History of Starbucks - 991 Words

History of Starbucks Starbucks started in 1971 when three academics opened a store called Starbucks Coffee, Tea and Spice in Pike Place Market in Seattle. The three academics, writer Gordon Bowker, English teacher Jerry Baldwin, and History teacher Zev Siegel, shared a passion of exotic teas and fine coffees and believed that in Seattle, they would be able to build a clientele. Each academic invested $1,350 and borrowed $5,000 from a bank to open the original Starbucks. Baldwin, Siegel and Bowker chose the name Starbucks in honor of Starbuck—the coffee-loving first mate in Herman Melville’s Moby Dick. At least, that is what the legends are. They believed the name evoked the romance of the high seas and the seafaring tradition of the†¦show more content†¦Upon his return home, it took Schultz nearly a year to convince Baldwin to let him test an espresso bar. Starbucks’ sixth store, opened in April 1984, became the first one designed to sell beverages and the first one in downtown Seattle. There was no pre-opening marketing blitz and no sign announcing Now Serving Espresso, the lack of fanfare was part of a deliberate experiment to see what would happen. By closing time the first day, some 400 customers had been served, well above the 250 customer average of Starbucks’ best-performing stores. Within two months, the store was serving 800 customers per day. Schultz made up his mind to leave Starbucks and start his own company in 1985. His plan was to open espresso bars in high-traffic downtown locations that would emulate the friendly, energetic atmosphere he had encountered in Italy. Ironically, as Schultz was finalizing the documents for his new company, Baldwin announced he would invest $150,000 if Starbucks’ money in Schultz’s coffee-bar enterprise, thus becoming Schultz’s first investor. Bowker and Baldwin helped Schultz with his plans over the next six months. Schultz continued with his esp resso bar, Giornale. In March 1987, Baldwin and Bowker decided to sell the Starbucks operation in Seattle—the stores, the roasting plant, and the Starbucks name. Bowker wanted to cash out his coffee-business investment to concentrate on his other enterprises; Baldwin elected to concentrate on the Peet’sShow MoreRelatedHistory of Starbucks1148 Words   |  5 PagesHistory of Starbucks Starbucks is the leading retailer and roaster for brand specialty coffee in the world. Starbucks corporation is an international coffee and coffeehouse chain based in Seattle Washington. Starbucks is the largest coffeehouse company in the world, with over 16,000 stores in 94 countries such as: Asia, Europe, and the Middle East (Sewer, 2004). Starbucks sells drip brewed coffee, espresso-based hot drinks, other hot and cold beverages, snacks, pastries and items such asRead MoreThe History Of Starbucks. Essay1804 Words   |  8 PagesThe History of Starbucks The first Starbucks opened in the 1970s located in Seattle Washington historic Pike Place Market. The name comes from Herman Melville’s Dick, a classic American novel about a 19th century whaling industry. The original name was Starbucks coffee, Tea and Spices and then later changed to Starbucks Company. Starbucks founders were three academics an English teacher Jerry Baldwin, History teacher Zev Sigel and Writer Gorden Bowker. They each invested $1350 and borrowed $5000Read MoreStarbucks History : Starbucks s Coffee2998 Words   |  12 PagesStarbucks History Starbucks began in 1971 when the first store opened in Seattle, Washington. Jerry Baldwin, Zev Siegl and Gordon Bowker got the idea to start a coffee store from Alfred Peet (of Peet s Coffee fame). The store originally only sold coffee beans and coffee making equipment (History of Starbucks, 2013). Ten years later, current CEO and chairman of Starbucks, Howard Schultz was so impressed by his first taste of coffee, he urged Baldwin to hire him. As Director of Retail OperationsRead MoreGeneral Information / History : Starbucks1062 Words   |  5 PagesGeneral Information/History Starbucks Corporation is a specialty coffee retailer, roaster and marketer internationally. Jerry Baldwin, Zev Siegl and Gordon Bowker established the first stand-alone Starbucks coffeehouse was opened in Seattle, Washington in 1971. In 1987, the original founders sold the company to the present CEO Howard Schultz for $7 million (â€Å"Starbucks Corporation†). Currently having 22,519 retail stores worldwide, Starbucks has developed into the largest coffeehouse company globallyRead MoreHistory and Progress of the Internationalization of Starbucks in China908 Words   |  4 Pagesï » ¿History and Progress of Starbucks Internationalization in China Emerging Market Cultural Environment Initial entry strategies. Starbucks articulated an entry strategy that was designed to be as inoffensive to the Chinese culture as possible. Instead of taking the conventional approach with advertising and promotions which could have been seen by potential Chinese consumers as attacking their culture of drinking tea they positioned stores in high-traffic and high visibility locations. MoreoverRead MoreHistory, Development And Growth : The Starbucks Corporation4307 Words   |  18 PagesArjita Saxena Dinesh Cheedu â€Æ' 1. History, Development and Growth: The Starbucks Corporation (referred as â€Å"the company†) is worldwide recognized in delivering one of the best coffees to their customers within minutes. The first Starbucks shop was opened in 1971 in Seattle’s historic park called Pike Place Market with the help of Gorden Bowker, Zev Siegl, and Jerry Baldwin. Initially, the store sold coffee beans and coffee making products versus the drinks. Starbucks derived their company name fromRead MoreHistory And Outlook Of A Popular Chain Coffee Shop, Starbucks1134 Words   |  5 Pagesâ€Å"Brewing Innovation,† an article by Shezray Husain, Feroz Khan, and Waqas Mirza in 2014 for London Business School, focuses on the history and outlook of a popular chain coffee shop, Starbucks. By discussing a brief history of the cafà © brand and its rise and fall through the economic crisis of 2008, it was clear that the company managed so proficiently due to strategic moves made by leadership. The article explored how the compa ny centered it focus on its consumers and building itself a priorityRead MoreTo Invest or Not Invest in Starbucks Corporation, That Is the Question1707 Words   |  7 Pagesreader whether or not investing in Starbucks Corporation will prove a lucrative endeavor. A company is a system of interconnected parts and therefore cannot be analyzed by a single component, but through an integrated approach. The report will analyze the company’s health through integrating both qualitative and quantitative factors in order to formulate a decision based on the multidimensional nature of a company. By analyzing the qualitative aspects of Starbucks, the reader can gain a better understandingRead MoreStarbucks Financial Analysis1739 Words   |  7 PagesStarbucks Financial Analysis Financial Analysis of the Starbucks Corporation 2401 Utah Avenue South Seattle, Washington 98134 (800) 235-2883 Financial Analysis of the Starbucks Corporation Company Overview Starbucks is the world’s largest specialty coffee retailer, Starbucks has more than 16,000 retail outlets in more than 35 countries. Starbucks owns more than 8,500 of its outlets, while licensees and franchisees operate more than 6,500 units worldwide, primarilyRead MoreStarbucks Case Study Essay1733 Words   |  7 Pages 1. In the beginning, how was Starbucks different from other coffee options for coffee drinkers in the United States? What activities and assets did Starbucks leverage to differentiate itself from competitors? 2. When Starbucks was rapidly expanding its store locations in 2006–2009 it made specific changes in order to facilitate that growth. What did Starbucks gain—and give up—as a result of each change? 3. When Schultz returned to Starbucks as CEO in 2008, how had the competitive context changed

Plato s Apology And Ralph Waldo Emerson s On Self Reliance

Through Plato’s Apology and Ralph Waldo Emerson’s â€Å"Self-Reliance† both contend that living an unexamined life is living a life of ignorance and futility. On the other hand, living an examined life is living an enlightened life full of intelligence. I agree with Plato and Emerson’s similar ideas that without knowledge, life as it is, is not worth living. They both argue that having personal beliefs creates an intelligent society. Having knowledge allows for one to set goals and objectives to achieve within a lifetime, which gives purpose to one’s life. In Plato’s â€Å"Apology†, Plato tells the story of Socrates, a philosopher from Athens, Greece, who is accused by three men, a poet, a scholar and a politician for having opposing beliefs. His charges are all based on the fact that he is a natural philosopher and that he believes what is considered not to be the social norm. One of the charges he faces is that he is accused of being â€Å"a doer of evil, and corrupts the youth† (Plato, 198). Socrates is assumed to be someone who only harms others because he is considered to be evil. They admit that since he does not care to accept what they consider to be true, then he must be doing evil. Socrates is charged with corrupting the youth with his knowledge, yet when he addresses it to his accusers and the court, he questions the charge by stating that if Meletus, his accuser, is charging him of corrupting the youth then, â€Å"Come hither. Meletus, and let me ask a question of you. YouShow MoreRelatedCleanth Brookss Essay Irony as a Principle of Structure9125 Words   |  37 PagesMarx’s system. On the contrary, our underlying premise here is the belief that in Marx’s theory and method the true method by which to understand society and history has finally been discovered. This method is historical through and through. It is self-evident, therefore, that it must be constantly applied to itsel f, and this is one of the focal points of these essays. At the same time this entails taking up a substantive position with regard to the urgent problems of the present; for according to

Writing a Formal Letter/Example Free Essays

Dear Mr. Patel, According to your interview, we understand that you are strictly against the usage of cellphones despite the fact that there are many good reasons to use them . I wanted to say that I both agree and disagree with your opinions at different points. We will write a custom essay sample on Writing a Formal Letter/Example or any similar topic only for you Order Now At the beggining of the interview, you mentioned people’s attention was taken away from the substantial things in life and also claimed that the dissapointment of not recieving any texts made them upset or rather neurotic. Afterwards continued with remarking cellphones are somewhat compelling and said they threaten our lifes if used whilst driving. Also pointed out the common puctuation error which children make because of the language they use when they write a text and said there were distractions in classes and alleged the use of cellphones as a reason. You told the interviewer cellphones assaulted one’s privacy and solitude and people looked silly whilst talking with cellphones then declared that you would rather be without a cellphone. The interviewer stated some opinions of his, converse to your opinions. Disagreeing with the opinions againt the usage of cellphones, he affirmed that it was essential four communicating with one’s children and informing people if one’s car broke down or is going to delay. He added there were not many telephone land lines in some places such as Africa, which made cellphones useful. Then ended his words with saying cellphones have a great role in solving crime. Whilst I agree with half of your opinions such as texting and driving threatens lifes and they ruin our peace and solitude, I do not agree with you on your opinions of children distraction. Although most of the children use cellphone, not all of them are distracted or making punctuation mistakes. Before being this prejudiced about cellphones, please consider the advantages of them. It might be the best to try reduce the usage without utterly rejecting them. Yours sincerely Related essay: â€Å"Co Curricular Activities Letter† How to cite Writing a Formal Letter/Example, Essay examples

