Free Essays on TQM

BABY-STEPS TO TQM THESIS: â€Å"THIS PROJECT HAS BEEN DEVELOPEDTO OFFER AN EASY TO READ AND UNDERSTAND, STEP BY STEP PROCESS ON THE IMPLIMENTATION AND CONTROL OF TOTAL QUALITY MANAGEMENT ON A NEW FOUND FLURISSING HOSPITALITY BUSINESS. SPECIFICALLY RESTAURANT AND NIGHT LIFE† PRELIMINARY OUTLINE 1-HISTORY OF TQM - HISTORY OF TQM - DEFENITION OF TQM - CHARACTERISTICS OF TQM - BASIC THEORIES OF TQM - INNOVATIONS 2-ADVANTAGES VS. DISADVANTAGES - BASIC PROCEDURS - GUIDELINES - ADVANTAGES - DISATVANTAGES - APPLICABILITY ON HOSPITALITY FIELDS - QUALITY CONTROLE - PERFORMANCE MESURMENTS 3-IMPLIMENTATION TO BUSINESS â€Å"X† Quality As A Strategy In the 1980’s, Motorola was losing market share to the Japanese competition in their core product lines-semi-conductors, cellular phones, and pagers. Later, Motorola executives realized that this loss was due to the Japanese producing similar products but with better quality and lower prices. The Motorola executives always believed that producing better quality requires high costs, but the Japanese were proving this theory wrong. Bob Galvin, the chairman of Motorola was determined to beat the Japanese, and to do so he had to improve the quality of his company’s products and often lower prices. For that reason, he initiated the Total Quality Management program in 1983. The result of this program was a drop in deficit rates from 6 per thousand in 1986 to 40 per million by the end of 1991. The same program helped the corporate finance department to close its books in 4 days instead of 12, and service centers have cut their repair time from 12 days to 7. Also as a result of this program, new products are brought to market quicker. In 1988, Motorola won the Malcolm Baldrige National Quality Award, and in addition, the results have also been spectacular. At the end, Motorola has regained its market share and at the same time increased its profits. The Hist... Free Essays on Tqm Free Essays on Tqm BABY-STEPS TO TQM THESIS: â€Å"THIS PROJECT HAS BEEN DEVELOPEDTO OFFER AN EASY TO READ AND UNDERSTAND, STEP BY STEP PROCESS ON THE IMPLIMENTATION AND CONTROL OF TOTAL QUALITY MANAGEMENT ON A NEW FOUND FLURISSING HOSPITALITY BUSINESS. SPECIFICALLY RESTAURANT AND NIGHT LIFE† PRELIMINARY OUTLINE 1-HISTORY OF TQM - HISTORY OF TQM - DEFENITION OF TQM - CHARACTERISTICS OF TQM - BASIC THEORIES OF TQM - INNOVATIONS 2-ADVANTAGES VS. DISADVANTAGES - BASIC PROCEDURS - GUIDELINES - ADVANTAGES - DISATVANTAGES - APPLICABILITY ON HOSPITALITY FIELDS - QUALITY CONTROLE - PERFORMANCE MESURMENTS 3-IMPLIMENTATION TO BUSINESS â€Å"X† Quality As A Strategy In the 1980’s, Motorola was losing market share to the Japanese competition in their core product lines-semi-conductors, cellular phones, and pagers. Later, Motorola executives realized that this loss was due to the Japanese producing similar products but with better quality and lower prices. The Motorola executives always believed that producing better quality requires high costs, but the Japanese were proving this theory wrong. Bob Galvin, the chairman of Motorola was determined to beat the Japanese, and to do so he had to improve the quality of his company’s products and often lower prices. For that reason, he initiated the Total Quality Management program in 1983. The result of this program was a drop in deficit rates from 6 per thousand in 1986 to 40 per million by the end of 1991. The same program helped the corporate finance department to close its books in 4 days instead of 12, and service centers have cut their repair time from 12 days to 7. Also as a result of this program, new products are brought to market quicker. In 1988, Motorola won the Malcolm Baldrige National Quality Award, and in addition, the results have also been spectacular. At the end, Motorola has regained its market share and at the same time increased its profits. The Hist... Free Essays on TQM TQM = CHANGE Introduction 3 Reasons for Resistance 3 Cause of Resistance 4 Barriers to Change 4 Stages of Change Implementation 6 Effective Implementation Through Active Learning 7 Conclusion 7 References 9 Introduction â€Å"Somebody once said: â€Å"The only one who likes change is a wet baby† (Mariutti, 1996, p.30). As long as we are comfortable with our surroundings and ourselves we as human beings will always be resistant to change. We fear the unknown because we do not like to be challenged with change. In order to fully change an individual’s style of thinking and working, we must understand the theory and techniques in order to break down the barrier of resistance. Reasons for Resistance There are several reasons for resistance to change from employees. Some of these reasons include no personal gain, bad timing, job security, the unknown, lack of resources, and fear of incompetence. Individuals that are resistant to change fear the unknown when they do not know how it will affect their lives and the changes it will bring. I can relate to this in my job as the warehouse manager at Integrated Supply Network, Inc. ISN has been through several changes in the last year regarding reengineering the warehouse to improve quality for our internal and external customers. In 1999 under the guidance of another warehouse manager the warehouse was forced to change. The people that were tasked with making the change had a power struggle and a lack of trust and understanding with the past warehouse manager. This was due to the manipulation tactics that were used. Also, this person used the authoritarian leadership style to maintain control of the warehouse team. The manager tried to make changes without a plan or without asking questions. In the end the warehouse employees teamed together and got rid of the manager. As you will see we needed to have a plan to implement change. B...

