Friday, November 15, 2019
How Bathsheba Everdene Has Changed in the Novel Far From The Madding Cr
How Bathsheba Everdene Has Changed in the Novel Far From The Madding Crowd "Bathsheba Everdene is a changed woman by the end of this novel". By referring closely to events in the text, show to what extent you agree with this statement. In this essay I am going to be deciding to what extent that I think Bathsheba Everdene has changed in the novel 'Far From The Madding Crowd'. I will compare the two sides and reach my conclusion. I think that in the novel, in some ways Bathsheba has changed. When we first meet Bathsheba she is going to live with her aunt, and is probably dependant upon her. Then, Bathsheba inherits a farm and money. This occurrence would give Bathsheba more independence and freedom, so in that way she has changed from the start of the novel. When Bathsheba's sheep get into a field of clover, the only person who can help her is Gabriel Oak. At first Bathsheba refuses to ask Gabriel for help as they have had a row but then she does. Gabriel replies "beggars mustn't be choosers". We know that Bathsheba is a very proud, independent woman and doesn't like to ask for help, but here she swallows her pride and sends a note reading, "Do not desert me Gabriel". This must have been quite a hard thing for a stubborn person to do, and I think that earlier on in the book, Bathsheba wouldn't have been able to do such a thing. This therefore shows that Bathsheba is now more grown up and able to see the bigger picture of life. At the start of the novel, Bathsheba is very young and innocent. When Gabriel Oak proposes to Bathsheba the first time, Bathsheba says "I shouldn't mind being a bride at a wedding, if I could be one without having a husband" However, at both times when Bathsheba is mar... ...ne because she is jealous that he doesn't look at her at the fair, she wants what she can't have, so when he proposes to her, she doesn't know how to let him down gently. But the second time she isn't straightforward because she doesn't want to hurt his feelings. So although she is indecisive, she does seem to develop feelings for Farmer Boldwood, as she doesn't want to hurt him in the end. After reading this novel I have decided that Bathsheba is a changed woman to some degree, but underneath she is still the same stubborn, vain girl. I think the changes that have occurred are due to her growing up and becoming a woman and I think that she has learned from her mistakes and from the experiences she has dealt with. I think any changes that have happened to Bathsheba have happened for the better as she is noticing her faults and is better because of it.
Tuesday, November 12, 2019
Justice Essay
Discuss and evaluate the view of the concept of Justice in relation to Othello and two supplementary texts. Justice is to live in a society that is fair to everyone, were everyoneââ¬â¢s human rights are met and were everyone has equal opportunity to succeed. The concept of justice is portrayed rather unevenly in Othello and does not prevail as the villain, Iago, is still alive while his ââ¬Ëvictimsââ¬â¢ are not. Also in my supplementary texts the balance of justice is uneven. One of my supplementary texts ââ¬ËMen of Honourââ¬â¢ is a film about a black sailor, Carl Brashear, trying to become a US Navy Diver but his training officer, Billy Sunday, makes it hard for him because of his colour. In the end of Men of Honour justice does prevail as Carl becomes a navy diver. My other supplementary text the ââ¬ËI Have a Dreamââ¬â¢ speech is about a man, Martin Luther King, telling the world about the injustices against black people in America and how justice should be achieved. My argument is that justice is not achieved in Othello while it is achieved in ââ¬ËMen of Honourââ¬â¢ and it is explained in the ââ¬ËI have a Dreamââ¬â¢ speech. Othello is written by William Shakespeare in England when Prejudice against women and people of different race was acceptable in society. In Othello racial prejudice, gender injustice and Vigilante injustice are very prominent especially towards the end of the play. Desdemona, Emilia and Bianca are treated like second class citizens because of their gender and Othello feels alienated by white society and feels he is always being judged because of his colour. The setting plays a major role in the balance of injustice throughout the play. In the beginning it is set in Venice which seemingly appears democratic and just with Othello being given a fair trial when they discover he has married Desdemona. This is in stark contrast to Cyprus which is the setting for the majority of the play and appears less civilized and lacking any real legal structures. This change of setting changes the behaviour of some of the characters especially Othello, who appears a noble soldier and good husband in Venice, changes when the setting moves to Cyprus and starts to make rash decisions. These changes in Character add to the injustices dealt with by some of the characters. ââ¬ËMen of Honourââ¬â¢ is set in America in the 1960s after WWII and during the Vietnam and Cold Wars. This was a time when coloured people were seen as second class citizens and the Navy was also not ready to accept coloured people into jobs of authority. This is represented by ââ¬Å"Two table spoons of machine oil can contaminate a whole ships fresh water supply, some things just donââ¬â¢t mixâ⬠. This was the analogy of black people in the military. Even though there was so much prejudice society was aware of the injustices of coloured people and the need for change and there were even laws against segregation in the military but society was still lagging behind the law. The ââ¬ËI Have a Dreamââ¬â¢ speech was presented in America in 1963 during the Vietnam and Cold Wars. It was presented in front of 200,000 people on the steps of Lincoln Memorial after a march for American Civil rights. It was a time were black people suffered horrific segregation and had little rights and in many southern states white people could commit crimes against them with little chance of repercussions. But it was also a time for social change and people were ready for a change. Racial injustice is where people of different races are not treated equally to the rest of society. In