Steroids in Sports Essay Example | Topics and Well Written Essays - 2250 words

Steroids in Sports - Essay Example An athlete’s career is fairly short compared with other careers and needs to be maximised. This may seem like sound reasoning for allowing performance enhancing drugs until one takes a look at the some of the health problems associated with the prolonged abuse of performance enhancing drugs. It has been associated with both long term and short term damage to athletes and has even been implicated in the deaths of some athletes. In addition, the use of performance enhancing drugs offers an unfair advantage to the athletes who choose take them in their quest for glory and money and completely goes against the unwritten values of sport which include honesty and integrity. When the view of athletes of athletes is taken into consideration regarding the use of performance-enhancing drugs, it appears that over half of them seemed convinced that would actually contemplate the use of such drugs while the others firmly opposed it. This paper will attempt to critically take a look at the reasoning behind the argument that performance enhancing drugs should be legalised and then present the counter arguments for it. I will argue that despite the reasoning provided for it, the (ab)use of performance enhancing drugs in any sport is dishonest and detrimental to the health of the athlete who chooses to use it. The use of performance enhancing drugs in the world of sports has been present probably since the start of sports competition (Campos et al, 2003). Two major events in recent history that shocked the world of sport was Ben Johnson admitting to the use of performance enhancing drugs in 1988 (Catlin et al, 2008) and the scandal surrounding the Tour de France in 1998 with allegations of doping (Schneider, 2004). While most people would agree that the use of performance enhancing drugs should be banned it is worth taking a look at the other side of the argument stating that these drugs should be legalised too. One of the main reasons given by bodies like the Sports Cou ncil in Britain or the World Anti-Doping Agency (WADA) have been the health risks associated with performance enhancing drugs (Hanstad and Waddington, 2009). It has been argued that if this concern for the health of elite athletes is really the reason for the ban of performance enhancing drugs, then concern must be had for other aspects of sport that affect health like sports-related injuries. There have been no sports bodies that have passed rules on whether an athlete can perform whilst injured though the risk of injury is quite high for many sports (O’Leary, 2001 from Hanstad and Waddington, 2009). Athletes who take part in sports, especially contact sports, effectively work in an extremely hazardous environment. There is a high risk of sports-related injuries or the development of chronic conditions later in life as a result of the sport (Hanstad and Waddington, 2009). One study actually concluded that the risk of injury if a thousand times higher in athletes playing prof essional football than in jobs such as construction or mining (Hawkins and Fuller, 1998 from Hanstad and Waddington, 2009). Similarly, when considering a sport like American football, the average length of the career of a player is a meagre 3.2 years

The Princess Bride Essay Example for Free

The Princess Bride Essay The movie, The Princess Bride, was depicted as a fairy tale that showcased romance, camaraderie, and adventure (Maltin). In some way, it also illustrated particular comedy scenes that were really enjoyed by the viewers. The movie started with the scene wherein the grandfather, played by Peter Falk, was narrating a story to his grandson, portrayed by Fred Savage. Throughout that scene, the former had really tried his best to get the interest of his grandson probably by making every chapter of the novel sound so grand. At first the grandson was kind of bored especially on the parts wherein the romantic scenes were being described by his grandfather (Berardinelli). The child had even declared that it would be more exciting and enjoying if he would rather played with video games than listen to what his grandfather was recounting to him. But when the child finally heard about giants, monsters, fighting, and other extraordinary events, the child had begun to pay more attention to the story.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   As the grandfather continued the story, the child had known about the love story of a peasant and princess, Westley and Princess Buttercup, played by Cary Elwes and Robin Wright respectively. The actors became very effective in portraying the roles of the protagonists of the story. It was like a damsel princess waiting for his knight in shining armor to save her and eventually became her lover or husband. While the main characters struggled to win their love story, other characters that either portrayed as villains or supports were also outstanding with regards to their acting performance (Maltin). One of the most notable and humorous scenes was when Inigo Montoya, played by Mandy Patinkin, and his comrades kidnapped the princess. And so the battle and fighting scenes were done.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Exhibiting so much action/adventure/fantasy with a very excellent inclusion of punch-lines and anecdotes, the viewers had really laughed to death, fell in love with the characters, got so annoyed with the villains, and a lot more (Johanson). But the end point was that the audience had really a great time watching the movie. The director had really done a great job. The cinematography was almost perfect with nice scenes, actors, sceneries as well as the background music. In addition, the movie was filled with unforgettable and brilliant lines and quotations. While some were the kinds of line which would truly move the viewer’s heart, or would create a big bang that would definitely made the viewer ponder on what the characters had said, some lines were also full of humor just like the line of Inigo, â€Å"My name is Inigo Montoya; you killed my father; prepare to die (Valentine).† Such were really archetypal.   All in all, the movie was outstanding that every viewer and critic of the movie would surely be astonished by the comical nature, fantasy-like plot, and action-romantic genre of the movie. Absolutely, The Princess Bride was sure to heighten every viewer’s sense of intrepidness and connect every watcher on equally comedic and dramatic level. It was merriment of affection, folk tales, and movie itself (Valentine). Also, with Reiner at the back of the wheel, the very old story contained by a story structure created marvels and surprises; during the movie’s supernatural magnificence, the viewer stayed alert that the heart of the film was really towards the relationship between the boy and his grandfather. Works Cited Berardinelli, James. â€Å"The Princess Bride.† 22 January 2008  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   http://www.reelviews.net/movies/p/princess_bride.html. Goldman, William. The Princess Bride: S. Morgensterns Classic Tale of True Love and High  Ã‚   Adventure. Harcourt, 2007. Johanson, Mary Ann. The Totally Geeky Guide to The Princess Bride. Lulu.com, 2000. Maltin, Leonard. Leonard Maltins 2008 Movie Guide. Signet, 2007. Valentine, Brandon. â€Å"Movie Review: The Princess Bride.†. 12 January 2007. Blogcritics. 22  Ã‚  Ã‚  Ã‚   January 2008 http://blogcritics.org/archives/2007/01/12/234247.php.

What is Feminism? Essay -- Carol Gilligan Feminism Gender Essays Paper

What is Feminism? What is feminism? By general definition, feminism is a philosophy in which women and their contributions are valued. It is based on social, political and economical equality for women. Feminists can be anyone in the population, men, women, girl or boys. Feminism can also be described as a movement. A revolution that includes women and men who wish the world to be equal without boundaries. These boundaries or blockades are better known as discrimination and biases against gender, sexual orientation, age, marital status and economic status. Everyone views the world with his or her own sense of gender and equality. Feminists view the world as being unequal. They wish to see the gender gap and the idea that men are superior to women decreased or even abolished. Carol Gilligan is one woman who has contributed much time and effort to the feminist theory. Her beliefs and ideas are based upon difference feminism. In this essay I will tie the ideas and beliefs of Carol Gilligan with information from our text, the packet read in class and the book, Faces of Feminism.   Ã‚  Ã‚  Ã‚  Ã‚  Carol Gilligan is a lecturer and assistant professor at Harvard University as well as a psychologist. She has many theories that deal with moral reasoning and development. In her influential book In a Different Voice, she sets forth the idea that women make decisions â€Å"according to a criteria of ethics of care and that men make decisions according to an ethic of rights.†(3) In ... What is Feminism? Essay -- Carol Gilligan Feminism Gender Essays Paper What is Feminism? What is feminism? By general definition, feminism is a philosophy in which women and their contributions are valued. It is based on social, political and economical equality for women. Feminists can be anyone in the population, men, women, girl or boys. Feminism can also be described as a movement. A revolution that includes women and men who wish the world to be equal without boundaries. These boundaries or blockades are better known as discrimination and biases against gender, sexual orientation, age, marital status and economic status. Everyone views the world with his or her own sense of gender and equality. Feminists view the world as being unequal. They wish to see the gender gap and the idea that men are superior to women decreased or even abolished. Carol Gilligan is one woman who has contributed much time and effort to the feminist theory. Her beliefs and ideas are based upon difference feminism. In this essay I will tie the ideas and beliefs of Carol Gilligan with information from our text, the packet read in class and the book, Faces of Feminism.   Ã‚  Ã‚  Ã‚  Ã‚  Carol Gilligan is a lecturer and assistant professor at Harvard University as well as a psychologist. She has many theories that deal with moral reasoning and development. In her influential book In a Different Voice, she sets forth the idea that women make decisions â€Å"according to a criteria of ethics of care and that men make decisions according to an ethic of rights.†(3) In ...

