The Common Problems Associated With Dams Environmental Sciences Essay

A Dam is a physical barrier constructed across a river or a waterway to command the flow of or raise the degree of H2O. The intent of such a building may be flood control, irrigation demands and coevals of hydroelectricity. A dike is a barrier across fluxing H2O that obstructs, directs or slows down the flow, frequently making a reservoir, lake or impoundings. Most dikes have a subdivision called a wasteweir or weir over which, or through which, H2O flows, either intermittently or continuously, and many have hydroelectric power coevals systems installed. The dikes are advantageous in more than a individual manner. Advantages of a dike are listed below: They are helpful in forestalling inundations. They serve as a solution to energy crises by bring forthing hydroelectricity. They prove to be helpful in irrigation They better the H2O conveyance. And last but non the least they attract tourers. Dams are excessively good for world but at the same clip they are harmful excessively in several ways. Disadvantages of a dike are listed below: Constructing a dike is an expensive matter. For constructing a dike a immense population of nearby country is moved. The life environment of aquatic and semi aquatic vegetations and fauna gets disturbed in lower instance. Collapse of the dike causes great harm. Fig 1 Dam [ www.timboucher.com ] Now in this paper we will be sing and detecting the chief causes of Dam Failure along with instance survey for every cause. Main causes of Dam Failure are: Spillway planing mistake. Skiding of mountain into the dam lake. Poor care particularly of outlet pipes. We will be discoursing all of the above mentioned causes one by one. Besides all the above causes there is one more ground due to which dikes are collapsed. In proficient footings it is called Deliberate Dam Failure. This happens during the class of War. When force of one state destroys the dike of other state intentionally so this is known as Deliberate Dam Failure. As this cause is nat a common cause so we would non see this in our survey. SPILLWAY DESIGN ERROR Spillway ( shown in Fig 2 ) is a characteristic construction of a dike which is used to supply controlled release of flows of H2O from the dike into the downstream. Spillways release inundations so that the H2O does non dominate and damage or even destruct the dike. There are two ways of wasteweirs: Controlled and Uncontrolled. Controlled Spillway: It has Gatess which regulate the H2O. This design gives us an chance to work the full tallness of the dike and inundation Waterss can be released as required by opening one or more Gatess. Uncontrolled Spillway: It does non hold Gatess, when the H2O rises above the lip of the wasteweir it begins to be released from the reservoir. The rate of discharge of H2O is controlled merely by the deepness of H2O within the reservoir. All of the storage volume in the reservoir above the wasteweir lip can be used merely for the impermanent storage of floodwater, and can non be used as H2O supply storage because it is usually empty. Fig 2 Spillway [ www.wikipedia.com ] CASE STUDY: The South Fork Dam As a instance survey under this cause of Dam Failure we will analyze the destruction of South Fork Dam which was located on Lake Conemaugh, an unreal H2O organic structure located near South Park, Pennsylvania, USA. On May 31, 1889, the South Fork Dam failed and 20 million dozenss of H2O from Lake Conemaugh explosion through and raced 14 stat mis ( 23 kilometer ) downstream, doing the Johnstown Flood. History of South Fork Dam The South Fork Dam was built by the Commonwealth of Pennsylvania between 1838 and 1852 as a reservoir for the canal basin in Johnstown. The dike is located 14 stat mis upriver from Johnstown. The Comenaugh River runs through the bosom of Johnstown and it had been made narrower in order to construct more constructions on it Bankss. The river was susceptible to deluging due to it & amp ; acirc ; ˆâ„ ¢s location on a inundation field. The Commonwealth of Pennsylvania sold the dike to the Pennsylvania Railroad in 1857. With the reaching of rail service in 1852, the usage of the canal for bringing of goods took a downswing. The South Fork Dam was abandoned and allowed to travel into a province of disrepair. In 1862, portion of the culvert gave manner but was ne'er repaired. In 1879, a group of business communities formed a company and called it the South Fork Hunting and Fishing Club. They purchased the dike with the purpose of constructing a summer resort on Lake Comenaugh for aff luent Pittsburg households. Plans included take downing the dike in order to construct a route on top and raising the degree of the lake. The nine continued to do changes to the dike and in the terminal, the lake was 450 pess higher than Johnstown. [ suit101.com ] From the above abstract we can easy do out that the sick care of the wasteweir and rise of the degree of river made the status worse and eventually the uninterrupted rain made the Dam collapsed. After the Dam gave up about approximately 20 million dozenss of H2O spilled over the dike and Jhonstown was hit without any anterior warning. The H2O headed towards the town with a velocity of about 40 stat mis per hr. The inundation played mayhem and made over 2,200 people lose their lives and all over harm was estimated to be $ 17 million. This was the first major catastrophe faced by the newly-formed American Red Cross. Aid came from 18 states across the Earth. The South Fork Dam Break is shown Below [ Fig 3 ] Beside the Spillway failure there are other causes which are responsible for the Disaster and they are: Heavy and uninterrupted Rainfall. Rising H2O caused eroding of new embankment which was made up of clay and straw. Fig 3 South Fork Dam Break [ www.accuweather.com ] Precautions which could hold saved South Fork Dam: The chief cause of the interruption was Spillway design mistake. There were deficient wasteweirs which made the tremendous sum of H2O to slop. If there had been more spillways so the catastrophe would hold been avoided. The damaged parts of the dike should hold been repaired. The new parts should hold been made up of concrete alternatively of rock, clay and straw. SLIDING OF MOUNTAIN INTO THE DAM LAKE A dike is made at the base of a river and in between a vale which means that the lake or H2O organic structure which is dammed has mountains on both side of it. Now as a dike is made the natural geological balance is disturbed and these mountains get loosen up and develops clefts which causes landslides to happen. These landslides pose a great menace when they fall in the lake. If a landslide of great volume falls in the lake so it raises the H2O degree to a great extent and that excessively all of a sudden. This sudden rise makes a immense sum of H2O to slop over the dike doing tsunami ( seiche moving ridge ) . This moving ridge brings a monolithic inundation and devastation to the vale below which wipes a great country. CASE STUDY: The Vajont Dam As a instance survey under this cause of Dam Failure we will analyze the destruction of Vajont Dam [ shown in Fig 4 ] which was located on Vajont River under Monte Toc, 100 kilometers north to the Venice, Italy. It was responsible for the deceases of about 2,000 people in a 1963 landslide. One of the highest dike in the universe, it was 262 metres ( 860 foot ) high, 27 metres ( 89 foot ) midst at the base and 3.4 metres ( 11 foot ) at the top. The dike was built by SADE ( Society of Adriatic Energy Corporation ) , the electricity supply and distribution monopolizer in North-Eastern Italy. History of Vajont Dam: The building work of the dike started in 1950. In 1959 some slides were noticed and new surveies were made and the experts told SADE that the side of Mount Toc is unstable and is likely to fall in if the filling is continued. The survey and experts were ignored wholly. In October 1959 the building was complete and in February 1960 SADE was authorized to get down make fulling the basin. Equally shortly as the filling started and reached to certain degree boulder clay summers of 1960 minor land slides started taking topographic point. But even these slides were ignored and the few journalists who raised their voice were sued. Finally on 4 of November 1960 a landslide of about 800,000 three-dimensional metres collapsed in the lake. This made SADE to hold make fulling but it was started once more after take downing the degree by 50 metres and get down constructing an unreal gallery. The minor slides kept on taking topographic point and functionaries of SADE kept on foretelling the catast rophe but they were ignored. On 9 October 1963 at about 10:35pm, the combination of ‘drawing-down the reservoir ‘ and heavy rains triggered a landslide of about 260 million three-dimensional metres of forest, Earth, and stone, which fell into the reservoir at up to 110 & A ; Acirc ; km per hr ( 68 & A ; Acirc ; miles per hour ) . The ensuing supplanting of H2O caused 50 million three-dimensional metres of H2O to over-top the dike in a 250-metre high moving ridge. [ 6 ] Despite this, the dike ‘s construction was mostly undamaged. Approximately 1900 to 2500 people were dead and 350 households were wholly wiped off. The major causes of this catastrophe are: The heavy 50 million three-dimensional metre landslide into the lake which made the tsunami moving ridge rose. The other minor land slides in the lake and in the unreal gallery. Heavy rainfall which paved the way for the catastrophe. Major causes for the land slides are: Perturbation in the geological balance of Mount Toc. Continuous filling of the basin. Time to clip rainfall. Fig 4 Vajont Dam [ wikipedia.com ] Precautions which could hold saved South Fork Dam: If anyhow the land slide could be prevented so the catastrophe might hold been avoided. The landslide can be prevented by following two methods: Plantation: More and more workss on the offshore side of the mountain. The roots of the workss help in adhering the stones and dirt together and prevent eroding therefore land skiding. Terrace plantation is a good option. By unreal mountain binding: In this procedure the mountain is bound with the aid steel cyberspace which prevent slides and even if land slide, the net prevent it from falling.POOR MAINTENANCE ESPECIALLY OF OUTLET PIPESMercantile establishments came in scope of designs, sizes, stuffs and type of control. Most of the commanding mechanisms and conduits are normally submerged and are reasonably boring to entree for care every bit good as review. This is the ground of carelessness and some serious jobs start developing. The job can run from the control works going inoperable to the conduit deteriorating to the point of embankment failure. Proper review of the mercantile establishment normally requires advanced planning to let escapes to be shut off and afloat countries to be pumped out. CASE STUDY: Lawn Lake Dam Now as a instance survey under this subdivision we will do a thorough survey of Lawn Lake Dam [ Fig 5 ] . This dam failure occurred due to the disrepair of the mercantile establishment pipe which was located at the distant and boring location. The uninterrupted carelessness of remotely situated leaky pipes caused the catastrophe when on July 15, 1982 at 6 ante meridiem 830,000 M3 of H2O exploded out of the faulty pipes. This tremendous sum of H2O caused a brassy inundation and priced $ 31 million. History of Lawn Lake Dam: Originally the Lawn Lake was a natural lake covering a surface country of over 66,000 M3s. It was situated at a tallness of 3,400 m in the bouldery mountain. In 1903 some husbandmans seeking irrigation installations out of this lake, built a dike and the covering land of the lake increased to 190,000m3. It was started in 1902 and the dike was completed in 1903. The dike increased the storage capacity of this natural H2O organic structure. This dike was built in the eastern portion. The H2O from this dike was released through the steep channel into the Big Thompson River. As the dike was built in the bouldery mountain, its design was such that it made the location of mercantile establishment pipe quit remote. Bearing the carelessness of functionaries the dike survived 80 long old ages. On the forenoon of 15 July 1982 the dike collapsed let go ofing 228 million gallons of H2O all of a sudden. This immense sum of H2O poured through the steep and narrow versant. It is said that there was enormous sound and the Earth shook. The release rate of H2O was 510 m3/s. Though this great aquatic violent disorder killed merely one individual bivouacing aboard but economically the cost of this catastrophe was estimated to be $ 31 million. The H2O got poured in the river and hit the cascade dike ensuing in ruin of the same adding more sum of H2O to the inundation. This inundation destroyed the Aspenglen campsite. Then after the inundation H2O entered the town of Estes Park and caused great harm to the business district stores after which the inundation joined Thompson River. This inundation deposited an alluvial fan of dust in Horseshoe Park. Fig 5 Alluvial Fan [ wikipedia.com ] Precautions that could hold saved the Lake Lawn Dam: Merely two safeguards would hold saved the black terminal of Lake Lawn Dam and they are If the dike would hold been design in such a manner that the mercantile establishment pipes could hold been easy accessed so the fix work won & A ; acirc ; ˆâ„ ¢t have been delayed and the escape could hold been avoided. Seasonably mending work of the dike would hold saved this great harm.

