Orlando Is My Favorite Place Essay Example | Topics and Well Written Essays - 500 words

Orlando Is My Favorite Place - Essay Example As one walks along the main areas of the city, one can see that it has a number of renowned eateries and restaurants as well as art based activities for people, for the purpose of recreation, entertainment attractions, and hanging out. It is very well built in terms of infrastructure and is very actively lived in the city. The sounds of Orlando include traffic noise as well as the hustle and bustle of people roaming around trying to absorb the sights of the city. On the east side of the city, there is beautiful landscaping along with lush greenery and a clean environment for people to live in. This area mostly consists of residential places to live and has very well planned areas with convenience with respect to shopping, transport, eating out as well as schooling and education. Most of the roads in Orlando are well connected to each other, thus providing only 30 minutes of travel and commute time from the corners to some of the city’s main attractions. Orlando is soon becomin g a haunt for urban people as the suburbs are becoming sprawled with homes to live in as well. The aromas of various cuisines waft all around Orlando as it is dotted with food stalls at every corner and road. Shopping malls adorn the main areas as well as making it easier to see women, men and children moving along happily feeling good. The place is very overwhelming for many people as they are about to do almost everything they want to and thus it makes it gives for a very exciting buzz in the air.

Corporate Restructuring Essay Example for Free

Corporate Restructuring Essay Purpose of Corporate restructuring : 1. To enhance the shareholder value 2. To utilize the assets properly 3. To get profitable investment opportunities 4. To diverse the business 5. To reduce cost of capital by designing innovative securities through corporate restructuring Types of Corporate restructuring : 1. Mergers or amalgamation The words mergers and amalgamation are always interchangeable but there is slight difference in mergers and amalgamation. Merger is fusion of two or more entities and it is a process in which the identity of one or more entities is lost (as is often seen when political parties merge). In the case of a merger, the assets and liabilities of a company get vested into the assets and liabilities of another company. The shareholders of the company being merged become shareholders of the larger company (as when two or more smaller banks merge with a larger bank). On the other hand, in the case of amalgamation, shareholders of both (or more) companies get new shares allotted that are of a new company altogether. 2. Acquisition or takeover : Acquistion may be defined as an act of acquiring effective control over assets or management of a company by another company without any combination of businesses or companies.In acquisition , two or more companies may remain independent, separate legal entity but there may be change in control of companies. Acquistion : When managements of acquiring and target companies mutually and willingly agree for the takeover it is called acquisition or friendly takeover Takeover : Takeover means acquisition . When the company takes the target company unwillingly or forcefully it is called takeover. The term takeover is understood to connote hostility. 3. Leveraged buyouts (LBO) : A leverage buyout (LBO) is an acquisition of a company in which the acquisition is substantially financed through debt. 4. Divestment : A divestment involves the sale of company’s assets or product lines or  divisions or brand to the outsiders.It is reverse of acquisition. There are 2 types of divestments : sell-off and spin-off Sell off : When a company sells a part of its business to a third party it is called sell –off Spin-offs : When a company creates a new company from the existing single entity it is called a spin-off. 5. Reverse merger / Reverse Takeover : The acquisition of a public company by a private company so that the private company can bypass the lengthy and complex process of going public. The transaction typically requires reorganization of capitalization of the acquiring company.

Joseph Conrad’s Heart of Darkness and Carl Jungs Principle of Opposite

Carl Jung was a pioneer of psychoanalytic theory along with his former partner and mentor, Sigmund Freud. Though Jung split from Freud and diverged onto his own unbeaten trail of psychoanalysis two years before his decease, they are both highly revered for the myriad of ways in which they developed the understanding of the mind. Parallel to this period, Joseph Conrad penned and published the novella Heart of Darkness, which tackled much of what Jung had found about the psyche and its inner workings. In Heart of Darkness, both Marlow and Kurtz are representations of strong reoccurring archetypes within human myth, religion, and folklore. They work together to epitomize one of Jung’s Cores of Personality: the Principle of Opposites. The Principle of Opposites states that both sides of opposite pairs—good and bad, light and dark, joy and despair, et cetera—are present to complete the other. In this way, Marlow and Kurtz are opposite replications of each other in Co nrad’s Heart of Darkness; they are doppelgà ¤ngers that complete each other, as in Jungian theory. Marlow is the raconteur of Heart of Darkness, and therefore is one of the more crucial characters within the plot. He embodies the willingness to be valiant, resilient, and gallant, while similarly seeming to be cautiously revolutionary. He is, seemingly the epitome of bravery, going into the jungle. Marlow’s voyage is, in essence, a â€Å"night journey into the unconscious, the confrontation with an entity within the self† (Guerard 38). The ominous coast is an allegory for the idea of the unconscious mind. â€Å"Watching a coast as it slips by the ship [†¦] there it is before you—smiling, frowning, inviting, grand, mean, insipid, or savage, and always mute with an air of whispering† (1... ...Works Cited Burke, Colleen. "Colleen Burke - Joseph Conrad’s Heart of Darkness - A Metaphor Of Jungian Psychology." 15 Nov. 2011. . Conrad, Joseph, and Paul B. Armstrong. Heart of Darkness: Authoritative Text, Backgrounds and Contexts, Criticism. New York: W.W. Norton &, 2006. Guerard, Albert J. Conrad the Novelist. Cambridge, MA.: Harvard U. Press, 1958. Hughs, Richard E. The Lively Image: Four Myths in Literature. Cambridge, MA: Winthrop Publishers, 1975. Jung, C. G. Collected Works of C. G. Jung, Vol. 9, Part 1., 2nd ed., Princeton University Press, 1968. 451 p. (p. 54-72). Lord, George de Forest. Trials of the Self: Heroic Ordeals in the Epic Tradition Hamden, Conn.: Archon Books, 1983. Spivack, Charlotte. "The Journey to Hell: Satan, The Shadow, and the Self." Centennial Review 9:4 (1965): 420 - 437.

Be able to prepare to provide support for eating and drinking Essay

I should always check the individuals care plan to establish the level of support required by the individual when eating and drinking. I should also ask colleagues, the individual’s family, friends and the individual if they would like help and how they would like me to help. I must ensure I’m not imposing a level of support which suits me or my organisation rather than the individual. I should provide the minimum of support possible in order for the task to be accomplished regardless of how long this will take or the mess the individual may make. I may need to support individuals to prepare for meal time with things such as protective clothing. I should check if they need support with positioning to ensure they are comfortable whilst eating and drinking. It may be that the individual is able to feed themselves, if provided with the correct equipment to do so. By providing the individual with the correct equipment I’m providing active support and ensuring that I’m supporting them in a way that helps the individual maintain their independence There is specially adapted cutlery available for individuals who may have arthritic fingers, where they are not able to grip conventional cutlery. An individual suffering with dementia may need to be prompted to eat at regular intervals. The individual may be sight impaired making it difficult to eat independently. An individual suffering with dysphagia and have difficulty swallowing. They would require their food to be pureed or may need to be fed via P. E. G. tube. Some individuals may need to be fed if they do not have the use of their hands. There are many different levels and types of support depending on the individuals circumstances. Demonstrate effective hand-washing and use of protective clothing when handling food and drink Support the individual to prepare to eat and drink, in a way that meets their personal needs and preferences The individual may require protective coverings such as an apron to protect their clothing from stains from dropped food or drink and napkins to wipe themselves if necessary. I should provide individuals with the opportunity to use the toilet and wash their hands prior to their meal. An important aid to eating is an individual’s dentures. They should be available and also well fitting. They may have religious activities they wish to carry out prior to their meal such as praying, washing themselves or giving thanks. Provide suitable utensils to assist the individual to eat and drink. Ordinary cutlery can be too heavy to hold or too difficult to grip for some individuals and particularly those with arthritic hands. There is a wide range of specialist cutlery available to allow individuals to remain as independent as possible and manage eating and drinking with minimal assistance. Some of which is listed below: Types of utensil Purpose Angled cutlery For some people who finds it difficult to bring a fork or spoon at right angles to the mouth Easy grip handled spoon and fork For an individual who finds it difficult to grip cutlery. Plate guard If an individual is likely to shuffle food off the plate, the plate guard would stop food from escaping Melamine cups, plates and bowls, two handled drinking cups with a flexible plastic straw To avoid breakages if an individual is prone to dropping things. For people with hand tremors Cups with a spout Very efficient if I need to avoid spillages Special plates with hot water compartment at the base Feeding cup Non slip tray with handle Gadget to remove lids from jars/bottles To keep food warm while individuals eat their food, useful if they normally take long to eat. This will reduce the rate at which the food gets cold. Avoids spills – liquid at the bottom is drank first so ensure no tea leaves. For those with use of only one arm, to carry several items at once Aids individuals with weak hands.

