Coke Financial Structure Essay Example

Coke Financial Structure Essay [pic] Andrea R. Hart GB550: Financial Management August 24, 2011 The Abstract The topic of this research paper will be about the capital structure of Coca Cola, This paper serves as a comparison of debt and equity. It will help determine the true value of the company while also determining what their free cash flow is and the risk level for the organization. The question that this research will try to answer is if the 125 year old company is financially ready for another 125 years. The company needs to remain liquid and keep its operating costs low during times of inflation. The methodology that will be used will be multiple financial ratios to determine how the organization is operating and compare to times of exponential increases in profits. My expected findings will be that Coca Cola will have a minimal amount of free cash flow. There would be enough to remain liquid but also to remain flexible in starting new product lines or new investments. Coca Cola already operates in over 200 countries and should seek to expand advertising efforts in recently adopted countries. I anticipate that the company has endured over 125 years of economical, political and social upheavals. I hope to conclude that although there could be unpredicted unprecedented environmental events that Coca Cola will be able to continue operate. Table of Contents A preview of capital structure issues†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦4 Business and financial risks related to capital structure†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 5 Modigliani and Miller’s [MM] capital structure theory †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 6 Criticisms of the MM model and assumptions†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦6 Capital structure evidence and implications†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã ¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦7 Estimating the firm’s optimal capital structure†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦8 References†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦9 A preview of capital structure issues Capital structures of companies are based on the amount of debt and equity a company holds. When a company begins to increase their debt the company becomes more of a risk to investors because the company now has a higher chance that it may not be able to repay its debts. Although if there is more debt an organization taxes can be reduced because the organization is able to take out what it must pay as interest to investors and holders from being taxed. We will write a custom essay sample on Coke Financial Structure specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Coke Financial Structure specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Coke Financial Structure specifically for you FOR ONLY $16.38 $13.9/page Hire Writer The higher cost of capital translates into a lower fair value estimate, and vice versa; furthermore, seemingly small changes in cost of capital can make a significant difference in a stocks fair value (Kathman, 2002). The giant beverage maker, that’s in a fairly stable environment does not have very much debt. The company in the non-alcoholic beverage industry, Coca Cola’s cost of equity of 8. 6% when the industry average is 11. 67% and is a large influence on the WACC of 8. 4%. Although the company incurs an 8. 6 % cost on the equity the company has averaged a return on equity for the past five years of 30. %. A Company with a high weighted average cost of capital could be considered a risky company or a company in a risky industry that mainly uses equity for funding. Coca Cola’s debt to equity ratio is 23% however the total debt to equity has been on average for the past five years at 51% showing that the company uses only half debt to finance growth within the company which is accurate for a company that is not quite so capital intensive. Although the company finds itself in a well established industry, it must still make investments and use 51% of debt to finance the new growth. WACC and Free Cash Flows impact a company’s value. FCF is what would come back to a company after the investment was made to enhance the company. FCF can determine if it is worth to take on an investment. Coca Cola’s current Free Cash Flow is -546. 8 (COCA COLA CO (NYSE:KO ), 2011). Business and financial risks related to capital structure There are many factors that could play into the financial risk of Coca Cola. The company itself, affiliates, subsidiaries, licensed distributers and bottlers are a risk factor to Coca Cola. Bottlers generate a significant portion of Coke’s net operating revenues by selling concentrates and syrups to independent bottling partners. In 2009, approximately 79 percent of our worldwide unit case volume was produced and distributed by bottling partners in which the Company did not have a controlling interest (ITEM 1A. RISK FACTORS, 2010). The company also operates internationally which is additional business and financial risk to the company. International economies and political environments become a risk to an American investor when considering purchasing securities. Some business risk of the company includes the availability in Coca Cola’s special ingredient of extracted coca leaf, the sustainment of a network that spans 200 countries, health concerns that cause a reduction in market demands. For the company to ensure that it has enough cash flows must be able to have the infrastructure to handle the large amount of demands. Being that Coca Cola is an international company it has opened its doors to many more financial risks. Risks with their international counterparts include fluctuations in foreign currency and exchange rates effecting financial results (ITEM 1A. RISK FACTORS, 2010). If interest rates rise or new tax laws are set it would negatively impact net income. Increase in costsdue to shortages of supplies or materials to produce products or changes in accounting standards can all affect the risks of the company. Coca Cola monitors exposure to financial market risks using several objective measurement systems, including value-at-risk models. Value-at-risk calculations use a historical simulation model to estimate potential future losses in the fair value of our derivatives and other financial instruments that could occur as a result of adverse movements in foreign currency and interest rates (ITEM 7A. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK, 2011). Modigliani and Miller’s [MM] capital structure theory The underlying and basic assumption of the Modigliani and Miller Capital Structure Theory is that there is no major difference if a company were to fund its operations with the use of debt or using equity. The 1958 Modigliani-Miller Theorem was initially designed to show that the corporations capital structure decisions are not value increasing or decreasing; it has, however, become apparent that the theorem is far more general (MacMinn, 2011). The theory rests on assumptions that there are no brokers or bankruptcy costs, no taxes and that investors can borrow at the same rate as the corporations and that EBIT is not affected by the use of debt. In 1991 Miller explained that the theory any gain from using more of what might seem to be cheaper debt is offset by the higher cost of now riskier equity and given a fixed amount of total capital, the allocation of capital between debt and equity is irrelevant because the weighted average of the two costs of capital to the firm is the same for all possible combinations of the two (Villamil, 2010). Criticisms of the MM model and assumptions The same assumptions that the Modigliani and Miller Capital Structure Theory is based on have been criticized. While the three Modigliani and Miller propositions make good sense and have become widely known there has been disagreement. Capital Structures that are designed to enhance value, the majority of the value is from the decisions that are made by financial managers. The value in the company is from the strategy that makes and it is the duty of the financial manager to make sure that the capital structure supports the strategy that the company is trying to pursue. Further, Coca Cola, initial strategy was to sell Ice cold Coca Cola’s to its customers. The company was able to successfully change its strategy to only produce the syrup, the process was able to be broken down and both are able to reap values and benefits. By leaving capital structures to be independently determined by the bottlers and distributors, the structure of Coca Cola Holland and Coca Cola Japan to be different. Other theories have been created in spite of the MM model such as the Trade-Off Theory which takes into consideration the costs of bankruptcy. Capital structure evidence and implications Because of the low debt that Coca Cola has it also carries a low rate for taxes. In the last 5 years, half of Coke’s worldwide investments include almost $20 billion dollars in capital expenditures and acquisitions in the U. S. In addition, each year, we invest over $10 billion dollars in our supply chain in the U. S. including $208 million dollars that was spent this past year on supplies (Kent, 2010). In 2010, The Coca Cola Company acquired Coca Cola Enterprises (CCE) assets and liabilities. Coca Cola by purchasing CCE, Coke will have a $100 million net pre-tax income benefit, however after adjusting to the impact of the full value of the stand alone debt Coke will have acquired a $200 million interest expense reduction. However Coke stands to benefit from the overall transaction with a pre tax benefit in 2011 of an estimated $300 million (Investors Information, 2010). CCE is still set to acquire bottlers in Germany, Sweden and Norway as part of the deal. With Coke becoming a producer and now a larger owner in bottling, this has changed the capital structure of the company. Estimating the firm’s optimal capital structure During the acquisition of Coca Cola Enterprises (CCE) assets and liabilities, Coca Cola’s shares decreased while CCE increased. With this transaction, we are converting passive capital into active capital, giving us direct control over our investment in North America to accelerate growth and drive long-term profitability Coke said, with the transactions that are expected to generate operational cost savings of approximately $350 million over four years for Coca-Cola and will add to earnings by 2012 (Gelsi Spain, 2010). The current estimate of Coke’s cost of debt is 7% as well as the WACC. (Coca Cola (KO) Stock Research, Equity Ratings, News Analysis , 2911). If this amount were to increase it is possible that it could also increase the risk to investors. Coke’s beta has been reported at . 59 and for the non-alcoholic beverage industry is average. With their current capital structure Coke has had a steady 6% in revenue growth. The company also recently acquired CCE their debts, liabilities as well as CCE’s acquisitions which is why Coke’s shares declined by 3. % (Gelsi Spain, 2010). These changes were brought about due to economical conditions and felt the need to take over more operations. Although this acquisition effected their shares in the short term, the company has estimated that this change will save the company almost $350 million in operational costs in four years and will begin generating income by 2012. References Coca Cola (KO) Stock Research, Equity Rating s, News Analysis . (2911). Retrieved August 23, 2011, from ValueInvesting 2. 0: http://www. wikiwealth. com/research:ko COCA COLA CO (NYSE:KO ). (2011, August). Retrieved August 23, 2011, from Forbes. Com: http://finapps. forbes. com/finapps/jsp/finance/compinfo/Ratios. jsp? tkr=KO Ehrhardt, M. C. , Brigham, E. F. (2009). Financial Management: Theory and Practice. Mason: South-Western. Freeland, K. , Gabruk, B. , Laidlaw, K. , Levine, J. , Michaels, M. , Schramm, G. (1998, May 4). The Beverage Industry: This One’s on the House! Retrieved August 23, 2011, from Stern NYU. Edu: http://people. stern. nyu. edu/adamodar/pdfiles/cfprojs/beverage. df Gelsi, S. , Spain, W. (2010, Feb 25). Coca-Cola buying CCE North American bottling business. Retrieved Aug 23, 2011, from The Wall Street Journal: MarketWatch: http://www. marketwatch. com/story/coca-cola-buying-north-american-unit-of-cce-2010-02-25 Hines, J. J. (2007, March). Capital Structure with Risky Foreign Investment. Retrieved August 11, 2011, from Harvard Business School: http://www. people. hbs. edu/ffoley/riskycap. pdf Investors Information. (2010, Dec 14). Retrieved Aug 23, 2011, from The Coca Cola Company: ttp://www. thecoca-colacompany. com/investors/pdfs/modeling_2010. pdf ITEM 1A. RISK FACTORS. (2010). Retrieved August 23, 2011, from The Coca Cola Company. Com: http://www. thecoca-colacompany. com/investors/pdfs/10-K_2009/04_Coca-Cola_Item1A-1B. pdf ITEM 7A. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK. (2011). Retrieved August 23, 2011, from The Coca Cola Company. Com: http://www. thecoca-colacompany. com/investors/pdfs/10-K_2006/Coca-Cola_10-K_Item_07a. pdf Kale, J. R. , Noe, T. H. , Ramirez, G. G. (Dec. , 1991). The Effect of Business Risk on Corporate Capital Structure: Theory and Evidence. The Journal of Finance , 1693-1715. Kathman, D. (2002, December 20). Why Discount Rates Matter. Retrieved August 23, 2011, from MorningStarNews. Com: http://news. morningstar. com/articlenet/article. aspx? id=84699_QSBPA=Y Kent, M. (2010, May 19). Enhancing our National Competitiveness. Retrieved August 23, 2011, from The Coca Cola Company: http://www. thecoca-colacompany. com/dynamic/leadershipviewpoints/2010/05/enhancing-our-national-competitiveness-is-not-an-option. html MacMinn, R. (2011). Theorems in Corporate Finance . Retrieved August 23, 2011, from MacMinn. ORG: http://macminn. org/Fin374/theorems/theorems. html The Coca Cola Company. (2011). Financial Statements. Retrieved August 9, 2011, from The Coca Cola Company. Com: http://www. thecoca-colacompany. com/investors/financial_statements. html Villamil, A. P. (2010, March 10). The Modigliani-Miller Theorem. Retrieved August 9, 2011, from Econometrics at the University of Illinois: http://www. econ. uiuc. edu/~avillami/course-files/PalgraveRev_ModiglianiMiller_

