Whar Do You Know About Linda Wishkob free essay sample

The Wishkobs took Linda in, gave her their name and raised her as their own on the Indian booking for a superior life. â€Å"Every morning until I was eleven, they woke me up before everyone, Albert said put your feet out Tuffy† which was a moniker given to her by one of her kin. â€Å"He pulled me one way while Betty pulled the other way’’ (p65) The Wishkob utilized this technique to untwist Linda legs with the goal for them to develop such that will make her look ordinary. This left Linda irregularity free. Betty and Albert gave a valiant effort to give Linda the most ideal life. In this received family Linda grew up with affection and tolerance. Tuffy grew up and transformed into an awesome, solid, cherishing lady. She was not, at this point multi year old young lady who might not quit crying until she was in her mommy’s arm. We will compose a custom exposition test on Whar Do You Know About Linda Wishkob or then again any comparative subject explicitly for you Don't WasteYour Time Recruit WRITER Just 13.90/page A long time had passed, she had work in the neighborhood post office, when her new parents left she ventured behind to deal with the family home and the pooches and was living autonomously. She was solid and could remain on her on. One day her organic mother gets in touch with her. â€Å"I took a full breath said nothing and set the telephone back in the support. (pg 66) at that point, Tuffy had taken the force, and dismissed the ladies who surrendered her. Linda in the end consents to meet her organic mother for supper. During the dinner her mom offers to pay for feast , Linda said â€Å"no thank you, we will part the check† (p67). At this time, Lindas activities shows her solid demeanor, that she is presently her own individual and that it is past the point of no return for her mom to act like she thinks about her. At the eatery Nancy took one gander at Linda and she said â€Å"you aren’t† (p67) and Linda completed the sentence by saying â€Å"Retarded? Weak? † (pg67). Nancy Lasher understands that the powerless, distorted, undesirable young lady she surrendered in the clinic was no more. Regardless of her pass asâ real mother Linda endure. Linda hadâ lead a more ordinary life than everybody had expected including the individuals who brought her unto this world. Truly, Linda was currently solid, autonomous and had changed generally advantageous. Later during the supper her mom uncovers her actual aim for searching her out. Mrs. Lasher was looking to spare the life of Linden, Lindas twin. Regardless of this unfeeling solicitation for her kidney to spare her brother’s life, Linda exhibit her quality of character and empathy when she consents to give her twin the kidney he needs to spare his life. Linda was a long way from great. Anyway her life venture had taken her from a relinquished, left for dead, frail, and undesirable, into a solid, adored, free, humane, and required young ladies.

Pricing Essay Example

Valuing Essay Organization is a business division of a fair sized organization concentrated on assembling and selling a top notch purchaser electronic gadget through top of the line advertising channels, for example, claim to fame shops and restrictive retail chains. These strength outlets exhort and instruct clients about the alluring highlights of various electronic gadgets. Elektra charges on normal 500 for every unit to its merchants, who mark it up to 899 when offering to retail clients. After numerous long periods of high deals, Elektra deals in the most recent year had drooped to 150,000 units for each year utilizing just 75 of its assembling limit. The decrease sought after was a direct result of quick changing advances and shopper propensities, and the ongoing presentation of another age of the electronic gadget had not expanded deals considerably. Thus, Elektra senior administration trusts it is improbable that the interest for its items will increment fundamentally in the following three years until conditions improve considerably and Elektra and its top of the line contenders present the cutting edge innovation. Regardless, they stayed certain about the drawn out possibilities of their item. Elektra has as of late got a proposition from Megawatt Stores, Inc. A main popular store of rebate retail locations. Megawatt needs to purchase Elektra result of a similar quality as that sold at present through forte retailers. Megawatt has offered to buy 50,000 units every year for a three-year time span at 374 for every unit. It can't address a greater expense since it intends to retail the item at just 549. While costs are not expected to expand, a swelling provision will permit Elektra to pass on exogenous cost increments. We will compose a custom paper test on Pricing explicitly for you for just $16.38 $13.9/page Request now We will compose a custom article test on Pricing explicitly for you FOR ONLY $16.38 $13.9/page Recruit Writer We will compose a custom article test on Pricing explicitly for you FOR ONLY $16.38 $13.9/page Recruit Writer After broad dealings, Megawatt has made an accept the only choice available offer and took steps to investigate other key accomplices n case Elektra doesn't acknowledge its offer. In spite of the fact that Megastars offer is 25 beneath Elektra ordinary value, it might be alluring for Elektra to be an early mover in the low-end advertise on the grounds that Elektra has impressive overflow limit, and the Megawatt agreement may permit it to collect involvement with what may develop as the predominant portion of the market. Elektra variable item costs for deals through its current very good quality circulation channel are assessed to be 300, including direct materials 150, direct work 60, variable assembling overhead 70, and deals commission 20 at 4 of deals cost. Yearly fixed overhead expenses are 17,000,000, and are not expected to increment with the expanded creation required if the Megawatt offer is acknowledged. By downsizing to a limit of 150,000 units from the present 200,000, in any case, Elektra would have the option to spare about of the yearly fixed expenses. Variable expenses for the Megawatt request are relied upon to be comparative. Direct material expenses, notwithstanding, will increment by 10 in light of extraordinary packaging and bundling with emblazoning of Megastars private mark logo rather than the Elektra brand name. Additionally, factor costs for the Megawatt request will bar the 4 commission regularly paid to the beers staff in light of the fact that no salesman is associated with deals to Megawatt. Some Elektra administrators are worried that when clients examination shop they will locate a similar quality gadget as Elektra own image name item sold through strength retailers. In the event that the gadgets are accessible at a much lower cost at Megawatt Stores, many cost cognizant clients may purchase the gadgets at Megawatt rather than the claim to fame retailers. Elektra ranking directors are exceptionally certain that close to 6 of Elektra present deals will be lost in light of the correlation shopping if Megastars proposition is acknowledged. Examination customers are cost cognizant clients who look around to locate the least expensive item with the essential degree of value. The vast majority of Elektra clients are quality lovers who visit just the claim to fame shops to assess the highlights of various items, as opposed to the cost, before settling on their buy choice. Elektra top administration is progressively worried about these quality fans however doesn't accept any of them would shop at Megawatt. On the off chance that 6 of Elektra top of the line channel deals are torn apart, complete deals will be 191,000 units including 50,000 units sold through Megawatt, yet no decrease will be conceivable in hacked out expenses. Another gathering of Elektra officials is worried about selling at a limited value indistinguishable quality items from the items sold at present through claim to fame retailers, and the effect that such a move will have on the uncommon relationship that has been developed with the top of the line retailers. These officials accept that deals may diminish if the forte retailers don't push the Elektra brand item as much as its rivals items. Megawatt has demanded only the best quality item that Elektra sells at present through the particularly retailers, and will pull back its offer in any case. New innovation is created by Elektra(and likewise its rivals) on a three-year cycle to build the estimation of the item to top of the line clients. An option considered by Elektra is to contribute more on RD promptly and carry the new innovation to the market inside a year. The fixed and variable cost structure isn't relied upon to change altogether for the new Reproduced with authorization from the personnel item that consolidates the new innovation. Some Elektra administrators are worried that quickening the RD may delight in more deformities sneaking in the item and some corresponding items gave by different providers not being prepared. This expanded the danger of clients being disappointed with the new age and damages Elektra notoriety. In any case, in light of the fact that the new item will probably be significantly increasingly valuable to the top of the line clients, Elektra could supplant the current item with the new item in the claim to fame retail channel. By quickening the new innovation, Elektra isn't probably going to increase huge piece of the pie in the strength channel as contenders will attempt to connect Elektra innovation at the earliest opportunity by presenting their new models with the new innovation early. Required What will be the yearly benefit if the Megawatt offer is dismissed What will be the expansion or reduction in its yearly benefit in the event that it acknowledges Megastars offer Should Elektra acknowledge Megastars proposition What vital elements ought to be considered in assessing the Megawatt offer Should Elektra consent to having its item marked as a Megawatt item and bring about the extra 10 increment in direct materials cost How alluring is the potential chance to collect involvement with the low-end advertise through the proposed key collusion with Megawatt Should Elektra quicken the improvement of the new innovation and put up it for sale to the public inside a year Is there a contrast between the business lost because of centralization of value delicate clients and the business lost in light of the fact that uncommonly retailers may no longer push Elektra items if Elektra acknowledges the Megawatt offer Reproduced with authorization from the workforce September 2012 . Educator Rajah D. Investor arranged this case to give a premise to class conversation.

Use SOAP to Edit Your Medical Residency Statement

Use SOAP to Edit Your Medical Residency Statement Getting into the medical residency program of choice is based upon a bit of luck, a match with the program, and your personal statement. Lets take a look at some mistakes and typical areas of weakness in the many personal statements Ive edited. While these examples and themes came from applicants to medical residency programs, the same challenges and advice apply to other graduate-level programs as well.Applicants at this level have already accomplished a great deal with their careers and in their lives. The challenge is usually not to find what to write about, but rather how to retain focus, organize and convey the personality of the applicant. Lets go thru some themes which highlight typical mistakes and patterns which need to be converted to expected forms of polite, academic and professional writing.Well do a little bit of wordplay on the SOAP note familiar to physicians.S: Simple detailsIve seen both extremes in the writing of my customers. On the one hand some applicants write with very colloquial and informal English which needs to be polished up. On the other hand, others write very extended and lengthy sentences which need simplification. Neither is particularly appropriate for these application statements. Reviewers are looking thru hundreds of statements and they like to read organized and clearly constructed sentences. Simple sentences are good, but they should also provide useful and compelling details.For example, one could write something like After completing my second-year residency at General One Hospital I did a fellowship in pediatrics where I realized I loved working with children. Split this sentence in two, and be more specific with the second half, for example, I completed my second year at General One Hospital. During my pediatric fellowship there my extensive exposure to terminally ill pediatric oncology patients heightened my awareness of treating both the patient and working with their extended families. This second sentence does thr ee things, it demonstrates your medical vocabulary, conveys your personality, and describes in detail your exposure to this specialty.O: OrganizeTheres a typical chronological theme in most statements. This may or may not be appropriate. Depending on your experiences, focus most of your text on describing recent and pertinent information related to the specialty that you are interested in. Ive seen statements that spend two or three paragraphs on describing pre-medical school awards and interest, family background, and specific details on the names of each fellowship or hospital one has worked in. Its not usually necessary to list each organization that youve studied or worked in, that information is provided elsewhere in your application packet. Its also not usually going to add much to provide early history information, youve already made it to medical school, and everyone assumes youre competent!Therefore, when you organize your personal statement, I recommend you write up an out line of supporting experiences which demonstrate your interest in a specialty. The best personal statements Ive read do this very well. For example, the applicant will use one paragraph to write about a medical encounter that was a salient moment in the target specialty. Theyll then spend another paragraph describing further research or observership experiences related to that field. Importantly they will also then write a few sentences on what the target program has to offer. For example, Im particularly interested in the strong research program in this residency. I plan to continue in academic research and further my research in renal disease.A: AddAlthough brevity is key to any good writing, I have found that most applicants write loose sentences. In some ways, this is just a transfer of conversational language down onto paper. This, however, lacks the hallmark of good writing. Schools are looking for applicants that can convey an idea clearly, with detail and brevity. Take for e xample the previous sentence I wrote, it has a very simple structure with three points separated by commas at the end. This structure helps the sentence to convey a great deal of information in an expected format that makes it easy to read. Use this format to add punch to your sentences. You dont want to do this in every sentence but use it at least once or twice in the statement. For example, I have a passion for emergency medicine, I have found it challenges my memory and knowledge, it is exhilarating, and the outcomes are immediate. Another example, I came to the U.S. expecting a great deal and I found my training here state-of-the-art, challenging, and satisfying. Simple, one-two-three.P: PersonalResidency programs are usually not extremely large groups, therefore programs are looking for diversity and personalities that will complement and work well with others in the program. Most applicants do not spend a lot of time describing themselves. This is okay, as its not a dating co ntest, but do take the time to describe your passions, motivations, and experiences in the target specialty as you describe your experiences. For example, Ive seen excellent sentences such as The approach to patient care was holistic and there was an emphasis on psychosocial history. I felt these factors made family practice exciting, versatile and challenging. Another example, I have been impressed by the vast array of clinical presentations and management options for cardiac diseases. I was fascinated by observing how a cardiologist can diagnose many valvular and other cardiac conditions using only a stethoscope.So there you have it, a quick personal statement SOAP note. Use the ideas presented here as your own checklist when reviewing your statement. Are my sentences simple and clear while also providing useful details about my experiences? Is my statement organized, does it lead the reader to conclude that I am an excellent candidate for this program based on my experiences and motivations? Did I add descriptive words, medical terminology, and experiences that demonstrate my mastery of the subject? And finally, is the statement personal? Does it show why I will invest so much time in this specialty?As I mentioned at the beginning of this article, most applicants at this level are already very accomplished in their professional and personal lives. Taking the time to edit, and finding a good editor to work together on this will provide you with the best possible opportunities and also let a little luck work her magic. Continued success to everyone!