How the Great Depression Altered US Foreign Policy

How the Great Depression Altered US Foreign Policy As Americans suffered through the Great Depression of the 1930s, the financial crisis influenced U.S. foreign policy in ways that pulled the nation even deeper into a period of isolationism. While the exact causes of the Great Depression are debated to this day, the initial factor was World War I. The bloody conflict shocked the global financial system and altered the worldwide balance of political and economic power. The nations involved in World War I had been forced to suspend their use of the gold standard, long the determining factor in setting international currency exchange rates, in order to recover from their staggering war costs. Attempts by the U.S., Japan, and the European nations to re-instate the gold standard during the early 1920s left their economies without the flexibility they would be needed to cope with the financial hard times that would come in the late 1920s and early 1930s. Along with the great U.S. stock market crash of 1929, economic difficulties in Great Britain, France, and Germany coincided to create a global â€Å"perfect storm† of financial crises. Attempts by those nations and Japan to hold on to the gold standard only worked to fuel the storm and hasten the onset of a global depression. Depression Goes Global With no coordinated international system of dealing with a worldwide depression in place, the governments and financial institutions of the individual nations turned inward. Great Britain, unable to continue in its long-held role as the mainstay and chief ​money lender of the international financial system, became the first nation to permanently abandon the gold standard in 1931. Preoccupied with its own Great Depression, the United States was unable to step in for Great Britain as the world’s â€Å"creditor of last resort,† and permanently dropped the gold standard in 1933. Determined to resolve the global depression, leaders of the world’s largest economies convened the London Economic Conference of 1933. Unfortunately, no major agreements came out of the event and the great global depression persisted for the rest of the 1930s. Depression Leads to Isolationism In struggling with its own Great Depression, the United States sank its foreign policy even deeper into post-World War I stance of isolationism. As if the Great Depression was not enough, a series of world events that would result in World War II added to Americans’ desire for isolation. Japan seized most of China in 1931. At the same time, Germany was expanding its influence in Central and Eastern Europe, Italy invaded Ethiopia in 1935. The United States, however, chose not to oppose any of these conquests. To a large degree, Presidents Herbert Hoover and Franklin Roosevelt were constrained from reacting to international events, no matter how potentially dangerous, by the demands of the public to deal exclusively with domestic policy, primarily bringing an end to the Great Depression. Having witnessed the horrors of World War I, Hoover, like most Americans, hoped to never see the United States involved in another world war. Between his election November 1928 and his inauguration in March 1929, he traveled to the nations of Latin America hoping to win their trust by promising that the U.S. would always honor their rights as independent nations. Indeed, in 1930, Hoover announced that his administration’s foreign policy would recognize the legitimacy  of the governments of all Latin American countries, even those whose governments did not conform to American ideals of democracy. Hoover’s policy was a reversal of President Theodore Roosevelt’s policy of using force if necessary to influence the actions of Latin American governments. Having withdrawn American troops from Nicaragua and Haiti, Hoover proceeded to avoid U.S. intervention in some 50 Latin American revolutions, many of which resulted in the establishment of anti-American governments. As a result, America’s diplomatic relations with the Latin American warmed during the Hoover presidency. Under the 1933 Good Neighbor Policy of President Franklin Roosevelt, the United States reduced its military presence in Central and South America. The move greatly improved U.S. relations with Latin America, while making more money available for depression-fighting initiatives at home. Indeed, throughout the Hoover and Roosevelt administrations, the demand to rebuild the American economy and end rampant unemployment forced U.S. foreign policy onto the backmost burner †¦ at least for a while. The Fascist Effect While the mid-1930s saw the rise conquest of militaristic regimes in Germany, Japan, and Italy, the United States remained entrenched in isolation from foreign affairs as the federal government struggled with the Great Depression. Between 1935 and 1939, the U.S. Congress, over the objections of President Roosevelt, enacted a series of Neutrality Acts specifically intended to prevent the United States from taking any role of any nature in potential foreign wars. The lack of any significant U.S. response to the invasion of China by Japan in 1937 or the forced occupation of Czechoslovakia by Germany in 1938 encouraged the governments of Germany and Japan to expand the scope of their military conquests. Still, many U.S. leaders continued to believe the need to attend to its own domestic policy, mainly in the form of ending the Great Depression, justified a continued policy of isolationism. Other leaders, including President Roosevelt, believed that U.S. non-intervention simple allowed the theaters of war to grow ever-closer to America. As late as 1940, however, keeping the U.S. out of foreign wars had widespread support from the American people, including high-profile celebrities like record-setting aviator Charles Lindbergh. With Lindbergh as its chairman, the 800,000-member-strong America First Committee lobbied Congress to oppose President Roosevelt’s attempts to provide war materials to England, France, the Soviet Union, and the other nations fighting the spread of fascism. When France finally fell to Germany in the summer of 1940, the U.S. government slowly started increasing its participation in the war against fascism. The Lend-Lease Act of 1941, initiated by President Roosevelt, allowed the president to transfer, at no cost, arms and other war materials to any â€Å"government of any country whose defense the President deems vital to the defense of the United States.† Of course, the Japanese attack on Pearl Harbor, Hawaii, on December 7, 1942, thrust the United States fully into World War II and ended any pretense of American isolationism. Realizing that the nation’s isolationism had to some degree contributed to the horrors of World War II, U.S. policymakers once again began to emphasize the importance of foreign policy as a tool in preventing future global conflicts. Ironically, it was the positive economic impact of America’s participation in World War II, which had been long-delayed in part by the Great Depression that at last pulled the nation out of its longest economic nightmare.

