Case report

Case report Introduction In the world of business nothing limits the quest of stakeholders in venturing into satellite businesses which are either related or not. The extent of diversification is unlimited hence; some businesses are broadly diversified while others are not. The degree of diversification apart, the worthwhile of the venture is what matters.Advertising We will write a custom case study sample on Case report Sara Lee Corporation specifically for you for only $16.05 $11/page Learn More Companies branch out with an aim of increasing revenues to enable them to grow. However, at times, like the case of Sara Lee Corporation, may eventuate in low revenues and as such, stakeholders need to strategize and come up with a blueprint of rejuvenating a business. With that respect, Thompson, in his six steps of evaluation of the performance of a company sheds light on how one can evaluate and strategize thus reversing the downward trend of a company. In order to compre hend the case of Sara Lee Corporation and hence evaluate the successfulness of its retrenchment initiatives, a synopsis through the company’s history briefly highlights the major talking points. Sara Lee Corporation is a multifaceted business venture that incorporates diverse businesses that range from foodstuffs to non foodstuff products. Over the years though, the company has been grappling with the idea of increasing its revenues through acquisition and, to a lesser extent through divestiture realizing insignificant change. However, the year 2005 which saw the appointment of one Brenda Barnes as the CEO marked the turning point of the company. With his ambitious plan to further curtail the broad business venture such that they concentrate on household, beverage and food did transform the company big time. Even though this would initially decrease the revenue by $7.2 billion, it was projected that the long term benefits will see this translate to revenue gains. As such, to be specific, it was projected that by the year 2010 the revenue would grow by $14 billion. This would translate to a profit margin of 12% relative to an 8.1% prior to the retrenchment strategy in the year 2004. However, by the end of 2010 fiscal year the company fell short of meeting its projected target hence remained blurred with respect to the degree of shareholders benefits. The company had realized a revenue growth of $10.5 billion and a profit margin of 8%.Advertising Looking for case study on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More If not sufficiently enough, CEO Barnes further engaged her divestiture strategy with the ‘International Household and Body Care business’ receiving the brunt in the very year. Concurrently, the company continued with its ‘Project Accelerate’ which was launched in the year 2008 with an aim of enhancing supply chain effectiveness as well as overh ead cost reduction. This one made significance changes realizing $180 million savings in the fiscal year-end 2010 and, even projected to save a further $170-$220 million in the year 2012. As at the end of the year 2010 CEO Barnes reign was unexpectedly brought to a halt due to illness. This paved way for Smits who buttressed Barnes strategies by focusing mainly on the company’s strongholds to increase its revenues. As such, while reaping on the anticipated benefits of ‘Project Accelerate,’ Smits focused on venturing heavily on the company’s most powerful brands as well as hunting growth in the most attractive geographical market segments. Diversification is a vital venture in any business since it enhances the spread of risk across the industries. A company that invests in one business stands risks of collapsing economically courtesy of economic crunch or technological innovations more than a diversified business. Apart from risk protection diversification enhances growth in shareholder value. Therefore the diversification strategy lies squarely on the top managerial brass who determines the route to venture-either related or unrelated businesses. Corporate managers in the helm of diversification strategy have responsibilities that eventually determine the success of a business. As such; they need to evaluate and decide on which new path of industries to enter, they need to do a self assessment of the company in order to measure its capability in terms of capital, and gauge the influence of the company’s brand on the new industry. Clear answers to these questions will definitely enable the management whether to engage in acquisition, mergers, or divest. Moreover, the management has the responsibilities of evaluating and identifying opportunities that will enhance the performance of the single business units as well as the whole business at large. The corporate managers should acknowledge that these ventures should be such that they gain from the resources accrued from the larger company hence building competitive advantage.Advertising We will write a custom case study sample on Case report Sara Lee Corporation specifically for you for only $16.05 $11/page Learn More Finally, the corporate managers should be in a position â€Å"to build sustainable competitive advantage by leveraging cross-business value chain relationships and strategic fits. Diversification into related businesses allows companies to gain economies of scope in value chain activities† (Ansoff, 1965). Thompson evaluates a company’s diversification strategy stepwise through six outlines that include: â€Å"industry attractiveness, business-unit competitive strength, competitive advantage potential of cross-business strategic fits, resource fit, performance prospects for business units and assigning priority for resources allocation, and formulating new strategic moves to improve corporate performan ce† (Andrews, 1987). A thorough analysis of each step will gauge the successfulness of Sara Lee Corporation. Industry attractiveness Industry attractiveness centers on a very wider picture of a company’s diversification. To begin with, managers should take the initiative to evaluate the attractiveness of their industries in order to gauge if they stand at a potentially attractive industry marketwise. As such, the managers should be in a position to evaluate the progress of their respective industries thus; they should tell whether the industry is developing, stagnating, or waning. Vitally, knowledge of the competitive forces within the industry will enable one to weigh the degree of success (Ansoff, 1965). With regards to Sara Lee Corporation, CEO Barnes realizes that she can increase the company’s revenues by concentrating more on the market segments which are most promising. As such, she chooses to shelve satellite business which faced stiff competition. She go es ahead with her retrenchment strategy that finds ‘Direct selling, U.S retail coffee, European apparel, European nuts and snacks, European rice, U.S meat snacks, European meats and Sara Lee branded apparel’ on the wrong side of her strategies. Even though Barnes acknowledges that her strategies would shrink revenues initially, her projected long term benefits were her source of motivation. Hence, by the fiscal year-end 2010, though short of her target, Barnes financial analysis reflects a significant growth. She falls short of her target by $ 3.5 billion and 3.5% for revenues and profit margins respectively. Barnes prioritizes Sara Lee Corporation’s business ventures according to the order of their attractiveness marketwise. As such, she concentrates majorly on baked products, meat and beverage products. As at that juncture she concentrates more on increasing their market shares thereby increasing the profit margin. Seemingly, she realizes that engaging more in food related industry is a worthy undertaking.Advertising Looking for case study on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More In particular, baking industry registered increased sales from $91 million to $2.1 billion in a span of 5 years from the year 2003. This elevated its market share astronomically to 8.2% of the US market for packaged bread. This is exhibited by the graph below of the trends of the growth in income from continuing operations for both unrelated and related businesses respectively. Graph 1 The first year (2004) represents the year prior to Barnes reign. As illustrated by the graph above, the unrelated businesses were actually operating at losses-$350 million and $190 million dollars respectively for the first two years. However, in the fiscal year-end 2006, these companies realized a profit of $246 million dollars before taxes. As predicted before by Barnes after her optimistic plans, she realized declined profits initially as portrayed by the graph above (year 2008). The profit margin reduces by $161 million dollars initially but peaks later to $1.093 billion in the year 2010 pending taxes. Cumulatively for the three years the unrelated businesses realized losses before taxes amounting to $294 million. In the contrary, the related businesses registered cumulative profit for the last three years amounting to $1.792 billion. This in comparison with the unrelated businesses is a clear indicator of the positive impact of Barnes retrenchment strategies. Thus, in order to harness the maximum benefit from her biased strategy in reference to related businesses, she ought to work on streamlining the value chains and marketing strategies. Business unit competitive strength After a successful evaluation of the attractiveness of a business venture it is vital for managers to comprehend the competitive strength of the same. Basically this means getting to know where you position your business relative to other competitors in the same industry. As such, one will be in a better position to tell the strengths and flaws of a business diversification portfolio. This comes in hand y when focusing on resource allocation as well as in decision making which determines whether to diversify or to divest (Watts, Copes Hulme, 1998). Sara Lee Corporation ranked high in food stuffs specifically in baked products in the year 2010. As such, the company channeled some more resources to these products. Most notably is the ‘North American Fresh Bakery division’ which for a very long time held the top rank in hotdogs and hamburger buns. This, prompted the company to negotiate with retail supermarkets to increase their display spaces to accommodate more products. Consequently this saw to it an increase in shelve spaces that propelled its weekly sales to triple its initial in supermarkets where more spaces were allocated. Concurrently, as she tussles with strengthening her strongholds Barnes divested other businesses that are seemingly less lucrative. On the receiving end were among others ‘Direct selling.’ This increased focus that would later tran slate to the growth of the company’s revenues and profit margin in the year 2010 though short of its projections. Checking for cross-business strategic fits A business is considered attractive strategically and stands to score high in terms of market share when its value chains are related with a firm’s other satellite businesses that offer opportunities to: realize economies of scale thereby enhancing cost-saving efficiencies, enhance the transfer of technology from one enterprise to the other, leverage use of a company’s assets to enhance differentiation and, take advantage of cross-business association to come up with novel resources and competitive competence. Cross-business strategic fits â€Å"represents a significant avenue for producing competitive advantage beyond what any one business can achieve on its own† (Barney, 1991). As a CEO, Barnes acknowledges the need to cut on the operational costs hence she launches ‘Project Accelerate’ in the year 2008. Overhead reduction apart, Project Accelerate was launched with an aim of enhancing supply chain efficiencies in order to benefit from the creation of a competitive advantage. This project made significance changes realizing $180 million savings in the fiscal year 2010 and, it was even projected to save a further $170-$220 million in the year-end 2012. Although initially the company had taken the advantage of the reputation of its established name to venture into other businesses that rendered it diverse, their costs of operations further outweighed their revenues. As such, Barnes opted to engage in divestiture rather than acquisition to remain focused in the industries where she could reap huge revenues. Analyzing resource fit One of the advantages that diversification adds to a company is that it strengthens the resources of the company. As such it can be deduced that there is a correlation between these resources and the key success factors under which the indus try operates (Barney, 1991). However, even with this advantage, caution should be taken such that the available resources suffice all the facets of the businesses lest it â€Å"spreads itself too thin† (Li et al. 1999). Companies with related diversification approach boast resource fit when its satellite businesses boost its resource position and when their resource requirements match â€Å"at the value chain level† (Thompson Gamble, 2011). On the other hand, companies pursuing otherwise (unrelated diversification approach) boast the same when they have the capacity to suffice their unrelated businesses without straining its resources. Initially, Sara Lee Corporation had spread its diversification strategies from related to unrelated businesses. Barnes opted to proceed with her retrenchment initiative strategy so that she can shelve some businesses both related and unrelated that were nonstrategic. As such, on top of her priority list of retrenchment is ‘Direct selling’ which she sold in the year 2005 at a profit margin of $ 97 million. This company dealt in cosmetics, fragrances, toiletries, apparel and other household products to consumers. Between the year 2005 and late September 2006 she manages to divest 8 businesses that sees her discard entirely all her unrelated businesses to render her focused on lucrative ventures-food, beverages and households. Barnes believes that Sara Lee Corporation would be successful when it focused its finances and management resources on a few businesses showing promising market prospects. Consequently as at the fiscal year-end 2010 she realizes a revenue increment of $ 10.8 billion and a profit margin increment of 8.5%. This though falls below the projection and as such she further engages in her retrenchment strategy with ‘International Household and Body Care’ receiving the matching orders. This company-an affiliate and unrelated, dealt with among other products shoe care products ( Kiwi). Concurrently, she directs resources to initiate Project Accelerate on the remaining businesses to boost its output by reducing operational costs. Grading the prospects and assigning resources to Sara Lee Corporation affiliate businesses. From the synopsis of the history of Sara Lee Corporation, a venture into a food-related industry would definitely increase its revenues and profit margins. She invests majorly in â€Å"five food-related businesses that include: North American Retail, North American Fresh Bakery, North American Foodservice, International Beverage and International Bakery† (Thompson Gamble, 2011). From the analysis of the financial report during the stint of CEO Barnes, her initiative realized growth in the company’s operating income pending taxation. During her reign, from the years 2008 to 2010 she realized operating income growth from continuing operations of almost 12 folds before income taxes. From the financial report, taking 2008 as the ba se year, North American Foodservice recorded a massive growth from incurring a loss ($324 million) in the year 2008 to recording an income of $125 million pending income tax. As such more resources should be awarded to this company since it has the potential of amassing huge profit margin. Next in the priority list in resource allocation is North American retail which recorded a 132% growth in operating income prior to tax reduction. This should be followed by International Bakery which even though was still operating at a loss; it showed potential of amassing huge profits in the long run. It recorded a 96% growth. Fourth in the list of preference should be International Beverage which registered insignificant growth of 7.4% over the last three years from the year 2008. Finally, North American Fresh Bakery should come last since it recorded a loss of 20% during the same period. The graph below gives the trends of different businesses during the three year period. Graph 2 Considerin g the trend of North American Foodservices from the best line of fit, the steepness of the trend is so pronounced than the other trends. This portrays a business with a greater potential to grow. Following the same criteria, it is evident that the rate of steepness increases positively in the following order: International Beverage, International Bakery, North American Retail, and North American Foodservices. However, the North American Fresh Bakery had a negative slope. Consequently, it can be concluded that the potentiality of the businesses increases with the order of steepness. The negative slope as exhibited by North American Fresh Bakery represents a loss hence, this shouldn’t be allocated much resources. Crafting novel strategic approach to improve performance With the status quo the company is bound to increase its income revenues though in the long run this would be negligible, or stagnate. It is therefore, if need be, prudent for the stakeholders to diversify into f ood-related industry since this is the industry where the company has the prospects of growth. More resources should be channeled to the remaining businesses to ensure that the company has a lion’s share of the market. To achieve this then the top managerial brass should consider developing competitive abilities. As such, they should consider: innovating novel products, brand-building capabilities, and competitive pricing. Also, the company needs to work on acquiring new accounts with already established/new discount store customers and supermarkets. To achieve this then the company ought to improve on category management and influence. With regards to specific businesses particularly the North American Foodservice, Sara Lee Corporation should strive at taking the advantage of its goodwill with respect to meat and baked products coupled with the changing trend of the American eating habit to win the market share for its novel and established products. On the other hand, North American Retail needs to channel more resources on branded products which showed greater preferences with respect to customers in order to reap the benefits of economies of scale. As such there is need for increased production of Hillshire Farm smoked sausage, Ball Park franks, Jimmy Dean smoked sausage, Sara Lee Frozen desserts, State Fair corn dog and, Senseo single-service coffee makers and coffee pods. This should be replicated to the other businesses in their respective strongholds to steer the company to greater heights above other companies. Conclusion In a synopsis, it can be concluded that CEO Barnes retrenchment strategy was a success since the company was able to register positive results in terms of growth later. She was able to concentrate resources in the businesses with greater prospects of growth to realize the positive results. This can be strengthened more by working on the ways to boost its market share further in order to reap the benefits of economies of scale. Venturing into related businesses comes with it benefits that accrue from synergies in that the integrated businesses sum up strongly as one. Furthermore, it enhances a company to grow and exploit the benefits accruing from core competencies. However, with her strategy to invest in related businesses Barnes stands more risks than when she would have invested otherwise. This could be due to fluctuations in preferences and costs of the products in the industry ventured. References Andrews, K. (1987). The Concept of Corporate Strategy, New York City: McGraw-Hill Companies Inc. Ansoff, I. (1965), Corporate Strategy, New York City: McGraw-Hill New York Barney, J.B. (1991). Firm resources and sustained competitive advantage. Journal of  Management, 17, (1), 99-120. Li, S. et al. (1999). A framework for a hybrid intelligent system in support of marketing strategy development, Marketing Intelligence Planning. Journal of marketing strategy, 17, (4), 10-15. Thompson, A., Gamble, J. (2011 ). Case 2011: Sara Lee Corporation- Has his  Retrenchment Strategy been successful? Birmingham City, UK: University of Alabama. Watts, G., Cope, J., Hulme, M. (1998). Ansoffs Matrix, pain and gain: Growth strategies and adaptive learning among small food producers. International Journal of Entrepreneurial Behaviour Research, 4, (2), 9-18.

