CEO Overconfidence and Corporate Investment Essay

CEO Overconfidence and Corporate Investment - Essay Example The paper is divided into seven sections, in the first section; Ulrike and Tate have developed a model that predicts that managerial overconfidence leads to positive investment-cash flow sensitivity. The second part they give the data that they used and the third section explains the building of overconfidence instruments and the substitute instruments. The fourth section gives the evidence they collected that supports the idea that CEO’s overconfidence increases the sensitivity of investment to cash flows, the fifth section deals with evidence to support the proposition that CEO overconfidence is more in the equity dependent firms. Section 6 examines the relationship of CEO’s overconfidence to other personal characteristics and section seven is the conclusion. In the first section, they use a 2 period model that shows the effects of a CEO’s overconfidence on a firms investments in an well-organized market. In coming up with the model, they assume that asymmetry of information and agency relationships does not affect the investment decisions of a manger and that the only factor affecting the decisions is the CEO’s overconfidence. ... In section 2, the paper uses data of 477 large publicly traded firms in the United States between the years 1980 and 1994, in order to compare the data on how the CEO’s managed their personal account and the firms account, more information was derived from COMPUSTAT database. The data measured include investments as capital expenditure, cash flow as earnings before extra ordinary items plus depreciation, and capital as property, plants and equipments, and investments and cash flow are normalised with the beginning of the year capital. In addition, information on the CEO’s employment histories is collected where the CEO’s are classified into three groups based on their education history, that is, those with technical education, those with finance education and those with other degrees In the results, the y found out that the out of the 113 CEO’s who qualified the holder 67 selection criteria, 115 of them displayed characteristics of overconfidence in their personal portfolios. From the results there were minimal cases correlation between overconfidence and the firm or the CEO’s characteristics, this relationship was found to be opposite for different subsamples or the different measures of overconfidence used. Some of the alternative explanations to the measures that Gate and Ulrike gave include the following. Inside information, this is where a CEO may decide to lower risk exposure of a company due information that he has on the future stock prices, this information will also influence the investment cash flow sensitivity. The second alternative is signalling where a company would be passing information to the capital markets that its prospects are better than of rival firm, signalling in most

Safeguarding Young People Essay Example | Topics and Well Written Essays - 2000 words

Safeguarding Young People - Essay Example This research will begin with the statement that the world is changing and so are the people living in it. Every day we are bombarded with news of new technology evolving, new cures for the ailing and progress and research in every field. Unfortunately, the changing world has also given us a reason to fear for our safety. Since the 9/11 attacks on the world trade center, terrorism has become the ‘it’ word and our times has seen quite a few examples of terrorism already. The US attacks on Afghanistan and Iraq has instilled fear of attack against all Muslim nations just because terrorism and Islam have time and again wrongly been used concurrently and many times interchangeably. However, the successes and concerns discussed above have all been on the Macro level. It is important that these successes and concerns be judged on an individual level too. At this microscopic level, we can find out lesser issues of life and the little reasons happiness. Scoring a good grade on a term paper might be the source of happiness for a student while family pressures may be a distressing factor. This paper aims to discuss these micro-level problems the youth face in that period from birth becoming young adults. â€Å"Today’s youth is tomorrow’s future†. This adage holds true since children of today will inevitably become important people in the future. Protecting and looking after them is not only a duty of the parents but also of the whole society. Sometime in the future parents will expect their children to look after them, and the society would want that the children take care of the society’s values and beliefs too. ‘Safeguarding’ is the term that is used to describe the caring and protection the youth need against the various harms and risks they unknowingly face each day. (Safeguarding, Page 257) The example in Activity 1 (page 257) helps us to discover the concept and meaning of ‘Safeguarding’. In the example, Carl is described as an outgoing person who hangs out with his friends. He is abused at home so he goes out with some street friends who are of the wrong type and so he gets involved into wrong activities as well resulting in his grades at school to drop. Evaluating this scenario we can say that everybody near him is at a risk of getting hurt. Hanging out with the wrong type of friends may harm the whole society. Being irregular at school and a source of getting bullied also poses risk to the school environment and other students. However a social worker would describe as Carl being at the highest risk. Domestic abuse, bullying, lighting a fire and abusive language are the risks that Carl faces in his life. He might be kicked out of school and since his parents don’t care about him, and end up with his hooligan street friends stealing to live his life and if he gets caught someday, he will end up in prison. This is how easily a person’s life can be destroyed if they are not safeguarded. Therefore it is our binding duty to protect such innocent children and show them the correct path to the future. Problems Faced Children usually perceive their problems to be connected with the broad domains of school, family and friends. These are usually the domains through which the children get to interact with others and learn. Problem such as domestic abuse may lead to pervasive and persistent damage to health. Family and social relationships will inevitably decrease and the child will become anti-social. Getting bullied in school may hamper the education capability of a person and can downgrade the emotional and behavioural development. The child then might just want to hide his social presence and not participate at all in collective activities that are prompted by the society. (Safeguarding, Page 258, 259) (Young People and Welfare, Page 1) It is observed that when young people are able to rid themselves from situations of harm, they make them vulnerable to a different sort of harm that is usually more dangerous. A child, who runs away from home since his father abuses and hits him, might adopt a more passive

The influence of culture on accounting

The influence of culture on accounting Introduction Many studies have demonstrated that culture diversity had influenced accounting practice within national and international borders. Accounting can therefore be said to have been influenced by its environment, which includes the culture of the country in which it is being operated (Nobes Parker, 2008) Mueller et al. (1994), cited in Alexander.et al, also stipulate that each accounting system is a product of its specific culture and environment, and that different patterns of accounting are associated with a range of cultural factors such as societal values, religion, political systems and historical values. It is however no thought that those countries with same or similar cultural values or background are practicing accounting similarly. The purpose of this paper is to critically examine the extent to which these cultural values influence the practice of accounting and how the understanding of the role of culture in accounting can help us understand international accounting standards. The work of Hofstedes cultural value differences and Grays accounting values will be the major focal point of this paper. The relationship that exists between cultural values, accounting values and financial reporting will be examined as well. Key words: Cultural values; Accounting Values; Financial Reporting DIFFERENCES IN CULTURAL VALUES Culture is a way of life of a group of people, which includes the behaviours, beliefs, values, and symbols that they accept, generally without thinking about them, and that are passed along by communication and imitation from one generation to the next. The position that the ideas, meanings, beliefs and values people learn as members of society determine human nature. To support this definition, Hofstede, one of the greatest researchers of culture differences, defined culture as the collective programming of the mind which distinguishes members of one human group from another,( cited in Nobes parker 2008. p 25) For the purpose of comparability, this paper will base its analysis on Hofstedes work on cultural value difference and grays work on accounting values to see their impact on accounting practice and reporting. (Hofstede, 1984 p. 83, 84) defined and summarized four Cultural dimensions as, individualism and Collectivism, Large versus small power distance, Strong versus weak uncertainty avoidance, masculinity versus femininity. He also stipulates that there exist specific relationship in these cultural dimensions. Individualism versus collectivism is how in a society one group will prefer a much closed family system while the other group prefer belonging to an expanded family system. This cultural dimension looks at how society handles interdependence among individuals. The second cultural dimension, large versus small power distance seeks to divide a society between those few powerful groups of people who prefer power to be distributed unequally through institutions and organizations and those who feel that power should be distributed equally. This dimension addressed how a society handles inequalities amongst a people when they occur. The third cultural dimension by Hofstede, is the strong versus weak uncertainty avoidance which is, the extent to which members of a society feel uncomfortable with uncertainty and ambiguity .This feelings leads them to believing in promising certainty and to maintain institutions protecting conformity. He explained that a society with strong uncertainty avoidance maintained rigid codes of belief and behaviour and are intolerant of deviant people and ideas. The weak uncertainty maintain a more relaxed atmosphere in which practice counts more than principles and deviance is more tolerated. Masculinity and femininity, which is the last but not the least of the four cultural dimensions, describes masculinity as the preference, in a Society for achievements, heroism, assertiveness, and material success. Femininity on the other hand was said to represent a society where preference for relationships, modesty, caring for the weak and the quality of life is high. ACCOUNTING VALUES AND CULTURAL VALUES It is based on these Hofstedes classification of cultural dimensional differences that Gray (1988) also proposed a connection between those cultural dimensions and accounting values by specifically identifying four accounting values which includes; professionalism(implies self-regulation by the accounting profession itself) versus statutory (implies control by the government), uniformity (adherence to consistency and detailed regulations) versus flexibility (implies able to amend or adjust to suite a situation), conservatism (implies the tendency to under state profit and assets) versus optimism and secrecy (implies a preference for confidentiality) versus transparency ( implies disclosure of true state of affairs). The first two relates to authority and enforcement of accounting practice at a country level while the second two relates to the measurement and disclosure of accounting information at a country level as (cited in Nobes and Parker, 2008). Grays accounting values and Hofstedes cultural difference can be group into two categories. This paper will like to refer to these two groups as the collectivism category and the individualism category. The individualism category is made up of Professionalism, flexibility, transparency, optimism, individualism, small power distance, weak uncertainty avoidance and femininity. This category has the characteristic of self-reliance or self-interest and therefore in a society where individualism, small power distance, weak uncertainty and femininity dominate, accounting practice and financial reporting is likely to be professional, flexible, transparent and optimistic. Secondly the individuals quest for information to make decision on investments to satisfy his/her personal needs will prefer detailed report of a financial statement. This paper will like to associate this category to that of a capitalist society where the accounting regulations are not part of the common law but rather are in the hands of professional organisations of the private sector as stipulated in Alexander et al. (2009 p. 28). For instance in the UK, accounting laws and regulations are control by professional bodies such as the ACCA, CA, CIMA, and IASB. It can again be said that countries that practice the common law are also likely to practice accounting the same way. They are considered to be capitalism countries since they raises funds from the capital. They include, United Kingdom, Ireland Canada, Australia and the United States of America The second category of Hofstede cultural value difference and that of grays accounting values The collectivism category is made up of collectivism, large power distance, strong uncertainty avoidance masculinity and grays accounting values of statutory control, uniformity, conservatism and secrecy. This category has the characteristics of being control from a common source or being centrally planned. Countries or societies found to be dominant with these cultural and accounting values are more likely to practice accounting in the same way. The practice of accounting in this society or country is control by statutory institutions with detailed rules and regulations. The practice of accounting and reporting in these societies or countries will be geared towards the dictates of those in powers or in control. No detailed accounting is required and secrecy and conservatism dominates in the financial reporting (Kosmala-Maclullich, 2003). Here again this paper will associate this category of a society or a country to that of a socialist country where accounting laws and regulations are enshrine in the coded laws of the country. Governments in these countries use financial reports for their own purpose. The Democratic Republic of Germany adopted the Soviet Unions socialist ideologies after the Second World War. This adaptation included a methodological guidance in designing accounting information systems (Berry, 1982: 1890). Bailey (1990) also stipulates that the Marxism Theoreticians view the western-style accounting as an instrument for the exploitation of workers by the capitalists, accounting and financial reporting was therefore geared towards the dictates of those in authority. Young and David (1999) argued that Accounting activities at the enterprise level were focused exclusively on the preparation of reports required by the planning bureaucracy, and during this period, accounting was only seen as a primary source of information for the provision of financial statistics for the use in the preparation of budget; it was therefore a list of quantities instead of values. Accounting was more or less reduced to a clerical job; there was no professionalism in the practice. Judgemen t of reports (true and fair) was not entertained; standardisation was non-existence and so was the concept of profit, in short accounting standards and procedures were not in existence. Accounting in China Another country worth looking at is china which has a long history of cultural value which is characterise with collectivism, high in power distance, strong uncertainty avoidance and femininity. The Chinese will not mind sacrificing himself for the good collectivism or country (Yao F. 2007). The practice of accounting and reporting is control by the state under the auspices of the ministry of finance and the aim of this control is to gear the practice towards the general benefit of the planned economy. The user of accounting information is mainly the government, because most enterprises in china are owed by the state. The few individual who try to do some investments do not know much about accounting and finance. (Yao F. 2007). Although the state had accounting standards for Business Enterprises, they were just mere basic rules which were issued in conjunction with basic standards, as argued by Lin et al. (2001). There where however restrictions on some important accounting principles such as making provision for bad debts and obsolete inventories, recognition of impairments of assets, disclosure of financial information and many more. Secrecy and conservatism was dominant in financial reporting. Professionalism, transparency and flexibility were non-existence. Accountin g profession was reduced to a very low status. The dynamics of cultural values brought about a change in financial reporting by these countries with strong cultural values. As a result of the world becoming a small village and the growing of Multinational companies across the world, there is the need for comparability of financial Reports since its purpose is to help investors make informed and sound decisions. Based on the fact that the world is becoming a small place and countries need each other for their survival, most of the socialists countries like the East Germany, Portugal, Poland, Italy, and France have all adopted the capitalism system of financial reporting. The Chinese government, also have realise the need for adopting the international financial reporting standard (IFRS) which is being champion by the International Accounting Standard Board (IASB), but yet it only talked about the convergence of the accounting standard and not a totally acceptance. (Yao F. 2001) Conclusion It is quite obvious that cultural values have influenced the practice and reporting of accounting and countries with similar cultural values practicing accounting similarly. With the world becoming a global village and the fast cultural changes across the world, the need for harmonization and convergence of accounting standards was given a serious consideration by centrally planned countries, but a country like China, although have made efforts to embrace international financial reporting system, is still holding on to some of its cultural accounting practices. This is an indication that so far as cultural values remain different, accounting practice will be affected and the only way out is the harmonization and convergence of accounting standards.

