Report on the viability of Braeside Distillery Essay

Report on the viability of Braeside Distillery - Essay Example This includes external factors like, an increase in the prices of oil, which has the capability of increasing its fixed costs. On an overall perspective, the company plans at producing and selling 30,000 bottles of Pure Gold, and if all factors remain constant, this is a very profitable initiative. For purposes of determining the viability and profitability of this project, there will be a need of using the concepts of the Break Even analysis. This will help the company to identify the point where the sale and production of Pure Gold will not result to a loss, or even a profit (Epstein, 2011). This point of intersection is called the Break Even point. Before the identification of this point, the following are the assumptions that the company should undertake, By carefully looking at this graph, where total revenue and total cost intercept each other, is the Break Even point. This means that, it is at this point of production, where the company will not make any losses nor any profits (Epstein, 2011). From the calculations and the graphical representation, it is possible to denote that the break-even point is 3980, which is a very low figure. This means that the production and sale of Pure Gold at the conditions identified is a very profitable venture. Furthermore, as previously discussed, the margin of safety of project is very high, which stands at 86.73%. This means that if the sales of the company fall to 86%, the company will still make some profits. One of the major areas where the company is vulnerable to is on the currency fluctuations and value (Epstein, 2011). Currently, the value of the currency stands at 1 pound is equal to 1.28 Euro. However, if the strength of the Euro increases, against the pound, this means that the profitability of the company would decrease. An increase in the strength of the Euro would mean that it trades at a lower price of 1.28 against the pound. Take for example; the current

Enron Corporation Assignment Example | Topics and Well Written Essays - 750 words

Enron Corporation - Assignment Example Its CEO Ken Lay was one of President George W. Bush’s personal friends. Both Ken Lay and CFO Jeff Skilling and later Andrew Fastow were regarded as leaders to emulate. Smart, suave and ambitious, they were regarded as the embodiment of corporate success. But a series of events quickly turned the tables on the fortunes of this billion dollar company and its management. In fact, even its auditors Arthur Andersen were considered culpable and not only removed as incompetent, but the fallout of the entire debacle caused them to close down their businesses all across the world. In hindsight and as a result of investigations, it was determined that there were a number of reasons behind the inglorious fall and demise of this once great enterprise. Notwithstanding the obvious reasons why the CEO, CFO and some other heads of business departments worked in unison to give a highly false and misleading picture to corporate America and the public at large, it seems that they surely thought they were the smartest guys in the room and could continue to hoodwink the masses with false notions of success. Was It a Question of Structure? The puzzling fact is that why did it take so long for the facts to unravel and the truth to reveal itself. With a corporation the size of Enron, and its business interests spread all over the world, it seems amazing that the real state of affairs was kept out of the eyes of employees, what to say of the general public. Did the reporting structure have something to do with it? Auditors combing through the records of the failed corporation have noticed that the scale of the accounting fraud was widespread and resonated throughout most of the corporation. This included false and creative reporting, misclassification of assets and liabilities and other such manipulations. In fact right from 1997 till its demise, Enron top executives were concerned with over-reporting profits and revenues and understating liabilities and expenses to present an i ncorrect picture of success to the world (Maclean & Elkind, 2003). So the whole edifice was crumbling and it was a case of rampant and collusive corruption and misreporting at almost all levels. The matrix reporting structure, where one reports to a direct supervisor as well as a regional head elsewhere is suggested as a good dual reporting mechanism to prevent irregularities. Was it a Question of Exceeding One’s Scope of Authority? Another reason that has been pointed out as the cause of the demise of Enron was that executives tended to exceed their limits or boundaries of authority. In fact, Ken Lay has claimed that he sometimes did not know exactly what Skilling and Fastow were doing in terms of coking up the books and presenting a false picture to investors and the general public. But the fact remains that authority and responsibility cannot be separated. Ken Lay as CEO must be held criminally liable for the doings of his CFOs as it was he who directed them to get the res ults that were shown on the books. So, even this argument does not hold weight. Executives are responsible for their own actions and directives, no matter what the chain of command. Was it a Question of Corporate Culture? Another excuse or reason pointed for the collapse of Enron was that it was due to the corporate culture of success that the executives had created over the years. Enron had earned a name for itself under Lay, and he wanted to remain

TEXTBOOK CJ2012 FAGIN-Explain a motion for discovery and for Essay

TEXTBOOK CJ2012 FAGIN-Explain a motion for discovery and for suppression - Essay Example Thus, any evidence, which the police gather in violation of the provisions of these amendments, becomes invalid in a court of law to secure a conviction. The defendant in a criminal case has to right to request to the court to instruct the prosecution to provide him or her all the materials that they have gathered as evidence in the alleged offence. This will help the defendant to understand the nature of the evidences that the prosecution will use to argue their case. Thus, an examination of these evidences will enable the defendant to prepare for the trial and prove his or her innocence. The courts in the US function with a view to ensure a free and fair trial to all citizens. Therefore, it is in the interest of justice that the defendant be given all opportunities to examine the evidences that the prosecution has collected against him. During the trial, the prosecution, who is already in possession of the evidence, will use these materials to argue their case to prove that the defendant has committed a particular offence. Hence, in the interest of natural justice, the defendant also must receive the opportunity to examine the evid ence so that he or she can prepare the defense accordingly during the trial. It is on this premise, to ensure fair trial, that the defendant is provided the right to the motion for discovery. The motion to suppress is another significant right offered to the defendants under the provisions of the law, to ensure a free and fair trial, through the Fourth and Fifth Amendments to the Constitution. This provision confers on defendants the right for a motion, requesting the court to direct the prosecution to suppress certain evidences that have been obtained through illegal means. The main issue at stake in Suppression Motions is whether police officers â€Å"obtained evidence in violation of a constitutional or statutory right† (Jorgensen 7). Thus, if the