Interaction and Communication Essay

1.1: Explain how different forms of dementia may affect the way an individual communicates: Forms of dementia are all different therefore the individuals will be affected in different ways when it comes to communication, for example; one individual may find it difficult to express their words where as another individual may speak more fluently but their sentences not make any sense. The individual depending on what type of dementia and how far into the stage they are may find other ways communicating such as; using body language, facial expressions, gestures, eye contact and tone of voice. Read more:  Explain How Individuals With Dementia May Communicate Through Their Behaviour 1.2: Explain how physical and mental health factors may need to be considered when communicating with an individual who has dementia: Physical and mental health factors will also need to be considered when communicating with someone who has dementia, for example somebody who is deaf and has hearing aids will need to make sure that the carer has put the hearing aids in correctly, that they are switched on and turned right up. The carer will also need to speak in a loud and clear tone of voice to able the individual to communicate more easily. The carer will need to make sure the individual has their glasses on if they wear any so that the carer can keep direct eye contact with the individual so the communication is better. For physical health factors the carer will need to consider that the individuals may be in pain or have discomfort which will more than likely affect their communication. 1.3: Describe how to support different communication abilities and needs of an individual with dementia who has a sensory impairment: People with dementia may need extra support with different types of communication abilities when it comes to sensory impairment, for example; Vision: People with dementia may experience several changes in visual abilities, for example they may lose their ability to grasp visual images although there is nothing physically wrong with their eyes. People with dementia may no longer be able to understand what they see exactly due to changes in their brain. The carer could support the individual by; Marking the edges of steps with brightly coloured strips of tape. Place brightly coloured signs or simple pictures on important rooms such as the bathroom for easier identification. Smell: A loss or decrease in smell usually occurs with people with dementia. The carer could support the individual by; Having good quality smoke alarms and to check them frequently as the individual may not smell the smoke. Also keep the fridges clean and tidy. Touch: People with dementia may suffer from loss of touch and may not be able to tell someone when something is too hot or too cold or even when they are in pain or discomfort. The carer could support the individual by; Adjusting the water heaters to the correct temperature so it isn’t possible to scald anyone. Colour coding the water taps; blue for cold, red for hot. Placing signs on electricals and to have supervision with the individual when  they need to use them. Removing furniture that is hazardous or putting cushions on the corners to keep them padded. Taste: People with dementia may lose taste sensitivity which could lead them to putting anything and everything in their mouths, also it could stop them from wanting to eat. The carer could support the individual by; Remove/lock up medicine cabinet items such as tooth paste, hairspray, body washes/soaps. To have a child proof lock on the fridge if necessary. Keep items such as salt, sugar or spices away from reach in case of the resident eating too much of it. Hearing: People with dementia may have normal hearing but may struggle with understanding what someone is trying to say. This may result in confusion or over-stimulation. The carer could support the individual by; Avoiding loud noises in the home such as the radio or TV being too loud. Avoid large gatherings in the home if the person with dementia shows signs of agitation or distress in crowds. 1.4: Describe the impact the behaviours of carers and others may have on an individual with dementia: People with dementia can display certain behaviours which can be seen by others as inappropriate or unacceptable such as shouting, excessive screaming, insultive and inappropriate touching. What the carers and other should see this as is this is part of the individual’s dementia and handled in a polite manner, this isn’t the individual’s personal behaviour it is part of their condition. Shouting at a dementia resident because they are screaming will just make the  resident worse as it can cause further distress and confusion to them. By not paying attention to the resident when they make a request can leave the resident feeling like a burden to the system. Somebody with dementia could forget when they need the toilet or even where the toilet is and with a carer or others blaming the individual for continence issues this can make the individual feel sad and ashamed. Carers however should encourage and reassure the individuals. People with dementia should also be encouraged to take part in their daily routines if they are able to do so as this will help the individual to feel useful and helpful and involved. Carers who do everything and don’t allow the residents to get involved can leave the residents feeling useless and like a burden too. Be able to use positive interaction approaches with individuals’ with dementia: 4.1: Explain the difference between reality orientation approach to interactions and a validation approach: Reality orientation and validation approaches are quite different as reality orientation is all about here and now, meaning the time of day, where they are and what they are doing, where as the validation approach is when the carer would accept and take on board what the individual is saying but to not correct them when they are wrong as in the approach the carer is focusing more on the indivdual’s feelings rather that the content of speech. References: Websites: www.caringnews.com www.fightdementia.org.au

American reactions to the vietnam war Essay

It contains broad coverage regarding what happened in the demonstration and the reaction of the construction workers to the war. But it fails to provide wider coverage to America’s reaction as a whole, as it only explores one event, from a certain group, which were only a small minority of the American population. It provides some context by briefly explaining why the construction workers went on this demonstration, however some areas lack context as it isn’t entirely clear as to why they reacted so violently to the war. It portrays a precise and detailed insight as to how the ‘Hard Hat’ construction workers reacted to the war, however other areas of the representation lack sufficient detail, for example the author only briefly mentions how the police collaborated with the construction workers. However it does provide broad coverage as it mentions the different reactions to the demonstration, including a major American newspaper. This representation explores the ‘Hard Hat’ demonstration in great precise detail, giving a clear view into exactly what happened on that demonstration, and how the construction workers reacted to the war. Even though it explores the event in great depth it fails to include figures, dates or statistics. It also lacks context and detail in certain areas, for example it fails to mention why the police worked with the construction workers. However it does contain carefully selected quotes which shine further light upon the event, one quote stating that the police were working with the construction workers. The other quote is from a construction worker explaining why he went on the demonstration. In addition the representation completely agrees with what I know about the ‘Hard Hat’ demonstration. This representation is written in a very professional, analytical and factual style, which is mostly detached, making this piece mostly objective. However it is also quite unobjective, as there is a certain amount of emotive language used, for example ‘mob’ and ‘chased down’. It also contains a quote which arguably justifies the attack, explaining that one of the construction workers was doing it for his brother who was wounded in Vietnam. Overall this source gives a detailed insight as to how a group of construction workers reacted to the war, however this is only a small minority and their reaction doesn’t represent the reaction of America. It fails to give a broad view as to how America as a whole reacted to the war. In addition the event is explored in great depth and is written in a professional and analytical style. But it lacks precise detail with no use of figures or dates, and contains a significant amount of emotive language, causing it to be quite inaccurate and unobjective. In conclusion all three representations explore in detail how certain different groups among US society reacted to the war. I have come to the conclusion that representation two is the best regarding the way in which people in America as a whole reacted to the war. It broadly covers in great detail the reaction of many different group among the American population including, pacifist, liberalist and students. The reaction of these groups combined with a survey of public opinion; represent the reaction of a large majority of America. Even though it doesn’t go into as much detail as the other two sources, they only manage to focus on one group of people. This representation objectively and analytically explores in great detail how a number of different groups reacted, and it portrays the best, accurate, most vivid, broad image of how people in America reacted to the war. Show preview only The above preview is unformatted text This student written piece of work is one of many that can be found in our GCSE Classics section.

Journal Review.Describing Trends & Reading Closely Essay

Journal Review.Describing Trends & Reading Closely - Essay Example Also, economic concepts can be explained in a much simpler way to others by creating similarities or analogies to things which may be expected to be well-known to most audiences. Thus, I have gained a wider perspective on the range of applicability, the importance of an accumulation of experiences for better understanding of theories and ideas found in books, and the possible uses of most theoretical concepts that I have learned so far and will still learn in my chosen field. Compared with other popular publications such as magazines, newspapers, books, and other kinds of printed media that are most often freely published without much scrutiny and are available to a wide variety of audiences, academic or scholarly journals are more often than not the product of numerous and rigorous screenings and editing of it wholly, from grammar to soundness and validity of the content (Olson 52). Due to a much more focused or narrow-ranged audiences that are mostly within specific lines of work, research, or subjects, academic or scholarly journals are the kinds of publications which are not readily available to common folk, and even among most academicians or learned folk the information contained in these publications are not necessary applicable for them in their everyday lives since most of these journals and their individual articles have more or less specificities in their intended audiences. In addition, there is a higher rejection rate among these kinds of articles, mainly due to the possible stance of the information that if disseminated, could change the course of different disciplines. The need to scrutinize is rather a daunting task since not all members of the discourse community are easily swayed by the content, and oftentimes have their own counterarguments based on their own knowledge, experiences, and if possible, theories. The discourse community that reviews or screens the content of such journals can be said to be rough and rather unforgiving, while at t he same time dynamic since â€Å"over time, certain issues are put to rest and new issues are explored† (53). In a way, the information being assimilated and gathered in most academic or scholarly journals can either become pioneering or disposable, depending on the speed in updating or affirming certain ideas or concepts released in these kinds of publications. For explaining the contents and the scopes of scholarly or academic journals, the Journal of Economic Essays published by Wiley-Blackwell, a part of the John Wiley & Sons group is the journal chosen for this project. As an aspirant coming from the field of economics, I have chosen this journal since I am confident that with the knowledge that I have learned in my studies on my field of specialization, I may be able to translate the concepts embedded in some articles from the journal to inform others outside of my field not just about this journal’s visions and objectives, but of the idea of economics as a whole . Also, this publication is a rather inclusive one, as it is indicated in the author guidelines that most of the articles acceptable for publication were written in a way that more people can appreciate the content due to lesser economic jargons and more colloquial terms that many readers can understand (John Wiley & Sons). Also, in my opinion using a journal that has lesser technical jargon can be an inviting way to make people or readers from other fields to become relieved from being overwhelmed or

