Conrail Case

Conrail G455: Corporate Restructuring Team 7 1) Why does CSX want to buy Conrail? In an industry beset by limited options to consolidate domestic rail traffic, CSX looked at Conrail as an avenue to increase market share and gain access to the North East rail network. With air travel, road travel and trucking taking an increasing share, significant revenue growth became difficult. As Conrail became profitable, Congress explored ways of privatizing it, giving CSX an opportunity to acquire Conrail.Though Conrail suffered from performance inefficiencies it had certain strengths relative to CSX and Norfolk with respect to highest revenue per mile of track operated, per carload originated etc. Conrail with operating revenue of $3,686 million and 29. 4% of Eastern rail freight traffic was attractive enough for CSX to consider the merger. The joint entity would have $8. 5b in rail revenue and would control the Eastern market with a market share of 70%.CSX estimated the acquisition to also cr eate synergies resulting in consolidation of overlapping operations and not only increase the joint entity’s revenue through service improvements, but also the operating incomes through economies of scale. Cost synergies was expected to help in increasing the annual operating income by $370m and revenue increases was expected to help increase annual operating income by $180m. (Based on valuation of synergies, taking PV of terminal value, we estimate the gains in Operating Income to be equal to $3,047. 13. CSX expected the acquisition to improve the joint entity’s competitive position vis-a-vis Norfolk Southern as the joint entity’s rail networks would facilitate long-haul, contiguous and therefore low cost service. As Norfolk Southern lacked access to Northeast market it would be less able to provide long-haul routes from South or Mideast. The purchase of Conrail would thus provide CSX with control of the Eastern rail network. From a financial perspective, the p rojected revenue gains and cost savings was expected to make the joint entity become more efficient than Norfolk Southern.Likelihood of a rival (Norfolk Southern) acquiring Conrail, resulting in competitive disadvantage for Conrail was also a factor. 2) Based on multiples and a premiums paid approach, how much should CSX be willing to pay for Conrail? We took Sales, EBITDA, Book Value Multiples and Four week acquisition Premiums from Exhibit 6. We use number of Conrail’s shares outstanding as 90. 5 million at the share price of $32. 46 from the same Exhibit 6. Conrail's Value Sales EBITDA Book Value Premium % $3,722 $1,017 $32 $6,516 Multiples High Low 3. 6 1. 7 13. 1 8. 5. 5 1. 7 73. 0% 34. 0% Conrail Market Price Low Average $ 1,032 $ 3,712 $ 3,350 $ 5,465 $ (301) $ 5,398 $ 8,731 $ 9,986 High $ $ $ $ 8,104 8,028 10,862 11,273 See ‘Calculations’ spreadsheet for details. As the Conrail is fairly attractive resource for CSX it should be willing to pay on the high side of the Conrail Market Price. We have highlighted the High Price in the above table. We 2 have also calculated the price by various methods (sales ratio, EBITA, etc). The price calculated by these methods is reasonably close to the bid price of CSX.Within the high price too, there seems to quite a difference in valuations. The multiple analysis methodology assumes that all companies within an industry have similar characteristics. As expected there is wide variance is between low, high and average. Within the rail industry there is wide variance in capital structures, profitability etc, which is reflected in Conrail Market Price. Other than multiple and premium methods, CSX should be detailed financial analysis based on synergies etc. to come up with the price. The synergies given in the case are stated as â€Å"Gains in Operating Income. This is not an unambiguous term. For purposes of this and subsequent questions, assume that these synergies are net of costs (COGS and Capita l Expenditures) and the after-tax payment to bondholders. The term operating income is likened to net income or the taxable income to stockholders. Further assume that none of these acquisitions will affect the acquirer’s equity cost of capital. 3) Based on the data in Exhibit 7 and the definition of operating income gains given above, how much should CSX be willing to pay for Conrail? Support your answer with appropriate analysis.According to operating income gains we can value a firm’s market price as its pre-merger value and the present value of gains in operating income. Let’s assume that value of Conrail before the merger is equal to its market cap. Then taking Conrail share price as $71. 94 (average of year end and high stock price) and number of shares outstanding as 90. 5 million shares (Exhibit 6) we get Conrail market value equal to $6,510. 57 million ($71. 94 x 90. 5 million). We assume G =3%, MRP = 7%. We take risk free as 30-year maturity US Bonds r ate, which is 6. 3% (Exhibit 8); merged CSX-Conrail equity beta as average of CSX and Conrail equity betas, which is 1. 33. rE = rf + MRP ? E = 6. 83% + 7% x 1. 33 = 16. 11% Now we can find Conrail’s synergy value as present value of gains in operating income. 1997 Total Gain in Operating Income Total Gain in OI after 40% Tax Gain in OI (discounted @ rE) $ $ $ 1998 $ 88 $ 12. 80 $ 7. 15 $ $ $ 1999 396 237. 60 176. 26 $ $ $ 2000 550 330. 00 210. 84 2001 $ 567 $ 340. 20 $ 187. 21 Value of estimated gains = $671. 46 Terminal value = $2,673. 83 Present value of Terminal Value = $2,365. 67 Conrail’s Synergy Value is equal to $3,047. 13.See ‘Calculations’ spreadsheet for details. The maximum price, which CSX should be willing to pay for Conrail is $6,510. 57 + $3,047. 13 = $9,557. 70 3 The optimal price of the merger is somewhere in between of $6. 5 and $9. 5 billion. We’d advise a price closer to Conrail’s market value rather than the average of t hese two figures. In this case both Conrail and CSX shareholders win from the merger. If they take price closer to the high CSX shareholders can lose due to over estimated synergy gains. 4) Analyze the structure of CSX’s offer for Conrail. CSX offered a two-phased deal for Conrail worth $8. 3 billion at the nnouncement. CSX would purchase 90. 5 million (100%) of Conrail shares to complete the deal. In the first phase, CSX originally offered $92. 50/share for 40% of Conrail’s shares. This front-end offer would be completed in two stages for regulatory reasons, purchasing 19. 7% in stage one and the other 20. 3% once approved by the shareholders. Once all of phase one was completed, CSX would purchase the remaining 60% of Conrail’s shares by exchanging shares in a ration of 1. 85619:1. 0 (CSX: Conrail), yielding shareholders roughly $89. 07/share (blended value) based on recent Conrail and CSX stock performance.In addition, the merger agreement contained provision s related to break-up fees, lock-up options, poison pills, and â€Å"no talk† clauses. These provisions provided some level of protection against advances from NorfolkSouthern or other competitors looking to purchase Conrail. Notably, the no-talk clause required Conrail to abstain from any conversations related to buy-out with other firms; though this could be disputed where the board’s fiduciary duty to protect investors superseded said restrictions. 5) Why did CSX make a two-tiered offer? What effect does this structure have on the transaction?Pennsylvania’s fair value statute required all bidders holding 20% or more of stock to offer the same price to all shareholders unless target shareholders agreed to explicitly nullify this position. Also the same statute limited any shareholders (with a 20% or larger stake) voting rights unless management approved it. Finally, the law required management to consider and protect the interests of employees and the communit y. This two-tiered structure affected the timing and the cost of the deal. As a result of the deal’s structure, Norfolk Southern had two opportunities to block with a hostile takeover driving up the price of the acquisition.By close of business prior to the shareholder votes to opt-out of the fair value statute, CSX’s bid was up to $110/share, resulting in an offer that was $321,500,000 more than originally planned for the remaining 20. 3% in phase I. The structure of the deal also allowed CSX to pay for 40% of Conrail in cash (in two phases) while paying for the remaining 60% of the target with CSX stock. This meant that changes to CSX or Conrail’s stock price prior to the transaction completing could impact the cost of the entire deal 6) Why did Norfolk Southern make a hostile bid for Conrail? Conrail is considered a â€Å"scarce jewel†.Conrail was the sole class I railroad serving the Northeast market of the United States with control of 29. 2% of the rail freight market east of the Mississippi river. Although Conrail was inefficient and not very profitable, its revenue per mile of track operated, per carload originated, and per ton originated were the highest in the industry. If the merger between CXS and Conrail succeeded, Norfolk Southern would be negatively impacted with estimates of up to $320 million by 2001. This is clearly a battle Norfolk can not afford to lose as it may impact its very existence in the long run. 7) How much is Conrail worth? In a bidding war, who should be willing to pay more, Norfolk Southern or CSX? Again, note the previous definition of operating income when interpreting the data in Exhibits 6a and 6b. We use the same logic of gains valuation as we did it in question #3. Assumptions for CSX-Conrail Merger: We assume the same G =3%, MRP = 7%. We take risk free as 30-year maturity US Bonds rate, which is 6. 83% (Exhibit 8); merged CSX-Conrail equity beta as average of CSX and Conrail equity betas, whic h is 1. 33. rE = rf + MRP ? E = 6. 83% + 7% x 1. 33 = 16. 1% Now we can find CSX-Conrail synergy value as present value of gains in operating income. 1998 240 144. 00 (66) 210. 00 1999 521 312. 60 (123) 435. 60 323. 14 $1,260. 76 $5,086. 73 $4,655. 08 $5,915. 84 $12,426. 41 2000 $ 1,811 $ 1,086. 60 $ (189) $ 1,275. 60 $ 400. 60 2001 $ 752 $ 451. 20 $ (196) $ 647. 20 $ 356. 15 Total Gain in Operating Income Total Gain in OI after Tax (40%) CSX Total Loss in OI CSX Total gain in OI from merger Total Gain in OI (discounted @ rE) Value of estimated gains in OI Terminal Value of estimated gains in OI PV of TV Total value of gains in OI for CSX Value of Merger for CSX $ $ $ $ $ $ $ $ $ 180. 87 Assumptions for Norfolk Southern–Conrail Merger: We assume the same G =3%, MRP = 7%. We take risk free as 30-year maturity US Bonds rate, which is 6. 83% (Exhibit 8); merged Norfolk Southern–Conrail equity beta as average of Norfolk Southern and Conrail equity betas, which is 1. 23. rE = rf + MRP ? E = 6. 83% + 7% x 1. 23 = 15. 41% Now we can find Norfolk Southern–Conrail synergy value as present value of gains in operating income. 1998 $ 231 $ 139 $ (130) $ 269 $ 233 1999 $ 429 $ 257 $ (232) $ 489 $ 367 $1,468. 67 $6,044. 6 $5,531. 72 $7,000. 39 $13,510. 96 2000 $ 660 $ 396 $ (308) $ 704 $ 458 2001 $ 680 $ 408 $ (320) $ 728 $ 410 Total Gain in Operating Income Total Gain in OI after Tax (40%) Norfolk Southern Total Loss in OI Norfolk Southern Total gain in OI from merger Total Gain in OI (discounted @ rE) Value of estimated gains in OI Terminal Value of estimated gains in OI PV of TV Total value of gains in OI for CSX = Value of Merger for CSX 5 From the calculation above we see that value of Conrail acquisition is much, over 1 billion higher for Norfolk Southern than for CSX.Moreover, the loss in acquiring Conrail leads to significant loss in revenues and market share for both of bidders but more for Norfolk Southern. Not surprisingly that they have seri ous intention to wage a bidding war. 8) As a shareholder, would you vote to opt-out of the Pennsylvania anti-takeover statute? In the case of conrail as a shareholder, we would not vote to opt-out of the Pennsylvania antitakeover statute. The PA statute provides Conrail shareholders with a fair value statute provision on their stock ownership.Specifically, bidders holding 20 percent or more of a company’s stock are required to offer all shareholders the same price unless the target shareholders opt-out of the statute. The CSX two-staged offer had a blended value which clearly demonstrates that Conrail shareholders would have been given different pricing for each stage in the offer. The poison pill provision under the CSX and Conrail merger agreement does not give Conrail shareholders the rights to buy discounted shares since the merger agreement required Conrail to suspend its poison pill.Therefore, the poison pill favors the acquirer and not the Conrail shareholders. Finally , as a shareholder, the best strategic position is to allow the bidding war to commence and observe how CSX and Norfolk Southern compete against one another for the Conrail business. It is obvious that there will be an acquisition and it is obvious based on both acquisition proposals, that each company will issue multiple offers in an effort to acquire Conrail due to its strategic location in the Northeast United States. In general, however this statute could be disadvantageous to shareholders in certain cases.The statute tries to protect the interests of employees and community where the target company was located in addition to meeting their fiduciary duty to the shareholders. The statute frees companies from any obligation to sell itself to the highest bidder. Conrail used the statute to blunt Norfolk’s offer though it was better for shareholders. The ‘fair value statute’ aspect helped the shareholders of Conrail (as parties in support of merger still needed 1 4. 6% of acquisition shares to vote in favor of opting out. ) 6

