Case Analysis City Of Houston Texas V. Hill

I. Name or Title: City of Houston, Texas v. Hill II. Legal Citation: 482 U.S. 451 III. Statement of Facts: A gay right’s activist was arrested for the municipal ordinance of interrupting an officer while performing their duties when officers approached his friend and he tried to sidetrack them by screaming out at them to â€Å"pick on someone their own size.† The activist brought the case to the United States District Court for the Southern District of Texas, which then was overlooked a panel of the United States Court of Appeals for the Fifth Circuit. IV. Issue: Is it unconstitutionally overbroad under the First Amendment to commit a municipal ordinance by interrupting any police officer while he or she is performing their duties? V. Holding and Action: Yes. Affirmed VI. Rationale: The United States District Court for the Southern District of Texas rejected Hill’s dispute that the ordinance was unconstitutionally vague or overbroad. The court stated that it was not vague because, â€Å"the working of the ordinance is sufficiently definite to put a person of reasonable intelligence on fair notice of what actions are forbidden.† This court felt that the words used in defining the ordinance, such as, ‘interrupt,’ is adequately clear, understandable, and a very common, routine word. This was soon reversed by the Court of Appeals when they were suggested, by the city, to call a vote, which resulted in a vote of 8-7. The Court of Appeals agreed that the ordinance was not vague, butShow MoreRelatedThe Assassination of John Fitzgerald Kennedy2042 Words   |  9 Pagesstreet, a sniper hided in the sixth floor window in the City Library, shot President Kennedy by two bullets, one on the head one on the neck. Kennedy was declared his death after sent to the hospital in half hour later, and Lyndon Johnson became the new United States president in few hours of death of John F. Kennedy. 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We Are All Humans - 1829 Words

We are all humans. The same species. We were created equally, therefore we all should be treated equally until our actions make us deserve something different. If we are all humans we should never prejudge somebody because it will usually always be inaccurate. We may have many things that make us different from each other but something we all share is our humanity and the fact that we have feelings and emotions. Every human will always be unique no matter what. It doesn t matter what race they are or where they come from or what gender they are or prefer. What makes us believe that all people of one group share the same characteristic and makes us hate each other for no reason are stereotypes. Stereotypes are the source of racism. It is what makes us think that we are separated into categories and we, as humans need to overcome that. What makes us different is our personalities not what we were born with. Fortunately the new people of my generation are open minded and racism along wi th bigotry will gradually die out. One of the sources of stereotypes is in the media, especially comedy. To most people this is harmless and we will just laugh about it but to younger people they are more susceptible and naive to what the media feeds their minds. Unfortunately some children might believe a stereotype said and then they may spread that stereotype to others their age. Once these stereotypes are spread they can infect the minds of more people even if the source acknowledges itShow MoreRelatedEssay about Human Genome Project: We Are All One Race935 Words   |  4 Pagesno matter how different we all are as humans; we are just a single race. The variations that we see in everyday life are just physical differences but genetically humans are the same and â€Å"race† is term that has been used to distinguish human because of those physical differences. 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Develop and Implement Marketing Strategies- myassignmenthelp.com

Question: Discuss about theDevelop and Implement Marketing Strategies. Answer: PEST Analysis PEST Analysis is an abbreviation that stands for political, economic, and social and technology. The four factors affect the external environment of any business. For the companies to overcome this environment, have to strategize effectively or else they will be kicked out of the business. This is mainly because businesses do not have control of the PEST factors. For the MacVilles Company, their major PEST aspects attributable to its external environment are as discussed below; Political: The political factor is exhibited by the government regulations laws and regulations that either affect the business positively or negatively(Gupta, 2013). Businesses should take advantage of the positive political impacts and plan how to prevent or eradicate negative political factors (Rastogi Trivedi, 2016). Similarly, MacVille should optimize the removal of the tariffs on the espresso coffee machines. However, there a few critical factors facing MacVille. For example, the company must make sure it conforms to the government business laws and regulations in the new areas where it wants to expand its operations. This will help the company to avoid conflicts with the government. Secondly, there is a possibility of introducing a carbon tax that may see MacVille profits being diluted. Economic: Economic factor is one of the major PEST factors that businesses have to put into consideration(Koumparoulis, 2013). It will not matter whether the company is at kick-off stage or how long it has been in operation. If the company is faced by the economic constraint that falls beyond its ability there is a high probability of the company to suffer loss and eventually end up closing(Issa, 2010). On the other side, if the business is experiencing favorable economic environment there is a likelihood to enjoy higher profits, experience growth and development and expands to other regions(Yksel, 2012). MacVille appears to face both favorable, unfavorable economic business environment. Favorably, there are huge expectations that the economy will grow as result of the resources boom. Secondly, there are monetary and fiscal plans to strengthen the Australian dollar against that its trading partners. Recently, there has been a trend of the rising Australian dollar. This has had a nega tive impact on the tourism industry, a sector that the MacVille relies on to thrive in the market. Finally, the anticipated interest rates increase are likely to affect the disposable income available for the company customers. Social-cultural: The social culture of the target customers largely determines the nature and the type of the customer that the company will sell in the market. If the product appears to interfere, mock or against the culture or religion of the target customers, then it becomes useless introducing it in the market(Koumparoulis, 2013). It will be easy for the MacVille to introduce its product in the new market because Australians and majority of the international tourists in Sydney likes having an evening coffee. Therefore, the coffee culture in Sydney seems to favor MacVille business operations in the region. Secondly, there is growing culture where people tend to eat out more frequently as they age. Third, there is a predicted steady growth of the Australian population up to 36 million people by 2050. The social set up in the Australia business environment offers MacVille with a lucrative opportunity to enter in the coffee industry. Technology: In the modern business world, companies are thriving in technology. If the company is unable to adopt the latest technology, it might