(a) How successful have the American Government and the U.S. Federal Essay - 1

(a) How successful have the American Government and the U.S. Federal Reserve been in running the American economy over the last - Essay Example Two years later, the economy is improving but remains volatile (Anderson, 2008). This paper identifies self correcting mechanism within the economy that could help stabilize the economy. Moreover, this paper describes fiscal policy that can be used by the government to help mitigate the impact of the recession. The middle class continues to shrink as the gap between the rich and the poor continues to widen. These are all signs of a recessive gap in the economy (Anderson, 2008). Although the U.S. economy has bounced back, it has yet to reach equilibrium and still runs on a large budget deficit. This paper will analyze key market indicators before identifying if the response by the American Government and the Federal Reserve was sufficient. The first key indicator of the economy is the consumer price index. The CPI is a measure in the changes of price levels of consumer goods and services purchased per capita (Zeleny, 2011). The CPI measure the prices of the market basket of goods that are most sold and utilized by consumers. The graph below is an illustration of the 2011 Consumer Price index from the Bureau of Labor Statistics. On average, this graph indicates that prices rose across the board. This could be an indicator of increasing interest rates. When the dollar is devalued, businesses tend to increase their prices. This graph specifically focuses on the major foods and beverages which are a part of the primary market basket items. While prices have risen for the most part, the efforts taken by the government and the Federal Reserve have softened the impact of the recession (Anderson, 2008). In terms of the economy, Adam Smith proposed the theory of the â€Å"invisible hand in his work entitled â€Å"The Wealth of Nations†. In this book, Smith proposed that a capitalist economy is guided by an invisible hand that self corrects for both inflationary and recessionary gaps (Hodgson, 2007). Specifically, a recessionary gap indicates that all available re sources are not being utilized. That is to say that the economy is operating below its most optimal level and is consequentially inefficient. In order to correct for this, the short-term aggregate supply curve must move to the right gradually towards equilibrium because of the underutilization of labor. This means that unemployment rates are higher than the actual percentage. The consequence of this is that the cost of labor is driven down, which increases access to employment. If the government deems it necessary to intervene in the economy then they are likely to utilize fiscal policy to correct recessionary gaps. Fiscal policy is primarily accessed through the use of taxation and government spending. The government can increase the amount of disposable income for individuals by decreasing taxes. This in turn increases consumer spending which is a factor in calculating the GDP. If consumers are able to consume more, that means that producers are able to sell more goods which could in turn lead to the creation of more jobs. Another action the government can take is the increase of transfer payments. Individuals receiving transfer payments will have more disposable income which means they will consume more goods (Hodgson, 2007). Business confidence is another factor indicating that the economy is showing signs of survival. A program that was recently implement was Cash for

Student Veteran Essay Example for Free

Student Veteran Essay No matter who you are, where you’re from, what your job, and how old are you, every single person in the universe has the right to persuade the education as they wish. As the war of Iraq ended and budget cutting for military spending, thousands of newly discharged soldiers are thinking about what to do next. Most of the soldiers, Marines, Airmen, and Sailors joined the military before their 21st birthday, and it’s often the only job they’ve ever held. So, most of them are deciding to go back to school for their education. In the article of â€Å"The veterans are coming! The veterans are coming! † by Edward F. Palm, he states that It is good to know that after the soldiers come from war some of the veterans are ready for a post-secondary education. Palm gives advice to teachers and staff from college and universities on how to treat veterans on campuses. Edward Palm uses personal stories and gives some advice that helps veterans feel confident when they go back to school; also, Palm makes readers believe his credibility by employing pathos and ethos appeal combined with friendly and proud tone that creates and affective argument. After reading â€Å"The veterans are coming! The veterans are coming! †, I agreed  that student veteran in the college is feeling very alone on the campus. We should have treated them with respect and normal like any other students, and college and university should have educated students how to treat with Veteran student. Student veteran in the college can be very autistic. When the service member is discharged from the military, they feel the separation and disorientation with the society. It is because they just spent the last several years inextricably tied to military type of social system, whether it was a brigade, battalion, company, platoon, squad, team, or just one on one with a  battle buddy. During those years, solitude was rare. Now, suddenly they’re no longer attached to those systems, and the feeling of vulnerability can be terrifying. The loss of friendships, purpose, identity, structure, and income is enough to push most people to their limits. Now they are in the college society, which is completely different social system that bears no resemblance to military and command free society. Moreover, student veterans are also older and more experienced than their freshman peers, which helps them keep things in perspective and not sweat the small stuff. They can, and  do, manage huge amounts of pain, both physical and mental, without complaint. But consequently, they also bristle at trivial matters called â€Å"crises† by others, and scorn the frequent self-absorption of their peers. They often see most civilian students as not emotionally strong enough to be their friends. So, they usually isolate themselves in school. Additionally, we need to treat student veterans with respect and normal like any other students on the campus. We need to put a lot of patients to communicate with student veteran. I have a personal experience with the student veteran when I took my chemistry class two years  ago. He is one of my classmates in chemistry class. He is a return solider from Afghanistan, when President Obama ended the Afghanistan war in 2008. He lost the ability of hearing in the war. My first impression of him thought that he is only one the disable students on campus. I can feel he is so shy, fear and low self-esteem around the class because I saw him, he is setting at the corner with his deaf interpreter. I thought his low self-esteem is only coming from his disabilities, but I never anticipated that he is one of the return solider. Then, in the first day of the  chemistry laboratory, we need to choose the group to do all the experiment together for the whole semester. Most of the students have their own group with their friends, but I did not any friends because I am a college freshman. So, I formed a group with him and another college freshman. We really have not talked for a few weeks, even we try to discuss about the experiment because he is too shy around other students and also we cannot communicate orally. So, I found the way to communicate with him by writing, and he started comfortable around the group, and we become a good friend. After a few weeks, he told me that he does not want to do the experiment on the creating flame color and told me he has anxiety on the fire because he saw his battle buddy burn alive to dead in the war. Since then, he has been diagnosed with Post- Traumatic Stress Disorder. So, we discussed on his situation with the professor and made him out of the experiment. It make remember what Palm said â€Å"when it comes to what they did in the war, don’t ask; wait for them to decide if and when they want to tell. The experience of combat is largely ineffable. It  cannot be adequately expressed or shared with people who have not experienced it, and most who have are conflicted about it. If they do choose to share, do not judge. † (Palm 793). I did not ask how he loses his hearing even when we are start talking. But I believe it will not be a happy story behind it. So, I did not ask how about it and even when he told his story I choose not to judge or comment on his tragedy event. Therefore, the student veteran can be really scared and unconfident in the campus because they are really emotionally sensitive about their tragedy that happened in the warzone. But if we treat them normally, patiently and connecting them can effectively ease the social isolation, they will feel very comfortable around other students in the campus. Finally, I think the college and university should acknowledge the students how to communicate with student veteran. I think there are a few questions not to ask the student veteran and not to thank to a student veteran for not knowing their services. The question that we should never ask to student veteran are â€Å"These wars were atrocities and a waste of human life,† â€Å"I don’t get why you’re having so much trouble—you volunteered, right? † And worst of all, â€Å"Did you kill anyone? † These comments do more than upset veterans; they wound the hearts of men and women who are already overburdened with sorrow. Most students cannot image about how the warzone look like. They will very curious and will ask the questions that hurtful to a student veteran. For this reason, I think the college and university should acknowledge students to prevent a student from saying something hurtful and explain how these comments might be hurtful. Then, we should not never thank to the veteran. In the article, Palm stated that  Ã¢â‚¬Å"To thank a veteran you don’t know for his or her service is to put that veteran on the spot. It assumes an ideological and political kinship that may or may not exist. I know it makes me uncomfortable. Keep in mind as well that some will doubt your sincerity, wondering if what you’re really saying is, I’m glad you went so that I [or my son or daughter] didn’t have to go. (Palm 793). By say thank you to student veteran will make them think that you, your son or daughter can living safety in the country because they are going to war for you and your son or daughter. It  will make them feel that they are going to die for you. In conclusion, students veteran on campus are usually isolated themselves with the college society. But if we have enough patient and normal treat as other college peers, and teach other students the way to communicate with them, they will blend to the college society. Work Cited Edward F. Palm. â€Å"The Veterans Are Coming! The Veterans Are Coming! † Everything’s an Argument with Reading. 6th Ed. Andrea A. Lunsford, John J. Ruszkiewicz and Keith Walters. Boston, New York Bedford/ St. Marthin’s 2013. 788-794. Print.

Humorous Wedding Speech by Friend of Groom :: Wedding Toasts Roasts Speeches

Humorous Wedding Speech by Friend of Groom Ladies and gentlemen, thanks Gary for those kind words. It has been a pleasure for all us attendants to play a small part in your big day. Before I say a word or two about the groom, what about that dress Jeanie is wearing? It has attracted so much favorable comment from the guests here that I have to give it a special mention. You look stunning Jeanie! When Gary asked me to be his best man I immediately thought of the speech. I saw it as an opportunity to talk about a great hero of mine†¦ a wonderful, handsome, kind-hearted man who is admired by many. But then I showed it to my wife and she ripped it up saying, ‘For once in your life Jason, talk about someone other than yourself!’ But unlike many of the best men you’ve probably encountered over the years – who were either old school friends or childhood friends of the groom – Gary and I actually met about six years ago. So not knowing an awful lot about his past, I made enquiries – at his local police station. I thought that would be a good place to start digging for dirt. But they had nothing to say†¦ except that he was the perfect guest whenever he stayed over. Next, I sought advice from his parents as to what he was like. ‘A model son driven by the ambition to succeed,’ was the answer from his mum. ‘A gentleman, a scholar and a sportsman,’ said his dad. Now, I know what you're all thinking - is this the same Gary? Well, all of this was indeed contradicted by his brother Stewart, who informed me that as a child, Gary was cheeky, naughty and the loudest kid on the estate. And as you may have judged from his earlier speech, not a lot has changed. To get a different perspective on the star of the day I contacted Gary’s school friends. Unfortunately, none of them volunteered any information – except one, who said his nickname ‘PlayByYourselfGary’ should provide some indication of his popularity with the other pupils. In the end I visited his old school to speak to some of his former teachers in the hope they could provide me with an amusing story to tell. The first person I got hold of was his math’s teacher of five years.

Personal Narrative- Ridicule of a Child :: Personal Narrative Essays

Personal Narrative- Ridicule of a Child â€Å"Why do you ask?... Well, she’s weird.... For instance, she wears black outfits that cling to her body with red spandex.... No I’m serious. Her hair is half black and half blonde, too.... The other day she was walking down the hall with a red feathered boa wrapped around her neck.. .. Yeah, I see her every day sifting by herself in a corner all the time. . . . I guess you can’t blame her. What did happen to her when she was little?† â€Å"Oooonnnncccceeee I was at hhhhoooommmmeeee, and I ssssaaaawwww...† We despised the way her heart-shaped lips gawked open as she slurred her words. Mary Beth sounded like a lost, bleating lamb. She was the most entertaining character to imitate when my friends and I were at slumber parties. We all perfected the rhythmic pattern of her speech. And then there was her appearance. Mary Beth’s gangly body towered over the other fourth graders, and her lemon-blonde hair rested on her shoulders in knotted clumps. Strands of hair constantly fell in front of her face, and she would constantly sculpt them behind her ear. Every day she came dressed for school in brilliant colored leggings partially covered by a relaxed sweatshirt unevenly rolled at the sleeves. Her plump belly took shape under her shirts, creasing slightly, like a curtain conforming to its width. Her feet plowed into her white Keds and snuggled inside fluorescent socks scrunched at the ankle. Mary Beth’s Keds curved toward each other as she stepped, and it was evident she was pigeon-toed. (This was another characteristic we loved to imitate.) I saw her ferociously sprint during gym and on our Field Day. It was dreadful. Her leg stampeded into each other in an effort to run straight. Her arms flung back and forth anxiously like an ape’s, and I could see her tongue sticking out of her crooked mouth in determination. She was hopeless. Autumn was approaching, and so was Mary Beth’s birthday party. Incredibly, all the girls invited, including me, showed up. We even brought presents, the ones our moms had carefully picked out in consideration. We were too reluctant and far too busy with our own lives to shop for a person we mocked. The arrival of girls seemed unrealistic until I discovered why they had come. It was a party, who wouldn’t show up?

