Fe deral Express employees went on work stoppage, their rivals could derive an advantage. Runing Subordinates Individually: FDX has intentionally chosen to maintain their companies separate. In FDX ‘s 1998 Annual Report, CEO Frederick Smith provinces, â€Å" Simply layering the alone resource and operating demands of a time-definite, planetary, express-delivery web onto a day-definite, land small-package web would certainly ensue in lessened service quality and increased costs. Under the FDX umbrella, we will leverage our shared strengths while runing each bringing web independently, with each focused on its several markets. † Frederick Smith is confident this will be a strength, alternatively of a failing. Time will state. Company Opportunities: Expansion Globally: Federal Express can go on to spread out globally, including the other companies under FedEX. Expansion Internally: Federal Express can go on to get more companies, and spread out into new engineerings or countries in their industry. Run Subsidiaries Together: If FDX does n't gain from running the subordinates individually, they can alter to incorporating their operations to accomplish better synergisms and economic systems of graduated table. Contracts with Large Corporations: To remain the industry leader, Federal Express should organize contracts with companies who will add cost-saving or value-adding benefits to their services. Joint-Ventures: Federal Express can organize joint ventures, such as already with Netscape and American Express, to bask the growing of incorporating their client bases. Expansion of e-commerce: Federal Express already has a major presence of transporting online. They should maintain happening Internet companies to contract bringing of their merchandises. Since the growing of e-commerce is rapid now, Federal Express could bask both net incomes and trade name name acknowledgment from this sort of enlargement. Company Threats: Y2k Problem: If Federal Express ‘ communicating and tracking systems are n't really Year 2000 ready, they will see lost cargos, lost clients, and lost net incomes. This is a menace for every concern, but a planetary company will be affected on a larger graduated table. Community Responsibility in the U.S. : Federal Express might be capable to community disapproval in enlargement within the United States. Right now, Federal Express has programs to construct a 2nd super-hub in Greensboro, NC. The airdrome is supportive, but the citizens of the community are non. Federal Express has to make up one's mind whether the community support or constructing the centre is more of import. Relationss with Foreign States: Through Federal Express ‘ enlargements globally, they are capable to Torahs and ordinances of all foreign states. There could be major jobs in this country, stunting growing and elevation costs. Already, Great Britain will non allow Federal Express fly their ain planes for cargos. Federal Express must either lade their lading on to British planes, or usage land transit. This is really inefficient for Federal Express ; nevertheless, it keeps competition out for British Air Transportation companies. Everywhere Federal Express goes, they are at hazard for ordinances that hinder their operations or efficiency. Economic and Political Conditionss: Federal Express is capable to the full universe ‘s economic and political status in the countries of fuel monetary values and supply, client purchase of their services, and dealingss with foreign states. As a planetary company, they are capable to much more hazard than domestic companies. Industry Prospects and Overall Attractiveness A tendency among Air Freight shippers is to utilize the Internet for communicating with clients and even obtaining transporting contracts with companies selling on the Internet. This confederation with the fastest-growing industry will convey exponential growing to the Air Freight industry, above and beyond what they would usually hold realized without this. This industry would stay attractive, with concentration on competition for market portion, service distinction, and trade name image.RecommendationsBased on the company history, company analysis, industry analysis and public presentation analysis, we have the undermentioned recommendations for Federal Express. Ensure that the employees, particularly pilots, are good compensated. Since Federal Express is a service company, employees are critical to its success. Place pilots ‘ wages at or above the industry norm. They need to keep a strong presence on the Internet, in instance of a shakedown, and happen ways to do their e-commerce user-friendly and profitable. They need to maintain monetary values within 10 % of their rivals monetary values, or do certain that their clients view their service as worth the monetary value.

The Cabinet of Dr. Caligari

The Cabinet of Dr. Caligari Robert Wiene, the director of the film, The Cabinet of Dr. Caligari, combines fact and fiction in his expressionist film in effort to captivate his viewers. This film portrays the element of fantasy in that it has an imaginary realm. The film breaks the rules of realism. In the story everything is crooked and all the sets are painted. The people with authority are revealed in exaggerated high chairs; for example the police is shown sitting on one of the high chairs in the police station.Francis first turns away from reality after Allen has been murdered because of the psychological pain it causes. In order to cope with this, Francis fantasizes that he is not the target of blame for his best friend's murder by blaming Dr. Calgari. His fantasy extends to a point where he is seen as the hero by challenging Dr. Caligari and Cesare. Later on in the film, it is discovered that the dream work that Francis’s unconscious mind uses to produce this story is re lated to the Freudian dream analysis; he mechanisms and symbols to produce his fantasy.In addition, Dr. Caligari and Cesare are not real people; they are fragments of Francis' imagination and serve as objects used to place blame upon. The films ambiguous ending leaves the validity of Francis' story unknown because his illness is not explicitly confirmed. However, the Freudian theory shows that Francis has fantasized the entire story to satisfy his guilty mind.

The Purpose Is What Has Endured essays

The Purpose Is What Has Endured essays Today weve had a national tragedy. President George W. Bush spoke these words after a horrendous attack on America. As we watched bombs fly into steel and then explode, we waited to hear the advice and comfort our President would give to us. One hundred thirty-seven years ago, President Abraham Lincoln experienced a similar national tragedy for a duration of four years. Lincolns second inaugural address had to provide the United States of America with similar advice and comfort near the end of a civil war. After four years of this gory civil war, Lincoln was re-elected for the presidency of the United States. When he wrote his speech, Lincoln must have though about the past four years. The southern states had formed the Confederate States of America; a civil war had begun, and the nation had erupted in turmoil. He knew that the North wanted a harsh punishment for the southern states, but he also knew that this was one reason why the South did not like the North. As Lincolns pen starts to form the words, With malice toward none; with charity for all;...let us strive on to finish the work we are in; to bind up the nations wounds; to care for him who shall have borne the battle, his desire is to heal a broken land. Though he had signed Emancipation Proclamation, Lincoln knew that, the issues at hand could not be solved by either emancipation or armistice (203). Lincoln had to change the hearts of his people, and as William H. Seward told the president, Be sure that while all your administrative conduct will be in harmony with Republican principals and policy, you cannot lose the Republican party by practicing in your advent to office the magnanimity of a victor. (75) He had to unify the country in one speech, and this was his only chance. Both parties deprecated war; but one of them would make war rather than let the nation su...

