Ageism Reflection - 1037 Words

Ageism Reflection We all have someone in our life that is aging. There will be a big shift in our population within the next 3 years. The baby boomers are aging; between the years of 1946-1964 approximately 75 million Americans were born. (Clan, 2017) By the year of 2020 1 in 4 people will be considered older adults or over the age of 65. North Carolina, Florida, Arizona and California are states where the aging populations is choosing to retire. During Professor Lamb’s presentation, why the older population is choosing certain areas of North Carolina will have a higher population of older adults. North Carolina is a destination states due that mountains, beaches, shopping and golf courses and we also have increased and better health†¦show more content†¦I was on track to become a registered nurse and my clinical work involved working with Alzheimer’s patients. However, the training was much different compared to the training of empathy we have as social workers. The training wa s not trauma informed; I barely had time to listen to concerns of patients or showed that I cared. This is one of the main reasons why I decided to stop pursuing nursing and pursue social work. I wanted more of human interaction and positive communication based career. Besides my brief interaction with older adults in a nursing program I had no further knowledge of what to expect when someone was aging and how to emotionally and mentally care for them. I have cared for my grandfather who died of pancreatic cancer. What I wish I would have learned or known is how to cope with losing an family member that is aging and how to communicate with them family members because, that was a main barrier when caring for my grandfather. What stood out to me during Professor Lamb’s presentation; how age is a major factor in several of layoffs in a retail or technology industries. When a retail store files for bankruptcy and it’s time to rebrand they often try to attract a younger demographic and by that they begin to lay off employees who have been there for years. To sell more items and prevent bankruptcy again they try to persuade a younger population by storeShow MoreRelatedPositive and Negative Effects of Ageism Essay1041 Words   |  5 Pages Ageism, the Third Great â€Å"ism† â€Å"Ageism has been called the ultimate prejudice, the last discrimination, the cruelest rejection,† Stein (unpublished). We as a people have defeated for the most part racism and sexism, but we have allowed the third great â€Å"ism† to remain unchallenged. â€Å"This widely practiced prejudice has gone on for generations and is known as ageism,† (Palmore, Erdman, Ballagh (1999). By definition, according to Webster’s Dictionary, it is discrimination against person’s of a certainRead MoreAge Stratification1183 Words   |  5 Pagesstatus. Age stratification and ageism are very closely related; one cannot exist without the other. Age stratification separates people into three primary groups according to their age; the young, the old and the rest. Ageism is the process of systematic stereotyping or discrimination, takes over from there by being an enacted series of prejudices against a person or group based on their age, just as racism and sexis m accomplish with skin colour and gender. Ageism allows the younger generations toRead MoreThe Oldest, Wicked Problem : Reflections Of An Old Soul Essay2247 Words   |  9 PagesProblem: Reflections of an Old Soul Growing up, I never quite fit in with my peer group. This was due to a variety of factors which include, but are not limited to, my sexuality, my quirky personality, and my physical disabilities. However, one of the most impactful reasons I have related more to older people rather than my own peer group stems from what many consider to be the concept of an â€Å"old soul†. This paper will elaborate on this concept, and how it relates to my wicked problem of ageism in modernRead MoreAgeism and the Elderly2651 Words   |  11 PagesAgeism and the Elderly Decrepit, senile, over the hill, old fart or slow driver are often the words you hear when referring to â€Å"the elderly†. In 1969, Robert Butler, the first director of the National Institute on Aging was the first to use the term â€Å"ageism† to describe the stereotyping of people because of their age. The term ageism contains a negative bias or attitude toward the aging. This it a form of discrimination. While there is other ‘isms used in American society; sexism, or racismRead MoreAgeism in Healthcare6728 Words   |  27 Pagesï » ¿ Age Related Healthcare Discrimination (Ageism) in Healthcare Student Name Professor Name DHA-865 July 14, 2013 Age Related Healthcare Discrimination (Ageism) in Healthcare While the â€Å"Greatest Generation† is a title often given to those Americans who lived and died during the era of the Great Depression and World War II, their offspring, the â€Å"Baby Boom† generation, significantly shaped and improved the American landscape as well if for no greater reason thanRead MoreDis Engagement Theory And The Active Theory2072 Words   |  9 Pageswithdrawal that the process between ageing person and the social system of which they belong such as gradual withdrawal from society. However the theory viewed that this theory is positive and right way for elderly because it is an age increased reflection that helps self-decreased emotional investment in people and events. They also believe that adults isolate themselves from society and think that it will not affect them through their li9fe stages. They also believe that it is a natural processRead MoreWho Are You Calling Old? Negotiating Old Age Identity in the Elderly Consumption Ensemble Mich elle Barnhart Àà º Lisa Penaloza18943 Words   |  76 Pagesthe interview. Interviews were concluded with informants’ reï ¬â€šections on what it means to be old and their own aging. Interviews with paid caregivers and family members differed slightly in that initial questions established their relationship to the older person, the age of the older person, and their understanding of the older person’s physical and cognitive condition. At the end of the interview, informants were asked for their reï ¬â€šections on being a caregiver. Interviews were audio recorded andRead MoreAgeism Is Defined By The World Health Organization Essay1410 Words   |  6 PagesAgeism is defined by the World Health Organization (2012) as discrimination against and stereotyping of an individual or group of people base on their age, it is commonly found in older people. The older people has been labeled as mentally slow, physically weak, helpless and â€Å"past by their due date.† These attitudes held against the older people restrict them in participating in any form of social, economic, and cultural activities. This paper will evaluate a scenario where ageism arose in the careRead MoreIs Ageism Against The Older People Could Potentially Be Reversed Through The Participation Of A Lifespan Human Development Course1620 Words   |  7 Pagesnegative attitudes towards older people could potentially be reversed through the participation in a Lifespan Human Development Course. 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Cost of Capital, Capital Budgeting and Financial Planning Free Essays

string(32) " premium is estimated to be 6%\." Assignment| Cost of Capital, Capital Budgeting and Financial Planning| Chapter(s)| 9, 10, 12| Group Name| | Student Name(s)| | Date| | Instructions: HW Assignments will be uploaded to Kean Blackboard and must be accessed from there. You must work in groups where assigned (or independently if not assigned to groups) on homework assignments. Points are noted against each question. We will write a custom essay sample on Cost of Capital, Capital Budgeting and Financial Planning or any similar topic only for you Order Now You are required to submit Home Work assignments electronically on Kean Blackboard using MS-Office or other text editor. You are required to complete your assignments as per the due date indicated by the Professor. Total Points in Assignment: 100 (Points scored will be scaled down to a maximum of 15 towards the final grade) Assignment: Part I: Cost of Capital During the last few years, Harry Davis Industries has been too constrained by the high cost of capital to make many capital investments. Recently, though, capital costs have been declining, and the company has decided to look seriously at a major expansion program that has been proposed by the marketing department. Assume that you are an assistant to Leigh Jones, the financial vice-president. Your first task is to estimate Harry Davis’s cost of capital. Financial Statements iframe class="wp-embedded-content" sandbox="allow-scripts" security="restricted" style="position: absolute; clip: rect(1px, 1px, 1px, 1px);" src="https://phdessay.com/financial-statements-2/embed/#?secret=vw3HS70LFw" data-secret="vw3HS70LFw" width="500" height="282" title="#8220;Financial Statements#8221; #8212; Free Essays - PhDessay.com" frameborder="0" marginwidth="0" marginheight="0" scrolling="no"/iframe Jones has provided you with the following data, which she believes may be relevant to your task: a) The firm’s tax rate is 40%. b) The current price of Harry Davis’s 12% coupon, semiannual payment, noncallable bonds with 15 years remaining to maturity is $1,153. 