Political Factors Essay Example | Topics and Well Written Essays - 1000 words

Political Factors - Essay Example Political situations and Events Different countries face different political situations and events. This can be exemplified when a multinational company with diverse interests and subsidiaries in foreign countries gets to face the wrath of war or political unrests in the host countries. For instance, oil companies that had investments in Iraq were profoundly affected by the America-led invasion that started in 2003. This also led to the imposition of a trade ban on Iraq that subsequently affected unconstructively the multinational oil companies operating in Iraq (Arnove, 2002). Wars and impending political conflicts affect business in that the purchasing power of consumers is compromised due to dwindling financial base. Wars and politically instigated conflicts bring about hardships to the people affected, affect the environment and more so disrupt the social fabrics in a society (Arnove, 2002). This chain eventually prejudices the purchasing power of the affected population as well as contributing to decrease in business profits. Conflicts also affect the stock market that translates to decrease in value of businesses listed in the stock market. Government Arrangement The type of government in a country also determines success or failure of businesses. A democratic country ruled by a compelling government is capable of facilitating an excellent business environment necessary for business growth and subsequent development. Democratic governments facilitate the existence of free market systems that enable businesses to flourish and grow. In democratic countries, business people are given opportunities to air their proposals and grievances to the established government agencies and therefore, formulation and implementation of policies is based on wide consultations (Le Billon, 2003). Alternatively, in a dictatorial/autocratic country, there is a likelihood of business failure due to diminutive policies and harsh treatment from corrupt senior government officials serving in the dictatorial regimes. These regimes are also known to cause anxiety and uncertainty and this is detrimental to growth and prosperity of businesses. Changes in National and International Law Businesses that operate in more than one country like multinational companies feel the heat emanating from constant change to national as well as international legislations that touch on trade and business. The issue of minimum wage laws in most countries has brought about changes in the business world as regards who is to be employed and what the employees are to earn. This is evident in the UK where the minimum wage decrees have been introduced and implemented. Other laws touch on employees’ insurances, maximum hours an employee should work each day, and also employees’ health and safety conditions. Trade tariffs and their subsequent legislations have also been reviewed and changed once in a while, sometimes benefiting business entities and in some instances, affecti ng the businesses in question. The largely influenced World Trade Organization has been accused repeatedly of favoring the developed countries at the expense of the Less Developed countries. Politically speaking, the organization applies diverse legislations and rules for dissimilar countries. It has been reported that when the Less Developed countries export their products to the Developed markets, they encounter tariff restrictions that are sometimes four times higher than that faced by rich countries exporting to the Less Developed

Online Therapy Paper Essay Example for Free

Online Therapy Paper Essay This paper is related to an online therapy. This paper consists of the elements and contents of the information that is found on any online therapy website along with the information of the professionals that are involved in that therapy. The paper also outlines the way in which most of the communication relating online therapy. The paper will also highlight the policies and regulations that provide fundamentals to run an online therapy. The paper also comprehends the state regulation authority to observe and scrutinize online therapy. The paper will also present the information relative to the ethical and security issues like confidentiality along with informed consent. The paper will end up with a small discussion regarding the benefits and risks of the online therapy. The first selected website of online therapy that retrieved was www.lzcybershrink.com where the services are advertised by Elizabeth Zelvin. Elizabeth Zelvin is acknowledged as a licensed clinical social worker along with a psychotherapist. All services are provided by the single person that is her. Ms. Zelvin as retrieved from her biography holds 20 years of experience and was involved in a private service in New York State. Ms. Zelvin handled communication relating online therapy through implication of a chat room setting. This chat room provides opportunity to clients to arrange a schedule of treatment and appointment with Ms. Zelvin before actual arrival through employing email. The professional involved provide a password for her patients and start conversation through signing in at same time through online setting. The cost is offered based on  ½ hour, hour and email exchange. The cost of a 30 minute chat is set at $65 while a 60 min chat is priced at $100 while a single email exchange costs $45. The service accepts most of the online payment systems and credit cards but the payment have to be done before the actual schedule of therapy. The website also shows advertisements regarding the books and songs she has written along with the poetry. The website is whole relating the promotion content of the Ms. Zelvin. (Zelvin, 2009) The other website that was retrieved as an online therapy website is www.live-counselor.com. This website provides services of online therapy employing a chat room for communication purposes. The website involves 200 different professionals that are therapists, counselors, along with some social workers available. The website consists of live counselors who provide a mediating service to make connections of the clients with the  required therapist, counselors and the social workers. The site provides support with addictions, coping with crisis or physical conditions, eating disorders, parenting, personal development, personality and emotional disorders, and relationship issues. The service provided is charged per minute. The rates range from $1to $1.89. Registration of credit card is done before starting of conversation. Live-counselor is just a moderator and has not required setting appointments yet the clients may sign-in anytime their service provider is available. The profile of professionals shows a mark on them while they are online. The site does not have any other content besides service providers biographies, disclaimers in regard to not taking responsibility f or anything that occurs on the website, and the billing process. (Live-Counselor, 2009) The third website relating an online therapy was retrieved from www.serenityonlinetherapy.com. The website provides the information regarding the therapy via email or a chat-room set-up. The website centralizes on a single service provider that is Carl Benedict, a Licensed Clinical Professional Counselor (LCPC) in the State of Maryland†. He got the experience of 12 years as therapist and provides services in mental health clinic along with a hospital. Mr. Benedict counts for a three years experience in online therapy. The price of chat is charged as $50 for 60 minute chat along with a discount offered as a package for the clients of online therapy. Many categories of articles are uploaded by Mr. Benedict regarding various issues clients might be experiencing like as, depression, childhood trauma, addiction, parenting, grief and loss, and duel diagnosis. The website also shows some inspirational poems along with some sayings to motivate the clients by Mr. Benedict. (Benedict, 2009) All states in the US, except California, license professional counselors. The state counsel or licensure boards administer the application processes and procedures that have been established by law in each state. The National Board for Certified Counselors (NBCC) website lists the contact information for each states, except California, Board of Mental Health Practice. The website empowers and enables clients the ability to check the credentials of professionals who are offering online therapy and make an informed decision of whether or not to hire that particular professional. (NBCC, 2009) For the reason of advancement in technology and science there do arise some ethical and security issues. It is depicted that online therapy give rise to issues  like; security, which concerned that either online therapy is safe and effective, either there is chance that clients provide true information relative to the consent, along with the confirmation of clients and professionals as real who are involved in communication process while in chat rooms. All three websites retrieved for this paper provide disclaimers on them to make clients and professionals on safe side while online therapy like If you hav e serious thoughts of hurting yourself or others, dial 911 or if you have a chronic mental illness requiring intense treatment online therapy is not an option for you(Benedict, 2009). The three websites visited all use chat room settings for communication purposes. A password is provided to the client who registers himself by making payments through credit card. That specific password is then used by the client whenever he wants to sign in not only in chat room but also for the therapy session. The client has no way of knowing what type of security software or measures the online therapist is using to protect their personal information. Nothing guarantees that the client is who he or she claims; in a traditional setting the client and the therapist know who is present. Online therapy present some barriers regarding the options of making payment and the client is also going through a risk to pay for an online therapy session. All three websites involve a credit card payment which provides risks to clients in terms of leaking of their credit card and personal information because of providing information online. On other hand in physical setting the credit card is only swiped or the payments can be done through cash and cheques. The client holds every control regarding his personal information while in a physical office or clinical setting along with having every possible payment option for making payments. Some of the ethical issues also arise because of the technology advancements, like as is it ethical to provide online therapy when there no guarantees that the client and therapist say he or she is. In an office setting at least the client and the therapist can use ids to ensure identity. Online therapy does not require medical records; how is the therapist supposes to know the physical and mental health of a client? The therapist has to rely on self-disclosure which is taking a big risk on the therapists behalf. How can a therapist tell if the client is fully participating in therapy? In a traditional setting the therapist can rely on body language which is how most human communication is made. This part of  report presents some risks that are involved while involving oneself in online therapy. A traditional therapy session allows for a therapist to get a full picture of the clients well-being by having access to medical records and being able to read a clients body language. Another uncomfortable element with online therapy is because clients likes to know who is helping him, what he or she looks like for security reasons, and the inability to read body language is upsetting. Some benefits that are derived from online therapy in terms of clients are discussed in this part. An example of advantage is anonymity; this helps those clients who face some social difficulties in a traditional therapy setting and hence can find it advantageous to be in their comfort zone while at their own home. Clients having difficulties to approach a regular and dependable transportation can be benefited by the online therapy. This technology also facilitated those clients who lack the presence of any local therapist and thus can get the opportunity to find someone online for that help and assis tance. Online therapy is an alternative for clients and is the clients choice to decide what works best for him or her. After going through an in-depth study of the online therapy it is recommended that the client has to measure the both sides of the online therapy before deciding for himself what to implement. Individual needs vary from person to person so we cannot say what work best for whom. It is also depicted that the technology on one side is exciting as well as controversial at the same time. References Benedict, C. (2009). â€Å"Services†. Retrieved from: http://www.serenityonlinetherapy.com Live-Counselor. (2009). â€Å"Services†. Retrieved from: http://www.live-counselor.com The National Board for Certified Counselors(NBCC) . (2009). Retrieved from: http://www.nbcc.org. Zelvin, E. (2009). â€Å"Elizabeth Zelvin†. Retrieved from: http://www.lzcybershrink.com.