Hamlet - Is there Indecision? Essay -- GCSE English Literature Coursew

     Ã‚  Ã‚   The Bard of Avon has in the character of Hamlet (in the tragedy of that name) a hero who has been accused of hesitation and indecisiveness. Are such accusations appropriate? L.C. Knights in â€Å"An Approach to Hamlet† explains the modern appeal of the tragedy in terms of the indecisiveness of its hero: Hamlet is a man who in the face of life and of death can make no affirmation, and it may well be that this irresolution – which goes far deeper than irresolution about the performance of a specific act – this fundamental doubt, explains the great appeal of the play in modern times. The point has been made by D.G. James in The Dream of Learning. Shakespeare’s play, he says, â€Å"is an image of modernity, of the soul without clear belief losing its way, and bringing itself and others to great distress and finally to disaster†; it is â€Å"a tragedy not of excessive thought but of defeated thought,† and Hamlet himself is â€Å"a man caught in ethical and metaphysical uncertainties.† Now I am sure that Mr. James is right in emphasizing the element of scepticism in Hamlet’s makeup – the weighing of alternative possibilities in such a way as to make choice between them virtually impossible [. . .] . (64)    Is there a connection between verbal hesitation and hesitation in action and decisions? Lawrence Danson in the essay â€Å"Tragic Alphabet† discusses the hesitation in action by the hero as related to his hesitation in speech:    To speak or act in a world where all speech and action are equivocal seeming is, for Hamlet, both perilous and demeaning, a kind of whoring. The whole vexed question of Hamlet’s delay ought, I believe, to be considered in light of this dilemma. To a man alienated from his society’s most basic symboli... ...ions: Hamlet. Ed. Harold Bloom. New York: Chelsea House Publishers, 1986. Rpt. from Tragic Form in Shakespeare. N.p.: Princeton University Press, 1972.    Rose, Mark. â€Å"Reforming the Role.† Modern Critical Interpretations: Hamlet. Ed. Harold Bloom. New York: Chelsea House Publishers, 1986. Rpt. from Homer to Brecht: The European Epic and Dramatic Traditions. Ed. Michael Seidel and Edward Mendelson. N.p.: Yale University Press, 1977.    Shakespeare, William. The Tragedy of Hamlet, Prince of Denmark. Massachusetts Institute of Technology. 1995. http://www.chemicool.com/Shakespeare/hamlet/full.html No line nos.    West, Rebecca. â€Å"A Court and World Infected by the Disease of Corruption.† Readings on Hamlet. Ed. Don Nardo. San Diego: Greenhaven Press, 1999. Rpt. from The Court and the Castle. New Haven, CT: Yale University Press, 1957.         

Simulation Review Paper

Running header: Simulation Review Paper Simulation Review Paper HSC/405 January 10, 2012 David Catoe Some point in the lives of many to all there are choices and decisions that are to be made. These individual choices and decisions we make help guide us to a certain destination or point in life where one would like to be. Not to say that reaching these set destinations will be easy to get too but they aren’t hard to accomplish with positive thinking and actions. Financial and economic decisions in a business perspective are difficult and could feel like we are outside trying to look in at times when put in a tough position. My goal is to further review the financial account of a Cardiac care hospital to implant strategies to resolve some ongoing financial concerns. The cardiac care hospital in review is Elijah Hearts Center (EHC). EHC is facing many critical downfalls that are causing financial concerns to arise. Several of those downfalls are; Capital shortage, capital expansion, accounting systems and funding options. Critical thinking, planning and leadership skills are needed to help figure out a new financial process for the organization and that is what will be given and shown in today’s paper. After analyzing and reviewing the current status of the company I must figure out what’s beneficial for the organization in regard to capital shortage. Considering my options I decided to reduce cost in funding by cutting down on staff. This decision I made was hard but considering the facts at hand I made this choice with an open mind and positive thinking. The downsizing of staff has a slight effect on the hospital but nothing to damaging to their functions and operations. Not only have I decided to downsize staff but I have also chosen to change the skill mix. This will better help increase patient volumes and allow for the organization to solve the capital shortfall. As for my choice in loan options I went with loan option one vs. loan option two for a few different reasons. When picking which loan was best it was simple due to the given interest rates and monthly installments which were ery similar in pricing and percentage. However the concern was in that of loan option two. There was a prepayment limitation of 6 represented for loan option two which loan option one had a prepayment limitation of 0. The critical and visual aspect of what was provided helped me in my choices resulting in a solved problem with the capital storage at EHC. Moving on with all the advancements with technology it is considered by Mr. Sanchez to acquire a High-Speed CT Scanner, an X-Ray Machine and a New Ultrasound system. These systems will provide more satisfying quality of care to EHC patients. My given option of ensuring the hospital has these equipment’s are either buying new or refurbished including loan options of a capital or operating lease. Starting with the high-speed CT scanner, after review of my options and looking over the new equipment details I have made a pick. I chose to have EHC invest into a refurbished machine. The choice was the correct one for EHC and its financial status. It is shown that the price is cheaper which also technology for tis equipment is bond to change in a few years. The X-ray machine was tough to choose the right option but I chose a capital lease. The reason was the equipment is new and after the lease ends the company is given an option of purchasing the equipment or not. The capital lease also allows for EHC to claim ownership on their balance sheets within the provided lease period. Next is the Ultrasound system and my decision was between a capital lease and an operating lease. After closer review I believe the operating lease was the best option. The equipment at this point is two years old and change with technology every few years. This would allow EHC to be current with technology and future options of keeping what machinery is needed or if not handing back outdated equipment. As with that said the operating lease is not treated as if its apart of the assets of the company but as a rental. The decisions that I have made were all correct and EHC is now doing better allowing for growths in profits and patient care. Capital expansion is important for EHC so I chose HUD 242 Loan Insurance Program as the best fit. The company is due to have increased revenues within the seventh year of operating the new expansion which allows time for saving. HUD 242 loan insurance program best fits because interest payments begin 8 years after start date. This is perfect and falls in line with the company’s financial status, future revenue and help save funds. The decisions that I have made have proven to provide well for EHC and now the company is back on track and in good financial status. The simulation that was provided served me with great hands on experience and knowledge of how critical thinking can benefit not only me but many others in different ways. The choices that I made just don’t happen in a matter of a minute but took a matter of time. Remember the turtle won the race being steady and careful and that’s how I feel I took this simulation review. I had to review and analyze arrears of different categories trying to figure out the best options for EHC. The financial aspect within a business such as EHC has many different bridges which some might be easy to cross while others are difficult. This simulation did challenge me to consider not only what I wanted for the company but what was best compatible. I worked though the simulation with nervousness but then again I was confident and come out with correct choices. In Conclusion EHC has allowed me a great opportunity to help resolve their financial matters in which all worked out fine. The medical equipment that EHC has now allows for patient to wait in lesser lines for tests or treatments. By being moving more quickly and efficiently patients become less stress when in the hospital. The downsizing of staff at this point was right but in the future more job opportunities will be open allowing for returning staff growth. Since EHC is moving ahead in a positive manner the organization set forth $75 million dollars for an expansion. The expansion called for a plan that HUD 242 loan insurance program could help with in funding. The choices made lead EHC to have good cash flow resulting in a steady income. Introduced were strategies for future and current use and the purpose is that bridges that one though couldn’t be crossed have been crossed through careful thought and analyzing.