find itself being kicked out of the business (Rastogi Trivedi, 2016). Technology is a changing factor and therefore what was termed as the best technology in the industry two years ago it may be an obsolete technology today. MacVille has taken advantage of the latest technology in two ways. First, the company has taken advantage of home espresso machine that will help it ease its business operations. Secondly, the company will integrate Management Information System (MIS) to help its management and staff in executing all company business operations effectively. For example, the planned Management Information System will assist the company to carry out corporate and strategic planning that are aligned with strong internal controls in the department of accounting and finance. SWOT Analysis SWOT analysis which is an abbreviation for business strengths, weaknesses, opportunities and threats involves the evaluation of the company or industrys internal and external environment. Strengths and weakness are attributable to the internal environment of the business while opportunities and threats fall in the external environment of the business. The MacVille internal and external environment based on the SWOT analysis will appear as follows; Strengths: Ideally, the strength aspect comprises of the competitive advantages that the company can use to establish and maintain its operations in the market. The company will maximize its strengths to grow and develop and expand its business operations(Osita, Onyebuchi, Justina, 2014). MacVille is endowed with some strengths. First, the company enjoys strong strategies of marketing its sales. The application of the social marketing has largely helped MacVille in the development of the company marketing communication and promotion mix. Additionally, the company has taken advantage of the modern technology to reduce its marketing costs by largely relying on the internet. Secondly, the company enjoys a strong reputation in the field of service marketing. In the past, the company has been appropriately dealing with the customers complaint effectively. Besides, the after sale services have earned the company the strong image in the eyes of the general public. Weaknesses: This aspect involves the problems that can hamper the progress of the company(Valentin, 2015). The MacVille business operations face significant problems. First. The inbound logistics are underperforming due to lack of the experienced and qualified personnel. As a result, the delivery times have sometimes been violated, and the human resource management of the company appears to lack the solution. Secondly, the outbound logistics of the company calls for improvement. Currently, MacVille depends on the delivery firm to transport goods to their customers. It is noted that most of the times there are delays in the delivery of products and hence compromising the customers expected quality. Opportunities: These are the areas which the company pursues to grow and develop its business operations(Valentin, 2015). MacVille has an opportunity to expand its business to the new Sydney market. This region has a huge market of espresso machines, and again the major competitor of MacVille has withdrawn from the Sydney market. Secondly, MacVille can enter into strategic alliances with the bean suppliers to ease market penetration and reduce the costs of advertising. Finally, MacVille can obtain its objectives by entering into strategic alliances with the tenders providing and building home espresso machines. Threats: These are the risks that are likely to hinder the company business operations in the event of their occurrence(Valentin, 2015). The greatest threat is offered by Nufix Inc. The Nufix Inc. is shifting from instant coffees to the espresso bean and machine market. The Nufix Inc. action is expected to offer fierce competition to MacVille. Secondly, BeanEx is also a threat to MacVille. BeanEx is a major coffee supplier, but recently it has started importing espresso machines for their customers. Besides, BeanEx has penetrated the marketing through its coffee bean trade. The entry in the market by BeanEx is expected to offer the greatest challenge to MacVille espresso machine business. There is also the threat that can be availed by the rising Australian dollar that can have a negative impact on tourism. Review of Existing and Potential Competitors and Allies Nufix Inc.: This is a MacVille potential competitor. It has had an experience in the coffee bean market (strength) but not an espresso machines market (weakness) BeanEx: It is a MacVille potential competitor. The company has had a penetration of the coffee bean market before (strength) but lacks experience on the espresso machines market (weakness). Home Espresso Machines: Concentrates its espresso machine market in Sydney only (strength). It is working with the strategic partner who is not largely focused on hospitality industry (weakness). Ambrosia Coffee Roast: Largely committed to the coffee bean industry (strength). The company is unable to protect its intellectual property, and it does not put more emphasis on product quality (weakness). Java Estate: Solely committed to hospitality and coffee bean market (strength). There is a likelihood for other coffee suppliers to advice MacVille against entering into strategic alliance with this strong strategic alliance (weakness). Potential Allies Summary Statement Home Espresso Machines Sells consumer espresso machines in Sydney only. In addition, it incorporates other digital home entertainment products. Carries out four trade shows per year. The company can sell ten machines per show and arrive at break even after selling only two shows. Each show will contribute to the profit $10,000 per year. The partner is not meeting its financial commitment. Ambrosia Coffee Roast Sell all the coffee bean grades to supermarkets in Australia as well as hospitality outlets around the country. Shares the cost of outdoor advertising. Can serve fifty cafes per year and reach break-even after 20 cafes. Profit for the year is $15,000. Java Estate To sell quality Arabica roasted coffee beans to all states of Australia. Provides espresso machines to their customers for free. It pays for the MacVilles delivery, and installation of the machines cost price. The remainder of the purchase price is paid on 12-month repayment program. 200 machines can be installed in the first year and reach the break-even point after 80 machines. Profit per year is $100,000. References Gupta, A. (2013). Environment PEST Analysis: An Approach to External Business Environment. International Journal of Modern Social Sciences, 2, 34-43. Issa, T. (2010). Sustainable Business Strategies and PESTEL Framework. International Journal on Computing, 1(1), 73-79. Koumparoulis, D. N. (2013). PEST Analysis: The case of E-shop. International Journal of Economy, Management, and Social Sciences, 2(2), 31-36. Osita, I. C., Onyebuchi, I., Justina, N. (2014). Organization's stability and productivity: the role of SWOT analysis an acronym for strength, weakness, opportunities, and threat. International Journal of Innovative and Applied Research, 2(9), 23- 32. Rastogi, N., Trivedi, M. K. (2016). PESTLE Technique A Tool to Identify External Risks in Construction Projects. International Research Journal of Engineering and Technology (IRJET), 3(1), 384-388. Valentin, E. K. (2015). Away With SWOT Analysis: Use Defensive/Offensive Evaluation Instead. The Journal of Applied Business Research Spring, 21(2), 91-105. Yksel, ?. (2012). Developing a Multi-Criteria Decision Making Model for PESTLE Analysis. International Journal of Business and Management, 7(24), 52-66.