Pros and Cons of Inclusive Education Essay

In inclusive education programs all students in a school are subjected to study together and become part of the school community regardless they are disabled or normal (Schwartz, Odom, & Sandall, 2010). They all attend the same school and have the feeling of belonging in the school. Students, teachers and co-ordinate staff have a role to instruct all students regardless to their disability in general education. From educational viewpoint, inclusion involves practices where students with special needs in terms of education spend much of their time with normal student in the learning process. It is believed that inclusive education poses more merits than its negatives effects to educational systems since it provides a better opportunity for all students to participate in all activities in their everyday learning process. Inclusive education has been a platform for the disabled students to create a unique and better relationship with other normal students in school communities. Additionally, inclusive education serves as a fundamental right to all disabled students since they are part of the society and thus they should not be ignored (Schwartz, Odom, & Sandall, 2010). While there are a number of controversies in the subject of inclusive education, a clear understanding is required about inclusive education so as to reap maximally from the benefits it presents. Advantages of Inclusive Education The current research seems to support inclusive education and co-teaching as means of improving both special and general education in the schools (Block, n. d). Mainstreaming which is typical to inclusive education has been observed to improve students’ social skills by fostering interaction between the disabled students with other normal students in the same or neighboring schools (Block, n. d). This has developed communication and interaction skills among the normal and disabled students thus making them to be competent in the society. In particular, the increased interaction among students in inclusive education develops them to relate well with other members of the society. Social dimension is measured in terms of behavior and character of an individual in connection with the capacity to exercise them. Communication forms the basis of character and behavior of individuals. Therefore, inclusive education builds individuals who perfectly fit into the society (Block, n. d). Higher self-esteem among disabled students has also been achieved in the process of mainstreaming typical in inclusive educational system (PBSparents, 2010). Students gain more confidence and self efficiency in inclusive education hence they command a higher self-esteem. Not only do students in inclusive education gain higher states of confidence, they also gain systematic ways to approach common aspects in life. Research conducted in California on disabled students showed that 96 percent of disabled students felt confident when mixed with other students during learning process (PBSparents, 2010). However, 3 percent of these students felt excluded while a lesser percentage of 1 percent felt low even when mixed with other normal students (PBSparents, 2010). This research shows that inclusive education builds high esteem among the disabled students and hence should be encouraged (PBSparents, 2010). Enhanced academic achievements among the disabled students form another great advantage of inclusive education. Through the integration of normal students and the disabled, there is a potential realization of academic achievements among the disabled students who are a minor group in the society (PBSparents, 2010). The relationship between the teachers and students is much coherent in inclusive education and thus creates smooth means for academic achievements among this minor group. Most teachers take keen interest to the disabled students in order to put them in the same level with the rest of other in the class. Students gain both academic knowledge and applied abilities that are critical in their lives. As a result of inclusive education, there have been increasing numbers of disabled graduates in the US and elsewhere in the world (PBSparents, 2010). In inclusive education, there is an enhanced parents’ participation in the provision of education to the students (PBSparents, 2010). This enhanced participation ensures that students are provided with better education hence better academic achievements on the part of students. This is achieved through moral and material support that parents invest in the students which lead to improvement in education quality in inclusive education. The learning objectives are well met in inclusive education as parents commit their efforts in the betterment of education (PBSparents, 2010). As a result, there is an improved relationship in inclusive education compared to exclusive education system where parents rely entirely on teachers and the school management on education responsibilities for their children (PBSparents, 2010). Normal students in inclusive education learn to appreciate other disabled students hence fostering better relationships not only in the school community but also at their homes and the society at large (Ratta, 2009). Inclusive education brings out the meaning of the theoretical knowledge taught in schools into practice. The majority of the learners in other education systems that do not mix normal students with disabled students leave schools with limited knowledge thus making it hard for them to cope up with life (Inclusive Schools Network, 2010). It is believed that when the normal students learn in the same environment with the disabled students, much understanding and tolerance is cultivated . the normal students learn to accept others in their capacity regardless to their health (Ratta, 2009). Positive aspects achieved from inclusive education contribute much to contact theory which asserts that meaningful, frequent and pleasant communication between and among people results to a better and changed attitude towards differences. As result much is felt in the society of different individuals. On the same note, inclusive education prepares the disabled students to plan on their future (PBSparents, 2010). The lessons they achieve in inclusive educational programs while in schools are crucial in preparing them for future career and general tactics of survival. In inclusive institutions of learning, teachers impart knowledge to learners. This knowledge usually consists of theory as well as practical skills. This ways, students become more flexible in life and have some ways to survive. Life is much of what one knows and gets experienced to do (PBSparents, 2010). Therefore, there is always an increasing need for inclusive education that combines both the disabled and non-disabled students. More so, inclusive education helps disabled student to develop a sense of pride in their learning due to accomplishing their duties in the process of learning. For instance, under normal class environment with various students (normal and disabled), given an assignment to do will increase the pride of disabled learners if accomplished in time and accurately (PBSparents, 2010). This is clear indication that learning inclusively improves the ability of the students in general. Demerits of Inclusive Education Not only does inclusive education provide the best to both normal and disabled students but also constitutes of a number of disadvantages (Schwartz, Billingsley & McBride, 2010). One of the most debated disadvantages of inclusive education is financial hardships. In order for the school to provide for special education system and services, much financial resources are needed to properly finance the system. The cost per student under special education is much higher compared to normal student thus giving a challenge to most schools. The more special students a school has, the more expenditure needed to run the school (Schwartz, Billingsley & McBride, 2010). This has caused more problems in inclusive education system. Parents and guardians have often expressed fears that in inclusive education system, teachers do not have the required skills to teach and accommodate the disabled learners (Schwartz, Billingsley & McBride, 2010). However, supportive and training institutions usually train the teachers on both normal and special needs of students so as to address problems in case they arise. But if the teacher ignores the students of this nature it may result to regression of the learner thus the overall productivity is decreased in terms of academics. More so, the learners them selves may cause harm to the fellow students thus making classroom environment uncomfortable for learning process (Schwartz, Billingsley & McBride, 2010). One serious and potential disadvantages of inclusive education is that of the amount of time and the kind of attention drawn by the teachers to students with special needs (Kidstogether. org, 2010). Significant observations have shown that there is an increased attention to students with special needs which may take away the attention of the teachers from the rest of the class. This trend can eventually lead to a decreased concentration on the part of normal students hence less achievement academically (Kidstogether. org, 2010). In another observation, due to frequent disturbances in inclusive education, there may be a fall in academic performance (Schwartz, Billingsley & McBride, 2010). In most cases, it’s believed that learners with disabilities can cause unnecessary locomotion in learning environment making it tireless exercise. Teachers may lack positive and dynamic response to the students due to lack of special skills to handle such learners in classroom environment. This is much contributed by personal view towards the disabled people. Lack of official liaison required by the teacher can also interrupt the usual understanding of the learner in this perspective (Schwartz, Billingsley & McBride, 2010). Improper articulation between the co-teachers also contributes to students in taking, no matter their abnormality. Another major issue is social discrimination among the teachers and students. This will cause serious problems not only in the school environment but also in the community level. Regular education students may so much empowered to do anything to disabled individuals this resulting to inferiority complex among the students. This can be avoided by having a joint socialization in the school which may extend further to the outside communities (Schwartz, Billingsley & McBride, 2010). Studies have shown that students with special needs may require more time to grasp concepts (Kidstogether. org, 2010). Time spent in reviewing concepts may not be enough for students with special needs who learn at a slower pace. Normal students who need to move at a fast pace may end up getting bored and if this weakness is not checked, it will dangerously lead to poor academic performance among normal students in inclusive education. This is because inclusive education system overlooks the needs and requirements of the both normal and disabled students (Schwartz, Billingsley & McBride, 2010). The rise in implementations and modifications usually articulated in regular education systems that practice inclusion has caused disconnection between teaching and the learning process (National Center for Education Statistics, 2010). This has mainly affected special need students in these systems which practice inclusion. When rules are further implemented, it becomes hard for disabled students to adhere to and incase no adjustments are made, this can ultimately affect the standards of learning among the special need students. The results may be dwarfism in education either in terms of skills or knowledge or both (National Center for Education Statistics, 2010). Most researchers have given out different views concerning the idea on inclusive education system where other have observed that the system is so much demanding to school administration and the community at large (National Center for Education Statistics, 2010). Other researchers have observed an increase in school closure in the systems that embrace inclusion. This presents as one of the challenges of inclusive education system which has lately been perceived to be difficult to manage and run making many schools to shut down and students’ school dropouts (Delma, Selina & Dorothy, 2009). A significant amount of resources is dedicated to field work and mainstreaming where normal students benefit more compared to rest of the disabled students. This presents a serious inequality in per student spending where resources are spent for functions that do not benefit the students with special needs (Kitmitto & Bandeira, 2008). However, this point has been argued by a number of observers who note that special needs students also require facilities and equipments not required by normal students. This observation seems to cancel out the point that more funds are spent on normal students. This controversy has resulted to the formation of ripples in a legal system of education (Kitmitto & Bandeira, 2008). More serious problem is when some groups believes that some students are not worth to be put in regular classroom to study thus resulting to streaming in school communities. Conclusion In conclusion, inclusive education system is slowly becoming forgotten in most schools despite its importance among both normal and disabled students. It has many several benefits as opposed to other educational system which do not combine disabled students with the normal ones. It should be identified that the ability of the disabled students to socialize with their fellow students to a large extent build their confidence as the student feel to be part of the school community. Attempts to prevent the students to access inclusive education prevent the students from a number of benefits that would otherwise mold them to become successful leaders. Therefore, parents, teacher and all school stakeholders need to adjust in order to accommodate both disabled and normal students in the same learning environment bearing in mind that they are all part of the community. References: Block, M. E (n. d). Rationale for and benefits of inclusion. Retrieved July 25, 2010 from, http://www. palaestra. com/Inclusion2. html Delma, B. , Selina, M & Dorothy, W (2009). School leavers’ survey report 2007. Retrieved July 25, 2010 from, http://www. esri. ie/publications/search_for_a_publication/search_results/view/inde x. xml? id=2720 Inclusive Schools Network (2010). Characteristics of inclusive schools. Retrieved July 24, 2010 from http://www. inclusiveschools. org/characteristics_inclusive_schools Kidstogether. Org (2010). Benefits of inclusive education. Retrieved July 24, 2010 from http://www. kidstogether. org/inclusion/benefitsofinclusion. htm Kitmitto, S & Bandeira, S (2008). Measuring the status and change of NAEP State f inclusion rates for students with disabilities. Retrieved July 25, 2010 from, http://nces. ed. gov/nationsreportcard/pdf/studies/2009453_1. pdf National Center for Education Statistics (2010). Inclusion of special-needs students. Retrieved July 25, 2010 from, http://nces. ed. gov/nationsreportcard/about/inclusion. asp PBSparents (2010). Inclusive communities: the benefits of inclusive education. Retrieved July 24, 2010 from http://www. pbs. org/parents/inclusivecommunities/inclusive_education2. html Ratta, T. M (2009). Benefits of inclusive education. Retrieved July 24, 2010 from http://www. merinews. com/article/benefits-of-inclusive-education/150756. shtml Schwartz, I. S. , Billingsley, F. F & McBride, B. M (2010). Including children with autism in inclusive preschools: strategies that work. Retrieved July 25, 2010 from, http://www. newhorizons. org/spneeds/inclusion/information/schwartz2. htm Schwartz, I. S. , Odom, S. L. , & Sandall, S. R (2010). Including young children with special needs. Retrieved July 25, 2010 from, http://www. newhorizons. org/spneeds/inclusion/information/schwartz3. htm

