Study On Investment Appraisal And Takeovers Finance Essay - Free Essay Example

Sample details Pages: 14 Words: 4235 Downloads: 3 Date added: 2017/06/26 Category Finance Essay Type Research paper Did you like this example? Investment analysis is very important as it establishes cash and other resources are invested in profitable projects and identify some risk which might arise from investment and measures to eliminate the risks. Getting the right choice of a project to invest is crucial, the management need to have the skills to make the right decision which will maximise stakeholders profit. Most of the companies have lost their reputation and even liquidated due to wrong managerial decisions on what investment to embark to, hence a proper and less risk method of investment analysis is crucial in this role. Don’t waste time! Our writers will create an original "Study On Investment Appraisal And Takeovers Finance Essay" essay for you Create order This is an academic report analysing Jebb PLC, a predator (acquirer) company proposed to takeover a target rival company. In this report, I as a senior Financial Manager in large listed company, I have analysed business investment feasibility, to assess whether it is worthwhile to make a companys investment decision. The analysis has covered reasons behind takeovers, methods and potential effects of takeovers. Also I have looked at the methods of investment appraisal, nature of gearing, risks and cost of capital. 2.0 TAKEOVERS Jebb PLC has decided to embark into takeovers as one of its growth strategies to increase the wealth of shareholders. Takeovers can be simply defined as the purchase of ones company (the target) by another (the acquirer, bidder or predator). In takeovers basically a stronger company takes over a weaker one. The general driving force for Jebb Ltd takeover has been enhancement of shareholders value, bringing cost saving and efficiencies. However the reasons can be analyses in length here under as follows. 2.1 Reasons behind takeover Economies of scale This is simply reductions in the average cost of production, and hence in the unit costs, when output is increased. Oxford Dictionary of Business and Management 4th Ed. When the cost of producing a unit of good falls as its output rate increases, economies of scale exist. Michael Parkin (2003) p. 189 In this context the fixed operating costs are being spread over a larger production volume, equipments are being used efficiently with high volume of production. Economies of scale arise from specialization and division of labor that can be reaped more effectively by firm coordination rather than market coordination. Michael Parkin et al.Economics 5th ed. (2003) p. 189. Following this acquisition Jebb Plc expect cost reduction and hence achieve of economies of scale (scale effect) In the economies of scale to work out Jebb Plc would expect one of the following to happen. Negotiation of lower prices with suppliers for larger orders Combined pro duction processes, or operation on larger but fewer sites to save operating costs Saving in administration, distribution, marketing or research and development costs. . Growth, Empire building and market penetration by accessing to new markets, may be achieved at a much quicker rate by buying existing operator Avoiding higher start up costs Barrier to entry in industry or country may be avoided Access to skilled workers, hence performance maximisation Brands/patents a trademark which increases companys reputation. Complementary resources Here there are mutual benefits, the predator company will provide the necessary ingredients necessary for a small company (target) success. In this situation a small company may have unique product/services but lack the managerial, engineering, knowhow and many more which requires a target company to produce and market its product/service in a profitable way. (Richard A. Brealey, et al pg. 886). Acquire technology and RD expertise 2.2 Potential effects of takeover The process of takeover has both positive and negative effects for both parties, i.e. predators side and to a target company. In this case I will base on the potential effects which might arise in Jebb Plc as acquirer and few for a target company. On positive side the offer given by Jebb Plc to its target company will Increase production level, thus increase of profit margin and maximisation of shareholders wealth and dividends. This growth and shareholders increase in wealth is possible due to synergic effect, by sharing expertise, cost saving production costs per unit and increase in companys reputations, advantage in sharing technology and many more. As we have seen the aim of takeover is to maximise shareholders wealth however this is not always the case. A survey conducted shows the following are some of the factors contributing to M A fail. Target management attitudes and culture differences Lack of post acquisition planning Lack of knowledge of the industr y or target company Poor management practices in target company Little or no experience of acquisitions. (Per Cooper and Lybrand survey in Merger and Acquisition conducted in 1992) The takeover predictions might prove disaster due to hostility takeover process, whereby a predator company is forced to overpay a target company in a bidding process so as to win a bid. A simple recent example here is a takeover between Kraft a US Food Company and Cadbury a British-based confectionery company, which took place in March 2010. Initially Kraft valuing a company at  £9.8bn this were rejected by Cadbury, it went up to  £10.5bn still were rejected and the last deal were made at  £11.5bn. The overpay has increased Kraft debt after had to borrow  £7bn to finance the takeover, this can further increases Interest rate. Available at: https://news.bbc.co.uk/1/hi/8467007.stm accessed on 10 April 2010 Normally this happens when a company is losing sight in hostile takeo ver as a company focusing in winning. Another negative effect is time consuming in the course of takeover and a company can even step aside in concentrating in running its current business, and dealing with takeover process. Redundancies can be one of the disadvantages, as not all staff will be taken to start a new project, especially top posts as there is likelihood of having two experts in one post, one from target and the other from acquirer companies. This can be seen from my example as it has happened in Cadbury were Chairman Roger Carr, Chief Executive Todd Stitzer and Chief Financial Officer had to resign, this were followed by Kraft announcement that it planned to close the Cadbury factory at Keynsham with the loss of 400 jobs. Available at: https://news.bbc.co.uk/1/hi/business/8453433.stm Accessed on 12 April 2010. Also a company should expect increasing running costs at the beginning which will be used in business reengineering process, and staff training es pecially when is to do with deliver in a new technology. Most of the disasters occurring in MA even in many mergers which seem to make economic sense are due to Management failure (as we have seen according to Per Coopers and Lybrand survey 1992) to handle the complex task of integrating two firms with different production processes, accounting methods and corporate cultures. A simple example here is the merger of three Japanese banks to form Mizuho Bank. These tree Largest Japanese banks predicted that the bank would lead the new era through cutting-edge comprehensive financial servicesÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦.Within three months of operation after its merger IT problem occurred, due to different supplier of its computer system, the system couldnt link they then decided to connect the three different systems together using relay computers. This was disaster as some 7,000 of the banks cash machines did not work, 60,000 accounts were debited twice for the same transaction and a lot more problems. The Economies April 27, 2002. p. 72 Big Bold, butÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦. One of the objectives of Mizuho was to exploit economies in its IT Systems. The fiasco illustrate dramatically that it is easier to predict such merger synergies than to realize them. Motivations and involvement of staff in the whole process of takeover is of paramount important so staff can buy the idea, as the value of the most business depends on human assets(managers, skilled workers, scientists, and engineers). If these people are not happy in their new roles in the acquiring firm the best of them will leave. (Richard A. Brealey, et al pg. 884). One Portuguese bank (BCP) learned this lesson the hard way when it brought an investment management firm against the wishes of the firms employees, when the entire workforce immediately quit and set up a rival investment man agement firm with a similar name. Occasionally a takeover does gains but buyers nevertheless lose because it pays too much. This happen especially in unforeseen circumstances when Predator Company underestimate the cost of renovating old plant and equipment, or it may overlook the warranties on a defective product and other costs. At the end of the day all these costs will probably fall on the buyers. I have analysed the reasons behind takeovers, and the methods by which such takeover may take place together with the potential effects of takeover, with some real life example. Jebb Plc should learn a lesson from what has happened to other companies in a takeover exercise, by making sure realistic and better informed decision is made on acquiring and disposing of assets to avoid any disaster. 