Pitch Perfect Movie Critique free essay sample

American  musical  comedy film  directed by  Jason Moore. The screenplay was written by  Kay Cannon. The musical comedy features an  ensemble cast  consisting of  Anna Kendrick,  Skylar Astin,  Rebel Wilson,  Anna Camp,  Brittany Snow,  Ester Dean,  Alexis Knapp, Hana Mae Lee, Ben Platt,  Adam DeVine, with  John Michael Higgins, and  Elizabeth Banks. The plot follows an all-girl college a cappella group, The Barden Bellas, as they compete against another a cappella group from their college to win Nationals. Beca Mitchell (Anna Kendrick), newly arrived freshman at Barden University, has no desire to attend college, but she is forced to do so by her father (John Benjamin Hickey), a professor at the university. Wishing she could instead move to  Los Angeles  to pursue a career in music making, Beca takes up an internship at the school radio station, where she meets fellow freshman Jesse Swanson (Skylar Astin), who develops a crush on her. When Becas father discovers she has not been attending classes, he comes to her with a proposition: if she joins a club and still does not want to remain at college after a year, he will allow and pay for Beca to move to Los Angeles. After some persuasion from group leader Chloe Beale (Brittany Snow), she reluctantly joins the all-girl  a cappella  group Barden Bellas. Aubrey Posen (Anna Camp), another group leader doesnt initially approve of recruiting Beca, but yields nonetheless due to a desperate need for members and Becas own talent. Beca joins alongside a group of other women who do not fit the Bellas typical mold: the misunderstood Cynthia-Rose (Ester Dean), the sex-obsessed Stacie Conrad (Alexis Knapp), the quiet Lilly Onakuramara (Hana Mae Lee), and the eccentric Fat Amy (Rebel Wilson). At group rehearsals, Aubreys uptight and controlling nature gets on the nerves of the other girls, especially Beca. She is constantly critical and insists that they use the same set list the Bellas have been using for years. Meanwhile, Beca continues hanging out with Jesse, who has joined the Treblemakers, the Bellas main rival. After learning that Beca doesnt like movies, Jesse tries to get Beca to watch  The Breakfast Club. Meanwhile, the Bellas participate in the southeastern regional competition at Carolina University. In spite of their distasteful and old set list, the group manages to place second, which gives them the bid to semi-finals. A brief scuffle after the competition leads to Becas arrest by the police. Jesse tries to help by calling Becas father, which infuriates Beca and turns their budding friendship sour. A series of complications during the road trip to semi-finals forces the Bellas to get a ride from the Treblemakers, led by Bumper Allen (Adam DeVine), and some smack talk ensues. Once at the semi-finals, Beca notices how bored the audience is with Aubreys traditional and overused arrangement, so she provides an impromptu back-up. The Bellas come in third in the competition behind the Treblemakers and the Footnotes; even though the audience seemed to enjoy Becas remix, Aubrey becomes furious and yells at Beca, who quits the group. When the Footnotes are disqualified after the discovery that their lead singer is still a high school student, the Bellas are called to the national competition in their place. The Bellas get back together after returning from spring break, with the notable exception of Beca. During this time, Beca begins working as a  DJ  at the Barden radio station, playing her music on the overnight shift while also steadily distancing herself from Jesse. Upon finding a copy of  The Breakfast Club  and watching it on her own, however, she realizes how much she needs the Bellas and Jesse in her life. Her father convinces her to rejoin the Bellas, whom she finds falling apart during rehearsal. After having a group heart-to-heart conversation, the Bellas appoint Beca as their group leader and decide to adopt Becas more modern and original music style. Meanwhile, Bumper leaves the Treblemakers after being offered a job as a back-up singer for  John Mayer. With Nationals approaching and the group short a member, Jesse becomes the new group leader and persuades the Trebles to allow Benji (Ben Platt), Jesses roommate, to join the group in Bumpers place. At the a cappella national competition at the  Lincoln Center, the Bellas sing a piece arranged by Beca. After their performance, Beca reunites her and Jesse with a kiss. Six months later, auditions are beginning for the new year while the Treblemakers and Bellas are preparing to select new members for their groups; Jesse and Benji are shown sitting at a desk in the audition hall, followed by Beca and the Barden Bellas, along with their trophy from nationals. As for the film itself, I highly praised it for its comedic approach as well as the film’s flashy musical numbers. It also has bouncy vocal rearrangements of pop songs, sparkling choreography and a hilarious script make for a movie that’s made to be obsessed over, seen 50 times. I could take one of the finest sequences as evidence, the â€Å"riff-off† between the boys and the girls, a West Side Story-style showdown that plays out with shards of songs instead of switchblades. Its spirited a capella singing makes a predictable, feather-light coming-of-age film irresistibly fun. Imagine it without music, the movie might have been painful, but the songs, Auto-Tuned and processed as they are, generate a hooky bliss. They are the chewy center of this ultra-synthetic hard candy. Lets take it from the top: Kendrick is a delight. Not only can she act though we knew that already from the wonderful  Up in the Air   she can also sing! Plus, special kudos to  Rebel Wilson, who’s subversively awesome Fat Amy wont be forgotten anytime soon. In fact, all of the a cappella troupes assembled here (or the voices behind them) are awesome. Never mind that theyre kitschy and earnest and seriously competitive about their craft (which, in some circles, is considered decidedly not cool). The beauty of it is they dont care; they just want to make music. Overall, it’s a joy to watch a comedy like this, which wraps you up in belly laughs and catchy songs and makes whatever ails you seem far, far away. Pitch Perfect  pokes fun at a cappella performers of all stripes, but mostly with lots of heart and pride. That said, sometimes the film cant quite seem to decide whether it champions young women (which on the whole, it appears to) or not. The fat jokes can be wince-inducing, though Wilson makes them work; the liberal use of the words slut and bitch to refer to women is also a concern. (Still, the most obvious misogynist does get called out, and in a delicious way. ) It also relies a little too heavily on a gross-out vomit meme. These complaints aside,  Pitch Perfect  hits lots of the right notes and will leave you in stitches and singing long after the credits roll.

Joy Daycare Marketing Plan

Joy daycare advertising strategy and how it aligns with its marketing goals Advertising is an indispensable marketing tool especially for new businesses. Advertising enables a company to heighten products/services awareness among potential consumers (Fisk, Grove John, 2008). If effectively executed, advertising is capable of increasing sales and generating immense revenues.Advertising We will write a custom report sample on Joy Daycare Marketing Plan specifically for you for only $16.05 $11/page Learn More However, the tricky part is how to come up with effective strategies especially for small business like Joy daycare center. The main marketing goal for Joy daycare center is to increase its market share steadily with a targeted growth rate of 10% p.a. To achieve this objective, with we will engage the services of a website hosting provider to ensure that the business maintains on-line presence. This strategy was chosen because most parents are conduct ing their activities (shopping, classes) online, thus they are likely to be looking for child care services via the same medium. Secondly, flyers, brochures and business cards bearing Joy daycare logo will be designed and strategically distributed within the neighborhood. How the effectiveness of the advertising will be measured According to Fisk, Grove and John (2008), the effectiveness of advertising strategies should be measured based on the initial objectives for carrying out this campaign. Joy daycare advertising and promotional strategies were designed in order to inform customers about our services and by so doing increase sales. Moreover, promotional strategies strengthen brand image among existing customers. We will test awareness based on the number of enquiries we receive from potential customers seeking further information. Secondly, the brand image and sales objective will be measured based on the number of inquires we receive via the various communication mediums suppl ied in the adverts. Furthermore, we will also follow up to establish whether these inquires translates to sales. Promotional strategies that may be used in addition to advertising The center will design hats, t-shirts, mugs and bookmarks bearing Joy daycare logo and contact details, distribute them among existing parents, and give them extra ones to take to their friends. We will regularly conduct regular community clean-up activities and request parents to invite other families. A Christmas concert for children both members and non-members will be organized. Measuring customer satisfaction for Joy daycare services According to Hayes (2008), customer satisfaction is the key to businesses success. High level of customer satisfaction has been associated with increased customer loyalty which eventually increases a business market share and profitability. Furthermore, high level of customer satisfaction promotes word of mouth advertising, whereas low satisfaction will lead to service/ product switching (Hayes, 2008). On this note, a customer satisfaction measure thus becomes a critical tool in marketing since a marketer has to keep track on whether their product/service is meeting their customer expectations (Fisk, Grove John, 2008).Advertising Looking for report on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More To begin with, the center will introduce a customer care desk that is going to facilitate customer care surveys. Secondly, two questionnaires will be designed. The first questionnaire is for new customers and they will be given to new parents on the first day. This questionnaire will contain simple questions where parents will be requested to list their expectations about child care services. The second questionnaire will be administered to continuing customers whereby they will be asked to state what they like or do not like about Joy daycare services. Questions in this second questionnaire will be designed to measure four levels of customer satisfaction; Satisfaction based on the quality of our training programs Satisfaction based on the flexibility of our working hours Satisfaction based on our staff friendliness Satisfaction and loyalty e.g. would you recommend Joy daycare to other parents? Why (not)? These answers will be quantified on a weekly basis, to ensure that we are packaging Joy daycare center attractively to our customers. How gaps in customer expectations and experiences will be addressed Customer satisfaction is an individual’s evaluation of a product/service based on preconceived expectations (Fisk, Grove John, 2008). Although we try to maintain high level of customer service, some instances of service failure might be inevitable due to circumstances beyond our control. On this note, the following strategies will be adopted to facilitate service recovery (Fisk, Grove John, 2008). Apparently, every parent within our target market has his/her o wn expectation about the kind of pre-school training programs they would wish their children to receive. Therefore, it is expected that some instances of dissatisfactions are likely to arise. To contain this likely customer satisfaction failure, it is upon Joy daycare customer care representative to make the parents understand why our chosen curriculum is better than the rest in the market. Joy daycare will operate a flexible schedule that is likely to be suitable across the entire target market. To address staff friendliness gap, we will ensure that our staff receive constant training in customer service. Most importantly, a customer service representative will always be present to deal will extreme cases of customer dissatisfaction. For instance, a child may get hurt within our premises and an irate parent engages our staff in unpleasant scene. In such a situation, the customer care representative will try to contain the parent, and as part of our responsibility to contain service failure, 50% of the medical bills will be catered for by Joy daycare center.Advertising We will write a custom report sample on Joy Daycare Marketing Plan specifically for you for only $16.05 $11/page Learn More References Fisk, R. P., Grove, S. J. John, J. (2008). Interactive services marketing. Boston: Cengage learning. Hayes, B. E. (2008). Measuring customer satisfaction and loyalty: survey design, use, and statistical analysis methods. Milwaukee, Wi: ASQ Quality Press. This report on Joy Daycare Marketing Plan was written and submitted by user Jillian Farmer to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here. Joy Daycare Marketing Plan

Newspaper article on the events at Deir Yassin.

Newspaper article on the events at Deir Yassin. What really happened in Deir Yassin? Who was responsible? What has its effect been? Read on to find out...Early in the morning of Friday, April 9th, 1948, commandos of the Irgun, headed by Menachem Begin, and the Stern Gang attacked Deir Yassin.Deir Yassin was a village with about 750 Palestinian residents. The village lay outside the area that the United Nations recommended be included in the future Jewish State. It had a peaceful reputation and had even driven out some Arab militants. It actually had a peace pact with Givat Shaul, the head of the Arab division of the Haganah intelligence. But it was located in a corridor between Tel Aviv and Jerusalem and some groups wanted it destroyed so it could become a small airfield.The attack went poorly, because, as Haganah intelligence reported, the two dissident groups had no training, no coordination and no knowledge of how to provide cover fire or carry out leap-frog attacks in which squads provide each other with cover in turn.Map show ing Deir Yassin in relation to Jerusalem i...However, by noon over 100 people, half of them women and children had been systematically murdered. Four commandos died at the hands of resisting Palestinians using old Mausers and muskets. Twenty-five male villagers were loaded into trucks, paraded through the Zakhron Yosef quarter in Jerusalem, and then taken to a stone quarry along the road between Givat Shaul and Deir Yassin and shot to death. The remaining residents were driven to Arab East Jerusalem.There was a final body count of 254 was reported by the New York Times, but the number was disputed and is said to be anywhere from 120-254.People often ask what was the Stern and Irgun's purpose for massacring a whole village was, and it is considered by some that they mainly wanted...

