The components of financial management Coursework

The components of financial management - Coursework Example Year Cash flow Discount factor Present value 0 (? 2m) 1 (? 2m) 1 (? 1.5m) 0.909 (? 1.3635m) 2 ? 1.0m 0.826 ? 0.826m 3 ? 1.3m 0.751 ? 0.9763m 4 ? 1.8m 0.683 ? 1.2294m 5 ? 1.3m 0.621 ? 0.8073m 6 ? 0.6m 0.564 ? 0.3384m ? 0.8139m The NPV of the project is ? 0.8139m. This is a positive amount and therefore is an indicator that the project can be carried on. Section II Associated risks of the project The risk associated with a project may be defined as the variability that is likely to occur in the future returns from the project. Risk arises in investment evaluation because we cannot anticipate the occurrence of the possible future events with certainty and consequently, cannot make any correct prediction about the cash flow sequence. In the context of capital budgeting projects, risk results almost entirely from the uncertainty about future cash inflows, because the initial cash outflow is generally known. These risks result from a variety of factors including uncertainty about future re venues, expenditures and taxes. Therefore, to assess the risk of a potential project, the analyst needs to evaluate the riskiness of the cash inflows. There are three possible attitudes towards risk that can be identified. These are: (a) Risk aversion (b) Desire for risk (c) Indifference to risk A risk averter is an individual who prefers less risky investment. The basic assumption in financial theory is that most investors and managers are risk averse. Risk seekers on the other hand are individuals who prefer risk. Given a choice between more and less risky investments with identical expected monetary returns, they would prefer the riskier investment. The person who is indifferent to risk would not care which investment he or she received. There are various risks involved in the project that have different degrees of consequences. Such risks may be categorized into technical risks, environmental risks, economic risks, political risks and project completion risks. (Horngren, Foster, & Datar, 2001) The risks that any project is predisposed can be avoidable or unavoidable and therefore a firm has to minimize the risks that face the projects it undertakes as much as possible. The project that is intended to be carried out can face the risk of errors in estimation. Such errors could disrupt the schedule of the whole project as a whole if the business and development teams do not work closely to curb such cases of errors. There is also the possibility that there can be a requirements overload whereby the requirements for the project are not well established and are therefore constantly being added later on during the development phases of the project. This disrupts the laid down schedule and delays the events of each step of the project. Lack of proper documentation of the project at the same time as the project progresses is also a risk that most projects face since critical information related to the project may be lost. PART B Section I Beck Bag Year Expected ca sh flows Accumulated cash flows 1 60,000 60,000 2 70,000 130,000 3 70,000 200,000 4 40,000 240,000 5 20,000 260,000 The project costs 200,000 and the amount is recouped in the third year, therefore the payback period is 3 years. Roo Bag Year Expected cash flows Accumulated cash flows 1 70,000 70,000 2 70,000 140,000 3 60,000 200,000 4 60,000 260,000 5 60,000 320,000 The project costs 260,000 and it takes 4 years to recoup this amount. Therefore the payba

Supply Chain Management in Whirlpool Research Paper

Supply Chain Management in Whirlpool - Research Paper Example Unlike its competitors like Electrolux, LG and General Electric, majority of the Whirlpool's products undergoes some form of manufacturing inside U.S. Although, Whirlpool outsource their operations, it is done minimally, with majority of its manufacturing plants located in North America. Apart from this manufacturing segment of its supply chain, Whirlpool also has a widespread distribution network to supply or reach the product to the intended customer. This distribution network consists of factory based distribution centers or warehouses, from where the finished product reaches the regional distribution centers, and then to the local distribution centers, thus finally reaching retail outlets for the client to buy. (Cookie, 2008). With such extensive operations, Whirlpool had to have an optimized Supply Chain Management (SCM) to satisfy the customers, and emerge successful. Although, in early 2000’s, Whirlpool had problems in managing its supply chain, by implementing effectiv e strategies and importantly by using Information technology (IT) tools, it has been able to strengthen its supply chain. Even after the acquisition of Maytag, Whirlpool continued to improve its supply chain by associating with strong players like Penske Logistics, who brought in more IT tools Porters’ five forces The bargaining power of the buyers has increased because now they have better information about the products, prices and their characteristics because of a lot of exposure about the company and its products through various mediums. In the case of Whirlpool also, the bargaining power of the buyers has accentuated and that is impacting its supply chain. So, to improve its supply chain, Whirlpool decided to first focus on the customer requirements, and then proceed from there, in a backward manner. With that focus, Whirlpool studied customers’ expectation and found they are â€Å"asking for accurate promises as a first requirement: "Give a date, hit a date."â⠂¬  (Lee, 2009, p.182). Because of this behavior of the buyers, Whirlpool understood they have to deliver products as soon as possible to the customers. â€Å"The supply chain needed to be able to get that appliance to [the consumer] within 48 hours,† (MacMilan, 2008). To fulfill this target, Whirlpool started incorporating technology in an accentuated manner in its supply chain. In that direction, Whirlpool also associated with number of suppliers in its supply chain, thereby increasing the bargaining power of the suppliers as well. Although, Whirlpool did not outsource its manufacturing operations, when it came to supply chain operations, it did not stress on conducting it in-house. After making thorough assessments regarding its extensive operations, Whirlpool decided to outsource the maintenance functions. Historically, its supply chain was divided into three parts, with Ryder Logistics handling supply of raw materials to the manufacturing plants and reaching the finishe d goods to its distribution centers, while ERX managed its regional distribution centers. (Bowman, n. d). For all these operations, Whirlpool had to supply its fleet of tractors and trailers, as well as manage it. That is when, Whirlpool overhauled its distribution strategy and decided to â€Å"transform its private fleet into a dedicated operation managed by an outsider†, with Penske Logistics coming into the picture. (Bowman, n. d). Penske Logistics with a wide range of IT

