Capital Budgeting Essay Example for Free

Capital Budgeting Essay Introduction The purpose of this paper is to analyze and interpret the answers of the Capital Budgeting Case. I will discuss my recommendation about which Corporation and investor should acquire based on the quantitative reasoning. I also will describe the relationship between the net present value and the internal rate of return for the two corporations that are analyzed. Capital Budgeting Case A company is planning in acquiring a new corporation and there are two options with the same cost of $250,000 but both with different 5-year projections of cash flows. The evaluation done to the two corporations (A and B) is based on the Net Present Value (NPV) and the Internal Rate of Return (IRR). The net present value represents the value the project or investment adds to the investor wealth. The NPV method of capital budgeting suggests that all projects that have positive NPV should be accepted because they would add value to the investment. On the other hand, the internal rate of return is defined as the discount rate that equates the present value of a projects cash inflows to its outflows. According to the internal rate of return method of capital budgeting, the investment should be accepted if their IRR is greater than the cost of capital. The results for Corporation â€Å"A† shows a NPV of $20,979.20 based on discount rate of 10%. And, we got an IRR of 13.05% which means that is the discount rate that makes the NPV equal or close to $0.00. On the other hand, the Corporation â€Å"B† with a discount rate of 11% got a NPV of $40,251.47 and an IRR of 16.94%. A positive NPV is considered a good project, and we want to choose the one with the highest NPV. Therefore, I would recommend acquiring the Company â€Å"B† because it has a higher NPV than the other company. Corporation B will be giving us a current value cash return of $40,251.47 above our 11% required rate of return during the next 5 years. And, if we recalculate the NPV using the IRR of 16.94% it will result on an NPV close to $0.00. The relationship between NPV and IRR is based on the discount rate used to bring up the cash flows to the present. For the case of Company â€Å"B†, with the discount rate of 11%, if we have a NPV of $0.00, our IRR will also be 11%. But, if our NPV is higher than $0.00, our IRR will be also higher than 11%. And, if we have a negative NPV, then our IRR will be less than 11%. In other words, the NPV and the IRR most of the time yield the same result of acceptance or rejection. Conclusion In conclusion, the best recommendation is to acquire Company B because it will give us higher current values during the first 5 years and higher returns of the investment.

Insanity in The Yellow WallPaper by Charlotte Perkins Gilman and A Rose

Comparing â€Å"The Yellow Wall- Paper† by Charlotte Perkins Gilman and â€Å"A Rose for Emily† by William Faulkner I picked two short stories that I would like to compare and contrast in this essay. The first story is called â€Å"The Yellow Wall- Paper† and was written by Charlotte Perkins Gilman. The second story I chose is called â€Å"A Rose for Emily† and was written by William Faulkner. Both of these stories are about women who have serious mental problems. These stories are similar in that aspect, but there are also some differences. In this essay, I will compare and contrast these two short stories and determine which one best illustrates insanity. The first thing that I noticed about these stories was that they were purely fictional. I also noticed that they both had a weird twist. â€Å"A Rose for Emily† is about a woman who kills her lover and hides him in her home: The man himself lay in the bed. For a long while we just stood there, looking down at the profound and fleshless grin. The body had apparently once lain in the attitude of an embrace, but now the long sleep that outlast love, that conquers even the grimace of love, had cuckolded him. In â€Å"The Yellow Wall-Paper† the woman starts out normal and gradually sinks into depression. Her depression gets so bad that she begins to see objects in her wall paper: We have been here two weeks, and I haven’t felt like writing before, since that first day. ...

Revlon Ida

CORPORATE PROFILE ? ? ? ? Revlon is a worldwide cosmetics, hair color, beauty tools, fragrances, skincare, anti-per spirants/deodorants and beauty care products company. Revlon is a global color cosmetics, hair color, beauty tools, fragrances, skincare, anti-per spirant / deodorants and beauty care products company Websites featuring current product and promotional information can be reached at www. revlon. com, www. almay. com and www. mitchumman. com. The Company's brands, which are sold worldwide, include Revlon ®, Almay ®, ColorSilk ®, Mitchum ®, Charlie ®, Gatineau ® and Ultima II ®.CORPORATE PROFILE CONT†¦ Type: Public Traded as NYSE: REV Industry: Cosmetics, skin care, fragrance, personal care Founded: 1932 Founder(s): Joseph & Charles Revson, Charles Lachman Headquarters: New York City, New York, United States Key people: Alan T. Ennis, President and CEO CORPORATE PROFILE CONT†¦ Revenue: US$1. 3 billion (2009) Operating income: US$170. 8 million (2009) Net income: US$821. 20 million (2009) Total assets: US$794. 20 million (2009) Employees: 6,800 Parent: MacAndrews & Forbes Holdings: 60% (74% of votes) FMR Corp. : 20% Website: http//www. evlon. com/(US) VISION & MISSION Revlon Inc. Vision is Glamour, Excitement and innovation through High-quality Products at Affordable Prices. ? Revlon Inc. Mission is â€Å"to emerge as the leader in cosmetic and personal care throughout the world. Revlon takes pride in manufacturing the top skin care and strives to please young and older woman alike†. ? HISTORY ? ? ? ? Revlon was founded in the midst of the Great Depression, 1932, by Charles Revson and his brother Joseph, along with a chemist, Charles Lachman, who contributed the â€Å"L† in the Revlon name.Starting with a single product — a new type of nail enamel — the three founders pooled their resources and developed a unique manufacturing process. Using pigments instead of dyes, Revlon developed a variety of new shades of opaque nail enamel. In 1937, Revlon started selling the polishes in department stores and drug stores. HISTORY CONT†¦ In six years, the company became a multimillion dollar organization. ? By 1940, Revlon offered an entire manicure line, and added lipstick to the collection. ? During