The Way the U.S.A Prepares

The government's role is mostly to hand out the cash for the people of the states to repair and and to prepare.The cash is raised by the senate when needed.State use the cash to prepare by funding shelter,hospitales,and other places to be ready for the disaster they are expecting.such as when they prepare for a hurricane they would use the money to prepare storm shelters and stock food for after the hurricane. There was also the preparation of people .Such as hurricane michel there were many active members of the u.s military that participated it search and rescue.Other nations prepare in similar was such as funding local place with disaster relief and readiness,but is different in what they prepare for some disasters are not as common here as somewhere else . The government is not alway helpful in these matters since the president has the power to allow or deny request for money.it is not uncommon for a president to deny the request as well.They could change this by giving the support that the state need at the time so they can help the people faster.The federal government is well prepared for the hurricane coming,and florida is preparing as well getting preparations ready. After the hurricane passes relfe services will be put into action such as giving food to those that need it and other necessities.A similar case is puerto rico and how they are still recovering from a disaster they recently went though.they are looking to find housing for those that lost it and giving help to relief efforts,but the country can not handle such a task so it has sought the help of the u.s federal government.in the u.s we have services such as FEMA and the USDA to help citizens when disaster strikes. Not only those but each branch helps in there own way.executive can give the states the money they need,while the judicial branch restores order.lastly the legislative decides the policies on how they go about handling the situation and raises the money for the states.Policies such as the disaster relief bill the senate passed to help the victims of hurricane harvey.

Winter Break Ideas to Help You Paint the Town Red

Winter Break Ideas to Help You Paint the Town Red Winter Break Ideas that Rock Thinking about things to do on winter break? We all have been busy with family gatherings, holiday shopping, and preparations for Christmas and New Year celebrations since winter vacation has started. Now it is high time to have a rest and catch up on sleep or devote evenings to watching TV series. After reconsideration, you do not want to spend the whole winter break lounging in your PJs, do you? So, what to do on winter break to make it memorable? Here are 10 winter break activities to enjoy. 10 Amazing Activities to Try During Winter Break Invite a friend Make your holidays memorable by calling a high school or college friend whom you have not seen for ages. Meet up and spend some time reminiscing about good old days is one of the best ideas ever to have come to my mind. Organize a holiday movie marathon How to spend winter break and have a great time without leaving home? Ask your friends to come by and bring some snacks. Then, organize a marathon consisting of Christmas comedies and classic holiday movies. For example, my movie night always includes 'A Charlie Brown Christmas' and 'Home Alone'. Take a class It may not be in your list of the best ideas for winter holidays, but you should definitely try out your creative skills. Decorating and painting classes are fun winter activities that will make your holidays more enjoyable. Earn extra money Being broke during holidays is not much fun. You could try some part-time jobs during winter break and engage in activities that bring profit. For example, once I tried babysitting (to learn it's definitely not my thing), and last year I arranged holiday sale of unnecessary stuff. Spend a day in spa with your mom It is certainly not a winter fun for cheap, but it will be a good holiday present for your leading lady. Or gentleman. Make your favorite person happy and enjoy the time spent together. Become a volunteer Local charities always seek for assistance during the holiday season. Contribute to your community by helping the needy and enjoy this new experience to the most. Learn to cook It is your opportunity to use your parents fridge stuffed with a variety of products bought for holidays and cook your own tasty dish. There are tons of easy recipes on the Internet but I love experimenting with Jamie Oliver. Go to the gym Holiday meals may result in some extra pounds. Do not let this happen! Go to the gym and burn the extra calories accumulated during winter break. Since coach potatoes are not a trend today, try to stay active on daily basis so that it becomes a good healthy habit. Plan for summer If you want to intern on summer or find your first job, winter break is a perfect time to start planning. For example, you might want to devote some time to polishing your resume and looking for available vacancies during winter holidays. Remodel your room Why not make some changes and upgrade your room? Paint the walls different colors, buy new curtains, or rearrange furniture. Last year I decorated all windows with hand-made snowflakes and Christmas lights and moved around some furniture. My friends loved it and some of them even did the same. As for me, winter break is the time when we all seek for new emotions. Try the activities from the list, and you will have many experiences to share when you go back to college.

Earth First vs. Headwaters essays

Earth First vs. Headwaters essays Earth First! is characterized as a radical environmental group by its enemies and as a necessary and militant group seeking to protect the environment from illegal use and predatory actions by big business by its supporters. The group has raised objections to one project in particular, the Headwaters project in Humboldt County in Northern California, bringing it into conflict not only with the Maxxam Corporation that is pushing this project and with various employees or potential employees of that company but also with the FBI, lading to several court cases either directed at Earth First! or undertaken by Earth First! in order to challenge the actions of Maxxam. A number of legal issues are raised in these court actions by both sides in the dispute. Headwaters Forest was acquired by Maxxam Corporation in 1986 in a leveraged buyout. Maxxam Corporation is headed by Texas financier Charles Hurwitz, and he greatly increased logging of ancient redwoods to reduce his takeover debt, which started a ten-year battle with Earth First! over what would happen to the forest. The forest in question includes six ancient groves of old-growth coastal redwoods covering approximately 6,000 acres. Also included is another 12,000 acres of old-growth trees. These have been selectively logged but are surrounded by a mixture of young forest, stream zones, and cut-over lands targeted by environmentalists for restoration. Groups like Earth First! became interested because there are good reasons The old-growth redwoods of Headwaters provide critical habitat for the endangered marbled murrelet, coho salmon, and other species. Only 150 years ago the redwood forests of Oregon and California covered two million acres; now less than four percent remain. The Clinton administration and the State of California have agreed to purchase two of ...

Definition of Conditional Tense

Definition of Conditional Tense Definition The verb tense that is used to indicate that an action or state of being is dependent on the occurrence of a condition. Also Known As This tense in Spanish is also known as the futuro hipotà ©tico, tiempo potencial or tiempo condicional in Spanish. Explanation In the sentence Si lo encuentro, serà ­a un milagro (If I find it, it would be a miracle), the first part of the sentence (Si lo encuentro or If I find it) is the condition. Serà ­a and would be are in the conditional tense because whether they refer to an actual occurrence depends on whether the condition is true. In both English and Spanish, the condition does not need to be explicitly stated. In the sentence Yo lo comerà ­a (I would eat it), the condition is not stated but is implied by the context. For example, the condition might be something like Si lo veo (If I see it) or Si lo cocinas (If you cook it). In English, the conditional tense is formed using the auxiliary verb would before the base verb, although would also has other uses. In Spanish, the conditional tense for regular verbs is formed by adding the following endings (in boldface) to the infinitive: yo comerà ­a (I would eat)tà º comerà ­as (you singular would eat)à ©l/ella comerà ­a (he/she/it would eat)nosotros/nosotras comerà ­amos (we would eat)vosotros/vosotras comerà ­ais (you plural would eat)ellos/ellas comerà ­an (they would eat) In Spanish, the conditional tense has historical ties to the future tense and is often known as the hypothetical future tense. The ties between the two tenses can be seen in their formation from the infinitive rather than the verb stem. Also, if the future tense of a verb is formed irregularly, the conditional is usually irregular in the same way. For example, I would want is querrà ­a in the conditional and querrà © in the future. The conditional perfect tense is formed by using the conditional of haber with a past participle. This compound tense is shown in the final two examples below. Examples of the Conditional Tense These sentences show how the conditional tense is used: Serà ­a una sorpresa. (It would be a surprise.)Si pudieras jugar,  ¿estarà ­as feliz? (If you were able to play, would you be happy?)Si fuera posible, me gustarà ­a verte. (If it were possible, Id like to see you.Llegamos a pensar que nunca volverà ­amos a grabar una nueva cancià ³n. (We concluded that we would never again record a new song. Note that the English translation here isnt a literal one.)Creo que te habrà ­an escuchado. (I believe they would have listened to you.)Si no te hubiera conocido, mi vida habrà ­a sido diferente. (If I had not met you, my life would have been different.)

Discussing the concept of the Ecological Footprint, as well as your Essay

Discussing the concept of the Ecological Footprint, as well as your score. Be sure to address whether or not you think it accurately affects your impact on the environment - Essay Example As per my score, if the whole world starts to imitate my lifestyle, it would require 4.52 earths to sustain it. This realization was indeed an eye opener. Most of us tend to lead consumption oriented lifestyles, being totally oblivious of the impact it may have on the environment. If the humanity continues to pursue such ecologically irresponsible lifestyles, it will have debilitating consequences for the generations to come (Low 156). The questions posed in the quiz were based on my day to day consumption patterns like energy consumption and dietary preferences. Thus it was easier for me to relate to the quiz. I certainly plan to introduce at least some small and simple changes in my lifestyle like recycling my garbage and waste, turning off the lights when not in room, purchasing energy efficient gadgets, using more of public transport,

International Human Resource Management Essay Example | Topics and Well Written Essays - 1750 words - 2

International Human Resource Management - Essay Example According to Greg J Bamber, R. D (2004) he provides that this knowledge facilitates the functioning of key major organizational learning tools (Bamber 2004). Therefore, from this it can be argued that firms that successfully make use of tacit skills and knowledge can develop organizational learning strategy that ensures that knowledge and skills among the employees is spread through the organization. This improves the overall performance needed for firm’s improvement because more experienced workers can share their knowledge and skills with new employees. Therefore Multinational companies incorporate in their workplace systems, structures and processes. This is aimed for the achievement of multinational flexibility, global efficiency and worldwide learning (Bamber 2004). Japanese firms in the recent years have become of the most performing firms in the world enabling the Japanese economy become third largest economy and second largest developed in the world respectively. It is notable that these firms have realized these achievements attributed to their unique model of organizational learning that is largely adopted in Japan. According to Benson, J. and Debroux, P, (2004) the concept of organizational learning is one of the key major focuses in the Japanese organizational model (Debroux 2004). This focus and emphasis has enabled these firms to effectively make use of the tacit skills and knowledge of employees for their organizational learning purposes compared to other firms in other economies. Tacit knowledge is basically the gained knowledge by employees in organizations through the relevant experience and education that they explicitly not aware of. Tacit knowledge plays a significant role in the overall performance of the firm enhanced by an ap propriate organizational learning model. Japanese firms through its organizational models majorly in the human resource have