Identity and Belonging – Change Can Be Easy or Hard – Reference to Summer of the Seventeenth Doll

Throughout your life the process of ageing is constantly influencing your identity. As William Shakespeare wrote â€Å"All the world's a stage, And all the men and women merely players; They have their exits and their entrances, And one man in his time plays many parts,†¦Ã¢â‚¬ . Our identity is forever changing and this is because we are forever ageing. Throughout out the three main stages of ageing – youth, middle age, elderly- we don’t just age physically, we age physiologically as well. Hence as we age we mature, become wiser and more aware of the world around us. As of this our views change from each stage of life, thus inflicting our identity to change. Although some people find this transition from one stage of life to the next to be difficult and dread upon its occurrences whereas others enjoy ageing and just take it as it comes. As a baby we have our identity created for us, they say â€Å"give me the boy at seven and I will give you the man† implying that until the age of seven a child is dependent on their very first social unit, that is family. It is the multiplicity and complexity of family that gives children real life experiences into human relationships and what teaches them morals and values which will always be a part of their identity, although as you age, and mature you become less dependent on your family and are able to venture out into the world. This usually happens around the age of adolescence. This is a time when adolescences have the world at their feet and they are â€Å"servants to their own dreams†. Many people enjoy this part of growing up as their bodies are at the peak, meaning they are able to push them to do whatever they want. They are less susceptible to illnesses and less likely to damage themselves; when they do the body’s ability to repair at that age is remarkable. Not only are they at the physically peak of their lives, they are usually at the social peak. Their social networks at this age are usually highly complex and turning 18 opens the doors to a once prohibited world full of new adventures and experiences, such as going clubbing, driving and being classed as an adult. However many adolescence’ find it hard to transition to adulthood as they no longer have the burdens of high school pressures and friends. This also creates problems for people who only have social networks that they have from school meaning when school is over they need to adapt to a new environment and become independent. This can be emotional and daunting for many youth. Middle age is a crisis for many people both men and women. It is a time when they have left the excitement and potential of their youth, instead they reflect back on where they have come from and often look with dread towards their older years, in Ray Lawyers Summer Of The Seventeenth Doll this period of time effects many characters negatively as they cannot accept they are aging and thus see change as a daunting factor. Roo, the ganger of a team of cane cutters, realises he is ageing when his back gives way and he is forced to step down as top dog. Since he was young he had been a cane cutter, that was his identity but because of his ageing body, his identity will change as he can no longer be a cane cutter, this not only affects Roo but also Olive. Olive has been in the group since it started seventeen summers ago and is reflecting on her life so far, remembering the times when Roo and Barney would come down South to see her and Nancy during the layoff. However since Nancy has left the group to go get married, Olive realises that she is turning 40 soon and is still clinging to her glory days. In order to keep her â€Å"youth† she has decorated the lounge room with the keepsake dolls to testify her persistence on keeping the group together and displaying her symbols of youth. With Olives obsession of keeping the group together revels a woman who cannot accept that she is getting older and who can adjust to the new era in her identity. For olive, the change of getting older is not physically but more physiological as she sees this change as losing her youth. Although middle age is not always negative for everyone. Although Nancy is the catalyst for the group’s breakdown, she realises that she can no longer act like a youth, as she did with Olive and the group and as such has accepted the fact that she is getting older, hence why she abandoned her friends to settle down and get married to start the next chapter in her life. Although many people believe it’s the best years of life as it is the only â€Å"time you really live as the young are slaves to dreams; the old are servants of regrets. Only the middle aged have all their 5 senses in the keeping of their wits. † The last period of life that has been categorised as â€Å"old age† and is now considered to be after 65. Some people choose to accept old age as a positive as they have lived their lives and are now in retirement. Many elderly people see being able to retire as being able to act like they are young again as they have completed the majority of lives responsibilities, such as rearing children and working for a living, this gives many the opportunity to travel and do what they desire but at a cost. Having lived for such a long time has taken a physical toll on the body, it is weaker and more frail then that of a youthful person, hence why some older people see old age as a negative. They feel as though they are stuck inside an â€Å"old carcass† and believe that â€Å"nature is cruel; tis jest to make old age look like a fool; (because) the body crumbles, grace and vigour depart† No matter what age you are there will always be a positive and a negative but regardless of this, age will always influence your identity as it changes your thoughts as you become wiser and more knowledgeable about the world around you. Throughout each age group you will have new realisations about the environment you live in and this will cause a physiological or physiological a change which influences your identity.

Patriots Win

Patriots Win #PatriotsWIN Exult Patriots Fans! Sorry Seattle Seahawks, our Turn to Win! In spite of the fact that some kept wondering why the Patriots even appeared on the Super Bowl with the deflating scandal behind, the players proved that Super Bowl was about football, not footballs. To their justice, the game was thrilling, heart-stopping and made us nervous! Forget about the last two seasons, even this game gave no certainty the New England Patriots can really win. We could not relax and be sure in victory almost until the end of the game. All we had is our deep belief. Luckily, it paid off; they won the Super Bowl this time! They did†¦ and we can’t be happier. Thank you, Malcolm Butler, for putting an end to all our doubts. You sealed this victory. I mean, did you see that? A reminder: it was Malcolm Butler who intercepted opponents pass in the end zone with just 26 seconds left until the end of the game. Malcolm Butler was not the only hero of this game. Tom Brady led his team to four touchdowns, breaking Joe Montana Super Bowl record. He completed all eight passes, including the one to Julian Edelman who later said: â€Å"Tom Brady came out here, he’s been to six Super Bowls, he’s won four with the salary cap. It’s hard to argue against that.† Butler shook the Seahawks defense claimed to be the strongest asset of their team and the best NFL has. His last catch had a nauseating effect the Seahawks and you could literally see! Tom Brady won his third Most Valuable Player. Eleven years have passed since he won his second one. This is the fourth victory after the Patriots lost three Super Bowls in a row. That was a real down for all of us, fans since they got us used to winning before. Reminder again: the Patriots won three Super Bowls in four years about a decade ago. Thank you for being back on track, guys! Was it only their talent and persistence that got them the trophy? Maybe the break in the team’s routine contributed too. As far as we know, Bill Belichick gave the whole day off for the team before the game instead of a usual walkthrough. That was something new. I guess that rest was crucial for the players. We must admit that Seattle did not quit. The Seahawks showed class. Kearse showed impressive 33-yard catch. Marshawn Lynch rushed for 4 yards, then backup cornerback Butler, who was victimized on Kearses reception, made the biggest play of his first NFL season with 20 seconds remaining. The Seahawks did their best to become the first repeat champions of NFL since New England a decade ago. However, it was not meant to happen this time. The game taught Seattle a lot of mental toughness, though. The game marked by emotions, records, thrill and awards. Therefore, that’s what we have: Super Bowl XLIX, Glendale, Arizona, University of Phoenix Stadium, February 1, 2015, New England Patriots – Seahawks 28-24.

Computer Fraud essays

Computer Fraud essays Kashmir Controversy Lately, in the national news, Kashmir has been the hot topic. The intense religious, political, geographical, and economical debates have been heard all over the world, and yet, there has been no conclusion to this war between Pakistan and India. As an Indian myself, it is almost impossible to be unbiased in any kind of analysis of the subject, so I will not attempt to be impartial, but yet present the story as how I, first of all see it, secondly, researched it, and thirdly, believe it. There is a truth behind the Kashmir story, and the Indians and the Pakistanis must understand it. There are real people involved in this governmental affair, and being such an affair, one must realize that it is time to stop the killing and resolve this century-old war between the Muslims and the Hindus. Kashmir was once a tourists paradise. The land has been known for centuries as the greenest and most temperate spot in the Himalayas. A land so beautiful, one could not even pict ure it in their dreams. Clear blue lakes reflects the snow-capped mountains, and lush forests of fir, pine, and spruce lining the rivers. The land was once the summer vacation spot for the British raj as well as the wealthy Indians who wanted to escape the heat of the intense summers of India. However beautiful Kashmir is, the land is valued more than for it natural beauty. The land is a path through the Himalayas to the entire subcontinent. From Kashmir, the rivers Indus, Chenab, and Jhelum flow. These rivers are the primary sources of water for Pakistanis. The land provides for a spy camera on the nearby powerful countries of China, Afghanistan, and the Soviet republic of Tajikistan. The "Kashmir problem" dates back to 1947 and the partition of India and Pakistan. Maharaja Hari Singh, the hereditary ruler of Kashmir, stalled for several months over the decision as to which nation Kashmir would join. Singh, a Hindu ruling a majority-Muslim population...

9 preguntas a turistas en control migratorio de EE.UU.