Book smarts with intellectualism and street smarts with Essay

Book smarts with intellectualism and street smarts with anti-intellectualism - Essay Example By agreeing with his premise, this student will retrace Graff’s logic and provide a level of external analysis that will provide the reader with a more informed understanding and logical progression with respect to how Graff’s transformation took place. Firstly, before delving directly subject matter, it must be understood that scholars and societal stakeholders alike oftentimes to distance intellectualism from anti-intellectualism. It is without question that there is tension and strife between these two points of view; with both intellectuals and anti-intellectuals being distrustful, spiteful, and downright cruel to one another. Lunch has with regards the way in which individuals of different classes have separated themselves, lunch in the same way that individual races have been sidelined within American society, Graff argues the fact that intellectualism has separated itself from anti-intellectualism, and vice versa, to such a degree that these two distinct groups have come to an even further level of conflict within the current world. However, these social constraints aside, it is clear and apparent that the similarity that exists between these two groups is greater than the dissimilarity that they purport to espouse (Fridlan 890). For instance, Graff represents the early childhood disagreements, arguments, and disputes that he had with fellow adolescents in his youth. Instead of serving as mindless and un-intellectual banter, as many might assume, these levels of argumentation encouraged and coaxed the stakeholders into providing a level of substantiation, facts, and representative understanding with respect to the position that they espouse. Although they most certainly did not understand it at the time, the need to substantiate their beliefs and promote a level of understanding concerning their points of view was

Accounting Assignment Example | Topics and Well Written Essays - 250 words - 16

Accounting - Assignment Example But now that he has a colleague that is hardworking and willing to go the extra mile to ensure the business is a success, he does not think twice about leaving. Barrow should renegotiate the agreement and make several changes. First of all, the 50-50 term should be changed, such that each person is paid according to the amount of work he has done or total weekly hours that he has worked. Holiday working and extra hours should also be compensated. He should also include in the agreement that each member can get a live periodically as the other member works. If Robbins still wants them to share the income on a 50-50 basis, then Barrow should also inform him that work is also to be shared equally. Barrow should notify him that he has a family too that he would like to spend time with and it would not be fair if he spends all his time and energy in the business while Robbins is busy enjoying himself. If Robbins declines these terms, then it would be plausible if Barrow worked alone as he is getting

Self-awareness and Career Management Essay Example | Topics and Well Written Essays - 2250 words