3.0 METHODS OF INVESTMENT APPRAISAL Investment can be defined as the purchase of creation of assets with the aim of making profit in future. Economists define investment as the addition to the capital stock of the economy factories, machines offices and stock of materials, used to produce other goods and services. Alain Anderton Economics (1999) 2nd ed. Investment appraisals are conducted as an assessment tool to see whether it is worthwhile to embark into a certain investment. Economies Investment decision making is one of the most critical and key area in an organisation. The decision in opting what project a company should go for which will earn the firm more than amount employed over a period of time needs managerial skills to handle. Jebb Plc need to assess outflow and inflow of funds, the lifespan of the investment, the degree of risk attached and how much will it cost a firm to obtain funds, with the maximisation of shareholders wealth as the key business objective. The investment appraisals conducted by Jebb Plc will ensure the cash and other resources are invested in the most profitable and less risk projects. Any arising risk(s) will be considered and measures will be taken to eliminate the risk and/or reduce the impact. In order to achieve a profitable and economic sound project various methods on investment appraisal are used. These methods are categorised into two, the traditional methods includes payback period (PP) and Average Rate of Return (ARR) and the second method is discounted cash flow (DCF), this one includes the Internal rate of return(IRR) and Net Present Value (NPV) TRADITIONAL METHODS Payback Period (PP) Payback period measures the length of time taken for a project to pay back /repay its initial capital cost. A company uses the method in deciding between two or more competing projects by taking the one with shortest payback period. The method is used as an initial screening method. Mathematically a PP can be calculated as: Payback Period = Initial payment / Annual cash flow The method is the most widely used worldwide than any other method according to number of literatures. The research has proved most of UK firms prefer the method. (See fig: 1, a comparative study of appraisal techniques used by 100 large UK businesses Upchurch, 1988 p.p.337). The reasons behind this are as follows: Simple method available to compute It acts as proxy for risk Provides a crude measure for liquidity-can be useful in a business where liquidity is a problem. The problem with most of investment appraisal methods is risk in capital budgeting, as most of the data used in dec ision making are based on estimation. Most of the data are derived for the later year of a project further from todays value of cash flow this make it less reliable. In a payback period in this respect it tells a manager how soon the project cash inflow covers its cash outflow. The quickest the money can be recovered back the better the project to embark to and most of UK managers are rewarded after a quick return. In this case Jebb Plc need to be risk averse and will decide on the project which have lower value for PP. Despite of favourability to PP there are strong arguments against it as follows: Cash flows are regarded as pre-payback or post payback, but the latter tend to be ignored. It ignores the time value for money. This is sufficiently serious for it to be rejected as an indicator of whether a project increases the value of a company, it takes no account of the effect on business profitability, its sole concern is cash flow. Ignores the risk of future cas h flow Takes no account of what is happening with interest rate Accounting Rate of Return- ARR Accounting Rate of return also called ROCE and ROI expresses the profit arising from a project as a percentage of the initial cost. The method look at annual accounting profit rather than cash flows. The calculation has shown differently in different textbook, however one of the most common approach is this one: ARR = (Average annual revenue / Initial capital costs) * 100 The average investment is given by: (Cost + disposal value) / 2 The rate of ARR obtained using the method is compared with a pre-determined hurdle rate and the project with greater return would be acceptable. Example if the ARR method gave ARR of 17% and the firms hurdle rate was 13% then a project does worth. The method can also be used to compare the worth of more than one project, by opting the one with the highest rate of return. Advantages of AAR As we have seen with pp, the chief advantage of ARR is simplicity. The percentage value given make it easier for business planner to understand, and make it easier for manager to understand It shows investment profitability The value in % can easily be compared with hurdle rate r with the companys existing ROCE and to compare mutually exclusive project. It consider all cash flows over the life of a project (unlike PP) Disadvantages of ARR Despite its usefulness ARR method has got a number of criticisms as follows: Uses accounting profit (and not cash) which can be manipulated (e.g. by changing assumptions about scrap value and hence annual depreciation charges. Uses average profits therefore does not take into account the timing of profits (earlier profits may be preferred to later ones) Ignore qualitative aspects of decision. There is no definitive signal given by the ARR for managerial decision whether to invest or not. The lack of guide for managers makes it subjective rather than objective. Doesnt consider how long recover in initial investment and cost of finance may take. DISCOUNTED CASH FLOW (DCF) We have seen Traditional methods of investment appraisal which are PP and ARR. Now I will discuss DCF, the differences between this with the earlier methods are its consideration of the time value. These two techniques take account of all the costs and benefits (in cash terms) over the life of project and take into account the timing of the cash flows and benefits over the project life. As with the payback method, DCF analysis is based on cash flows not the accounting profit or losses. The timing of cash flows is taking into account by discounting them to a present value (PV) Internal Rate of Return (IRR) IRR is the annual percentage return achieved by a project, at which the sum of the discounted cash inflows over the life of the project is equal to the sum of the capital employed. OR It can be defined as the rate of interest applying to a project at which its net present value is precisely zero. The calculation shows us the break-even financing cost. The method in some senses seems to be simplest of the technique to understand. However it is the most difficult to cope with mathematically. A number of text and surveys has shown that, practically IRR method is more popular than the NPV method. This is said may be IRR is straightforward. Decision to accept a project is made when IRR is greater than a companys cost of capital or target rate of return. Disadvantages of IRR Notwithstanding its popularity in the business world, IRR bring about many problems than a practitioner may think. IRR gives unrealistic rates of return, this is the main problem of IRR. So unless the calculated IRR is a reasonable rate of reinvestment of future cash flows, it should not be used as a standard for comparison to accept or reject a project. Moreover IRR method may give different rates of return. Also IRR cannot be used to rate mutually exclusive projects. Net Present Value (NPV) NPV is a the Investment Appraisal tool/technique, where cash inflows expected in future years are discounted back at the appropriate discount rate to their present value. NPV has also been defines as The difference between the present value of the cash inflows and the present value of the cash outflows associated with an investment project (McGraw-Hill Ryerson 2001). A positive NPV provides cash flows from the Capital investment which yields a return in excess of the cost of finance/capital. Jebb Plc will treat +ve NPV as an attractive project which will help in decision making. If the NPV is -ve, cash inflows from the capital investment will yield a return below the cost of finance/capital from a finance perspective, the project is unattractive. If the PVC is exactly zero, cash flows from the capital investment will yield a return exactly equal to the cost of finance/capital, the project is therefore about financially attractive. Jebb Plc will use NPV as one of i nvestment appraisal tools to measure how much value is created or added today by undertaking an investment. In this technique Jebb Plc will accept to embark into a project if the net present value is positive and likewise rejected if it is negative. For mutually exclusive projects Jebb Plc will accept the one with the highest NPV value to maximise shareholders wealth. Advantage of NPV The following are some of benefits of using NPV which will be considered by Jebb Plc as an aid in decision making. NPV recognises the time value of money reflected in the discount. This is a key concept in corporate finance. It must be recognised that  £20,000 received today is worth more that  £20,000 receivable at some point in time in the future because  £20,000 received today could earn in the intervening period. This is known as the time value of money concept. The technique takes into account the risks involved in an investment through expected cash flows and/or discount rate. NPV offers a degree of flexibility and depth, since the equation can be adjusted for inflation and can be used with other financial tools such as Scenario analysis and the Monte Carlo simulation. Take account of both amount and timing of cash flows over the whole life of the project Has a direct relationship to shareholder wealth (positive NPVs increase it, negative ones decrease it). Disadvantages of using NPV Despite the above advantages, NPV have a number of problems of which Jebbs Plc needs to be aware. Here are some of the problems:- NPV looks at cash flows and not at Profit and Losses. NPV is highly sensitive to discount percentage, this makes it difficult to identify an appropriate discount rate. Choice of discount rate is one of the critical factors in NPV calculation the other factor is Quality of forecast cash flows. Using a standard discount rate where all projects are discounted using a standard rate, despite their different risks, may undervalue or overvalue the project, decreasing the overall accuracy. NPV does not compare absolute levels of investment. All in all DCF method is preferable to either PP or ARR because DCF takes account of the time value of money, and thus will maximise shareholders wealth. And NPV is the most acceptable technique compared to others. 