Rabindranath Tagore Story & Poem Essay

A Nandalal Bose illustration for â€Å"The Hero†, part of the 1913 Macmillan release of The Crescent MoonThe â€Å"Sadhana† period, 1891–1895, was among Tagore’s most fecund, yielding more than half the stories contained in the three-volume Galpaguchchha, itself a group of eighty-four stories. [18] They reflect upon Tagore’s surroundings, on modern and fashionable ideas, and on mind puzzles. Tagore associated his earliest stories, such as those of the â€Å"Sadhana† period, with an exuberance of vitality and spontaneity; these traits were cultivated by zamindar Tagore’s life in villages such as Patisar, Shajadpur, and Shilaida. Seeing the common and the poor, he examined their lives with a depth and feeling singular in Indian literature up to that point. [79] In â€Å"The Fruitseller from Kabul†, Tagore speaks in first person as a town-dweller and novelist who chances upon the Afghani seller. He channels the longing of those trapped in mundane, hardscrabble Indian urban life, giving play to dreams of a different existence in the distant and wild mountains: â€Å"There were autumn mornings, the time of year when kings of old went forth to conquest; and I, never stirring from my little corner in Calcutta, would let my mind wander over the whole world. At the very name of another country, my heart would go out to it †¦ I would fall to weaving a network of dreams: the mountains, the glens, the forest †¦. â€Å". [80] Many of the other Galpaguchchha stories were written in Tagore’s Sabuj Patra period (1914–1917; also named for one of Tagore’s magazines). [18] A 1913 illustration by Asit Kumar Haldar for â€Å"The Beginning†, a prose-poem in The Crescent MoonTagore’s Golpoguchchho (Bunch of Stories) remains among Bengali literature’s most popular fictional works, providing subject matter for many successful films and theatrical plays. Satyajit Ray’s film Charulata was based upon Tagore’s controversial novella, Nastanirh (The Broken Nest). In Atithi (also made into a film), the young Brahmin boy Tarapada shares a boat ride with a village zamindar. The boy reveals that he has run away from home, only to wander around ever since. Taking pity, the zamindar adopts him and ultimately arranges his marriage to the zamindar’s own daughter. However, the night before the wedding, Tarapada runs off—again. Strir Patra (The Letter from the Wife) is among Bengali literature’s earliest depictions of the bold emancipation of women. The heroine Mrinal, the wife of a typical patriarchical Bengali middle class man, writes a letter while she is travelling (which constitutes the whole story). It details the pettiness of her life and struggles; she finally declares that she will not return to her husband’s home with the statement Amio bachbo. Ei bachlum: â€Å"And I shall live. Here, I live†. Haimanti assails Hindu marriage and the dismal lifelessness of married Bengali women, hypocrisies plaguing the Indian middle classes, and how Haimanti, a sensitive young woman, must—due to her sensitiveness and free spirit—sacrifice her life. In the last passage, Tagore directly attacks the Hindu custom of glorifying Sita’s attempted self-immolation as a means of appeasing her husband Rama’s doubts. Musalmani Didi examines Hindu-Muslim tensions and, in many ways, embodies the essence of Tagore’s humanism. Darpaharan exhibits Tagore’s self-consciousness, describing a fey young man harboring literary ambitions. Though he loves his wife, he wishes to stifle her own literary career, deeming it unfeminine. Tagore himself, in his youth, seems to have harbored similar ideas about women. Darpaharan depicts the final humbling of the man as he acknowledges his wife’s talents. As do many other Tagore stories, Jibito o Mrito equips Bengalis with a ubiquitous epigram: Kadombini moriya proman korilo she more nai—†Kadombini died, thereby proving that she hadn’t†.

Ancient Rome Essays - Animal-powered Vehicles, Chariots, Bronze Age

Ancient Rome Essays - Animal-powered Vehicles, Chariots, Bronze Age Ancient Rome Roman games were much like Greek games, but there was more physical contact sports such as Gladiator combats, man against beast, and water battles. Chariot races were the same as the Greek chariot races. Rome had many different types of chariots. Biage were chariots pulled by two horses, and quadrigae chariots were pulled by four horses. Each race had 12 chariots going on one track at once. The racers would take 7 laps around the arena which would be a total of 5 miles long. Teams of four chariots would be either red, blue, green, or red in the chariot racing. Gladiators combat was where two men fought until one was dead. The gladiators would be armed with a weapon to make the battle more interesting. The gladiators were usually slaves or captives. Rich people would pay gladiators to go to school that taught them to fight. Many gladiators had armor mostly on their arm area or their legs. Some gladiators didn?t have any armor but just a weapon and a shield. Some times they would flood the arena with water and have battles with ships. Alligators would be in the water so that when a gladiator fell off he would get eaten by the alligator. Another reason why the arena would be flooded was because they would face crocodiles as well. Man against beast battle was when one man fights with a snake, a deer, a lion, a bear, or even an elephant. Roman Ball was more of a recreational sport. The rules as described by W.J.Kowalski on the Internet is : ?There were 2 concentric circles on the ground, 5 feet and 20 feet in diameter. Players ( 3 or more ) stand or run anywhere outside the large circle. The ball must bounce in the inner circle and pass beyond the outer circle. If the ball is not caught and hits the ground, the thrower gets a point. The player who catches or retrieves the ball throws it next. The first player to get 21 points wins. The player with the ball may run around the circle and try to catch his opponents out of position. The player who catches or retrieves the ball may return to the circle quickly and he becomes the thrower. The first throw may be taken by anyone, and should be thrown standing still. The game begins on the second throw. If the ball goes pass the outer circle the throw should be replayed.? Children and adults could play this game and it was very popular. They called the ! game ball or ball-playing. Towards the decline of the Roman empire, the Romans became good at archery and even kings began to enjoy it, but sometimes they were cruel. The story goes, that the Emperor Commodus shot ostriches with a special arrow and at gladiator combats, he sat in his royal box with a bow and arrow. From there he watched men being chased by wild animals, like lions, and leopards, and just when the animal was about to jump on the gladiator he shot his arrow and killed it. To him, this was a sport. Page 1 Ancient Greece There were many sports in Greece such as foot racing, chariot racing, boxing, horse racing, racing, wrestling, javelin & discus, and the long jump. There were three different types of foot racing. The first was the long race or as they called it, a Dolichos. The runners would have to run two laps around a stadium. The second race was a stade race which was a sprint six-hundred foot sprint down the stadium. The third race was called the double stade race or Diaulos. It was the same as the stade race but was twice as long. Instead of six-hundred feet it would double to one-thousand two-hundred feet which was two times the length of the stadium. Chariot races were held in a Hippodrome which was an open, large, flat, rectangular shaped arena. The chariots were moved up to an aphesis or the starting gate. After the announcer announces all the competitors and the trumpeters signal the start, the chariots go off. They race real fast but collisions would rarely happen. The Greeks took chariot racing seriously such as in the

5 Practical Tips for Better Essays

5 Practical Tips for Better Essays How to Improve Essay Writing Skills Many students face difficulties when dealing with their writing assignments. Alongside, they find it challenging to create a better essay than a previous one. The deal is that when you are writing essays regularly, create a set of rules or some kind of formula for all your next papers. So, how is it possible to improve essay writing skills? How to create not good but brilliant paper? Get to know 5 useful and practical skills for better essays. They will surely help you to complete papers and impress everybody. Read the Essays Written by Other People It seems to be a pretty good idea. Do you know why? Reading different books written by prominent authors can influence your writing style greatly, can`t it? The same is about reading other people`s essays. You will analyze what you like or dislike concerning this or that essay, and keep in mind what is good to use in your own paper. It would be great for you to have some time to read essays written by your peers, fellow-students and academics. Read different types of essays and of different learning areas, not necessarily only that one you are involved in. The broader your outlook is, the better your essay is. However, keep in mind that these essays should be like etalons or valuable examples for you to follow. Try to be critical and evaluate everything written there. Also, you can find pretty good essay examples in the broadsheet newspapers. It would be interesting for you to see how writers supported their ideas, provided arguments etc. All essays you are reading should be of the top-quality and balanced. The main goal of all this is to take the best that writers used and to learn some useful techniques which will help while writing an essay of your own. Build Your Vocabulary and Learn How to Use It Properly This will help you to develop a skill of expressing own thoughts clearly and concisely. A good essay is characterized by proper word choice and its economy as well. Readers prefer to read a condensed information expressed clearly rather than long and rambling points of view. If you to want to become a confident writer and impress everybody with your talking extremely to the point, you should always work on your advanced vocabulary enrichment. Of course, there are always a lot of new words to learn, and they surely help to convey a proper meaning accurately. It also enables you to be more persuasive in your essays. Ways to enrich your vocabulary: Subscribe to a ‘word a day’ email. You will get a new word each day, so create a separate folder in your inbox and put all messages with new words there. It will help you learn new words, have them all together and use them whenever possible. Read more. If you are reading, you are facing some new words. Don’t hesitate to look up those words in the dictionary. By doing this you will not only learn new words, you will also know how to use them in relation to the context. Reading different articles and books will not only add to your general knowledge level but widen your vocabulary as well. Learn prefixes, suffixes and roots. It may seem a little boring but you will benefit from this in a lot of ways. This will help you to learn a great number of new words and build them up. Create a vocabulary book. It is a usual thing for those studying a foreign language. So, why don’t you start a vocabulary book of your native tongue? Buy a notepad and put down there some new words with their definitions.   The process of writing everything down will increase your chances to memorize those words. It is also a good idea to divide all your vocabulary into sections, for example, words related to history, science etc. Make Up Your Mind Before Writing You are always told a plan and essay outline before writing. That really works. However, even before planning something, you need to know what argument and point of view you are going to discuss. Having come up with key ideas, you can build a plan for your essay right from the introduction to the conclusion. Try to make a short summary of what you intend to write in your essay, why it should make the readers interested and what are the goals of your assignment. Provide Opinions of Other People An essay is a good way to show how intelligent you are. So, do not miss the opportunity to quote some famous people and original sources concerning the topic you are working with. It is possible that you do not agree with this or that saying. So, do not hesitate to express your point of view. Different views and discussions show that you are able to perceive and analyze the information. In order to be well-prepared, create a separate page in your notebook for each subject you are studying, and write down there all prominent personalities, alongside with their achievements. It will be a quick way to refer in case of necessity. However, you shouldn’t quote too much. Don’t forget to express your point of view more. Don’t make the readers think that you are using other people`s sayings just to avoid providing your own thoughts. Grammar, Syntax and Punctuation You may not pay too much attention to these points while writing. However, these things do influence the whole picture of the essay you are writing. Actually, sentence structures show on your intelligence level. You know that the most important task is to write your essay properly and make it readable and understandable for readers. It is good to use sentences of different types and lengths. However, do not make them too long. Readers can lose their understanding, while they don’t need to read a sentence twice to grasp the meaning. Effective and accurate punctuation is also important here. If speaking about the tone of voice, it all depends on the essay type and your teachers` specifications. You can write your essay either in Passive or Active Voice. So, before start working on your paper, always check the requirements. Hope these tips were quite useful for your and they will help you to create only better essays all the time. Keep on trying!

Taking Action on Earth Day

Taking Action on Earth Day Every year, people all around the world come together to celebrate Earth Day. This annual event is marked by lots of different activities,  from parades to festivals to film festivals to running races. Earth Day events typically have one theme in common: the desire to show support for environmental issues and teach future generations about the need to protect our planet. The First Earth Day The very first Earth Day was celebrated on April 22, 1970. The event, which some consider to be the birth of the environmental movement, was founded by United States Senator Gaylord Nelson. Nelson chose the April date to coincide with spring while avoiding most spring break and final exams. He hoped to appeal to college and university students for what he planned as a day of environmental learning and activism. The Wisconsin Senator decided to create an Earth Day after witnessing the damage caused in  1969 by a massive oil spill in Santa Barbara, California. Inspired by the student anti-war movement, Nelson hoped that he could tap into the energy on school campuses to get kids to take notice of issues such as air and water pollution,  and put  environmental issues onto the national political agenda. Interestingly, Nelson had tried to put the environment on the agenda within Congress from the moment he was elected to office in 1963. But he as repeatedly told that Americans were not concerned about environmental issues. So Nelson went straight to the American people, focusing his attention on college students.   Participants from 2,000 colleges and universities, roughly 10,000 primary and secondary schools and hundreds of communities across the United States got together in their local  communities  to mark the occasion of the very first Earth Day. The event was billed as a teach-in, and event organizers focused on peaceful demonstrations that supported the environmental movement. Almost 20 million Americans filled the streets of their local communities on that first Earth Day,  demonstrating  in  support of environmental issues in rallies large and small all across the country. Events focused on  pollution, the dangers of pesticides, oil spill damage, the loss of wilderness, and the extinction of wildlife. Impacts of Earth Day The first Earth Day led to the creation of the United States Environmental Protection Agency and the passage of the  Clean Air,  Clean Water, and  Endangered Species  acts. It was a gamble, Gaylord later recalled, but it worked. Earth Day is now observed in 192 countries, and celebrated by billions of people around the world. Official Earth Day activities are coordinated by the nonprofit, Earth Day Network, which is  chaired by the first Earth Day 1970 organizer, Denis Hayes. Over the years, Earth Day has grown from localized grassroots efforts to a  sophisticated network of environmental activism. Events can be found everywhere from tree planting  activities  at your local park to  online Twitter parties that share information about environmental issues. In 2011,  28 million trees were planted in Afghanistan by the Earth Day Network as part of their Plant Trees Not Bombs campaign. In 2012, more than 100,000 people rode bikes in  Beijing to raise awareness about climate change and help people learn what they could do to protect the planet. How can you get involved? The  possibilities  are endless.  Pick up trash in your neighborhood. Go to an Earth Day festival. Make a commitment to reduce your food waste or electricity use. Organize an event in your community. Plant a tree. Plant a garden. Help to organize a community garden. Visit a national park. Talk to your friends and family about environmental issues such as climate change, pesticide use, and pollution.   The best part? You dont need to wait until April 22 to celebrate Earth Day. Make every day Earth Day and help to make this planet a healthy place for all of us to enjoy.

