Effects of Agriculture Essay Example for Free

Effects of Agriculture Essay Because it was tremendously essential for survival, had a monumental impact immediately on society and continues to affect us even to this day, agriculture was the most influential development of the early civilizations. The people of the first civilizations needed agriculture because it was an easy, more efficient way of obtaining food. The early peoples had to hunt and gather their food, and, â€Å"Hunting depended on the careful observation of behavioral patterns† (Duiker, W. J. Spielvogel, J. J. 2001). It must have been challenging to always be moving and searching, just so they could find food that day. However, deciding to stop and grow food, in one reachable convenient location, would have solved the issue of having to go through all the extra steps of hunting down animals. After a long time of humans living successfully in the Old Stone Age, and ice age occurred cause a devastating drought, which killed off most of the vegetation. â€Å"All living things started clustering around sources such as lakes and river† (Howe, H. , Howe, R. T. 1992). Because all living things clustered around water sources, there was more competition, human and non-human alike, for the already diminished food supply. Naturally, the people of the early civilizations would need to grow their own food in order to sustain their population. Shortly after farming’s conception many life-changing discoveries, like trade, were made. â€Å"Some people became artisan, made weapons, and jewelry that were traded with neighbors† (Duiker, W. J. Spielvogel, J. J. 2001). When people started to farm they began producing more food then they need. These food surpluses allowed people to do other things with their time such as, make weapons and jewelry that could in turn be traded for other people’s goods. The change to farming also immediately affected the relationships between men and women. â€Å"Men assumed the primary responsibility for working in the fields and herding animals, jobs that kept them away from the home. Women remained behind caring for the children and weaving cloth, making cheese from milk, and jobs that required considerable labor in one place† (Duiker, W. J. Spielvogel, J. J. 2001). The men had to go work in the fields because planting, growing and harvesting crops required long hours of great physical labor that the women couldn’t take. Also the work in the fields was seen as more important, and so men assumed a more dominant role in society. Not only did agriculture immediately change society, but the changes it created are still evident today. Trade is done in the almost same way and for the same reasons as in ancient times. People still make goods and perform services in exchange for something else. However, rather than exchanging work for another good or service, people today use the cash system. In the cash system people provide labor so they get money in return. The money they earn can then be used to by various products or services. The relationship between men and women established because of agriculture is prevalent today as well. Not only do men still have a more dominant role in society but they still do more difficult and important work. The standard of men working while the women stay home and care for the house is still typical for families today. If the women do work though, they almost never have physically demanding jobs with long, hard hours like being a construction worker or farmer. Also not only are the vast majority of politicians, C. E. O. s, business owners, and other powerful workers men, but men also more often than not get paid higher than women. Truly, because of the fact the early people needed a more steady food source, it almost instantaneously changed humankind, and it evidently still affects the world today, agriculture was the most significant advancement of the early peoples. Bibliography Duiker, W. J. Spielvogel, J. J. , (2001) Third Edition World History Comprehensive Volume. assBelmont, CA: Thomson Learning, Inc. Howe, H. , Howe, R. T. , (1992) A World History. White Plains, NY: Longman

Psychological Contract: Work-Life Balance in Retail

Psychological Contract: Work-Life Balance in Retail Title: A contemporary analysis of the concept of work life balance and the effects of the psychological contract within the business. Geared towards retail. A compiled list of the 6 main sources of information that could be used with justification as to why they are relevant and a paragraph on key theories/models, analysis tools that would be used in this dissertation. A total of around 600 words. With regard to the paper recently completed, this addendum represents some further thoughts and resources which would be required to expand the work into a wider study. There are three themes which would need to be pursued in a more detailed examination of this topic. The nature of the generic Psychological Contract. The nature of the Psychological Contract in the Retail Sector, and its relationship with marketing. The nature of HRM and SHRM (Strategic Human Resources Management) in the Retail Sector. These themes would need to be explored across a range of material, beginning with secondary sources, and ideally extending into qualitative primary research involving HR professionals, and retail staff themselves. The six main related secondary and primary sources. Guest, D.E., and Conway, N., (2004), Employee Well-being and the Psychological Contract: A Report for the CIPD, Chartered Institute of Personnel and Development, London. This source is essential because it provides an insight into both the agreed definitions of the psychological contract within the HR profession, and the application of that model in their vocational practice. Buchanan, D., and Huczynski, A., (2006), Organizational Behaviour: An Introductory Text, Prentice Hall/Financial Times, London. This source is essential as a prà ©cis of the relevant motivational theories, work of Herzberg, McGregor, Maslow, Adams, Vroom, Porter and Lawler. Analysis of the implications of McGregor’s X and Y theories of reward/coercion, and Herzberg’s concept of extrinsic and intrinsic rewards, as set out in Brooks, I., (2003), Organisational Behaviour: Individuals, Groups and Organisation, 2nd Ed, FT-Prentice Hall, London, and Fincham, R., and Rhodes, P., (2005), Principles