Basic Parts of the Brain and Their Responsibilities

Basic Parts of the Brain and Their Responsibilities The scarecrow needed it, Einstein had an excellent one, and it can store a whole lot of information. What is it you say? Why, the brain of course.  The brain is the control center of the body. Think of a telephone operator who answers incoming calls and directs them to where they need to go. Similarly, your brain acts as an operator by sending messages to and receiving messages from all over the body. The brain processes the information it receives and ensures that  messages are directed to their proper destinations. Neurons The brain is composed of specialized cells called neurons. These cells  are the basic unit of the nervous system. Neurons send and receive messages through electrical impulses and chemical messages. Chemical messages are known as neurotransmitters and they can either inhibit cell activity or cause cells to become excitable.   Brain Divisions The brain is one of the largest and most important organs of the human body. Weighing in at about three pounds, this organ is covered by a three-layered protective membrane called the meninges. The brain  has a wide range of responsibilities. From coordinating our movement to managing our emotions, this organ does it all.  The brain is composed of three main divisions: the forebrain, brainstem, and hindbrain. Forebrain The forebrain is the most complex of the three parts. It gives us the ability to feel, learn, and remember. It consists of two parts: the telencephalon (contains the cerebral cortex and corpus callosum) and the diencephalon (contains the thalamus and hypothalamus). The cerebral cortex allows us to understand the mounds of information we receive from all around us. The left and right regions of the cerebral cortex are separated by a thick band of tissue called the corpus callosum. The thalamus acts as a telephone line of sorts, allowing information to get through to the cerebral cortex. It is also a component of the limbic system,  which  connects areas of the cerebral cortex that are involved in sensory perception and movement with other parts of the brain and  spinal cord.  The hypothalamus is important for regulating hormones, hunger, thirst, and arousal. Brainstem The brainstem consists of the midbrain and the hindbrain. Just as the name suggests, the brainstem resembles the stem of a branch. The midbrain is the upper part of the branch that is connected to the forebrain. This region of the brain sends and receives information. Data from our senses, such as the eyes and ears, are sent to this area and then directed to the forebrain. Hindbrain The hindbrain makes up the lower portion of the brainstem and consists of three units. The medulla oblongata controls involuntary functions such as digestion and breathing. The second unit of the hindbrain, the pons, also assists in controlling these functions. The third unit, the cerebellum, is responsible for the coordination of movement. Those of you who are blessed with great hand-eye coordination have your cerebellum to thank. Brain Disorders As you can imagine, all of us desire a brain that is healthy and functions properly. Unfortunately, there are some who suffer from neurological disorders of the brain. A few of these disorders include: Alzheimers disease, epilepsy, sleep disorders,  and Parkinsons disease.