SABIC Company Audits Essay Example | Topics and Well Written Essays - 1250 words

SABIC Company Audits - Essay Example Many businesses have succeeded based on their historical perspective. From the case, it is determined that the business has been in operation for the past 39 years (SABIC, 2014). This is life stable enough to determine that it has a status in the economy of Saudi Arabia. Apart from time, the company has historically been supported under the focus of the king of the country. According to Doole & Lowe (2008), history has a strong bearing on the success of a company in the market. This is especially prevalent in societies that are relatively conservative. The Saudi Arabian society is incredibly much of a conservative society and there are norms that determine the consumption patterns in the country. Being largely Muslim, most of the laws and legislation on trade are bound to be based on sharia laws. History of existence in market serves a lot of functions to a company (Peng, 2013). First, the company develops the experience of the market and makes it possible to understanding changing t rends from time to time. SABIC Company deals in a collection of products; chemicals, fertilizers, plastics, and metals. It is a size that determines the market success factors because there is a focus on expansion programmes. The company is owned by the government (70%) and the private individuals (30%). History has therefore helped it to know and understand its customers, the market, the need for expansion and the challenges that it is likely to face when in any other country apart from Saudi Arabia. Historical context has enabled the company to understand its customers, the purchase context, the feelings in the market and strategies that help develop a business from one level to another. The insights to the success of SABIC are based on the achievements from the time it was formed to date. Over time, the company has grown and it is now the largest companies in the specified areas of operation.

Management discussion and analysis of McDonald Company (MD&A) Essay

Management discussion and analysis of McDonald Company (MD&A) - Essay Example McDonald Company is a US based company and has branches worldwide. The company has opened several branches in order to reach out to an ever growing number of customers in other countries. The company aims in opening the branches are to achieve long-term goals, which are maximization of profits and competitiveness in the market (Connolly, 2007 P. 109). When the company has several branches, it is at a better stage of producing products at low cost of production and, therefore, maximizing their profits. In addition, opening several outlets means that other companies will not imitate the company’s product and implement them in their own countries. This enables the company to stay relevant in the market since their products will be unique due to lack of competition. Reference Connolly, B. M. (2007). International Business Finance. New York, NY: Taylor & Francis Fried, G., Shapiro, J. S. & DeSchriver, T. (2008). Sport Finance-2nd Edition. New York, NY: Human Kinetics. Question 2 I choose to take an overview of the Management Discussion and Analysis of McDonald Company (MD&A). There are several fascinating things to learn from the company. First, The Company perceives itself as a franchisor and assumes franchising is significant to providing great, locally pertinent client experience as well as driving profitability. Second, McDonald’s revenues include sales by Organization-operated restaurants as well as fees from restaurants managed by franchisees Third, the firm is operated as separate geographic sections.... A, NJ: Pascal Press Question 3 Coast leadership, differentiation, as well as, focus strategies are applicable separately regarding any organization or environment. Any attempt to combine as well as reconciling the three strategies would lead in organizations being stuck along the way. The main reason why the three may not work together is because they differ on various dimensions and brings different requirements. These include resources, industry arrangement, skills, control procedures as well as management method. However, both cost leadership and differentiation strategies are unable to coexist in some firms while reconcilable in other industries. According to various studies done by scholars on manufacturing firms, it is clear that differentiators also engaged variables commonly linked to cost leadership strategy (Brigham et al, 2011 P. 87). Cost leadership strategy on the other side, also showed characteristics normally associated with differentiators. It suggests that there are no pure strategies and that both differentiation, as well as cost leadership, must be taken into consideration. McDonald company is one of American firms that have utilized differentiation strategy. The strategy calls for the creation of both product and service, which offers exclusive attributes, which are treasured by customers. The company learnt that the parent based there purchasing decision mostly on price. The McDonalds marketing executive, therefore, did what was seen as ingenious. They attached a $.50 toy in several of their products including the hamburger, French fries as well as coke. They went ahead, named the product a happy meal, and marketed it to the children. The industry knew that some clients visit its stores only to take a short break from their days work and not

Case study report Example | Topics and Well Written Essays - 3000 words

Report - Case Study Example Today organizations are emerging as diverse workforce in terms of gender race and civilization. Therefore, changes in the organization demographic condition and rapid advancement in technology lead to unresolved disputes in the workplace, which raises the issue of equal employment legislation. By definition, diversity refers to a variety of demographic features describing a company’s workforce, which comprises of race, sex, culture, religion etc. It signifies removing the difference among the people belonging to different cultures, gender, caste etc. In short, managing the diversity maximizes the diversities of company’s demographic characteristics and minimizing the potential barriers in the workforce, which can hamper the company’s growth and performance. By conducting diversity management programs in the organization, managers will be able to provide strong leadership in the diverse workgroup through which they can represent themselves as role models for exemp lifying their pro diversity behaviors and helping each individual in the workgroup to overcome from the different circumstances. Therefore, good management practices will help the organization to attract the best talents from different sources and in this way, the company will be able to save his time and money in recruitment and turnover costs. Today managing the diversity has become a biggest challenge for the organization to manage the generation X, generation Y, and baby boomers. These three generations in the workforce include unique characteristics that make them different from the members of the other workgroup. Therefore, one should care about managing the diversity because it will help the managers to gain the commitment from the employees and developing a better working force. In other way, it will help the organization to create a pleasant and healthy environment in order to attract the new generations and gaining the reputation in the market. For example, Singaporeâ€⠄¢s workforce focuses on creating culture diversity in their workforce by engaging employees from different generations, nationalities, caste etc that develops a sweet and pleasant environment in an organization. Hence, it has proved that managing diversity in the workforce is important because it helps the organization to assess the performance of the employees. In contrast, if the HR is not able to manage the diversity present in teams, the teams overall performance will lead to employee dissatisfaction in the working environment. Therefore, diversity within a team may strengthen the team’s external communication and its ability to interact and coordinate with the other teams (Kepner, Wysocki, Lopez & Green, 2012). Now days, the managers need to understand that mostly women impel the diversity in the organizations. Recruiting single mothers and increasing the participation level of the women will help the organization in building a reputation in the market and improving the quality of working life. While managing the diversity in the workplace managers need to understand that diversity not only indicates employees’ belonging from different nationalities but it is the different individuals who carry with themselves the

Social media for business communication Essay Example | Topics and Well Written Essays - 1750 words

Social media for business communication - Essay Example This year the amount generated on the single day is $816 million becoming the heaviest online sales volume received in a single day (Diers, 2012, p. 23). The overall U.S. retail e-commerce spending for the month has increased by 15 percent. There is greater access to online shopping on Cyber Monday. This is a marketing term developed in 2005 by online retailers that define the increase of online shopping activities on Monday. Approximately 50 million Americans visited online retail sites on a black Friday representing a 35 percent increase from the previous year. The number of customers accessing the top five retail sites namely: Amazon, Walmart, BestBuy, Target, and Apple increased by double digits. This result shows that multichannel retailers recorded strong growth in visitors’ access. The increased use of online retailing has greater marketing implications to marketing principles. The need for change in the marketing strategy to absorb the increasing online visitors is ess ential for any firm because it leads to greater sales volume. The success for any company lately is based on the focus on the customer and commitment to market change. Globalization affects marketing in a drastic way by affecting marketing. Use of World Wide Web in marketing and online shopping is the next revolution. The data obtained for visitors to the online sites depict the success attainable by venturing in it. Consequently, the need for strategizing and formulating of online strategy in ensuring increase in sales volume is essential. Product innovation is powered by the consumers. Therefore, marketing of the products must ensure correct feedback is obtained from consumers to facilitate understanding of new product development. Driven by the need of simplicity, consumers need must be catered for. For instance, online shopping is a product

Timmers Proposed Business Models Essay Example | Topics and Well Written Essays - 6250 words

Timmers Proposed Business Models - Essay Example He gave the definition of a business model as being an architecture for the business, a description of benefits for the business actors and a description of a source of revenues (Timmers, 1998). His business models were e-shop, e-procurement, e-auction, e-mall, third-party marketplace, virtual communities, value-chain service provider, value-chain integrators, collaboration platforms, and information brokerage, trust and other services (Timmers, 1998). The e-shop model was envisioned by Timmers to be the Web marketing of a company or a shop. The Internet portion of this business was marketing. Timmers also stated that the Internet may also be used to order the goods and services, as well as pay for the goods and services. E-procurement is the procurement of goods and services. At that time, large companies and public authorities were the ones procuring in this manner. E-auction is another business model. This is where individuals bid on goods, much like E-Bay. E-mall was envisioned a s an electronic mall, which would consist of e-shops connected by a common umbrella, like a well-known brand. A third-party marketplace is where companies leave the Internet marketing to a third party, such as a marketing event such as e-Christmas. Virtual communities is another business model, which can generate both advertising revenues and membership fees as its income source. Amazon.com was cited as a virtual community by Timmers, as well as communities offering apparel and technology. Value-chain service provider is another e-commerce business model, and this is where a company specializes in a specific part of the value chain, such as electronic payments. Value-chain integrators are business which integrate the value chain. The collaboration platform provides tools and information for collaboration between enterprises. Information brokerage, trust and services are business which add value to the data available on open networks, such as information search, customer profiling, i nvestment advice and the like (Timmers, 1998). Critique of Timmers' Business Models Wirtz et al. integrates some of Timmers' concepts, stating that there are four broad internet business models - content oriented business models, which provide on-line access to content, such as magazines and newspapers on-line; commerce oriented, which offer goods and services on-line; context-oriented, which structures the information found on the web, as opposed to providing content, goods or services; and connection-oriented, which provide the infrastructure which enables the user's participation in online networks (Wirtz et al., 2010, p. 4). Likewise, Tvrkiova and Koubek (2010) integrate the ways that firms may do business and put them into broader categories than did Timmers. They state that electronic business models may be classified as e-business, which means that communication and commerce uses the Internet as the main instrument; e-commerce, in which modern communication technologies are u sed to increase the effectiveness of relationships between companies and consumers; e-marketplace, which is a marketplace, much like an e-mall; e-procurement, which is a business model where business obtain or provide something over the Internet; and e-marketing, where business sell products through a network (Tvrdikova & Koubek, 2010, p. 271). Rao et al. Classifies e-business applications into three major categories. The first category is electronic marketplaces, where goods and services are bought and sold; interorganizational systems, which facilitate the flow of goods, services, communication and collaboration; and customer service, which provide customer service, such as handling complaints and tracking orders (Rao &

Social media for business communication Essay Example | Topics and Well Written Essays - 1750 words

Social media for business communication - Essay Example This year the amount generated on the single day is $816 million becoming the heaviest online sales volume received in a single day (Diers, 2012, p. 23). The overall U.S. retail e-commerce spending for the month has increased by 15 percent. There is greater access to online shopping on Cyber Monday. This is a marketing term developed in 2005 by online retailers that define the increase of online shopping activities on Monday. Approximately 50 million Americans visited online retail sites on a black Friday representing a 35 percent increase from the previous year. The number of customers accessing the top five retail sites namely: Amazon, Walmart, BestBuy, Target, and Apple increased by double digits. This result shows that multichannel retailers recorded strong growth in visitors’ access. The increased use of online retailing has greater marketing implications to marketing principles. The need for change in the marketing strategy to absorb the increasing online visitors is ess ential for any firm because it leads to greater sales volume. The success for any company lately is based on the focus on the customer and commitment to market change. Globalization affects marketing in a drastic way by affecting marketing. Use of World Wide Web in marketing and online shopping is the next revolution. The data obtained for visitors to the online sites depict the success attainable by venturing in it. Consequently, the need for strategizing and formulating of online strategy in ensuring increase in sales volume is essential. Product innovation is powered by the consumers. Therefore, marketing of the products must ensure correct feedback is obtained from consumers to facilitate understanding of new product development. Driven by the need of simplicity, consumers need must be catered for. For instance, online shopping is a product