Othello this racial injustice is very prominent and plays a major role in the play. The black army general, Othello, is the man who feels most of the racial injustice in the play. When Iago and Rodrigo are talking privately they talk of Othello very harshly and make reference to his race regularly, ââ¬Å"thick lipsâ⬠, ââ¬Å"the moorâ⬠and ââ¬Å"black ramâ⬠are just some of the words they use to describe him This is also a use of animal imagery in ââ¬Å"black ramâ⬠which dehumanises Othello. In the play Othello constantly feels like the outsider and having to constantly prove his worth, this is portrayed by ââ¬Å"My parts, my tile and my perfect soul shall manifest me rightlyâ⬠. This sense of being the outsider because of race is prominent in my two related texts the ââ¬ËMen of Honourââ¬â¢ film and the ââ¬ËI Have a Dreamââ¬â¢ speech. In ââ¬ËMen of Honourââ¬â¢ Carl Brashear is a Black Navy man who wishes to become a U. S Navy Diver but because of his colour his trainer, Billy Sunday, makes it nearly impossible for him to become one. His fellow Divers alienate him and insult him in one scene he is spat on and laughed at. ââ¬Å"No offence to the President but I donââ¬â¢t bunk with Niggersâ⬠. This shows how he constantly has to prove himself to white society just like Othello and is used to create empathy for Carl. In ââ¬Å"I Have a Dreamâ⬠the spokes person, Martin Luther King, is trying to persuade the public to judge people on their personality not their race. They will not be judged by the colour of their skin but on the content of their characterâ⬠. Luther King uses persuasive language to convey the message and have it heard. Likewise Othello feels like he is being judged on his colour and not who he really is ââ¬Å"Speak of me as I amâ⬠he uses assertive tone in the verb ââ¬Ës peakââ¬â¢ as he is afraid of being judged. Gender injustice is where people are judged on their gender and not treated equally to the other gender and their role in society. In Othello there are many cases of gender injustice and in some cases it is a misunderstanding. Emilia is the woman who is the main victim of gender injustice. Emilia is Iagoââ¬â¢s wife and throughout the play she is put down by him and treated like a second class citizen. ââ¬Å"Players your housewifery and housewives in your bedâ⬠. This is spoken by Iago and shows his view of women as good for nothing. In ââ¬ËMen of Honourââ¬â¢ just like Emilia, Carl is constantly being told that he and his race are good for nothing but cooking in the Navy and will never become a Navy Diver. Bianca, Cassioââ¬â¢s lover, is also a victim and is constantly being called a strumpet and when Cassio is stabbed Iago blames her because no one will believe a woman over a man. Desdemona is another victim of gender injustice as she is not given a fair say by Othello when he suspects her infidelity and kills her. Othello believes that she does not deserve her say and in the end she pays the ultimate price. While Desdemona is pleading with Othello she says ââ¬Å"I never gave him tokenâ⬠but Othello does not give her a chance to explain herself and he judges her without cause. Vigilante Injustice is the act of taking the law into someoneââ¬â¢s own hands and acting on something outside the law. In Othello Iago is the main culprit of this as he tries to destroy Othello outside the law. He also tries to convince Rodrigo to help him in his plan of ruining Othelloââ¬â¢s life. In ââ¬ËMen of Honourââ¬â¢ the commanding officer of the U. S Navy Diving Centre takes the law into his own hands by trying convince Billy Sunday to fail Carl by getting into his head. He says things such as ââ¬Å"Did you know that ordinary house dust is made primarily of human skin, makes you think twice about who you invite into your homeâ⬠. In Conclusion Othello is not a very just or fair play as throughout the play people are being judged by others because of their gender and race and in the end justice is not achieved. My supplementary texts are also about people being judged and treated unfairly but unlike Othello justice is achieved at the end of my supplementary texts. Othello and my texts also represent the time they were composed, in times when people were judged and treated unfairly because of the colour of their skin or their gender.
Sunday, November 10, 2019
Multiple Choice Questions
CH 1 Answers Multiple Choice Questions 1. E 8. E 15. E 2. E 9. E 16. A 3. E 10. C 17. D 4. E 11. E 18. E 5. D 12. A 6. B 13. D 7. E 14. E CH 2 Answers Multiple Choice Questions 1. C 11. B 21. E 2. C 12. E 22. A 3. B 13. E 23. C 4. B 14. E 24. D 5. D 15. B 25. C 6. E 16. D 26. A 7. A 17. D 27. D 8. D 18. E 28. B 9. A 19. C 10. D 20. E CH 3 Answers Multiple Choice Questions 1 B 9. B 17. D 2. C 10. A 18. E 3. B 11. A 19. C 4. D 12. B 20. D 5. E 13. D 21. C 6. A 14. A 7. C 15. D 8. E 16. A CH 4 Answers Multiple Choice Questions 1 B 9. B 17. D 2. C 10. A 18. E 3. B 11. A 19. C 4. D 12. B 20. D 5. E 13. D 21. C 6. A 14. A 7. C 15. D 8. E 16. A 9. D 18. B CH 5 Answers Multiple Choice Questions 1. E 11. B 21. C 2. B 12 B 22. A 3. C 13. B 23 B 4. C 14. E 24 A 5. B 15. E 25. C 6. B 16. C 26. E 7. D 17. D 27. B 8. A 18. A 28. A 9. B 19. D 29. D 10. B 20. A Solutions 16. Solution: use Equation (5-4) [(. 32 ââ¬â . 30)/. 30] x (360/180) = 13. 3% 17. Solution: use Equation (5-4) [(. 30 ââ¬â . 32)/. 32] x (360/180) = -12. 5% 18. Solution: cross rate . 28/. 86 = . 3256 19. Solution: cross rate DM. 31/FF: FF1/DM. 31 = FF3. 23/DM FF3. 23/$. 35 = FF9. 228/$ 20. Solution: use Equation (5-1) [(. 0045 ââ¬â . 0035)/. 0035 = 29% 21. Solution: use Equation (5-8) [(. 864 ââ¬â S)/S) x (360/90)] = . 10 ââ¬â . 04 S = . 3807 22. Solution: use Equation (5-6). Remember that Cr$3342. 63 = $0. 0002991. new exchange rate = $0. 0002991[(1 + . 05)/(1 + . 90)] = $. 0001652/Cr$; or Cr$1/$. 0001653 = Cr$6053. 27/$ 23. Solution: Use Equation (5-7): nominal rate = real rate + inflation rate. nominal rate = 5% + 4% = 9% S olution: invest in the U. S. : $10,000 x 1. 01 = $10,100 invest in the U. K. and cover in the forward market. buy pounds at the present spot rate: $10,000/1. 8 = ? 5,555 invest in the U. K: ? 5,555 x 1. 015 = ? 5,638 sell pounds forward: ? 5,638 x 1. 8 = $10,036 The investor would earn $64 more by investing in the United States instead of the United Kingdom. 