An Analysis of the History and Development of the European Union Essay

An Analysis of the History and Development of the European Union - Essay Example This study focuses on the development of the European Union on account of integration. The European Community was constituted, in order to restore peace in Europe subsequent to the Second World War. It was formed with the sole objective of preventing war, and to bring about peace and friendship between the inimical countries of Europe. To this end, efforts were made to not only establish better relations between France and Germany, but also to reintroduce Germany into the comity of nations as a responsible and competent state. This move was undertaken, principally, to strengthen Western unity, which helped to establish unilateral action that dispelled the fear of retaliation by the Eastern countries. Therefore, the fundamental objective of establishing the European Community was to build up mutual confidence between the East and the West. The second objective of the EC was to eliminate economic disparities, which had emerged during the 1930s, in Europe by ignoring the global recovery policy. There was a huge economic crisis, and almost all the nations in Europe had sustained a downward economic trend. This situation resulted in a number of dictatorships. Subsequent to the end of World War II, the Organization for European Economic Cooperation or OEEC established some measures for economic uplift in the European nations. The European Community built upon the efforts of the OEEC and established a common market in Europe, by pooling all the economic resources of its Member States.

Strategic Management and Leadership Assignment Example | Topics and Well Written Essays - 3500 words - 1

Strategic Management and Leadership - Assignment Example Its range of products include; camera lenses, cameras, microscopes, binoculars, ophthalmic lenses, steppers and measurement instruments (Suzuki et al., 2000). During the 3rd quarter ended in December 31, 2014, the company’s total assets increased by 48, 560 million yen from the past fiscal year to 998,075 million yen. This can be attributed to the increased cash and deposits approximated at 9,827 million yen, inventories by 27,113 million yen, and accounts receivable by 11,056 million yen. On the other hand, total liabilities increased by 20,745 million yen from the previous fiscal year to the 423,448 million yen. This was attributed to the increased accounts payable and notes by 15,106 million yen (Nikon, 2015). Comparing the increased total assets and liabilities, it’s evident that total increase in assets was more than the total increase in liabilities signaling a positive growth for the company. In third quarter of the year ending March 31, 2015, the precision equipment business posted a substantial decline in the income for the Q3 and the three quarters total year on year owing to the decline in sales. Similarly, the imaging products business income and sales decreased for the Q3 and three quarters total year on year. However, the overseas sales in the microscope solutions business increased. As of 31st march, 2015, the company’s net income was 46,824.0 million yens reflecting an increase of 4,365 million yens as compared to the previous year (Nikon, 2015). The increased income reflects the company’s success. The expansion of the company to reach out to seven continents is an indication of not only the increased market share for the company but also indicates how the company has been successful. It’s clear that without success the company could not be able to expand to the seven major continents. This can be

The Culmination of Transformations Molded Europe Essay Example for Free

The Culmination of Transformations Molded Europe Essay Europe underwent some major transformation from 1100-1300. The High Middle Ages, as this period was known, economic, political, religious and cultural revivals began to shape Europe. These changes were made possible for several reasons. One of those reasons was that Europe had become more settled after numerous invasions that occurred in the Early Middle Ages. The medieval kings began to apply centralized control. Advancement in agricultural practices also contributed to the European reform, as increased food supply stimulated commercial and urban growth. Also, due to pressures from the church, internal warfare and chronic violence in Europe was declining. One of the most exciting areas of revival was in economic conditions. The increase in food supply and agricultural production meant that trade increased. Commerce and interaction, which declined or completely halted during the dangerous disruptive years of the Central Middle Ages, reemerged. Increased trade led to several related and extremely important developments. One was the reintroduction of movement and interchange in parts of Europe, a dramatic change for people who had been isolated by limited resources and the dangerous conditions that had surrounded them. Now it was safer to travel, and there was the strong motive of trading surplus goods. Another change was the reemergence of currency throughout Europe. This was an extremely important change in the long run. Currency meant that land was no longer the only source of wealth. This eroded the monopoly of power held by feudal lords and vassals. Currency meant the beginning of a more complex economy and social system, providing more opportunities for people. Political revival was the most threatening to feudal lords and vassals. This was the process by which kings started to successfully build states in some parts of Europe. Although this took a long period of time, in some cases centuries, the process of state building began in the 1100s and 1200s in regions such as England and France and parts of Central Europe. The rise of kings meant less power for feudal lords as these monarchs built up their centralized control in the areas of military, taxation and legal enforcement. Although most modern states did not truly emerge until the 14th and 15th centuries, the threat to feudal lords became clear during the High Middle Ages. In the area of religion, the Catholic Church began to reassert its power in two ways. One was a movement within the Church to confront the problems of moral and financial corruption. An influential internal reform movement began in the 10th century. Over several decades, the efforts to create truly devout religious communities independent of outside political influence, and cleansed of corruption, sparked the imagination and passion of many in the Church. The emphasis on cleaning up corruption spread throughout Europe. The second area of reform took place at the highest level of the Church leadership. During the Central Middle Ages, popes were weak and often corrupt. During this period, the clergy was manipulated by powerful families. During the High Middle Ages, the Church distanced itself from political influence and corrupting influences as it gained greater support and respect from the common people and also greater control of its wealth. The culture of the High Middle Ages displayed a time of artistic vigor. Universities as we know them today, with faculty and students, were produced during this period. Kings and Popes competed to start up new universities. By the end of the Middle Ages, over 80 universities were in existence. Christianity was pivotal in the medieval society, as theology would play a vital role in the academic world. Christianity effected the actions of the kings and princes. Christianity would touch all Europeans lives. A philosophical and theological system was created in the schools and was referred to as scholasticism. This system was created to merge faith and reason and to exhibit that what was accepted on faith was in accord with what was learned as reason. The European civilization was transformed in the Middle Ages into a growing economy, nurtured by explosive trade, centralized government, agricultural progression and a cultural revival.

