Weather Phenomenons vs. Crop Prices Essay Example | Topics and Well Written Essays - 1750 words

Weather Phenomenons vs. Crop Prices - Essay Example These elements are composed of what is known as weather phenomena such a drought, hurricane, wind, heavy rainfall, and snow. Drought, for example, tends to destroy crops, thereby decreasing its supply in the market and increasing prices. Other weather phenomena also affect the prices of the crops commodities in different ways, as will be discussed in the paper. Weather Phenomenon vs. Crop Prices Introduction In its literal meaning, weather refers to a state of the atmosphere, to the extent to which it is cold, hot, dry, wet, stormy, calm, cloudy, or clear. In general terms, it refers to the day-to-day temperature and rainfall activities. According to Arnold (2010), weather is associated with a number of phenomena that influence greatly the prices of crops. The phenomena include droughts, prolonged heavy rainfalls (El-Nino), hurricanes, hailstorms, lightning, clouds, snow, and wind. The objective of this paper is to explore the current weather phenomena and their impact on crop prices . Drought Drought refers to a period of a dry spell when there is no rainfall. It is one of the major weather phenomena that affect the prices of crops. This is due to the fact that during a dry spell, crops usually dry up in the farms leading to poor harvest. This in turn, will lead to shortage of crops in the market (Bolling, 2000). When such a shortage occurs, the demand of the crops in the market will likely outweigh their supply. This will result in an increase in the price of these crops, as many buyers will be competing to buy them. Such a situation is being witnessed in the Midwest of the USA, where persistent drought has seen the prices of corn increase tremendously over the past few weeks (Sosnowski, 2012). Johnson (2012) notes that 10-months corn futures and soybeans’ prices hitting unprecedentedly high since 2008 are due to the speculation that the spreading drought currently witnessed in the Midwest of the US will cut the US’s supplies of these crops, as i t is the world’s largest producer of the crops. This was after the meteorological department predicted that the Midwest would experience unusually hot and dry spell in the next 10 days, as occasional light showers would be too little for more than brief crop improvements. Gim Gerlach was reported as saying that the crops are shrinking daily, while prices are shooting up for less available supply of crops for domestic use and export (Johnson, 2012). Statistically, corn futures for December supply jumped 4.4% to close at $7.725 per bushel on the Chicago Board of Trade. The trade market also had hit $7.78 high early on. This general increase in corn and soybeans due to the drought would also probably lead to inflation. Demand and supply curve: Price S2 S1 P2 D2 P1 D1 D Q2 Q1 Quantity Before the drought hit Midwest, production of corn stood at Q1 at S1 supply curve while price charged was P1and demand D1. However, after the drought hit the country, the supply curve shifted to S2 and the quantity supplied moved to Q2, thereby increasing prices from P1 to P2. The price increase in this case was caused by a fall in supply of corn, as people scrambled for the few remains, shifting the demand to D2. Adequate Rainfall Theoretically, farmers perceive rainy seasons as a period of bumper harvest. This is because the proper frequency of rainfalls leads to a good yield (Libecap & Steckel, 2010). The result would be that there would be enough supply of the crop in question to feed the nation and to export. Similarly, the forces of demand and supply would help determine the prices of the crops. Since supply would be high, this means

Drug Use at Workplace Essay Example | Topics and Well Written Essays - 750 words

Drug Use at Workplace - Essay Example Additionally, the "meth" epidemic really was not properly categorized at all. Actually, the issue is the use of stimulants, not so much crystal meth. Meth use takes a terrible toll on the mind and body of the user. The devastating physical effects of using this extremely addicting drug range from mildly debilitating to severely incapacitating and potentially lethal. Common side effects for using meth include facial disfigurement, rotting teeth (meth mouth), anorexia, body tremors, convulsions, high blood pressure, and seizures. But it is the destructive psychological and neurological effects on the addict that make meth an issue for the entire workplace. Even short-term meth use can cause severe mood swings, depression, paranoia, and emotional instability in the user, increasing the potential for violence in the workplace. Americans are working harder and longer, and now some people are turning to drugs for a quick boost--with dire consequences. Drugs in the workplace may not be a new phenomenon, but there's a new poison taking precedence: Workplace methamphetamine abuse rose 68 percent in 2003. Meth use and stimulus amphetamine injestion can cause serious damage to employees and the overall work environment. While high on meth, employees may think they're in control, but it's a false sense of security. Employees are not completely aware of their environment and are apt to have more on-the-job accidents. Signs of meth addiction include dizziness, irritability, sudden weight loss, inability to get along with co-workers or supervisors, and a possible tendency toward violence. b) What are the tangible benefits of resolving the problem Sadly, the article does not speak to solving the problem. Rather it readily admits that researchers haven't a clue as to how to treat meth addiction. My own independent research indicates the rampant effects of methamphetamine addiction at work. Clearly there are no tangible benefits to the employer. Tragically, it appears that the main benefit is to protect the workplace from the addict. 4) Describe and evaluate any solutions provided in the article. The article did not offer any solutions at all. It readily admits that there is a paucity of information available on how to treat this latest epidemic in the world of drug