Sociology Reflective Essay

‘Social Stratification is the division of large numbers of people into layers according to their relative property, power, and prestige; applies to both nations and to people within a nation, society, or other group. ’ (Henslin, James,2011) There are basically four systems to socially stratify a family. Social class, as one of the systems will be investigated in the following paragraphs. (1) Identification of my family’s social class position and explanations of it: Social class is fundamentally determined by how much wealth you have.Income, education and gender are three major factors that I would consider to determine my family’s social class position. Concisely speaking, I came from a single-parent family which I only live with my mother. My mother is the only person who is officially employed in my family. Her occupation is a salesperson at a beauty centre with unstable income. One other important financial income of our family will be the alimony given from my father who no longer lives with us. Our household income per month is about $10,000. According to the 2006 Population By-census, the median monthly domestic household income (at current prices) was $ 17,250.Although there are only two people in my family, our monthly income is nearly 40% below the median figure in 2006. Individually, my mother does not receive stable income so her monthly income tends to be lower than the median monthly income of an employed individual of $ 10,000. In conclusion, my family’s income is comparably low; especially the data was collected in 2006 which inflation has already been excluded. Education is counted as an essential factor determining social class as it’s believed that well-educated people can always get well-pay jobs with comfortable working environments.As mentioned in the 2006 Population By-census report, people with higher educational attainment generally have higher income than less educated ones. Also, in the past fe w decades, only economically sufficient families could provide educations for their children. There are many middle-aged people nowadays do not have high-school qualifications. Thus, in the past few decades, the more educated a person was, the wealthier his/ her family would be. My mother did not finish high-school education while I have just started my university study. Finally, a very special factor—gender, is considered. ‘Gender is a basis for social stratification. (Henslin, James, 2011) All of us in a family are both females. Even though people in modern world advocate gender equality, women still suffer from gender inequality. Stated in the report of the 2006 Population By-census, the median monthly income from main employment of working men was higher than that of working women by some 30% during 1996–2006. Other than income, clothing, right to divorce and education are restricted in some Middle East countries (e. g. Iran). Hong Kong seems t o be a liberal city but there are still some deep-root traditions and thoughts that limit the social mobility of females.Due to gender inequality, my mother was not allowed to attend high school and she is forced to receive lower pay comparing to her male colleagues with same working titles. To conclude, I would say gender serves as a force that aid pushing down my family’s social status. After the considerations of all these factors, I would place my family as working class or sometimes lower class. In term of Marx’s theory, my family would be the proletariat (workers). In term of Weber’s theory which considers three components of social class, I would still place my family as working or lower class. 2) Prediction of my own social class when I am 40 years old and the possible difference between my current family social class position and the future: It is extremely hard to predict my own social position when I am 40 years old which will be approximately two decades later as our world is never predictable. Nonetheless, if everything reminds unchanged in our world, I will be a clinical psychologist or at least graduate with bachelor degree. Ideally, I will be working for the government as a professional with ‘Iron Rice Bowl’. The salary I get will be higher than average.According to the report on salary scale of common posts in the non-governmental organizations, the monthly salary of a clinical psychologist was $ 30,615 in 2009 which was 2 times higher than the median monthly income in 2006. In 20 years time, my mother will be retired hopefully and I will be the only financial support at home. My occupation, wealth, education level and income will be the main indicators to identify my social position in our society. According to Marx, I remain a proletariat who lacks of class consciousness as I do not perceive an occupation as a clinical psychologist as an exploited worker.According to Wright, I may be on the level of managers or still work ers. I guess I will not own any means of production or labor power but I hope I can still own control over investments or money capital (e. g. a flat unit). In short, from both Marx’s and Wright’s view, my social position will not differ a lot from my family’s current social class position. However, I doubt that their views are relatively simplistic and out-dated so I prefer Weber’s three components of social class (property, power and prestige). At the age of 40, as a professional, I may have a secretary which means I gain power on controlling my subordinates at work.Also, prestige sounds more achievable as a professional with more respects. From his perspective, I may achieve vertical mobility and move to a higher-rank social position comparing to my family’s current social class position. Generally, I believe being a clinical psychologist can upgrade myself from a lower/working class to lower middle class. However, the above assumptions are made under the circumstances that nothing has changed. In my own opinion, there are some essential factors that I have to consider. For examples, the prestige and income I will get for being a clinical psychologist may not be that much as in the past.This is because studying in universities is very common; getting a university degree will be easier than the past. Potentially, there will be more clinical psychologists in Hong Kong and salaries will be lowered when there are sufficient supplies. (3) Considerations of all advantages and/or disadvantages my family’s current social class position provides or poses in helping to determine the social class to which I see myself belonging when I am forty years old: First of all, I would like to state some of the disadvantages at the beginning.Income is an important indicator determining class position. However, my mother’s income can be very unstable (as a typical factor of local working class). She can earn quite a lot this month but earn nothing in the following month. A few years ago while there was a structural change in the industry that I have considered not to continue my study but to work in order to support my family’s expenses. This kind of consideration may appear again if the economic condition is really bad.Although the possibility is very low, income uncertainty can still block my sights from determining my future social class which is possibly determined by my education level. Also, social class is likely to be intergenerational so I am very likely to be part of the working/ lower class but not what I have expected in part (2). One significant advantage is that being a part of the lower/working class provides very strong motivation for me to study harder and move to the middle class rank in the future.When being a part of the middle class becomes my goal, I can easily conclude what social position I will be in my 40s. References: (1) Thematic Report :Household Income Distributionin Hong Kong 2006 Population By-census http://www. statistics. gov. hk/publication/stat_report/population/B11200452006XXXXB0401. pdf (2) Salary Scale of Common Posts in the Non-governmental Organizations w. e. f 1. 4. 2009 http://www. swd. gov. hk/doc/ngo/Salary%20Scale%20of%20Common%20Posts%20wef%201%204%202009. pdf (3) Sociology: A Down-to-Earth Approach (Henslin, James,2011)

Curricular Models Essay

Curricular Models Essay Curricular Models Essay Purpose Statement: The purpose of this quantitative study is to measure the attitudes of experienced teachers’ willingness to change teaching strategies to achieve better results when comparing veteran teachers and new teachers’ achievement test scores at middle school XYZ. Explain how the data will be prepared for analysis. I will collect my data from teacher using surveys and questionnaires and I will preassign a numeric score or value to each response. Once I collect the data I will use summed scores to compute the overall attitudes of new and experienced teachers. Once I score the data I will use a computer program to analyze the data such as Microsoft excel where graphs and tables will be prepared for analysis. Explain how you will analyze the data. I will analyze my data by going back to my research questions and I will be looking for trends in the data to the attitudes of teachers. I will compare groups of the independent variables or just new teachers or just veteran teachers to answer questions that require inferential statistics in order to draw a conclusion. I will be utilizing measures of central tendency such as the mean, median and mode. Explain how you will report the results. I will report my results in the form of tables, figures in the form of bar charts, and line graphs and third I report the results utilizing detail explanations about the statistical results. These results will provide clarification to written information

s Foriegn Policy

Nixon’s Foreign Policy Richard Milhous Nixon was elected President of the United States in 1968. In a low-key campaign, Nixon promised to bring peace with honor in Vietnam and to unite a nation deeply divided by the Vietnam War. Nixon defeated his two opponents, Hubert Humphrey and George Wallace. Nixon entered office in the midst of one of the gravest foreign policy crisis in American history. The Cold War was at its height, hundreds of thousands of American troops were in Vietnam, and the views of society were split down the middle. Nixon with the help of his National Security Advisor (and later became in 1973 Nixon’s Secretary of State) Henry Kissinger felt that it was crucial to change American foreign policy. Nixon and Kissinger felt it was vital to support our interest in the long run, Nixon and Kissinger considered it essential to have a balance of power throughout the world in order to ensure peace as well prosperity. One has to take into consideration geopolitics when discussing balance of power. The main purpose is stability by using different political philosophies based on geography, and self interest. If the main powers pursued their self interest rationally and predictably, and equilibrium would emerge from the conflicting interest (Cowan, par.1). Nixon knew that a strong America was essential to a global balance, and counted on stability to create it. Nixon believed there were three key factors essential to keeping peace: partnership, strength and a willingness to negotiate. Nixon imagined a future in which more pleasant relations among the major powers- the United States, the Soviet Union, China, Western Europe, and Japan- would allow for ventures profitable to all. Through international cooperation these nations might reduce revenue-draining Defense expenditures and prevent the occurrence of costly Third World conflicts such as the Vietnam War (â€Å"Nixon†). Nix... 's Foriegn Policy Free Essays on Nixon\'s Foriegn Policy Nixon’s Foreign Policy Richard Milhous Nixon was elected President of the United States in 1968. In a low-key campaign, Nixon promised to bring peace with honor in Vietnam and to unite a nation deeply divided by the Vietnam War. Nixon defeated his two opponents, Hubert Humphrey and George Wallace. Nixon entered office in the midst of one of the gravest foreign policy crisis in American history. The Cold War was at its height, hundreds of thousands of American troops were in Vietnam, and the views of society were split down the middle. Nixon with the help of his National Security Advisor (and later became in 1973 Nixon’s Secretary of State) Henry Kissinger felt that it was crucial to change American foreign policy. Nixon and Kissinger felt it was vital to support our interest in the long run, Nixon and Kissinger considered it essential to have a balance of power throughout the world in order to ensure peace as well prosperity. One has to take into consideration geopolitics when discussing balance of power. The main purpose is stability by using different political philosophies based on geography, and self interest. If the main powers pursued their self interest rationally and predictably, and equilibrium would emerge from the conflicting interest (Cowan, par.1). Nixon knew that a strong America was essential to a global balance, and counted on stability to create it. Nixon believed there were three key factors essential to keeping peace: partnership, strength and a willingness to negotiate. Nixon imagined a future in which more pleasant relations among the major powers- the United States, the Soviet Union, China, Western Europe, and Japan- would allow for ventures profitable to all. Through international cooperation these nations might reduce revenue-draining Defense expenditures and prevent the occurrence of costly Third World conflicts such as the Vietnam War (â€Å"Nixon†). Nix...