How FDI Helps Nurture Domestic Competition Environment Dissertation

How FDI Helps Nurture Domestic Competition Environment - Dissertation Example Second, the typical Solow growth model is offered aiming at simplifying the main drives for economic growth. Moreover, a comprehensive analysis of the actions of the MNEs is included. As a result, this method provides a multi-dimensional approach which puts emphasis on the modifications in efficiency, labour and possible spillover effects arising from the MNEs’ actions in China. Table of Content Contents Abstract 2 Table of Content 3 Contents 3 Introduction 3 Literature Review 5 Theoretical Framework 6 The Model 6 Conceptual Framework 11 Unconditional Approach 13 Conditional Approach 14 Total Factor Productivity Approach 16 Methodology 18 Research Methods 18 Data Sources 19 References 20 Introduction One of the greatest sensitive zones in international economics currently is Foreign Direct Investment (FDI). Developing countries like China dread misuse on one hand, and insufficient access to foreign capital, expertise, marketing, and administration skills on the other. FDI comp rises a course of financial capital and impalpable assets like technology, professional capabilities, promotion skills and other possessions (Blonigen, 2005). It is worth noting that direct investment, in most cases, it begins with a minute or no net flow of financial capital. Occasionally, the parent company only adds its trademark name, managerial principles pegged with other assets of the less tangible variety (Moosa, 2002). A good prevarication strategy for a parent company that has foreign currency possessions in its partners is to take on foreign currency obligations as well (Ruane, & Ugur, 2005). This is made available by appropriating in foreign moneys that are used to fund the affiliate. In the current years, the portion of the developing nations as a basis of FDI significantly intensifies. However, the lion’s part is reserved to the EU nations, USA and Japan which make up for 80-90 percent of the entire FDI outflows. In situations where FDI is measured as a proporti on of GDP, the developed nations still account for the inordinate majority of FDI outflows (Kneller & Pisu, 2005). The role of FDI unavoidably increases in a quickly globalizing world. Bill Gates once said: â€Å"No one gets to vote on whether technology is going to change our lives†. By utilizing this quote as a representation, comparable parallels can be made in respect to FDI. No doubt, FDI has developed into an evitable part of the current globalized world and no person has the authority to stop this development. Therefore, it is vital that the consequences of FDI to the host economies be carefully and independently assessed. It is worth declaring that this is not an easy task, bearing in mind the schism of the bulk of opinions (Simpson, 2010). GDP, Export and FDI flows* *(Constant 1995 US$ index numbers, 1970=100, log scale) Source: Navaretti & Venables, 2004 Literature Review Theoretical Framework This chapter targets to provide the dissertation with a resilient theoret ical framework in association with economic growth pegged with its determinants. By understanding and appreciating what motivates the development in the short and long-run, it will be much tranquil to identify the influence that FDI has on the domestic competition environment. The beginning point of this investigation is the structure of a production function. Bestowing Alfaro, Kalemli-Ozcan and Sayek, (2009), we will use Solow’s neo-classical model of economic growth as a foundation of the discussion. This model was a