9 preguntas a turistas en control migratorio de EE.UU. Turistas y personas de negocios que llegan a Estados Unidos pueden esperar que los oficiales de control de paso migratorio de la CBP les pregunten una serie de cosas para decidir si permiten su ingreso al paà ­s. En el paso migratorio tambià ©n se verifica el pasaporte y la visa o ESTA –en el caso de pertenecer a un paà ­s del Programa de Exencià ³n de Visados– y se cotejan con el programa TECS de la computadora del oficial migratorio. Adems, se tomarn los datos biomà ©tricos del solicitante a ingresar a Estados Unidos. En este artà ­culo se informa de cules son las 9 preguntas ms frecuentes en el paso migratorio y cules son las respuestas correctas, asà ­ como quà © puede pasar y cules son los derechos que aplican en la frontera de Estados Unidos (terrestre, marà ­tima y de aeropuertos). 9 preguntas preguntas frecuentes en el paso migratorio de EE.UU. El oficial de migracià ³n puede preguntar lo que estime conveniente, pero las que se enumeran a continuacià ³n son frecuentes. Una de las ms comunes es preguntar cul es la razà ³n de la visita a Estados Unidos. La respuesta debe ser acorde con el tipo de visa o documento con el que se solicita el ingreso a EE.UU. Asà ­, si se tiene una de turista B1/B2 o una autorizacià ³n conocida como ESTA, la respuesta es turismo, negocio o atencià ³n mà ©dica. Es absolutamente equivocado contestar que la intencià ³n es buscar trabajo o contraer matrimonio. Otra pregunta frecuente es dà ³nde se va a alojar. Se puede llevar impreso el nombre y direccià ³n del hotel, si ese es el tipo de alojamiento. Si se va a estar viajando, tambià ©n es perfectamente vlido contar cà ³mo se piensa viajar y los planes que se han hecho para reservar alojamiento, aunque no es necesario tener absolutamente todo cerrado ya que puede haber cambios en el caso de, por ejemplo, planear un tour por carretera. En todo caso, tener en consideracià ³n que, en ciertos casos, hay que notificar los cambios de direccià ³n del lugar de estancia. Tambià ©n se pregunta a quià ©n va a visitar. Es absolutamente normal visitar amigos o familiares. Sin embargo, si estos estn en situacià ³n de indocumentados se recomienda no mentir a los oficiales de migracià ³n bajo ninguna circunstancia, pero tampoco crear una situacià ³n difà ­cil para los amigos o familiares. Tambià ©n se pregunta cunto tiempo se va a quedar. Es fundamental tener claro el tiempo mximo de estancia legal. Si se ingresa con una visa, es posible pedir una extensià ³n o cambio de visa, si se cumplen todos los requisitos. Por el contrario, si se tiene una ESTA, se tiene que salir del paà ­s antes de los 90 dà ­as y no es posible, bajo ninguna circunstancia, ampliar ese plazo. Tambià ©n se pregunta cunto dinero se trae y si se tiene algo que declarar. Se trata de no exceder el mximo legal sin declarar y tambià ©n de asegurar de que no se va ser una carga para el gobierno de los Estados Unidos. No hay que llevar mucho dinero en efectivo, ya que se pueden llevar tarjetas de dà ©bito o/y crà ©dito. Otra pregunta clsica es en quà © se trabaja o quà © se estudia. Responder lo mismo que se ha dicho al solicitar la visa. Asimismo, si se llega por avià ³n es habitual que se pregunte desde dà ³nde se vuela. La respuesta correcta es la ciudad desde donde despegà ³ el vuelo pero si se ha hecho escala, se puede contar el viaje completo. Otras preguntas que hay que esperar es si se ha visitado previamente los Estados Unidos. En este punto tener en cuenta las consecuencias de viajes anteriores en los que no se salià ³ a tiempo del paà ­s, y tambià ©n  cunta frecuencia se est ingresando.  ¿Quà © puede pasar a continuacià ³n? Pueden suceder varias situaciones, que dependen de la decisià ³n que tome el oficial migratorio. En la mayorà ­a de los casos, la persona extranjera ser admitida a Estados Unidos, aunque es posible que debe pasar por una segunda inspeccià ³n, que es lo que popularmente se conoce como el cuarto. Si se ingresà ³ con visa de turista, se puede consultar el I-94 –registro de entrada y de salida– para tener claro cundo se debe salir del paà ­s o para pedir una extensià ³n de la visa. Tambià ©n es posible que se le permita entrar aunque no tiene los documentos necesarios. En estos casos se dice que se la ha dado un parole. Es decir, se permite el ingreso aunque no se cumplen los requisitos. Por ejemplo, en los casos de peticià ³n de asilo despuà ©s de mostrar miedo creà ­ble en una entrevista. Tener en cuenta que ya no es posible solicitarlo en la frontera por razà ³n de miedo a las pandillas o violencia domà ©stica y que en estos momentos es habitual que el solicitante de asilo en la frontera espere por meses e incluso aà ±os detenido hasta que se resuelve su caso. Adems, en casos extraordinarios, la persona ser arrestada (aprehendida), como es el caso de que està © buscada por un delito por las autoridades. Y, finalmente, la persona extranjera puede ser regresada al paà ­s en el que se inicià ³ el viaje. La razà ³n es que se considere que es inadmisible para ingresar a EEUU, que es inelegible para la visa que tiene o para la ESTA, o que los documentos son falsos. Como las situaciones de la prohibicià ³n a ingresar son muy variadas, es importante saber si se coloca un I-275 en la visa, o se realiza una expulsià ³n inmediata o, incluso, se permite al extranjero retirar su peticià ³n de ingreso a EE.UU. Todas esas situaciones tienen consecuencias diferentes a la hora de intentar posteriormente regresar por lo que conviene tener claro quà © realmente pasà ³ y por quà © se denegà ³ la entrada. Derechos en el control migratorio de EE.UU. En los puertos de entrada, conocidos en inglà ©s como POE y que puede ser un aeropuerto, un puerto marà ­timo o una frontera terrestre, hay que pasar dos controles, primero el migratorio y luego el aduanero. En los POE, que tienen todos consideracià ³n de frontera, no est permitida la asistencia legal de abogados y, en contra de una opinià ³n errà ³nea muy extendida, lo cierto es que no aplican las protecciones de la Constitucià ³n. Por lo tanto, si asà ­ lo consideran necesario, los oficiales de la CBP pueden tener acceso a nuestros telà ©fonos, cmaras, computadoras y otro material digital. Puntos clave El oficial del control migratorio puede preguntar lo que estime convenienteLa visa o la ESTA no garantizan el ingresoEn los puntos migratorios de ingreso a EE.UU. no aplican los derechos constitucionales Este artà ­culo no es asesorà ­a legal. Tiene una finalidad exclusivamente informativa.

The Development of a Perfect Process Analysis Essay

The Development of a Perfect Process Analysis - Essay Example The writing of essays depends on the topic of choice and the level of interest. The general writing principles of an essay and academic documentation are vital because it is the basis for effective writing. During the introduction to academic writing, several issues were highlighted that were vital in the development of good essays. My personal writing skills development is integral for both academic pursuit and improvement of essay writing capability. Since joining the university, I have been able to develop my language and writing skills. Initially, the understanding of the various issues of writing was a challenge, but due to openness, I have been able to achieve success in improving my writing skills. During the course, I learned several issues that are integral to the writing process. Among the issues highlighted in the course are the different types of essays that exist in the writing process. There are four main types of essays that could be written namely; expository essay, Narrative essay, argumentative essay, and persuasive essay. The four categories of essay offer a diverse approach to writing which includes the presentation of ideas using different fonts. The expository essay is an essay written to explain or describe the topic. These essays include the presentation of methodologies such as how to replace a bulb or how to do something. The expository essay is common when dealing with the explanation of a process. For instance, when an author writes about an invention and the process that innovation employs, he writes an expository essay. The expository essay includes analyzing a topic and developing a conclusive analysis of the topic. It relates to the narrative essay, but the difference is in the analysis part. Narrative essays employ the use of storytelling techniques. The narrative essay does not try to explain the reason for the occurrence but records the occurrence.

Basel II Compliance on Ghanaian Banks Dissertation

Basel II Compliance on Ghanaian Banks - Dissertation Example Thus the Basel II compliance regulations have already successfully shifted the Ghanaian Banks' strategy and policy direction away from their common sphere to a higher level of operational risk management. This study has specifically found out a higher level of positive correlation between customer credit related variables and Basel II compliance regulations. For instance a poor level of customer credit control at major Ghanaian Banks is basically related to the Lukewarm support for the Basel II compliance regulations. Thus this study proves that a higher level of Basle compliance adoption would definitely lead to better operational risk management and thus better customer credit control measures. 1. Introduction Background to the study Structural constraints that affect efficient operational risk management systems being implemented at the individual bank level and the industry level in Ghana. Structural constraints in the Ghanaian Commercial Banking Sector in particular and the whole domestic banking sector in general have been considered to be substantial in scope and effects in preventing the effective implementation of some of the Basel II compliance criteria in Ghana. However at the same time this research effort has identified the existence of some significant structural constraints such as Ghanaian banks' staffs, operational overheads, poor customer satisfaction metrics and significant integration related negative synergies, e.g. technology deficiencies. Thus the Ghanaian Bank requires restructuring of its operational management structures and a reevaluation of its current strengths. The subsequent efforts by the top management to carry out business process remodeling on the lines of strategic operational... Structural constraints that affect efficient operational risk management systems being implemented at the individual bank level and the industry level in Ghana. Structural constraints in the Ghanaian Commercial Banking Sector in particular and the whole domestic banking sector in general have been considered to be substantial in scope and effects in preventing the effective implementation of some of the Basel II compliance criteria in Ghana. However at the same time this research effort has identified the existence of some significant structural constraints such as Ghanaian banks’ staffs, operational overheads, poor customer satisfaction metrics and significant integration related negative synergies, e.g. technology deficiencies. Thus the Ghanaian Bank requires restructuring of its operational management structures and a reevaluation of its current strengths. The subsequent efforts by the top management to carry out business process remodeling on the lines of strategic operational reorientation have produced mixed results though there aren’t known metrics to measure the success rate. Structural constraints apart a number of ot her drawbacks have bedeviled the outcomes to a certain extent though. Domestic banking industry in the international arena in general and Ghanaian Banking sector in particular has been experiencing an upsurge in demand and supply over the past years due to a variety of reasons, including the strategic ones affecting fundamental industry-centric structures and policy related outcomes.