Patient, Who is Dying of Leukemia Essay Example | Topics and Well Written Essays - 1250 words - 15

Patient, Who is Dying of Leukemia - Essay Example This case relates to the ethics, which refers to application of values and moral rules to human activities. In order to determine whether the nurse was acting morally, there is a need to focus on the subsection of ethics, which are a part of applied ethics and the use of ethical principles in making a decision. In this case, ethics can be applied in seeking reasoned, consistent and defensible solutions to moral issues; thus, the Clinical bioethical reasoning is the primary base of the case. Moreover, the clinical practice depends of the general rules and case-based experiences, bioethical reasoning that relies on learned and accepted moral rules. Therefore, bioethical decisions are derived from manifestation and recognition of factors in a certain situation, which differentiates the cases. In the case, nurse L decided to share the information with the patient concerning the alternative therapies, but this was against the bioethical rules in the hospital. Therefore, nurse L was not mo rally correct because she fail to apply the Clinical bioethical reasoning by focusing on the rules as she made the decision of disclosing to the patient about alternative therapies. In this situation, nurse L was not obligated to make patient-centered, value-driven ethical decision; instead, she should have focused on the bioethical reasoning in relation to the morally accepted rules in the hospital. There are laws stems from legislative statues, administrative agency rules and court decisions, which varies in various ways and they are enforced by different jurisdiction.  

Outline and discuss the Capital Asset Pricing Model (CAPM) as means of Essay - 2

Outline and discuss the Capital Asset Pricing Model (CAPM) as means of valuing securities and their risk. What are the drawbacks - Essay Example The CAPM focuses on a single holding period and assumes the investors can borrow or lend at the risk free rate. There are no limits on short sales and all investors have homogenous estimates of return, risk, and variances. There are no taxes and transaction costs and all assets are highly liquid and marketable. The quantities of the assets are fixed and there is perfect market meaning investors cannot influence price and are price takers. The CAPM is based on the Capital Market line and the Security Market Line. The CML implies that all investors under the CAPM assumption must hold a combination of risk free securities and a market portfolio. If the market is in equilibrium the market portfolio will consist of every security in the same proportion as it is in the market. The CML specifies the relationship between an efficient market portfolio’s risk and return. CAPM focuses on individual securities as well and the SML defines the relationship between the risk and return of ind ividual securities which can be figured out by using the risk premium formula RPm = (km –krf) bm The required return on a specific stock according to CAPM would be the sum of the risk free rate and the product of the risk premium into beta. ... Beta is the relevant risk of an asset and is calculated as the gradient of the characteristic line which is the plotting of historical returns of an individual stock. Beta measures the volatility of returns compared to the volatility in the market. It is the measure of risk used in the SML whereas standard deviation is used as the market risk measure in CML. Although, CAPM has been used in security valuations its assumptions do not reflect a real market setting. As most investors in the real world do not hold fully diversified efficient portfolios, the beta would not be a sufficient measure of risk and SML would not be applicable for the required rates of return. As there are taxes and transaction costs in reality and assets have different degrees of liquidity this assumption does not hold true either. All investors do not have same forecasts of expected risk and return and they usually borrow according to their credit standing which is higher than the risk free rate. There is a disp arity in borrowing and lending rates which will distort the CML and thus the SML line. In many markets, large investors can influence price through buying and selling securities. Examples: Example 1: Krf= 6% Km=5% Beta for Kellogs foods is 1.2 Then the cost of equity would be = 6 + ( 6-5 ) 1.2 = 7.2 Example 2: The CAPM can be used to calculate the cost of common stock through the insertion of the risk free rate, expected market risk premium and the beta coefficient into the SML equation. For example: Krf= 8% Km=12% Beta for Kellogs foods is 1.2 Then the cost of equity would be = 8 + ( 12-8 ) 1.2 = 8 + 4.8 = 12.8 % The required return on Kellog’s stock would be 12.8%, 0.8% greater than the market return as its beta is greater than 1. However, due to

Textual Analysis Essay Example | Topics and Well Written Essays - 1000 words - 2

Textual Analysis - Essay Example For him, group absolution means the dominance of the group influence over individual will. Grossman effectively convinces the audience through pathos and logos that people can kill another person because of their group bonds that dissolve their accountability and promote their anonymity, although he commits the fallacies of false analogy, biased sample, and confusing cause and effect, when he fails to expand his sampling and to identify other probable motivations and conditions for killing. Grossman effectively convinces the audience through pathos that it takes emotional bonding to do something as hard as killing another human being, as well as being killed. He uses different emotional examples to support his claim. For instance, he mentions Dinter who explains that the â€Å"integration of the individual in the group† can be so deep that when the group is destroyed or defeated, individuals either fall to depression or commit suicide (Grossman 149-150). This example is emotio nally charged because it describes how people give up their lives when their groups falter. Furthermore, Grossman highlights the emotional connections involved in group bonding that can overpass the will of survival. He cites the account of a veteran U.S. Marines Corp. Gwynne Dyer, who underlines the role of â€Å"peer pressure† in combat, while Ardant du Picq calls it â€Å"mutual surveillance† (Grossman 150). He mentions these people who believe that groups form emotional connections, which make them extremely aware of and sensitive to one another’s opinions and actions. In addition, Grossman uses examples of emotional value to stress the association between emotional group bonds and individual action. He narrates the action of Audie Murphy as a form of gallantry: â€Å"[Murphy] won the Medal of Honor by single-handedly taking on a German infantry company† (Grossman 155). The word â€Å"single-handedly† suggests that, for Grossman, what Murphy di d is not stupid, but rather admirable. Grossman extends this admiration by quoting something deeply emotional from Murphy, who said that he attacked the Germans against all odds because â€Å"they were killing [his] friends† (Grossman 155). Murphy is illustrated as a selfless, devoted comrade, an emotional tactic that depicts how emotions surpass rationality in the context of heroic acts. Grossman, hence, clearly articulates through the testimonies of others that killing is a group business with strong emotional attachment, and not a product of individual will alone. While using pathos, Grossman also employs logos to explain how the group shapes individual combat behavior. He uses analogy to describe the parallelism between animal and human group behavior. He narrates the result of the 1972 research of Kruck, who learned that some animals slaughter prey that are more than necessary for their consumption because of group behavior (Grossman 151). Grossman believes that the same analogy applies to people in groups, where they think and act like a herd, instead of as separate individuals. He adds the explanation of Shalit, which he believes is important to corroborate his analogy. Shalit believes that â€Å"senseless violence in the animal world† is similar to â€Å"violence in the human domain,† and in both cases, groups are the ones who conduct violent acts, not individuals (Grossman 151). Senseless violence cannot be performed by one individual in normal cases, but groups can

Should broadcasters be required to accept advocacy advertising Research Paper

Should broadcasters be required to accept advocacy advertising - Research Paper Example It is the duty of the media to convey only the facts to the public. If media has some interests in exaggerating certain issues or hiding certain issues, the public will never get the exact dimensions of such issues. In other words, public may become forced to take wrong stands on issues if they get inadequate information. For example, Obama’s bailout package or healthcare reform policies may have lot of advantages and disadvantages. It is the duty of the media to convey both the merits and demerits of these policies to the public. If the media tries to focus more on either the merit or the demerit, the public will not get the actual picture about these polices. In an advocacy advertising campaign, â€Å"although separate displays may be taken within a campaign are to different audiences, each of these advertisements should communicate the same central message of the campaign†(The Essentials of Advocacy Advertising, n. d). In short, advocacy advertising forces broadcaste rs to spread the same message to the audience through different types of advertising. Thus the audience or the public will get the same content in different forms while broadcasters engage in a advocacy advertising.

Textual Analysis Essay Example | Topics and Well Written Essays - 1000 words - 2

Textual Analysis - Essay Example For him, group absolution means the dominance of the group influence over individual will. Grossman effectively convinces the audience through pathos and logos that people can kill another person because of their group bonds that dissolve their accountability and promote their anonymity, although he commits the fallacies of false analogy, biased sample, and confusing cause and effect, when he fails to expand his sampling and to identify other probable motivations and conditions for killing. Grossman effectively convinces the audience through pathos that it takes emotional bonding to do something as hard as killing another human being, as well as being killed. He uses different emotional examples to support his claim. For instance, he mentions Dinter who explains that the â€Å"integration of the individual in the group† can be so deep that when the group is destroyed or defeated, individuals either fall to depression or commit suicide (Grossman 149-150). This example is emotio nally charged because it describes how people give up their lives when their groups falter. Furthermore, Grossman highlights the emotional connections involved in group bonding that can overpass the will of survival. He cites the account of a veteran U.S. Marines Corp. Gwynne Dyer, who underlines the role of â€Å"peer pressure† in combat, while Ardant du Picq calls it â€Å"mutual surveillance† (Grossman 150). He mentions these people who believe that groups form emotional connections, which make them extremely aware of and sensitive to one another’s opinions and actions. In addition, Grossman uses examples of emotional value to stress the association between emotional group bonds and individual action. He narrates the action of Audie Murphy as a form of gallantry: â€Å"[Murphy] won the Medal of Honor by single-handedly taking on a German infantry company† (Grossman 155). The word â€Å"single-handedly† suggests that, for Grossman, what Murphy di d is not stupid, but rather admirable. Grossman extends this admiration by quoting something deeply emotional from Murphy, who said that he attacked the Germans against all odds because â€Å"they were killing [his] friends† (Grossman 155). Murphy is illustrated as a selfless, devoted comrade, an emotional tactic that depicts how emotions surpass rationality in the context of heroic acts. Grossman, hence, clearly articulates through the testimonies of others that killing is a group business with strong emotional attachment, and not a product of individual will alone. While using pathos, Grossman also employs logos to explain how the group shapes individual combat behavior. He uses analogy to describe the parallelism between animal and human group behavior. He narrates the result of the 1972 research of Kruck, who learned that some animals slaughter prey that are more than necessary for their consumption because of group behavior (Grossman 151). Grossman believes that the same analogy applies to people in groups, where they think and act like a herd, instead of as separate individuals. He adds the explanation of Shalit, which he believes is important to corroborate his analogy. Shalit believes that â€Å"senseless violence in the animal world† is similar to â€Å"violence in the human domain,† and in both cases, groups are the ones who conduct violent acts, not individuals (Grossman 151). Senseless violence cannot be performed by one individual in normal cases, but groups can