Cultural And Crop Related Festivals

Cultural And Crop Related Festivals Agriculture is the prime and predominant occupation of tribals and the culture of the tribal communities is reflected in their agricultural practices. Their main entertaining modes or ways are the celebrations of different festivals in different seasons that relate to and depend on agriculture produce. The study was made in Seethammapeta Mandal tribal areas on their socio- cultural traits influenced by the crops and forest mining produce that they acquire. This paper details the analysis of how influential the crops and F.M.P. are on the tribals socio-cultural activities in Seethammapeta Mandal and understanding the thematic perception of each festival that the tribes celebrate in different seasons as well as to analyze the concept of cultivation based much on spiritual confidence rather than logical process of production. The encouragement and support from the government legislation for the progress of tribal music and dance have inculcated a new sense of pride in their music and so cial ethos play an important role. KEY WORDS: Crops F.M.P., Primitive tribal groups, Spiritual confidence, Time cycle, Tribal culture. INTRODUCTION The tribes generally have a group of families living together and these groups have pre-historic economy, with several rituals and customs. Certain tribal languages have no script except speech. They live in interior forest areas far away from the civilized world. They have slash burn cultivation and hunting of the wild animals as the way of life. They have a common religion, common customs and live as a community. In general tribes are of peculiar type of people living all over the world. Agriculture is the prime and predominant occupation of tribals and the culture of the tribal communities is reflected in their agricultural practices. The agro-climatic conditions and the resource potentialities differ from one tribal area to another. This is due to the nature of soil, fertility, availability of water etc. Due to prevalence of unemployment and underemployment, agriculture alone cannot sustain them throughout the year. So the tribals must rely on labour works and the forest produce which occupies and play an important role in their daily life. Hence the tribal economy may rightly be called as agro forest based economy. The isolated location of the tribes from the main stream of life is hindering their economic activities. The illiteracy among the tribals and the rich forest produce tempted the money lenders and small traders to exploit the tribals. India ranks the second in having the tribal concentration in the world next only to Africa. India holds unique position in the concentration of tribal communities. Andhra Pradesh is one of the States where the tribals with different cultures especially in Seethammapeta Mandal of Srikakulam District, the important tribes are Savara (Hill and plain) and Jatapu. Savara are one of the important Mundari speaking tribes of India, on linguistic and ethnological grounds. Savara can be considered as pre-Aryan and pre-Dravidian. Though, there were so many sub-divisions among Savara, broadly they are treated as Konda Savara (Malia Savara) and Kapu Savara. Savaras are divided into a number of endogamous tribes. It has been noted that among sub-tribes the Konda Savara tribe have restricted themselves to the tracts of hill and jungle covered valleys. But as the plains are approached, traces of amalgamation become apparent, resulting in a hybrid race, whose apperance and manners differ but little from those of the ordinary citizens. The culture of the hill Savara is very ancient and they are considered by government as primitive tribal groups (PTG) and the Sa varas in plains are not considered as PTG in the Srikakulam district. The researcher has observed considerable differences between Konda Savaras and plain Savaras and also they are equally numbered in tribal population of the district. The other important tribes residing in Seethammapeta mandal are Jatapu, who are socially, economically and culturally advanced tribe in the Seethammapeta mandal. Actually, the other tribes residing in Seethammpeta mandal are insignificant in number. Konda Savara, plain Savara (hereafter mentioned as Savara) and Jatapu are in equal proportion and they consist of nearly 92 per cent of the total tribal population of the Seethammapeta Mandal. Their main entertaining modes or ways are the celebrations of different festivals in different seasons that relate to and depend on agriculture produce. Objectives To analyze how influential the crops and F.M.P. are on the tribals socio-cultural activities in Seethammapeta Mandal To understand the thematic perception of each festival that the tribes celebrate in different seasons. To analyze the concept of cultivation based much on spiritual confidence rather than logical process of production. Present Study The study was made in Seethammapeta Mandal tribal areas on their socio- cultural traits influenced by the crops and forest mining produce that they acquire. Tribal celebrate most of the festivals with respect to the crop grown at particular seasons and throughout the year. In the survey throughout the year, it is revealed that in all the 12 months, they celebrate different festivals by which they worship their traditional gods and godesses in association with agricultural and forest mining produce. This paper deals with wholesome information about how different cultural traits, traditional festivals are influenced by the crops (Agricultural F.M. Produce) in Seetampeta Mandal, Srikakulam District. TIME CYCLE REPRESENTING CULTURAL AND CROP RELATED FESTIVALS January: January is an important month for all Hindus of Andhra Pradesh for the most auspicious festival Sankranthi is celebrated in a grand way, similarly tribals also celebrate it, but the way and process of celebration is somewhat different .They accompany the crop red grass with Sankrathi, conventionally called as Redgram week festival. They have the custom of tasting newly cultivated redgram only after this celebration refers that it should be presented to the god first. Sankranthi in this month is also celebrated in a distinguished way that the entire tribals worship village Godesses regionally called as GRAMA DEVETAS by sacrificing crows and continue the procession of the Godess with all relatives. Another festival in this month called Tiger Festival which they call as PULI PANDAGA in which a goat is sacrificed to the Yojjos in the name of the persons who got expired in the family. They enjoy by taking part in dances like Dhinsa, ancient orchestra and tribal games in this fest ival. Dancing in the villages provides them opportunity for collective rejoining as well as inculcates in them a sense of cultural solidarity. February: Siva Ratri is pretty famous in this month even for tribals and their customary practice is to celebrate the flowers festival (POOLA PANDAGA in their language) in such a way that all the tribals gather flowers from all corners of the forest to worship the Godess and then onwards flowers are used for other personal and commercial purposes. This month is famous for marriages which are generally arranged under the direction of villege Jannad in a formal and traditional way. There is a celibration of cereal week where no cereal produced is tasted till the celebration is held. Another festival in this month is Toku festival in which they construct a small hut in the middle of the villege for their traditional priest called Yojjodu as a representative of the God, is decorated with the feathers of peacock proceeded with a grand procession afterwards. There is another festival called Solapur festival celebrated for the productive growth of cultivation by getting away from the evils, envious deeds and harmful thoughts from others. March: New amavasya is pretty famous and tribals celebrate by being articulated as bear with appropriate make-up and Jannod the formal priest store seeds in a swing. Later all taste the newly cropped mongo .Then follows other festivals in this month called New Jaggary, Jakaramma Temple and tamarind festival are also celebrated. April: There is a festival called Ujjamma Godess festival for the welfare of the villege in which they make a cart and fill it with a kind of fruits called Palli and worship with chik sacrifice and represent the same at the outscirts of the villege. They also celebrate Perantal celebrations for the welfare of the earth, forest and water which give better existence of them. May: Tribals are very busy with agriculture in this month where Seeds Festival is celebrated. All the tribals gather and clean all the agri-utencils and tools and worship them with water melted with rice powder .They also gather sample seeds from every family for puja (worship) with an animal sacrifice and then distribute seeds to all farmers assuming that the permission granted from the God to continue the process of cultivation. June : In this month there are two festivals called Tenka festival and Corner festival (Mula Panduga) in which all tribals taste seeds firstly and celebrate with riped mango by digging them at the corner of every house .This is one of the important festivals for them as the crop of mangos from the forest give them good return. July: There is a festival called Mokkalu Fest in which all tribals take out the unwanted plants in their fields to prevent deceases and increase the productivity of the crop. In this festival a cow is sacrificed to the God. August : The major and important tool they use for the preliminary process of cultivation is ploughing and tribals celebrate PLOUGH WEEK where the plough is neatly cleaned with turmeric powder, decorated with bangles and worship with again a cocks sacrifise so as they start cultivation ploughing with a new instrument. September: ANKUDA Leaves festival is celebrated is this month to get away from the dangerous mosquitos and bees which cost their health. In this Connection they gather every different flower from the forest and worship their God. October: DURGA FESTIVAL traditionally called DASARA is also celebrated by them just as every one of us does. They decorate all the tools, weapons, utensils and furniture with turmeric powder in order to worship the God. Another festival called NANDAMMA Godess Festival is also held at the time of the corp has been handed over from the fields. They celebrate this festival with articulations and roleplays by making up like their traditional Gods. They also worship JAKARI with potatoes and then the corp is taken back to home. November: There is a different festival in the way of games called KANDI GAMES in which they play with their skills of playing withaxes and dancing DHINSA and the tiger festival as refered before also celebrated in this month. December: CHUKKALA Festival is celebrated exclusively by the person who married second time after the dimise of first wife .In order to the former wife should be satisfied in the heaven and assuming that there will be a problem if it is not celebrated , they present four animals sacrifice to the God. There is another festival called AGAMA festival for preventing unnecessary demises is the family. At the end of the month KANDA festival starts and new red gram is tasted by all and will be continued to Redgram week in the month of January. Findings and conclusions: In most of the festivals there is a common practice of presenting animals like cock, cow and goat to the God or Goddess whom they worship. The basic source of their lively hook is either agriculture or acquiring Forest Mining Produce, so they worship the God or Goddess with newly originated produce or endowrsed to the God and afterwards they enjoy by eating and selling them. Most of their practice of enjoying every festival with non-vegetarian, liquor, Dinsa dance articulations. They celebrate festival for the most consumed crop or produce that is directly helpful and gainful to their livelihood such as redgram, cereals, tamannad custard apple and etc. They also give much importance to the utensils, tools and weapons in some festivals as their process of cultivation or FMP starts with them only. There are many superstitions they believe in and very proud to follow the traditional practices in every festival. They respect the mythological master called YOJJODU and JANNADS whom are believed as the representatives of the God or Goddess. They do not generally allow other castes to join their festivals as they look into them as almost their utmost responsibility much associated with community. They believe much in nature and in every festival they worship pancha bhutaas (Five Survivors i.e. air, earth, water, sky, and fire) for their survival is depended on them. The participation in every festival is found from every small village, every house and every person in the family. There is nothing like one exclusive festival is for one separate segment. Fishing hunt is one of the livelihoods for them exclusively for the tribals who reside at the bank of any river. It is found almost all the tools used by them for cultivation, hunting, and gathering produce from the forest are manufactured by them only. Step irrigation is the main system that they proceed with for cultivation. There are famous Gods and Goddess named Gramadevata, Durgadevi, Nandemma Goddess, Goddalama Goddess, Vijjamma Goddesses and etc. Traditional music and dance is slowly becoming less popular among the literate sections of the tribal society. The encouragement and support from the government legislation for the progress of tribal music and dance have inculcated a new sense of pride in their music and social ethos play an important role and significance of socio-cultural factors cannot be ignored in formulation of schemes for their all-round sustainable development. The degree of change with respect to traditional practices and celebrations of festivals is more in Jatapu and Kapu Savaras who are residing in the surroundings of Seethammapeta and in roadside villages. However, the degree of change for the same among these tribes is limited in the interior villages which are not having any transport or communication facilities.