Improving organisational and employee performance Essay

Improving organisational and employee performance - Essay Example In order to improve an organisation’s performance, this must occur at both the organisational level and employee levels. At an organisational level, there is adoption of SHRM. SHRM deals with ensuring integration of HR strategy to the corporate one by maintaining competence of their workers to attain a competitive edge in the business environment. SHRM process encompasses coming up with a mission; carrying a close study of the environment and developing a strategy, executing it and gauging its success. From the foregoing, strategies have their formulation at different levels, which may be corporate, business or even functional. SHRM Models involve first, the business oriented one that concentrates on those functions which attain strategic advantage for a firm. The other is the strategic-fit supposed to align any given entity’s strategy to that of the business. We also have the SLAP Model that advocates for interdependence of the business, corporate as well as HR strateg ies. Therefore, an approach to SHRM may be Instrumental, Humanistic or even universalistic. Moreover, a well implemented SHRM concept can yield such advantages as attaining competitive advantage as well as bring coordination for an organisation. However, there are factors known to limit proper SHRM implementation, for instance, fear that it may fail or encounter rejection from employees because it encompasses varied changes. Secondly, managing performance may be done at an employee level by carrying out proper appraisals and ensuring that they are engaged and motivated. In order to have enhanced organisational and employee performances, it is mandatory for an organisation to adopt the best practices or concepts available. Performance management is accorded to Human Resource Managers (HRMs) who must ensure that their employees have the required competencies hence earning an

Analyse and model engineering situations and solve problems using Math Problem - 1

Analyse and model engineering situations and solve problems using Ordinary differential equations - Math Problem Example This empirical observation coincides to the Newton’s Law of Cooling which states that â€Å"the rate of change of the temperature of an object is proportional to the difference between its own temperature and the ambient temperature.† For instance, when a hot metal ball is placed in a bath of tap water at temperature of T0, it gradually cools. In this process which takes time to complete, naturally the metal ball gives off heat to the surrounding water so that the bath gets warm due to the heat released to it. However, as time proceeds, since the bath of water is open to the larger environment at T0, the system consisting of it and the material it contains would in time establish equilibrium with its environment. In which case, the Newton’s Law of Cooling applies such that, for the heated object being cooled within a room, the temperature of the hot body changes so that it approaches the room’s temperature which is T0. b. Formulate mathematical model for t he cooling process. According to Newton’s Law of Cooling with which the problem statement proves to be consistent, a first-order differential equation may be set up as follows: = -kT where ‘k’ refers to the constant of proportionality. The negative sign accounts for the difference in temperature since the object being cooled would have a lower final temperature compared to its initial temperature. Then on solving the equation: = -k Where Tf = final temperature difference T(t) - T0 Ti = initial temperature difference T1 - T0 Here, T0 = ambient room temperature T1 = initial temperature of heated object T(t) = temperature of the object (under cooling) at anytime ‘t’ So that upon evaluation of the integral, ln Tf - ln Ti = -kt By exponent property, ln = -kt ---? = ---? = Then, substituting expressions for Tf and Ti: ----? T(t) - T0 = (T1 - T0) 2. At time t = 0 water begins to leak from a tank of constant cross-sectional area A. The rate of outflow is pro portional to h, the depth of water in the tank at time t. Write the constant of proportion kA where k is constant. a. Analyse the tank leaking process. Since water leaks out of the tank from an initial height say h0 which corresponds to water volume of V(h0) in the tank, the finite change in this volume per unit change in time, beginning at t = 0 would be (?V/t). The tank is not being filled in so this merely represents the rate of water outflow which is proportional to the water depth in the tank. Essentially, the water depth may be expressed as the finite change in height h(t) - h0 as the water leaks out of the tank where h0 refers to the initial height in the tank and h(t) is the height of the water measured at any time ‘t’. b. Formulate mathematical model for the leaking process. The leaking process may be mathematically modelled as follows: = - k A ?h in which A pertains to the constant area of cross-section through water depth The factors kA serve as the constant of proportionality and the negative sign is used to signify the value of h(t) that is lower than h0. For depth ?h = h(t) - h0, it follows that ?V = V[h(t)] - V(h0). Thus, = -k A [ h(t) - h0 ] which on arranging yields to: Write conclusions based on your formulated mathematical model for leaking process. Task 2 – Learning Outcome 4.2 Solve first order differential equations using analytical and numerical methods. 3. Find the solution of the following equations: a. Separating variables, = t dt Integrating both sides, let u

A4 Essay Example | Topics and Well Written Essays - 2500 words

A4 - Essay Example 5). Before 1979, policies that came under the Labour and Conservative governments were more oriented towards greater equality and increased economic growth than on any other goal. The main legislation associated with equal opportunities at this time were the Equal Pay Act (1970, coming into force in 1975), the Sex Discrimination Act (1975) which specifically included education, and with respect to ‘race’ issues, the Race Relations Act (1976). All these Acts set legislation towards a range of policies which were initiated and developed by individual teachers, schools and local authorities, many of whom were anxious to see enacted the spirit as well as the letter of the legislation. Feminists played a significant role in inducing EU to emerge new strategies ensuring equality of opportunities regardless of gender, culture or race. The main concern however was to point the EU towards recognising inadequacies in schooling for girls. The school curriculum was followed by obsolete syllabuses and content were found to exclude the experiences of girls and women whether white or black. At secondary level, where choice was available, girls tended to opt for humanities, languages and social science, and boys for Science, Mathematics and technological subjects (Pratt et al. 1984). Also, students tended to be directed into traditionally male and female subjects and careers, and in the main, girls’ careers were believed to be less important than boys’. The hidden or unwritten curriculum of schooling was also found to exert pressure on students and staff to conform in sex-specific ways. For example, there were different rules on uniform and discipline for girls and boys, and sexual harassment and verbal abuse were found to be common features of school life (Lees, 1987). These inequalities were felt by the teachers and advisory staff and by the early 1980s female teachers began to develop a range of strategies in order to counter