25. Solution: use Equation (5-8) and solve for the forward rate: [(F ââ¬â 1. 800)/1. 800 x (360/90)] = 0. 04 ââ¬â 0. 06 F = ? 1. 809 26. Solution: use Equation (5-8) and solve for the U. K. interest rate. [(1. 780 ââ¬â 1. 800)/1. 800 x (360/90)] = 0. 04 ââ¬â if if = 0. 084 27. Solution: Use Equation (5-1). % Change = (0. 68 ââ¬â 0. 64)/0. 64 = 0. 0625 or 6. 25% 28. Solution: Converting the above example into indirect quotations, the Swiss franc changes from 1. 5625 francs to 1. 4706 francs. Use Equation (5-2) to solve this problem. % Change = (1. 5625 ââ¬â 1. 4706)/1. 4706 = 6. 25% 29. Solution: Use Equation (5-3). Spread = (0. 68 ââ¬â 0. 64)/0. 64 = 0. 0625 or 6. 25% CH 6 Answers Multiple Choice Questions 1. E 10. E 19. B 2. E 11. B 20. E 3. E 12. E 21. E 4. B 13. A 22. C 5. C 14. A 23. D 6. E 15. D 24. A 7. C 16. C 25. B 8. B 17. D 9. B 18. A Solutions 16. $value = $0. 50 x DM10,000,000 = $5,000,000 17. Investment =? 62,500 x $1. 65 x 0. 02 = $2,062. 50 Profit = ? 62,500 ($1. 67 ââ¬â $1. 65) = 1,250 Rate of return = (1,250/2,062. 50) x (12/6) = 121% 18. Potential profit = $1. 65 ââ¬â $1. 62 = $0. 3 19. Potential loss = $1. 62 ââ¬â $1. 65 = -$0. 03 20. Buy call options on March 19 -$0. 04 Exercises the option on September 19 -$0. 80 Sell the pounds on September 19 +$0. 92 Net profit as of September 19 +$0. 08 Net profit for three contracts = Can$150,000 x $0. 08= $12,000 21. Total loss = Can$150,000 x $0. 04 = $6,000 22. Intrinsic value = $0. 16 â⠬â $0. 15 = $0. 01 23. Breakeven point = $1. 75 + $0. 07 = $1. 82 24. Total receipts = FF10,000,000 x $0. 20 = $2,000,000 total premium = FF10,000,000 x $0. 05 =$ 500,000 net receipts = $1,500,000 25. Breakeven point = $0. 70 ââ¬â $0. 05 = $0. 65 CH 7 Answers Multiple Choice Questions 1. E 10. C 19. C 2. E 11. B 20. B 3. E 12. B 21. D 4. C 13. A 22. E 5. E 14. B 23. A 6. A 15. B 24. C 7. E 16. C 25. D 8. A 17. E 26. A 9. C 18. A 27. D Solutions 20. $7,500,000 x (0. 082 ââ¬â 0. 08) = $15,000. 21. $15,000 x the annuity discount factor of $1 for 5 years at 8 percent = $15,000 x 3. 993 = $59,895. 22. You will receive a total of $30,000 for the first two years [$7,500,000 x (0. 082 ââ¬â 0. 080) x 2]. The new floating rate that you will receive: 8. 2% -1. 5% = 6. 7%. You will pay a total of $292,500 for the last three years [$7,500,000 x (0. 67 ââ¬â 0. 08) x 3 years]. Thus, your net payment over the five years will be -$262,500 ($30,000 ââ¬â $292,500). 23. $500,000 x SFr1. 4 = SFr700,000. 24. $500,000 x 0. 09 = $45,000. 25. $500,000 x (0. 09 ââ¬â 0. 08) = $5,000. 26. SFr700,000 (1. 08) = SFr756,000. 27. $500,000 (1. 09) = $545,000. CH 8 Answers Multiple Choice Questions 1. E 9. E 17. D 2. C 10. A 18. D 3. E 11. D 19. A 4. D 12. E 20. C 5. E 13. C 21. E 6. D 14. E 22. C 7. E 15. D 23. C 8. B 16. C 24. E Solutions 18. Use Equation (8-1): % Change = ( 0. 70 ââ¬â 0. 65 ) / 0. 65 = 7. 69% 19. Use Equation (8-2): % Change = ( 0. 65 ââ¬â 0. 0 ) / 0. 70 = -7. 14% 20. Use Equation (8-1): % Change = ( 0. 44 ââ¬â 0. 40 ) / 0. 40 = 10% 21. Use Equation (8-3): Predicted Rate = $0. 4 x [ ( 1 + 0. 05 ) / ( 1 + 0. 03 ) ] = $0. 4078 22. ( 0. 4400 ââ¬â 0. 4078 ) / 0. 4078 = 7. 9% 23. Use Equation (8-5): Predicted Rate = $0. 50 x [ ( 1 + 0. 12 ) 5 / ( 1 + 0. 08 ) 5 ] = $0. 5997 CH 9 Answers Multiple Choice Questions 1. B 10. D 19. C 2. E 11. D 20. D 3. D 12. A 21. A 4. C 13. A 22. A 5. E 14. E 23. C 6. E 15. E 24. D 7. C 16. A 8. E 17. C 9. D 18. B Solutions 12. Call option = ? 50,000 x $1. 7 = $85,000 Spot transaction = ? 50,000 x $1. = $90,000 Thus, the U. S. company should exercise the option. 16. Net Exposure = Ps300 million ââ¬â Ps200 million = Ps100 million Gain or loss = $0. 0001 x (-Ps 100 million)= ââ¬â $10,000 17. (Expected amount) $15 million ââ¬â (actual amount) $14 million = exchange loss of $1 million 18. (Profit after taxes) ? 50 million + (depreciation) ? 10 million = (cash flows from operation) ? 60 million Exchange gain or loss = ? 60 million x $0. 02 = $1. 2 million 19. Gain or loss = $15 million x 3 = $45 million 20. [ ( 1. 8090 ââ¬â 1. 800 ) / 1. 8000 ] x 360 / 90 = 0. 08 ââ¬â 0. 1 0. 02 = 0. 02 21. irect loan credit swap 50,000y + (250,000y ââ¬â 500,000) = 50,000y + 50,000 y = 2. 2 22. $value = $2. 02 x ? 10,000 = $20,200 23. 1) borrow ? 9,709 (10,000/1. 03) 2) buy $19,515 (? 9709 x $2. 01) 3) invest $19,515 in the U. S. at 2% 4) receive $19,905 ($19,515 x 1. 02) 24. Call option = ? 50,000 x $1. 7 = $85,000 CH 10 Answers Multiple Choice Questions 1. E 10. D 19. e 2. E 11. E 20. E 3. C 12. E 21. D 4. B 13. D 22. A 5. E 14. D 23. E 6. E 15. E 7. D 16. E 8. E 17. B 9. E 18. C CH 11 Answers Multiple Choice Questions 1. B 9. A 17. B 2. B 10. B 18. E 3. E 11. D 19. B 4. E 12. D 20. C 5. B 13. A 21. D 6. D 14. E 22. E 7. B 15. A 8. D 16. C CH 12 Answers Multiple Choice Questions 1. E 10. B 19. C 2. A 11. A 20. D 3. E 12. C 21. D 4. E 13. C 22. B 5. B 14. B 23. D 6. D 15. E 24. C 7. D 16. E 25. C 8. E 17. E 9. E 18. A CH 13 Answers Multiple Choice Questions 1. C 8. C 15. E 2. A 9. D 16. A 3. D 10. E 17. D 4. E 11. C 18. B 5. D 12. B 19. E 6. D 13. B 20. B 7. D 14. D 21. D CH 14 Answers Multiple Choice Questions 1. E 11. E 21. D 2. D 12. E 22. E 3. E 13. B 23. C 4. E 14. A 24. B 5. A 15. B 25. A 6. A 16. C 26. D 7. B 17. B 27. D 8. B 18. E 28. C 9. E 19. C 10. D 20. A Solutions 25. Solution: U. S. nvestment earns 1 percent. Percentage change in mark = ($0. 40 ââ¬â $0. 50)/$0. 50 = -20%. German investment loses 18. 8 percent: [(1 + 0. 015)(1 + (- 0. 20)] ââ¬â 1 = -18. 8%. 26. Solution: Convert DM100,000 to $50,000 at $0. 50 rate. Invest $50,000 in the U. S. at 11 percent. ($50,000 x 1. 11 = $55,500) Reconvert dollars to marks. ($55,500/$0. 46 = DM120,652) Yield = (DM120,652 ââ¬â DM100,000)/DM100,000 = 20. 65%. 27. Solution: Use Equation (14-1). 0. 10 = (1 + 0. 13)(1 + ie) ââ¬â 1; solve the equation for ie (percentage depreciation). ie = (1 + 0. 10/(1 + 0. 13) ââ¬â 1 = -2. 65%. 28. Solution: Use Equation (14-1). 0. 09 = (1 + 0. 60)(1 + ie) ââ¬â 1; solve the equation for ie (percentage depreciation). ie = (1 + 0. 09)/(1 + 0. 60) ââ¬â 1 = -31. 88%. CH 15 Answers Multiple Choice Questions 1. B 9. A 17. D 2. E 10. E 18. A 3. D 11. B 19. E 4. E 12. D 20. A 5. A 13. B 21. A 6. E 14. B 22. B 7. A 15. E 23. E 8. B 16. C 24. A Solution 20. Use Equation (15-2): R = . 07 + (. 15 ââ¬â . 07) 1. 