The 15 Easiest Scholarships to Apply For

The 15 Easiest Scholarships to Apply For SAT / ACT Prep Online Guides and Tips Scholarships are awesome resources if you’re checking out different ways to payfor college. It’s free money after all- what’s not to love? As it turns out, most scholarship programs have application processes that aren’t exactly lovable. Students generally have to submit a lot ofinformation about themselves: transcripts, GPAs, test scores, resumes, community service activities, and so on. There might even be a few essays and grade requirements thrown in as well. You don’t want to complain- because, again, free money- but these applications sure are tedious when you’re working on college apps, high school courses, and financial aid applications all at the same time. The following easy scholarships have application processes that are a bit more manageable. Some ask you to write short essays, while othersdon’t require any essays at all! The awards might not be as large as some other scholarships out there, but when the application process is so easy, you really don’t have much to lose. I'll start off with some words of warning before getting into the good stuff:essay and no-essay scholarships that are so easy to apply for, you might end up applying to all of them! Caveat: If a Scholarship Seems Too Good to Be True ... Unfortunately, there aren't too many legitimate "easy" scholarships out there. If a scholarship application sounds too good to be true, be cautious- you don't want to fall victim to a scholarship scam! Here are some things to look out for: A scholarship application that asks for personal information that isn't relevant to the award:Many top scholarship programs ask for personal information (transcripts, SAT/ACT scores, and even financial information for need-based scholarships); however, this info is all relevant to candidate evaluation. If you're ever uncomfortable providing personal info for a scholarship program, dig deeper. Can you verify that the program is legitimate? Does it have its own website, or can you only find info about it through a third party? Try Googling "[award name] scam" to see whether anything suspicious pops up. A scholarship that asks you to make payments to enter or win: Scholarship programs are in the business of giving money to students, not taking it. A scholarship program is likely just a scam if the application asks you to make a payment- especially if it asks you to enter credit card information. Now that we've got that out of the way, it's time to get to the good stuff: all the best easy essay and non-essay scholarships and how to win them! These essays won't take you long at all, but they're a good excuse to set up at your favorite cafe. Essay Scholarships The scholarships in this section ask students to submit short essays with their applications. Even though you'll have to write an essay, the rest of the application (and the essay itself) should be easy and manageable for all these awards.In fact, most of these applications shouldn'ttake longer than one to two hours to complete. Bachus Schanker LLC Scholarship This scholarship program is a bit different from most of the other awards included in this post- it's funded by a private law firm in Colorado. Students compete for a $2,000 award by writing a short essay (800 words) about the 7th amendment and how it affects their lives. Eligibility: High school students who have been accepted to a four-year university and university students with a minimum 3.0 GPA Deadline: November 30, 2019 (to win a scholarship for the spring semester), and July 30, 2020 (to win a scholarship for the fall semester) Courage to Grow Scholarship This $500 award is given out to one lucky student every month. To compete for the award, applicants must explain in 250 words why they think they deserve the scholarship. Eligibility:US high school juniors and seniors and college students with a minimum 2.5 GPA Deadline:Last day ofevery month! Odenza Marketing Group Scholarship To compete for this$500 award, applicants must like the Odenza Facebook page and write two short essays of about 500 words each. One essay must be related to travel and your career, and the othermust explain why you should receive the scholarship. Eligibility: Current high school students aged 16-25or students who have at least one year of college remaining. Applicants must also have a minimum 2.5 GPA. Deadline September 30, 2019 MoneySolver.org Scholarships The website MoneySolver.org gives out several $1,000 scholarships throughout the year to US students enrolled in (or planning on enrolling by next fall in) college, university, or trade school. Each of these scholarships involves writing a short (250 words, maximum) essay about the topic at hand. Students are eligible to win up to two scholarships. Emoji Scholarship: Write about what emoji best describes your life and why. Deadline is August 31, 2019. Back to School Scholarship: Write about what you would do if you could go back to high school for one day. Deadline is September 30, 2019. Halloween Costume Scholarship: Write about your favorite Halloween costume that either you or your pet has worn. Deadline is October 31, 2019. Thanksgiving Scholarship: Write about the weirdest thing you were ever served at a Thanksgiving dinner. Deadline is November 30, 2019. Holiday Celebration Scholarship: Write about your favorite way to celebrate the holidays with people you love. Deadline is December 31, 2019. Some of these applicationswon't take you longer than a few minutes. No-Essay Scholarships When it comes to easy applications, you can't get much easier than the following scholarship programs. You'll still have to submit some information about yourself (and, in some instances, complete some brief activities or tasks), but you won't have to write any essays to qualify. AFSA High School Scholarship Here'sone of those scholarships for which you have to complete a few unique activities to qualify. For the 2017 scholarship, students applied byreading about automatic fire sprinkler systems and then taking an eight-question quiz based on the information they read. Ten$2,000 awards are given out each year. Eligibility: Current high school seniors (US citizens or legal residents) Deadline: Likely early April, 2020 Dr. Pepper Tuition Giveaway Students can qualify to win $2,500, $20,000, or even $100,000 in tuition money by writing a short description of how they plan to change the world and recording a video explaining their academic and professional goals. Eligibility: All students aged 18-24 Deadline: Mid-October 2019 Nicholas A. Virgilio Memorial Haiku and Senryu Competition This scholarship program gives out relatively small awards of $50, but the application process is fun and easy. Students qualify by simply writing and submitting up to three original haikus. Eligibility: All students in grades 7-12 Deadline:March 2020 "No Essay" College Scholarship This $2,000 award is given out monthly. To apply for this scholarship, submit an application that includes basicidentifying information, your GPA, and your SAT/ACT scores. Winners are randomly selected, and you can submit a new application every month. Eligibility: High school students, adults heading back to school, current college students, and anyone else looking to attend college or graduate school within the next year Deadline:Last day ofevery month! Stuck at Prom Scholarship Contest Do you have a creative side and an eye for fashion? Students can compete for the grand prize of $10,000(one each for the dress and tux categories)by designing and wearing prom outfits made out of duct tape. Check out the website for fun pictures of past winners! Eight $100 prizes are given to runners-up. Applicants can enter as individuals or as part of a couple. Submissions that get the most votes win prizes, so be sure to recruit your friends to vote for you! Eligibility: High school students in the US and Canada (excluding certain states and territories- refer to the official rules for details) Deadline: April-June 2020 for submissions; July 2020 for voting US Bank Student Union Scholarship Three$5,000awards, one $10,000 award, and one $20,000 award are available through this scholarship program. To qualify, studentssubmit a simpleapplication; you may also earn extra entries by completing up to eight online learning modules on financial literacy. Eligibility: Current US undergraduate students Deadline: October 25, 2019 11:59PM Central Time Because College is Expensive Scholarship This $500 scholarship is awarded to one student four times a year (March, June, September, and December). All you need to do to enter to win the scholarship is to fill out the form on the Cedar Lending website. Eligibility: High school juniors and seniors; current college students; anyone else looking to attend college or grad school Deadline: March 31st, June 30th, September 30th, and December 31st, 11:59 PM EST Save an average of $1000 per semester with our smart college finance tool! Starting to think about applying to college, but worried your funds are going to come up short? Our financial aid tool will help you calculate your likely cost of attendance at public and private schools (including not just tuition, but room, board, and other expenses). We'll also tell you what financial aid you qualify for in addition to identifying scholarships that you would specifically be a good match for. 3 Tips for Winning Easy Scholarships Easy scholarships to apply for aren't necessarily the same as easy scholarships to win. Since these scholarship applications are so simpleto complete, you'll probably have a lot of competition. Here are some strategies to help you submit your best applications possible: #1: If you have to write an essay, you’re likely to be more successful if your views align with those of the entity that’s awarding the scholarship. To prepare, do some research about the company or charity's mission statement. #2: Make sure your application is polished. You won’t have the opportunity to make more than a first impression (remember, these apps are short and sweet!), so double-check for any grammar, spelling, or punctuation errors. #3: Last but not least, be sure that your application is complete and on time! What's Next? These scholarships are excellent options if you want to churn out as many applications as possible. As you might've noticed, though, the award amounts are a bit underwhelming (though keep in mind that several smaller awards can be just as helpful as one big award!). You'll have to spend more time on your applications if you're gunning for a top scholarship, but the payoff can be more than worth it.To learn more about some of the best scholarships out there, check out our guides to thetop scholarships for high school juniors and seniors. Want to improve your SAT score by 160 points or your ACT score by 4 points?We've written a guide for each test about the top 5 strategies you must be using to have a shot at improving your score. Download it for free now:

Climate Change essay Example | Topics and Well Written Essays - 1000 words

Climate Change - Essay Example The difference between the climate change that takes place over long geographical periods and the present climate change brought about by global warming is that whilst the former is a natural phenomenon, the latter is anthropogenic or man-made in origin. The earth’s temperature is the product of a ping-pong game between the sun and the earth. The sun constantly and continuously gives off energy in the form of sunlight and radiates it to the earth’s atmosphere. The solar energy that touches the earth’s atmosphere is either absorbed by some of the earth’s particles or transmitted. The heat that reaches the earth’s surface is then emitted back to the atmosphere as infrared radiation. However, not all of the infrared radiation successfully passes out of the earth’s atmosphere because some atmospheric components absorbs and therefore prevents infrared radiation from entirely leaving the atmosphere, The trapped heat is then eventually reradiates back to the earth’s surface (see Fig. 1). Such heat-trapping components are called greenhouse gases and the process of absorbing, trapping and reradiating infrared heat to the earth’s surface is called the greenhouse effect. The greenhouse ef fect is what sustains life on earth because without it earth would be more than 30Â °C colder than what it should be and therefore, inhabitable by humans, animals and plants. The present global warming is attributed to the more than usual amount of heat trapped and reradiated back by the greenhouses gases to the earth’s surfacea (Great Britain: Department for Environment, Food and Rural Affairs 2006 8; Ebbing & Gammon 210; Hardy 2003 3). There are two classifications of gases found in the earth’s atmosphere: the primary gases made up of nitrogen, oxygen and argon which make up 99% of the gases, and; the trace gases like carbon dioxide (CO2), methane (CH4), carbon monoxide (CO), nitrogen oxides (NOX),

The role of nature and nurture in shaping human behavior Essay

The role of nature and nurture in shaping human behavior - Essay Example The debate over nature and nurture has been a long-standing one. It is an imperative, from Darwin himself, that genes do affect behavior and personality. There still is the reality that each person will have different experiences which brings in the forefront personality traits which may not be mutually exclusive to the genetics of personality. Social encounters would develop a person into a natural process of social evolution in himself (Bouchard, Jr. 102). Genetic engineering may allow parents to choose a child with their preferred color of eyes or towering height or a high intelligence quotient but it’s still not going to determine all the other experiences the child will have in life. As Prof. Lee Silver himself said, â€Å"if people are willing to spend a hundred thousand dollars to get to Princeton, they’re going to be willing to spend $20,000 to give their children an increase chance at life at a genetic level.† The main concern is that traits would be sel ected for purely trivial and aesthetic reasons. The possibility of designer babies suggests that physical and psychological characteristics of a child can be chosen through an elimination process beginning from conception. Super babies whose genetic make-up is specifically selected to ensure superiority could literally be bought by parents.

Marketing Essay Example | Topics and Well Written Essays - 2000 words - 5

Marketing - Essay Example New product development process Idea Generation Idea generates from different sources. It may be by the influence of the competitor or from the customer. Ideas can be either generated from the internal source like through research and development or from the outside sources like competitors or market research agencies. For example with technological development new types of DVD players are in idea generation process which will play high capacity Forward Versatile Disc or FVD of around 6 gigabyte capacity (Grewal, 2008, p. 308). Idea Screening Sometimes too many ideas are generated which needs to be evaluated and then screened which are not very promising one for the company. The Idea screening process of the foremost U.S motorcycle manufacturer, Harley-Davidson is known as â€Å"The Wall of Fire† who screens different ideas to choose the best out of the development opportunities called â€Å"The Swirl† (Karol, Nelson, 2007, p. 118). Concept Development and Testing The i deas which are screened in the idea screening process are forwarded for the concept development and testing of the screened idea. Ideas can be very beneficial for the company in many cases for which proper testing of the concept is required for its feasibility study. In automobile industry Tata Motors conducted a market research in order to find the gap in the market for its fall in the market share of truck during the year 1998 to 2000. It showed that consumers want a to have a car like vehicle but it can perform like a truck which can carry heavy weights for different purposes (Kumar, 2007, p.29). Marketing strategy development After concept testing the marketing strategies like the description of the target market, distribution channels, pricing policy, advertising, marketing mix strategies and profit in long run are evaluated and managed. For example Unisys identified the need of the customers then developed the project management process after analyzing the feasibility, develop ment qualification etc (Lambert, 2008, p. 151). Business Analysis In the business analysis process the proposal for the development of the product is made along with the cost of development, marketing, manpower resources, technical needs, replacement cycle and the estimated sales forecast. Harley-Davidson eliminated the suppliers who only provide them with prototypes and improved their sales with the direct design technique after analyzing the business process (Lambert, 2008, p. 156). Product Development With the acceptance of the business analysis the next stage is the actual product development which translates the idea into real world entity from drawing. Prototypes are often made for different products in order to understand the feasibility through thorough testing process. Like in case of Ice cream maker Ben & Jerry’s they alpha tests their new flavors range amongst the employees of the firm for their feedback (Grewal, 2008, p. 311). Market Testing With successful testin g process and feedback from the prototype the actual final product are made and research is done from the review of the customers. The disadvantage of market testing is that, the competitors came to know about the new product and they can act accordingly. As for example Coca-cola conducted a market testing by launching small eight ounce cans of soda for Coke, Sprite and various other products in Chicago regions. (Grewal, 2008, p. 313) Commercialization / Product launch Market testing process is very essential to decide whether to move for the product launch or commercialization. If any things need to be altered in the product it is done in this stage to suite the market demand (Boone & Kurtz,