World War II, Revlon created makeup and related products for the U.S. Army, which was honored in 1944 with the Army-Navy â€Å"E† Award for Excellence. ? By the end of the war, Revlon was listed as one of America's top five cosmetic houses. ? REVLON IN INDIA ? Revlon was the first International Color Cosmetics brand to be launched in India (1995). ? It all began in the year 1994, with formation of Modi-Revlon Pvt. Ltd. , a collaboration between Modi-Mundipharma Pvt. Ltd. (a joint venture between the Umesh K. Modi Group of India and Mundipharma Group of Switzerland) and Revlon of USA.REVLON IN INDIA CONT†¦ ? Today, Revlon is a name to reckon with in the beauty industry in India . It has added glamour and color to the lives of many a women to make them look and feel beautiful and confident. ? ? Revlon has brought to the modern Indian women the excitement and fun of experimenting with trend setting colors and innovative products. The company offers an extensive range of high quality products in different categories namely, color cosmetics, skincare, fragrances, hair care and hair colors. ? REVLON IN INDIA CONT†¦ ?Revlon in India enjoys immense consumer franchise with its world famous brands like Super Lustrousâ„ ¢, Revlon ® Nail Enamel, Colorstay ®, Street Wear ®, Revlon Absolute Câ„ ¢, Flex ®, Charlie ® , Fire & Ice ®, Colorsilk ® and many more. Modi-Revlon ceaselessly continues to introduce new products and color trends keeping in view the preferences of the Indian consumer. It draws expertise from Revlon’s state-of-the-art Research Center in Edison, New Jersey (USA) and complies with its stringent product quality standards. ? ? FAMOUS BRANDS FAMOUS BRANDS FAMOUS BRANDSTOP COMPETITORS FOR REVLON, INC. Avon Products, Inc. ? The Procter & Gamble Company ? L'Oreal SA ? SWOT ANALYSIS STRENGTH ? ? ? ? ? ? ? ? ? ? ? Revlon is the major player in cosmetics, skin care, fragrance and personal care products. It has long history of 75 years. Famous brand especially among the women’s. Despite of heavy debt and net losses from last few years. Product development is the main focus area for Revlon. Strong research and development. Revlon products are sold in more than 100 countries. Revlon 43 percent sales are from United States market.It has been supporting several health programs for Women. Advertising is one of the key areas for Revlon. Revlon aims to provide quality products. Distribution channels are well managed that the reason Revlon products are used in more than 100 countries of the world. SWOT ANALYSIS Weaknesses †¢ Weak financial position due to net losses and heavy debts. †¢ Cutting down number of jobs reduce employee trust on the Company. †¢ Continuous changes in the Organizational Structure may impact the performance for employees. †¢ Besides advertising other marketing areas are he weak. SWOT ANALYSIS Opportunities †¢ Revlon is currently facing financial problems so joint ventures or partnership with other players in the industry may open the doors of new opportunities. †¢ Utilize all marketing methods to promote its products; it will help to boost the sales of the company. †¢ Develop products for male segment. SWOT ANALYSIS Threats †¢ Intense competition with major players of the industry including Procter & Gamble, Unilever, L’Oreal, †¢ Rapid changes in fashion may require heavy budgets for product development & marketing.Revlon has to find some financial assistance to support its operation to sustain its position in the industry. †¢ Revlon selling its products through websites but it haven’t made efforts to develop relations with the customers through online channels. †¢ Government instability and variation in exchange rate in few countries †¢ Focused towards woman segment PRODUCTS Eye Products ? Face Products ? Lip Products ? Nail Products ? Skin Care Products ? EYE PRODUCTS FACE PRODUCTS LIP PRODUCTS NAIL PRODUCTS SKIN CARE PRODUCTS BORROWED STRATEGYIn the 1960s, Revson â€Å"Segmented Revlon Inc into different divisions, each focusing on a different market†. ? He borrowed this strategy from General Motors. ? Each division had its own target customer: ? a. b. c. d. e. f. Revlon, the largest and most popular-priced brand Princess Marcella Borghese, upscale/international Ultima II, premium Natural Wonder, juniors Moon Drops, dry skin Etherea, hypo-allergenic SALES STRATEGY Revlon's entrance into the Japanese market was typical of its international sales strategy. ? Instead of adapting its ads and using Japanese models, Revlon chose to use its basic U.S. advertising an d models. ? Japanese women loved the American look, and the sales for 1962 came to almost $164 million. ? STRATEGIC GOAL ? Strategic Goal is to profitably grow their business. 2011 was a year of many notable achievements, as they continued to execute their business strategy despite continued uncertain global economic conditions. ? From a financial perspective, they grew net sales for the second year in a row, sustained competitive operating margins, achieved their fourth consecutive year of positive free cash flow and improved their capital structure. From a marketplace perspective, they introduced innovative, high-quality, consumer-preferred products across their entire portfolio, they acquired the SinfulColors brand, and they signed two of Hollywood’s most sought-after actresses, Emma Stone and Olivia Wilde, as Global Brand Ambassadors for their Revlon brand. ? ELEMENTS OF BUSINESS STRATEGY They are focused on the five elements of their business strategy, specifically, to ? (i) build their strong brands; ? (ii) develop their organizational capability; ? (iii) drive their company to act globally; ? (iv) increase their operating profit and cash flow; and ? v) improve our capital structure. DEBT LIMITS FLEXIBILITY ? But, here's our concern†¦ Revlon's balance sheet is heavily loaded with debt, so much so that in 2007, the interest payments due exceeded its operating profit (as measured by EBIT) for that year. Even in 2009, the interest payments exceeded 60% of EBIT, making the earnings highly volatile and vulnerable to market fluctuations and interest ratesy. ? DEBT LIMITS FLEXIBILITY ? As a result, Revlon's R spending at 1. 7% of sales amounting to $24 million is dwarfed by L'Oreal's 3. 7% at $666 million. Also, given Revlon's sales at close to $1. billion compared to $24 billion for L'Oreal and $7. 