Donald Lipski Essay Example | Topics and Well Written Essays - 500 words

Donald Lipski - Essay Example The reason he gained fame very rapidly and got recognized by the critics and people was that he brought in unique and different pieces of art and sculpture which attracted a lot of people because of its distinctive and exceptional quality. One of his first installations was the â€Å"Gathering Dust† through which he gained great recognition and applause. After which he continued his work and gained many different awards for his outstanding performance and contribution to art. His beautiful works have been placed in various museums. Recently he has started to focus on large scale 3-dimensional figures which have been placed at different public places to increase and enhance the beauty of different public places, one such example is â€Å"The Yearling† which has been placed outside the Denver Public Library (Turner, 107). Another very famous and a beautiful structure is the Psyche- the Butterfly. It is a beauty in its own self. This beautiful structure has been placed in The Auraria Science Building. This large butterfly is made from glass, metal and resin. This structure has been placed at the junction of the old and the new building. The structure makes use of approximately a total of 10,000 test tubes filled with acrylic. The wings are made to slowly swap by the air conditioning system of the building. The test tubes are filled with different colored material and when they swap they cast beautiful colored shadows on the people moving below the structure. The beauty of this amazing butterfly cannot be mentioned and cannot be explained by words. It is just an awe-strucking piece of art. People who view this beauty cannot resist themselves from looking at it again and again and pondering over its magnificence and beauty (Turner, 105). Donald has made other beautiful structures but this great piece of art has not been replaced by any other piece of art yet. This beautiful butterfly is an

Marketing Packaging and Labeling Essay Example for Free

Marketing Packaging and Labeling Essay Packaging and Labeling What you’ll learn . . . †¢ The principal functions of product packaging †¢ The main functions of labels Packaging †¢ The physical container or wrapping for a product. Functions of Packaging †¢ Promoting and Selling the Product Functions of Packaging †¢ Defining Product Identity – invokes prestige, convenience, or status Functions of Packaging †¢ Provides Information – UPC symbols, contents, guarantees, nutritional value, potential hazards Functions of Packaging †¢ Meeting Customer Needs – various sizes, snack kits, etc. Functions of Packaging †¢ Ensuring Safe Use – plastic instead of glass, tamperresistant packaging, blisterpacks, childproof containers To read about the Tylenol murders in 1982, and the resulting invention of the tamperproof package, click on the Tylenol box above. Functions of Packaging †¢ Protecting the Product – during shipping, storage, and display. Protects food from spoilage. Helps prevent shoplifting Contemporary Packaging Issues †¢ Aseptic Packaging – Incorporates a technology that keeps foods fresh without refrigeration for extended periods Contemporary Packaging Issues †¢ Environmental Packaging – reusable, recyclable, less wasteful, and safer for the environment Contemporary Packaging Issues †¢ Cause Packaging – to promote non-product issues such as social and political causes Ex: Body Shop, Ben Jerry’s Click on the ice cream carton to learn about cause packaging at Ben and Jerry’s Labeling †¢ A label is an information tag, wrapper, seal, or imprinted message attached to a product A labels main function is to inform about contents and give directions Brand Label – gives the brand name, etc. Descriptive Label †¢ Information about product use, care, other features Grade Label †¢ States the quality – AA, A, B Labeling Laws †¢ Many package labels must meet local, state, and federal standards †¢ FDA – Federal Food and Drug Administration – requires nutritional info, regulates health claims and defines descriptive terms such as â€Å"light,† â€Å"free,† â€Å"low,† and â€Å"reduced† to make them consistent on all products †¢ FTC – Federal Trade Commission – monitors for deceptive advertising that is false or misleading, including guidelines for environmental claims like â€Å"recycled† or â€Å"biodegradable.†

Mcdonalds And Its Strategic Management Commerce Essay

Mcdonalds And Its Strategic Management Commerce Essay The vision and mission of the organization defines the expected position and the fundamental purpose of the organization. The purpose of this assignment is to understand the vision and mission of the case company and to identify and understand the strategic aims and objectives of an organization and investigate its progress towards the fulfillment of those aims and objectives. For this different alternative strategies available to the organization are also considered. To fulfill the requirement of this assignment the organization selected for investigation is McDonalds. McDonalds is the leading fast food restaurant chain of the world and is serving more than 58 million customers on daily basis. McDonalds Vision and Mission Statement Every organization must have a vision and a mission. Vision and mission statements are the short phrases which sets the whole direction of the organization. Vision statement provides the whole picture of the organizations desired future position in a single phrase. This statement then sets a whole direction of all the strategic aims and objectives of the organization. Below is the vision statement of the case company i.e. McDonalds: To be the worlds best quick service restaurant experience, being the best means providing outstanding quality, service, cleanliness, and value, so that we make every customer in every restaurant smile Mission statement clarifies the fundamental purpose of the organization. Off course the purpose is to achieve the vision of the organization, but mission statement goes in further detail and answers the question of the existence of the organization. Mission statement of McDonalds is: To be the best employer To deliver operational excellence Achieving durable profits Expanding the brand name and extending the strength of McDonalds system through innovation and technology. Analyzing the vision and mission statement of the case company it is clear that organizations focus is mainly towards the external and internal customers i.e. consumers and employees. Furthermore, the company is committed to innovate and use the latest technology to earn huge profits. McDonalds Strategic Aims and Objectives An aim is a broader statement which tells what an organization wants to become and the objectives are the specific targets or tasks which leads towards the fulfillment of the aim of the organization. It is very important for an organization to set such aims which are practically possible and which can be measured. If this is not the case the organization will put its efforts and resources in that direction which is not possible at all. For effective working and success for an organization the aims and objectives must be realistic and it must also be associated with some time frame as if it is not the case then there will be confusion within the organization regarding the time to complete the tasks and projects (Fred David, 2006). Furthermore, the aims should be measureable, as the progress towards the fulfillment of objectives should be easily measured as if this is not the case then it would be very difficult for an organization to know that whether the desired results are achieved or not. McDonalds key to success all over the world is their priorities, which are also mentioned on their corporate website. The top priority of the leading fast food restaurant chain is the customers. As per the McDonalds corporate values the reason of the existence of the business are their customers and they work only to fulfill the needs and demands of the customers. As per the company it is not the matter of sales rather it is the matter of providing quality products along with the best services to the customers in affordable prices. The second priority is their employees or workforce. The company believes that the employees make the dream of the organization come true. The employees are their valuable assets and it is just because of the skills and competencies of their employees which enables the organization to achieve the set goals and targets. The company also believes the quality of their business model. According to the corporate values of the company the business model is set to meet the dynamic customer behavioral changes. The strategic aims and objectives of McDonalds and mentioned below and these shows that what are the top priorities of the company and it gives a hint why the company is so successful all across the globe: To maintain the leadership in fast food restaurant industry To serve the customer with good food in a friendly and fun environment Providing the quality food and value of money to the customer Providing the shareholder a positive return on their investments To meet the social and ethical responsibility Strategic Plan and its Component parts Strategic plan of any enterprise is a picture of the desired position of the organization. Strategic plan gives a root path that how the organization will achieve the desired place or position in the given industry (Maches, B. 2010). Three major components of strategic plan include formulation, implementation and evaluation of strategy carries that information and plan which provides a direction towards the organizational objectives (Kim Warren, 2008). Strategy Formulation Strategy formulation process starts with the situation analysis of the organization. Situation analysis is an important part of strategic plan as it gives an overview of the existing position of the organization. Situation analysis includes the analysis of internal and external environment of the organization. Different strategic tools can be used to evaluate this situation i.e. SWOT analysis, PEST Analysis etc. This also includes the evaluation of current mission and vision of the organization. Vision statement clarifies that what an organization want to become and on the other hand mission statements shows that what business the organization operates. Mission contains the products and services, its markets and its employee management policy. The assessment of external factors of the organization involves the listing down of finite list of factors which are a potential threat or opportunities for the organization in the external environment. By finite list is meant that not all the factors are focused. The priority is given to those factors which have high level of impact or form which high returns can be gained. The internal audit is also done in the situation analysis where the internal strengths and weaknesses of the organization are listed down (Fred David, 2006). After the clear understanding of the organizations current situation the real work begins where the strategies are formulated. The best practice is to involve the employees in this process as the employees from all levels will share their views and a better strategic decision will be expected. Here the strategies are developed to capitalize the opportunities available which were assessed in the external audit and minimize the threat of the factors. On the other side the strengths of the organizations require such strategies which further enhance them and the weaknesses are tried to be overcome. The next step in the strategy formulation stage is setting the long term objectives. Long term objectives are those which are associated with the sales and market share growth, it can be the growth of assets; it can be attaining any award from the government body etc. This is a very important phase as the long term goals and objectives show a direction to the whole organization. Long term objectives are set after a through consideration of external and internal strengths, weaknesses, opportunities and threats to the organization. The available resources and the expected resources are listed and based on those resources the long term but achievable, measureable and realistic objectives are set with proper timelines (Fred David, 2006). The final stage of strategy formulation process is the evaluation and selection of appropriate strategies to meet the long term objectives. In this the alternative strategies are also identified an evaluated and a contingency planning is also done. For instance in case of any external change which is beyond the change of organization such as change in legislations or change in market conditions then that contingency plan can be used. The existing strategies of the organization are the initial point for strategy evaluation. Strategy Implementation The next step in a strategic plan includes the strategy implementation. Developing an effective strategy does not ensures that the strategic plan will be successful. It was in the old times when the strategic planning was done only at the level of stagy formulation stage. Experiences of different organizations and further studies revealed that strategy formulation does not ensure the success of strategic plan. Implementation is another important part of the strategic plan. In the implementation phase the process of shifting the responsibilities to the middle and lower level of management is developed. As in the strategy formulation stage it was mentioned that to involve the employees of all the levels is important, so if any organization has done this during the strategy formulation them the strategy implementation process will be lot more easier. This is because the middle and lower level staff will have a clearer view of the strategies developed and they would be in a better positi on to implement those strategies in real practice (Kim Warren, 2008). Strategy Evaluation and Control After the implementation of strategic plan it is important like all other plans and project to evaluate the progress of that plan. Implementation phase end with the start of evaluation process. This is a continuous process until the strategic aims and objectives are not met (Fred David, 2006). There are many organizations such as McDonalds, who have strategic aims and objectives that shows continuity and a continuous process is required for that for instance one of the strategic objectives of the company is to provide the value to the customer. This is an objective which shows continuity as the fast food chain is aimed to provide the customer value to their money so for that strategy evaluation is required. This process ensures that the implemented strategies are progressing towards the achievement of organizational aims and objectives or not. In this process the required results or outcomes are compared with the actual results and if there is any kind of difference then with the cha nge in strategies of taking appropriate steps that difference is tried to be eliminated or at least minimized. Factors affecting McDonalds Strategic Plan Several internal and external factors can affect the strategic plan of McDonalds. These may include factors such as managements vision, financial factors, technological changes, legislative factors or market competition. As mentioned in the strategic plan earlier that the strategies are developed by considering the existing resources of the organization. It also includes the existing technology possessed by the company. If the existing system of McDonalds becomes obsolete with the introduction of newer version of the same system then the organization need to adapt that system to sustain in the market. In this case the strategic plan requires a change (Kim Warren, 2008). Same is the case with the market condition. If at the time of strategic planning the market conditions are evaluated and after implementation the market condition changes and requires a change then the strategic plan will also require a change. That is the reason it is suggested that McDonalds strategic plan should be flexible enough that can meet the changing market conditions. Furthermore the strategic plans are also depend on the vision of the management of the organization. If the management decides to go with a differentiation strategy because of the market need then the existing strategic plan will be changed. Financial aspects cannot be neglected in the strategic planning. Every strategy requires financial resources and if the financial resources are not sufficient enough to meet the new strategy then it will require a change in the strategic plan. However, these constraints can be minimized during the strategy formulation process by intensive research and evaluation of the internal and external factors, but still the dynamic market conditions and growing consumer needs cannot be predicted. McDonalds and Strategic Options If there is some change in the external environment of the company then in response to that the company opts strategic option. Moreover, strategic option is also chosen by an organization to grow and it tells that how the company wants to grow and what are the ways through which the completive advantage is taken by an organization over its competitors. By manipulating and taking advantage of the opportunities available for an organization the company can have a positive outcome. There are two renowned methods or ways which can be chosen by any organization to gain a competitive advantage over the other organization (Fred David, 2006). These two strategic options include the cost leadership strategy and differentiation strategy. Under cost leadership strategy the organization cut down its cost of production or cost of goods sold and hence increases their profit margins. As the business word today is highly competitive and inn the fast food restaurant industry the customers have so many options such as KFC, Pizza Hut etc. which are also providing high quality products. So in such scenario it is not possible for McDonalds to increase the prices of their products. So, cutting the cost of production and other operational cost will be the best strategy to increase their profit margins. The internal capabilities of McDonalds will require a focus and needs to be enhanced in order to achieve the goals of this strategic option. Another strategic option available for McDonalds is to offer such products and services which are unique in nature and are not available in the market. In this way the customer will have no other option to get the desired product or service. This will keep the customer intact with McDonalds and hence the profit margins of the organization will keep on growing. A best example of this is the ice cream provided by McDonalds. No other fast food chain provides the best quality ice cream and people are fond of McDonalds Ice Cream and this has been a unique product of the fast food chain which attracts millions of customers. Another unique feature of McDonalds is their quality customer services. In this era the customer service has gained utmost importance and McDonalds customer services is helping them to increase their market share. Even if the restaurant is packed with the customers the customer services quality remains the same which makes the fast food chain number one in the world. Strategic Option a Helping Hand to achieve Strategic Objectives Strategic options help the organization to achieve the organization strategic aims and objectives. However, a combination of the available strategic options is a good option for any enterprise as this can have a dual positive effect in the organizational performance and profit margins can also be increased with a wide margin. Using integrated strategic options allows the firm a more leverage to take decision on marketing mix. McDonalds can use either of the strategic option discussed earlier, but the more appropriate is to use the mix of both the strategic options. This will help to achieve the strategic objectives of the organization which were mentioned earlier in the document. Using a differentiation strategy, McDonalds will be able to charge the premium prices against the product features. However, keeping the legislation under consideration is also important before charging the premium prices from the customers (Kim Warren, 2008). On the other side of the picture the cost leader ship strategy will provide the company a more leverage to reduce their prices of provide discount offers to the customers as the company have more margin due to the increase in profit margin. McDonalds can offer different discount deals on their core products as these are also provided by their major global competitor KFC. So, if the fast food chain is following an integrated strategic option then it can attain competitive advantage on either side of the court. This will fulfill the first and important strategic objective of McDonalds i.e. to maintain the market leader position. As the fast food chain will be able to counter each offer given by its competitor and also can attack the competitor by offering new products and deals and maintain the market dominance. Furthermore, using the differentiation strategy the fast food chain can make their customer services so supreme that no other competitor can copy that. Along with the food quality which is already very unique can be improved further and new products can be launched which are not available in the market and not ever provided by any other organization. By suing this differentiation strategy the company will be able to achieve its another strategic objective i.e. to provide the customer with quality food and service. Cost leadership and differentiation strategies will improve the profit margins and the strategic objective to provide a positive return on investment of the shareholders and investors will be fulfilled. Concluding this discussion it is suggested to the McDonalds management to continue delivering the quality product and services and further reduce their operational cost without compromising the quality of their products and standard of their services. McDonalds Stakeholders Analysis Stakeholders are those bodies or parties which have direct or indirect interaction with the organization. These bodies are affected with the operations of the business positively or negatively. The major stakeholder for McDonalds includes their customers, shareholders and their employees. Customers Customers of McDonalds are the major focus of fast food chain. Mentioned earlier in the document that the companys corporate values indicate that customer is the king. The strategic objectives are also aimed towards the customer satisfaction by delivering value to them. Customer services is the important part of the McDonalds strategic planning as through quality customer services they are able to retain he customers. McDonalds branches and franchises are all over the world and they are huge in number. This is to facilitate the customer to provide the quality food with easy access. Furthermore the free home delivery service of the fast food chain shows that the organization is committed to produce their products and services at the door step of the customers. Shareholders Shareholders are another major stakeholder of the company. Strategic objectives of the company show that the company is committed to deliver return on investments. The company has adapted cost leadership and differentiation strategy which have given them a position of market leader and helped to increase the profit margins which is the major concern of the investors. Employees The employees are the key to success for any organization. At McDonalds it is not a different story. The company considers their employees as an asset like all successful organizations and is committed to facilitate their employees who in actual are the prime resources that leads towards the fulfillment of organizations strategic objectives. Five Competitive Forces Analysis of McDonalds Michael porter provided a frame work which contains the analysis of five different forces effecting the organization (Kim Warren, 2002). Through this analytical tool five different forces affecting McDonalds are evaluated. Figure 1 Porter Five Forces Model Threat of new entrants Fast food industry has gained a tremendous growth in the 21st century. Many fast food chains are operating in different countries. The major are KFC, Pizza Hut and Subway. However there are many local fast food chains that provide the same kind of products which these international fast food chains do. However, the quality and standard is not up to the level of these chains still these chains are able to grasp a handsome amount of market share. The entry in this business is not a difficult task; however, to launch a chain at the level of McDonald is quite difficult. Threat of Substitutes There are several substitutes available against the products of McDonalds, which are also liked by the consumers. So McDonalds also have to consider those substitutes while designing their strategies. Degree of Rivalry The competition in the fast food restaurant industry is intense. Having the major brands like KFC, PIZZA HUT and Subway , McDonalds really have to be up to the mark in terms of products and customer services to maintain the market leader position. Bargaining Power of Buyers Bargaining power of buyers in case of McDonalds is high as the customer has so many options so the fast food chains have to maintain their prices very competitive and keep the level of customer services up to the mark. Bargaining Power of Suppliers Bargaining power of supplier is not high in case of McDonalds. Suppliers try to add their names in the list of the big brand names such as McDonalds because of the frequency of their orders. Pest Analsyis of Mcdonalds Pestle analysis is to analyze the external forces which can affect the organization. Below is the brief analysis of McDonalds Figure 2 PEST Analysis Framework Political Forces Due to the global operations of the company there are several policies in different states which can affect the McDonalds policies and procedures. Economic Factors The global economy can affect the organization in many ways. The change in the fast food industry business can also affect the McDonalds in a positive or negative way. Social Factors Being operating in many countries across the globe, McDonald have to recognize the social and cultural factors. For instance in Muslim countries the fast food chain has to assure the community regarding the use of Halal chicken. Technological Factors The rapid change in technology will force the company to adapt it in order to survive in the competitive market. Furthermore, the introduction of new advertisement Medias gives a more chance to aggressively market the products through different channels. Conclusion McDonalds enormous success all over the globe is the result of their effective vision and mission which is leading the organization in the right direction. The selection of right strategies at the right time allows the organization to achieve the organization set aims and objectives. The progress of the company towards strategic aims and objectives is satisfactory. The selection of integrated strategic options will allow the company to progress more efficiently towards the achievement of strategic aims and objectives.