Marijuana Should Be Legal Essays -- Legalization of Marijuana

Abstract The following is a proposal for a public policy that would legalize marijuana and have the drug be treated as alcohol. This is necessary because the current policy is detrimental to society and the legalization of marijuana would be beneficial. The prohibition of the drug is unfounded because tobacco and alcohol, legalized substances, are more dangerous than marijuana. Also, the legislation regarding the drug was created on racist sentiments, reducing the law’s credibility. The current policy also creates a dangerous black market and renders our prison system ineffective. The legalization of cannabis would bring undeniable medical and economic benefits to society and the government. Varying degrees of marijuana legalization have proved that, if controlled, the drug is rarely damaging to a society or its population. In fact, the benefits of such legalizations seem to greatly outweigh the drawbacks, making legalization the only logical choice. The debate over marijuana is endless. Due to historical portrayals, marijuana is still often seen as a dangerous drug. This myth, however, is outdated. In fact, marijuana is actually a useful drug that, if legalized, would bring many positive consequences to society. Marijuana should be legalized and treated like alcohol with regards to its regulation. A change in the outdated federal policy of strict prohibition would be an advancement of society and its values. To begin with, the racial implications behind the enactment of the policy suggest that it should not have been enacted in the first place. Throughout the early 20th century, marijuana was associated with Mexican laborers in the United States. There was a strong racist sentiment towards Mexicans in America, especially in the Southwest. Consequently, elite Americans looked down upon marijuana use for its association with this particular group (Rowe 26-27). The drug was actually originally spelled â€Å"marihuana,† which is how the word appears in the 1937 Marihuana Tax Act that made marijuana illegal. The drug is now commonly referred to as â€Å"marijuana.† This happened with the help of William Randolph Hearst, a newspaper-publishing giant in the early 20th century. Hearst began calling the substance â€Å"marijuana† so it appeared foreign and became further associated with Mexicans (Gahlinger 34). Later, marijuana became associated with the jazz scene and Af... ... Works Cited Barrett, Devlin. â€Å"New Medical Marijuana Policy: Obama Administration Will Not Seek Arrests For People Following State Laws.† The Huffington Post online 1 Nov. 2009. 18 Oct. 2014. . Fish, Jefferson M. â€Å"Five Drug Policy Fallacies.† Drugs and Society: U.S. Public Policy. Ed. Jefferson M. Fish. Lanham, MD: Rowman & Littlefield Publishers, Inc, 2006. 79-96. Gahlinger, Paul. Illegal Drugs: A Complete Guide to Their History, Chemistry, Use, and Abuse. New York: Plume, 2004. Grinspoon, Lester, and James B. Bakalar. Marihuana: The Forbidden Medicine. New Haven: Yale University Press, 1997. Hoeffel, John. â€Å"Medical Marijuana Gets a Boost from Major Doctors Group.† The Los Angeles Times online 12 Nov. 2009. 11 Nov. 2014. . Krisberg, Kim. â€Å"Fight for Reform of U.S. Drug Policies Slowly Making Headway. Nation’s Health. 39.8 (Oct. 2009): 1-10. EBSCOHost. Web. 10 Nov. 2014. Mills, BJ. â€Å"Medical Marijuana-Is it All Smoke?† Med-Surg Matters. 17.5 (2008): 3-5. EBSCOHost. Web. 10 Nov. 2014. Rowe, Thomas C. Federal Narcotics Laws and the War on Drugs: Money Down a Rat Hole. New York: Haworth Press, 2006.

Hhielmsn

In this, and subsequent descriptions of the trenches, I may lay myself open to the charge of exaggeration. But it must be remembered that I am describing trench life in the early days of 1914, and I feel sure that those who had experience of them will acquit me of any such charge. To give a recipe for getting a rough idea, in case you want to, I recommend the following procedure. Select a flat ten-acre ploughed field, so sited that all the surface water of the surrounding country drains into it.Now cut a zig-zag slot about four feet deep and three feet wide diagonally across, dam off as much water as you can so as o leave about one hundred yards of squelchy mud; delve out a hole at one side of the slot, then endeavour to live there for a month on bully beef and damp biscuits, whilst a friend has instructions to fire at you with his Winchester every time you put your head above the surface. Well, here I was anyway, and the next thing was to make the bets of it.As I have before said, t hese were the days of the earliest trenches in this war; days when we had none of those â€Å"props† such as corrugated iron, floorboards, and sand bags. When you made a dug-out in those days you made it out of anything you could find, and generally had to make it yourself. Some British soldiers found that captured German trenches were better built than British ones – as H S Clapham wrote after a successful attack