9 billion for Estee Lauder leaves it with much less money to spend on marketing, a crucial factor for success in cosmetics industr ? CORPORATE CSR Overv iew of Revlon's Corporate Social Responsibility Framework ? Please find in the link below Revlon's Corporate Social Responsibility Framework (the â€Å"Revlon CSR†) which is disseminated to all of our employees worldwide. ? The Revlon CSR is monitored and overseen by two of our most senior executives – our Chief Science Officer and our Chief Administrative Officer. The Revlon CSR includes the Purpose, Standards and Measurements in each of the key areas of Safety, Social, Ethical, Regulatory and Environmental. ? CORPORATE CSR The stated purposes are as follows: ? Safety: Provide our consumers with highquality, safe and efficacious products and our valued employees with a safe workplace. ? Social: Enhance women's lives through our products and philanthropic efforts. ? Ethical: Conduct business in an ethical manner. ? Regulatory: Ensure that our products and operating facilities meet or exceed all applicable standards, globally. Environmental: Reduce the environmental imp act of our operations. ? WHAT IF REVLON FOCUSED ON COLOR COSMETICS AND PHASED OUT SKIN CARE AND/OR FRAGRANCES? Revlon is most well known for color cosmetics and commands a significant market share of over 20% in US, which itself constitutes over 18% of the global market for color cosmetics. ? Given, the company average EBITDA margin(Earnings before depreciation, impairment and amortization) for color cosmetics and moderate growth rates in excess of 3%, it would be reasonable to focus on this product segment and to further strengthen Revlon’s market share in the same. We estimate that color cosmetics constitute over 60% of Trefis price estimate of Revlon’s stock. ? CONCLUSION ? In the current scenario, there is forecast Revlon to lose share in the future across all product segments due to its inability to match the competition in marketing and R&D. ? Hence, focusing the limited funds available on a few preferred product categories presents a more viable option for the f uture

Geographical Location Of Ancient Africa Essay - 1824 Words

Geographical location: Ancient Africa is nearly 5,000 miles from north to south, Africa that lies south of the Sahara desert is the second-largest continent and was the home of some of the earliest and most advanced cultures of the ancient world. Most of the rivers and streams in the Sahara are seasonal or intermittent, the chief exception being the Nile River, which from its origins in central Africa, crosses the desert underground before emptying into the Mediterranean. Climate: Africa contains both the world’s largest desert (the Sahara) and the world s longest river (the Nile).Temperatures are highest in desert areas, particularly the Sahara. They are cooler across the south and in mountainous areas and plateau highlands. Rainfall varies dramatically across Africa.Changing weather patterns, however patterns of weather are changing, both locally and across the continent. The Sahara is the world s largest low-latitude hot desert. The area is located in the horse latitudes under the subtropical ridge, a significant belt of semi-permanent subtropical, warm-core high pressure where the air from the upper levels of the troposphere tends to sink towards the ground. This steady descending airflow causes a warming and a drying effect in the upper troposphere. The sinking air prevents evaporating water from rising and, therefore, prevents the adiabatic cooling, which makes cloud formation extremely difficult to nearly impossible. Religion: Sahara and sub-Sahara AfricaShow MoreRelatedIs Studying Ancient Egypt in Its African Context Afrocentric?856 Words   |  4 PagesIs Studying Ancient Egypt in its African Context Afrocentric? Studying Ancient Egypt is African context can be definitively distinguished as Afrocentric. Evidence of this is given from Ancient Egypt’s geographical location, the Ancient Egyptian culture, and linguistics. What is currently known as afrocentrism is a cultural ideology first formed from the work of late nineteenth century and early twentieth century African-American intellectuals. Afrocentrism manifested into its current formRead MoreHistorical Characteristics Of Ancient Egypt Essay1299 Words   |  6 Pagesworldview and religion based on their location and geographical surroundings. These influences would be evident in some circumstances and in others might to be subtler. A prime example of a people group that was molded by the location of the civilization is Egypt. Egypt is located in Northern Africa and is surrounded by and impacted by the Sahara Desert, Mediterranean Sea, Red Sea, and running through the civilization is the Nile River. These geographical characteristics play a vital role in theRead MoreThe Human Race Of South Africa937 Words   |  4 Pagesbeen distributed in different geographical locations with a particular physical feature. Below are some of the races found in various parts of the world? The Natural habitat Caucasian from North Africa, the Indian, Southwest Asia, and Europe. The group is made up of Nordic, Alpine, east Baltic, Mediterranean among other groups. These groups of people are different from other groups significantly more so the high profiling individuals. Natural habitat in East and West Africa, present with curly hair,Read MoreSymbolism in The Negro Speaks of Rivers by Langston Hughes1074 Words   |  5 Pagesthese qualities. In â€Å"The Negro Speaks of Rivers†, the river stands as a symbol of endlessness, geographical awareness, and the epitome of the human soul. Hughes uses the literary elements of repetition and simile to paint the river as a symbol of timelessness. This is evident in the first two lines of the poem. Hughes introduces this timeless symbol, stating, â€Å"Ive known rivers: Ive known rivers ancient as the world and older than the flow of human blood in human veins† (Hughes 1-2). These openingRead MoreThe Egyptians were experts at trading, importing and exporting goods with various countries. Due to800 Words   |  4 Pagesits geographical location, Ancient Egypt was able to obtain great success through trading and commerce. The Nile River provided many inlets into the Red Sea and Mediterranean Sea, these passages allowed for greater opportunities for trading and communication with neighboring countries. The use of vessels proved to be a great resource in securing the Egyptian economy with its vast amount of riches, providing the main mode of transportation for trade