Tata International Marketing Analysis Essay Example | Topics and Well Written Essays - 2500 words

Tata International Marketing Analysis - Essay Example In developing countries like China, India, and Brazil the demand is a great demand for small cars, where the reason is that the majority of the population belongs to the mid-class and prefer small cars rather than highly expensive luxury cars (Enderwick, 2012). Similarly, the rise of oil imports in the developed countries like US has lead to higher demand for fuel efficient cars. This has somehow promoted small car models, which are highly fuel efficient and cost effective (Enderwick, 2012). This study will give a detailed analysis of Tata Motors Company in order to understand how much enterprise is successful in its ultra-low cost car brand â€Å"Tata Nano† (McLoughlin & Aaker, 2010). The analysis will evaluate Tata Nano’s international marketing strategy with respect to the global market segments. The learning objectives in the study are to understand the position of Tata Nano market and to know how Tata Motors is compelling with its International marketing strategies (Kotler, 2009, pp.46). Background to Tata Motors Tata Motors is one of the major car manufacturing companies of Tata Group, the most recognized group in the Indian conglomerate market. The group is present in 85 countries across the world with a workforce population of 300,000 people working at the same time (Weihrich & Cannice, 2010). The Tata Group has founded 98 companies working in different market and business segments. All of this shows that The Tata Group is a leading benchmark in the Indian stock market and it is with a unified presence in the world’s multinational spectrum (Weihrich & Cannice, 2010, pp.103). Tata Motors is one of the stemming companies of the Tata Group. Along with the manufacturing of different car segments like trucks, trailers, and passenger cars, Tata Motors had found a distinctive recognition in India especially in passenger cars like Tata Nano (Akhanov et al., 2009). The car has become popular just because of its Ultra-Low Cost feature. It has touched the hearts of million Indians, who love the car just because of its cheap and easy to afford characteristics. Tata Motors holding a 15-20 percent share in the Indian passenger car market has stabilized a good position domestically, but due to low international sales volume the brand is weak in the global market domain (Akhanov et al., 2009). Analysis and Assessment of Tata Nano Theory of Blue Ocean Strategy â€Å"In a market there are two formats of industries, red oceans and blue oceans. Red oceans are old industries present with conventional norms and settings in the market while blue oceans are untouched market segments, where there is a space to adjust new products with new trends† (Kim & Mauborgne, 2005). Practice It was the fiscal 2008 when Tata Motors launched Nano on a global stage. The launch ranked the car to the World’s cheapest cars category, where it got available in the price US$2,230. This was the first time that India retrieved such cheapest ca r, which included all the features of a brand new car with the drastic attribute of affordability (Pride & Ferrell, 2011, pp.652). The Nano brought lots of expectations for Tata Motors, where the effort has been to promote it in the European corners. In this respect, the company follows extensive growth strategies to bring the car on the International market segment, where there is a need to understand the global low-cost

OLI model Essay Example | Topics and Well Written Essays - 3000 words

OLI model - Essay Example The above approach neglects critical issues, which are critical in defining a multinational firm. The model has three areas where its main advantages are based, that is; It has its advantages in explaining the MNEs existence. Ownership has its advantages in the sense that it addresses the question of why that some firms will go abroad and not others, it postulates that there are some benefits that allow it to overpower the cost of operating abroad. Since firms are the collection of different assets and MNEs candidate has a higher-than-average asset level to have an internal public goods character. The assets can be used in the production in various areas without reduction of their effectiveness. The assets include product dimensional factor, common to model in terms of a single index of the production of the firm. The highest sophisticated treatment in these lines is found in immediate work on non-homogeneous firms that combines the horizontal simplest version motive for FDI, with an assumption of their productivity differences (Faeth, 2009). The OLI model has an aspect to pay a sunk cost in productivity determination. Low-production can be produced only for the purposes of the home market; while medium productivity ones are chosen to pay for export fixed costs, but the most productive ones chosen to pay for higher costs for FDI engagements. The above predictions are in accordance with the evidence. On a further contribution, the model provides that industries with greater heterogeneities have more firms engaged in the FDI. Location advantages address the question of where the firm chooses to locate. Though the theory of international trade has taken ownership advantages just for granted, to make them in more obvious ways, this model has emphasized more on exploration of alternative motives to be located by MNEs abroad. The major factor that has created much attention is the clear distinction between vertical and horizontal FDI. Horizontal FDI happens when

Service Management 1 Essay Example | Topics and Well Written Essays - 2000 words

Service Management 1 - Essay Example Due to the holistic nature of a project brief, following the brief assures the client of the project meeting his vision. Additionally, as the brief deals with the process as well as the product, adherence by all participants during the construction process prevents deviation of the project in terms of either methodology or specification. Adherence to brief also allows benchmarking for the project, and sets higher standards for all contractors involved. Prestige: The prestige and pride associated with a project has to inculcated by the project management team to motivate all actors to perform at their optimum during the process. A high level of personal pride translates to a better site, with a multi-disciplinary non-adversarial approach to problem solving and work completion. Such an atmosphere reflects positively on the project, and assures the client throughout the project of the competence and motivation of the team on site. Profitability: The objective of profitability of the project is a cornerstone of a successful project, and the client's needs can be met only if at every stage of the project, every possible method to value-engineer the project is used to cut costs and increase profitably for the client. Constant monitoring of these methods and their quantifiable results should be presented to the clients, so as to assure him of the teams' endeavor towards meeting project goals and deliverables. Expectations: At the onset, every client has certain expectation from the project in terms of process and product. These expectations should be crystallized by the project management team during the design and planning stages so as to meet actual possible execution targets. The contractors and consultants should also be made aware of what the client expects from them so that they can streamline project procedures and operations to meet the client's expectations. Quality: The first step towards assurance of quality is an objective assessment of the competence of the contractor and the CDM coordinator. All stakeholders in the project need to decide the specifications of all deliverables in the project and make sure that standards are met. When the client is confident of the quality of his team's work, he is able to perform his duties better and contractors have relatively lower number of problems with payments and external interference during work. Time: All projects are economically and functionally viable only if

Australian Airline (Qantas) Essay Example | Topics and Well Written Essays - 1500 words

Australian Airline (Qantas) - Essay Example Safety culture and excellence are the key components of the brand that could help in a smoother entry into other markets. Weakness Declining profits and the domestic passengers choosing to fly out of Australia on airlines other than Qantas has forced the airline to think of alternative routes. Significant differences in culture exist between the Asian countries and Australia, which could impact the marketing strategy. So far Qantas has been focusing on the western countries with similar cultures but entering the Asian countries would require alteration in the marketing approach, as the Asians are considered conservative (Articlebase, 2010). People skills would be necessary to compete in the Asian market. To expand in the Southeast, Qantas faces cultural challenges as Australia has low power distance while all Southeast Asian countries have high power distance (Hofstede, n.d.). Culture has a significant effect on problem-recognition, problem-solving and perception and cognition (Gilbe rt & Tsao, 2000). Such cultural differences can impact the satisfaction levels for the same product among global consumers. Opportunity The three most competitive travel markets in Southeast Asia include Thailand, Singapore and Malaysia (Chang & Cheng, 2005). In fact, the best performing airports in the ASEAN region are located in these three countries. Asia’s economic growth and the growing middle-class has helped fueled the growth of the airline industry. This segment continues to grow and provide expansion opportunities to the airlines. Asia is a highly dispersed continent and hence unlike UK and US, surface or rail transport across countries is not feasible. Air travel is the fastest mode of travel for business and leisure... This report approves that while Qantas enjoys its brand equity, it has been seeing profits fall over last several years. Expansion is the only solution and the target market should be the Southeast market, which it has ignored till recently. The opportunities in Southeast Asia are tremendous and Qantas should position itself as a full-service carrier and focus on product differentiation. It already operates a low-cost carrier, namely, Jetstar and hence should concentrate on FSC. Their image in Thailand was tarnished and hence they would need to project itself as a premium airline in all other Southeast Asian countries. Investments would have to be made in brand enhancement as well. Qantas intends using only narrow body aircrafts for the new carrier so that they do not have to fly to Europe. They also have decided to enter into partnership with Malaysian Airlines and they already have alignment with British Airways. This essay makes a conclusion that Qantas may have to apply flexible marketing strategies such as differential pricing, joint venture promotion campaign, multi-sales channel. Qantas has to use the hub as Singapore and focus on development new markets such as India and other nations, away from the Thailand, Hong Kong sectors. India is a promising destination and could also enhance the prospects of tourism for Australia. They could offer differential pricing and special offers for internet booking for developing new customers for added routes and even for their existing customers.

The Wonder of Art by Pablo Picasso Essay Example | Topics and Well Written Essays - 750 words

The Wonder of Art by Pablo Picasso - Essay Example The essay "The Wonder of Art by Pablo Picasso" investigates the creator of Cubism, Spanish artist, Pablo Picasso. As for his personal background, â€Å"Picasso, Pablo (Ruiz y) (1881-1973) Spanish expatriate painter, sculptor, printmaker, ceramicist, and stage designer, one of the greatest and most influential artists of the 20th century and the creator (with Georges Braque) of Cubism. For nearly 80 of his 91 years Picasso devoted himself to an artistic production that contributed significantly to and paralleled the whole development of modern art in the 20th century†. To observe the painting, it appears that Picasso used oil for this specific work, in that the color holds a different visual presence than that of acrylic, or watercolor. The image is of a dwelling of some sort, that is located in a garden. This observation can not only be garnered through reading the title of Picasso's work, but also looking deep into the canvas itself. By using different shades of green, Picass o seeks to show the deep variations of lush green landscape that lie within a garden. As for the house, that is alluded to by seeing the v-shaped structure and the presence of another structure above it, with this one having a roof on top of it. The lines within the artwork are curvy to show the distinct shape of the tree in the left hand side, the landscape below and the shrubs surrounding the house. To signify the house, the lines are more restricted and concise to show the continuity. The shapes that are to been seen would be of green leaves. ... The lighter bit of color in the top serves to show that the time of day would be dusk, close to sun down. The color of the sky is not bright, but rather tempered down to where it is not bright blue, but also not blackened by the night sky as of yet. There are complimentary colors used throughout the piece of artwork. Those colors are dark/light greens, browns, as well as black and cremes. The use of two different types of greens, is meant to show the changing variation that occurs within the garden and those things that live in it. The same bodes true for the differing shades of brown seen in the tree. The creme is shown to give a glimpse of, not just the sky itself at dusk, but also the structures within the garden. The black is meant to give differentiation between the structure itself and the roof that sits on top of it. It's also added to give a sense of shadowing to the domicile, further giving it dimension. The texture of the paint is applied very smoothly when it comes to showing the flow of the house, as well as what appears to be a fence below it. The paint application becomes more curved to show the shapes of the greenery surrounding the house and the tree inside the garden. The space of the work is very tightly held. The canvas is utilized completely by the artists rendering of a house that he saw within a garden. With size, the art looks to be used on a canvas that would have been approximately 16 inches x 20 inches in size. The placement of the house looks to be distorted in that its raised higher above the horizon line. This distortion is alluded to without seeing any form of ground below the structure itself. The emphasis is given to the richness of gardens and the things that reside