Wealth Maximization And Payback Period - Free Sample Solution

Question: Part A Critically evaluate and analyse the differing ways in which the shareholders of a company can encourage its managers to act in a way that is consistent with the objective of maximization of shareholder wealth. Are You Daunted by the Thought of Due Assignments? Avail Our Services and Receive Assignment Help from Experts. In this section students should demonstrate knowledge, understanding, and an ability to critically evaluate the importance of agency theory, and the role it plays within financial management. The response should draw upon the differing techniques that can be used by shareholders to reduce the agency problem that is faced within many businesses. A critical evaluation of relevant academic literature should be performed, providing clear evidence of wider reading within this topical area of research, rather than simply describing the core concepts. Attempting to evaluate within the context of real-life examples where shareholders have actively attempted to address agency problems would assist in developing the depth of response offered. Part B In practice financial managers use a variety of differing investment appraisal techniques upon assessing the viability of potential capital investment projects. Critically compare and contrast two investment appraisal techniques, one of which must be a discounted cash flow technique that would assist within the financial management decision-making process. In this section students should demonstrate knowledge and understanding of two investment appraisal techniques used by financial managers, how they can inform future projects, what limits their ability to guide investment, and which technique you would prefer (with reasons). The response should demonstrate evidence of wider reading and application of the chosen techniques within a real-life business context, supported through relevant empirical research. Real-life examples can be drawn from differing countries, industries and individual businesses, clearly identifying whether the investment appraisal techniques chosen are applied in practice. The inclusion of relevant numerical examples to develop the response further would be advantageous although should not form the main thrust of the work. Answer: Introduction Shareholders are the owners of the company. They contributed a significant part of the capital by which a company can operate its business. They take all the risks associated with the company. So it is the duty of the company to provide them adequate rewards. On the other hand investors can only willing to invest in a companys share from which he can able to get a good return. The following study is based on these two objectives where it is shown how the wealth maximization goal is achieved and how the project appraisal techniques can be used to evaluate the returns of the shareholders (Shim, Siegel and Dauber 2008). Part A Wealth maximization Wealth maximization is an important term used in financial management. The term wealth means the value of the shareholders, so its does not only consider the profit earned by the company. We know shareholders are the owner of the company and they get dividends at the end of the year depending on the performance and profit of the company. The problem is that the profit which have earned today by the company have no certainty that it will be earn tomorrow also so the main concern of the shareholder is always to maximize the value of his share so that he is able to sell his share and will have a capital gain. This process is called wealth maximization. It can be better described by a simple example. Say a shareholder purchased a share of company at $ 4 in 2006 and was getting continuous dividend. In the year 2015 the value of that share rise to $18 and the shareholder sell the share at that price. So he will have a capital gain of $ 14 which arises because of his wealth maximizes from $ 4 to $ 14. Wealth maximization occurs when shareholders have confidence about the rising of the price of the shares (Welch, 2010). Agency theory As per the entity concept of accounting it is said that the company and its owner have separate legal entity (Heracleous and Lan, 2011). It was also decided in a famous case study Salamon Vs Salamon Co that the existence of Salamon Company as a sole trader and later as a partnership business is separate. So in case of company also the entity of managers and owners are separate and from this relationship between owner and manager the agency theory is evolved (Agency Theory, Information, and Incentives, 2015). This theory says that the relationship between managers and owners is like the principal and agent and as per the law an agent means a person used to affect a contract between their principal and a third party. This theory is based on the following assumptions (Forbes-Pitt, 2011) - In agency relationship persons have rational behavior and they are always willing to maximize their personal utility. This implies that the persons are only concerned about how their individual goal can be satisfied. The utility gaining by the principal for providing services, information is same as or equal to the utility achieved by the agents in receiving benefits. The company creates a link between contracts and the activities must be conducted as per of those contracts. Problems with the agency theory The agency theory has several problems which are discussed as follows- In this theory the main importance is given on the individual interest by ignoring the collective interest (Brammer, 2005). As we know that an organization should have such objectives which will help it to achieving the organizational goals. For this purpose all the parties in the organization must have proper communication and same level of interest. In practical situation it is often observed that the interest of these two parties namely management and owner are separate. Management are only concentrating in decision making activities which may increase their profit but they may be less bothered about the wealth maximization goal as they have no share in dividends (Levante, 2007). Again the problem can arise when the risk taking attitude of the parties are different. The owners might have an opinion that the company should invest in high risky project in order to get higher return but the management may reluctant to do so as they will be accountable for taking extra risk and with the addition they will not get any reward for this. On the other hand owner can prefer debt financing as it will increase their return but management may not agree with this decision as this will increase their fixed financial obligations (Dickinson and Villeval, 2008). Techniques for resolving agency problems For resolving agency problems mentioned above several techniques are suggested. One of the most important techniques among this is the effective corporate governance. Hermes, an institutional fund manager had developed 12 principles which can be