Democratic Peace Theory Essay Example | Topics and Well Written Essays - 2000 words

Democratic Peace Theory - Essay Example 5). In that context the democratic peace theory not only directly challenges the validity and efficacy of the alternate political systems, but also the existing accounts of international relations that lay emphasis on the concepts like the strategic common interests and balance of power machinations, while delving on the international relations between salient democratic powers (Newman & Rich 2004, p. 5). Democratic Peace Theory In a simplistic context, one could ascribe the democratic peace theory as a theory that upholds the fact that the democratic nations seldom engage in war with each other (Schraeder 2002, p. 17). There exist varied other terms aimed at explaining and grasping this theory like ‘inter-democracy non aggression hypothesis’ or ‘mutual democratic pacifism’. ... 17). The other hypothesis that is put forward in the support of the democratic peace theory is that the democratically elected leaders are conversant in resolving issues through negotiations, and hence they carry on with this attribute in their approach towards foreign relations (Schraeder 2002, p. 17). No wonder, there are many people who tend to deny or criticize the democratic peace theory. What is Democracy? To a great extent the validity and relevance of the democratic peace theory is dependent on as to how one tends to define or explain a democracy. Although there is no single paradigm that grasps a holistic definition of democracy, yet, experts have identified varied salient features that delineate an ideal democracy. On most important attribute of the democratic nations is that they do have a democratically elected constitutional form of government that is answerable to people. Besides, these constitutionally elected governments happen to be representative in their scope and nature, directly responsible to the public sentiments, beliefs and aspirations. A workable and pragmatic democracy is always subservient to the principle of the separation of powers, where the powers of the state are judiciously allocated between the varied pillars of democracy like the executive and the judiciary. All the worthwhile and true democracies do extend varied judicial and legal rights to their citizens, which are legally and ethically upheld by the constitution and the state. Last but not the least, democracies do believe in extending avenues for participation to varied sections and segments of the society. Hence, in the interest of practicality, while delving on the democratic peace theory; one does

Globalization in Media Research Paper Example | Topics and Well Written Essays - 1500 words - 1

Globalization in Media - Research Paper Example It is difficult to stop media globalization because it is taking place due to innovative communications in technology. Although globalization media plays significant roles in shaping culture and improving social standards of living, it has contributes to loss of cultural identity; thus contributing to a global village. The decentralized nature of communication media such as the use of Internet has improved the social, living standards of people in the contemporary society. The use of social media sites and as well as the e-mail sent through the Internet has made communication cheaper. The Internet is among the most widely communication media techniques used by many people including commercial industries in carrying out business activities. Moreover, the social networking sites has improved the social life standards of people in the society because social networking sites such as Facebook, Twitter, MySpace and many others have enabled many people to communicate easily with friends or relatives across the globe. Many students and business companies utilize the Internet nowadays in carrying out research activities; hence, it facilitates effective learning and enabling companies to carry out marketing research effectively. Nezmah (224) argues that the increased global market media is through new digital technology that has made global markets effective and profitable. Many companies especially the international companies are now able to compete favorably with their competitors because of new digital technology. This has enabled many of the multinational companies to achieve competitive advantage in the market. The use of Internet, radio and television in advertising innovative products in the global market has enabled commercial companies to increase their sales; hence generating a lot of revenues. The international companies have formed new

Military Salary Research Paper Example | Topics and Well Written Essays - 1000 words

Military Salary - Research Paper Example One of their duties is to respond positively to orders whenever they are called upon. Members take oath of protecting the country from both internal and external attacks. Many are times when militants travel outside the country to help in peace keeping in such countries. During their encounter with their enemies who are also armed, some may be injured or killed (Salkind, 2009). According to Sorenson and Wood (2005), militants should be ready for work always. Sometimes they are called upon during late hours of the night or on weekends when they should be resting. Patrolling late at night puts them at risk of attacks by enemies or gangsters. Sometimes they are forced by the nature of their job to spent long periods away from their family members. Militants may be sent to work in areas where climatic conditions are not favorable for their health. For instance, tsetse fly and mosquito infested areas or areas were getting the necessities, as water is a problem. They are likely to contract diseases from such areas. Based on the risks that military officers are prone to, the salary they are paid cannot cater for the risks and commitments involved during their work. The proposal aims at identifying the reasons as to why the salary received by military officers however large they may be cannot adequately cover the risks and commitments involved in serving their countries (Nasu, 2009). ... Some like weapons like bombasts and grenades cause deaths of large numbers of people depending on their weight. Militants are of no exception during such periods. Making use of the above weapons causes death of many militants. Injuries that may lead to disabilities may also occur. This study aims at understanding why the amount paid to military officers is not enough to cater for the risks and commitments involved during their service because they are at risk of death. The study is important because the salary of the military officer will never benefit them if they happen to be victims of death during wars. Why get huge salaries and put your life at risk is a question of major concern. Research Rationale The purpose of carrying out the study is to determine why salaries that military officers earn are not sufficient to cater for the risks involved and commitments during their service to their countries. In order to determine the role of study, qualitative methods of data collection w ill be used. These include focus group discussion in which military officers will be selected randomly then discussion about the topic is conducted. The other method is interviewing individual military officers to get their views. Finally, the research can gather information through direct observation of military officers as they carry out their operations. The above methods of data collection will help the researcher gather adequate information. This study is related to demographic issues and work force in the country as deaths among military officers reduces workers and population in the country. The payment given to militants is not enough to cater for their risks and commitments because the chances of

Can parents who abuse drugs and alcohol be good enough parents Essay

Can parents who abuse drugs and alcohol be good enough parents - Essay Example In 2006, a study revealed that about 5% of all adults in the UK are alcohol-dependent with one out of 24 parents drinking heavily; these figures put about one million children living with alcoholic parents (In the news, 2006). The Institute of Alcohol Studies (2009) also revealed in their latest statistics that 22.1% of children in the UK are living with alcoholic parents; and about 8% of children in the UK are living with parents who are drug abusers. Moreover, 3.6% of children live with parents who are both alcohol and drug abusers (Institute of Alcohol Studies, 2009). In other words, these children are put at risk of being exposed to neglectful and abusive parents. Alcohol abuse and substance abuse potentially affect entire families and these are also habits which, if not stopped, are often passed on from generation to generation (In the News, 2006). With the above considerations, this paper shall now answer the question: can parents who abuse drugs and alcohol be good enough pare nts? This discussion shall use relevant literature, theoretical frameworks and research findings in order to come up with a thorough and critical understanding of the subject matter. Various studies and researches shall be evaluated in relation to this subject matter, analysing them for validity and credibility. Drugs and alcohol have different effects on different people. Shaw points out succinctly that â€Å"the good and bad effects of alcohol lie in complex psychological and sociological continua...Concepts of use and abuse have therefore been open to equally wide interpretations† (Shaw, 1978, p. 41). The effects of drugs and alcohol largely depend on a person’s physiology and sociology. Indeed, the adage, â€Å"being able to handle one’s drink† is appropriate in determining the effect of alcohol on a person. Some people may be able to handle their drink well, and others, not at all. Nevertheless,

Military Salary Research Paper Example | Topics and Well Written Essays - 1000 words

Military Salary - Research Paper Example One of their duties is to respond positively to orders whenever they are called upon. Members take oath of protecting the country from both internal and external attacks. Many are times when militants travel outside the country to help in peace keeping in such countries. During their encounter with their enemies who are also armed, some may be injured or killed (Salkind, 2009). According to Sorenson and Wood (2005), militants should be ready for work always. Sometimes they are called upon during late hours of the night or on weekends when they should be resting. Patrolling late at night puts them at risk of attacks by enemies or gangsters. Sometimes they are forced by the nature of their job to spent long periods away from their family members. Militants may be sent to work in areas where climatic conditions are not favorable for their health. For instance, tsetse fly and mosquito infested areas or areas were getting the necessities, as water is a problem. They are likely to contract diseases from such areas. Based on the risks that military officers are prone to, the salary they are paid cannot cater for the risks and commitments involved during their work. The proposal aims at identifying the reasons as to why the salary received by military officers however large they may be cannot adequately cover the risks and commitments involved in serving their countries (Nasu, 2009). ... Some like weapons like bombasts and grenades cause deaths of large numbers of people depending on their weight. Militants are of no exception during such periods. Making use of the above weapons causes death of many militants. Injuries that may lead to disabilities may also occur. This study aims at understanding why the amount paid to military officers is not enough to cater for the risks and commitments involved during their service because they are at risk of death. The study is important because the salary of the military officer will never benefit them if they happen to be victims of death during wars. Why get huge salaries and put your life at risk is a question of major concern. Research Rationale The purpose of carrying out the study is to determine why salaries that military officers earn are not sufficient to cater for the risks involved and commitments during their service to their countries. In order to determine the role of study, qualitative methods of data collection w ill be used. These include focus group discussion in which military officers will be selected randomly then discussion about the topic is conducted. The other method is interviewing individual military officers to get their views. Finally, the research can gather information through direct observation of military officers as they carry out their operations. The above methods of data collection will help the researcher gather adequate information. This study is related to demographic issues and work force in the country as deaths among military officers reduces workers and population in the country. The payment given to militants is not enough to cater for their risks and commitments because the chances of