72. Harry Davis does not use short-term interest-bearing debt on a permanent basis. New bonds would be privately placed with no flotation cost. c) The current price of the firm’s 10%, $100 par value, quarterly dividend, perpetual preferred stock is $116. 95. Harry Davis would incur flotation costs equal to 5% of the proceeds on a new issue. ) Harry Davis’s common stock is currently selling at $50 per share. Its last dividend (D0) was $3. 12, and dividends are expected to grow at a constant rate of 5. 8% in the foreseeable future. Harry Davis’s beta is 1. 2; the yield on T-bonds is 5. 6%; and the market risk premium is estimated to be 6%. You read "Cost of Capital, Capital Budgeting and Finan cial Planning" in category "Papers" For the over-own-bond-yield-plus-judgmental-risk-premium approach, the firm uses a 3. 2%judgmental risk premium. e) Harry Davis’s target capital structure is 30% long-term debt, 10% preferred stock, and 60%common equity. To help you structure the task, Leigh Jones has asked you to answer the following questions. . What sources of capital should be included when you estimate Harry Davis’s weighted average cost of capital (WACC)? Should the component costs be figured on a before-tax or an after-tax basis? Should the costs be historical (embedded) costs or new (marginal) costs? (5 points) Sources of capital to be included to estimate WACC are * Long term debt – to be considered after tax * Preferred stock – to be considered before tax ( preferred stock is not tax deductible) * Common equity – to be considered before tax When it comes to corporate financing, most firms incorporate tax effects in the cost of capital. For this reason, component costs should be calculated on an after-tax basis. In financial management the WACC is used primarily to make investment decisions and these decisions hinge on projects expected future returns versus the cost of new or marginal capital that will be used to finance these projects. Thus the relevant cost it marginal cost of new debt to be raised during the planning period 2. What is the market interest rate on Harry Davis’s debt, and what is the component cost of this debt for WACC purposes? (3 points) Pre -Tax cost of Debt is the YTM in the case of a Bond. The current price of Harry Davis’s 12% coupon, semiannual payment, noncallable bonds with 15 years remaining to maturity is $1,153. 72. We used the RATE function in Excel to calculate the YTM: n| 30| PV| -1153. 72| pmt| 60| FV| 1000| Rate (i)| 5%| =RATE(30,60,-1153. 72,1000) = 5% Since this is a semiannual rate, we multiplied by 2 to find the annual rate, which is the pre-tax cost of debt. 5% x 2 = 10% = rd After tax component cost of debt = Interest Rate – Tax Savings = rd – rdT We calculated that the rd is 10%, and it is stated above that the tax rate is 40%. rd(1 – T) = 10. %(1 – 0. 40) = 10. 0%(0. 60) = 6. 0 = 6% component cost of debt, which is the after-tax cost of debt. 3. What is the firm’s cost of preferred stock? (3 points) The current price of the firm’s 10%, $100 par value, quarterly dividend, perpetual preferred stock is $116. 95. Harry Davis would incur flotation costs equal to 5% of the proceeds on a new issue. The cost of preferred stock is simply the preferred dividend divided by the price the company will receive if it issues new preferred stock. No tax adjustment is necessary, as preferred dividends are not tax deductible. Dps is the Preferred dividend = . 10($100) = $10 Pps is the preferred stock price = $116. 95 F is the flotation cost as a percentage of proceeds = 5% rps = Dps / Pps(1-F) = $10 / 111. 10 = 0. 09 = 9% cost of preferred stock 4. Would you expect Harry Davis’s preferred stock to be more riskier or less riskier to investors than its debt? Compare the preferred stock yield to the yield to maturity on the debt and explain the risk/return trade-off between preferred stock and debt from an investor’s point of view. (3 points) Preferred stocks are riskier to investors than debt. Corporations own most preferred stock, because 70% of preferred dividends are non-taxable to corporations. Therefore, preferred stock often has a lower before-tax yield than the before-tax yield on debt. But, the after-tax costs to the issuer are higher on preferred stock than debt. This is consistent with the higher risks of preferred stock. 5. Harry Davis doesn’t plan to issue new shares of common stock. Using the CAPM approach, what is Harry Davis’s estimated cost of equity? (2 points) Harry Davis’s beta is 1. 2; the yield on T-bonds is 5. 6%; and the market risk premium is estimated to be 6%. Risk-free rate: 5. 6% Market risk premium: 6% Beta: 1. 2 rs = Risk-free rate + (Market risk premium) (Beta) rs = rRF + (RPM) bi rs = . 056 + (. 06)(1. 2) = 0. 128 = 12. 8% estimated cost of equity using CAPM approach 6. What is the estimated cost of equity using the discounted cash flow (DCF) approach? (2 points) Harry Davis’s common stock is currently selling at $50 per share. Its last dividend (D0) was $3. 12, and dividends are expected to grow at a constant rate of 5. 8% in the foreseeable future. P0 = $50 D0 = $3. 12 g = 5. 8% D1 = $3. 30 rs = D1/P0 + g D1= D0(1+g)= $3. 12(1+. 058) = $3. 30 s = ($3. 30/$50)+5. 8% = 6. 6% +5. 8% = 12. 4% estimated cost of equity using DCF approach 7. Suppose the firm has historically earned 15% on equity (ROE) and retained 62% of earnings, and investors expect this situation to continue in the future. How could you use this information to estimate the future dividend growth rate, and what growth rate would you get? Is this consistent with t he 5. 8% growth rate provided by Jones? (2 points) Payout rate = 100% – 62% = 38% ROE = 15% Growth from earnings retention model: g = (Retention rate)(ROE) g = (1 – Payout rate)(ROE) g = (1 – 0. 38)(15%) = 9. %. Using the Earnings Retention Model, the estimated future dividend growth rate is 9. 3%, which is almost twice the growth rate provided by Jones, and hence inconsistent. Note that the earning retention model assumes the retention and payout rate will remain constant, as will the ROE on new investments. Under these assumptions, the earnings growth and dividends growth rate will also be constant. 8. What is the cost of equity based on the bond-yield-plus-judgmental-risk-premium method? (2 points) For the over-own-bond-yield-plus-judgmental-risk-premium approach, the firm uses a 3. %judgmental risk premium. We calculated earlier that the company’s bond yield is 10%. rs= rd + Judgmental risk premium rs= 10. 0% + 3. 2% = 13. 2% cost of equity based on b ond-yield-plus-judgmental-risk-premium method 9. What is your final estimate for the cost of equity, rs? (2 points) CAPMrs = 12. 8% DCF rs= 12. 4% Bond-yield-plus-judgmental-risk-premium risk rs = 13. 2% Average rs= 12. 8% Final estimate for the cost of equity, rs = 12. 8% 10. What is Harry Davis’s weighted average cost of capital (WACC)? (2 points) The firm’s tax rate is 40%. Harry Davis’s target capital structure is 30% long-term debt, 10% preferred stock, and 60%common equity. We calculated earlier that the pre-tax cost of debt, rd is 10%, the cost of preferred stock, rps is 9% and the cost of equity, rs is 12. 8%. Wd = 30% rd = 10% T = 40% Wps = 10% rps = 9% Ws = 60% rs = 12. 8% WACC= wdrd(1 – T) + wpsrps + wsrs WACC= 0. 30(. 10)(1 ? 0. 40) + 0. 10(. 09) + 0. 60(. 128) = . 1038 = 10. 