Polymer: The Glass Transition

Polymer: The Glass Transition Formulation Chemistry Polymer: The Glass Transition In the solid state, semicrystalline polymers exhibit both amorphous and crystalline morphology. The glass transition is a property of only the amorphous portion of a semi-crystalline solid. [1] The glass transition temperature, Tg, is the temperature at which the amorphous materials change between the glassy and rubbery form. 1.1 Amorphous and Crystalline Polymers The amorphous polymers consist of molecules that are oriented randomly, unlike the crystalline ones which have polymer chains packed in ordered, repeating patterns in the three-dimensional crystal lattice. However the glass transition is different to melting because only amorphous polymers undergo the glass transition. Melting is a transition that occurs in crystalline polymers when these chains are disoriented from the crystal structures and become liquid. A sample of semicrystalline polymer can be composed of both amorphous and crystalline portions, therefore it can have both a glass transition temperature and a melting temperature. 1.2 Glassy and Rubbery States Below Tg, the amorphous regions of a polymer are in a glassy state and most joining or contact bonds are intact. [2] The molecules may be able to vibrate slightly, but are virtually motionless in which portions of the molecule wiggle around. Therefore polymer is generally hard, brittle and rigid. As the polymer is heated until it eventually reaches its glass transition temperature, the molecules start to wiggle around. In inorganic glasses, more bonds are broken with increased thermal fluctuations; while in organic polymers, non-covalent bonds between chains also become weaker. By heating above Tg, there is long-range segmental motion where the polymer chains can move around easily. It is now described in its rubbery state which offers flexibility and softness for plastic deformation without fracture. Below Tg, the chains are firm and unbendable to relieve the force being applied. This is due to either (a) the chains are strong to resist the stress; or (b) the force applied is excessive for the motionless polymer chains to overcome, so the polymer sample will just break or shatter.[1] Such mobility with temperature is heavily dependent upon the â€Å"heat† content because Tg is a kinetic parameter. The Tg decreases with slower melt cooling rate. It is also affected by other factors listed in section 1.4. Heat is a form of kinetic energy that causes random motion of molecules and the pliability of polymer, in comparison to â€Å"cold† polymers which lack kinetic energy to move around and hence are brittle on cooling. Example of this behavior is the glass transition of chewing gum. It is soft and pliable at body temperature, characteristic of an amorphous solid in its elastic, rubbery condition. The gum then turns hard and rigid when it comes into contact with cold drink or ice cube in the mouth. 1.3 Glass Transition vs. Melting The differences are outlined in the table below: Generalised Anxiety Disorder (GAD): Theories and Treatment Generalised Anxiety Disorder (GAD): Theories and Treatment Introduction Modern cognitive-behavioural therapy (CBT) grew out of the merging of behavioural therapy, developed in the 1950s to 1970s, and cognitive therapy developed in the 1960s (Graham, 2004). Broadly, it attempts to deal directly with a clients manifest symptoms through both cognitive and behaviour strategies. Cognitive theories target particular irrational beliefs which are thought to be the source of behavioural and emotional problems. Historically, CBT is well-established in the treatment of anxiety disorders, but has only been adapted more recently for use in psychosis (Tarrier, 2002). This essay will first examine the theory and practical treatment of generalised anxiety disorder (GAD) using CBT. Then the treatment of psychosis will be considered in the same way, but concentrating on the similarities and differences to the treatment of anxiety. CBT Treatment of Generalised Anxiety Disorder The main feature of GAD is excessive and uncontrollable worry (Wells, 2002). The DSM-IV states that for a positive diagnosis of GAD, the worry must occur more days than not over a period of six months (American Psychiatric Association, 1994). The DSM-IV also lists a number of somatic and cognitive symptoms which include, for example, muscle tension. A variety of different treatments have been used for GAD including both directive and non-directive therapies. Fisher Durham (1999) examine the effectiveness of different treatment methods and the number of clients making a full recovery. The most successful treatments in their meta-analysis were CBT which achieved a recovery rate of 51% and applied relaxation which achieved a 60% recovery rate. To understand how GAD is treated using CBT, it is necessary to understand the model of worry that it is based upon. Beck (1976) produced the most widely referenced model of anxiety which links emotions and thinking. In this model it is the patients thoughts and images relating to anticipated danger that immediately precede, and cause, anxiety attacks. In appraising their environment, anxious patients overestimate both the likelihood and severity of a negative event occurring and so take defensive action (Blackburn, 1995). Under the umbrella term of CBT a number of different approaches to treating GAD have been used. They normally focus on two main factors: cognitive work aimed at challenging the clients beliefs and thought processes as well as behavioural work teaching anxiety management strategies (Wells, 2002). Borkovec (2002) describes the cognitive aspect of CBT as focussing on how the client perceives the world and attempting to move this onto a more accurate footing. Generally, this is done by eliciting how the client is perceiving events in an anxious way. Then, the client is encouraged to apply logical thought processes to their own perceptions to challenge the way they are thinking. The therapist attempts to supplant these original thought processes with cognitive interpretations that do not lead to increased anxiety. Clients are usually given homework in which they attempt to identify anxiety attacks, what preceded them and what followed them. Hopefully, by demonstrating to the client that their catastrophic predictions do not occur in reality, it is possible to break down the automatic negative thoughts. Some researchers have been critical of this basic cognitive approach as it does not focus on meta-cognitive factors (Wells, 2002). A revision to the model has been added by Wells (1995) who introduces the distinction between Type 1 and Type 2 worry. Type 1 worry is that referred to above the worry about physical symptoms and external events. Type 2 refers to worrying, as it were, about worrying: meta-worrying. Type 1 worrying is dealt with in approximately the same manner described above, but greater focus is given here to Type 2 worrying. Type 2 cognitive interventions focus on two factors: the uncontrollability of the worrying and appraisals and beliefs about the dangers of worrying. Once negative meta-cognitions have been elicited, they can be challenged and worked with in the same way as before. An example of this type of metacognition is that a client can believe that worrying is harmful because it increases blood pressure and thereby this is harmful to the body (Wells, 2002). The therapist would address this by explaining that occasional high blood pressure is not associated with chronic health problems. The second aspect in treating anxiety by CBT is the use of behavioural strategies (Borkovec, 2002). This involves teaching the client techniques for relaxing their body such as meditation, progressive muscle relaxation and relaxing imagery. Clients are encouraged to practice these techniques even when they are not anxious so they feel comfortable with their implementation. In addition, in some circumstances clients will be exposed to situations which make them anxious in order to provide realistic practice opportunities (Borkovec, 2002). A further type of behavioural strategy employed is a stimulus control method. This involves the client in deciding on a period of the day in which worrying will be carried out, carrying out monitoring of their daily worrying, and trying to only worry in the designated period. Then, in the designated period of worrying, clients practice their cognitive skills. Two other techniques used are behavioural activation strategies encouraging the client to engage in more pleasant activities and imagery rehearsal techniques which involve practicing new responses to environmental cues likely to cause worry (Borkovec, 2002). CBT Treatment of Psychosis Unlike the symptoms of anxiety which can be stated relatively succinctly, the experiences of those with psychosis vary to a large degree. Those with schizophrenia-spectrum disorders, for example, can suffer from hallucinations, delusions, perceptual anomalies as well as some associated problems like depression and anxiety itself (Garety, Fowler Kuipers, 2000). The CBT therapist will, therefore, be targeting a greater variety of symptoms than with anxiety, and usually over a much longer period: perhaps three or more times as many sessions as for anxiety. The use of CBT in psychosis was nevertheless developed from the techniques used to treat conditions like depression and anxiety (Tarrier, 2002). CBT is generally used in addition to powerful antipsychotic medications and is aimed at helping clients to better cope with their psychoses. CBT has been investigated in a number of different patient groups, the largest body addresses those with chronic conditions that are treatment-resistan t, with studies generally finding it to be effective (Sensky et al., 2000). More recent studies have found it to be effective in acute and recent-onset schizophrenia (Lewis et al., 2002). The theoretical model for CBT in psychosis is necessarily much broader than that used for anxiety. While the relations between thoughts, feelings and behaviour are important, these have to be set against wider issues. The causes of psychosis are usually multi-factorial and thought to stem from the social environment, biological vulnerability and psychological processes (Garety et al., 2000; see also the stress-vulnerability model: Strauss Carpenter, 1981). In order to reach an effective case formulation, therefore, the therapist needs to examine the confluence of these different factors along with the clients stresses, vulnerabilities and responses. Like anxiety, at the centre of the cognitive model of psychosis lies the idea that the therapist can address all the different types of symptoms by examining cognitive processes. One example Garety et al. (2000) point to was made by Frith (1992), which claims that symptoms of thought insertion are a result of deficits in normal cognitive self-monitoring processes. Similarly, the anxious component of psychosis is seen as resulting from maladaptive appraisals. At heart, the theoretical model of CBT for psychosis relies on the same fundamentals as that for anxiety: that making the client aware of these problematic thought processes will provide some relief. Where it differs theoretically is that it is addressing a wider variety of factors social and biological as well as psychological and so the treatment has to reflect this fact. Turning now to the practical aspects of CBT for psychoses, Garety et al. (2000) outline a six-stage process. The first involves building and maintaining a therapeutic relationship. This was taken for granted in the discussion of anxiety because, to a therapist, this is a given. With psychotic clients, though, there are significantly greater barriers to the building of a therapeutic relationship. The client may well suffer psychotic symptoms during sessions as well as being paranoid about and suspicious of those trying to help them. The second stage is providing cognitive-behavioural coping strategies for the positive symptoms of psychosis (Garety et al., 2000). Similarly to anxiety treatment, this might include reality testing on delusional thoughts, self-monitoring of symptoms and using distraction and withdrawal (Phillips Francey, 2004). The third stage involves attempting to understand the experience of psychosis. Here, the therapist attempts to bring together strands from the clients life and experiences and link them to their psychotic symptoms. Further, however, the therapist also looks to provide some sort of normalisation to the already high level stigmatisation associated with psychosis. This third stage in treating psychosis differs considerably from the treatment of anxiety, which generally does not address wider social issues in depth. Fourthly, the therapist will specifically examine hallucinations and delusions (Garety et al., 2000). This will often be hard as the client will have developed a series of beliefs that are heavily reinforced. These are addressed using standard CBT techniques such as those used in anxiety. Where the approach for psychosis differs, however, is that attempts to change long-held thoughts are not made until well into the therapeutic process and the therapists manner is slower and softer. In addition, compared to CBT for anxiety, there is less emphasis on the patient generating their own alternative interpretations, and more on the therapist providing them. Some clients may not even agree their beliefs are delusional and so the therapist has to work within the boundaries set by the client. The fifth aspect of CBT for psychosis as laid out by Garety et al. (2000) focuses on depression, anxiety and negative self-evaluations. Those suffering from psychosis will often have low self-esteem. This can be the result of long-standing negative self-evaluations which can be targeted by cognitive therapy techniques of reviewing how they arose and then providing a challenge to the thinking. Both depression and anxiety are also treated in this way. Finally, Garety et al. (2000) look at issues of social desirability and risk of relapse. Throughout therapy, the therapist is looking to the future and helping the client to think about their short and medium-term plans. While Garety et al.s (2000) model is influential, it should be noted that the treatment of psychoses, like that for anxiety, is not monolithic there are a variety of different formulations and approaches. Some focus more on particular aspects such as the delusions or coping strategies. Garety et al. (2000) argue, however, that many treatments are now becoming more integrated in order to address the wide range of symptoms in psychosis. Outcomes and Comorbidity The outcome research varies across different types of psychosis and so it is difficult to compare with anxiety outcomes. A further complication is the different methods used and the rapidly developing nature of CBT as an intervention. Psychosis is certainly harder to work with than anxiety because of the sheer number of factors involved and, as a consequence, the outcomes are generally not nearly as good as those for anxiety. One clear similarity between the CBT treatment of psychosis and that for anxiety is their comorbidity in psychotic disorders. Looking across bipolar disorder, schizoaffective disorder and schizophrenia, Cosoff Hafner (1998) found 43% to 45% of psychotic patients had a form of anxiety disorder. Indeed, in their sample, Cosoff Hafner (1998) found that, even though anxiety disorders are often responsive to treatment, none of the patients had been treated for it. Research has questioned whether anxiety might be a dimension of a psychotic disorder like schizophrenia while others suggest they form a subgroup of the patient population (Braga, Petrides Figueira, 2004). Supporting the dimensional view, Lysaker Hammersley (2006) have found a relationship between both delusions and inflexible thought (characteristic of psychosis) and higher levels of social anxiety. Further, looking at schizophrenia in particular, Braga, Petrides Figueira (2004) argue that much of the research shows better outcomes for those treated for comorbid anxiety. While the repertoire, order and specific implementation of techniques used in CBT differs between psychosis and anxiety, the therapeutic relationship will be central to success in both treatments. Factors that Beck Emery (1990) highlight include trust on the part of the client in the therapist, a collaborative approach and a focus on educational issues. Conclusion The treatment of both anxiety and psychosis with CBT is based on identical underlying principles. Theoretically, both approaches involve focussing on the types of attributions and automatic negative thoughts the client is experiencing as well as aspects of behaviour. Similarly, both approaches require a strong therapeutic alliance in order to be successful. The practical implementation of each intervention is, however, tailored for the disorder. The client suffering from psychosis is likely to have a much wider range of symptoms to deal with and, as such, CBT for psychosis generally takes longer and addresses more complex issues. Part of this will involve the therapist in attempting to understand and interpret the experience and causes of psychosis. This is in contrast to CBT for anxiety which will focus more on problem solving. There is evidence to suggest, however, that anxiety forms a part of certain psychoses, and in this situation its treatment should form part of a wider integr ated approach. Finally, outcomes in CBT for psychosis are generally more modest than in anxiety as psychotic symptoms are considerably more challenging for the therapist. References American Psychiatric Association (1994) Diagnostic and statistical manual of mental disorders (4th ed.). Washington DC: American Psychiatric Association. Beck, A. T. (1976) Cognitive Therapy and the Emotional Disorders. New York: International Universities Press. Beck, A. T., Emery, G. (1990) Anxiety Disorders and Phobias: A Cognitive Perspective. Cambridge: Perseus Books. Blackburn, I. M. (1995) Cognitive Therapy for Depression and Anxiety. Oxford: Blackwell Publishing. Borkovec, T. D. (2002) Psychological aspects and treatment of generalized anxiety disorder. In: D. J. Nutt (Ed.). Generalised Anxiety Disorder: Symptomatology, Pathogenesis and Management. London: Taylor Francis. Braga, R. J., Petrides, G., Figueira, I. (2004) Anxiety disorders in schizophrenia. Comprehensive Psychiatry, 45(6), 460-468. Cosoff, S. J., Hafner, R. J. (1998) The prevalence of comorbid anxiety in schizophrenia, schizoaffective disorder and bipolar disorder. Australian and New Zealand Journal of Psychiatry, 32(1), 67-72. Fisher, P. L., Durham, R. C. (1999) Recovery rates in generalized anxiety disorder following psychological therapy: An analysis of clinically significant change in the STAI-T across outcome studies since 1990. Psychological Medicine, 29, 1425-1434. Frith, C. D. (1992) The cognitive neuropsychology of schizophrenia. Hove: Lawrence Erlbaum Associates. Garety, P. A., Fowler, D., Kuipers, E. (2000) Cognitive-behavioural therapy for people with psychosis. In: B. Martindale, A. Bateman, M. Crowe, F. Margison (Eds.). Psychosis: Psychological Approaches and Their Effectiveness Putting Psychotherapies at the Centre of Treatment. London: Gaskell. Graham, P. J. (2004) Introduction. In: P. J. Graham (Ed.). Cognitive Behaviour Therapy for Children and Families. Cambridge: Cambridge University Press. Lewis, S. W., Tarrier, N., Haddock, G., Bentall, R., Kinderman, P., Kingdon, D., Siddle, R., Drake, R., Everitt, J., Leadley, K., Benn, A., Grazebrook, K., Haley, C., Akhtar, S., Davies, L., Palmer, S., Faragher, B., Dunn, G. (2002) A randomised controlled trial of cognitive behaviour therapy in early schizophrenia: acute phase outcomes in the SOCRATES trial. British Journal of Psychiatry Supplement, 43, 91-97. Lysaker, P. H., Hammersley, J. (2006) Association of delusions and lack of cognitive flexibility with social anxiety in schizophrenia spectrum disorders. Schizophrenia Research, 86(1-3), 147-53. Phillips, L. J., Francey, S. M. (2004) Changing PACE: Psychological interventions in the prepsychotic phase. In: P. D. McGorry (Ed.). Psychological Interventions in Early Psychosis: A Practical Treatment Handbook. Chichester: John Wiley and Sons. Sensky, T., Turkington, D., Kingdon, D., Scott, J. L., Siddle, R., OCarroll, M., Barnes, T. R. (2000) A randomised controlled trial of cognitive- behavioural therapy for persistent symptoms in schizophrenia resistant to medication. Archives of General Psychiatry, 57, 165-172. Strauss, J. S., Carpenter, W. T. (1981) Schizophrenia. New York: Plenum. Tarrier, N. (2002) Cognitive-behaviour therapy in the treatment of schizophrenia. In: H. Hafner (Ed.). Risk and Protective Factors in Schizophrenia: Towards a Conceptual Model of the Disease Process. Berlin: Steinkopff Verlag. Wells, A. (1995) Meta-cognition and worry: A cognitive model of generalised anxiety disorder. Behavioural and Cognitive Psychotherapy, 23, 301-320. Wells, A. (2002) Cognitive therapy for generalised anxiety disorder. In: F. W. Bond (Ed.) Handbook of Brief Cognitive Behaviour Therapy. Chichester: John Wiley and Sons. Southwest Airlines: Culture, Values and Operating Practices Southwest Airlines: Culture, Values and Operating Practices Rollin King planned to start low cost airlines that would shuttle passengers between San Antonio, Dallas and Houston. This idea came in his mind due to the complaint of businessmen about the delay of airlines. When all airlines were in losses at that time the Southwest Airlines were earning profit. It was because of the business strategy. They offered lowest and simple charges to get passengers to their destination on time and Muse wanted his executive team to be willing to think independently instead of worked on the institutional practices. One of the things that attract me a lot that there was a plan of profit sharing with senior employees that was first in the airline industry (Arthur A. Thompson, 2008). What grade would you give Southwest management for the job it has done in crafting the companys strategy? What is it that you like or dislike about the strategy? Does Southwest have a winning strategy? Southwest airlines performed successful in the airlines industry. The company demonstrated the ability to quickly dominate markets. Here are some strategies that were really appreciable: Product Positioning Strategy: Southwest airlines carefully projected its image in front of customers and competitors. It offered ticketless travelling by not assigning seats to the passengers so that they could reach the destination on time (Arthur A. Thompson, 2008). Price Strategy: Southwest airlines had offered the lowest domestic airlines charges. There was a plan of profit sharing with senior employees that was first in the airline industry (instituted in 1973) (Arthur A. Thompson, 2008). Promotion Strategy: Southwest airlines wanted to concentrate more on customer preference and benefits. It encouraged its employees to dress casually at work and this created a positive image in front of the customers. (Arthur A. Thompson, 2008). Digital Media Promotion: This was a first airline that developed a web site and online booking facility (Arthur A. Thompson, 2008). One drawback of southwest airlines was that it was taking 6 to 12 rounds in a day. Fuel, air frames and diesel were very costly and southwest airline were not fully boarded. Hence the revenue generation was minimal and the airlines could not make sufficient profits (Arthur A. Thompson, 2008). QUESTION 3 What are the key policies, procedures, operating practices, and core values underlying Southwests efforts to implement and execute its low-cost/no frills strategy? Some policies for the low cost are: The company was operating only one type of aircraft having 737 seats which minimized the spare parts, inventories, maintenance training, and proficient improvement. The company offered ticketless journey which eliminated the expenses of printing and processing paper tickets. The company was serving airports near metropolitan areas and medium sized cities that minimized fuel cost and helped to reach destination on time. Southwest was using point-to-point scheduling of flights instead of hub-and-spoke system which was more efficient in comparison with the later. Southwest didnt have first class section in any of the flights and offered only beverages and snacks (Arthur A. Thompson, 2008). QUESTION 4 What are the key elements of Southwests culture? Is Southwest a strong culture company? Why or why not? What problems do you foresee that Gary Kelly has in sustaining the culture now that Herb Kelleher, the companys spiritual leader, has departed? The company provided free and satisfied environment to the employees. It had positive, innovative and simple culture which contributed to the growth of the company. (Arthur A. Thompson, 2008). Garry Kelly was appointed as vice chairman of the board of directors in 2004. There are some problems that I foresee when Gary Kelly has sustaining the culture: Other rival airlines can copy their spirit and culture that can be problem for the company. Gary was applying changes according to his taste and the company was facing continuous changes. Hence it became difficult to survive in rapidly changing environment. There was no market stability because of the rapidly changes environment (Arthur A. Thompson, 2008). QUESTION 5 What grade would you give Southwest management for the job it has done in implementing and executing the companys strategy? Which of Southwests strategy execution approaches and operating practices do you believe have been most crucial in accounting for the success that Southwest has enjoyed in executing its strategy? Are the any policies, procedures, and operating approaches at Southwest that you disapprove of or that are not working well? The southwest management should get the highest grade in my opinion. Employees maintenance has been crucial in accounting for the success of southwest airlines. The strategy of lowest price with accommodation was very tough but the southwest airlines made it easy (Arthur A. Thompson, 2008). I disapprove due to the following reasons: Southwest should try to expand its existing route. They didnt have Miami International airport as hub even though it is a city of population with a large number in and out flights. Another policy was that the fat people had to take two tickets for being able to sit comfortably in the airline. This was embarrassing to the people who were overweight (Arthur A. Thompson, 2008). QUESTION 6 What weaknesses or problems do you see at Southwest Airlines as of mid-2010? There were some problems that came in the mid of 2010 at the southwest airlines: It depended on only one producer. Southwest was running only one flight of 737 seats there must be some optional flight. Booking of flights became difficult because southwest had eliminated the intervention of agents because of commission amount. Southwest were only focusing on the economy class but have no attention towards business class who were willing to pay for their seats. Money was not the big issue for them (Arthur A. Thompson, 2008). QUESTION 7 Does the Air Tran acquisition make good strategic sense for Southwest? Southwest have a very distinctive and unique culture. The Air Tran acquisition put significant risk. Southwest has one type of plane 737. With the acquisition of Air Tran it started flying the 717 to Mexico and the Caribbean. It was a big shift for southwest (Arthur A. Thompson, 2008). The main base of Air Tran was Atlanta that was a huge delta hub while southwest had started to fly their flights out of the United States. This proves that the acquisition made a good sense not only in business perspectives but also for maintaining the cost effectiveness of the service (Arthur A. Thompson, 2008). QUESTION 8 What strategic issues and problems do Gary Kelly and Southwest executives need to address as they proceed to close the deal with the Air Tran acquisition and contemplate how best to integrate Air Trans operations and Air Trans employees into Southwest? Some problems that need to address Gary and the southwest executives are: Southwest needed to incorporate Air Tran employees into the culture of Southwest that was serving good customer service, lowest costs and lowest charges. To analyze the level of Air Tran employees and the Southwest employees. They have to look on the opportunities and try to enhance business share. They have to analyze that how to conduct flights outside the United States (Arthur A. Thompson, 2008). QUESTION 9 What recommendations would you make to Gary Kelly and Southwest executives as the company heads into 2011? The following are the recommendations for the company: The company has to work on the long term goals. Strategies should be made in accordance with the fuel prices which usually act as a barrier to conventional business growth. Provision should be made for reservations to be performed directly on the site of southwest.com without any intervention of third parties. There must be opportunity for internet marketing. The management of the company should start travelling outside the United States for increasing the market shares. The turnaround time should be improved. The prices of the services should be kept as low as possible. Offering of different types of seating classes with different rates should be helpful for increasing the revenue (Arthur A. Thompson, 2008).