4 = 18. 2% 21. Use Equation (15-2): R = . 05 + (. 11 ââ¬â . 05) 1. 2 = 12. 2% < 20% 22. Use Equation (15-4): Rp = (. 4) (. 12) + (. 6) (. 20) = 16. 8%. 23. Use Equation (15-4): 0. 17 = (0. 60) (Rus) + (0. 40) (0. 20). Rus = 15%. 4. Average price = (40 + 50 + 60) / 3 = $50. Use Equation (15-1) for the standard deviation: Standard deviation = {[ ( 40 ââ¬â 50 ) 2 + ( 50 ââ¬â 50 ) 2 + ( 60 ââ¬â 50 ) 2 ] / ( 3 ââ¬â 1 ) } ? =$10. 1. The coefficient of variation = 10 / 50 = 0. 20. CH 16 Answers Multiple Choice Questions 1. E 11. A 21. C 2. B 12. C 22. E 3. B 13. D 23. C 4. E 14. E 24. B 5. A 15. B 25. B 6. C 16. D 26. B 7. C 17. B 27. A 8. B 18. E 28. E 9. D 19. C 10. C 20. A CH 17 Answers Multiple Choice Questions 1. A 11. D 2. D 12. E 3. B 13. E 4. B 14. E 5. D 15. A 6. E 16. B 7. C 17. A 8. C 18. C 9. B 19. A 10. A Solutions 15. ayback period = 1 + (15,000 ââ¬â 8,000)/9,000 = 1. 8 years. 16. NPV = $8,000/(1. 12) + $9,000/(1. 12)2 + $10,000/(1. 12)3 + $10,000/(1. 12)4 -$ 15,000 = $13,433. 17. NPV = $8,000/(1. 20) + $9,000/(1. 20)2 + $10,000/(1. 20)3 + $10,000/(1. 20)4 -$ 15,000 = $9,002. 18. Year 1: DM12,000,000 x $0. 60 = $ 7,200,000 Year 2: DM30,000,000 x $0. 60 = $18,000,000 Net present value = $7,200,000/(1. 18) + $18,000,000/(1. 18)2 ââ¬â $8,000,000 = $11,029,015. 19. NPV = $900 (0. 75)/(1. 06) + $1,000(0. 55) /(1. 06)2 + $1,400(0. 35)/(1. 06)3 -$ 1,400 = $138. CH 18 Answers Multiple Choice Questions 1. D 10. C 19. E 2. C 11. C 20. B 3. D 12. E 21. E 4. E 13. B 22. C 5. B 14. B 23. B 6. C 15. E 24. E 7. B 16. A 25. D 8. D 17. A 26. E 9. B 18. E 27. A 28. D Solutions 21. Use Equation (18-2): Cost of common stock = 4 / 54 + . 09 = 16. 4% 22. Use Equation (18-5): Cost of bond = . 124 (1 ââ¬â . 40) = 7. 4% 23. Use Equation (18-1): Cost of capital = (120,000/200,000). 164 + (80,000/200,000). 074 = 12. 8% 24. Use Equation (18-3): Cost of common stock = 0. 06 + (0. 08 ââ¬â 0. 06) 1. 2 = 8. 4%. 25. Use Equation (18-6): The before-tax cost of debt = 0. 30 x 0. 85 ââ¬â 0. 15 = 0. 105. After-tax cost of debt = 0. 105 (1 ââ¬â 0. 35) = 6. 3% 26. Use Equation (18-4): The cost of common stock = 1 / 25 = 4%. 27. If you rearrange Equation (18-2) for the market price of equity, you will have: market price = dividend / (cost of equity ââ¬â annual dividend growth rate) = $1. 2 / (0. 20 ââ¬â 0. 04) = $7. 50. 28. Solve Equation (18-2) for the market price of equity: Because the dividend per share is $2. 40 ($4. 00 x 0. 60), market price of the stock = $2. 4 / (0. 12 ââ¬â 0. 05) = $34. 29. CH 19 Answers Multiple Choice Questions 1. E 11. E 2. D 12. A 3. D 13. E 4. A 14. A 5. D 15. D 6. A 16. E 7. E 17. D 8. E 18. C 9. C 19. C 10. D 20. A
Friday, November 8, 2019
Financial analysis report on Restaurant Brands Essays
Financial analysis report on Restaurant Brands Essays Financial analysis report on Restaurant Brands Essay Financial analysis report on Restaurant Brands Essay Individual Assignment Individual Assignment Fiscal analysis study on Restaurant Trade names Word Count: 996 words Submitted By: Table of Contents Table of Contentss : List of figures List of Tables Executive Summary The Industry The Company The Financials Decision and Recommendation Mentions List of Figures Restaurant Brandââ¬â¢s shops in New Zealand Gross graph for the last 5 old ages for Restaurant Trade names Bank Debt and dividend of the company Stock Price for Restaurant Trade names Net income Margin and companyââ¬â¢s purchase List of Tables S.W.O.T. analysis of the industry S.W.O.T. analysis of the Restaurant Trade names Gross of Restaurant Brands from its franchises Net incomes and Dividends from 2008 boulder clay 2014 Executive Summary Restaurant Brands is a New Zealand company which franchises major trade names like KFC, Pizza Hut, Starbucks and Carl s Jr. across New Zealand. This study shows a fiscal analysis about the company so as to do a determination whether Portfolio Managers Ltd. can put in the company. Restaurant Brands founded in 1997 is a good established company and has 176 shops in New Zealand. Fast nutrient has become a new tendency and one the most demanding industry in the current decennary and Restaurant Brands is a leader in this industry. Financially, the company has drastically increased in gross comparing the old old ages. And it has proved there is a changeless income in the concern. The company s new venture in Carl s Jr. has besides showed a nice profitableness in the industry which shows the company is spread outing nationally in different fast nutrient trade names. The whole study would take to urge Portfolio Managers Ltd. to put in Restaurant Brands. The Industry Food is one of the industries in the universe which is profitable if the trade name maintains its quality and it is good established. Few old ages back New Zealand did non hold much fast nutrient eating houses, fast nutrient has become a necessity in todayââ¬â¢s coevals. And franchising a good established fast nutrient trade name is acquiring better. As the rise in figure of different transnational trade names in the last few old ages show the rise in the industry. As an industry there can be tonss of competition but there are merely few major fast nutrient trade names. Restaurant Brands operates with major participants like KFC, Pizza Hut, Starbucks and Carlââ¬â¢s Jr. There is a little possibility of competition in the market as the rival trade names like McDonnell s, Dominos pizza are emerging. S.W.O.T Positive Negative Internal Strengths Existing concern theoretical account Support from the trade name Lesser competition for bigger trade names Less labour costs Failings Constrained industry High care Lesser profitableness External Opportunities Changeless income New and large market Menaces Intervention of authorities ordinance Trade name repute is precedence Table 1: S.W.O.T. analysis of the industry The rise of the Part-Time Economy, Refranchising, eCommerce integrating, Multiple Unit Ownership and More statute law of franchising are the few major tendencies in this industry. The industry is somewhat new to the market but a profitable industry. A right trade name would take to high success rate and profitableness. The Company A universe broad recognized trade name has its ain criterions and method of operation, pull offing a trade name worldwide is