Criminal Case Study Example | Topics and Well Written Essays - 1500 words

Criminal - Case Study Example This will ensure that there is an efficient trial which is aimed to bring across justice. Criminal law deals with crimes and the legal punishments of criminal offences under the body of statutory and common law. A peaceful social order and justice is achieved in the society by imposing sanction of the crime. Criminal justice is governed by four theories namely: punishment, incapacitation, deterrence and rehabilitation. 1 A crime is an act of default or conduct prejudicial to the community, the commission of which by law renders the person responsible liable to be prosecuted and eventually punishing the guilty person accordingly. The prosecutor has a duty of bring the charges against the accused person and prove establish his guilty beyond any reasonable doubts. The prosecution for crime is conduct in the name of the state and the case is styled as - State versus name of the accused. (Van de Haag, 1978) Whereas civil law deals with the relationship between an individual and their rights and obligations under the law, criminal law is a system of regulating the behaviours of persons in relation to societal norms. A criminal proceeding commences with an alleged crime whereby an accusation is made by the compliant and the police being the government agent investigates the matter. During the proceedings, the interest of the government is represented by the prosecuting attorney or prosecutor while those of the defendant are represented by his defence attorney or by himself. 2 An exact circumstance that comprises a crime is supposed to be spelt out by the criminal statute in what is known as the element of the offence. The defendant cannot be proved to be guilty of the offence unless the prosecuting authority proves the elements of the offence spelt out in the criminal statute. Three elements of the offence are: the act itself, the actus reus, guilty act; the requisite mental state, the mens rea, guilty mind; and the attendant circumstances. (Fletcher, 1998) For our case, Arnold who was a member of an anti-capitalist organisation committed to the violent overthrow of society is a criminal offence when he released a toxic gas into the underground rail system of a city. This is a public nuisance which is actionable at the suit of the prosecutor on behalf of the public. A public nuisance can be defined as an act which interferes with the enjoyment of a right whereby all member of the society are entitled to for example right to fresh air or travel on the highway or rail. (Langhan, 1999) Arnold endangered the life of passengers using the railway system with the toxic case hence he should be prosecuted for public nuisance. The remedies in nuisance are damages, injunction and abatement. Damages This is an ordinary common law remedy whereby the damages claimed are un-liquidated as the court has power to fix them. Injunction This is an equitable remedy which is granted at the discretion of the court circumstances

Mineral Exploration Essay Example for Free

Mineral Exploration Essay Mineral exploration is the initial stage of the mining cycle. It is a sequential process of information gathering that assesses the mineral potential of a given area. In simple words it is the search for mineral deposits. The reason of exploration is to trace a new source of metal or useful minerals. This includes industrial minerals like silica or clay minerals, metals like iron, lead, zinc, etc., and precious metals and gemstones like gold and diamonds. Types of Mineral Exploration  ·Grassroots exploration involves looking for a deposit in an area where the mineral or metal has never been found till date.  ·Brownfield exploration is the search for any traces of additional deposits near an identified mine.  ·On-mine-site exploration is about expanding a mineral resource that has been found beforehand and developed on the property of an existing mine. Mineral Exploration Process Prospecting It is the search for mineral deposits and starts with an idea or geologic model that identifies lands worthy of advance exploration. It basically includes prospectors walking the around examining and mapping rock types and collecting rock and soil samples by hand for either mineral or laboratory analysis. Mining Claim Staking It is exercised in all the countries as a way of indicating to the government the area that a company wishes to explore further in detail. The license required to stake a claim can be applied for at a mining recorders office. Once a claim is staked and approved by the appropriate government agency, it gives the company the exclusive right to explore that section of ground for a specific time. Detailed Exploration Once a claim has been staked and based on the results of its initial prospecting work, the company will come to a decision on whether to carry on with more detailed exploration. Many minerals are buried deep beneath soil so to test if minerals are present advanced techniques are used such as geophysical and geochemical surveys, and diamond drilling programs are also used. Sampling and Drilling If earlier stages suggest that there is the probability of a mineral deposit underground, the exploration company now might be able to sample that rock to calculate approximately the extent and form of that mineral deposit. The samples are then sent to laboratories for testing and the company will analyze the results.

Narketing in the Digital Age :: essays research papers

Marketing In The Digital Age ANSWERS Be sure to answer all parts of each question. Be sure to use complete sentences whenever appropriate. Good Luck! 1.  Ã‚  Ã‚  Ã‚  Ã‚  What were the four major forces that shaped the digital age? Digitalized and Connectivity Internet Explosion New type of Intermediaries Customization and Customerization 2.  Ã‚  Ã‚  Ã‚  Ã‚  What are the four major e-commerce domains? Business to Consumer Business to Business Consumer to Consumer Consumer to Business 3.  Ã‚  Ã‚  Ã‚  Ã‚  Define internet, intranet and extranet Internet: A vast public web of computer networks, which connect users off all types   Ã‚  Ã‚  Ã‚  Ã‚   Around the world to each other and to an amazingly large information repository. Intranet: A network that connects people within a company to each other and to the Company network. Extranet: A network that connects a company with it’s suppliers and distributors. 4.  Ã‚  Ã‚  Ã‚  Ã‚  Discuss the benefits of integrating online selling with in-store selling (use examples). For example the store Game Stop and Game Stop dot com. They have an advantage on both territories and they broaden the customer base, by being available and online. You can afford to discount more sometimes online, to keep the customer shopping, and the company can make the customer service base open both online and in person, no matter how you bought the product. Also if you there was a problem with the product, you can physically take it back to the store and they can return or exchange. So the benefits are great, because the company has both markets at it’s advantage. 5.  Ã‚  Ã‚  Ã‚  Ã‚  E-commerce and the Internet bring many benefits to both buyers and sellers alike. Briefly discuss the benefits to both buyers and sellers. For buyers they might get the opportunity to by a mass quantity at a low price and it can keep a company’s overhead down. For a buyer, to me the main element is convenience, because you do not have to go to the actual store, you tend to get online discounts that is not available in store, and you have a better chance in obtaining your product, because you can possibly be obtaining it directly from the company. 6.  Ã‚  Ã‚  Ã‚  Ã‚  Discuss the differences between click-only companies and click-and-mortar e-marketers. Click-only companies are online only, but a click- and-mortar has both Brick and Mortar and has added an e-commerce to the company. 7.  Ã‚  Ã‚  Ã‚  Ã‚  Define viral marketing. What is the link between viral marketing and word-of-mouth communication? Discuss the benefits of viral marketing. Viral Marketing is the internets version of word of mouth. Vial marketing involves creating an email or another marketing plan that is so infectious that it makes a person want to forward it.

Women Must Unite to End War :: Feminism Feminist Women Criticism

War, war machines, jihad. These words have entered the vocabulary of everyday practice during the past twenty years. They mark a new stage in the discourse of Empire, what Hardt and Negri call a global project of network power, that knits the world together in a dynamic fabric of exchange, flows but also of conflict. 9-11 was a catastrophic example of the ways in which the threads in this fabric tighten and break. American citizens felt for the first time how the apparently innocent business of moneymaking in New York City and of policymaking in Washington DC are seen as criminal elsewhere. The daily deals struck in the financial and military-political capitals of the U.S. have direct and mostly negative consequences for most of the rest of the world. These consequences are invisible to the average American citizen, they are searingly obvious elsewhere. 9-11 has a long history going back through the Gulf War to the establishment of Israel in 1948. It is a history that spans the length of the Cold War and is witness to the growing suspicion and fear of U.S. policies in the region. Indeed, the last great battle of the Cold War took place in a dry dusty landlocked backwater called Afghanistan. Having been chosen for this showdown between the two superpowers placed Afghanistan squarely on the stage of world history. It is hard to know who got there first, to find the origins of the last great battle of the cold war. One version, which I find compelling, has it that when, on December 24, 1979, the Soviets invaded and took over rule of the country with the help of Afghan tribesmen in the north, they were not venturing into virgin territory. Six months earlier, President Carter had signed the first directive for secret aid to the opponents of the pro-Soviet regime in Kabul. Zbigniew Brzezinski claims in a Jan. 15-21, 1998 interview for the French "Le Nouvel Observateur" that the U.S. government "didn't push the Russians to intervene, but we knowingly increased the probability that they would." The CIA recruited Afghan tribesmen separated from their birthplaces by war and displaced into dehumanizing refugee camps where religious education provided their only anchor. The U.S. government armed these men with guns and capitalist ideology and they won. The U.S. declared the Soviets defeated, the cold war over, and their warriors were left to fend for themselves.