Use SOAP to Edit Your Medical Residency Statement

Use SOAP to Edit Your Medical Residency Statement Getting into the medical residency program of choice is based upon a bit of luck, a match with the program, and your personal statement. Lets take a look at some mistakes and typical areas of weakness in the many personal statements Ive edited. While these examples and themes came from applicants to medical residency programs, the same challenges and advice apply to other graduate-level programs as well.Applicants at this level have already accomplished a great deal with their careers and in their lives. The challenge is usually not to find what to write about, but rather how to retain focus, organize and convey the personality of the applicant. Lets go thru some themes which highlight typical mistakes and patterns which need to be converted to expected forms of polite, academic and professional writing.Well do a little bit of wordplay on the SOAP note familiar to physicians.S: Simple detailsIve seen both extremes in the writing of my customers. On the one hand some applicants write with very colloquial and informal English which needs to be polished up. On the other hand, others write very extended and lengthy sentences which need simplification. Neither is particularly appropriate for these application statements. Reviewers are looking thru hundreds of statements and they like to read organized and clearly constructed sentences. Simple sentences are good, but they should also provide useful and compelling details.For example, one could write something like After completing my second-year residency at General One Hospital I did a fellowship in pediatrics where I realized I loved working with children. Split this sentence in two, and be more specific with the second half, for example, I completed my second year at General One Hospital. During my pediatric fellowship there my extensive exposure to terminally ill pediatric oncology patients heightened my awareness of treating both the patient and working with their extended families. This second sentence does thr ee things, it demonstrates your medical vocabulary, conveys your personality, and describes in detail your exposure to this specialty.O: OrganizeTheres a typical chronological theme in most statements. This may or may not be appropriate. Depending on your experiences, focus most of your text on describing recent and pertinent information related to the specialty that you are interested in. Ive seen statements that spend two or three paragraphs on describing pre-medical school awards and interest, family background, and specific details on the names of each fellowship or hospital one has worked in. Its not usually necessary to list each organization that youve studied or worked in, that information is provided elsewhere in your application packet. Its also not usually going to add much to provide early history information, youve already made it to medical school, and everyone assumes youre competent!Therefore, when you organize your personal statement, I recommend you write up an out line of supporting experiences which demonstrate your interest in a specialty. The best personal statements Ive read do this very well. For example, the applicant will use one paragraph to write about a medical encounter that was a salient moment in the target specialty. Theyll then spend another paragraph describing further research or observership experiences related to that field. Importantly they will also then write a few sentences on what the target program has to offer. For example, Im particularly interested in the strong research program in this residency. I plan to continue in academic research and further my research in renal disease.A: AddAlthough brevity is key to any good writing, I have found that most applicants write loose sentences. In some ways, this is just a transfer of conversational language down onto paper. This, however, lacks the hallmark of good writing. Schools are looking for applicants that can convey an idea clearly, with detail and brevity. Take for e xample the previous sentence I wrote, it has a very simple structure with three points separated by commas at the end. This structure helps the sentence to convey a great deal of information in an expected format that makes it easy to read. Use this format to add punch to your sentences. You dont want to do this in every sentence but use it at least once or twice in the statement. For example, I have a passion for emergency medicine, I have found it challenges my memory and knowledge, it is exhilarating, and the outcomes are immediate. Another example, I came to the U.S. expecting a great deal and I found my training here state-of-the-art, challenging, and satisfying. Simple, one-two-three.P: PersonalResidency programs are usually not extremely large groups, therefore programs are looking for diversity and personalities that will complement and work well with others in the program. Most applicants do not spend a lot of time describing themselves. This is okay, as its not a dating co ntest, but do take the time to describe your passions, motivations, and experiences in the target specialty as you describe your experiences. For example, Ive seen excellent sentences such as The approach to patient care was holistic and there was an emphasis on psychosocial history. I felt these factors made family practice exciting, versatile and challenging. Another example, I have been impressed by the vast array of clinical presentations and management options for cardiac diseases. I was fascinated by observing how a cardiologist can diagnose many valvular and other cardiac conditions using only a stethoscope.So there you have it, a quick personal statement SOAP note. Use the ideas presented here as your own checklist when reviewing your statement. Are my sentences simple and clear while also providing useful details about my experiences? Is my statement organized, does it lead the reader to conclude that I am an excellent candidate for this program based on my experiences and motivations? Did I add descriptive words, medical terminology, and experiences that demonstrate my mastery of the subject? And finally, is the statement personal? Does it show why I will invest so much time in this specialty?As I mentioned at the beginning of this article, most applicants at this level are already very accomplished in their professional and personal lives. Taking the time to edit, and finding a good editor to work together on this will provide you with the best possible opportunities and also let a little luck work her magic. Continued success to everyone!

Teaching Verbs to Children with Autism

Paper - 2310 Words

ABSTRACT: WidgeCorps’s management team had a lack in understand of some of the key multivariate statistical techniques used by many companies to measure how variables react with one another. This paper will discuss how three of these techniques are commonly used and provides a recommendation for the company to use as they move forward with research and development of new products. This paper also compares and contrasts the different multivariate techniques. KEYWORDS: multivariate techniques, Chi-Square Test, multidimensional scaling There are many different multivariate techniques commonly used in businesses across the world. This paper will compare three commonly used techniques including factor analysis, multi-dimensional scaling,†¦show more content†¦Gmail, a subsidiary of Google is able to track consumer data with every click that a consumer makes with their mouse as the cruise the internet. Market research firms collect data daily about consumers. They then make note of the buying and internet surfing trends of consumers. They use cluster analysis by putting the clusters or groups of consumers with similar trends together and then marketing new products or services to them, (Downes, 2012). Multidimensional Scaling: Multidimensional Scaling is another multivariate technique WidgeCorp could use while doing research. Multidimensional scaling is the most abstract of the multivariate techniques. While abstract, it was the easiest for me to comprehend. Multidimensional Scaling has two main objects. The first objective is to find a pattern somewhere in the data collected and presenting it visually for all to understand, (Wilkes, 1977). To visually display the data, Multidimensional Scaling places the data retrieved onto a three-dimensional plain. It is particularly useful when dealing with many different variables and allows the reader to see a visual representation on how they relate to one another. Multidimensional scaling is often used to test both the quality and safety of consumer products, (Yang, 2010). When researching the different multivariate techniques, I found some practical application of the Multidimensional Scaling method. The most interesting application I found was relating toShow MoreRelated Paper761 Words   |  4 Pages In the 1790s members of the industry in both Paris and London were working on inventions to try to mechanise paper-making. In England John Dickenson produced the cylinder machine that was operational by 1809. Although useful for smaller enterprises, this lacked the large scale potential of the machine resulting from the invention of Nicholas-Louis Robert in Paris, which had a more complicated incubation period. The last of the early improvements to this machine were financed by the Fourdrinier brothersRead MoreReflection Paper836 Words   |  4 Pagesand integrating quotes. Before my papers were full of â€Å"she said† and â€Å"she would say†; which was boring and showed poor ability to lengthen my word choice. I also had a tendency to just throw quotes in and not integrate it into my writings. By the end of my English 101 class my papers began to present with words like â€Å"the author noted†, or â€Å"she stated† along with many other word choices and proper ways of using quotes. Here is an example from my final research paper: â€Å"Author Stephanie Jackson, a certifiedRead MoreOn Behalf of Paper1685 Words   |  7 PagesFor centuries, people have read and learned on paper. It has loyally served man as the ideal vehicle for conveying our thoughts, feelings, and ideas. In recent years, an opponent has risen: computers. The computer brought the world to our fingertips, to the palm of our hands, but is this competitor superior? Should we drop the written and printed empire that had dominated and quenched our thirst for knowledge for so long? Paper has served an ever-changing world well, constantly adapting and morphingRead MoreReflection Paper1317 Words   |  6 Pagesused to struggle with forming my thoughts into writing, let alone a paper. I was never confident with what I wrote. My writing had no greater purpose other than the assignment. My writing process included: writing my paper, proofreading it, and turning it in. Once the paper left my hands, it also left my mind. Throughout this course we worked with others, visited the writing lab, wrote critiques, and we were able to revise our papers. I believe that all of this is has caused me to grow greatly as aRead More History of Paper1180 Words   |  5 Pages The first historical mention of paper is 104 A.D. in China. The Empress of China at that time loved books and wanted to have a lot of them made. At the time everything was written on silk scrolls which were extremely expensive and time consuming to make. She wanted something cheaper and easier to use and so she asked one of her servants, a gentleman by the name of Tsi Lun to come up with an alternative. He worked for over nine years experimenting with different things and finally came up with hempRead MoreImportance Of Writing Paper870 Words   |  4 Pages Writing papers have not always been my favorite thing to do. The main reason why I detested writing papers, was because I considered my English horrible. English is not my native language and learning it was difficult i n my opinion. Especially, when as a child the only place where you could speak English was at school. Other than that, the only language I was allowed to speak at home was Spanish. Throughout the years I eventually got the hang of it, and at the beginning of fourth grade, I was placedRead MoreCharacteristics And Quality Of A Paper1062 Words   |  5 PagesChoosing the right paper is more complex and it requires more work than just picking any expensive sheet and keeping your fingers crossed. To choose the right paper, you should not choose one based on the highest quality available, or the most expensive one. Instead, you should choose your paper based on the paper size options, durability, finishing, color, the paper weight, price, availability, opacity, and brightness. To choose between the function and quality of a paper is not very easy. It isRead MoreSelf-Reflective Paper 838 Words   |  3 Pagesfixed. Although it was a process, I finally got around to clearly understanding what the objectives were for English 1302 and how to apply them to my papers for this course. The first objective that is given in the syllabus is to meet the requirement of 20 pages total by the end of the course. The objective includes being able to revise and edit papers in a proper fashion. There was a time where revising and editing did not seem important, however, it can make a significant difference in a grade.Read MoreRecycling Waste Paper11594 Words   |  47 PagesPaper recycling  is the process of recovering waste paper and remaking it into new paper products. There are three categories of paper that can be used as feedstocks for making recycled paper: mill broke, pre-consumer waste, and post-consumer waste.[1]  Mill broke  is paper trimmings and other paper scrap from the manufacture of paper, and is recycled internally in a  paper mill.  Pre-consumer waste  is material which left the paper mill but was discarded before it was ready for consumer use.  Post-consumer  wasteRead MoreCarabao Grass Paper17210 Words   |  69 PagesINTRODUCTION History Paper is believed to have originated in China sometime around A.D. 105. Its invention is credited to a Chinese artisan by the name of Tsai-Lun. Tsai Lun created the first type of paper by mixing macerated cellulose fiber with water. His method was simple. He beat rags to a pulp and diluted this with lots of water. He then drained the resultant mixture through a form of a sieve. The fibers matted together and, when it dried, formed what we know now as paper. This papermaking process