Psychological Analysis of Crash (2004)

Psychological Analysis of Crash (2004) Omar Fawzy Cinema Psychology: Crash The movie Crash explains social psychology concepts through stereotypes and people’s relationships. It touches on many social psychological concepts and theories through the representation of American society’s racial diversity and discrimination. The American community contains many races. This diversity, although culturally beneficial, can in some cases lead to conflict. The movie examines a group of different people living in Los Angeles and the social system, which are their social relationships as they come into contact with each other. The characters are reprehensive of American society as they are chosen to show the diversity in the city and there are people representative of the Los Angeles community. The main themes of the movie, which all the rest of the concepts communicate around are discrimination, prejudice and stereotyping. The movie displays the fundamental attribution error concept, also called the correspondence bias, describes, â€Å"The tendency, in explaining other people’s behavior, to overestimate personality factors and underestimate the influence of the situation. (Wade and Tavris, pg 338) This concept portrays racism from both sides. While White people, represented by Sandra Bullock, assume that all African Americans, as well as Latinos as dangerous, the African Americans, represented by Ludacris, assume that all White people are racist. In both cases, they are stereotyping people’s intentions and their nature because of their race. In addition to race, a person’s physical image can also create stereotypes which is â€Å"a summary impression of a group in which a person belives that all members of the group share a common trait or traits (Wade and Tavris, Pg 352) Ludacris is portrayed as a bald guy with tattoos all over his body. His physical appearance also contributes to Sandra Bullock’s stereotype of him as a gangbanger because that is the mental representation she has of these types of people. The Self-fulfilling prophecy theory is also seen in the movie through Sandra Bullock and Ludacris’s relationship. Self-fulfilling prophecy is an expectation that is fulfilled because of the tendency of the person holding it to act in ways that bring it out (Wade and Tavris, Page 493) This was seen when Ludacris noticed that Sandra bullock was afraid of him, and so he attacked her and her husband and hijacked their car. On the other hand, African Americans in the movie, especially Ludacris, assumed that all White people were racists, which is also a fundamental attribution error, as they attributed certain characteristics to people based on generalization. Another social concept that was seen in this example is peer pressure. Ludacris’s friend gave in to peer pressure, the influence exerted by peers upon each other to behave a certain way, when he let Ludacris convince him to hijack Bullock’s car. Another social relationship that portrayed racial stereotypes was Mat Dillon’s Cop character and his partner officer Hansen. While Dillon was portrayed as a racist character, his partner was not racist. That however did not stop him from getting affected by Matt Dillon’s points of view. His automatic thinking led him to hastily shoot a black man hitchhiker because he thought he was pulling a gun from his pocket when he was pulling a small statue of a saint. This was mainly due to priming, which is â€Å"a method for analyzing implicit memory in which a person reads or listens to information and is later tested to see whether the information affects performance on another type of task† (Wade and Tavris, Pg 213) If Mat Dillon had not primed his opinions on Hansen, perhaps he would not have automatically shot the man and assumed bad conduct and threat. Through this storyline we see how stereotypes develop. Although Hansen is not racist, one experience he had with an African American made him think that they are all the same, dangerous. The movie discuses how discrimination becomes a stereotype out of habit. We are shown the evolution of stereotypes throughout the movie. As the stereotype begins initially as just the way people perceive each other, it develops into death threats by the end of the movie. Ryan Philippe displays blunt bystander apathy, where in crowds when someone is in trouble, individuals often fail to take action or call for help because they assume that someone else will do so (Wade and Tavris, Page 347). Ryan does that during the search, as does the husband. The bystander apathy is shown through Ryan Philippe who displays altruism throughout the movie apart from the end. The husband, Terrence Howard, has a bystander effect as well during the first encounter with the police. This changes however, the second time where he shows a misattribution of arousal because he has mixed up feelings and nothing had happened where he had done something wrong in front of the police but he was still furious at the police because of the first encounter, which is why he is mad for no reason the second time. The many social psychology concepts in the movie are represented through the characters. For example, the locksmith, Michael Peà ±a, shows an altruistic personality throughout the whole movie. He prefers to help others with no benefit, and sometimes even a cost to himself. Also, Sandra Bullock represents self-awareness by the end of the movie, as she realizes her personality and that gets angry all the time. She becomes more aware of her actions and behavior. The ‘feel good do good’ theory is shown through Ludacris’s when he frees the Asians from the van, and then laughs out of joy. By helping someone else, he put himself in a good mood. Survival instinct is portrayed in the movie through Ludacris and his friend’s accident. After they run over a man, they deliberated helping him at first because they could have gotten into trouble. This act of pro social behavior was done as a result of the â€Å"feel bad, do good† concept. Their guilt because of what they did made them stop and help him, as well as their desire to save themselves from the trouble they could get into if they are caught. Racism is further portrayed through Matt Dillon’s partner when he goes to the African American chief of police to complain about Dillon’s racist actions against black civilians. The chief refuses to take action because he fears that the racist system of the police department would take away his job. Furthermore, the concept of appraisal theory (Wade and Tavris, Pg 457) is portrayed through Sandra Bullock’s fear, and refusal to express it. As a result, she got attacked with a gun and then goes on to m ake a social cognition, which is defined as â€Å"how people’s perceptions of themselves and others affect their relationships and how the social environment influence thoughts beliefs and values† (Wade and Tavris, Pg 338) and another fundamental attribution error about the locksmith changing the key and going to sell it. Works Cited Tavris, Carol, and Carole Wade.Invitation to Psychology. 5th ed. 2011. eBook.