and travel. This paper will examine Ancient Egypt’sRead MoreIndia Size and Location1398 Words   |  6 PagesINDIA – SIZE AND LOCATION 1 I ndia is one of the ancient civilisations in the world. It has achieved multi-faceted socioeconomic progress during the last five decades. It has moved forward displaying remarkable progress in the field of agriculture, industry, technology and overall economic development. India has also contributed significantly to the making of world history. The Tropic of Cancer (23 ° 30N) divides the country into almost two equal parts. To the southeast and southwest of theRead MoreMaps And Its Impact On The Borders, Conflicts Over Territories, Citizens And Resources1587 Words   |  7 Pagesconstructions that are linked to politics; the viewers of maps can change its implications as they add many different factors throughout experiences and geographical knowledge as this maybe a representation of the world to them. However it can be considered that maps can be more then representations of the legitimacy of nations, it can create geographical understanding, political agendas and social stereotypes. The ‘’Africae novo’’ map founded in the early 1630’s by the Dutch cartographer Willem BlaeuRead MoreAmerican Media And Its Impact On American Culture1061 Words   |  5 PagesAmerican media often displays Africa as a place of extreme poverty and lack of culture. In contrary however, African people had many advances before the arrival of the Europeans. The advances of the African Kingdoms are shown through their successful trade routes, ordered government, wealth, Education system, individual morals and art. To start, the advances of ancient African culture is shown through their successful trade routes. As document 1 shows, the location of early african empires was essentialRead MoreRise Of The Roman And Persian Empire Essay1582 Words   |  7 Pagesconsider when thinking of successful empires would be geographical location. The second factor would have to be the leadership, and the third would have to be the method in which the empire expands. All of these factors are what makes a small civilization with great potential a formidable empire that lasts longer than a lifetime. The best place to the start has been and will always be the beginning. The beginning in this case is the earth, the geographical qualities that a land holds can do wonders forRead MoreMid-Term Paper1045 Words   |  5 Pagesto their diversity and uniqueness, such as the different interaction factors with other cultures. However, one of the most important factors of all is the geographical conditions in which the culture had to develop to. Geography can affect a culture greatly in many different ways. Geography provided the environment, resources, and the location crucial to the development of a culture. The most important factor of all is the resources which helps the culture to develop drastically. Resources help

Passionate Men, Emotional Women Psychology Constructs...

Introduction Framework: In her text Passionate Men, Emotional Women: Psychology Constructs Gender Difference in the 19th Century, historian Stephanie A. Shields delineates the ways in which the Western modern project required in its logic of construction a need to create and reproduce an epistemological, discursive, and pseudo-scientific dichotomous relationship between the genders. Specifically, Shields emphasizes the ways in which a certain dogmatic praxis of evolutionary theory, in juxtaposition with social science, worked to produces a science of psychology that in turn generated a hierarchical understanding of gender relations, premised on the politics of emotions and the mind/body divide. This paper will explore the theoretical and political consequences of the tactful discursive construction of gender relations, as explored by Shields. Thus, this paper will not merely provide an exploration of that binary, and the ways in which it was necessarily conducive of the production of unequal social and economic relations. Rather, this paper will use specific tenants within Shields’ argument to reveal how the discursive methodology via which that gendered binary was produced was as necessarily conducive to the production of inequality, as that gendered binary itself. This paper will specifically utilize Shield’s exploration of the mind/body division, to demarcate how the female/feminized body, and its relationship with reason/emotion worked to produce a femaleShow MoreRelatedOrganisational Behavioure23151 Words   |  93 PagesMoods After reading this chapter, you should be able to: 1 Differentiate emotions from moods. 5 2 Discuss the different aspects of emotions. Discuss the impact emotional labor has on employees. 6 Identify the sources of emotions and moods. Discuss the case for and the case against emotional intelligence. 7 Apply concepts on emotions and moods to OB issues. 3 4 Describe external constraints on emotions. LEARNING 258 OBJECTIVES ROBBMC08.QXD.0132431521 Read MoreHorace Gregory s Short ( But Perfectly Formed D. H. Lawrence : Pilgrim Of The Apocalypse10205 Words   |  41 Pagesformed) D. H. Lawrence: Pilgrim of the Apocalypse (1933) explains how Lawrence’s two essays on psychoanalysis were motivated by his desire to understand. What he needed to understand was why he was as he was; how the development of masculinity and gender identity were influenced and how obstacles such as an over-possessive mother might impair these developments. Hence, his works on psychoanalysis were not written to be an acceptance of Freud’s doctrines but rather a critical approach to them. GregoryRead More Reactions to Patriarchal Oppression by Jane Eyre and Bertha Mason3826 Words   |  16 PagesJane Eyre and Bertha Mason Missing Works Cited    Jane Eyre and Bertha Mason are both oppressed by the British patriarchal system were men are the makers, interpreters, and enforcers of social and political rules. However, these two women differ greatly in the ways that they accept and cope with the reality of their place in society, and it is these differences that ultimately determine their fate. Jane Eyre follows the rules. Although she initially revolts against what she believes to be unfairRead MoreStephen P. Robbins Timothy A. Judge (2011) Organizational Behaviour 15th Edition New Jersey: Prentice Hall393164 Words   |  1573 PagesManagement Skills 8 †¢ Effective versus Successful Managerial Activities 8 †¢ A Review of the Manager’s Job 9 Enter Organizational Behavior 10 Complementing Intuition with Systematic Study 11 Disciplines That Contribute to the OB Field 13 Psychology 14 †¢ Social Psychology 14 †¢ Sociology 14 †¢ Anthropology 14 There Are Few Absolutes in OB 14 Challenges and Opportuni ties for OB 15 Responding to Economic Pressures 15 †¢ Responding to Globalization 16 †¢ Managing Workforce Diversity 18 †¢ Improving Customer ServiceRead MoreStatement of Purpose23848 Words   |  96 Pages................................................................................................................ 