Language and communication difficulties Essay

1.3: Describe the potential impact of speech, language and communication difficulties on the overall development of a child, both currently and in the longer term. Lack of confidence: Throughout a child’s school life, as well as adulthood, individuals with SLCN will struggle to find confidence in a number of areas. Many children will come across as shy or timid, whereas they may actually be unable to say what they want to say through lack of understanding. Language barriers restrict a child’s opportunity to participate, and often leave them feeling unvalued or excluded. Without confidence, individuals will fail to become independent and possibly become reliant on adults or peers. Problem solving: Due to the lack of skills needed, problem solving can become an extremely daunting task. Barriers that may seem easy to overcome (for most individuals) can cause children with SLCN a huge amount of anxiety and stress. Children will not be able to fully understand how to manage problems, where to go to, or how to explain what exactly is wrong. Instead, many problems will be left alone, creating a higher level of stress. Emotional regulation: Dealing with emotions can be hard for everyone, but being able to communicate with others will often leave individuals with a sense of reassurance. Children with SLCN will find it harder to explain the emotions they are going through, and may not understand how to effectively manage their emotions as a consequence. As anxiety levels may be constant, children will often feel worried and nervous about situations. During adulthood, this may lead to stress and depression. Adults may isolate themselves which could have a significant impact on work, friendships and relationships. Behaviour control: Unfortunately, for some SLCN individuals, a lack of understanding can often lead to poor behaviour. Children, who find work too hard or confusing, can often allow their mind to wander, and become easily distracted. In turn, the child may cause distractions in lessons and seem to be behaving badly. The issue may be strengthened when the child is questioned and barriers prevent them answering confidently. Children struggle to stay on task and often leave work incomplete which may lead to further sanctions. EYMP5-1.3: Describe the potential impact of speech, language and communication difficulties on the overall development of a child, both currently and in the longer term. Academic Achievement: Children’s achievement will be greatly restricted as they will always find the work seemingly harder than their peers. Individuals with SLCN must be allowed time and space to complete tasks, and their instructions would be minimised to a level that they can understand. Due to the time management, they may have differentiated work patterns meaning that they are not completing as much work as their peers. Tests can cause huge amounts of stress and even for the brightest of students, a failure to understand questions as well as difficulties in managing emotions can lead to lower test scores. Making friends: Social impacts can include difficulties in friendships. Bonds between peers can become harder with SLCN children as they may not fully understand their role as a friend. Children may feel excluded from playtime activities and due to lack of confidence, decide to stay alone instead of participating. As children grow up, they will find it increasingly difficult to form friendships with children who are already in groups. During adulthood, this may not change. Adults may even fear employment, worrying that they do not  have the social skills to bond with other employees. Sustaining relationships: In adulthood in particular, sustaining relationships can be a very stressful situation. A lack of understanding between two people can lead to a distance in thought processes. The worry and anxiety levels of adults with SLCN can often be extremely high, and instead of â€Å"failing,† they may be reluctant to even try. Adults can often argue, which again would be a difficult task to overcome for someone with language and communication barriers. Many adults may not realise, or fully understand, what they need to do to correct situations and maintain healthy and positive relationships.