Case Study - Homeland Security Issue Essay Example | Topics and Well Written Essays - 2750 words

Case Study - Homeland Security Issue - Essay Example The suspected terrorist group is Al-Qaeda. The Anthrax terrorist attack occurred during 2001’s October and November months. Similarly, the airplane hijackings and murder of New York civilians occurred on September 11, 2001. Bin Laden announced to the world that he personally orchestrated the September 11, 2001 airplane attacks on two New York buildings. The problem includes the responsibility of the United States’ Homeland Security Agency to thwart future terrorist attacks, especially the biological weapon attacks. Description of the Subject. The subject focuses on the intricacies of the 2001 Anthrax biological attack. The 2001 Anthrax letter attacks included sending letters to the intended terror victims. The letters targeted individuals to create a statement. In turn, the subject includes the United States Homeland Security Agency’s role in reducing or stopping all future Anthrax and other biology-based attacks on the American people. Chronology of th e Case Study. Barry Schneider emphasized the United States Homeland Security Agency had to resolve the 2001 Anthrax bioterrorism attack (2004, p.2). After the recent September airline hijacking and attack, the Anthrax letters incident cropped up. The terrorist sent several letters to several intended victims within the United States. The letter senders sent the deadly envelopes through the United States post office. The letters contained a deadly chemical, Anthrax. Anthrax can easily kill the person opening the Anthrax-containing letters. Lynn Davis theorized â€Å"The September 11 attacks and the anthrax incidents that occurred in autumn 2001 clearly demonstrated to Americans that the possibility of becoming a victim of terrorism is very real. This new awareness has generated

Literature review on competitive advantage Essay

Literature review on competitive advantage - Essay Example The concept of competitive advantage has evolved over the past few decades and has now become an integral part of strategic management of any organization. Much research has been conducted on the attainment of competitive advantage and effective ways to sustain it. This literature review aims to explain the concept of competitive advantage in the light of different authors, along with their proposals of effective strategies to sustain it. Few examples have been chosen from the available literature to highlight the practical implementation of the concepts of competitive advantage. 2. Literature Review The concept of competitive advantage was introduced in the study of strategic management by Ansoff (1965). His ideas and propositions are known to form the basis of vital aspects of the development of growth strategy of any organization. Lowy and Hood (2004) quoted Ansoff (1965) and stated that his extensive experience and research in the field of diversification planning, highlighted re levant aspects and issues that should be considered for an effective growth strategy. Hindle (2008) also discussed the contributions of Ansoff and stated that some of the valuable contributions of Ansoff’s work in the field of strategic management are related to the attainment of competitive advantage and core competencies. Priemand and Butler (2001) pointed out that Ansoff’s work seemed to stress on the relevance of industry-based factors (threats and opportunities) more than the resource-based ones (weaknesses and strengths). Dix and Mathews (2002) provided a basis of strategy formulation and explained the attainment of competitive advantage; he stated that the development of strategic decisions involve the analysis of the core competencies and resources of the company. Prahalad and Hamel (2003) also considered the identification of core competencies as an important aspect of competitive advantage. The core competencies, that are unique and distinguishing from the co mpetitors, can serve to become the competitive advantage if they are availed in the presence of good opportunities in the market. The concept of competitive advantage was further researched upon by Porter (1998). Porter explained the formulation of a competitive strategy as the broad plan of how businesses should compete in the market (in the presence of various environmental factors) to meet their goals. It also involves the policies according to which goals and objectives of the organization can be met. Porter also stated that competitive advantage can be explained as the combination of having low expenses, differentiation value for the company and a strategy that enables the company to focus on their main objectives. Porter (1998) accumulated all the aspects that might be related to the attainment of competitive advantage onto a single page. He described it as the ‘Wheel of Competitive Strategy’. The underlying bases of the strategy are the basic goals that are aspir ed to be achieved by the company and the vision which is set as the main direction of the company. Various aspects on the rim of the wheel, like marketing, product line, finance and control etc have to be considered to attain competitive advantage in the market, while being influenced by the main vision of the company.

Time and Professionalism Essay Example for Free

Time and Professionalism Essay What is professionalism? There are many different forms of professionalism depending on whose opinion of professionalism it is. I will go with my opinion of professionalism. For the thirty years of my life I must say, I have learned a lot about my experiences in life. I’ve learned from myself, I have learned from my friends, and I have learned from mere strangers. I have seen people succeed in their goals. I have seen people fail in their goals. Failing doesn’t mean that you can’t try again. I believe we learn from our mistakes or if you possibly can, learn from others before you commit the same mistake. Well, I have come to a great conclusion. Professionalism plays a major, a very important role in succeeding in life despite of what goal you are trying to reach. To become a doctor there comes a need for a great amount of professionalism. To become a stockbroker, there is a need for people with nothing but a great mind and professionalism. Even to become a professional football player, despite of the great skills you may have to catch a 60 yard pass for a touchdown, there is still a great amount of professionalism expected from that professional wide receiver. Professionalism comes in many different aspects. The first most important aspect of being professional is the mere first image that you present yourself with. I say professionalism starts with your dress code and hygiene. The first detail you will put out to a person meeting you the first thing is that of how you are dressed. You should be dressed up for the occasion you are presenting yourself for. In an interview for example, a man should be dressed with a dark suit with a plain matching tie and decent shoes, also with his hair groomed. The second most important aspect of being professional is how you present yourself! Yes, you may be well groomed, with a perfect elegant suit but, if you do not have the perfect elegant professional attitude, the attire well, does not mean a thing. Professionalism plays a part in every characteristic of any person. So that being said, when being professional make sure you have the proper aura present. Make sure when you meet that important person that will decide your fate that you have a welcoming smile on your face. Make sure you present enough eye contact that you seem very much interested in what that person is trying to offer you and at the same time, not too much eye contact that it may come across to the other person that you are being maybe too cocky. Greet that person with a firm but not too firm handshake. Make sure that interviewer knows that you are comfortable and also make him or her feel just as comfortable. That is a big plus. Although I emphasized that the first impression you make to anyone will determine to the other person on what level your professionalism is to them. Do not forget that consistency is key to life. Yes, your first impression is big and will have a great impact on anyone. Anyone can have a great impression for one day. Can you do it on a daily basis? Can you maintain your characteristics of professionalism? Can you leave a great impression on people every day? This leads me to my third most important aspect of professionalism. Consistency! Although I put it at third most important does not mean that it is not as important as the first two. They play a role together as one. Consistency is big on every part of your personality, characteristic, and statistically. Are you prepared to be dressed professional at all times despite of whatever affair you may have? Are you willing to dress to the occasion? Are you prepared to have a great attitude and personality at all times, despite of what personal issues you may have? Can you keep that smile on your face and a positive attitude? Are you able to keep your good grades at all times? Are you able to have a 100% attendance? Can you show me 100% effort every day? Yes you have to have a great attitude and be dressed accordingly at all times but, can you do this 99. 9 percent of the time. This is what people look for in a professional. Someone they can rely on. There is one thing people tend to forget when talking about professionalism. Everyone has free personal time to enjoy their lively hood. There is no objecting to that. But do not forget that although you are on your own free personal time that there is not anyone watching you. As a famous musician once said, â€Å"the streets is watching†. There are always eyes on you if you are in a public place. You cannot everyday go to work and display a personality of professionalism, then go out to a club and be the worst most obnoxious person ever. Well you can. But I bet you didn’t see your assistant manager on the other side of that club watching you with astonishment! That one mistake may have cost you your whole chance of becoming the next person to being promoted in that company. That is why I say consistency is key. You cannot be professional in places where you think may only matter. Once you take a career that involves you being professional, you must always display that same amount of professionalism at all times. When you are at work, when you’re out at the park, when you’re at the movies, at a bar, anywhere you go you must be professional at all times. This does not mean you cannot have fun. You can have fun and be professional. Just as long as you present yourself in a respectable fashion. I personally will display all these aspects to my experiences in my future for my externship. I have learned a lot about myself and my experiences. I must admit. Most times I have not lived in a professional manner. I am now seeing things in different light. I am seeking the respect of a different group of people than in my past. I know that with all being said above. Without me living up to my knowledge and words I cannot succeed in my field of study so now it comes to that point that I will have to have a great output in my personality, my dress code, and I have to be consistent at all times. I have not been perfect, and I know no one is but I can only try! So after this report I will sit back and evaluate my little theory in professionalism and understand. I can’t only talk about it. I will be about it!!!!!