History of Saccos in Kenya

History of Saccos in Kenya A Savings and Credit Cooperative is a type of cooperative whose objective is to pool savings for the members and in turn provide them with credit facilities (UN-HABITAT, 2010). The general objective of SACCOs is to promote the economic interests and general welfare of its members. The ICA Statement on the Co-operative Identity defines a cooperative as an autonomous association of persons united voluntarily to meet their common economic, social, and cultural needs and aspirations through a jointly owned and democratically controlled enterprise. Co-operatives are based on the values of self-help, self-responsibility, democracy, equality, equity and solidarity. Co-operative members believe in the ethical values of honesty, openness, social responsibility, and caring for others (Bibby Shaw, 2005). The 1995 ICA Congress also reformulated seven principles of co-operatives. In summary, they are: Voluntary and open membership Democratic member control Member economic participation Autonomy and independence Education, training and information Co-operation among co-operatives Concern for the community Different SACCOs provide a number of products which include but are not limited to credit services, deposit and savings facility, cheque clearing, bankers cheques, standing orders, safe custody, and salary advances. History of SACCOs The pioneers of modern cooperation emerged in working- class environments in European Industrial cities of the 19th Century. In the 1840s,the first to industrialize countries (Great Britain and France),pioneers of co-operative invented models of the consumer cooperative and the labor cooperative to defend and promote the interests of working-class families in the face of the social disasters caused by industrial revolution. The second generation of the pioneers of modern cooperation emerged, in certain European rural environments in the late 19th century. In the 1860s, these pioneers created the models of agricultural cooperatives and savings and credit cooperatives inspired by the success of the consumer cooperatives formula in Great Britain and based on old traditions of rural solidarity aimed to meet the primary economic needs, which went unsatisfied. Agricultural cooperatives then enabled families of farmers and livestock raisers to organize their own supply systems of agricultural inputs and market their products and no longer depended on merchants and businessmen in the cities. The SACCOs helped them to stop depending on moneylenders and to find the credit necessary to modernize their agricultural cooperatives (Mwakajumilo, 2011) . SACCOs in Africa In Africa, the idea was brought by a Roman Catholic priest, in Jirapa, a town in Ghana, in 1955. Father John McNulty from Ireland had studied in Canada where he learnt about savings and credit co-operative societies. Father McNulty helped the Jirapa villagers to form a Savings and Credit Co-operative. The co-operative assisted the members to address their financial problems which they couldnt individually. Father McNulty trained about 60 people, who were the first successful savings and credit co-operative pioneers on the African continent. The success of Jirapa savings and credit co-operative spread throughout Ghana and by 1968, the savings and credit co-operatives throughout the country came together to form the Credit Union of Ghana , which was set up to promote, organize, service and co-ordinate the activities of savings and credit co-operative in Ghana. (Alila Obado, 1990). According to the World Council of Credit Unions (WOCCU) 2011 statistical report, there are 51,013 credit unions in the world, having a total of 196,498,738 members and a total penetration of 7.8% Penetration rate which is calculated by dividing the total number of reported credit union members by the economically active population age 15-64 years old (World Council of Credit Unions (WOCCU) , 2012). The largest markets in Africa by number of members as of December 31st 2011 are Kenya (4,183,220), Senegal (2,231,117), Ivory Coast (1,705,712), and Benin (1,597,233) (WOCCU, 2012). History of SACCOs in Kenya SACCOs in Kenya are currently among the leading sources of the co-operative credit for socio-economic development (Alila Obado, 1990).Cooperatives in Kenya were started in 1908 and membership was limited to white colonial settlers. The first cooperative was established at Lumbwa, present day Kipkelion area. In 1944 colonial officers allowed Africans to form and join cooperatives (Gamba Komo, 2012). The initial attempt to encourage African farming co-operatives was initiated by the need to implement the recommendations of the Swynnerton Plan of 1953. The Swynnerton Plan was formulated to improve African farming, specifically the growing of cash crops and is recorded to have encouraged the progress and growth of African cooperatives (Alila Obado, 1990). It was at this point that the recommendation that a registrar of cooperatives be appointed was made. In 1945, a new Cooperative Societies Ordinance was enacted which allowed African participation in the cooperative movement. In 1946, a department of cooperatives was established and a registrar of cooperatives appointed. By 1950 most colonial civil servants began to support and encourage the development of cooperatives and by 1952, about 160 cooperatives had been registered (Alila Obado, 1990). The post-independence era saw the rapid increase the in number of producer organizations and consolidation of the ones that already existed. At this time, the government saw the cooperative movement as a means for African socialism, and strengthening common ties between the people from different regions of Kenya. In 1963 there were about 1000 cooperatives, which rapidly grew in number since then. Today, the co-operatives are an integral part of the Government economic strategy aimed at creating income generating opportunities particularly in the rural areas. The co-operative movement has been recognized by the Government as a vital institution for the mobilization of human and material resources for various development progress particularly in the rural areas where the majority of people reside, earning their livelihood mainly from agriculture. The co-operative movement now contributes well over 45 per cent of Kenyas GDP and it is estimated that at least one out of every two Kenyans directly or indirectly derives his/her livelihood from the co-operative movement. Over the years, the co-operative movement remained predominantly agriculturally oriented. However, in the recent past, the co-operative movement has experienced significant diversification in activities and interests notably savings and credit. Other non-agro-based co-operatives have also emerged and ventured into areas such as housing; Jua-Kali, building and construction, handicrafts, transport, small scale industries, etc. (Alila Obado, 1990). SACCOs are one of the leading sources of rural finance and in many rural areas the local SACCO is the only provider of financial services. While the exact number of SACCOs operating in Kenya is not known, estimates range from almost 4,000 up to 5,000 (Financial Sector Deepening (FSD), 2010). Kingdom SACCO Limited Kingdom SACCO Society Limited was started by the Life Reformation Centre in 1999 with the aim of improving the economic livelihood of its members. It was registered in 21st January, 2000 under the Cooperative Societies Act No.12 of 1997, and it is governed by the SACCO Societies Act of 2008 and its by-laws. The growth of the SACCO has been high since inception a fact attributed to good governance and leadership, staff commitment and effective patronage by members (Kingdom Sacco Limited, 2011) . Figure Membership Growth Analysis. Source: www.kingdomsacco.com Vision To be a model SACCO, empowering the community economically and socially. Mission To promote a savings culture, and provide affordable credit by offering sustainable financial solutions to enhance the economic welfare of our members and stakeholders. Motto Pamoja Twaimarika Core Values Integrity Having been founded by members with a church based background, it was agreed that Integrity is one of the most defining values that the leadership and membership of Kingdom SACCO up hold. Accountability The SACCO strives to carry out all its dealings in an open manner that is agreeable to members and co-operative values. Proactive The SACCO aims at meeting the all members needs by ensuring that it is effecting necessary and desired change to its operations and products as frequently as needed. Team Spirit The SACCO Leadership, management and members view the SACCO as a family unit and as such always aim at working together as a team. Equality All members are treated equally without any favoritism and discrimination Products Offered by Kingdom SACCO Credit Facilities Business Loan Development Loan Emergency Loan School Fees Loan Supa Loan Overdraft Loan Jijenge Loan Rembesha Maisha Loan FOSA Accounts Junior Mustard Account Imara Account Kings Savings Account KSA Corporate Account Kings Fixed Account Other Services Cheque Clearing Safe Custody Bankers Cheques Standing Orders Salary Advance Night Stop Services Problem Statement SACCOs provide a wide range of products, offer loans that are cheaper than banks, provide higher interest on savings and according to a study by FinAccess, a significant percentage of the Kenyan population is unbanked (FinAccess, 2009). This recent study by the Financial Sector Deepening Trust (FSDT) revealed that banks serve 14.2 percent, SACCOs 13.1 percent and MFIs 1.7 percent of the population respectively. This is a big opportunity for SACCOs given that there is an untapped market. Since SACCOs do not raise equity from outside sources, theirstrength lies in numbers i.e. the more the members, the better it is for the SACCO because this means that higher capital is raised. This study seeks to find out how SACCOs are tapping into this ready market, the methods they are using to do this and their effectiveness in reaching this market Purpose Statement The purpose of this study is to examine the expansion strategies employed by Kingdom SACCO Limited. Objectives of the study To identify the expansion strategies employed by Kingdom SACCO Limited To examine the implementation of expansion methods employed by Kingdom SACCO Limited To determine the effectiveness of the expansion methods employed by Kingdom SACCO Limited Research Questions What are the expansion strategies employed by Kingdom SACCO Limited? How are the expansion strategies employed by Kingdom SACCO Limited implemented? What are the short falls/gaps of the expansion strategies employed Kingdom SACCO Limited? Justification of the study The vision held by Kingdom SACCO is to be a model SACCO. This coupled by the fact that its membership steadily increases every year makes it a suitable case to study. By studying the methods Kingdom SACCO uses to achieve a steady membership growth, a resource can be created for other SACCOs to reproduce in the country in order to improve the penetration and impact of SACCOs in Kenya. Significance of the study The results of this study will seek to benefit the Government, the ministries of Finance, and Cooperatives Development in formulating policies concerning SACCOs and other financial institutions in order to improve banking and financial services in Kenya. Kingdom SACCO will be able to identify those expansion strategies that are effective and discard those that are not and so be able to position itself as a model SACCO, consistent with its vision. Other SACCOs in Kenya will be able identify and implement effective expansion strategies in order to boost membership and penetration of financial services in Kenya. Assumptions This study will be conducted under the following assumptions: The respondents will provide needed information objectively and fully All data provided by respondents will be correct and genuine Scope of Study This study will be carried out at Kingdom SACCO Limited. Data will be collected from the top and middle level management at the headquarters of the SACCO in Githurai, Nairobi Limitations and Delimitations Since this is a case study focused on a single SACCO, the results of the study cannot be attributed to a whole industry as generally representative. The researcher also expects that there may be reluctance by the respondents to provide adequate accessibility of information since most businesses prefer to keep such data private. The researcher intends to seek full permission of the SACCO management to conduct this study in order to ensure full cooperation. Definition of Terms BOSA Back Office Services Activities. The branch of any SACCO that provides credit facilities to its members. FinAccess An arm of FSD Kenya. FinAccess has been established as the leading source of reliable data on financial access in Kenya and is widely cited in the media and by Government, the private sector and international development partners. FOSA Front Office Services Activities. A service provided by SACCOs that enables its members to deposit and withdraw cash from or into their accounts just like a bank. FSD The Kenya Financial Sector Deepening (FSD) programme was established in early 2005 to support the development of financial markets in Kenya as a means to stimulate wealth creation and reduce poverty. Working in partnership with the financial services industry, the programmes goal is to expand access to financial services among lower income households and smaller enterprises. It operates as an independent trust under the supervision of professional trustees, KPMG Kenya, with policy guidance from a Programme Investment Committee (PIC). In addition to the Government of Kenya, funders include the UKs Department for International Development (DFID), the World Bank, the Swedish International Development Agency (SIDA), Agence Franà §aise de Dà ©veloppement (AFD) and the Bill and Melinda Gates Foundation. ICA International Co-operative Alliance. The ICA was established in 1895, and brings together over 230 affiliated bodies from more than a hundred countries. In total, the ICA represents an estimated 760 million co-operative members worldwide. KSA Kings Savings Account. A service provided by Kingdom SACCO that enables members to make their savings. It is available for individuals and corporates SACCO Savings and Credit Cooperatives Safe Custody A service offered by Kingdom SACCO for the safe keeping of valuables. WOCCU The World Council of Credit Unions (WOCCU). Established in 1970 with a membership from credit unions and co-operative financial institutions in 100 Countries, which between them have over 196 million members.

Graduation Speech: Life is a Blank Canvas -- Graduation Speech, Commen

My father always told me that my life is a blank canvas waiting for me to paint my future upon it. As I stand here before my fellow classmates, cherished friends and beloved teachers, I see more than just a graduating class, I see a group of artists waiting to exhibit their art to the world. See, the beauty of my father's analogy lies in the fact that we have all been given the right to choose our own destiny, essentially to paint whatever we want on our canvases of life. Our parents, teachers and friends have taught us all the techniques we need to embrace a bright and beautiful future, and now with this diploma, we stand alone with a paintbrush, palette and a world waiting our arrival. The question now is how do you go from where you are to where you want to be? I don't think there is a universal answer to this question, but I do think that you'll find an answer for yourself once you understand that even though life may appear to be the highest mountain, you can walk over it taking one step at a time. As a painter, you get to determine what kind of day you are going to have, ...

No Plastic Bags: the Influence of Different Factors on Consumer Attitudes Towards an Environmental Initiative

Environmental issues have within the recent years become a frequently debated matter and corporate social responsibility (CSR) has become a new determinant for consumers purchase decisions. As a consequence of this, ever more companies have begun to implement different CSR initiatives in order to take responsibility for the environment. The arguments differ among researchers whether it is actually profitable for companies to invest in CSR initiatives. In this study we have based upon the functional theory of attitudes and identified different factors that are likely to affect consumer attitudes towards an environmental CSR initiative and formed a model for this. The model postulates four main factors that are likely to affect consumers attitudes towards an environmental initiative; which attitude a consumer holds towards the actual product (in this case the paper bags) in question, the extent to which a consumer considers environmental responsibility to be important, the extent to which a consumer considers environmental issues to be a threat to her-/himself and the amount of information a consumer receives about the initiative. To test our model we used a quantitative approach and investigated the consumer attitudes towards the initiative no plastic bags at the shopping centre Strompilen, Umea. We found that consumers in general are very positive towards the initiative. We then looked closer into what parts of our model that had significant impact on consumer attitudes towards the concept. The Chi-Square tests showed that three of four parts in the model could be verified. These parts were; the consumer’s attitude towards the actual product (in this case the paper bag), how important environmental responsibility is to a consumer and to what extent a consumer sees environmental issues as a threat to her-/himself. The fourth part of the model; the amount of information a consumer has received could not be verified. Thus the model was modified and was in the end constituted by the three parts that had been statistically verified.

