If You Liked The Star Wars Trilogy, Believe Me, You Will Love This Wel

If you liked the Star Wars trilogy, believe me, you will love this well-written novel. This work is one of the most remarkable and page turning book that I have ever read. X-wing: Wedge's Gamble by Michael A. Stackpole is a worthwhile and I highly recommend reading this. This tale takes place five years after the events of the movie ?Return of the Jedi? from the revolutionizing Star Wars trilogy. The plot of this grand novel is that the now strong Rebel Alliance schemes a strategy to take over Coruscant, the Imperial seat of the Galaxy. This book begins incredibly fast paced with lots of action where Corran Horn, part of the infamous Rogue Squadron loyal to the Rebels, fights his way out of a trap while on patrol. As the novel progresses, Wedge Antilles, leader of Rogue Squadron, is called upon by Admiral Ackbar, military leader of the Rebels, to infiltrate Coruscant and bring the dark world's protective shield down. With the invincible shield down, it will make way for the Rebel fle et to attack and hopefully take over the evil world and dissolve even more of the now-decaying Empire. Wedge chooses to accept this stalwart mission along with his Rogue Squadron. The prestigious Rogues consist of Commander Wedge Antilles, Captain Tycho Celchu, Captain Aril Nunb, Lieutenant Corran Horn, and Lieutenant Pash Cracken, all top notch pilots. The story really begins to heat up after the daring pilots infiltrate Coruscant. The ruler of the planet and all Imperial Forces, Ysane Isard, knows about the invaders and wants the Rebels to take over Coruscant because little do they know, Isard has planted a deadly virus among the civilians and the disease will spread if and when the Rebels take over the dark city. Ignorant but powerful, the Rogues continue on with their perilous mission and unknown of the danger that awaits them. Just when you think the story will end, it continues with extravagant detail and ends with a thrilling conclusion that will leave you stunned and overwhe lmed. As I have voiced before, I enormously recommend and applaud this honorable novel. Rating (One is the worst, five is the best) *****

How to Learn from Your Math Mistakes

How to Learn from Your Math Mistakes The most powerful learning experiences often result from making mistakes. I usually address my students with the above phrase after handing out marked papers, tests and exams. I then provide time for my students to carefully analyze their errors. I also ask them to keep a running record/journal of the patterns of their errors. Understanding how and where you go wrong will lead to enhanced learning and improved grades- a habit often developed by strong math students. Its not unlike me to develop my next test based on a variety of student errors! How often have you looked over your marked paper and analyzed your errors? When doing so, how many times have you almost immediately realized exactly where you went wrong and wished that if only you had caught that error prior to submitting your paper to your instructor? Or, if not, how often have you looked closely to see where you went wrong and worked on the problem for the correct solution only to have one of those A Ha moments? A Ha moments or the sudden enlightening moment resulting from the newly discovered understanding of the misconceived error usually means a breakthrough in learning, which often means that youll rarely repeat that error again. Instructors of mathematics often look for those moments when they are teaching new concepts in mathematics; those moments result in success. Success from previous errors isnt usually due to the memorization of a rule or pattern or formula, rather, it stems from a deeper understanding of why instead of how the problem was resolved. When we understand the whys behind a mathematical concept rather than the hows, we often have a better and deeper understanding of the specific concept. Here are the three common errors and a few remedies to address them. Symptoms and Underlying Causes of Errors When reviewing the errors on your papers, its crucial that you understand the nature of the errors and why you made it (them). Ive listed a few things to look for: Mechanical errors (transposed number, sloppy mental math, hurried approach, forgotten step, lack of review)Application errors (misunderstanding of one or more of the required step(s)Knowledge based errors (lack of knowledge of the concept, unfamiliar with terminology)Order of Operations (often stems from rote learning as opposed to having a true understanding)Incomplete (practice, practice and practice, this leads to having the knowledge more readily available) Success Is Failure Inside Out! Think like a mathematician and learn from your previous mistakes. In order to do so, I would suggest that you keep a record or journal of the patterns of errors. Mathematics requires a lot of practice, review the concepts that caused you grief from previous tests. Keep all of your marked test papers, this will assist you to prepare for ongoing summative tests. Diagnose problems immediately! When you are struggling with a specific concept, dont wait to get assistance (thats like going to the doctor three days after breaking your arm) get immediate help when you need it, if your tutor or instructor isnt available - take the initiative and go online, post to forums or look for interactive tutorials to guide you through. Remember, problems can be your friends!

Issues to consider when a neighborhood may be exposed to Hazardous Case Study

Issues to consider when a neighborhood may be exposed to Hazardous Emissions - Case Study Example "(Sacramento, California Board of Waste Management, 1982) This means that California must either find new land to bury garbage, or develop other means of disposal of waste that does not consume the state, land of the participant. Of paramount importance is the effect of such a facility will have on property values near the site. Business office space and residential land that are at least in vision, hearing, smell, or the distance of the project will likely face a decline in property values. On the other hand, energy from waste facilities in themselves relatively offer few jobs. Theoretically, an installation of waste to energy has a differential impact on the economic community: residents living near the plant to incur decline in property values that outweigh the benefits, while the community on a whole can reap greater economic benefits and suffer little. Health Risks There will always be potential risks to health posed by waste facilities. The problem of leaching eaten leak persis ts. Ash residue from waste to energy facilities may warrant concern. Waste to energy facilities are also a potential risk to health in terms of air pollution. Emissions from a plant can include varying amounts of nitrogen oxides, carbon monoxide, sulfur dioxide, hydrocarbons and particulate matter and other substances for which standards of health have not yet been established. Aesthetic factors The aesthetic impact of such a facility is regularly greater concern for those living near the proposed site or real. Aesthetic factors include installation, appearance of the participant, odor, litter, noise and congestion that accompanies the transport of waste. Although aesthetic factors are the most easily controllable problems faced by technical projects related to waste, they are also the problems that come first in mind, forming the public, AOS immediate impression of the facility. Social perceptions The feeling of being dumped on, seems to be the greatest source of opposition to the proposed conversion of waste into energy. This feeling manifests itself in two separate complaints: the social stigma of living near a waste facility, and the resentment of the host community to serve as a dumping ground for garbage from other communities. Besides the embarrassment of what others will think, residents may detect a nearby site as a recognition of lower social status. Conclusions Although the waste to energy facilities have little in common with hazardous waste sites, the public often does not perceive it that way, as evident in the above literature. Public opposition has become the biggest obstacle to the success of projects sitting Waste-to-Energy in California. Many reasons for this public concern is rooted in past experience with poorly managed waste facilities, landfills, particularly hazardous waste as people in the literature have been experiencing these issues from the past 20 years. Other complaints from the public are not so easily resolved. The most problem atic of those complaints is oriented around the inconveniences and annoyances management facility provides homes nearby. There are methods to reduce the costs imposed on local residences. Unloading 50 trucks a day adds a good amount of waste on the site. Most important, of course, is to select at least one site that offends

The Role of Integrity in Criminal Justice Essay Example | Topics and Well Written Essays - 500 words

The Role of Integrity in Criminal Justice - Essay Example Most people will never be involved directly or indirectly with district attorneys, judges or probation officers. Police officers are therefore the â€Å"face† of the criminal justice system for most people. Integrity in their actions is necessary so that the credibility of the criminal justice system in America can be maintained (Klockars, 2006). Corruption, cronyism and a lack of integrity plague police forces around the world. In some countries, the last person you want to interact with is a police officer because any interaction will include threats of imprisonment or the solicitation of bribes. Police officers are charged to do the right thing according to duty. Everyone working in a professional capacity within the criminal justice system needs to uphold their duty in an ethical manner, but police officers have a special responsibility to do this. The enforcement of laws needs to happen in a manner that is fair and unbiased. Any lapse in integrity makes this impossible. A breach in integrity creates an inherently unjust situation. Police officers are often forced to make difficult decisions. Acting with integrity is a sure guide when the time comes for making hard choices. A lack of integrity for a police officer can be manifest in many ways. One way is through a biased application or enforcement of the law. Holding different groups within the community more accountable for breaking laws than other groups is unethical and lacks integrity. These divisions can be made along the lines of race, gender, sexual orientation, income level and age. Police officers need to keep in mind that proper enforcement of the law can not be dictated by membership in a certain group. When laws are enforced this way, integrity is lacking. Another profound breach of integrity police officers may be involved in is through the taking of bribes or hush money. While this is the norm in some