International Foundation Year Macroeconomics Essay

Question 2a) Explain the meaning of the term ‘inflation’. Along with the development of society more and more problems are brought to our attention, one of which is that ‘inflation’. Nevertheless, with the advance of the human civilization, the living standard increases gradually so the price index and Retail Price Index (RPI) rise gradually as well. Deep down, ‘inflation’ means a persistent increase in all money prices over a period of time which is generally considered to bring costs to society is the form of material, political and psychological costs. Also, the increase must be sustained at some rate before there is inflation and when the price level increases steadily over time. ‘Inflation’ that is to say, it is decrease in the purchasing power and all money prices to the same extent. In economic, inflation is measured as a percentage change in the PRI over a given period of time, for example, if the RPI increases from 100 to 200 in a year, then inflation is said to have increased by 20% that year. In the UK, the Retail Prices Index is most commonly used measure of inflation. Because RPI is measure the cost of living index, it can reflex the money price level such as through the changes in the prices of goods in the shops by households. From the figure 1 illustrate, which show the inflation from 1.9 per cent in 2001 to 3.2 per cent in 2003. Obviously, the inflation rate in UK has increased 1.3 per cent from 2001 to 2003 under the RPI. Nevertheless, in the USA, the Consumer Prices Index (CPI) is usually used to measure of inflation. In addition, GDP deflator can measure the average level of prices as well. Definitely, inflation is either great or slight fluctuation in each year. In economic, creeping inflation and hyperinflation are represent inflation as well. Actually, hyperinflation similarly as inflation but the meaning is quiet difference. Hyperinflation means extremely rapid inflation and the price increase so fast that money largely loses its convenience as a medium of exchange. However, creeping inflation is at moderate rates but persevering over long period. Annual Inflation Rates in UK – 12 month % change Figure 1: Source: Office for National Statistics To avoid inflation and low inflation, this is a Macroeconomic Policy’s objective for a long time. This policy tries to affect the overall performance of the economy. In fact, people have an aversion to inflation. Due to inflation would cause costs of inflation and a number of influences, for instance, redistributions effects, uncertainty possible harming for long-term investment reduces the welfare of people, inflation tax, Balance of Payment, unemployment, damage a country’s competitiveness and create menu costs. Inflation indeed is a positive rate of growth of the general level and it is closely related to the unemployment. Question 2b) Distinguish between demand-pull and cost-push inflation. In economics, demand-pull and cost-push inflation are completely difference. Moreover, they are played a principal role in each nation economic as well. Demand-pull inflation is contrasted with cost-push inflation. Demand-pull inflation means the price increase is transmitted from one sector to another but cost-push inflation means the wage increase is transmitted from one sector to another. Actually, demand-pull inflation describes how inflation starts and cost-push inflation describes why inflation once begun is so difficult to stop. Fist of all, demand-pull inflation is also call demand inflation. It exist is due to excess demand. It means that the resources are not completely sufficient the different regions and sectors of the economy. Demand inflation means the higher aggregate level of activity, the large proportion of areas and industries which experience excess demand for goods and labors of various sorts. Generally, we can know that increase in aggregate demand will cause higher prices and it bring to the society of cost inflation as well. However, cost-push inflation is reverse of demand-pull inflation. Cost inflation is due to increase the factor input cost such as imported goods and raw materials so that cause to raise the prices or wage rates round the economy. Basically, the costs increase would cause the manufacturer to raise prices, soon afterwards, increases in prices cause workers to demand higher wages as well. So the cumulative effect of all these processes cause of passed on in higher prices to consumers and the cost-push inflation is extremely difficult to stop finally. Question 2c) Suggest how a government might tackle inflation. In economics, there are four ways of dealing with inflation. Fist, government can adopt tough incomes policies to keep inflation under control. Second, government can through institutional and constitutional reform to tackle inflation like as fiscal and monetary policies. Third, government can adopt indexing deal with inflation as well. One of the suggestion might tackle inflation is incomes policies. The aim of incomes policy is the attempt to influence wages and other incomes directly. The methods included jawboning, wage-price guideposts, wage-price controls and tax-based incomes policy. Generally, jawboning means the government uses verbal admonitions against those who want to raise the prices of their products. For example, the supermarket in UK cannot increase the prices for all of goods under the government use verbal admonitions against. In addition, wage-price guideposts can restrain the inflation similarly, the government may set up standards for permissible wage and price increase for the private sector to follow. For example, the government may intentionally reduce the wage increase for civil servants so that encourage other employers to control wage increase as well. It can curb inflation efficiently. Moreover, the government can use tax-based incomes policy such as allow the private sector lower taxes for who follow the guideposts and rise taxes for those who violate them. Furthermore, the government may use wage-price controls or freezes may lead to non-price competition. Basically, the government use of wage and price controls can keep prices and wages below their equilibrium levels. From the above, there are a number of goods suggestions for tackle inflation in income policies for the government. On the other hand, the government may change laws and institutions to make it hard for inflation to emerge. Actually, this way takes a long run view because it is not to concern with the temporary costs of first getting inflation down. Nevertheless, the objective is control how to keep inflation down. So the government can through controlling the Central Bank to pass a law permanently restricting the rate of nominal money growth to. Obviously, once the Central Bank going to rise in interest rates, the aggregate demand going to down naturally. After that, the inflation rate can be controlled finally. In addition, unemployment get a closely relationship with inflation, government can adopt the fiscal and monetary policies to curb inflation at the cost of higher unemployment. As we know, once the country have a higher inflation rate so that lower unemployment rate will be accompanied. Conversely, once the country have higher unemployment rate, the lower inflation will be emerged. But this trade-off focuses attention on aggregate demand and disregards aggregate supply. From figure 2c, which express the price level decrease from P1 to P2 due to the Central Bank increase in interest rates, there is evidence that once increase in interest rates would cause to decrease the aggregate demand as well. To put it more simply, there is also indication that rise in interest rates may exert a downward pressure on prices. Figure 2c: A rise in the rate of interest effect. Third, the government can adopt indexing to tackle inflation. Whereas indexation might automatically adjusts nominal contracts for the effects of inflation, any unanticipated inflation and inflation effect can be tackled. For instance, wage rates, pensions, interest payments on bonds, income taxes and many other things can be indexed in this way. Indeed, the purpose of indexing is to reduce the social cost of inflation. However, everything has a good side and a bad side, and indexing is no exception. Some economists worry about that people would diminish the confidence combating inflation even all prices and terms in contracts will be adjusted according to the price index. Historically, indexation has already been introduced in countries that have had to live with inflation rates of 30 or 40 per cent for years. Finally, there are many ways might tackle inflation for government. Income policies, institutional and constitutional reform with fiscal and monetary policies and indexing are the process to tackle inflation efficiently.