Free Essays on Musics Important Influence

do not effect me or anybody else otherwise everybody in school would run around shooting people and doing drugs. Rappers are blamed constantly for crimes. In 1988, rapper Ice-T was under the gun from the media because of a song he wrote called, "Cop Killa". Once that song was released several police murderers said they did it because of Ice-T's song. "But is it Ice-T's fault fore these crimes, or is it the fault of the person committing these crimes against the police" (Foster 2). Foster asks an inte... Free Essays on Music's Important Influence Free Essays on Music's Important Influence Music has been around for thousands of years. Music appeals to everyone. When was the last time you have heard someone say, "I hate all music."? Lately though music has been criticized for corrupting teen's minds. Rap is being blamed for all the crimes and murders in cities all over America and heavy metal is being blamed for giving teens only dark images and thoughts in their minds. Although the media and public criticize rap and rock music and blame the music for influencing teens negatively, they actually give many teenagers an outlet from their life problems. Parents love to blame musicians like Snoop Dogg and Dr. Dre to bands like KoRn and Limp Bizkit for their child's problems. Music is an excuse for bad parenting. "One should look at the family background of the person committing the crimes" (Foster 3). Most criminals come from dysfunctional families, which would explain why a person would turn to crime in life. Another reason a person would turn to crime is being sexually abused as a young child. This would definitely cause a person to go a little crazy. When someone hears some lyrics from Eminem, they do not go out and do what he says. Lyrics from Eminem and other similar lyrics are for entertainment only. If people did whatever they heard, then everybody would be evil and corrupted I hear far worse words and phrases during school than on a rap album, and the words do not effect me or anybody else otherwise everybody in school would run around shooting people and doing drugs. Rappers are blamed constantly for crimes. In 1988, rapper Ice-T was under the gun from the media because of a song he wrote called, "Cop Killa". Once that song was released several police murderers said they did it because of Ice-T's song. "But is it Ice-T's fault fore these crimes, or is it the fault of the person committing these crimes against the police" (Foster 2). Foster asks an inte...

20 Obscure Rhetorical Terms and Figures of Speech

20 Obscure Rhetorical Terms and Figures of Speech You probably know many figures of speech, such terms as metaphor and metonymy, irony and understatement- all the rhetorical terms that you probably learned in school. But what about some of the less familiar figures and tropes? There are hundreds of them, after all.  And while we may not recognize their names, we use and hear a good number of these devices every day. So lets take a look at 20 uncommon words (most of them Latin or Greek) for some fairly common rhetorical strategies. Accismus  - Coyness; a form of irony in which a person feigns a lack of interest in something that he or she actually desires.Anadiplosis  - Repetition of the last word of one line or clause to begin the next.Apophasis  - Emphasizing a point by seeming to pass over it- that is, mentioning something while disclaiming any intention of mentioning it.Aposiopesis  - An unfinished thought or broken sentence.Bdelygmia  - A litany of abuse- a series of critical epithets, descriptions, or attributes.Boosting  - An adverbial construction used to support a claim or express a viewpoint more assertively and convincingly.Chleuasmos - A sarcastic reply that mocks an opponent, leaving him or her without an answer.Dehortatio  -  Dissuasive advice given with authority.Diatyposis  - Recommending useful precepts or advice to someone else.Epexegesis  - Adding words or phrases to further clarify or specify a statement already made.Epimone  - Frequent repetition of a phrase or questio n; dwelling on a point.Epizeuxis  - Repetition of a word or phrase for emphasis (usually with no words in between). Hypocrisis  - Exaggerating the gestures or speech habits of another in order to mock him.Paronomasia  -  Punning, playing with words.Prolepsis  - ​A figurative device by which a future event is presumed to have already occurred.Skotison  - Intentionally obscure speech or writing, designed to confuse an audience rather than clarify an issue.Synathroesmus  - The piling up of adjectives, often in the spirit of invective.Tapinosis  - Name calling; undignified language that debases a person or thing.Tetracolon Climax  - A series of four members, usually in parallel form.Zeugma  - Use of a word to modify or govern two or more words although its use may be grammatically or logically correct with only one.

Logo Programming Language Essay Example | Topics and Well Written Essays - 3000 words