applied to any company for reconcile the profit maximization and wealth maximization objectives (Jiraporn et al., 2008) ; (Yahanpath and Joseph, 2011). Transparency and Communication Principle 1 Each and every company should disclose accurate and timely information to all its parties, owners and management so that any miscommunication between these parties can be avoided. Feedback from all the concerned parties is equally acceptable. Corporate culture Principle 2 A strong internal culture should be established which will help in value creation of the members. Here the employees can be trained to get accustomed with the organization and arrangements can be made for delegating responsibilities and evaluation of the performance should be made (Chuang, 2014). Principle 3 The company should developed effective corporate strategies for each of their business units and by keeping in mind their target customers. Principle 4 The company should maximize its sustainable operating performance which is in their existing business. A proper acquisition should be incorporated before some new acquisition decisions can be taken. Principle 5 All companies should ensure that the investment plans must passed through feasibility studies and only that kind of investments are given preference which maximizes the long term wealth of the shareholders. Risk management Principle 6 When a company is taking a long project for long term benefit of the shareholders then it is obvious that the management should have assessed the risk properly. The Board of Directors must have effective risk management tools. Principle 7 The company should have a capital structure which will reduce the long term cost of capital. Debt financing is cheaper than the equity financing but involves higher obligations so it is the decision which can be taken on the basis of the financial ability of the company. If the capital structure is not as per the requirements then it should be reconsidered. Environment, Stakeholders and Social issues Principle 8 Company should build effective relationship with all the parties who have an interest on the company like suppliers, customers, government, employees etc. Principle 9 For long term sustainability of the business the company should manage the environmental and social factors which give an impact on the business. A business is the part of the large society so it is the primary responsibility of a company to do some betterment for the society. Principle 10 A company has a large number of shareholders. Though they are the owner of the company but it is not possible for all of them to participate in the management of the organization so a Board of directors is nominated by them who manage the affairs of the business but when the company is taking some decisions for restructuring of capital structure or acquisition etc teen it must allow the shareholders before taking the decisions. Principle 11 The Board of Directors should guide the company with diverse range of competencies, experience and enable the company to carry its duties, responsibilities. Sometimes there are different approaches are used, a proper explanation for that should be given by the management to its shareholders. Principle 12 The company should design its remuneration structure and remuneration policies adequately and implement those timely. Real life examples on agency problems Barclays bank plc In this company the main conflict arises between the management and the shareholders because The company declared a 2.4 billion bonus shares in spite of 34% fall in profit. The company plan to cut 12000 jobs in year 2014. Management makes an argument with the shareholders that the bonus increase is necessary. The shareholders are afraid about this bonus issue because the company had a poor financial history. Tesco plc This company has also faces some agency problem recently which affects their value of the shares (Hargreaves Lansdown, 2015). Tescos market share fall from 29.9% to 29.1% in 2014. In late 2014 Tesco admitted that they were making a misstatement of their profits by 263 million as a result of which the shareholders get disappointed. The company failed to give information to the suppliers timely and they were cancelling their deals. While the investigation is going on eight executives were suspended with pay and the cost of the company increased. The share price again falls by 44% and the shareholders wealth getting affected very badly. They closed down their 43 shops and thousands of job cut occurred. But the shareholders do not lose their hopes fully. They again began to start believing the company and it is reflected by the recent share price movements as it is again started to increase. Part B Contrast and Comparison between Payback period and Net present value Net present value and Payback period A contrast and comparison of the discounted cash flow technique and another technique of investment appraisal has been made. The discounted cash flow technique that has been used for the study is the net present value. The other cash flow technique that has been used for the study is the payback period (Bragg, 2011). The discounted cash flow technique is one of the investment appraisal techniques that evaluate the attractiveness of the investment opportunity. The future free cash flow projections are analyzed in the technique of discounted cash flow and they are discounted in order to arrive at the present value (Connor, 2006). This is done for the evaluation of the potential investment opportunity. On analysis of the projects via the discounted cash flow technique the value of the project where the DCF analysis is higher than the current cost of the investment is chosen. Net present value calculation is one of the major discounted cash flow techniques. It calculates the sum of the present value of the cash flows. The inflows and the outflows of the project are discounted at the present value. The process of calculation of the net present value is a very simple technique and it is straight forward in nature (Goel, 2015). On the other hand payback period is one of the capital budgeting techniques that refers to the time period that is required to recoup the funds that has been invested. This is necessary technique to achieve the breakeven point. However, the payback period does not take into consideration the time value of money (Heysel and Filion, 2014). Dissimilarities between the net present value technique and payback period The net present value method is a dynamic technique of investment appraisal. It is a discounted cash flow technique. The technique is calculated using the technique of time value of money. The profitability from the project will be assessed on calculation of the return from the capital that has been invested. It is achieved under the assumption of the discount rate. The investment proposals whose net present value is zero will have the same return as that of the alternative investment. The investment with net present value greater than zero than the alternative