Compare and Contrast God's nature in the Book of Proverbs, Book of Term Paper

Compare and Contrast God's nature in the Book of Proverbs, Book of Ecclesiastes and the Book of Job - Term Paper Example The book of Proverbs on the other hand gives an account of the expressions of man in the radiance of God’s wisdom and counsel. The book does this through giving of practical living teachings, righteousness and actions as well as attitudes that are godly. Lastly, Ecclesiastes gives an expression of man to himself, as he appears to question the existence of inequities as well as idiocy in life (Whybray 24). Job provides for an exception of the general rule that is depicted in Proverbs, as it does not matter how Job lived as the supernatural powers in this case God, demons and angles. The supernatural powers also include persons who could interrupt the formal way of things and have the Book of Proverbs to seem untruthful to persons who aspires to live wisely but finds his life a disaster. This is different from the book of Ecclesiastes that provides accounts that we can relate to be as true to the normal personal experiences that persons can live a horrible life but still be succ essful. One could possibly read the proverbs and identify a clear theme being emphasized unlike the Job. Job is better understood if read as a whole unlike any other book in the Old Testament (Whybray 28). ... Wisdom literature is divided into two namely; speculative and proverbial wisdom. Proverbial wisdom is displayed in the book of proverbs whereby pithy, short sayings whereby God’s nature is revealed in set rules for personal welfare and happiness. Speculative wisdom is found in the book of Ecclesiastes and Jobs. Wisdom in Ecclesiastes is in term of monologues whereas job wisdom literature is that of dialogues. In this type of speculative wisdom, God nature is revealed through problems as a way of shaping the relationship between people and God (Rowley, p. 234). To begin with, the Book of Job purposes to give a justification of Job’s fear for God. The book is a direct of companion to the facts of the accounts of life that were written by Solomon in the books of Proverbs and Ecclesiastes. Despite him being wealthy (Job 1:13), Job undergoes a lot of suffering and gives us the true illustrations of faith, trust and perseverance. Through the book God’s character and ju stice is placed at the forefront of all the discussions that Job had with his friends. In Job 3, job curses the day of his birth and relates it to darkness, chaos and gloom as well as cursing his maker we are made to seek to know if at all man can be just and blameless in the eyes of the Lord. Through Eliphaz (Job 6:24-30) we are given the idea that God only reproves those who are unjust and wicked and this is believed to be the cause for Job’s suffering. However, Job accounts that no man is just and blameless before the lord and is quick to ask for clemency. The book incites diverse interpretations, which range from basic morality to philosophical discussions (Rowley, 295). The book emphasizes on the importance of wisdom, as this is what Job

Better Work Life Balance Survey in Ncc Bank Limited Essay Example for Free

Better Work Life Balance Survey in Ncc Bank Limited Essay This report provides an overview of different types of work-life balance initiatives that have been developed by in the financial institutions of Bangladesh. Governments are increasingly committed to reducing the social, health and business costs of work-life conflict. Several countries have adopted individual pieces of legislation or policies that address some aspect of work-life balance. These initiatives are not necessarily part of a comprehensive program or policy approach to achieve work-life balance, but these measures could be seen as one way to improve an employees balance between work and other responsibilities. This report shows that there is not likely to be any one size fits all answer to work-life balance issues. A variety of approaches are available to support work-life balance, ranging from promotional programs that emphasize the importance of balance and provide support to employers to reduce the business costs associated with work-life conflict, to legislation that supports parents with care giving responsibilities. It is clear that improving work-life balance is an important component of the policy agenda for many industrial countries, and the issue is likely to become even more important in the future. The first Work-Life Balance Survey (WLB1) was conducted by the Department for Education and Employment in 2000 to assess the extent to which employers operated work life balance practices; to see whether employees felt that existing practices met their needs; and to provide a baseline against which future surveys could be compared. Changes were made in the survey’s methodology between the first baseline study conducted by IFF and the second survey of employees (WLB2) conducted in 2003 by MORI, and fieldwork for the 3 Second survey was conducted prior to the introduction of the right to request flexible working. This report presents the results of the Third Work-Life Balance Employees’ Survey, conducted by telephone in early 2006. Work-life balance is a phrase used to describe an individuals feelings of satisfaction with the participation in job-related activities and his or her personal life. This state is achieved when an individual feels the amount of time spent making money to provide for ones household and advancing career goals is adequately balanced with the amount of time spent in independent and personal pursuits, such as friendships, family, spirituality, hobbies, and leisure activities. Failure to maintain work-life balance may result in significant emotional distress and reduction of productivity. In many cases, spending more time at work may actually lead to a decrease in productivity. Some individuals feel that their workplace creates too many pressures to maintain a work/life balance, and they may feel a reduction in their feelings of satisfaction and enjoyment of life. Some individuals feel as if there is not enough time for other aspects of life 1. INTRODUCTION: 1. 1. Introduction to the topic: Work-life balance is a broad concept including proper prioritizing between work (career and ambition) on one hand and life (pleasure, leisure, family and spiritual development) on the other. Related, though broader, terms include lifestyle balance and life balance. In general, individuals who work more than 60 hours per week are colloquially called workaholics. The phrase workaholic became popular in 1971 when Wayne Oates published the book, Confessions of a Workaholic. The phrase workaholic is not a clinical term, but it is generally used to describe individuals who neglect their personal lives in favor of work- and career-related pursuits. The phrase work-life balance became popular as a managerial concept when employers realized that their workers demonstrated increased productivity, decreased turnover, and dedication to the company when the concept was observed and respected.