Logo Programming Language - Essay Example Recursion is an alternative to REPEAT command. In general, Recursion is delineating as the process under which a function is defined in such a way that the function being defined is applied within its own definition. The term can be explained by taking a very simple example. Suppose, when the surfaces of two mirrors are placed parallel with each other the nested images that occur are a form of recursion. The great advantage of recursion is that an infinite set of possible sentences, designs or other data can be defined, parsed or produced by a finite computer program. Logo allows the recursion where a procedure calls itself. The secret of recursive programming is the same as a secret of problem solving in general that is to reduce a big problem to a smaller problem. Now to make the above program more general and flexible, we can use recursive pattern in the following way. In the above example, we use the variable word instead of word "hello" and a general relationship is defined that will transform hello into hell. That relationship is established using the keyword butlast. The above procedure becomes more meaningful using the stop rule. To implement stop rule user must answer, "What's the smallest case we want the program to handle" The answer is that for a single-letter word the downup should just print the word once. In other words, for a single-letter word, downup should carry out its first instruction and then stop. So the stop rule goes after that first instruction, and it stops if the input has only one letter: to downup :word print :word if equalp count :word 1 [stop] downup butlast :word print :word end Another application of recursion is to draw square spiral. The following is the code to draw square spiral. TO SQSPI :L IF :L > 150 [STOP] FD :L RT 90 SQSPI :L + 5 END Suppose we give a command SQSPL 100 That means he should write 100 on a piece of paper and put it in his :L pocket. IF (:L > 150) [STOP] This is "the stop condition". The turtle looks in the front of his :L pocket and sees 150. He asks himself if 100 >150. If it is, then he will STOP. It is not, so he carries on. Now "the action" is performed. First FD :L, so the turtle walks FD 100. Then RT 90. Now he has drawn this: And then "the call": SQSPI :L + 5 How can we tell the turtle to do SPIRAL again before he has finished with the first The turtle does not care. He just says I will finish the first SPIRAL later. He knows that the latest paper he put in his :L pocket is the only thing he needs to keep track of now. He saves the rest for later. : L + 5 is 100+5. That is 105. Therefore, the turtle now puts a paper with 105 in front of the other paper in his pocket. The next thing he sees is this: IF (:L >150) [STOP] This is "the stop condition" again. He looks at the paper he just put in his :L pocket. Its 105, so it is smaller than 150. Therefore he does not stop. Then there's "the action". He sees FD :L. So he walks FD 105. Then RT 90. Now he has drawn this: Then there's "the call" again: SQSPI :L + 5 He says: I will finish this later. Now I must draw SPIRAL 110. He writes 110 on a paper and puts it in front of the o

The Strategy Behind the Brand Building Essay Example | Topics and Well Written Essays - 500 words

The Strategy Behind the Brand Building - Essay Example aining attention from the increased inconsistency associated with brand planning, strategizing, and aligning processes, which result in a brand failing quickly after its launch. The study identifies the major components associated with brand identity, i.e. brand strategy attributes, brand identity elements, the target audience, and brand applications, and converts them into a visual branding tree by explaining the brand identity process and design procedure. This is invaluable to designers, marketers, researchers, and brand supervisors. It may possibly save time and money in the long run, not to mention keeping all the elements consistent with the brand management process. The brand building process is something that every business must go through to determine how to market its markets and who to. Understanding the consumer market goes a long way in deciding how a company will perform in the long run. This study is important because inconsistent brand building can sometimes confuse the audience, resulting in lost revenue and profit. The target audience should have an emotional bond and sense of belonging, which results in customer appreciation and thus customer loyalty. A brand should be presented consistently across all applications. The only way to ensure this is through comprehensive brand identity standards or systems that are easy to understand and available through both print and Web-based sources. The brand building process can often result in success for a brand. This will attract a broader customer base, and brand managers, designers, and marketers will have less confusion in the brand building

Business Organisation Assignment Example | Topics and Well Written Essays - 2500 words

Business Organisation - Assignment Example The main aim behind all these changes and sophistications was to create a system under which the business world could grow. The introduction of legalities was another aspect that played a huge role in the development of the business world. The legalities made sure that the business practices are free from any element that can hurt a belief, value, culture, norm, etc. Business can be intuited after a thorough research of the market also keeping in view the personal capability as well. A grocery store can be a good investment especially for the one who is entering the business world. The option of grocery business is selected as the chances of return in the business are high and the complexities of legal procedures and licenses, etc. are not included (Pakroo, 2012). The sole proprietorship nature of the business allows it to be started more conveniently than other forms of business. The procedure might not be easy but it is not complex either. The sole proprietorship business puts all of the responsibility on the shoulder of the owner. The unlimited liability of the owner in the business is rather challenging. Sole proprietorship business can be started without any hassle as it does not involve any formalities that large corporations require. The first responsibility of the owner to start the business is choosing a name for the business. Starting a grocery store will not involve any complexities of partnerships that big corporations require at the start of their operations. In the grocery store the requirement of acquiring a license is not included. License to sell different products may be a requirement in some cases but they can be obtained rather easily. For example to sell liquor a license is needed and it can be obtained much more easily than acquiring a license to start a business involving partners or corporations. The next step in starting a business is the selection of a name.

Answer question Essay Example | Topics and Well Written Essays - 1000 words - 4

Answer question - Essay Example y, orders used to circulate from the customers to the hands of brokers to went to the floor desk to the order desk to the executing broker to the runner and then back again, and therefore errors used to be common(Sykes, 1983). In reality, this errors cannot have an impact on the capital today. The moment an error is discovered, and as well the market is still open, it is just the role of the order desk to get out the error and finally, need to determine the fault. However, determining fault is usually easy. Perhaps, double-checks in the system should be there, primarily composed of the telephone recordings as well as duplicate orders that will tell the story. In addition, it should not have absolutely impact on capital because the moment it was determined that the broker-agent, or customer, or even the floor broker was the one at fault, they could ate the error. Also, incase the error happened at any other place in the process, and then the clearing firm needed to swallow the loss (Jackwerth& Rubinstein, 1996). The function that insurance can perform in reducing the capital impact of operational loss of a firm is highly significant. Transferring a certain risk to an insurance firm can lead to a better performance hence covering diverse losses and prevent critical situation. It has been approved that insurance can be applied as a mechanism to minimize the impact of operational losses for firms like banks, and this means that a specific insurance against risks can result to a low level of minimum capital that is allocated to a given risk category (MacMinn & Richard, 2005). In hard economic moment, organization tend not be affected as such. With the financial crisis, it has been reported on ways firms employ strategies in order to cope up with the difficulties that inevitably follow crisis in economic (Douglas& Browne, 2011 ). Scenario analysis is a strategise tool in making decision. However, it has been applied for most decades in different disciplines, that