Analysis Of The Vietnamese Tourism Market

Analysis Of The Vietnamese Tourism Market My friend and I have passion in tourism. My friend has several years of experience working for an international travel company in Ho Chi Minh City as a travel consultant cum tour operator. She have strong relationship with five star hotels and restaurants in Vietnam. I have chance to travel to many countries and study international tourism industry. I also have a part-time job as a tour guide for some travel companies. I understand what tourists expect from a knowledgeabe and friendly tour guide , quality service as well. Thus, combining her experience in Vietnamese tourism market and my understanding about international tourists’ demands, we decide to open a travel company, named â€Å"Luxury Tour Co.† in Ho Chi Minh City. Our target market is Spain. Within the next five year, we build â€Å"Luxury Tour† as the first choice for the Spaniard when they think of travelling to Vietnam. This name guarantees for â€Å"best service,best choice† as our slogan of â€Å"Think nothing, let us†. This marketing plan is designed to highlight significant steps and other related issues to run business well and meet the goal. Market Overview Tourism is considered as the key industry in the near future. Tourism involves three sectors, they are, domestic market, inbound market and outbound market (Helmut Wachwiak, 2006:48). Domestic tourism aims to local customers, while inbound tourism aims to attract international tourists to the country and outbound tourism aims to organising tour for local tourists who want to travel abroad. Among of which, inbound tourism is emphasized most. It not only creates more employment opportunities for the local people but also plays an important role to attract foreign investment in Vietnam as MICE tours becomes popular. Tourism is based on a lot of factors. Here is the list of some changes influencing tourism in general and Luxury Tour business activities ( Lloyd E. Hudman, Richard H.Jackson, 2003:24) Infrastru cture in Vietnam . Understanding the contribute of the non-smoke industry, Vietnamese Government has invested in some projects, such as building metro, road etc. , and encouraged people take part in introducing beautiful image of Vietnam to the world ( Vietnam Tourism, 2010 ) Social behavior. For example, considering the tour price, it depends on the suppliers’quotation. They are five star hotels, restaurants, transportation etc. In peak seasons when several tourists come to Vietnam, lack of commodation or waiters/waitresses is predictable. As the result, the tour price is higher, but tourists are served less. Increased gas/petrol price. That is to say, it leads to the increase of price in transportation, flight ticket etc. The rapid development of Internet and e-commerce. According to the CIA Factbook, in 2009, 50% of Spaniard use internet, and this number is increasing repidly. It push e-commerce developped more Stable VND-Euro currency rate makes tour price stable and more competitive than other markets ( Vietnam Central Bank, 2010) Stable politics makes international tourists feel safety while staying in Vietnam New tourism trend. According to ITB World Travel Trends Report 2010/2011, Southeast Asia is sparkling as an ideal destination to EU market. They prefer enjoying â€Å"sun and beach† and discovering Eastern culture

Alternatives to Microsoft office Essay Example | Topics and Well Written Essays - 500 words

Alternatives to Microsoft office - Essay Example The most notable of alternative office software packages is the OpenOffice.org suite. OpenOffice.org is free to download, and is completely open source. It can be used freely for any reason, including commercial. The software will never expire, and the wording of the licensing agreement ensures that any user who downloads a free copy can never be charged for it even if there are later policy changes. The program is capable of opening and reading documents in most formats, including the standard .doc*, .ppt*, and .xls* file types, as well as saving files into pre-2007 formats and PDF documents. There is no capacity to save into the .*x format, but as the current Microsoft Office suite is backwards compatible to that format, even when sending files to other users this is a non-issue (OpenOffice.org). The Microsoft Word alternative, OpenOffice.org Writer, and the Powerpoint alternative, OpenOffice.org Impress, are nearly identical in features offered and ease of use. The layout is simil ar to pre-2007 Office and so feels comfortable and familiar to most users of the Office software bundle (OpenOffice.org). However, OpenOffice.org Calc and Base, the products comparative to Microsoft Excel and Access, leave much to be desired in calculating power and data analysis.

Services Marketing Case Study Example | Topics and Well Written Essays - 2500 words

Services Marketing - Case Study Example For a restaurant like Electtrico, this means refurbishing interiors to reflect the warmth and romance of a lover's rendezvous that is at once secluded yet accessible. The setting is tranquil but effervescent, the lights subdued and hypnotic, the music playing sweet and intoxicating from the dining hall's grand piano. This completes the service theatre. And then the sumptuous repast comprised of the restaurant's renowned Italian-Mediterranean fare rendered expertly by its award-winning chef, washed down with gourmet wines from Italy's finest vineyards. Elegant setting, gastronomic delights, gracious attendants, complimented with the practical considerations of ease of parking and accessibility of location - these would be the essentials that would define the Electtrico experience. Situated in the heart of London's business district, Electtrico is geared towards the young professionals who, in their late twenties and up, have begun to develop the sophistication to enjoy fine dining. Currently situated on the lower level of a two-story edifice, the restaurant proper is complimented by a pizza bar where the young, single and available can meet new acquaintances. In fine, this paper will bring together suggestions for the restaurant's marketing mix by which it will attract its clientele and mount a bid to compete against the other Italian restaurants within a comparable niche segment while differentiating its service. This paper will determine the pricing strategy to be adopted, training for the front line employees, the physical evidence as previously described, and the process of orchestrating the entire experience. With the price being the major differentiating factor in any business, and keeping in mind the major target segment, the price at the restaurant can be fixed at a level which is just above the average so a balance is achieved in all respects. Also, this kind of a pricing strategy can attract other target segments in large numbers. This study will also harmonize all these elements into a cogent and strategic whole, so that Electtrico's management will be guided in the further choices and revisions it may wish to introduce. Ultimately, by these suggestions, it is expected that Electtrico will be able to increase its market share, improve customer retention, and establish a leading name in this industry. Benvenuto, caro amico! THE START OF THE FINDINGS . I Exterior of the restaurant 1.1 Architectural style and signage Restaurant visibility and accessibility constitutes an

Organizational Evaluation of Zara Cloth Company Essay

Organizational Evaluation of Zara Cloth Company - Essay Example The Company is an active member of the Inditex group (Tungate, 2008). The chain store was founded and is currently owned by Amancio Ortega and Rosalia Mera. Zara produces quality cloths that have attracted customers in the entire globe. This paper evaluates certain organization functions of the organization. Physical Assets, Products, Manufacturing and Distribution Success of Zara Chain Store has been attributed to extensive utilization of its opportunities through online services (Badia, 2009). To enhance sale of its products, Zara uses both offline and online shops, which increases its customer-serving capacity and physical market coverage. The company has not only used online communication to contact its clients, but also to advertize its products. The chain store has successfully opened several online shops and plans to launch several services in all its outlets. According to Badia (2009), branches of Zara are vertically integrated retailers. That is, though the branches use diff erent production processes, they are united by a common goal (Harrigan, 2003). Different products produced are, consequently, integrated to satisfy a common need. The Clothing Store produces large quantities of clothes of different fashions, styles, or designs and covers all groups of people. Sale of the products is done either locally or exported to foreign market. Zara products are manufactured in various stores in Spain, Europe, Asia, and Africa (Tungate, 2005). As another vital asset of the organization, recent success of Zara is attributed to the launching online boutique by the Inditex in September 2010. The online shopping provision was first initiated in Spain, United Kingdom, Italy, Germany, Portugal, and France markets. Launching of the boutique website was preceded by creation of a cyberspace due to high demand for online shopping (Tungate, 2008). The two sites function like physical shopping stores in, which a wide range of products are provided at fair prices. The onlin e service also provides different payment methods from which a customer can select a method that best suits him/her. In addition, the website provides a variety of delivery methods a customer can use after ordering a shipment. A customer can either pay for a postal delivery or be free to pick his/her purchase from the store (Badia, 2009; Tungate, 2008). Human Resource Management in Zara In Zara Chain Store, existence and functionality of Human Resource Management (HRM) depends diversity within a workforce, employee relations, and training and skills development (Tungate, 2008). Expansion of the organization has triggered the need to design appropriate ways of obtaining and maintaining quality performing employees. Resource managers in various Zara stores, therefore, concentrate on maintaining good relationship between employers and employees and among employees. Resource management in Zara, in effect, focuses on satisfactory productivity, improved motivation, and high morale upkeep of workers. In Zara Stores, diversity in HRM reflects variations present in its workforce. Workforce diversity in Zara is attributed to differences in various demographic factors. Such factors include age, gender and social class. With the increasing need for employees due to advances in technology, management teams in Zara constantly strategize on ways of

Megacities of Asia-Korea Assignment Example | Topics and Well Written Essays - 250 words

Megacities of Asia-Korea - Assignment Example clock to also eliminate competition because with the increasing growth of technology in the country, business is bound to get better and competition steeper. Profits will also increase as everyone will be scrambling to get the latest technology and devices. Yes it is. This is so because with the increase in technology development and technological devices in Korea, the market will need to expand internationally. This therefore means that people in other nations will get the latest in technology same as the Koreans and in large quantities as the production will be a lot in Korea (Dong-hyung, 2005). The prices of the other technology which had previously enjoyed having competitive advantage as well as some form of monopoly will have to reduce their prices meaning many people will be able to afford to stay connected at a cheaper cost and at a faster rate than before. Some like the marketers may not see this as an advantage but they are few and the consumers who are many have the last say and they are always right as the saying