Critical Evaluation Of Financial Statements Accounting Essay Essays

Critical Evaluation Of Financial Statements Accounting Essay Essays Critical Evaluation Of Financial Statements Accounting Essay Essay Critical Evaluation Of Financial Statements Accounting Essay Essay Fiscal statements contain fiscal information about a concern organisation that should be just and accurate. They should state determination shapers about the company s fiscal personal businesss. In peculiar, fiscal statements are of import for investors and creditors in their efforts to measure future hard currency flows from the company to them. However, as Elliott and Elliott, 2008 province, there has been an increasing concern about the impact of traveling monetary value degrees on net income and capital measuring. Therefore, Historical Cost Accounting ( HCA ) is the worst possible accounting convention, until one considers the options ( p.86 ) . Hence, there are alternate accounting attacks that have been proposed to integrate these motions into the fiscal studies. Notwithstanding, these attacks are still undergoing development and have non achieved general support among practicians in the accounting field. You are required to discourse and notice on the above statement with mention to academic books, documents, and other published beginnings that you have read. See all the following in your response: Critically evaluate fiscal statements in footings of its importance, dependability and relevance to the cardinal users. Response: As stated by Atrill A ; McLaney, the fiscal statements aim is to supply a snapshot of the fiscal place and public presentation of a concern ( Atrill A ; McLaney, 2008 ) . The Financial Accounts of a company describe the public presentation of the company in fiscal footings. They are drumhead of the extended activities of a concern designed to supply true and accurate images to stakeholders ( Woelfel, 1994 ) . In today s universe, the fiscal histories of a company will be of involvement to broad assortment of users called stakeholders ( DL MBA Material, 2003 ) . As discussed in DL MBA stuff, some of stakeholder of a company can be proprietors, loaners, investing analysts, directors, employees, clients, providers, rivals and authorities bureaus. The following briefly discuss features of fiscal studies which would be interested to each party ( DL MBA Material, 2003 ) . Owners The stockholders of company s are ultimate proprietors. The stockholders invest their money into company A ; hence they are concern with profitableness, dividend and future chances of the company. Their chief concern is dependability of information available to them to make up ones mind their future outlooks or class of actions ( DL MBA Material, 2003 ) . Lenders They are the fiscal establishments who lend money to a company for its regular operation or concern enlargements. They perform elaborate analysis of company histories and do determination to impart money. It helps them to understand the fiscal purchase of the company by analyzing the different purchase ratios like debt-to-equity ratio etc. They determine the fixed assets of the company in order to cover up any contingency. They decide the repayment ability of companies towards adoptions ( DL MBA Material, 2003 ) . Investing Analyst They are risk-appetite bargainers, single investors, and fiscal establishment looking for concern chance to put money into a company. They frequently use company s history to measure the hereafter growing and profitableness of a concern. One of their chief concerns is growing potency of the company A ; their portion monetary value public presentation in stock market ( DL MBA Material, 2003 ) . Directors A companies directors purpose is to analyze the fiscal accounting and happen the way of the attempts being put to accomplish corporate aims. They normally determine the company public presentation based on thorough internal histories. Their single public presentations get judged by the bring forthing good accounting figures ( DL MBA Material, 2003 ) . Employee They would be concern about hereafter of company A ; stableness and would be looking at histories from company profitableness, growing, long term concern and truthfulness of information ( DL MBA Material, 2003 ) . Customers- They frequently sees company s history to find the strength of the possible seller to fulfill their committednesss ( DL MBA Material, 2003 ) . Supplier- They frequently sees company s histories to find the recognition installations A ; payment footings ( DL MBA Material, 2003 ) . Competitor- will be interested to see the histories to derive any advantage which they can do usage of ( DL MBA Material, 2003 ) . Government agencies- Tax authorization will take closer expression into a company s history to place any disagreement in the history by exaggerating or under standing net incomes. Hence the cardinal standards would be to look into truth, verifiability A ; truthfulness ( DL MBA Material, 2003 ) . The different users of histories got different motivation to look at it and they got different demand like equity, truthfulness, public presentation, refund capacity, fiscal purchase, liquidness and hard currency flow of a company. Question 2: Review the defects of HCA theoretical account when monetary values are lifting and explicate why fiscal studies under the HCA are capable to some major restrictions ( e.g. stock list is undervalued, the depreciation charge to the income statement is unostentatious, balance sheet values are understated, and periodic comparings are invalidated ) . Response: The historical cost accounting is a convention in which plus values are based on the existent sum paid for the assets with no rising prices accommodations. The historical cost conventions reference that the value of assets should be accounted on their acquisition cost ( Atrill A ; McLaney, 2008 ) . It does non take into history rising prices though there are certain accommodations like depreciation, depletion and damages ( www.money terms.co.uk, 2010 ) . It relies on an premise that the buying power of money is changeless through out and does non alter with clip. Under historical cost attack, the stock lists are reported in balance sheet at cost. However, there may be decrease in realisable value of the stock lists due to obsolescence, impairment or salable monetary value alterations ; therefore historical cost attack does non account for this alteration ( Hawawini A ; Viallet 2007 ) . It is frequently said that the weighing assets at their current value would supply a more true image of the fiscal place of a company and would be more meaningful to broad scope of audiences for determination devising. But at the same clip it has got dependability job ( Atrill A ; McLaney, 2008 ) . With rise in monetary value, HCA will non be able to capture the alteration in rating of underlying assets as it records the value of assets as historical cost. Hence, addition in the value of assets will non be reflected in a company balance sheet. Due to this the balance sheet will non show the true fiscal place. As a consequence, in the clip of high rising prices, net incomes will be overstated and revenue enhancement liability will increase. Again with monetary value autumn, similar job will be observed but this clip existent plus value will be less than the historical cost hence exaggerating the assets on the balance sheet A ; sabotaging the net incomes A ; the revenue enhancement liability will diminish. The depreciation adds more complication to the job. The cost of assets by and large spread out over a figure of old ages of its usability life clip at the monetary value paid at the executing of a dealing. The depreciation affects the transporting value of the plus. HCA does non see the existent value and therefore deprecating original value does non demo true image. Question 3: Why has the HCA theoretical account survived in malice of its restrictions in times of rising prices? Response: The HCA theoretical account is traditional accounting theoretical account and there are many grounds for its endurances. It is straightforward, simple and dependable. There are certain restriction with net market value, depreciation, monetary value rise A ; autumn and rising pricess but at the same clip other accounting systems mostly faces concerns around dependability, rightness, quality A ; truthfulness of information ( Johnson, 2005 ) . As per Johnson, the historical costs though non just but much more dependable. Hence many cases, the importance is given to tradeoff between historical costing and other advanced just value patterns in much larger position ( Johnson, 2005 ) . The foundation of HCA is a existent dealing which has happened and the money has been paid for that dealing. Hence the cost value is a existent A ; non fabricated and has its root in that dealing. It is non about ciphering slightly fanciful or conjectural cost. The chief advantage of utilizing historical cost accounting is simplicity and certainty. The other advantage is it gives directors ability to calculate future operational costs. Hence in malice, many experts argue that the equity of the method is far from existent value, it still continue to rule the accounting universe. Question 4: Discourse the characteristics of current income and value theoretical accounts ( e.g. Current Buying Power Accounting ( CPPA ) and Replacement Cost Accounting ( RCA ) theoretical accounts ) that have been suggested to replace or run in tandem with the HCA convention. Response: As per Nobes, current buying power or general buying power accounting systems are based on historical cost histories adjusted with general monetary value index Numberss ( Nobes, 1992 ) . In instance of current buying power accounting, the original buying costs are corrected by rectification factor based on some general index like retail monetary value index. The corrected purchase cost is so used to cipher the balance value of the assets in order to record in the balance sheet for that twelvemonth. Hence it represents more realistic value for non-monetary assets. Ahmed argues that the replacing cost accounting steps replacement cost in units of money. He argues that the replacing cost income is equal to the difference between realised grosss and their corresponding replacing costs in units of general buying power ( Riahi-Belkaoui, 1996 ) . As per Drummon A ; stickler, the replacing cost is the sum of hard currency or hard currency equivalent that would be needed soon to get tantamount assets which can supply same map as the original plus. The method consists of gauging the cost of a new plus as argued by Christina ( Drummon A ; stickler, 1983 ) . The of import feature of replacing cost accounting is to capture the effects of altering monetary values and ultimate altering value of the points. The cardinal characteristic of both techniques is to capture the loss or addition in the value of non-monetary points such that the effects of rising prices or deflation can be captured in the balance sheet to do it more accurate. Question 5: Critically measure the virtuousnesss and defects of these alternate theoretical accounts. Response: The chief feature of the alternate theoretical accounts like current buying power accounting or replacing cost accounting is a mechanism to capture the loss or addition in the value of non-monetary points on the current rating footing. It helps to enter assets on the balance sheet with realistic values. The balance sheet can portrait true image of fiscal place of an administration ( DL MBA Material, 2003 ) . It can suit the effects of rising prices or deflation A ; do fiscal statement more economically relevant. The chief drawback of the alternate theoretical accounts is alterations in the monetary values are captured but these are non based on existent existent dealing. These theoretical accounts are complicated and values are subjective. It may go on that the general Consumer Price index or rising prices has gone up but the impacts on assets have been rearward or non that important. In such instance, the attendant value will be erroneous. Hence they lack in dependability.