4. GEARING Jebbs Plc investment will only be worthwhile if the expected return on capital employed will be greater than the cost of capital. The cost of capital is the return to the providers of finance to a business. Cost of capital can also defined as the cost of capital is the rate of return that a company has to offer finance providers to induce them to buy and hold a financial security. This rate is determined by the returns offered on alternative securities with the same risk Arnold, G (2008) Corporate Financial Management, Harlow: FT Prentice Hall Jebb Plc needs to make the right decision when taking a loan to finance its project by reducing a cost of capital and hence reducing gearing ratio. The gearing ratio this is the percentage of capital financed by debt and longtime finance. The higher the gearing, the higher the dependence on borrowings and long-term financing. And the lower the gearing ration the higher the level of dependence on equity finance. Before we see the p otential effects of higher gearing on perceived risk and cost of capital lets see 2 schools of thought in capital structure Theory of Capital Structure-2 School of thought There are two schools of thought: Traditional-Traditionalist believes that capital structure is very important That business should seek to establish the optimal mix of debt and equity (optimal capital structure), where the cost of capital is minimized and the value of the business is maximized. Modernists (Modigliani and Miller-MM) theorem believe capital structure it is irrelevant. Capital structure-Traditionalist view It regards the cost of capital to be cheaper than equity, following a lower risk for the borrower and tax advantages for the company. This implies that the overall cost of capital can be reduced by increasing the level of borrowing (of gearing). However as the level of borrowing increases the return required by ordinary shareholders also increases to compensate for the higher level of financial risk they have to bear. At low level of borrowing the benefits of raising further debt (cheap source of finance) should outweigh the costs of doing so (increased return to shareholders and existing lenders) For highly geared companies, the costs of further increases in debt will outweigh the benefits. Capital Structure Modigliani and Miller MM argue that the benefits from raising debt finance are exactly offset by the increased return required by shareholders over the whole range of borrowing. Therefore the overall cost of capital remains constant at any level of gearing and there is no optimal capital structure. Capital structure is irrelevant and changes in it do not affect the value of a firm. Modigliani and Miller (1958). The following are assumptions lied behind MM theorem. There are no taxation There are no costs involved in changing capital structure such as issue and dealing costs. There is one rate of interest that applies to both borrowers and lenders. In addition MM assumed that the capital markets are efficient and perfect. The first assumption is the most critical and led MM to revise th eir theory after criticism in 1963 to incorporate corporation tax. To conclude the link between cost of capital and gearing level is not direct and proportional. A company should look into all the associated factors like tax implications, risk, bankruptcy, agency costs, cost of serving the debt, in deciding its capital structure. In the real World at low level of borrowing the cost of capital will decline and gearing increases. Eventually at higher levels of gearing, the cost of both debt and equity will shoot up due to bankruptcy and agency costs, causing the overall cost of capital to rise also. Atrill, P (2009) 5TH ed. Financial Management for decision Makers, Harlow: FT Prentice Hall Potential effects of higher gearing The higher the ratio of debt to equity the riskier the company is from the ordinary shareholders point of view. Some investors might decide to withdraw their investment if the company has high gearing as it rating will go down. Agency costs involved in monitoring and controlling actions of manager to avoid company experiencing financial difficulties. Tax exhaustion: The task benefit relief will be lost. If the company has very high gearing due to lack of taxable income to offset against the tax relief and also affecting the operating income. CONCLUSION Capital budgeting is a crucial managerial tool. Jebb Plc is required to choose investment with attractive and sound cash flows and rates of return. Jebb Plc will use capital budget to evaluate, compare and select attractive project. The investment Appraisal techniques will also help Jebb Plc management to know whether the project under review is attractive one risky one or a safe one. In this case NPV is recommended however should be seen as a starting point in any decision making rather than the decision by itself. In choosing these techniques Jebb has to consider both financial and non financial factors. Jebb will also make the right informed decision when taking a loan to finance its project by reducing a cost of capital and hence reducing gearing ratio. This will reduce risks as borrowed fund is attached with interest which has to be paid irrespective of business performance. REFERENCES BBC News Online Richard Pettinger: Investment appraisal- managerial approach. Neale, B and T McElroy (2004) Business Finance a Value-Based Approach Arnold, G (2008) Corporate Financial Management, Harlow: FT Prentice Hall The Journal of Finance Vol. XLVI No. 1 March 1991 Michael Parkin et al.Economics 5th ed. (2003) Alain Anderton Economics (1999) 2nd ed

Autism Spectrum Disorder And Autism - 1827 Words

Estimates show one out of six children aged three-seventeen in the United States had one or more developmental disorders in 2006-2008. This can affect the person mentally, physically, emotionally, or a combination of the three. These range from something as simple as a speech delay to something as complex as cerebral palsy. One of these developmental disorders is autism. Autism can cause social, communication, and behavioral challenges. One in 68 children are affected by autism. Autism Spectrum Disorder (ASD) is 4.5 times more common in boys. One in forty-two boys will be affected; whereas, one in 189 girls will be on the spectrum according to the Centers for Disease Control and Prevention. Though autism is quite common and the occurrences†¦show more content†¦This issue is sometimes referred to as the â€Å"broader† ASD phenotype (Regehr and Feldman, 237-238). One of the most commonly debated speculated causes for autism is that it is a reaction from vaccines. Data i ndicates that the amount of shots given at such an early age could compromise the child’s immune system and possibly contribute to autism. Thimerosal, which is a vaccine preservative, is 49% ethyl mercury. Every major symptom of autism is documented in mercury poison cases. The biological abnormalities typically associated with autism also are very similar to mercury poison side effects (Ratajczak,70). Autism cannot be diagnosed with genetic testing, but genetic testing can let one know if their child is more susceptible to autism. When major segments of DNA are deleted, the gene is considered faulty(Waters,2). When coupled with other factors the autism is more commonly presented. Microarray screening only identified 8-25% of people on the spectrums genetic abnormality. Seventy-five percent of cases are undetected by screening; therefore, psychologists remain the main source of diagnosis (Waters,2) The symptoms associated with autism are just as broad as the speculations of the cause. This can partly be accredited to the fact that autism is a broad spectrum not just one certain level of delay. There is low-functioning autism, high- functioning autism, and several steps in between. Autism is like a line graph and depending on one’s symptoms andShow MoreRelatedAutism Spectrum Disorder And Autism Essay1393 Words   |  6 PagesAutism is a neurological disorder with many forms and severities, better known as autism spectrum disorder, that begins early in childhood and lasts throughout the individual’s life. Autism spectrum disorder is defined as developmental disabilities that can cause significant social, communication, and behavioral challenges (CDC). Previously, autism was recognized in distinct groups and types. Now, autism is referred to as a spectrum because there is an overlap among all the different forms of autismRead MoreAutism Spectrum Disorder ( Autism )9 00 