Business decision making Essay Example | Topics and Well Written Essays - 2000 words - 3

Business decision making - Essay Example For home delivery and take away orders, an addition 2% of added cost will be charged due to packaging material used (Katsigris and Thomas, 2008, p. 23). 12 Analysis of figure above 5: - majority of the students at 86% replied affirmatively that they would visit the new pizza hut if establiAd. The positive response means that the Pizza Hut if established will succeed (Fullen, 2005, p. 1). 14 The manager will be overseeing the overall running of the pizza hut. He/she is required to process and also check invoices, bills and maintain records. The cashier will only be receiving cash but the drawer for control purposes will be under the manager (Baraban and Durocher, 2010, p. 299). 16 On the response to a request by Pizza Hut Restaurant Company, the business and management consultancy firm I work for was hired to carry out a feasibility analysis for them to open up an outlet close to the Coventry University campus. I was assigned to lead the study and present the finding in two months. Pizza Hut Restaurant Company is a Restaurant chain in America that is renowned for offering pizza packages of different styles. It also offers salads, buffalo wings, garlic breads and pasta. Results of this analysis will be used to decide whether the project will be executed or not (Walker, 2007, p. 73). A Pizza Hut Restaurant Company outlet is an ideal outlet to start near the campus due the high demand of fast food by students. A huge population of the campus also make a business idea viable. In particular, the analysis will enable the investors understand the purpose of the study, methods to be used or applied in data collection, analysis and presentation. They will also understand the survey methodology and sampling frame used in the analysis. Growth forecast of the business will be estimated, and trend lines included in the analysis to enhance the forecasts (Baraban and Durocher, 2010, p. 298). Primary sources were reviewed by use of questionnaires in order to determine the

Organizational Evaluation of Zara Cloth Company Essay

Organizational Evaluation of Zara Cloth Company - Essay Example The Company is an active member of the Inditex group (Tungate, 2008). The chain store was founded and is currently owned by Amancio Ortega and Rosalia Mera. Zara produces quality cloths that have attracted customers in the entire globe. This paper evaluates certain organization functions of the organization. Physical Assets, Products, Manufacturing and Distribution Success of Zara Chain Store has been attributed to extensive utilization of its opportunities through online services (Badia, 2009). To enhance sale of its products, Zara uses both offline and online shops, which increases its customer-serving capacity and physical market coverage. The company has not only used online communication to contact its clients, but also to advertize its products. The chain store has successfully opened several online shops and plans to launch several services in all its outlets. According to Badia (2009), branches of Zara are vertically integrated retailers. That is, though the branches use diff erent production processes, they are united by a common goal (Harrigan, 2003). Different products produced are, consequently, integrated to satisfy a common need. The Clothing Store produces large quantities of clothes of different fashions, styles, or designs and covers all groups of people. Sale of the products is done either locally or exported to foreign market. Zara products are manufactured in various stores in Spain, Europe, Asia, and Africa (Tungate, 2005). As another vital asset of the organization, recent success of Zara is attributed to the launching online boutique by the Inditex in September 2010. The online shopping provision was first initiated in Spain, United Kingdom, Italy, Germany, Portugal, and France markets. Launching of the boutique website was preceded by creation of a cyberspace due to high demand for online shopping (Tungate, 2008). The two sites function like physical shopping stores in, which a wide range of products are provided at fair prices. The onlin e service also provides different payment methods from which a customer can select a method that best suits him/her. In addition, the website provides a variety of delivery methods a customer can use after ordering a shipment. A customer can either pay for a postal delivery or be free to pick his/her purchase from the store (Badia, 2009; Tungate, 2008). Human Resource Management in Zara In Zara Chain Store, existence and functionality of Human Resource Management (HRM) depends diversity within a workforce, employee relations, and training and skills development (Tungate, 2008). Expansion of the organization has triggered the need to design appropriate ways of obtaining and maintaining quality performing employees. Resource managers in various Zara stores, therefore, concentrate on maintaining good relationship between employers and employees and among employees. Resource management in Zara, in effect, focuses on satisfactory productivity, improved motivation, and high morale upkeep of workers. In Zara Stores, diversity in HRM reflects variations present in its workforce. Workforce diversity in Zara is attributed to differences in various demographic factors. Such factors include age, gender and social class. With the increasing need for employees due to advances in technology, management teams in Zara constantly strategize on ways of

Business decision making Essay Example | Topics and Well Written Essays - 2000 words - 3

Business decision making - Essay Example For home delivery and take away orders, an addition 2% of added cost will be charged due to packaging material used (Katsigris and Thomas, 2008, p. 23). 12 Analysis of figure above 5: - majority of the students at 86% replied affirmatively that they would visit the new pizza hut if establiAd. The positive response means that the Pizza Hut if established will succeed (Fullen, 2005, p. 1). 14 The manager will be overseeing the overall running of the pizza hut. He/she is required to process and also check invoices, bills and maintain records. The cashier will only be receiving cash but the drawer for control purposes will be under the manager (Baraban and Durocher, 2010, p. 299). 16 On the response to a request by Pizza Hut Restaurant Company, the business and management consultancy firm I work for was hired to carry out a feasibility analysis for them to open up an outlet close to the Coventry University campus. I was assigned to lead the study and present the finding in two months. Pizza Hut Restaurant Company is a Restaurant chain in America that is renowned for offering pizza packages of different styles. It also offers salads, buffalo wings, garlic breads and pasta. Results of this analysis will be used to decide whether the project will be executed or not (Walker, 2007, p. 73). A Pizza Hut Restaurant Company outlet is an ideal outlet to start near the campus due the high demand of fast food by students. A huge population of the campus also make a business idea viable. In particular, the analysis will enable the investors understand the purpose of the study, methods to be used or applied in data collection, analysis and presentation. They will also understand the survey methodology and sampling frame used in the analysis. Growth forecast of the business will be estimated, and trend lines included in the analysis to enhance the forecasts (Baraban and Durocher, 2010, p. 298). Primary sources were reviewed by use of questionnaires in order to determine the

Tall nettles by Edward Thomas Essay Example for Free

Tall nettles by Edward Thomas Essay The narrator of this poem, which is written in two quatrains, describes a corner of the farmyard in which tall nettles cover old farm implements and suggests that he likes it because it is a reminder of mutability (liability to change) and the transience of life. The first stanza tells us that the nettles tower over the implements, except for the roller handle, as if they want to assert the supremacy of life and hide the fact that even things made from the most obdurate materials are subject to change and will eventually disappear. Yet, it is implied, the nettles grow in spring and will die in due course and what is now hidden will be revealed once again. The words cover up mean the nettles grow over but also imply attempt to conceal. The stanza also poses the paradox that truth can be revealed through illusion. The illusion here is that life is triumphant, as we know that the implements are lying under the nettles and will be revealed once again when the nettles themselves die and the illusion will be revealed for what it is also. The painting assonance of the short -u- vowels in cover, done, rusty and butt, together with the frequent pauses between the items in the list, convey an impression of exhaustion and reinforces the notion of something that is moribund or very near death. In the second stanza, the narrator explains why he likes this corner of the farmyard most. He tells us that he likes the dust on the nettles a reminder of mortality which is never finally removed although temporarily washed off by the showers that may briefly refresh but otherwise make no difference at all (it is an illusion that they do). He makes it clear that he has no unnatural liking for death by saying that he also likes the bloom (covering of fine powder, here representing the fullness of life) on flowers. However, the yoking of bloom and dust, and  dismissive tone of the word any, suggests that he knows the bloom will disappear also, and the flowers become dust, just as will the nettles when they die. The longer, more euphonious vowels (I, bloom-prove, flower-shower, sweetness), the inversion of the usual word order in the first line, the mellifluous flow of words, and the repeated admission that he likes certain things, convey an impression of sincerity and warmth, which in turn suggests how much he values the lesson he has learnt from this otherwise neglected and insignificant part of the farmyard. In this context, then, it becomes clear that the word nettles in the title (nettles are a stinging plant) is ambiguous and refers not only to the plants that are covering the implements but also to the principles of mutability and transience which are hidden be the nettles, and which people find hard to contemplate because it is not easy to accept the inevitability of death.