Great Gatsby :: essays research papers

One night, Gatsby waylays Nick and nervously asks him if he would like to take a swim in his pool; when Nick demurs, he offers him a trip to Coney Island. Nick, initially baffled by Gatsby's solicitousness, realizes that he is anxiously waiting for Nick to arrange his meeting with Daisy. Nick agrees to do so. Gatsby, almost wild with joy, responds by offering him a job, a "confidential sort of thing," and assures Nick that he will not have to work with Meyer Wolfsheim. Nick is somewhat insulted that Gatsby wishes to reimburse him for his help, and so declines Gatsby's offer. It rains on the day that Gatsby and Daisy are to meet, and Gatsby becomes extremely apprehensive. The meeting takes place at Nick's house and, initially, their conversation is stilted and awkward. They are all inexplicably embarrassed; when Gatsby clumsily knocks over a clock, Nick tells him that he's behaving like a little boy. Nick leaves the couple alone for a few minutes; when he returns, they seem luminously happy, as though they have just concluded an embrace. There are tears of happiness on Daisy's cheeks. They make their way over to Gatsby's mansion, of which Gatsby proceeds to give them a carefully rehearsed tour. Gatsby shows Daisy newspaper clippings detailing his exploits. She is overwhelmed by them, and by the opulence of his possessions; when he shows her his vast collection of imported shirts, she begins to weep tears of joy. Nick wonders whether Gatsby is disappointed with Daisy; it seems that he has made of her a goddess, and  ­ though Daisy herself is alluring  ­ she cannot possibly live up to so grandiose an ideal. Gatsby has Ewing Klipspringer, a mysterious man who seems to live at his mansion, play "Ain't We Got Fun" (a popular song of the time) for himself and Daisy: In the morning, in the evening Ain't we got fun! Got no money, but oh, honey Ain't we got fun! As Klipspringer plays, Gatsby and Daisy draw closer and closer together; Nick, realizing that his presence has become superfluous, quietly leaves. Analysis The exchange between Nick and Gatsby that opens this chapter highlights the uncertainty at the heart of their relationship: is Gatsby's friendship with Nick merely expedient  ­ that is, is he merely using him to draw closer to Daisy  ­ or is he genuinely fond of him? The question cannot be absolutely decided: while it becomes clear that Gatsby has great affection for Nick, it is also true that he uses his money and power as leverage in all of his personal relationships.

Time I Learned a Lesson

While living in a state as hot as Arizona, not only do the football players have to drink a lot of water, but everyone else as well. The day I didn't taught me a lesson: Actions, good or bad, are followed with consequences. I thought my body would be perfectly fine without some water for the day but boy was I wrong. Just minutes before the incident, the only Item on my mind was how fun the rap concert would be the following night. Little did I know, I would not be attending.A late night trip to Albertson Isn't rare for my family as we forget things tie easily (and when I say we I mean I). I entered Albertson with a mental list of Ethylene, snacks, and Storage. Yet, I still made my way to the ice cream aisle as I seem to always be gravitated towards it. Him, what flavor sounds good? Ben and Jerry Peach Cobbler gets me every time! I reach out to grab that perfect concoction and smack! My body now lays lifeless on the floor as I blackout. Seconds, minutes, maybe hours later I become con scious. I make an effort to move my limbs but there's no use.My heavy eyelids have a arid time opening, I force them open and find myself in a hospital bed wearing one of those dresses I promised myself I'd never wear. My eyes find their way to the side of my bed where my motherly sits, pale skinned, and mouthing my name. Her voice finally registers Into my head as it translates from terrified to joyful. My very own nurse rushes In once I'm awake. She tries her hardest to talk slowly and uses hand gestures to explain why I'm here, why I'm lifeless, and why I'm wasn't eating my ice cream in the comfort of my own home.I had blacked out for several hours. Well that was an unexpected nap, I thought to myself. My nurse says the word dehydrated and it clicks my mental grocery list. There was Ethylene for my headache, snacks for nauseates, and Storage for extreme thirst. How could I be so stupid? The next day my life carried on normally: I woke up, ate, went to school, ate, napped, ate, di d my homework, ate, and slept. Of course there was a lot more water in my system compared to the day before, but drinking more water wasn't the lesson learned.I could have been testing and driving, or not completing a homework assignment but the point was the same; there were consequences to my every move. I could've been In a car accident or simply slotting In SAD with a bunch of kids I TLD know. It's your own choices that make you or break you In this life, what will you choose? And will you be prepared for the consequences that follow? BY excellencies English II- Period 3 A typical sight in the halls of Hamilton High School are the tall and built young men of was I wrong.Just minutes before the incident, the only item on my mind was how fun attending. A late night trip to Albertson isn't rare for my family as we forget things quite easily (and when I say we I mean l). I entered Albertson with a mental list of finally registers into my head as it translates from terrified to Joyfu l. My very own nurse rushes in once I'm awake. She tries her hardest to talk slowly and uses hand I could've been in a car accident or simply sitting in SAD with a bunch of kids I didn't know. It's your own choices that make you or break you in this life, what will you