Educational Goals and Philosophy :: Teaching Teachers Education Essays

Educational Goals and Philosophy My idea of the perfect teacher is one that gets the right message across to all students. The perfect teacher would show his or her students good morals and ethics, and still yet deliver to the students what is in the text. The teacher would not necessarily have to teach straight from the book, but just getting the message across is the key. That might even involve a field trip or a hands-on activity, as long as students learn the best way. The best way to learn in my classroom will be the fun way. I will try my best to be as close to the perfect teacher that I can be. I will look at teaching through three of the four philosophical standpoints: idealism, realism, and pragmatism. The most emphasis will be placed on idealism. This is because I want to look at myself as a role model for the children. I also don’t believe in sending students to the office unless it is absolutely necessary. Kids this day in time don’t mind being sent to the office because they don’t want to do the class work anyway. It would only be doing them a favor to send them to the office. I am about half and half on realism. Some of the realist strategies would be very useful in the classroom but there are some I absolutely don’t agree with. I would really like to incorporate technology into the classroom because it is necessary for all children to master technology in the age we live in today. The rules and regulations will also be posted in the class at the beginning of the school year. However, students will not be grouped according to how good their test scores are. From pragmatism I will look at the classroom as a community of learners and apply problem-solving techniques. The students will also learn by engaging in activities first-hand, they do this because when the students start to get bored with what they are doing they quit learning.

Professional Essay -- Teachers Teaching Education Essays

Professional I remember when my sister and I would play school with our friends. It was one of the best experiences that I had. It was this experience that helped me make up my mind about being a teacher. Now as I move through the different stages in the educational program, I have determined that I have developed certain beliefs. By teaching and working with children, people can see my beliefs. My philosophy towards education is progressivism. Progressivism can be found in my views about public schools, my teaching methods, and my curriculum. First, my view towards public schools comes from my own experiences, as a student and from my observations. The main purpose of education is to teach students knowledge that will help them out in the world. Education is important because times change, and as people, we need to have the knowledge that will help us survive. I want to teach knowledge of the past and present for they can prepare for the future. An example is that the students, from my first observation, were very curious about the war that is happening. They kept asking the teacher questions. Because of this she discussed with them other wars which America and other countries have fought and compared them to the war that is happening now. Now they can come to their own conclusions. Students can look at school as a challenge for them to master, not as a burden. As they move through the grades, they will build upon the knowledge they learned from me. Another objective of public schools is for students to realize that they are important not just as a class, but as an individual. As a teacher, I want my students to know that they have a voice in what we do as a class. Chi... ...on plans I notice that some part of my views have changed. I have gained a newfound respect for teachers. At my first placement all I had to do was just observe the classroom. I helped with lessons, and I graded papers. But during the second placement I had to play the role of the teacher. For this observation I had to teach 2 lessons. I went through the whole process. I did the research, paper work, and teaching the lesson itself. I now know how teachers feel about the process. It is hard work for a 15-minute lesson. The teachers do this for 7 subjects per day. Some people think teaching is an easy job, but they don’t know the whole process of teaching. Now I have a taste of all the views of education: student’s view, an outsider’s view, and finally a teacher’s view. The placements have been very educational for me. I can’t wait for my next placement.