38% weighted average cost of capital 11. What four common mistakes in estimating the WACC should Harry Davis avoid? (2 points) Four common mistakes that are to be avoided are 1. Using current cost of debt (instead of historical cost of debt) 2. Mixing current and historical measures to calculate MRP 3. Using book weights to estimate the weight for capital structure (instead of market weights) 4. Misidentifying the capital component sources Part II: Capital Budgeting You have just graduated from the MBA program of a large university, and one of your favorite courses was â€Å"Today’s Entrepreneurs. † In fact, you enjoyed it so much you have decided you want to â€Å"be your own boss. † While you were in the master’s program, your grandfather died and left you $1 million to do with as you please. You are not an inventor and you do not have a trade skill that you can market; however, you have decided that you would like to purchase at least one established franchise in the fast-foods area, maybe two (if profitable). The problem is that you have never been one to stay with any project for too long, so you figure that your time frame is three years. After three years you will sell off your investment and go on to something else. You have narrowed your selection down to two choices; (1) Franchise L, Lisa’s Soups, Salads, ; Stuff and (2) Franchise S, Sam’s Fabulous Fried Chicken. The net cash flows shown below include the price you would receive for selling the franchise in Year 3 and the forecast of how each franchise will do over the three-year period. Franchise L’s cash flows will start off slowly but will increase rather quickly as people become more health conscious, while Franchise S’s cash flows will start off high but will trail off as other chicken competitors enter the marketplace and as people become more health conscious and avoid fried foods. Franchise L serves breakfast and lunch, while Franchise S serves only dinner, so it is possible for you to invest in both franchises. You see these franchises as perfect complements to one another: You could attract both the lunch and dinner crowds and the health conscious and not so health conscious crowds without the franchises directly competing against one another. Here are the net cash flows (in thousands of dollars): Depreciation, salvage values, net working capital requirements, and tax effects are all included in these cash flows. You also have made subjective risk assessments of each franchise, and concluded that both franchises have risk characteristics that require a return of 10%. You must now determine whether one or both of the franchises should be accepted. . What is the difference between independent and mutually exclusive projects? (2 points) Independent projects are those projects whose cash flows are not affected by other projects. If Costco is considering opening a new store in Los Angeles and another one in New York, they would be independent. Mutually exclusive projects are two different metho ds of attaining the same result. If one is accepted the other would be rejected. If Costco were considering relocating its corporate headquarters to Los Angeles or New York, only one of the 2 locations will be selected thus rejecting the alternate location. When projects are mutually exclusive, it means they do the same job or have the same purpose. 2. Define the term net present value (NPV). What is each franchise’s NPV? (4 points) Net Present Value is defined as the present value of project’s cash inflows minus the present value of its costs. It tells us how the project contributes to shareholder wealth. The larger the NPV the more value the project adds and thus the higher the stock price. NPV = CF0 + CF1/ (1+r)1 + CF2/(1+r)2 + CF3/(1+r)3†¦.. + CFN/(1+r)N r = 10% Franchise L CF0L = -100 CF1L = 10 CF2L = 60 CF3L = 80 NPVL= CF0L + CF1L/ (1+r)1 + CF2L/(1+r)2 + CF3L/(1+r)3 = -100 +10/(1+. 10)1 + 60/(1. 10)2 + 80/(1. 10)3 = -100 + 9. 09 + 49. 59 + 60. 11 = $18. 79 Franchise S CF0S = -100 CF1S = 70 CF2S = 50 CF3S = 20 NPVS= CF0S + CF1S/ (1+r)1 + CF2S/(1+r)2 + CF3S/(1+r)3 = -100 +70/(1+. 10)1 + 50/(1. 10)2 + 20/(1. 10)3 = -100 + 63. 64 + 41. 32 + 15. 03 = $19. 99 3. What is the rationale behind the NPV method? According to NPV, which franchise or franchises should be accepted if they are independent? Mutually exclusive? How would the NPVs change if the cost of capital changed? (4 points) NPV is generally regarded as the best single screening criterion, primarily because it is directly related to the firm’s central goal of maximizing the stock’s intrinsic value. NPV tells us how the project contributes to shareholder wealth. The larger the NPV the more value the project adds and thus the higher the stock price. A negative NPV indicates sufficient cash is not being generated from the project to meet cost associated with the project. Zero NPV indicates that cash generated is only sufficient to cover costs. Positive NPV on the other hand indicates that the inflow of cash is larger than the outflow. NPV rules dictate that if projects are independent, both projects should be accepted as long as they have a positive NPV. In this case both Franchise S ; L have positive NPV’s and should be accepted. If projects are mutually exclusive, then the project with the larger NPV should be selected. In this case, Franchise S has a higher NPV indicating that the returns from investing in Franchise S is larger and thus Franchise S should be selected. 4. Define the term internal rate of return (IRR). What is each franchise’s IRR? (4 points) IRR is the discount rate that forces the PV of the inflow of a project to equal the initial cost. In other words it forces the NPV to be zero. IRR is an estimate of the projects rate of return and it is comparable to the YTM on a bond. NPV = CF0 + CF1/ (1+IRR)1 + CF2/(1+IRR)2 + CF3/(1+IRR)3†¦.. + CFN/(1+IRR)N = 0 Using Excel function IRR | Expected | | net cash flows | Year (t)| Franchise L| Franchise S| 0 | ($100)| ($100)| 1 | 10 | 70 | 2 | 60 | 50 | 3 | 80 | 20 | IRR| 18. 13%| 23. 56%| IRRL = 18. 13% IRRS = 23. 56% 5. What is the logic behind the IRR method? According to IRR, which franchises should be accepted if they are independent? Mutually exclusive? How would the IRRs change if cost of capital changed? 4 points) IRR is an estimate of a projects rate of return. If the return exceeds the cost of funds used to finance the project, then the difference is a bonus that goes to the firm’s stockholders and causes the stock price to rise. So if the WACC/hurdle rate(r) is less than the estimated return IRR, it indicates project will be profitable. As in NPV where zero i s the threshold above which the project is considered profitable, r is the threshold above which IRR is considered profitable In the condition where Franchise S and L are independent, both franchises have positive IRR’s and thus both franchises should be accepted. However, when both franchises are mutually exclusive, the franchise with the larger IRR has to be selected, which in this case Franchise S. 6. Construct NPV profiles for Franchises L and S. At what discount rate do the profiles cross? From the NPV profile which franchise or franchises should be accepted if they are independent? Mutually exclusive? Explain. (6 points) NPV Profile for Franchise S ; LCost of Capital = 10%| | Year =| 0| 1| 2| 3| Project S| -100. 00| 70| 50| 20| Project L| -100. 00| 10| 60| 80| | | | | | | r| NPVS| NPVL| | | 0%| $40. 00| $50. 00| | | 5%| $29. 29| $33. 05| | 8. 68%| $22. 32| $22. 32| | | 10%| $19. 98| $18. 78| | | 15%| $11. 83| $6. 67| | | 18. 126%| $7. 23| $0. 00| | | 20%| $4. 63| -$3. 70| | | 23. 564%| $0. 00| -$10. 20| | On this plot the X Axis is the cost of capital and the Y axis is the NPV. IRR is the discount rate at which profile line crosses the X axis. Profiles crossover at an 8. 68% cost of capital. Based on the plot, the NPV for both Franchise S and Franchise L have NPV’s above the cost of capital indicating cash inflow is larger than the costs and thus both projects should be selected if they are independent of each other. On the other hand, if the projects are mutually exclusive, the project with the larger x-intercept (higher IRR), which is Franchise S, should be accepted. 