Coca-Cola Co - Financial Analysis Example

Essays on Coca-Cola Co - Financial Analysis Term Paper Company Profile The Coca-Cola Company was founded in 1886 as a fountain pop beverage sold out of a pharmacy for five cents a glass. Today the enterprise has become a global icon with a wide variety of products sold across 200 nations. Its best selling product is its Coca-Cola Classic beverage, but as of 2010 the firm had over 3300 different products in the marketplace. The enterprise is a multinational firm that employees 92,800 people worldwide. The company estimates that the world consumes 1.6 billion servings of Coca Cola products daily. The mission of the company is to refresh the world, inspire moments of optimism and happiness, create value, and make a difference (Thecoca-colacompany, 2010). Financial Analysis Coca Cola is a company that has achieved tremendous economic success over the years. The firm has grown and in the process it has benefited its shareholders. The company has endured 48 consecutive years of dividend growth. In fiscal year 2009 Coca-Cola obtained revenues of $30,990 million. In comparison with 2008 the enterprise had a decrease in total sales of 2.98%. Considering the fact that the world during that time span was experiencing one of its worst recessions in modern history the decrease in revenues should not be too surprising. In 2009 Coca-Cola achieve a net profit of $6824 million and earnings per share of $2.95. Despite the fact the company decrease its revenues the firm was able to increase its profitability. In 2009 Coca Cola’s net income increased by 17.16%. Two of the reasons the firm was more profitable was due to the fact that its cost of goods sold and administrative expense went down. The net margin of the company was a very impressive 22.67%. The return of equity (ROE) and return on assets (ROA) of Coca in 2009 were 26.92% and 14.02%. In order to determine whether these metrics are good or not an analyst must compare the ratios against the industry standard. A database that provides excellent information regarding industry business ratios is the Dun Bradstreet database. Appendix A shows a snapshot of the industry ratios illustrated in the Dun Bradstreet database. The industry average for ROE and ROA are 24.2% and 5.6%. This means that Coca-Cola performance in both these ratios is better than the industry. In terms of ROA Coca-Cola is doing 2.5 times better than the industry. The net margin ratio of 22.67% is much better than the industry norm of 1.7%. The debt ratio of Coca Cola in 2009 was 2.09. The debt ratio shows the ability of a company to pay of its total debt. The general rule is that the debt ratio should be above 1.0. The position of the company is good because the firm debt ratio is twice the comfortable level. The average debt ratio in the industry is 0.83 which proves once again that Coca Cola is in a good position. Another ratio that measures the solvency of a company is the current ratio. The current ratio measures the ability of business to pay off its short term debt. The current ratio of Coca Cola in 2009 was 1.28. This ratio is calculated by the following formula: current liabilities / current assets. The same 1.0 rule applies to the current ratio which implies Coca Cola is in a favorable position. Despite having a current above 1.0 in comparison with the industry norm of 1.6 Coca Cola is not doing as well as the industry. A ratio that further tests the liquidity of a company is the acid test or quick ratio. The acid test is calculated similar to the current ratio except in the numerator the inventory is subtracted. The quick ratio of Coca Cola in 2009 was 1.10. Coca-Cola’s inventory composes only 13.41% of its current assets. The quick asset test proves the company is in a good position to pay off its short term debts. The working capital of the company which is another metric that measures a company’s ability to pay off its short term debt is $3830 million. The inventory turnover of Coca Cola in 2009 was 4.71. The inventory turnover provides information regarding how many times the company sold its inventory during a year. The average inventory turnover of the industry is 20.7. The discrepancy in this metric does not have too much significance due to the fact that each company establishes its inventory cycle. The industry norm includes a lot of small companies that cannot hold large inventory due to cash flow requirements. The debt to equity ratio of Coca Cola in 2009 was 0.92. The company has a good balance of usage of debt and equity since 48% of its operation has been financed by debt, while the remaining 52% was financed through equity. The industry norm is a debt to equity ratio of 1.41. In comparison with the industry Coca-Cola is doing well because it has not relied too much on debt to grow. Recommendation At first glance a person that does not know much about financial analyses might say that Coca Cola had a bad year in 2009 because it its revenues decreased in comparison with the previous year. In reality the truth is completely different. The Coca Cola Company had an excellent financial year. One of its most impressive stats was the fact that the company increased net revenue by 17.16%. The bottom line also referred to as profitability is much more important that total sales. The company has paid good attention to its leverage position. The financial analysis proved that the company is able to pay both its short term and long term responsibilities. Due to the size of the company and its proliferation worldwide the inventory cycle of the company is bit slower than the industry. Since the firm does not have any type of cash flow problem this metric is not a concern at all. Coca Cola was able to perform extremely well in the middle of a global recession. My recommendation as a financi al analyst is that the common stocks of Coca-Cola are a good investment. References Dun BradStreet Database. Key Business Ratios: Retrieved May 15, 2010 from Dun Bradstreet database. Thecoca-colacompany.com (2010). Growth, Leadership, and Sustainability. Retrieved May 15, 2010 from http://www.thecoca-colacompany.com/ourcompany/index.html Appendix A: Industry Ratios (Dun Bradstreet, 2010) Appendix B: Coca Cola Income Statement (2009) (Thecoca-colacompany, 2010) Appendix C: Coca Cola Balance Sheet (2009) (Thecoca-colacompany, 2010)

Dentist Essay Example For Students

Dentist Essay The Trip to the Dentist OfficeThinking to myself, is there any way I could jolt back in my car and head back for home, I enter the tall thin tan colored brick building and walk over to the elevator, hoping that the last half hour of scrubbing my teeth to death pays off. Nervously, I push the up button and patiently wait. The elevator door promptly opens and I am engulfed, the door closes, up I go. Once on the second floor, I exit the elevator and immediately I can smell the mixture of the wintergreen flavored tooth paste and the overwhelming aroma of bleach out in the hall, along with the sound of the teeth grinding drills which gives, no longer the feeling of the dentist office but of road construction area. With the opening of the outer door, the blast of cool air hits me giving a feeling of being naked in the cold brutal winter. I walk in and add my name to the list on the long sign in sheet. Andrew, the slim silver haired woman behind the winter white frosted glass slide window, sees me and lets me know that the dentist will be ready in a split second. While I wait hesitantly for the dental assistant in her crisp clean creme colored uniform to announce my name, I look at the tiny tropical turquoise splashed fish in the large crystal clear tank sitting in the corner of the room. The sleek silent fish dart about playing hide and seek with the plastic mermaid figure sunken deep at the bottom of the tank with the jewels of the sea. While the tiny silver bubbles gracefully slip to the top of the tanks surface and break silently while I wait my turn. Then I turn and look to see a photo album sitting on an ancient looking coffee table. I pick it up only to see mouthfulls of melancholy decaying teeth and gums. I quickly close the book thinking if I looked at it long enough I would turn to stone and shutter at the thought, but happy to know that mine are all there twinkling in the abundance of sunlight thats peaking in from the outside world through the streak free window. Finally, the nurse calls my name and I enter the inner office and s it in the cream colored trap looking chair, hoping that it will swallow me and send me any where but here. Looking at all of the shiny stainless steel tools gives me a feeling that I am about to enter war. Laying down the bright overhead light momentarily blinds me, then he starts the procedure. So, how have things been going with you since the last time Ive seen you Andy? he asks. Auuuuuuhhhhh right. Is all I could reply with. He laughs and continues to clean, polish, scrape, and floss. Spit in to this cup. He commands. With having to lean my head forward and spit into the cup was merely impossible with the heavy lead apron placed over me. I thought I had succeeded in that tiny task but as I rested my head back down on the chair I could feel some rapidly running down the side of my mouth. Alrighty Andy you are finished, free to go! he said happily. I was afraid to ask but it would eat at me if I didnt know now before he would call my parents to set up another incrushiating appointment. Do I have any cavities, Dr. Schall? nervously I asked. Nope, you are cavity free keep up the good work. He then hands me a new soft tip toothbrush and I leave the dentist office with a much more happier smile on my face, while I roll my tongue over my pearly whites.

Pit Bulls Essay Sample free essay sample

Pit bulls and terrier strains were created in early nineteenth century. for the popular witness athleticss of bull- and bear-baiting. In 1898 the UKC. Britain’s equivalent of the AKC. named these bull Canis familiariss the American Pit Bull Terrier. The AKC decided to acknowledge the strain in the early 1930s–but under a new name. Intending to divide it from its pit-fighting yesteryear. the AKC named it the American Staffordshire terrier. besides known as a cavity bull. These Canis familiariss have been used for protection non merely in places but in war. with the constabulary and even with famous persons. Unfortunately. this same strain of Canis familiaris now has a bad repute. being called a barbarous strain of Canis familiaris and bully’s. I would hold to differ though. I believe that yes. there are some really average cavity bulls out at that place but there are besides really nice and even celebrated 1s. We will write a custom essay sample on Pit Bulls Essay Sample or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Not all cavity bulls can be bad they aren’t born that manner. they are raised that manner. Stating a cavity bull is born aggressive is sort of like stating a babe is born to detest. In WW1 cavity bulls were considered heroes. America’s first war Canis familiaris. Stubby. served 18 months ‘over there’ and participated in 18 conflicts on the Western Front. He saved his regiment from surprise mustard gas onslaughts. found and comforted the wounded. and even one time caught a German undercover agent by his bloomerss. Back place his feats were front page intelligence of every major newspaper. He made it to Sergeant and received over 11 awards and decorations. Stubby was made a life member of the American Legion. the Red Cross. and the YMCA. In 1921. the Humane Education Society awarded him a particular gold decoration for service to his state. It was presented by General John Pershing. Pit Bull strains have become celebrated for their functions as soldiers. constabularies Canis familiariss. hunt and deliverance Canis familiariss. histrions. telecasting personalities. Sing Eye Canis familiariss and famous person pets. Historically. the Bull Terrier mix Nipper and Petey from the Small Rascals. are the most well-known. Lesser known. but still historically of import cavity bulls include Helen Keller’s household Canis familiaris â€Å"Sir Thomas† . Buster Brown’s Canis familiaris â€Å"Tige† . Horatio Jackson’s Canis familiaris â€Å"Bud† . President Theodore Roosevelt’s Pit Bull terrier â€Å"Pete† . â€Å"Jack Brutus† who served for Company K. the First Connecticut Volunteer Infantry during the civil war and Sir Walter Scott’s beloved â€Å"Wasp† . Many cavity bulls are celebrated for salvaging lives ; some cavities saved legion lives at one time. Weela. who saved 31 people. 29 Canis familiar iss. three Equus caballuss and one cat ; Popsicle. a five-month-old puppy originally found about dead in a deep-freeze. who grew to go one of the nation’s most of import constabularies Canis familiariss ; Norton. who was placed in the Purina Animal Hall of Fame after he rescued his proprietor from a terrible reaction to a spider bite ; Titan. who rescued his owner’s married woman. who would hold died from an aneurism and D-Boy. who took three slugs to salvage his household from an interloper with a gun. So who are we to state that all cavity bulls are bad? Pit bulls are really enthusiastic and really eager to delight. They love nil more than acquiring clinchs and busss. Pit bulls are really protective of household. They are besides really strong willed and need subject and most of them acquire bored easy. therefore being why they eat the house! Pit bulls are besides really determined. when they want out. they get out. Pit bulls were one time a mark of strength and self-respect to the United States and to the people who live here. The never- quit attitude was a major statement towards the United States. This now feared strain was one time posted in magazines. in advertizement and in films. Now today people fear this one time loved strain. They fear the atrocious myths environing the strain. They fear the bad repute of the strain. And yet this strain was one time a extremely dignified and loved strain. So I’m sure we will ever reason whether or non pit bulls are heroes or toughs. I believe that it all depends on the proprietor of this Canis familiaris. I personally have a cavity bull that is the love of my life. She is the best Canis familiaris I have of all time had and I besides have three immature kids at the house and I can candidly state that I don’t worry about her of all time aching them. If you raise a pit bull from a puppy and demo him love and train and learn them. merely demo them you care. so your puppy will turn up to love you and be a great Canis familiaris. But if you raise them to detest and desire to contend them with other animate beings so yes they are traveling to turn up barbarous and average. So alternatively of looking at the strain let’s start looking at the proprietors. All those who think its merriment to watch two animate beings fight to the decease. Or those who like to mistreat their pet. Those who like the thought of holding a Cani s familiaris but can’t of all time take attention of them. Pit bulls are a strain of Canis familiaris that needs love and fondness. If they go a twenty-four hours without person loving on them it changes them. The stating man’s best friend. good I have to hold my cavity is my best friend and I can candidly state she would make anything for me or my household and we would make anything for her.