Words   |  4 Pages Autism Disorder Mohamed Ayoub Community College of Aurora Autism Spectrum Disorder We are living in a time where a remarkable and advanced medical treatments exist. However, scientists and medical professionals are constantly faced with diseases and disorders that contemporary humanity needs a cure and treatment. Amongst the disorders that affecting our young people today is the autism spectrum disorder. It is a â€Å"complex and life long behavioral disorder marked by impairment in socialRead MoreAutism Spectrum Disorder ( Autism ) Essay1396 Words   |  6 PagesThe disorders listed under the umbrella of Autism Spectrum Disorder, were once listed as autism and subtypes of autism. This was changed in 2013 when The Diagnostic and Statistical Manual of Mental Disorders, Fifth Edition (DSM-5) was published, and they were listed under the umbrella of Autism Spectrum Disorder. There are five disorders listed under the umbrella of Autism Spectrum Disorder: Autistic Disorder, Asperger’s Syndrome, Childhood Disintegrative Disorder, Rett Syndrome and Pervasive Dev elopmentalRead MoreAutism Spectrum Disorder And Autism2594 Words   |  11 PagesAutism Spectrum Disorder is defined as a neurodevelopmental condition that is classified by a triad of impairments. These impairments are in communication, socialization, and repetitive patterns of behavior (Wolf, 2004). Autism affects about 1% of the current population (Shishido, Branko, Norio, 2013). This disorder seems like a common diagnosis in the current day in age but the disorder was only discovered around sixty years ago. The two founding researchers that discovered the disorder are KannerRead MoreAutism Spectrum Disorder ( Autism ) Essay1739 Words   |  7 Pagesconventions (Lai, 2014). These two observations would be the beginning of a disorder known as the Autism Spectrum Disorder. This developmental disorder, characterized by a range of deficits in different areas, is increasingly prevalent in society and in the media. While the exact numbers vary from country to country, according to La i (2014), 1% of the general population is diagnosed with an Autism Spectrum Disorder. The range of this disorder has a detrimental effect on society, specifically the educationalRead MoreAutism Spectrum Disorder ( Autism ) Essay1858 Words   |  8 Pages Autism Spectrum Disorder affects various aspects of an autistic child’s life. Many children are diagnosed with autism spectrum disorder every year, while others go undiagnosed for an extended time, or even for their whole life. A child exhibiting delays in language benchmarks or showing little interest in the surroundings should be examined for possible ASD. Language is often impaired and although the level of impairment can range from severe too unnoticeable in each child, a child is likely toRead MoreAutism Spectrum Disorder And Autism1590 Words   |  7 PagesAutism Spectrum Disorder, more commonly known as Autism, is a prevalent developmental disorder that has grown to a major extent recently in the United States, UK, Japan and Europe as well (Landrigan 219). According to an article written in 2014 by Chris Bateman, 1 in every 50 children aged 6-17 in the United States are diagnosed with autism, compared to decades ago where it wasn’t nearly anywhere close to that (Bateman 1). As autism continues to grow, it is important that we learn about the differentRead MoreThe Autism Spectrum Disorder ( Autism )1025 Words   |  5 PagesI. Introduction: Autism Spectrum Disorder is a range of complex neurodevelopment disorders, characterized by social impairments, communication difficulties, and restricted, repetitive, and stereotyped patterns of behavior. There is more classification of Autism that is based on the severity of symptom. Childhood disintegrative disorder, also known as Heller s syndrome is a rare condition characterized by a late onset of developmental delays in language, social function, and motor skills. AspergerRead MoreAutism Spectrum Disorder And Autism1389 Words   |  6 Pages Autism Spectrum Disorder Autism is a form of â€Å"ASD,† Autism Spectrum disorder and is experienced all around the world. Autism is a developmental disorder that consists of many neurodevelopmental disorders of the brain. People with autistic disorder think and act in different ways than most people. There are many different forms of autism spectrum disorder that include the pervasive development disorder, Asperger syndrome, and autistic disorder. These disorders are called spectrum disorders becauseRead MoreAutism Spectrum Disorder And Autism1492 Words   |  6 Pageslife there are several different disorders that have been well known from many years ago. There is one disorder that was diagnosed in the early 1800’s but it wasn’t until a few years ago that it gained lots of attention. What used to be known as Autism was later renamed in the DSM to Autism Spectrum Disorder meaning, a neurodevelopmental disorder rather than a pervasive developmental disorder (Gargiulo, 2015). Autism s pectrum disorder is a developmental disorder characterized by abnormal or impaired

Creating Meaning and Identity through Consumption Essay

Under the current capitalism society and material culture, people tend to form their identities through consumption, this means more than to consume products which are needed to survive, consumption can also link to self-identity formation and expression. People are imperceptibly influenced by the mass media that self-identity can be shaped and formed through consuming specific products. Therefore it can be said, fashion is an important element of identity formation. Young people are commonly feared of being seen as outdated and seek for acceptance from the peers and the society. According to Erikson’s theory of personal social and personal development adolescences and young adults see peers as a critical influence, acceptance of peers†¦show more content†¦It can also be said, a very large part our identities-our sense of who and what we are-take shape in terms of how we balance and attempt to resolve the ambivalences to which our natures, our times, and our culture make us heir. (Davis, 1992). As Cameron,D (2000), did a research about the youth fashion in Japan, she interviewed few young people who are about 18 to 20 years old about the street fashion. Some young people even claimed, â€Å"it is not worth looking at someone who’s not fashionable. Young people are easily influenced by peers and the media. Acceptance form peers or society and maintain self-esteem is critical for youths’ adolescent, therefore they would usually follow the trends of fashion and build up their identities with objects in order to avoid being teased or left out. In the process of identity-formation through fashion, media do play an important role. People are imperceptibly influenced by the mass media that self-identity can be shaped and formed through consuming specific products. The advertisements on television, newspaper, magazines and radio overwhelm young people with concepts that â€Å" you look good with trendy products†. Young are more easily fall into the traps ofShow MoreRelatedConsumption and Identity1704 Words   |  7 PagesConsumption involves individuals purchasing goods to achieve a meaning or value to the consumer, not simply for the material benefit it offers. Instead, ‘commodities are not just objects of economic exchange, they are goods to think with, goods to speak with’ (Fiske, 1989) (Cited in Bocock, 1993). This suggests that individuals use goods as symbolic props, as a way of creating and moulding their own identities. It is suggested that the individual has the ability to create their own narrat ive andRead MoreConsumption Is Driven By Individualisation1441 Words   |  6 PagesConsumption can be basically described as the process of purchasing and using an object or a service, however, this definition can be extrapolated to include the maintenance, repairing and disposal of said objects and services (Campbell, 1995). Consumption can also be viewed as the practise of employing goods and services as symbols and ‘systematically manipulating’ them to exhibit certain desirable abstract concepts such as wealth, status and capital (Baudrillard and Levin, 1981). Moreover, ConsumptionRead MoreCustomer-Based Brand Equity Model (Cbbe)1111 Words   |  5 Pagesstrong brand involves four steps: establish brand identity, create brand meaning, positive, eliciting accessible brand responses, and building brand relationship. In order to achieve these four steps, there are six brand building blocks which involves brand salience, brand performance, brand imagery, brand judgmen ts, brand feelings and brand resonance Brand Identity Brand Salience means awareness and it’s related to achieve right brand identity. Brand awareness refers to customers’ ability toRead MoreEssay about Consumption and Everyday Life1369 Words   |  6 PagesConsumption and Everyday Life This interdisciplinary volume portrays the variety and complexity of consuming practices that are embedded in the context of everyday life. The contributors cover a broad range of cultural consuming patterns drawing on material as well as symbolic resources with case studies from different parts of the world. Studied practices include shopping, personal narratives, music and performance, the imagination of identities and places, media and audiences as well asRead MoreAmerica And The American Dream983 Words   |  4 PagesLand of Opportunity, Home of the Brave, and Land of the Free often come to mind when envisioning the United States for most individuals around the world. Through the media, America and the American