Tales Of Simple :: essays research papers

Langston Hughes is represented in Black Voices by the Tales of Simple. Hughes first presents his character Jessie B. Simple in the Forward: Who is Simple? In this tale the reader is given its first look at the character Jessie B. Simple who is a black man that represents almost the "anybody or everybody" of black society. Simple is a man who needs to drink, to numb the pain of living life. "Usually over a glass of beer, he tells me his tales... with a pain in his soul... sometimes as the old blues says... Simple might be laughing to keep from crying" (98, 99). Jessie B. Simple, also known as Simple, has just the right combination of qualities to be Black America's new spokesman and unsung hero. Simple seems to possess just enough urban humor and cynicism, down-home simplicity, naivete, and "boy-next-door innocence" that Simple easily becomes a character that hard-working, average, everyday people can relate to. He quickly becomes this sort of Black Every man whose bunions hurt all the time and whose thoughts are relatively quite simple, yet he is a man who rises above these facts and has a perception that shows the man to have great wisdom and incredible insight. And although he maintains seriousness for all his wisdom to come through; his presentation of the facts is given in a humorous manner. In Bop, "That's why so many white folks do not get their heads beat just for being white. But me --- a cop is liable to grab me almost anytime and beat my head- just for being colored " (105). This side to Simple is an example of Hughes attempt to give simple facts or actual truth but instead of telling these things harshly and angrily he tries to sweeten them with a little sarcastic humor. At times, Simple is full of pain. "I have had so many hardships in this life," said Simple, "that it is a wonder I'll live until I die" (105). This comment by Simple is one of Ramsey 2 many that help portray him as a simple man who has been both mentally and physically broken-down by society but who in Census also says that, in spite of all the hardships he has experienced, he is still here. Hughes, by using Simple, shows his discontent of the black man's world, yet in showing these feelings Hughes never portrays himself to be angry, overcome by fear, or overwhelmed by racial paranoia.

Analysis of the character of Frank McCourt in the story “Angela’s Ashes” Essay

â€Å"First they ignore you, then they laugh at you, then they fight you, then you win.† –Mahatma Gandhi An assertive statement from the late Mahatma Gandhi pertaining to a person’s struggle that no matter how unfortunate a person’s circumstances may become, in the long run, a deserving achievement awaits him. I do agree to this statement. Everyone experiences similar kinds of battle, no matter how small it can be each in our own different ways. Frank McCourt, being the main character in his own memoir Angela’s Ashes, endeavors through his society and growing up. Frank McCourt shared his own fight through his memoir Angela’s Ashes. The setting was mostly during the 1930’s in Ireland where inequalities among the rich and the poor were distinctively obvious. When he and his father, Malachy McCourt, went to a church and had him signed up to be an altar boy, the minister did not even bother to look at them and slammed the door right on their faces. Not only had other people treated them badly but their own relatives as well. His mother’s relatives taunted him and his family in a different way although they were more supportive than his father’s relatives were. The grandmother always made dreadful remarks about how his mother married a useless man from the North of Ireland and how he got those â€Å"odd manners† form his father. These events clearly stated how society tormented him and his family by class distinction and conflicts between relatives and families. Frank McCourt’s childhood was moved by a common factor–his eagerness to know the realities of life. He portrayed an Irish-American kid who lived in the Great Depression of the 1930’s in America and in the agonizing poverty of Ireland. He wanted to help his family from the poverty they were in, at a very young age. He say three of his six siblings died during his childhood. He had a father who was most of the time drunk and does nothing, literally, to establish a family. He had to risk school in order to earn shilling for his family. However, he had endured all of these hardships by heading back  to America. Frank McCourt’s dream was to return to America. In the end, he made his dream come true. When he was nineteen, he found a relatively good paying job as a delivery boy, invested his money, and bought himself a ticket going back to New York. He actually did â€Å"win† over the â€Å"laughs† of society and growing up. Mahatma Gandhi’s statement certainly corroborated to Frank McCourt’s experiences. He won over his struggles by heading back to America and searched a better life for him and his family. The same thing that happened to our own struggles. That same feeling of achievement we had after we had gone through a tight situation or a problem. I really do believe to this statement by Mahatma Gandhi because I somehow experience a similar situation in my life, and I did win too, by the way.