techniques of investment will achieve an increase in the capital. The investment with net present value less than zero will have worse return than the alternative techniques of investment and the investment may not be able to achieve the capital expenses. The net present value method is considered as a process for the assessment of the investment techniques. It is also used as a tool for the assessment of the investment techni que by comparing it with the alternative techniques. The capital value can be interpreted in terms of monetary units by using the net present value technique (Holland and Torregrosa, 2008). The major advantage of this method is that it uses the discounted rates. On the other hand the payback period can be considered as the static investment appraisal method. The period is determined that is required to get back the capital that has been invested. This is achieved via the repayments. The investment that has the shortest period of pack back is considered as the best investment decision and it is the most advantageous decision. The payback decision is an important technique for comparison between the various alternatives. The comparison between the various alternatives can be done using the technique of payback period. The absolute risk from the investment can be determined by using the technique of payback period (Kalyebara and Islam, 2013). There are large organizations where there is specific target that is set for the investment to get recouped. The payback period can be calculated using the average method or it can be calculated using the cumulative method. However the investment decision entirely on the basis of the payback period can lea d to results that are misleading in nature. The cash flows that are considered during the amortization period are considered in the calculation of the payback period. Thus there are various discrepancies associated with the technique of payback period. Thus it must not be considered as the sole technique for the calculation of the payback period (Kimmel, Weygandt and Kieso, 2011). Limitation of the Net present value and Payback period technique The net present value technique takes into consideration, the cash flows which are both positive and negative for conducting the project at present and in the future. The future cash flows that will be generated are discounted in order to reflect that the future inflows of cash are worth for the present day. The future cash flows are adjusted using the discount rate that takes into consideration the inflation rate. The cost of capital is taken into consideration. The present values of the cash flows that are negative and positive in nature are added to calculate the net present value. The project will be accepted when the net present value is positive while it is rejected when the net present value is negative. While making decisions between various projects, the project with high net present value is selected (McSweeney, 2006). The payback period does not taken into consideration the inflation rate and the cost of capital. The purchasing power of money declines with time. This is not considered by the payback period. On the other hand the major drawback of the net present value method is that it is based on assumptions. The estimation of the discount rate is based on assumptions. Thus the calculation may not be accurate. The analysis of the investment decision using the net present value technique is accurate than the payback period. Thus it is more feasible technique than the payback period (Naumov, 2013). Practical examples of application of net present value and payback period Net present value In the year 2012, Kotak Mahindra Bank had acquired the non performing portfolio of the Barclays bank in India. The credit card business was acquired by the organization. The decision taken by Kotak Mahindra Bank to acquire the assets of Barclays Bank was a result of analysis of the profitability from the project. In such situation, the discounted cash flow technique plays a major role. The portfolio that has been acquired by Kotak has an estimation of around Rs 300 crore and the acquisition is of 200,000 cards. The present value of the inflow over the years has been considered. The outflows that will occur as a result of this acquisition have been taken into consideration. The three possibilities that can arise as a result of the investment decision have been discussed. The three possibilities can be either zero, positive or negative. The acquisition has been possible as it has produced positive results. If the present value of the inflow of cash is less than the present value of the outflow of cash then the project would have been rejected (Park, 2013). Another example can be cited to show the application of net present value. Fine Electonics Company is considering purchasing equipment that will be attached with the main manufacturing machine of the company. The cost of the equipment will be $6000 and there will be an increase in the annual cash flow by $2200. The life of the project will be 6 years. However the machine will have no salvage value. A 20% return on the investments in expected. The net present value of the investment project has been computed. The feasibility of the investment decision has been analyzed. Item Years Amount of cash flow 20% cost of capital Present value of the cash inflow Annual inflow of cash 1-6 $2200 3.33 $7317 Initial investment $6000 ($6000) Net present value $1317 Since in this case the net present value is $1317, the project will be accepted. Payback period Payback period for different projects can be analyzed for the selection of the project which will give the highest return. For example, among two projects B and C that have identical inflow of cash, the project C is considered as the cash inflow from this project is $60,000. The project C is able to recoup the invested capital within shorter period of time than the project B. The payback period is sophisticated tool for making investment decisions in the organization. The investment opportunities can be analyzed by using this tool (Peterson Drake and Fabozzi, 2002). Conclusion The paper has analyzed the importance of the agency theory and the role played by the theory in taking major decisions of financial management. The ways in which the agency problem can be reduced significantly has been discussed. The agency problem of Tesco and Barclays Bank has been analyzed and the feasible solution to the problems has been studied. The various investment appraisal techniques have been studied. A comparison and contrast between the net present value method and the payback period technique has been studied. Among the two investment appraisal technique the net present value method is a better investment appraisal technique as it analyses the projects using time value of money. On the other hand the payback period does not consider the time value of money which is one of the major discrepancies of the technique. References Agency Theory, Information, and