Blog 1 Essay Example | Topics and Well Written Essays - 750 words

Blog 1 - Essay Example His work is important because he invites readers to think about the definition of the â€Å"barbarian† and how this affected international politics. From International Relations in Political Thought by Brown, Nardin, and Rengger (2002), â€Å"The History of the Peloponnesian War† aimed to faithfully narrate the causes and events of the Peloponnesian War. Boucher (1998) presented his analysis of empirical realism through â€Å"Chapter 4: Thucydides’ Peloponnesian War.† These authors have college students, who are studying politics and international history, as their audiences. Their works are important because they provide different perspectives in analyzing political history works. My question involves enthnocentricism and realism. Is ethnocentricism the main root of realism? If Spartans and the Athenians interacted more as a one cultural community, would they have avoided these anxieties against each other? Ethnocentricism is about one culture thinking that their cultural system is better than others, and it is one of the primary causes of realist thought in the Peloponnesian War. It is interesting that ancient Greeks were like the ancient Egyptians; they were colorblind in terms of their discrimination. Instead of racism, they practiced Greek-centricism, where they believed that their culture was superior to others. Keene (2005) maintained: â€Å"Blood, language, religion and custom†¦are the foundations of Greek Hellenic identity, and it is accordingly along these axes that the identity of the barbarian is conceived† (p.27). The Greeks saw themselves as the â€Å"better† race, while foreigners were seen as â€Å"barbarians.† The â€Å"Other† has become a form of Orientalism, a way of denigrating and fearing what is not known. Brown, Nardin, and Rengger (2002) noted the words of Thucydides, who believed that the causes of the Peloponnesian War are: â₠¬Å"growth of Athenian power and the fear which is caused in

How recruitment and selection are tied to strategic HRM Essay

How recruitment and selection are tied to strategic HRM - Essay Example The top management domains have long understood that if strategic HRM is properly instituted upon, there is no reason why there can be anything missing within the recruitment and selection quarters, and more so when the focus is on doing things in the most appropriate manner and bringing about value for the sake of the organization in the long term duration (Noe, Hollenbeck, Gerhart, & Wright 2009). However this is easier to suggest here because strategic HRM requires strict vigilance and control by the human resources management department and the top management within any organization. In essence, any organization would dearly require that its strategic HRM takes care of the recruitment and selection matters because this is an important provision of value and quality in the form of the employees who are inducted within the organization. Hence recruitment and selection regimes are very closely tied in with the strategic HRM aspects as discussed above. Works Cited Noe, Raymond, Holle nbeck, John, Gerhart, Barry & Wright, Patrick. Fundamentals of Human Resource Management (4th ed.). McGraw-Hill/Irwin, 2009

Blog 1 Essay Example | Topics and Well Written Essays - 750 words

Blog 1 - Essay Example His work is important because he invites readers to think about the definition of the â€Å"barbarian† and how this affected international politics. From International Relations in Political Thought by Brown, Nardin, and Rengger (2002), â€Å"The History of the Peloponnesian War† aimed to faithfully narrate the causes and events of the Peloponnesian War. Boucher (1998) presented his analysis of empirical realism through â€Å"Chapter 4: Thucydides’ Peloponnesian War.† These authors have college students, who are studying politics and international history, as their audiences. Their works are important because they provide different perspectives in analyzing political history works. My question involves enthnocentricism and realism. Is ethnocentricism the main root of realism? If Spartans and the Athenians interacted more as a one cultural community, would they have avoided these anxieties against each other? Ethnocentricism is about one culture thinking that their cultural system is better than others, and it is one of the primary causes of realist thought in the Peloponnesian War. It is interesting that ancient Greeks were like the ancient Egyptians; they were colorblind in terms of their discrimination. Instead of racism, they practiced Greek-centricism, where they believed that their culture was superior to others. Keene (2005) maintained: â€Å"Blood, language, religion and custom†¦are the foundations of Greek Hellenic identity, and it is accordingly along these axes that the identity of the barbarian is conceived† (p.27). The Greeks saw themselves as the â€Å"better† race, while foreigners were seen as â€Å"barbarians.† The â€Å"Other† has become a form of Orientalism, a way of denigrating and fearing what is not known. Brown, Nardin, and Rengger (2002) noted the words of Thucydides, who believed that the causes of the Peloponnesian War are: â₠¬Å"growth of Athenian power and the fear which is caused in