3 Ways to Expedite Your Editing Process - Freewrite Store

3 Ways to Expedite Your Editing Process - Freewrite Store Some writers love editing. Others†¦ not so much. Either way, editing is an essential part of the writing process. And, like writing, it’s time-intensive. Fortunately, editing doesn’t have to take forever. If you want to refine your writing without spending endless hours on it, consider these three tips.1. Start with an OutlineIt’s hard to get anywhere without a map (or maybe a navigation app is more appropriate for 2018). Likewise, it’s hard to write without a destination in mind. To predetermine that destination, consider outlining.Your outline can be as simple or complex as you’d like. If you’re writing a standalone blog post, your outline might be bullet points. If you’re writing a novel, your outline might be several pages. Either way, spending time creating an outline in advance can save you major time in the editing process. If you’re wondering why, let’s refer back to our map metaphor.If we travel without a navigation app, we’re likely to get lost along the way. That means wasted time backtracking, rerouting, and making U-turns. The same goes for writing. An outline shows us where we’re going so we don’t get lost along the way. Without one, we might very well get to the editing process and realize that we went way off course. Then we’d need to spend extra editing time getting everything back on track. That’s no way to expedite our editing.You can read more about the importance of outlining in this post, Outlining for Writers Who Hate to Outline.2. Use Editing SoftwareThe robots haven’t taken over yet- but that doesn’t mean they aren’t super smart. In fact, there are many programs out there that can help edit your writing.Take ProWritingAid, for example. It works like your grammar checker but goes way beyond just grammar errors. It detects a huge range of writing issues that make your writing awkward or unclear, like passive voice, sticky sentences, repetitive phrasing, and inaccurate word choices. And it does all this at lightning speed.Try uploading a piece of your writing to the online tool an d run a summary report. It’s free to use and you’ll see the key changes that will most improve your writing. Or, to save even more time, you can use integrations for Microsoft Word/Office, Google Chrome, Google Docs, Scrivener, and more. It’s an easy way to edit faster (and more efficiently). Related:  10 Grammer Rules to Always Follow 3. Take a Break Between Writing and EditingI know. This sounds contradictory. Why would I recommend taking additional time for an article about saving time?Because it really works. You need not take a long break between writing and editing. It could be a day. It could be an hour. Whatever you choose, taking time between writing and editing will accelerate the entire process.There are a few reasons for this. First, the downtime allows your brain to switch gears. Though they are similar, writing and editing require different skills. Writing is about seeing what isn’t there; editing is about refining established ideas. It’s difficult to transition from one to the other. Taking a break after writing resets our brains for editing. And when we do that, editing goes faster.Furthermore, breaking before editing gives your unconscious mind time to reflect on what you’ve written. Here’s a non-writing example: Think back to the last time you lost your car keys. (I did it 20 minutes ago.) You probably found that you looked everywhere and couldn’t find them. Then maybe you stepped away for a while. When you returned, you might’ve suddenly remembered where you left your keys.No, the keys didn’t telepathically notify you of their location (though that would be pretty cool). That was the work of your unconscious mind. It works the same way for writing and editing. Your unconscious mind finds solutions to problems, even when you don’t know it.Alright, I’ve taken enough of your time. Go edit!      About the author: Kyle A. Massa is a speculative fiction author living in upstate New York with his wife and their two cats. He loves the present tense and multiple POV characters. When he grows up, he wants to be a professional Magic: The Gathering player. For more of his work, visit www.kyleamassa.com.

Formal Fused Words

Formal Fused Words Formal Fused Words Formal Fused Words By Mark Nichol Inasmuch as it pains me to say it, notwithstanding my affection for fused words, nevertheless, I encourage readers to use some of the words listed hereinafter sparingly and others not at all. Evolution of the English language includes a process called univerbation (yes, that’s really a word), the combination of a fixed expression of two or more words into a single word. It’s how two nouns are transformed into a closed compound such as lightbulb, or how a phrase such as â€Å"forget me not† coalesces into a noun such as forget-me-not, to represent something new. It’s how phrases like â€Å"young urban professional† are abbreviated to words such as yuppie, and how a portmanteau word like smog is formed. It’s how a verb phrase like â€Å"going to† is slurred to sound like gonna, and how a combination of a preposition and an infinitive such as in and to becomes the preposition into and how three words like not, with, and standing, which in sequence make little sense, are welded together to become a (highly formal) synonym for despite. (Other fused words are still considered invalid, such as the ubiquitous alot and alright and the rarer moreso and eachother, but in centuries to come these will likely be considered standard.) It applies also to when two or three words (sometimes with the aid of another word that remains independent) unite to perform an adverbial function or to serve as a conjunction or as a pronoun. Note, however, that in many cases, these words- though no more venerable than any of the other English vocabulary that has survived for multiple centuries with little change- may be perceived as archaic or at least stuffy. When it comes to the words and phrases listed below, clear communication might be better served by employing a more transparent phrase that represents the same idea. Adverbs Many compound adverbs, such as those beginning with any (anyone, anything, and so on), are entirely acceptable, as is the slightly more formal however, as well as thereafter, therefore, nevertheless, and nonetheless, but the following words may be seen as pedantic: hereinafter: following this part of this document or writing hereinbefore: preceding this part of this document or writing heretofore: up to this time hitherto: up to this time howsoever: in whatever manner, to whatever degree or extent insomuch: to such a degree therein: in that place, thing, or time, or in that particular or respect thereinafter: following the part of that document or writing thereinbefore: preceding the part of that document or writing theretofore: up to that time Conjunctions Some compound conjunctions (such as although) are familiar, but the following might be seen as distractingly formal: albeit: even though forasmuch as: in view of the fact that howbeit: even though inasmuch as: in view of the fact that, or in the degree that insofar: to such degree or extent whensoever: at any or every time wheresoever: anywhere at all Pronouns Whatever, whenever, and so on are everyday words, and whatnot is common though it may be perceived as substandard dialect, but the following are stiff: whatsoever: anything or everything, or no matter what, or anything that might also be mentioned (also an adjective) whosoever: whatever person, or no matter who In summary, with few exceptions (such as nevertheless), consider avoiding words with infixes (words inserted between others to form a single word)- though they are forgivable when used whimsically- and note that even some infix-free fused words (such as therein) may be considered overly formal. Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the Spelling category, check our popular posts, or choose a related post below:35 Synonyms for â€Å"Look†Do you "orient" yourself, or "orientate" yourself?40 Synonyms for Praise

Importance of communication in CT scan unit Essay

Importance of communication in CT scan unit - Essay Example Communication helps patients ask questions and gives CT technologists the platform to explain the procedure to them and their families while it enables the CT technologists make informed decisions alongside physicians and other medical professionals. Therefore, with the importance of communication in the CT scan unit not in question, this paper will discuss the methods of communication the CT technologists use. The CT scan unit is a formal working environment but the nature of interactions that take place there necessitate more than formal communication methods (Acuff, Bradley & Osborne, 2014). However, the most prominent methods used include written communication such letters, email and memos; oral communication such formal briefings and phone calls; online communications; scientific communication; and face-to-face communication, which entails the largest portion informal communication. All these have a common objective to communicate needs in a timely manner and remain clear, avoid repetitions, be concise and, most importantly, minimize anxiety and trauma. This type of communication remains the most prominent in the formal setup. Its significance is more emphasized in communications because CT technologists and their colleagues, physicians and medical professionals. One of the primary responsibilities of CT technologists is receiving and responding to orders from physicians as well as departmental protocols, and email and internal memos serve this function effectively. For example, email will enable CT technologists to exchange information and pass and receive messages between themselves and their team members without any of them leaving their work stations. Although the CT technologist will have an interpersonal form of communication with the patient, written communication prior to the procedure will prepare both patients and their families for what is coming (Beukelman & Ray, 2010). Written communications,

Information Managment Challenges for Ford Motor Company Research Paper - 1

Information Managment Challenges for Ford Motor Company - Research Paper Example This is a clear challenge for the new millennium, in which the drive to produce cleaner fuel and decrease dependence on foreign oil is huge. Thus, this paper will examine the challenges Ford faces by striving to create greener products, utilizing technology to create a better product and prove to consumers that the company promotes the ideals of a cleaner, healthier world. The Ford Motor Company has the second highest level of sales of automobiles in the United States, with a global presence in more than 500 companies across the globe. More importantly, the innovation that the company has dedicated themselves to accomplishing gives hope that dependency on fossil fuels might someday be a thing of the past. The manufacturing plants are tooled to be flexible, the vehicles that roll off of the assembly line geared toward the fuel option of the country of intended delivery, thus providing their customers with the best options available for fuel economy. As the company is award winning for their ethical policies and implementation of sustainability, the potential for collaborative efforts toward advancing automotive technology seems to be a real possibility within the company. When Henry Ford created the Model T automobile, it was the beginning of a revolution in industry. The philosophies of industrial management that came from his innovative thoughts on the sociological aspects of his business created changes in the way in which workers, business financial strategy and the machinery of work were integrated. Ford was born in 1863 in Detroit, Michigan. His father was from Ireland and his mother was born in Michigan from parents who were from Belgium. At the Edison Illumination Company, Ford was a chief engineer, but he was already working on the development of the gasoline engine. Once he developed the engine, he moved on to fully develop the Model T, build a manufacturing plant, and

Leadership Foundational and Critical Perspective Research Paper

Leadership Foundational and Critical Perspective - Research Paper Example   Leadership in an organization is characterized by taking going before, initiatives, setting examples and showing ways to an organization in a holistic manner. Organizations, today, in an extremely competitive business environment heavily rely on leadership and their role. The goals that are expected to be set by the leadership of an organization can either by humanitarian or entrepreneurial. The level in a hierarchy, leadership exists should instill passion and sense of purpose to work which is organization undertakes. Thus for Human Resource managers, it is an important task to hunt such individuals. Human Resource Management is thus concerned with identification, development, and sustenance of leadership in an organization. Structure of an organization is dependent on the type of business field and its standing on the type of economic activity it performs. Leaders of these organizations are entrusted with efficiency and affectivity tasks of various tiers of an organization. Org ans that constitute purview of a leader solicit his input, judgment, and accountability. It is not possible for them to work as the stand-alone unit. The systems are so designed that they might act as internal customers of an organization. These internal customers need directives that must follow all along supervision of leader. From individual-employee satisfaction to organizational behavior role of leaders have a profound effect on the employee. Leadership has many important aspects that are important for an organization.   