The Siete Partidas in regards to the Jewish people in Iberia Term Paper - 1

The Siete Partidas in regards to the Jewish people in Iberia - Term Paper Example They also introduced Islam and new ideologies. The end result was constant conflict and stratification. The Muslim Spain (al-Andalus) had to tighten their political and military system so as to ensure an intensive and effective regime that would gain control of the earlier occupants, with minimum opposition, attacks and revolts. Having gained dominion over the peninsula, the al-Andalus sought to introduce the political and administrative systems and structures that they were conversant with those that were already established in the East. For instance, they destroyed the monarchy that characterized the Visigothic system and substituted it with emirate system3. Under this system, the al-Andalus was to form an administrative unit, with an Arab military ruler from amongst the Muslims in Muslim Spain. Technically, this administrative unit would be said to be a sub unit under Damascus at first, as the ruler pledged loyalty to the Umayyad caliph (the overall ruler) in Damascus. However, a few years later, this emirate gained its independence when `Abbasids took over leadership, killed members of the Ummayad family and defied the traditional requirement of pledging loyalty to the Caliph in Damascus. However, some Muslims, in theory continued to recognize the caliphate of Baghdad. The emirate was divided into provi nces, each headed with its functionaries. Under Emirate system, the overall political head that would be in charge of the entire Muslim Spain was called the amir. The final administrative authority was also vested in the amir. As administrative and political head, Amir made all the political; and administrative decisions that pertained to the provinces. He was also in charge of appointing all the functionaries. He also decided on issues pertaining to taxation, like the quantity of tax to be levied at particular place and