A short History of Maria Montessori

A Short History of DRP. Marl Interiors and her Methods Teaching a two years old child how to be Independent, responsible and confident sounds Impossible, but more than 100 years back an Italian doctor named Marl Interiors made It possible. As she believed â€Å"the study of child psychology In the first years of life opens to our eyes such wonders that no one seeing them with understanding can fail to be deeply stirred. Our work as adults does not consist in teaching, but in helping the infant mind in its work of development. (What is Interiors preschool? By David Khan p. ) Maria Interiors was born on 31st August 1870 in Charitable in Anaconda, Italy. Her father Alexandra was old-fashioned man with military habits; however her mother Reining was an educated woman which was very unusual in those days. They were a middle class family and Maria Interiors was their only child. When Maria Interiors was around five they moved to Rome and a year after she started school there. Interiors wa s an ambitious girl with a strong personality.She was good at mathematics and wanted to be an engineer, but later on she discovered her love for biology and her final decision was to study medicine. Her father was against her Idea of studying medicine since In those days only boys could become doctors. Although she took her flirts degree, she struggled a lot to make her way into the medical university and by that she was the first female medical student in Italy. Maria Interiors thought that this was the end of her struggles but actually it was Just the beginning. She faced difficulties by being the only woman student.The students which were all men were insulting her when she was passing the corridors and they tried very hard to frighten her away but that did not work. She even assisted a dead body in a room by her own, because it was not proper for a girl to dissect a body in front of men. For her that was not a pleasant experience as she said â€Å"there, on the other side, the skeleton – ever more enormous – seemed to move. ‘My God, what have I done to suffer in this way? Why me all alone in the midst of all this death? ‘†¦. A shiver ran through my bones. † (Marl Interiors by Michael Pollard p. 5) On that night she became feverish and her mother told her that she do not have to go back to the university, but the next morning Interiors decided to go back and finish what she started. In 1 896 she graduated and became the first female physician in Italy. After graduation she worked in psychiatric clinic in the university of Rome for â€Å"idiot† children. In the room where the children were there was nothing for them to handle or play with, there were only benches for them to sit on. The children were clean and feed but after meals they throw themselves on the floor to pick up the crumbs of bread.DRP. Interiors thought that this cannot be right, therefore something need to be done to help these children. She went t o Paris and visited the Procurable Institute where she studied a lot of people. The first to study was Jab Marc Gaspers Atari; he was a physician In the Institute of deaf-mutes in Paris. In his late twenties a boy around eleven years was brought to him, he was found In the woods around Everyone. The boy was more Like an animal and scientists from all around the world came to see him. DRP. Philippe Pine an expert in insanity was nothing can be done. Tara disagreed with him and thought that the wild boy needed training, so he took him home and named him victor. His house keeper helped him to train victor, she loved the wild boy and she was helping him to socialize. ‘Tara used trick methods and tried to teach him language, he even isolated his senses. The boy learned only few words Milk and God; therefore ‘Tara gave up on him and took him back to the institute. Interiors was interested in how the wild boy could not learn language even though he was able to hear.She began he r investigation on when children need to learn language and she even took the isolation concept from ‘Tara. The second person she studied was Detoured Segueing a doctor who studied medicine under ‘Tara. Segueing wished to enter the dark world of the â€Å"idiot: children and he accomplished that in a short period. He had an experiment on an â€Å"idiot† boy and he was able to train him by using his senses. After the training the boy was able speak, write and even count. Segueing used gymnastic equipments and tools used in daily life to train the boy.He used beads to thread, pieces of cloth to be buttoned and laced, different sized nails to be inserted in matching sized holes and other tools to help the boy learn the daily life skills. Interiors found what she was looking for after studying Segueing and she decided to study education for the first time in her life. For two years Interiors was training teacher in special methods of observing and educating feeble-mi nded children in Orthopedic School. The children there were sent from elementary schools to asylums as â€Å"idiots†, because they could not function as well as the others.Interiors spent eleven hours during the day observing and teaching the children by using different materials and methods. At night she would write up her notes on what she sees during the day. She worked really hard with these children as she said â€Å"those two years of practice, are my first and indeed my true degree in pedagogy. â€Å"(Maria Interiors, A Biography by Rata Kramer p. 98) Some f the children learned to read and write and they even were able to pass the same exam that was given to normal children in the primary grades. DRP.Interiors thought that the only reason that these children could pass the test is that they were taught in a different way and she wondered why the normal children had these results, as she said â€Å"While everyone was admiring the progress of my â€Å"idiots†, I was searching for the reason which could keep the happy healthy children of the common schools on so low a plane that they could be equaled in test of intelligence by my unfortunate pupils. (Maria Interiors, A Biography by Rata Kramer p. 91) Maria Interiors had an affair with DRP. Montanan, but they never got married and no one knows the reason.Between 1898 and 1901 her son Mario was born and as it was not acceptable for women to have a baby without a marriage Mario was sent to live with a family in the country. Interiors visited him but not often and until he was a teenager he did not know that she was his real mother. After that she gave up work at the psychiatric clinic and went to study philosophy and psychology on her own. She also translated and copied out with her own hand ‘Tara and Segueing works room French to Italian. Few years later in Rome wealthy bankers decided to put money to improve life of people there.They started with a building unit in San Lorenz, the pe ople who were living there were very poor and illiterate. When they went to work their little children were left in the streets and that was the first thing children between two and six years old. Interiors accepted that as she always wanted the opportunity to work with normal children. She was given a room with few furniture, therefore she asks for support from society women to help her collect funds for toys and material. She also found the daughter of the caretaker Candida Enunciate who was untrained and put her in charge of looking after the children.Interiors believed that the women in charge of the children should be someone who lived in the same place. On Jan 6, 1907 the Case die Bambini was officially opened. On the first day the children were scared and they were wearing a thick blue smocks which made them uncomfortable as they could not move freely. Interiors was not there very often, she sometimes visited only once a week to observe the children. One day she brought some materials that were designed by ‘Tara and Segueing and on her next visits she observed some changes in the children. The children preferred the materials she brought in rather than playing with the toys or drawing.There were social changes, their personalities grew and they even showed understanding in the activities they were doing. For months Interiors was observing the changes in the children and discussed that with the teacher. Later on she gradually began creating and modifying the ‘sensory material'. One day when Interiors came for a visit Candida was upset and told Interiors that she forgot to lock the large cupboard that contained all the material and when she entered the mom she saw that the children have opened the cupboard and took the materials out.Candida thought that children were thieves and they had to be punished, but Interiors looked at it as accomplishment. She thought that the children were ready to work; therefore they choose to bring out the materia ls and start working. From here Interiors decided to get rid of the large locked cupboard and replace it with a long low one were the children could take any materials they like to work with and return it back when they are finished. She also changes the tables and chair and got hem in child-size were the children could carry them and move them around easily.Interiors wanted to provide the children with an environment where they can be spontaneous and free. Her aim was to make the children independent and teach them to do thing by their own, as she said â€Å"Education is a natural process spontaneously carried out by the human individual and is acquired not by listening to words but by experience in the environment. † (Maria Interiors by Michael Pollard p. 33). She soon opened another Children House in San Lorenz for the privilege children. These years that DRP. Interiors spent in San Lorenz and her experiment there, made her famous in Rome.Couple years after her name travel ed all around the world. In the early sass Interiors was asked to be the government inspector of schools in Italy and she was promised by Mussolini his full support for her method. Interiors liked the idea of being supported be a powerful government, but soon things changed. Mussolini's government was planning for a war and asked Interiors to Join all the Interiors schools in his Fascist organization. She did not agree with him, therefore over a night all Interiors schools were shut down and Maria Interiors went to Spain.She stayed in there for a short time as after two years the civil war broke out and another Fascist took over Spain. By that time Interiors was reunited with her son Mario, but still no one knew that he was her was a separation between him and his first wife. Interiors wanted a place to settle with her son who had become her assistant and with her grandchildren which became close to her. She was offered to live with her friend in Holland, soon she settled there with her family. Two years later she received an invitation to go to India. In the same time a war broke in Europe and Interiors went to India few months eater.At that time in India there were a number of Interiors schools and teachers that were trained by DRP. Interiors. The people there respected her and even built her a special village where she could lecture and train her students. She stayed there for around six years and it was one of the happiest times in her life. When the war was over Interiors returned to Holland, but she still was traveling around the continents to give lectures. On May 6, 1952 Maria Interiors passed ways in her friend's garden in Holland and she was buried in a Catholic church at Narrowing-on- Sea, in Holland.She wanted to be the citizen of the world and to be buried where ever she dies. Interiors struggled to be the first female doctor but gained respect from scientists all over the world and her words about peace and education flew from one country to anot her. Maria Interiors a women that did not have a happy personal life and did not have a chance to take care of her own son, touched the lives of others and changed the children's life. â€Å"Free the child's potential, and you will transform him into the world† (Maria Interiors, homeownership. About. Com) that is what she believed.