Evaluate strategies which may be used by businesses Essay Example for Free

Evaluate strategies which may be used by businesses Essay Evaluate strategies which may be used by businesses and governments to improve the competitiveness of a country’s goods and services. Competitiveness is the ability of a firm or a nation to offer goods and services that meet the quality standards of the local people and world markets at prices that are competitive and provide adequate returns on the resources employed or consumed in producing them. Governments have an important role for improving the competitiveness of their country’s goods and services. Governments are able to change regulations and taxes according to what they believe about their country’s state of economy. For example, a government may decide to decrease the corporation tax in order to improve the competitiveness of a country’s goods and services. A decrease in the corporation tax will encourage new firms to set up and existing firms to invest. Corporation tax is a levy placed on the profit of a firm with different rates used for different levels or profits. They are taxes against profits earned by businesses during a given taxable period. If there is a decrease in the corporation tax, it means that firms will have an increased retained profit since less money goes to the government revenue. This will allow firms to use this money to improve competitiveness. More spending on investment will be possible which will increase productivity. If the firms invest on capital goods such as machinery that will benefit the firm by producing at lower cost, then the firm might able to set lower prices in order to improve price-competitiveness. For example the UK government reduced the headline corporation tax rate from 30% to 28% in 2007 Budget. Reducing corporation tax increased the retained profits for UK firms that can plough back into investment projects. This should help to boost the UK capital stock. It should also help the UK to keep attracting foreign direct investment which improves the competitiveness furthermore since British firms may gain from the advanced technology and innovation of foreign multinationals. (Technology transfer) However, if the government decreases corporation tax, there might be some firms that decide to save the retained profits instead of spending on investment. This might be because there is a period of recession and firms might find it risky to invest. In addition many firms have chosen not to reinvest as they have been more concerned with making short term profits rather than investing in the future. If firms choose to save rather than invest their retained profits, a decrease in the corporation tax wouldn’t improve competitiveness. Another measure to improve competitiveness is to increase government spending on education and training. If the government can improve the quality of teaching in schools and universities and encourage more people to go to university, then this should lead to increase in productivity of the workforce in the future. Greater productivity will lead to greater efficiency in firms which will in turn lead to lower average costs of production. This may improve the price competitiveness of UK goods and services. In addition it would improve the non price competitiveness since a more educated workforce is likely to be able to be more creative and innovative. Greater innovation should lead to better quality products and the creation of patents, copyrights, brands etc. However, increased spending on education and training by the government does not always lead to increased global competitiveness. It will depend greatly on exactly how the money is spent. For example expenditure for improving school buildings or Ofsted inspections may not necessarily improve the effectiveness of the teachers and the quality of education. On the other hand spending on training teachers and advancing their professional development, might be a more effective means of improving educational standards in the future and increasing productivity. However even in this case the effects are not likely materialise until the longer term. Another way in which the government can improve the non price competitiveness and price competitiveness in international markets is to encourage innovation and research. Tax allowances have been made available to businesses spending on innovation and research. However, there has also been a variety of programmes which enable some businesses to gain grants for research and development R D and to set up knowledge transfer networks and universities. Such measures are likely to be more successful than tax cats since firms are given incentives to research and development through receiving tax concessions and from making connection to universities where they have the opportunity to learn about the latest scientific and technological advancements. On the other hand businesses, are able to introduce a variety of measures to improve the competitiveness of the goods and services. These include increasing the level of investment on new technology, on staff training, on ICT, etc . One way by which businesses might improve the competitiveness of their goods or services is by increasing the spending on R D. By increasing the spending on R D, businesses will most probably benefit from product and process innovation. If a business manages to create a unique and different product than the rest products in the market, it would be able to compete much more easily since consumers will prefer to buy the most innovated and technological updated products. For example Steve Job’s firm, Apple spent $758 million on RD during the first fiscal quarter of 2012. If we take Apple as an example which is one of the most profitable companies, we clearly see that it has benefited from the heavy spending on R D. It has come up with products such as the iPhone where the sales reached the number of 98,144,000 in the first three quadrants of 2012. However, some businesses prefer not to spend on R D because they do not think about the longer term. Also there are other firms that fail to spend on R D. For example the procedure of R D may result in no innovative products or procedures that will improve competitiveness and therefore. Another way, by which businesses might improve competitiveness, is by improving productivity. Productivity is the output per worker. There are different ways by which productivity can be improved. For example if the firms increase the wages, workers might be motivated to work harder. Also, training can improve the knowledge and skills of staff. Improved recruitment and selection may have the same effect which will increase productivity in the short term. If the business increases spending on training, workers will be more educated and informed about their job. This will increase the productivity since they will be able to produce more output at the same working hours and wages. If the productivity is increased, it means that more output will be produced at relatively the same costs. This will allow the firm to get bigger in size, lower the running and operational costs, increase income and gain a greater share of the market. This will increase both price and non-price competitiveness. However productivity doesn’t always improve competitiveness. For example if training isn’t done effectively, and workers do not give attention or really care about the job, then they won’t improve their knowledge and skills, training will not improve productivity, and therefore productivity will not improve competitiveness. In addition, productivity might not improve competitiveness because in the case of increasing the wages in relation of the output the worker producers, there are workers that wouldn’t be motivated by an increase in their salary and therefore will not produce a greater output. Productivity can be used as a measure to improve competitiveness only if it is used correctly and it can increase both price and non-price competitiveness. It can improve price competitiveness by allowing the businesses to set lower prices and improve non-price competitiveness by expanding as a firm and increasing its popularity.