impossible. Franchising companies like Restaurant Brands plays a major function in pull offing these branded ironss of retails. As of February 2014, the company has 176 mercantile establishments which includes 90 KFC, 51 Pizza Hut, 27 Starbucks and8 Carl s Jr mercantile establishments. There are over 3,700 employees and 60,000 clients visit per twenty-four hours all over New Zealand. The increasing figure of shops for every trade name over the old ages and the quality maintained by every shop is the major success of this company. The undermentioned chart shows the figure of shops the company owns ; the company has major per centum of KFC shops. Figure 1: Restaurant Brandââ¬â¢s shops in New Zealand S.W.O.T Positive Negative Internal Strengths Trade name Loyalty Market leaders trade names Highly profitableness concern Diversified company Introducing Carlââ¬â¢s Jr ( high profitableness and shows enlargement ) Failings Low Productiveness Limited mark market ( young person ) Should keep high criterions Lack of R A ; D External Opportunities Addition demand of fast nutrient Expansion possibility Targeting other recognized trade names Menaces Raising competition High Taxs Government and environmental intercessions Increasing nutrient costs Table 2: S.W.O.T. analysis of the Restaurant Trade names Every company has its ups and downs. Harmonizing to the above SWOT analysis, Restaurant Brands has its ain advantages and disadvantages. The good thing about the company is that it franchises the biggest trade names in the universe and has been demoing a really good profitableness. The lone concern for the company is the authorities intercession and revenue enhancements. The addition in cost of nutrient is a concern but comparing the cost of a normal eating house and a KFC repast itââ¬â¢s really low. The Financials Restaurant Brands Limited is an international company which is listed on the New Zealand Stock Exchange. Harmonizing to the fiscal studies, the following graph shows the gross of the company for the last 5 old ages. It shows the bead in gross in 2012, it was chiefly due to the temblor, even though there was a 4.4 % of bead in the gross the undermentioned old ages showed a important addition. In 2014, the gross increased by 5.6 % and the net net income went up by 23.5 % ; it is besides the 2nd best net income in 17 old ages for the company. Figure 2: Gross graph for the last 5 old ages for Restaurant Trade names 2014 ( $ m ) 2013 ( $ m ) Change ( % ) Entire Group Revenue 330.4 312.8 +5.6 Net Net income After Tax 20.0 16.2 +23.5 KFC Gross saless 241.5 237.0 +1.9 Pizza Hut Gross saless 48.4 47.9 +1.1 Starbucks Coffee Gross saless 25.0 25.1 -0.3 Carlââ¬â¢s Jr Gross saless 14.3 1.9 +662.2 Table 3: Gross of Restaurant Brands from its franchises The above tabular array shows the split up of the gross of each trade name. Increased per centum of gross revenues generated by KFC and Pizza hut of 1.9 % and 1.1 % severally. And there is a lessening in gross generated by Starbucks. The interesting fact is that the freshly opened shops of Carlââ¬â¢s Jr. are bring forthing Gross saless which is 662 % addition in the gross compared to old old ages. The operating hard currency flow for the company is $ 32.7 m and the companyââ¬â¢s bank debt has dropped to $ 8.1 million. BANK DEBT $ 8.1m FULL Year DIVIDEND 97,871,090 portions issued Up 3.1 % 20.4 CENTS PER SHARE Figure 3: Bank Debt and dividend of the company( restaurantbrands.co.nz ) The undermentioned information shows the incremental portion value from 2008 boulder clay 2014. The net incomes per portion have increased from 16.5c to 20.4c through the old ages. Even though there was a bead in the value due to the temblor, within 3 old ages it has increased to 20.4c. And the portion monetary value of Restaurant Brands is presently $ 4.02 which is pretty sensible for the market. Net dividends distributed are 15,653. 2008 2009 2010 2011 2012 2013 2014 Net incomes per portion ( full twelvemonth ) 8.6c 8.5c 20.1c 24.9c 17.3c 16.5c 20.4c Ordinary dividend per portion 6.5c 7.0c 12.5c 17.0c 16.0c 16.0c 16.5c Table 4: Net incomes and Dividends from 2008 boulder clay 2014( restaurantbrands.co.nz ) Figure 4: Stock Price for Restaurant Trade names( restaurantbrands.co.nz ) The below chart shows the net income border of the company ; in 2013 it is 5.2 % and in 2014 it is 6 % which shows the addition in its profitableness. And the debt to plus ratio shows the companyââ¬â¢s purchase ; in 2014 its 21 % . For a nutrient based industry these ratios are good. The companyââ¬â¢s current ratio is 0.16 which is reasonably bad since the company is franchise based, leases most of the shops and for a nutrient based industry there is batch of revenue enhancements. Figure 5: Net income Margin and companyââ¬â¢s purchase Decision and Recommendation Restaurant Brands is a good established company which has put itself in a place to turn and it is now good rooted. Opening shops like Carlââ¬â¢s Jr brought net income in twosome of old ages and the company shows enlargement. Harmonizing to the fiscal studies the company is making good and it is taking towards changeless addition in income. To be a portion in one of the worldââ¬â¢s best eating houses like KFC and Starbucks can convey pride and income for Portfolio Managers Ltd. ; and Restaurant trade names can decidedly be a tract for this new venture. The possible base of Restaurant Brands in the market and the companyââ¬â¢s profitableness and fiscal strength ; it can be concluded that Portfolio Managers Ltd. can buy portions and put in Restaurant Brands. Mentions Restaurant Brands ( 2015 ) . Available at: hypertext transfer protocol: //www.restaurantbrands.co.nz. Page1of10
Tuesday, November 5, 2019
Fedex Case Study Essays