of Organisational Behaviour, 4th Edition, Oxford University Press, Oxford. Within the extrinsic and intrinsic reward model, extrinsic rewards may be thought of as those of material considerations and working conditions, whilst intrinsic rewards are more honorific and interpersonal. Hofstede’s cultural dimensions index, as set out in Hofstede, G., (2003), Cultures and Organizations: Intercultural Cooperation and its Importance for Survival, Profile Business, London, and Gerte Hofstede Cultural Dimensions Website, INTERNET, available at http://www.geert-hofstede.com/hofstede_dimensions.php?culture1=95culture2=18#compare [viewed 26.10.08], would need to be employed to assess the different motivational models and tolerances which are increasingly visible in a multi-cultural workforce, and a globalizing retail sector. This would have to take account of Hofestede’s ideas of power distance, collectivism/individuality, long or short-term orientation, masculinity/femininity, and uncertainty avoidance. A comparative study of employee relationships between retail workers in Waitrose and the John Lewis partnership, and an other large retail group, i.e. Tesco’s, Woolworth or Argos. The rationale for this is that the John Lewis group is the only one to deploy an extensive profit sharing remuneration scheme with its employees. Comparative primary study of attitudes between retail employees and customers of the John Lewis partnership, and another, non-profit sharing retail group in the UK. To be carried out through a combination of†¦ questionnaires comprising binary yes/no responses and written answers to set questions. A small number of in-depth and semi-flexible individual interviews. Key theoretical approaches here would be evolved around a balance of phenomenological and positivist research formats, to obtain qualitatively useful data, which could also support statistical models with a possible wider application. McGregor’s extrinsic/intrinsic scale model questionnaire could be employed to lend a positivist dimension to the attitudinal data produced. This paper outlines some key themes in contemporary retailing HRM, focusing particularly on the significance of the psychological contract within the business, and the concept of work life balance. It argues that contemporary economic and trading conditions have tended to expose the way in which both issues are treated in the retail sector, and attributes this to continued trends for tertiary and part-time employment patterns. As Hooley et al. observe, ‘†¦Well developed marketing resources (assets and capabilities), when deployed in the marketplace, can lead to superior market performance. Satisfied and well motivated staff (a prime marketing asset), for example, can make a significant contribution to creating satisfied and loyal customers’ (Hooley et.al., p.21). At boardroom level however, contemporary pressures on costs may impinge upon staff CPD and retention. In the first instance, it may be helpful to foreground the concept of the psychological contract itself. As Sonnetag observes, ‘There is relatively consistent empirical evidence for a positive relationship between specific aspects of individual well being and.performance.’ (Sonnetag, p.4110 ). One way in which this symbiosis between employee motivation and output can be achieved, is through a management style which exceeds the formal terms of the contractual obligation in terms of an equitable relationship. As Williams indicates. ‘..this interpersonal aspect to fairness reminds us that there is a social basis to the exchange relationship between employer and employee and we might expect this to be part of the psychological contract.’ (Williams,1998: p.183). The concept of the psychological contract rests on the idea that workplace relationships inevitably develop beyond those encapsulated in explicit frameworks, hierarchies, and job descriptions. It is there fore perfectly feasible for management to de-motivate staff even though they are formally empowered to do so – by breaching ‘informal’ or psychologically accepted principles. As Guest and Conway point out, ‘†¦built on the three pillars of fairness, trust and delivery of the deal between organizations and employees, a positive psychological contract is the best guarantee of good performance outcomes.’ (Guest and Conway, 2003: p.vii). There is much empirical evidence to suggest that retail employers are acting to redress percived inadequacies in this area. For example, as Murray reports, fast-food giant McDonald’s has acted to improve its image since the term ‘McJob’ entered the Oxford english Dictionary, denoting ‘†¦an unstimulating, low-paid job with few prospects†¦Ã¢â‚¬â„¢ (Murray 2008: n.p.) Part of the response has been to initiate CPD programmes which combine flexible working arrangements with learning programmes to develop staff skills and accreditation. Other retail management and service sector managers also see this as the route to recruit and retain the best staff. As Jack Constantinides, vice-president HR and business partner for Monster for Europe West and Prague explains, ‘People are looking for more from their job than just a chunky pay package – including job satisfaction, career prospects, training, benefits and crucially work-life balance’. (Murray 2008: n.p.). This suggests that, where costs will allow, more mature businesses may see the creation of value as the route to business stability through intrinsic as well as extrinsic employee reward. However, contemporary trading conditions may militate against the expenditure of such on-costs, at least for the time being. As Taylor reports, ‘The disclosure last week that Marks and Spencer wants to reduce redundancy benefits for staff has sparked union fears that the retail group is preparing the way for large-scale job cuts.’ (Taylor 2008: n.p.). MS are obviously not the only high-profile high street victims: As Kilgren and Braithwaite observe of the troubled Woolworth chain, ‘Up to a third of the 1,000 retail division staff at head office may lose their jobs†¦ PwC, auditor to Woolworth’s, pointed to material uncertainties which may cast significant doubt about the companys ability to continue as a going concern.’ (Kilgren and Braithwa ite, 2008: n.p.). When discussing the issue of work life balance amongst retail employees, it is arguably unhelpful to regard this couplet as representative of a homogeneous and undifferentiated employee group. In a sector strongly associated with casualized, part-time, and often female labour, it is important to recognize the way in which different social groups may derive a satisfactory relationship between their home and working lives. As Kirby observes, ‘At a time when female â€Å"returners† are set to become an increasingly significant element in the UK workforce, British retailing remains highly dependent on part-time female labour. At the same time, working conditions appear not to be as attractive as they might be. Pay remains low and career prospects and training opportunities are poor, especially for part-time employees†¦Ã¢â‚¬â„¢ (Kirby 1993: p.205). It is at this point that the psychological contract and work-life balance are arguably drawn closer together, a point which may be reinforced by considering the motivational theories of Adams. As Huczyinski and Buchanan explain, ‘Adams proposed that we compare our rewards (pay, recognition) and contributions (time, effort, ideas) with the outputs and inputs of others. Equity thus exists when these rations are equal. Rewards can include a range of tangible and intangible factors†¦Inputs similarly relate to any factor that you believe you bring to the situation†¦Ã¢â‚¬â„¢ (Huczyinski and Buchanan 2007: p.249). In other words, employers face a range of competing challenges when balancing employee satisfaction with business objectives. Bibliography Braithwaite, T., and Kilgren, L., ‘Woolies plans job cuts in bid to reduce its costs’, Financial Times, 18 September 2008, INTERNET, available at http://www.ft.com/cms/s/0/96ef9e80-8519-11dd-b148-0000779fd18c.html, [viewed 14.10.08], n.p. Murray, S., ‘Staff want more than just their pay packet’, Financial Times, 8 July 2008, INTERNET, available at http://www.ft.com/cms/s/0/eafbdc08-46af-11dd-876a-0000779fd2ac.html, [viewed 14.10.08], n.p. Bromley, R.D.F., and Thomas, C.J., (ed), (1993), Retail Change: contemporary issues, UCL Press, London. Guest, D.E., and Conway, N., (2004), Employee Well-being and the Psychological Contract: A Report for the CIPD, Chartered Institute of Personnel and Development, London. Hooley, G., Saunders, J., Piercy, N., (2004) Marketing Strategy and Competitive Positioning (3rd Edition) Prentice Hall, Essex Kirby, D.A. ‘Working conditions and the trading week’, in Bromley, R.D.F., and Thomas, C.J., (ed), (1993), Retail Change: contemporary issues, UCL Press, London, pp.192-207. Sonnetag, S., (ed), (2002), Psychological Management of Individual Performance, John Wiley and Sons, Chichester. Stacey, K., and Rigby, E., ‘Retail supply chain begins to turn rusty’, Financial Times, 8 Oct 2008, INTERNET, available at http://www.ft.com/cms/s/0/a67ef3ae-94d3-11dd-953e-000077b07658.html [viewed 14.10.08], n.p. Taylor, A., ‘Inquiries on how to shed staff soar’, Financial Times, 25 Aug 2008, INTERNET, available at http://www.ft.com/cms/s/0/6c8bed96-723c-11dd-a44a-0000779fd18c.html [viewed 15.10.08], n.p. Van der Lippe, T., and Peters, P., (2007), (eds), Competing Claims in Work and Family Life, Edward Elgar, Cheltenham. Williams, R.S., (1998) Performance Management: Perspectives on Employee Performance, International Thomson Business Press, St.Ives.

Proposal to Save the Environment Essay -- Environmental Pollution Alte

Proposal to Save the Environment Ever since Ford put out the first main line production car, there has been a market for gasoline. Since then, the automobile has made a humongous impact on the United States, as well as the entire world. This new invention allowed the average citizen to commute to work without the hassle of mass transit and horses. However, with this new supply of automobiles came the demand for the fuel they required to run. It was not known back then that the consumption of these fuels could actually hurt the environment, or even run dry. Today it is commonly known that these fuels aren’t unlimited, or good for the environment. Action must be taken to reduce and eventually eliminate these threats to human existence. That is why I propose to increase the tax on gasoline by one dollar per gallon. The money generated from this taxation would be spent on programs to find an alternative source of energy, stop pollution, and reduce the need for fossil fuels that the earth so heavily depen ds on. Man has used fossil fuels for thousands of years. For millions of years they have rested beneath the earths surface, however, recently man has began to consume these fuels at an incredible rate. The rates are so high that many experts say the earth’s fossil fuel supply will run out in the next century unless alternative forms of energy can be found. Currently one of the most consumed fossil fuels is oil, which in a refined state provides power to a majority of the cars, buses, and planes used every day on this planet. (#1) The consumption of oil is increasing every year, and the earth’s oil reserves are becoming less. With the danger of depleting the planet’s oil supplies, humanity must keep searching fo... ...states where you may find wind turbines, but there are also others were you wouldn’t find them. This is why I would invest more money into the alternative energy sources than alternative fuels. Alternative energy is the future for our nation as well as the earth. By taxing each gallon of gas by a dollar and investing the money into development of my programs would help protect the environment while still supplying the United States energy needs. If you think about it, isn’t it worth one more dollar per gallon to help preserve the earth? Works Cited: # 1 http://www.bydesign.com/fossilfuels/links/html/oil/oil_use.html C 1998-1999-2000 byDesign and PowervisioN for The Greening Earth Society #2 http://www.crest.org/bioenergy/index.html REPP-CREST #3 http://www.afdc.doe.gov/altfuel/biodiesel.html Alternative Fuels Data Center Proposal to Save the Environment Essay -- Environmental Pollution Alte Proposal to Save the Environment Ever since Ford put out the first main line production car, there has been a market for gasoline. Since then, the automobile has made a humongous impact on the United States, as well as the entire world. This new invention allowed the average citizen to commute to work without the hassle of mass transit and horses. However, with this new supply of automobiles came the demand for the fuel