Relation of learning styles and business training Statistics Project

Relation of learning styles and business training - Statistics Project Example This chapter presents the results of analysis of the data that have been collected through sample survey. The data have been edited and coded using Micro Soft Excel and analyzed with popular statistical package- SPSS. The analysis has been undertaken in conformity with the research objectives and hypotheses set. The chapter also discusses and justifies the proof/rebuttal of any hypotheses. The major findings of the study are also demonstrated after analysis of each relevant question. Figures are exhibited wherever appropriate to make it more readable and comprehensible for readers. The above table exhibits the number of workers employed across departments. It is clear that operations department has largest number of workers and project department has only 9 workers out of the sample 74. It is also evident that department project and operations employ no female workers and the entire female employees working with the organisation belong to support department. The Table No. 2 shows the work experience of employees. Among the sample respondents, 27 percent have got experience in between 3 and 5 years. It is also clear that of the total; only 19 percent employees have experience of more than 9 years. Employees having less than 1 year experience accounts for only 20 percent, which is backed by 16 percent with 5 to 9 years experience. Table No. 3 Employee Opinion on Training Effectiveness Response Frequency Percent Strongly Agree 13 17.6 Agree 39 52.7 Neither Agree nor Disagree 8 10.8 Disagree 8 10.8 Strongly Disagree 6 8.1 Total 74 100.0 This table depicts the employee opinion on the effectiveness of training programme undertaken by the firm. Majority of the employee support the training programme that they believe training programme is effective. Among the supporters around 18 percent strongly agree, while 53 percent agree with the present system of training. However, those who do not support the present system accounts for around 19 percent, which does not sound to be a negligible one. Table No. 4 Employee Response to Mentor Method Response Frequency Percent Strongly Agree 5 6.8 Agree 5 6.8 Neither Agree nor Disagree 22 29.7 Disagree 31 41.9 Strongly Disagree 11 14.9 Total 74 100.0 Table No. 4 is intended to present the employee response to mentor method of training. It is clear that majority of the employees do not support the innovative method. Employees who support account for a meager percent when compared to that of non-supporters. Non-supporters come to around 57 percent, while those who reluctant to opine on this is around 30 percent. Table No. 5 Employee Response to Benefits of External Training Response Frequency Percent Agree 14 18.9 Neither Agree nor Disagree 31 41.9 Disagree 18 24.3 Strongly Disagree 11 14.9 Total 74 100.0 Table No. 5 shows the response of employee to External training arranged by the firm. It is evident

Rooms and University Essay Example for Free

Rooms and University Essay My first day at University is a very important and memorable day in my life. I was waiting all the summer in 2011 to enter at the university at January 2012. That day i was so excited at as well as I was very nervous because it was my first day in the university and I didnt know any person. But at the end my first day in the university was wonderful. I had no idea how to arrive to my classroom and which room will be our class room. So I had to ask to the reception, where I was going to take classes. This person was very nice and told me the right direction. I walked to the building, and when I arrived I saw some people and I felt strange. I come up to to one girl and I asked for the classroom and I discovered that she is my close friend Shima from my school and college level and we were in the same group and I felt less nervous and comfortable . Then we went to the class room. When we began our classes, our lecturer first introduced herself and then we introduce our self in the class room. At the time of introducing all our classmates were quiet, nobody talked. I approached with two other girls they were completely unknown to me. I introduced myself, then they did the same and we began to know more about each other, like where we were from or what we did. After that, we spent the rest of the day together until we had to go home. I always remember this particular day, the reason behind it, it gave me a chance to meet with new people and making new friends. From my point of view, it is normal to be nervous in the first day at university but, there was a happy ending. So I think my first day at university was a fantastic day and it will be a memorable day in my life as said earlier.

An Introduction About Aldi Commerce Essay

An Introduction About Aldi Commerce Essay The reason of this assignment, analysis the Porters five forces and value chain and explain how information technology affects the business (base of Porters five forces and value chain) of ALDI. ALDI is a known retail shop in UK, actually it a Germany base business organisation, its one of a medium size grocery related chain shop in UK, lat few years they are doing business in UK. Michel Porter has written difference view how do IT helps an organisation to achieve their goal and provide better service for customer, the activities what is doing by an organisation is influenced by IT, IT helping any business organisation to complete their work properly and gaining profit easily, Information technology lead an organisation to achieve the final goals of it, information technology is combine of computer base work, study, development and application, which helps an organisation to analysis the performance of it, by using Information an organisation can understand how should its go ahead fo r next step, in below I am discussing how analyzed the Porters five forces in ALDI and how they effects on the activities of ALDI, and the way how IT helps an organisation (ALDI) to improve and achieve its goal. 02. An introduction about ALDI ALDI is the short form of Albrecht Discount. Its a global discount supermarket chain based in Germany. ALDI working in UK as a medium type of supermarket. The main product of ALDI is daily necessary household product, dairy food, vegetable , alcoholic product like wine ,beer ,whisky etc .ALDI also selling difference type of dress for male, female and kids. ALDI is selling retail product, founded at 1913, founder Karl Albrecht and Theo Albrecht. The head office of ALDI is in Essen, Germany. Mathew Barness is CEO of UK operation. 03. Competitors of ALDI Local superstore Off licence Iceland Wait rose Even TESCO, Sainsbury, ASDA also competitors of ALDI. 04. Porters five forces Porter finds out five things that work together to change the work of a competitor in a business organisation (Michel E Porter-2003). Those all are- Threat of a new entrance Bargaining power of supplier Bargaining power of customer (buyer) Threat of substitute product Degree of competitive rivalry All of those forces are very important to analysis any business organisation, threat of new entrance, supplier bargaining power, customer bargaining power , substituted product, competitive rivalry all of these effect any business organisation, in below I am analysing those forces on ALDI and showing how IT helps ALDI to maintain and overcome those factors and go ahead to its goal. 04.1. Threat of the new entrance: ALDI is familiar retail shop, but there are some reasons which create the threat of new entrance. Because of economic reason ALDI need to give lower price in difference product but its not profitable. For new entrance its complicated to achieve goal to sell product in lower price. Selling product within lower price decrease the profit of an organisation and make it more difficult to achieve goal (Mahdi Khosropour-2000), as a result sale of lower price can be a risk for ALDI. Access to supply and distribution is easy but sell is not high by new entrance. Product could be sale in same price in difference store and ALDI but product are same in food retail industry so loyalty of customer is low. In these cases new entrance could be a threat for ALDI. But most of the customer of UK is brand conscious, sometimes customer care brand more than price and ALDI have some of attractive product which attract the customer and attract them to ALDI. 04.2. Bargaining power of supplier: This force indicates the power of supplier which can effect by the large grocery chain and fear the risk of large supermarket. As their have lots of small supplier of product all over the UK so the bargaining power of the supplier is fairly low for ALDI. As their have lots of supplier in market so any supplier dont want to lose their business contract with a supermarket like ALDI, as a result ALDI getting Good product within reasonable price. 04.3. Bargaining power of buyers: Customers are always careful about price and their bargaining power is too high in market, their have lots of opportunity to chose the right product on reasonable price (Edward J.szewczak. coral R Snudgrass-2002). Porter said that the more product that become standardized or undifferentiated, the lower the switching cost and hence more power is yielded to buyers. (Porter M 1980) Their have (in market) lots of competitor of ALDI where slight difference of and more standardised as the switching cost is low so buyer can move another brand too easily. To convince the customer ALDI is giving difference types of promotional offer. ALDI photo voucher Voucher code ALDI discount code Promotional code These all are to convince customer as the bargaining power of buyers are high. 04.4. Threat of substituted product: Threat of substituted is really very high for ALDI, the large supermarket like TESCO, Sainsbury, ASDA, Morison they all are bringing same product at market so customer can be more attractive to them. If ALDI give the low price for substituted product may be their sell will increase but their have a risk of lose, as gaining profit is the main purpose of a business that why substituted product is being a threat of ALDI. 04.5. Threat of new competitor: The threat of new competitor is nearly very low in food retail industry. Where lots of organisations are already doing business a new organisation cant achieve their goal easily (Dan Davis-2005) for a new retail industry its need a huge investment beside major brand like TESCO, Sainsbury, ASDA, and Morison already captured the market. In these view threat of new entry is low for ALDI. 05. How information technology effect on Porters five forces on ALDI Information technology is a combine of study, development, application, implementation and support of computer based system. Information technology is using each and every business organisation to achieve their goal easily and completely (Kathy Schwalbe-2010) ALDI is using information technology for its business purpose. In bellow I am explaining how information technology effect on ALDI (Porters five forces) Because of information technology all information is being spread to all over the world, as a result when ALDI was in new position at market IT helps it to provide information to all customer so on beginning ALDI got help from IT. Every business is being face with their supplier, IT helps ALDI to minimise the bargaining power of supplier, how do ALDI will best product in reasonable price and from where IT can gather knowledge very easily from difference source of internet, so bargaining power of supplier decrees because of information technology. On the other hand, because of information technology bargaining power of buyer is being high, customers are being able to know about product too easily, customers can collect knowledge from difference source of IT like internet, advertisement of difference media like TV, magazine and newspaper. To minimise the bargaining power of customer ALDI also getting helps From IT, ALDI is providing its promotional information to customer by advertising in difference way which is the part of IT. When any chain grocery market launch any new product on market ALDI take these information and try to create same category product as a result ALDI can survive itself with a new product. ALDI is an established chain shop, ALDI dont have too much threat of new competitors, when its face the threat of new competitors IT can help ALDI to reduce these threat. 06. Value Chain To provide the best customer every business doing the value chain analysis, Michel Porter introduce value chain analysis on business organisation, inbound logistic, operation, outbound logistic, marketing and sales, services, infrastructure, HR, technological development, procurement those all are included in value chain. (Michel Porter-1985). In below I am showing value chain as activities of an organisation. 06.1. Activities of ALDI Activities means the work of any organisation, business activities means the business related work for any business organisation. Business activities helps any business improve their profit, how good a business doing is depends on the activities of those business (Kathy Schwalbe-2010), so improve any business, business need to be more active and conscious about the business activities, their have two difference part of any retail business activities, so we can define the activities of ALDI in two parts, those ares- Primary activity Secondary activity 06.1.1. Primary Activities: Primary activities means the primary work of any organisation, a business organisation is doing their primary activities to collect product from supplier, payment of supplier. Bring product to store, store product to warehouse, and decorate the product to shop floor, marketing of product, sales and delivery of product those all are part of primary activities. To make easy the business activities every business organisation is doing their primary activities in two ways, which helps any business to complete their activities easily (Carroll W. Frenzel Jonn C. Frenzel-2004) ALDI is doing their primary activities in two ways- Inbound logistic Outbound logistic Product which are use for sale -receive, store and disseminating process of those product is called logistic. Inbound logistic: The process of a business organisation collect product (product for sale) is called inbound logistic. The way ALDI is doing their inbound logistic those are- Every business need to order to their supplier for the product, thats the first work of inbound logistic, thats the first step of getting product , in these stage ALDI orders to their suppliers for product When ALDI orders to supplier, supplier approves the order and send product to the difference store of ALDI To get right product in right ALDI do kitting and sequencing For quality control ALDI is doing inspection, replying and differencing ALDI manage a good relationship and cash flow with supplier by vendor And managed inventory When all the process become finish ALDI store the product in their warehouse Outbound Logistic: Gaining profit is the main purpose of any business organisation, without profit a business cant run their business, to achieve profit business need to provide service or product or to customer(Mahdi Khosrowpour-2000). The process of a business organisation to distribute the product or service to customer is called outbound logistic. Process of outbound logistic in ALDI: ALDI follow a process for its outbound Logistic, Marketing Sale Delivery Marketing: The way business give knowledge to customer about their product is called marketing, to attract the people about people business need to do marketing about product. Their have lots of way to do marketing, giving advertisement to difference media like newspaper, TV, magazine, talk to customer directly those all are way of marketing. To achieve any business you need to make aware about your product to customer, ALDI is making aware customer about their product by giving advertisement on difference media like newspaper, TV and magazine. Sale: Sale is the one of major function of business (Dan Davis-2005), without sale a business cant earn profit. The way ALDI sale their product its as usual like any other retail shop, customer visit the shop and chose product, pay bill on till, ALDI also take phone reservation for special buys. Delivery: Delivery the product to customer is the final part of outbound logistic, when customer chose any product and collect these product from shop floor and pay money on till product is ready for customer, if customer make a reservation for special buy, they have to be collect product from shop. In here I want to highlight that ALDI dont do home delivery. 06.1.2. Secondary Activities: Procurement, technology development, human Resource, IT infrastructure those all are part of secondary activities (Michel E porter-2003) Procurement: Procurement is a process of buying services and products, in this process preparation, processing, demand, receipt, payment approval all are included. In below in am showing the include process of procurement for ALDI To improve the business policy of ALDI, its following a procurement process, those all are- To buy product from supplier ALDI make a plan for parching ALDI do standards of plan as its can buy best product within reasonable price Development of specification To get right product ALDI research about supplier, after research its prefer the best supplier for collecting product and select the best supplier for product Analysis of value After analysis value ALDI find out the source of finance Negotiation of price In these stage ALDI make decision to do final purchase Contract to the administration is the next procurement process after final purchase ALDI control the inventory and store product After all of these processes as a final stage ALDI do disposals and related function of disposals. Technology Development: Technology development is research and development and the use of research and development, research of a product help to improve the quality of product, by researching its possible to develop the quality of product (Ronald Zigili-1992) ALDI is doing research with the product and service and developing new product, when any other retail shop bring a new product to market ALDI research those product and develop a better product and lunch it to market as result sales increase. Technology development helping ALDI to gain the aim of ALDI, increasing sale is the most effective way to earn profit (Edward J. Szewczak. Coral R Snodgrass-2002) as sale is increasing because of technology development ALDI is gaining profit easily. Human Resource: Human resource or manpower is the main driving power for an organisation; organisation cant do anything without human resource (Edward J. Szewczak. Coral R Snodgrass-2002). Human resource means the human power who is working with an organisation, technologies supporting us in every way of life, but human have to be manage the technology, without human resource technology cant do anything. For business purpose ALDI is recruiting human resource from difference sector, for managerial level to shop floor member. A huge number of people working for ALDI, after requite a stuff ALDI trained the stuff for better service, people who is directly related with customer service they can provide better customer service by getting training , managerial level people also getting training for better service . ALDI is selecting best people for its business organisation, to recruit best people ALDI is following the recruiting process, when ALDI need any stuff, they advertise on their website and collect the application from candidate , its select the best candidate , after selection candidate need to face on interview, ALDI select the best candidate by interview and see all the quality of candidates, are they qualify for work or not, by doing all of these process ALDI is bringing best people for services. Overall, its clear that the people who is working with ALDI they are the best qualify and giving best service for organisation. Infrastructure: Infrastructure is combine of people, technology, system, procedures, policies, processes and intellectual property, all of these elements are co-related with each others. ALDI is maintaining a good relation with those chains as a result its being able to maintain a better organisation infrastructure. The stuff of ALDI is maintaining the chain of command so its being able to provide better service for customer and gaining profit easily. 07. How information technology effect on value chain of ALDI Today world is world of technology, any person or any business organisation cant do anything properly without help of technology and information technology, as ALDI is an business organisation its cant do anything without use of information technology. Firstly, Information technology influence the primary activities of ALDI, inbound logistic to outbound logistic all of these process are being success properly because of information technology , information technology helps ALDI to collect products for supplier, online order to supplier, granted order by supplier, sending process(transportation) those all are being done easily because of information technology Information technology working like blood circulation in business word, now days any business cant think about their business without help of information technology (Gerge Reynolds-2009). ALDI is doing marketing using advertisement of difference media like newspaper, website, TV magazine those all are part of information technology. Information technology is helping ALDI to develop their sale, attract customer by giving difference type of advertisement is increasing sale of ALDI, customer want to collect their product as early as they need, giving phone reservation to ALDI store is making easy for customer buying product and when they come to the store, ALDI deliver their product by checking phone reservation, which are the part of information technology Considering all of those issues, I can say that information technology influencing the primary activities of ALDI. Secondly, information technology is helping ALDI to make a better procurement process and all the process are being done by using of information technology , for technology development, research and develop a new product IT helps it to collect information from difference sources , manage and recruit human resource, maintaining IT infrastructure all are being possible by using of information technology. 08. Conclusion: Today is day of information technology; information technology is affecting every step of life. Information technology is effecting the every business and every organisation, from the above we can see that how information technology influenced the business of ALDI, its also showing the how information technology helping ALDI ho to work in every step of business and how to overcome the risk of business, within less business how to achieve maximum goal of business, all of those policy are described on above.