Fedex Case Study Essays Fedex Case Study Essay Fedex Case Study Essay Fed Ex Case Issue: Federal Express is a strong recognizable brand with growth potential, but the company faces a multitude of challenges with rising fuel prices, increased value of living, as well as a decline in the economy. FedEx also encounters issues with competition and even negative publicity due to various lawsuits involving violations against EEOC laws and regulations. SWOT Analysis: Strengths: Best leader in express shipping o 99% of deliveries are on time Expansion of operations into international markets o Purchase of Tiger International Strong brand image associated with products, quality, and reliability Weaknesses: Expensive compared to other services Increased amount of debt Decreased expansion in Europe Opportunities: Expansion of online consumer services Offer larger variety of shipping services Global business growth Threats: Technological advancements o E-Commerce Competition o Overnight delivery market matured rapidly Rising fuel prices Decline in worl dwide economy Rising costs associated with employee salaries and benefits Negative publicity due to lawsuits Critical SWOT Factors: Federal Express needs to focus on their strengths in the company, as well as pursuing their opportunities. FedEx built its foundation on being the fastest and most reliable postal service in the United States, and has taken these principles overseas in foreign markets. The FedEx brand name and image is critical toward the companyââ¬â¢s on-going success and future growth opportunities. Being globally known, as well as having a strong foothold in almost every country will allow FedEx customers to more willingly accept new services offered by the company. Such factors for expansion and competitive advantage will include offering online services. The world is becoming more technologically advanced day by day, with the use of Internet services; FedEx will be able to adhere to the worldââ¬â¢s online progression. Currently, FedEx is aggressively moving into e-commerce in order to fulfill business-to-business and business-to-consumer merchants. Moreover, the company needs to focus more on reducing their labor costs, as well as finding a way to decrease fuel costs. With the price of oil rising continually each year, FedExââ¬â¢s fuel costs have risen up to 30% within the past three years. : Despite the fuel costs, the companyââ¬â¢s labor costs have risen even higher; the largest expense FedEx endures. This is immensely critical since the company has suffered a multitude of lawsuits regarding unfair pay. According to EEOC laws, FedEx is still under investigation whether the company is violating terms and policies under Title VII of the Civil Rights Act. The distinction between independent contractors and employees for the company is imperative, because under the federal law, if the company treats the contractor as an employee, the company has certain legal obligations, such as overtime pay and withholding taxes. If FedEx is in violation of these laws and more lawsuits continue to sprout, the company may be in jeopardy of losing their strong and loyal brand image that has been built upon for decades. . Alternative Solutions: 1. Federal Express should move toward integration of expansion within e-commerce to an online subsidiary for consumer retailers. By collaborating with a large and well-known retailer such as WalMart or Target, FedEx would strengthen not only its name, but also its revenue within the marketplace. FedEx could integrate with a retailing company by partnering with each other. Therefore, they would be able to share benefits with and increase each companyââ¬â¢s revenue. For example, if FedEx integrated with WalMart, WalMart would be able to have discounts on shipping products and goods. Likewise, FedEx would be able to always have a buyer that would represent a majority of their profits, further increasing revenue. Also by collaborating, both companies will gain more market power and increase their brand image. Through e-commerce strategies, both companies could increase their technological strengths and online consumer industry growth power, by providing faster and more efficient shipping for consumer needs. Technological advancements and use of products and services over the Internet will provide opportunities and expansion in the future years for FedEx. Another long-term advantage would be increased publicity. Any company engaging in a new marketing plan, especially through e-commerce will become noticed through public relations. Allowing consumers to shop online with the integrated company will allow the products they purchase to be delivered even faster and as time goes by, product shipping may even decrease in price. If FedEx decides to collaborate with a retailer, the company should focus an immense amount toward promotional efforts, using multiple media outlets. There could be traditional media used, such as television, radio, newspaper, and magazine advertisements. Then, FedEx could spend time developing its social media through Facebook and Twitter, using promotional tactics by giving free samples, coupons, and discounts. The company can spend more on e-marketing using the pay-per-click techniques by becoming first on every search engine page and spending money for their advertisements to appear on banners. This will hopefully also increase word-of-mouth communication through brand loyalty and customer satisfaction. The technology market is growing rapidly in every product and service industry. It is imperative to focus on this aspect in order to gain a greater amount of market share, especially by merging and sharing services with a well-known and respected retailer. 2. Federal Express can increase their revenue, as well as their services by allowing consumer travel options. The company already has one of the largest airlines in the world, and has thousands of skilled employee pilots. FedEx could offer last minute discounted airline tickets to the public in order to gain additional revenue from already existing system transportation use. This would be immensely feasible and easy to execute. FedEx is already a well-trusted brand name. Consumers would feel safe to fly with the company. Also, transportation has established itself as fast, efficient, and reliable. FedEx is the clear leader in express shipping with 99% of deliveries being on time. This means, consumers would have no worries of missing their flight or anticipation of delays. Everything runs smoothly with Federal Express; ââ¬Å"Our absolutely, positively spirit puts our customers at the heart of everything we do,â⬠states one of the six themes that frame FedEx efforts. The target audience for these discounted tickets could be anyone, especially since FedEx transports nearly everywhere. With the decline