Learning Team A Reflection Essay

Throughout this course, we established a foundation in understanding Business Information Systems. This week’s objectives were to describe how wireless technologies are used in the workplace and how to use spreadsheets in business situations. While some members of Team A were well versed in Microsoft tools, others had their first lesson on Microsoft’s Excel and Access fundamentals. Team A’s members range from a project manager who attained their Associate Degree in Computer Programming, a logistics specialists for Amazon.com, a employee in the Hilton Hotel industry, and a wine educator working in hospitality—all very different fields with varying levels of information systems background. While for some it was a review, Team A can all agree that each and every one of us gained a better understanding on how and why information systems accomplish business objectives. Cheryl knew the degree in which wireless technologies kept users plugged into the World Wide Web. She was aware that smartphones and their many accessories allowed users to access their emails, schedules, mobile banking and participate in e-commerce as well as make online payments—she learned that M-commerce another growing trend. Due to telemedicine, modern technology has allowed the medical world to provide assistance via videoconferencing. In addition, she learned that setting up and using access points to create meshed networks called a Wide Area Network (WAN) (Rainer & Cegielski, 2011). Xavier learned the relevance of wireless technology in everyday life. More specifically, he learned of the different functions of varying satellite types to communicate information. Kelly learned about the two basic operations of data mining. According to Rainer and Cegielski (2011), data mining functions in  Ã¢â‚¬Å"predicting trends and behaviors and identifying previously unknown patterns† (chap. 11). Angeliza discovered that Wi-Fi was abbreviated for Wireless Fidelity as well as the synchronization of using Microsoft Excel with Access. With the objectives of Week 3 in mind, Team A members have found varying ways in which we can apply what we have learned in the classroom into our professional or personal lives. As a project manager, Cheryl can utilize Excel to track cost of goods (COGS) inventory. As a logistic specialist, Xavier can use spreadsheets in generating employee lists and creating reports to reflect the volume of freight used on a daily basis. As a team member in hospitality, Kelly can use data mining to track hotel guests’ sign up and preferences. In customer service, Angeliza can use the point of sale system to analyze the day’s sales and returns (Rainer & Cegielski, 2011). The learning activities and readings have left each member of Team A with a little more knowledge than we had previously. Cheryl knows that Microsoft Excel and Access are a perfect duo: Excel creates the tables that can be exported to Access where the data is analyzed. Xavier learned how to more effectively incorporate spreadsheet into his daily work routine. Kelly understands the role of wireless information systems in the creation of invoices for clients and making it easier to calculate daily cash sales. Angeliza learned that she doesn’t need to be an IT specialist to analyze data from Excel with Access. Despite our different backgrounds, Team A members can agree that we all gained a better understanding on how Information Systems plays into effectively and more efficiently completely business goals. Week 3’s lesson on spreadsheets and wireless technologies makes us more proficient in the language of information systems in the workplace and in our daily lives. Reference Rainer, R. K., & Cegielski, C. G. (2011). Introduction to Information Systems (3rd ed.). Retrieved from The University of Phoenix eBook Collection database

Balance of a Busy Life Essay

The average American has a million things on their plate. Many of them are full time student, parents and hold a job. From personal experience I can tell you that balancing school, a job and my personal life is no walk in the park. With all the things that are going on in your life, being organized, making a flexible schedule and communicating with your boss, teachers and family members, help you balance all three and still have time for yourself. The first step in balancing school, work and a busy life is making a schedule. When deciding to juggle a busy life you have to be prepared to have school assignments, run errands, and to be called off schedule at work. First creating a plan that can be used all times will help you keep these things in place. Second in the beginning of the week set a timetable for work, studying and family time. By doing this you will have a clear mind set of how your time should be spent. You’re not going to successfully juggle work with your other priorities unless you exercise a little discipline. This doesn’t have to be as painful and no fun as it sounds. Before you take on a new job, sit down and write down all of your priorities, followed by about how much time they take up each week. Estimate on the high end. Then decipher how much time you require to chill out with your BFF, tweet your heart out, etc. Now crunch the numbers and visually perceive how much time you’ll have to work. Even if it’s only enough for a shift or two a week of work, that’s fine. That is of course, unless you require working a certain amount each month to pay for rent and other cost-of-living expenses, in which case you might be obliged to skimp on socializing time. Once you have your schedule sorted out, it’s important to stick to the rules. If you decided the only way to make it all work is to devote one weekend night each week to doing school work, utilize this time efficiently and don’t get distracted by a â€Å"16 and Pregnant† marathon. By developing these time management skills now, you’ll be ready down the road when life throws even more responsibilities your way. The next step to balancing school, work and a busy life is to be organized. When having a lot on your plate it is very crucial to keeping a calendar to mark upcoming tests, deadlines and meetings can be helpful. First writing down all your assignment and their due date can help you keep everything up to date. Second have all your paperwork in separate labels folder can making getting to assignments quick and easy. If you know you have a conference coming up in a fortnight and a paper due in three, you won’t have any exculpation not to acquire that paper finished on time, and you won’t miss any of the exhilaration at your conference. Endeavor utilizing a day planner, or even an online calendar to manage your tasks. Surprises and extemporaneous events virtually always pop up, but if you’re flexible with your time and stay on top of your assignments for work and for school, emergencies won’t disrupt your entire schedule as dramatically. The last step to balancing school, work and a busy life is communication. When you have a busy lifestyle it’s very hard to keep everything in order without communication. First when you are late on, an assignment, contacting your teachers can let them know what is going on and also show them that you are very responsible student. Next letting your boss knows when important school assignment comes up. As a busy person I know how hard it is to keep up. Keeping constant communication with teachers, bosses and family members will help you keep everything in order. Your managers aren’t mind readers. Speak up and let them know that your job is important to you but that you also have school and family as priorities, and they’ll be more liable to be flexible. Particularly if you have a spouse and children, it’s critical that you communicate your schedule so everyone is on the same page. That way, if you have a final exam coming up, you can orchestrate dinner and nighttime responsibilities together accordingly. An online calendar program works well, so you can update it in real time. Likewise, keep an online or handwritten to do list to help you prioritize tasks and stay organized daily. Having a busy schedule isn’t an easy thing to handle. If you are not prepared it can feel like a whole lot or work is being pulled up. Being organized, making a flexible schedule and communicating with your boss, teachers and family members, can help you efficiently keep everything together.