Music affect the growth of a plant Essay

Plant growth is the development of seeds of a plant, which might be surrounded by a protective and nutrient rich layer called the fruit, into plant tissue that includes roots, leaves, and the stem (along with all the cells and other things that this tissue is composed of) to create a fully functioning, living, multi-cellular, eukaryotic organism that lacks the ability to move (a plant). Their growth is affected by several factors that include soil moisture, soil pH, sunlight, nitrogen-content of the soil and more. If some these factors are affected in negative ways, then there can be some negative outcomes on the plant itself which could include death. Music might also be one of these affecting factors. In this experiment, two very young plants (pinto bean sprouts – Phaseolus vulgaris) will be planted at the same time and will have the same amount of everything; from sunlight to the amount of water they get daily. After they have grown a little and the stem has begun to emerge from within the cotyledons of the bean, they are then separated, and one plant sits in the peace and quiet as a control while the other is subjected to some serious loud music. If conditions are right, the music should stimulate the plants growth. Hypothesis If a pinto bean sprout (Phaseolus vulgaris) plant is grown in a quiet area and another pinto bean sprout is grown in an area with loud music playing, the plant in the area with music will grow to be much larger. The amount of growth will be measured with a metric ruler in centimeters Variables Independent Variables: Temperature, Light, Water: These three factors are equally distributed among both plants, so only variable that would affect plant growth is the music played. Type of Plant and soil: same type of bean sprout used for both plants as to ensure that there are no other variables other than the music being played for the plant along with the same type of garden soil Dependent Variables: The height of both plants after a day of one plant being exposed to silence and the other to music. Control of Variables: 1. Get to pinto beans (Phaseolus vulgaris) to be grown that are identical to ensure no other affecting variables in this experiment other than the music being played. 2. Expose both plants to identical conditions of moisture, temperature, sunlight and have both of them grow in the same type of garden soil and they will be grown in containers with the same size as well. 3. For the plant being exposed to music, the same album is played over and over so the type of music is consistent. Materials and Method Materials 2 pinto bean sprouts (Phaseolus vulgaris) 180 ml of water 2 plant pots – top opening is 4 inch diamter 2x ‘500g’ of garden soil 500 watt stereo Metric Ruler Linkin Park Album – Hybrid Theory 100 ml graduated cylinder Method and Procedure 1. Take the 2 plant pots and fill them each with 500 g of garden soil 2. Then, take a pinto bean and plant it in each of the pots; plant each bean so that it is just barely submerged under the soil. 3. Then, take each pot to a different location, but a location in which both plants will be exposed to the same amount of sunlight, heat, etc†¦ 4. Then, just leave one plant in the serenity of its surroundings (it’s the control) and place the 500 watt stereo next to the other plant. Put the CD into the stereo and have the stereo play at about three-fourths its full volume and have it play next to the plant and have it play for a minimum of 7 hours next to the plant. Look at the diagram below for more information. 5. At noon give both plants 30 ml of water using the graduated cylinder. Do this again at 6 p. m. 6. The next day, note your observations and record your findings in a table. 7. Then feed the plants again and play the music for at least 7 hours and record the observations once more the next day. SETUP Data Collection and Evaluation Table: The effect of music on plant growth Day Plant without Music Plant with Music 1 The plant had sprouted and a small stem began to appear- 2 cm in length The plant had also sprouted and a stem larger than that of the other plant’s appeared- about 2. 47 cm 2 The plant continued to grow and the stem had reached a height of approximately 3. 22 cm. The plant’s stem also continued to grow but the stem had now reached a height of about 3. 85 cm Data Evaluation From the numbers and observations presented in the above data, that as time passed and the plants were closely monitored, the plant that had the music playing seemed to grow a lot more than the plant that grew in the quiet and serene environment; the quiet plant ended with a height of 3. 22 cm while the plant with music ended with a height of about 3. 85 cm. Conclusion and Evaluation Conclusion. In the above data, it is deciphered that plants that grow with music grow much more than plants that grow in a quieter environment. This all has to do with the fact that different factors affect or stimulate plants, and sound is one of them. And, from the data, sound is a positive stimuli as it increased plant growth in one of the plants. This verifies the hypothesis and, since there are other results on the internet as well to verify that music really does stimulate plants, the results are plausible and reliable. Limitations Not everything can go according to plan or as hoped and so these errors that occurred during the experiment provide a basis from which the experiment can be proved: 1. There was only one trial instead of several and the experiment in this one trial was over a 48 hour period and it should have been longer so that the true comparison of the difference between a plant grown with music and a plant grown without music can be easily made. 2. Only one type of music (rock) was used and so it is now unknown whether different kinds of music and sound also act as a different stimulus for the plant. Suggestions for Improvement To create a much better and more reliable experiment, the experiment should be carried on for about a 4 day period in order to acquire more results than can show the differences between plants with and without music. Then, there should be at least 3 different plants; one control, one with a type of music, and another with a different type of music. This then will help to go deeper and explore this stimulus of sound toward plants on different levels. This entire experiment should then be at least repeated one more time to ensure plausible results. Bibliography http://forums. gardenweb. com/forums/load/teach/msg0113244514471. html? /teach/msg0113244514471. html http://www. sproutnet. com/toc. htm http://www. gcagators. org/Activities/fair/jason/analysis. htm.

Impact of sea power upon history Essay

Introduction â€Å"The profound influence of sea commerce upon the wealth and strength of countries was clearly seen long before the true principles which governed its growth and prosperity were detected. † (Mahan 2004) Water covers over three-fourths of the earth’s surface. The entire human civilization lives on the remaining one-fourth area of earth. And only 3% of the entire water present on the earth’s surface is fresh water. This leaves most of the remaining part of earth’s water area, as large salty water bodies everyone knows by the name of seas or oceans. These are the facts known to all, but few really come to know and appreciate the power that seas have wielded in the development of civilization. Before man ventured out into the sea for traveling, he was just a semi-barbaric creature, with limited trading and social skills. As humans decided to venture beyond to uncharted sea territories, and discovered new lands and newer civilization, the world started to get close and hence the progress of mankind, other than strictly in the biological sense, came into picture. But, progress was not the only thing which sea brought; sometimes it also brought diseases like plague and big destructive wars to people residing on its shores. This paper will analyze all these issues, and will attempt to look at the effects these events brought to the civilization as a whole. â€Å"The history of Sea Power is largely, though by no means solely, a narrative of contests between nations, of mutual rivalries, of violence frequently culminating in war. † (Mahan 2004) History of Navigation History of Navigation can be traced back to centuries. Merchants in Egypt and Mesopotamia used to build large commercial vessels to carry and trade goods, more than 5500 years ago. In Egypt, sea voyage are even recorded in hieroglyphics, which can be dated back to 3200 BCE. One can take this as the starting point to trace the beginnings of navigation as a commercial pursuit. The first Western civilization in history, which is known to have developed the art of navigation at sea were the Phoenicians, more than 4,000 years ago. The popular stories of Helen of Troy were all related to sea travel. Phoenicians were in fact the first to use Pole Star for navigation, according to some accounts. Still under overcast skies, the navigation was usually based on sheer guesswork and intuition, till in about 2000 years ago, when Chinese created the first magnetized needle compass. This technique spread across the world in about a thousand years. In 12th and 13th centuries the science of making proper nautical charts and celestial almanacs began. By the 15th and 16th centuries, aggressive exploration of the world of the world started with explorers like Columbus getting funds from their respective Emperors to explore and enslave newer lands (Spera & Strom 2002). Nevertheless, it is wrong to think that the early explorers used to sail into the unknown without any idea of their final destination. It is true though that while searching for a specific land or route, the explorers were often surprised at the new lands they discovered. This was because many times the country they were seeking was only known in legend or rumor, the most famous example being Columbus, in the recent times. While the entire world is now charted and studied thoroughly, sea does not hold any less influence. The destruction brought by Tsunami is a very recent event. And even Mahan’s lines about sea and war, mentioned above, still hold true, as the countries still are always protecting themselves against attacks from other countries. Famous Historical battles Countless battles have been fought over the sea shaping the civilization, by up throwing older empires and making newer one. One of the most famous older battles is the Battle of Thermopylae between the Greek and Persians, changing the course of the entire war. As is mentioned in the section above, the aggressive exploration started in the 15th and 16th centuries, to enslave newer and older countries. Before this the exploration of the sea was usually only trade-oriented. Many of the 16th century explorations were funded by the reigning Monarchs who wished only to increase their area of reign (Stafford 2005). Major battles that were fought in this period were between English, Dutch, French and Spanish Monarchy. The popular battles were the Anglo-Dutch war 1665-1667, war England and France against united Provinces 1672-1674, between France and the entire Europe in1674-1678, battle of the Spanish succession 1702-1713 i. e. The Sea battle of Malaga, Sea battles between Britain and Spain 1748, Seven years war which establishes the English Supremacy over the seas 1756-1763, Naval war in America and West Indies in 1778-1781 which led the way to the American Revolution etc (Mahan 2004). These wars led to the building and destruction of colonies, and in turn exposed the people in the colonies to a wide array of culture and newer ideas which were previously only prevalent in the Europe, and had led to them being superiors over other cultures. Diseases brought by sea. Diseases is not a term usually associates with the sea, even though the possibilities are huge. However, the most destructive spread of Plague can be attributed to the seas and trade routes. Plague is one of the most destructive as well as the most incomprehensible disasters for humanity. While there is no direct relation between sea and plague, yet the spread of plague with sea from one to other port cities is a very relevant domain. The earliest and the best documented history of Plague was that of the Justinianic plague in the mid-sixth century. The Justinianic plague generally followed trading routes and therefore, was especially brutal to coastal cities. This plague originated either in Ethiopia, moving through Egypt, or in the Central Asian steppes, where it then traveled along the caravan trading routes. Finally through either of these locations the disease quickly spread throughout the Roman world and beyond (Smith 1996). Another very infamous Plague closely resembling, but much more destructive was the Black Death in 1348. The effect of sea on Plague is even worse in this case. The Plague started in China and made its way west across Asia to the Black Sea by 1347. One theory states that a group of infected Tartars besieged a Genoese outpost on the coast. Tartars harassed the trapped townspeople by hurling the dead bodies of their comrades over the town walls spreading the epidemic among the Genoese. The panicked inhabitants fled the scene by ship showing up in the ports of northern Italy and bringing the Black Death to Europe (www.eyewitnesstohistory. com). Conclusion The effect of sea on mankind has both – the positive effects of exchange of trade and ideas; and the negative effects of destruction and sometimes fatal diseases. One thing is clear however, no matter what the situation was, the mankind always managed to surge ahead learning newer things and forging newer relations. This has in the end brought only positive influences to the mankind in the longer run. References Books Mahan A. T, â€Å"The Influence of Sea Power Upon History†, 2004, Gutenberg. Stafford J, â€Å"Some Principles of Maritime Strategy†, February 16, 2005, Gutenberg Magazines Spera G, Strom S. R, â€Å"The Back Page: A Brief History of Human Navigation†, Crosslink Volume 3, Number 2, 2002, http://www. aero. org/publications/crosslink/summer2002/backpage. html Journals Smith C. A, â€Å"Plague in the Ancient World: A Study from Thucydides to Justinian†, The Student Historical Journal, 1996-97, http://www. loyno. edu/~history/journal/1996-7/Smith. html Websites â€Å"The Black Death, 1348,† EyeWitness to History, www. eyewitnesstohistory. com, 2001.