The History Of Goodmorning Vietnam Film Studies Essay

The History Of Goodmorning Vietnam Film Studies Essay Goooooooodmorning Vietnam! Ive seen the movie Good Morning Vietnam for my movie review. Good Morning Vietnam is a 1987 American comedy-drama. The film is written by Mitch Markowitz and directed by Barry Levinson. The film is set in Saigon during the Vietnam War. The movie is about a disc jockey, Adrian Cronauer (Robin Williams), who works at Armed Forces Radio Service (AFRS). This radio station appears hugely popular by the soldiers serving in South Vietnam. Adrians outrageous parodies and his rock music makes him popular, but hated by his immediate superiors. I think its a very nice film to see. and Ive seen the movie with a lot of pleasure. The movie Goodmorning Vietnam is filmed during the Vietnam War. The Vietnam War took place during the Cold War. The movie is set during the Vietnam war. We speak of the Cold War in the period from the second half of the 20th century. The Vietnam War occurred in the countries Cambodia, Laos and Vietnam, from November 1 1955 to the fall of Saigon that took place on April 30 1975. This war was the First Indochina war. It was the North Vietnam, who were supported by the communist against the government South Vietnam, who were supported by the United States and other anti-communist nations. The Viet Cong were the army of the Communist, who were placed in South Vietnam. The Vietnam war was largely a guerrilla war. Robin McLaurin Williams is an American actor and comedian. He is born at July 21, 1951. With his role as the alien Mork in the TV series Mork and Mindy and later with his stand-up comedy work, he became a famous actor. Williams has performed in al lot of films since 1980. He won the Academy Award for Best Supporting Actor for his performance in the film Good Will Hunting. Good morning Vietnam was a very important film in his career, because the most of his outrageous parodies were improvised by himself on the spot. In 1965, Airman Cronauer arrives in Saigon, during the Vietnam War, to work as a DJ for the Armed Forces Radio Service. Cronauers disrespectful behaviour contrasts with a lot off staff members and by his behaviour and other means of presentation, has he soon a conflict with his superiors. These superiors are Second Lieutenant Steven Hauk and Sergeant Major Dickerson. Hauk complies with rigorous Army guidelines in the field of sense of humor and music programming, while Dickerson is irritated by the behavior of Cronauers, but there are people who like Cronauers behaviour like Brigadier General Taylor and all the other DJs like the new man and his kind of humour more and more. Cronauers show consist of unpredictable humour mixed with news updates and rock and roll music that are hated by his superiors. Cronauer meets Trinh a Vietnamese girl. He followed her to her English class. The teacher let him take over the class. When the class ended, Cronauer tries to make contact with Trinh, but her older brother Taun stopped him, who tells Cronauer to leave her alone. Instead, Cronauer befriends with Taun and takes him to Jimmy Wahs, the local bar. Two older soldiers started a fight with the group that escalates into a big scenario. Dickerson states Cronauer responsible for this accident. Tuan is impressed of the DJs behaviour, so he arranged a date with Trinh, with the rest of the family, who chaperoning them. The news in Saigon is censored, but Cronauer locked the door of the studio and broadcasted it anyway. Dickerson ended the radio signal. Hauk replaces Cronauer, but his bad attempts at comedy and plays polka music rather than rock and roll, induce to a lot of letters and phone calls from soldiers who demand that Hauk must be removed and that Cronauer must be put back on the air. Cronauer can come back on the air, but he refuses to go back to work. During a traffic jam, Garlick and Cronauer are by a convey of soldiers. The soldiers persuade him to do an improvisation for them and he gives them a good laugh before they go off to fight in the field. It reminds Cronauer why his job is so important during the war and he is going back to work. Dickerson made up a conspiracy to blow up Cronauer by sending him to interview soldiers in the field, while Dickerson knows that the only road into this specific area is controlled by the Viet Cong. Cronauer doesnt show up by his English class and Tuan steals a car and drives off after them. Tuan finds them, but the car breaks down and they must stopped an Army helicopter that take them back to Saigon. At the station Dickerson tells Cronauer that his friend Tuan actually Phan Duc To is, a Viet Cong operative responsible for several bombing. He will be killed by the Army when they catch him. US Armed Forces members being friend with a Vietcong could be a serious problem for the United States Army. When Cronauer the next day on his way is to the airport, he sets up a softball game with the students from his English class. Garlick, who takes Cronauers place as DJ, plays a tape on the air the next morning after Cronauer is gone. The tape begins with a yell of Gooooooooooooodbye, Vietnam!. What spoken to me about the movie is that its based on a true story. There actually has been an Adrian Cronauer that broadcasted a radio show during the Vietnam War. His popularity and sense of humour werent exaggerated in the movie. I can imagine how important this show must have been for the American soldiers. Cronauer was their form of relaxation and amusement in the Vietnam War. I was also very impressed about the way Adrian (Robbin Williams) broadcasted his radio show. His sense of humour and quick reactions to the situation were amazing! This makes me appreciate Robbin Williams as an actor because of the fact that most of the radio scenes of the movie were totally improvised on the spot. I think the movie was also good because there was a deeper meaning in their description, in my opinion. This deeper meaning was in my opinion that Adrian found out that he was very important for the soldiers. I think that the radio during the Vietnam war very important was for the soldiers in t hat time, because it was the only thing were a bit of happiness took places.

Importance of Outdoor Recreation in Education

Importance of Outdoor Recreation in Education This essay is designed to have you explore the research around the goals and purposes of different approaches to outdoor learning. There is a significant body of learning theory that informs how people interpret and understand natural environments and it is essential that you familiarise yourself with this work. Some of the key approaches you should consider in your work include: adventure education, outdoor recreation, outdoor education, outdoor environmental education, environmental education, outdoor environmental studies, adventure therapy, and bush adventure therapy. My name is Steele Millroy and I am currently studying a Bachelor in Secondary Education at the University of the Sunshine Coast, majoring in Health and Physical Education (HPE), or as it may also be known, outdoor studies. HPE is an umbrella term for many varieties of outdoor educational teaching practices. These include outdoor recreation, outdoor education, adventure therapy and outdoor environmental education. The two that I would like to focus on for this essay are outdoor recreation and outdoor education. I believe these two have the biggest impact on my career area, while still being effective even within the limitations the classroom provides. Today, when we hear outdoor recreation, it is often associated with the term leisure or leisure activities (Martin, Cashell, Wagstaff, Breunig, 2006). Outdoor recreation is defined to be an active side of leisure that transpires in a natural setting such as a mountain, lake or field (Martin et al, 2006). Being actively immersed in these outdoor locations can have a profound effect on the way people view their environment. It can change a persons perspective of the way we use, understand and appreciate the natural environment (Martin et al, 2006). As a person begins to use their environment for recreation, it starts off as just another piece of equipment for them to use, but as they return to the same spots repeatedly, it can become like an old friend. A person will notice more and more detail about the environment as it will become more familiar to them. They develop a deeper appreciation for landscape and everything it has to offer. Outdoor Recreation now has become increasingly po pular since the 1950s due to the prosperity of western countries and their increase in leisure time (Martin et al, 2006). This also lead to areas that previously had been relatively unknown becoming popular activity spots and in doing so has had a detrimental effect in some natural areas (Martin et al, 2006). In America, this concern led to the first significant study done by the Outdoor Recreation Resource Review Commission (ORRRC), which was to assess the state of outdoor recreation in America and make suggestions on its future development (Martin et al, 2006). These suggestions by ORRRC have led to the Outdoor Recreation Act of 1963 and the Land and Water Conservation Fund Act of 1965 (Martin et al, 2006). These acts have helped reduce the impact humans have on natural recreation areas and help improve those areas for the future. Examples of the natural areas that we use for recreation are things like hiking trails, rivers or streams that we kayak on, mountains for climbing or ev en an open field for a game of football or cricket. In summation outdoor recreation is a great way for humans to become more involved in nature, but we must become educated in a way that ensures us we are not doing damage to the places we love. A way to keep humans educated with how our environment works and why we need it is through Outdoor Education. Outdoor Education is broadly defined as the philosophy of learning by doing (Priest Gass, 1997). The term Outdoor Education covers two main subjects of Environmental Education and Adventure Education (Martin et al, 2006). In Environmental Education the emphasis of learning is placed between people and their natural environment and natural resources (Priest Gass, 1997). Adventure Education focuses on interpersonal growth through the opportunities that adventure experiences can give to us (Martin et al, 2006). Adventure Education is often done with a group of people that will have to work together to complete a certain task. This provides them with a personal challenge while still have to use skills such as decision making, communication, cooperation and most of all they learn to trust each other (Priest Gass, 1997). The educator who is running the challenge structures it in such a way that the risk is perceived to be much higher than it truly is. This gives more opportunity for the participants to hit their peak adventure point while still being challenged to grow and change (Priest Gass, 1997). Examples of this type of education would be a rope course where your team must all pass together or a navigation exercise where your team is left some basic equipment and you are dropped off in an area you dont know. This navigation exercise can be very beneficial as it can seem like the risks are very high (when it is just your group and their survival skills), but in truth the guides who dropped you there would know the area extremely well and can remove you at any time if the situation calls for it. With this adventure education you must then become involved with environmental education for without knowing about the environment we could lose the nature and beauty that we all love about adventure education (Priest Gass, 1997). Environmental education can b e parted into two segments: ecosystemic relationships and ekistic relationships (Martin et al, 2006). Ecosystemic relationships refer to independent organisms living in the ecosystem, whereas ekistic relationships refer to the interactions between people and the environment, or how we treat our ecosystem, and in turn, how that will affect us (Martin et al, 2006). An example of this relationship would be humans polluting a river or lake, then in turn having no fresh water to drink. In this relationship, if we take care of that specific environment, it will in turn take care of us. Outdoor education is a very important tool for us to understand each other and our natural environment. Both outdoor recreation and outdoor education are important to me being a HPE teacher. Outdoor recreation is one of the big examples of being a HPE teacher. Since all schools will not have the same funding for their sporting programs, the ability to go outside and create a game or activity, that uses the natural landscapes around us, are vitally important. Doing this will show the students how to use the land respectfully and in turn can be woven into a lesson of Environmental Education. The benefits of using outdoor recreation as a learning tool are that it can be very cost effective, the games can be played by the students at home without much equipment and the students begin to appreciate the natural environment and getting immersed within it. Outdoor education can work well alongside outdoor recreation. I believe that they complement each other well. In recreation, they can make relationships to a place while in outdoor education they learn why that relationship is so important. During my career as a HPE teacher I will also be endeavouring to use Adventure Education. I believe that using Adventure Education in a class setting as it can strengthen the class as a whole and make different friendship circles communicate with each other. A challenge for me will be providing such a challenge in a school setting that seems high risk even when it isnt. A possible way around this would be a day trip somewhere if the school budget allows it. When we are not doing practical classes and are in the classroom, that is when I will begin to teach the students about ecosystemic and ekistic relationships. These are both important pieces to the outdoor education puzzle as they teach the students how we can impact one little organism and then how that can impact the ecosystem as a whole. In that past there has been some debate on whether all this should be taught in a HPE classroom, but I agree with L. B. Sharp (cited in Ewert Sibthorp, 2014) when he said those things which c an best be taught outdoors should there be taught (p. 6). These disciplines of outdoor recreation and outdoor education will be a great tool and asset to the modern HPE classroom. Getting the students involved in the outdoors and playing games is a great way to keep their attention while we teach them how to respect it. When students form their own relationships with a place, that is when they truly start to understand the importance of nature. Doing this through outdoor recreation and outdoor education is an effective and affordable way to achieve this goal. References Ewert, A. W., Sibthorp, J. (2014). Outdoor adventure education: foundations, theory, and research. Champaign, IL: Human Kinetics. Martin, B., Cashel, C., Wagstaff, M., Bruenig, M. (2006). Outdoor leadership: theory and practice. Journal of Education and Outdoor Learning, 8, 3-12. Priest, S., Gass, M. A. (1997). Effective leadership in adventure programming. Palaestra, 22, 17-26.