Provide an Ethical Argument against the Use of Dolphins in the US Navy Essay

Provide an Ethical Argument against the Use of Dolphins in the US Navy for Military Purposes - Essay Example Our villages are the most avidly practicing customary and traditional Subsistence users in the United States. The socioeconomic characterization of our region is similar to a Lesser Developed Country (LDC). Before the Magnuson Act, our people stood on the shores of their seasonal food camps and watched international fleets fish off our coasts, destroying species and stocks in their wake and affecting our Subsistence needs. Most prevalent were the Japanese; whose economists dubbed our region, "The Fourth World," to describe the phenomena of third world standard of living conditions within a first world country. Since the early 1970's, and prior to the MIAPA, AVCP subcontracted marine mammal studies and traditional knowledge reports through scientific and technical staff of Nunam. Kitlutsisti (Stewards of the Land). We joined in lobbying the UN and the U.S. and Russian governments to ban high seas driftnet fishing and succeeded. Nunam Kitlutsisti was eventually absorbed into the Department of Natural Resources (DNR) of AVCP. Since then, AVCP has been an actively participating in meetings with the Indigenous Peoples Council on Marine Mammals (IPCoMM), the Eskimo Walrus Commission (EWC), and the Alaska Beluga Whale Committee (ABWC). For decades, AVCP has tried to improve the growing-pains of the assimilation process for Yup'ik Cup'ik immersion into Western economy standards, while maintaining an enduring Native culture. AVCP coordinates regional, social, educational, economic and land / resource management programs. The DNR is extensively involved in programs with the Yukon Delta National Wildlife Refuge (YDNWR), and the Alaska Department of Fish and Game. On shared resource issues we work extensively with other Native regional groups along with the Washington Department of Fish and Wildlife, Oregon Department of Fish and Wildlife, and the California Department of Fish and Game. AVCP has been co-managing programs with YDNWR and the Togiak National Wildlife Refuge in the following programs: Western Alaska Brown Bear Management Area Agreement, Qauilnguut (Kilbuck) Caribou Herd Management Plan, Lower Yukon Moose Management Plan, Yukon-Kuskokwim Delta Goose Management Plan (Waterfowl Conservation Committee), Imarpigmiut Ungungsiit Murilkestfit (IUM) (Watchers of the Sea Mammals), Lower Kuskokwim Moose Management Plan, Kuskokwim River Drainage Fisheries Association, Kwethluk Counting Tower (Salmon spawning monitoring), Lower Kuskokwim Moose Management Area. Imarpigmiut Ungungsht Murilkestiit (IUM) (Watchers of the Sea Mammals) AVCP / IUM currently represents 26 coastal villages and voices concerns regarding marine mammal Subsistence and the health and viability of the Bering Sea. With the development of an Iced Seals Commission under our marine mammal program, we are fully prepared to involve all Iced Seals Subsistence user groups in the State of Alaska. AVCP / IUM intends to develop the scientific, traditional and technical expertise we need to become full partners in cooperative management to the benefit of federal partners and for the conservation and Subsistence use

Brief interpretation and analysis of the advertisement Essay

Brief interpretation and analysis of the advertisement - Essay Example The execution style utilized is the slice of life. There is no direct or straight sell in the advertisement. What it does in a very subtle way is to associate Coke with the optimistic events in the lives of people. Comparison was used in terms of presenting the idea that for every negative thing that the world witnesses, there are more positive things that occur. The background music of the advertisement makes the advertisement more appealing. It gives life to the advertisement. However, since the people viewing the advertisement are busy reading the captions shown, the viewers can no longer appreciate the lyrics of the song. One’s attention becomes divided between the song and the messages being flashed in the advertisement. One thinks that it would have been better if an instrumental music was instead used. A positive point about the advertisement is that it is very relevant to the times. It talks of war, corruption and development of weapons which are signs of the times. One appreciates much the irony presented in the phrases. A negative point though is that the audience might get so absorbed with the deeper message of the advertisement that they might forget about the product being advertised. Another thing that one wants to change in the advertisement is the speed of the flashing of the messages. One is hardly finished yet with reading a message then another one is flashed again. The viewer is not given enough time to grasp the message. The target market for the brand is not very specific. It appeals to all ages, gender and nationalities. This same target market is being addressed to in the advertisement. The company chose this particular medium for the advertisement because it feels that it will be able to capture a larger market because of the universal theme that it presented. In this way, it is more cost effective for

Television Essay Example | Topics and Well Written Essays - 1750 words

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Occupation Wall Street Essay Example | Topics and Well Written Essays - 750 words

Occupation Wall Street - Essay Example Occupy Wall Street took place in New York City, Wall Street. Wall Street is a financial district. The Possibility of the Group Being Classified as a Terrorist Organization, According To F.B.I.’s Definition By all means, there is no way OWS can be classified as a terrorist organization. The Federal Bureau of Investigations (FBI) defines a terrorist organization as an outfit that engages in the unlawful use of violence and force against people or property with the intention of coercing or intimidating a government, civilians or any part of these two, as a way of furthering political or social aims (Spiller, 2006). First, as already stated, OWS does not meet the definition of an organization, since it has no hierarchical structure that governs intra-organizational relations. All the deliberations on the specifics of the protests were being made via Facebook and Twitter, but not from clandestine centers. On the contrary, terrorist organizations such as al-Qaeda have a clear chain of command and bases to operate from. Secondly, it is worth noting that OWS did not employ the use of violence as a way achieving its ends. Instead, it used peaceful protests as a way of addressing its concerns. While terrorism through violence has left many maimed, dead, pauperized and emotionally devastated, OWS did not antagonize anyone.

Corporate Finance Stratergy Assignment Example | Topics and Well Written Essays - 1750 words

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Qualitative Dissertation Study Analysis LOCATE ANY QUALITATIVE Essay

Qualitative Dissertation Study Analysis LOCATE ANY QUALITATIVE DISSERTATION AND SUBMIT WITH ASSIGNMENT - Essay Example Twelve female season-ticket holders of university men’s basketball, with no recent attendance at a women’s basketball game, were interviewed using a semi-structured format† (Farrell, 2006, p. 1). The logic behind this selection of interview subjects was simple. If Farrell had analyzed women who do not like sports to determine why they do not watch women’s sports, it would have led to too obvious a conclusion: Women just do not like sports, women or men’s. However, it does seem possible that women who like sports like men’s sports, that there may be something about men’s sports in particular that would attract them in particular, such that talking to either fans of women’s sports or women who watch neither would be relevant as a control. Nonetheless, this choice of interview subject is designed to find people who not only like sports but also like them enough to buy a season-ticket pass to college games. Farrell (2006) pointed to research that identifies four different categories of research interest: characteristics of language, discovery of regularities, discerning meaning, and reflection. She also pointed out that qualitative and quantitative techniques are not strict binaries. For example, one quantitative technique, numerical and statistical analysis, is done on a fundamentally qualitative tool, a survey, by having people rank their beliefs from 1 to 7 or on any other scale. Farrell defined qualitative research, in line with Golafshani (2003), as â€Å"a naturalistic approach that seeks to understand phenomena in context-specific settings, such as a real world setting where the researcher does not attempt to manipulate the phenomenon of interest† (p. 61). Theoretical Background Farrell (2006) used social constructivism and critical theory for her interpretation, noting that many other approaches (positivism, pragmatism, interpretivism, postmodern techniques) are also equally viable. She defined s ocial constructivism thusly: â€Å"Social constructivism asserts that humans construct knowledge using collective social instruments such as language and cultural practices† (p. 62). A social constructivist argument would take it as a given that the category of â€Å"women† is not fixed, so there is no answer for â€Å"Why don’t women like women’s sports?† that has the form â€Å"Because that is what women do† or â€Å"Women are genetically programmed only to like male gladiatorial rituals†. If women do not like women’s sports, it must be a social factor: acculturation, values, the failure of women’s sports to appeal to their values or interests, etc. Farrell (2006) justified her use of critical theory thusly: The study of women in sport is, in essence, a study of gender struggles against male hegemonic values embedded in the construction of sport as a male preserve. Critical theory lends itself well to a more deliberate investigation of the power structures of sport in this study (p. 63). Indeed, critical theory’

Team Cognition Development and Evolution Assignment

Team Cognition Development and Evolution - Assignment Example Besides, owing to the numerous emerging and current casinos offering similar services, team building would aid significantly in creating a competitive advantage. This compelled the management to implement teamwork within all the departments of the casino, from the top management to the lowest ranks of housekeeping. In this endeavor of team building, the management improved on creating team contracts. They also implemented clear team objectives and significantly mulled over improving communication from the top management to the employees. In their survey, Karli, James, and Scout considered the ownership of shared goals within a team (Karli, James & Scout, 2013). Individuals seemed to take up the team goals and endeavored to accomplish these objectives. The authors also eliminated various inhibitors in the teams’ ability to achieve the set objectives. The implementation of the team within the casino was significant in increasing efficiency within the team, thereby making the casino increase its revenue significantly. In my perspective, the authors’ intention to assess teamwork and revenue boost was a success, owing to the appropriate survey models and selection of a case that considers the objectives of the study. In another article, He, Brian and William, all Professors in the field of business, critically highlight the essence of team building in achieving diversity goals within an organization, as opposed single individuals. These individuals teamed up in writing the article, â€Å"Team Cognition: Development and Evolution in Software Project Teams.† The authors cite that team building is critical in overcoming time challenges and resource coordination. Additionally, owing to the characteristics of diverse software development projects being unstructured and sophisticated, it is significant to implement teamwork within such endeavors (He, Brian and William, 2010).