Ernesto Che Guevara Essay -- Biography Ernesto Che Guevara Essays

Ernesto Che Guevara Ernesto "Che" Guevara has undeniably been one of the most powerful icons of the past fourty years. The Argentine revolutionary has had his picture widely printed on shirts and posters and has become a symbol for the (often young) anarchist. Yet, how many of us really understand or know what "Che" stood for? Do we know what his philosophy was about? Very few of us have taken the time to understand the goals and principles of Guevara and what he fought for - to death. Dr. Ernesto Rafael Guevara de la Serna (May 14, 1928 ? October 9, 1967), commonly known as Che Guevara, was an Argentine-born revolutionary and Cuban guerrilla leader. Guevara was a member of Fidel Castro's "26th of July Movement", which seized power in Cuba in 1959. After serving various important posts in the new government, Guevara left Cuba in 1966 with the hope of fomenting revolutions in other countries, first in the Democratic Republic of the Congo and later in Bolivia, where he was captured in a CIA-organized military operation. The CIA wanted to keep him alive for interrogation, but he was executed by the Bolivian army. After his death, Guevara became a hero of Third World socialist revolutionary movements, as a theorist and tactician of asymmetric warfare. It's in 1952, during a journey Ernesto made with his motorbike around South America, that he became harshly aware of the ravages of capitalism through the situation of the Native Americans. Influenced by the works of Jean-Paul Sartre, Pablo Neruda, Ciro Alegrà ­a and Karl Marx, Che Guevara devoted his life to fighting the "capitalist octopuses" to establish a socialist system that would be fairer to the people. As a young medical student Che set out on a motorcycle to travel around South America. The poverty and oppression and the impact of imperialism aroused his political awareness. In 1954 the Guatemalan government of Jacobo Arbenz attempted to nationalise the vast landholdings of the massive US multinational the United Fruit Company. The US government (which included two executive directors of United Fruit) organised an armed coup to overthrow Arbenz. Guevara who was in Guatemala at the time was appalled. He believed that well organised armed resistance could have defeated the coup and saved the Arbenz government. Escaping to Mexico he met a group of Cuban revolutionaries led by Fidel Castro, ... ...onary, humanist and extremely charismatic, Ernesto "Che" Guevara surely appeared as dangerous to many political leaders of the time, and still today, no one knows for sure who was behind his execution, in 1967. Two sides have particularly been designated as possible culprits: the CIA and Fidel Castro, who could have both felt threatened by the growing influence and determination of the revolutionary. Authentic to the extreme, Guevara dedicated his life, his existence to the cause he believed in, even if it implied sacrifices: "Our sacrifice is a conscious one; it is in payment for the freedom we are building." Today, "Che" has become a popular symbol while his image is too often dissociated from the philosophy that built it. Che Guevara remains, to many, a modern time hero, whose struggle and devotion made him one of the greatest revolutionary figures of all times. Maybe this incredible popularity is due to the humanist, sincere personality of a man who never stepped back, never sold out and fought passionately, to death ("Patria o muerte"). Maybe it is also due to the fact that, in today's world, many people feel that his fight is still necessary.  ¡Hasta siempre, Comandante!

APA format

Due to follow a guide for citation and assignment paper, the American Psychological Association PAP) style created a gulled for academic format specified In â€Å"Publication Manual of the American Psychological Association† In July 2009. (American Psychological Association, 2014). So probably you'll wonder why and how it is useful. PAP format basically help you to do a better research and provide a good list of reference avoiding copyright issues and/or plagiarism.Besides, paraphrasing can be use, but only with citation in the text, since you haven't do the research directly, just taking it from the source, giving credit to the original author. Furthermore, for school/college/ university paper work evaluate your ability to collect Information to build up your work. For Instance, a research for having a good Idea, and be able to support It with source, is equivalent a good work. As it was mention before, it will give the document a specific format in which help everything to b e in order and at the same time to provide a professional look.General rules are to be written in 12-point size Times New Roman. For the title, don't underline or bold it. Double-space with uniform margins of 1 In (2. 54 CM). Hanging indents at the reference list (starts on a new page ND also arrange sources In alphabetical order with only the author's given name (not full name) with space between Initials. Provide the year of publication edition number, place of publication, publisher name, and the page. For web pages, include the day it is retrieved.In addition, capitalize only the first letter of first word in a title, and italicize the title. (BBC The Library, 2014) Provide number of pages at the top right header of the page, and at the left size the title. (Lecher C. M. , E. A. Singer, & American Psychological Association. 2008). In order to gain a complete understanding of PAP format, It Is necessary to read the gulled provide In books or even at Google, following the examples provided and avoiding the mistakes.

Biography of John F. Kennedy Jr.

Biography of John F. Kennedy Jr. John F. Kennedy Jr. (November 25, 1960–July 16, 1999), the son of President John F. Kennedy, was considered the heir to one of Americas greatest political dynasties until his death in a plane crash at age 38. In one of the most iconic photographs in American history, the 3-year-old Kennedy is seen saluting his fathers casket three days after the assassination of John F. Kennedy. Fast Facts: John F. Kennedy, Jr. Known For: Attorney, journalist, and son of President John F. KennedyBorn: Nov. 25, 1960 in Washington, D.C.Died: July 16, 1999 off the coast of Marthas Vineyard, MassachusettsEducation: Brown University, B.A.; New York University, J.D.Spouse: Carolyn BessetteKey Accomplishments: Criminal prosecutor in New York City, founder and publisher of George magazine, and founder of non-profit Reaching UpFamous Quote: â€Å"People often tell me I could be a great man. Id rather be a good man.† Childhood John F. Kennedy Jr. was born on November 25, 1960- the same month his father, John F. Kennedy, was elected to his first term as president. He became an instant celebrity, despite his parents attempts to give him as normal an upbringing as possible. Despite spending his first few years of life in the White House, however, Kennedy later said that he had lived a pretty normal life. Kennedy was the second of three children born to the Kennedys. His older sister was Caroline Bouvier Kennedy; his younger brother, Patrick, died in 1963, two days after birth. On his third birthday, in 1963, JFK Jr. became the subject of one of the most iconic scenes in American history: standing on a Washington street, wearing a dress coat, saluting his fathers flag-draped coffin as it passed by on a horse-drawn carriage on the way to the Capitol. Kennedys father had been assassinated three days earlier in Dallas, Texas. Bettmann Archive / Getty Images The presidents widow moved the family to the Upper East Side of New York, where JFK Jr. attended a Catholic elementary school. He later attended Collegiate School for Boys in New York and Phillips Academy in Andover, Massachusetts. Meanwhile, much of the American public waited for the young Kennedy to join the political world that had already been shaped by his family. Careers in Law and Journalism JFK Jr. graduated Brown University in 1983 with a degree in American history. He then attended law school at New York University, graduating in 1989. Many considered his law degree a precursor to a political career, but JFK Jr. instead went to work in the Manhattan district attorneys office for four years. In 1995, Kennedy launched a magazine, George, which blended celebrity and public affairs. The magazine was meant to be a mass-market political journal, or, as one of its editors explained, a political magazine for Americans turned off by political magazines. Kennedy wrote and served as editor-in-chief for George. Its publication ended in 2001, after Kennedys death. Marriage to Carolyn Bessette In 1996, JFK Jr. arranged a secretive wedding to Carolyn Bessette, a fashion publicist. The couple went to extraordinary lengths to conceal their nuptials from the public. The wedding was held on an island 20 miles off the coast of Georgia; they chose that particular island in part because it had no access by road or telephone, and almost no lodging. The public learned of their marriage a week after it happened. The couple had no children. Death On July 16, 1999, Kennedy was piloting a small single-engine airplane headed towards Marthas Vineyard, with his wife and her sister onboard. The plane crashed into the Atlantic Ocean. The bodies of the three crash victims were found off the coast of Marthas Vineyard five days later, on July 21. One year later, in 2000, the National Transportation Safety Board ruled the crash an accident caused by Kennedys failure to maintain control of the airplane during a descent over water at night, which was a result of spatial disorientation. The government agency said haze and darkness were factors in the crash. Legacy Kennedy was raised to abide by a scriptural passage found in Luke 12:48: Of those to whom much is given, much is required. It was in that spirit that, in 1989, he founded a nonprofit called Reaching Up, which helps low-wage health and human-services professionals attain higher education, training, and career advancement. Reaching Up continues to help students pay for tuition, books, transportation, child care, and other education costs. Sources Blow, Richard. American Son: A Portrait of John F. Kennedy, Jr. Henry Holt Co., 2002.Grunwald, Michael. â€Å"JFK Jr. Feared Dead in Plane Crash.†Ã‚  The Washington Post, WP Company, 18 July 1999, www.washingtonpost.com/wp-srv/national/longterm/jfkjr/stories/kennedy071899.htm.Seelye, Katharine Q. â€Å"John F. Kennedy Jr., Heir To a Formidable Dynasty.†Ã‚  The New York Times, The New York Times, 19 July 1999, www.nytimes.com/1999/07/19/us/john-f-kennedy-jr-heir-to-a-formidable-dynasty.html.