The Economic System of Slavery: As Told in A Respectable Trade and Amis

The Economic System of Slavery: As Told in A Respectable Trade and Amistad The economic system of slavery is an all-encompassing system that effects the mentalities of all who participate in the system. People in a slave society are shaped differently than people influenced by other economic systems, as this system classifies people as property, inherently going against all aspects of human nature. We see how slavery has come to shape individuals, and indeed, entire societies both in Amistad and A Respectable Trade. In these films arise the themes of economic value of different systems of slavery as well as themes of the morality of the slave trade and the devaluation of human dignity and liberty. While the two films portray vastly different contexts in which slavery exists, they have in common the struggles between profitable economic systems of the times and the social evaluations of these economic institutions. In a slave society, there exists a control over productive resources by a specific subset of society. That is to say, the wealth of the economy is largely concentrated in the hands of a few. In a slave system, control over productive resources specifically means control over people, as it is the slaves in this economic system who are the resources, or whose labor is responsible for producing the resources. In the film Amistad, the production done by slaves is clearly delineated by the work they do on the plantations, as we do not see slave labor in the domestic realm as a prominent feature of this society. The Africans captured by their fellow countrymen are defined as property, as chattel, as soon as they set foot on the slave-trading vessels. Thus, within the system of slavery we see that huma... ...he situation, as the British begin to see that the slave trade is not as lucrative as industry could be. The abolition of slavery in England, therefore, is not so much influenced by morality as it is by money. Even though Amistad and A Respectable Trade vary in their depiction of the economic system of slavery (domestic servitude versus plantation labor), they share commonalities in their depiction of the overwhelmind grip that slavery had on societies. Slavery was as much a cultural system as it was an economic system, because it shaped all who participated in the system; the Africans forced into the system, the masters that owned people as chattel, and even those who opposed the system altogether. Slavery is an economic system that involves decisions of the conscience and the fundamentals of human nature, possibly more so tah any other economic system.

Essay --

In the 1950s, space exploration represented the epitome of human scientific achievement. However, beginning in the 1970s, long-term goals of space exploration were shelved in favor of smaller projects that kept astronauts closer to Earth. Throughout the years, advocates have pushed for a return to space exploration, noting that valuable discoveries and technological advancements would likely emerge from such a program. In 2011, the United States ended its space shuttle program. While other countries such as China and Russia continue to expand their space programs today, American space exploration has been put to a halt. Many Americans believe that the United States space program requires a huge chunk of government funding. In reality, NASA (National Aeronautics and Space Administration) spending typically comprises of less than one percent of the federal government's budget ("Space Exploration"). Many Americans have called for an end to government-funded space exploration because they feel like the space program does not offer any benefits to the average citizen and that the money would be better spent on Earth-based efforts to improve the nation ("Space Exploration"). What if by traveling to space and exploring the unknown territory, we in fact improve our nation? What if Mars is capable of sustaining life? What if the cure for cancer is lying beneath the surface of a planet? If space exploration remains halted, there might be many questions left unanswered. In 2004, President George W. Bush announced the end of the US space shuttle program in 2010. He planned to replace it with a space program named Constellation, which aimed to return Americans to the moon to do more research and to tap into that body's frozen water for mak... ...chael Lind, an author and policy director at the New America Foundation, said: When the Apollo astronauts landed on the moon, many assumed that this was the first step toward the permanent colonization of the moon and journeys by astronauts to other planets. From today's perspective, though, the space race was like the races to the North Pole and the South Pole. Once explorers had reached those destinations, the world lost interest. Space exploration is something that is extremely important to the future of our nation. Leaving space undiscovered would leave many questions unanswered. The solution to many of our nation's problems could be found in space, but Americans will never know unless space exploration continues to be successful. If the government no longer wants to fund a space program, space exploration should become privatized so that progress can be made. Essay -- In the 1950s, space exploration represented the epitome of human scientific achievement. However, beginning in the 1970s, long-term goals of space exploration were shelved in favor of smaller projects that kept astronauts closer to Earth. Throughout the years, advocates have pushed for a return to space exploration, noting that valuable discoveries and technological advancements would likely emerge from such a program. In 2011, the United States ended its space shuttle program. While other countries such as China and Russia continue to expand their space programs today, American space exploration has been put to a halt. Many Americans believe that the United States space program requires a huge chunk of government funding. In reality, NASA (National Aeronautics and Space Administration) spending typically comprises of less than one percent of the federal government's budget ("Space Exploration"). Many Americans have called for an end to government-funded space exploration because they feel like the space program does not offer any benefits to the average citizen and that the money would be better spent on Earth-based efforts to improve the nation ("Space Exploration"). What if by traveling to space and exploring the unknown territory, we in fact improve our nation? What if Mars is capable of sustaining life? What if the cure for cancer is lying beneath the surface of a planet? If space exploration remains halted, there might be many questions left unanswered. In 2004, President George W. Bush announced the end of the US space shuttle program in 2010. He planned to replace it with a space program named Constellation, which aimed to return Americans to the moon to do more research and to tap into that body's frozen water for mak... ...chael Lind, an author and policy director at the New America Foundation, said: When the Apollo astronauts landed on the moon, many assumed that this was the first step toward the permanent colonization of the moon and journeys by astronauts to other planets. From today's perspective, though, the space race was like the races to the North Pole and the South Pole. Once explorers had reached those destinations, the world lost interest. Space exploration is something that is extremely important to the future of our nation. Leaving space undiscovered would leave many questions unanswered. The solution to many of our nation's problems could be found in space, but Americans will never know unless space exploration continues to be successful. If the government no longer wants to fund a space program, space exploration should become privatized so that progress can be made.

Internal and external factors effecting the cost position Essay

The increased imports of the European as well as the Japanese make of automobiles in the United States significantly impacted the demand of the automobiles manufactured by the US manufacturers. â€Å"Imports of sub-compact cars from Europe and Japan rose steadily in the 1950s, often as families’ second cars but US manufacturers retained their hold on the lucrative markets for larger vehicles. † (French, 1997, p142) The US manufactures saw their market shrink as the more aware and price conscious consumers shifted to the European and Japanese counter parts for their automobiles, while the US manufacturers were left with making large, excessive fuel consuming vehicles that denoted social status and personal style. Aside from this the increasing prices of crude oil in the international market in the 1970s also significantly changed the demand of the automobiles as depicted by the consumers. â€Å"A crisis in the US car-market developed as a result of sudden unforeseen shifts in the general environment which allowed overseas producers to expand market share rapidly. New car sales faltered in the 1970s and excess capacity increased. At the same time the leap in fuel prices shifted the consumer preference towards smaller, more fuel efficient cars which Japanese and European makers already supplied in their domestic markets and were better able to produce that were the US manufacturers used to making larger, more up-market ‘gas-guzzlers’† (French, 1997, p142) The automobiles of French and Japanese make were smaller, more fuel efficient as well as more stylish yet cheaper than the those manufactured by the big three US automobile manufactures. As a result the consumers opted for purchasing the imported cars instead of those manufactured by the Unites States manufacturers. The recession of the 1970s also further reduced the disposal income and the propensity to save for the people in the United States which made purchasing the imported European and Japanese models of automobiles much more attractive to the consumers instead of opting for those models manufactured by the big three US automobile manufacturers. In the same period the perception of the consumers also significantly changed as was marked by the baby boomer generation and the hippy era. In this period, the consumer became more aware of the environment, the increasing pollution and the contribution that automobiles made towards adding to the pollution levels. As a result the consumers started to look for cheaper alternatives of travel and those which were more environmental friendly that the vehicles manufactured by the big three US automobile manufacturers. The internal factors that contributed to the changing cost position of the Bridgestone Industries, specifically at the plant pertained to the decreasing demand of the US manufactured cars and increased demand for cheaper cars that was reflected un the restricting cost based purchases being made by the big three manufactures form the Bridgestone Industries. As the volume of sales decreased for Bridgestone Industries, along with the margin for profits on sales made due to the rising overhead costs the cost position of the Bridgestone Industries significantly changed to become negative and resulted in the closing of the automotive component and fabrication facility by the Bridgestone Industries. Overhead Burden Rate The Bridgestone Industries had a specific method for determining the overhead burden rate for the products that was proposed and set on an annual basis. â€Å"The budgeted unit costs provided by the plant for the 1987 model year study included overhead (burden) applied to products as a percentage of direct labor dollar cost. The overhead percentage was calculated at the budget time and used throughout the model year to allocate overhead to products using a single overhead pool. The overhead rate used in the study was 435% of direct labor cost† (Patricia & Cooper, 1993) The following table depicts the overhead burden rate for the years starting 1987 through to 1990. Overhead Burden Rate (‘000) 1987 1988 1989 1990 Total Overheads 107,954 109,890 78,157 79,393 Total Direct Labor Dollar Cost 24,682 25,294 13,537 14,102 Overhead Burden Rate 437 434 577 562 The analysis of the overhead burden that was determined for the years, 1987, 1988, 1989 and 1990 showed that the total over heads increased from 1987 to 1988. However in 1989, there was a drop in the overhead level as the muffler exhausts and the oil pan based product lines were merged with the other three product lines. This reduced the overheads significantly. In 1990 however the trend shows that the overheads for the Bridgestone Industries increased again on an annual basis. The direct labor dollar cost showed a similar trend as well reflecting the increasing expenses along with the effect that the closure of the muffler/exhaust and oil pan lines had on the labor cost. The overhead burden rate that was determined pertained to approximately 437 percent in 1987, 434 percent in 1988, 577 percent in 1989 and 562 percent in 1990. The following table depicts the overhead burden shared by the respective product lines at the Bridgestone Industries for the years starting 1987 through to 1990. Overhead Burden Share per Product Line (‘000) Overhead Burden 1987 1988 1989 1990 Fuel Tanks 18,234. 35 18,412. 03 25,490. 37 25,891. 96 Manifolds 25,744. 16 26,184. 35 36,246. 56 36,819. 62 Doors 11,463. 72 11,864. 85 16,420. 07 16,681. 43 Mufflers/Exhausts 24,646. 33 25,050. 44 0 0 Oil Pans 27,865. 45 28,378. 33 0 0 107,954 109,890 78,157 79,393 The overheads shared by the respective product lines also depicted significant change in the years from 1987 to 1990. On average the oil pans product line had the largest overheads allocated to its while the product line for the front and rear doors had the lowest overhead levels for the years 1987 and 1988. When the product lines were merged in 1989, the manifolds product line had the largest level of overheads allocated to it, while the product line for front and rear doors had the lowest level of overheads assigned to it. On a year to year basis, the overhead burden level has decreased by a small gradual percentage over the four years highlighted. This is not due to the fact that the overheads for the company have been decreasing; instead this has occurred due to the fact that the dollar cost of the direct labor has incrementally increased over the four year period as well resulting in the decrease in the overhead burden rate.