7. What is the underlying cause of ranking conflicts between NPV and IRR? (3 points) Ranking conflicts occur when cost of Capital is higher than crossover rate which causes NPV and IRR to point in different directions. The two basic conditions that cause these conflicts are * Timing difference: When one project receives majority of the cash early while the other receives it later. This is the reason for conflict between Franchise S ; Franchise L * Project size (scale) difference: Significant difference in invested amount can cause a conflict When either timing or size differences occur, the firm will have different amounts of funds to invest in other projects depending on which of the two mutually exclusive projects it chooses. Given this situation, the rate of return at which differential cash flows can be reinvested is a critical issue. Therefore, whenever conflict exists between mutually exclusive projects, NPV method is better to use. 8. What is the â€Å"reinvestment rate assumption,† and how does it affect the NPV versus IRR conflict? (3 points) NPV calculation is based on the assumption that cash inflows can be reinvested at the projects risk adjusted WACC, whereas the IRR calculation is based on the assumption that cash inflows can be reinvested at the IRR itself. Since NPV assumes reinvestment at cost of capital which is more realistic and is typically lower than the IRR (cash flows generally cannot be reinvested at heir IRR), so NPV is the more reasonable method. NPV should be used to choose between mutually exclusive projects. . Define the term modified IRR (MIRR). Find the MIRRs for Franchises L and S. (4 points) IRR overstates the expected rate of return for accepted projects because cash flows cannot be reinvested at the IRR. The Modified IRR (MIRR) rectifies this problem by assuming reinvestment at the WACC or any other reasonable rate. Using excel function MIRR, we calculated the MIRR for Franchise L and S. WACC| 10%| | | | year| 1| 1| 2| 3| Franchise L| ($100)| 10| 60| 80| Franchise S| ($100)| 70| 50| 20| | | | | | MIRRL| 16. 50%| | | | MIRRS| 16. 89%| | | | 10. What are the MIRR’s advantages and disadvantages vis-a-vis the regular IRR? What are the MIRR’s advantages and disadvantages vis-a-vis the NPV? (4 points) MIRR has two significant advantages over IRR. First, MIRR assumes reinvestments at cost of capital rather than investment at IRR which is generally not correct. Thus, MIRR is usually a better indicator of profitability. In addition, the MIRR eliminates the multiple IRR problem because there can never be more than one MIRR, and it can be compared with the cost of capital when deciding on accepting or rejecting projects. MIRR does not always lead to the same decision as NPV in the case of mutually exclusive projects where difference in size and timing can give rise to conflicts. In these considerations, NPV is a better indicator as it selects the project that maximizes value. However, MIRR is superior to the regular IRR as an indicator of a project’s â€Å"true† rate of return. Part III: Forecasting Financial Statements Matthews Industries’ most recent financial statements are available in the attached Excel worksheet and also in the partial model file Ch12 P11 Build a Model. xls from the textbook’s web site. Matthews Industries’ financial planners must forecast the company’s financial results for the coming year. The forecast will be based on the forecasted financial statements method, and any additional funds needed will be obtained by using notes payable. Complete the partial model and answer the following questions. 1. Assume that the firm’s 2010 profit margin, payout ratio, capital intensity ratio, and spontaneous liabilities to sales ratio remain constant. If sales grow by 10% in 2011, what is the required external capital the firm will need in 2011 as calculated by the AFN equation? 10 points) AFNMatthews =| Add’l Req’d Assets| ? | Spontaneous liabilities| ? | Add’n to RE| =| (A0*/S0)? S | ? | (L0*/S0)? S | ? | S1 ? M ? (1–POR)|   | | | | | |   | =| (A0*/S0)(gS0) | ? | (L0*/S0)(gS0) | ? | S1 ? M ? (1–POR)|   | | | | | |   | =| $660| ? | $74. 70| ? | $257. 73|   | | | | | |   | AFNMatthews =| $327. 27| million|    |   |   |   | The required external capital for 2011 as calculated by AFN is 327. 27 Million. 2. If 2010 ratios remain constant, what is Matthews’ self-supporting growth rate? How will the self-supporting growth rate change if each of the following changes occur: (1) the profit margin declines, (2) the payout ratio increases, or (3) the capital intensity ratio declines? (10 points) | PM(1 – POR)(S0)| $234. 30|   | Self-supporting g =| =| | = 4. 17%| | A0* – L0* – PM(1 – POR)S0| $5,615. 70|   | Mathew’s self-supporting growth is calculated to be 4. 17%. Effect on Self-Supporting growth when all ratios are kept constant except one ratio is changed as follows 1) When the profit margin declines, the self-supporting growth percentage drops. Assuming that everything else is constant and M falls to 2. 55%, self-supporting growth g would fall to 2. 96% 2) When Payout-ratio increases, self-supporting growth percentage drops. Assuming that everything else is constant and POR increases to 55%, self-supporting growth g would fall to 3. 39% 3) When capital intensity ratio (A0*/S0) declines, it does not change the self-supporting growth 3. Matthews’ management has reviewed its financial statements and arrived at two possible scenarios for 2011. The first scenario assumes a steady state while the second scenario, the target scenario, shows some improvement in ratios toward industry-average values. Forecasted values for the scenarios are shown in the partially completed file Ch12 P11 Build a Model. xls. If Matthews assumes that external financing is achieved through notes payable and financing feedbacks are not considered because the new notes payable are added at the end of the year, what are the firm’s forecasted AFN, EPS, DPS, and year-end stock price under each scenario? (14 points) Using the file Chapter 12P11 Build a Model. ls, forecasted values for scenarios are as follows: Forecasted Values| Steady State| Target State| AFN| $324. 40 Million| -332. 50 Million| EPS| $3. 16| $5. 66| DPS| $1. 42| $2. 41| Year-end Stock Price| $25. 27| $70. 79| See excel file submitted separately for detailed calculations on Part III. Scoring Sheet: Question #| Max Points| Points scored| Part I| | | 1| 5| | 2| 3| | 3| 3| | 4| 3| | 5 | 2| | 6| 2| | 7| 2| | 8| 2| | 9| 2| | 10| 2| | 11| 2| | Part II| | | 1| 2| | 2| 4| | 3| 4| | 4| 4| | 5| 4| | 6| 6| | 7| 3| | 8| 3| | 9| 4| | 10| 4| | Part III| | | 1| 10| | 2| 10| | 3| 14| | TOTAL| 100| | | | | Points towards final grade| 15| | How to cite Cost of Capital, Capital Budgeting and Financial Planning, Papers

Inspiration At Its Best free essay sample

Before tenth grade it seemed like everyday I dealt with a new issue, whether formed in my household or in school.Nothing ever seemed to go right.In tenth grade I met this guy named Briggs.I did not know much about him nor his story.On a Thursday, Briggs slowly started to approach me, while glaring into my eyes.He then was standing right in front of me.Briggs then looked up to me and stuck his hand out.â€Å"Hi, my name is Briggs.What is your name?†I paused for a second.â€Å"Chris, nice to meet you.†Briggs and I started hanging out with each other and begun to grow closer.A few weeks passed of growing closer, Briggs and I then soon realized we would be best friends until the day we die, this then resulted in us sharing about our issues and difficulties.One day Briggs just came out and said, very hesitantly. We will write a custom essay sample on Inspiration At Its Best or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page â€Å"Chris I have a severe immune deficiency.Its where I have no immune system, unlike you.I can get severely sick really easy.†Briggs paused†¦Ã¢â‚¬Å"My brother, Tyler, passed away from it also.†I then thought to myself†¦Ã¢â‚¬Å"†I’m going to sound stupid if I tell him what I’m dealing with, and I take my siblings for granted.What am I thinking†¦?†Ã¢â‚¬Å"Briggs†, I said.â€Å"I love you.You are a warrior and have fought like nobodys business.I love you.†At the end of last school year, as far as I can remember the doctors admitted him in and out of Cooks Childrens Hospital, it seemed every other day, to give blood test, chemo, and other test done on him.Doctors continued to look for a bone marrow donor for well over a year.On Wednesday, August 26, 2014 Briggs became very ill and the doctors did not think him living through the night is a possibility.Everyone had gone up to the hospital, talked to him, as well as prayed for him.The next couple days, after seeing him and praying for him, he suddenly started to do much better.For instance, moving his legs, mouthing words, and moving his arms.Briggs inspired me in so many different ways.When I saw him on that Wednesday night, I had so many emotional tears rolling down my face.Seeing him in so much pain made me absolutely distraught, but it showed me how strong he was.Briggs fought to lead a normal life just like the rest of us.It showed me to never give up on anything, no matter what the situation might be, but he is going through a lot more pain than anyone could possibly imagine just to see the light at the end of HIS tunnel.This made me realize that my problems are not as big as his are and nor will they ever be.Briggs showed not only me, but everyone else that was there that night that he is not only a fighter but he is an almighty warrior with a will to fight against anything that steps in front of him with a personality and heart bigger than li fe itself.