Facts About Burger King Holdings Marketing Essay

Facts About Burger King Holdings Marketing Essay Burger King (BK) is the second largest fast food hamburger restaurant (FFHR) in the world with operations in 74 different countries. Its major competitors are McDonalds, Subway and Yum! Brands. BK was ranked among Americas 1,000 largest corporations by Fortune Magazine in 2008. Further, Burger King is listed among one of the Top 100 Best Global Brands. History The history of the brand Burger King refers to 1959, when J, M and D.Edg purchased the firm from the original founders. Company was run as an independent entity for eight years, eventually expanding to over 250 locations in the United States, but in 1967 due to some reasons, baking giant Pillsbury repurchased Burger King. In 1978, when McDonalds executive Donald N. Smith came to renovate the company BKC was prominantly modificated in terms of its franchise agreements, strategy, menu, and restraunt look out. But Poor operating performance and ineffective leadership weight down the company during many years, even after Diageo, the global alcoholic beverages company baught Burger King in 1989. Eventually, Diageo damaged the company by neglecting the brand, and major franchises were driven out of business and its total value was significantly decreased. In 2002 Diageo divested itself of the money-losing business and sold Burger King to a group of investment firms lead by TPG Capital. Aft er this acquisition, many positive changes started to happen to Burger King. One of the major issues was first public offering in 2006, which was highly succefful. But there were some spots on Burger King reputation. The case of unsauccessful Buck Double campaign, which promoted $1 burgers, provoking the lawsuits from franchisees, unhappy with selling at a price lower than production costs. Those events somehow were reflected on the BKC stock behavior. By the time the ordinary stock of Burger King was selling at $16 per share, another interesting and totally unexpected thing shocked the global business community. On September 2, 2010, a Brazailian company 3G Capital Management LLC. Announced decision to acquire all the stocks of Burger King for $24.00 per share, or $3.26 billion in aggregate including Burger Kings outstanding debt. As the purpose of this report is to analyse the current state of the company and give recommendation upon this recent transaction, further in this paper we will answer whether it was good or bad acquisition. Key People of Burger King John Chidsey, Ex-CEO, currently is a Co-Chairman of the Board BK Inc. He joined Burger King Corporation as an Executive Vice President and the Chief Administrative and Financial Officer in March 2004. In fact, his effective leadership and strategic thought brought company to a quite successful level of performance. His wide range of responsibilities included monitoring franchise and company operations, finance, corporate strategic planning, and oversight of the annual budget, the information technology function, risk management, and corporate procurement, as well as the Franchise Financial Restructuring Program (FFRP). Mr. Chidsey obtained Doctor of Jurisprudence and MBA from Emory University. Therefore his academic background in law and business, overall professional skills and previous experience bring unprecedented value to the company. As from the recent news, John Chidsey is going to resign from the board and will be employed with BKC until the April 18, 2011. Ben Wells CFO and Treasurer of Burger King, who has more than 25 years of experience in financa. He repots directly to CEO and proves himself as a key member of the executive leadership team. Before joining BKC he held a position of vice president and corporate treasurer at Compaq Computer Corporation, when he successfully led the finance team in stabilizing finance and accounting operations.He also was employed by such famous corporation as British Petroleum and Hewlett Packard. Possessing degree in economics and business administration (University of Missouri, Texas AM University, Canisius College), he is capabable for building a world-class treasury organization and developing capital structure and risk management programs for the global organization. Alexander Behring Co-Chairman of the Board BK Inc. and Managing Partner of 3G Capital Management LLC. Experienced engineer and successful private equity manager, he is the one, who was behind the $4bn takeover of BKC. Becoming one of the inflluential investors of Brazil, he started and lead America Latina Logistica, the biggest railroad and logistics corporation in Latin America. Mr. Behring holds MBA from Harvard Business School and Bachelors Degree from Pontifà ­cia Universidade Catà ³lica do Rio de Janeiro. Bernardo Hees new CEO of Burger King Inc., since September 2010. Previously, he was Chief Executive Officer of America Latina Logistica (ALL), as a successor of Alexander Behring, since January 2005 and served on its Board of Directors. B. Hees is an experienced executive with an impressive track record of enhancing performance, managing a team that drove strong gains in both revenues and profitability. He obtained MBA from the University of Warwick and passed Owners-Presidents Management program at Harvard Business School. According to his sound resume and reputation, he can be fairly considered as an excellent steward of the Burger King brand, inspired by the intention to take company to the next level of competition in the U.S. and worldwide. Business Model of Burger King: A business model is a plan implemented by a company to generate revenues and make profits from the operations it performs. (Investopedia, n.d.). Burger King uses the franchise business model to generate profits. Under the franchise arrangement, the franchisees invest in the equipment, signage, seating, and decor of the restaurant, while the company owns or leases the land and building. The company generates revenues mainly from three sources: sales at the company restaurants, royalties and franchise fees, and property income from certain franchise restaurants that lease or sub-lease property from the company (Datamonitor, 2010). Resources of the Company Reagrding the resources available for sustainable comptitive advantage, those resources are classified into tanbgible and intangible. As Burger King is a well-establiched global corporation, it has formulated very strong basis for its worldwide operations. In fact, despite of performing in the fast paced indutsry and facing the risk of once to become unclaimed due to unhealthy food provision, as consumers may change their preferences, BKC definitely creates a unique line of products. For instance, famous Whopper sandwich, CroissanWich, flame-broiled hamburgers and etc. Burger King proves itself as genuinly global company by localization of products versions by adding ingredients such as teriyaki or beetroot and fried egg to the Whopper; beer in Germany, Italy and Spain; and halal or kosher products in the Middle East and Israel. They property counts for almost 12 000 restaurants worldwide, of which 60% is concentrated in US and Canada, and 40% is internationally spread. Regards the intangible assets, highly quilified and experienced executive management team is a great value to Burger King, promising effective operations and high and stable earnings growth. While globally recognised brand Burger King is another powerful asset to corporation, as well as reputation and products assocated with it. And last, but not the list is the Knowledge, which mainly brought the Burger King fame for its products. They definitely possess unique production technology, which is constantly updated and successfully implemented. Strategy Analysis Business Strategy Analysis From pdf Business Strategy Analysis helps us evaluate the sustainability of the firm. BK strives to implement the following elements into its business strategy in order to grow. Further drive sales growth: BK is attempting to increase sales growth by enhancing guest experience, expanding hours of operations and emphasizing on restaurant reimaging program. All this is expected to result in higher sales and traffic in these restaurants and yield strong cash on cash returns. Enhance restaurant profitability: BK endeavours to enhance restaurant profitability by leveraging their fixed cost structure by introducing higher margin products and creating efficiencies through improved speed of service and equipment. Further, BK utilizes market based pricing model to achieve optimal pricing in the highly competitive market environment, thus making it a market follower. Employ innovative marketing strategies and offer superior value and quality: BK employs innovative and creative marketing strategies to increase their restaurant traffic and comparable sales. BKs whooper has been one of the best known products in the fast food industry. In addition, BK has also launched AngryWooperTM sandwhich, BK Burger Shots and BK Breakfast ShotsTM in the U.S., the King DealsTM in Germany, the U.K. and Spain and the Come Como ReyTM (Eat Like a King) every day value menu in Mexico. Further, their advertisement campaigns have always created a buzz and improved their visibility in the market. Expand our large international platform: Presently, BK is concentrated in the US and Canadian markets only, therefore they have a significant growth potential in international arena. BK has realized this and has developed a detailed global development plan to accelerate growth over the next few years. However, entering into international markets is tough because McDonalds already has its presence in almost all countries of the world. Further, BK fails to mention the strategy with which they plan to enter international markets. This maybe because they do not want to divulge their strategy to their competitors, or because they do not have a strategy which can provide them a competitive advantage over McDonalds. Use proactive portfolio management to drive growth: BK intends to use proactive portfolio management to drive growth and optimize their Company restaurant portfolio and franchisee participation in new and existing markets, while maintaining our 90/10 franchise to Company restaurant ownership mix. Between April 2008 and May 2009, BK acquired 128 new restaurants in parts US and sold 39 Company restaurants to new and existing franchisee. In addition, they closed under-performing restaurants in UK and sold certain Company restaurants in Germany and Canada to their local franchisees. Thus, the business strategy focuses on driving sales in existing markets and striving for presence in international market. However, almost all quick service restaurants that strive for greater profitability follow a similar strategy. If BK wishes to have a greater market presence, then it has to keep coming up with new, innovative, and creative products and marketing campaigns as these are the only ways by which they can differentiate their brand. Further, we carried out the industry analysis (See Appendix X), and found that per se the industry has a good market potential. Moreover, as the global economic environment improves the industry would again be profitable as the consumers would again become price insensitive and companies coming up with new, innovative and affordable menus would have more power than the buyers and suppliers. In addition, the industry is forecast to increase by 19.2 % till 2014 and there is a growing demand of fast-food in the emerging markets like India, China, and Indonesia etc. Therefore, the industry has good future prospects if tapped in an appropriate manner. Based on the SWOT analysis (see Appendix X1), it can be discerned that the company understands that the only way to increase its profitability is through constant innovation and expansion into new international market; and given the brand reputation, the franchise mix and robust financial performance, we think the company has the capability to grow profitably in the future. 5. VALUATION The value of any security is determined by its quality and profit potential. The economic environment and industry in which firm operates also have inevitable impact. Hence, we valued of BKC by incorporating these factors into the analysis of BKCs stock value. It is well known that it is very subjective to valuate any company and its stock as the market is changing constantly and the market price heavily depends on peoples expectations and feelings. The good example might be Burger Kings market price that soared from $16.77 to $13.64 after the acquisition announcement http://www.wikinvest.com/stock/Burger_King_Holdings_(BKC)/WikiChart (Appendix H). Most analysts use various valuation models to calculate whether a stock is overvalued or undervalued. Those models are just generally accepted ways of assessing a companys stock and make a recommendation. Thus, analysts should not rely on the results of these models only but also take into consideration performance of existing competitors. Using comparables, i.e. ratios of identical companies and their financial performance indicators, as an addition to the valuation analysis should give a better understanding of company health and what it stands for in the market. For that reason, we have imple mented several valuation models, including Dividend Discount Model (DDM), Market premium (MP) and Residual Earnings Model (RE), and compared BKCs performance to its major competitor McDonalds using financial ratios. It should be noted that for the sake of comparison, we have taken the financial data available at the end of fiscal years for BKC and McDonalds i.e. June 30th, 2010 and December 31st, 2010, respectively. Further, the spot stock prices are taken as of June 30th, 2010. 5.1 Performance [I THINK PERFORMANCE SHOULD GO IN HERE] 5.2 Dividend Discount Model Starting from year 2006, when Burger King was first listed on the New-York Stock Exchange, the company has paid the fixed dividend of $0.25  [1]  per share per year (Appendix A). Therefore, we do not expect any future dividend growth and assume zero growth for DDM valuation model. For simplicity, we use DDM-perpetuity and take required rate of return (k) as a discounting factor (r). Therefore, V = D/r à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦ (1) According to The Capital Asset Pricing Model (CAPM), required rate of return (k) is calculated as follows: k = rf + B(rm rf) à ¢Ã¢â€š ¬Ã‚ ¦.. (2) where, rf = risk-free rate, B = beta, (rm rf) = market risk premium We have used risk-free rate of 2.92% from company report (Burger King Holdings, 2010, p.87), company beta of 0.80 was taken from on-line source (ADVFN, 2011) and market risk premium 6.75% from Journal of Financial Economics, which is a bit outdated but we believe that this type of market is even riskier then it was 10 years ago (Fama, 1997, p.172). Substituting the values in equation 2, we get k = 2.92% + 0.80*6.75% = 8.32% As mentioned before, since r = k, substituting the value of r in equation 1, we get V= 0.25/0.0832 = $3.00 (The value of BKCs share) However, as of June 30th, 2010 market share price of BKC was $16.84/share (Wikinvest, 2011). Further, in order to assess our valuation, we valued the share price of McDonalds share and got a valuation of $36.28 (for calculations, see Appendix G). However, as of June 30th, 2010 the share price is $65.87. As, McDonalds is more popular brand than BK, and its stock price is twice as high as the valuation figure, whereas BK King is way behind McDonalds but its price is five times higher than the calculated value. To investigate the reliability of this result we calculate the market premium of the BKs share. 