they required to run. It was not known back then that the consumption of these fuels could actually hurt the environment, or even run dry. Today it is commonly known that these fuels aren’t unlimited, or good for the environment. Action must be taken to reduce and eventually eliminate these threats to human existence. That is why I propose to increase the tax on gasoline by one dollar per gallon. The money generated from this taxation would be spent on programs to find an alternative source of energy, stop pollution, and reduce the need for fossil fuels that the earth so heavily depen ds on. Man has used fossil fuels for thousands of years. For millions of years they have rested beneath the earths surface, however, recently man has began to consume these fuels at an incredible rate. The rates are so high that many experts say the earth’s fossil fuel supply will run out in the next century unless alternative forms of energy can be found. Currently one of the most consumed fossil fuels is oil, which in a refined state provides power to a majority of the cars, buses, and planes used every day on this planet. (#1) The consumption of oil is increasing every year, and the earth’s oil reserves are becoming less. With the danger of depleting the planet’s oil supplies, humanity must keep searching fo... ...states where you may find wind turbines, but there are also others were you wouldn’t find them. This is why I would invest more money into the alternative energy sources than alternative fuels. Alternative energy is the future for our nation as well as the earth. By taxing each gallon of gas by a dollar and investing the money into development of my programs would help protect the environment while still supplying the United States energy needs. If you think about it, isn’t it worth one more dollar per gallon to help preserve the earth? Works Cited: # 1 http://www.bydesign.com/fossilfuels/links/html/oil/oil_use.html C 1998-1999-2000 byDesign and PowervisioN for The Greening Earth Society #2 http://www.crest.org/bioenergy/index.html REPP-CREST #3 http://www.afdc.doe.gov/altfuel/biodiesel.html Alternative Fuels Data Center

Sirius Satellite Radio, Inc. :: Marketing Business Plan Essays

COMPANY BACKGROUND SIRIUS Satellite Radio was incorporated on May 17, 1990 as Satellite CD Radio Inc. On November 18th 1999 the company changed their name to SIRIUS Satellite Radio Inc, which is the name under which the FCC license to distribute satellite radio was given to. SIRIUS Satellite radio currently offers over 100 of music, news, sports, talk, entertainment, traffic, weather, and children’s programming to subscribers throughout the United States. Their primary source of revenue is through subscription fees, with most of their customers subscribing to SIRIUS Satellite Radio on either a monthly or a yearly basis. They also derive revenue from activation fees, advertising sales on non-music channels and the direct sale of SIRIUS radios, which are currently sold in over 6,500 retail locations around the nation. As of December 31, 2004, SIRIUS has had over 1.2 million subscribers and 375 employees. MARKETS The overall market for Sirius is any consumer that listens to the radio. The target market that Sirius is aiming for is the 100 million automobiles currently on the road today. Sirius only has to gain a small portion of this market to become a profitable company. COMPETITION Sirius faces competition for both listeners and advertising dollars. In addition to pre-recorded entertainment purchased or paying in cars, homes and using portable players, Sirius competes most directly with the following providers of radio or other audio services: XM Radio. Sirius’s direct competitor in satellite radio service is XM Radio, the only other FCC licensee for satellite radio service in the United States. XM Radio broadcasts certain programming that we do not offer. XM Radio service is also offered as an option on various car model brands, certain of which do not also offer SIRIUS radios. Traditional AM/FM Radio. Sirius’s competition also includes traditional AM/FM radio. Unlike SIRIUS radio, traditional AM/FM radio has had a well established market for its services for many years and generally offers free broadcast reception paid for by commercial advertising rather than by a subscription fee. Also, many radio stations offer information programming of a local nature, such as local news and sports, which Sirius does not offer as effectively as local radio. Some radio stations also have begun reducing the number of commercials per hour, expanding the range of music played on the air and experimenting with new formats in order to compete more directly with satellite radio services. Internet Radio and Downloading Devices. Internet radio broadcasts have no geographic limitations and can provide listeners with radio programming from around the country and the world.

malaria Essay -- essays research papers

  Ã‚  Ã‚  Ã‚  Ã‚  It is one of the ten deadliest diseases of all time. It effects men, women, children, and animals. It is in full force in Africa, India, Asia, China, South America, and the Caribbean. This disease is malaria. Nearly 40 percent of the world’s population lives in areas that are effected by the disease.   Ã‚  Ã‚  Ã‚  Ã‚  Malaria is a serious, infectious disease spread by certain mosquitoes. It is caused by infection with the Plasmodium genus of the protozoan parasite. More than one hundred species of this parasite exist. It is capable of infecting reptiles, birds, rodents, and primates. Four species infect human beings, the most common being P.vivax and P. falciparum.   Ã‚  Ã‚  Ã‚  Ã‚  Many animals can get malaria but human malaria does not spread to animals. In turn, animal malaria does not spread to humans. A person becomes infected with malaria when bitten by a female mosquito who pocesses the malaria parasite. The parasite enters the blood stream and travels to the liver, where they multiply. When they re-emerge into the blood stream symptoms appear. By the time most symptoms show up, the parasites have reproduced very rapidly, clogging blood vessels and rupturing cells.   Ã‚  Ã‚  Ã‚  Ã‚  Malaria cannot be casually transmitted. Instead an infected mosquito bites someone with it, and then passes the disease on to the next person bit. It is also possible to spread malaria through contaminated needles or in bl...