12 Career Options for Political Science Majors

12 Career Options for Political Science Majors Political science majors are popular for a reason: theyre interesting, theyre current, and they open a lot of career opportunities for graduates. Fortunately, political science majors can apply their academic and, often, their political training in a wide range of jobs. 12 Careers for Political Science Majors 1. Work on a political campaign. You majored in political science for a reason. Put your academic interests to the test by working on a political campaign for a candidate youd love to see- and help- make a difference. 2. Work for the federal government. The federal government works in a variety of fields with people of all backgrounds. This offers many opportunities to develop subject matter expertise. Find one branch that interests you the most and see if theyre hiring. 3. Work for the state government. Federal government too big? Give back to your home state, or a new one, by working for the state government. Also, because of federalism, there are certain areas in which states have more control, so some areas of expertise may be a better fit at the state level. 4. Work for the local government. You may want to start off a little smaller and closer to home in your political career. Consider working for the local government, its a great place to get your foot in the door. City and county governments are a good place to start. 5. Work in advocacy for a nonprofit. Nonprofits are often busy working toward their missions- helping kids, fixing the environment, etc.- but they need a lot of help behind the scenes. That includes getting political support for their cause and thats where your degree can help. 6. Work at a politically based website. If you like to write, engage in online discussion, and help create a virtual community, consider working for a politically based website. You could also write for the political section of a website that is broader than politics. 7. Work in government relations in the for-profit sector. Working for a private (or even public) companys government relations department will allow you to blend your interests in politics with the dynamics of working for a specific company. 8. Work in government relations in the nonprofit sector. Interested in government relations but also in helping promote a cause? Many nonprofits, especially larger, national ones, need staff to help with government relations and advocacy. 9. Work for a school. You may not think of working at a school as political in nature, but many institutions- including colleges and universities, as well as K-12 schools- need help with your special skill set. This includes coordinating government relations, advocating for funding, managing regulations, and a whole host of other, interesting responsibilities. 10. Work at a magazine. Many magazines admittedly (or very clearly) have a political tilt. Find one you like and see if theyre hiring. 11. Work for a political party. Consider, for example, checking into whether the Republican or Democratic Party is hiring for its local, state, or national offices. You might surprise yourself with what you end up getting to do! 12. Teach.  Teaching is a great opportunity for the politically minded. You can help inspire a passion for political science and government in your students while also having summers off for your own political work.

Organizational Theories to Enhance the Performance of Individuals and Essay - 1

Organizational Theories to Enhance the Performance of Individuals and Groups - Essay Example From the classical theories, performance could be realized after the division of labor, to develop specialization and departments of different tasks to be carried out by different groups of people. This enhances quality output according to the expected standards. Motivation through monetary means and management functions in enhancing performance are also elaborated. The modern organizational theories put across ways of changing the organizational structure and developing the human potential as effective ways to spur performance. Performance is one critical area that managers should be sensitive towards, so as to benefit the organization. It is a domain that challenges managerial functions and its success or failure extends to be felt in other linked sections of the organization. Hence, the management has to come up with logical and focused initiatives to enhance performance and overcome the challenges in implementation and performance management. Organisations have their authority, c ulture, information and the acquired knowledge, as well as the motivational coordinated mechanisms to achieve their objectives. Often, the organization structure could vary from one another with some working with the formal line of management, while others are less formal; as a result, they differ in hierarchical structures and strictness in compliance to objectives. However, with the current trends of globalization, managers have to be keen and tactical to address the organizations problems in performance and decision making. This is because the markets, productions, sales and distribution in dealing with goods and services have become very competitive. Due to these factors, management has been categorized in different levels to lead in specific sections, such that the coordinated efforts of different managers.

Stock Market efficiency (Marks and Spencer) Essay

Stock Market efficiency (Marks and Spencer) - Essay Example Proponents of the efficient market hypothesis suggest that the market has a large number of players out to maximize profits. Each of these players logically analyzes the market information available so as to make an informed investment decision. This ensures that the market quickly and fairly represents all the available market in the prices of securities. There are three types of market efficiency; allocation efficiency, operation efficiency and pricing efficiency (Kraakman, 2003, p.11). Operational efficiency refers to the transactional costs involved in the selling and buying of securities. The operation of the London stock exchange is streamlined and well aligned to ensure operational efficiency. Allocation efficiency follows the premise that there are limited financial resources and therefore the existing resources are invested in the most productive way (Cassedy, 2004, p.6). This suggests that the investors are rational and that available capital is directed to the most profitable stock. Pricing efficiency is based on the premise that the stock fairly and instantly reflects information available in the stock market. Most of the theories developed in the area of market efficiency revolve around pricing efficiency. Pricing efficiency suggests that a security’s price reflects all the available information. Market efficiency can be said to exist in three distinct levels. These are Weak-form efficiency, Semi-strong efficiency and Strong-form efficiency (Banks, 2011, p.3).   The weak-form efficiency suggests a market that reflects all the past market information. The past information is fully and instantly reflected in the price of securities. This view therefore suggests that the past market information cannot be used to predict future prices of securities. This is because listed financial securities already reflect all past market data. Semi strong

Subcontractors

Subcontractors 1.0 Introduction Wikipedia (2009) defined subcontractor as â€Å"an individual or in many cases a business that signs a contract to perform part or all of the obligations of another’s contract†. Other authors, Gerald N. Hill Kathleen T. Hill (2005) defined subcontractor as â€Å"a person or business which has a contract with a contractor to provide some portion of the work or services on a project which the contractor has agreed to perform†. Generally, a subcontractor performs his work under a contract with a main contractor who is hired by the employer. In building construction, a main contractor usually hires a subcontractor to perform a specific task such as roofing, plumbing, electrical, cement work and plastering, as part of the overall project. Hence, if the main contractor does not pay for the subcontractor, then the subcontractor has the right to enforce a â€Å"mechanic’s lien† on the real property upon which the work was done to collect. There are three types of subcontractor that is: Nominated subcontractor (Specialist subcontractor) Domestic subcontractor Named subcontractor Nominated subcontractor is essentially selected or appointed by the employer for some specific works. If the employer wants to nominate a subcontractor for an element of work, then he will instruct the main contractor to use the nominated subcontractor through the architect. The element of work usually is the engineering package such as piling, structural frame or some ME services works. In this kind of subcontract, there is a direct contractual relationship between the employer and the subcontractor. On the other hand, domestic subcontractor is selected and appointed by the main contractor who is hired by the employer. The domestic subcontractor doesn’t have the direct contractual relationship with the employer but he contract with the main contractor. Domestic subcontractors usually execute the part of work from the main contract and supply or fix the materials and goods. The employer will not involve in the election of this kind of subcontractor and the main contractor take the responsibility of the subcontractor. The Named subcontractor is contractually same as the domestic subcontractor. However, the different between them is the employer states that which contractor is acceptable without take responsibility for their final selection and appointment. Chapter 2: Forms of Contract 2.0 Forms of Contract 2.1 Review the method of appointing specialist subcontractor JCT 98 The JCT 1998 is the pre JCT Form which was used when selecting and choosing the subcontractor. There are two types of subcontractor in this form of Building Contract which are Nominated subcontractor and Domestic subcontractor. In the JCT Form, except the Employer, the Architect has the highest authority in making decision. Nominated subcontractor is essentially appointed by the Architect or the Employer when they need the subcontractor in some specific works. Daniel Atkinson (1999) defined nomination as â€Å"sub-letting sections of the work allowing the Employer full involvement in choosing the company early and using the subcontractor’s expertise for design or coordination†. There are some reasons that the Employer nominated a subcontractor (Daniel Atkinson, 1999): The Employer can select any company that he likes to be his subcontractor without based on the price. The subcontractor’s design expertise and his knowledge can be utilized due to he can be involved early. Since the specialist subcontractor involves, the Contractor will not waste his time on some particular work which the Contractor does not expert in it. The Employer can understand his responsibilities clearly since the clear contractual liability is established. Delay in time can be prevented by the direct links and involvements are established. According to the Jennie Price (1994), the procedure of nominating a subcontractor under the Standard Form of JCT 1998, Clause 35.4: The Architect sends the both of invitation to tender in part 1 of the standard form of tender, NSC/T, and the relevant section of the employer/ nominated subcontractor agreement, NSC/W, together with the drawings/specification/bill of quantities which describe the work, to those companies the employer wishes to invite to tender. Then the tenderers complete the standard form of tender (part 2 of NSC/T) and the relevant sections of the warranty, NSC/W, and return both documents to the Architect. The Architect chooses the subcontractor, and arranges for the Employer to sign the selected subcontractor’s tender to confirm his approval of it, and to execute the warranty, NSC/W. The Architect nominates the subcontractor to the main contractor using the standard nomination instruction, NSC/N. He also sends the main contractor a copy of the invitation to tender and the successful subcontractor’s tender, the drawings/specification/bills of quantities on which the tender was based, and the executed warranty. After received those documents, the main contractor has the right of reasonable objection to the selected tenderer within 7 days. If he does not object, he must reach agreement with the selected tenderer on the ‘Particular Conditions’ set out in Part 3 of NSC/T. These include the subcontract period, insurance details and the identity of the adjudicator and trustee stakeholder. When agreement on the Particular Conditions has been reached, the main contractor and subcontractor sign Part 3 of NSC/T, and execute the subcontract articles of agreement, NSC/A, which incorporate by reference the subcontract conditions NSC/C. The main contractor sends a copy of the signed NSC/T Part 3 and the executed NSC/A to the Architect for his records. 