5.3 Market Premium Model The measure of stockholders equity on the balance sheet typically does not reflect the intrinsic value of what the equity is worth (Penman, 2003). There is a definition of intrinsic value which states that it is the actual value of a company or an asset based on an underlying perception of its true value including all aspects of the business, in terms of both tangible and intangible factors. This value may or may not be the same as the current market value (Investopedia, 2011). For that reason it is meaningful to see what extra price, or premium, the market pays for a particular security. In order to calculate market premium we use the formula (Penman, 2003): Market Premium = Market Value of Equity Book Value of Equityà ¢Ã¢â€š ¬Ã‚ ¦.. (3) Calculating the market value of BKC as of June 30, 2010, Market Value = Price per share*Shares Outstanding à ¢Ã¢â€š ¬Ã‚ ¦. (4) = $16.84*135.4m=$2,280.136m The Book Value of BKC = Total Shareholders Equity = $1,128.4m (Appendix C). Therefore, Market Premium = $1,151.736m. With Shares Outstanding = 135.4m, the Book Value per Share (BVPS) = $8.33 and Premium = $8.51. Indeed, the premium constitutes 102% over the book value. As compared to McDonalds, with 1,072m shares outstanding (Appendix D), McDonalds has a BVPS of $12.25 and the premium of $53.62, which is 438% higher than its book value. Thus, we may conclude that market is ready to pay quadruple premium for MCD, which indicates a great brand awareness and customer loyalty; however, they are still ready to pay twice for BKCs shares, which is a good sign for the stock evaluation. 5.4 Residual Earnings Model The residual earnings model relies on book value, which represents shareholders investments into the firm and measures value added to the investments. In other words, the book value of equity is taken and discounted back potential abnormal earnings are added to it. These earnings are returns to shareholders above their required rate of return. These earnings are important because otherwise the shareholders would have no objective to invest into the company if it break-evens at the minimum rate of return (Penman, 2003). Value = Book value + Premium à ¢Ã¢â€š ¬Ã‚ ¦. (5) or Value of common equity (VE0) = B0 + RE1/re à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦ (6) where, re = required rate of return, RE = Residual Earnings for Equity Now, Residual Earnings = Comprehensive Earnings (Required Return for Equity * Beginning-of-Period Book Value) à ¢Ã¢â€š ¬Ã‚ ¦.. (7) BK reported $165.8 million of comprehensive income on June 30, 2010 (Appendix B) on book value of $974.8 million. If BKs shareholders required a return of 8.32% in June, 2010; then its 2010 residual earnings were: Residual Earnings = $165.8 (8.32%*$974.8) = $84.70 million The very existence of the residual earnings gives us a sign that Burger King is a good investment to get extra return on invested funds. Further, substitutiting the values in equation 7, we get: Value of common equity (VE0) = $974.8 + $84.70/.0832 = $1,992.83 million VE0/share = $1,992.83/135.4 = $14.72 Assuming that RE remain unchanged (g=0%), then the calculated the intrinsic value of BKs share of $14.72 is close to market price of $16.84. Obviously, market was aware of the existing premium and recognized it by setting market price at that level. 5.5 Summary The three valuation models have revealed Burger Kings financial performance from different angles. For the reason that todays market is different from yesterdays, the DDM model is not really appropriate for security valuation, because contemporary market is mature and, as we have observed, dividends do not grow along with growing earnings as used to be in the past. However, this model was implemented just to see the consistency and get a better understanding of the value of the stock. The market premium model gave us a good sense of what market is ready to pay for the BKs share and McDonalds share. Further, the residual earnings model is said to be more reliable as compared to the other two models because it uses book value of the equity as well as market premium model. Overall, it can be seen that BK per se has performed well in the market; however it has been far behind its main competitor McDonalds. 6. RISKS Burger King is exposed to a variety of risks (3G Capital, 2011). The most prominent and important risks come from internal characteristics of the firm and market-determined factors. Internal characteristics of the firm include: Business risk: This risk might arise as a result of decreasing demand due to changes in consumer preferences, possible suppliers delays or adverse economic conditions. Also, the business model is based on franchising contracts, so franchisees financial strengths and ability to manage increasing costs is also subject of risk. Financial risk: BK has long-term and short-term debt outstanding, so it should have enough operating cash to meet these obligations. According to the notes to companys financial statements, BK uses derivative instruments, such as interest rate swaps and foreign currency forward contracts, which imply a higher risk exposure. Legal risk: As every food company, BK is in charge of risk related to food safety and toys as promotional instruments in their restaurants, as well as any legal judgments and pressures from competitors. Country risk / Exchange rate risk: BK is an international company, therefore fluctuations in foreign currencies and adverse government regulations create substantial risk exposure. Reputation risk: Customers in FFHR industry are very sensitive to the reputation and brand awareness of the company. Market-determined factors include: Systematic risk: This is an unmanageable risk, which can arise as a result of recessions and wars. Analyzing the risk associated with the functioning of the company, it can be discerned that BK acknowledges that there are some risks associated with the business. And therefore, has some measures such as following a market based pricing model, using trusted suppliers, etc. for overcoming these risks (Annual report, 2010). Further, BK is still vulnerable to the unknown risks such as exchange rate risks and systemic risks. However, these risks are faced by all companies. It is just a matter of the way in which they respond to these risks that determines how they fair in the market. As for BK, the impact of the systemic risk is has been high as compared to its competitor McDonalds (Datamonitor, 2010). However, they have realized this and have tried to overcome these setbacks by implementing promotional, other price discounting actions, and closing non-profitable company restaurants. (Annual report, 2010) 7. CONCLUSION Based on our analysis of companys background, strategy and people, as well as industry analysis and financial performance valuation we discern that the financial performance of BK was stable and improving during last five year, and the valuation revealed that the market believes that Burger Kings stock is worth investing. Therefore, we can conclude that the company is financially healthy and hence the acquirer, 3G Capital, made a good decision. However, because the new management does not have any experience in the food industry and adding to this the current economic situation, Burger King might be in a vulnerable position right now. Further, in the industry analysis, on one hand, there was a threat of customers switching to the healthier options, which might imply a risky acquisition decision by 3G Capital. And on the other hand, there was a positive outlook towards the quick service restaurant industry, which is expected to grow at a rate of 3% per year. Analyzing the annual repor t of BK, we realized that BK is aware of these issues and has been trying to improve them by introducing healthier meals and innovative marketing campaigns. Moreover, the strategy of the company is very ambiguous. The strategies and goals of BK are very generalist and unclear how the management is going to achieve these. However, the new management might set a new and a sound strategy and provide necessary resources for achieving it. In conclusion, in light of the business strategy and the comparison of the performance of the company with its competitiors , we think that the BKs acquisition was hugely overvalued. However, because of the stable financial performance and positive industry outlook it was a good acquisition and if the new management is able to tap the potential in the existing and new markets in a appropriate manner then the companys growth potential is huge. [PLEASE FEEL FREE TO ADD/AMEND SOMETHING IN CONCLUSION] APPENDIX A Consolidated Statement of Income Burger King Source: Burger King Holding, Inc. Form 10-K, 2010 APPENDIX B Consolidated Statement of Stockholders Equity Burger King Source: Burger King Holding, Inc. Form 10-K, 2010 APPENDIX C Consolidated Balance Sheet Burger King Source: Burger King Holding, Inc. Form 10-K, 2010 APPENDIX D Consolidated Statement of Income -McDonalds Source: McDonalds Corporation, Form 10-K, 2010 APPENDIX E Consolidated Statement of Stockholders Equity -McDonalds Source: McDonalds Corporation, Form 10-K, 2010 APPENDIX F Consolidated Balance Sheet -McDonalds Source: McDonalds Corporation, Form 10-K, 2010 APPENDIX G Dividend Discount Model McDonalds For valuation of McDonalds share, we have used the same risk-free rate of 2.92% and market risk premium of 6.75%, company beta of 0.49 was taken from the same on-line source (ADVFN, 2011). Substituting the values in equation 2, we get k = 2.92%+ 0.49*6.75% = 6.23%. The dividend per share was virtually stable; therefore we took the figure of $2.26 per share, as of 2010. As, r = k, substituting the value of r in equation 1, we get V = 2.26/0.0623 = $36.28 Therefore, as of June 30th, 2010 market share price of MCD was valued using the DDM model as $36.28, whereas the spot share price was $65.87 per share. It should be noted that for the valuations using the DDM model, we take the same risk-free rate and market risk premium, because companies are competing in the same industry, however beta is different because MCD is more stable than BKC which is why the risk of volatility is lower. McDonalds price history Source: Morningstar investment research, 2011 APPENDIX H Price History -Burger King Source: Wikinvest, 2011 Industry Analysis: Using the Porters Five Forces Model (Datamonitor, Industry analysis) Porters five forces model helps in analysing the profit potential of an industry which would eventually help in determining a firms chances of generating long-term profits. (book) Bargaining power of buyers: The economic recession has strengthened the buyer power as the industry players try to secure price sensitive consumers using competitive pricing strategies. However, due to the sheer convenience of having fast-food makes fast-food more important to the consumer than a simple source of food. Therefore, the buyer power is assessed to be moderate. Bargaining power of suppliers: For a fast food company to make profits, it is vital that the company has reliable suppliers that offer food of marketable quality and at a low margin. However, a large number of these suppliers serve other kinds of foodservice and cost service customers, thereby decreasing their dependence on fast food players. Therefore, the supplier power is considered to be moderate. Threat of new entrants: As large capital reserves are not required for setting up a single, independent fast food outlet, the entry into the global fast food market is easy. However, to build a global brand requires precise market knowledge, an excellent management team, and an admirable brand reputation, therefore the threat from new entrants is assessed to be moderate. Threat of substitute products: The substitutes for fast-food include other forms of profit foodservice and also food retail (ready meals or ingredients for home cooking). However, these are considered to be unhealthy and take time in preparing, whereas convenience and availability are considered to be the main drivers for choosing fast-food. Therefore, the threat of substitutes is assessed to be moderate. Rivalry among existing firms: Rivalry in the fast-food industry is considered to be intense as the fast food markets can be very concentrated. The burger segment is close to being a Burger-King/ McDonalds duopoly. Further, prices especially of value meals and brand power form the greatest sources of competition in the fast-food market. SWOT Analysis: The SWOT analysis helps us determine a companys strengths and weaknesses, and then helps us evaluate whether the company has the ability to effectively exploit its opportunities and overcome its threats. Adapted from (Datamonitor, 2010) Strong market position and brand equity BK enjoys a strong market position and possesses an established brand reputation. This has enabled it to gain economies of scale, increase its bargaining power, and enter international markets. (Datamonitor, 2010) High franchise mix The company has franchise stores and company restaurants in the ratio of 90-10. This restaurant ownership mix provides BK with a strategic advantage as the capital required to grow and maintain the BK system is funded primarily by franchisees, while the Company restaurants give it a sizeable base to demonstrate credibility. (pdf) Innovative marketing campaigns and advertising to provide greater visibility BK uses innovative marketing, advertising and sponsorships to drive sales and generate restaurant traffic. The main target market of BK is the 18-35 year old male with a love of fast food. (Datamotiner, BKcase study). Therefore, its advertisements are made to appeal to this segment. Further, BKs advertisements campaigns such as Whopper Sacrifice campaign and Cheat on beef campaign help the company gain better visibility which helps it to have an impact on the revenue generating capacity. Weaknesses Declining comparable sales growth BK saw a decline in its comparable sales growth in 2009. This was mainly because of continued adverse macroeconomic conditions, higher unemployment, more customers eating at home, and heavy discounting by other restaurant chains. This only means that the management has to focus on various product offerings that cater to the value conscious customers during times of poor economic conditions. Concentrated operations-in terms of geographic presence and dependence on selected distributors increases business risks Although BKC operates in 74 countries, its operations are heavily concentrated in the US. Approximately 61% of its restaurants are located in the US. US and Canada account for about 68.7% of the total revenues, whereas BKCs competitor McDonalds generates only 35% of its total revenues from US. Concentrated operations increase the business risk of the company and impact its results of operations and thus its financial condition. Opportunities Expansion in existing and new markets BKC should focus on expanding into existing and new markets and the company has taken steps to expand into international markets. 2009 saw a 28% rise in new restaurants in international markets. The company also entered two new in