Sustaining Employee Performance Paper Essay Example for Free

Sustaining Employee Performance Paper Essay Money is no longer adequate enough these days to recruit and maintain top talent for any given business organization. Offering an appealing benefits plan is just as significant. Today’s economy is up and down throughout the US, and reducing employee benefits is frequently the easiest thing employers can to do to conserve money. Competitive businesses with benefits programs will be capable to entice employees away particularly if that organization does not make available the most important programs like health care and disability insurance. Beside the simple morale reasons for retaining employee benefits, there are some additional reasons to be mindful of including: Tax Credits – Expenses that can help a business at tax time would be a business who provides healthcare plans that include dental or company-paid premium life insurance plans. Furthermore, for the employees, many healthcare plans are pre-tax programs. This means the employee’s portion of the premium is subtracted then the federal and state taxes are withdrawn based on a subtotal. Retirement Credits – Depending upon the retirement plan, an employer and employee can reap tax credit rewards. It is important to seek out a qualified tax expert on the most beneficial retirement program to initiate. Employee Packages – When hiring employees salaried or hourly, he or she may not be thrilled or content about their base wage in the beginning. By keeping employee benefits, providing the cost the company will be bearing into his or her total employee compensation package as a way to demonstrate how the company is investing on his or her behalf. Lower Turnover Rate – Asking employees up and down the ranks what benefit is most wanted and the response will be medical benefits. If an employer understands the significance of employee benefits and keeps them, the company will most certainly incur less employee turnover and will continue employment where they are receiving the best package. When looking at company expenses, learn to recognize the weight of employee benefits and refrain from making benefits the first thing on the chopping block. Employers (business owners) must realize that employees make the business operate effectively, so don’t cut back on something that provides the workforce with a feeling of security.

SSEs acquisition of The Energy Solutions Group (ESG)