Sources of Capital: Owner’s Equity

Owner’s Equity as a Source of Capital Sources of capital come in two forms: debt and equity. Obtaining permanent capital through equity is the capital supplied by the entity’s owners. It is the owner’s share in the financing of all the assets. Richard Scott, United States accounting professor wrote, â€Å"one of the most deep-seated, and incontrovertible concepts embraced by accounting theory today is that of owner’s equity. † Through analysis of the case, we found this to be true. There are different financing costs both a company and its investors face when considering equity financing. It is strangely fascinating that often times, equity financing becomes more costly than debt financing. The analysis of opportunity for both sides of the transaction, financier and debtor, requires multiple formulas and calculations. Options for financing vary in pre-tax earnings and return on investment. For this reason, the options should be thoroughly analyzed to find the best yield for both parties, company and investor. Innovative Engineering Company was founded as a partnership, and within five years became a thriving business bringing with it both success and the need for new permanent capital. The two partners, Gale and Yeaton, estimated the capital need at $1. 2 million. Initially, the partners found interested investors, but none willing to risk their personal assets by participating in a partnership. Though incorporation is more costly and subject to numerous regulations, it provides limited liability to its investors and the ability to raise capital through bonds and stock. The partners planned to form a corporation to secure investors. Under incorporation, owner’s equity becomes stockholder’s equity. The two types of equity are purchased equity, consisting of preferred stock, common stock, and paid in capital, and that of earned equity, also referred to as retained earnings. The later represents profits earned by the company and retained in the business. Owner’s equity is shown on the balance sheet and within the statement of owner’s equity in a company’s financial statements, and is most commonly influenced by income and dividends. Four proposals were developed to attempt to meet the needs of investors in the Innovative Engineering case and the two original partners struggled to maintain ownership control. Proposal A includes a $1. million long-term loan, giving Arbor Capital Corporation 10% common stock. Proposal B includes $200,000 debt, $900,000 preferred stock, and $100,000 common stock. Proposal C includes $600,000 debt, $600,000 equity with 40% common stock. Proposal D includes $300,000 debt, $900,000 equity with 50% common stock. Calculating the impli cations of each proposal is necessary to seek further investors and find the best option for both sides of the transaction. Gale and Yeaton assumed an interest cost of debt at 8% and a dividend rate for preferred stock at 10%. They also assumed pessimistic, best guess, and optimistic variables. The applicable tax rate is 34%. The return on common shareholder’s equity earned under each of the three income assumptions is as follows: Proposal A: Debt = $1,100,000 Taxes= 34% Payment on Debt = $1,100,000(. 08) = $88,000 Common Stock = $1,000,000 Pessimistic NI – Interest Expense+ Tax Savings/Common Stock = $100,000 – 88,000+34,000 = 46,000/1,000,000 = 4. 6% Best Guess $300,000-88,000+102,000 = 314,000/1,000,000 = 31. 4% Optimistic $500,000 – 88,000+170,000 = 514,000/1,000,000 = 51. 4% Proposal B: Debt = $200,000 Payment on Debt = $200,000(. 08) = $16,000 Preferred Stock = $900,000 Dividend Payment for Preferred Stock = $900,000(. 0) = $90,000 Common Stock = $100,000 Common Shareholder’s equity = 1,000,000 Taxes = 34% Pessimistic NI-Interest Expense-Preferred Div+ Tax Savings/Common Stock $100,000-16,000-90,000+34000 = 28,000/1,000,000 = 2. 8% Best Guess $300,000-16,000-90,000+ 102,000= 296,000/1,000,000 = 29. 6% Optimistic $500,000-16,000-90,00 0+170,000 = 564,000/1,000,000 = 56. 4% Proposal C: Debt = $600,000 Payment on Debt = $48,000 Common Stock = $1,500,000 Taxes = 34% Pessimistic NI-Interest Expense+Tax Savings/Common Stock $100,000-48,000+34,000 = 86,000/1,500,000 = 5. 7% Best Guess $300,000-48,000+102,000 = 354,000/1,500,000 =23. 6% Optimistic 500,000-48,000+170,000 = 622,000/1,500,000 = 41. 47% Proposal D: Debt = $300,000 Common Stock = $1,800,000 Taxes = 34% Pessimistic NI-Debt+Tax Savings/Common Stock $100,000-24,000+34,000 = 110,000/1,800,000 = 6. 1% Best Guess $300,000-24,000+102,000 = 378000/1,800,000= 21% Optimistic $500,000-24,000+170,000 = 646,000/1,800,000 = 35. 89% From this, we see proposal D is the optimal investment strategy for Arbor Capital Corporation. The three income assumptions provide higher returns at a more constant rate than the other proposals. For Innovative Engineering Company, proposals A and B are more ideal for meeting their control needs. For a further analysis of earnings, the pre-tax earnings and return on investment are calculated as follows: Pre-Tax = 100,000 / (1-. 34) = 151,515. 15 Proposal A: Debt = $1,100,000 Common Stock = $100,000 Interest = $88,000 Dividend = $21,200 Pre-Tax Earnings = $109,200 (sum – common stock and debt) Return on Investment = 9% (pre-tax earnings / $1,200,000) Proposal B: Debt = $200,000 Preferred Stock = $900,000 Common Stock = $100,000 Interest = $16,000 Preferred Dividend =$90,000 Common Dividend =$10,000 Pre-Tax Earnings = -$64,000 Return on Investment = -5% Proposal C: Debt = $600,000 Common Stock = $600,000 Interest = $48,000 Common Dividend = $240,000 Pre-Tax Earnings = $288,000 Return on Investment = 24% Proposal D: Debt =$300,000 Common Stock = $900,000 Interest = $24,000 Common Dividend = $450,000 Pre-Tax Earnings = $474,000 Return on Investment = 40% Again, proposal D shows the most promise for Arbor Capital Corporation, with larger pre-tax earnings and a greater return on investment. Innovative Engineering Company is in a good position and has options. They should not consider proposal B. Proposal A will give them greater control over the company but comes with large debt financing and is risky. They should consider other investors and should look at options such as warrants. They should further research their options for a large loan. We have found debt financing can be cheaper than equity financing and should be considered. We are certain Innovative Engineering Company could find more attractive financing than proposal D. They should have more options, because their need is success driven versus a start-up company. From outside research we have found there is a natural definition of market efficiency relating capital stock and investment flow. Obviously, equity finance should not be used if it becomes more expensive than debt financing. The company can create value by managing these sources of capital, finding an optimal balance of both. Works Cited Anthony, R. N. , Hawkins, D. F. & Merchant, K. A. (2007). Accounting Text & Cases (12th ed. ). Boston: McGraw-Hill Irwin. Frieden, Roy (2010). â€Å"Asymmetric information and economics. † Physica A. Volume 389 Issue 2. Scott, Richard (1979). â€Å"Owner’s Equity, The Anachronistic Element. † The Accounting Review. Volume 4.