Probability of Going to Jail in Monopoly

Probability of Going to Jail in Monopoly In the game Monopoly there are a lot of features that involve some aspect of probability. Of course, since the method of moving around the board involves rolling two dice, it is clear that there is some element of chance in the game. One of the places where this is evident is the portion of the game known as Jail. We will calculate two probabilities regarding Jail in the game of Monopoly. Description of Jail Jail in Monopoly is a space in which players can â€Å"Just Visit† on their way around the board, or where they must go if a few conditions are met. While in Jail, a player can still collect rents and develop properties, but is not able to move around the board. This is a significant disadvantage early in the game when properties are not owned, as the game progresses there are times where it is more advantageous to stay in Jail, as it reduces the risk of landing on your opponents’ developed properties. There are three ways that a player can end up in Jail. One can simply land on the â€Å"Go to Jail† space of the board.One can draw a Chance or Community Chest card marked â€Å"Go to Jail.†One can roll doubles (both numbers on the dice are the same) three times in a row. There are also three ways that a player can get out of Jail Use a â€Å"Get out of Jail Free† cardPay $50Roll doubles on any of the three turns after a player goes to Jail. We will examine the probabilities of the third item on each of the above lists. Probability of Going to Jail We will first look at the probability of going to Jail by rolling three doubles in a row. There are six different rolls that are doubles (double 1, double 2, double 3, double 4, double 5, and double 6) out of a total of 36 possible outcomes when rolling two dice. So on any turn, the probability of rolling a double is 6/36 1/6. Now each roll of the dice is independent. So the probability that any given turn will result in the rolling of doubles three times in a row is (1/6) x (1/6) x (1/6) 1/216. This is approximately 0.46%. While this may seem like a small percentage, given the length of most Monopoly games, it is likely that this will happen at some point to someone during the game. Probability of Leaving Jail We now turn to the probability of leaving Jail by rolling doubles. This probability is slightly more difficult to calculate because there are different cases to consider: The probability that we roll doubles on the first roll is 1/6.The probability that we roll doubles on the second turn but not the first is (5/6) x (1/6) 5/36.The probability that we roll doubles on the third turn but not the first or second is (5/6) x (5/6) x (1/6) 25/216. So the probability of rolling doubles to get out of Jail is 1/6 5/36 25/216 91/216, or about 42%. We could calculate this probability in a different way. The complement of the event â€Å"roll doubles at least once over the next three turns† is â€Å"We don’t roll doubles at all over the next three turns.† Thus the probability of not rolling any doubles is (5/6) x (5/6) x (5/6) 125/216. Since we have calculated the probability of the complement of the event that we want to find, we subtract this probability from 100%. We get the same probability of 1 - 125/216 91/216 that we obtained from the other method. Probabilities of the Other Methods Probabilities for the other methods are difficult to calculate. They all involve the probability of landing on a particular space (or landing on a particular space and drawing a particular card). Finding the probability of landing on a certain space in Monopoly is actually quite difficult. This sort of problem can be dealt with by the use of Monte Carlo simulation methods.

Is MacIntyre's Critique of Modern Ethics Convincing Essay

Is MacIntyre's Critique of Modern Ethics Convincing - Essay Example It continues to point out to the inconsistencies and the groundless nature of major assumptions made in his philosophies. His argument of superiority of certain traditions is also criticized as well as other inconsistencies in his criteria. In After Virtue, when he says â€Å"one has to find its moral identity in and through its membership in communities,†1 he rejects the concept of individuality in moral issues. Lastly, this paper explores Hegel’s speculative logic of metaphysics as a contrary philosophy to Macintyre’s. MacIntyres Critique of Modern Ethics is not convincing. His claims that the ethical theory and practice are incomprehensible is groundless. The recipients of his criticism are the emotive who believe in the doctrine of emotivism. For them, the value upheld and the metaphysical aspects of people are attributes that are derived from own personal preference as opposed to adherence to objective validity. In this case, considering something to be good is not a root of making a rational moral decision, instead that is only based on personal preference. As such, MacIntyres critique is based on three major pillars as proposed by Aristotle (Brodie 1991). The first pillar considers the moral agent in the amateur person, the second one is the moral agent when one already has comprehension of is telos, and lastly, moral considerations that enhance facilitation between stages (MacIntyre 1999). Modernity fails to uphold the second pillar as the normative concept of telos cannot be used as a deter minant of good of bad behavior in the society. In this case, the good traits of an individual has to be eliminated, even if it is highly beneficial to the members of the society. This has to happen so that one can adopt new and alternative forms of norms other than the original one. It is only after such a disconnection that one can say that something about that traditional or society is good or one can qualify to understand the

Marketing of services (service bundling) Essay Example | Topics and Well Written Essays - 750 words

Marketing of services (service bundling) - Essay Example I also identified that the research methodology of the article involved a wide range of services associated with prices for equipments or parts, labour along with full services relating to the manufacturing operations of the firms. When ascertaining the ultimate findings of the research, I observed that the article explored the service needs of the Chinese manufacturing organisations dividing their operations into five major clusters, viz. â€Å"highly price-sensitive on basic service needs†, â€Å"highly sensitive on logistic performance of basic service needs†, â€Å"preventing product breakdowns for very reasonable prices†, â€Å"knowledge seeking† and â€Å"seeking for cost-efficient outsourcing partners.† In this context, I also identified that the findings ascertained by the research article had major management implications, associating the service needs of the Chinese manufacturing firms with the service-based organisations of the nation. My experience in this assignment have been quite helpful, not only in developing my understanding of organisational operational processes, but also related to the various ways of conducting a research along with its rationality. My experience through this assignment further helped me understand that developing a framework of research prior to implementing it is very crucial that provides a structure to the entire process along with defining its base in an objective-oriented manner. Reviewing the research findings, I observed that ‘price sensitivity of Chinese manufacturing companies’, I have recognised that the low priced service items including spare parts, wear parts, repair along with inspection and basic services to maintain contracts achieved the highest mean. In this context, I understood that the services associated with low price are highly required by the Chinese manufacturing companies. Correspondingly, I observed that factors including the availability of