The People vs. Eighth Amendment essays

The People vs. Eighth Amendment essays The People vs. Eighth Amendment The business of cruel and unusual punishment has long been juxtaposed with the discussion of the death penalty. Beginning with Adam and Eve and continuing to the present day, society has struggled with the notion of punishment. From Salem, Massachusetts, where 24 alleged witches hanged, to Starke, Florida, the home of the states infamous electric chair, Old Sparky, punishment has evolved from a humiliating, public spectacle to our current system of private, isolated incarceration. In the 1972 United States Supreme Court decision of Furman v. Georgia the relationship between public consensus and correlating jurisprudence is clear. In this case the Supreme Court reverses Georgias convicted of three Negro men to death. Capital punishment is struck down on the basis of violating the cruel and unusual punishment clause of the Eighth Amendment. The court concluded the penalty was arbitrary, lacking guidelines for juries and judges, and consisting of insufficient due process safeguards. Many justices in their concurring opinions justify their opinions by stating the penalty was morally unacceptable to the people of the United States. The decision maps out a repetitive trend between what the people think is right and how the court responds. Less than four years after Furman v. Georgia, the Supreme Court reverses the decision to do away with the death penalty and instead reinstates it, even broadening the boundaries in some aggravated rape cases (Furman). The juvenile death penalty is a very controversial issue and it is becoming increasingly unacceptable in most countries. In fact, the United States is one of the few countries left to sign the Convention on the Rights of the Child which abolishes the death penalty for juveniles. Likewise, the United States is one of only eight countries in the world to have executed a juvenile offender since 1990. In Octobe...

The Hungry Years essays

The Hungry Years essays Paradis, Adrian A. The Hungry Years. Philadelphia. 1967. There were few changes that could be seen; for the most part the revolution was quiet. Never before had so many people of the United States held in their hearts despair, panic and want. Yet out of the fear of the Depression came social reforms that have strengthened America and its people. The Depression was the worst economic decline ever in the United States history that spread to practically all of the industrialized world. It began in late 1929 and lasted for about ten years. There were many factors that played a role in causing the depression, but the main cause was the unequal distribution of wealth during the 1920s, and the wide stock market speculation that happened toward the end of the 1920s. These factors, along with others, caused the American economy to turn upside-down. The roaring twenties was a time that the United States prospered greatly. The nations total income rose from $74.3 billion in 1923 to $89 billion in 1929. However, the benefits of the prosperity of the 1920s were not shared evenly among all Americans, and the maldistribution of income between the rich and the middle class grew throughout the decade. Two major reasons for the gap between the rich and the working class were the increased manufacturing output throughout this period and because the federal government favored business, which included the wealthy who put their money into these businesses. The growing gap between the wealthy and the middle class made the United States economy unstable. For the economy to function properly, total demand must equal total supply. In an economy with such an unequal distribution of income, it wasnt always likely that the demand would always equal the supply. Basically what happened ...

Bank Muscat is the chief financial services giver situated in Coursework

Bank Muscat is the chief financial services giver situated in Sultanate Oman in southwest Asia - Coursework Example The bank through its products and services to the customers has maintained a top position in the best banks in the region, for over six years. It has also received other rewards in the last several years to recognize its exemplary products and services (BANK MUSCAT 2012). The biggest achievements of Bank Muscat in the last few years are attributed to their strategic capabilities in the market. In addition, the bank’s exploitation of their market strengths results to well deserved competitive advantage over the other financial service providers (ALLARD 2004). Reports indicate that the bank’s capabilities lie in their ability to implement high levels of accounting standards, corporate governance, mergers and acquisitions, partnership and alliances, revolutionary products, and regulatory compliance. The accounting standards represent the principles that guide accounting practices. The International Accounting Principles (IAP) are accounting standards that are widely accept ed as apt to the field of accounting (GROSSMAN & LIVINGSTONE 2009). The Bank Muscat ensures that they maintain high levels of these standards that entail how the bank prepares and presents its business income and expenses, its assets and liabilities (STICKNEY 2010). As a result, the customers are attracted by the transparency provided by the bank regarding their operations. An increase in the number of customers served daily enhances the competitive advantage of the bank. As a result, an increase in the customer base enhances profitability for the bank in the long-run (ALLARD 2004). Corporate governance is the set of systems and principles used to govern an organization such as Bank Muscat. It offers the rules of how the organization can be controlled in order to achieve their objectives (BESLEY & BRIGHAM 2011). Furthermore, Bank Muscat has received several awards in the implementation of corporate governance. This is because corporate governance is done in a manner that adds value of the bank and proves beneficial to the stakeholders in the long-term (STEGER & AMANN 2008). The bank’s stakeholders include the shareholders, customers, management, and other individuals involved in the welfare of the organization. In 2012, Bank Muscat received the prestigious Hawkamah Bank Corporate Governance Award. The award honors the bank’s efforts of improving their corporate governance practices further than the legal and regulatory obligations imposed by their relevant jurisdictions. This entailed the introduction of an exceptional approach to various corporate governance areas and the corporate social responsibility. As a result, the employees work to their full potential thus providing excellent services to their customers. This leads to the creation of customer loyalty thus maintaining the banks competitive advantage over their competitors (EVANS 2002). Mergers and acquisitions, partnerships and alliances, are key Bank Muscat capabilities that have led to improved competitive advantage over competitors (BRUIJN 2002, COYLE 2000). It entails a corporate strategy that brings separate entities together to form larger business organizations (AMERICAN BAR ASSOCIATION 2006). It also involves the assimilation of smaller businesses to a large corporation to minimize competition. Bank Muscat has exercised the mergers and acquisition activity to continue amassing customers and increasing profitability

Laptop issuance to sales persons and return on investment Research Paper

Laptop issuance to sales persons and return on investment - Research Paper Example The study conducted by Atrostic and Nguyen (2006) categorically declared that â€Å"the prevalence of informational technology (IT) means that just investing in IT no longer confers a competitive advantage† (p. 1).After all, business use of computers dates back to about 50 years ago. Could it really be possible that man has outgrown the need for the good old computer? However, what Atrostic and Nguyen (2006) actually meant was that the manner in which businesses use IT does matter. Hence, competitive advantage may be achieved depending on how businesses harness the power the computer. Research Question and Justification Hoskins (2011) maintained that the â€Å"laptop is tailor-made for business† (para. 1). Coincidentally, I overhead two neatly attired gentleman seated on the next table talking about their accomplishments for the day. The two appear to be sales people and were using information from their high-end laptops every now and then, either to support their asser tion or to clarify their point. It is common knowledge that most companies issue laptops to their salespeople, presumably to facilitate presentation to prospective clients. But would the issuance of laptops to employees in charge of sales or marketing produce a corresponding return on investment? This paper was conceived to gather research-based evidence of the aforementioned quandary. Specifically, the study would address two research problems: (1) What are the advantages of using laptops for people engaged in sales? and (2) Is there a relationship between use of laptops by salespeople and increase in accumulated sales? The study will also test the null hypothesis that â€Å"there is no significant relationship between use of laptops by salespeople and an increase in their accumulated sales† based on a non-directional or two-tailed analysis and a 0.05 level of significance (0.05). The justification for this study rests on the premise that although empirical studies have alre ady demonstrated the link between productivity and use of computers and IT, results have been generalized for the manufacturing industry, not strictly on the sales aspect. If a direct and significant relationship is confirmed between use of laptops as an aid to sales talk and presentations and corresponding increase in accumulated sales, it is highly possible that issuance of laptops to salespeople by the companies they represent does, indeed, produce a return on investment. Hence, this paper will serve as an exploratory study to pave the way for further investigation of the association between issuance of laptops to salespeople and return on investment. This study adopted a descriptive – exploratory methodology using a researcher-constructed survey questionnaire as the primary data collection instrument. The research instrument consists of three parts (respondent profile, advantages of using laptop for salespeople, and relationship between use of laptop increase in accumulat ed sales) and 10 items. Respondents of the study were salespeople selected using purposive sampling. It is a non-probability sampling technique wherein the sample is chosen on the basis of the researchers’ judgment about some appropriate characteristics of the sample, and is alternatively called judgment sampling (Zikmund & Babin, 2010). A small sample of 25 respondents served as resources for the study. Profile data were presented as frequency and percentage distributions in the form of a pie chart. Advantages of using laptop for sales people were shown as horizontal graphs. Methodology for examining the relationship between use of laptops and increase in accumulated sales is discussed in the results section of this paper. Review of Related Literature and Studies Jenkins (1999) outlined several advantages of using a laptop computer in sales in terms of: (1) professional image; (2) resource and time management; (3) information dissemination; and (4) customer interaction. In a customers’ perspective, the use of technology such as laptops

Midterm Essay Example | Topics and Well Written Essays - 1250 words - 2

Midterm - Essay Example There are things that come into realization once the person is in tune with his spirituality, and often times it would even be life changing. c. Culture, gender and religion are important factors when counseling a family with HIV/AIDS. Culture dictates what should be and should not be – taboos; gender has its implications as well, women especially from minority groups and has low-income suffer psychological distress (Catz et al, 2003); Like for example, in the case of Latino culture, women are expected to be submissive to men while the men are expected to prove themselves. The concept of â€Å"machismo† dictates that males who had sexual intercourse with more women are more of a man than the others who have not. This of course plays a major role in the spread of the virus. e. Those who have been diagnosed positive of HIV are prone to domestic violence – usually in terms of physical and verbal. Some women may be beaten, forcing them to have sex or emotionally blackmailed, usually with guilt trips by men also forcing them to have sex. Women, particularly African American, who are infected by HIV/AIDS are more likely to be victims of physical and verbal abuse compared to those who are not infected (Jones et al, 2003). a. When counseling adolescents, it is important to point out to them that sexual behavior and sexual orientation is different so as to make things clearer and easier for them. Sexual orientation is simply a component of identity, and sexual behavior includes activity. According to Ryan and Futterman (2001) young kids limit sharing about their sexual identities with other gay people as they feel they might be criticized, lose friends, become victims of violence, etc... b. Two negative outcomes which may occur among LGBTQ populations due to internalized homophobia would be the inaccuracy of the information given to teens, and the