Custom Snowboards Essay

Custom Snowboards, Inc. is interested in securing funding to expand into the European market. Financial statistics have been provided within this report to discuss the feasibility of this expansion. To fund the project, Custom Snowboards wishes to secure capital debt of $1,000,000. Custom Snowboards has seen considerable growth in the percentage of sales and substantial increase in revenue. They expect future sales to continue to rise, which would be beneficial to the lender and Custom Snowboards. A horizontal analysis will be reviewed and will reveal the Custom Snowboards financial position over a three-year period. This will help in the actual approval process. The review will look at key points and will help to confirm Custom Snowboards ability to successfully expand into Europe. Profitability The financial health of a company reviews sales, total assets and net worth in relation to how profit was earned (Hunt, 2013). Thus, income statements from a threeyear period will be reviewed and this will help develop a picture of Custom Snowboard’s financial health. Net Sales Net sales increased 32,200 or 0.49% from year 12 to year 13. This indicates strength within Custom Snowboards, even though the increase was minimal. Year 13 to year 14 net sales dropped by 3.4% or $225,400. This does not bode well for Custom Snowboards and could cause a concern regarding the ability to repay the debt. The CUSTOM SNOWBOARDS Company’s corrective action plan should be reviewed to see if the changes implemented worked. Cost of Goods Sold The cost of goods sold in year 12 and 13 increased by 0.49% or $22,400. This  is considered strength. It makes since that net sales increased that the demand for goods sold increased as well. However, when net sales decreased in year 13 and 14 so did the demand for goods sold. This decrease is equal to a decrease in sales of 3.4%. There was no over spending during this time frame and is determined by the cost of goods sold and net sales percentages were exactly the same. Gross Profit Year 12 and 13 saw gross profit increase by $9,800. Again, sales were increased, so gross profit was increased by 0.049%. The gross profit was above $2,000,000 during year 12 and 13. Gross profit by year 14 had dropped 3.4% or $1,950,200. This is a concern for Custom Snowboards, since it represents a reduction in revenue and viability. Operating Income Operating income for year 12 and 13 dropped by $63,000 or 23.56%. The operating income continued to drop during year 13 and 14. By year 14, the operating income had fallen $109,000 or 53%. This is a concern for Custom Snowboards and they may have trouble paying all their liabilities. Custom Snowboards finance team plans to implement protocols to correct deficiencies in operating income. Earnings before income taxes Earnings before income taxes dropped by $57,800 or 30% in year 12 and year 13. This continues to drop 82.74% during year 13 and year 14. However, Custom CUSTOM SNOWBOARDS Snowboards lost $106,000 on earnings before income taxes. Earnings before income taxes help establish a measurement of profitability, but do not really represent cash earnings (Investopedia, 2013). To decide on credibility, other factors have to be considered along with this item. However, Custom Snowboards wants to ensure transparency and accuracy in trying to secure this debt. Net Income Net Income was down $43,350 or 30% during year 12 and year 13. This drop continued into year 13 and year 14 by continuing to drop 82.74% or $80,175. This is a concern for Custom Snowboards. This indicates potential problems exist, such as workflow, production, and pay. Furthermore, the financial picture of the company is not a healthy one. Liquidity Trading activity within Custom Snowboards liquidity is characterized as high. The horizontal analysis will determine how quickly cash can be converted into use. Also, the horizontal analysis will help determine the company’s liquidity and the ability to meet obligations. Cash and Cash Equivalents Shares and bonds that can be easily converted into cash are considered cash and cash equivalents. This converted cash is then immediately available for use. Custom Snowboards had a cash and cash equivalent of 83.8% during year 12 and year 13, but that dropped to 7.2% in year 13 and year 14 since sales dropped during that period of time. This would be a concern for Custom Snowboards and indicates they may not have the CUSTOM SNOWBOARDS 5 assets available to keep immediate cash flow available, especially if sales are not as expected in Europe. Total Current Assets $142,260 or 19.3% represents the total current assets of Custom Snowboards during year 12 and year 13. However, in year 13 and year 14 total current assets fell 16%. This is a concern for Custom Snowboards since the company must have enough assets to fund operations and pay expenses. Continued low sales and limited assets is a concern for lenders and poses the question if Custom Snowboards would be able to meet its financial short-term obligations. Solvency Custom Snowboards appears to be financially solvent from the review of the income statement and balance sheet. Custom Snowboards has reduced liabilities and maintained consistent repayments to reduce long-term financial obligations. This is strength for Custom Snowboards since they saw sales drop. Long-term Liabilities Year 12 and Year 13 saw long-term liabilities drop 6.4% and then drop another 6.8% in year 13 and year 14. This is strength for Custom Snowboards and shows a determination in reducing these liabilities. Custom Snowboards is attempting to demonstrate they are committed to expansion and growth. They anticipate the European expansion will help generate sales and earnings that will help them meet their long-term liabilities. CUSTOM SNOWBOARDS 6 Total Liabilities Custom Snowboards posted total liabilities of $54,640 in year 12 and year 13, which is down 5.5%. Total liabilities continued to show a decrease during year 13 and year 14 of 6.2% or $57,520. This is strength for Custom Snowboards and shows a determination to reduce debt. Custom Snowboard has provided transparency of its financial records to provide an understanding of the mission of the company and to help with the approval process in securing the $1,000,000 debt. A2. Risks Profitability is important in any business. To ensure profitability, cost-saving measures must be considered and initiated to reduce financial risks (Hunt, 2013). This will help Custom Snowboards continue to grow and see sales grow. Net Sales Net sales dropped $225,400 or 3.4% in year 13 and year 14. Merkgraf (2013) believes the way to increase net sales is to hold staff accountable after the implementation of specific sales strategies and the setting the bar high. To accomplish this, the focus will need to be on repeat sales. This can be accomplished through marketing and thus the marketing budget will need to be addressed and have additional funds. Marketing and public relations can help increase the drop in sales and to inform consumers Custom Snowboards is planning expansion into the European market. A realistic goal to strive for is a 20% increase in sales each year for the next five years to help recover from the loss in sales and revenue. This will make the company more profitable and increase the net operating income. Marketing must focus on repeat customers and initiating creative promotional  incentives that will bring in customer interest. Sales staff must also find CUSTOM SNOWBOARDS These incentives beneficial so they are able to be resourceful when utilizing sales tactics and to turn potential customers into actual customers. The actual plan must implement methods that are cost effective and do not increase cost during production. The goal is to reduce spending and costs and increases sales. Gross Profit Gross profit was recorded at $1,950,200 or a decrease of 3.4% at the end of year 14. This is a concern since the goal of all business is to increase gross profit to make the company more valuable. The company must increase sales to keep gross profit up. Operating Income Year 12 and year 13 saw operating income drop $63,000 or 23.56%. Operating income continued to decline in year 13 and year 14 to $109,000 or 53%. Again, sales must increase for an increase in operating income to be seen. A possible strategy to increase sales is to offer personalized snowboards. These snowboards can be priced less than other snowboards, thus making them more attractive to the customer. Also, it gives the customer a chance to obtain a product different from others and cheaper than others, which can increase the interest to purchase the product. Earnings Before Income Taxes Year 12 and year 13 earnings before income taxes dropped $57,800 or 30%. This decline continued into year 13 and year 14 with a drop of $106,000 or 82.74%. This is not a good sign for Custom Snowboards. Costs need to be cut and management will need to determine where the areas that can be trimmed exist. The goal of any business is profitability and growth. The company will need to demonstrate they are capable of CUSTOM SNOWBOARDS 8 meeting financial obligations when expansion into the European market is well underway. Net Income Net income dropped 30% or $43,350 in year 12 and year 13. This drop continued into year 13 and year 14 with a total drop seen of $80,175 or 82.74%. This indicates a poor financial picture and position for Custom Snowboards. There may be production or workflow problems that may become apparent and be concerning to lenders. This drop in net income affects everyone within the company. To increase net income, sales must be increased. Thus, the minimal advertising budget must have additional funds allocated to increase sales and public relations. This is especially important during expansion to let customers know Custom Snowboards will be involved within the European market. Cash and Cash Equivalents Cash and cash equivalents were recorded at 7.2% in year 13 and year 14. This is a substantial drop from previous recordings. To avoid liquidity concerns, Custom Snowboards must increase the balance in cash and cash equivalents. Root causes for the decline must be determined and corrective plans must be implemented. An increase in marketing and public relations to increase product awareness is one example that could be implemented that would help generate sales. Total Current Assets Assets are important in the business arena and profitability needs to rise for a company to be successful. Total current assets dropped 16% in year 13 and year 14 for Custom Snowboards. This is a concern and companies that see assets drop are not profitable and over time lose money (Hammel, 2013). Total current assets need to be CUSTOM SNOWBOARDS 9 raised and to do so debt needs to be paid off or even down. However, Custom Snowboards needs to redirect some monies to be utilized during the expansion process. A3. Ratio Analysis The solvency of Custom Snowboards will be reviewed and confirmed by the ratio analysis. Custom Snowboards is seeking a loan for $1,000,000 and has great potential for growth in the snowboard market. The snowboard market has seen a demand for the product and an increase in sales. Income statements and balance sheet from two years of financial information will be reviewed and presented. Profitability Gross Profit Margin Custom Snowboards financial health is determined by the gross profit margin. Year 13 Custom Snowboards gross profit margin was 30.4. This means Custom Snowboards retained $0.30 out of every $1.00 earned. Year 14 saw no change in the gross profit margin. A gross profit margin of only 30.4 is not a strong margin ratio and indicates a weakness for Custom Snowboards, especially when the industry average was 32.1%. Custom Snowboards experienced a reduction in sales and was able to maintain the $0.30 per dollar in revenue, which indicates strength within the company. It goes without saying that profitability will be low when gross profit ratio is low (Horngren, 2009). Custom Snowboards plan to help the expansion project by eliminating expensive liabilities. Net Profit Margin Custom Snowboards net profit ratio was 1.5% in year 13 and with a downturn in sales in year 14 the ratio had dropped to 0.3%. This was well below the industry average CUSTOM SNOWBOARDS of 5.1% recorded by Winter Sports. This is a concern for Custom Snowboards since the business sustainability is in question if profit drops or is absent. Custom Snowboards needs to increase sales and show an increase in profits to ease any concerns lenders may have regarding the company’s efficiency to reverse the unforeseen decrease. Return on Total Assets Custom Snowboards return on total assets was recorded at 5.4% in returns in year 13, which is considered a strong performance. The profitability and sales were strong as well. However, Custom Snowboards return on total assets had dropped to 1.0% by the end of year 14 due to poor sales and profitability. A major competitor, Winter Sports, recorded a more profitable year at 4.8% return on total assets. This demonstrates the competitor was able to control overhead better than Custom Snowboards. Return on Common Equity Return on common equity demonstrates how equity is effectively used to create  more profits and is a significant ratio for the company. The return on common equity for year 13 was 11.4% and is seen as strength for Custom Snowboards. It figures to $11 return on every $100 earned by the company. However, by year 14 the return on common equity had dropped to $2 on every $100 earned. This was subpar and below the industry average. A major competitor, Winter Sports, recorded 8.1% return on common equity ratio. Liquidity Current Ratio Problems with liquidity can be found within a common financial ratio. This will give an idea of what the working capital position is like for that company. Furthermore, CUSTOM SNOWBOARDS it will be a good indicator to determine if a company will be able to repay a debt within a 12-month time frame. A company with a high current ratio often has cash or inventory necessary to pay for short-term debts. The current ratio for Custom Snowboards during year 13 was 6.82. This is an acceptable number, as 2 often is the indicator that determines whether a company is able to pay for short-term liabilities. Again, year 14 saw a decrease in numbers and lost almost one full point in the current ratio dropping to 5.84. This is not a cause for concern, but demonstrates strength for Custom Snowboards and their position to meet short-term liabilities. This ratio is better than a major competitor, Winter Sports, who recorded a current ratio of 4.20. Acid-Test Ratio Investopedia (2013) defines an acid-test ratio as one that determines whether inventory needs to be sold to cover immediate liabilities or if a company has enough short-term assets to do so. Along with a current ratio, the acid-test ratio should have a higher number to be in a better financial position. Year 13 recorded the acid-test ratio at 6.82 and year 14 at 3.64. Year 13 and year 14 are seen as strengths, since an acid test ratio should have a 1 or higher to be considered able to meet current liabilities. Year 14 saw Custom Snowboards lose sales in a struggling economy yet maintain a higher acidtest ratio than the industry average of 3.40. Again, this is seen as strength for Custom Snowboards and the ability to meet short-term obligations. Solvency Debt Ratio A debt ratio is reviewed to see the financial ability of a company to repay its debts and the ability to have a â€Å"cushion† to fall back upon should the need arise. Custom CUSTOM SNOWBOARDS Snowboards has stringently worked to accumulate large cash and cash equivalent balances to help in case of an economic downturn and prevent a cash crisis. The debt ratio was 52.5% in year 13 and 50.4% in year 14. This reduction demonstrates company strength, since Custom Snowboards was able to continue to reduce debt while facing a decline in profits and sales. However, Winter Sports were able to record a lower debt ratio of 38%. Custom Snowboards must develop a strategic plan to increase sales, reduce costs, and reduce current debts so they are able to reduce the risks for insolvency. Time Interest Earned A higher time interest earned ratio is indicative on how well a company can make payments on interest owed for debts. To find this ratio, you must know the total earnings before interest and taxes of a company then divide by the total amount of interest due on the debt. Custom Snowboards recorded a 2.58 time interest earned in year 13 and 1.29 time interested earned in year 14. A time interest earned ratio of 1.5 is indicative of the company’s ability to make payments on the debt. Thus year 13 is strength for Custom Snowboards and was generating enough money to meet the interest payments owed. However, year 14 saw a decrease and a weakened financial position. This was due to a decline in sales and difficulty generating revenue. Winter Sports had a much stronger financial position and recorded a time interest earned ratio of 5.10. B1. Historical Analysis The past and present performance information of Custom Snowboards liability and equity will be reviewed utilizing a horizontal analysis for year 12, year 13, and year 14. The balance sheet and income statement will be reviewed and compared to measure CUSTOM SNOWBOARDS 13 growth and reduction. The review will also look for insolvency so corrective actions may be implemented. Net