2.2 Review the method of appointing specialist subcontractor JCT 05 JCT 2005 Form of Building Contract (with quantities) has been updated, amended, merged and retired most of its important contracts. This form was set out in clear, understandable, and well-ordered for the user and it had simplified on wording such as change the word â€Å"Determination† to â€Å"Termination†. There is a little deviation between JCT 1998 and JCT 2005 regarding to the subcontracting. In this form of Building Contract, the nomination of subcontractor has been omitted. According to the Chappell D. (2007), there are a lot of problems arise between the main and subcontractor since a project is not ready for the subcontractor to start his work on the anticipated date. Due to the delay of the commence work, the subcontractor may argue and claims for more money. On the other hand, Ndekugri I. and Rycroft M. (2009) stated that JCT 1998 had extensive provisions on nominated subcontracting but due to the bad experience from the inherent pitfall of nomination of subcontracting and its complexity, the provision has been omitted in JCT 2005. There are three principles of appointing a subcontractor under the JCT 2005 Form of Building Contract: Consent to sub-contracting (Clause 3.7) According to this clause, main contractor cannot appoint or subcontract whole or any part of works to anybody without the Architect’s or the Contract Administrator’s consent. However, the Architect also cannot withhold or delay his consent unreasonably. If the Contractor insists to sub-letting his works to anyone without consent, then the employer entitles to terminate the Contractor’s contract under clause 8.4.1.4. Besides that, under the clause 3.7.2, the contractor cannot subcontract the design portion to anyone without the Employer’s consent. Lists in Contract Bills (Clause 3.8) Under this clause, annexations of lists of subcontractor to work packages which are defined in the Contract Bills are required. Clause 3.8.2 has stated that the list of subcontractor must not less than three persons. Then the Architect has to choose among the three persons to be the subcontractor. It is similar as pervious clause that the Architect cannot withhold or delay his consent unreasonably. If the Contractor submitted the list which less than three persons, then either: The Employer and the Contractor shall by agreement add the names of other persons to make sure the list comprises not less than three persons; or The Contractor carries out the works by himself. Conditions of sub-contracting (Clause 3.9) The subcontract shall state the condition that upon the termination of the Contractor with any reason, then the employment of the subcontractor will be automatically terminated too under the Clause 3.9.1. Besides that, the subcontract shall provide that subcontractor cannot remove the site materials which have been delivered to the works without the Contractor’s written consent except for use on the works. If the materials or goods have been paid by the Contractor, then they will become the Employer’s property and the subcontractor cannot deny it. On the other hand, if the Contractor has paid the subcontractor for any site materials before their value is included in the Interim Certificate, then the materials will become the Contractor’s property. Under the Clause 3.9.4, if the Contractor fails to make the payment to the subcontractor, then the Contractor shall pay simple interest to the subcontractor until the payment is made. Then according to the Clause 3.9.5, the Contractor could get the warranty from the subcontractor for his execution of works within 14 days of receipt of a written request by the Contractor. If the subcontract comply the three principles above, then the Architect could select and choose among the three persons in the list to be the domestic subcontractor. 2.3 Review the method of appointing specialist subcontractor NEC 3 ECC 05 The NEC 3 ECC 2005 is essentially used by Government for public works such as road, bridge etc. In JCT Form, the Architect has the highest authority while the Project Manager has the highest authority in this NEC 3. He plays an important role in this Form of Building Contract especially in subcontracting. The Project Manager is the person who approves the appointment of the subcontractor by the Contractor. In other words, the Project Manager dominates in the selection of subcontractor. Under the Clause 26.1, the Contractor still takes the responsibility to the works even though he had subcontracted the works to the Domestic subcontractor. Therefore, the Contractor must select the subcontractor carefully in case of the omission of the subcontractor. However under the Clause 26.2, the subcontractor who has been proposed by the Contractor must be accepted by the Project Manager. If the Project Manager does not accept the subcontractor, then the Contractor cannot appoint such subcontractor. Under the Clause 26.3, the Contractor has to submit the proposed conditions of contract for every subcontract to the Project Manager for his acceptance and approval unless an NEC Contract is proposed. Besides that, if the Project Manager agreed that no submission is required then the Contractor is not need to submit it. This clause also stated that the reasons that the Project Manager does not accept the subcontractor who is proposed by the Contractor are: The subcontractor will not allow the Contractor to provide the works. The subcontractor does not include a statement that the parties to the subcontract shall act in a spirit of mutual trust and cooperation. Chapter 3: Reasons of why Nomination has been stopped 3.0 Reasons of why Nomination has been stopped In the opinion of Jennie Price (1999), the disadvantages toward the main contractor are some of the reasons that the nomination has been stopped. The Main Contractor will lose his right to choose his favorite subcontractor to carry out the part of works. He would hard to communicate with the subcontractor who is nominated by the Employer thus cannot cooperate well. Since the Main Contractor is forced to employ the subcontractor so he is unable to impose his own terms and conditions which are more commercially advantageous to him. Other than that, the Nominated Contractor is normally difficult to be managed and controlled since their direct link with the professional team and the Employer. They will not easily listen to the Main Contractor on the design works due to the works are their expertise. Since some of employer will repeat the business with the nominated subcontractor, then the said nominated subcontractor will monopoly in this industry. Other subcontractors will not have chance to receive the job and make them suffer in their incomes. On the other hand, quality of the works might be dropped due to some nominated subcontractors handle few projects in the same period. They cannot concentrate on a single project and make the quality of every works will be dropped. 3.1 Advantages and Disadvantages toward the Employer Jennie Price (1999) agreed that Nomination provides some advantages and disadvantages toward the Employer which are shown as below: Advantages to the Employer: The Employer is able to select the person whom he wishes to carry out the subcontract works. Through the warranty NSC/W, the Employer has the direct contractual link with the subcontractor. It can covers matters such as design or materials selection by the subcontractor. Disadvantages to the Employer: The Employer has to take the risks and bear the responsibilities on the Nominated subcontractor due to his omission of works. If any defaults have been found, then the Employer should bear the extra costs. There are no rights against the main contractor in the event of defective design by the Nominated subcontractor. The Main Contractor entitles to claim Extension of Time if the progress of the main contract works is delayed by the Nominated subcontractor. Besides that, he could also claim for the Loss and Expenses due to the delay of works which is caused by the subcontractor. Since the Main Contractor does not take any responsibility on the Nominated subcontractor, there may be lack of management of the progress of the works on site of the subcontractor. 3.2 Opinion for the new appointment procedure of subcontractor In my opinion, the new specialist subcontractor/supplier appointment procedures are more complex to render the duties of the Architect / Project Manager / Quantity Surveyor. This is because the design teams have not direct contact with the subcontractor. All the instructions which are given by the design teams are passed through the Main Contractor. That might be appeared some mistake in the communication. By the way, the design team also cannot directly manage the subcontractor since the subcontractor only contract with the Main contractor. Chapter 4: Conclusion 4.0 Conclusion After the research, we will know that the procedure of nomination in JCT Form 98 and the reasons for nomination under this Form. Then we know that no more nomination under JCT Form 05. We also get the three methods that appoint a specialist subcontractor in JCT Form 05. NEC 3 ECC 2005 is only for the government works and the Project Manager has the highest authority in this Form. As a conclusion, nomination provides some disadvantages to the Main contractor such as difficult to cooperate between them and the main contractor cannot impose his own terms and conditions to the subcontract. Besides that, the main contractor is usually hard to manage the nominated subcontractor because he has the direct link with the professional design team. Other than that, nomination will make the monopolies arise in the construction industry due to the repeat business between the nominated subcontractor and the Employer. Quality of the works is low since the subcontractor cannot concentrate on single project. The Employer needs to bear the risks and take the responsibilities on the nominated subcontractor. Hence, nomination has been stopped. Finally, in my opinion, there are a lot of benefits that nomination has been stopped since there were a lot of disadvantages. Chapter 5: References Atkinson D. (2009), Sub-Contracting. [Online]. Last accessed on 24th July 2009 available at http://www.atkinsonlaw.com/cases/CasesArticles/Articles/SubContracting.htm CHAPPELL, David (2007). Understanding JCT Standard Building Contracts Eight Edition, Abingdon, Taylor Francis. Gerald N. Hill Kathleen T. Hill (2005), Subcontractor [Online]. Last accessed on 24th July 2009 available at http://legal-dictionary.thefreedictionary.com/Subcontractor NDEKUGRI I. and RYCROFT M. (2009). The JCT 05 Standard Building Contract Law and Administration Second Edition, Oxford, Butterworth-Heinemann. PRICE, Jennie (1999). Sub-contracting under the JCT Standard Forms of Building Contract, London, Macmillan Press LTD Wikipedia (2009), Types of Subcontractor [Online]. Last accessed on 24th July 2009 available at http://en.wikipedia.org/wiki/Subcontractor#Types_of_subcontractor Bibliography Barnes P. and Davies M (2008). Sub-contracting under The JCT 2005 Forms First Edition, Oxford, Blackwell. GERRARD, Robert (2005). NEC2 and NEC3 Compared. Great Britain, Bell Bain. ME Contractor Magazine (2005), what sort of subbie are you. [Online]. Available at http://www.eca.co.uk/IndustryGuidance/CCandL/Download/WhatSortOfSubbieRU.pdf