Communication and Distributed Resources †Free Samples to Students

Question: Discuss about the Communication and Distributed Resources. Answer: Introduction Power blackout has been a phenomenon witnessed in South Australia State with more focus on its implications on the life of South Australians. Power failure is a serious problem that left many citizens counting losses prompting government intervention. System engineering problem is contributed to a number of factors that point to the interplay of these factors. Some of these factors include energy source problems, power generation, power transmission problems and human or political factors. The interplay of these factors is a major contributing factor to the instability of power coupled with blackouts and failures to restart these power systems. The challenge that current power system poses to South Australian government is the recipe for finding a long-lasting solution to the energy problem. The only viable alternative energy is the introduction of a greener cheaper and stable energy solution into the South Australian energy network. The following paper explores the system engineerin g problems for the SA State power problem and finding greener cheaper and stable energy solution. System engineering problem that results in the power issue in South Australia State can be traced to many interlinked factors. These factors include a power source, power generation, transmission and human or political factors. A critical understanding of these factors sheds more light on the system engineering problems that contribute to a power issue in South Australia State. Wind power source though plays a significant role in green energy used in the South Australia State. Wind power has unstable transmission challenges due to its frequency when under different wind frequency. This is quite challenging when it comes to connecting most of wind power lines to the main grid. In terms of connectivity, wind as a source of power poses challenges to the interconnector due to these irregular transmissions of power from wind farms. The challenge has contributed to frequent trips or shutdowns that are reported through Australian Energy Market Operator. In addition, various generator failures also contribute to the power problems that are experienced in the South Australia state. For instance, failure of Mintaro emergency diesel generator once contributed to the massive electricity failure. The effort to revive this generator failed as it was damaged by storm (Sykes, Adamiak Brunello 2006, pp. 145-158). Power generation as system engineering problem Nearly 40% of the electricity used within the South Australia state is generated from wind power. Wind power energy is prone to system engineering problems that are a cursive factor for power issue. Interconnecting the wind power into the grid is a couple with engineering challenges such as the need for back up by baseload power for days when the wind to generate power is not available. In addition, wind power requires perfect harmony of 50 cycles (50 hertz) every second day for the supply and demand operation (Weber 2016, pp 1-5). When the frequency gets beyond the tune the connectors trips the shutdown switch. This is because the wind power is asynchronous its frequency fluctuates in response to the winds. Reduction in the power generated has also been realized within the power network especially within the power generation stations. The inability of some power generators to restart due to lower power, this was seen in the case of Torrens Island power station which needed enough po wer from Victoria interconnectors (Verzosa 2011). The system engineering issues are also witnessed in the transmission of power that is coupled with many interconnectors. One of the transmission power problems that highly result in the power outage is the instability of power connectors. The instability of these interconnectors makes the addition of the South Australia power to the electricity network difficult to stabilize the power frequency on the network (Waldhuter 2016, pp 23). For instance, during one of the power blackout, many different interconnectors switched off though some were immediately switched on before the power failure. The report by Australian Energy Market Operator indicates that the first interconnector switch-off was realized near Adelaide though it was later automatically reset. The second switch-off was between Brinkworth and Templars which was followed by Davenport Belalie line, this line was reset and tripped some nine seconds later. At the point of these interconnector trips, Hallet Wind Farm reduced its power output by 123 MW followed by a massive fault that saw 257kV transmission line fails. At the end of the fault, nearly nine wind power farms shutdown casting doubt on the capacity of these power farms. Furthermore, most of the power farms reduced their power output causing irregular transmission and subsequently interconnectors tripped (Fischer et al 2012, pp1). Human and political factors also contribute to system engineering failure that has highly contributed to a power failure in South Australia State. Firstly, human errors and failure to inspect the system contributes to the power issue. It reported that there are continuous reductions of wind power output that can be attributed to human errors. Secondly, political factors such as licensing of supplier firms also contributed to power failures resulting in power blackouts. AEMO signed contracts with different companies to supply various systems some which failure or damaged raising the credibility concerns of these firms (Weber 2016, pp 1). For instance, AEMO signed a contract with system restart ancillary service to restart the network yet it did not due to its location within the power network. This was after Mintaro Emergency Diesel generator was severely damaged by the storms experienced in the country. Conclusively, power failures can also be attributed to power licensing and select ion of energy equipment suppliers in the country. The political class of Australia lead by the prime minister who indicated the massive failure of wind power farms (Bourke Koziol 2016, pp 1). Storms and weather is another factor that contributes to power problems witnessed in South Australia State. Frequent storms and bad weather that destroy grid are critical factors that have to lead to failure of the system (Edwards, Puddy Owen 2016). This is causing massive system engineering challenges as the storms sometimes destroy important power generators. Moreover, weather changes especially wind direction and fluctuation of breeze affects the wind power generation which forms 40% of power in South Australia State. Political interference on the power generation stations is another important issue as was the case of one failure (Courier Mail 2013). Greener stable and cheaper energy is an important solution for the power issue that has been experienced in South Australia State. Finding greener stable cheaper energy solutions entails many different factors that need to interplay. Firstly, development of energy regulations and policies is an important factor for consideration. To find a greener stable and cheap energy solution requires establishing policies by the government that will help set energy policies such as cheap energy sources. In addition, policies need to open ground for establishing of energy suppliers that will be ready to offer cheaper energy at a cheaper price. Greener energy solution should factor in the need for renewable and cleaner energy source. The energy solution should be stable with minimal power failures as compared to the current power system. Energy regulations should give the greener companies opportunity and capacity to provide energy without any restriction. The regulation should also change the nat ional electricity market given its fragility and need to bring other greener energy solutions such as solar power (Tziouvaras 2007, pp. 251-270). Stakeholders contribution to greener energy solution The government regulation on greener energy solution should consider those companies that are providing greener energy first. Empowering companies which are the major stakeholders in the energy system is important for an energy solution. This implies that those companies that are already venturing into greener energy should be allowed to provide the energy to their full capacity without any political interference. The progress of this company will give the direction on other companies that can also be allowed to provide greener energy within South Australia. Energy licensing agency, therefore, an important role in ensuring current greener companies is given the opportunity to supply power. Moreover, the