Owens Valley Tragedy :: Environmental California Essays

Earth’s Seemingly Irreparable Landscape Time and time again it has been seen that human interaction with his/her environment and it’s ecosystems has shown to be increasingly arrogant and self-serving. These endless accounts are proven by the amount of important biological diversity that is being lost to the surrounding environment due to these threats of human development and population growth. There are two forms of these losses of diversity by human hand: direct and indirect. Direct losses would be the destruction of an area needed for human requirements be it social or economical. Examples of these losses would be housing, agriculture, and others. Indirect losses would be those caused by the destruction of an area also needed for the same requirements but the area’s commodities which are valued, water, food, land in general, is needed elsewhere. These losses are few in number compared with those of direct losses yet they are of the greatest importance. They are important because they involve the removal of resources of an area in which other inhabitants are dependent upon. A great example of this regrettable indirect expansion is the loss of the rich habitat of the area known as Owens Valley. Owens Valley History Owens Valley lies to the east of the Sierra Nevada mountain and west of the White-Inyo mountain ranges, just to the west of the U.S.’s Great Basin. Early settlers to this area, as all other immediate surrounding area’s originally, were Indians, one of the Paiute tribes. This tribe lived by a simple and direct policy in terms of living with the environment. Their food supply was derived from seasonal crops of wild seeds and roots, fishing, and hunting of the deer, antelope, mountain sheep, jackrabbit, and waterfowl which flourished along the valley floor and hillsides. They took only what they required for food and trade. Unfortunately, pioneer expansion soon took precedence with the majority of them being miners who migrated to the region from the east following the Western mines (Sauder, 1994). With this colonization came agricultural expansion as well, which included cattle production and various farming crops. Of course, confrontation, the beginning of a lifetime of fight over Owens Valley, was spurred with the Paiutes over ownership of this rich valley abundant in usable resources. Due to the Paiute’s simple and peaceful attitude, the early pioneers took over the valley and every one of it’s resources, placing the Paiute’s out in the cold, where they continued urbanization and agriculture of the landscape.