How Children of incarcerated parents are affected

How Children of incarcerated parents are affected How Children of incarcerated parents are affected Abstract More than 1.5 million children had their parents incarcerated by the year 2014 and the number continues to rise. Parental incarceration is linked to both long-term and short-tern risk factors for children such as;behavioral problems, mental health issues or experience issues related to school performance (Farraington, 2002). This is a study to explore the effects of parental incarceration of both mothers and fathers on children. This study will analyse the availability, efficiency of programming and services available to incarcerated parents along with their families that may soften the blow of the negative effects that come with parental incarceration. Recommendations relating to programming needs and ways schools could assist children and families affected by parental incarceration shall be made. Introduction In America, children in excess of 1.5 million have a parent who is incarcerated. Millions more had a parent in prison during their early childhood. For a long time these children have gone unnoticed but lately, public policymakers, traditional social service providers and academic researchers have shown interest in them. Part of them fear that such children are at risk of being imprisoned themselves. Some are interested in acquiring a better understanding as well as promoting the well-being of these children. It is an opportune time to conduct this study especially now that programs and services for incarcerated parents and their children are receiving support from government and foundations. For the children, it is potentially traumatic as well as challenging to have a parent behind bars. These children are forced to confront emotional and socioeconomic consequences which often trigger behavioral problems leading to poor performance in school and a disrupted relationship with their parents even after their release from prison. This kind of parental absence is way more complex than any other due to its unique effects of social, institutional and community stigma.Child development theories are useful in examining the effects of parental incarceration on children however, the is a need to better understand the differing effects of parental incarceration as compared to other types of parent-child separations and other childhood trauma. This can be done by comparing the effects of incarceration of a parent on the different categories of children such as for boys and girls, children of different age groups and children from different racial and cultural backgrounds. Purpose of the Study There are several ways in which incarceration affects the entire family. The purpose of this study is to critically analyze the various effects of parental incarceration on the development as well as well-being of the child. The results of this study are expected to reveal the negative influence that parental incarceration has on the development of the child. Statement of the Problem The long term consequence of parental incarceration is a topic that continues to attract interest to society due to the rise in the number of children with incarcerated parents. School officials need to be acquainted with programming and support services accessible to the families of individuals who have been imprisoned. Research Question The proposed study will be guided by the following research questions Are there differences between the impacts of maternal versus paternal incarceration? What ramifications do the children of incarcerated parents face? What parental support system is there to cater for the needs of incarcerated parents? How can schools help the children of incarcerated parents? Literature Review Several mechanisms through which parental incarceration may influence young children have been identified by earlier research has identified. First, the attachment theory (Bowlby 1973) suggeststhat the child’s social and emotional well-being can be harmed. Parent-child bonds can also be disrupted by forced separation.(Solomon and Zweig 2006; Sroufe 1988). Bowlby purports that development of the infants attachment to the parent will be hampered where there is no regular and sustained contact between an infant and parent. Separation after an infant is already attached to the parent will have so many emotional reactions ranging from sadness to anger which will be a hindrance to the optimal development of the child (Sroufe, 1988). It is also possible for children to develop multiple attachments such as that to non-maternal caregivers and mothers as well as fathers. Assessing the reaction that the children have to beingseparated from their incarcerated parentsis important since inf ants can develop strong attachments to their fathers (Parke, 2002). It is more detrimental to the children to separate children from parents through parental incarceration than any other form of parent-child separation. Many of the unmarried and non-resident fathers stay in contact with their children (Argys et al. 2006; Tach, Mincy, and Edin 2010) and also participate daily activities such as household chores, playing games, and bedtime routines (Waller and Swisher 2006). Due to the fact that it is difficult to obtain transportation to and fro prison with the family (Arditti, Lambert-Shute and Joest 2003; Comfort 2008), less than a third of fathers who are behind bars see their children on a regular basis (Hairston 1998).It is also owed to the fact that mothers may limit contact between imprisoned fathers and children (Arditti, Smock and Parkman 2005; Edin, Nelson and Paranal 2004; Roy and Dyson 2005). This has a negative influence on the development of the child.(Swisher and Waller 2008). Second, fathers in prison have an economic effect on their families as it leads to a reduction of household resources. After the term is completed, the pay is meager and they are unable to find work. Most of the time the returning offenders are confined to low paying jobs in the informal sector.(Lewis, Garfinkel and Gao 2007; Western, Kling and Weiman 2001). The family therefore does not receive sufficient financial support from the father support (Geller, Garfinkel and Western Forthcoming; Swisher and Waller 2008) and risk poverty (Schwartz-Soicher, Geller and Garfinkel 2009). Poverty and the instability it brings harm the well-being of the child (McLoyd 1998). Third, parents’ relationship is compromised as a result of incarceration. This affects the child. The father’s traditional role as a provider is then weakened by the economic strain.(Hairston 1998). Among low-income parents, the social stigma created by incarceration disrupts the dating relationships (Braman 2004). Enid (2000) and Anderson’s (1999) ethnographic research purports that poverty weighs heavily on prospective husbands and the view that men who were imprisoned may risk family reputation, safety and fail in providing a middle-class lifestyle. While the father is in prison, the mother may form new relationships thus making the situation more difficult when the father is released(Braman 2004). This strengthens the report that it is more likely for married incarcerated men to separate from their spouses as compared to those who are not incarcerated while there are few possibilities of marriage for single incarcerated men upon their release(Western 2006). T he development of the child is hampered by their parents’ conflict, separation, or divorce which is as a result of parental incarceration.(Amato 2006). On the other hand, the children may not be affected by their father’s incarceration. It is estimated that nearly half of the fathers in prison did not live with their children before incarceration (Johnson and Waldfogel 2002), and the impacts of parental incarceration may be less severe for those who had limited contact with their fathers. Furthermore, since fathers are normally less involved with daughters than sons, incarceration of the father will have a lesser impact on daughters.(Lundberg, McLanahan and Rose 2007). In some cases, the incarceration of fathers who have a negative effect in the life of their children, such as those that are abusive, improves their well-being (Whitaker, Orzol and Kahn 2006).Some men may turn their lives around for the betterment of their families due to having served a jail term (Edin et al. 2004). The children of an incarcerated parent also get encouraged to be law abiding citizens (Edin et al. 2004). Practical proof on the developmental effects of parental incarceration is still limited given that there is research that puts forward many ways that it may affect children. The population in prison is young, minority and poorly educated (Petersilia 2003; Western 2006). With or without incarceration their children face significant risk. Studies are hampered by convenience samples and their short-term design thus cannot differentiate the challenges faced by these children from those faced by those who are of a humble background (see Parke and Clarke-Stewart 2002, Wilbur et al. 2007). In both urban and rural populations, studies show that children’s’ well-being is at risk from exposure to parental incarceration that causes poverty and instability at home (Geller et al. 2009; Phillips et al. 2006) that leads to aggressive behaviors among the children (Geller et al. 2009). However, these studies do not cater for characteristics that are invisible but only those that are visible(Murray et al. 2009).Wildeman (forthcoming) gives substantial proof through examining the changes that occur in a family due to parental incarceration and its effects on the child. Both Wakefieled’s (2009) as well as this study argue that parental incarceration brings forth a serious risk to the child’s well-being especially during their formative years. Methodology Data from the Fragile Families and Child Wellbeing Study (Fragile Families) shall be critically examined.The Fragile Families Study makes use of a sample of children from a number of cities in the United States that have a population if more than 200,000 with a base line from the years 1998 and 2000. 4,898 mothers were interviewed in hospital within a day of giving birth. Out of the total number, 1,186 had marital births and 3,712 had given birth outside marriage. Some of the fathers were also interviewed and it revealed that nearly 90% of them were married fathers while 75% of them were unmarried. Later on, during the first and third years after the birth of the child and the response rates for mothers were 91%, and 89% at years 1 and 3, respectively, of married mothers taking part in the baseline survey while that of unmarried mothers were 90% and 87%. As for the fathers, response rates were 82% and 82% among fathers that were married at baseline while unmarried fathers were 70% an d 67%. The Fragile Families study was set to analyse the function of social and material disadvantage on a child’s well-being. A notable number of these parents have been incarcerated at some point. Statistics show that only 3% of the fathers were behind bars at the time of child birth. The study also revealed that 45% of unmarried fathers, 10% of married fathers, and 7% and 2% of mothers were in prison by the time their children turned three. As shown, the imprisonment of a parent makes obtaining gainful employment difficult. This means that the needs of their children are not fulfilled. During their time in prison, these parents are unemployed and after their release it is quite challenging to get a job let alone job security. This study shall analyse the measures of labor market performance: if they have jobs during the third year, how long they have been working in the past year, their latest hourly wage as well as the total income over the past year. Then, the researcher will be able to make a comparison on the amount the fathers contribute to their families during the past year (Betson, 2006). The imprisonment of a parent results in family instability that is harmful to the growth and development of the children. Incarceration of a parent will more often than not lead to poverty whereby the child suffers the most. Confirmation of poverty comes when the mother confesses to not having fulfilled a major need for her child during the past year as a direct result of an insufficiency in financial resources. By counting the number of needs that the mother fails to fulfill for her children it shall be evident just how much suffering the child is put through. Another factor to be considered shall be amount of public assistance, the rate of marriage,coà ¢Ã¢â€š ¬Ã‚ resident, or nonà ¢Ã¢â€š ¬Ã‚ resident when the child is aged three years. The study shall finally compare the stability in homes by measuring the frequency of relocation. Instability emanating from parental incarceration has serious negative impacts on the development of the child. There are a number of viewpoints from which the children of non-incarcerated parents shall be compared in this study. A five point rating of the children’s’ health from poor to excellent as provided by their mothers or primary care givers shall also be assessed in depth. A child’s behaviour shall also be measured by using the Child Behavioral Checklist will also be examined (Achenbach and Rescorla, 2000). The researches shall lastly evaluate the children’s cognitive development using their performance on the Peabody Picture Vocabulary Test (PPVT) at three years of age. The variations between children with and without imprisoned parents may imply measures to better child outcomes. It could be said that children whose parents have been incarcerated face unique challenges. For a researcher to determine this, he/she ought to put into comparison families where a parent has not been incarcerated against those whose parent has been incarcerated. This is done by creating a sequence of regression models. To be considered are the parents’ race or ethnicity, impulsivity, educational background and age at child’s birth. These make up the vector Xi. The resulting variable Yi is a representation of each of the labor force functioning, family arrangement and consistency, and child development indices described above; Yi = ÃŽ ²0 + ÃŽ ²1*Incarcerationi + ÃŽ ²2*Xi + ÃŽ µi Parents who have previously been incarcerated have a higher chance of getting partners with a similar history. Their children are at risk of suffering when one parent is forcefully taken away as a result of imprisonment but would suffer a lot more where both parents are imprisoned. As a result, a second sequence of models is created; Yi = ÃŽ ²0 + ÃŽ ²1DadOnlyInci + ÃŽ ²2MomOnlyInci + ÃŽ ²3BothInci + ÃŽ ²4*Xi +ÃŽ µi Here, the focus is on family stability and child development as a set of limited results on the basis of both parents being imprisoned. Similarly, Xi has an increased set of variables so as to avert multicollineaity. Assortative mating scientific hypotheses have shown that parents often couple up with other people whose race, ethnicity, age and education (Weiss, 2008). Therefore, the model Xi is based on a mother’s attributes. These attributes include age and race with the inclusion of impulsivity and education for both parents. Social change implications Studies on children whose parents are behind bars is still developing. Some aspects of it may require an input from national statistics in instances for those children with living arrangements or connections with their parents. It can be shown that there exist policies like those that give children an intimidating and degrading experience when they visit their imprisoned parents. These policies are more disadvantageous than are beneficial. The study on the adjustment of the children to their parents’ incarceration requires discrete and supplementary studies to acquire knowledge. From this work, it could guide in the building and informing of program and policy development. However, a further and exhaustive knowledge is essential so as to see through major changes that should have long-term and positive effect on the well-being of the many children in this situation. In addition to existing research and knowledge, this research is a stepping stone to further developments in the area. America has many children who have gone through their tender ages whilst their parents being in prison. The research that will be taken into account in the study and how it will be put to good use by several actors such as researchers, social service and non-profit agencies, religious-based organizations just to mention but a few will help influence the state of happiness and satisfaction as well as success of these children as family members, students and ultimately as grown-ups who play an active role in their communities in the future.