Profit Net sales and growth in profit is important for company existence. Net sales for Custom Snowboards were recorded at $6,601,00 in year 12 and increased by $32,200 or 0.49% in year 13. Year 14 saw a decrease in net sales and recorded a drop of 3.40% and net sales of $6,407,800. Net sales, when up, indicate strength for a company and are indicative of a thriving business, but when down there is an effect on profit that everyone notices. Cost of Goods Sold The cost of goods sold in year 12 and year 13 increased 0.49% and recorded expenditures of $32,000 more in year 13 on cost of goods sold. This actually amounted to the same as net sales during the same time period. Year 13 and year 14 saw costs of goods sold drop and net sales drop to 3.40%. These can be seen as strengths for Custom Snowboards since they are meeting the demand for their product and demonstrating a relationship between profit and cost of goods sold (Kennon, 2013). Gross Profit Custom Snowboards recorded an increase in gross profits of 0.49% in year 12 to year 13. This is not surprising since net sales and cost of goods sold were recording an increase at this time. This is considered strength for Custom Snowboards because gross profits increased when sales increased. Year 13 to year 14 gross profits saw a dramatic drop of 3.40% or $600,000 due to the decline in sales from the economic downturn and the possibility of competitors selling similar products at reduced costs. CUSTOM SNOWBOARDS 14 Operating Expenses Operating expenses for Custom Snowboards increased 4.21% or $733,000 in year 12 and year 13. This trend continued into year 14 and increased another 2.23% or 40,400 to a total of $1,853,200. Custom Snowboards must find a way to determine how operating expenses can be reduced without raising product prices yet increasing sales. General and Admin Expenses Custom Snowboards increased administrative salaries 4.76% in year 12 and year 13 when sales were increased as well. Salaries also increased during this  time period 13.63%. This makes sense because sales were increased, so production would need to be increased as well. Administrative compensation is a concern upon review and rose from $210,000 in year 12 to $250,000 in year 14. Year 14 saw sales drop and gross profits drop. The demand for products has been reduced and this is not feasible that compensation should continue to increase more than 13%. Executive Salaries Custom Snowboards increased executive salaries 2.63% in year 12 and year 13. The company proceeded to increase executive salaries again in year 13 and year 14 10.26%. This is not feasible and a concern for Custom Snowboards. The company needs to be cutting operating costs and compensation of executive salaries since a loss of sales and demand for products has happened. Custom Snowboards needs to standardize production practices for maximum efficiency, reduce staff hours to compensate for the decrease in production demand, and reduce costs while the demand remains low. CUSTOM SNOWBOARDS 15 Utilities Custom Snowboards recorded increased utility costs of 7.14% or $17,000 in year 12 and year 13 and then a continued increase of 1.96% or $5,000 increase for year 13 and year 14. The increase in year 12 and year 13 is not surprising because the demand for products was higher and sales were increased. The cost for utilities and energy consumption should then have decreased when production demand waned. The utility budget for Custom Snowboards was not realistic, since sales increased 0.49% or $32,200 and that is less than half of what monies are provided within the utility budget. Current Assets Changes in percentages on multiple accounts can affect profitability. Custom Snowboards recorded current assets that changed period to period by increasing and then decreasing. Cash and Cash Equivalents Custom Snowboards recorded an 83.8% increase in cash and cash equivalents in year 12 and year 13. This gave the company a large cash balance and the  ability to meet short-term obligations without problems. A 7.2% reduction in cash and cash equivalents in year 14 was recorded when sales declined. The higher the cash and cash equivalents the more availability the company has to liquidate assets to cover short-term obligations. Accounts Receivables Custom Snowboards recorded a minimal increase of 0.5% in accounts receivable during year 12 and year 13. To have an increase in accounts receivable is a concern for the company since it’s indicative that customers are often having trouble making payments for products purchased. Accounts receivable was improved in year 13 and year CUSTOM SNOWBOARDS 16 14 when a decrease of 3.4% was recorded. This would be strength for the company and indicate the customer has paid for products purchased and revenue is moving in the right direction. Raw Materials Inventory Raw materials inventory increased 0.5% in year 12 and year 13, but decreased 3.4% in year 13 and year 14. To have limited raw materials inventory for production is strength for Custom Snowboards. This limited inventory is easy to store when sales decline and easily accessible when sales rebound and production increases. Liabilities Liabilities are obligations owed on short-term and long-term debts. Custom Snowboards decreased liabilities 5.5% in year 12 and year 13. The company was further able to reduce liabilities 6.2% in year 13 and year 14. This is strength for Custom Snowboards and is indicative of positive financial repayments. Accounts and Notes Payable Custom Snowboards accounts and notes payable increased 0.5% in year 12 and year 13, but decreased 3.4% in year 13 and year 14. This is considered strength for Custom Snowboards and is indicative of positive financial repayments. Total Current Liabilities Custom Snowboards total current liabilities increased for year 12 and year 13 0.3%, but year 13 and year 14 recorded a decrease of 3.4%. This is strength for the company and again shows a positive repayment history that exhibits creditworthiness. This should tell lenders that Custom Snowboards is committed to repaying liabilities even when a decline in sales happens. CUSTOM SNOWBOARDS 17 B1a. Future Performance A trend analysis will be conducted to view financial changes that have transpired over the multiple years within Custom Snowboards. These changes will then be calculated, evaluated and used for comparison to the base year to help develop a plan of action and provide direction for which Custom Snowboards will head financially. The base year is year 12 with $6,601,000 in net sales at 100%. Net sales recorded minimal growth in year 13 at 0.5% over base or 100.5%. Monetarily net sales recorded a $33,200 growth in year 13, which is not seen as a strong growth, especially since the demand for the product was decreasing. Year 14 recorded a drop in net sales to 97.1% from baseline in year 12 and 96.6% in comparison to year 13. This is a concern for Custom Snowboards since sales could not be maintained. Procedures may need to be reviewed to check for inconsistency and inefficiency in production and sales so this may be corrected and sales can be boosted. Pricing adjustments can be made and the product may become more appealing to potential and existing customers. Custom Snowboards forecasts a recovery of 3% in year 15 on the trend analysis, which will help strengthen their financial picture. Management envisions growth and net sales will occur and increase consistently as the economy improves. The forecast for year 16 is not as favorable as year 15 and net sales drop 1% or $100,000. The prices on products will be adjusted to remain competitive within the industry. Management believes the economy will recover then net sales and revenue will improve. Year 17 is forecasted to improve 3.7% over base line or total earnings of $6,647,452. This trend analysis shows the management of Custom Snowboards believes the company can recover and become prosperous and grow. CUSTOM SNOWBOARDS 18 B2. Improvement Revision Line items in use will be reviewed in the overhead analysis to see what is profitable, cost effective and best practice for personalizing snowboards. The goal for Custom Snowboards is to increase net sales and revenue and limit liabilities, while making everyone happy. The company must maintain prices that can be competitive within the industry and European market yet maintain profit margins that are reasonable to succeed. A traditional costing method is currently implemented at Custom Snowboards. The company currently has two product lines, regular snowboards and customized snowboards. The individual type of snowboard and the inventory ordered for each determines the cost of each snowboard. The assumption is the manufacturing cost drives the price of the product. The concern with this type of cost driver is it does not take into consideration all the underlying costs that affect the overall product price (Johnson, 2013). Custom Snowboards must be more accurate in production costs to have increased profits without rising product pricing and remain competitive in the industry. Activity based costing could be something Custom Snowboards wants to implement to help obtain a more accurate picture of production costs. This method allows a company to see the overhead in manufacturing and what each activity actually costs in the production process. It is more accurate and adjustments can be made with specific activities to reduce the amount of money spent. Custom Snowboards produces regular and personalized snowboards. Activity based costing can compare these manufacturing processes and see where the overhead costs are in each step of the production process for each product. The material and labor CUSTOM SNOWBOARDS Costs for both traditional and activity based costing is $3,375,143 for the regular snowboard. The personalized snowboard material and labor costs is $1,177,344 utilizing both the traditional and activity base costing methods. Custom Snowboards has a lump sum overhead charge for manufacturing using the traditional costing method. Regular snowboards sum is $1,068,982, while the personalized snowboards sum is $334,048. Utilizing the traditional costing method the total production cost is $4,444,125 for the regular snowboard and $1,511,392 for the personalized snowboard. Activity based costing distributes costs among the activities it takes for manufacturing to help determine accurate product pricing. Some activities included in activity based costing consideration are product development, quality control, package assembly and shipping, and miscellaneous items. Regular snowboards have a manufacturing cost of $546,863 utilizing the activity based costing method. Personalized snowboards activity based cost for manufacturing is $856,167. Thus, total cost for production for regular snowboards is $3,922,006 and personalized snowboards is $2,033,511. The activity based costing method reveals Custom Snowboards has overspent during the manufacturing and production process while utilizing the traditional costing method. The new personalized snowboards have a greater factory setup cost, but should decrease over time as the product is sold. One improvement identified is packaging and shipping of both products. There is a significant difference between the cost with regular snowboard packaging and shipping costing $266,072 and personalized snowboards packaging and shipping cost of $66,516. This is quite a dramatic difference, especially CUSTOM SNOWBOARDS Since regular snowboards comprise on 20% of sales while the personalized snowboard sells 80% of the sales output. The activity based costing method can help trim costs and overspending while being able to forecast more accurate pricing and sales to ensure a better return on investment. Custom Snowboards could utilize the just in time costing method that follows the principle materials do not sit in the warehouse, but are â€Å"pulled† when the demand is there for the product. This is not an ideal costing method for some businesses, since it leaves no wiggle room when forecasting the future. The just in time method does minimize costs and production time, since these things take place when there is a demand for the product and no excess inventory is left sitting around. This leaves more cash for the company to re-invest and improve costs. For just in time costing to work requires the company to forecast sales and evaluate excess inventory and materials. Custom Snowboards had $143,136 in excess inventory in year 14. This will continue to increase by 0.1% annually if no adjustments are made to production. Custom Snowboards has previously had excess inventory and materials left over annually. Utilizing the just in time costing method can help increase income for the company and help save time, costs, and resources during the production demands. B3. Internal and External Risks Risks that can be controlled by the company are internal risks. Risks that happen outside of the company and the company cannot control are external risks. External risks often happen without warning and this is why companies must have the forethought to be prepared for many things. Some external risks include environmental issues, currency CUSTOM SNOWBOARDS Exchange rates, economic factors, and legal issues both domestic and internal. Internal risks may include production staffing, language barriers, and management structure. Management Structure and Staffing Staffing and management structure would be considered an internal risk since Custom Snowboards will have to make changes in the management structure with expansion into Europe. The company will have business operations in two countries and the goal will generally need to remain the same at both locations. The leaders will need to be both effective and efficient to guide the company to a successful transition. Staffing will play a major role, since multiple positions will have multiple people working in that role in both facilities. The leadership of the company will have to evaluate these positions to maximize efficiency to work towards increased revenue and profits. Loss of Focus Expansion may often cause a shift of business focus to change and move away from important issue like quality assurance, production efficiency, and production deadlines. Leadership must ensure the company has a strong core to stay focused on the business goals for current and future project successes. Language and Cultural Barriers Expansion into Europe is bound to cause language and cultural barriers. A new country and market can cause interactions to be strained if language and cultural barriers cannot be breached. Language is important in business to ensure communication is effective the company must have leaders that know the language in the new country and are sensitive to the cultural differences for a successful expansion. It would be CUSTOM SNOWBOARDS Deferential to offend potential customers, thus ruining company relations. The business goal is to prosper. Currency Exchange Rates The expansion into the European market will require Custom Snowboards to deal with foreign currency. The foreign currency rates change frequently and Custom Snowboards will have to convert this into US Dollars. The company will have to ensure they are not losing money on their products and they are not overspending on production costs. The company cannot control this external risk factor, but they do need to try and prepare for any eventually that may affect the company. The US economy may be strong, but a variety of things can cause this to crash and the same goes for the European economy. Foreign economy can lead to large fluctuations and for great revenue gains, but it also means it can cause big losses as well. International Legal Risks International and US legal risks are similar in nature and can cause several problems. Custom Snowboards must understand the tax laws and operations as it expands into the European market. The company must understand the legal standards of the business operations in the market. The company must ensure they have met all the obligations of the law within the countries they will be providing services to and to defray any problems that may arise. Also, by understanding these laws Custom Snowboards can eliminate costly legal fees and fines. Environmental Risk An external risk beyond Custom Snowboards control is an environmental risk. Snowboards require snow and winter. Environmental factors can severely affect sales of CUSTOM SNOWBOARDS Snowboards. Dry, warm climates are less likely to need a snowboard. Marketing is important in this aspect and should focus on areas that have winter seasons and snow. European areas vary in climate and marketing should focus on areas that are prime for skiing. Weather patterns may also play a role in environmental risk. El Nino and La Nina can affect the winter season and how much snow and how cold the area actually gets. Complete Customer Service Customer service is important with any business. The goal is to help resolve any issues a customer may have to reduce the dissatisfaction. Custom Snowboards will have a large area to cover within the European market and must be cogzignant of a wide variety of languages and customs to be aware of. Customer support should be convenient for all consumers. A positive customer service experience will lead to good reviews and word-of-mouth sales, which boost revenues. Poor customer service travels fast and would hurt Custom Snowboards and reduce sales and revenue. Reputable