Harvard business publishing Essay

In mid-September of 2010, Emily Harris, vice president of New Heritage Doll Company’s production division, was weighing project proposals for the company’s upcoming capital budgeting meetings in October. Two proposals stood out based on their potential to strengthen the division’s innovative product lines and drive future growth. However, due to constraints on financial and managerial resources, Harris knew it was possible that the firm’s capital budgeting committee would decline to approve both projects. She also knew that New Heritage’s licensing and retail divisions would promote compelling projects of their own. Consequently, Harris had to be prepared to recommend one of her projects over the other. The Doll Industry Revenues in the U.S. toy and game industry totaled $42 billion in 2008 and were projected to increase by 4.6% per year to $52.5 billion by 2013. The market was divided into two broad segments: video games (48%) and traditional toys and games (52%). The second segment was further divided into infant/preschool toys (14.5%), dolls (14.1%), outdoor & sports toys (12.3%), and other toys & games (59.1%) including arts and crafts, plush toys, action figures, vehicles, and youth electronics. The U.S. market for toys and games was dominated by large global enterprises that enjoyed economies of scale in design, production, and distribution. Revenues were highly seasonal; the largest selling season in the United States coincided with the winter holiday period. Within the toy and game segment, U.S. retail sales of dolls totaled $3.1 billion in 2008 and were projected to grow by 3% per year to $3.6 billion by 2013. The doll category included large, soft, and mini dolls, as well as doll clothing and other accessories. The phenomenon of â€Å"age compression†Ã¢â‚¬â€ the tendency of younger children to acquire dolls that had traditionally been designed for older girls—reduced growth in the â€Å"baby-doll† sub-segment. Competition among doll producers was vigorous, as a small number of large producers targeted similar demographics and marketed their dolls through the same media. Lasting franchise value for a branded line of dolls was rare; the enormous success of Barbie ® dolls was an obvious exception. More recently and on a much smaller ________________________________________________________________________________________________________________ HBS Professor Timothy Luehrman and HBS MBA Heide Abelli prepared this case solely as a basis for class discussion and not as an endorsement, a source of primary data, or an illustration of effective or ineffective management. Th is case, though based on real events, is fictionalized, and any resemblance to actual persons or entities is coincidental. There are occasional references to actual companies in the narration. Copyright  © 2010 Harvard Business School Publishing. To order copies or request permission to reproduce materials, call 1-800-545-7685, write Harvard Business Publishing, Boston, MA 02163, or go to http://www.hbsp.harvard.edu. No part of this publication may be reproduced, stored in a retrieval system, used in a spreadsheet, or transmitted in any form or by any means—electronic, mechanical, photocopying, recording, or otherwise—without the permission of Harvard Business Publishing. Harvard Business Publishing is an affiliate of Harvard Business School. Purchased for use on the MSc Business Valuation, at Imperial College London. Taught by James Sefton, from 21-Aug-2013 to 31-Dec-2013. Order ref F211857. Usage permitted only within these parameters otherwise contact info@thecasecentre.org Educational material supplied by The Case Centre Copyright encoded A76HM-JUJ9K-PJMN9I Order reference F211857 New Heritage Doll Company: Capital Budgeting 4212 | New Heritage Doll Company: Capital Budgeting scale, New Heritage also had created a durable franchise for its line of heirloom dolls. But the popularity of most doll lines waned after a few years. New Heritage Dolls By 2009, New Heritage had grown to 450 employees and generated approximately $245 million of revenue1 and $27 million of operating profit from three divisions: production, retailing, and licensing. The production division, discussed further below, designed and produced dolls and doll accessories. The retailing division offered a unique â€Å"intergenerational experience† for grandmothers, mothers, and daughters, centered upon the character histories and storylines of the company’s dolls and delivered through an online website (42%), a mail-order paper catalog (33%), and a network of retail stores (25%). In fiscal 2009, the retailing division generated roughly $190 million of revenue and $4.8 million of operating profit. The licensing division was started in 1998, and represented the company’s newest and most profitable division. It sought to extend the New Heritage brand and capitalize on high levels of customer loyalty by selectively licensing the company’s doll characters and themes to a variety of media that reached the firm’s target demographic of toddler to pre-teen girls. In fiscal year 2009 the licensing division generated $24.5 million of revenue and $14.5 million in operating profit. New Heritage’s Production Division Production was New Heritage’s largest division as measured by total assets, and easily its most asset-intensive. Approximately 75% of the division’s sales were made to the company’s retailing division, with the remaining 25% comprising private label goods manufactured for other firms. Table 1 summarizes the division’s various sources of revenue and operating income. Table 1 Production Division Data: Revenue ($ millions) Operating Income ($ millions)    New Heritage’s dolls and accessories were offered under distinct brands with different price points, targeting girls between the ages of 3 and 12 years. The company’s baby dolls were generally priced from $15–$30, and were offered to younger girls in earlier stages of development. These dolls typically came with a â€Å"birth certificate† and a short personal history. Dolls in the higher-end of this category incorporated technology that produced a limited amount of speech and motion. For the 1 The division revenue figures include approximately $95 million of internal sales within divisions which are eliminated when considering consolidated revenue for the company. BRIEFCASES | HARVARD BUSINESS PUBLISHING Purchased for use on the MSc Business Valuation, at Imperial College London. Taught by James Sefton, from 21-Aug-2013 to 31-Dec-2013. Order ref F211857. Usage permitted only within these parameters otherwise contact info@thecasecentre.org Educational material supplied by The Case Centre Copyright encoded A76HM-JUJ9K-PJMN9I Order reference F211857 The New Heritage Doll Company was founded in 1985 by Ingrid Beckwith, a retired psychologist specializing in child development and the grandmother of two young girls. Dr. Beckwith believed the dolls produced by the major toy companies did little to develop girls’ imagination or foster a positive self-image, so she created a line of dolls with unique storylines and wholesome themes. Dr. Beckwith’s dolls struck a chord among mothers and grandmothers who also rejected the dated, clichà ©d images portrayed by the popular dolls of the day. New Heritage Doll Company: Capital Budgeting | 4212 New Heritage outsourced much of its production to a select number of contract manufacturers in Asia. To ensure product quality and safety, the company maintained a fulltime staff to oversee material sourcing, production, and quality control on site at each of its manufacturing partners. Manufacturing activities that required precise tolerances or proprietary processes, along with all the creative elements (design and product prototyping, for example), were handled in-house at the company’s headquarters facilities in Sacramento, California. Educational material supplied by The Case Centre Copyright encoded A76HM-JUJ9K-PJMN9I Order reference F211857 Capital Budgeting at New Heritage New Heritage’s capital budgeting process retained some of the informality that characterized the company’s early years as an innovative startup. As the company grew, deliberate steps were taken to decentralize some of the project approval process and increase spending authority at the division level. However, large and/or strategic spending proposals were reviewed at the corporate level by a capital budgeting committee consisting of the CEO, CFO, COO, the controller, and the division presidents. The committee examined projects for consistency with New Heritage’s business strategy and sought to balance the needs and priorities of each division against practical financial and organizational constraints. The committee also sought to understand project interdependencies and the potential for a given investment to strengthen the whole company, not solely the division proposing it. New Heritage’s capital budget was set by the board of directors in consultation with top officers, who in turn sought input from each of the divisions. The capital and operating budgets were linked; historically, the capital budget comprised approximately 15% of the company’s EBITDA. The committee had limited discretion to expand or contract the budget, according to its view of the quality of the investment opportunities, competitive dynamics, and general industry conditions. Before being considered by the committee, projects were described, analyzed, and summarized in self-contained proposal documents prepared by each division. These contained business descriptions, at least five years of operating and cash flow forecasts, spending requirements by asset category, personnel requirements, calculations of standard investment metrics, and identification of key project risks and milestones. Financial Analyses Financial analysis began with operating forecasts developed with oversight from New Heritage operating managers. Revenue projections were derived from forecasts of future prices and volumes. Fixed and variable costs were estimated separately, by expense category. Forecasts of working capital requirements were likewise vetted by line managers, who paid particular attention to a project’s requirements for various types of inventory. Forecasts for fixed assets and related depreciation charges were developed in cooperation with analysts reporting to the controller. HARVARD BUSINESS PUBLISHING | BRIEFCASES Purchased for use on the MSc Business Valuation, at Imperial College London. Taught by James Sefton, from 21-Aug-2013 to 31-Dec-2013. Order ref F211857. Usage permitted only within these parameters otherwise contact info@thecasecentre.org $75–$150 price range, New Heritage produced a line of heirloom-quality dolls and accessories. These were designed to appeal to older girls and to convey a sense of cultural and family tradition among grandmothers, mothers, and daughters. The heirloom dolls had more elaborate accessories and personal histories. Finally, the company offered a line of high-end dolls based on fictional â€Å"celebrities,† each associated with a charitable cause and embracing more contemporary fashion trends. These dolls targeted girls in the so-called â€Å"tween† age range of 8–12 years, and also were priced from $75–$150. Like the heirloom dolls, celebrity dolls also came with more elaborate stories and accessories. 