Let It Pour: My First Assignment as Executive Assistant :: Critical Thinking Case Study

Introduction Just starting a new position as executive assistant, working directly for the CEO of Faith Community Hospital I receive my first assignment as executive assistant. I am charged with solving specific problems, delivering the solutions and describing my rationale for my proposed solutions, my boss, the CEO of the Community Hospital is requiring the information next Monday. In my following report I will take steps to identify the problems and to solve each of the problems described using the critical thinking skills I have learned at State University. I will be using my decision making skills along with a brainstorming technique to help me solve these problems. The two problems that I have identified are as follows: The first problem I have identified to solve is the moral and ethical differences our practitioners have towards administering care to patients resulting in different levels of care provided by different practitioners. The second problem that I have identified is our increa sed costs per patient. I need to brainstorm what we can do to reduce or avoid the potential continuing increased costs. Critical Thinking Case Study To begin, I need to study the problems thoroughly and efficiently. Then I will need to isolate each of the problems that the CEO and I discussed in the meeting. I will need to analyze each problem and evaluate alternatives for each problem. After that is done, I will make recommendations with corrective actions prepared for the CEO by Monday. In my CEO's assignment I have identified the two separate problems and I will be evaluating them each independently. Problem #1 First, I have to identify the problem. The hospital and regulators are seeing inconsistent decisions that are implemented for the patients based on the particular doctors' or nurses morals, and ethical beliefs. As the CEO said "On one hand, we have particular patients who refuse to take certain medical services, and on the other hand, particular staff members who refuse to provide certain services." The doctors are not following any set standards for issuing care for our patients. This problem needs to be immediately rectified. To solve this issue I need to break down the problem into its different elements. I have identified the problem, now I have to define the goals. Goals The goals that we need to accomplish are to have each practitioner administer consistent care for our patients regardless of personal morals and ethics. We also need to make sure that no patient is refused care, regardless of the doctors' beliefs, medical coverage or lack of coverage.

Ray Bradburys Fahrenheit 451 Essay -- essays research papers fc

Literary Criticism of Fahrenheit 451 Don’t worry, be happy, or at least that’s what everyone in Ray Bradbury’s book Fahrenheit 451 thought. No matter what was going on around them, war, crime, or death, they were always happy†¦ Or were they? Ray Bradbury wrote books about censorship in society forming around being censored totally or partially from books and television. In Fahrenheit 451 the main character, Montag, is a fireman whose job it is to burn books to keep the public from reading then and coming up with their own thoughts and ideas and not the ideas that the government puts in their heads. Wile he is burning books one day he opens one to read it and becomes obsessed with reading books. He turns on his fire chief and burns him, and goes to live with people who also read books and memorize them so that they can be reprinted then society is ready for them again. Three people that show that they are happy on the outside but are not truly happy are Montag, Mildred and Mrs. Phelps.   Ã‚  Ã‚  Ã‚  Ã‚  In the story, Montag, who is a fireman for the city thinks he is happy until he meets a neighbor girl named Clarisse. Clarisse is considered an oddball in the society of Fahrenheit 451 because she is â€Å"antisocial† in their world which actually means that she is social by today’s standards. She talks to people about things instead of the people of 451 who talk about meaningless things that have no substance. Peter Sesario says that’s she is considered to be this way because, â€Å"She was a sensitive, observant person who questioned society and was consequently eliminated by the government (3).†One day as Montag and Clarisse are walking down the street Clarisse says to Montag, â€Å"Are you Happy?†(10). Montag is speechless and before he could come up with and answer Clarisse is gone. As he enters his house he talks to himself, â€Å"Of course I’m happy. What does she think? I’m not?†(10) When he is saying this he looks up to the ceiling where he has Hidden books which are things that actually make him happy instead of the things around him which he thinks makes him happy. She also notices that when Montag laughs it is a fake laugh and that he doesn’t really mean it when he laughs. Also when he smiles it is not a real smile which further goes to show that he isn’t happy.   Ã‚  Ã‚  Ã‚  Ã‚  Another character that seems like she is happy but really is n... ...racter other than Montag who sees for herself that she is not actually happy. Three of the main characters in this story who you may think are happy in the beginning of the book but you figure out how unhappy they really are by reading into the book are Montag, Mildred, and Mrs. Phelps. Montag is one of the few people in the book who actually realizes that he is not happy towards the end of the novel. Mildred never realizes what happiness really is and ends up leaving Montag because of her inability to grasp what happiness is really about. Mrs. Phelps, who finally realizes that she is not happy, gets mad at Montag when he shows her that she is not happy and does not appreciate the good that he has done in her life by showing her that she is a very heartless person. Even though the people in Fahrenheit 451 live by the saying, don’t worry be happy, no one in the 451 world is actually happy at all. Works Cited Eller, E. Edward. â€Å"Fahrenheit 451.† 1998. Exploring Novels. Ed. Ray Bradbury. Detroit: Gale, 2004. 3-4 Sisario, Peter. â€Å"Fahrenheit 451.† 1970. English Journal. Ray Bradbury. Literature Resource Center, 2004. 4 Bradbury, Ray. Fahrenheit 451. New York: Ballantine Books, 1953

Statistics in Business

Statistics is a way of gathering, analyzing, interpreting and presenting data so that it becomes more meaningful. It helps convert raw data into useful information. Statistics is therefore a collection of information. Statistics can be presented in graphical form to make it more appealing and easily understandable by the users. Statistics can be descriptive or inferential. Descriptive statistics have to do with methods in a data set that utilizes numerical and graphical to look for patterns to summarize the information revealed in a data set, and to present the information in a convenient form. The four elements of descriptive statistical problems are the population or sample of interest, one or more variables (characteristics of the populations or sample units) that are to be investigated, Tables, graphs, numerical summary tools, and the identification of patterns in the data. Also there are Inferential statistics that utilizes sample data to make estimates, decisions, predictions, or other generalizations about a larger set of data. There are 5 elements of inferential statistical problems: The population of interest, one or more variables (characteristics of the population units) that are to be investigated, the sample of population units, the inference about the population based on information contained in the sample, and a measure of reliability for the inference. When it comes to the role of statistics in business decision making it is applied in many ways in terms of consumer preferences or even financial trends. For example, managers across any type of business unit formulate problems, they decide on a question relating to the problem and then form a statistical formulation of the question is used to determine answers to all of the above. An example of a business question may be how many calls are answered on average in a call center and how can we increase the numbers of calls answered per hour. Another example may be how we can increase the number of accounts.

Strategic Mangement(Krispy Kreme)