The Failed Dream

The Failed Dream â€Å"The Constitution only guarantees the American people the right to pursue happiness. You have to catch It yourself. † These are the words of the American forefather, Benjamin Franklin. His thoughts reflect the theme that runs through each word, idea and aspect of The Great Gatsby, a novel by F. Scott Fitzgerald. The Great Gatsby highlights the flaws of the coveted American dream and how it can never be achieved. Fitzgerald illustrated the different areas of this principle in various characters, such as the Buchanan, George Wilson and, of course, the Infamous Jay Gatsby.These characters exemplify the empty promises of the â€Å"white picket fence† fantasy and the lies that we have been told all through our lives that If we work hard and honest enough, we will receive our reward. The Buchanan, Tom and Daisy, were created by Fitzgerald to show how the rich have their wealth not due to any merit of theirs, as so the American dream claims. Instead, thro ughout the plot, it is revealed how immoral, selfish, and irresponsible the rich are, all the things that one is told not to do to achieve true happiness, yet they have reaped the benefits of the dream. TheImmorality of the wealthy Is best personified through Tom Buchanan, who not only Is a chronic cheater, but also treats everyone else as Inferior to him. Early In the book, one of the first interactions a reader has with Tom is him talking to his mistress while hosting a dinner party with his wife. What is worse is the next chapter consists of him taking Nick, his wife's cousin, to meet this mistress. This shows not only his selfishness, but his lack of any conscience. Even when he discovered the infidelity of his own wife, he failed to see his own fault for the exact crime. Daisy Is no better.She was eager to have an affair from the first mention of It, when Nick called her to come alone. She didn't even consider the repercussions until push came to shove and she was forced to cho ose. â€Å"They were careless people, Tom and Daisy?they smashed up things†¦ Then retreated back to their money or their vast carelessness†(pig 70). This could not better explain this couple. Their only concern was themselves. They gave no regard to anyone but themselves. Daisy, who claimed to love Gatsby, through him under the bus to take the fall for Myrtle's murder and ran into the arms of Tom.Both f them conspired to contently their superfluous life at the expense of theirs. They lived a life which breaks every code of morality and do not deserve their wealth, yet they are the ones who are enjoying the wonders of the fulfillment of the American dream. If the Buchanan are Fitzgerald example of people who have unjustifiably benefited from the American economic system, the opposite is George Wilson who has been cheated out of his inheritance. Wilson is the person the dream claims you should be to achieve It, hardworking, kind and moral.In every scene, except after the d eath of Myrtle, that George appears In, he Is working. He works his heart out yet all he has to show of it is a failed marriage and an empty bank account. As one edges toward the end of the book and the American dream unravels, George becomes the biggest indicator of this, â€Å"He had discovered that Myrtle had some sort of life apart from him in another world, and the shock had made him physically sick†¦. So sick that he looked guilty, unforgivably guilty. Yet even when he discovers the Infidelity of his George's morality is the end when he finally seeks revenge. Granted, he murdered Gatsby, but he did this out of great mental torment and depression and even when e did it, he was filled with such regret that he could not live with himself afterwards. All the other characters, save for Nick, live in their sin without any sense of a conscience. If the American Dream is accurate, then George should be the most successful character in this tale, however, he is instead the pennil ess corpse.Gatsby is an example of someone who earned his American dream; however, he did not do it in the method that is advertised. Instead, Gatsby not only got his money through illegal means but he was also immoral and selfish. His actions, by definition, go against all that is upheld by the American dream so it should not be possible for Gatsby gain all he has. It is believed that if one works hard and is honest they will get their reward, yet we saw this is not true in George.On the flip side, Gatsby was able to obtain a fortune, but through illegal means. Not only is this but he not a hugely moral person though a reader might want to believe that. Instead, he is trying to take a married woman as his own, disregarding her husband, no matter how bad, and her daughter. These are not the actions of a ‘good man'. He was never content with what he had, always looking for more, even as a young man. He did not even care for his family as they were not wealthy and therefore not up to his standards.Gatsby instead did anything achieve success in the exact opposite way in the way one is told they can achieve it. The Great Gatsby seems like the tragic of failed love on the surface, however, it is really the poetic analysis of the tragedy of the American economic structure. One is told to work hard and be good and they will achieve success. Yet Fitzgerald magnified how this is a gross miscarriage of the truth. Instead, the people who have achieved success were handed it on a silver platter, like the Buchanan, or got it through immoral means, like Gatsby.He also shows how people who truly do believe in the dream try and try again but are cheated and never receive their reward, like George. The American dream is the universal aspiration of everyone on the planet. It is the almost religious belief instilled into the hearts of each person, influenced western society, from a young age. Yet only the select few who are already at the top stay there, looking down at th e rest of us as the gap widens; and leaving us to run the pursuit of happiness only to receive the only thing that is guaranteed, death and taxes.