Self-awareness and Career Management - Essay Example The developments and changes in the job market is changing and the trend is expected to continue this way in the future for instance, need of a wider variety of job dealings, and communication with a wider base of people; broader abilities, greater desire and enthusiasm is required for a successful career development. The self awareness theory: this theory states that when people centre their concentration on themselves, they evaluate and make comparisons of their character and their internal values and standards. People hence become conscious of themselves as aim assessors of themselves (Boniwell 2006). Several emotional states are increased by the concept of self awareness and people may in some cases attempt to run away from this by watching television, taking drugs and/or playing games. I realize that some people get to align their behaviour with the standards and this may have a negative impact on them if they do not meet these standards. I believe that the self awareness will help me to discover my inner standards inspiration and energy to work hard and achieve my goals. The business environment today in experiencing very dynamic changes as companies are expanding, restructuring, merging, de-merging, making new acquisitions and getting globalize (Boniwell 2006). Other aspects of the government and private institutions have also been affected this factors. The job market is exciting and showing a lot of demands as well as competition. I will carry out frequent personal review since these presenting conditions make career development very complicated. I have learnt a lot of theoretical approach to dealing with these conditions from studying this course. The important techniques I have obtained have helped me a lot to develop self concept which means am more self aware and discovering my true inners self in terms of weaknesses and strengths (Boniwell 2006). Before undertaking this module I did not actually get to understand the direction I was to take, the specific career to choose or what to target in future for future developments. I only believed that I would luckily land on a job, get rich and be happy; by making me to think about what I like doing and what makes me happy in life, my inspiration, and my strengths, I feel like am in a better position to explore my potential and to know how to use it in the future developments (Inkson 2006) Knowledge is expressed as power and this is a precise when referring to some people. This also applies to the way we understand ourselves. Psychologists have referred to this as a paradox. The first paradox is the imagination that people have. This can be enlightened by analysing them as they have no boundaries. When a person is imagining, he/she can do anything in his/her thoughts including flying, climbing to the highest mountain and win very great event (Boniwell 2006) However the reality is different and people's lives are restricted by boundaries like the law, inability, beliefs among others. The second paradox is the human spirit, this is the source of inspiration to most f the human activities, motivation and the reason people can overcome their frailties (Brown & Hesketh 2004). I have discovered that the human spirit is very important in realizing self awareness as it provides us with the desire

Hillary Clinton Campaign Essay Example | Topics and Well Written Essays - 1250 words

Hillary Clinton Campaign - Essay Example An excellent writing skill must be employed for an intelligent idea could be senseless without it being well-expressed. Though base on his/her opinion, the writer must be very careful with such strong emotions or personal bias as that could be a hinder in presenting a rational explanation. Prior to writing, the author must first check his own view specially if it was from an incoherent source or was formed many years ago. Faludi, on the first part of her article had made a concise yet substantial view of the current politics in America as she creatively relates it to the gender issue using the masculine myth as she expound on Boone's "Rescue" tableau. Her struggle to convince her reader to adhere to her strong preference towards McCain has been made very obvious as she presents the facts in a very explicit manner that displays McCain's masculinity in contrast to Obama's femininity. She needs not to make a last statement her conclusion because it has been clear in every part of her text. This discrimination, however, could possibly elicit the danger of appearing so biased that the reader would not want to continue reading knowing that they would be presented with the same presentation of the same argument. She has a great tendency to persuade her audience of her perspective that were based upon agreed-upon facts and shared values between McCain supporters and Obama's detractors. Her argument would be effective in aggravating McCain's supporters' admiration towards the politician, but for those on the opposite view as well as those in the middle, the article should have been inconspicuously partial. Collins' has concisely yet completely defined his own position early in his text as he dealt with a distinct, contentious issue. He skillfully states his stance without distorting any information. This he had done by having a profound knowledge on the issue beforehand thus he managed to create a logical explanation that have the power to convince even Clinton's supporter. He quoted reliable authorities like the person of Muriel Fox who was one of National Organization for Women's founder to back-up his idea. As using the first person weakens argument (Jordan-Henley, 2008), he need not to pronounce his text using such. He had refrained from presenting any bias by pointing out the bad side, "Her campaign was messy, and it made some fatal tactical errors" (Collins, 2008) as well as the good side, "But nobody who sent her a donation could accuse her of not giving them their money's worth" (Collins, 2008) of his opposing points. Allowing this type of compromise and portrayal of justice ha d been one of his effective tactics that had surely won neural readers' approval. Speaking adeptly, his discreet words and reasonable details have the power to move skeptics. Among the three authors, Herbert was apparently the only one who had backed up his idea using a considerably acceptable source, quoting from national poll by Lifetime television as well as nonpartisan campaign. He had been very clear with his topic as he creates an actual picture of the current gender issue that U.S. was experiencing at the very moment. He's introduction had been nonetheless factual and the rest of the text was