English Essay Example | Topics and Well Written Essays - 1000 words - 28

English - Essay Example The animals come here to quench their thirst; some lapping up the water with their tongues, others taking a deep in the relieving water. Birds from all corners of the forest come to make their nests near her; for there is always plenty food where she passes. The little boys and girls are always lost in wonder at the graceful flow of the river, creating shallow pools in its wake where they spend most of their time splattering around without a care in the world. Their parents nearby are going on with their daily chores of fishing, cleaning, and singing in unison joining nature in its never ending orchestra by the river. It has many sacred places and shrines where elders come to perform rites to their ancestors, where initiates come to be one with nature, to ask for her permission before taking the bold step into adulthood. It is the place where people feel at most with nature and their gods. It is where all life culminates and where it is most vibrant; it is felt in the inner core of the soul of everything there. River Ptoon is a home away from home. In an eerie calm by the river bank a scream shatters the silence another victim falls prey to the unusually calm river. Lurking in the deeper pools of the river there are ravenous predator fishes and alligators ready to snap their jaws at anything that comes near them. The ever present birds always ready to play the role of â€Å"garbage collectors†, nibbling the bones of the dead animals to scorched white, cleaning away the wine; the water stinks of death after the massacres. The stones by the banks are marked by bird droppings like a mad painter’s work of art. Only the tall old trees remain alive with their long deep tap roots reaching the pure water underground, and their shadows casting sinister looking impressions. Parents bring their children to play but pretend to be busy with their chores, but they are hawk eyed for any sign of danger from within or out of the

Midterm Essay Example | Topics and Well Written Essays - 1250 words - 2

Midterm - Essay Example There are things that come into realization once the person is in tune with his spirituality, and often times it would even be life changing. c. Culture, gender and religion are important factors when counseling a family with HIV/AIDS. Culture dictates what should be and should not be – taboos; gender has its implications as well, women especially from minority groups and has low-income suffer psychological distress (Catz et al, 2003); Like for example, in the case of Latino culture, women are expected to be submissive to men while the men are expected to prove themselves. The concept of â€Å"machismo† dictates that males who had sexual intercourse with more women are more of a man than the others who have not. This of course plays a major role in the spread of the virus. e. Those who have been diagnosed positive of HIV are prone to domestic violence – usually in terms of physical and verbal. Some women may be beaten, forcing them to have sex or emotionally blackmailed, usually with guilt trips by men also forcing them to have sex. Women, particularly African American, who are infected by HIV/AIDS are more likely to be victims of physical and verbal abuse compared to those who are not infected (Jones et al, 2003). a. When counseling adolescents, it is important to point out to them that sexual behavior and sexual orientation is different so as to make things clearer and easier for them. Sexual orientation is simply a component of identity, and sexual behavior includes activity. According to Ryan and Futterman (2001) young kids limit sharing about their sexual identities with other gay people as they feel they might be criticized, lose friends, become victims of violence, etc... b. Two negative outcomes which may occur among LGBTQ populations due to internalized homophobia would be the inaccuracy of the information given to teens, and the

Investigate the employees attitudes and perceptions in an organisation Essay

Investigate the employees attitudes and perceptions in an organisation to discover how these were related to employees job satisfaction and performance - Essay Example These two have been found effective indicators of job satisfaction in past studies. By using a survey questionnaire, the author would like to measure and understand how perception and employee attitude affect job satisfaction and ultimately job performance. In the past, a massive amount of attention has been given to studies involving job satisfaction and employee-related topics. Since the beginning of the industrial revolution, employees and employers alike have both explored opportunities to improve working conditions and productivity that could lead to higher profitability. The changing times and needs of employers have been subjected to criticism and attention. What employers found motivating years ago may be different from what motivates them today? Their attitudes and perception could also be different from recent years. Such is why companies find it crucial to update knowledge and information on subject matter that could improve employee productivity. Happy employees are said to more efficient and productive at work (Durkalski, 2001). They exude a certain aura that also influences others and therefore produces an environment conducive for accomplishing work efficiently. This happiness may be related to job satisfaction and could affect job performance. For this paper, employees attitudes and perception, specifically organizational commitment would be examined and related to job satisfaction. Since job satisfaction is an abstract concept, the author found it beneficial to measure it through absenteeism and turnover ratio of companies. These two have been found effective indicators of job satisfaction in past studies. According to Saari and Judge (2004) different employees have different attitudes. Different people have varying perspectives on their jobs or careers. Even how one may view his or her organization may be different from

English Essay Example | Topics and Well Written Essays - 1000 words - 28

English - Essay Example The animals come here to quench their thirst; some lapping up the water with their tongues, others taking a deep in the relieving water. Birds from all corners of the forest come to make their nests near her; for there is always plenty food where she passes. The little boys and girls are always lost in wonder at the graceful flow of the river, creating shallow pools in its wake where they spend most of their time splattering around without a care in the world. Their parents nearby are going on with their daily chores of fishing, cleaning, and singing in unison joining nature in its never ending orchestra by the river. It has many sacred places and shrines where elders come to perform rites to their ancestors, where initiates come to be one with nature, to ask for her permission before taking the bold step into adulthood. It is the place where people feel at most with nature and their gods. It is where all life culminates and where it is most vibrant; it is felt in the inner core of the soul of everything there. River Ptoon is a home away from home. In an eerie calm by the river bank a scream shatters the silence another victim falls prey to the unusually calm river. Lurking in the deeper pools of the river there are ravenous predator fishes and alligators ready to snap their jaws at anything that comes near them. The ever present birds always ready to play the role of â€Å"garbage collectors†, nibbling the bones of the dead animals to scorched white, cleaning away the wine; the water stinks of death after the massacres. The stones by the banks are marked by bird droppings like a mad painter’s work of art. Only the tall old trees remain alive with their long deep tap roots reaching the pure water underground, and their shadows casting sinister looking impressions. Parents bring their children to play but pretend to be busy with their chores, but they are hawk eyed for any sign of danger from within or out of the

Investigate the employees attitudes and perceptions in an organisation Essay

Investigate the employees attitudes and perceptions in an organisation to discover how these were related to employees job satisfaction and performance - Essay Example These two have been found effective indicators of job satisfaction in past studies. By using a survey questionnaire, the author would like to measure and understand how perception and employee attitude affect job satisfaction and ultimately job performance. In the past, a massive amount of attention has been given to studies involving job satisfaction and employee-related topics. Since the beginning of the industrial revolution, employees and employers alike have both explored opportunities to improve working conditions and productivity that could lead to higher profitability. The changing times and needs of employers have been subjected to criticism and attention. What employers found motivating years ago may be different from what motivates them today? Their attitudes and perception could also be different from recent years. Such is why companies find it crucial to update knowledge and information on subject matter that could improve employee productivity. Happy employees are said to more efficient and productive at work (Durkalski, 2001). They exude a certain aura that also influences others and therefore produces an environment conducive for accomplishing work efficiently. This happiness may be related to job satisfaction and could affect job performance. For this paper, employees attitudes and perception, specifically organizational commitment would be examined and related to job satisfaction. Since job satisfaction is an abstract concept, the author found it beneficial to measure it through absenteeism and turnover ratio of companies. These two have been found effective indicators of job satisfaction in past studies. According to Saari and Judge (2004) different employees have different attitudes. Different people have varying perspectives on their jobs or careers. Even how one may view his or her organization may be different from