10 Tips to Avoid Tick Bites

10 Tips to Avoid Tick Bites Finding an engorged tick on your body is never fun.  Ticks  carry diseases, which might make you think twice before your next hike into the woods. You dont have to avoid the outdoors, though. Your first line of defense is avoiding their bites. Follow these 10 tips to avoid ticks- and, more importantly, tick bites- when you head outdoors. Why Ticks Pose a Serious Health Danger   Unlike chiggers, cockroaches, and bedbugs, ticks are much more than a nuisance. They can carry and transmit several serious diseases that, untreated, can be debilitating or, in rare cases, even deadly. Not all ticks carry all tick-borne diseases, but of course, its better to be safe than sorry. If you are in areas with brush or grass at temperatures above freezing, you are at risk of tick bites.   According to the CDC, many different types of ticks located all over the United States carry disease. Tick-borne diseases include but are not limited to: Lyme disease- a disorder that can cause a wide range of serious symptoms ranging from joint disorders to heart issuesHeartland virusRocky Mountain heartland feverTick-borne relapsing feverTularemia Once you have a tick-borne disease, it can become chronic. Even after treatment, many people have residual symptoms from tick-borne diseases. About Anti-Tick Pesticides and Repellents DEET and permethrin are the two most effective pesticides against ticks. In combination with long pants, socks, and long-sleeved shirts, they can help protect you from ticks. Its important to know that: DEET is a completely different chemical compound from DDT. It has been tested and found to be safe when used according to instructions. It is very important, however, that it not be ingested.Permethrin is a potent pesticide but does carry some risks. Typically, permethrin is used on clothing, boots, and other outerwear. It should not be used on the skin.Veterinary products such as Advantage and Frontline can be applied monthly to cats and dogs and do a very good job of minimizing pest infestations (including ticks). Pet shampoos and coat treatments are likely to be less effective and much messier. Tips for Avoiding Tick Bites 1. Use a product with 20 percent  DEET or higher on both skin and clothing. Carefully apply the repellent by hand to your face, neck, and ears, avoiding your eyes or mouth. Adults should apply DEET products to young children, and its important to warn children not to touch their skin. You may need to reapply DEET products after several hours. 2. Apply permethrin to clothing, hiking boots, tents, and camp chairs. Permethrin products should never be used on skin. It remains effective on clothing through several washings. Permethrin is sold under the names Permanone and Duranon. You can use permethrin on your own clothing, but if youre expecting to need tick-proof clothing on a regular basis you may want to invest in pretreated clothing such as the line of gear sold by Ex-Officio. The treatment lasts up to 70 washings.​ 3. Wear light-colored clothing. Youll have a better chance of seeing a dark tick crawling on you before it makes its way to your skin. 4. Wear long pants and tuck them into your socks.   Tuck your pant legs into your socks, and keep your shirt tucked into your waistband. In areas where ticks are abundant, consider using rubber bands or even duct tape to create a tick-proof barrier at your cuffs. 5. Dont forget to treat your pet. Dogs often accompany their humans on the trail, and they are just as likely to attract ticks as you are. Fortunately, once-a-month treatments such as Advantage can keep ticks at bay with relatively little fuss. 6. Stay on the trail. Ticks are usually found in brush and high vegetation, waiting for a passing host. When your leg brushes through the vegetation, the tick transfers to your body. Walk on designated trails and avoid blazing your own trail through meadows or other grassy or brush-covered areas.   7. Avoid tick-infested places. In some places, ticks may be too abundant to avoid, even with the best repellents and long pants. If you venture a few feet into a wooded area or field and find your legs covered with ticks, turn around. 8. Be vigilant- do a daily tick check. Strip down and search all those places that ticks love to hide: in your hair, under your arms, between your legs, behind the knees, and even in your belly button. Remember that some ticks are tiny, so you will have to look carefully. Ask a friend to check your back, neck, and back of your legs. 9. Put your clothes in the dryer, and tumble them on high heat. Research shows many ticks can make it through the washing machine, even when you wash in hot water. Most ticks will die during a cycle in the hot, dry air of your clothes dryer, though. 10. Check your pets and your kids before letting them loose in the house. Ticks can easily drop off of pets and children onto carpets or furniture. Then they can wait there for days for a human being or pet to come along. Be sure to check both pets and children after time outdoors.

Battle of Charleroi in World War I

Battle of Charleroi in World War I The Battle of Charleroi was fought August 21-23, 1914, during the opening days of World War I (1914-1918) and was part of a series of engagements collectively known as the Battle of the Frontiers (August 7-September 13, 1914). With the start of World War I, the armies of Europe began mobilizing and moving towards the front. In Germany, the army commenced implementing a modified version of the Schlieffen Plan. The Schlieffen Plan Conceived by Count Alfred von Schlieffen in 1905, the plan was designed for a two-front war against France and Russia. Following their easy victory over the French in the 1870 Franco-Prussian War, Germany saw France as less of a threat than its larger neighbor to the east. As a result, Schlieffen sought to mass the bulk of Germanys military might against France with the goal of winning a quick victory before the Russians could fully mobilize their army. With France eliminated, Germany would be able to focus their attention to the east (Map). Predicting that France would attack across the border into Alsace and Lorraine, which had been ceded following the earlier conflict, the Germans intended to violate the neutrality of Luxembourg and Belgium to attack the French from the north in a large-scale battle of encirclement. German troops were to defend along the border while the right wing of the army swept through Belgium and past Paris in an effort to crush the French army.   French Plans In the years prior to the war, General Joseph Joffre, Chief of the French General Staff, moved to update his nations war plans for a conflict with Germany. Though he initially desired to create a plan that had French forces attack through Belgium, he was later unwilling to violate that nations neutrality. Instead, he and his staff designed Plan XVII which called for French troops to mass along the German border and mount attacks through the Ardennes and into Lorraine. Armies Commanders: French General Charles LanrezacFifth Army Germans General Karl von  Bà ¼low  General Max von HausenSecond Third Armies Early Fighting With the beginning of the war, the Germans aligned the First through Seventh Armies, north to south, to execute the Schlieffen Plan. Entering Belgium on August 3, First and Second Armies drove back the small Belgian Army but were slowed by the need to reduce the fortress city of Liege.   Receiving reports of German activity in Belgium, General Charles Lanrezac, commanding the Fifth Army at the northern end of the French line, alerted Joffre that the enemy was advancing in unexpected strength.   Despite Lanrezacs warnings, Joffre moved forward with Plan XVII and an attack into Alsace.   This and a second effort in Alsace and Lorraine were both pushed back by the German defenders (Map).      To the north, Joffre had planned to launch an offensive with the Third, Fourth, and Fifth Armies but these plans were overtaken by events in Belgium. On August 15, after lobbying from Lanrezac, he directed Fifth Army north into the angle formed by the Sambre and Meuse Rivers. Hoping to gain the initiative, Joffre ordered Third and Fourth Armies to attack through the Ardennes against Arlon and Neufchateau.   Advancing on August 21, they encountered the German Fourth and Fifth Armies and were badly defeated. As the situation along the front developed, Field Marshal Sir John Frenchs British Expeditionary Force (BEF) disembarked and began assembling at Le Cateau.   Communicating with the British commander, Joffre requested that French to cooperate with Lanrezac on the left. Along the Sambre Responding to Joffres order to move north, Lanrezac positioned his Fifth Army south of the Sambre extending from the Belgian fortress city of Namur in the east to just past the mid-size industrial town of Charleroi in the west. His I Corps, led by General Franchet dEsperey, extended the right south behind the Meuse. To his left, the cavalry corps of General Jean-Franà §ois Andrà © Sordet linked Fifth Army to Frenchs BEF.   On August 18, Lanrezac received additional instructions from Joffre directing him to attack north or east depending upon the enemys location. Seeking to locate General Karl von  Bà ¼lows Second Army, Lanrezacs cavalry moved north of the Sambre but were unable to penetrate the German cavalry screen.   Early on August 21, Joffre, increasingly aware of the size of German forces in Belgium, directed Lanrezac to attack when opportune and arranged for the BEF to provide support. On the Defensive Though he received this directive, Lanrezac adopted a defensive position behind the Sambre but failed to establish heavily-defended bridgeheads north the river. Additionally, due to poor intelligence regarding the bridges over the river, several were left completely undefended. Attacked later in the day by the lead elements of Bà ¼lows army, the French were pushed back over the river. Though ultimately held, the Germans were able to establish positions on the south bank. Bà ¼low assessed the situation and requested that General Freiherr von Hausens Third Army, operating to east, join in the attack on Lanrezac with the goal of executing a pincer. Hausen agreed to strike west the next day.   On the morning of August 22, Lanrezacs corps commanders, on their own initiative, launched attacks north in an effort to throw the Germans back over the Sambre. These proved unsuccessful as nine French divisions were unable to dislodge three German divisions. The failure of these attacks cost Lanrezac high ground in the area while a gap between his army and Fourth Army began to open on his right (Map).   Responding, Bà ¼low renewed his drive south with three corps without waiting for Hausen to arrive. As the French resisted these assaults, Lanrezac withdrew dEspereys corps from the Meuse with the intent of using it to strike Bà ¼lows left flank on August 23. Holding through the day, the French again came under attack the next morning. While the corps to the west of Charleroi was able to hold, those to the east in the French center, despite mounting an intense resistance, began to fall back.   As I Corps moved into position to strike  Bà ¼lows flank, the lead elements of Hausens army began crossing the Meuse.   A Desperate Situation Recognizing the dire threat this posted, dEsperey counter-marched his men towards their old positions.   Engaging Hausens troops, I Corps checked their advance but could not push them back across the river. As night fell, Lanrezacs position was increasingly desperate as a Belgian division from Namur had retreated into his lines while Sordets cavalry, which had reached a state of exhaustion, needed to be withdrawn. This opened a 10-mile gap between Lanrezacs left and the British. Further west, Frenchs BEF had fought the  Battle of Mons. A tenacious defensive action, the engagement around Mons had seen the British inflict heavy losses on the Germans before being forced to give ground. By late afternoon, French had ordered his men to begin falling back. This exposed Lanrezacs army to greater pressure on both flanks. Seeing little alternative, he began making plans to withdraw south.   These were quickly approved by Joffre. In the fighting around Charleroi, the Germans sustained around 11,000 casualties while the French incurred approximately 30,000. Aftermath: Following the defeats at Charleroi and Mons, French and British forces began a long, fighting retreat south towards Paris. Holding actions or failed counterattacks were conducted at Le Cateau (August 26-27) and St. Quentin (August 29-30), while Mauberge fell September 7 after a brief siege. Creating a line behind the Marne River, Joffre prepared to make a stand to save Paris. Stabilizing the situation, Joffre began the First Battle of the Marne on September 6 when a gap was found between the German First and Second Armies. Exploiting this, both formations were soon threatened with destruction.   In these circumstances, the German Chief of Staff, Helmuth von Moltke, suffered a nervous breakdown. His subordinates assumed command and ordered a general retreat to the Aisne River.