The Meaning And Definition Of Bpr Information Technology Essay

Business procedure reengineering, as a term and as a pattern, has a tarnished history. Reengineering become really popular in the early 1990 ‘s, nevertheless, the methodological analysis and attack was non to the full understood nor apprehended. Many times, betterment undertakings labeled with the rubric â€Å" BPR † were ill planned and executed. Employees and organisations cringed at the idea of another â€Å" BPR † experience. The term itself is being used less, or is being altered so that these types of enterprises are non associated with the â€Å" BPR † of the yesteryear. Despite this maltreatment of the pattern and tarnished name, the pattern of redesigning concern procedures and the associated engineering and organisational construction is more popular today than of all time. Companies continue to review and basically alter the manner they do concern. Competitive force per unit area and a sulky economic system provide the effectual tool for organisations endeavoring to run as efficaciously and expeditiously as possible.Learning aim:The chief of fixing and showing this study is to understand about the construct what concern procedure technology is, and how it benefited the companies in decrease on procedure clip and costs. Another aim is to measure how concern procedure reengineering enhances the capablenesss and working capacities of companies. This survey will besides affect the survey of those factors that companies use to develop concern procedure reengineering a more profitable one.Meaning and definition of BPR:Business procedure reengineering i s the redesign of concern procedures and the associated systems and organisational constructions to accomplish a dramatic betterment in concern public presentation. The concern grounds for doing such alterations could include hapless fiscal public presentation, external competition, and eroding of market portion of emerging market chances. BPR is non downsizing, restructuring, reorganisation, mechanization, new engineering, etc. It is the scrutiny and alteration of five constituent of the concern: Scheme, processes, engineering, organisation, and civilization. Michael Hammer defines concern procedure reengineering in his book Reengineering the Corporation as:â€Å" Cardinal rethinking and extremist redesign of concern procedures to convey about dramatic betterments in public presentation. †Davenport defines BPR as: â€Å" The analysis and design of work flows and procedures within and between organisations ‘ ( Davenport & A ; Short 1990 ) Teng et Al. ( 1994 ) , define BPR as:â€Å" The critical analysis and extremist redesign of bing concern procedures to accomplish discovery betterments in public presentation steps. †Hammer focuses on one of the cardinal constructs of BPR, that it is cardinal and extremist. The alternate concern betterment methodological analysis is Continuous procedure Improvement ( CPI ) , which emphasizes little and mensurable polishs to an organisation ‘s current procedures and systems. CPI has its beginnings in entire quality direction ( TQM ) and Six Sigma, a plan that began at Motorola.BPR and some MythsThe popular direction literature has created more myth than practical methodological analysis reengineering. The construct of BPR has been with us since about 1990, nevertheless it is widely misunderstood and has been equated to downsizing, client/server computer science, quality, ABC, and several other direction panaceas of the past several old ages. Based on interviews and conver sations with more than 20 companies, and 35 reengineering enterprises, Davenport & A ; studded ( 1990 ) place seven reengineering myths: The myth of Reengineering freshness: reengineering, although about familiar constructs, is new in that these constructs are combined in a new synthesis. These cardinal constituents have ne'er been together earlier. The myth of the clean slate: regardless of cock ‘s ( 1990 ) exhortation â€Å" Do n't automatize, obliterate! † Clean slate alteration is seldom found in pattern. Or, as Davenport and Stoddard ( 1994 ) province: A â€Å" clean sheet of paper † used in design normally requires a â€Å" clean cheque † for execution is done over several phased undertakings. Besides supported by preliminary findings of Stoddard and Jarvenpaa 1995 their findings ran contrary to Hammer ( 1990 ) â€Å" although reengineering can present extremist Furthermore, a radical alteration procedure might non be executable given the hazard and cost of radical tactics, † The Myth of IS Leadership: In contrast to the much touted leading function, IS is by and large viewed as a spouse within a cross-functional squad that is by and large headed by a non-IS undertaking leader and a non-IS concern patron who have better control over the procedures that are being redesigned. The Myth of Top-Down Design: The execution and executing of the redesigned procedures depends upon those who do the work. Hence, the engagement, and more significantly, credence and ownership/at the grass roots degree is indispensable for successful BPR. The Myth of Reengineering VS transmutation: BPR is a procedure that contributes to organisational transmutation ( OT ) ; nevertheless it is non synonymous with transmutation. OT is defined as, â€Å" Profound, cardinal alterations in idea and action, which create an irreversible discontinuity in the experience of a system: ( Adams 1984 ) . OT is defined as, â€Å" Profound, cardinal alterations in idea and needfully involves reframing, which is a discontinuous alteration in the Organization ‘s or group ‘s shared significance or civilization. It besides involves wide alterations in other organisational dimensions besides the work processes such as organisational construction, scheme, and concern capablenesss. The Myth of Engineering ‘s Permanence: Davenport and Stoddard ( 1994 ) speculate that reengineering has peaked in the US in 1994 and would likely go incorporate with much broader organisational phenomena such as another synthesis of thoughts that includes the percepts of reengineering: its integrating into bing alteration methods: or its combination with quality and other process-oriented betterment attacks into an incorporate procedure direction Approach.BPR and TQMTeng et Al. ( 1994 ) note that in recent old ages, increased attending to concern procedures is mostly due to TQM ( entire Quality motion ) . They conclude that conclude that TQM and BPR portion a cross-functional orientation. Davenport observed that quality specializer tend to concentrate on incremental alteration and gradual betterment of procedures, while advocates of reengineering frequently seek extremist redesign and drastic betterment of procedures. Davenport ( 1993 ) notes that quality Management, frequently referred to as entire quality direction ( TQM ) or uninterrupted betterment, refers to plans and enterprises that emphasize design or procedure invention, refers to discrete enterprises that are intended to accomplish radically redesigned and improved work processes in a delimited clip frame.Relation between BPR and Information TechnologyHammer ( 1990 ) considers it as the cardinal enabler of BPR which he considers as â€Å" extremist alteration. † He prescribes the usage of IT to dispute the premise inherent in the work processes that have existed since long before the coming of modern computing machine and communications engineering. He argues that at the bosom of reengineering is the impression of â€Å" discontinuous thought or recognizing and interrupting off from the outdated regulations and cardinal premises underlying operationsaˆÂ ¦ these regulations of work design are based on premises about engineeri ng, people, and organisational ends that no longer keep, † He suggests the following â€Å" rules of reengineering ‘ : Form around results, non undertakings: Have those who use the end product of the procedure execute the procedure: Subsume information processing work into the existent work that produces the information ; Treat geographically dispersed resources as though they were centralized ; Link parallel activities alternatively of incorporating their consequences ; Put the determination point where the work is performed, and construct control into the procedure ; and Capture information one time and at the beginning. Davenport and Short ( 1990 ) argue that BPR requires taking a broader position of both IT and concern activity, and of the relationships between them. IT should be viewed as more than an mechanization or mechanising force to basically reshape the manner concern is done. Business activities should be viewed as more than a aggregation of single or even functional undertakings in a procedure position for maximising effectivity. IT and BPR have recursive relationship. IT capabilities should back up concern procedures, and concern procedures should be in footings of the capablenesss IT can supply. Davenport and Short ( 1990 ) refer to this broadened, recursive position of IT and BPR as the â€Å" new industrial technology † . Business processes represent a new attack to coordination across the house ; IT ‘s promise and its ultimate impact is to be the most powerful tool for cut downing the costs of coordination ( Davenport and Short 1990 ) . Davenport and Short ( 1990 ) outline the undermentioned capablenesss that reflect the functions that IT can play in BPR Transactional, Geographical, Automatical, Informational, Sequential, cognition Management, Tracking, and Disintermediation. Teng et Al. ( 1994 ) argue that the manner related maps participate in a procedure the functional yoke of a procedure can be differentiated along two dimensions degree of mediation and grade of coaction. They define the: Degree of Mediation † of the procedure as the extent of consecutive flow of input and end product among take parting maps. They define the Degree of Collaboration of the procedure to the extent of information exchange and common accommodation among maps when take parting in the same procedure. In their model, information engineering is instrumental in cut downing the Degree of Mediation and heightening the Degree of Collaboration Besides, advanced utilizations of IT would inevitable take many houses to develop new, coordination-intensive constructions, enabling them to organize their activities in ways that were non possible earlier. Such coordination-intensive constructions may raise the organisation ‘s capablenesss and reactivity, taking to possible str ategic advantages. Participants represented a wide sampling of industry groups. Product development and fabrication, finance and banking and consulting were the three largest sectors, accounting for over one-third ( 37 % ) of participants. Over a one-fourth of the participants