Zea Mays Mendelian Inheritance Pattern

Zea Mays Mendelian Inheritance Pattern Mendelian Genetics Rough Draft Hypothesis I (Theory of Segregation) At anaphase I of meiosis, gamete formation causes a separation of alleles in a diploid organism. When the chromosomes separate each individual will receive an equal chance of inheriting a dominant or recessive allele from the mother or father. Because an albino and green offspring were observed within the same generation, the parents must be heterozygous since two recessive alleles must be inherited by the offspring to express a recessive albino trait following Mendels 3:1 (green: albino) ratio. Hypothesis II (Theory of Independent Assortment) During metaphase I of meiosis, the allele pairs of different genes will independently segregate from each other during the formation of gametes. The inheritance of an allele is independent of other pairs of alleles due to random alignment of chromosomes. Because there were two heterozygous plants for both height and color and were crossed, their offspring will follow Mendels ratio of 9:3:3:1. Materials Methods Obtaining and Maintaining Corn To assess the inheritance patterns of Zea Mays (corn plants) that contain chlorophyll and no chlorophyll and whether the phenotypes height is normal or dwarf in green or albino plants, the study was conducted at Pacific Lutheran Universitys Carol Sheffels Quigg Greenhouse. The trays of corn plants were monitored under artificial lights, controlled temperature, and watered by a student worker for approximately two weeks. Determining Green vs. Albino Seven trays of monohybrid corn plants were observed, and the height and color were used to describe the plants phenotype. Determining Normal vs. Dwarf Green vs. Albino Five trays of dihybrid corn plants were observed to distinguish between green and albino from normal and dwarf. For the dihybrid cross, they were observed using the inheritance of two genes, color, and height. The normal green height plants are dominant presented themselves as tall, spread out, and leaves were narrower, whereas the albino normal height plants are recessive and were portrayed as thin, lack of chlorophyll, and were wrinkly. The green dwarf plants had chlorophyll and were shorter, whereas the albino dwarf plants displayed a wrinkled texture and brown leaves. If some of the corn plants displayed brown or died over the course, they were omitted from this experiment. Data Analysis Determining the phenotypic ratio of the dihybrid cross, of the normal green height as well as green-dwarf, albino-normal height, and albino-dwarf seedlings, their predicted frequencies were determined using a Punnet square to calculate the possible genotypes and albino offspring to be present. Once these were determined, they were computed to conclude the frequencies for the monohybrid and dihybrid cross through a Chi2 test to get the expected and observed values. Results Table 1: Compares heterozygous seedlings that display the predicted number of green (G) and albino (W) when observing the phenotypic traits of chlorophyll and non-chlorophyll plants by Mendels first law of Segregation, (N=424) Zea Mays. Phenotype Predicted # of offspring Observed # of offspring G (chlorophyll) 318 354 W (non-chlorophyll) 106 70 The observed values were close to the phenotype prediction in the monohybrid cross, 75% displayed a dominant trait, and 25% a recessive trait. The expected and observed, (X2= 12, df = 1, p > 0.05), were not statistically significant. Table 2: Compares the predicted and observed phenotypes of green normal and dwarf height and albino normal and dwarf height offspring phenotypes as predicted by Mendels Theory of Independent Assortment to the number of observed phenotypes. Phenotype Predicted # of offspring Observed # of offspring Green / Normal Green / Dwarf Albino / Normal 152 51 51 151 71 15 Albino / Dwarf 16 34 Observed traits of normal vs. dwarf green plants and albino plants, the phenotypic frequencies expected value did not follow Mendels ratio of 9:3:3:1. The observed values, (X2 = 53.5, df = 3, p Conclusions   Ã‚   Our study supports the Mendelian inheritance pattern of Zea Mays that both the parent strains on the monohybrid cross (Table 1) were heterozygous. The expected and observed, (X2= 12, df = 1, p > 0.05), were statistically significant with Mendels first law of segregation expressing green or albino following the phenotype ratio of 3:1. Whereas, the parent strains on the dihybrid cross (Table 2) the observed values for the albino normal and albino dwarf (X2 = 53.5, df = 3, p

The Oedipus Complex in Galatea 2.2 :: Galatea 2.2 Essays

The Oedipus Complex in Galatea 2.2 Helen is in love with Powers; Powers is in love with C.; C. only wants to forget about Powers. This may sound like a soap opera, but in fact it is the love triangle present in Galatea 2.2. This love triangle mirrors Freud's Oedipal Complex almost perfectly. According to this theory, Richard Powers is Helen's mother. Like a mother he created her and then taught her how to think for herself. Also in this role reversal of the Oedipal Complex, Helen assumes the role of Power's son, and C. portrays the absent father. The twisted version of the Oedipal Complex presented in Galatea 2.2 explains the interaction between Powers, Helen, and C. as that of a family, and throughout this depiction the Dialogical Method enhances this image. In the story of Oedipus he kills his father and then marries his mother. Galatea 2.2 does not present Helen as committing such an outrageous act. C.'s absence in Helen's life does mirror the absence of Oedipus' father during Oedipus' marriage to his mother. Helen never has one on one interaction with C. Her only knowledge of C. is through the love letters that Powers reads to her. It because of this that Helen begins to view C. as a hindrance to her own relationship with Powers. According to Freud, the son wishes to dispose of the father in order to have the attention of the mother solely to himself. This creates a very peculiar relationship to say the least. Of course, Powers' relationship with Helen is anything but common. She is after all a computer. He begins their relationship as her teacher. He has a mother's love for Helen because in her he sees something that he has toiled to create. Powers sounds like a parent when he speaks of Helen's singing. At one point he describes her voice as, "...an extraterrestrial warble, the way deaf people sing" (198). This does not sound like a sweet sound. The words "music to my ears" are not present in any description of Helen's singing. Powers knows that Helen cannot carry a tune, but he cannot bear to convey this message to her. He says, "I didn't have the heart to tell her how unbearable this music sounded" (235). There are very few parents that would actually inform their child about a lack of talent in a certain area.

Another Civil War :: essays research papers

Socioeconomic reasons for the causes and outcome of the Civil War Analyzing the causes and the eventual outcome of the American Civil War can be a difficult task when you look at all the issues at once. The fields of the political, economic and sociological differences between the Union and the Confederacy are were we find the bulk of the answers as why the two regions of the United States separated. When trying to discuss the Civil War we must first explain why the Confederate states seceded and just as importantly, how they were defeated. When trying to find the causes and the outcomes of the Civil War, I've chosen to bypass the political reasons and would rather discuss the areas of economic and sociological conflict. It is hard to discuss one of these aspects without showing how closely it is tied into the other. Economy is the child of sociological conditions and in turn sociological conditions predict an areas economic success and potential. Because of this strong interrelationship between the two, the word "socioeconomic" is best suited to describe this important area of conflict between the North and the South. Almost a question of civilization versus barbarism the war between the North and the South showed America who held more power and whose way would lead us into a future for all Americans. The North and South were divided along an invisible economic line. States in the North were more industrialized than states in the South. In the South, cotton and tobacco provided the economy. These plantation crops created an economic situation based entirely upon agriculture. This was in stark contrast too the heavily industrialized Northern cities in America. Slave labor provided the workforce on the Southern plantations and along with crops were the backbone of Southern economic power. Slave labor, which turned the wheels on the vast plantations growing tobacco and cotton, created an entirely different socioeconomic climate then the one found in the North. The inherent conflict between the progressive, industrialized, urbane North and the plantation lifestyle, made possible by cotton, tobacco and slave labor, ultimately revealed a nation sharply divided along socioeconomic lines. The Civil War or "the war between the states", was the inevitable outcome of a developing nation uncertain as to whether it should remain progressive and industrialized or genteel and slowmoving. Unquestionably, the tobacco economy of the South as well as its cotton products were of vast importance to the entire nation. Still, the social structure of plantation life with its legacy and dependency upon slave labor, would not be tolerated by Northern states for much longer. A continued cry for emancipation and abolition by president Lincoln and