P r o j e c t o f Strategic Management Case Study Krispy Kreme Doughnut HAILEY COLLEGE OF COMMERCE UNIVERSITY OF THE PUNJAB We are thankful to ALLAH (all mighty) for guiding us and giving us power and courage. Project submitted: Sir Ishfaq Ahmed This project is based on our course of S. M. We have tried to utilize our knowledge about the subject which was taught by our professor. S. M is a vast field and it was a bit difficult for us to cover it all at our learning phase. We have applied many concepts of S.M to the case study We are very much thankful to our Sir Ishfaq Ahmedfor teaching us this important subject with all dedication and interest. It was very necessary for us to understand the real concepts of S. M. for our future practical working life. Project prepared by: Bilal Raja 792 Krispy Kreme Doughnut History and Growth The founder, Vernon Rudolph, worked for his uncle, Ishmael Armstrong, who purchased a secret recipe for yeast-raised doughnuts and a shop on Broad Street in P aducah, Kentucky, from Joseph LeBeouf of Lake Charles, Louisiana. Rudolph began selling the yeast doughnuts in Paducah and delivered them on his bicycle.The operation was moved to Nashville, Tennessee, and other family members joined to meet the customer demand. The first store in the nation with the Krispy-Kreme name opened on Charlotte Pike in 1933. Rudolph sold his interest in the Nashville store and in 1938 opened a doughnut shop in Winston-Salem, and began selling to groceries and then directly to individual customers. The first store in North Carolina was located in a rented building on South Main Street in Winston-Salem in what is now called historic Old Salem. The Krispy Kreme logo was designed by Benny Dinkins, a local architect.By the 1960s, Krispy Kreme was known throughout the southeastern United States, and it began to expand into other areas. In 1976, Krispy Kreme Doughnut Corporation became a wholly owned subsidiary of Beatrice Foods of Chicago, Illinois. The headquar ters for Krispy Kreme remained in Winston-Salem. In 2003, a pilot project in Mountain View, California, to sell doughnuts through car windows and sunroofs at a busy intersection (with wireless payment) failed. On February 19, 2007, Krispy Kreme began selling the Whole Wheat Glazed doughnut in an attempt to appeal to the health conscious.The doughnut has twenty Calories fewer than the original glazed (180 vs. 200) and contains more fiber (2 grams vs. 0. 5 grams). As of January 2008, the trans-fat content of all Krispy Kreme doughnuts was reduced to 0. 5 of a gram or less. The U. S. Food and Drug Administration, in its guidelines, allow companies to round down to 0 g in its nutrition facts label even if the food contains as much as 0. 5 of a gram per serving. Krispy Kreme benefited from this regulatory loophole in its subsequent advertising campaign, touting its doughnuts as â€Å"trans- fat free† and having â€Å"0 grams trans-fat! Krispy Kreme began another phase of rapid ex pansion in the 1990s, opening stores outside the southeastern United States where most of their stores were located. Then, in December 2001, Krispy Kreme opened its first store outside the U. S. in Mississauga, Ontario, Canada, just outside Toronto. Since 2004, Krispy Kreme has rapidly expanded its international operations. On April 5, 2000, the corporation went public on the NASDAQ using the ticker symbol KREM. On May 17, 2001, Krispy Kreme switched to the New York Stock Exchange, with the ticker symbol KKD, which is its current symbol.On January 18, 2005, Krispy Kreme announced Stephen Cooper, chairman of financial consulting group Kroll Zolfo Cooper LLC, as interim CEO. Cooper replaces Scott Livengood, who the company said has retired as chairman, president, CEO and a director. The company also named Steven Panagos, a managing director of Kroll Zolfo, as president and COO. Although based on informal advertising such as word-of-mouth, in 2006, Krispy Kreme moved into television an d radio advertisements, beginning with its â€Å"Share the Love† campaign with heart-shaped doughnuts. Vision and ValuesOur Vision †¢ To be the global leader in doughnuts and complementary products, while creating magic moments worldwide. Our Values (with acknowledgement to Founder, Vernon Rudolph) we believe†¦ †¢ Consumers are our lifeblood, the center of the doughnut †¢ There is no substitute for quality in our service to consumers †¢ Impeccable presentation is critical wherever Krispy Kreme is sold †¢ We must produce a collaborative team effort that is unexcelled †¢ We must cast the best possible image in all that we do †¢ We must never settle for â€Å"second best†; we deliver on our commitments We must coach our team to ever-better resultsMission statement We create the tastes for good times and warm memories for everyone, everywhere. With our Original Glazed doughnut as our signature and standard, we will continually improv e our customer's experience through: †¢ Innovative ideas †¢ Highest quality, and †¢ Caring service Financial/ business performance Environmental analysis Internal factors Strong brand recognition and recall Wide appeal of signature glazed doughnuts Vertical integration Development in international markets Strong channel of distribution Quality of product Expanded assortment of offerings at KKD stores including beverages Doughnut machine technology.Perishability of product Limited product line (heavy reliance on doughnut sales) Overextended (i. e. , Montana Mills acquisition) Lack of locations in some areas Pricing in some locations External factors Increasing popularity of coffee shops and bakery cafes Popularity of American foods and fashion in overseas markets Growth in two-income households Americans continue to experience time-starvation Entertaining opportunities moving from home to work environment Technological advancements (i. e. paperless ordering, predictive modeling software, hand held computers for delivery drivers) Channel expansion possibilities (i. e. , Internet pre-ordering) Competitors like Dunkin Donuts and Starbucks Low-carb trend in eating preferences All-natural, organic, healthy eating trends Cultural differences in breakfast and snack foods Increase in eating at full-service restaurants combined with a decrease in the use of fast-food restaurants S. W. O. T analysis Strengths 1. Affordable, high-quality doughnuts with strong visual appeal and â€Å"one-of-a-kind† taste 2.Neon â€Å"Hot Doughnuts Now† sign encourages people outside the store to make an impulse purchase 3. Market research shows appeal extends to all major demographic groups including age and income 4. â€Å"Hot shop† stores save money while keeping KKD customer experience intact 5. Vertical integration helps ensure high quality product 6. Consistent expansion; now in 16 countries 7. Product sold at thousands of supermarkets, convenience stores, and retail outlets through U. S. Weaknesses 1. Return on equity, assets, and investments all negative in the trailing twelve months; skill of mgmt. s questionable 2. Shareholders have not received dividends recently, and are not expected to in near future; stock price in state of flux 3. Closing stores when stores should be opening globally at steady rate to keep up with competitors' growth 4. Management states in recent 10-K that it is struggling with how to make stores profitable 5. Product line slow to expand with nothing Threats 1. Dunkin' Donuts presently dominates the doughnut market, particularly in northeastern U. S. 2. People are becoming more healthconscious, which does not bode well for highsugar, high-fat treats 3.Starbucks has approximately 25 times the amount of stores worldwide that Krispy Kreme Donut has 4. Restricted cash flow from banks and massive layoffs have stifled the world economy, decreasing discretionary income 5. Europeans prefer their local brands of Opportunities 1. Families crave convenience because of busy lifestyles 2. Asians love sweets and are open to trying foreign foods 3. Starbucks lacks a diversified and distinctive pastry line 4. Dunkin' Donuts does not have hot doughnuts to sell 5. Many children love sweet treats 6. Tim Horton has yet to expand beyond the U. S. nd Canada, and its product line does not appear to be competitive 7. South America, Africa, and Southern Asia are markets to conquer outside â€Å"sweet treats† to draw in healthconscious customers 6. Advertising not aggressive enough to appeal to areas outside southeast of U. S. where most stores are 7. Revenues down, net losses in each of past three years 8. Per 10-K, continued disputes with franchisees could hurt future business doughnuts 6. Britons tend not to have cars, which inhibits drive-thru customers, and their eating habits and office etiquette differ from Americans 7.Shareholders may sell KKD stock for lack of returns and dividends compa red to other similar firms in the industry SO Strategies 1. TV, radio, and print ads demonstrating 27 varieties of doughnuts against non-descript pastry offerings by Starbucks (S3, O3) 2. All store signs in supermarkets and conveniences where product is sold have picture of young child eating a Krispy Kreme doughnut (S7, O5) 3. Continued grand openings of stores in highly-populated cities such as Sao Paulo, Brazil & Johannesburg, South Africa (S6, O7) ST Strategies 1.Compare â€Å"hot† doughnut appeal of Krispy Kreme Donut to cold doughnuts of Dunkin' Donuts in TV and Internet ads (S1,T1) 2. Do â€Å"roadshow† across Europe as means of advertising, driving truck and mobile â€Å"hot shop† to major European cities and filming their reactions for European ads (S2, S4, T5, T6) 3. Express strengths and outline concrete strategies in clear format within 10-K in order to restore shareholder confidence in future of Krispy Kreme Donut (S1-S7, T7) WT Strategies 1. Expand product line with low-calorie foods (W5, T7) 2. Recruit top executive talent from other WO Strategies 1.Make doughnuts filled with fruit, put fruit cups on menu, and develop wide variety of fresh fruit smoothies; offer ways to incorporate nuts and protein into foods (W5, O3) 2. Aggressive Internet ads demonstrating the appeal of Krispy Kreme Donut hot doughnuts (W6, O4) 3. Open small but profitable â€Å"hot shops† in South America, Africa, and Southeast Asia in order to expand globally (W3,O7) fast-food firms (W1, T7) 3. Survey franchisees to discover ways to repair business relationships and retain growth of franchise model; study McDonald's model for tips (W8, T1, T3) I. F. E E. F. E C. P. M Space matrix Boston Consulting Group Matrix (BCG)Krispy Kreme Donuts has three business segments, and they are presented here along with their annual revenues per Form 10-K filed on April 17, 2009: Company Stores ($266M), Franchise ($26M) and Krispy Kreme Supply Chain ($93M), with app roximately $384M in total revenues for the year ending February 1, 2009. This means that each business segment represented the following percentage in revenues: Company Stores (69. 2%), Franchise (6. 7%), and Krispy Kreme Supply Chain (24. 1%). Profits for each business segment are as follows: Company Stores ($-2M); Franchise ($18M); and KK Supply Chain ($25M), for a total of $41M in profits.Therefore, Company Stores has 0% of the profits; Franchise has about 41%; and Krispy Kreme Supply Chain has about 59%. We’ll assume that Company Stores has 3% of the market share and a -13% growth rate; Franchise has 3% of the market share and a 10% growth rate; and Krispy Kreme Supply Chain has 3% of the market share and -7% growth rate. Grand Strategy (GS) Matrix Recommendations 1- Reduce operating expenses (down-size individual stores) Lower Costs of Doing Business †¢ reduce operating costs per individual store by changing average size of stores from 2500-4500 sq. t. range to 1500 2000 sq ft. Potential for 30 – 50 % decrease in operating cost on a cost per square foot basis. I. Change entire manufacturing and distribution strategy – Implement par baked manufacturing operation †¢ to allow individual stores to decrease in size, thus lowering per store operating costs to a more appropriate level for sales volume †¢ Increased efficiency – smaller workforce per store, par-bake allows for minimal waste – inventory as needed (important b/c fresh goods – low shelf life †¢ Par bake will allow for â€Å"hot doughnuts now† all of the time. Implications of transition to par bake operation †¢ New Plant Equipment – freezers, production equipment, freezer trucks for distribution/delivery. †¢ Store Equipment – freezers, oven for various par baked goods, fryers for doughnuts. †¢ R&D for unique par bake operation, doughnuts still to be fried and glazed on site. II. Sale of Plant and Equipment -sell Effingham plant †¢ Potential buyers are large scale baked-goods manufacturers †¢ Sara Lee Corporation †¢ Entenmann’s (George Weston Bakeries Distribution) †¢ Harlan Bakeries, Inc. Estimated value of 10. 5 – 12 million. III. Remove â€Å"doughnut theater† from 95% of locations, doughnut theater can be part of a select few Flagship locations only. (3 – 5 Stores) 2- Develop stronger relations and control of franchisees I. Short-term period of one year – postpone new franchise agreements/new store openings II. Implement Franchise Support Systems †¢ Communication – between corporate and franchisees †¢ Support – training, advertising †¢ Utilize recommendation #1 in order to lower operating expenses for franchisees. – Implement Marketing Strategies I. Advertising – national television and radio advertising campaign based on â€Å"hot doughnuts now†. II. Marketing research  œ periodic research to stay abreast of trends. III. R&D – product development 4- Strengthen Competitive Advantage †¢ Strengthen Competitive Advantage through differentiation in products and services. I. Continue to utilize â€Å"hot doughnuts now† II. Expand product line †¢ Account with A&S â€Å"New York† Bagels (par-baked). Par baked will allow for â€Å"Hot Bagels Now†.