SSEs acquisition of The Energy Solutions Group (ESG) EXECUTIVE SUMMARY This report has been undertaken to come up with the intrinsic value of SSE plc which is operating in energy industry, using shareholder value analysis (SVA) model. The underlying value of the company is estimated to be  £12,122.14m, which is lower than the market value of  £15757.52m (FAME database, accessed on 19th January 2017). The discrepancy of the two values may be explained by referencing to Efficient Market Hypothesis, asymmetric information issue and shortcomings of SVA model. Based on sensitivity analysis, it is determined that SSEs intrinsic value is highly sensitive to changes in operating margin and WACC. It is found out that an adjustment of +2% made towards operating margin and WACC will remarkably change the company value by +86% and nearly -50% respectively. Therefore, analysts should pay more attention to these two variables when employing SVA model. The later section of the report identifies SSEs acquisition of The Energy Solutions Group (ESG) as a critical financial event, highlighting that the transaction will bring more synergy to the firms operation and enhance its competitive advantage in the energy industry. However, it is imperative for shareholders to keep track of the companys performance to alleviate problems of hubris or empire building. Objectives This financial report is expected to achieve two primary objectives. First, this report aims to provide the valuation and analysis of SSE plc a company operating in the energy industry by employing Shareholder Value Analysis (SVA) technique. Second, SSEs acquisition of The Energy Solutions Group (ESG) in 2014 will be evaluated with reference to finance theories in Mergers and Acquisitions. 1.2 Report structure This financial report is organized in five main parts: Section I: Introduction This section provides main purposes of the report and briefly describe structure of the report. Section II: Company Profile This section gives an overview of SSEs business activities, its market share and competitive positioning. Section III: Company Valuation This section covers the following contents: Evaluate the appropriateness of SVA model to value a company Perform the valuation of SSE plc using SVA model Provide justifications for variables and proxies used in the model Carry out comparative analysis and sensitivity analysis Section IV: Actual Corporate Financial Event This section critically evaluates SSEs acquisition of The Energy Solutions Group (ESG) with reference to finance theories. Some implications would also be proposed following the event evaluation. Section V: Conclusion This section summarizes the employment of SVA measure in case of SSE and then provide some recommendations. 2.1 Business Description SSE plc (Scottish and Southern Energy plc) is a British energy company headquartered in Perth, Scotland, United Kingdom. SSE was established in 1998 as a result of the merger between Scottish Hydro-Electric and Southern Electric. SSE is listed on London Stock Exchange and it stock forms part of FTSE 100, FTSE 350 and FTSE All-Share. SSEs business covers three segments: Wholesale, Networks and Retail. The Wholesale segment involves power generation from renewable and thermal plant in the United Kingdom, Ireland and Europe; the Networks segment is responsible for distributing electricity to customer premises in the North of Scotland and the South of England; meanwhile, the Retail segment supplies electricity and gas to residential and business customers in the United Kingdom and Ireland (Financial Times, 2017). Since SSE undertakes both generation and retail supply activities, it is considered a vertically integrated energy business. This makes SSE unique since SSE is the only company listed on London Stock Exchange involved in such a broad range of energy businesses (SSE, 2016a). Market share Regarding Wholesale business, in 2015 SSE had a small market share of 7%, accounting for only a quarter of EDFs share and about half of RWEs share (see Appendix 1). Referring to Ofgem (2016b), in 2015 the market shares of dominant energy producers in the UK remain relatively unchanged compared with these of 2014, which is also the case of SSE. With respect to Retail business, there were over 43 active energy suppliers in Britain by March 2016, most of which offering both gas and electricity supply (Ofgem, 2016a). SSE is included in Big 6 which are widely known as dominant leaders in the market, including British Gas, EDF Energy, E.ON, SSE, npower and ScottishPower. These companies supply gas and electricity to over 50 million household and businesses in Britain, with 87% share of domestic customers by March 2015 (Ofgem, 2016a). SSE is operating in a very competitive and well-functioning energy retail market. The firms market share in the market for energy supply can be illustrated in Appendix 2 and Appendix 3. By March 2016, SSE had the second largest market share of UK electricity supply market (about 15%), while its market share of gas supply (about 13%) only accounted for approximately one-third of British Gass share. Increasing competition in energy industry and SSEs competitive positioning Out of the three segments, Wholesale and Retail businesses have been facing increasing competition in recent years due to the entrance of new rivals in the GB Energy Supply market. There have been some concerns over barriers to entering wholesale and retail energy market such as the complexity and extent of credit requirements or low levels of liquidity in the market. Despite of these, new entry has taken place (see Appendix 4). The result of new suppliers entry is falling market share of the six large suppliers from 90% to 87% between March 2015 and March 2016 for electricity, and 90% to 86% for gas over the same period (Ofgem, 2016a). Specifically, the entry and growth of new suppliers has led to SSEs market share declining. There is a decreasing trend in the number of energy customer accounts for the past three years (see Appendix 5). In addition to the new rivalries entrance to the market, customers switching is another issue that reduce the market share of six large suppliers. Households are increasingly turning to smaller suppliers, with consumers complaining the sector is slow to pass on wholesale energy cuts and offers poor service. The total number of users switching suppliers in March 2016, 476,528 customers, was the highest since November 2013 (Energy UK, 2016). As the market become more and more competitive, attracting and retaining customers can pose challenges to SSE. However, SSE has a clear strategy to differentiate itself and create value by becoming a market-leading, digital and diversified retailer of energy and essential services. According to SSE (2015a), for the past few years SSE has: Launched its first large-scale advertising campaign for the SSE brand in both Britain and Ireland, known as Proud to make a difference campaign. The campaign has been implemented in many forms from TV, radio, billboards, print media to various digital and social media formats; Overhauled its digital channels in order to create a simple, seamless and intuitive customer experience and provide the best possible service at the lowest possible cost; Introduced a new customer relationship management (CRM) platform which facilitates better customer understanding and tailors communications and propositions to the needs of different customers; Developed and reopened sales channels and processes to ensure compliant growth. Additionally, SSEs commitment to decarbonization means that the firm will continue potential expansion in renewable energy portfolio which are comprised of onshore wind, offshore wind and conventional hydro. Furthermore, SSE is the leader in the UK energy industry to handle customer complaints. According to Energy Ombudsman in February 2016, only four out of 100,000 customer complaints required further investigation in the first three quarters of the year, pointing out the fact that 99.969% of SSEs customer issues were fully resolved (SSE, 2016a). 3.1 Evaluate the appropriateness of SVA Model There are many methods for estimating value of a company, including valuations based on asset, dividend, earnings and cash flows. Among these methods, discounted cash flow valuation is the most technical way of valuing a business as it is heavily dependent on assumptions about long-term business conditions. This measure is especially useful for cash-generating businesses which are stable and mature. Alfred Rappaport (1998) developed a simplified approach of cash flow discounting called shareholder value analysis (SVA). SVA model makes assumptions about steady changes in a number of cash flow factors as they are all relevant to sales level. There are obvious advantages associated with the use of this model. SVA is not subject to different accounting policies used by different companies and therefore can be applied across many business sectors. In addition, firms using SVA must concentrate on the future and customers, with specific focus on future cash flows. On the other hand, SVA is not a perfect model as it contains some shortcomings when being used in practice. Irrational assumptions about value drivers, as well as data unavailability are possible drawbacks that analyst frequently encounter when employing this model. 3.2 Justification of variables and proxies Employing the SVA Model to calculate a companys intrinsic value requires assumptions about a number of key variables. Sales growth might be the most important factor in the model, setting the foundation to come up with other variables values such as operating profit, incremental capital investment and incremental working capital investment. In case of SSE, sales growth is determined after careful consideration of historical growth rates, price forecast and potential future projects. For the last three years, sales growth has witnessed a decreasing trend, which can be explained by a number of reasons. First, energy prices in the UK are influenced by oil and coal prices; therefore, when these commodities prices move upward or downward, they are likely to drive gas and electricity prices in the same direction (Ofgem, 2016b). Since the second half of 2014, there were downward trends in oil and coal prices due to oversupplied markets for these commodities, contributing to declining energy prices and therefore SSEs revenues. The movements of oil price can be illustrated in the following figure: Figure 1: Brent Crude Oil price from 2010 to 2016 (Source: Bloomberg, 2016) Second, there are more and more energy suppliers in the UK market. Levels of new entry have been very high recently: 14 new suppliers became active between April 2015 and March 2016, compared to five between April 2014 and March 2015 (Ofgem, 2016a). The presence of new rivals leads to SSEs declining market share as well as the firms revenue. Third, more and more customers are switching to small and medium-sized suppliers, as shown in Figure 2. If this trend goes on, there will be much pressure on expected revenue of large energy suppliers. Figure 2: Monthly increases in the total number of domestic gas and electricity meters supplied by small and medium-sized suppliers (Source: Ofgem analysis of data provided by Xoserve, DNOs and iDNOs, 2016) From the above data, it might seem that SSEs revenue will be struggling in the next few years. However, there are evidences for investors to believe in SSEs sales growth for at least the next 5 years. First, oil price forecasts by World Bank, IMF and EIU indicate crude oil prices will observe steady increases from 2017 to 2025 (Knoema, 2016) (see figure 4, figure 4 and figure 6). Figure 3: World Bank Oil Price Forecast (Source: Knoema, 2016) Figure 4: IMF Oil Price Forecast (Source: Knoema, 2016) Figure 5: EIU Oil Price Forecast (Source: Knoema, 2016) Second, some renewable projects will be fully operational in 2017 and these will definitely support revenue growth in the next few years. As reported by SSE (2016c), three onshore wind projects under construction are expected to come into operation in 2017, including Dunmaglass (94MW), Clyde Extension (173MW) and Bhlaraidh (108MW). After above analysis has been taken into account, the sales growth is determined as the arithmetic average of the changes in sales over the previous three years, giving the result of 0.82%. This sales growth is reasonable given that SSE is operating in increasingly competitive industry, with customers tending to switch to small and medium-sized suppliers in recent years. The operating profit margin is predicted to be 2.87%, which can be worked out by taking the average of the margins in previous three years. The reason behind this assumption is that SSE is an efficient energy supplier committed to maintaining relatively low operating costs in order to make a fair profit. According to SSE (2015a), SSEs indirect costs per customer are around 20% lower than the average across the rest of the major suppliers. The effect of low operating costs can be demonstrated by stable operating profit margins for the last three years, and it is expected that this trend will continue for the coming financial years. The incremental capital investment of 53% is understandable as the company continues to develop secure, sustainable and low carbon energy infrastructure, given that the energy industry is switching to renewable energy sources. In its interim results for the six months to 30 September 2016, SSE announced it plans to invest a record  £1.85bn of capital expenditure and investment in Great Britain and Ireland in 2016/17 (SSE, 2016b). According to Alistair Phillips-Davies, SSE Chief Executive, the firm is making more investment in supporting the modernization of UKs energy facilities, and the total investment and capital expenditure by 2020 is forecast to reach approximately  £6bn. A relatively low working capital investment of 10% is determined since SSEs current assets are just enough to absorb current liabilities in the last few years. Trade and other receivables accounts for a large proportion of SSEs current assets due to the nature of the energy supply business. Meanwhile, current liabilities are mainly comprised of trade and other payables, which is because the company is making heavy investment in renewable energy infrastructure. Simply put, an incremental working capital investment of 10% is appropriate for SSE given that many potential energy projects will be under construction in the coming years. The corporation tax rate of 20% is applied to company profits (HMRC, 2016), and SSEs business is also subject to this rate. Another key variable in SVA is weighted average cost of capital (WACC). The cost of debt is determined as SSEs weighted average interest rate, which is 3.73% for year 2016. Meanwhile, the cost of equity is computed using CAPM model. SSEs beta (0.74) was obtained from FAME database, while the UK Gilt 10 Year Yield (1.40%) collected on Bloomberg website is used as the proxy for risk-free rate; all of these figures were retrieved on 19th January 2017. In addition, the UK market risk premium (5.3%) by Fernandez, et al., (2016) is another key component in the CAPM. Subsequently, a WACC of 4.59% is achieved and this is the required rate of return for SSEs capital providers. In short, the following seven value drivers will be applied in case of SSE: Table 1: Seven value drivers for SVA model Key Drivers Value Sales growth 0.82% Operating Profit margin 2.87% Tax rate 20% Incremental fixed capital investment 53% Incremental working capital investment 10% Planning Horizon 5 Required Rate of Return 4.59% Source: Analysts estimate 3.3 Employment of SVA Model Table 2 illustrates how SVA model is utilized in SSEs case. SSEs revenue of  £28,781m (recorded on 31st March 2016) was increased annually by a sales growth of 0.82% over a 5-year planning horizon. Subsequently, an operating margin of 2.87% was applied to revenues to come up with the firms operating profit. Before arriving at SSEs operating cash flows, a corporation tax rate of 20% was imposed on the operating profit, followed by subtractions of 53% in incremental capital investment and 10% in working capital investment. Afterwards, the present value of future cash flows was estimated by discounting the firms operating cash flows by 4.59% cost of capital. It is noted that SSEs terminal value at year 6+ was discounted twice, the first of which worked out the value at year 5 and the second one brought out the value in present day. After the net present value of  £18,930.7m was figured out, adjustments were made by adding  £360.2m cash and marketable securities, and then deducting  £7,168.8m total debt. After all, SSEs intrinsic value was determined at  £12,122.14m. Table 2: SSEs Shareholder value analysis (unit: million pounds) Year 1 2 3 4 5 6+ Sales 29,018.4 29,257.7 29,498.9 29,742.2 29,987.5 29,987.5 Profit 833.6 840.5 847.4 854.4 861.5 861.5 Associate Profit 206.5 208.2 209.9 211.6 213.4 213.4 Less Tax 166.7 168.1 169.5 170.9 172.3 172.3 Less ICI 125.1 126.1 127.2 128.2 129.3 0 Less IWCI 23.7 23.9 24.1 24.3 24.5 0 Operating Cash Flow 724.6 730.6 736.6 742.7 748.8 902.6 PV of cash flows 692.8 667.8 643.8 620.6 598.3 15,707.4 NPV 18,930.7 Add mkt secs 19,290.9 Less debt 7,168.8 Equity Value SVA 12,122.14 million Actual Value 15,757.52 million FAME access on 19th January 2017 Source: Analysts estimate 3.4 Comparative Analysis SSEs intrinsic value derived from SVA model was  £12,122.14m while its market capitalisation was recorded at  £15757.52m (FAME database, accessed on 19th January 2017), pointing the difference of  £3,635.38m between the two values. One possible explanation for this discrepancy is that all relevant information may not be incorporated into the share price. It could be inferred from Efficient Market Hypothesis (Fama, 1970) that the extent to which the share price is reliable depends on the efficiency of the markets. Under the strong form efficiency, the market value of  £15757.52m will fully reflect all past, present and insider information. On the other hand, if the market is under the weak form efficiency, the market value of  £15757.52m will only reflect the historical prices of the security, and hence lacking reliability. Furthermore, the information asymmetry, e.g. between management and investors and between investors themselves, is another explaining factor. Plesco Sobol (2013) states that investors who are ill-informed about financial disclosures can make unreasonable decisions in their investment. Due to irrational trading behaviours of these investors, share prices may not yield a fair market value. Another cause of the difference between the two values lies in the limitations of SVA model. The constant sales growth every year is not very realistic because the growth depends on potential development and firms strategies, which are subject to annual reviews. In the same manner, keeping WACC (4.59%) constant over 5-year planning horizon is not rational in practice, because the firms capital structure will change over time. Last but not least, the assumptions of sales growth and other key variables depend on each analysts subjective viewpoint. Changing these values by a small percentage might result in considerable change in eventual intrinsic value. 3.5 Sensitivity Analysis The sensitivity analysis performance indicates that SSEs underlying value is highly sensitive to changes operating profit margin. A positive adjustment of 2% made towards the operating margin will result in a substantial increase of 86% in the firms equity value (see Appendix 6). It is worth remembering that SSE is committed to preserve low operating costs so as to gain a fair profit. According to SSE (2015b), the firm has participated in a value program to ensure effective use of people and capital, the overall objective of which is business streamlining and simplification. This program comes with efficiency target, with expected  £100m of annual savings in overheads. In addition, the program involves reduction in offshore wind development as well as disposal of non-core assets. In general, this value scheme is likely to help SSE optimize its investment and re-balance its business. Moreover, it is noticeable that the firms intrinsic value is susceptible to changes in WACC. An adjustment of +2% in the WACC will lead to approximately 50% reduction in the firms equity value (see Appendix 6). According to Fitch Ratings (2016), SSEs equity has been diminishing recently due to the influence of sustained asset impairment losses and generous dividend pay-outs. In agreement with Pecking Order Theory, debt takes priority over equity in case external finance is required (Donaldson, 1961). Because SSEs cost of debt (3.73%) is lower than cost of equity (5.32%), it is appropriate for SSE to obtain  more bank loans to finance its long-term operations, while still making sure cost of capital is kept to a minimum. Particularly Fitch Ratings (2016) claims that SSE has a policy of accessing debt markets, ensuring that its committed borrowings equal to at least 105% of forecast borrowings over a six-monthly rolling period and adequate liquidity will be fulfilled until at least S eptember 2017. 4.1 Background information In the end of July 2014, SSE completed the acquisition of The Energy Solutions Group Topco Limited (ESG), the North west-based provider of energy management services, from Bridgepoint Development Capital for  £66m with an additional  £6m if agreed targets are achieved. Working with private and public sector customers, ESG identify improvements in their management of energy consumption; as well as install, maintain and support building management systems and solutions, saving customers around 20% to 30% of their energy consumption (SSE, 2014). 4.2 Evaluation of the issue in the context of finance theories This acquisition is classified into vertical MA (Mergers and Acquisitions). According to Arnold (2013), vertical MA occur between companies operating in the same industry at different stages of production, i.e. one company acquires another company that is either before or after it in the supply chain process. In case of SSEs acquisition, both SSE and ESG work in the energy industry. SSE involves in all many stages of energy supply chain including wholesale, networks (distribution) and retail; meanwhile ESG engages in the retail business where it is the designer and provider of energy management solutions. Therefore, SSEs acquiring ESG would be a downstream vertical acquisition. So, what is SSEs motivation behind this acquisition? Vertical integration has some advantages, including the attraction of increased certainty of supply or market outlet; reducing cost of search, contracting, payment collection, advertising, communication and co-ordination of production (Arnold, 2013). SSE (2014) states that the acquisition of ESG will strengthen SSEs services in competitive markets for industrial and commercial customers. These services are comprised of electrical and mechanical contracting, lighting services, private energy networks and telecoms, all of which are under the control of Enterprise division which forms part of SSEs retail business. According to Arnold (2013), one of the merger and acquisition motives is synergy in which the two firms together are worth more than the value of the firms apart; hence in this case, ESG will bring commercial synergies to SSEs Enterprise division. SSEs Chief Executive Alistair emphasized that managing energy costs and environmental impact are SSEs big priority for large industrial and commercial customers. Benefiting from ESGs expertise, SSE expects to meet the energy and related demands of these customers in an enhanced manner. It was confirmed that the ESGs existing management team would be in charge of the Enterprise division, and the firm believed that the commitment of the ESG management team and other employees will benefit its customers and the environment in terms of effective energy management solutions delivery. SSEs acquisition of ESG is considered a strategic acquisition in order to achieve external growth. There are two ways to categorize strategic acquisitions: by type of capability transferred and by their relation to corporate strategy (Goold Luchs, 1995). Regarding capability transfer, SSE (2015a) asserts that the acquisition of ESG added new capabilities to the business. (Goold Luchs, 1995) claims that value is created in an acquisition when competitive advantage of one firm is enhanced through the transfer of strategic capabilities including resource sharing, functional skill transfer and management skill transfer. The presence of ESG management team in SSEs Enterprise division will upgrade SSEs capability of strategic planning, ensuring that effective energy management solutions are delivered for the sake of customers. Generally, SSE is expected to benefit from management skill transferred from ESG. Another way to categorize strategic acquisitions is based on their contribution to corporate-level strategy. In other words, acquisitions are assessed considering their connections in maintaining and changing the balance between the firms existing domain and the renewal of its capabilities (Goold Luchs, 1995). An acquisitions contributions are classified into either domain strengthening, domain extension or domain exploration. In light of SSEs acquiring ESG, this would be an illustration of domain strengthening because this acquisition will deepen SSEs presence in retail business, especially reinforcing Enterprise divisions operation. Next, it is essential to see what happened with SSE stock price after the firm made announcement about the acquisition of ESG. Theoretically, when a firm acquires another one, a short-term impact on the stock price of both companies is expected. Specifically, a lot of practical studies point out that the acquiring firms stock price will go down while the acquired entitys stock price will rise (Investopedia, 2016a). With respect to the takeover company, its stock will go down mainly because of a number of uncertainties associated with the acquisition, such as turbulent integration process, lost productivity, additional debt or expense incurred and accounting issues (Investopedia, 2016a). Figure 6 demonstrates SSEs stock prices after the acquisition of ESG was disclosed. Figure 6: SSEs stock price movements after acquisition of ESG (Source: Hargreaves Lansdown, 2014) As can be seen from the above figure, SSEs stock prices witnessed decreases in two consecutive days after the acquisition and this conformed with the empirical studies implication m