Financial Ratios for East Coast Yachts

Question 1: Financial ratios for East Coast Yachts: Current ratio| =| Current Assets| | | Debt-equity ratio| =| Total liabilities| | | Current Liabilities| | | | | Total equity| | =| $14,651,000 | | | | =| $19,539,000 + $33,735,000| | | $19,539,000 | | | | | $55,341,000 | | =| 0. 75| | | | =| 0. 96| | | | | | | | | | | | | | | | | Quick ratio| =| Current Assets – Inventory| | | Equity multiplier| =| Total assets| | | Current Liabilities| | | | | Total equity| | =| $14,651,000 – $6,136,000| | | | =| $108,615,000 | | | $19,539,000 | | | | | $55,341,000 | | =| 0. 44| | | | =| 1. 96| | | | | | | | | | | | | | | | Total asset turnover| =| Sales| | | Interest coverage| =| EBIT| | | Total Assets| | | | | Interest| | =| $167,310,000 | | | | =| $23,946,000 | | | $108,615,000 | | | | | $3,009,000 | | =| 1. 54| | | | =| 7. 96| | | | | | | | | | | | | | | | | Inventory turnover| =| COGS| | | Profit margin| =| Net Income| | | Inventory| | | | | Sales| | =| $117,910,000 | | | | =| $1 2,562,200 | | | $6,136,000 | | | | | $167,310,000 | | =| 19. 22| | | | =| 7. 51%| | | | | | | | | | | | | | | | | Receivables turnover| =| Sales| | | Return on assets| =| Net Income| | | Accounts receivable| | | | | Total assets| =| $167,310,000 | | | | =| $12,562,200 | | | $5,473,000 | | | | | $108,615,000 | | =| 30. 57| | | | =| 11. 57%| | | | | | | | | | | | | | | | | Debt ratio| =| Total assets – Total equity| | | Return on equity| =| Net Income| | | Total assets| | | | | Total equity| | =| $108,615,000 – $55,341,000| | | | =| $12,562,200 | | | $108,615,000 | | | | | $55,341,000 | | =| 0. 49| | | | =| 22. 70%| | | | | | | | | | | | | | | | | Question 2: | | East Coast Yachts| | Yacht Industry Ratios| | | | | Lower Quartile| Median| Upper Quartile| Current ratio| | 0. 75| | 0. 50| 1. 43| 1. 9| Quick ratio| | 0. 44| | 0. 21| 0. 38| 0. 62| Total asset turnover| | 1. 54| | 0. 68| 0. 85| 1. 38| Inventory turnover| | 19. 22| | 4. 89| 6. 15| 10. 89| Receivables turnover| | 30. 57| | 6. 27| 9. 82| 14. 11| Debt ratio| | 0. 49| | 0. 44| 0. 52| 0. 61| Debt-equity ratio| | 0. 96| | 0. 79| 1. 08| 1. 56| Equity multiplier| | 1. 96| | 1. 79| 2. 08| 2. 56| Interest coverage| | 7. 96| | 5. 18| 8. 06| 9. 83| Profit margin| | 7. 51%| | 4. 05%| 6. 98%| 9. 87%| Return on assets| | 11. 57%| | 6. 05%| 10. 53%| 13. 21%| Return on equity| | 22. 70%| | 9. 93%| 16. 54%| 26. 15%|The liquidity ratio shows that the company has less liquidity as compare to the whole industry. East Coast Yachts current ratio is below the median industry ratio and the quick ratio is positioned at the median industry ratio. This indicates that the company may access to short-term borrowing. Referring to the turnover ratio, all the three ratios, I. e. total asset turnover, inventory turnover and receivables turnover are higher than upper quartile industry ratio. This indicates that the company is more efficient among the whole industry in using its assets to generate sales.The financial levera ge ratios, which include the debt ratio, debt-equity ratio, equity multiplier and interest coverage, are all below the median industry ratio, but higher than the lower quartile. This shows that East Coast Yachts is having less debt than the other companies in the industry, but is still within the normal range. The profit margin, return on assets as well as return on equity of the company are higher than the industry median. This shows that the company’s profitability is performing well among the whole industry.As an overall, East Coast Yachts is performing well in the industry, while more concentration would only be required to be placed on the liquidity ratios. Question 3: Return on equity = 22. 70% Retention ratio (b)| =| Net income – Dividends| | | Net Income| | =| $12,562,200 – $7,537,320| | | $12,562,200 | | =| 40%| Sustainable growth rate (SGR) = Return on equity x Retention ratio = 22. 70% x 0. 4 = 9. 08% Increase in assets| =| Assets| x| ? Sales| | | Sal es| | | | =| $108,615,000 | x| (167,310,000 x 9. 08%)| | | $167,310,000 | | | | =| $9,862,242. 00 | | | | | | | |Increase in spontaneous liabilities| =| Spontaneous liabilities| x| ? Sales| | | Sales| | | | =| $6,461,000 | x| (167,310,000 x 9. 08%)| | | $167,310,000 | | | | =| $ 586,658. 80 | | | | | | | | Retention ratio (b)| =| Addition to RE| | | | | Net income| | | | =| $5,024,880 | | | | | $12,562,200 | | | | =| 40%| | | | | | | | Profit margin| =| Net income| | | | | Sales| | | | =| $12,562,200 | | | | | $167,310,000 | | | | =| 8%| | | | | | | | Increase in equity| =| PM x Projected sales x retention ratio| | =| 8% x ($167,310,000 x 1. 0908) x 0. 4| | =| $5,840,055. 94 | | | | | | | | External Funds Needed (EFN)| =| Increase in assets – Increase in spontaneous liabilities – Increase in equity| | =| $9,862,242. 00 – $586,658 – $5,840,056| | =| $3,435,527. 26 | | | | | | | | | | | | | East Coast Yachts| | | Pro forma Income Statement| | | Sales| | 182 ,501,748| | | Cost of goods sold| | 128,616,228| | | Other expenses| | 21,809,455| | | Depreciation| | 5,460,000| (Assume constant)| Earnings before interest and taxes (EBIT)| 26,616,065| | | Interest| | 3,009,000| (Assume constant)|Taxable income| | 23,607,065| | | Taxes (40%)| | 9,442,826| | | Net Income| | 14,164,239| | | Dividends| | 8,221,709| | | Addition to RE| | 5,481,139| | | | | | | | East Coast Yachts| | | Pro forma Balance Sheet| | | Assets| | | | | Current assets| | | | | Cash| | 3,318,214| | | Accounts receivable| | 5,969,948| | | Inventory| | 6,693,149| | | Total| | 15,981,311| | | Fixed assets| | | | | Net plant and equipment| | 102,495,931| | | | | | | | | | | | | Total assets| | 118,477,242| | | | | | | | Liabilities| | | | | Current liabilities| | | | | Accounts payable| | 7,047,659| | | Notes payable| | 14,265,482| | |Total| | 21,313,141| | | | | | | | Long term debt| | 33,735,000| | | | | | | | Shareholders' equity| | | | | Common stock| | 5,200,000| | | Retaine d earnings| | 54,693,803| | | Total equity| | 59,893,803| | | | | | | | Total liabilities and equity| | 114,941,944| | | | | | | | EFN| | 3,535,298| | | Current ratio| =| Current Assets| | Debt-equity ratio| =| Total liabilities| | | Current Liabilities| | | | Total equity| | =| $15,981,311 | | | =| $21,313,141 + $33,735,000| | | $21,313,141 | | | | 59,893,803 | | =| 0. 