Dream is depicted as the salvation for poverty, sorrow, and hardship. The Founding Fathers invented the American Dream, offering life, liberty, and the pursuit of happiness. Unfortunately, an abundance of immigrants were falling short of possessing the American Dream and slowly began to realize that theseRead MoreThe Nature Of Shopping Is A Trivial Activity Practiced By Self Centered Individuals1736 Words   |  7 Pagespresumption of shopping no longer included the concepts of utility and need and rather transformed consumption into a cultural event predominated by the emphasis on providing a pleasurable experience by regarding shopping as a leisure activity, thereby demarcating the shoppers among the ones who found pleasure in it and those who did not. It became a significant marker for understanding identities through a series of socially constructed and subjective experiences, while simultaneously peeling the complexRead MoreStarbucks Vs. Tim Hortons Essay1210 Words   |  5 Pagestheir way into this fabric through their advertising practices and promotional culture. This paper begins with a brief historical outline of consumer culture and it’s ties to neoliberalism, and then moves to an in depth exploration of the way in which companie s work to create and maintain a positive brand image among consumers. Through a focus on branding, versus product-specific advertising, companies work to create attachments and emotional bonds, effectively creating a loyal and invested customerRead MoreFive Differents Types of Consumption1020 Words   |  5 PagesConsumption is a complex social phenomenon in which people consume goods or services for reasons beyond their basic use-value (Firat, Kutucuoglue, Arikan Saltik Tuncel, 2003). Sometime after the industrial revolution, consumer societies emerged around the world. A consumer society is one in which the entire society is organized around the consumption and display of commodities through which individuals gain prestige, identity, and standing. Media as well, has for long been contributing in increasingRead MoreThe Effects Of Music On Our Lives1576 Words   |  7 Pagesglobally circulated creating a meaning understood locally. For most communities, accepting the cultural tas te forms a sense of belonging and identity. In the past, consuming music was a collective experience. Historically, good taste is a treasured quality to attain rather than solely a form of well-conducted consumerist knowledge. Obtaining the ‘good’ taste and judging the ‘bad’ taste is the process in which idealized versions of the person are imagined through formed identities. Farnsworth arguesRead MoreEssay Fight Club1439 Words   |  6 Pagesto cope with an emasculated, self-centered, materialistic society by creating an alter ego. Throughout the text, the theme of the emasculated modern man is presented both in the life of the narrator, and in the lives of the male characters he surrounds himself with. Through notions of absent fathers, consumerism and an innocuous/aimless existence, Palahniuk presents how men in modern society have lost their masculine identity and the extreme actions they go to in order to obtain it again. Belittled

The Invention of an Investment Incentive for Pharmaceutical Innovation

Question: Discuss about The Invention of an Investment Incentive for Pharmaceutical Innovation? Answer: Introduction Risks are defined as potential threats to an organization related to any product or service which can affect the performance of the company. Risks are classified into various categories which involve risk from these potential areas like strategy, finance, operation, natural or environmental risks. These factors can severely affect the daily business process of the organization which in turn would stop the business flow and even can hamper to a certain extent so as to totally close the company. In organizations the evaluation of risks is a must before any invention or innovation of any new product or service. Abstract To make the accompanying thing in an association's item offering a layout gathering encounters thing change system steps. Starting with a thing thought, the gathering goes through a couple stages to make each one of the unpretentious components and documents anticipated that would get the thing created. A NEW PRODUCT DEVELOPEMNT (NPD) procedure encounters the same steps, however as this thing has not been made by the gathering sooner or later as of late, new threats and dangers are introduced and frequently additional information is accounted for and conferred to delivering (Basheer, 2012). The new development of a certain product or services involves several steps and factors that should be taken into consideration so as to achieve success in the development process. Conceptualization - This stride characterizes crucial bearing and points of confinement for the entire progression process by enlightening the sort of thing, the issue the thing settles and the fiscal and specific goals to be proficient by the thing. Idealization - In the midst of the ideation step the gathering conceptualizes to discover a rate of the various ways a thing can deal with the issue and meet internal goals. Considerations are surveyed and the most reassuring are decided for further examination (Bowman and Taengnoi, 2012). Proposition - It's in this walk that the execution of the "best" way to deal with make and manufacture the thing happens. Building purposes of hobby are created to substance out the strange state thoughts from the ideation stage. Testing This stride checks if the thing meets the first targets or if additional refinement is needed. Liberation - At the point when testing has asserted that the thing deals with the issue and will meet the association destinations; it is readied to start the New Product Introduction (NPI) handle and get the thing amassed! This daigram clearly depicts the steps involved in the process for the development of a new product in an organization. Thus, it can be said that successful products are not static nor are they made overnight. Remembering these parts will help make fruitful and valuable items that pleasure clients (BROPHEY, BAREGHEH and HEMSWORTH, 2013). Risk Involvement For the success of a new product developed depends upon certain factors that should be considered during the development process. Each development process of a product undertaking is remarkable in its own specific manner, and obliges an alternate arranging procedure with steady changes. By not understanding such mind boggling contrasts, item advancement administrators are presenting their organizations to different dangers connected with product development. Thus in this context, the risks that are involved in the process of development of a new product is can be discussed by taking the following points into consideration: Management This deals with the incompetence of the management of an organization due to lack in the required qualifications or skills. It involves the improper management in the organization that deals with the introduction of less skilled personnels that may hamper the process of development (Dibb, 2013). Marketing This involves several factors like inadequate, delayed or unavailability of information on prices, advertising of the products and support of the sales team in the organization. It depicts that during development risks can also occur from the marketing strategies being implemented in the organization and a lack of support or communication based on the sales of the product. Information Technology The introduction of this technology in development process has grown in the past several years as it provides a better platform for successful product development. But in spite of this fact there also exists several risks that may hamper the process of development that is interruption created by internal (employees) factors as well as external (viruses) factors. External factors This involves several factors that are out of reach to control by the organization such as disasters that can occur in nature. It can be said that these factors are out of direct control of the organization which may occur anytime irrespective of the process or measures being implemented in the new product development process. So, it is extremely important to evaluate the risk factors and develop risk management strategies before starting the development of a new product in an organization. Invention The term invention is defined as the creation of something (product or service) that did not exist before in the market. This also deals with evaluation of solutions to problems that already exist in the product or service of an organization or company. The invention process results due to creativity of humans as well as their curiosity for new product or services that can help them to achieve a better way of living in the society. The success of inventions lies within the demands of the customers or clients for a particular product or service (Encyclopedia of innovation and entrepreneurship, 2014). There exist several forms of invention in terms of industries, business and markets. The incremental development of technology provides support with quality improvement, better performance, and height in the productivity, satisfaction of customers, also reduction in the costs for development. The invention of technology driven manufacturing plant provides a strong framework for development of a new product in an organization. This helps to reduce the manpower involved during the development process and thus creating a robust product that can satisfy the needs of the customers and easily adapt the