were team leaders. Approximately 56 % of participants were either a squad leader, or a team member or a adviser.What processes are marks for Reengineering?Customer service was once more the most often reengineered procedure, as it had been in 1997 and 1999, but by less of a border. Information ( computing machine ) services about doubled in frequence, traveling it from the fifth to the 2nd most targeted concern for reengineering.Why are they being targeted?In each study ( 1997, 1999, 2002 ) , the demand to cut down cost/expense was the most often cited concern driver for reengineering undertakings. In 2002, 65 % of participants stated that disbursal decrease was the primary driver. The other three concern drivers are: competitory force per unit area ; hapless client satisfaction ; and hapless quality of merchandises and services.Are BPR undertakings successful?Survey participants showed much higher overall expected betterments from their BPR undertakings in 2002 than in 1999 or 1997. Over half ( 54 % ) of participants expected betterments of over 30 % . In add-on to anticipating higher betterments, survey participants were more successful in their undertakings. About 113 survey participants were able to mensurate their undertaking against the initial aims that were set. Over 73 % met or exceeded their aims, with about half ( 47 % ) of survey participants run intoing their undertaking within 10 % .What are the most critical undertaking activities?Participants overpoweringly indicated that the planning phase where range and functions were set was the most of import stage in the undertaking. The most of import measure was the planning and design stage, which formed the basis and set mileposts for the undertaking. † Other stairss participants cited as critical to project success included a high degree reappraisal of the concern as usual or ‘as is ‘ province of the organisation ( although squads cautioned against passing excessively much clip with this activity ) and deriving support and ‘buy-in ‘ from top direction ( including edifice executive sponsorship ) . Over 75 % of participants were required to subject a concern instance that included the projected ROI for the undertaking to see support. The undertaking had to bring forth a significantly positive ROI and show consequences within a specified clip frame.How did squads pass their clip?About two-thirds of a typical undertaking clip was spent planning, planing and deriving blessing with lone one-third spent on development and execution of the solution.Are undertakings acquiring longer or shorter?Continuing the tendency of shorter undertakings from 1997 and 1999, the norm undertaking lasted 13.8 months in the 2002 survey. In 1999 undertakings lasted 14.5 months and in 1997 they lasted 19.7 months.What would teams make otherwise?The top activity that undertaking squads would make otherwise on the following undertaking was more effectual alteration direction. Study participants cited increased preparation in the countries of BPR, alteration direction, engineering and direction rules as the figure one activity they would make otherwise with their following undertaking.Why are certain squads successful?Participants cited a figure of factors that contributed to their squad ‘s success. The top three factors were: Team members demonstrated a dedication to the undertaking The squad had strong committedness and support from the top direction The squad shared a clear vision of the aims and ends and had a common focal point and apprehension of the undertaking ‘s success. The sum of clip that squad members are able to perpetrate to the undertaking ( full-time vs part-time ) is steadily diminishing from the degrees in 1997 and 1999. At the same clip, stud participants felt that a deficiency of focal point on the undertaking, caused by preoccupation with regular responsibilities, inhibited the squad ‘s success.Did utilizing advisers pay off?Teams used advisers for the undermentioned three grounds: To move as the squad leader or cardinal facilitator within the reengineering squad To supply and/or organize the preparation of squad members. To supply specific and elaborate IT or proficient systems advice and expertness. More than three-fourthss of companies that used advisers rated the advisers ‘ effectivity excellent or really good, and more than three-fourthss of organisations cited the advisers ‘ influence as critical or really critical to the undertaking ‘s success.Did utilizing alteration direction truly do a difference?Excellent or really good alteration direction plans straight correlated with squads that met or exceeded their overall undertaking aims. The top-three alteration direction activities were: Changeless and diverse communicating. Training of employees on the new procedure and systems to be used. Planing the passage and invariably re-evaluating short-run ends and marks. Communication was once more the most of import alteration direction activity listed by participants. Participants cited the usage of multiple communicating methods as the key to guaranting successful communicating. Electronic mails and web sites were successful in making the broad audience, but as the subject was driven deeper in the organisation, there was no replacement for face-to-face treatments.What can Exceed direction make to promote undertaking success?Reflecting the consequences from the 1999 study, squads whose undertakings were driven or to a great extent supported by top direction were more likely to finish their undertaking at or above outlooks. The biggest error made by senior directors or executive patrons was a failure to demo sufficient seeable engagement in the undertaking.â€Å" aˆÂ ¦ non remaining involved plenty after the initial stage, presuming that everyone in the organisation understood their vision and scheme. †An overpowering bulk of squads had senior directors or executive-level directors as their undertaking patrons, and most squads rated their patron effectivity as really good or first-class.What were the biggest obstructions?Participants cited a figure of obstructions during execution. Resistance to alter within the organisation was cited six times more frequently than any other obstruction. Resistance came in many signifiers, including organisational inactiveness, corporate civilization, front-line opposition and direction opposition. The most normally cited subscribers to implementation success were: Buy-in from upper direction, including an executive patron ; A clear apprehension of the concern issues and the BPR solution ; and Employee support and buy-in for the proposed solution.How long earlier undertakings show consequences?Survey participants reported a short sum of clip before they realized betterments. A sum of 70 % of participants realized betterments within six months of undertaking execution and merely 12 % of undertakings required over a twelvemonth before betterments were realized.What else does the 2002 study screen?A list of the most critical â€Å" must make † and â€Å" must non make † recommendations from undertaking reams and squad leaders The complete set of direction errors most normally made during major alteration undertakings A comprehensive usher to BPR methodological analysiss and activities used by squads An analysis of which concern procedures are the future marks for alteration by companies The functions of executive patrons ( what they can lend most ) Key success factors for undertaking execution Guidelines for choosing the most effectual undertaking squad Most of import start-up activities for new undertakings What squad would make otherwise on their following undertaking Charts and graphs demoing what benefits squads are accomplishingFuture way of BPROver the last few old ages, the reengineering construct has evolved from a â€Å" extremist alteration † to account for the contextual pragmatism ( Caron et. Al. , 1994, Earl 1994 ) , and to accommodate with more incremental procedure alteration methods such as TQM, towards a broader, yet more comprehensive procedure direction construct ( Davenport 1995 ) . Based upon a theoretical analysis and study of literature relevant to reengineering, Kettinger and Grover ( 1995 ) sketch some propositions to steer future enquiry into the phenomenon of BPR. Their propositions centre around the constructs of cognition direction, employee authorization, acceptance of new ITs, and a shared vision. Earl et al. , ( 1995 ) have proposed a â€Å" procedure alignment theoretical account † that comprises four lenses of enquiry – procedure, scheme, MIS, and alteration direction and control, and used it for developing an inductive taxonomy of BPR schemes. Malhotra ( 1996 ) has developed the cardinal accent on these issues based chiefly on an integrative synthesis of the recent literature from organisation theory, organisation control, scheme, and MIS. King ( 1994 ) believes that although the current faddism of BPR may stop, nevertheless, procedure reengineering, in some signifier or known by some other name ( californium: Davenport & A ; Stoddard 1994 ) would be of digesting importance.Decisions on Business procedure reengineering:Companies sought out methods for faster concern procedure betterments. Furthermore, companies want breakthrough public presentation alterations, non merely incremental alterations, and they want it now. Because the rate of alteration has increased for everyone, few concerns can afford a slow alteration procedure. One attack for rapid alteration and dramatic betterment that has emerged is concern procedure reengineering ( BPR ) . BPR relies on a different school of idea than uninterrupted procedure betterment. In the extreme, reengineering assumes the current procedure as irrelevant – it does n't work, it ‘s broken, bury it. Start over. Such a clean slate position enables the interior decorators of concern procedures to dissociate themselves from today ‘s procedure, and concentrate on a new procedure. In a mode of speech production, it is like projecting yourself into the hereafter and inquiring yourself – what should the procedure expression like? What do my clients want it to look like? What make other employees want it to look like? How make best-in-class companies do it? What might we be able to make with new engineering? In drumhead, the utmost contrast between uninterrupted procedure betterment and concern procedure reengineering prevarications in where you start, and with the magnitude and rate of ensuing alterations. Therefore it is hard to happen an exact matched BPR to a peculiar company ‘s demands, and the challenge is to cognize what method to utilize when and how to draw it off successful such that bottom-line concern consequences are achieved. Such are the subjects which have to be studied farther.