Malcom Xs A Homemade Education Essay -- Papers

Malcom X's A Homemade Education Malcom X's "A Homemade Education" tells a story of how he gained knowledge by himself and how it guided his thoughts and ideas. Reading also molded his political views. Although Malcom X is a very outspoken person about racism in America, and throughout the world, I find that he has a right to be angry, but goes a little overboard on blaming whites. The story begins when Malcom is in jail and is given a book that he cannot understand because he can't read. This angered him a little and sparked a fire inside of him to learn how to read and write. Soon thereafter he went to the library in the jail and checked out a dictionary. He began to copy the whole dictionary learning word after word that he wrote. Upon completion of the dictionary, he started to read anything he could get his hands on. No matter what time it was, Malcom was reading. Despite being in jail, he felt as free as he ever could be. Reading and the ability to learn is what made him feel this way. After becoming a more educated man, he began to study the teachings of Muhamma...

Ace Hardware Store Entering Bahrain Market Essay

We have endeavoured to emphasize on the suggested strategies which will allow Ace Hardware to consider venturing into the Bahraini market. Therefore with the information provided and composed, we have the opportunity to examine comments of Ace Hardware which allows us to highlight key issues faced. Organisations need to recognize and meet demands of the exterior factors which include threats and opportunities to uphold their competitiveness in the market. Henceforth, the intention of this report is to essentially investigate and assess the outlook of Ace Hardware Corporation in relation to expansion and growth in the Bahraini market. . 0 Introduction Bahrain is one of the unique countries in the Middle East. It alone has a stable economic climate and welcomes foreign investment with a highly business friendly culture thus making it an efficient country to start business. Introducing Ace Hardware to the Bahraini market because of a numerous aspects such as retaining 100% foreign owner ship and low taxation, provides a free, open and transparent environment that fosters growth, legal system protects companies’ rights, while their free market environment allows businesses to thrive. . 0 Industry Business Description The ACE Hardware Corporation is a well-known wholesaler of hardware and home-related products; the organisation offerings include safety equipment, plumbing products, outdoor living products, pet supplies, door handles, electrical tools, lawn and garden accessories, furniture, home appliances and many more. ACE has been affianced in the wholesale hardware business and has offered dealerships to retailers of hardware and associated items since the company in Illinois commenced incorporating in 1927. Today, ACE is the largest retailer-owned obliging and vibrant leader in the convenience division of the hardware business in terms of wholesale and retail sales and strength of the brand. 3. 0 Company description According to (Irwin, 2012), Ace Hardware ranks highest in satisfying home improvement retail store customers for a sixth consecutive year according to the J. D. Power of Associates Home improvement Retail satisfaction Study of 2012. This measured customer satisfaction with home improvement retail stores, based on the performance of five factors: merchandise, price, sales staff, sales & promotions and store facility. The organisation emphasizes on service and modern retailing techniques and has helped locally owned operated ACE retail stores confront intense competition from Home Depot and Lowe’s. In addition, it provides numerous value-added services such as marketing, advertising, merchandising and design services to its retail members. ACE’s 4,600 stores in all 50 states and more than 60 countries generate annual retail sales of approximately $12 billion (ACE Hardware Corporation, 2012). 3. 1 Type of business Retail Sales ACE’s 4,600 stores in all 50 states and more than 60 countries generate annual retail sales of approximately $12 billion (Ace Hardware Corporation, 2012). Dubai, Shanghai, Canada etc. Applying a Teradata warehouse permitted 2,500 Ace Hardware retail stores to transmit daily a point of sale (POS) transaction detail. According to (Murphy, 2007), â€Å"Teradata is the world leader in data warehousing solutions with a proven track record in retail, as we discovered when we sought vendor references. That experience, including customer relationship management, category management and business intelligence, made Teradata the right choice for Ace Hardware. † Basically, Ace relies on active warehouse data from Teradata, which has delivered a single repository for retail and wholesale sales, purchasing, customer information, financial data and inventory to essentially support large varied workloads. Wholesale In addition to its 14 retail support centres in the United States and freight forwarding operations on the West Coast and East Coast, ACE features three international distribution centres in Dubai, Shanghai and Panama. The international distribution centres provide: 1. Easier access to core stock of leading brand products and certified ACE products through their global supply warehouse 2. Online ordering systems 3. In-market fully operational support offices. â€Å"It is very useful to have Ace as a partner for this type of market. It is nice to be able to replenish your inventory on a weekly basis, which makes it easier to control. Our goal is to be a one stop shop for everything in your home, and we can do that with Ace. The people in the community can buy the Ace brand with confidence because it’s proven to be a good quality product. Jorge Ossa  Commercial Manager, Cemaco – Guatemala (ACE Hardware Corporation, 2012). ACE has established an accurate and demonstrated operating model for effective and efficient distribution allowing ACE Hardware retailers the wholesale benefit they require to be successful and profitable. Below are the some of the wholesale advantages available for ACE Hardware store owners:- * Lowest cost of goods * Named #1 Distributor according to Home Channel News in 2009, 2010 and 2011. (Home Channel News, August 2011) * #1 in wholesale sales at $3. 5 billion (Hardware Retailing, December 2010 ) * The combined buying power of over 4,100 locations To support the growing number of international ACE retailers and leverage international wholesale opportunities, ACE opened the Ace Global Distribution (ASG) warehouse in Shanghai, China 2006 (ACE Hardware, 2012). 3. 2 Legal Structure Each Ace Hardware store is individually owned and operated by local entrepreneurs – hard-working, passionate business owners who are involved with and, many times, exist in the communities where their stores are based (Ace Hardware Corporation, 2012). . 3 History ACE Hardware organisation was founded when Richard Hesse, Frank Burke, Oscar Fisher, E. Gunnard Linquist, William Stauber unified to form a purchasing and advertising enterprise among their Chicago- area hardware stores. Moreover, their combined buying power allowed the store owners to negotiate lower prices on merchandise acquired from wholesalers. Therefore, embracing the ACE name in 1927 and incorporated the succeeding year. Frank Burke served as president of the group and was succeeded by Richard Hesse in 1930. Over the next two years the firm progressed into a hardware organisation, obtaining directly from producers and storing merchandise in its own warehouse in Chicago. This strategy allowed ACE to further reduce costs by removing ‘middlemen’ wholesalers (Anonymous, 2012). Moreover, during its first half-century of operation, ACE was basically a conformist wholesale group, and its profits were distributed equally among shareholders. The company’s low-cost purchasing and distribution procedures quickly enticed new employees and franchisees. By the mid – 1930’s, the organisation had 41 members and sales of more than $650,000. Throughout history, ACE has accomplished to solidify their position as one of the strongest and leading competitors in the hardware industry. 3. 3. 1 Mission The mission of the ACE team is to ensure that their customers are satisfied. According to (Anonymous, 2012), â€Å"When something goes other than the way it was planned, we do everything in our power to make it right. You have the ACE promise on that†. In relation to corporate social responsibility (CSR), ACE Hardware has partnered with the CMN hospitals to give back to communities. The ACE Foundation has raised over $50 million since 1991 to help sick and needy children through partnerships with Children’s Miracle Network (CMN) hospitals. ACE also supports the American Red Cross Natural Disaster Relief Fund through donations of work gloves, shovels, mops, bottled water and more (ACE Hardware Corporation, 2012). Once again, ACE is proud to serve as a sponsor of the Champions program. The retail stores and ACE foundation organise a myriad of fundraising initiatives, many of which our generous customers are welcome to get involved. Furthermore, these fun and unique experiences raise much-needed funds that essentially result in the power to change lives and treat sick children at the Children’s Miracle Network Hospitals around the United States. Miracle Jeans Weeks is a program where employees throughout the company wear jeans during the company’s five designated Miracle Jeans Weeks each year. Furthermore, with a cost of $1 per day and almost 900 people on campus, it’s never in doubt that thousands of dollars are raised yearly from this enterprise. 3. 3. 2 Goals & Objectives One of ACE’s goals is customer satisfaction as they value their customers. â€Å"We know our customers want to be spoken to in a more personal manner, rather than in a blast† says Rich Neal who is ACE’s one-to-one manager. â€Å"So we have robust analytics team, and follow-up purchases with thank-you emails and direct mail, broken down into eight categories, including grilling and lawn and garden† (Mahoney, 2011). Therefore, for ACE Hardware customer satisfaction isn’t just an idea, it’s basically the entire purpose. According to (Marketing charts staff, 2011), J. D Power and Associates (2011) U. S Home Improvement Retailer Satisfaction Study, Ace Hardware ranks highest in satisfying home improvement retail store consumers, accomplishing a score of 786 on a 1,000-point scale, for the fifth consecutive year.. The study, now in its fifth year, measures customer satisfaction with home improvement retail stores which is built on the overall performance on five aspects: staff and service; store facility (including merchandise and cleanliness); merchandise (product information details); price; sales and promotions. 3. 4 Company Structure Ace’s Board of Directors establishes guidelines for Ace management. There are between nine to 12 director positions. Ray Griffith assumes the role of president and CEO and David Ziegler as the chairman of the board. 4. 0 Ace Product analysis: Ace hardware store offers an extensive range of more than 30,000 quality household products from kitchen mops to garden furniture and camping equipment. Ace’s product range consists of the everyday items such as sponges and shower curtains as well as occasional purchases such as wall paints and lawnmowers. Ace’s Products are categorized into: Outdoor Lifestyle: Ace has a wide range of outdoor lifestyle products to suit distinct tastes and needs -Outdoor furniture -Camping -Barbeque -Pools and spas -Outdoor constructions Gardening: a stimulating selection to meet outdoor gardening needs. -Gardening tools -Seeds -Indoor/outdoor plants -Pots and vases -Watering -Fertilizers and chemicals -Landscaping -Fencing and edging -Water features -Garden decor -Garden lighting -Shades and turf DIY: With the widest product range, competitive prices and informed staff, ACE is the choice for D. I. Y. enthusiasts. All ACE stores offer a wide selection of Tools, components and essentials for DIY as well as the biggest range of world renowned brands in power tools. ACE also provides free advice and solutions on any hardware or D. I. Y problem as well as free repairs on power tools under warranty. -Power tools -Hand tools -Hardware -Fastenings and fixings -Tool Storage -Timber -Electrical -Security Equipment -Safety Automotive: Ace has a wide range of quality automotive products. From accessories, cleaning and car care products, sunshades, 4X4 accessories and emergency kits to enhance the looks and performance of your vehicle. 4Ãâ€"4 adventure -Car Cleaning and Maintenance -Car Interior -Emergency and Safety Painting and Decorating: Ace offers more than 16,000 colors of paints; customers also can mix their own colors to come up with their ideal paint pallet. Ace provides all the necessities needed to complete the process of decorating homes. -Paints -Paint Equipment -Adhesive and fillers -Wall c overing -Arts, crafts and hobbies Home ware: ACE home ware has a complete range of lifestyle accessories all under one roof. -Cleaning, Laundry -Storage, Packaging -Living -Bed and Bath -Kitchen -Electrical -Wellness Pet Care: ACE offers a range of pet supplies and related pet products and accessories catering to dogs, cats, birds and fish. Ranges vary from pet food, toys and other essential pet care accessories. Services: Rental service: The Ace Rental Place offers a wide variety of equipment for rent on a daily, weekly or even monthly basis, great for items required for few usages or simply to try them out before deciding on the purchase. All rental items are well maintained with expert customer service. Customers can rent the following items:- †¢4 Burner Gas Barbeque †¢Upholstery/Carpet Cleaner †¢Generator †¢High Pressure Cleaner †¢Port-a-cool Ladder 16ft Multi-master In store services: -Assembly – Installation/key cutting -Automotive chip key cutting- Pipe Cutting and Threading -Blade sharpening – Screen Repair -Computerized paint – color matching- Small Engine Repair -Delivery- Special Order Services -Glass and acrylic sheet cutting -Glass repair -In store lock servicing 4. 1 Customer profile/demand analysis: Aces vast range of products and services encourages a diverse range of customers with different needs and wants. Hardware stores in general often prioritize their target market as home owners as the products they offer are mostly for household use. Ace is more than just a hardware store that just sells tools for men, it’s a superstore that attracts both men and women who are making decisions in the appearance and upholding of their homes. Loyal customers As part of a customer retention strategy the Ace marketers have focused their attention on customer insights, by creating a card-based loyalty club – the Helpful Hardware Club (HHC) customers at the store can sign up to the program making them eligible purchase discounts and special offers. Ace targeted the Lifestyle segment to boost their retention program causing evenues to rise 5. 4 percent as lapsed customers were enticed by discounts to return to their local Ace stores. (Nielsen 2009) Aces product portfolio also consists of outdoor leisure activities targeting consumers that are not necessarily home owners or prime decision maker with the household. Products for occasions such as camping or barbequing target a segment of active leisure consumers. This segment broadens ACEs target market outside home owners. The demand is not only in home improvement products but also in the items needed to care for them. This demand has forced manufacturers to introduce a large range of new cleaning products which targets upscale shoppers who desire convenience and a more natural, non-toxic product. Current market Bahrain is regionally known for its cosmopolitan lifestyle suggesting sophisticated consumers, with their relatively high purchasing power these consumers have a high willingness to spend especially on premium products and brands. 4. 