12 Psychology (Clinical--research)............................................................................................ 14 Psychology (cross-cultural) .................................................................................................. 16 Psychology (School) ...........................................................................................................Read MoreIntercultural Communication21031 Words   |  85 Pagescommunication we can unknowingly cause confusion and misunderstandings. For these intercultural businesses to breach the cultural barriers encountered when stepping into foreign grounds it is vital for business people to fully understand the cultural differences that exist so as to prevent damaging business relations due to intercultural communication gaps. We should also be aware of the reasons for the development of the world into a global system: a. The development of technology has enabled a constantRead MoreDeveloping Management Skills404131 Words   |  1617 PagesManagement Skills 8 What Are Management Skills? 9 Improving Management Skills 12 An Approach to Skill Development 13 Leadership and Management 16 Contents of the Book 18 Organization of the Book 19 Practice and Application 21 Diversity and Individual Differences 21 Summary 23 SUPPLEMENTARY MATERIAL 24 Diagnostic Survey and Exercises 24 Personal Assessment of Management Skills (PAMS) 24 What Does It Take to Be an Effective Manager? 28 SSS Software In-Basket Exercise 30 SCORING KEY AND COMPARISON DATARead MoreFundamentals of Hrm263904 Words   |  1056 PagesDiscrimination 71 ETHICAL ISSUES IN HRM: English-Only Rules 72 Enforcing Equal Opportunity Employment 72 The Role of the EEOC 72 Office of Federal Contract Compliance Program (OFCCP) 73 Current Issues in Employment Law 74 What Is Sexual Harassment? 74 Are Women Reaching the Top of Organizations? 75 DID YOU KNOW?: EEOC Reaches Out to Young Workers 76 HRM in a Global Environment 78 Summary 79 Linking Concepts to Practice: Discussion Questions 52 Developing Diagnostic and Analytical Skills 52 Case 2: Nine-to-FiveRead MoreOrganisational Theory230255 Words   |  922 Pagesbased approach enables students to see the relevance and challenge of all the different perspectives and theories that constitute organization theory. Because of the way the book was developed by its three authors, readers can see that there are differences in the way that its theories and challenges can be understood, that organization theory is not a monolithic subject but rather a rich resource for developing understanding of organizations. Each chapter begins with an Introduction which outlinesRead MoreManagement Course: Mba−10 General Management215330 Words   |  862 Pagesperformed all 18 pin-making tasks. In fact, Smith found that 10 workers specializing in a particular task could make 48,000 pins a day, whereas those workers who performed all the tasks could make only a few thousand at mos t.4 Smith reasoned that this difference in performance was due to the fact that the workers who specialized became much more skilled at their speciï ¬ c tasks and as a group were thus able to produce a product faster than the group of workers who each performed many tasks. Smith concluded

Lady Macbeth of Shakespeares Play, Macbeth Essay

Lady Macbeth of Shakespeares Play, Macbeth Lady Macbeth is the most interesting and complex character in Shakespeares play, Macbeth. She is, in fact, the point on which the action pivots: without her there is no play. The purpose of this essay is to describe Lady Macbeth’s role in the play and discuss why this makes her the most fascinating character. Her evil doings are the main reasons why she dominates the plot so greatly. These include the following: considers Macbeth to be a wimp not wanting to murder; letting Macbeth fulfill her plan; taking control over Macbeth’s thoughts and actions; turning Macbeth from a loyal man to a greedy, coldhearted human being. Also Lady Macbeth’s transformation in character and her relationship†¦show more content†¦Lady Macbeth tells her husband that â€Å"Is too full of the human kindness† which means she considers him to be a â€Å"wimp† and that she’ll have to do it all herself. Lady Macbeth’s actions shape the first two acts which proves she is the point on which the action pivots. Lady Macbeth continues to convince and persuade Macbeth into thinking her plan will pay off. Eventually Macbeth decides against the murder of his king but Lady Macbeth shames him for not being able to murder, threatening to take away her love from him if he does not. This threat shocks Macbeth into saying â€Å"yes†. Lady Macbeth outlines her plan to kill King Duncan while asleep as a guest in their castle. Macbeth had the dagger in his hand ready to kill the King but he just could not do it until the King started waking up, it was then he knew he had no choice. He regrets his actions afterwards, But where fore could not I pronounce Amen? / I had most need of blessing, and Amen / Stuck in my throat which is proof that he never was willing to kill the King but Lady Macbeth assures him â€Å"a little water will wash away their guilt†. Macbeth having killed the King eventually kills several others to cover his tracks. This proves Lady Macbeth transformed her husband by saying things such as â€Å"Are you a man?