Series 7 Study Guide

Chapter 13 Investment Company ( ) Investment Companies A corporation or trust in which investors pool their funds and are usually organized as corporations in the same manner as any other business corporation. However, some have been established as trusts and as such are supervised by trustees rather than dir ? Diversification Advantages of Investment ? Professional Management Company ? Liquidity The basic legistration governing investment company and difines and classifies investment companies into 3 basic types. ? Face Amount Certificate Company The Investment Company Act of ?Unit Investment Trust(UIT) 1940 ? Management Company The Act requires all investment companies with 100 shareholders or more to register with the SEC. A public offering may not be made by a mutual fund until it has a minimum net worth of $100,000. New shares are registered by the fund periodically, usually Type of Investment Companies Face Amount Certificate Issues debt certificates offering a predetermined ra te of interest. Holders are entitled to redeem Company their certificates for a fixed amount on a specified date.Investment companies with no management fee and low sales charges that invest in a fixed Unit Investment portfolio of municipal or corporate bonds are categorized as UIT. The funds are issued in book (UIT / ) entry form and registered form. Established under an indenture or simil Manage a portfolio of securities in accordance with specified investment objectives. Each day, usually at the end of trading on the NYSE, a management company will determine the value of its Management Company portfolio or the net asset value(NAV) per share. ? Closed-end ? Does not issue redeemable shares ? Open-end ?Issues redeemable shares Usually capitalizes through a 1-time public offering of shares and may issue commom stock, Closed-end Investment preferred stock, or bonds. The company does not continuously issue shares nor will it redeem its Company shares. The market price of closed-end funds will be based on the f Also called mutual fund. They are continuously issuing new shares which they stand ready to Open-end Investment Company redeem. All shares issued are common shares ONLY. Instead of 5% policy, sales charge will be applied. Management(investment advisory) fees are normally the largest Chapter 13Types of Mutual Funds Diversified Common Stock Funds Income Funds Balanced Funds Bond Funds Money Market Funds Bonds and Preferred Stock Funds Specialized Funds Operation of a Mutual Fund Board of Directors Investment Companies Consists mostly of common stocks. The funds can have a variety of investment objectives. One might be conservative and invest primarily in blue-chip stocks. Another might be more aggressive and invest primarily in growth stocks. Have as their investment objective high current income. Maintain some proportion of their assets in bonds and preferred stock as well as in common stock.Invest their assets solely in bonds and have as their objective stability of income. Invest in short-term debt(money market) instruments. A typical money market fund invests in CP and CDs. They generally pays the interest to the investors monthly. Invest in senior securities, both bonds and preferred stock. Their objective is current income with safety of principal. Invest a large proportion of their assets in a particular industry such as the chemical industry. Elected by the mutual fund shareholders and are responsible for developing and implementing investment policies.According to the Investment Company Act of 1940, at least 40% of the board of directors must be unaffiliated with the mutual fund. Unless authorized by majority vote of its shares, an investment company may not; ? Go from diversified to non-diversified ? Change its investment objectives and concentration of investments ? Borrow money, underwrite securities issued by others, make loans, buy or sell real estate ? Change the nature of business so as to cease acting Must be sent to stockholders semiannually. Mutual funds sell ex-dividend whenever the fund or its principal underwriter(sponsor) determines.The ex-dividend date for a mutual fund is usually the same day as the record date. Contracted by the fund to issue new shares and cancel redeemed shares for the fund. Normally also in charge of the disbursement of dividend and capital gain distributions and performing other bookkeeping. Responsible for the safekeeping of the securities owned by a mutual fund. Mutual funds must have a national bank, trust company or other qualified institution act as its custodian. He holds the cash and securities of the fund but does NOT perform any mana The principal underwriter of the fund.He has an exclusive agreement with the fund which allows him to purchase fund shares at the current NAV. The shares may then be resold to the public, through outside dealers or the sponsor's sales force, at the full Shareholder Rights Financial Report Dividend of Mutual Fund Transfer Agent Custodian Sponsor(Distributor) Chapter 13 Section 12b-1(The Investment Company Act of 1940) Investment Companies Though a sponsor is used and bears the cost of sales of literature and other promotional items, under certain situation, selling expenses may be borne by the fund. Chapter 13 Dealers Investment CompaniesMust have a signed selling agreement with the sponsor. They are fobidden to purchase mutual fund shares for inventory. But they can do so only to fill customer orders or for their own investment. If a dealer who has purchased shares for investment decides Manages the fund's portfolio. Re. management of a mutual fund, securities on margin, participate in a joint account, or sell short securities may not be permitted in general. Investment advisory contracts must be approved by a majority of the fund's share Total Expense / Average Net Assets NAV + Sales Charge = NAV / (100% – Sales Charge Percentage) = $10. 0 / (100% – 7%) = $10. 75 Total Net Asset / Number o f Shares Outstanding Orders to buy and sell the fund are based on the next price to be computed. Sales Charge / Public Offering Price = $1. 57 / $19. 60 = 8% Based on public offering price. According to the NASD's Conduct Rules, the maximum allowable percentage is 8. 5%. In the sale, there is no sales charge though is redemption fee(i. e. 1%). To charge the maximum 8. 5% sales charge, the mutual fund must offer i To be sold to the public at the NAV, without any sales charge added. No-load fund may charge a liquidation fee when an investor sells the fund.Dollar levels at which the sales charge is reduced. Amount Deposited Sales Charge Percentage Less than $10,000 8. 5% $10,000 – $25,000 7. 