2 Competitive situation: (Ellen 2010) Ace Hardware Corp the largest retailer-owned cooperative in the hardware industry by sales and the second largest dealer-owned cooperative in the United States. Ace’s innovation is what led them to establish the strong position they hold today. With over 4,000 stores in 60 different countries ACE hardware were ranked 8th in franchise directs top 100 global franchise’s (Francise Direct 2012). Ace hardware store faces intense competition within the United States. The US home center, hardware store and home improvement retail industry includes about 23,000 hardware stores and home centers with combined annual revenue of about $150 billion. The home center segment of the industry is highly concentrated: the top four companies account for more than 90 percent of segment revenue (Hoovers 2012) The success of individual companies depends highly on competing low-cost purchasing, effective merchandising, and competitive pricing. The top three competitors of ACE are:- †¢Lowe’s Companies Inc. †¢The Home Depot Inc. †¢Do it Best Corp Despite the intense competition in their domestic market, ACE has an opportunity in Bahrain as the Hardware store industry is not as well developed leaving space for entry in to the market. However, there will of course still be some Potential Competitors in Bahrain that Ace will have to face:- Ace’s direct competitor in Bahrain will be Manazel Hardware store; Manazel first opened its doors in October 1995 at Salmabad, Bahrain. It is a family owned business based in Bahrain. Carrying more than 50,000 products ranging in over 20 categories, some of which include: Furniture, Home ware, Hardware, Bathroom ;amp; Plumbing accessories, paint and Sundries, Outdoor Living, Garden Furniture and Accessories. Their Materials are sourced from all around the world to provide everything for your home and garden. Manazel 2012) Ace could initially face challenges competing with Manazel due to it being a locally based company, depending on the loyalty of their consumers it could be difficult in convincing them to switch to ACE. Ace has the advantage of being a well-established global brand and with the high rate of expatriates in Bahrain they may naturally prefer to switch to a m ore recognized brand. Ace will also face competition amongst the small local hardware and tool stores. These stores are popular amongst price sensitive customers. 5. 0 Environmental factors 5. 1 Host Country Business Climate: Bahrain offers very distinctive traits in the Middle East. It enjoys a stable economy climate and competitive costs. It has an amazingly business friendly climate which is an attraction for ACE and other companies to do business in this country, it has an excellent regulatory framework, and supportive government policy (Najjar 2011) The Host country for ACE Hardware is Bahrain, Bahrain is an Arab country with a total land Area of 712 square kilometres, a population of about 1,234,571 (end of 2012), out of which 666,172 are locals, according to the central bank of Bahrain. The main towns in Bahrain are Manama and Musharraq, the climate is mainly very hot and humid, language is mainly Arabic, but English is widely spoken. The metric systems used include 1dhara=48. 26 cm, 1 rafa=254 kg, the currency is the Bahraini Dinar (BD) = 2. 65 USD, the Time is 3 hours ahead GMT (Bahrain: Basic Data 2012). Bahrain is an Arab country and has the monarchy system, the ruler, king Hamad bin Isa al-Khalifa is expected to be secure for some ime to come; the Al-Khalifa family has control over most of the executive branches of government and legislature remaining weak. There will however always be primary tension over economic and financial inequalities, with the halting pace of political liberalisation of sectarian discrimination. Real GDP growth for Bahrain was expected to slow down to 3. 1% in 2009, as mainly international demand for Bahrain exports is weakening, but was expected to recover to 3. % in 2010 (Bahrain economy, 2009), and is expected to rise up to 4-5% in 2 012 due to increases in crude oil production, manufacturing and government spending according to the Economic Development Board (EDB) (Andy 2012). Bahrain’s business climate in 2007 attracted almost $1 billion worth of investments in new projects in 2007 as reported by Dr Hassan Fakhro minister of Industry and Commerce, He also went ahead to mention that new investments in the new projects were worth 373. 3m Bahraini currency, which is about $987. 6 million and these new projects also created about 13, 536 jobs in the country (Middle East Financial News 2008). Oil production output from Bahrain’s single aground field is in decline however, and the monarchy government is aware of the country’s vulnerability to changes in oil prices globally, with oil being the major source of government revenue for the country accounting to more than 70% of the economy. The economy of the country also relies heavily on goodwill received from Saudi Arabia, which runs a large offshore oil field whose production it shares with Bahrain. All these limited resources has made Bahraini government to have the strategy of diversification in order to prosper, increase the role of the private sector and provide a welcoming environment for foreign investment. FIGURE 1. 0: BAHRAINI GDP 2001-2012 BAHRAINGDP GROWTH 2001-2012 200120022003200420052006200720082009201020112012 4. 6%5. 2%7. 2%5. 6%7. 9%6. 7%8. 4%6. 3%3. 1%4. 5%1. 8%2% SOURCE: global finance: Bahrain Country Report 5. 2 SWOT ANALYSIS: Strengths; ACE hardware is a strong brand both across the USA and the world stage, with more and more expansion into the global markets into several countries across all the continents of the world. ACE has the resources and ability to pursue growth in multiple directions, with the ACE leadership team making a smart decision of focusing on their paint production, which has made them gain a huge customer base and customer loyalty (Bueno 2012). In 2010 ACE hardware has generated in excess of $3. 45 billion in wholesale and retailers enjoyed the added bonus of collective buying power at this volume by getting a decreased cost in goods, which has built the basic foundation for a more profitable option (ACE 2011). ACE produces many DIY products and many changes have taken place in this market over the last 85 years, ACE ownership however still remains the on top in customer satisfaction according to Business week and was ranked â€Å"highest in customer satisfaction Among home improvement stores four years in a row† (JD power and Associates) ACE hardware also enjoys major success in the market share with the help of top of the range advertisement and reduced goods cost, it has slowly established itself to be a major player in the global market for hardware products. ACE also expanding its wings to get a piece of the business boom, and with the advantage of an established brand name, it will be relatively easy to penetrate under developed markets as more businesses would want a merger with them as opposed to its rival companies. ACE is a sophisticate and established brand worldwide, and has adopted the new technologies as they come which has giving the company a competitive advantage as they are more organised and technologically more advanced, which has led to reduction in production costs for the company. The expansion of ACE into the global market has seen it gain market share, more so than their competitors such as Home Depot, Lowe’s etc. Weaknesses; ACE hardware has relatively small stores, compared to their rival companies like Lowe’s, Home Depot and Menards on selection ACE Hardware in 2008 reported a net income of $10. 8 million for the first quarter of 2008, which was a decrease as compared to 2007 when they reported $14. 1 million which was a $3. 3 million decrease. The company also reported earning s before interests and taxes of $13. million in the first quarter of 2008 as compared to $29. 2 million in the first quarter of 2007 (9) ACE hardware has encountered losses resulting from physical damage to breakdown of its computers in the European market, which has led to replace damaged computer hardware, the reinstatement of lost programs or Data and also had to increase working costs as a result of the problems (10). Opportunities Bahrain’s financial freed om ranking is 77. 7, making its economic system the Tenth freest in this year’s Catalog (2012). Its overall ranking is 1. 4 points higher than last year, with upgrades in trade freedom; investment freedom, work freedom, and freedom from data file crime error. Bahrain is rated 1st out of 17 nations in the Centre East/North African-American area, and its financial freedom ranking is well above the world average (Bahraini economic development Board, 2012) from the perspective of Ace this reduces business constraints giving them the freedom to commercialize their brand and reduces limitations on investment. Situated near commercial establishments in the Gulf with a causeway relationship with Saudi Arabia and the rest of the GCC, Bahrain is seen as a gateway to the Gulf, an industry of over 100 thousand individuals. Bahrain’s variety and openness keeps presenting opportunities for exporters. It has the most varied economic system in the Gulf Bahrain does not currently have a competitive hardware industry with only a few entrants and one major Hardware store giving ACE the flexibility to enter and the means to operate however they choose. The hardware market ACE is involved in is a highly competitive market, it takes a lot of marketing research by ACE and expensive research and new technological adaptations for the company to stay ahead of competition, couple with the reduced purchasing power of consumers due to economic downturns globally have been detrimental to business for ACE. Threats The law requires that you have a local partner who maintains most majority interest and can therefore manage the company and can close it anytime he wishes. The local partner, be it an organization or an individual, does not need to give rise to the start-up financial commitment or take part financially at all. (Bahrain, 2010). This could mean lack of security for ACE as there is the chance of being closed down with no warning or notice. The changes in labor Laws and regulations constantly by the US and other countries have been detrimental to their expansion, other domestic and international factors also have to be considered by ACE before entering into any market in any country, such as culture, corporate social responsibility obligations are all external factors that ACE has to consider. The process of opening a business in Bahrain is complicated and economically dangerous, significance that local information is essential. You must also seek advice from a good attorney from the beginning. A knowledgeable attorney will provide information to you through the signing up complications and his help will be important in defending your interests. This is applicable whether you are starting a moderate shop or a big enterprise (Bahrain 2010) The current Political unrest in Bahrain creates an unpredictable business environment. If the unrest becomes worse this could have major effects on Ace’s business activities in the region, currency fluctuations and could see reductions in the amount of expatriates present in Bahrain causing Ace to lose a large part of their target market. 5. 3 Government constraints in Bahrain Economic growth The economic growth is for Bahrain is likely to slow down in Bahrain; it went down to 3. 3% in 2010 as regional growth in the country as government finances are getting squeezed. Local consumption of private homes and offices is expected to slow sharply, with no a real positive growth in the employment sector. However government consumption growth in Bahrain is forecasted to also slow down. For ACE however the major demeaning factor of business entry into Bahrain would be the limited fiscal constraints in the country, as well as the subdued outlook for global direct investments flows. And the demand for exports and of goods and services is also forecasted to decline, ACE might have a hard time penetrating into the Bahraini market (Ace Hardware 2008). Economic policy An advantage for ACE going into the Bahraini market is the countries determination to move away from the oil sector. The government is determined to stimulate the private sector growth and foreign investments, and address high unemployment problems (Bahrain News Agency 2012) this would be an advantage to ACE as the government will give them an advantage of being accepted into the country without many business constraints. They can be assured of government support which is a large determinant of business success or failure for any business going into another country. Inflation and the exchange rate Consumer price inflation is expected to moderate in the coming years because of slower domestic demand growth. But with a relatively strong currency against the Euro and the Dollar inflation is expected to slow down an average of 1. 8% in 2009-2010. The Bahraini government is intending to enter into a currency agreement with Saudi Arabia, Kuwait and Qatar, and with the UAE, which has pulled out though, and the government and the central bank of Bahrain is expected to maintain the dinar’s value and peg it at the rate of BD0. 67=$1 that has been in place for 3 decades (Bahrain News Agency, 2012). Setting up a business in Bahrain For ACE hardware it would be good news for them to know that Bahrain is ranked first in the Economic freedom index in the Middle East and North Africa (MENA) region, and is seventh overall globally according to the Fraser institute Report 2012. The report by Fraser classifies these countries by using themes such as governm ent volumes, legal system, and intellectual property rights security, accessibility to sound funds, freedom of international trade and organization credit, manpower and companies. All these factors are important criteria to be considered by ACE before going into business in Bahrain. 5. 4 PEST ANALYSIS Political Legal Environmental Laws Bahrain has set up a strict law on polluters as fines of up to $133,000 are issues under Bahrain’s new environmental protection law, this is the first law of it ‘s kind related to anti-pollution in the Persian Gulf state. This law covers everything from car emissions, noise and workplace pollution, as well as handling and disposing of hazardous waste materials and chemicals. This is in accordance with what ACE has to achieve to be successful in Bahrain by practicing Corporate Social responsibility (CRS) to maintain the environment in Bahrain or risk serious government and legal issues (Pittsburgh Post, 1996) Stability of the Government Bahrain has entered into an era of instability due to a combination of the Arab spring recently, longstanding local grievances, the competition of regional powers and other external forces. The solution to this problems can be dialogue between the ruling Al-Khalifa Family and all opposition parties. The crisis has however slowed down in recent times with more and more dialogue and compromises being reached between both parties (Bahrain’s Quest for Stability 2012). Economic GEP growth in Bahrain In 2004 the Bahraini GDP has been reported by the ministry of commerce to have grown by 5. 2% from the previous year, this has been largely due to increase in foreign direct investment flow (Middle East 2004) and has been growing ever since with a reported GDP of 2. 1% increase in 2012. Currency The Bahraini currency is the Dinar and at 0. 67 Dinar to a US Dollar it is one of the strongest currencies when it comes to exchange in the World. Consumer price inflation is expected to moderate in the coming years because of slower domestic demand growth. This for ACE can only mean good news as it will be a positive currency to work with and no inflation worries that have to be considered by ACE. Social Population distribution in Bahrain The Bahraini age distribution has been as of the ye ar 2010 the kingdom was 1,234,571, part of which 568,399 were locals and the other 666, 172 were non Bahrainis. This from 2001 the population was 650, 604, this is an increase of 89. %. However, the population of the locals has decreased from 2001 to 2010 reaching 46% from the previous 62% in 2001. The proportion of the population of Bahrainis in the total population during the period from 2001 to 2010 decreased, reaching 46% in 2010; while the corresponding figure in 2001 was 62%. The percentage of non-Bahrainis increased 54% in 2010 while it was 38% in 2001 (Census, 2010). This shows an increased number of expats coming into the country which will mean for ACE that products should not only be made to suit the local citizens but the majority foreigners, which means overall business strategy has to change. Religion and Language: The official language in Bahrain is Arabic; however English is widely spoken mainly in business meetings and other social interactions. The non-Bahraini in the country mainly speak Farsi an Iranian language, or Urdu which is a Pakistani language. The main religion in Bahrain is Islam, which is the 2nd largest religion in the world, Muslims in fast for a month every year in the month of Ramadan. The Bahrainis though make use of both the Islamic and western calendar but mainly use the western calendar for business operations. Business meeting etiquette Appointments are necessary, morning meetings are preferred. However meetings are not advised during the months of August and July because most Bahrainis travel out the country when the heat is at its worst. , they are quite time conscious, so arrive at meetings on time. Personal topics should generally be avoided unless the relationship has developed or there is need to discuss matters confidentially. Bahrainis usually have an open door policy, so meetings do get interruptions. Business meetings also start after a long talk about health, family etc. Business Negotiation Etiquette The building of trust is important since trust is required in order to conduct business. Bahrainis are very time conscious and time driven, the actual meeting is more important than the timeliness or outcome. Bahraini organizations are hierarchal, the highest ranking employee or worker reaches decision. Decisions are top down and lower level employees usually have no say. Decisions take a lot of time; if you try to rush it will be perceived as rude and disrespectful. Technological The economic system in Bahrain relies upon intensely on innovative petrochemical technology, and many Bahrainis have had or are getting specialized training at several universities all over the country. Technology is just coming up in Bahrain with many projects being undertaken in recent times, but perhaps the most important is the Bahrain Green Tech EXPO which is dedicated to the green consumer products. Due to the high demand for environmental protection globally, Bahrain has taken this as the only business to business trade show focused specifically on ECO friendly consumer products. 