Business Ethics Essay Example for Free

Business Ethics Essay H.B Fuller and the Street Children of Central America (Summary) The Resistol were produced by H.B Fuller company, a global manufacture of adhesives, sealants, and other specialty chemicals, and had operations in over 40 countries in North America, Europe, Asia and Latin America. H.B Fuller was a very profitable company. Honduras and Guatemala are two countries where fuller markets it glue products and the two countries where Resistol abuse is most pronounced. More than a third of people in Honduras and Guatemala were below poverty, and this economic condition directly affected to Family Life situation, commonly unstable, stressful conditions, husbands abandoned their wives and children. The countless children ran away from home life and roamed the city street, street children uses glue (H.B Fuller) by sniffing them (glue addicted) as the way to get-away from their real life condition. The misuse one of the adhesives, Resistol, a toluene base glue, by the street children of America, where the social economic was taking part of this situation. For years H.B Fuller had been pressure by child advocate groups in Central America and the United States, and encouraged the company to minute amounts of mustard seed-oil a common food additive, reported virtually eliminated abuse of its glue. In March 1989 legislature of Honduras passed decree 36-89 which banned importing or manufacturing solvent based adhesives that did not contain mustard oil. This situation surely disadvantages for H.B Fuller company business environment , H.B. Fuller subsidiary began lobbied the government to have the law revoked, brought some data and showed by adding the mustard seed oil caused; reduce the glue effectiveness, the smell would irritating to legitimate user, the substance was potentially carciogenic. H.B Fuller also took several actions related to help to prevent glue addiction for street children, in order to reduce the availability of glue to children they discontinued selling the glue in small jar, paying the social workers to work with street children and began providing information to distributors warning of the dangers of Resistol addiction. The actions keep continued on July 16th, 1992, the company stop selling the glue to retailer and only sold the glue to industrial customer in large tubs and barrels and cooperate with distributors to set up new control restricting distributions in retailer, on 1994, the company decided to change the toluene based into cyclohexane and increased the price up to 30% it further out of reach of children, of these moves, the company said, that this would discourage use of this glues among street children. In 1995, company issued a statement claiming that in reality it, neither manufactured nor sold Resistol, instead the company, asser ted it was a subsidiary of a subsidiary of the company in central America that had actually made and sold Resistol, and claims that the company was responsible the deaths of children are nothing More than attempt to hold fuller liable for acts and omissions of its second-tier Guatemalan subsidiary.

Why IT doesnt matter Essay Example for Free

Why IT doesnt matter Essay 1.Explain the difference between a proprietary technology and an infrastructural technology. a.Proprietary technology is confidential information that is taken and used to gain a competitive advantage. Small businesses can own proprietary technologies and can be used to maintain a long term advantage; gaining higher profits than rival companies. Infrastructure technology is computer hardware, software, data, storage technology, and networks providing a portfolio of shared IT resources for the organizations. Infrastructure technology is greatly valued when shared among companies versus kept in seclusion. 2.Name two circumstance where an infrastructural technology provides a distinct competitive advantage. a.One example of the advantage of having infrastructural technology is having a product or service before it is invented or offered by someone else. A second example would be companies offering a unique corporate culture and offering extensive benefits or perks to keep employees motivated. In turn this will increase not only productivity but also will allow their employees to maintain motivated and achieve satisfaction. 3.Why is the competitive advantage of infrastructural technologies relatively short lived? a.The competitive advantage of infrastructural technologies is short lived due to the constant desire to better a product. Companies who come out with the newer or advancement of a particular product will have competitors fighting to come out with the next newer or advanced product and so on. Therefore, innovations only remain new for a certain time frame before another company precedes them. 4.What arguments does the author provide that IT is an infrastructural technology? a.IT is an infrastructural technology due to the extensive advancements that are constantly being produced by multiple companies and businesses. Infrastructural technology is a constantly changing field as IT is constantly being advanced and the use of IT has also been adapted by many organizations and industries as common practice. 5.To what does the author attribute the success of companies who appear to have used technology to their long-tern competitive advantage, such as Walmart and Dell? a.Dell and Walmart waited to make IT advancements until experimental technologies proved beneficial. By waiting to invest in IT, the fore running companies had spent more and in the end resulted in a financial loss due to outdated technology.