4212 | New Heritage Doll Company: Capital Budgeting New Heritage assigned discount rates to projects according to a subjective assessment of each project’s risk. High-, medium-, and low-risk categories for each division were associated with a corresponding discount rate set by the capital budgeting committee in consultation with the corporate treasurer. Assessments of each project’s risk were made at the division level, but subject to review by the capital committee. Factors considered in the assessment of a project’s risk included, for example, whether it required new consumer acceptance or new technology, high levels of fixed costs and hence high breakeven production volumes, the sensitivity of price or volume to macroeconomic recession, the anticipated degree of price competition, and so forth. In 2010, â€Å"medium†-risk projects in the production division received a discount rate of 8.4%. High- and low-risk projects were assessed at 9.0% and 7.7%, respectively. Projects that created value indefinitely, given continuing investment, were treated as going concerns with a perpetual life. That is, NPV calculations included a terminal value computed as the value of a perpetuity growing at a constant rate. However, to preserve an element of conservatism, the capital committee generally insisted on relatively low perpetual growth rates – lower than New Heritage’s historical growth and lower than near-term growth forecasts for a given division. Investment Opportunities in the Production Division Emily Harris was focused on two of the production division’s most attractive current proposals. The first involved expanding the successful Match My Doll Clothing Line to include matching allseason clothing for tween girls and their favorite dolls. The second involved a new initiative, the Design Your Own Doll line, which employed web-based doll-design software to let users â€Å"customize† a doll’s features to the customer’s specifications. Match My Doll Clothing Line Expansion The Match My Doll Clothing line originally consisted of a few sets of matching doll and child clothing and accessories for warm weather. It quickly became successful after the daughters of a few celebrities were spotted and photographed wearing items from the line, and girls’ magazines included some of the line in â€Å"what’s hot to wear† sections. Given recent publicity, Marcy McAdams, the brand manager responsible for the line, believed the timing was perfect to expand. Specifically, McAdams proposed to create an â€Å"All Seasons Collection† of apparel and gear covering all four seasons of the year. She expected the new offerings to be at least as profitable as the existing line, since its current popularity would make it possible to maintain premium prices. She also hoped to take advantage of off-peak discounts offered by some suppliers and contract manufacturers as they tried to smooth their capacity utilization. In the same fashion, McAdams argued the expansion would help reduce, or at least not exacerbate, the seasonality in New Heritage’s sales and earnings. BRIEFCASES | HARVARD BUSINESS PUBLISHING Purchased for use on the MSc Business Valuation, at Imperial College London. Taught by James Sefton, from 21-Aug-2013 to 31-Dec-2013. Order ref F211857. Usage permitted only within these parameters otherwise contact info@thecasecentre.org Educational material supplied by The Case Centre Copyright encoded A76HM-JUJ9K-PJMN9I Order reference F211857 Operating projections for a given project were used to develop cash flow forecasts that would underpin calculations of net present value (NPV), internal rates of return (IRR), payback period, and other investment metrics. Cash flow forecasts were intended to capture the incremental effect of a proposed project on the firm’s cash flow for each year within the forecast period. That is, each project’s cash flow forecasts excluded non-cash items, such as depreciation charges, and nonincremental items such as sunk costs (i.e., costs that would be incurred regardless of whether a given project was undertaken or not). The cash flow forecasts were computed on an after-corporate-tax basis, but excluded all financing charges. Some elements of the cash flow forecasts were prepared with assistance from treasury analysts, but most of the necessary adjustments were well understood by division staff. New Heritage Doll Company: Capital Budgeting | 4212 To exploit the current popularity of the original Match My Doll Clothing line, especially given the fickle nature of children’s fashion trends, McAdams believed the opportunity had to be exploited without delay. Her investment proposal contained relatively large outlays for R&D, market research, and marketing to maximize the probability of quick acceptance and longer-term success for the follow-on line. Upfront investment expenditures are summarized in Table 2. Table 2 Match My Doll Clothing Extension Outlays The R&D and marketing expenditures would be deductible for tax purposes at New Heritage’s 40% corporate tax rate. The property, plant and equipment was expected to have a useful life of 10 years; the associated depreciation charges, shown in Exhibit 1, were based on the modified accelerated cost recovery system (â€Å"MACRS†) allowed by the IRS. Working capital requirements, shown in Table 2 for 2010 and in Exhibit 1 for subsequent years were based largely on recent historical experience with the original Match My Doll Clothing line. Finally, given the proven success of Match My Doll Clothing, Harris believed the project entailed moderate risk—that is, about the same degree of risk as the production division’s existing business as a whole. Design Your Own Doll This initiative targeted existing New Heritage customers, many of whom owned several of the company’s heirloom dolls. The company’s research showed that, when asked what features (e.g., appearance, ethnicity, â€Å"life story,† etc.) New Heritage should give to future dolls, loyal customers’ responses had a high correlation with their own personal data. That is, girls wanted dolls like themselves. Further research suggested that many loyal customers would purchase yet another doll if they could customize the doll’s features to create a â€Å"one-of-a-kind† addition to a girl’s or family’s existing collection of dolls. It also promised to increase the girl’s pride in and identification with the doll, both because of their shared features and because of the girl’s participation in creating the doll. This in turn further cemented customer loyalty. The customization process would begin with a new section of New Heritage’s website, where proprietary design software enabled the customer to select physical attributes of the doll such as hair color, hair length & style, skin color, eye shape, eye color, and other facial features. The software could combine selected features and produce a photo-realistic image showing the finished doll with user-selected accessories. The customer could zoom in or out on the image and rotate it to see different aspects. The software made it easy to try out different combinations of features and accessories before making a purchase. Elizabeth Holtz, brand manager for heirloom dolls, was very excited about the project. She observed, â€Å"A girl’s relationship with her favorite doll is often partly mommy and partly big sister. Either way, having your doll look more like you is really powerful. And there’s excitement in the experience: exploring the website, naming the doll-to-be, selecting her first outfit†¦even the anticipation of waiting for the new doll to arrive. I really think this is big.† Holtz also believed that the dolls could command a premium price. â€Å"Customers will naturally expect to pay more [for a HARVARD BUSINESS PUBLISHING | BRIEFCASES Purchased for use on the MSc Business Valuation, at Imperial College London. Taught by James Sefton, from 21-Aug-2013 to 31-Dec-2013. Order ref F211857. Usage permitted only within these parameters otherwise contact info@thecasecentre.org Initial Expenditures ($ thousands) 4212 | New Heritage Doll Company: Capital Budgeting custom doll],† she said. Market research with focus groups revealed significant enthusiasm for the product concept and supported the notion of premium prices. The web-based software tools and order entry system required New Heritage to make significant modifications to its existing technology infrastructure, expand its webhosting capacity, and modify the terms of its third-party service agreements to ensure a higher level of service quality. The majority of the R&D expenditures shown below were related to software development, hardware upgrades, and web design. The development time involved, including product testing, was expected to be approximately 12 months. Initial outlays, some of which occurred in 2010 and some in 2011 As with Match My Doll Clothing, the required R&D and marketing costs would be tax deductible. Manufacturing equipment had to be ordered by the end of 2010 to be ready for production at the beginning of 2012. While New Heritage had the option to pay for custom equipment in quarterly installments, the firm could get a substantial discount by paying for the equipment up front, in 2010. Figures in Table 3 and Exhibit 2 reflect the discounted cost of the equipment. To support the forecasted level of sales, substantial investment in working capital (primarily work in process inventory of partially manufactured dolls) would be required beginning in 2011. And still more equipment would have to be purchased and installed no later than 2014. In years 2015 and following, investments in working capital and equipment would revert to patterns familiar from the production division’s traditional lines of dolls. To complete development work, Holtz planned to use some of the company’s existing IT staff. The majority of the work would take place during calendar 2011. The number of people and their fully loaded costs are shown Table 4. These costs were not included by Holtz in the initial outlays shown in Table 3 or in the forecasts presented in Exhibit 2. The development personnel Holtz needed were considered â€Å"corporate† resources and were almost certainly available to work on the project. Table 4 Design Your Own Doll Development Personnel, ($ 000s) Application Development Personnel Costs: Web Application Developers Database Manager Systems Integration Specialist Total Cost BRIEFCASES | HARVARD BUSINESS PUBLISHING Purchased for use on the MSc Business Valuation, at Imperial College London. Taught by James Sefton, from 21-Aug-2013 to 31-Dec-2013. Order ref F211857. Usage permitted only within these parameters otherwise contact info@thecasecentre.org However, even a limited degree of customization increased manufacturing complexity and expense. Further, because of the low production runs and volume, fixed costs on a per unit basis were expected to be relatively high. Consequently, the breakeven volume for the project was also expected to be high. New Heritage Doll Company: Capital Budgeting | 4212 Finally, Holtz needed to give Harris her assessment of the project’s riskiness. On the one hand, Design Your Own Doll had a relatively long payback period, introduced some untested elements into the manufacturing process, and depended on near-flawless operation of new customer-facing software and user interfaces. If the project stumbled for some reason, New Heritage risked damaging relationships with its best customers. On the other hand, the project had a relatively modest fixed cost ratio, and it played to the company’s key strength—creating a unique experience for its consumers. Educational material supplied by The Case Centre Copyright encoded A76HM-JUJ9K-PJMN9I Order reference F211857 Emily Harris still needed to complete her review and financial analysis of the two proposals. McAdams and Holtz were in frequent touch with Harris and both had offered to respond to any questions she might have about the proposals: the business case, the financial projections, the operating details, or anything else. Harris expected that she would indeed have some follow-up questions as she worked through her financial analyses. She also knew that her final recommendation might disappoint some executives within the division, who would scrutinize it closely. It had to be well-supported.