Consider Two Contrasting Characters In The Play Essay Example for Free

Consider Two Contrasting Characters In The Play Essay Consider two contrasting characters in the play. How does the playwright convey their personalities and their attitudes to the situation in which they find themselves? The playwright of The Long, the Short and the Tall is Willis Hall and he wrote it in 1959. The play is set in the Malaysian jungle in 1942 during the Second World War. It is about a British scout patrol, which is caught in the unexpected Japanese advance down the Malaysian peninsula. It deals with men from all over Britain, from different backgrounds and cultures, and their relationships with each other. The main issue though, is whether the men are able to kill another human being. It shows their reactions in tense and almost unreal situations. World War Two lasted from 1939 to 1945. It was fought in two places; in Europe against Germany and in the Pacific against Japan. Britain and the USA started fighting against Japan because Japan bombed Pearl Harbour in December 1941, which had docked a whole fleet of American war ships. The British and the Americans didnt expect the Japanese to attack, so they were not able to defend themselves. From here Japan continued to expand into other countries. They quickly conquered South-East Asia. The next thing the Japanese did was to invade Singapore in Malaysia. Again the British were completely unprepared for the attack. All Singapores defences were facing into the sea, never expecting or believing that anybody would come down the peninsula, through the jungle, but this is exactly what the Japanese did. Because no one in Singapore believed that they would be attacked from the land side, all the defences were on the ocean side, to protect against a marine attack. The Japanese were so successful because they had had better training in jungle warfare. They wore light clothing, had light ammunition and made use of bicycles for transport. This meant that they could travel great distances in a relatively short time. There wasnt much hope for the British soldiers, who had little or no training in jungle warfare, they had heavy clothing and ammunition and no suitable transport. Morale in the British army was very low. Most of the soldiers were conscripts who were very cynical about the ability of the generals of the army to direct the army in the right away and also because of the lack of proper training and equipment. This can be seen in the play in the way the characters talk of the radio not working. Damn duff equipment is how Johnstone describes the radio. To the British conscripts the Japanese army seemed invincible, with their incredibly patriotic soldiers who were prepared to die rather than surrender. The Japanese believed in the motto Death before dishonour. They seemed a completely fearless army because of this, which didnt do the morale of the British soldiers much good. The two contrasting characters I have chosen to look at are Bamforth and Johnstone. I have chosen Bamforth because his character changes a great deal throughout the play and his point of view moves to a different angle and I have chosen Johnstone because his character is one of the few ones, which doesnt change much throughout the play. Private C. Bamforth is a conscript into the British army and has been posted over to the Far East to help fight the Japanese. He is from London and is in the lowest possible rank in the army. His position is completely different from Johnstones. His full title is Corporal E. Johnstone. He is two above Bamforth in ranks and is part of the regular army and is not conscripted. This means that is attitude to the army is different. His attitude is much less cynical and he respects authority more, in terms of Mitchem. He is cynical in one part of the play where he becomes exasperated when the radio wont work. Damn duff equipment. The whole damn issues duff. But overall he is much less cynical of the British armys capabilities. On the other side Bamforth is very cynical of the British army in the way he speaks of it. He apparently quotes one of the Generals, Bammo, my old son, the British armys in a desperate situation. The yellow perils about to descend on us Here he is joking about the state of the British army, but he obviously believes it, otherwise he wouldnt be saying it and it wouldnt be funny. Also he makes clear that he isnt prepared to be a hero, I wasnt meant to be a hero he states it clearly and decisively, which shows that he has no doubts about it. Bamforth enjoys making fun of others especially people who cant defend themselves very well like Whitaker and people who are of a certain area such as Wales or Scotland. He tends to generalise about people of a certain area and call them derogatory names. You Scotch haggis!, you Cardiff creep, Youre an ignorant Welsh Taff! He is a really unpleasant character in the beginning and obviously resents authrority; Nit is what he says under his breath at Johnstone. Johnstone is also unpleasant in the way he threatens Bamforth, but as the person watching the play, with no knowledge of how Bamforths character will change, I found that I sympathised with Johnstone and felt glad that he was giving Bamforth what he deserved. Their initial reaction was also very similar, as it was Johnstone who grabbed the prisoner and ordered one of the other men to kill him with their bayonet and Bamforth was the only other soldier who felt able to kill him. He regarded the Japanese soldier as only as important as an animal. Its only the same as carving up a pig. The prisoner was very low in his opinion Johnstone has very little contact with the prisoner; he only has direct contact with the prisoner when he has the argument with Bamforth over whether the prisoner should be allowed any cigarettes. He obviously has strong opinions on what should happen to the prisoner; he thinks it is a bad decision of Mitchems to take the prisoner back as it is too risky. He tries to argue with Mitchem that they should kill the prisoner right then, before it all got out of hand. Get rid of him. Right now Strangely enough, it is Bamforth who befriends the prisoner and talks to him and joke with him. He even begins to regard the prisoner as almost human. Hes almost human this one is!. His opinion of the prisoner has risen from that of animal to almost human. This is because the prisoner showed him his photos of his family. He indicates that he also has a baby, this is probably why Bamforth begins to regard him with more respect. Next Bamforth offers the prisoner a cigarette, but Johnstone knocks the prisoners from his mouth. At once Bamforth demands an explanation from Johnstone. Here he is clearly defending the prisoners rights, but also I think that he argues with Johnstone just because he did something that infringed his rights. Later on when the argument about the prisoners cigarette case begins, the playwright cleverly makes Bamforth leave so that the argument can progress without anyone coming to the prisoners defence. When Bamforth returns the argument reaches a climax; he immediately comes to the prisoners defence. He defends him verbally and helps the prisoner. He tells the others that he gave the prisoner the cigarettes. This may not have been true and I dont think that Johnstone really believed him. He is the one who asks to look at the case before it is returned to the prisoner and he starts another argument about the case. This time Bamforth does not claim to have given it to him, but turns the story back on Johnstone by making Whitaker tell the others how he has a locker full of Japanese souvenirs. He defends the prisoner all the way. This is sign that he has become really attached to the prisoner. By the end when they have to decide whether to kill the prisoner or not, Bamforth has become very attached to the prisoner. He physically stands in-between the prisoner and Johnstone, as can be seen from the stage directions. This is a clear piece of proof that he is now prepared physically protect the prisoner not just argue for him. Its him and me. This shows that he is saying that if they want to kill the prisoner, they will have to kill him too. Also he now expresses freely that he regard the prisoner highly. Hes a man, showing that the prisoner has earned a lot of Bamforths respect. Johnstone on the other hand is the one who is trying to kill the prisoner. Johnstone still thinks they should kill the prisoner and his opinion of him has not risen either, Its a bloody nip From this we can see that he regards him as really low because he says it instead of he and uses the derogatory term of bloody nip. He orders Bamforth out of the way, but he will not move and appeals to each of the men in turn to help him. But each one turns him down, he appeals to Macleish last of all, probably hoping that at least he was going to help him because his brother could be a POW too. But even he does not help Bamforth. He is obviously desperate because he turns to sheer pettiness when each of the men turn him down. I hope they carve your brother up. Get that? I hope they carve your bloody brother up! In the end the decision is made for them as Whitaker shoots the prisoner as he rises, during the fight between Bamforth and Johnstone. The play offers no obvious answers to who was right or what they should have done. It was quite ironic how it is Johnstone left alive at the end who surrenders because it is was he who was prepared to kill their POW, having said this he did not have much choice in the matter. Personally I really dont know what they should have done because it was such a hard decision, but if I had to make a decision I would probably have tried to take the prisoner back to camp rather than hanging around arguing about it. If they had done that they might have had a chance of getting back alive, but as it was they had no hope. With the benefit of hindsight, I can see that Johnstone was right, when he said that they should kill the prisoner in the beginning, when none of them were attached to the prisoner and there would have been no problem. However I dont think I would be able to kill someone in that situation even if I was ordered to.