of the economy and fuel prices on the rise, consumers will be more than eager to purchase discounted airline tickets. Likewise, there is usually space on FedEx aircrafts that is never put into use. By selling discounted tickets, this will increase revenue for FedEx and create an entirely new segment of services. Distribution of airline tickets would be on a first-come, first-serve basis. Likewise, ticket prices would be based on travel-time and current market price, and then the tickets would be reduced accordingly. Promotion of these airline tickets would be seen through every media outlet, but mostly e-marketing. Brand loyalty programs would be implemented, allowing the most loyal customers of FedEx to be given the opportunity to take advantage of the discounted air travel first. With the prices of fuel steadily increasing and the economy still discouraged, Federal Express can create opportunities or consumers, as well as themselves. Discounted airline tickets flying with FedEx could be a giant step in the companyââ¬â¢s future. 3. Federal Express needs to focus on employees, making sure all personnel working for FedEx is treated with respect and lawful expectations. Throughout the past several years, FedEx has received many lawsuits pertaining to EEOC laws regarding unfair pay and benef its. A major lawsuit pertained to the FedEx Ground/Home Delivery drivers regarding whether they are independent contractors or employees of the company. The company is controlling almost everything about the ââ¬Ëindependent contractors,ââ¬â¢ even prohibiting them from working for other companies. FedEx strictly dictates working hours and routes, requires them to wear FedEx uniforms and purchase company scanners, and enforces all company rules upon them. Under EEOC laws, these conditions constitute for the ââ¬Ëindependent contractorsââ¬â¢ to be employees under federal law. This factor is significant, for employees are entitled to certain benefits and compensation such as, overtime pay and withholding taxes. Federal Express has built part of its image upon the companyââ¬â¢s enviable corporate culture and workforce. The company has even been named as one of the ââ¬Å"100 Best Companies to Work Forâ⬠and one of the ââ¬Å"Worldââ¬â¢s Most Admired Corporationsâ⬠from Fortune Magazine. If FedEx really prides itself with its care and respect for its workers, they would adhere to EEOC laws. Likewise, if FedEx can clear up their policies and pay to their workers, the company would gain positive publicity. This would amplify the companyââ¬â¢s positive reputation even more, increasing their brand image as a whole. In addition, to gain competitive advantage over competitors in regards to employees, FedEx should reassign teams from one project to another to effectively distribute people with critical talent, instead of assign employees to specific business units. Using job enlargement, as well as job enrichment will provide employees and workers with a sense of autonomy that will help increase motivation and productivity. This would also allow for pay cuts and employee dismissals for those who are not fulfilling duties or are not a major asset to the Federal Express team. It is vital to the company to terminate those who lack high productivity. FedEx then can focus on compensating those who greatly contribute their skills and knowledge toward the company. With the cost of living steadily increasing, FedEx needs to reward employees who implement the best abilities in continuing to strengthen the company and foresee its growth and expansion opportunities. Recommendation: The best recommendation for Federal Express would be to integrate and collaborate with a consumer retailer and to focus the integration through e-commerce. FedEx is the clear leader in express shipping, controlling more than 49% of the market in the United States. By building a relationship and a lifetime value customer with a large consumer retailer, FedEx will begin to create a competitive advantage over almost all other postal services. One of the greatest strengths of FedEx is their brand image and customer loyalty. Expanding on these strengths to create new service online will easily be accepted and used by current customers, as well as potential consumers. Also in long-term results, FedEx will be able to reduce shipping costs. By collaborating with a major retailer, FedEx will begin to increase revenue, thus reducing shipment costs through purchases made within the retailer. E-commerce will enable FedEx to expand more internationally. There has been tremendous growth within the Asian market, but FedEx has not had success with its European markets. After the e-commerce strategy underway, FedEx can emerge in European markets once again, establishing information networks in each country. The company will now have the global infrastructure to support its operations. Likewise, the FedEx international foundation will be much stronger and more developed; therefore increasing global market power. Federal Express will also be able to increase positive publicity not only in the United States, but in foreign markets as well. The new overseas operations will be a gateway toward more employment options, creating new opportunities for FedEx to expand. FedEx will also begin to expand its distribution methods by creating more service options overseas. The vast target market of FedEx has the potential growth to expand in nearly every country, especially when integrated with another global company; the opportunities are endless. FedEx will need to change their advertising and marketing plan in order to become successful in e-commerce. Using traditional media, as well as e-marketing and social media will enhance its awareness. Promotional efforts will be imperative toward increasing brand recognition and the integration of two company offerings. FedEx could offer free shipping, coupons, and discounts to new customers. There could also be a loyalty program for returning customers to increase loyalty and promote word-of-mouth communication. Technological advancements, as well as expanding target markets are one of FedExââ¬â¢s greatest opportunities to improve its success and growth in the marketplace. Federal Express is a mature, recognizable company with a great amount to offer.