product or service. The information technology has been proven as the best invention in the field of product development of an organization as it provides quantified, qualitative and inventory solutions during the entire development process of a product or service in the industry. So, from this it can be concluded that inventions in the industry generate great benefits if and when the new product or service travels in the market. New invention gives rise to new product development process thus supporting to maintain the competitive standards of an industry (Euchner, 2013). Innovation Innovation is vital to the arrangement banter on the best way to keep up solid financial development in a time that is progressively being characterized by the globalization of rivalry, and in addition major financial and demographic difficulties. Then again, endeavors to deliberately draw on the ideas, speculations and exact proof gathered more than three many years of development studies to educate this arrangement verbal confrontation have been restricted (Sinclair and Baglioni, 2014). Mechanical and business development is vital to the arrangement wrangle on the eventual fate of Europe in a time of globalization and financial and demographic requirements. Little endeavor has been made in the business and strategy groups to efficiently draw on the ideas, hypotheses and observational proof that have been produced in the course of recent many years of advancement studies keeping in mind the end goal to enhance the general atmosphere for advancement (Godin, 2012). The significance of a comprehension of development as a procedure is that it shapes the path in which we attempt and oversee it. This comprehension has changed significantly after some time. Early models (both express and, all the more vitally, the certain mental models whereby individuals dealt with the procedure) saw development as a direct arrangement of practical exercises. Most development is untidy, including false begins, reusing between stages, deadlocks, and bounced out of arrangement. In a vital project of case study based exploration taking a gander at generally diverse advancement sorts, it investigated the confinements of straightforward models of the procedure (Godin, 2014). They attracted thoughtfulness regarding the complex courses in which advancements really develop after some time, what's more, determined some vital modifiers to the fundamental model: Shocks can trigger innovations Proliferation of ideas Arising of setbacks Remodeling of the structure for innovation Management at the top level Shifting over period of time Involvement of learning process In this regard innovation can be said as the concept that can help to achieve growth in the industry by the process of new product development. Implementation of Innovation Advancement is the exhibit of displaying something new or doing something in a substitute way. Headway in business contrasts from creativity in that the later is generally joined with the period of new contemplations. Alternately, improvement suggests taking those new contemplations and truly executing them in the business focus. Along these lines, creativity is fundamentally one segment of the improvement process through which new musings lead to new things, procedure, or organizations (Simsek, 2013). The stream of business segments, development, and competition have brought changes to in every way that really matters every business area portion and have made new thing headway a champion amongst the most exceptional business works out. The colossal changes that consistently influence exchange have obliged associations to progress with extending rate, efficiency, and quality. Subsequently, this has made new thing headway a champion amongst the most personality boggling and troublesome business limits. Then again, firms must create remembering the finished objective to survive. The power of progression is revealed in different studies, which show that associations driving their business ventures attribute around a substantial bit of their wages to things made in the most recent five years. By relationship, associations at the base of their business endeavors finish pretty much one-tenth of their arrangements from new things (Gokhberg and Meissner, 2013). The implementation of innovations depends upon various innovative strategies that can be discussed as below: Internal Innovation Inward systems typically try to create and support the properties of inventive organizations, for example, organizing and empowering development. Particular ways to deal with empowering development vary by organization and industry (Gordon, 2014). Market Based Indeed, even organizations with the most inventive authoritative situations will mull in the event that they neglect to adequately advertise their advancements. Case in point, only in light of the fact that a firm enhances its item doesn't imply that it ought to essentially take the change to the business. From a key stance, the organization could lose cash in the event that it has put a great deal of assets in promoting the first item on the grounds that the enhanced variant may strip down deals. Different Models of Innovation Innovation implies presentation of something new. In this way Innovation can be characterized as the presentation of another item, administration or procedure into the commercial center (Hynynen, 2013). The National Innovation Initiative (NII) of USA characterizes - development like the crossing point of creation and understanding, prompting the production of social and financial quality. The process of innovation is referred to as the preface of new product or service into a marketplace which results into commercialization. This process is usually concerned with economic values and changes that can bring evolution in the organization (Johnsson, 2013). The various models for innovation process can be described as below: Linear Model In this model, thing or organization thought is cemented at in front of timetable stage keeping in mind the end goal of risk minimization. According this model, improvement method endeavors incorporates plan with back to back stages/steps arranged along such way that previous stage should be cleared before advancing to the next step. In this way assignment must pass through a passage by means of the assent of a watchman before moving to next/succeeding stage. Criteria for experiencing each portal and the person at each entryway (watchman) are portrayed already. The watchman examines whether communicated aims of the previous stage have been met properly or not and whether fancied progression occurred at the first stage. The main purpose of this model is for incremental Innovation. Thus, it is straight in here as improvement method is solidly prohibited and facilitated with the most punctual starting stage itself with a goal of set targets/destinations and inputs are controlled to fini sh fancied targets/goals (Klang and Hacklin, 2013). Technology Push Model This is the original direct model. In this innovation model it is viewed as main aspect of development. At whatever point another/enhanced innovation develops, it prompts advancements of new items, administrations or procedures. Innovation Push development includes arrangement of successive steps i.e. Basic examination (Essential science), Design, Engineering, Application Research, Manufacturing as well as Sales Marketing. Client/Consumer is dealt with as aloof beneficiary of yield i.e. it is assumed that if another/enhanced item or administration, in view of new innovation, is created without getting input/counseling purchaser/client and it is offered to customer/client, he will acknowledge the new item or administration (Lineaweaver, 2014). In this way the model overlooks the buyer needs and business sector necessities. Market Pull model This can be defined as the second time direct model as it joins and directions customer needs in the advancement process. In this, purchaser requests/showcase necessities are seen as the main aspect of advancement technique. Business area Pull progression incorporates game plan of back to back steps i.e.: Assessing client needs/showcase essentials, Concept/thought period, Refining thought to at any rate address customer issues, Design, Engineering, Manufacturing, Test advancing Sales. A couple of representations are: Phone innovations, Market pull in UPS innovation, and Invertors (Mast, 2013). Flexible Innovation Model At to begin with, Innovation was thought to be straight/facilitated/arranged activity. In no time improvement is seen similarly as non-straight and contemplations/upgrades can ascend out of any basis and at any point of progression strategy. This blend of straight non linear procedures contain incited ascent of the models of Third Generations which reflect versatile nature of genuine advancement process. Thusly fitting collaboration blend between RD, Manufacturing, and Marketing Other Corporate Functions helps in true blue organization of Innovation method. Role of Systematic Risk Management The process for development of a new product involves various types of risks so in the following sections the role of systematic risk management can be explained by the different types of risks: Technological Risks These are each one of those dangers that prompt nonà ¢Ã¢â€š ¬Ã‚ completion, under execution then again bogus execution of the acquired great and administration. Because of its more imaginative nature, the danger lies in the specialized qualities of the administration then again item or in its generation, and in this manner begins in the suppliers' side. This