Incentives. (2015). . Bragg, S. (2011). The new CFO financial leadership manual. Hoboken, N.J.: Wiley. Brammer, S. (2005). Profit maximisation vs. agency: an analysis of charitable giving by UK firms.Cambridge Journal of Economics, 29(4), pp.517-534. Chuang, K. (2014).FINANCIALadvisors, financial crisis, and shareholder wealth in bank mergers.GlobalFINANCEJournal, 25(3), pp.229-245. Connor, T. (2006). Net present value: blame the workman not the tool. Strat. Change, 15(4), pp.197-204. Dickinson, D. and Villeval, M. (2008). Does monitoring decrease work effort?.Games and Economic Behavior, 63(1), pp.56-76. Forbes-Pitt, K. (2011).The assumption of agency theory. London: Routledge. Goel, S. (2015). Capital Budgeting. Business Expert Press. Hargreaves Lansdown, (2015).Tesco plc dividend payments | TSCO dividends. [online] Available at: https://www.hl.co.uk/shares/shares-search-results/t/tesco-plc-ordinary-5p/dividends [Accessed 7 Jul. 2015]. Heracleous, L. and Lan, L. (2011). Agency Theory, Institutional Sensitivity, and Inductive Reasoning: Towards a Legal Perspective.Journal of Management Studies, 49(1), pp.223-239. Heysel, C. and Filion, Y. (2014). Estimating the Payback Period of In-line Micro Turbines with Analytical Probabilistic Models. Procedia Engineering, 70, pp.815-822. Holland, J. and Torregrosa, D. (2008). Capital budgeting. [Washington, D.C.]: Congress of the U.S., Congressional Budget Office. Jiraporn, P., Miller, G., Yoon, S. and Kim, Y. (2008). Is earnings management opportunistic or beneficial? An agency theory perspective.International Review of Financial Analysis, 17(3), pp.622-634. Kalyebara, B. and Islam, S. (2013). Corporate Governance, Capital Markets, and Capital Budgeting. Dordrecht: Springer. Kimmel, P., Weygandt, J. and Kieso, D. (2011). Accounting. Hoboken, N.J.: Wiley. Levante, M. (2007). Victory or Profit Maximisation?.FINANCE Bien Commun, 26(1), p.48. McSweeney, B. (2006). Net present value: the illusion of certainty. Strat. Change, 15(1), pp.47-51. Naumov, A. (2013). ON ACCURACY OF PROJECT'S PAYBACK PERIOD ESTIMATES. Theoretical Applied Science, 5(09), pp.95-99. Park, C. (2013). Fundamentals of engineering economics. Upper Saddle River, N.J.: Pearson. Peterson Drake, P. and Fabozzi, F. (2002). Capital budgeting. New York, NY: Wiley. Shim, J., Siegel, J. and Dauber, N. (2008).Corporate controller's handbook ofFINANCIALmanagement 2008-2009. Chicago, IL: CCH. Welch, S. (2010). When Wealth Management Met 2008: Now What ?.The Journal of Wealth Management, 12(4), pp.31-45. Yahanpath, N. and Joseph, T. (2011). A brief review of the role of shareholder wealth maximisation and other factors contributing to the globalFINANCIALcrisis.Qualitative Research in FinancialMARKETS, 3(1), pp.64-77. Zhang, M., Huang, L. and Cai, Y. (2012). Forecast on Payback Period of Restaurant Projects Investment by Computer Simulation. AMR, 446-449, pp.3782-3786.

Maker Of Mining And Construction Equipment â€Myassignmenthelp.Com

Question: Discuss About The Maker Of Mining And Construction Equipment? Answer: Introducation For over 90 years now, Caterpillar Inc. is enjoying continued progress in helping its customers regarding development of infrastructure, natural resource and energy assets. It is the leading maker of mining and construction equipment, diesel-electric locomotives, industrial gas turbines and natural gas diesel engines. The company is experiencing high profits but they are also facing employee dissatisfaction from a long time (Caterpillar, 2017). An issue emerges when there is a gap between employee expectations and the actual state of affairs. It is critical to determine the issues arising from the situation encountered by this company. In this aspect, a flexible, considerate and knowledgeable leader is imperative to steer the organization out of this trouble. Employing the integrative framework to understand and apply OB, the below-mentioned outcomes have been recognized which were not attained in this case. On an individual level Well-being/flourishing One of the primary goals of any business is to elevate its bottom line. However, low productivity, turnover and absenteeism cost businesses billions of dollars every year (Edwards, 2010). The wages of workers in Caterpillar are meagre. Even the union strikes were not able to give them their rights back. Majority of the workers have complaints that while the company is flourishing and recording huge profits, no reward is being transferred their way, in fact, their condition is only deteriorating. Citizenship behaviour Citizenship behaviours are discretionary, individual actions taken by employees who are beyond their job description. Employees who have a sense of citizenship will go beyond the ordinary because of their personal motivation to perform well for the betterment of the company (Cropanzano and Stein, 2009). Caterpillar has certainly not been able to invoke any such behaviour in its employees because the CEO is too engrossed in elevating only his salary and the companys profit levels while giving nothing in return to the employees who have worked so hard. Survival is the only motivation for people working there. When the company does not provide any future growth opportunities, how can its workers be expected to work for the future? When there are no rewards in the present, even the benefits and compensation they used to get have decreased, then employees cannot focus on the long term. On the group level Leadership There are not many business functions more vulnerable to a credibility lacuna than the manner in which executives approach corporate life. A feeling of disbelief emerges when managers show that they are making decisions in reasonable terms while most participants and observers are aware that politics and personalities play an instrumental part. There should have been sound leadership on a group level in Caterpillar. Strong leadership is capable of channelizing employee energy in the correct direction (Zoogah and Beugre, 2012). However, in Caterpillar, the leadership of the managers was not sufficient enough to keep the workers morale high. The middle management overemphasized cost cutting programs which further deteriorated workers condition. Not only this, even the union leadership was not strong enough, and the workers had to accept terms that were way below the standard. On the Organizational level Employer of choice To become an employer of choice implies that job aspirants are keen to work for you, due to which others envy your staff and the company receives spontaneous resumes and that the high potential employees remain with the company for the major part of their careers. Individuals are considered to be idol employer of choice when their employees record high levels of satisfaction and want to keep working for their them. Such companies provide consistent opportunities for both professional and personal growth alon with job security and a friendly workplace environment (Bach and Edwards, 2013). Caterpillar certainly does not appear to be an employer