Hnc Social Care Graded Unit †Implementation Stage Essay

Ralph has chosen this song as he loves it. It’s a song he’d love to be able to play on guitar. Ralph has stated he loves to play his guitar. However he gets frustrated when he try’s to play it on his own. He often has his guitar out when he is relaxing in the unit and has stated he wants to write a song about his mum. Ralph actually sung part of a song he had thought up. The lyrics were very warm towards his mum. However this song was very short and maybe if Ralph gets better at the guitar with these lessons he will be able to put a whole song together about his mum. This would be a very positive event as Ralph finds it very difficult to talk about his family at all. I spoke with Ralph and asked him what music he liked so that I could tailor his lessons around his likes instead of boring things he doesn’t know about. We looked out music in the school library but eventually settled on Ralph’s idea of looking up the music on Google. To ensure Ralph le arns the quickest and easiest way possible I found a guitar chords sheet and a Guitar Chord document (below) to help him understand the music better. Arrangements I spoke with my team leader and asked if this would be a good thing to take forward as Ralph has requested it. This was confirmed and she stated that not only would Ralph be learning and achieving but maybe as things develop staff will learn off of Ralph with regards to his opinions on family. My team leader also stated this would be an excellent morale boosting experience as staff will be sitting down with him for long periods, investing their energies and sourcing positive and constructive resources to help support and inspire him. When and Where? I arranged the key time lesson to take place at 6pm. This gives plenty of time for Ralph to complete school, routines, have dinner then attend his lesson. It was agreed the School block music room would be used as the lesson area. This is well lit and ventilated and most importantly private and quiet on the eveningsMaterials and Resources The music below was taken from: http://tabs.ultimate-guitar.com/e/ed_sheeran/the_a_team_ver10_crd.htm A Team Chords Standard tuning G White lips, pale face, F#* Em Breathing in snowflakes, C G Burnt lungs, sour taste. G Light’s gone, day’s end F#* Em Struggling to pay rent, C G Long nights, strange men. Am Cadd9 And they say she’s in the Class A Team, G Stuck in her daydream, D Am Been this way since 18, but lately her face seems Cadd9 Slowly sinking, wasting G Crumbling like pastries And they scream D The worst things in life come free to us, Em Cadd9 Cuz we’re just under the upper hand G And go mad for a couple of grams Em Cadd9 G And she don’t want to go outside tonight Em Cadd9 And in a pipe she flies to the Motherland G (D) optional Or sells love to another man, Em Cadd9 G It’s too cold outside G Em C G For angels to fly G Em C G Angels to fly G Ripped gloves, and raincoat, F#* Em Tried to swim and stay afloat, C G Dry house, wet clothes. G Loose change, bank notes, F#* Em Weary-eyed, dry throat, C G Call girl, no phone. Am Cadd9 And they say she’s in the Class A Team, G Stuck in her daydream, D Am Been this way since 18, but lately her face seems Cadd9 Slowly sinking, wasting, G Crumbling like pastries, And they scream, D The worst things in life come free to us, Em Cadd9 Cuz we’re just under the upper hand, G And go mad for a couple of grams, Em Cadd9 G And she don’t want to go outside tonight, Em Cadd9 And in a pipe she flies to the Motherland, G (D) optional Or sells love to another man, Em Cadd9 G It’s too cold outside, G Em C G For angels to fly, G Em Angels to fly Am C An angel will die. G Covered in white, Em Closed eye, C G And hoping for a better life, Am C This time, we’ll fade out tonight G Straight down the line Am Cadd9 And they say she’s in the Class A Team, G Stuck in her daydream, D Am Been this way since 18, but lately her face seems Cadd9 Slowly sinking, wasting, G Crumbling like pastries And they scream, D The worst things in life come free to us, Em Cadd9 Cuz we’re just under the upper hand, G And go mad for a couple of grams, Em Cadd9 G And she don’t want to go outside tonight, Em Cadd9 And in a pipe she flies to the Motherland, G (D) optional Or sells love to another man Em Cadd9 G It’s too cold outside, G Em C G For angels to fly G Em Angels to fly C Em To fly, fly G Em D Em Angels to fly, to fly, to fly G Em7 Angels to die. I then went on to google and printed out a guitar chord guide (below) and placed one on Ralph’s bedroom wall at his request. I also used one for our lesson. Guitar Chord fingering patterns Poster in Ralph’s room: iPad I also used my an iPad the school block to help Ralph with playing the chords. The application I used has an amazing interface and shows videos of how to play chords. This was just another innovative way of helping Ralph learn instead of always using boring old methods like paper and books. Lesson Plan The lesson plan is to: 1. Introduce the Guitar 2. Talk about chords and music 3. Teach Ralph chords from â€Å"A Team†. 4. Get Ralph to play the chords. 5. Work on his weaknesses, develop his strengths. 6. Decide together on the next piece to learn. LESSON 1 RALPH’S FIRST GUITAR LESSON Goal Learn the A-Team by that man up there. How? Learn the chords with the iPad and Chord sheet. Copy Andrew your teacher. Watch interactive videos to understand how to play chords better on your guitar. Most importantly†¦ Enjoy yourself. Learn. Ask questions. Try your hardest. Practice on your own. Cost  £6.99 for guitar strings. This is a long term investment however. No additional cost at present for in house lessons. Staffing The lessons have been arranged for when Andrew Shuttleton is on shift. If any issues arise regarding staffing the lesson may be arranged for another date. Music Therapy Lots of people say that music makes us feel better about ourselves and can help us work harder and become smarter. Cool eh? The future I hope you enjoy these lessons but I know that you would benefit from lessons with a professional. A guy that knows way more than me, and can help you to get much better a lot faster! Below are the two guitar teachers you agreed were the best to contact if you decide you would like to. Risk Assessment I’m required to ensure you are safe at all times. This is the reason I sat down with you and talked through your risk assessment and the guitar lesson risk assessment I made. Its important you listen carefully to me and follow my instructions to keep yourself and others safe. Then it will be a brilliant lesson! Sign it to say you’re now a guitarist! Completed by: . Authorised by: . Summary Fjejnrnfjrrjriririrrnttj Findings and outcomes Conclusions and recommendations. Task Centred Practice Application Problem exploration I identified Ralph’s needs and responded to requests to develop his guitar playing. I contacted seniors and asked for advice and worked on completed the plan above. Agreement Ralph and I spoke about having lessons. We agreed I would complete a lesson and work with Ralph to pick a song. I agreed to pick up the resources. Formulation of objective I put together the lesson plan (above) and both Ralph and myself gathered the resources. The plan was intricately detailed. Achieving task I went to work on the 15th August. I received a changeover from staff on all of the service users. We then discussed and confirmed our plans for the evening. I ensured all staff were aware of my plan and had a print out of the details. They supported and congratulated me on this. The lesson went ahead and Ralph struggled to follow my instructions at first. However, he went on to really impress and progress throughout the lesson. Termination The activity finished at 725pm. This was over the planned time of one hour due to Ralph’s desire to continue. It was stopped at this time to allow Ralph to complete his night time routines as his Pen Picture states, at 7.30pm. I praised Ralph throughout for his concentration and enthusiasm after a long school day. Verification See below letter from my manager stating the activity was planned as above, carried out professionally and completed.

International Success and Failures of Canada Goose Inc

International Success and Failures of Canada Goose Inc International success Global demand for the company’s products is increasing every day. Product research on Canada Goose Inc has proven that market awareness in countries with similar weather conditions is increasing in due time. Most of the countries in Europe and especially in Eastern Europe have similar weather conditions like Canada.Advertising We will write a custom research paper sample on International Success and Failures of Canada Goose Inc specifically for you for only $16.05 $11/page Learn More In this regard, customers in countries like Russia and the Scandinavian are now conversant with Canada Goose Inc products. Canada Goose Inc products popularity is now felt in the film industries, where the company’s cold costumes are preferred during filming in cold areas. The fact that the company’s retail business has expanded in more than 40 countries across Europe with headquarters in Sweden is encouraging (Lorinc, 2012). The recent trade engagement between Canada and international trading associations has been critical for the Canada Goose Inc international success. The recent agreement between Canada and the European Free Trade association (EFTA) is an example of how the company is succeeding in international markets. The trade agreement between Canada and the trading association has seen the company perform incredibly well in Iceland, Norway and Switzerland. Low-cost products from the company are now distributed and sold in Asia and the United States. International failures Cultural differences across potential market regions have resulted to the failure of Canada Goose Inc in foreign markets. From this perspective, the company has been unable to establish a universal brand image that reflects a common organization values. Canada Goose Inc has totally failed in enacting copyright laws that prevent piracy and counterfeiting of products (Bitti, 2011). Canada Goose Inc has suffered immensely from this internat ional problem especially in Asia and in the United States. Moreover, the company continues to suffer from lost sales derived from fake products made by foreign Asian companies. There are concerns that the company has failed in its international mandate of observing animal rights as mandated by People for the Ethical Treatment of Animals (PETA). For example, the company has resolved to use coyote fur in manufacturing expensive products.Advertising Looking for research paper on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More The failure of Japanese parkas products is associated with infringement of counterfeit products in the market. Consequently, the distribution network in Japan underperformed in a volatile and competitive market. In recent years, the Japanese market has been flooded by products of similar design with original Canada Goose Inc products (Kopun, 2013). Trademark infringement is not only common in Japan, but also in other European markets. The failure to maintain rising demand for Canada Goose Inc products has resulted to compromising of the products quality. This can be evidenced by the increasing cases of counterfeit products in the market. The company has also failed to maintain its market as evidenced by frequent out-of stock products. Canada Goose Inc is losing its market for lack of strategic internet usage. By not utilizing technology in an era that heavily depends on internet for information, the company continues to use conventional methods in battling counterfeits (Wells, 2011). Moreover, copyright laws differ between countries making it difficult for the company to prevent product faking. Another international failure for Canada Goose Inc is its expanded product line for other seasons. This means that the company is now risking venturing in foreign markets in America, Asia and Europe. This attracts stiff competition from other renowned brands and may risk the compa ny into financial debts. Canada Goose Inc has failed by under-investing, in business communication, in markets with stiff competition. References Bitti, M., T. (2011, July 19). Canada goose takes on counterfeiters. Financial Post, 1A. Kopun, F. (2013). Canada goose sues Sears over parka design. Web.Advertising We will write a custom research paper sample on International Success and Failures of Canada Goose Inc specifically for you for only $16.05 $11/page Learn More Lorinc, J. (2012). The golden goose. Web. Wells, W. (2011, November 7). Canada goose anti-counterfeiting strategy key to protecting brand. Financial Post, 1A.