danger shows up of specific significance in obtainment of items in the liquid phase (Pappa, 2014). Organizational and Societal Risks Hierarchical dangers are each one of those dangers of the acquisition fizzling or underà ¢Ã¢â€š ¬Ã‚ delivering for reasons arranged inside of the association that gets. Societal dangers are those identified with an absence of acknowledgment what's more, uptake by the clients of the new or changed administration conveyed inside of society (Sandhu, 2013). Market Risks According to Siddiqui et al. (2014), these risks are to be found on the interest and supply side. The previous happen at the point when advancements out in the open acquisition are likewise proposed to overflow to private markets and those private markets are not vast or sufficiently responsive or don't developed rapidly enough to legitimize limit speculation. The recent are those that conceivably upset or postponement operations, for example, political shakiness and unstable work market; potential dangers that a contender will assume control over a supplier and conceivably bolt out supplies, dangers identified with postponements and lacking quality. Financial Risks The monetary dangers out in the open acquisition are identified with instability in meeting target costs and the capacity to secure the trusts required. Conclusion In this paper we have looked into different models of the development procedure, and a portion of the exact exploration that has added to them. Our focal contention has been that the (regular) fractional comprehension of this procedure can result in a slender spotlight on radical mechanical inputs, as opposed to a more educated verbal confrontation that considers a much more extensive scope of components which impact development. References List Basheer, S. (2012). The Invention of an Investment Incentive for Pharmaceutical Innovation.The Journal of World Intellectual Property, 15(5-6), pp.305-364. Bowman, K. and Taengnoi, S. (2012). Invention, Innovation, and Wage Inequality in Developed Countries.Eastern Economic Journal, 39(4), pp.511-529. BROPHEY, G., BAREGHEH, A. and HEMSWORTH, D. (2013). INNOVATION PROCESS, DECISION-MAKING, PERCEIVED RISKS AND METRICS: A DYNAMICS TEST.Int. J. Innov. Mgt., 17(03), p.1340014. Dibb, S. (2013). Managing risks or stifling innovation? Risk, hazard and uncertainty.International Journal of Agricultural Management, 2(3), p.125. Encyclopedia of creativity, invention, innovation and entrepreneurship. (2014).Choice Reviews Online, 51(07), pp.51-3597-51-3597. Euchner, J. (2013). The Uses and Risks of Open Innovation.Research-Technology Management, 56(3), pp.49-54. Godin, B. (2012). Innovation Studies: The Invention of a Specialty.Minerva, 50(4), pp.397-421. Godin, B. (2014). Invention, diffusion and linear models of innovation: the contribution of anthropology to a conceptual framework.Journal of Innovation Economics, 15(3), p.11. Gokhberg, L. and Meissner, D. (2013). Innovation: Superpowered invention.Nature, 501(7467), pp.313-314. Gordon, T. (2014). Introduction to New Section on Medical Technology, Innovation, and Invention.Surgical Innovation, 21(2), pp.126-127. Hynynen, J. (2013). Supporting invention and innovation in Central Finland: Inspiring IP awareness.World Patent Information, 35(2), pp.105-109. Johnsson, H. (2013). Production strategies for pre-engineering in house-building: exploring product development platforms.Construction Management and Economics, 31(9), pp.941-958. Klang, D. and Hacklin, F. (2013). Retaining fit between business models and product market strategies in changing environments.IJPD, 18(3/4), p.311. Lineaweaver, W. (2014). The Communication of Innovation and Invention.Annals of Plastic Surgery, 73(4), p.361. Mast, J. (2013). Cultural theory and its spaces for invention and innovation.Mind Soc, 12(1), pp.23-33. Pappa, A. (2014). Carry trade: benefits and risks.IJBIR, 8(4), p.411. Sandhu, S. (2013). Editorial (Thematic Issue: Innovation, Invention, and IPR in Biotechnology: Current Scenario).BIOT, 7(3), pp.171-171. Siddiqui, G., Miller, A., McKinley, S., Maduekwe, U. and Schwaitzberg, S. (2014). The Rise of Wearable Recording Devices: Opportunities and Risks in Medical Settings.Surgical Innovation, 21(5), pp.453-455. Simsek, A. (2013). Financial Innovation and Portfolio Risks.American Economic Review, 103(3), pp.398-401. Sinclair, S. and Baglioni, S. (2014). Social Innovation and Social Policy Promises and Risks.Social Policy Society, 13(03), pp.469-476.

Use of Ubiquitous Media Systems-Free-SamplesMyassignmenthlep

Question: Discuss about the Use of Ubiquitous Media Systems in Business Organizations. Answer: Introduction: At the time of conducting research proposal on the topic Use of ubiquitous media systems in business organization, I have gained practical experiences regarding the way entire research study can be conducted. In both assessment 1 and 2, I had lots of opportunity to enhance my knowledge for enhancing the quality of the research study. The 12 week teaching session has allowed me identify different models and theories related to the research topic. I have identified the way ubiquitous media is changing the operational procedure of the businesses. The research study has allowed me to identify all the related challenges associated with the ubiquitous media systems. During the development of research proposal and literature review, I have identified the areas that need to be covered for the successful completion of any research study. My overall learning experience will be illustrated in the description portion of this assessment. Effectiveness of the learning experience: I have tried to evaluate my knowledge base before and after the completion of 12 weeks study. I have identified that conduction of research proposal has allowed me to identify the way to develop clear aims and objectives about the research topic. I feel practical knowledge creates long-term impact on the overall knowledge base compared to theoretical knowledge. For instance, the study has focused using mixed research methodology with the combination of both quantitative and qualitative approach. Therefore, it has allowed me to formulate two different types of questionnaires for capturing required level of data about the research study. I believe gaining practical knowledge on conducting research will provide additional value in long run. I believe it will allow me to handle different major research projects, which will definitely help me to grow up in professional career. Usefulness of the learning process: Evaluation of the use of ubiquitous media systems in business organization will help me to identify the way operational procedure of the business process is changing over the past few years. During the conduction of literature review, I had to search and select effective secondary information. Therefore, it has allowed me to identify the best possible way to select appropriate models and theories for adding overall value of the research study. For that reason, I feel that learning from this 12 weeks course will help to handle future academic course related challenges. I believe learning from this study will help to identify the best possible way deal with the respondents for capturing relevant data about the research topic. At the same time, I feel that knowledge from this study will help to handle different professional career related challenges in an effective way. In fact, I believe qualitative data collection procedure has allowed me to assess body language or confident level of the respondents at the time of providing information. For that reason, I feel that learning from this course will help to improve the quality of my general life. Objectively of the learning process: During the 12 weeks course, I have gone through all the classes for capturing all the required information in an effective way. Here, I have gathered information about the types of data collection procedure that a research study can utilize for successful fulfilment of all the requirements. It has also helped me to understand the ubiquitous media systems concept, which I believe will be beneficial in enhancing my professional career and knowledge. I believe proper understanding of new media systems or technology is likely to create positive attitude towards adaption of different advance technologies. During the time of assignment 1 and 2, I have gained the knowledge about the preparation of Gantt chart. I have identified the best possible way to segregate different works of research activities for covering all aspect of the research topic. Therefore, it has enhanced my self-confidence for covering all the activities associated with the research procedure. Learning from the assessments: During 12 weeks study, I have covered all the areas related with business research aspect. For instance, I have developed an in-depth literature review regarding the use of Ubiquitous computing in the business procedure. I believe conduction of business research has allowed me to develop critical thinking about a specific research topic. In assessment 2, I have consciously tried to highlight the similarities and differences of thoughts for adding value to the eventual outcomes. I think it has helped the study to highlight both positive and risk factors about the Ubiquitous computing. For instance, I have highlighted the way incorporation of Ubiquitous systems has allowed businesses to utilize different popular social media platforms for enhancing the popularity in the targeted market. As a result, it has allowed me to assess the significance of developing effective communication channel