Analysis Of Environmental Conditions Marketing Essay

Analysis Of Environmental Conditions Marketing Essay Analysis of environmental conditions is based on the framework put forward by Lynch (2009) that assesses the general degree of turbulence in the environment. This can be done by using the two measures of Changeability and predictability (Lynch, 2009, p80), which can be subdivided into complexity and novelty (changeability), and rate of change and visibility (predictability). Establishing a level of turbulence in the environment allows us to know with how much confidence we can predict the future (Lynch, 2009). In the fourth quarter of 2009 the UK GDP rose by 0.1% (www.statistics.gov.uk, 2010) which means Britain is officially out of recession. While this means recovery is under way, many analysts remain sceptical of the extent of recovery. Andrew Sentance of the Monetary Policy Committee has claimed that pace of recovery would remain uncertain (Sentence in the Telegraph Newspaper, 2010). So, as far as predictability and visibility go, it appears very difficult to predict with confidence the extent to which the UK economy will recover in 2010, with many anticipating a slow process because the economy remains weighed down by a still fragile banking sector and high consumer and government debt levels (Seager, 2010). With regards to Changeability and complexity, there is a general election expected in May this year and there is a strong possibility of a change of Government (www.yougov.co.uk, www.ipsos-mori.com, 2010), which will bring about a change in Government policy towards businesses, for example, the Conservative Party are pledging a cut in corporation tax. (www.conservatives.com, 2010). Adding to the complexity is the recent return to a 17.5% VAT rate that adds more financial pressure to consumers in an already struggling market. The recession may have ended but analysts are not expecting too much change in spending as economic downturn is squeezing spending power and that pressure will continue into 2010 (Mintel, Oct 2009). Given the reasonably turbulent conditions, organisations must change its strategies, and possibly its beliefs if it is to maintain its ability to handle changes in the environment (Thompson, 2005). So strategy cannot be made for years into the future because of the uncertain nature of the environment. Strategy should focus on the upcoming year until the turbulence reduces. 4.2 PEST Analysis PEST Analysis is a focus on the macro environment and which factors will change the external environment in the years to come. Johnson et al (p.54) states The environment is what gives organisations their means of survival. However the environment is also a source of threats. The macro environment is the highest-level layer. This consists of broad environmental factors that impact to a greater or lesser extent on almost all organisations. Therefore a good analysis of the macro environment is critical to success but should also be as general and non-specific as possible, this leads to one of the down falls of PEST that it can be a very useful tool when analysing the macro environment but also its general nature can be its downfall if it becomes little more than a huge list of factors in a shopping list fashion. We have chosen to use a simple PEST analysis but to add Legal to Political and Environmental to Socio-Cultural to make sure we consider all issues of the external environment. Another criticism of PEST is that it is only as good as the group or person conducting it, a criticism that can apply to any model. However when used appropriately this model can give a good indication of the factors that will affect the external environment in the years to come. Its ability to briefly analyse and present the factors that could prove important can be highly significant. The PEST Analysis can be seen in Appendix 1 and summary in Appendix 2 4.3 Porters 5 Forces Analysis of the industry analysis is based on Porters 5 forces model as referenced by many authors. The five elements that can have an impact upon MS are The bargaining power of suppliers The bargaining power of Buyers Threat of potential new entrants Threat of Substitutes Extent of Competitive Rivalry (Lynch, p97, 2009) More detailed information on Porters 5 Forces can be found in Appendix 3 4.4 Strategic Group Analysis Below is the strategic group analysis for Marks and Spencer, detailed information on SGA and how the table was created can be seen in Appendix 4 (Johnson, Scholes and Whittington (2008:76))SGA1.jpg Strategic Group Analysis for Marks and Spencer plc Scope of Activities (Extent of Product Diversity) Resource Commitment (Advertising Effort) Marks and Spencer Next John Lewis (Waitrose) Arcadia Group British Home Stores Tesco Marks and Spencer Tesco Next John Lewis (Waitrose) ASDA Debenhams 4.5 Market Segmentation Market segmentation differs from SGA in the way that is looks to customers as its focus rather than sector competitors. Lynch (2006, p105) states Market segmentation is fundamental to the development of corporate strategy. Careful analysis of segments and their characteristics is therefore important. For example some segments may have more profit potential, have less competition then others and some may be growing faster. Taking the age demographic for example the 18-30 age group is declining, whereas the 31-60 age group is growing rapidly. (ONS.gov.uk) Marks and Spencer have a great deal of competitors when it comes to market segmentation mainly due to the fact that Marks and Spencer covers so many segments, children through to adults, males and females, for example. The only segment Marks and Spencer does not appear cater for is the low income segment as its pricing policy is slightly more than mid range offered by the competitors such as Tesco in food and Next in clothing and home ware. Market segmentation of course has its advantages as it will help you to understand more competitors but importantly like the SGA will also show strategic opportunities or gaps in the market that after careful consideration could be moved into. Unfortunately, again, it is difficult to place a company easily within a segment and as before will only be based on one persons views and therefore cannot be ideal. 5.0 Internal Analysis 5.1 Resource Audit Johnson et al. state that although many companies in the same sector compete in the same environment, one may be a superior performer. It is not their environment that distinguishes between them but their internal strategic capabilities. (Please refer to Appendix 5 for definitions) We know that Marks and Spencer has the strategic capability to perform at the level required to survive and has the threshold resources needed to carry this out as well as the necessary threshold competences to underpin this, companies that were founded in 1880s would not still be in business today without these in place. More interesting are the unique resources and core competencies specific to Marks and Spencer that help them gain and maintain competitive advantage. We know that MS has a wide range of shops and retail units the length of the country but this is not a unique resource as Tesco has more units and more retail space, however unique to MS its presence on the high street in the volume it appears, with food and clothing, more supermarkets are situated on retail parks and out of town, even when they appear in town they are small and do not carry the same stock levels. MS also have 295 stores in 41 different countries. Logistically MS must have excellent systems in place to allow all these stores to be stocked. MSs biggest unique resource perhaps is the brand. When you say Marks and Spencer to people they almost always think of quality. Marks Spencer have been around for over 125 years and no company can survive this long without delivering good quality own branded products that have stood the test of time. 5.2 Value Chain Analysis The value chain describes the categories of activities within and around an organisation, which together create a product or service (Johnson, 2008, p110). The primary activities for Marks and Spencer concern its inbound logistics, operations outbound logistics, marketing and sales and service. MS places great emphasis on the quality of its products, which they believe justify higher prices. The marketing strategy emphasises this with, for example, the your MS (see case study) attempting to give back to the customer and emphasising the quality of the products. They have also begun to promote a price comparison with Waitrose (Thomas, 2009) while keeping an emphasis on quality, with the strap line Price checked against Waitrose Essentials. Quality checked by MS (Thomas, 2009). This method of emphasising quality has given MS its reputation, but it is important to live for the standards it sets itself. MS also adds value through its customer service, with a Mintel report revealing it has the highest customer service rating of any retailer amongst consumers and is continuing to invest in raising service standards (Mintel, 2007). They have also trained some staff to become healthy eating experts (Mintel, 2007) in a bid to improve customer service. It is this sort of commitment that enables MS to be regarded as a high quality retailer. They would be unable to charge higher prices if customer service was poor. For its outbound logistics MS have launched new ways of packaging. Under a program known as plan A in cooperation with Oxfam they plan to become carbon neutral by 2012. This is being done by promising not to send any packaging to landfill and putting labels on packaging so that consumers know how to recycle their goods. (Mintel, 2010). While many retailers have launched ethical policies with regards to packaging MS appear to have gone further than others with its promise to become carbon neutral. This policy is backed up through one of its support activities, technology development, where they sought to introduce new recyclable content into its packaging. Value has also been created through a commitment to sustainable fishing (The Guardian, 2010) making it the first food retailer to make such a commitment. This shows an ethical standpoint on its inbound logistics and procurement policies. Such policies have helped create value within the brand, giving consumers the image that while they may pay a bit more for their products, they will receive high quality, ethically produced goods, which it is hope will bring customers back. 5.3 Key Stakeholders We will now look at key stakeholders using Mendelows Matrix (Ref: majyds.wordpress.com//power-of-stakeholders/) Mendelows power/ interest matrix High Customers Employees Shareholders Power Low Bank Creditors Low High Level of Interest NB: More detailed analysis on how this conclusions were drawn can be found in Appendix 6 6.0 SWOT Analysis of External and Internal Analysis After analysing the internal and external environments we can generate a series of strategic alternatives or choices of strategies to follow in the future. To do this, we must look at the strengths, weaknesses, opportunities and threats. The purpose of this is to build on the strengths of the company, eliminate weaknesses, develop opportunities and counter threats. The SWOT and the reasons why we have chosen the strengths, weaknesses, opportunities and threats that we have can be seen in Appendix 7 and 8 7.0 Strategic Options for Marks and Spencer 7.1 Option One After producing the swot analysis and identifying the areas that need attention and further progression, we need to implement some strategic options using the key elements of the organisations purpose. When looking at the SWOT analysis we can see that amongst MSs strengths, they have the biggest market share in clothing and produce quality products. They also have weaknesses of reliance on their own brand and they are in a weak cash position. These lead us to consider MSs environment based options, in particularly, their market options. Ansoff Matrix Diagram(Mindtools.com) Looking at Ansoffs Matrix (above), one of the strategic options we have chosen to implement is that of Product Development. We believe that although MS currently have the biggest market share in clothing, this needs to be protected and pushed forward. Especially as there is such fierce competition in this sector. With the fact that MS already sell clothing, they will not require new competencies to execute this plan. Fashion retailers like Next, MS and Topshop have been through a long period when they have been able to rely solely on declining prices to drive sales upwards. However, with the falling pound and rising overseas sourcing costs, competing on price is going to become increasingly difficult for them. Customers who still have money to spend are going to be ever more demanding. Retailers will have to identify the needs of their core customer even more closely and make sure that they are met. Improving staff training, motivation and product knowledge, as well as recruitment and retention will be crucial in doing so. (Mintel 02/09) As the statement above says, retailers need to identify the needs of their customers more closely. MSs clothing is well know as a mature fashion range, though recently George Davis, the man behind George at Asda is about to launch a new spring collection with a brand new label. This clothing range is called give and is aimed at aged 30+ women. The entrepreneur is bankrolling give, which targets well-off women with fashion pieces that can be customised to fit perfectly. (The Guardian, 02/10) This is product development in itself as they are bringing in new products to existing markets, but we would suggest that they focus on making the new label one that will attract the younger customer at an affordable price. We would also suggest that they use a well know female celebrity to endorse the new clothing range. Neil Mason, a senior retail analyst at Mintel, believes that introducing a limited collection, like Kate Mosss at Topshop, adds to the appeal. The celebritys status in itself is enough to make these lines work, but theres no doubt that when a retailer limits the supply it generates more interest, a real kudos for the people who manage to get their hands on a coveted item. (independent.co.uk:2007) Younger females look up to and want to be like young, successful female celebrities and are very fashion conscious. MS currently have Twiggy as the face of a brand of clothing, but this would not appeal to the younger audience. This strategy should be implemented as soon as possible to coincide with MSs seasonal clothing ranges. 7.2 Option Two Using Ansoffs matrix, it has also been decided to use market penetration as an option, specifically with regards to food sales. As was found in the SWOT analysis food sales remain comparatively low and with its main competitor (Waitrose) having overtaken MS food in terms of market share, (Finch, The Guardian, 2009). As of July 2009 Waitrose had a share of 4.2% to MS 3.7% (Creevy, 2009). Having identified food sales as a weakness (despite slight growth in the last quarter of 2009 (Mintel, Nov 2009)) it is necessary to formulate a strategic plan to improve this situation. Given the immense competition, struggling UK economy, consumers down trading and the price wars between competitors there are major hurdles to cross to penetrate the market further. However, using the strength of the brand and the added value MS has over other food retailers a plan can be developed. While MS will never compete with the likes of ALDI and LIDL on price it can look at overtaking Waitrose. Mintel suggests Waitrose have leapfrogged Marks Spencer in food sales, helped by its Essential value range (Mintel, 23-07-2009) and as consumers are moving to cheaper supermarkets it is suggested that MS launch a lower cost range to compete with Waitrose. By attracting customers with lower cost alternatives it can use its high level of customer satisfaction to try and keep them. It will be important to also keep an emphasis on quality. The advert referenced in the value chain analysis reflects this, but the campaign needs to be bigger to make all consumers aware of it. There is a perception that MS is much higher priced than its competitors (Finch, 2009), that Sir Stuart Rose has acknowledged so it needs to wow customers with good deals. Also, it could be said that MS has an over reliance on its own brand and shoppers cannot get their favourite brands in MS so have to go to another shop to get them. This possibly results in a loss of custom. If MS can roll out popular household favourites, such as Kelloggs, Heinz etc as well as keeping an extensive range of their own products an increase in food sales and market share should happen. 7.3 Option Three Looking at the further options raised by Ansoff, another strategic option for Marks and Spencers to investigate is that of Diversification. Looking at the SWOT we can see that diversification and acquisitions are both on the SWOT as is a strong brand name, this led us to thinking what could MS do? There are two types of diversification one is related, where new products and markets are developed but within current capabilities and constraints or unrelated where it is beyond the current capabilities. We are going to look at adding new luxury products to new markets concerning both vertical and backward integration. This could be through integration or merger/acquisition of say a car manufacturer or a luxury holiday supplier. The supplier getting to use the Marks and Spencer brand name associated with quality and then MS marketing the products and getting a percentage of the profits made on sales. MS already supply travel money so why not holidays as well. Many companies have to adapt to survive, MS are not different in this respect, companies need to look to increase revenue where they can and this is one way it can be achieved. Business synergy is important and this can be one way to achieve, create new and maintain it. 8.0 Evaluation of Strategic Options Strategic Option Suitability Acceptability Feasibility Total 1 8 5 9 22 2 7 6 7 20 3 7 4 4 15 Detailed Analysis of how this was reached can be found in Appendix 9 8.1 Conclusion Overall, we would therefore recommend option one for implementation. 9.0 Evaluation of Models Some analysis is contained within the text and appendix but any additional analysis is detailed in Appendix 10