of choice. Its employees, both existing and former, have negative things to say about the company. The only reason of staying within the organization is survival. There is no other intrinsic or extrinsic motivation for continuing to work with Caterpillar. The most pressing problem in the case is of leadership. Leadership builds the foundation of a good company. If the foundation is weak, the edifice is bound to collapse. Leaders are the most important resource in any firm. It is general perception that organizations are competing on the basis of their technology or products however, they also compete based on their leaders. Good leaders develop talented people, and the combination presents better workforce which create ultimate value for business. Factors like employee de-motivation, dissatisfaction, absenteeism, high attrition are all linked to ineffective leadership (Kish-Gephart, Harrison Trevino, 2010). Understanding The Problem It is critical to recognize the causes which resulted in these issues. The causes which led to the above-mentioned problems must be identified in order to eliminate them so that the company does not face the same problems again in future. Person factors leading to the problems Personal attitudes and behaviour The CEO of the company and other individuals in leadership position seem to have a very domineering attitude. They do not think of their employees at all and are only interested in personal gains. Listening to workers as frequently as possible is highly imperative in developing a faithful and loyal team. All people need to be part of the bigger picture and process. Listening and interacting with the workers is something which the CEO of Caterpillar and other managers do not entertain. In addition to this, the CEO does not believe in being completely transparent and honest with his people. There is no reason why he should not be transparent (Wagner and Hollenbeck, 2014). His employees will only appreciate comprehending the exact position of the company. As there is no transparency, workers are distrustful. This is clearly evident from the responses of the workers where they state that the firm is making profits, but no rewards are coming their way. Th e CEO also lacks empathy toward his people as he is so ruthless in laying off workers for the sake of making more money. The CEO clearly has no interest in leadership development. Educating and building a progression plan for the employees is one thing that must never be neglected (French and Spears, 2011). However, the attitude of the CEO is such that he is only concerned about his power, position and salary. Environmental factors leading to the problem More Supply than Demand The market scenario of the industry is such that there are five candidates available to replace one. With such excessive supply of talent pool, the company is not concerned about retaining its existing employees. Moreover, it is in a strong position to negotiate its terms. Evidently, Caterpillar was able to tough out a strike at its Illinois plant, and all the workers had to agree to a six-year wage freeze and reduced benefits. The market condition gives the CEO the power to dictate his terms and lay off anyone as per his wish (Schermerhorn et al., 2011). He can also get more people at reduced wage rate which places him in a very advantageous position and his workers in a disadvantageous place. Concepts and Theories relevant to solving problem The CEO Oberhelman should try to understand and apply leadership principles for addressing the problem. He certainly needs to change his attitude and approach toward dealing with his people. Servant leadership is one of the concepts that can be applied here. A servant leader is known to share power, placing the needs of his people first and helping them grow and perform as high as possible (Griffin and Moorhead, 2013). When leaders and managers shift their perspectives and serve first, they unlock ingenuity and purpose in the people around them leading to higher performance and motivated employees. Situational leadership theory can also be applied in the present context. Oberhelmans leadership style must match with the requirements of the situation. ERG theory of motivation is also applicable here. The CEO can tie performance with rewards and incentives to keep his people satisfied and enthusiastic (French, 2011). Recommendations Leadership Development The CEO must issue a policy under which leaders at all hierarchical levels will create a proper growth plan for their subordinates. Having an education and growth path will not just increase worker motivation and retention but will also make a competitive and smarter team. Leadership pipelines must be developed at all levels. The focus should be to educate and retain employees rather than incessant layoffs (Hiriyappa, 2009). Rewarding both individual and team performance Reward and recognition serve as a great motivator for employees. When they see their good performance is being rewarded, they will strive to work harder. The CEO must devise a real incentive and benefit plan. This way it can also attain the position of Employer of Choice (Zoogah and Beugre, 2012). Conclusion To conclude, the main problems identified for Caterpillar are poor leadership and employee dissatisfaction. The causes of these problems are designated as the attitude and leadership style of the CEO and other managers who focus only on their interests and do not pay attention to the development of their employees. The ways to improve this situation have been recognized as the CEO adopting servant leadership style and rewarding both individual and team performances. References Cropanzano, R. and Stein, J., 2009. Organizational Justice and Behavioral Ethics: Promises and Prospects. Business Ethics Quarterly, 19, pp.193-233. Edwards, M., 2010. An integrative review of employer branding and OB theory. Personnel Review, 39(1), pp.5-23. Bach, S. and Edwards, M., 2013. Managing Human Resources: Human Resource Management in Transition. John Wiley and Sons. Zoogah, D. and Beugre, C., 2012. Managing Organizational Behavior in the African Context. Routledge. Caterpillar. 2017. About Caterpillar. [Online]. Available through: https://www.caterpillar.com/en/company.html. [Accessed on 12th September 2017]. Kish-Gephart, J. J., Harrison, D. A., Trevino, L. K. (2010). Bad apples, bad cases, and bad barrels: Meta-analytic evidence about sources of unethical decisions at work. Journal of Applied Psychology, pp. 95, 1-31. Wagner, J. and Hollenbeck, J., 2014. Organizational Behavior: Securing Competitive Advantage. Routledge. Schermerhorn, J., Osborn, R., Bien, M. and Hunt, J., 2011. Organizational Behaviors. John Wiley Sons. Griffin, R. and Moorhead, G., 2013. Organizational Behavior: Managing People and Organizations. Cengage Learning. Hiriyappa, B., 2009. Organizational Behavior. New Age International. French, R., 2011. Organizational Behavior. John Wiley Sons. French, S. and Spears, L., 2011. The Spirit of Servant-leadership. Paulist Press.