The Randolph Caldecott Medal Current and Past Winners

The Randolph Caldecott Medal Current and Past Winners About the Randolph Caldecott Medal In the United States, receiving the Randolph Caldecott Medal is the highest honor an artist can achieve for childrens book illustration. The Caldecott awards are administered by the Association for Library Service to Children (ALSC), a division of the American Library Association (ALA).  The award is named after Randolph Caldecott, a nineteenth century English illustrator who was known for his picture book illustrations. According to ALSC, the Caldecott Medal is an annual award. and childrens picture books published in the previous year in English in the U.S. are eligible as long as the artwork is original and the artist is a U.S. citizen or a resident of the United States. The Medal honors the years most distinguished American picture book for children. The 2016 Caldecott Medal Winner and Honor Books The 2016 Caldecott Medal winner is Finding Winnie: The True Story of the World’s Most Famous Bear. Sophie Blackall is the illustrator and Lindsay Mattick the author of the story of the bear who became the inspiration for A.A. Milnes Winnie-the-Pooh. To learn more about the storys background, history, author and illustrations, watch the excellent  Finding Winnie: The True Story of the World’s Most Famous Bear video from the publisher. (Little, Brown and Company, an division of Hachette Book Group, Inc., 2015. ISBN:  978-0316324908) 2016 Caldecott Honor Books Four childrens picture books were selected as 2016 Caldecott Honor Books. Two of them are on my Best Illustrated Picture Books of 2015 list. Trombone Shorty - The painting and collage mixed media illustrations by Bryan Collier and the words by New Orleans musician Troy Trombone Shorty Andrews make this picture book autobiography sing. (Abrams Books for Young Readers, an imprint of ABRAMS, 2015. ISBN: 9781419714658)Waiting, illustrated and written by Kevin Henkes (Greenwillow Books, an imprint of HarperCollins Publishers, 2015. ISBN: 9780062368430). For more information, read my summary of Waiting.Voice of Freedom:  Fannie Lou Hamer, Spirit of the Civil Rights Movement - Illustrated with dramatic collage by Ekua Holmes, Voice of Freedom is a biography in verse written by Carole Boston Weatherford for ages 10 and up. (Candlewick Press, 2015. ISBN: 9780763665319)Last Stop on Market Street, illustrated by Christian Robinson and written by Matt de la Peà ±a Last Stop on Market Street is also the 2016 John Newbery Medal winner for young peoples literature. (G. P. Putnam’s Sons, an imprint of Penguin Group (USA), 2015. Past Randolph Caldecott Medal Winners and Honor Books In most years, in addition to the Caldecott Medal winner, several books are designated Caldecott Honor Books for the quality of their illustrations. For Caldecott Medal winners from 1938 to 2013. To learn more about recent Caldecott Medal winners and Caldecott Honor Books, see: 1938 - 2015: All the Randolph Caldecott Medal Winners2014 Randolph Caldecott Medal Winner and Honor Books2013 Randolph Caldecott Medal Winner and Honor Books2012 Caldecott Medal Winner and Caldecott Honor Books2011 Caldecott Medal Winner and Caldecott Honor Books2010 Caldecott Medal Winner and Caldecott Honor Books2009 Caldecott Medal Winner and Caldecott Honor Books2008 Caldecott Medal Winner and Caldecott Honor Books2007 Caldecott Medal Winner and Caldecott Honor Books There are many wonderful childrens books on these lists, and I hope you will have the time to look over the lists and select some of these picture books to share with your children.