The Internet Essay -- Technology Computers Essays

The Internet The Internet and World Wide Web are commonly used words among people today. As a college student especially, the Web and Internet play a huge part of life. What is sometimes tough to realize though is the newness of the Internet and the Web. Because the two have become such a huge part of life, it is shocking to consider that the Internet itself has only been in existence for the past thirty years or so. It is important to understand the history of the Internet and the creation of the Web to better prepare for the future of the two and to ensure that the use of the resources is maximized, focused, and beneficial to all mankind. The History The roots of the internet can be traced to the year 1957. 1957 was a year dedicated to atmospheric research and was the year in which the USSR launched a small orbiting satellite into the Earth’s atmosphere. Shortly after the satellite was launched, the United States created the Advanced Research Projects Agency (ARPA) within the Ministry of Defense. This agency was created to number one, protect the U.S. against the threat of technological advances made by other countries and number two, to ensure the United States was keeping on top of state-of-the-art technology. Initially the focus of ARPA was on space, missiles, and nuclear tests. Several scientists worked within the agency along with several sub-contractors to create the latest technology. Even though computing was not the main priority of the agency, directors of the agency had a vision to create a direct link between the computers of the ARPA headquarters and all of its subcontractors. In 1962, John Licklider, an MIT scientist, was appointed by ARPA to lead a computer research development program.... ...22 October 2004. . Internet2. 22 October 2004. . Kristula, Dave. â€Å"The History of the Internet.† March 1997. 21 October 2004. . Leiner, Barry M. and Vinton G. Cerf. â€Å"A Brief History of the Internet.† Internet Society (ISOC). 22 October 2004. . â€Å"Next generation research networks†. Library and Archives Canada. 3 March 2004. 22 October 2004. < http://www.collectionscanada.ca/pubs/netnotes/notes42.htm>. â€Å"Usage and Population Statistics.† Internet World Stats. 22 October 2004. . Webopedia. 23 October 2004. . World Wide Web Consortium. 22 October 2004. .

THE SOUTH :: essays research papers

THE SOUTH   Ã‚  Ã‚  Ã‚  Ã‚  The south can be defined in many ways depending on the person’s feelings toward it and that of which they have experienced. To me the south has to be the best place to live in all the United States.   Ã‚  Ã‚  Ã‚  Ã‚  One of the things that stick out in my head about my beloved birthplace that will never be forgotten, because they’re held so dear to my heart, are the smiling faces that you see everywhere you look. I’m telling you; people here are so nice that you would be lucky to find someone rude towards you within a week’s period. That can only be best described just as plain ole’ southern hospitality. I mean the dialect of all the southerners is so comforting, it just reassures you that your plenty welcome all the time. The thing that gets me and always makes me appreciate the southerners’ lingo is the great analogies used by them. Seriously, For every situation you can think of there’s got to be about five southern phrases used to describe that very thing.   Ã‚  Ã‚  Ã‚  Ã‚  Another thing that defines the south is its culture. Where else can you find a garage sell at every turn. I mean where else is there a state park that hosts a gathering of country folk to sell all there junk to another southerner who in turn will be right back at that same place with a stand of their own trying to get rid of the dang thing they bought just a few weeks ago. The funny thing is, if you ever decided to take a drive through the south, you would probably mistake some southerner’s land as a yard sell or junkyard for that matter. Most southerners aren’t surprised when they see they’re friends yard covered with old tires, rusty cars, broken chairs, and all of these things just swallowed in 3 foot of grass that hasn’t been cut since little Bo wrecked the tractor used to bush hog the thick stuff. I mean there’s just no telling what you might find in that very grass. All southerners love wearing boots and I can surely see why, because every yard you walk through you’ll soon stub your toe on just about anything from a old toilet to some scrap metal that’s going to be used to put a roof on a shooting house whenever winter blows in.   Ã‚  Ã‚  Ã‚  Ã‚  The atmosphere down here is great also.

Tobacco Companies Targeting Young People :: Free Essay Writer

Tobacco Companies Targeting Young People Thesis: Statistics show us that young people are the main target of the tobacco companies. Outline I. Introduction II. Two main companies III. Tobacco industries claims VI. Other problems V. Stopping them from smoking VI. Conclusion Every day, 3,000 kids start smoking, most of them between the ages of 10 and 18. These kids add up to 90 percent of all new smokers (Roberts 38). These statistics show us that young people are the main targets of the tobacco companies. The cigarette manufacturers will deny it, but advertising and promotion play a very important part in making these statistics a reality. The two main companies in this advertising war are Marlboro and Camel. Marlboro uses a western cowboy called the Marlboro Man, while Camel uses Joe Camel, a hip cartoon character. Everywhere you go there is billboards or some other kind of advertisement on these two shady characters. When I say shady, I imply that these characters are not just figures we see but they are traps just waiting to lure the next victim in. As kids look through magazines and see Joe Camel driving a cool car and surrounded by beautiful women they get the idea that in order to be somebody they need to smoke a Camel cigarette. It is not right to prey on young people just because they are unaware of the dangers of smoking. The tobacco industry denies that these symbols target people less than 21 and claim that their advertising goal is simply to promote brand switching and loyalty. Many people disagree with this statement such as Illinois Rep. Richard Durbin who said "If we can reduce the number of young smokers, the tobacco companies will be in trouble and they know it"(Roberts 38). The problem we are facing is not only with the tobacco companies but with the young people also. The reason why I say this is because most youths know that they are being targeted. If these kids realize that the advertising is manipulating them, why do they still smoke? The ads reflect an image of rebellion and fitting in. These are all the things a young person, between childhood and adolescence, needs and desires. This type of advertising, on top of peer pressure, is the mystery behind the rise in adolescent smoking. How do we stop the future of America from smoking? Here are three things that the experts recommend. Try to convince your children that smoking is not cool. Talk to your kids at a young age about the dangers of smoking. Identify family members who smoke and ask them to stop (Thomas 450).

Analysis of College Students’ Self Esteem and Their Desire to Feel Good About Themselves