† She made him feel at fault so things could be done her way. If it weren’t for Lady Macbeth, Macbeth would have never have killed anyone. This story of LadyShow MoreRelatedThe Relationship of Macbeth and Lady Macbeth in William Shakespeares Play1131 Words   |  5 PagesThe Relationship of Macbeth and Lady Macbeth in William Shakespeares Play The play begins when Macbeth meets three witches and is given three prophecies - one of which is that he will be king. In Lady Macbeths first scene she is reading a letter from her husband telling her about the witchs predictions. Upon reading the letter she instantly decides to obtain the crown for Macbeth through any possible means. Lady Macbeth is viewed as very controlling, strong, and certain;Read MoreThe Negative Portrayal of Lady Macbeth in Shakespeares Play, Macbeth2676 Words   |  11 Pages‘Macbeth’ is a play in which a Lord and his Lady come into supreme power through acts of injustice and despicable inhumanities. In the play Macbeth there is no main focal theme that overrules the others; the play however has several underlying themes, namely there are important themes i.e. good and evil (like ying and yang), greed and power, guilt and conscience, fear, ambition – this leads to the murder of other people illustrating to the reader that even the most sane of people can result to characterRead MoreMacbeth and Lady Macbeth as Evil Murderers in William Shakespeares Play1016 Words   |  5 PagesMacbeth and Lady Macbeth as Evil Murderers in William Shakespeares Play At the start of this play Macbeth is mentioned by witches which doesn’t give him credibility with the audience, whilst soon after Macbeth is seen as a brave, loyal and trustworthy servant of his king, Duncan. Almost as soon as the play starts, you hear of Macbeth’s bravery; â€Å"Brave Macbeth-well he deserves that name†¦Like Valour’s minion.† But soon after he has his meeting with the witches he is alreadyRead More The Evil Actions of Macbeth and Lady Macbeth in Shakespeares Play1593 Words   |  7 PagesMacbeth is a tragedy written by Shakespeare roughly between the years 1603 and 1606. It was a play written following the death of Queen Elizabeth. The king at the time - James I of England/King James VI of Scotland was known to be a big supporter of theatre, witchcraft and demonology. Shakespeare and his associates soon into their career became known as the King’s men. The Kings ancestry was traced back to Banquo, a character from the play. At the beginning, Macbeth is spoken about by the threeRead More Lady Macbeths Strategy in William Shakespeares Play Macbeth1612 Words   |  7 PagesLady Macbeths Strategy in William Shakespeares Play Macbeth In the seventh scene of act one Macbeth has left the banquet, and expresses his doubts about murdering Duncan in a monologue. Lady Macbeth comes in, and argues with Macbeth, until she manages to convince him, that he has to murder Duncan. To do that Lady Macbeth uses mainly two arguments. Letting I dare not? wait upon ?I would? like the poor cat i? the adage? (lines 43-44). Lady Macbeth tells Macbeth here that he shouldnRead MoreMacbeth And The Future Contingency Of Future Persons By Luke Wilson950 Words   |  4 PagesIn the journal article â€Å"Macbeth and the Future Contingency of Future Persons† by Luke Wilson, the author claims that Shakespeare’s plays are usually deeply invested in the reproductive futurism; 33 out of 37 plays are based on the future seen through the figure of the child that is particularly the heir of the father or mother, but Wilson claims that William Shakespeare’s play, Macbeth, is told as an early modern anti-natalist point of view which is â€Å"a philosophical position that assigns a negativeRead MorePsychoanalytic Ideas And Shakespeare By Inge Wise And Maggie Mills1420 Words   |  6 PagesShakespeare in general are used throughout the book . The authors focus on psychopathic fiction characters in six plays Hamle t, Macbeth, twilight nights, King Lear, and the Tempest. The book when you read the reviews and the induction of the book is very misleading, the book should be called interpretations of other authors who have a written on the psychoanalytic some of Shakespeare s major plays. Whenever Mill and Wise that would give their analysis of what the train meant, to me did not make senseRead MoreA Comparison of Shakespeares Macbeth and Rupert Goolds Film Adaptation 954 Words   |  4 PagesWilliam Shakespeare’s masterpiece, Macbeth, is a tragedy brilliantly brought to the 21st Century by Rupert Goold. Although Shakespeare’s Macbeth is a play set in 16th Century Scotland, Rupert Goold modernizes the play by changing the setting to a Soviet-styled country and implementing modern elements into the characters and theme. Although Shakespeare’s Macbeth and Rupert Goold’s film adaptation share many ideologies and a general storyline, a difference exists in the settin g, the characters, andRead MoreCharacterization Of Macbeth1276 Words   |  6 Pages But with this answer comes another question: why would Shakespeare name the main character Macbeth when his monarchs were Elizabeth I and James I? What message was he trying to send by using the name of Macbeth, the king of Scotland in 1040? In Jonathan Goldberg’s essay â€Å"Speculations: Macbeth and source† in Jean E Howard’s anthology on Shakespeare, Goldberg explains how the King Duncan in the play is a reflection of the real life Duncan I from Scotland in the 1030s when Scotland was going throughRead MoreWilliam Shakespeare s Macbeth, The King Of Scotland944 Words   |  4 PagesShakespeare’s inspiration of adapting a historical event to the character Macbeth is what leads Shakespeare’s play to success. The connection between both the historical version and a play version is known to be extraordinary. The imagination to take one character and twist his histo ry is fascinating in every aspect leading readers to know more about the play. Shakespeare’s portrayal of the tragedy Macbeth compares and contrasts to the historical biography of Macbeth as the king of Scotland. Shakespeare’s

Corporate Philanthropy Corporate Finance