Free Essays on Family Life- A Bug’s Home Or Women Equality

Family Life- A Bug’s Home or Women Equality Throughout history, the family has gone through numerous changes. There were the paterfamilias times where the father’s rule was law, the Chinese ideas of wisdom with age, the 1900s when the dad worked, the wife cooked, and the two and a half kids studied, took out the trash and walked the two and three quarters dogs, and the present where most families depend on a double income from the mother and father. In literature, the lives of families change in accordance to history. This is clear simply upon reading and understanding the text that the author provides. Kafka’s short story Metamorphosis as well as Joan Konner’s article â€Å"Women in the Marketplace† illustrates this point, but in different ways. Kafka touches more upon the single income father, whereas Joan focuses more on women playing a larger role in the workplace while maintaining their stature as the caretaker of the household. Kafka’s Metamorphosis, written in 1912, is a real story told in an outlandish fashion. The story begins as Gregor wakes in his bed and realizes he has transformed into an enormous bug. This would create utter havoc for most people, but Gregor simply takes it in. He says to himself, â€Å"Getting up early like this makes you totally idiotic. People must have their sleep†(K 12). Not to long after, Gregor becomes traumatized. It appears he has missed his train to work and will soon miss the second. After all, Gregor must work to provide for his family. The fact that he is a gigantic insect does not hamper that ideal. As the story progresses, Gregor is able to show himself to his family who flee in terror at the site of him. Of course, they are running from monstrous insect, but symbolically, they could be running from the thought that their sole source of the family’s income is now gone. Whether or not Kafka intended this is unknown, but it remains a worthy issue. Seeing as how Gregor can no... Free Essays on Family Life- A Bug’s Home Or Women Equality Free Essays on Family Life- A Bug’s Home Or Women Equality Family Life- A Bug’s Home or Women Equality Throughout history, the family has gone through numerous changes. There were the paterfamilias times where the father’s rule was law, the Chinese ideas of wisdom with age, the 1900s when the dad worked, the wife cooked, and the two and a half kids studied, took out the trash and walked the two and three quarters dogs, and the present where most families depend on a double income from the mother and father. In literature, the lives of families change in accordance to history. This is clear simply upon reading and understanding the text that the author provides. Kafka’s short story Metamorphosis as well as Joan Konner’s article â€Å"Women in the Marketplace† illustrates this point, but in different ways. Kafka touches more upon the single income father, whereas Joan focuses more on women playing a larger role in the workplace while maintaining their stature as the caretaker of the household. Kafka’s Metamorphosis, written in 1912, is a real story told in an outlandish fashion. The story begins as Gregor wakes in his bed and realizes he has transformed into an enormous bug. This would create utter havoc for most people, but Gregor simply takes it in. He says to himself, â€Å"Getting up early like this makes you totally idiotic. People must have their sleep†(K 12). Not to long after, Gregor becomes traumatized. It appears he has missed his train to work and will soon miss the second. After all, Gregor must work to provide for his family. The fact that he is a gigantic insect does not hamper that ideal. As the story progresses, Gregor is able to show himself to his family who flee in terror at the site of him. Of course, they are running from monstrous insect, but symbolically, they could be running from the thought that their sole source of the family’s income is now gone. Whether or not Kafka intended this is unknown, but it remains a worthy issue. Seeing as how Gregor can no...

Conjugal Visits

Conjugal Visits 5 conjugal visitation can be seen as an earned privilege as well as a control mechanism, whereby the prisoner...

Nestl Essay Example | Topics and Well Written Essays - 2500 words

Nestl - Essay Example As a result business organizations across nations are breaching political and geographical boundaries in an attempt to grab a share of the market. The emergence of developing nations has created numerous opportunities for business organizations so as to expand into different markets. This has triggered a wave of competition among the business organizations to garb each other’s market share. International expansion also poses numerous challenges for multinational firms which have operations in different regions as markets in different nations have distinct consumer tastes and preferences apart from large scale variations in macro economical and political environments. The present study would deal with the aspect of international expansion and its effects on the product and marketing and product mix of the organization. The organization selected for the study is Nestle. The choice of the organization assumes significance considering the fact that the firm has its markets in nume rous regions and has a large range of product mix and categories that cater to many segments of the consumers across the world. About the Company Nestle is the global leader in the food and beverage industry segment and has a significant presence across numerous consumer markets across the globe. The origins of the company date back to the year 1866 when Henri Nestle founded the organization in Vevey Switzerland. The company has since then grown up a long way to emerge as an organization which boasts of its business presence in almost all the major markets of the world with a profit margin of CHF 108 billion providing employment opportunities to about 280,000 individuals. The company’s mission is to provide best quality and highly nutritious food to individuals across the globe (Nestle, 2011). Opportunities and Challenges of International Marketing International expansion has given rise to a new term called ‘Multinational Corporation’. The word multinational in b usiness parlance implies an organization in which the marketing related tasks are formulated in numerous nations and are coordinated across all the markets where the firm operates (Onkvisit & Shaw, 2008, p.5). International expansion throws numerous opportunities and challenges before an organization. On one hand it opens up numerous opportunities in the form of new markets with good potential. Saturation of a particular product line can also be handled by a firm if it introduces the product in newer markets. It also reflects numerous challenges for an organization as large scale market fluctuation and adaption with the local culture and sentiments play a major role in the success of firms in the international markets (Czinkota & Ronkainen, 2007, p.10). Figure 1: The Process of International Marketing (Source: Philips, Doole & Lowe, 1994, p.28) The figure above shows the process of international marketing in multinational organizations. The figure shows numerous challenges such as a ttitude based barriers, unsolicited orders, lack of willingness as well as time frame based commitment to the

Luke and Jesus in Biblical Text Essay Example | Topics and Well Written Essays - 5000 words

Luke and Jesus in Biblical Text - Essay Example Among his first tasks was to call some twelve men who were henceforth his disciples. These were twelve in number. In spite of his being a son of a carpenter, the Bible further teaches that Jesus grew into one of the greatest teaches history has had to offer, and arguably the greatest teacher of his time. Over and above his great teachings, Jesus is reputed as a great healer and performer of miracles. These, together with his great teachings, earned him great fame trough out the land. In the course of time, the Bible records that Jesus fell out with the Jewish religious leaders and teachers (including the High Priest of the time) and was hence closely watched and tracked as his rivals looked for the opportune time to kill him. It was hard for the conspirator to succeed in their mission for some time. They at times feared that the people would riot since Jesus was loved and followed by many people. When they ultimately managed to get him, they effectively accused him falsely and mobilized mobs that ensured that even if acquitted, he would still get killed. They were successful in getting him killed, and this happened on a cross in the hands of the Romans. All these events and occurrences had been foretold in the Old Testament by many prophets who spoke, taught and prophesied in Israel and Judah. It is remarkable that a lot of details about a king in the future had been foretold, and of all figures in history, only Jesus satisfied all that had been spoken. That included being born of a virgin and in the lineage of King David. Given his story, all the prophecies about him as well as the detailed accounts of his life, it is only reasonable to conclude that Jesus was on earth with a clearly defined mission. Whether the biblical text in Luke 4: 14-30 adequately defines his agenda on earth is thus the big question to consider.