Argumentative Essay Writing Tips

Argumentative Essay Writing Tips How to Write an Argumentative Essay? An argumentative essay typically consists of major points. However, the body paragraphs are the core part of the assignment. This is where a student is supposed to provide strong argumentation and evidence to the key points described in the work. The paper requires a considerable writing style, which appears to be the main challenge or writers. How to start an argumentative essay? A good thing about the paper is that students can generally choose a topic they like unless the instructor assigns it. Try to choose a topic you are good at. It is the only way to write something solid. You are supposed to be an expert or at least show off your expertise making readers believe that you are an expert. To achieve this, you need to do the following: Step 1 – Make a plan Having a clear plan or outline is the basis for the paper. The writing process will be time-consuming and daunting unless you have a clear plan. Try several variants, sketch the outline and choose the best bet. When you work out the plan, you already have a clear understanding of what to write about and in what way. Step 2 – Handle the creative block The creative crisis is a common issue for many amateur and immature writers. You will obviously face creative problems especially if you write this type of paper for the first time. Do not overload your brain with difficult objectives. Try to think clearly or simply have a rest not to be overwhelmed with the task. Keep your mind clear; make notes of everything that may come in handy. Step 3 – Benefit from critical thinking Once you are done with the plan and ready to write, it is high time we used critical thinking. Check all your notes and try to organize the key ideas bringing them to one place featuring logical connections. Make sure you stick to the plan. Add proofs and argumentations in accordance with the outlines. Step 4 – Revise the paper The major part of your writing work is done! Good for you! Now you need to make sure that the content is flawless from grammar and writing style perspectives. You need to edit and proofread the paper.   Double-check the text to make you feel safe. The slightest mistake will doom your work to failure. Step 5 – Let friends read your paper You’ve done a great job! A good idea is to ask your friends or relatives to read the essay and share their opinion. They can notice some mistakes or misconnections as well. Checking and editing are never enough when it comes to delivering high-quality argumentative essays.

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

Analysis poem - Essay Example The first two sentences of the poem represent the poet’s opinion of love and friendship. â€Å"Love is like the wild rose-briar; / Friendship like the holly-tree† (1-2). The poet uses two similes to describe it love and friendship in a more lively and specific way. The beauty of love is described through the rose-briar and friendship is compared with the holly-tree. (The definition of rose-briar, according to Oxford Dictionary, is a wild bush with thorns, especially a wild rose bush). Bronte thinks love is represented as â€Å"wild rose-briar† (1). This kind of plant is considered to have a beautiful and charming blossom, but its beauty is temporary, unstable and dangerous. (The definition of holly, according to Oxford Dictionary, is â€Å"A widely distributed evergreen shrub, typically having prickly dark green leaves, small white flowers, and red berries†.) Bronte uses a good simile to represent friendship. The holly-tree’s leaves never wilt and i t could signify the characteristic of friendship. It shows that that friendship can be forever and I believe the same A good friend may be an ordinary and inconspicuous person, but is a person who we can rely on and trust in any situation. The relationship between love and friendship could be two parallel lines or two intersecting lines. The poem says â€Å"The holly is dark when the rose-briar blooms. / But which will bloom most constantly? † (3-4). These two sentences make people to think about which one of the two might be constant. In my opinion, I cannot say definitely whether it is love or friendship that is constant because people are changeable. In addition, there are also many external factors that affect people’s relationships. People could change their minds due to some specific reasons or specific environmental factors. For example, friends or lovers go to different