Question: Discuss about theCorporate Philanthropy for Corporate Finance. Answer: Introduction Throughout the twentieth century, there have been debates over purpose of the business organizations. However, the traditional view of the business organizations reveals the fact that the purpose for the existence of business organizations is to achieve capital in order to produce and sell goods and services at profit and directing these operations towards the benefit of the shareholders (Benihoff, 2007). This traditional view of the business organizations has led to several debates and the business theorists and the reformers has emphasized upon broadening the organizational responsibilities so that they can embrace the economic together with the social goals. Thus taking into consideration the tension that exists between the traditional view of the organizational purpose and its broadening responsibilities, the essay strives towards emphasizing upon the concept of corporate philanthropy taking into consideration the function and the contemporary landscape of corporate philanthropy. Before directly jumping into the concept of corporate philanthropy, it is important gain an understanding of Corporate Social Responsibility (CSR). CSR tend to refer to the soft and voluntary self regulations that are generally adopted by the firms for the enhancement of the companys aspects in context to the environmental and human rights issues and labor issues (Burlingame and Young, 2008). Thus CSR can be defined as the responsibility of the business organizations and the urge on their part to take actions that extends beyond their legal obligations and business or economic aims and objectives. So, within this framework of Corporate Social Responsibility, the concept of corporate philanthropy is considered to be a specific type of CSR activity on the part of the business organizations. It is generally looked upon as an act donation on the part of the corporations i.e. donating profits or resources to the non-profit organizations in either in the form of cash or facilities, service s, property or advertising support (Albinger and Freeman, 2007). Again, there are some business organizations that form employee volunteer groups who are assigned to the project of corporate philanthropy. Moreover, elaborating on the above concept of corporate philanthropy and reviewing the key trends and best practices in the social investments philanthropic giving by the business organizations, it is observed that philanthropy is evolving at rapid pace from the traditional approach of facilitating small and multiple grants towards the support of individual programs to a modern approach that is more thoughtful and engaged approach on the part of the strategic funders. Due to this transformation, the present day business organizations emphasize upon seeking a deeper level of engagement in context to the causes they are eager to support (Bae and Cameron, 2006). The major key drivers that have led to the shift from the traditional philanthropy can be looked upon as a belief on the part of the businesses that if they focus upon a single issue or set of issues, then it would lead to improved impact. It is also due to the desire on the part of the businesses to leverage more of their exist ing resources and work in collaboration with the other funders for deriving effective solution of the social issues. The change has also been due to the enhanced understanding on the part of the business organizations towards the importance of archiving sustainability in context to the both the social purpose sectors and the social purpose organizations. Again, in context to the corporate, there are also other drivers in addition to the above discussed drivers. Brown et al., (2006), put forward that the first deriver can be related to the increased expectation on the part of the employees of the corporations towards the involvement in corporate social investment and enhanced understanding of the realization of value by the corporations by aligning their social activities with their corporate purposes. Moreover, being more Australia specific, it is observed that there are two additional drivers for change. The first includes the funding environment of Australia that is very much cons trained that demands alternative funding models. Campbell et al., (2009), revealed, the second driver include the move towards person centric approaches where the main focus of support is the individual needs that leads to funding in context to the wrap around services. Moreover, where in the international business environment, the evolution in corporate philanthropy is led by the non-corporate organizations; the corporate philanthropy in Australia is being led by both the non-corporate and corporate organizations and the corporate in Australia tends to play a major role in social investment (Johnson, 2008). Emphasizing upon the best practices in corporate philanthropy, it can be said that there has been shift from traditional philanthropy to strategic philanthropy. Holmes and Sandra, (2010), put forward the fact that the strategic philanthropy guides the business organizations to direct their business principles and practices towards social investment activities. Thus under this practice, the corporate and non-corporate philanthropic organizations are making strategic investments on the basis of the theory change, they also strive towards evaluating and measuring the outcomes and base their funding on the outcomes and are keen towards making long term investments rather than planning to invest in something new. This can be illustrated with the example that the Lien Foundation in Singapore commissioned the Economist Intelligence Unit so that they can conduct their survey to rank 40 countries on the basis of the provision of the end of life care and the findings of the survey was broadly shared as the Quality of Death index (socialventures, 2015). The second practice involves the focus of the philanthropic organizations towards building the capacity for the organizations operating for social purposes to ensure a sustainable change an impact (Johnson and Orace, 2006). This can be illustrate with the example of Salesforce.com Foundation that worked as a traditional grant making foundation for several years and then finally in the year 2009, it started selling its software to higher education customers at a discounted rate (socialventures, 2015). The third practice involves menaced focus upon the systematic change and issues against providing a part of a single problem i.e. implementing the place based solutions. Under this practice, the philanthropic organizations strive towards addressing the root cause of the social problems and so this led to a shift in the paradigm of funding one organization to providing support to the complementary initiatives by targeting a range of systematic and complex issues related to particular group of population especially in a specific geographic location (Godfrey et al., 2009). For example, Woodside Development Fund in Australia launched an initiative of bringing different organizations together to focus upon improving the early childhood development over 10 years (socialventures, 2015). The fourth practice involves promoting collaborative working among the government, social purpose organizations and non-government funders. The concept of