strategy gives priority to a first company that is already providing greener energy before allowing the second company to come in and provide energy (Renew Economy 2016). Greener energy needs to be stable, cheaper and compliment the current source of energy that is characterized by system failures. Firstly, with the current high energy bills that are affecting most Australians, there is a need for a cheaper greener energy solution. Cheaper energy sources need to have low pollution and complies with the current green energy regulations. Secondly, greener energy solution needs to be stable with the ability to reduce power outages as compared to the current energy source used in South Australia State. A greener energy needs to be developed in a way that has minimal transmission challenges in order to maintain stability throughout the year. Thirdly, greener energy allows interconnectivity with other energy networks without compromising the stability of the network. The connection of a greener energy source to the current energy system can allow usage of energy mix which is stable and cheaper as compared to other sources of energy (Climate Council 2016). Example of the greener energy solution One example of greener stable and cheaper energy solution is the solar power energy solutions. Solar power has been shown to be one of the greener energy sources due to its renewable nature. Solar power energy has a continuous power supply, especially when connected with a suitable battery capable of storing power for a long time. Solar power energy solutions have proved to be cheaper as compared to other energy sources that require maintenance cost for continuous power supply. The stability of the solar energy rests on it continuous supply and lack of interconnectors required to make the transmission lines. It only takes a supply of solar components that are provided to households. For instance, the Virtual Power Plant that is currently under trial in South Australia. The solar energy system consists of a 5Kw solar panel and 1.3kWh Tesla Powerwall 2 battery supplied to each household. This greener energy is cheaper and estimated to cost a bill of 30% lower as compared to current ele ctricity bill in South Australia (Heniche, Kamwa Dobrescu 2013, pp. 1-5.143 ). Conclusion In conclusion, massive power blackout experienced in South Australia is attributed to several factors. Some of these factors include power generation problems, energy sources issue, power transmission issue, physical factors and human or political factors. The interplay of these factors result in faulty transmission and subsequent power shutdown or power blackouts experienced. To help find a lasting solution to these challenges finding a greener cheaper and stable energy solution is the best alternative. This, therefore, necessitate the need for energy regulations that allow those current companies that offer greener energy to provide energy in full capacity before introducing other companies. References Bourke, L. Koziol, M. (2016) Minister Josh Frydenberg, senator Nick Xenophon question renewable in wake of South Australia blackout. Sydney Morning Herald. Available at: https://www.smh.com.au/federal-politics/political-news/energy-minister-josh-frydenberg-says-south-australia-blackout-raises-questions-about-renewables-20160928-grques.html [Accessed on 30 September 2016] Climate Council (2016) Myth busting: electricity prices in South Australia. Stock A and Stock P. Available at: https://www.climatecouncil.org.au/uploads/e993194468726947cbd7c4f7216a2316.pdf Courier Mail, (2013) Almost 250,000 homes without power as weather hits SEQ electricity grid. Available at https://www.couriermail.com.au/news/almost250000homeswithoutpowerasweatherhitsseqelectricitygrid/storye6freon61226563631914 [Accessed on January 28, 2013] Edwards, V.; Puddy, R. Owen, M. (2016) Storm leaves SA without power, heads to NSW, Victoria, Tasmania. The Australian. Available at: https://www.theaustralian.com.au/national-affairs/state-politics/cyclonic-storm-plunges-south-australia-into-the-dark-ages/news-story/480dadb0440519a433b7631b7de1e293 [Accessed on 30 September 2016] Fischer, G. et al, (2012) Tutorial on Power Swing Blocking and Out-of-step Tripping, presented at 39th Annual Western Protective Relay Conference, October, available at https://cdn.selinc.com/assets/Literature/Publications/Technical%20Papers/6577_TutorialPower_JBF_20120911_Web.pdf?v=20151125-094320 Heniche, A. Kamwa I. Dobrescu, M. (2013) Hydro-Qubec's defense plan: Present and future, 2013 IEEE Power Energy Society General Meeting, Vancouver, BC, pp. 1-5.143 Renew Economy, (2016) SA Blackout may lead to more batteries and microgrids. Available at: https://reneweconomy.com.au/2016/sablackoutmayleadtomorebatteriesandmicrogrids-67618 SA Power Networks, (2016) Power Outages. Available at: https://outage.apps.sapowernetworks.com.au/OutageReport/OutageSearch?AspxAutoDetectCookieSupport=1 Sykes, J., Adamiak M. Brunello, G. (2006) Implementation and Operational Experience of a Wide Area Special Protection Scheme on the SRP System, 2006 Power Systems Advanced Metering, Protection, Control, Communication, and Distributed Resources, Clemson, SC, pp. 145-158 Tziouvaras, D. (2007) Relay Performance During Major System Disturbances, presented at 60th Annual Conference for Protective Relay Engineers, pp. 251-270, available at https://ieeexplore.ieee.org/document/4201100/ Verzosa, Q. (2011) Realistic Testing of Power Swing Blocking and Out-of-Step Tripping Functions, Proceedings of the 38th Annual Western Protective Relay Conference, Spokane, WA, October. Waldhuter, L. (2016) SA weather: Worsening conditions cause more blackouts as BOM warns of more storms. ABC News. Available at https://www.abc.net.au/news/2016-09-29/worsening-conditions-cause-more-blackouts-across-sa/7887020 [Accessed on 29 September 2016] Weber, D. (2016) Western Australia sends transmission towers to storm-affected SA. Australian Broadcasting Corporation. ABC News. Available at: https://www.abc.net.au/news/2016-09-29/wa-sends-power-towers-to-help-out-sa/7891014?section=wa [Accessed on 30 September 2016]

AP English Language Writing Program - Invasive Species Synthesis Essay Student Samples

AP English Language Writing Program - Invasive Species Synthesis Essay Student SamplesIn this case report, we will talk about AP Lang College Board Invasive Species Synthesis Essay Student Samples. The administration of AP Lang College Board provides opportunities for students to make use of their abilities in writing and speaking, as well as in the arts, to become the top student in their class.The different Invasive Species Synthesis Essay Student Samples available at AP Lang College Board includes the AP English Language Writing Workshop. Here, students will receive 'short-term coaching' on creating an essay that not only contains their ability but also uses their creativity.The next Students may take part in PBW (Pre-Literacy Web) and API for College Writing, which provides an overview of Web Content and API programming. This workshop is a combination of PbW skills combined with AP Programming and Writing skills. Students will become familiar with both aspects of academic writing by taking part in these workshops.The Text Exchange Laboratory provides a facility to exchange documents for study purposes. Students will be required to use the database that is provided by this lab, and then the documents must be reviewed by a volunteer. Afterwards, each student can present their own document to a panel.To sum up, AP Text Exchange Workshop will be an introduction to the Text Exchange lab, where participants will be provided with the opportunity to write text on a large scale. Afterward, they will be given a resource list that includes samples of different kinds of documents.Other AP English Language Writing Programs includes AP Power of Writing, AP Special Topics in Grammar, AP Seminar Program, AP Signature Resume, AP Practical Writing, AP Signature Resume & AP Practical Writing, AP Working Knowledge (Long Form), AP Story Report, AP Technical Manual, AP Review and AP News Report. There are more programs, however, as detailed in the course outline, and it is b est to request additional instructions from the AP office.Grammatical Diversity Program participants are encouraged to access various online research articles and conduct research using the tools. One example of such tool is GEDMatch, which is accessible online. Participants of the program will work individually on various types of articles with the option to revise and re-submit their work.Some of the tools provided by the class are Conception Tools, Integrated Toolset, Modernism Toolset, and Novelist Tools. These are available on the website.