Business Models and Technological Innovation

The current assignment deals with identifying the comparisons between the business models of Target and Wal-Mart. In addition, the significance of ratio analysis along with the important categories of ratios is evaluated from the perspective of the retail organisations. The impact of the business models on the financial performance of the above-mentioned organisations is critically reflected to develop an insight about their financial positions. Moreover, the study also analyses the cause behind changing rate of return in terms of equity, price-earnings and leverage ratios. The latter segment of the assignment sheds light on Ackman’s views for modifying the financial and overall strategies of Target.   Ã‚   The Dayton Company has established Target in the year 1962 and Wal-Mart has been set up in the same year. These two organisations are the major competitors in the US retail industry in the 21 st century. The major points of distinction between the business models of Target and Wal-Mart are summed up as follows: Target has been popular in the US retail industry for its â€Å"fun, fast and friendly services† to its clients. Wal-Mart, on the contrary, has been popular for its strategy of low cost services. In this context, Baden-Fuller and Haefliger (2013) stated that the small retailers often tend to follow the business models of large retailers for improving their themes of store layout to cater the needs of the customers. Wal-Mart is known for its cheaper prices of products and the stores contain large boxes with racks of products and general merchandise to meet the needs of the customers. The racks and furniture are of basic designs with the aisle space minimised to portray the sensation of low prices. In the words of Landry et al. (2013), such sensation converts the perceptions of the customers to purchase quality products at lower prices compared to the other stores in the market. Target, on the other hand, has designed its theme at the most appropriate costs, as it mainly aims to target the higher-class customers. Additionally, the fixtures and layouts of Targets are highly elaborate having broader aisles and quality concepts of lighting. In this regard, Schaltegger, Là ¼deke-Freund and Hansen (2012) stated that such high quality layout and visual display improves the customers’ shopping experience. However, it is worth mentioning that Wal-Mart has now undertaken initiatives in most of its US stores by incorporating better quality of fixtures and broader aisles to attract the high-level customers. As commented by Baden-Fuller and Haefliger (2013), the soft lines are the soft products involved in retail organisations like linens and clothing. Target has developed a set of designers to create brand new soft lines for its stores. Therefore, the organisation aims to improve the shopping experience of the customers by depicting the reflection of selling better quality soft goods at reasonable prices. Conversely, Wal-Mart has focused on the traditional marketing approach of providing quality soft goods at cheaper prices compared to the competitors. The financial ratio analysis is an important method to evaluate the financial performance of an organisation and its significance is briefly summed up as follows: Evaluation of financial statements: With the help of ratio analysis, the associated stakeholders of an organisation could determine the profitability and liquidity positions of the same (Healy and Palepu 2012). For instance, the profitability ratios like gross margin, operating margin and net margin could help the organisation to know about its profit margin and accordingly, measures could be taken to improve the same further. Judging the organisational efficiency: As commented by Delen, Kuzey and Uyar (2013), the efficiency ratios and the liquidity ratios like inventory turnover, debtors’ collection, creditors’ payment, current and quick ratios help in knowing about the operational efficiency of the management. Accordingly, Target would be able to make effective use of its assets to earn higher income. In addition, the turnover ratios would also help the organisation to know about the market demand. The other two efficiency ratios would indicate the effectiveness of the organisation in collecting and paying amounts to the debtors and creditors respectively. With the help of accounting ratios like return on investment and dividend payout, the external investors associated with Targets could make sound decisions based on the annual or monthly returns. Based on these ratios, the investors make decisions whether to make investments or withdraw the fund invested in the business (Brigham and Houston 2012). Comparison of financial performance: In the words of Brigham and Ehrhardt (2013), it is of prime necessity for an organisation to compare the financial position of its rivals. Hence, based on the financial ratios, Target could be able to distinguish its performance from Wal-Mart and take remedial actions, if necessary, to increase its revenue margin. Evaluation of the stability of a firm: The accounting ratio like capital gearing ratio help in evaluating the financial stability of a firm by indicating its leverage (Frank and Pamela 2016). In case, the preference share capital and other fixed interest bearing loans are higher in contrast to the equity share capital and reserves, the investors might not be willing to invest in Target and vice-versa. Figure 1: Importance of financial ratio analysis Identification and importance of the key ratio categories for the retail companies: With the help of gross margin, Target would be able to review its pricing strategy and evaluate the risk of overpricing or under pricing based on the cash flows. In case, the profit is low, the management of Target could reduce its cost of sales, increase the sales value and minimise damages. In the words of Vernimmen et al. (2014), the retail organisations mainly aim to achieve 50% gross margin at the end of each accounting year. The management of Target needs to consider this ratio, since it helps in knowing the selling and replenishment of stocks. In this context, Weil, Schipper and Francis (2013) cited that higher rate of turnover reflects the introduction of new merchandise, while a lower turnover indicated the capital congested in stocks. In the latter case, Target needs to release its inventory at lower cost to avoid any potential loss. With the help of liquidity ratios, Target could gauge the ability of its stores to write off the short-term debts and obligations. According to Edwards (2013), the benchmark for current ratio is 2 and that of the quick ratio is 1 for the retail industry. However, Richard and David (2016) argued that the retailers often consider the quick ratio as the best measure, since it subtracts inventories from current assets to indicate the firm’s ability of raising cash for meeting debt obligations. The return on assets is considered as another important ratio, which portrays the growth rate of the retail operations (Horngren et al. 2012). The retailers like Target always prefer to have higher ratio to maximise the amount of revenues. The creditors consider the gearing ratio to compare the investments with the funded business portion. Thus, Target needs to maintain a lower gearing ratio to ensure increase in funds from the creditors. According to the financial report of Target, the sales of the organisation have increased at almost a fixed rate from $26,296 in 1999 to $62,884 in 2008. This depicts that the organisation has managed to increase its customer base through improving its store layouts and the nature of services. However, Wal-Mart has also experienced wide increase in its revenues from S153,345 in 1999 to $401,244 in 2008. In this case, Wal-Mart has been enjoying competitive advantage over Target due to its low cost products to attract all categories of customers. According to the gross margin value, Wal-Mart has been enjoying competitive advantage over Target. This is because of high quality products at cheaper prices to attract all types of customers. However, both the organisations have performed quite above the industrial benchmark of 50%. The degree of financial leverage for Target has been 0.96 in 2008 compared to 0.61 of Wal-Mart. This depicts that Target has relied highly on debt financing, which has increased the debt payments of the organisation. In addition, the inventory turnover of Wal-Mart has been greater, which is due to the selling of goods at low prices to the mass market. However, the liquidity position of Target has been quite higher in contrast to Wal-Mart. The possible reason is the increased amount of retained earnings and less investment on capital projects. This implies that the company has been efficient in discharging its existing liabilities with the cash generated. This has been further supported by the dividend payout, which is high for Wal-Mart over the years 2006-2008. The debt-to-equity ratio has been significantly high for Target, which reveals that the company is inefficient to acquire funds through issuance of equity shares. The credit policy of Wal-Mart has been stringent, as the company is not extending the amount to be received from the debtors for accumulating higher working capital. This is because Wal-Mart has been making payments to its creditors within short span of time in comparisons to that of Target. Thus, these above-mentioned ratios are the key metrics, which have helped in ascertaining the financial performance of Target and Wal-Mart. The rate of return on equity is largely dependent two components, which include net margin and the asset turnover. For instance, if the sales of an organisation increase, the return on equity also increases, since each sale generates higher money for the organisation (Hotchkiss, Strà ¶mberg and Smith 2014). In addition, if any retailer generates greater sales from the assets owned, it increases the return on equity. Thus, the product sales and turnover from assets are the major determinants, which lead to differential rate of return on equity for the retailers. Some retailers deliberately increase the financial leverage to acquire funds through debt financing in relation to the equity shares. Thus, higher amount of debt in the capital structure of the organisation might result in higher price/earnings ratio and equity returns (Pà ¤tà ¤ri, Karell and Luukka 2016). According to the provide case, Ackman has hold a substantial portion of the shares of Target and initially, the person was highly satisfied with the financial performance of the organisation. However, the person has demanded to be appointed as a board member of Target. The management of the organisation has declined the negotiation immediately. Hence, this shows that the person has self-interest in the organisation to accomplish his personable goals and objectives. It is quite justified on the part of Ackman to change the board of directors of Target, as no direct possesses the relevant CEO experience. However, it is to be borne in mind that Ackman has been quite satisfied with the management before putting forward the proposal of becoming a board member. Thus, this demand for change might not be aligned to suit the needs of the associated stakeholders. Ackman has also suggested to increase the business reach outside USA to match with the revenues of its major competitor, Wal-Mart. In addition, the proposed nominees of the person do not have any sort of relationship with Ackman, which challenges the personal conflict issue. Furthermore, one of the former board members of Target has extended support to the proposed changes, as they will result in creation of long-term values fore the shareholders.    However, most of the external analysts have supported the management of Target by stating that the investors are highly satisfied with the organisational performance. This is because the earnings from each share of the organisation have increased from 1999 to 2007; however, it has fallen marginally in the year 2008. In addition, the management of Target has been effective to maintain its liquidity position despite the lower turnover from inventory and delayed payments from debtors. Despite positive effects of Ackman’s changes, the demand for changes has aroused because Ackman has been denied to be appointed as a director within the organisation. Hence, despite the increase in financial leverage and fall in the annual sales growth, it has yielded adequate returns to the investors. Thus, Ackman’s demand for changes is not justified to match the organisational strategies and financial record of accomplishment. In compliance with the brave discussion, it is feasible for the investors to stay with the current board of Target. This is because Target has provided the opportunity to Ackman to express his views to the shareholders possessing the voting rights and most of the shareholders have turned up for the organisation. In addition, the changes proposed on the part of Ackman would barely result in long-term benefits to the shareholders. In addition, Target has increased its dividend payout to the shareholders over the years, which also signifies the management efficiency in running biasness operations. Hence, from the perspective of an investor, it is better to select the existing Target board instead of choosing the proposed slate of Packman. In order to avoid such conflict, the Target Board could have increased the remuneration of Ackman, as the maximum amount of investment is drawn from the person itself. However, Callen (2015) argued that increasing the remuneration of a specific shareholder might result in discontentment amongst the other stockholders. In addition, Target could issue bonus shares to Ackman through which greater benefits could be realised. With the help of such strategies, Target might have been able to avoid such conflicting interest and maintain effective relationship with the largest shareholder of the organisation. According to the provided scenario, a substantial portion of the derivative securities of Perishing Square is with Target, which would perish within two years. Hence, this type of investment would help in boosting the stock performance of Target in the short-run; however, the value is nominal in relation to long-term shareholder value. As a result, the return on equity might be reduced largely along with fall in the dividend payout ratio. In addition, the company might suffer from poor liquidity position, as the creditors might not be willing to extend its payment period due to the possible fall in share prices. According to the above discussion, the business model of Target is to attract the high-income individuals by selling products at affordable prices. On the other hand, Wal-Mart has been providing high quality products at lower cost to attract all types of customers. In addition, it has been found that ratio analysis is an important financial tool to evaluate the financial performance of an organisation and help the investors to make sound decision-making. After comparing the financial performance of Wal-Mart and Target, the former has been enjoying competitive advantage due to its expansion in the global markets. Furthermore, from the given case, it has been found that Ackman’s proposed changes are not effective in improving the financial performance of Target from the ethical perspective. In order to avoid such conflict, the organisation might have increased the remuneration ad issued bonus shares to Ackman. Lastly, it has been evaluated if such the changes were implemented, it might result in loss of shareholder value of Target. Baden-Fuller, C. and Haefliger, S., 2013. Business models and technological innovation.  