Friendship Sites Enable Women to Make New Friends

Friendship Sites Enable Women to Make New Friends Since online dating services are a proven way for women (and men) to find romance, why not apply the same matchmaking principles to friendship? Opportunities for women to make new friends are now just a mouse click away. Following in the footsteps of internet dating, websites designed to foster real-world female friendships are on the rise. Mommy Sites and Friendship Millions of women already flock to mommy sites that create community between expectant and new mothers, and the many niche motherhood sites for working moms, stay-at-home moms, even entrepreneurial moms attest to their success at establishing meaningful online relationships. But what if you want to meet other women face-to-face and form friendships in your own community? What if moving or marriage has changed your circumstances, and youre looking for new connections and new girlfriends? Wouldnt it be nice if a website facilitated those meetings the same way dating sites do? More Meet Online If youre skeptical of the idea of internet friendship sites, consider this. A 2015 Pew Research Center poll online survey found that 15 percent of American adults have used an online dating site. Twenty-seven percent of young adults (18-24 years old) and 12% of adults aged 55–64 years old report that they have used online dating. Nearly 60% of college students say they know someone who uses online dating, and 46 percent say they know someone who has entered into a long-time relationship. If the internet has become a valuable tool in forming a sexual connection, couldnt it establish a social connection as well? Matchmaking Girlfriends Thats the concept Canadian entrepreneur Amanda Blain banked on when she launched the website Girlfriend Social, a place where women of all ages and backgrounds can go to talk, share and find new female friends. One of the largest social networking sites exclusively for females 18 and older, Girlfriend Social (GFS) enables users to seek out and connect with like-minded women in hundreds of cities and communities across the US, Canada, the UK and Australia. Although existing sites such as Girlfriendology and Meetup also offer opportunities for women to get together based on geographic location, Blain explained in an interview what makes GFS distinctly different: Other social networks are designed to deal with business, dating, or connecting with people you already know. Very few specialize in connecting new friends or helping you locate other people with similar hobbies. Girlfriend Social is designed purely for women to socially meet new friends and is the only free social network that allows women to create complete profiles, match with friends, chat with others, discuss hot topics, and to meet other women at live events, face-to-face. The M Stage Blain came up with the idea following a move to a new city; at her new job, her co-workers were mostly male. She soon realized the obstacles to a friendship that women face today are vastly different from those our mothers encountered. Many things have changed including the expectations women put on themselves. Many are working, have children, and find themselves trying to juggle work and family life. This isn’t as easy as it was a generation ago. Shes noticed that many women seek out new friends once they enter the M stage- moving, marriage, or motherhood- because those life transitions can alter, strain and even sever existing friendships. Many women who go through these experiences find that their circle of friends change. Sometimes the friends you have aren’t calling you anymore, you’re not calling them, or you find your priorities have changed. Adding some new people to your life can help you through these transitions. Making the Jump Older women, in particular, find it hard to meet new people after spending years in the same social circle. The demands of family life and career leave little time to step outside the ordinary routine, meet new people, and then go from there. As Blaine notes, Even if you take new classes, go for gym workouts, or start new hobbies, it’s still difficult to make that jump from acquaintance to friendship with the people you meet. Women who do not have a significant other in their lives encounter additional friendship challenges. Whether they are alone by choice, divorce, or death of a spouse, single women often find themselves out of sync with married friends who socialize as couples. Like re-entering the dating scene, trying to establish new friendships at this stage can be intimidating. All these women would just like to connect with new women, Girlfriend Socials founder Amanda Blain says, but they aren’t sure how to go about it. Meeting the Old Fashioned Way Some have gone the Craigslist route, using the popular non-commercial community bulletin board as a way to find new friends. They post in the Personals section under the heading Strictly Platonic; the w4w (women for women) listings include requests for workout/running buddies, movie buddies, travel companions and females to go clubbing with. Judging from the number of entries posted in one week in Chicago (33), Seattle (27), Boston (3) and New York City (105), women all over the U.S. are finding it difficult to make the kind of steady, reliable friendships theyve enjoyed in the past. As one woman wrote, Posting on Craigs List is not something Id normally do, but it can be difficult meeting people the old-fashioned way. But Craiglist is not foolproof. Some who have used it to seek out goods or services have been scammed or even robbed; many of the listings despite being in the strictly platonic section are not. Without any controls or means of regulating its users, Craigslist and other online community-based bulletin boards are a hit-or-miss option. Easy and Safe In comparison, a membership-based internet friendship site makes it easy and safe for women to reach out to each other and search for friends who would be most compatible. Safety is a major concern for Blain and Girlfriend Social. Although her site gives women opportunities to share personal details (helpful in matching new friends), she leaves it up to each participant to decide how much to reveal about herself. Members fill out a profile where they provide as much information about themselves as they are comfortable with. Its detailed application that matches women based on everything from sports to hobbies to movies, music, and books.  With a few simple clicks, you can match with other women in your local area who have kids the same age as yours or read the same authors as you do.   The match feature is a quick way to find women who have similar interests. A Friend Who Gets Her Whereas mommy sites cater to women with young children, GFS includes women of all ages and stages of life. Blain counts among GFS members 75-year-old grandmothers looking to play cards with others and 22-year-old students looking to get out for a night of dancing, along with new moms. Some women are looking for specific friendships based on mutual interests. Blain tells the story of a woman who loved Broadway shows, an interest her husband didnt share. Through GFS she found another woman to attend Broadway shows with. Her husband is delighted and she’s happy because now she has a friend who ‘gets’ her hobby. Blain feels that GFS and other girlfriend sites are not only long overdue but necessary because of the way women bond- a process thats a bit more complex in females than in males. The friendship instinct can be found in both genders, Blain says, but to a certain extent, I think men find themselves in situations where it’s easier to make new friends. A man can go to a local sports bar, find another guy cheering for the same team, and the next thing you know hes sitting next to the other guy, having a drink and getting invited to a barbecue. Sometimes a man is invited to go golfing with a new group and by the time he’s done playing he’s friends with every guy in the group. With women, I find getting into similar situations, or into other women’s social circles isn’t quite as easy.    Where Women are Nurtured In the end, its not rocket science- its about making new friends. Blain explains, My goal was simple: build a safe, fun and drama-free network where women of all ages and backgrounds are able to connect, participate in some new events, and come together to learn and share their unique life experiences. I built a community where the true nature of what it means to be a woman is nurtured.

Structured English Immersion in ArizonaSschools Research Paper

Structured English Immersion in ArizonaSschools - Research Paper Example Then SEI has achieved a new status in 1991as a result of advanced studies conducted by David Ramirez and he coined two basic components like teachers maximize instruction in English and teachers use and teach English at a level appropriate to the abilities of the ELL in the class (Clark 2009). As a result of adopting Proposition203 (English Language For Children in Public Schools) in November 2000 Arizona State established English as the official language of Arizona and demanded all public school education in the state be practiced in English. Charlene Rivera, Eric Collum states that; â€Å"ELL students are to be placed in a structured English immersion program for not more than 1 year, at which point they are mainstreamed in to English classrooms† (Rivera & Collum 2006, p.212). The web article The Case for Structured English Immersion gives valuable information about the implementation of SEI Programs in Arizona State. Kevin Clark said that Arizona’s English Language L earner Task Force launched in late 2006. In its initial stage many teachers and academics have confused with ESI programs with submersion. Some of them believed that the implementation of ESI task force in regular classrooms have little or no instructional modification. In spite of the jumble definitions, messages and grass root level emotions, educators and academics in Arizona district have implemented SEI programs in both elementary and secondary level. It is significant for a reader to understand that all materials and instructions in SEI programs are practiced in English since the beginning. Other important characteristics of SEI program is that it calls for direct, active and explicit instructional methods and strategies for SEI... This essay approves that Arizona district have implemented SEI programs in both elementary and secondary level which, the government is planning to propose in other levels. The SEI programs have basically divided the strategies into three components: policy, structure, and classroom practices. These strategies also take into account certain other factors like the size of the school, the location of the school, the grade levels at the school, the number of English language learners and the percentage of English language learners, and so on. This report makes a conclusion that the proposed study leads one to the inference that the implementation of SEI in Arizona schools had a greater impact among the students and the teachers and as such, it exerted a decisive role in uplifting the educational standards of that country. The critical analysis of the research topic unveils the fact that the Structured English Immersion in Arizona schools could influence and attract many students to English language learning. The SEI programs are well structured and it can certainly make the students aware of the systematic study of English language. The program has been designed for the students of the school and secondary levels to help them improving their language skills; specifically focusing on reading, writing, speaking and listening. The classes are scheduled for one year, four hours per day with the support of a well structured lesson plan and materials. The students are grouped by considering their ability in language use.

Annotated Bibliography for Structure and Strategy Essay

Annotated Bibliography for Structure and Strategy - Essay Example It also provides useful tips that could be put into practice by leaders and managers regarding designing organizations that allow for creativity as well as flexibility. According to the article, leaders are able to realize that the ability of organizations to succeed in the current environment is dependent on the ability of the business to adapt its systems, structures as well as processes. This will enable the organization to venture into new markets and it will still be able to expand the existing ones. Organizational design therefore is a critical determinant of an organization’s strategic competitive advantage. Information provided in the article will enable a business leader to identify situations where an organization design is required and also provides some guidelines that may assist in redesign. Authors of the article have provided guidance on how to develop the appropriate design for an organization as well as the steps that can be followed in order to avoid the comm on issue of outmoded organizational designs. Case examples from different organizations have been outlined and this further impacts business leaders with skills. ... The article also suggests that leaders will have to play huge roles in organization designing efforts. Innovation-point.com. (2010). Strategy-Structure Alignment. Retrieved from http://www.innovation-point.com/Strategy-Structure%20Alignment.pdf This article aims at increasing strategic thinking abilities of the readers as it exposes them to a wide range of perspectives and theories. The article contains theories, frameworks, models and perspectives that have been clustered around strategy- structure issue in management. It also provides key aspects with which managers must deal with in their practice of management. This article is decision- oriented as it provides managers with key decisions that they have to implement in their practice for them to be effective managers as well as decision makers. Readers are provided with a challenge of looking at the strategic- structure issue from different aspects and perspectives. This article encourages a reader to engage and it also provokes c ritical thinking. Managers are required to identify the strengths and weakness of the strategy- structure issue and this will enable them to develop a better understanding of the problems experienced. The article therefore will provide managers with more skills and they will be able to develop innovative methods of solving the problems. The article also outlines the four phases that the strategy- structure follows and provides a clear explanation of what each phase entails. It therefore focuses on giving the reader a clear overview of the structure-structural alignment. The article can therefore be said to be based on an assumption that the reader has a need of developing skills that will enable him/her