Self esteem refers to the amount of realistic respect that you have for yourself. It is important for a person to have a healthy self-esteem in order to lead a happy and successful life. People with low self-esteems often have a harder time leading a happy and successful life. People with a healthy self-esteem realize that they deserve the good things in their lives, while those who suffer from low self-esteem feel that they deserve only the bad things in live. Each person is responsible for their own self-esteem and can take measures to improve their self-esteem, thereby improving their lives.Background of the studyThe relationship between a student’s scholastic performance and achievement and his/her sense of personal worth or self-esteem is likely to be mediated by a number of factors such as personal and familial aspirations, peer accomplishments and teachers and school expectations. Self-esteem can be defined as an individual’s judgment of his or her self-worth (Ro senberg 1965). Self-esteem is generally considered the evaluative component of the self-concept, a broader representation of the self that include cognitive and behavioral aspects as well as evaluative or affective ones.  (Tomaka&Blascovich, 1991). Self esteem is an extremely popular construct within psychology, and has been related to virtually every other psychological concept or domain, including personality (e.g., shyness), behavioral (e.g., task performance), cognitive (e.g., attribution bias), and clinical concepts (e.g., anxiety & depression). Environment of acceptance and success raises self-esteem, while environment of failures lower it.Coopersmith (1967) cited evidence supporting the importance of self-esteem. He concluded that people with feelings of inadequacy and unworthiness see themselves as inferior and unable to generate inner resources to improve their situation. Feeling of inferiority may result if it does not meet personal aspirations. In his antecedents of sel f, he suggested four factors that contribute to the development of self- esteem. These are: the values that the child perceives to have towards the self, the child’s experience withsuccess and his individual definitions of success or failure as well as the child’s style of dealing with negative feedback or criticism.To understand a man psychologically, one must understand the nature and degree of one’s self-esteem, and the standards that one judges oneself. Self-esteem is confidence in one’s capacity to achieve values (Branden, 1970) People with high self-esteem take risks more easily than those with low self-esteem. Low self-esteem has many different manifestations; withdrawal, depression, and lack of self- confidence are all symptoms of low self-esteem. As the first emphasis of this study, self-esteem has shown to be a significant personality variable in determining human behavior.OBJECTIVES OF THE STUDYThe objective that guided this study sought to ana lyze the personal strengths of the participants, to elevate their self- esteem and create positive self image. Aims to increase self confidence and self awareness to enable positive decision making and to form constructive relationships. To empower young people especially the college students to advocate on their own and on other’s behalf. To maintain a stable and positive sense of oneself.SIGNIFICANCE OF THE STUDYThe significance of this study is to help the following; Students. This research study will help students especially those who was not able to cope and handle social problems and to learn how to deal with it. Teachers. This will serve as the basis for future plans of teachers with regard to the necessary actions for the recovery of the deteriorating self- esteem of the students. Parents. This study will enrich their knowledge about self-esteem and can help to boost their child self confidence. Researchers. This study, particularly, its results will be of great help, for it will supplement and compliment needed ideas of the researchers.STATEMENT OF THE PROBLEM1.) How do self esteem associated with depression, anxiety, motivation and satisfaction to the participants? 2.) What are the factors that causes an individual to lack self confidence? 3.) How do the participants improve their self esteem?SCOPE AND LIMITATIONS OF THE STUDYThe main focus of the study is based on the main problems in the facilities of the Cavite State University-Indang, Campus. It focuses based on knowing college students’ self-esteem and how they want to see themselves during the academic year 2012-2013. The population of frame of this study was the 1st year BS Psychology students from in the Cavite State University-Indang, Campus.ASSUMPTIONS OF THE STUDYThe researchers assume that the participants will answer the given questions accurately. Their personal identity will remain confidential so that the participants who may withdraw from the study at anytime with no ra mifications. In addition to, the respondents will rate some situation truthfully.CHAPTER IIReview of related literature and studies Local LiteratureContingencies Of Filipino Adolescent Self-Esteem And The Possible Effect Of Direction Of Social Comparison by Eric L. Dimar This study utilized both quantitative and qualitative approach in order to understand Filipino adolescent self-esteem more, particularly to determine on what contingencies do adolescents base their self-esteem. It also examined direction of social comparison to determine if this is related to their level of self-esteem. Gender differences were also investigated.High school student (N=287) from a private, co-educational institution in Quezon City were administered the Rosenberg Self-Esteem (RSE) Scale, a supplemental version of the Contingencies of Self-Worth (CSW) Scale, and a research-made Direction of Social Comparison Tendency (DSCT) Scale. Chi-square and t-tests were utilized to reveal possible relationships amo ng the different variables. Focus groups were organized to investigate further other possible factors affecting adolescents self-esteem.Results revealed that students with low self-esteem compared to those with high self-esteem tend to compare themselves more to others who are better or to those who have more. They also tend to see themselves in areas that they are not positively endowed with. In general adolescents base their self-esteem on internal factors, namely on their belief that they are loved by God and by their adherence to a moral code. No gender differences was found between males and females’ direction of social comparison. Females were found to be more affected than males regarding academic performance, family relationships, and relationship with God.Children need self-esteem by Sofia Logarta (Cebu Daily News) In adulthood, people suffering from low self-esteem often hold themselves back from great opportunities because the feel they do not feel ‘good enou gh’†. She also called attention to findings of the research of the University of Calgary â€Å"that verbal abuse often has more psychological impact and subsequent psychological damage than physical abuse.† She laments the lack of awareness on the part of parents regarding the act of verbal abuse and its impact on children. â€Å"Their criticism is not helping shape the child into a productive vibrant individual, but rather a shell of a person who is very insecure,  very afraid of life, and afraid of doing something wrong. Sometimes they are not even sure what that wrong would be because they are criticized for everything they do anyhow.†Foreign LiterationAccording to Alfie Kohn (The Truth About Self-Esteem), the schools should try to help students feel good about themselves. This topic has become sufficiently polarized that the vast majority of people who address themselves to it stand in one or two camps: the pro self esteem, mostly educators, who can scarcely believe that anyone would question the importance of trying to improve students perceptions of their own worth, and the critics, who dismiss such efforts as ineffective and nonsensical distractions from academics. This analysis lead him to discuss of what might be more constructive than the usual arguments for and against self esteem. He said that there is no getting around the fact that most educators whose speak earnestly about the need to boost students’ self esteem are unfamiliar with the research that has been conducted on this question at best, they may vaguely assert, he confess he used to do that â€Å"studies† suggest self esteem is terribly important.Taking Charge of Your Self-Image by CB StaffWhen you're feeling inadequate as a college student, keep these five factors in mind: 1. You're not the only one who makes mistakes. You can react to failure in two ways: Drag yourself into the recesses of self-pity, or acknowledge your mistakes and do your bes t to correct them. 2. Take time to do things you enjoy and excel at. If you don't have a hobby, get one. Jamaica's hobby of volunteering allowed her to put life into perspective. â€Å"It made me realize that some people are worse off than I am,† she says. 3. Set small goals. If you have trouble speaking in class, say hello to someone you don't know. After a couple of weeks, volunteer to speak in class. Pick a time when you're certain you can add insight to the discussion. Later on, get a little gutsier and say something controversial.4. Every semester, pick a class that interests you, as opposed to one that fills a degree requirement. Evenbeck points out that getting excited by coursework is vital to success, which will naturally improve self-esteem. â€Å"The old ‘sit down,  shut up, and memorize this' approach that some students perceive to be the message of educators is disastrous for student learning,† he says. 5. Visit student tutors and mentors, even if you don't think you need to. Tutoring services often have a negative stigma attached to them — college students may think visiting a tutor means they're not smart enough to learn on their own. But the main job of a student tutor or mentor is to offer advice in areas where he or she struggled at one time. Evenbeck says tutors and mentors are vital to the learning process. â€Å"Students often arrive without the habits that are required for successful university study. Other students are often in the best [position] to communicate those behaviors to new students,† he says.Developing those habits will lead to greater success and a better self-image. Tending to your sanity and developing a healthy self-image is just as important as anything you learn in a textbook. And maintaining a positive outlook will help keep you out of the doldrums and allow you to concentrate on learning and growing as a person. Jamaica says she learned to lean on people close to her to help get her through: â€Å"It's important to surround yourself with supportive people, like friends and family.†CHAPTER III METHODOLOGYResearch DesignThis study used the survey research design. The design was ideal because it facilitated collection of data from a large number of respondents through a self administered questionnaire. The descriptive method was employed since it is interested to find out the extent to which the variables are related to each other. Specifically, the study dealt with self esteem of the students in CVSU. Research InstrumentsPartially structured and open ended questionnaire was developed to collect data on the variables identified for the study. Since self-esteem concept is abstract, affective questions were used to bring out an individual self-esteem concept. These questions aimed at eliciting emotions on how students felt toward themselves. Analysis of College Students’ Self Esteem and Their Desire to Feel Good About Themselves CHAPTER IINTRODUCTIONSelf esteem refers to the amount of realistic respect that you have for yourself. It is important for a person to have a healthy self-esteem in order to lead a happy and successful life. People with low self-esteems often have a harder time leading a happy and successful life. People with a healthy self-esteem realize that they deserve the good things in their lives, while those who suffer from low self-esteem feel that they deserve only the bad things in live. Each person is responsible for their own self-esteem and can take measures to improve their self-esteem, thereby improving their lives.Background of the studyThe relationship between a student’s scholastic performance and achievement and his/her sense of personal worth or self-esteem is likely to be mediated by a number of factors such as personal and familial aspirations, peer accomplishments and teachers and school expectations. Self-esteem can be defined as an individual’s judgment of his or her self-worth (Rosenberg 1965). Self-esteem is generally considered the evaluative component of the self-concept, a broader representation of the self that include cognitive and behavioral aspects as well as evaluative or affective ones.  (Tomaka&Blascovich, 1991).Self esteem is an extremely popular construct within psychology, and has been related to virtually every other psychological concept or domain, including personality (e.g., shyness), behavioral (e.g., task performance), cognitive (e.g., attribution bias), and clinical concepts (e.g., anxiety & depression). Environment of acceptance and success raises self-esteem, while environment of failures lower it.Coopersmith (1967) cited evidence supporting the importance of self-esteem. He concluded that people with feelings of inadequacy and unworthiness see themselves as inferior and unable to generate inner resources to improve their situation. Feeling of inferiority may result if it does not meet personal aspirations. In hi s antecedents of self, he suggested four factors that contribute to the development of self- esteem. These are: the values that the child perceives to have towards the self, the child’s experience withsuccess and his individual definitions of success or failure as well as the child’s style of dealing with negative feedback or criticism.To understand a man psychologically, one must understand the nature and degree of one’s self-esteem, and the standards that one judges oneself. Self-esteem is confidence in one’s capacity to achieve values (Branden, 1970) People with high self-esteem take risks more easily than those with low self-esteem. Low self-esteem has many different manifestations; withdrawal, depression, and lack of self- confidence are all symptoms of low self-esteem. As the first emphasis of this study, self-esteem has shown to be a significant personality variable in determining human behavior.OBJECTIVES OF THE STUDYThe objective that guided this study sought to analyze the personal strengths of the participants, to elevate their self- esteem and create positive self image. Aims to increase self confidence and self awareness to enable positive decision making and to form constructive relationships. To empower young people especially the college students to advocate on their own and on other’s behalf. To maintain a stable and positive sense of oneself.SIGNIFICANCE OF THE STUDYThe significance of this study is to help the following; Students. This research study will help students especially those who was not able to cope and handle social problems and to learn how to deal with it. Teachers. This will serve as the basis for future plans of teachers with regard to the necessary actions for the recovery of the deteriorating self- esteem of the students. Parents. This study will enrich their knowledge about self-esteem and can help to boost their child self confidence. Researchers. This study, particularly, its results wi ll be of great help, for it will supplement and compliment needed ideas of the researchers.STATEMENT OF THE PROBLEM1.) How do self esteem associated with depression, anxiety, motivation and satisfaction to the participants? 2.) What are the factors that causes an individual to lack self confidence? 3.) How do the participants improve their self esteem?SCOPE AND LIMITATIONS OF THE STUDYThe main focus of the study is based on the main problems in the facilities of the Cavite State University-Indang, Campus. It focuses based on knowing college students’ self-esteem and how they want to see themselves during the academic year 2012-2013. The population of frame of this study was the 1st year BS Psychology students from in the Cavite State University-Indang, Campus.ASSUMPTIONS OF THE STUDYThe researchers assume that the participants will answer the given questions accurately. Their personal identity will remain confidential so that the participants who may withdraw from the study a t anytime with no ramifications. In addition to, the respondents will rate some situation truthfully.CHAPTER II Review of related literature and studies Local LiteratureContingencies Of Filipino Adolescent Self-Esteem And The Possible Effect Of Direction Of Social Comparison by Eric L. Dimar This study utilized both quantitative and qualitative approach in order to understand Filipino adolescent self-esteem more, particularly to determine on what contingencies do adolescents base their self-esteem. It also examined direction of social comparison to determine if this is related to their level of self-esteem. Gender differences were also investigated.High school student (N=287) from a private, co-educational institution in Quezon City were administered the Rosenberg Self-Esteem (RSE) Scale, a supplemental version of the Contingencies of Self-Worth (CSW) Scale, and a research-made Direction of Social Comparison Tendency (DSCT) Scale. Chi-square and t-tests were utilized to reveal possi ble relationships among the different variables. Focus groups were organized to investigate further other possible factors affecting adolescents self-esteem.Results revealed that students with low self-esteem compared to those with high self-esteem tend to compare themselves more to others who are better or to those who have more. They also tend to see themselves in areas that they are not positively endowed with. In general adolescents base their self-esteem on internal factors, namely on their belief that they are loved by God and by their adherence to a moral code. No gender differences was found between males and females’ direction of social comparison. Females were found to be more affected than males regarding academic performance, family relationships, and relationship with God.Children need self-esteem by Sofia Logarta (Cebu Daily News) In adulthood, people suffering from low self-esteem often hold themselves back from great opportunities because the feel they do not feel ‘good enough’†. She also called attention to findings of the research of the University of Calgary â€Å"that verbal abuse often has more psychological impact and subsequent psychological damage than physical abuse.†She laments the lack of awareness on the part of parents regarding the act of verbal abuse and its impact on children. â€Å"Their criticism is not helping shape the child into a productive vibrant individual, but rather a shell of a person who is very insecure,  very afraid of life, and afraid of doing something wrong. Sometimes they are not even sure what that wrong would be because they are criticized for everything they do anyhow.†Foreign LiterationAccording to Alfie Kohn (The Truth About Self-Esteem), the schools should try to help students feel good about themselves. This topic has become sufficiently polarized that the vast majority of people who address themselves to it stand in one or two camps: the pro self esteem, mostly educators, who can scarcely believe that anyone would question the importance of trying to improve students perceptions of their own worth, and the critics, who dismiss such efforts as ineffective and nonsensical distractions from academics.This analysis lead him to discuss of what might be more constructive than the usual arguments for and against self esteem. He said that there is no getting around the fact that most educators whose speak earnestly about the need to boost students’ self esteem are unfamiliar with the research that has been conducted on this question at best, they may vaguely assert, he confess he used to do that â€Å"studies† suggest self esteem is terribly important.Taking Charge of Your Self-Image by CB StaffWhen you're feeling inadequate as a college student, keep these five factors in mind: 1. You're not the only one who makes mistakes. You can react to failure in two ways: Drag yourself into the recesses of self-pity, or acknowledge your mista kes and do your best to correct them. 2. Take time to do things you enjoy and excel at. If you don't have a hobby, get one. Jamaica's hobby of volunteering allowed her to put life into perspective. â€Å"It made me realize that some people are worse off than I am,† she says. 3. Set small goals. If you have trouble speaking in class, say hello to someone you don't know. After a couple of weeks, volunteer to speak in class.Pick a time when you're certain you can add insight to the discussion. Later on, get a little gutsier and say something controversial. 4. Every semester, pick a class that interests you, as opposed to one that fills a degree requirement. Evenbeck points out that getting excited by coursework is vital to success, which will naturally improve self-esteem. â€Å"The old ‘sit down,  shut up, and memorize this' approach that some students perceive to be the message of educators is disastrous for student learning,† he says. 5. Visit student tutors an d mentors, even if you don't think you need to. Tutoring services often have a negative stigma attached to them — college students may think visiting a tutor means they're not smart enough to learn on their own.But the main job of a student tutor or mentor is to offer advice in areas where he or she struggled at one time. Evenbeck says tutors and mentors are vital to the learning process. â€Å"Students often arrive without the habits that are required for successful university study. Other students are often in the best [position] to communicate those behaviors to new students,† he says. Developing those habits will lead to greater success and a better self-image. Tending to your sanity and developing a healthy self-image is just as important as anything you learn in a textbook. And maintaining a positive outlook will help keep you out of the doldrums and allow you to concentrate on learning and growing as a person. Jamaica says she learned to lean on people close to her to help get her through: â€Å"It's important to surround yourself with supportive people, like friends and family.†CHAPTER III METHODOLOGY Research DesignThis study used the survey research design. The design was ideal because it facilitated collection of data from a large number of respondents through a self administered questionnaire. The descriptive method was employed since it is interested to find out the extent to which the variables are related to each other. Specifically, the study dealt with self esteem of the students in CVSU.Research InstrumentsPartially structured and open ended questionnaire was developed to collect data on the variables identified for the study. Since self-esteem concept is abstract, affective questions were used to bring out an individual self-esteem concept. These questions aimed at eliciting emotions on how students felt toward themselves.