Long range planning,  46(6), pp.419-426. Landry, R., Amara, N., Cloutier, J.S. and Halilem, N., 2013. Technology transfer organizations: Services and business models.  Technovation,  33(12), pp.431-449. Schaltegger, S., Là ¼deke-Freund, F. and Hansen, E.G., 2012. Business cases for sustainability: the role of business model innovation for corporate sustainability.  International Journal of Innovation and Sustainable Development,  6(2), pp.95-119. Healy, P.M. and Palepu, K.G., 2012.  Business Analysis Valuation: Using Financial Statements. Cengage Learning. Delen, D., Kuzey, C. and Uyar, A., 2013. Measuring firm performance using financial ratios: A decision tree approach.  Expert Systems with Applications,40(10), pp.3970-3983. Brigham, E.F. and Houston, J.F., 2012.  Fundamentals of financial management. Cengage Learning. Brigham, E.F. and Ehrhardt, M.C., 2013.  Financial management: Theory & practice. Cengage Learning. Brigham, E.F. and Houston, J.F., 2012.  Fundamentals of financial management. Cengage Learning. Frank, J.F. and Pamela, P.P., 2016. Financial Management and Analysis. Hotchkiss, E.S., Strà ¶mberg, P. and Smith, D.C., 2014, March. Private equity and the resolution of financial distress. In  AFA 2012 Chicago Meetings Paper. Pà ¤tà ¤ri, E.J., Karell, V. and Luukka, P., 2016. Can size-, industry-, and leverage-adjustment of valuation ratios benefit the value investor?.International Journal of Business Innovation and Research,  11(1), pp.76-109. Vernimmen, P., Quiry, P., Dallocchio, M., Le Fur, Y. and Salvi, A., 2014. Corporate finance: theory and practice. John Wiley & Sons. Weil, R.L., Schipper, K. and Francis, J., 2013.  Financial accounting: an introduction to concepts, methods and uses. Cengage Learning. Edwards, J.R., 2013.  A History of Financial Accounting (RLE Accounting)(Vol. 29). Routledge. Horngren, C., Harrison, W., Oliver, S., Best, P., Fraser, D. and Tan, R., 2012. Financial Accounting. Pearson Higher Education AU. Richard, L. and David, P., 2016. Advanced financial accounting. Callen, J.L., 2015. A selective critical review of financial accounting research.  Critical Perspectives on Accounting,  26, pp.157-167. Warren, C.S., Reeve, J.M. and Duchac, J., 2013.  Corporate financial accounting. Cengage Learning. O’Neill, P., Sohal, A. and Teng, C.W., 2016. Quality management approaches and their impact on firmsÃâ€" ³ financial performance–An Australian study.  International Journal of Production Economics,  171, pp.381-393. Parker, L.D., 2012. Qualitative management accounting research: Assessing deliverables and relevance.  Critical Perspectives on Accounting,  23(1), pp.54-70. With a decade's experience in providing essay help, Business Models and Technological Innovation Business model is defined as the abstract presentation of a company’s way of working. The model is a comprehensive layout about how the company operates in the market, sells its products, generates revenue and maximises its capital. Business models are primarily related to entrepreneurial firms like Google and show how these firm captures market opportunities and create value. Today business models include technology and show how companies use it to create economic value (Chesbrough, 2013). Innovation is a very important aspect of business models and has evolved has the stimulus which stimulates the organisations to continuously manage their models to adjust to the market conditions. Business models are designed to embrace the entire business system of an organisation. The companies earlier conceived business models as â€Å"pipes† which showed how they produced goods and sold them to consumers (Aithal & Jeevan, 2016). This model worked just like pipe carrying water but did not include other important aspects like innovation, organisational culture or future strategies. The platform model as used in present international companies like Apple is based on a technology driven platform which acts like a market. The digital platform help the buyers meet the seller and also stores the information about the transactions for future use (Van, Parker & Choudary, 2016). Today business models have evolved into dynamic systems which allow the companies using them to explore new markets, bring about innovations and restructure their models according to the market situations. The companies conceptualise their business models based on several factors within themselves and from the external environment. The structures of the companies have a profound effect on the business models. The multinational companies like Apple and Vodafone keep on introducing new products and expanding their business into new markets. These companies look upon disruptive innovation, restructuring and sustainability as the essence of their business models. These companies follow business models like franschise, manufacturer, retail outlet or distributorship to operate in their markets. The working cultures of the companies decide their power to adjust to new situations and take advantage of them. Companies grapple to change their existing business models and adopt new business models. Management, communication and coordination among the various segments are important for smooth adoption of new business models. The leadership in the companies and the employee relationship have profound effect on the business models and its dynamism. For example the companies like Nestle with expertise in fields of technology, innovation, marketing mix and financing have leadership in the market (Vahlne & Johanson, 2014). The global locations of these companies operate in an integrated way which enables the management to lead them through the changes. The small companies with limited resources often find it difficult to change their models and often face employee resistance (Kastalli & Van Looy, 2013). The dynamic business models used by the multinational companies can be used to deal with market challenges in a more strategic way. The static business model is only based on value creation between the consumers and the company. The dynamic model looks upon businesses as blocks but does not integrate them. However, the market challenges and intense competition require a total reformation of the companies and their ways of operating. This requires restructuring of the whole company as a system to adapt to the changes. Companies which fail to adapt to the changes often threat from substitute or threat of new emerging companies. Google has a unique business model which allows the internet giant to lead the market. In fact, it can also be opined that the business model of Google has helped the company to reach a position of having almost no competitor. The business model of Google, first allows the firms and people to promote their products in return of payment. The company also provides free blogging services to bloggers without opening accounts. The search engine allows these two groups of consumers to promote their blogs and earn money. Google has emerged as the world’s largest paid online advertisement platform and encourage growth of start-ups, entrepreneurial ventures and small business. It allows these groups to advertise their products to a vast consumer base which allows them to create their own profitable market. Google provides free services to the net surfers and allows a variety of services like email communication, socialising and video sharing. The free customers provide Google with invaluable information while using the internet which it uses to develop its future business.   This business model of Google provides services to the segments like bloggers and advertisers and which generates huge revenue for it. The services provided by Google are parts of the business system while the way of charging the advertisers and bloggers form the profi t model (Itami & Nishino, 2010). Companies use and develop innovative business models to expand their territories and partner with other firms.   The business model of Google is not restricted to providing mail and blogging services. The company has a dynamic business model which allows it to partner with companies and expand its product line. Google joined the Alliance for Affordable Internet which allowed the company to enter into partnership with Facebook, Intel and Microsoft. The business policies. The business model of Google has inspired it to enter into joint ventures and partnerships with organisations from diverse fields. The company entered into partnership with NASA to construct office of 1 lakh square feet which would used for research on nanotechnology, distributed computing and entrepreneurial space industry. Google set up two wind farms to generate renewable forms of energy. The company have entered into acquiring companies like Youtube and Android (Osiyevskyy & Dewald, 2015). Thus, the dynamic busi ness model of Google helps it to acquire new companies and operate in a sustainable way. Business models are developed by companies and advertise their innovative power. Business models are designed to adapt to new market situations and expand new markets. A well planned business model helps a company to acquire companies to expand its product portfolio. For example, Google owns the video sharing software Youtube, the internet search engine Google Chrome and the satellite map, Google Maps. This innovative product line consisting of various softwares catering to diverse needs under one owner, Google has helped the company to be the undisputable leader in the internet services market. Thus, the business model of Google allows it to bring about innovations (Baden-Fuller & Haefliger, 2013). Business models help the companies to explore and exploit their resources to bring about innovation and sustainability. The companies today lay stress on sustainable supply chain management to reduce their emission of poisonous gases and waste water. The companies invest in setting up renewable sources of energy like windmills. These policies of them benefit the society, consumers and the other stakeholders (Girotra & Netessine, 2013). Thus, business models encourage the company to acquire and use resources in a sustainable ways which encourage innovation. The aim of developing a business model is to operate ina way to provide maximum consumer satisfaction and high profits. Companies also price their products according to their business models and price their products to cater to huge consumer base (Dudin et al., 2015). The firms offer innovative products in various shapes and sizes at apt prices to cater the diverse consumer needs. It can be concluded that the business models are the very essence of the companies and expressions of their business strategies. The companies make dynamic and innovative business models to take advantage of the market situations and expand their operations. Their business models also help them to create innovation in areas of marketing mix, supply chain management and sustainable operations. Aithal, P. S., & Jeevan, P. (2016). How Service Industries can Transform themselves into Green Business Industries. Baden-Fuller, C., & Haefliger, S. (2013). Business models and technological innovation.  Long range planning,  46(6), 419-426. Chesbrough, H. (2013).  Open business models: How to thrive in the new innovation landscape. Harvard Business Press. Dudin, M. N., Kucuri, G. N., Fedorova, I. J. E., Dzusova, S. S., & Namitulina, A. Z. (2015). The innovative business model canvas in the system of effective budgeting. Girotra, K., & Netessine, S. (2013). OM forum—business model innovation for sustainability.  Manufacturing & Service Operations Management,  15(4), 537-544. Itami, H., & Nishino, K. (2010). Killing two birds with one stone: profit for now and learning for the future.  Long Range Planning,  43(2), 364-369. Kastalli, I. V., & Van Looy, B. (2013). Servitization: Disentangling the impact of service business model innovation on manufacturing firm performance.  Journal of Operations Management,  31(4), 169-180. Osiyevskyy, O., & Dewald, J. (2015). Explorative versus exploitative business model change: the cognitive antecedents of firm?level responses to disruptive innovation.  Strategic Entrepreneurship Journal,  9(1), 58-78. Vahlne, J. E., & Johanson, J. (2014). Replacing traditional economics with behavioral assumptions in constructing the Uppsala Model: toward a theory on the evolution of the Multinational Business Enterprise (MBE). In  Multidisciplinary Insights from New AIB Fellows  (pp. 159-176). Emerald Group Publishing Limited. Van Alstyne, M. W., Parker, G. G., & Choudary, S. P. (2016). Pipelines, platforms, and the new rules of strategy.  Harvard Business Review,  94(4), 54-62.