75| | | =| 0. 92| | | | | | | | | | | | | | |Quick ratio| =| Current Assets – Inventory| | Equity multiplier| =| Total assets| | | Current Liabilities| | | | Total equity| | =| $15,981,311 – $6,693,149| | | =| $118,477,242 | | | $21,313,141 | | | | $59,893,803 | | =| 0. 44| | | =| 1. 98| | | | | | | | | | | | | | | Total asset turnover| =| Sales| | Interest coverage| =| EBIT| | | Total Assets| | | | Interest| | =| $182,501,748 | | | =| $26,616,065 | | | $118,477,242 | | | | $3,009,000 | | =| 1. 54| | | =| 8. 85| | | | | | | | | | | | | | | Inventory turnover| =| COGS| | Profit margin| =| Net Income| | | Inventory| | | | Sales| =| $128,616,228 | | | =| $14,164,239 | | | $6,693,149 | | | | $182,501,748 | | =| 19. 22| | | =| 7. 76%| | | | | | | | | | | | | | | Receivables turnover| =| Sales| | Return on assets| =| Net Income| | | Accounts receivable| | | | Total assets| | =| $182,501,748 | | | =| $14,164,239 | | | $5,969,948 | | | | $118,477,242 | | =| 30. 57| | | =| 11. 96%| | | | | | | | | | | | | | | Debt ratio| =| Total assets – Total equity| | Return on equity| =| Net Income| | | Total assets| | | | Total equity| | =| $118,477,242 – $59,893,803| | | =| $14,164,239 | | | $118,477,242 | | | | $59,893,803 | | =| 0. 49| | | =| 23. 5%| | | East Coast Yachts| | | Original ratios| | Based on pro forma| Current ratio| | 0. 75| | 0. 75| Quick ratio| | 0. 44| | 0. 44| Total asset turnover| | 1. 54| | 1. 54| Inventory turnover| | 19. 22| | 19. 22| Receivables turnover| | 30. 57| | 30. 57| Debt ratio| | 0. 49| | 0. 49| Debt-equity ratio| | 0. 96| | 0. 92| Equity multiplier| | 1. 96| | 1. 98| Interest coverage| | 7. 96| | 8. 85| Profit margin| | 7. 51%| | 7. 76%| Return on assets| | 11. 57%| | 11. 96%| Return on equity| | 22. 70%| | 23. 65%| As noted from above, the liquidity and turnover ratio will remain constant assuming growth precisely at 9. 8%. Debt-equity ratio will decreased slightly while equity multiplier and interest coverage increased, assuming interest remain constant. Slight improvement also noted from profit margin, return on assets and return on equity. Question 4: Growth rate| | 20%| | | | | | | | Increase in assets| =| Assets| x| ? Sales| | | Sales| | | | =| $108,615,000 | x| (167,310,000 x 20%)| | | $167,310,000 | | | | =| 21,723,000. 00 | | | | | | | | Increase in spontaneous liabilities| =| Spontaneous liabilities| x| ? Sales| | | Sales| | | | =| $6,461,000 | x| (167,310,000 x 20%)| | $167,310,000 | | | | =| $1,292,200. 00 | | | | | | | | Retention ratio (b)| =| Addition to RE| | | | | Net income| | | | =| $5,024,880 | | | | | $12,562 ,200 | | | | =| 40%| | | | | | | | Profit margin| =| Net income| | | | | Sales| | | | =| $12,562,200 | | | | | $167,310,000 | | | | =| 8%| | | | | | | | Increase in equity| =| PM x Projected sales x retention ratio| | =| 8% x ($167,310,000 x 1. 2) x 0. 4| | | =| $6,424,704. 00| | | | | | | | External Funds Needed (EFN)| =| Increase in assets – Increase in spontaneous liabilities – Increase in equity| | =| $21,723,000. 0 – $1,292,200. 00 – $6,424,704. 00| | =| $14,006,096. 00| | | | | | | | | | | | | | | | | | East Coast Yachts| | | Pro forma Income Statement| | | Sales| | 200,772,000| | | Cost of goods sold| | 141,492,000| | | Other expenses| | 23,992,800| | | Depreciation| | 5,460,000| (Assuming constant)| Earnings before interest and taxes (EBIT)| 29,827,200| | | Interest| | 3,009,000| (Assuming constant)| Taxable income| | 26,818,200| | | Taxes (40%)| | 10,727,280| | | Net Income| | 16,090,920| | | Dividends| | 9,044,784| | | Addition to RE| | 6,029,85 6| | | | | | | | East Coast Yachts| | |Pro forma Balance Sheet| | | Assets| | | | | Current assets| | | | | Cash| | 3,650,400| | | Accounts receivable| | 6,567,600| | | Inventory| | 7,363,200| | | Total| | 17,581,200| | | Fixed assets| | | | | Net plant and equipment| | 112,756,800| | | | | | | | | | | | | Total assets| | 130,338,000| | | | | | | | Liabilities| | | | | Current liabilities| | | | | Accounts payable| | 7,753,200| | | Notes payable| | 15,693,600| | | Total| | 23,446,800| | | | | | | | Long term debt| | 33,735,000| | | | | | | | Shareholders' equity| | | | | Common stock| | 5,200,000| | |Retained earnings| | 60,169,200| | | Total equity| | 65,369,200| | | | | | | | Total liabilities and equity| | 122,551,000| | | | | | | | EFN| | 7,787,000| | | | | East Coast Yachts| | | Original ratios| | Growth @9. 08%| | Growth @20%| Debt-equity ratio| | 0. 96| | 0. 92| | 0. 87| Equity multiplier| | 1. 96| | 1. 98| | 1. 99| Interest coverage| | 7. 96| | 8. 85| | 9. 91| Profit margin| | 7. 51%| | 7. 76%| | 8. 01%| Return on assets| | 11. 57%| | 11. 96%| | 12. 35%| Return on equity| | 22. 70%| | 23. 65%| | 24. 62%| The growth rate of 20% indicates that the EFN is $7,787,000.Debt-equity ratio will decrease by 0. 05. The profit margin, return on assets and return on equity shows improvement if the expansion plan was taken up, assuming interest and depreciation remain constant. The further expansion may be taken up as it will bring improvement to the company’s profitability. Also, debt-equity ratio is still below 1 hence there is room for the expansion to be taken up. Question 5: Depreciation rate| =| Depreciation| | | | | PPE| | | | =| $5,460,000 | | | | | $93,964,000 | | | | =| 5. 81%| | | | | | | | Cost of new line| | 30,000,000| | |New depreciation charged| | 1,743,220. 