Seagate Technologies: Operation Hedging

Seagate Technologies: Operation Hedging The Seagate Technologies as a group assignment in our Production Logistics course. The purpose and aim of this case it to learn the impact of each assets (location) capacity on the overall profitability of the processing network. In addition, investigate how the entire capacity portfolio can be designed to provide an optimal hedge against uncertainty. We have been following six questions: i) what is Seagates corporate strategy? Describe and evaluate how its operational strategy and processes support the corporate strategy. Critically evaluate Seagates product and process development strategy, which calls for development in its respective product / process centre in U.S. and then exporting the developed process to site in the Far-East for high-volume production. ii) What are Seagates major risks? How does it manage those risks? iii) How would you describe the capacity of the processing network if the current CAR capacity proposal were implemented? What is the expected profit and ROI under this investment? (Given the short product life, assume the firm is making its decision for a single time period of length one year, at the end of which manufacturing capacity will zero salvage value). iv) The case states that the true demand forecast contains uncertainty. Given this forecast, recommend a capacity portfolio that maximizes expected NPV. (Recall, capacity investment must be performed before you observe actual market demand). Verify financial attractiveness of your recommendation. What is the expected profit and ROI now? v) Interpret your recommended capacity portfolio in intuitive terms: in what sense does your capacity configuration prepare you to hedging and why is your plan to be preferred? vi) In broad conceptual terms, what are the advantages of sales-plan driven capacity planning? What is wrong with that practice end how would you improve on it? LITERATURE REVIEW Operations Management: In operations management, there are two streams of research originating from two separate, but conceptually similar, definitions of operational hedging. The first definition, as introduced by Huchzermeier (1991) and quoted in Ding and Kouvelis (2001, p.2), states that Operational hedging strategies à ¢Ã¢â€š ¬Ã‚ ¦ can be viewed as real (compound) options that are exercised in response to demand, price and exchange rate contingencies faced by firms in a global supply chain context. Real options might have value-enhancing capabilities under uncertainty. The value-enhancing feature of real options under uncertainty is called exploiting uncertainty. Huchzermeier and Cohen (1996) analyze operational flexibility, which they define as the ability to switch among different global manufacturing strategy options. Cohen and Huchzemeier (1999) illustrate how the deployment of excess capacity can be a source of operational flexibility in global supply chains. They argue that investing in capacity in excess of the aggregate demand forecast provides flexibility in coping with demand uncertainties. Additionally, excess capacity enables the firm to produce more in that location, providing a value-enhancing opportunity in addition to reducing its downside risks. The second definition of operational hedging is found in Van Mieghem (2003). Without referring to real options, but making an analogy with its financial counterpart, financial hedging, Van Mieghem defines operational hedging as mitigating risk by counterbalancing actions in a processing network that do not involve financial instruments. He lists dual-sourcing, component commonality, having the option to run overtime, dynamic substitution, routing, transshipping, or shifting processing among different types of capital, locations or subcontractors, holding safety stocks and purchasing warranty guarantees as operational hedging strategies. One of the main contributions of this definition is the observation that operational hedging can be employed in the absence of tradable risks, particularly exchange rate risk, as all the other academic fields mostly consider operational hedging in an exchange rate framework. Again departing from the literature, Van Mieghem does not consider any particular risk measure to formalize the effect of operational hedging in terms of risk mitigation. In addition, the term counterbalancing actions is not formalized: criteria to determine whether given actions are counterbalancing are not developed, this term corresponds to investing in more than one resource, or betting on two horses that is, investing in operational flexibility, similar to the former definition of operational hedging. Finally, as with real options, counterbalancing actions described by Van Mieghem have a value-enhancing capability and increase expected profit in a risk-neutral setting. This is demonstrated on a two-product, two-stage production system where capacity imbalance is the operational hedging strategy (Harrison and Van Mieghem 1999, Van Mieghem 2003). By purposely unbalancing the capacity vector, i.e. having safety capacity (in excess of the capacity that would be optimal in the deterministic case), firms can hedge against demand uncertainty and increase expected profit. Counterbalancing actions, taken in such a way as to maximize expected profit for a risk-neutral decision maker, are called operational hedges. Finance In the finance literature, operational hedging is the course of action that hedges the firms risk exposure by means of non-financial instruments, particularly through operational activities. Similar to the operations management literature, operational flexibility is the major operational hedging strategy discussed in the finance literature. In addition to operational flexibility, geographical diversification is another operational hedging strategy in a multinational context. Geographical diversification is aligning the costs and revenues of a firm so that they are exposed to the same risks. Domestic firms selling to foreign markets can ensure that their production costs and sales revenues are exposed to the same exchange rate uncertainties by opening a production facility in these markets. Therefore, geographical diversification reduces the total variability of cash flows. Chowdry and Howe (1999) argue that the facility location decision is considered to be an operational hedging strategy only when firms are concerned with the variability of their operating profits. Hommel (2003) argues that operational flexibility is employed as a hedging device when the exchange rate and demand volatility are sufficiently large (in that case the minimum profit constraint is violated); otherwise it serves as a value driver to enhance expected profits. It is emphasized that because operational flexibility can be used for a purely value-enhancement motive, it is considered to be an operational hedging strategy only when there is a risk hedging motive for employing it. Generally speaking, operational actions are considered to be operational hedges if they are taken in order to reduce a risk measure of concern. In particular, if firms care about downside risk (e.g. having a minimum profit constraint), then operational hedges mitigate risk through a reduction in the downside exposure. In summary, the finance literature defines operational hedging as mitigating firms risks by operational means. Operational flexibility achieved through various operational means (ability to shift production, transferring technologies, product differentiation etc.) and geographical diversification is the operational hedges of firms utilized in conjunction with financial hedges. Compared to their financial counterparts, operational hedges require higher levels of capital investment (opening a production facility), but create longer term hedges against risk exposures including risks that are not contingent on asset prices (e.g. demand risks, political risks). Strategy and International Business Diversification is defined as having different lines of business through mergers and joint ventures (Wang and Lim 2003), of which geographical diversification is one type. Kogut (1985) analyzes diversification and operational flexibility as risk management tools of multinationals. He argues that an operational decision (the sourcing policy in this case) can create three different types of risk profile: speculative, hedged and flexible. The speculative profile is betting on one site mainly to benefit from economies of scale in operations. By matching the exchange rate exposure on the cost side with that on the profit side, the firm can create a hedged risk profile. This approach corresponds to the geographical diversification strategy. Finally, a flexible risk profile created through operational flexibility permits the firm to exploit uncertainties by creating real options. In the international business literature, Pantzalis et al. (2001) define operational hedging as the firms operational decisions (related to marketing, production, sourcing, plant location, and treasury) that are best suited to managing the exchange rate exposure on the firms competitive position across markets. In summary, the strategy literature focuses on operational flexibility and diversification as risk management tools without defining them as operational hedges. Operational flexibility achieved through several operational means (developing in-house capacity, product differentiation, keeping excess capacity etc.) creates both arbitrage and leverage opportunities for multinational firms. In addition to aligning costs and revenues, real option benefits of geographical diversification in the form of growth options are discussed. The international business research, similar to the finance literature, focuses on operational flexibility and geographical diversification as long-term operational hedges of multinationals against exchange rate exposures. Analysis of Seagate Technologies: Question 1: What is Seagates corporate strategy? Describe and evaluate how its operational strategy and processes support the corporate strategy. Critically evaluate Seagates product and process development strategy, which calls for development in its respective product / process centre in U.S. and then exporting the developed process to site in the Far-East for high-volume production. Answer: Seagate Technologies Corporate Strategy: The Barracuda The Cheetah are two new Seagates high-end disk-drive products families that are scheduled to go into volume production in the first calendar quarter of 1998. The capital appropriation request called for $ 103 million capital investment in two final assembly facilities, one for the Barracuda and one for the Cheetah and one for joint test facility. The companys establishment and ongoing expansion of production facilities in Singapore, Thailand, Malaysia, China and Ireland are directed toward cost reduction. Describe and evaluate how its operational strategy and processes support the corporate strategy. Operational Strategy and Processes: Manufacturing Strategy: Process Choice Establishment and maintenance of key vendor relationships. Produce and sell its disc drives in significant volume, continue to lower manufacturing costs and carefully monitor inventory levels. Transfer volume production of disc drives and related components between facilities, including transfer overseas to countries where labor costs and other manufacturing costs are significantly lower than in the U.S. Infrastructure The key element if the Seagates manufacturing strategy is high volume, low cost assembly and test; vertical integration in the manufacturing of selected components. Seagate continually evaluates its components and manufacturing processes. Seagate rapidly achieve high manufacturing yields in new production processes and obtain uninterrupted access to high quality components in required volumes at competitive prices. Marketing Strategy: Seagates ability to compete successfully depends on its ability to provide timely product introductions and to combine to reduce production costs. The companys establishment and ongoing expansion of production facilities in Singapore, Thailand, Malaysia, China and Ireland are directed toward such cost reductions. The two new products were planned to be in volume production only for the four quarters of 1998. The capital investment to build production capacity was significant and had two components. First, there were significant fixed costs estimated at about $ 40 million associated with designing, commissioning, and starting up the three new facilities. The second component was that the capital expense of building new capacity increased with the amount of capacity: larger production capacity required larger space requirements and tooling costs, leading to an linear increase in the capital expense. Seagate products include over 50 rigid disc drive models with from factors 2.5 to 5.25 inches and capacities from 1GB 10 23 GB. Seagate believes it offers the broadest range from of disc storage products available. It provides more than one product at some capacity points and differentiates products on a price / performance and form factor basis. Seagate typically devotes its resource to developing products with industries leading performance characteristics and to being among the first to introduce such products to market. The company continuously seeks to enhance its market presence in emerging segments of the rigid disc drive market by drawing on its established capabilities in high volume, low cost productions. The Marathon and Medalist disk drive product lines are targeted for the personal mobile and desktop computing market, respectively, while the high end workstation and server/multi user systems market is served with the Barracuda, Cheetah, and Elite product families. The Barracuda family of 3.5 inch drives was first introduced in 1992. At 7,200 rpm the Barracuda had the highest rotation speed of any drives produced at that time. In fiscal year 1997, Seagate introduced two new products in the Barracuda family, the Barracuda 4LP and the Barracuda 4XL, with 4GB and 4.5GB respectively. The Barracuda 4XL, which began volume production during the fourth quarter of fiscal 1997, was designed to provide a balance of price and performance for the workstation market as it matures. In August 1996, the company announced the 3.5 inch Cheetah family the worlds first drives to offer rotation speeds of 10,000 rpm for increased data throughout and lower latency times. The Cheetah drive is focused at the very high performance segment of the market. Volume production of the Cheetah 4LP and the Cheetah 9 began in the third and fourth quarters of fiscal 1997, respectively. Seagate is going to announce the fifth