Assignment Front Sheet Essay

Marketing is at the heart of every organisation’s activity. Its importance is also growing in the non-commercial, public and voluntary sectors. Also, at the heart of marketing is the customer. This unit will introduce learners to some of the tools and techniques all types of organisations use to achieve their objectives. Firstly, learners will explore how different types of organisations use marketing principles to meet the needs of their customers and achieve their objectives. The constraints under which organisations operate are important and learners will study the legal requirements and voluntary codes that affect marketing. Learners will then go on to investigate how organisations collect data through market research and turn it into useful information which can be analysed and used to plan their marketing activities. The segmentation and targeting of groups of customers is a key marketing technique and this is studied in detail. This includes the different bases for segmentation of both consumer and business markets. Next, learners will examine how a marketing mix is developed to meet the needs and aspirations of a targeted group of prospective customers, before going on to develop a marketing mix for a new product or service. Learning Outcomes: On completion of this unit you should: 1. Know the role of marketing in organisations 2. Be able to use marketing research and marketing planning 3. Understand how and why customer groups are targeted 4. Be able to develop a coherent marketing mix. 5.  Criteria reference Assignment brief Qualification BTEC L3 Extended Diploma In Business Unit number and title Unit 3: Introduction to Marketing Start date 24th March 2014 Deadline 22/04/14 Assessor name KAREN MASON Assignment title ‘A’ LISTED MARKETERS. Part 1 The purpose of this assignment is to: Work individually to complete the following tasks. Assignment Brief/Scenario You have just started working for a large marketing and design agency based in Teesside that consults for a variety of businesses on the marketing activities that they undertake in order to promote their products or services. The agency has a varied portfolio of ‘A’ Listed clients and you have been given the task of consulting for two new clients, one business that operates in the private sector and one in the public or voluntary sector. Choose your two businesses remembering that: One must be from the private sector, for example, Marks & Spencer One must be from the public or voluntary sector, for example, Oxfam. Task 1 Describe how marketing techniques are used to market products in two organisations. You task is to produce a presentation for your senior management team (SMT) to introduce your new clients. Your presentation must include the following: Part A a) Two different definitions of marketing (don’t forget to reference your source!) b) Identify the broad aims and objectives of organisations of the private, public and voluntary sectors c) Identify the aims specifically for each of your selected businesses d) e) Part B f) For each business, you will need to research and describe the marketing techniques it has used in order to market one product/service. These techniques might include: Growth strategies Survival strategies Branding Relationship marketing. Following unit content guidance sheet & week 1 PowerPoint; in support of this task (P1) Describe the limitations and constraints of marketing Your task is to create a factsheet that describes the limitations and constraints under which marketers operate; this should include legal requirements and the use of voluntary codes and constraints. Task 2: Select one of the businesses you researched for criterion P1, describe the limitations and constraints of marketing for the organisation. Include the following in your description: legal constraints, for example Sale of Goods Act 1979, The Consumer Protection from Unfair Trading Regulations 2008, Consumer Credit Acts 1974 & 2006, Consumer Protection (Distance Selling)  Regulations, Date Protection Act 1998 Voluntary constraints, for example Code of Advertising Practice and Advertising Standards Authority. pressure groups and consumerism, for example CBI Acceptable language. Guidance note: you should give real life examples of each limitation and constraints identified and include suitable text and images into your factsheet. Following unit content guidance sheet & week 2 PowerPoint; in support of this task (P2) Task 3 Compare marketing techniques used in marketing products in two organisations M1 To complement the presentation you developed for criterion P1, you now need to produce a report where you will demonstrate higher-level skills through comparing or finding the similarities and differences between the marketing techniques used by the two organisations. Guidance note: your report should include an introduction and be separated into sub-sections including growth strategies, survival strategies, branding and relationship marketing. Follow tutor support; stretch & challenge activities to work towards this criteria (M1) Evaluate the effectiveness of the use of techniques in marketing products in one organisation. D1 This task is an extension to the report you have produced for criterion M1. You now need to select one of your two businesses and fully explain how effective you think it has been with the techniques used in marketing its  products? You should fully justify your answer and make suitable recommendations for improvement. Guidance note: you should back up your points with suitable, real life examples relating to that particular business. Evaluation requires more than stating an opinion and should demonstrate higher-level skills such as researching and interpreting data and using logical judgements about the validity and reliability of the data used to evaluate the effectiveness of the marketing techniques Follow tutor support; stretch & challenge activities to work towards this criteria (D1) Sources of information Indicative Reading  Bevan J, Dransfield R, Coupland-Smith H, Goymer J and Richards C – BTEC Level 3 National Business Student Book 1 (Pearson, 2009) ISBN 9781846906343. Tutor support Stretch & Challenge guidance sheets.