81| | | | | | | | | | | | | East Coast Yachts| | | Pro forma Income Statement| | | Sales| | 200,772,000| (Assuming growth rate 20%)| Cost of goods sold| | 141,492,000| (Assuming growth rat e 20%)| Other expenses| | 23,992,800| (Assuming growth rate 20%)| Depreciation| | 1,743,221| | | Earnings before interest and taxes (EBIT)| | 33,543,979| | | Interest| | 3,009,000| (Assuming constant)| Taxable income| | 30,534,979| | | Taxes (40%)| | 12,213,992| | | Net Income| | 18,320,988| | | Dividends| | 9,044,784| | | Addition to RE| | 6,029,856| | | | | | | East Coast Yachts| | | Pro forma Balance Sheet| | | Assets| | | | | Current assets| | | | | Cash| | 3,650,400| | | Accounts receivable| | 6,567,600| | | Inventory| | 7,363,200| | | Total| | 17,581,200| | | Fixed assets| | | | | Net plant and equipment| | 141,013,579| | | | | | | | Total assets| | 158,594,779| | | | | | | | Liabilities| | | | | Current liabilities| | | | | Accounts payable| | 7,753,200| | | Notes payable| | 15,693,600| | | Total| | 23,446,800| | | | | | | | Long term debt| | 33,735,000| | | | | | | | Shareholders' equity| | | | | Common stock| | 5,200,000| | |Retained earnings| | 60,169,200| | | Total equity | | 65,369,200| | | | | | | | Total liabilities and equity| | 122,551,000| | | | | | | | New EFN| | 36,043,779| | | Existing EFN| | 7,787,000| | | Additional EFN| | 28,256,779| | | Depreciation charged from increase in fixed assets at SGR of 20% was $1,743,220. 81. The new plant would cost $30,000,000. The additional EFN would be $28,256,779. The total EFN would become $36,043,779. This would imply that the capacity utilization would be lower next year, since the new plant would expand capacity much more than the required under SGR.

Political Cartoon Analysis

Khaled Khaled Morsi's Unfairness What is the most attractive thing you can find in a newspaper? I guess your answer might be the political cartoon in the last page! Lots of people find that the most interesting and eye-catching part of a newspaper is the political cartoon which sums up all the words in a simple picture which might give more than a whole article would. ?according to Jonathan Burack â€Å"Political cartoons are vivid primary sources that offer intriguing and entertaining insights into the public mood, the underlying cultural assumptions of an age, and attitudes toward key events or trends of the times†(Lawate,2).Never has this quote been more true than it is today in Egypt for the wealth of visual rhetoric there is so much out there because the situation in Egypt has so much to comment on whether it is politically, socially, or economically. Through the use of pathos and persuasive techniques such as irony as exaggeration , the cartoonist, Latuff, is trying to p oint out the indifference of the Egyptian president towards his country while he is giving more care to Palestine . since the start of Morsi's reign, he has been criticized for trying to help Palestine rather than focusing on the problems of his country. Lawate, Importance of a political cartoon in a newspaper,2) The cartoon has an interesting visual, two main characters; one is filling up a police car and the other is trying to fill up an ambulance. The objects I see in the cartoon are two characters in a gas station, one with a police car and the other with an ambulance. They are both refueling their cars but the ambulance man found out that the machine he is using is broken and unavailable. And above the fueling machine there is the currency sign they are using which is the dollar sign.The character that is fueling the police car is the president of Egypt and is wearing a suit with colors matching the colors of the Palestinian flag. As an Egyptian, it's difficult not to get emoti onally involved with the cartoon where we see an indifferent president and a helpless ambulance guy. The cartoonist uses emotional appeal to shed light on the current situation here in Egypt. The president in the cartoon is fueling his police car while he is humming and singing and has one hand in his pocket while behind his back is the ambulance man with his truck who can't find any fuel to fill it up with because the machine is broken.This shows that the president supports the police that defend him more than he cares about the health of his people. Another clear message that makes one involved emotionally with the cartoon is the fact is the president of Egypt is wearing a suit representing the Palestinian flag which clearly shows that he supports them and fueling the police car to go and help the other country rather than attend to his country's problems. Since the start of Morsi's reign, all he cares about is Palestine and trying to aid and lending hands to them which isn't some thing bad but to do that he must first meet all the problems that his country is facing.What is really recognizable in the cartoon is the dollar sign ($) on top of the fuel machine which shows that the currency the president is going to pay the fuel with is a foreign currency rather than the Egyptian pound and by that, he is not trying to help his country's finance and economy to grow. In addition to the emotional appeal, Latuff is trying to use irony to make his point. The two characters in the cartoon are so close but the president is turning his back to the problems while he is also singing although he should be concerned about the country.The president must give attention to the medical treatments and hospitals and help by subsidizing the country with resources that would save his citizens from dying and that he must but Palestine aside until he can solve the consequences that his country is facing. He also should start use the country's currency rather than foreign currency to raise his economy because Egypt is facing a an economic drop . As the quote says â€Å"a picture is worth a thousand words†. A picture can give lots of messages to the audience as we have here in this cartoon, one can understand lots of thing from it just by looking at and without reading the article.Simplicity sometimes is what people look for and is a better way to get into people's brain. outline Lots of people find that the most interesting and attractive part of a newspaper is the political cartoon which sums up all the words in a simple picture which might give more than a whole article would. Latuff here in this cartoon is showing the uncaring of the president to the country. i. Introduction: -attractions of a political cartoon ii. The use of symbols: -the suit -gas station -the 2 trucks iii. Behind the scenes and