generation Barracuda 9LP and the second generation Cheetah 0LP in early fall 1997, with volume production schedule to begin in the first calendar quarter of 1998. Finally, the Elite product line covers the high end 5.25 inch market. In the third quarter of fiscal year 1997, production commenced on the Elite 23, a high performance, 5.25 inch disc drive with 23 GB of formatted capacity, a rotation speed of 5,400 rpm and mean time between failures of 500,000 hours. Critically evaluate Seagates product and process development strategy, which calls for development in its respective product / process centre in U.S. and then exporting the developed process to site in the Far-East for high-volume production. Product and Process Development: The content of the Seagate product/ process strategy: Seagate has the superior strategy, i.e. business strategy or corporate strategy, requirements on the product portfolio. It is described in the case the present state of the product portfolio. It is also described in the case what would be the future state of the product portfolio. A plan of action, i.e. how Seagate wanted product portfolio can be reached in practice. The five steps/activities are described below: Requirements on the product portfolio: The most central activity in the process is the identification of the requirements on the product portfolio. The requirements should be found both in the superior strategy, i.e. business strategy or corporate strategy, and also in other functional strategies. Requirements put on the product portfolio consist of among other range, mix and volumes of products. Seagate has number of segments which is introduced in the market. New product proposals: Ideas for new products can arise in different ways; customer, market analysis etc. The new product proposal capture, visualize and preserve the ideas that are found within and outside the company. The aim of the new product proposals is to attain a more distinct product development funnel as shown in Figure 12, where several ideas are evaluated in parallel. Seagates strategy for new products emphasizes developing and introducing on timely and cost effective basis products that offer functionality an d performance equal to or better than competitive product offering. Product development process: The product development process should fit the actual company, its products and its manufacturing. The product development process should also state which design method to use when and why. Seagate devotes significant resources to product engineering aimed at improving manufacturing processes, lowering manufacturing cost and increasing volume production. Seagates process engineering groups are located with the disc drive development groups and the reliability engineering groups in many cities of U.S. and also in Singapore. Product portfolio: When making decisions within the product development process it is important to have the product portfolio in mind and vice versa. Therefore it is emphasized that the same group of managers handles both the product development process and the product portfolio. Reengineering or product deleting: All products have a limited life span. Not unusual at companies aimed at in this research is some kind of facelifts of products during their lifetime. New requirements like new features, manufacturing processes, customer needs etc. on a product or product family require a reengineering or the product will be obsolete. Seagates product life cycles of disc drives are short (high volume products introduced and sold for about 6 to 7 quarters. Due to fast changing in technology in computer industries the product deleting is very short and re-engineering might cost extra money to Seagate due to rapid development. Question 2: What are Seagates major risks? How does it manage those risks? Answer: Competitive differentiation: (e.g., price, quality, time or customization) Market: Fundamental change in supply and demand functions or global prices for commodities. The rigid disc drive industry is intensely competitive, with manufactures competing for a limited number of major customers. In addition to the product performance dimension, the principal competitive factors in the rigid disc drive market include product quality and reliability, form factor, price per unit, price per megabyte, production volume capability and responsiveness to customers. The relative importance of these factors varies with different customers and for different products. Competitors offer new and existing products at prices necessary to gain or retain market share and customers. To remain competitive, Seagate believes it will be necessary to continue to reduce its price and aggressively enhance its product offering. Technological capabilities (lead or follow in technology innovation) With the proliferation of multimedia applications, the demand for increased drive capacities has and continues to increase at an accelerating rate since sound and moving pictures require many times the storage capacity of simple text. Economic: Ability to attract and retain staff in the labour market; exchange rates affect costs of international transactions; effect of global economy. Given the high demand uncertainty of the two product families, the current capital appropriation request moves Seagate towards financial risk in terms of expenditure. Socio-cultural: Demographic change affects demand for services; stakeholder expectations change. Operational: Relating to existing operations both current delivery and building and maintaining. A pessimistic scenario with likelihood estimated at 25%, would demand only 150,000 Cheetahs and 350,000 Barracudas. Mitigating Risk with Financial Hedging: If the counterbalancing actions involve trading financial instruments, including short selling, futures, and options, this is financial hedging. Financial hedging yields an elegant approach to incorporating risk without having to resort to utility functions and price its present value using risk-neutral discounting. The basic idea is to construct a perfect hedge, which is a portfolio that provides a constant future value in any state of nature and therefore can be priced using risk-free discounting. Financial hedging requires writing an unambiguous contract that specifies capacity usages in a form that is divisible, trade able, and enforceable. Mitigating Risk with Operational Hedging: Processing flexibility such as dual or multi-sourcing, using component commonality, having the option to run overtime or to dynamically reroute or shift production (among different types of capital, locations, or subcontractors); holding safety stocks; having warranty guarantees, etc. A variety of these actions can be grouped as counterbalancing capacities to mitigate risk, often by inducing some form of resource pooling. Question 3 How would you describe capacity of processing network if current CAR capacity proposal were implemented? What is the expected profit and ROI under this investment? (Given the short product life, assume the firm is making the decisions for a single time period of length one year, at the end of which manufacturing capacity will have zero salvage value) Answer: Expected Capacity Scenario (Capacity both for Cheetah and Barracuda is 300000) There are 2 different profit and cost structure PS=Profit of solved product C=Cost of unused capacity Contribution Margins Cheetah=$400 Barracuda=$300 Demands Pessimistic (25%) Expected (50%) Optimistic (25%) Cheetah 150 000 300 000 450 000 Barracuda 350 000 300 000 250 000 Demand for Cheetah in Pessimistic Scenario (0.25) Profit= (PS-C)*(0.25) PS= $400*150000 ($30000*(150) +$80000*(150)) =$43.500.000 C= $30000*(150) + $80000(50) (The spare capacity cost is shared in Cheetah and Barracuda) =$8.500.000 Profit= $35.000.000 * 0.25 Demand for Cheetah in Expected Scenario (0.50) Profit= (PS)*(0.50) PS= $400*300000 ($30000*(300) +$80000*(300)) =$87.000.000 Demand for Cheetah in Optimistic Scenario (0.25) Profit= (PS)*(0.25) PS= $400*300000 ($30000*(300) +$80000*(300)) =$87.000.000 Total profit for cheetah = (PS-C)*(0.25) + PS*(0.50) +PS*(0.25) =$35.000.000 * 0.25+$87.000.000 * 0.50+$87.000.000 * 0.25 =$74.000.000 Demand for Barracuda in Optimistic Scenario (0.25) Profit= (PS-C)*(0.25) PS= $300*250000 ($20000*(250) +$80000*(250)) =$50.000.000 C= $30000*(150) =$4.500.000 Profit= $45.500.000 * 0.25 Demand for Barracuda in Expected Scenario (0.50) Profit= (PS)*(0.50) PS= $300*300000 ($20000*(300) +$80000*(300)) =$60.000.000 Demand for Cheetah in Pessimistic Scenario (0.25) Profit= (PS)*(0.25) PS= $300*350000 ($20000*(300) +$80000*(300)) =$60.000.000 Total profit for barracuda = (PS-C)*(0.25) + PS*(0.50) +PS*(0.25) =$45.500.000 * 0.25+$60.000.000 * 0.50+$60.000.000 * 0.25 =$56.375.000 Total Profit for the System= Total profit for cheetah+ Total profit for barracuda -Fixed Cost = $74.000.000+$56.375.000- $40.000.000 = $90.375.000 Question 4: The case states that true demand forecast contains uncertainty. Given this forecast contains recommend a capacity portfolio that maximizes expected NPV. (Recall, capacity investment must be performed before you observe actual market demand).Verify financial attractiveness of your recommendation: What is the expected profit and ROI now? Answer: As mentioned above; we calculated the total profit according to the expected capacity scenario. In uncertainty situations we also calculate total profit pessimistic and optimistic scenarios as well Pessimistic Capacity Scenario (Capacity for Cheetah 150000 and Barracuda is 350000) Demand for Cheetah in Pessimistic Scenario (0.25) Profit= (PS-C)*(0.25) PS= $400*150000 ($30000*(150) +$80000*(150)) =$43.500.000 C= $80000(50) (The spare capacity cost is shared in Cheetah and Barracuda) =$4.000.000 Profit= $47.500.000 * 0.25 Demand for Cheetah in Expected Scenario (0.50) Profit= (PS)*(0.50) PS= $400*150000 ($30000*(150) +$80000*(150)) =$43.500.000 Demand for Cheetah in Optimistic Scenario (0.25) Profit= (PS)*(0.50) PS= $400*150000 ($20000*(150) +$80000*(150)) =$43.500.000 Total profit for cheetah = (PS-C)*(0.25) + PS*(0.50) +PS*(0.25) =$47.500.000 * 0.25+$43.500.000 * 0.50+$43.500.000 * 0.25 =$44.500.000 Demand for Barracuda in Pessimistic Scenario (0.25) Profit= (PS-C)*(0.25) PS= $300*350000 ($20000*(350) +$80000*(350)) =$70.000.000 C= $80000(50) (The spare capacity cost is shared in Cheetah and Barracuda) =$4.000.000 Profit= $66.000.000 * 0.25 Demand for Barracuda in Expected Scenario (0.50) Profit= (PS)*(0.50) PS= $300*300000 ($20000*(300) +$80000*(300)) =$60.000.000 Demand for Barracuda in Optimistic Scenario (0.25) Profit= (PS)*(0.50) PS= $300*300000 ($20000*(300) +$80000*(300)) =$60.000.000 Total profit for barracuda = (PS-C)*(0.25) + PS*(0.50) +PS*(0.25) =$66.000.000 * 0.25+$60.000.000 * 0.50+$60.000.000 * 0.25 =$61.500.000 Total Profit for the System= Total profit for cheetah+ Total profit for barracuda -Fixed Cost = 44.500.000+$61.500.000- $40.000.000 = $66.000.000 Optimistic Capacity Scenario (Capacity for Cheetah 450000 and Barracuda is 250000) Demand for Cheetah in Pessimistic Scenario (0.25) Profit= (PS-C)*(0.25) PS= $400*150000 ($30000*(150) +$80000*(150)) =$43.500.000 C= $30000*(300) + $80000(50) (The spare capacity cost is shared in Cheetah and Barracuda) =$13.000.000 Profit= $30.500.000 * 0.25 Demand for Cheetah in Expected Scenario (0.50) Profit= (PS-C)*(0.50) PS= $400*300000 ($30000*(300) +$80000*(300)) =$87.000.000 C= $30000*(150) (The spare capacity cost 450-300=150) =$4.500.000 Profit= $82.500.000 * 0.50 Demand for Cheetah in Optimistic Scenario (0.25) Profit= (PS)*(0.50) PS= $400*450000 ($30000*(450) +$80000*(450)) =$142.500.000 Total profit for cheetah = (PS-C)*(0.25) + (PS-C)*(0.50) +PS*(0.25) =$30.500.000 * 0.25+$82.500.000 * 0.50+$142.500.000 * 0.25 =$84.500.000 Demand for Barracuda in Pessimistic Scenario (0.25) Profit= (PS-C)*(0.25) PS= $300*250000 ($20000*(250) +$80000*(250)) =$50.000.000 C= $80000(50) (The spare capacity cost is shared in Cheetah and Barracuda) =$4.000.000 Profit= $46.000.000 * 0.25 Demand for Barracuda in Expected Scenario (0.50) Profit= (PS)*(0.50) PS= $300*250000 ($20000*(250) +$80000*(250)) =$50.000.000 Demand for Barracuda in Optimistic Scenario (0.25) Profit= (PS)*(0.50) PS= $300*250000 ($20000*(250) +$80000*(250)) =$50.000.000 Total profit for barracuda = (PS-C)*(0.25) + PS*(0.50) +PS*(0.25) =$46.000.000 * 0.25+$50.000.000 * 0.50+$50.000.000 * 0.25 =$49.000.000 Total Profit For The System= Total profit for cheetah+ Total profit for barracuda -Fixed Cost = 84.500.000+$49.000.000- $40.000.000 = $93.500.000 Therefore according to the capacity scenarios profits are formed; Total Profit for Cheetah Total Profit for Barracuda Pessimistic Capacity Scenario $44.500.000 $61.500.000 Expected Capacity Scenario $74.000.000 $56.375.000 Optimistic Capacity Scenario $84.500.000 $49.000.000 Question 5: Interpret your recommended capacity portfolio in intuitive terms: in what sense does your capacity configuration prepare you to hedging and why is your plan to be preferred? Answer: Newsvendor: The newsvendor (or newsboy) model is a mathematical model in operations management and applied economics used to determine optimal inventory levels. It is (typically) characterized by fixed prices and uncertain demand. If the inventory level is q, each unit of demand above q is lost. This model is also known as the Newsvendor Problem or Newsboy Problem. In the case of Seagate Technologies, let K1 is the capacity for The Cheetah and K2 is the capacity for The Barracuda, K3 is the capacity of for The Final Test and D is the demand for each product family. The sales plan is 300 thousand units of The Barracuda and an equal amount of The Cheetah i.e. the sales plan corresponds to a demand vector (in thousands) D = (300, 300). The associated capacity investment vector for the three resources that makes this sales plan feasible is Kb = (300, 300, 600). The capacity portfolio Kb is balanced in the sense that all three resources are fully utilized at the sales plan. Capacity balance means that K1 + K2 = K3. Another capacity plan that may show up in practice is a plan that minimizes lost sales. In some settings, marketing managers may state that a customer lost once is lost forever and advocate ample capacity to prevent that. We refer to such plan as a total coverage capacity plan Kc. Obviously, a centralized, expected profit maximizing planner with knowledge of the probabilistic demand forecast can do better. Maximization of expected profit leads to increasing the investment in resources with high marginal return compared to marginal investment costs. This generalized typical newsvendor logic works in a coupled, multi-dimensional setting and show the risk-neutral or newsvendor network solution in Seagate case to be K* = (350, 35