with the use of social media platforms. For that reason, I feel that conducting business research is extremely useful for enhancing my research learning process. Explanation of the learning process: In order to fulfil all the requirements of assessment 1 and 2, I have tried to utilize all the learning from 12 weeks sessions. I believe development of assessment 1 and 2 has provided me required amount of exposures in the real market situations. For instance, collection of quantitative and qualitative data has allowed me to formulate and examine hypothesis in an effective way. I have identified the development of clear hypothesis is essential for providing a proper guidelines for the business research topic. On the other hand, qualitative data collection procedure has allowed me to assess the non-verbal communication or body languages of the respondents in an effective way. I have assessed the level of involvement of the respondents at the time of providing data about the research topic. I feel conduction of assessment 1 and 2 is critical for the development of my skills and knowledge. The development of research proposal has provided practical exposures to understand the way opera tional procedure of the businesses are changing over the timeframe. It has allowed me to understand effective use of marketing and communication process for reaching to all the potential customers in an effective way. It has also helped me to understand the way Ubiquitous media systems can help businesses to minimize the operational cost for achieving sustainable growth in the market. For that reason, I feel that completion of assessment 1 and 2 has allowed me to fulfil my goals of enhancing knowledge regarding the business research aspects. Application of the learning process: I have always craved to hold senior management positions in a prestigious organization. Now, in order to hold senior position in any organization, I need to remain aware about the way businesses are fulfilling their operational responsibilities. For that reason, I feel completion of 12 weeks session will help me to understand the workplace activities in an effective way. In the research proposal, I have selected respondents working in different corporate organizations. Therefore, I feel it will help me to understand perspectives of different employees working in different designation in an effective way. I believe it will help me to fulfil all the managerial responsibilities in an effective way. I also believe experience of these two assessments will help me to conduct different market research activities in future for the corporate organizations. As a result, it will help me to develop effective counter strategies for the organizations to achieve sustainable growth in the market. I believe data collection procedure will help me to understand the market needs and wants in an effective way. Therefore, it will help me to enhance the effectiveness of the decision-making skills in a major way. Thus, I believe knowledge and experience of assessment 1 and 2 will help me to accomplish my professional goals and objectives in an effective way. Conclusion: The above illustration has highlighted the fact that proper understanding of business research can help to handle different professional challenges in an effective way. I feel successful completion of both the assignments have allowed identifying all the risk factors associated with the business procedure. I have also identified the significance of including different media systems in the operational procedure for achieving continues success in the market. For that reason, I believe learning from these assessments will help to improve both

The Sports Card And Memorabilia Market Essays - Trading Cards

The sports card and memorabilia market The sports card and memorabilia market is as lucrative as ever in our culture today. The number of sports card and memorabilia stores, however, has never recovered since the backlash of the late 1980's and early 1990's. My business plan is to open ED'S SPORTS CARD The store-front will cost $400 per month. The sports card market has a year-round appeal but also has fluctuations by month. The height of business is found in November and December (holiday time) as well as in March and April (when the baseball season gets underway). An advantage to this business is the extremely low amount of advertising money needed. By accessing the Internet (through a $2500 computer and $20 per month America OnLine service), a card and memorabilia store can have virtually all the advertising they can put on-line at no extra cost. A webpage (through a provider like GeoCities or Angelfire) is free and posting in Usenet groups or on AOL's "Card Collector's Corner" is also free. All you have to pay is the monthly service charge. An advantage of using the Internet for this business is the profit margin. It is not uncommon to find cards on the Internet selling for 10% to 40% of it's actual value (i.e. a $100 card can be found for $10 to $40), or "pre-order" buys on upcoming products to be way below the market price (i.e. a $67 pre-order on a box that will sell for $110 wholesale). This enables the business owner to turn over inventory at a price that the consumer finds reasonable (under it's "value") and the businessman finds profitable. Start-up costs are pretty low for this business also. I figured that I can start a business for under $8,000 and maintain it for about $1,500 a month. This includes showcases, the previously mentioned computer, inventory, rent, advertising, supplies, and utilities. The average daily expense for maintaining the store is under $50 a day. What I have not figured into the amount to start-up this business is a sign outside the store. Many baseball card shop owners have told me that their sign was free! This was done by contacting one of the major card companies (Topps, Fleer, Upper Deck, or Pinnacle) and placing their corporate logo on the sign. I have been ivolved in this industry as a collector since 1985. I have been a part-time dealer since 1995. An average month as a part-time dealer (8 card shows and on-line transactions throughout the month), results in about $2,000 worth of sales and $420 worth of expenses (8 card shows times $50 per show, plus $20 for America OnLine). If my store doubled this pace (which would be still be slow for a full-time card store), it would take a little over four months to break even and it would make over $23,000 in profit in it's first year. The chart attached shows how this was figured. This business may not seem very profitable according to the figures I have provided, but these are low-end estimates. Many companies like L.J. Sands, Co. provide baseball card portfolios (like stock portfolios) for high-dollar investors. This involves finding cards of Hall of Fame caliber players that are undervalued and waiting for them to rise in value. A good example of this today is Ken Griffey Jr of the Seattle Mariners. His rookie card (1989 Upper Deck, card number 1) is valued at $70.00, in the past four years it has never been valued under $65.00, but as of April 25th he has 13 homeruns and is on pace to break Roger Maris' single-season record (61 in 1961). If this happens, the Griffey Jr card will soar to a new value. This will not be unprecedented. When Jose Canseco became the first player to hit 40 homeruns and steal 40 stolen bases in one season, his 1986 Donruss rookie card soared from $7 to $150, currently the card is available at $12. Two years ago, whe! n Cal Ripken Jr broke Lou Gehrig's "Ironman" streak of 2,130 consecutive games his rookie card (1982 Topps Traded) went from $150 to $300.

Ecological Footprint essays

Ecological Footprint essays As you read down through my ecological footprint summary, you can see that there is a huge problem with the amount of resources that I use. If everyone lived like me, there would be a need for six and a half planets to keep the system of our vast planet from shutting down. We all grew up with buzz words like acid rain, ozone layer, global warming, Exxon Valdez, Cheronobyl, and so on. We didn't have to learn about the environmental movement, we were born into it. The big reason why you should buy locally produced food is simple,trucks spew exhaust and trucks that travel further spew more exhaust. Favour products that are produced locally less distance means less pollution It's a matter of math that a reduced meat lifestyle has less impact on the environment. It takes 4 lbs of cereal grains to make 1 lb of chicken; eating meat is essentially an inefficient way of eating vegetable products. When we eat grains in this manner, much more has to be produced then we really needthat means more pesticides, more water wasted, more transportation, etc. It's true that a lot of beef cattle just range on grass but there are still the issues of methane (one of the most potent greenhouse gases) from livestock, antibiotics in our food, soil erosion, and the treatment of animals An "Ecological Footprint" is a measure of the "load" imposed on the natural environment by a given population and represents the land area necessary to sustain current levels of resource consumption and waste discharge by the population. Human activities such as eating, traveling, heating homes, and purchasing consumer items all contribute to ecological footprints. Yet, the Earth's population grows by nearly 100 million people each year. And all over the planet ,productive ecosystems and farms are being converted into subdivisions, parking lots, industrial parks, shopping malls and highways - all ecological wastelands.the automobile, fast a ...