Be Our Guest

Be Our Guest, Inc. Case Analysis Page 1 INDEX 1. Key success factors & company performance†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 3 2. Bank perspective regarding the performance†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 7 3. Bank financing perspective at the end of 1998†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 10 4. Management perspective regarding the bank financing†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 13 5. Exhibit 1 – Annual Income Statements (1994-1997)†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦17 6. Exhibit 2 – Annual Balance Sheets (1994-1997)†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢ € ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 18 7. Exhibit 3 – Quarterly Income Statements 1997†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 19 8. Exhibit 4 – Quarterly Balance Sheets 1997†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦20 9. Exhibit 5 – Forecasting†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦21 10. Exhibit 6 – Annual Ratios†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 22 11. Exhibit 7 – Quarterly Ratios†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 23 Tudor Team Five Page 2 1. What are the key success factors in this equipment rental business? How has the company performed the past few years? Key Success Factors Five of the key success factors are as follows: First, the locat ion of the business is ideal for handling several projects at once. This is due to their central Boston location. The ability to handle everal projects at once gives the company a competitive edge and allows them to attain a performance as close to the full potential of the company as possible. Second, the company’s leaders have been successful in networking to primary and secondary clients. This has aided in growing a business that is based on a foundation of good company/client relationships. These strong relationships have led to significant repeat customers as a strong basis of the company’s revenue. Fostering these relationships throughout the years of the company’s existence has also led to sustained revenue growth year after year. This revenue growth is shown in the financials and, using the Compound Annual Growth Rate, it can be seen that this growth in revenue has been 14. 26% from 1994 to 1997. Third, the executive management is well experienced in the hospitality industry as well as other industries that relate to the successful operation of a business. Stephen Lizio was involved in the food and wine business prior to founding Be Our Guest in 1983. Al Lovata was previously a banker and began his relationship with Be Our Guest as a financial consultant, later joining the organization full-time as the Chief Executive Officer. Lizio and Lovata together form a foundation of strong knowledge of the hospitality Tudor Team Five Page 3 business and the vital knowledge of finance, thus giving the business a core of understanding both its industry and how to manage the money coming into the company. Simone Williamson was brought on to the team and comes from years of experience in the food service business. She also came to the company with strong networking connections in the catering industry in Boston, which further reinforces the second success factor described above. This management team is made up of members that complement ach other’s strengths, as well as provide the necessary skill sets for running a successful business. The fourth key success factor is that the company identified its business plan early on and held its course throughout the years without deviation to business expansions that would have resulted in higher profits but fewer turnovers. This can be seen in the company’s analys is of the potential of The executive team determined that this entering the tent rental market. market, though highly profitable, would result in time delays and longer turnovers and would split their core business. The team recognised that this split could result in lower profitability and splintering of the core business structure. Rather than expand into a low profit margin business â€Å"tents†, in which the management lacks market expertise, they chose to stick to their initial business plan and focus on their key strengths rather than deviate from the company's set fundamentals. This example illustrates that the company followed its original business plan and complied with its mission and vision from the beginning without deviation. In doing so, the company built a strong foundation and upheld the strength of that foundation. The fifth key success factor identified here is the high quality of service as well as the high quality of the rental equipment provided to clients. The executive team recognised early that they could compete in either price or Tudor Team Five Page 4 quality, and the team chose to compete in quality. Part of this high quality service is seen in the company’s dedication to its clients through its willingness to deliver only one table on short notice if a client is in need. Through high quality service, the company has upheld its networking connections to clients by building strong relationships. This high quality service combined with high quality rental equipment products has allowed the company to obtain a competitive edge over its competition, keep that competitive advantage, and foster strong company/client relationships throughout the years. How has the company performed the past few years? Viewpoint – Independent perspective Be Our Guest, Inc. originated in 1983 and is still thriving in a very competitive and volatile industry 14 years later. Over the past few years the company has shown significant growth. We see that Annual sales revenues have consistently risen from 1994 to 1997 with a Compounded Annual Growth Rate (CAGR) of 14. 26%. 1997 was an impressive year for the company with a 22. 7% increase in revenues. Gross Margins were very consistent year over year for 1994 through 1997. Gross margins for 1994, 1995, 1996 and 1997 were 53. 9%, 49%, 52. 63% and 55. 5%, respectively. Be Our Guest, Inc. is doing a solid job of keeping the Costs of Revenue in line with the Sales Revenue. It is a positive sign to see this growth, because we can be assured that the company is staying competitive, while not completely giving in to the pricing crunch. Annual Sales Revenue has a strong CAGR, but it is important and concerning to note that the CAGR of total Operating Expenses is higher. It is about 5% higher and this is very important, because Be Our Guest needs to stay in control of its expenses. Tudor Team Five Page 5 The high and increasing Operating expenses are cutting into the Operating margins, which also cuts into the bottom line. Be Our Guest’s balance sheet shows good signs of liquidity. Current Ratios for the past four years have remained above 1 proving that the company can handle its current liabilities. The current ratios are not extremely high (19941. 7, 1995- 2. 17, 1996- 1. 15 and 1997- 1. 16), but they can cover the current liabilities. It is important to note that the company is operating on a thin line because the current assets are barely covering the current liabilities. This is particularly unpleasant because we are dealing with a company operating in a seasonal business. It is a concern that the curren t ratio slightly eroded after 1995, and this is primarily due to Be Our Guest converting the bank line into long term debt in 1995. The current ratio in 1995 is an outlier, because 2. 17 do not accurately represent the company. The quick ratio is the same as the current ratio for Be Our Guest because they do not have inventory for all of the rental equipment is under property and equipment. They display a good working capital position as well, which is another measure of liquidity. Cash position is a concern for we can see in 1994 and 1997 that they actually had an Overdraft, and for 1995 and 1996 cash is not very high. However, this company is in an industry that is more of a receivables business, so the cash position is not a high concern, especially given that it is covering the current liabilities. Since this is a receivables business it is important to look at the Receivables Turnover ratio, and we find that this is quite consistent, however when comparing to the Payables Turnover ratio we see that they are paying out more quickly than they are receiving, which is a problem. In 1995 they are paying out twice on average before collecting. Be Our Guest needs to focus on getting its receivables in a more timely manner. Tudor Team Five Page 6 2. As the bank loan officer, Anne Granger, how would you view this company? What concerns might you have about the business and the lending elationship? What factors provide a source of comfort when considering the credit risk? Anne will look at Be Our Guest, Inc. with both an annual and quarterly perspective really focusing in on the company’s liquidity, leverage and how they will match up to the covenant ratios established. The company is liquid, but it is not extremely liquid. Be Our Guest, Inc. is barely covering the current liabil ities, and from a banks perspective we would want to see that there are not any concerns in this area. If the company is to become insolvent, we want to be able to get our outstanding balance back. We know that Q1 is the worst quarter for the company, and you can see that for Q1 1997 the company displays a current ratio of . 88, which is simply not good, and means that during that quarter they did not have the ability to pay all current liabilities, therefore having to access the line of credit during this quarter. Q1 is also the hardest month for this company to retain its receivables, which can sometimes be the cause for liquidity problems. The top line growth is great to see, especially in the competitive space that the company operates in, but we also need to examine the rest of the income statement. It is concerning to see the Operating Profit Margin as well as the Interest Coverage Ratio declining year over year. Operating Profit Margin shrinking is a negative because it indicates that the company is not controlling its operating expenses. Interest Coverage Ratio is especially concerning because this ratio indicates the ease of paying the interest on the outstanding debt, and Be Our Guest, Inc. may struggle paying the interest down the road if the ratio continues to decline. Note that the company is currently fully capable of paying for the interest on an annual and quarterly Tudor Team Five Page 7 basis, but the trend downward will be noticed. Be Our Guest, Inc. relies on debt to build the business as you can see from the long term debt to equity ratios. However, the ratios are fairly consistent and it drops down to . 43 in 1997. The company is more than capable to cover the interest of this debt as noted earlier. Cash Flow is being adversely affected due to the abnormally large increase (56%) in G during 1997. According to the footnote on page 4 of the case, a company the size of Be Our Guest should have G sales in 1997 closer to $565,718 rather than the $840,718 that was reported. The bank will keep a particular eye on Cash Flow/Debt Service Ratio and Debt/Tangible Net Worth Ratio along with the bottom line, since the covenants include requirements regarding these. The covenants require the Cash Flow/Debt Service ratio to not be less than 1/25:1, and the company is in line with this covenant on an annual basis. However, the company does not satisfy this covenant when looking at the quarterly figures. Debt/Tangible Net Worth cannot be greater than 2. 