Lord Of The Flies By William Golding Essays (938 words)

Lord Of The Flies By William Golding The Island is a microcosm of the evil we produce in the world today. Greed, power, domination are all factors of evil in the story line and in today's society. The first human instinct is survival. The fittest will survive, as in the book, and in today's world. For example, someone who is very skilled in math or physical feats may receive a scholarship pertaining to their skill. Taller and attractive people seem to get the better and higher paying jobs. Aborigines in Australia will eat grubs and insects to survive. We may find this repulsive but human instinct rules when we have no other options. Our human instinct also makes us frown upon people with undesirable traits such as obesity, poor eyesight or deformities. These people cannot fend for themselves as well as fitter people and die off so they may not reproduce. The fittest survive. The role of survival of the fittest was best described on (pg. 8) "I can't swim on account of my asthma". Piggy was already going down in the food chain of the island. Ralph was a tall attractive boy who had very good leadership skills. It is no wonder that he voted in as leader. Piggy can't defend himself . An example of this is (pg. 17) "Shut up fatty." Another example is when piggy wants to come with them up the mountain,(pg. 20), " I'll come." " your no good for a job like this" .The boys on the island resorted to killing pigs with such savagery when they felt that they were hungry. When there is no order chaos arises. There are many examples of this in our society today. Riots happen when the people think they can get away with it. The number of people outweigh the number of authority figures. People hurt other people and steal. This is not something that would happen in an ordered society. All these people know what's right and wrong but their human instinct gets the better of them when they think they can get always with it. The same thing happened on the island. With no authority like the adults or (police) things turned into anarchy. They were trying to kill each other and ran around like savages just because they had no one to tell them they couldn't do that. There was a lot of emphasis that they were children and that is why this happened. That is simply not true. Look at my example above, people that riot have no authority to tell others to stop. You could compare that kind of behavior to what children would do if they were put in charge of the world. Today's society is full of bad leaders such as "Sadam Husain" , "Slobodam Molosovich" , "Adolf Hitler" and many more. They lead their people with false ideals and hidden agendas. Their thirst for power killed thousands of people and caused grief and suffering for millions. Hitler killed millions of Jews and that is something the German people will have to live with for ever. Sadam Husain tried to take more land for his country and failed and made more people suffer. Molosovich didn't want to give up his rule over the Albanians and killed alot of them in the process. Jacks hunger for power grew just as these leader's hunger grew too. (pg. 140) " I'm not going to be part of Ralph's lot" , " I'm going off by myself..... Any one that wants to hunt when I do can come too". Jack's power grew so great that he made the boys think that there was a beast which ultimately killed Simon. He didn't care when a big rock squished Piggy and to make things unbearable he tried to murder Ralph. Also there were many great leaders such as Bill Clinton (debatable), George Washington, Abraham Lincoln, John A MacDonald and more. These Leaders lead their people with great emphasis toward the minority and fought for equal rights. Bill Clinton puts bad leaders in their place, George Washington fought for the independence of America, Abraham Lincoln freed the Blacks from oppression and John A MacDonald fought for Canada to become a whole country. Jack was a great leader that kept the boys in order and kept their one hope of getting of the island alive An example of this is when it was Ralph's idea to go search the Island (pg. 20) " .....three of us will go on [an] expedition and find

Essay Samples About Pakistan

Essay Samples About PakistanWhen you are searching for essay samples about Pakistan, it is important to understand the importance of studying the history of this country. The people in Pakistan have been very proud of their nation and they pride themselves in their heritage. Therefore, understanding the culture of this country is very important when you are writing your essay.One of the best essay samples about Pakistan that you can find online is 'I Am Pakistani: Thoughts on Pakistan.' This essay sample offers you an insight into Pakistani culture. It helps you to answer your question: 'What makes a Pakistani?' This essay sample includes a discussion of various topics, such as religion, social class, national politics, the economy, the military, television, modern art, history, and many more.Another essay samples about Pakistan is 'History of Modern Pakistan: The Personal Story.' This essay sample covers various topics that relate to the concept of Pakistan. You will be asked to tak e into consideration the various aspects of culture, religion, society, national, and international politics, and the state of the economy. This essay sample is perfect for college students as well as those who want to write their own history-based essays.Another of the essay samples about Pakistan is 'Modern Pakistan - An International Study.' This is a great resource for students who want to expand their knowledge on Pakistan and those who want to get an insight into the different lifestyles and concepts of the people of Pakistan. In this essay sample, you will be asked to analyze current issues of modern Pakistan and you will also be asked to discuss how you view the role of religion in this country.There are a lot of essay samples about Pakistan that are perfect for students in pre-college and high school. As long as you know your subject well, you can find a topic that you will be comfortable with. If you donot know much about the subject, you can always use websites that offer these samples.You may also want to choose a topic that interests you and this can also be helpful in finding essay samples about Pakistan. You can look for topics that interest you by doing some research or by reading up on the topic yourself. You may also want to ask your guidance counselor if there are any activities in your school that are related to the topic.There are also free essay samples about Pakistan that you can check out. There are many of these websites that offer free resources for those who are looking for an idea on how to write an essay about Pakistan. These resources may include lesson plans, research papers, and other resources that you can use to better your essay writing skills.If you want to better your skills on writing about Pakistan, it is important to find essay samples about Pakistan. There are many sources available online and if you take your time to search, you can find the information that you need. Take some time to research all of the resources tha t are available and find the one that suits your needs the best.