Project story free essay sample

Mr.. Moral C. Moving Presented by: Motile, Jason Frizz A. Palsies, Ruin John A. July 1 l. Executive Summary A canned Jams, packaged dried fruits, producer and marketer named Yummy Company and all their products are made from pure natural exotic tropical Juice. The company is in good performance. From the field distribution, marketing, price, imports and exports aspects all are excellent. They also experienced massive expansions to the other part of the Philippines during past two years. They also have a workforce over 1 , 200, from the scenario, the regular employees are 900 and about 300 are seasonal or temporary employees. Yummy Companys workforces are currently non- unionized and its revenue has increased by about 20% in year 2004. On year 1990, yummy company bought two small companies located in southern. As time goes by, the acquisition did not go smoothly since one of the acquired companies had unionized employees and their human resource was not able to handle the situation. We will write a custom essay sample on Project story or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page The human resource was not able involved in strategic planning process. As the result of this lack of human resource performance, the company deal several human resource related problems for at least three years, and result to detrimental to employee morale and productivity, with this experience the companys top management should hire the right person in a certain position so that they could avoid any inevitable situations that they could encounter. However, unionized and non-unionized employees can be considered as the strength, weaknesses, threats and opportunities that could possibly help nor can be a problem in the past, present or future. With this particular problems encountered, the human resource management should plan some alternative solutions on how solve the dilemmas which can affect their performance as a company. As the top management of the Yummy company is concerned, it should be strict in implementing their rules and regulations or by laws, they should also implement strict written communications to avoid miscommunication. And for the unionized employees of the company, it can be advantage for their part, but for the companys point of view, as their primary goal is to earn more profit, it may be disadvantage for their part. II. Statement of the Problem Managing people related issue result by company expansion. Companys HER problem due to: unionized employees, lack performance management system, hiring practices that allowed members of the same family in a supervisor- employee relationship, inconsistent enforcement of employee discipline procedure despite the presence of a collective bargaining agreement, high incidence of theft, informal and autocratic manner, no written HER policies, prop unequipped human resource. Lack of performance dress and communications tool and non-unionized employees Management system Incidence of theft unionized employees Harmonious relationship between companys by-laws proper Employee and employer Hiring practices: implementation workforce proper selection Same family member Detrimental to employee morale Ill. Areas of Consideration Strength Unionized employees Non-unionized employees Harmonious relationship between employee and employer Attained companys Vision Goals Mission Objectives Strong communication Culture innovation Experience in people related issue on merger/expansion. Excellent Manpower and technology Weaknesses Unequipped HER Lack of concern of HER issues Lack of performance management employee system Hiring practices: same family member Lack to employee discipline High incidence of theft Informal and autocratic management No written HER policies, procedures and communication flow management Opportunities Will increase customer satisfaction Will achieve VIGOR Will have good HER communications New management team Poor position in Governmental programs to develop or enhance employees deep understanding Threats Unionized employees Failure to attain companys Vision Mission Goals Objectives Human Resource misunderstanding Wrong decision making Cultural diversity Labor unrest IV. Alternative Course of Action 1. Companys Human Resource should always fully-equipped. . Should have right companys employee incentives. 3. Should hire right person in the right position. 4. Should have Companys Human Resource written the policies, procedures and communication flow. 5. Should not practice hiring blood-related family members. 6. Employee violates any company policies and he should be subject to disciplinary action. 7. Should hire man power. 8. Employees should receive all mandatory compensation: P. D 442 a decree instituting a labor code thereby revising and consolidation labor and social laws to afford protection to labor, promote employment and human sources development and insure industrial peace based on social Justice. 9. Employees should be protected off by laws: AREAWAY (an act instituting policies for the protection and welfare of domestic workers) Companys Human Resource should always fully-equipped. Every human resource of a certain company should always be ready and have always alternative plans for every decision making in the company. Human Resource should hire the right person in the right position, in order to achieve the vision, mission, goals and objective. Its part or function of HER is very important thats why top-management should be reticular and scrutinizing in hiring their workforce. Employees should have right companys incentives. This is to motivate the workforce to achieve the certain vision, mission, goal and objectives in the certain company. It workforces are highly motivated by the companys incentives tater their hard works are being paid, they continue do their best performance in working their assigned Job. Every employee deserves incentives or motivation after they are working for good. In relevance to Yummy Company, especially they experienced tremendous expansion nationally and hitting internally. Human Resource should hire the right person in the right position. If workforce is knowledgeable, his designated Job and it is easy to the management to less their work. It could also perform multitasking, well trained, people oriented (patience, hospitable, approachable, and trustworthy), hence, place the right person with all the knowledge and perseverance to work hard to serve the company. One of the most important factors is the companys Human Resource written HER policies, procedures and communication flow. Thus, the management should have written policies, procedures and communication flow to understand the employee- employer agreement either verbal or written agreement for both parties to have win- win situation. And to understand thoroughly the dos and dont if middle management and thus top management is having problem with their workforce. Should not practice hiring blood related family member. Due of some practices, in which is practiced by some employees in hiring their kins form some personal purposes. In some instances this is being practiced numerously of time in the Philippines, this is a distorted attitude of mostly Filipinos nowadays or lack of professionalism. Employee violates any company policies and procedures; he should e subjected to disciplinary action. If an employee disobeyed the top management, or because of recklessness, he should face the consequence as part of the companys disciplinary action to correct the wrong doing and re-film human resource and workforce communications. To be lawful, disciplinary action or dismissal must be fair and reasonable in all the circumstances with some limited exceptions. The employer must have good reason for the dismissal or disciplinary action, and the employer must follow a fair process in reaching and implementing its decision. Human resource should hire enough man power. Every station of a certain company hooked have a middle management to manage the business smoothly. Manpowers HER services are designed to help the company make more effective and successful hiring decisions, and to increase retention once you bring employees on board. Employees should receive all mandatory compensation: (P. D 442 a decree instituting a labor code thereby revising and consolidation labor and social laws to afford protection to labor, promote employment and human resources development and insure industrial peace based on social Justice. ) this is a motivation for the workforce to perform their Job well. It is now covered by the law makers to give all the mandatory compensation of the employees against opportunist employers. Employees should be protected off by laws: (AREAWAY an act instituting policies for the protection and welfare of domestic workers). As stated by the republic act 10361 that no employees shall be abused by the employer and should be subjected to punished. V. Evaluation Analysis Based trot the theory to Douglas McGregor Theory X believes that most people do not like work. Workers are not smart or creative. People do not care about the organization and will adequately work when there are promises for rewards and potential punishments. Moreover, Theory X manager believes that people want to have direction in order to evade responsibility. In relevance to the Yummy Companys case, human resource is the main problem and which is