How Does Hill Create a Sense of Isolation in the Woman in Black

The Woman in Black (TWIB) is a business relationship well-nigh disjunct people in an insulate place. Not least TWIB before she died. Janet Humfrye was isolated by her plight as a mother of an illegitimate child, which was frowned upon by golf-club in the early 20th snow when the story is set. Even the towns people of Crithin Gifford were isolated on the marshes and almost depict as though they lived in another dimension, another part of the realism set apart from the rest of society. The nose out of closing off runs like a cheat on right by dint of the whole book. heap does this by creating vivid pictures in the endorsers mind.She uses detailed interpretations or resource with frequent use of allegory, simili and personification techniques. She also uses short and effective phrases with repetition of words to help manufacture the impact of the descriptions on the reader. knoll was a big lover of Dickens who also used this technique. heap begins the story by descr ibing the central subject Kipps as a bit of a recluse nutriment at Monks piece. She turns the story a full circle and finishes in the same place when Kipps has recounted the story of what happened to him in the marshes. The very name Monks paper conjures up a reclusive monk living only when.Kipps has been living a quiet solitudinarian like existence since buying Monks Piece in his middle age. Kipps describes himself as needing privacy in order to cope with his feelings. He describes himself as a sombre brainsick complexioned man with a strained nerve and no taste at each(prenominal) for social life. This is in stark argumentation to his former self as the girlish Arthur Kipps who was keen, c atomic number 18 free, innocent, ambitious and full of energy. The descriptions of Alice Drablow (AD) in a London Particular by Bentley give the impression of a nongregarious isolated woman.She is expound as a comic un by Bentley and lived like a recluse at Eel fenland dramatic ar t when she was alive. Her only family lived abroad in India and had do so for 40 years. She is described as having no friends or neighbours, her mansionhold was a few miles from the nearest town. Living at that place said Mr Bentley thoughtfully, allone might become rum. In the journeying North, Arthur KIpps (AK) expresses his find of closing off when the branch line train to Crithin Gifford has stop to wait for a passing train. I tried not to respectable touch but was feeling an unpleasant wiz of being isolated, far from any humankind house and trapped in this shabby tomb of a rail means carriage. present heap has used a metaphor by describing the train carriage as a cold tomb which gives a mind of forboding and forshadowing of death as well as isolation. The sighting s of TWIB at the funeral gives a picture of a sole(a) isolated figure. She appears and disappears without trace and stands away from the proceedings. The expatiate of her appearance by Kipps also gibes to this find of her isolation. only the thinnest layer of flesh was tautly stretched and strained crossways her face. In across the Causeway Hill uses the effect of hearty throughout the chapter to create a nose out of splendour and Isolation. The only sounds I could take in above the trotting of the ponys hooves and the grumbling of the wheels and the creek of the cart were sudden uncut weird cries from birds near and far. Kipps description of his journey across the Causeway adds to a sense of isolation. Emptiness stretching for miles, the sense of space, the splendour of the sky above, passing no do work or cottage, no kind of dwelling house at all in three miles.All was emptiness. The description of Eel fenland house also adds to a sense of isolation. set about the whole wide expanse of Marsh and Estuary. Isolated, uncompromising but also hand round. Kipps feels kind of a whole when he arrives at EM house. Certainly I matt-up retirement I felt sooner al one outside that gaunt empty house. Hills use of repetition in short phrases helps the reader to em caterpillar treadise with the feelings of Kipps. only for today I had had exuberant. Enough of the retirement and no sound, save the water and the moaning horn in and the melancholy watchwords of the birds, enough of the monotonous greyness, enough of this gloomy old house. This all helps to add to a sense of the gentle wind and isolation that Kipps feels. When Kipps sets out on the causeway path back to Crithin Gifford he remarks, I had never been quite so alone, nor felt quite so small and insignifi send wordt in a vast landscape. At this stage he is unaware that in transactions he will be shrouded in mist so that he can no longer foregather the house behind him or indeed see the path in front. Hill uses tomography throughout the book to create atmosphere, tensity and vivid pictures in the readers mind. In the lope & Trap chapter she describes the descending mist. Like a damp clinging cobwebby thing. She writes I felt confused by it, teased by it, as though it were made up of millions of live fingers that crept over me, hung on to me and shifted again. This makes it sound to the reader as though it were a live creature attacking Kipps. This adds to the tension, atmosphere and isolation that Kipps feels. He is far from anywhere and there is no one to call out to. Although Hill tells the story through the eyes of Kipps the central character ( or protagonist) in the book she is able to create a further sense of isolation through the use of dialogue in the midst of Kipps and the other characters.Kipps is made to feel alone and isolated in the task of Eel Marsh house and sorting ADs affairs, by the responses he gets from the people of Crithin Gifford. more were too terrified to get knotted or even speak of TWIB or EMH. When Kipps for example asks Mr Jerome for the papers he replies, thither is no one. I am quite on my own. I cannot give you any he lp at all. This dialogue helps to guide out the feelings of other characters and in this trip Mr Jeromes extreme fear of acquire involved.For me the most isolated figure described in the book is Jannet Humfrye who when alive not only was isolated by her tragic situation but, the fact that she had developed a terrible wasting disease. The flesh had shrunk from her swot up and she looked like a walking skeleton, a living spectre. Daily remarks to Kipps in a Packet of Letters, When she went about the streets people displace back. As a ghost she appears several(prenominal) times in the book, but in particular when she is first seen by Kipps the description of her is quite sympathetic compared with the evil described in further appearences.Despite her malevolent lifespan we cannot help but feel some sympathy and sadness for her terrible plight. Hill balances our feelings towards her by telling her story through kipps dialogue with Daily. Almost every foliate of the book is fill ed with vivid descriptive writing about characters, places and the weather. By creating a sense of isolation in this way Hill adds to the tension, the fear, the atmosphere and keeps the reader in suspense right the way through. By telling the story through Kipps we are drawn in to the rise and determine of his emotions. The reader effectively feels his fear, his tension and his sense of isolation. By Lucy Roberts