00:1, and Be Our Guest, Inc. satisfies this covenant on an annual and quarterly basis. According to the covenants, the company can’t incur two consecutive quarters of net losses; nor incur a net loss for any fiscal year. The company did incur a loss in Q1 1997, but followed with a strong Q2 net profit, so the company is in compliance with this covenant as well. Be Our Guest, Inc. is in a seasonal industry, which is a concern, but even more of a concern is the company’s inability to produce projections. We understand that projections may not be extremely accurate, but it is possible to project through the use of confidence intervals. The bank becomes a little more comfortable with the seasonality because they feel that Al Lovata (former Banker) is aware of the risks associated and has a handle on them. Tudor Team Five Page 8 The balance sheet is decent, but it is not incredibly strong because it is barely covering the current liabilities. As a banker we would also be concerned about the customer makeup. Be Our Guest, Inc. relies heavily on two particular customers (Customer A and B), which make up over 21% of the company’s sales. These two customers make up 1/5 of the company’s budget, and I would like to know if the company has any backup plans in case they lost either of these customers and has performed the due diligence required to make sure its major customers are not insolvency risks themselves. Other than these top two customers, it appears that the customer base is spread out appropriately. The strong covenants in place are a source of comfort for the bank. Not only do they have strong covenants, but the bank also has virtually all of the company’s assets pledged and the shareholders guarantee the loan. Given that this is an S Corporation, the shareholders’ personal assets would be safe, but since these shareholders guaranteed the loan, the bank can go after the personal assets of the shareholders. Be Our Guest, Inc. is not a start-up company, and it has been in operation since 1983, so there is a level of comfort knowing that this company has been around for over 10 years and has been remotely successful during this time as well. It has great management in place who each contributes strong and complimentary experiences along with a level of expertise. This company is focused and driven to provide the best service they can within the industry, and they have been rewarded for it with the 1997 Small Business Firm of the Year. While Be Our Guest may not be the greatest risk, there are provisions in place and aspects of the company that make Be Our Guest an acceptable risk for the bank. Tudor Team Five Page 9 3. How much total bank financing will the company need at the end of 1998, including both the short-term borrowing under the bank credit line and the outstanding amount of the term loan? For convenience, assume that 1998 sales are $3,000,000. ) In order to estimate how much total bank financing the company will need at the end of 1998, there are two possible ways of forecasting the financial results in terms of balance sheet and income statement. The analysis must take into account the highly unpredictable, seasonal nature of the business. Due to this seasonality, there is high level of uncertainty whichever forecasting method is applied. The first method is to estimate the future income statement based on a trend or horizontal analysis. In this specific case, a compound annual growth rate (CAGR) for each item on the income statement was calculated for the years 1994-1997. With regards to revenue, $3,000,000 for 1998 was accounted for in the calculation. This analysis shows an increase in G due to the unusual increase in G the previous year (1996-1997) affecting the CAGR in 1998. Consequently, the income statement shows a loss in the Net Earnings when applying this method. The second method is to calculate the costs of revenue based on the percentage impact of each item of cost on the total revenue in 1997 (vertical analysis). This analysis, according to us, seems more logical in itself and also leads to a much more positive outlook for 1998 (Net Earnings of $99,408). The result would be sustainable for the business. Two more steps are necessary to forecast the financing needs for the year 1998: Tudor Team Five Page 10 The first step is repayment of the line of credit for the short-term liabilities ($140,000+$3,498). The second step is better management of the seasonality, especially for quarters 1 and 4 which are the most risky quarters for the business. Given that Net Earnings are around $68,096, the line of credit needs to cover the difference ($75,402). Taking into consideration the seasonality, calculated as operating cash flow (refer to case – covenants), there should be no liquidity problems year-end 1998. The cash flow available at the end of 1998 completely covers the losses in Q1 and Q4. The company should keep the line of credit, because debt is incurred upon the credit line only when used. The management, however, should only use the credit line when absolutely necessary. Finally, the company should convert approximately $75,000 of the $140,000 of the line of credit into long-term debt because it will cost less in terms of interest. In addition, the company should increase the long-term debt accordingly (based on the strategy regarding future investments; see answer to question 4). Assuming that the long-term loan is amortised in a constant manner, with approximately 25% payoff per year as â€Å"current instalment of term note†, shown to be the same figure as 1997 ($75,268) which is calculated based on the term note payable less current instalment of $168,043 for 1998. Tudor Team Five Page 11 Proposed here is a two-step approach for financing the investment: The first step is to obtain another long-term loan of $200,000 to change and improve the phone and IT systems. This will lead to a better position to judge the current market needs to revise and produce a strong strategy for the business in terms of efficiency, profitability and long-term outlook. Once this step is accomplished, by 1999, the company should obtain yet another long-term loan. Regarding the possibility of an acquisition, if Be Our Guest makes an acquisition, it can do so through a leveraged-buyout. Therefore, taking on the debt of the company being acquired and funding the other part of the acquisition by selling part of the equity of Be Our Guest (Following the financial restructuring and the increase in efficiency the value of the stock will increase). Asking for a loan for an acquisition today would not be reasonable, nor is it likely that the bank would agree to issue the loan. Currently, the financial ratios of the company do not justify an acquisition. Therefore, starting off with a smaller loan to improve the company running in terms of efficiency and infrastructure will be of greater value. In total the company should take the following long-term loans: $75,000 (line of credit converted into long-term loan) $200,000 (investment) $168,000 (outstanding long-term loan) Total long-term loans in the Balance Sheet by end of 1998: $443,000 As already mentioned before, the line of credit should remain available at the same level as before ($140,000) since it is only paid for if used (expected 1998: fully available). Tudor Team Five Page 12 4. What should Al Lovata and Simone Williamson ask for when talking with the bank? If the company needs additional bank financing, should the increase be provided by an increase in the credit line, or should the size of the term loan be increased to meet the need? Should they ask for some relaxation or change in the loan covenants, particularly the personal guarantees that they have provided at the bank’s request? Al Lovata and Simone Wiliamson should approach Anne Granger in a confident way. Be Our Guest’s balance sheet is fairly strong and fairly liquid, the income statement shows signs of growth and the company is generally doing well. Hence Be Our Guest can take a confident stand to discuss the covenants openly with the bank in order to reach some relaxation on the strict terms. They need to work with the bank to: *lower the rate *review the requirements of personal guarantees for the loan Be our Guest Inc. can consider the possibility of going to another bank if State Street holds their ground on these strict covenants Considering the current and past status of the balance sheets and income statements it is realistic to assume that Be Our Guest, Inc. would not have much difficulty to find a new lender who would agree on different, more relaxed terms of covenants. The company mainly needs the line of credit to finance the seasonal effects of Q1, which could be reduced by a solid growth or expansion plan or merely revising the company’s HR strategy regarding the full-time staff during Q1. Tudor Team Five Page 13 For example, they could reduce the staff’s hours, which would keep them on a full-time employment base but would reduce the G costs for this particular quarter; or they could put the full-time staff on a strategic rotation plan which incorporates the poor business of quarter 1 but leaves options in case of unexpected business in this time period which would also reduce the general G costs and still leave the company in a good position to handle short-term notice business. Regarding the interest for outstanding borrowings on the credit line as well as the interest for the long-term loan, it has been reliably covered and there is no immediate reason to believe that this will change. Any future increase of the long-term loan to drive the growth of the company in terms of business expansion or increasing assets can only be interpreted in a positive way seeing that the revenues have shown to increase with all previous growth-measures. State Street bank should recognise the company’s solid management foundations and the well-going business over the past years and keep their good standing with Be Our Guest, Inc. Lovata and Williamson want to be prepared for future growth. The way to growth has been identified in two possible options, completing an acquisition or expanding their product line. Both of these strategies need to be supported by a consistent long term plan in order to finance their investment needs. Pertaining to this reason, for funding their growth they should ask the bank to extend their long term lend (clearly cheaper than a revolving credit) and moreover ask to re-negotiate the interest rate (too high especially to be a â€Å"prime rate†). Additionally each growth plan in the first few years needs patience and flexibility in terms of managing losses, therefore it would be crucial to review Tudor Team Five Page 14 at least part of the current covenants, like prohibiting two consecutive quarters of net losses and avoiding a net loss for any fiscal year. Taking into account that they are in a good financial position and that the extra money they would need is for future expansions and growth of the company, refinancing its existing debt to obtain better terms, could be quite reasonable. Moreover the company has a fairly strong balance sheet and profitable growth, so it has plenty of bargaining power to negotiate a better deal with the bank. The only negative item is given by the decrease in the last 4 years of the â€Å"net income†, but again it is an issue suggested by a covenant (distribute more than 50% of the earnings to the principals). It is probably the most useless and most dangerous of the list as it is leading the owners to distribute the profit thereby increasing the G costs. Definitely, another crucial aspect is about liquidity pain, especially for an already seasoned business as that of â€Å"Be Our Guest†. In this case they should consider converting some of their revolving credit to term debt (cheaper) making line of credit available, which is currently fully used (coherently to the 1998 expected cash position, answer 3). In this sense the best deal for â€Å"Be Our Guest† might be to invest in a business that generates revenue during current slow seasons and eases the firm's reliance on credit for working capital. Thus even if the tents business could be apparently external to the â€Å"Be Our Guest† business model this business expansion should be taken into consideration. It is not only a new source of profit but will also enable profits for the current business in the slow seasons (tents are mainly set off in the rainy and cold seasons like fall and winter). However, they should be able to distinguish between long term debt and short term line of credit, using the first one for investments and the second one to manage liquidity pain periods. Tudor Team Five Page 15 Leaving aside its convenience in general, the nature of the long-term debt, makes the development of the financial plan easier by providing the exact future payment scheme. On the contrary the line of credit is extremely useful to manage liquidity pain periods but should be paid back quickly or converted in term loan. Finally while refinanced bank loans for now may be adequate to finance the company, it may not be enough for future plans and therefore curb the expansion (current debt/tangible worth ratio is already higher than 1). They should consider a different way of raising funds e. g. from selling equity. Reviewing the personal guarantees is fundamental in order to attract new investor and to manage the company differently. Be Our Guest was created as a business idea and for many years ran more like a family business but now it is a profitable firm that should be managed in terms of efficiency and profitability. This leads to two necessary actions: one by the State Bank, to get rid of the covenant including the personal guarantee of the loan by the management; and second by Be Our Guest, Inc. to review their company status. In terms of the State Bank, it will be essential to convince Anne Granger to remove the covenant regarding the guarantee for the long-term loan. From the point of view of the management of Be our Guest, Inc. they need to review their company status. Only when they successfully separate the business from the family-business approach on which terms Be Our Guest, Inc. as founded, they can attract future investors. Tudor Team Five Page 16 Exhibit 1 – Annual Income Statements (1994-1997) Tudor Team Five Page 17 Exhibit 2 – Annual Balance Sheets (1994-1997) Tudor Team Five Page 18 Exhibit 3 – Quarterly Income Statements 1997 Tudor Team Five Page 19 Exhibit 4 – Quarterly Balance Sheets 1997 Tudor Team Five Page 20 Exhibit 5 – Forecasting Tudor Team Five Page 21 Exhibit 6 – Annual Ratios Tudor Team Five Page 22 Exhibit 7 – Quarterly Ratios Tudor Team Five Page 23