Sunday, November 3, 2019
Business Commuication Writing Assignment Example | Topics and Well Written Essays - 500 words
Business Commuication Writing - Assignment Example 190). This is not the case because this act will create gaps in an applicantââ¬â¢s resume and gaps between jobs are not appreciated by an interviewer or screener. This will make the screener believe that an applicant is incompetent and due to this, he had failed to find jobs. It is wrong to state employment in an organization in which an applicant has not worked at all, because the human resource team has a huge network and they know other individuals of the human resource management department of other organizations and can easily obtain information about a particular individualââ¬â¢s employment with another organization. The human resource management team even has contacts with the government and can easily obtain background information about a particular applicant. It is okay to provide a photograph attached with the resume because a photograph provides a lot of information about a particular applicant, such as personality and looks which are quite important for recruiters. Even if the photograph provides information that may help the recruiters in making a biased decision, there is no harm in it because the same information is provided in the resume by the applicant. Those applicants that show an ââ¬Å"Iâ⬠attitude or, in other words, those who try to paint a picture that they can perform alone are not welcomed by current recruiters because recruiters today try to locate applicants and employees who have an ability to work along with a team. Those who show an individualistic attitude fail to pass the interviewing phase as recruiters know that today an individual cannot perform alone and needs a team to perform a task. An applicant might be told by many that they should be deceptive in their CVs, but this is not true as deceptive CVs and those that are not deceptive are treated equally, and CVs do not ensure that an applicant will get a job; rather, they ensure that an applicant will get a
Friday, November 1, 2019
Forensic Archaeology Assignment Example | Topics and Well Written Essays - 2250 words
Forensic Archaeology - Assignment Example Popular but somewhat not realistic perception and understanding of forensic science has brought much awareness in public and government and has influenced the court system, that it is now called ââ¬Å"CSI effectâ⬠(Toobin, 2007). Forensic archaeology, defined and considered a specific emerging field, consists of tools, techniques and methods, developed for archaeological research purposes, to assist legal investigations. Forensic archaeologists are usually the members of faculty of archaeology deployed to work in close coordination with expert search teams, forensic entomologists, forensic botanists and forensic pathologists to find and investigate buried evidence at crime scenes. Forensic archaeology assists in investigating genocide, war crimes, crimes against humanity, mass disaster victim recovery, and repatriation of war dead (Hunter & Cox, 2005). Forensic archaeology helps to discover and solve the events pertaining to a specific crime scene or disposal site. Generally, each crime scene brings its own unique set of questions requiring answers to unveil the truth as the circumstances of each investigation differ considerably. The questions may include but not limited to the way grave was dug, identities of buried persons, during for which bodies remained buried and presence of any other material in graves that may assist investigations. Constrained by limitation of time and opportunities to access the evidence site, forensic archaeologists devise specific strategies and employ appropriate techniques or a series of methods to optimize the evidence for search and recovery of truth. Thus forensic archaeologist strive to identify the understand the events prior to and around the death and burial, method of death and tools used for burial, and thus help to identify the party or parties involved in crime (Miller, 2010). Usefulness o f Involving Archaeologists Forensic archaeology has several key roles in international war crime investigations including searching, locating and confirming the site such as mass graves, surface scatters and execution sites; excavation, recording, retrieval, recovery, preservation and analysis of evidence. These roles provide sufficient information to determine the existence or refute of a crime, identification of the human remains, their ethnicity, culture, geographical origin, time frame of death and reconstruction of crime scene, the actions of perpetrator and perpetratorââ¬â¢s identity. Such information helps in successful criminal prosecution and identification of victims (Oxenham, 2008). Repatriation of missing and identification of dead in a genocide or war has been the main focus of such forensic archaeological investigations taken place from a humanitarian view. It is worth mentioning that the evidence, which was initially thought to be of humanitarian interest, is now u sed to assist criminal war investigations. In such investigations, the extent to which evidence is required may not be established at initial stages, thus resulting in maximum evidence recovery, high standards of evidence integrity and ability to preserve evidence are emphasized to mitigate any associated risks. Maximum evidence recovery helps to identify victims, reconstruct crime scene and corroborate the witness statements. There are many benefits of collection and analysis of evidence including recovery of remains for proper burial, identification of remains, repatriation of missing, human rights and deterrence to similar incidences. Different artifacts retrieved from crime scene provide information on past events surrounding
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