the irony: -fueling of the trucks uncaring of the president iv. Conclusion: -main message of Latuff's cartoon process memo The changes I did in my second dra ft are first, I added a quote and a citation to the introduction to make it better and longer, then I edited the grammar and spelling mistakes. At last, I checked the comments that my peer partner did for me and edited the essay and made it better . Works cited Latuff. â€Å"Egypt's doctors strike for better wages,† October 2, 2012 http://latuffcartoons. wordpress. com/tag/mohammed-morsi/ http://repository. christuniversity. in/1717/1/1024026_meghana_lawate. pdf Political Cartoon Analysis Khaled Khaled Morsi's Unfairness What is the most attractive thing you can find in a newspaper? I guess your answer might be the political cartoon in the last page! Lots of people find that the most interesting and eye-catching part of a newspaper is the political cartoon which sums up all the words in a simple picture which might give more than a whole article would. ?according to Jonathan Burack â€Å"Political cartoons are vivid primary sources that offer intriguing and entertaining insights into the public mood, the underlying cultural assumptions of an age, and attitudes toward key events or trends of the times†(Lawate,2).Never has this quote been more true than it is today in Egypt for the wealth of visual rhetoric there is so much out there because the situation in Egypt has so much to comment on whether it is politically, socially, or economically. Through the use of pathos and persuasive techniques such as irony as exaggeration , the cartoonist, Latuff, is trying to p oint out the indifference of the Egyptian president towards his country while he is giving more care to Palestine . since the start of Morsi's reign, he has been criticized for trying to help Palestine rather than focusing on the problems of his country. Lawate, Importance of a political cartoon in a newspaper,2) The cartoon has an interesting visual, two main characters; one is filling up a police car and the other is trying to fill up an ambulance. The objects I see in the cartoon are two characters in a gas station, one with a police car and the other with an ambulance. They are both refueling their cars but the ambulance man found out that the machine he is using is broken and unavailable. And above the fueling machine there is the currency sign they are using which is the dollar sign.The character that is fueling the police car is the president of Egypt and is wearing a suit with colors matching the colors of the Palestinian flag. As an Egyptian, it's difficult not to get emoti onally involved with the cartoon where we see an indifferent president and a helpless ambulance guy. The cartoonist uses emotional appeal to shed light on the current situation here in Egypt. The president in the cartoon is fueling his police car while he is humming and singing and has one hand in his pocket while behind his back is the ambulance man with his truck who can't find any fuel to fill it up with because the machine is broken.This shows that the president supports the police that defend him more than he cares about the health of his people. Another clear message that makes one involved emotionally with the cartoon is the fact is the president of Egypt is wearing a suit representing the Palestinian flag which clearly shows that he supports them and fueling the police car to go and help the other country rather than attend to his country's problems. Since the start of Morsi's reign, all he cares about is Palestine and trying to aid and lending hands to them which isn't some thing bad but to do that he must first meet all the problems that his country is facing.What is really recognizable in the cartoon is the dollar sign ($) on top of the fuel machine which shows that the currency the president is going to pay the fuel with is a foreign currency rather than the Egyptian pound and by that, he is not trying to help his country's finance and economy to grow. In addition to the emotional appeal, Latuff is trying to use irony to make his point. The two characters in the cartoon are so close but the president is turning his back to the problems while he is also singing although he should be concerned about the country.The president must give attention to the medical treatments and hospitals and help by subsidizing the country with resources that would save his citizens from dying and that he must but Palestine aside until he can solve the consequences that his country is facing. He also should start use the country's currency rather than foreign currency to raise his economy because Egypt is facing a an economic drop . As the quote says â€Å"a picture is worth a thousand words†. A picture can give lots of messages to the audience as we have here in this cartoon, one can understand lots of thing from it just by looking at and without reading the article.Simplicity sometimes is what people look for and is a better way to get into people's brain. outline Lots of people find that the most interesting and attractive part of a newspaper is the political cartoon which sums up all the words in a simple picture which might give more than a whole article would. Latuff here in this cartoon is showing the uncaring of the president to the country. i. Introduction: -attractions of a political cartoon ii. The use of symbols: -the suit -gas station -the 2 trucks iii. Behind the scenes and the irony: -fueling of the trucks uncaring of the president iv. Conclusion: -main message of Latuff's cartoon process memo The changes I did in my second dra ft are first, I added a quote and a citation to the introduction to make it better and longer, then I edited the grammar and spelling mistakes. At last, I checked the comments that my peer partner did for me and edited the essay and made it better . Works cited Latuff. â€Å"Egypt's doctors strike for better wages,† October 2, 2012 http://latuffcartoons. wordpress. com/tag/mohammed-morsi/ http://repository. christuniversity. in/1717/1/1024026_meghana_lawate. pdf