5% $25,000 – $50,000 6. 0% Enables an investor to qualify for the discount made available by breakpoints without initially depositing the entire amount required. LOIs are NOT binding on the investor and only available to single purchaser. The letter states the investor's intention T hose people who are eligible for sales breakpoints and LOI, which includes a joint account only between husband and wife.Partnership, investment clubs and joint accounts are NOT eligible for reduced sales charges or LOI. Investment Advisor Expense Ratio Buying Mutual Fund Shares Public Offering Price(Asked Price) Net Asset Value(NAV / per share) Buy and Sell the Fund Sales Charge Percentage No-load(N. L. ) Funds Breakpoints Letter of Intent(LOI) Single Purchaser Chapter 13 Voluntary Plans Dollar Cost Averaging (Constant Dollar Plan) Dollar Averaging Redeeming Mutual Fund Shares Redemption Investment Companies Require an initial minimum investment.The investor will indicate an intention to invest a minimum amount at fixed intervals, such as montly or quarterly. Fixed dollar amount is invested periodically. Fixed share amount is invested periodically. Redemption fee is calculated based on NAV. Mutual funds are required under the Investment Company Act of 1940 to pay the proceeds of re demption within 7 calendar days. The SEC can order or allow, upon the request of a fund, that redemption be suspended fo ? Fixed-dollar Types of Withdrawal Plans ? Fixed-percentage ? Fixed-share Taxation of Mutual Fund Distributions Earnings for Investment ?Investment income(dividends & interest on the securities) Companies ? Capital gain Investors will receive a Form 1099 to report distributions for income tax purpose. They may elect to Form 1099 take distributions from mutual funds in the form of reinvested shares rather than in the form of cash. Investment Income Dividends & interest on the securities. Taxable to the investors as ordinary income. When an asset is sold for more than its cost, the result is a capital gain. ? Long-term gains ? Result from the sale of assets held for more than 1 year / taxed as capital gain Capital Gain ? Short-term gains ?Result from the sale of assets held for 1 year or less / taxed as ordinary income Capital gains are taxed at the individual's tax rate, up to a maximum of 20%. Holders of one fund in the group may have an exchange or conversion privilege allowing them to Exchange Privilege convert to another fund of the same manager at the NAV. Investment companies can avoid paying taxes on income since they are eligible for special tax Taxation of Investment treatment under Subchapter M of the Internal Revenue Code. This special tax treatment is called Companies the â€Å"conduit† or â€Å"pipeline† treatment.Avoid triple taxation which would occur if the mutual fund paid taxes. The companies held in the fund's portfolio pay corporate income taxes and the investor pays taxes on dividends received from the fund. Therefore, taxes payable on dividends and interes Conduit / Pipeline Chapter 13 Conduit / Pipeline Investment Companies Corporatoi n in Portfolio Mutual Fund Dividen Investors Regulated Investment Companies The investment companies that meet certain requirements under Subchapter M are considered to be re gulated investment companies. Chapter 13 Reporting Requirements 300% Asset CoverageInvestment Companies Annual report must be sent to the SEC and semiannual reports must be sent to the shareholders. Investment Company Rules and Regulations Management companies(open-end & closed-end) are subject to 300% asset coverage to control their leverage, therey reducing risk. NASD Rules on Investment Companies Selling Fund Shares NASD members may not purchase fund shares at a discount from an underwriter unless the underwriter is also an NASD member. This effectively restricts non-member underwriters from distributing their shares through NASD firms. NASD members must transmit payApplied to the practice of inducing an investor to purchase a mutual fund on the basis of an impending dividend. The investor was induced to buy the stock based on the impending dividend. However, had the investor waited until ex-dividend date, the price Occurs when a registered representative does not inform a custom er about the availability of a Breakpoint Sale sales breakpoint or a LOI. The Anti-Reciprocal Rule of the Prohibits member firms from selling open-end investment company(mutual fund) shares because NASD of commissions received or to be received from the investment company.An underwriter of investment company shares is prohibited from giving a member firm any Special Deals discount above the one specified in the selling agreement for the sale of the shares. If a RR retires, he or she may continue to receive commissions for sales of investment company Continuing Commissions periodic payment plans initiated prior to the retirement if there was a bona fide contract with the person's firm to receive such commissions. Selling Dividends Chapter 13 Investment CompaniesInvestment Company Advertising and Sales Literature SEC Rule 134 Permits the publication of a simple ad describing the basic features of a new issue. Permits the use of ad that describes, in general terms, how investment compa nies work. The SEC Rule 135A communication must be limited to information re. investment companies in general, or to the nature of investment companies. Permits the publication of an investment company ad that satisfies the definition of a prospectus SEC Rule 482 under certain conditions. This ad may NOT contain an application ot invest in the investment company.SEC Rule 156 Sales Literature Real Estate Investment Trust(REIT) Tax Treatment Difference between Appreciation & Capital Gain Warns that sales literature would be considered misleading if it 1)contained an untrue statement of material fact, 2)omitted a material fact that was necessary to make a statement not misleading. Any sales literature re. redeemable investment company securities must be filed with the SEC within 10 days of use. Similar to an investment company but is not considered to be a type of investment company.He manages a portfolio of real estate oriented investments to earn profits for investors. To qualify as a REIT, a company must be set up as a domestic corporation m REITs are the favorable tax treatment given under the REIT Act Amendment to the Internal Revenue Code of 1954. If 95% of the ordinary income generated from the portfolio is distributed to investors, REIT is taxed only once. Appreciation : An increase in the market price of a security from the purchase price. Capital Gain : Recognized when the security is sold and the appreciation is realized.