The pentagon papers Essay Example | Topics and Well Written Essays - 500 words

The pentagon papers - Essay Example Firstly, it came to be known that Nixon had sought a way to illegally discredit and outright stop Ellsberg during his first and only term as president. This understanding and realization was worth more than most people initially realized; due to the fact that the desire to stifle dissent and promote continued engagement in Vietnam was an issue that both political parties tacitly supported. Secondly, the impact upon society with respect to an understanding of democracy was one that encouraged people to question what the government actually was taking part in; no longer was allowing for the luxury of believing spokesmen with respect to the activities that were going on within the military or within governance. As such, the principal values that were eroded with respect to this situation can be determined to be predicated upon public trust in the government. Further, the impact upon the constitutional strength of the first amendment was also profound. The underlying reason for this has do to with the fact that even though individuals within the government originally sought to prosecute those responsible for the publication of these documents, any effort to do so was eventually understood as causing further damage to the administration. Similar to the situation of Edward Snowden, the ethical concern that is illustrated within this case, and within the film, had to do with the fact that publication of these documents was clearly an abrogation of the law (Freivogel, 2013). However, due to the number of individuals that continued to die in the Vietnam conflict each and every day, Ellsberg was faced with the ethical dilemma of whether or not the lies and fabrications that the government had thus far been responsible for warranted the unprecedented release of information. Ultimately, the answer that was determined was that the loss of trust a nd outright lies that the US government had been peddling for nearly 8 years was

Answer Questions Part 2 Essay Example | Topics and Well Written Essays - 3750 words

Answer Questions Part 2 - Essay Example Each such attack, irrespective of the location from where it is initiated, would also have the server to server IP address access details and these should have been highlighted in the audit of log data.Morever the staring point of this investigation should have been the proof underlying the tip. Chat softwares normally keep record of the chat data and it is available time and date wise. Hacker chat site, where the alleged boasting was done by Jack Hasenpfeffer, should have been approached to obtain more substance to the claim of the theft of the marketing plan. This would have rightly set the investigation on the right course. As the investigations stand Trigraph side has proven that the recipient email address was that of Jack Hasenpfeffer; however until unless it is proven that the hack tool author was Jack Hasenpfeffer and that he alone had intruded the Trigraph systems using such a tool and that such a tool had sent the data file to Jack Hasenpfeffer; it cannot be concluded easil y that Jack Hasenpfeffer was responsible for the theft of the marketing plan. ... ack Hasenpfeffer's personal system; but the moot question here is if these addresses were the only ones available to Jack Hasenpfeffer and if there were no possibilities of using the hacking tool from any other address. In fact, Megagargantuan's investigations have left out the vital fact that they had examined all case of firewall intrusions in the under consideration time interval. However, one fact of Megagargantuan's investigation is a grave point that stands against their own case; they have conceded that a copy of the disputed information was found on Megagargantuan's servers. This still leaves us at the above conclusion that the marketing software was accessed and received at Megagargantuan's servers; however, the act cannot be readily attributed to Jack Hasenpfeffer. Question 2: (1/3 page answer) Assuming that both you and T. William Stoat testify in the trial of the case presented in Fact Set 1, is the expert testimony based on sufficient facts or data Is the testimony the product of reliable principles and methods Have the principles and methods been applied reliably to the facts of the case The testimony of both the experts cannot be considered to be based on reliable principles and methods. In fact in Trigraph investigations-which have given rise to testimony facts- it is already pointed out that they picked the thread from one step ahead of the step required to be taken up. They totally bypassed the collecting information and data on the chat room boasting by Jack Hasenpfeffer. This would have provided circumstantial evidence to Jack Hasenpfeffer's involvement even if the use of hacking tool could not be attributed to him. Moreover, the tools used to obtain system images are labeled as popular public software in Trigraph investigations.

The impact( positive and negative) on the customer relationship Essay

The impact( positive and negative) on the customer relationship management in the hospitality and tourism - Essay Example 221) stated that CRM has many definitions depending on different people and their industry and in most cases it is also referred to as relationship marketing. CRM can be defined as a marketing method that allows a company or an organization to use its available resources to establish a lasting relationship with customers, thus gaining a competitive advantage compared to its competitors (Mohammed & Rashid 2012, p.221). It can also be defined as a method of retaining clients using after sales strategies. CRM, if properly implemented, can be suitable for the hospitality and tourism industry considering that hotels and other industry players get lots of information regarding their clients. An effective CRM programme should ensure that the customers get the best experience, decrease management cost, source new customers and increase profitability (Sotoudeh 2006, p.1). This paper will critically look at  the impact of the customer relationship management in the hospitality and tourism. A dvantages Marketing CRM is an activity that helps to source for customers and retaining them (Ku 2010, p. 1085). CRM focuses more on retaining existing customers for repurchase than recruiting new customers as well as increasing client base through referrals from the existing clients. In most cases, companies use the available resources such as the employees, technologies and their databases to set up this system. These methods are cheaper than advertising and marketing to new customers. It ensures that the company grows their customer from the existing customer base. CRM can also help to indentify the lost customers or those that are almost moving out, to ensure they are won back. Long lasting relationship also helps to minimize the effects of the competition through word of mouth by their customers. They benefit financially due to a lower marketing cost. Ensuring Customer Satisfaction Customers should get value for their money from the services paid for. Repeat customers feel atta ched to the service providers and thus are able to bond with companies’ employees. The existing database can be analysed by the company to improve the services offered. In the hospitality sector, there is direct interaction between the company or its employees and the customers as they deliver their services. Proper interaction helps service providers understand their customers and thus help them develop proper plans that suit the customer’s needs. Having a direct interaction helps to develop trust between the involved parties. According to the study by Hashem (2012, p. 132) in Jordan, most hotels that use CRM has higher customer satisfaction. Relationship marketing together with CRM translates to repeat customers and customer loyalty (Shirazi & Som 2011, p. 82). Increase in Revenue Well designed CRM should help a firm reduce cost and increase revenue by enhancing client loyalty. It helps to put together information from within and without the organization. This inform ation can be used by the company to understand the market trends and specific customers’ needs. CRM helps to ensure customer satisfaction and, therefore, long term relationship. Company’s personnel interact directly with the consumers and their actions impact directly the customers (Kattara et al. 2008, p. 310). Good service by the employees leads to

Online shopping players Case Study Example | Topics and Well Written Essays - 500 words