Suppliers Custom Snowboards must be able to get products to the European plant to produce the snowboards. Communication skills are key to dealing with business partners to reduce any potential obstacles. Business practices must be clarified to avoid any complications. Product quality must be written contractually to avoid any possible confusion. Individuals with good communication skills must be placed in the positions to help secure these suppliers to keep product quality the best and available for production. CUSTOM SNOWBOARDS B3a. Recommendation Management Structure and Staffing A management and staff model must be developed and utilized to mitigate risks. The plan must outline the company’s organizational chart and who reports to whom. The organizational chart will outline each department of the company and the staff that are identified within each department. The company will then develop specific job descriptions for each position to  clarify the role and expectations. Custom Snowboards management team will then be able to identify what positions are exactly needed and where cuts can be made. This will help ensure the strongest staff is in place for the expansion to deal with issues as they arise. A plan in place will ensure the company can ensure smooth transitions for future expansions. Loss of Focus Loss of focus in current business practices requires a business plan to keep the company trained on the goal. The business plan will actually outline the goals Custom Snowboards has and where they want them to lead to. The company will implement the staffing plan into the business plan to mitigate risk. A taskforce will be formed that will focus solely on the management of the US plant, but will receive updates on the planned European expansion. Language and Cultural Barriers Language and cultural issues require training and education to reduce risk. Employees who are educated on languages and cultures are more likely to be comfortable and less likely to offend the customer. Custom Snowboards can hire interrupters’ to help staff until all are comfortable within new positions and skills have been attained. The CUSTOM SNOWBOARDS 25 company should also consider hiring staff from all different cultures to strengthen the moral and company. Custom Snowboards should hold training seminars frequently to reinforce cultural identities served, especially when employees will be traveling to a new area. Currency Exchange Rates Currency exchange rates are external risks, but Custom Snowboards are preparing to reduce any damage that affects the company. The exchange rates change frequently. The company will want to compare products with competitors to understanding pricing concerns prior to the expansion. The cost for production should carefully considered reducing all necessary overhead to increase revenue. The European financial market trends must be evaluated and then trend projections can be created. The financial market is not totally predictable so it not able to mitigate risk completely. International Legal Risks A legal team that is well versed with international law is key to reduce risk. Also, a management team that is aware of potential pitfalls and risks associated with international is key to have in charge during expansion. The company must comply with all laws and ensure they understand all the laws of the countries that they will be doing business with. The company should educate staff on what laws are pertinent to their respective departments and keep them abreast of changes. Custom Snowboards should ensure they have enough cash available to survive, should issues arise. Environmental Risks Custom Snowboards has absolutely no control over the environment. They can ensure plants and warehouses are up-to-date and in stable condition to be able to weather CUSTOM SNOWBOARDS Any type of weather they may encounter. Production needs to take place in multiple areas, so should something happen to one area they can continue production without further losses. Custom Snowboards can review and analyze annual weather reports to help forecast trends and be prepared for the unexpected. An environmental risk can take many forms and is hard to predict and control. The company must have multiple contingency plans in place for this reason. Customer Service Customers are essential to a business. The profitability of a business relies greatly on how satisfied a customer is, repeat business and potential new customers because of word of mouth advertising. A toll free call center will allow customers to call in with any questions or concerns regarding the products purchased. Custom Snowboards staff will be able to address these concerns and questions, but only after undergoing an educational training session and establishing a process standard of communication. The company will develop a communication and relationship curriculum to help focus on long-term relationships (Joseph, 2013). Reputable Suppliers Custom Snowboards must research suppliers available within the area of the  European expansion to ensure a reputable supplier is found that is both reliable and has quality products. The business terms and contractual details must be attended to minimize the chance of fraud. The contract must be written in terms that both parties understand to ensure no misunderstandings take place. It would be helpful for Custom Snowboards to employee area natives to help interpret when needed. CUSTOM SNOWBOARDS B4. Potential Returns Custom Snowboards is planning to expand into the European market. They will expand their customer base, increase revenue and experience a growth rate. Projected annual sales are expected to increase for year15 to year 19. Year 15 annual sales of $1,271,720 are projected and expected to increase to $2,390,085 at year-end of 19. Also projected to increase is net cash flow especially as this has a direct relationship with the cost of goods sold. The forecast net income peaks at $256,703 in year 19 up from $98,550 in year 15. The European expansion is projected to build a strong financial future for Custom Snowboards. The Net Present Value and Internal Rate of Return are reviewed when looking at the capital budget of a business. The future value and present value of a company is indicated based on cash flows under the net present value. Custom Snowboards is ready to invest $1,000,000 into an expansion project in Europe. This is based on cash flows over five years and the present total value of the company with a market change factored in or $1,028,437. This means the company will be profitable in the European market and see a return on their initial investment. The internal rate of return looks at the rate the project grows at. Custom Snowboards looks at to return 10.8% over 5 years based on the initial $1,000,000 investment. The minimum rate of return or hurdle rate is set at 10%. This means the company will make a profit in the future on the initial investment. The net present value and internal rate of return are beneficial to companies when predicting future growth on investment. Companies tha t have a strong net present value and internal rate of return are able to secure loans and expand. This is important for the future CUSTOM SNOWBOARDS 28 successes of companies. Custom Snowboards is predicting returns on their initial investment with the European expansion and increases in revenue. Custom Snowboards must evaluate their fiscal responsibility to determine if leasing or buying is in the best interest of the company. The company will need to put a $50,000 down payment from working capital and $800,000 to either buy or lease a facility. Analysis determines purchasing a facility would be in the best interest of the company. The present value outflow to lease is $653,355 and $597,723 to purchase a building. The tax deductions available would provide a benefit to the company as well. Custom Snowboards should consider obtaining borrowing money for a long-term debt from an outside source. The optimal capital structure that would provide the best return is to fund the project in Europe over five years. This would allow for 1.547 earning per share to accrue even though the debt will require a 6% interest rate on return. This will also help preserve cash flow since a constant repayment is easier to budget and earnings can continue to grow. Custom Snowboards is reliable and creditworthy. This will be easier for them to obtain the long-term debt. Debt financing can provide a benefit to Custom Snowboards since they would be able to deduct interest on the business taxes at the end of the year (Daniels, 2013). Having an outstanding debt can be a downfall for a company as well. The company is under the obligation to make payments to the lender in a timely manner and if the projected revenue is not as expected this will be detrimental to the company and capital structure. The budgeting process will help Custom Snowboards decide to expand into the European market. The management team must look at all the capital budgeting CUSTOM SNOWBOARDS 29 techniques to understand the total viability of the project. The decision will not be an easy one, but will require careful review of the entire financial picture. B5. Summary Custom Snowboards has demonstrated that European expansion is an idea that is viable for the company. The company must now decide if they wish to build, merge, or acquire within the European market. This will not be an easy decision, but meticulously made after analyzing the capital structure and  corporate strategies. Custom Snowboards has the option to build a new plant within the European market. They would need to determine where the plant would be located and acquiring the necessary land and permits. The company would be required to start from scratch to get started. The plant would be built to the company’s specifications and could be economical, but would require a large amount of money for start-up initially. Buying a building is another option available to Custom Snowboards, but ties the company to the area. This would be the smartest move based on the financial data available. It would be cost effective and allow the company to move in after the building is adapted to the needs of the company. However, leasing a facility would give Custom Snowboards the opportunity to leave the area if the forecasted expectations are not attained and things are not as viable as hoped. Custom Snowboards has the option to merge with SnowFun, Inc. This would provide the expansion into the European market that Custom Snowboards desires. The merger would provide the opportunity to increase profits, earnings per share from $0.98 to $1.18, have less competition, and expect a strong return on investment. SnowFun stockholders will benefit more from the merger than Custom Snowboards in regards to CUSTOM SNOWBOARDS 30 earnings per share, since SnowFun will see earnings per share will go from $0.26 to $1.18. Custom Snowboards would have 200,000 market shares pre-merger and 500,000 after the merger has taken place. Custom Snowboards can buy shares back to reduce the amount available to the public and the stockholders will increase the earnings per share. This would be beneficial to the stockholders, but is not always available immediately after a merger has taken place. Custom Snowboards would also see increased company worth if a merger took place. They would gain invaluable contacts from SnowFun and gain insight on the European snowboard market that they would not otherwise have. However, a merger would leave the company with excess employees. This can lead to disgruntled employees and low staff moral. Customers may be aware of this and shy away from purchasing products from this newly merged company. Custom  Snowboards will need to ensure everyone feels valued and is happy. It would be beneficial to find displaced employees another position, but that is not always possible. This would go along ways to reassure customers as well, as it shows the company is willing to make concessions to keep the customer happy and taken care of. Finally, Custom Snowboards could acquire SnowFun, Inc. Custom Snowboards would then have to buy out SnowFun and acquire full ownership of the products, materials, and debts they have. SnowFun is requesting $720,000 from Custom Snowboards to acquire full rights to the company. The net present value of SnowFun is $732,522. An increase of $12,522 would be seen for Custom Snowboards over a fiveyear period. This option would increase the earnings per share to $2.40. CUSTOM SNOWBOARDS As mentioned with the merger option, Custom Snowboards would gain invaluable contacts from SnowFun and gain insight on the European snowboard market that they would not otherwise have. The company would increase earnings per share for stockholders. They would have factory and production equipment readily available to start production right away without delay. They would gain product development knowledge from what SnowFun had previously completed and this could lead to refined processes of current products. However, a merger would leave the company with excess employees. This can lead to disgruntled employees and low staff moral. Customers may be aware of this and shy away from purchasing products from this newly merged company. Custom Snowboards will need to ensure everyone feels valued and is happy. It would be beneficial to find displaced employees another position, but that is not always possible. This would go along ways to reassure customers as well, as it shows the company is willing to make concessions to keep the customer happy and taken care of. Also, it is hard to integrate two companies and acquire the debt from SnowFun. This could harm the company if they do not budget for this newly acquired debt. Custom Snowboards best option is to decline the offer to acquire SnowFun, but to merge the companies. The costs to start a new company would be limited and there would be a readily accessible building, contacts, product knowledge, market  knowledge, and increased earnings per s hare. Not all employees will be able to retain their job, however the employees that remain will be the most knowledgeable regarding the product to boost sales and revenue. This will help the company attain the success it hopes to achieve. CUSTOM SNOWBOARDS 32 B6. Presentation The recommendation was made to initiate a merger between Custom Snowboards and SnowFun, Inc. The financial information reviewed shows the companies will produce an increase in capital from net sales and reduce production costs. This will provide the stockholders with a higher return on investment due to growth after the merger has taken place. Merging will not require Custom Snowboards to acquire a large amount of funding or long-term debt since a stock exchange will take place. The earnings per share for Custom Snowboards will increase $0.92 and SnowFun $0.20. A total of 500,000 shares will be available after the merger. SnowFun will receive 3 shares to every 1 share that Custom Snowboards receives. There are four structures to review: Long term debt, 30% long term debt and 70% common stock, 80% long-term debt and 20% common stock, and no long-term debt (common stock only). Custom Snowboards hopes to obtain $1,000,000 through one of these types of structure. The earnings per share for each year based on earnings before interest and taxes from the European forecasts for year 15 through year 19. Earnings Per Share Year 15 Year 16 Year 17 Year 18 Year 18 Year 19 Long-Term Debt 0.034 0.203 0.407 0.589 0.720 1.953 30% Long- Term/70% Stock 0.068 0.130 0.204 0.270 0.318 0.99 80% Log- Term/20% Stock 0.052 0.165 0.300 0.422 0.509 1.448 No Long- Term Debt (Stock Only) 0.072 0.121 0.179 0.231 0.268 0.87 CUSTOM SNOWBOARDS 33 The long-term debt option would be the second choice for expansion for Custom Snowboards should they not want to merge. The total earnings per share in year 19 would be $1.953 and higher than any other option. The long-term debt would also have consistent payments monthly that would be easier to budget and to forecast sales against. Custom Snowboards is a viable company that is growing and making advances. Areas of improvement do need to be made to continue this progressive growth, but they are in a position to expand into Europe. Thanks to financial responsibility they are in the position to take on debt if necessary to make this expansion happen. A merger with SnowFun, Inc. would provide virility to the company and provide a positive base for continued growth. CUSTOM SNOWBOARDS 34 References Hunt, J. 2013. What determines a Company’s Profitability? Retrieved on May 11, 2014 from http://smallbusiness.chron.com. Investopedia. 2013. Activity-Based Costing – ABC. Retrieved on May 2, 2014 from www.investopedia.org. Investopedia. 2013. Operating Income. Retrieved on April 30, 2014 from www.investopedia.com. Johnson, R. 2013. Traditional Costing Vs. Activity-Based Costing. Retrieved on May 3, 2014 from http://smallbusiness.chron.com. Joseph, C. 2013. Advantages & Disadvantages of Customer Service Jobs. Retrieved on May 11, 2014 from http://work.chron.com. Kennon, Joshua. 2013. Cost of Goods Sold – COGS. Retrieved on May 11, 2014 from http://beginnersinvest.about.com. Markgraf, B. 2013. How to Increase the Net Operating Income Without Increasing Sales Retrieved on May 7, 2014 from http://smallbusiness.chron.com. Stone, R. 2013. Language Means Business. Retrieved on April 30, 2014 from http://www.strategy-business.com.