facing several of problems in the company. If you hired this kind of person, you should be concerned and put them into disciplinary action to correct their distorted principles and attitude. Human Resource problems like this should be correct by the middle management as part of the Companys Human Resource. From the theory of 2 factors motivation hygiene and motivators: Quality of inter-personal relations, working conditions, Feelings of Job security, Status, Opportunity for advancement, Gaining recognition, Responsibility, Challenging / stimulating work, Sense of personal achievement personal growth in a Job. With this aspect, human resource should be more particular and strict about their people and motivate them, challenge to develop skills and to dilate knowledge, know the quality for interpersonal relations, and your growth or experience towards working with several people. From the Carrot and Stick theory which serves as a motivation. Carrot in the company can be a food, shelter, clothes as which is the basic assumption of Mascots theory. Because from Mascots Hierarchy of needs. So the stick represents fear, which can be a good motivator when used sparingly at the right time. It may produce immediate results that derive from prompt compliance. It is only useful in the short term though, as over time increasing levels of punishment would be necessary to obtain the same results and this can backfire in the form of mutiny and sabotage. VI. References O Douglas McGregor D. 1960), THEORY X and THEORY Y 0 Jim Riley, Motivation Theory (Hygiene Factors- Motivator Factors) (Herbert) http://www. Tutors. Et/business/people/motivation_theory_Herbert. Asp 0 Carrot and Stick Theory http://imitate. Co. UK/professional/carrot-or-stick-approach/ VI. Conclusion Therefore, from the given case, Yummy Company is experiencing human resource management. If by chance, the us ed theories Carrot and Stick, McGregor theory X, and Two factors theory Hygiene and Motivators could be a way to help on how to motivate their workforce towards their Human Resource Problem. Hence, after finding the statement of the problem of the Yummy Company which are: unionized employees, lack performance management system, hiring practices that allowed embers of the same family in a supervisor- employee relationship, inconsistent enforcement of employee discipline procedure despite the presence of a collective bargaining agreement, high incidence of theft, informal and autocratic manner, no written H R policies, procedures and communications tool and unequipped human resource. Fish bone theory was used as the instrument to distinguish the problem. Afterwards, SOOT or (Strength, Weaknesses, Opportunities, and Threats) is being used to measure the companys capability to strengthen the strength, solve the problems or weaknesses, grab the opportunities, and prepare a plan and let the many to experience the threats. I conclude that Yummy Company should strictly implement the alternative course of action because this may help to solve the companys Human Resource. With the proper rules and regulations, by-laws, communication, disciplinary action and written agreement and all human resource problems with the help of detailed action plan which is designed to create a new plan and or solutions to prevent any companys weaknesses and threats and to firm companys strength and opportunities. VIII. Recommendations The recommendations for this study are based on the results of the findings from the analysis. The following are the researchers recommendations: 1. The human resource of Yummy Company should train their people workforce before upon hiring to avoid dilemmas. 2. Yummy Company should discipline their workforce or should be subjected to disciplinary action if ever he or she caught red handed. 3. Human resource or middle management should implement companys by-laws, written agreement, and shouldnt hire same family member. 4. The company should hire enough manpower with good skills and enough experience to reduce companys human resource problems since this is the primary problem. The researchers recommend firming their human resource aspects since they find hard in including their people and motivate them by giving incentives, compensation through following the motivation theory. 6. The researchers recommend to make unionized united employee if a certain company is abusing the right of employee and non-unionized if the company is giving all the benefits and incentives of employee. 7. Human resource manager should also hire the right p erson in the right position to easily adjust the culture and environment which are some factors that affects human resource.

Seed Tree and Shelterwood Harvesting Methods

Seed Tree and Shelterwood Harvesting Methods Even-aged Harvesting Methods Many tree species do not tolerate major shade during the early stages of development. These stages include early seedling germination, development and sapling growth stable enough to compete in mid-canopy.  These tree species have to have some light for regenerating and ensuring future even-aged stands for that species. Most of these timber types are mostly coniferous with a few exceptions. Commercially valuable trees that need light to naturally regenerate a new stand of the same species makes up a major part of even-aged harvesting schemes by foresters. The reproductive management of these trees in North America includes jack pine, loblolly pine, longleaf pine, lodgepole pine, ponderosa pine, slash pine. Notable intolerant hardwood species include many valuable commercial oaks plus yellow-poplar and sweetgum. Several reforestation systems and harvesting methods can be used to create even-aged stands.   While specific treatments vary across the U.S. by tree species and climate, the basic systems are clearcutting, seed tree and shelterwood. Shelterwood Even-aged stands must regenerate beneath the shade provided by mature trees left from the previous stand.   It is a major harvest scheme used in all regions of the United States. This includes regenerating loblolly pine in the South, Eastern white pine in the Northeast and ponderosa pine in the West. Preparing a typical shelterwood condition could include three possible types of cuttings: 1) a preliminary cut might be made to select high yielding trees to leave for seed production; 2) an establishment cut can be made that prepares a bare soil seed-bed  as well as trees that provide seed just before seed fall; and/or 3) a removal cut of overstory seed trees that have established seedlings and saplings but would be in competition if left to grow.   So, a shelterwood harvest would be done to leave seed-producing trees uniformly throughout the stand, in groups, or strips and, depending on seed  crop and species, can have between 40 and 100 crop trees.   As with seed tree harvests,  shelterwoods  are sometimes interplanted to supplement natural seeding.   Red and white oak, the southern pines, white  pine,  and sugar maple are examples of tree species that may be regenerated using the shelterwood harvesting method. Here are specific shelterwood terms that further explain this harvesting method: Shelterwood Cut - Removing trees on the  harvest  area in a series of two or more cuttings so new seedlings can grow from the seed of older trees. This method produces an even-aged forest. Shelterwood Logging  - Method of harvesting timber so that selected trees remain scattered throughout the tract to provide seeds for regeneration and shelter for seedlings. Shelterwood System  - An even-aged  silvicultural scheme in which a new stand is established under the protection of a partial canopy of trees. The mature stand is generally removed in a series of two or more cuts, the last leaving a new even-aged stand that is well developed. Seed Tree The seed tree reforestation method leaves healthy, mature trees with a good cone crop (usually 6 to 15 per acre) in the existing stand to provide seed for regenerating a new stand of trees.   Seed trees are typically removed after regeneration is established, especially when seedling levels are significant enough to  stand some logging losses. It is not unusual for a forest manager to  leave the seed trees for wildlife or aesthetics objectives. However, the primary objective of a seed tree regeneration harvest is to provide a natural seed source. Artificial planting of nursery seedlings may be used to supplement areas where natural seeding was not adequate.   White pine, the southern pines and several species of oak may be regenerated using the seed tree harvesting method. Clearcutting Removing in a single cutting all of the overstory trees in a stand to develop a new stand in a shade-free environment is called a clear or clean cut harvest. Depending on species and topography, reforestation can occur  by natural seeding, direct seeding, planting, or sprouting. See my feature on clearcutting: The Debate Over Clearcutting Each individual clearcut area is a unit in which regeneration, growth, and yield are monitored and managed specifically for wood production. That does not mean that all trees will be cut. Certain trees or groups of trees may be left for wildlife, and buffer strips are maintained to protect streams, wetlands, and special areas. Common tree species regenerated using clearcutting include the southern pines, Douglas-fir, red and white oak, jack pine, white birch, aspen, and yellow-poplar.