Narrative Criticism of Gillian Welch’s “Caleb Meyer” Essay Example for Free

Narrative Criticism of Gillian Welch’s â€Å"Caleb Meyer† Essay Throughout this essay I will identify â€Å"Caleb Meyer† as a rhetorical narrative, criticize its form and function, and evaluate its effectiveness. In order to criticize â€Å"Caleb Meyer† using Rowand’s method of narrative criticism, I must first establish that it meets all of the criteria of a narrative according to Sonja Foss. The first criteria Foss requires is that the artifact contain two events. The song in fact includes multiple events, but for explanative purposes we will assign those two events as Meyer drunkenly wandering into the narrator’s yard and raping her, and the narrator slicing his throat with the broken bottle. Foss then requires that the two events in a narrative happen in a sequence of some sort, which, using the examples above, we can easily find to be true in a chronological nature. Meyer first assaults the narrator, and it is not until he does that she retaliates. Foss’s third standard for a narrative requires that the sequential events have a casual relationship. Again, using the events above, we can easily argue that without the first event (Meyer assaulting the narrator) the second event (the narrator slicing his neck with the bottle) would not have occurred, for there would have been no reason for her to retaliate against Meyer. The last criteria Foss requires is that the sequential, casual events be about a unified subject. All of the events that take place in the artifact, including those aforementioned, are about the interaction between Caleb Meyer and the narrator from the time he gets drunk and rapes her to the time she cuts his throat. Now that I have satisfied Foss’s requirements for a narrative and determined â€Å"Caleb Meyer† to be such, I am able to apply Rowand’s method of narrative criticism. According to Rowand, the main components of a narrative are the characters and their roles, the setting, the plot, and the theme. While on the surface many of these things may seem obvious to the audience, in order to discover the artifact’s rhetorical purpose it is important that we uncover more than just who, where, and why. There are two main characters in Welch’s song: the antagonist, Caleb Meyer, and the protagonist, the narrator. Caleb Meyer is established as a lonely, drunken abusive male whose purpose in the artifact is to create conflict to allow resolution (he rapes the narrator and pays the price). The narrator is a married woman whose husband has left her home alone while away on business. Her function is to tell a story and create Welch’s message. She is established as religious (prays to God and believes in Hell [Caleb Meyer your ghost is gonna wear them rattling chains]), brave, and resilient. Meyer represents the abusive, alcoholic male figure in society, while the narrator represents women who are taken advantage of and decide to put up a fight. A secondary character, Nellie Kane, is minimally important but adds to the severity of Meyer’s actions, as he is the narrator’s husband whom Meyer knows is not around to protect her. The setting in the narrative is a wooded area on a mountainside, although it is unspecific where exactly. Meyer asks the narrator if her husband has gone down the mountainside after emerging from where he lives â€Å"in them hollering pines. † This setting, including the fact that the narrator’s husband has gone to Bowling Green for work, creates a picture of a helpless, isolated woman in the woods. This forces the audience to empathize with the narrator as the antagonist attacks, knowing that there is no one to aid her after being thrown down by her hair and pinned beneath a drunken man. It is because of intrinsic humanitarian values that the audience cannot help but wish they could come to her relief, which makes the persuasiveness of Welch’s message more powerful. The plot of Welch’s song first provides that Caleb Meyer lives alone and drinks to pass the time, implying that he is an alcoholic. Lonely, he stumbles to the back of the narrator’s home and yells until she comes outside. We then hear the chorus, which consists of the narrator claiming that Meyer’s ghost will wear rattling chains, implying either that he is going to hell or that he will forever be tormented in the afterlife. Meyer then asks the narrator where her husband has gone and if he has left her alone, to which she replies that he has indeed left on business. Meyer then grabs her by the hair and pins her hands above her head as he lay across her dress, implying that he is attempting to rape her. The narrator begins to pray and finds the bottle of whiskey that Meyer had dropped, slicing his neck open as he bleeds all over her. Welch provides a fantastic crescendo into a climax, which includes a conflict and resolution in order to keep the audience engaged. The theme of â€Å"Caleb Meyer† stems directly from the plot. Meyer represents generic abusive, womanizing, and drunken men that sadly exist in society, while the narrator represents women who are imposed upon by them. Welch’s â€Å"Caleb Meyer† sends a message to women to be strong and independent, while it sends a message to men to mind their belligerence and forcefulness or there will be consequences, as seen in the death of Caleb Meyer. Another message that Welch may be trying to get across is that alcohol is wicked and leads to sinful behavior. One could even go as far as saying that her message is intended to warn men of the dangers of leaving their loved one’s side, however the supporting evidence for these two arguments are insignificant in comparison to the support for the message to women to stand against abuse. Gillian Welch’s â€Å"Caleb Meyer† not only meets all of Foss’s requirements of a narrative, but also establishes itself as a powerful narrative by persuading the audience to feel hatred and anger toward the actions of Caleb Meyer. It forces the audience to identify with the narrator, and understand that what she is experiencing is wrong. Certain audiences, women in particular, and abuse victims especially, identify greatly with Welch’s narrative because rape is the greatest fear of many women. However, men too can see the pain in the narrator’s words as Welch does a wonderful job evoking the emotions of the audience. It is because of her ability to do so that the crescendo is so effective, creating great relief when at the end of the song she sings â€Å"Then I felt his blood pour fast and hot / Around me where I laid† as the antagonist meets his rightful demise.