6. 0 Business Strategies 6. 1 Product /service positioning Positioning is what the customer believes about your product’s value, feature, and benefits, it is a comparison to the other available alternatives offered by the competition (Jackson, 2012). Some basic strategies include:- By attribute or benefit This is the most frequently used strategy in positioning. In this case, Ace hardware’s products are mostly house used products, and the benefits they can give to the customers are the after service, and the quality. The after service they give is mostly repairing, assembling and delivery. Level of service and quality of a product offering are the main influences of developing a strong brand image. By user Customers often choose brands that identify with their own self-image. Ace should position itself to suit the image of the end user. Therefore ace should focus on the wants and needs of their target audience and how they perceive themselves and the brand. By competitor Competition wouldn’t be much of an issue for Ace since they would be entering a market that is not fully developed in Bahrain with few competitors. But they should remain aware of new entrants which are always a possibility and they need to be aware of the changes that may occur. By price or quality Price and quality are directly related in minds of consumers, People are willing to pay premium prices for premium brands that are have high quality. It is very important for Ace to identify where they want to be placed on the pricing matrix shown in figure 1. Ace product offerings vary in brands therefore prices will also vary depending on brand and quality. 6. 2 Pricing strategy Because of Ace’s diverse product range of brands they would need to use more than one pricing strategy. Using the pricing matrix above ace could use this as a guidance to set appropriate pricing strategies. Premium Pricing: One pricing strategy suitable for Aces different brands is premium pricing. Certain brands offered by Ace are luxurious brands with high quality and high price. It is clear on the matrix for these products Ace should use premium pricing which allocates high prices to those brands Economy Pricing: Ace also offers products at more affordable prices however they may have lower quality then premium brands. These types of products attracts customers that are not willing to spend excess amounts of money and would rather spend less for less quality Competitive Pricing: ACE could also use competitive pricing strategy to set benchmarks on their own prices. This strategy is most effective when there are limited competitors in the market which is the case for ACE and Manazel. Ace has a clear advantage over Manazel as it is a globally established company enabling them to set their prices slightly higher than Manazels. Estimated Selling Price: The estimated selling price for ACE hardware products in Bahrain would have to be set under consideration of several factors, such as the GDP of the country, the purchasing power of the country, the competitor prices and the strength of the Bahraini currency The GDP is the value of all final goods and services produced within a nation over a period of a given year. The Gross domestic products (GDP) of Bahrain is the lowest in the Middle East with a reported $32 billion in 2011, however when it comes to consumer purchasing power of Bahrain, it is ranked fifth in the Middle East with a reported $27,900 in 2011. ACE can base it’s pricing on this and compare to its most similar market which is the UAE which is ranked second on the purchasing power list in the Middle East with $48,800 in 2011 (Index mundi, 2012) The Bahraini currency is a major factor for setting prices, comparing to the UAE market which is the closest to Bahrain both geographically and economically 1 Bahraini Dinar = AED 9. 7 so prices can be higher for the Bahraini market considering the difference in currency strength. Bahrainis live a very cosmopolitan lifestyle and would be prepared to buy from expensive and established brands (Numbeo, 2012), which will mean ACE, shouldn’t face many issues setting medium to high prices in Bahrain. But for the large number of expat s in Bahrain ACE has to adapt itself due to the target market it has set for itself when setting prices. Expats are genuinely not price sensitive when it comes to purchasing from known global brands as they find it easier to trust brands they are familiar with. The most important factor however is comparison of process with its main competitor in Bahrain which is Manazel; this company has built its reputation in Bahrain as one of the best Hardware stores and offers discounts and promotional vouchers to loyal customers (Manazel, 2012) which will mean stiff competition for prices for ACE. However, due to lack of information on actual goods prices for Manazel, ACE can do further research and sets it prices on information found. 6. Distribution and logistics Ace products will be available to customers through two sources: Retail sales: as many of its branches worldwide also provide retail shops, similar shops should also be provided in Bahrain in different major cities, to make the products more accessible to customers in more varieties, and as shopping is part of the Bahrainis past time this will be a major attributor to its overall sales. It will also increase overall brand popularity of ACE in Bahrain. Online store catalogue: ACE provides this service for many of its branches in different countries worldwide, but as internet commerce is not popular in Bahraini ACE should not expect major traffic on these online websites. Ace currently has distribution centers located in various parts of the world to enable more efficiency for their global stores at different pin-points. This way transport costs can be cut as well as time on delivering inventory. The closest distribution center to Bahrain is currently in UAE being operated by the Al Futtaim group. Ace can extend their current agreement with Al Futtaim for them to deliver across to Bahrain and take care of their inventory as well as the UAE. 6. 4 Promotion and Advertising Promotion ACE’s competitor in Bahrain Manazel offers various promotional vouchers and discounts to its customers, should be a model ACE will focus on that will help it gain more popularity with customers. Coupons, discount vouchers, loyalty cards should all be included as promotional tools by ACE and all promotional activity should reflect the goal ACE wants to be perceived as which is ‘the helpful store†. Advertising The most important part of marketing for any product is advertising, there are several tools ACE could you to get its name out in Bahrain which include, word of mouth, billboards on (major signs, buses etc. ) radio adverts, Television and much more. Due to culture and market similarities with the UAE ACE could use existing ads in Bahrain to cut costs in advertising research. 6. 5 Estimated sales/sales mix A sales mix is the specific sales of each product offered by a company in comparison to total product sales. Businesses commonly track this information to figure out exactly how much profit they make or can make when marketing a range of items or services. The sales mix of products will often impact an organization’s bottom line. 6. 6 Production/service strategies Production or operations strategy refers to the pattern of decisions or course of action that the organization takes to produce goods and services. The production strategy shows the direction the production or operations function of an enterprise should take. It has important consequences for the way production resources are selected, deployed and managed (Sarkissian. 2012). 7. Financial Planning â€Å"Financial planning is the process of meeting your life dreams/goals through the proper management of your finance† (Beniwal, 2010). This allows the usage of several financial tools such as Profit and Loss Statements, Cash Flow Projection and Financial Analysis to basically achieve financial objectives. 7. 1 Profit and Loss Statement Below is the Condensed Consolidated Statements of Income (Unaudited) for the three and nine months ended September 29, 2012 and October 1, 2011. ACE HARDWARE CORPORATION| | | | | | | | CONDENSED CONSOLIDATED STATEMENTS OF INCOME| | | | | | | (Unaudited, in millions)| | | | | | | | | | Three Months Ended| | | Nine Months Ended| | | September 29,| | October 1,| | September 29,| | October 1,| | | | 2012| | | 2011| | | 2012| | | 2011| | | (13 Weeks)| | (13 Weeks)| | (39 Weeks)| | (39 Weeks)| | Revenues| $| 949. 9| $| 912. 0| $| 2,929. 0| $| 2,787. 5| | | | | | | | | | | | Cost of revenues| | 826. 1| | | 797. 6| | | 2,564. 3| | | 2,449. 3| | | | | | | | | | | | | | | Gross profit| | 123. 8| | | 114. 4| | | 364. 7| | | 338. 2| | Distribution operations expenses| | 25. 1| | | 26. 2| | | 74. 4| | | 70. 7| | | | | | | | | | | | | | | Selling, general and administrative expenses| | 35. | | | 36. 2| | | 104. 5| | | 104. 3| | | | | | | | | | | | | | | Retail success and developme nt expenses| | 26. 2| | | 27. 6| | | 91. 5| | | 84. 1| | | | | | | | | | | | | | | Total operating expenses| | 86. 8| | | 90. 0| | | 270. 4| | | 259. 1| | Operating income| | 37. 0| | | 24. 4| | | 94. 3| | | 79. 1| | | | | | | | | | | | | | | Interest expense| | (4. 2)| | | (8. 9)| | | (20. 2)| | | (27. 8)| | | | | | | | | | | | | | | Loss on early extinguishment of debt| | -| | | -| | | (19. 9)| | | -| | | | | | | | | | | | | | | Interest income| | 1. 0| | | 1. 5| | | 2. | | | 3. 8| | | | | | | | | | | | | | | Other income, net| | 1. 7| | | 1. 5| | | 5. 0| | | 6. 1| | | | | | | | | | | | | | | Income tax expense| | (0. 9)| | | (1. 4)| | | (2. 4)| | | (2. 4)| | | | | | | | | | | | | | | Net income| | 34. 6| | | 17. 1| | | 59. 7| | | 58. 8| | Less: net income attributable to non-controlling interests| | 0. 3| | | 0. 1| | | 0. 3| | | 0. 3| | | | | | | | | | | | | | | Net income attributable to Ace Hardware Corporation| $| 34. 3| | $| 17. 0| | $| 59. 4| | $| 58. 5| | Accrued patronage distributions| $| 33. 3| | $| 15. 2| | $| 57. 0| $| 53. | | See accompanying notes to the condensed consolidated financial statements. | | | | | Ray AGriffith, GuziK, William M & Gast, Erik D. , 2012). | | | | | | | | | | | | | ACE HARDWARE CORPORATION| | | | | | CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS| | | | (Unaudited, in millions)| | | | | | | | Nine Months Ended| | September 29,| | | October 1,| | | 2012| | | 2011| | | (39 Weeks)| | | (39 Weeks)| Operating Activities| | | | | | Net income| $| 59. 7| $| 58. 8| Adjustments to reconcile net income to net cash provided by operating activities:| | | | | | Depreciation and amortization| | 30. | | | 29. 0| Amortization of deferred gain on sale leaseback| | (0. 9)| | | (0. 9)| Amortization of deferred financing costs| | 1. 6| | | 2. 2| Gain on disposal of assets, net| | -| | | (2. 0)| Provision for doubtful accounts| | 2. 8| | | 3. 2| Loss on early extinguishment of debt| | 19. 9| | | -| Other, net| | 0. 2| | | -| Changes in operating assets and liabilities:| | | | | | Receivables| | (43. 2)| | | (39. 0)| Inventories| | (28. 9)| | | (68. 9)| Other current assets| | (2. 6)| | | 2. 7| Other long-term assets| | (7. 0)| | | (8. 0)| Accounts payable and accrued expenses| | 32. 6| | | 72. | Other long-term liabilities| | 6. 0| | | 2. 2| Deferred taxes| | 1. 1| | | 5. 0| Net cash provided by operating activities| | 71. 3| | | 56. 6| Investing Activities| | | | | | Purchases of marketable securities| | (9. 0)| | | (46. 1)| Proceeds from sale of marketable securities| | 8. 6| | | 46. 3| Purchases of property and equipment| | (31. 2)| | | (19. 5)| Decrease in notes receivable, net| | 1. 6| | | 1. 4| Other| | 0. 1| | | 0. 1| Net cash used in investing activities| | (29. 9)| | | (17. 8)| Financing Activities| | | | | | Net borrowings under revolving line of credit| | 113. 0| | | 9. | Proceeds from issuance of long-term debt| | 200. 0| | | -| Redemption of senior notes| | (301. 3)| | | -| Principal payments on long -term debt| | (7. 5)| | | (4. 0)| Payments of deferred financing costs| | (5. 2)| | | -| Payments of cash portion of patronage distribution| | (27. 7)| | | (26. 4)| Cash Flow Projection Condensed Consolidated Statements of Cash Flows (Unaudited) for the nine months ended September 29, 2012 and October 1, 2011 Payments of patronage refund certificates| | (17. 3)| | | (17. 3)| Proceeds from sale of noncontrolling interests| | 0. 3| | | 8. 8| Other| | 0. 6| | | 0. | Net cash used in financing activities| | (45. 1)| | | (29. 2)| (Decrease) increase in cash and cash equivalents| | (3. 7)| | | 9. 6| Cash and cash equivalents at beginning of period| | 15. 8| | | 9. 3| Cash and cash equivalents at end of period| $| 12. 1| $| 18. 9| Supplemental disclosure of cash flow information:| | | | | | Interest paid| $| 21. 3| | $| 20. 1| Income taxes paid| $| 0. 9| $| 0. 5| See accompanying notes to the condensed consolidated financial statements. | | | | 6| | | | | | (Ray A Griffith, GuziK, William M & Gast, Erik D. , 2012 8. 0 Management considerations ACE will undertake a big change in bringing ACE hardware to Bahrain, Bahrain overall will be a good prospect as the company has penetrated a similar market in the Middle East (i. e. United Arab Emirates) and with a very stable economy and freedom of business with no government interruptions it will be a relatively easy venture for an established brand such as ACE. However the management at ACE has to consider several factors that will make the venture a more smooth transition, such as trying a joint venture with a local business, culture considerations so as not to put out unethical products. 8. Personnel/sales force factors A sharp forecast of more and employees getting into the professional field in Bahrain, and the stiff rise in population over recent years and also the preferences giving to the locals in hiring, ACE hardware has to take into considerations means and processes of hiring its employees, personnel training and qualification has to be of the highest standard and profe ssional communication skills has to be a criteria in hiring employees 8. 2 Business Advisors: With the help of a business advisor Ace could more effectively implement their strategy to break into the market in Bahrain. An effective business advisor would ensure a smoother transition by assisting ace in dealing with the laws and regulations entering the market and guiding them through government policies. Due to Aces existing established stores already present in the UAE the corporation already has knowledge on the different structures of setting up business in the Middle East. Business advisors in Bahrain would help them in ways more specific to the Bahrain market and can also help them with most effective Methods of Marketing in the country and the most effective locations to set up stores. 9. Recommendations/Conclusion Ace should undertake an aggressive marketing campaign upon entering the market in order to create brand awareness using ‘Coming soon† promotions to build up the hype of the store. Ace should engage with local business advisors in Bahrain to help guide them with cultural differences and deal with government legislations and regulations. Ace should undertake further Exten sive research to gain a better understanding on aspects of the Bahrain hardware market and to know their potential competitors and their offerings more in order to price, promote and operate more effectively.