Marriott Corporation: The Cost of Capital

In April 1988, Dan Cohrs, vice pre positionnt of assure finance at the Marriott mountain, was preparing his annual recommendations for the vault score at for for each one one of the firms deuce-ace fragments. Investment sheds at Marriott were selected by discounting the discriminate cash flows by the appropriate overleap evaluate for each portion. In 1987, Marriotts sales grew by 24% and its re contort on paleness stood at 22%. gross r until straightue and mesh per share had doubled on the whole over the previous four years, and the operating scheme was goed at continuing this trend.Marriotts 1987 annual plow stated We intend to remain a premier maturement comp both. This instrument acutely developing appropriate opportunities within our chosen lines of business populate, contract go, and related businesses. In each of these areas our goal is to be the best-loved employer, the preferred provider, and the more than(prenominal) or less profitable company . Mr. Cohrs acknowledge that the naval divisional burial vault treads at Marriott would subscribe to a significant nucleus on the firms monetary and operating st arraygies.As a rule of thumb, increasing the bank vault lay by 1% (for example, from 12% to 12. 12%), simplifications the record economic lever of project inflows by 1%. Beca mapping constitutes remained almost fit(p), these changes in the value of inflows translated into changes in the utmost present value of projects . Figure A shows the substantial effect of hurdle come bug outs on the anticipated net present value of projects. If hurdle strides were to accession, Marriotts growth would be reduced as erstwhile profitable projects no daylong met the hurdle ranges.Alternatively, if hurdle roams decreased, Marriotts growth would accelerate. Marriott alike considered utilize the hurdle rates to baffle incentive payment. Annual incentive compensation constituted a significant dower of total comp ensation, ranging from 30% to 50% of make pay. Criteria for bonus awards depended on specific labor responsibilities but often included the earnings level, the ability of managers to meet budgets, and boilersuit collective per constituteance.There was some raise, however, in basing the incentive compensation, in part, on a parity of the divisional relapse on net assets and the trade-based divisional hurdle rate. The compensation curriculum would therefore reflect hurdle rates, reservation managers more sensitive to Marriotts pecuniary schema and working superior market conditions. Professor Richard Ruback b pretend this contingency as the basis for club discussion rather than to illustrate both effective or ineffective handling of an administrative situation.Copyright 1998 by the chair and Fellows of Harvard College. To tell apart copies or request authorization to reproduce materials, call 1-800-545-7685, write Harvard art School Publishing, Boston, MA 02163 , or go to http//www. hbsp. harvard. edu. No part of this publication whitethorn be reproduced, stored in a retrieval system, used in a spread rag week, or transmitted in any form or by any meanselectronic, mechanical, photocopying, recording, or otherwisewithout the permi ssion of Harvard Business School.Marriott Corporation the be of detonator1. How does Marriott use its number of its salute of uppercase? Does this make awareness? Marriott has delimitate a clear financial strategy containing four elements. To de enclosureine the represent of roof, which also acted as hurdle rate for investment funds decision, appeal of not bad(p) envisions were generated from each of the tercet business divisions living accommodations, contract services and eaterys. Each division aims its hail of bully based on Debt Capacity greet of Debt Cost of EquityAll of the in a high place are take aimd individually for each of the common chord divisions, and this is a critical aspect delinquent to the vary cost of debt in particular for each division. Marriott then auspicate company total cost of cap victimization plodding reasonable of the individual divisions cost of capital. This is a very clever admission, particularly as we envision that for example the lodging unit, has a 74% debt theatrical role in the capital social organisation, and the fact that Marriott use long full term cost of debt for lodging (which in this case is close to Government debt 110 bits per game margin) demonstrates the low jeopardize investors perceive this side of the business to dumb openWe conceptualize this admittance is debateing(a) repayable to the dissimilarity in the cost of capital amongst the divisions being a function of the bump associated with the investments considered so this approach in corporates the fact that lay on the line between the divisions varies. presumption this we recollect the method chosen by Marriott is compliant with the Marr iott Financial Strategy as the capital costing approach is collect diligent and reflect the single entity fortune (bottom-up) rather than an estimated top-down.We believe this approach enables Marriott to perfect the financial performance and in turn step-up the shareholder value. 2. If Marriott used a single corporate hurdle rate for evaluating investment opportunities in each of its lines of business, what would come crosswise to the company over judgment of conviction? Marriotts three divisions are very unalike in ground of business area, business gamble and capital bodily structure (debt capacity). The result is varying capital costs between the divisions. For object lesson Lodging has a significant unhorse cost of capital (WACC) than the Restaurant and even than the company as a whole. victimisation a single company- grand hurdle rate would crap an uneven process in assessing investment opportunities across the divisions. In practical terms the accept/ disclaim dec ision would not reflect the inherent business endangerment of the division, which could lead to investments being accepted, while they should have been rejected. Given the WACC computations in the following dubietys, we fix there is a significant difference in the cost of capital between the different divisions varying from 8. 85% (Lodging) to 12. 11% (Restaurants)Therefore, if we were to use one single corporate hurdle rate, we would assume in this represent that we would use the Marriott WACC of 10. 01%, then we whitethorn reject an investment in Lodging which would egress a positive NPV and vice versa, we may accept an investment opportunities in Restaurants which dominancely would yield a negative NPV. overtaking back to the brief, we know that typically an increase in hurdle rate of 1% ordain decrease present value of project inflows by 1%. If we were to then use one hurdle rate (10. 1%) and take the lodging hurdle rate (8. 85%) this would be an increase in WACC of 13. 10% (lodging) and would therefore decrease PV of project inflows by the identical 13. 10% so the effect of using a single rate is compounded, firstly it impacts the decision, and the PV cod to the discount impact. Over time a single hurdle rate (if consistently higher than the existing approach) would significantly appall the performance of company as the approach could lead Marriott to reject (or accept) investment opportunities which should have been accepted (or rejected).This would destroy shareholder value. 3. What is Marriotts incubused Average Cost of Capital? What types of investments would you value using Marriotts WACC? To calculate Marriotts WACC, we lead to assess three factors 1) Capital structure, 2) Cost of debt, 3) Cost of Equity. As the corporate impose revenue enhancement revenue rate is condition we get out not manually calculate it. If required we would have used the financial statement in appendix 1 to do so.After having calculated the three factors mentioned above we employ the following prescript to beget WACC WACC = (1-t)*rD*(D/V) + rE*(E/V) where Re = After tax cost of fairness, Rd = pre tax cost of debt, E = market value of the firms justice, D = market value of the firms debt, V = E + D = firm value, E/V = percentage of financial backing that is honor, D/V = percentage of support that is debt and t = corporate tax rate. 1) Capital Structure We buzz off the capital structure in disconcert A on page 4 in the case. As the debt percentage in capital D/V in the WACC command is presumption we find the equity percentage in capital (E/V) as E/V= 1 D/V. victimisation this we gather Marriott is funded using 60% debt and 40% equity. We do realize the info in Table A is the rear-leverage ratio, but we are cosy using the target capital structure for this figure instead of the current capital structure. 2) Cost of Debt The cost of debt is mathematically defined as Cost of Debt = (1-t) rD, where rD is the rate for pr etax cost of debt and (1-t) represents the tax shield via the corporate tax rate. In the following rD is calculated, while the tax shield is not included until the utmost WACC calculation.Marriotts debt was divided into two different fractions float rate and primed(p) rate. 40% of Marriotts debt was floating rate where the interest rate payment changes with changes in the market interest rates, while 60% was fixed rate. The case gives a debt rate allowance above government, but culture about term structure or other features of the floating debt are limited. We believe the correct way to estimate the cost of debt is to estimate the cost per debt type/segment and then in a second step weigh the costs using the debt structure.To do this we estimate that the floating debt rate is best estimated using the 1yr government rate in Table B for the reason that we do not have any shorter term entropy or average, and this most closely would represent floating. While for the fixed debt p ortion we have selected the 10yr government rate. Again, this is collect to a mix of long term and shorter term fixed debit. This is the best speculation we can take using the entropy provided. Given the above the cost of debt of Marriott is Average((1yr Gov. ate)*(Floating debt fraction) + (10yr Gov. rate)*(Fixed Debt Fraction)) + Debt commit Premium Above Government Average((6. 90%)(40%) + (8. 72%)(60%)) +1. 30% = 9. 29% 3) Cost of Equity Cost of Equity is found using the Capital Asset price Model (CAPM) or rE = RF+ ? i(ERM RF), Where rF is the hazard free rate we estimated earlier, ? is the systematic risk or the overall risk factor and (ERM RF) is the price of risk or market risk gift (MRP) investors expect over and above what the risk free securities yield.To be consistent in selecting expected market come and the risk free rate, we have selected to use the akin time period for both estimates. Using prove 4 and 5 we find the appropriate data. We take the longest tim e period available as we believe this is the conservative method as outliers in the data is crowded out due to the law of large numbers, which increases the empirical luck of accuracy. Given this we have selected 1926-87 average returns of the long U. S government bond as the risk free rate (RF) thence RF is 4. 58%. (Exhibit 4).The MRP is estimated using Exhibit 5, where we use the S excess return over the long term U. S government bond over the comparable time period as the risk insurance premium (ERM RF) = MRP = 7. 43%. S is chosen as the market return as the stock index represents a wide and diversified range of equity across different sectors and industries. Given this we believe it is good to use the S excess return over the risk free rate as the market risk premium (MRP) To find the ? we need to adjust the equity ? given in Exhibit 3 as it reflects the current capital structure and not the target structure.To re-calculate in order for the ? to reflect the Marriott target capital structure, we first calculate the unleveraged ? and then re-leverage it with the target capital structure. The unleveraged ? is calculated using Unlevered ? = Equity ? / (1 + (1 t) x (Debt/Equity)). As all data is given in Exhibit 3, we find unleveraged ? = 0. 7610. ( line up comminuted calculations in stand out sheet low tab Exhibit 3). To re-leverage the data we re-write the formula Equity ? = Unlevered ? * (1 + (1 Tc) x (Debt/Equity)) = 0. 7610 *(1+(1-34%)*(60%/(1-60%)) = 1. 514.We now have all the data need to calculate the cost of equity rE = RF + ? (ERM RF ) 4. 58%+ 1. 514(7. 43) =15. 83%. Finally we find WACC by employing the formula WACC = E/V ? rE + D/V ? rD ? (1 t) 40%*15. 83% + 60% *(9. 29%(1-34%)) = 10. 01%. Please find all detailed calculations in the attracted excel sheet under tab Table A. We would value an investment of similar risk, which would reach out us a return higher than the WACC of 10. 01%, as anything over and above this in terms of return would be adding value as the present value of the emerging cash flows in that case would be positive.In otherwords, we could use WACC as our discount rate and hurdle rate to calculate NPV of potential investment projects of physical asset, where it is expected the financing will be similar to the financing of the company conducting the investment. 4. What is the cost of capital for the lodging and restaurant divisions? The WACC calculation methodology is the same for the divisions as the calculations under question 3. notwithstanding the inputs are changed to mirror the attributes and characteristics of the divisions.Please also see excel spreadsheet included within this compliance for breakdown of the calculations. Lodging Cost of debt For the calculations of the fixed rate debt, we are using the 30 year government bond rate instead of the 10 year. This is a materialisation of the comments in the case about the longer durability of the asset and longer financing. For the floatin g leg of the debt, we continue to use the 1 year government bond rate. rD = Average((1year US (Table B)*Fraction of Floating Debt + 30 course of study US*Fraction of Fixed Debt) + 1. 10% rD = Average((6. 90%*50% + 8. 5%*50%) + 1. 10% = 9. 03% Cost of equity To be consistent we opt for the long-term securities and long-dated data just as we did when calculation the cost of equity in question 3. As for the ? we use the partner assembly as presented in Exhibit 3. therefore to find the unleveraged beta, we take the average of the equity ? s of the peer group the average debt/equity ratio. After having calculated the unleveraged ? , we re-leverage using the target capital structure of the lodging division. We realize the limitations of using same companies to estimate the ? nd understand the criticality of delimitate the right peer group of comparable companies. We could most likely have change magnitude the accuracy of our calculations by being more due diligent in the pick to f ind companies that were a closer barrack to the Lodging (and restaurant) division. However, for the purpose of the calculations in this case, we use the peer group defined in the exhibit. Restaurants Cost of debt For the calculations of the fixed rate debt the 10 year government bond is used. rD = Average((1year US (Table B)*Fraction of Floating Debt + 10 division US*Fraction of Fixed Debt) + 1. 10% D = Average((6. 90%*25% + 8. 72%*75%) + 1. 10% = 10. 07% Cost of equity To reflect the shorter nature of the assets in the restaurant business division, we use short-term securities to estimate the risk free rate and the risk premium. We use the same method for estimating ? as we did for the Lodging calculations. Using the data expound above, we find WACCLodging to be 8. 85% and WACCRestaurants to be 12. 11%. These findings support the notion that incorporating debt will lower the cost of capital due to the tax shield. Lodging has a debt/equity ratio of 74/26 against the 42/58 in the restaurant division. See detailed calculations in the attached excel sheet) We would also like to point out that of the restaurants given in the brief, many of these would in essence not necessarily be our peer group per se and we would be more selective over the restaurants we would selected to more closely mirror Marriotts restaurants. With our aim to ensure we have the closest peer group possible for comparison. 5. What is the cost of capital for Marriotts contract services division? How can you estimate its equity cost without publicly traded comparable companies?We use the same framework as for the WACC calculations under Q3 and Q4. However, as we do not have a defined ? for the Contract Service division or an adequate peer group, we will estimate the ? using the existing data for Marriott and the two divisions. We know from the literature that a (holding) companys ? is the weighted ? s of the individual business divisions. We use the revenue as the catalyst for the weighing of the ?. For the purpose of the calculations we use the unleveraged ? s. Mathematical this can be expressed as ?(Marriott) = Revenue charge (Lodging)* ? Lodging) + Revenue saddle (Contract Division)* ? (Contract Division) + Revenue metric weight unit (Restaurants)*? (Restaurants). To find the ? (Contract Division) we re-write the formula to ?(Contract Division) = ? (Marriott) Revenue Weight (Lodging)* ? (Lodging) Revenue Weight (Restaurants)*? (Restaurants)/ Revenue Weight (Contract Division) ?(Contract Division) = 0. 7610 40. 99%*0. 5841 13. 49%*1. 0014/45. 52% = 0. 8490 Adjusting for the target capital structure we find ? (Contract Division) equals 1. 223 Using this data, we find WACC for the Contract Service division to be 10. 82%.