Online shopping players - Case Study Example This is to ensure that the goods arrive when and where the customers need them. There are three online stores focusing on the above factors for marketing their merchandise; they are the focus of this paper. Lane Crawford deals with fashion items. The website is very easy to navigate through. The very first tabs are ‘Women’, ‘Men’, ‘Lifestyle & Gifts’, and ‘Discover’ in that order. Anyone looking for designer clothes and fashion accessories for women just needs to click the first tab and several options are shown. The individual can click on the various designer brands or select the shoes, clothing, bags, and other accessories they need. The business offers free international delivery. In Net A Porter, the second online marketplace for high-end fashion products, the statement â€Å"The world’s premier online luxury fashion destination† meets the customer. Like in Lane Crawford, navigating through this website is quite easy too. The main difference, however, is that the options are more in Net A Porter. The very first tabs contain the items ‘Sale’, ‘What’s New’, ‘Designers’, ‘Clothing’, ‘Bags’, ‘Shoes’, ‘Accessories’, ‘Lingerie’, ‘Sport’, ‘Beauty’, ‘Gifts’, ‘Magazines’ in that order. Such neat layout of items is what makes it easy for customers to reach for whatever they are looking for. After clicking on say bags, a few items will present the customer but they can also go ahead and select the type of the bags they need or even the designer of the bag from a list of options on the left hand side of the items. Luisaviaroma is another luxury shop. The layout is quite similar to those of the above shops only that there is a slideshow of photos showing individuals wearing custom made attires. Nonetheless, the very first tabs are ‘Men’, ‘Women’, ‘Kids’, ‘Home’, ‘Designers’, and ‘Sale’ in that order. While this presents an easy way to navigate

Personal Statement Example | Topics and Well Written Essays - 1000 words - 4

Personal Statement Example Other than the passionate desire to study engineering, my environment thus far has extensively molded my aspirations and outlook in life. For instance, my college, St. Joseph’s, sparked an interest in me to study daily applications of engineering. As a result, I have gained a habit of being analytical; evaluating everything I encounter either in secondary information sources, like the Cuban Missile Crisis or in real life, like the basic operation mechanism of a refrigerator. This investigative tendency continues to spur my curiosity in mechanical engineering. I also recognize the fact that, mechanical engineering makes it possible for one to comprehend not only why gadgets work, but also their inherent working mechanism. My home city is also an inspiration, especially given its status as one of the world’s ports. The ability to coordinate all the ships that dock or leave port requires intensive mechanical engineering work and knowledge. Therefore, I acknowledge the impo rtance of the discipline, having had the opportunity to observe it in practical applications. The cultural diversity of Hong Kong also equips me with a unique set of skills, that is, the ability to fit in and interact productively with members of different cultural backgrounds. As a St. Joseph’s graduate, I have had the opportunity to explore diverse activities and not just academics. I developed enthusiasm for cross-curricular activities, given the fact that the college encourages students to be all rounded. Other than representing my college in water polo and tennis, I pride myself in having been a leader of the school’s drama club. This gave me a unique chance to work with numerous schools in successful production of plays meant for the public. While I may not be an excellent dramatist or actor, I gained the position for my ability to direct a team and coordinate creation of functional stage props. The experience was rather exhilarating since I was able to combine m y passion for engineering with artistry and attain an outcome that earned me respect and recognition. It was also intriguing to formulate solutions to deal with basic engineering problems like stability, which are often undermined and mostly studied theoretically. Although it was initially difficult to coordinate the team, it later became an exemplary experience to explore different scientific aspects in dealing with emerging engineering challenges. I learnt that although it is rewarding to get successful outcomes in the end, the teamwork and progress involved in the course of development are highly significant. The Joint Drama Club production also taught me a lot about being a responsible leader and about efficient time management. These are crucial aspects in balancing hobbies and academics, as well as, work in the future. Whenever I watch car rallies like NASCAR’s on television, or even pass by sports vehicle showrooms, I cannot help but imagine myself being actively invol ved in their manufacturing process. Studying a distinguished mechanical engineering program in an overseas university like yours will certainly be a step towards achieving this dream. Personal Qualities, Talent, Accomplishment and Contribution Growing up, I have discovered that communication is extremely important for an engineer. This aspect that is extremely crucial in recognizing success. Nevertheless, I have learnt that communication is not an easy aspect especially when dealing with many people. This needs a lot of self discipline and patience in order to be good in dealing with customers and

South East Asia Currency Crisis Essay Example | Topics and Well Written Essays - 3500 words

South East Asia Currency Crisis - Essay Example These factors included currency speculation, financial imbalances, exchange rate collapse, high inflation rates, excess borrowing and investment in the these countries that were facing crisis, trade deficits, political inflexibilities, and to some extent restrictions imposed by IMF package. As a result, the impacts resulted in the stock market failure, currency depreciation, decline in per capita GDP, excessive borrowing to save the economies, investment withdrawal, international agencies bank ratings to those exposed to the crisis, and fluctuation of imports and exports affecting the countries’ return. Some countries relied on the IMF to provide capital to stabilize the exchange rates and prevent further liquidity in those countries. Other measures involved reforming the monetary policies, financial regulation and asset management. While a country like Japan solved their bankruptcy case with their reserves, other comparative nations in the crisis had depleted theirs. Studying the crisis is a constant reminder of how worse a currency and stock market failure can become a contagion in linked markets. It also allows researchers to examine how each economy solved the crisis after spreading from Thailand, exploring the differences in policies taken and

Personal Statement Example | Topics and Well Written Essays - 1000 words - 4

Personal Statement Example Other than the passionate desire to study engineering, my environment thus far has extensively molded my aspirations and outlook in life. For instance, my college, St. Joseph’s, sparked an interest in me to study daily applications of engineering. As a result, I have gained a habit of being analytical; evaluating everything I encounter either in secondary information sources, like the Cuban Missile Crisis or in real life, like the basic operation mechanism of a refrigerator. This investigative tendency continues to spur my curiosity in mechanical engineering. I also recognize the fact that, mechanical engineering makes it possible for one to comprehend not only why gadgets work, but also their inherent working mechanism. My home city is also an inspiration, especially given its status as one of the world’s ports. The ability to coordinate all the ships that dock or leave port requires intensive mechanical engineering work and knowledge. Therefore, I acknowledge the impo rtance of the discipline, having had the opportunity to observe it in practical applications. The cultural diversity of Hong Kong also equips me with a unique set of skills, that is, the ability to fit in and interact productively with members of different cultural backgrounds. As a St. Joseph’s graduate, I have had the opportunity to explore diverse activities and not just academics. I developed enthusiasm for cross-curricular activities, given the fact that the college encourages students to be all rounded. Other than representing my college in water polo and tennis, I pride myself in having been a leader of the school’s drama club. This gave me a unique chance to work with numerous schools in successful production of plays meant for the public. While I may not be an excellent dramatist or actor, I gained the position for my ability to direct a team and coordinate creation of functional stage props. The experience was rather exhilarating since I was able to combine m y passion for engineering with artistry and attain an outcome that earned me respect and recognition. It was also intriguing to formulate solutions to deal with basic engineering problems like stability, which are often undermined and mostly studied theoretically. Although it was initially difficult to coordinate the team, it later became an exemplary experience to explore different scientific aspects in dealing with emerging engineering challenges. I learnt that although it is rewarding to get successful outcomes in the end, the teamwork and progress involved in the course of development are highly significant. The Joint Drama Club production also taught me a lot about being a responsible leader and about efficient time management. These are crucial aspects in balancing hobbies and academics, as well as, work in the future. Whenever I watch car rallies like NASCAR’s on television, or even pass by sports vehicle showrooms, I cannot help but imagine myself being actively invol ved in their manufacturing process. Studying a distinguished mechanical engineering program in an overseas university like yours will certainly be a step towards achieving this dream. Personal Qualities, Talent, Accomplishment and Contribution Growing up, I have discovered that communication is extremely important for an engineer. This aspect that is extremely crucial in recognizing success. Nevertheless, I have learnt that communication is not an easy aspect especially when dealing with many people. This needs a lot of self discipline and patience in order to be good in dealing with customers and

Jollibee Essay Example for Free

Jollibee Essay Tony Tan Caktiong’s Jollibee has been one of the most admired, most copied, most innovative and most professionally-run company here in the Philippines. It has been the number one fastfood chain overtaking giants such as Mc Donalds and Kentucky Fried Chicken or KFC. How did a local jolly red bee knocked down a multinational red-haired clown named Ronald? Let’s see another inspiring story of the founder of one of my ideal businesses. With its success, a Jollibee franchise has now a tag price of P25+ Million (US$ 500,000+). Wow! Tony Tan Caktiong’s Life and his Jollibee company is another rags to riches story of an entrepreneur that truly inspires everyone. Tony was the third of seven siblings born to poor parents who migrated from the Fujian province in China to look for a better life here in the Philippines. Tony to return back to Manila and pursue his course Chemical Engineering at the University of Santo Tomas (UST). In 1975, Tony and his colleagues went on a visit to a Magnolia Ice Cream plant located in Quezon City and learned that it was offering franchise when he saw a poster for it. By the month of May, with his family savings, he took P350,000 to grab the franchise opportunity and opened two Magnolia ice cream parlors named Cubao Ice Cream House. They all worked hands-on but as the business propels, they noticed they could not do it all so they started to set up an organization hired store managers, and trained people. Tony started with just two ice cream. Then after two years, he offered chicken and hamburger sandwiches, because customers were telling them they didn’t want to be eating ice cream all the time. They prepared the food in the back kitchen, and soon noticed that people were lining up more for hamburgers than for ice cream. Then in 1978, when they already had six ice cream parlors, they asked themselves: â€Å"Why don’t we change into a hamburger house?† That was also the time they decided to incorporate and realized they needed a brand name. They were looking for a symbol that would represent the group, and because Tony was very impressed with Disneyland characters, they decided on a bee. The bee is a busy creature that produces honey – one of life’s sweetest things. They thought it would be a very good symbol to represent everybody. They decided they would all be very busy and happy at the same time, because if they were busy but not happy, it would not be worth it. That’s why they put the word jolly and just changed the â€Å"y† into â€Å"i† to form a brand name JOLLIBEE. â€Å"It wasn’t long before we heard that the multinationals were coming in – including McDonald’s. Friends started asking us if we were going to get a McDonald’s franchise but I remember saying, if you franchise, you can’t grow outside the Philippines†, says Tony.