collaboration in philanthropy has emerged as a popular way of being more effective of philanthropic giving (Greening and Turban, 2009). For example, Edna McConnell Foundation in US has entered into partnership with other funders and also with a social purpose advisory organization for the transformation of the life trajectories of the vulnerable youths and those youths who are economically disadvantaged (socialventures, 2015). The fifth practice involves enhanced alignment and integration of the social activities with the corporate business taking into consideration the shared value. Under this practice the philanthropic corporate are aligning and integrating their corporate affairs and the social activities that proves to be beneficial for both the external and the internal stakeholders and thus as a result tends to achieve their commercial out comes that include enhanced brand promotion, retention of the staff members and enhanced loyalty on the part of the customers in addition to the targeted social outcomes (Turban and Greening, 2006).. For example, the corporate involved in this practice include NAB, Lion and GPT group in Australia and other multinational companies like Nestle, Unilver and Southwest Airlines (socialventures, 2015). The sixth practice involves impact investing on the part of the organizations that also includes the social impact bonds. Under this practice, the investor tends to invest their capital in an enterprise involved in generating social or environmental benefits and also financial results (Su and Sauerwald, 2015). So this facilitates in attracting both non-corporate and corporate philanthropic organizations. For example, Westpac Foundation and Commonwealth Bank in Australia made an investment of $10m Social Benefit Bond of the Benevolent Society so that the number of children in and out of the care home can be reduced in the year 2013 (socialventures, 2015). The seventh practice involves increased operational transparency especially in online operations. In this context, most of the Australian entities strive towards sharing their financial reports and investment policies together with their vision and impact. In context to the above discussed philanthropic practices adopted by both the corporate and non-corporate organizations, it has been argued by Wiliams and Barrett, (2000), that even though the corporate philanthropy practices on the part of the business organizations might not lead to tangible benefits, it is obvious that it facilitates in enhancing the brand image and reputation of the company. Campbell and Slack, (2007), also put forward the fact that the corporate philanthropic practices help the companies to attract the employees, retain the talent, enhances the morale of the employees, enhances the reputation of the company as a corporate citizen, attracts the customers and thus definitely leads to financial gains. Conclusion Thus from the above discussions, it can be inferred that corporate philanthropy is part of CSR practices on the part of the organizations that provides an opportunity to the corporations to promote and present itself as socially responsible corporate citizen. Moreover with the passage of time, there has been shift in the parading from social giving in form of cheques and cash to taking active participation in social issues by adopting the above mentioned practices. Moreover, taking into consideration the indirect benefits of corporate philanthropy in terms of enhanced brand image, reputation, employee morale and productivity and financial gain, it is advisable that the corporate philanthropy should be espoused upon by large number of corporations. References Albinger, H. and Freeman, S., (2007) . Corporate Social Performance and Attractiveness as an Employer to Different Job Seeking Populations. Journal of Business Ethics 28, 243-253. Bae, J. and Cameron, G., (2006) . Conditioning Effect of Prior Reputation on Perception of Corporate Giving. Public Relations Review 32, 144-150. Benihoff, M. (2007) The Business of Changing the World, New York: McGraw Hill. Brown, W., Helland E. and Smith, J., (2006). Corporate Philanthropic Activities. Journal of Corporate Finance 12, 855-877. Burlingame, D. and Young, D., (2008) Corporate Philanthropy at the Crossroads, Bloomington, IN: Indiana University Press. Campbell, D. and Slack, R. (2007). Corporate "Philanthropy Strategy" and "Strategic Philanthropy": Some Insights From Voluntary Disclosures in Annual Reports.Business Society, 47(2), pp.187-212. Campbell, L., Gulas C. and Gruca, T., (2009). Corporate Giving Behavior and Decision-Maker Social Consciousness. Journal of Business Ethics 19, 375-383. Godfrey, P., Merrill, C. and Hansen, J., (2009). The Relationship Between Corporate Social Responsibility and Shareholder Value: An Empirical Test of the Risk Management Hypothesis. Strategic Management Journal 30, 425-445. Greening, D. and Turban, D., (2009) Corporate Social Performance As a Competitive Advantage in Attracting a Quality Workforce. Business Society 39, 254-280. Holmes, Sandra, (2010) Corporate Social Performance: Past and Present Areas of Commitment, The Academy of Management Journal, 20: 433-438. Johnson, O. (2008). Corporate Philanthropy: An Analysis of Corporate Contributions.The Journal of Business, 39(4), p.489. Johnson, Orace, (2006) Corporate Philanthropy: An Analysis of Corporate Contributions, 39 Journal of Business: 489-504. Lim, T. (2006). Measuring the Value of Corporate Philanthropy: Social Impact, Business Benefits and Investor Returns.SSRN Electronic Journal. Marinetto, M. (2009). The Historical Development of Business Philanthropy: Social Responsibility in the New Corporate Economy.Business History, 41(4), pp.1-20. socialventures. (2015).Giving that packs a punch: best practice in philanthropy today - Social Ventures Australia. [online] Available at: https://www.socialventures.com.au/sva-quarterly/giving-that-packs-a-punch-best-practice-in-philanthropy-today/ [Accessed 14 Sep. 2016]. Su, W. and Sauerwald, S. (2015). Does Corporate Philanthropy Increase Firm Value? The Moderating Role of Corporate Governance.Business Society. Turban, D. and D. Greening, (2006). Corporate Social Performance and Organizational Attractiveness to Prospective Employees. Academy of Management Journal 40, 658-672. Wiliams, R. and Barrett, J., (2000). Corporate Philanthropy, Criminal Activity, and Firm Reputation: Is There a Link? Journal of Business Ethics 26, 341-350.