Corporate Social Responsibility College Essay Example | Topics and Well Written Essays - 1500 words

Corporate Social Responsibility College - Essay Example (Marrewijk 2003 p 95). The European Commission (2001) defines CSR so that it incorporates social, environmental and economical aspects: CSR is a concept whereby companies integrate social and environmental concerns in their business operations and in their interaction with their stakeholders on a voluntary basis." (European Commission 2001) Companies like UPS, FedEx, DHL and a large number of other multinational and smaller organisations are beginning to, or indeed already have taken the concept of Corporate Social Responsibility (CSR) very seriously. The logistics and transportation sector plays a positive role in the economic development of societies, spreading opportunity and acting as a backbone for global development and communication, as well as contributing to communities. However, this sector also faces some strong emerging challenges to its perceived social responsibilities. The core business of this industry's direct relation with major sustainability issues such as environmental impact, traffic congestion, energy waste, safety and security, and sustainable infrastructure, puts logistics firms under the careful inspection of various stakeholders. There is a group of consumers who consider CSR in their purchasing decisions (Mohr Webb Harris 2001 p 45). 0ver the past few years, socially responsible consumers have been studied in relation to boycott behaviour (e.g. Klein 2003 p10 ) and cause related marketing (e.g. Polonsky 2001 p8) and it has been found that "negative CSR associations can have a detrimental effect on overall product evaluations, whereas positive CSR associations can enhance product evaluations" (Brown and Dacin 1997, p. 80). Recent surveys in Europe, the U.S. and Australia also suggest consumers do consider CSR policies in their purchasing decisions. The majority of surveyed consumers say they would pay more for goods and services marketed by socially responsible companies. (MORI 2001; Lloyd 2003 p58). Furthermore, as Kotler (1972) predicted, socially responsible consumer behaviour is growing . UPS UPS is one of the most active corporations in logistics sector on CSR issues. They are the biggest of 8 logistic companies in the world with a full triple bottom line report which is aligned with GRI; both sustainability and CSR are mentioned in their annual report for the last 3 years. The UPS website states that sustainability is in the heart of their business strategy. All CSR programs and initiatives are seen as business-as-usual in a well-managed company. Both the Chairman's statement and company mission statement explicitly states the importance of being a good corporate citizen. The Annual report includes a section called "Our Sustainability Statement". UPS has consistently ranked among the most admired companies in the country. They have reinforced the reputation of dependability and reliability by being conservative financially, being good corporate citizens and emphasizing social responsibility in the community. UPS is a tough competitive company but they understand the responsibility of a market leader. UPS policy promotes initiatives with the United Way, developing sustainability, increasing diversity, and limiting

China - Literature Development, Confucianism and Revolutions Essay

China - Literature Development, Confucianism and Revolutions - Essay Example Additionally, the essay discusses the philosophy of Confucius herein referred as Confucianism and how it has influenced the lives of the people of China in reality to date. Finally, the paper provides an in-depth analysis of the 1911 – 1949 revolution as the revolution with the greatest impact on China socially, economically and politically. A brief summary conclusion shall be provided that summarizes the thoughts in this essay. Redness or red as it were was a term used to refer to certain attitudes that were political and ideological. They were prescribed by the doctrine of Maoist. The expert on the other hand usually juxtaposed with the reds was used to denote special skills or knowledge in science or technology. As such tension existed between the two groups in the twentieth century in China with the two terms used in juxtaposition to one another (Schoppa, pg.112). Therefore redness had to do with the political and ideological attitudes while experts were intellectuals in this period. As such during the twentieth century, the two sides conflicted with beliefs that the two were mutually exclusive and could not be combined. Strauss, (578 -580) explains: As the two sides differed in ideologies it became difficult for them to strike a balance between the two in China. Chinese literature was indeed very crucial for nation building having a very resilient traditional cultural legacy. Thus it defined Chinese nationalism. Therefore striking a balance between reds and experts became one great challenge for this nation. The nation then took to carry out education reforms from the 1950s onwards and Chinese literature entangled with the nation building. As such the nation’s culture was defined by its literature. In the wake of a movement called the new culture, Kaozheng (reds) method came to be first provided. This was in 1917. Through this, a novel was written in vernacular focusing on canonizing the literature of Chinese.

Strategic Human Resource Management Essay Example for Free

Strategic Human Resource Management Essay To simply define Human Resource Management (HRM), it is a management function that helps managers recruit, select, train and develop members for an organization. Obviously, HRM is concerned with the people’s dimension in organizations. When we say HRM of the organization, it is concerned with all the departments of it. In the marketing department, people consult products or services that lead to the sale. In the sales department, people sell products or give services to the customers. And also in finance, people manage and forecast the flow of money in the organization. All these functions cannot be accomplished without the help of the human resources and people are the ones that can make the organization achieve its objectives. And when the strategies come together with HRM, there comes Strategic Human Resource Management (strategic HRM or SHRM). It may be regarded as an approach to the management of human resources that provides a strategic framework to support long-term business goals and outcomes. The approach is concerned with longer-term people issues and macro-concerns about structure, quality, culture, values, commitment and matching resources to future need. First, according to Strategic Marketing Management by Wilson, Gilligan and Pearson, I would like to express the different levels within the organization that strategies must be developed. They are: * Corporate strategy, which deals with the allocation of resources among the various businesses or divisions of an organization. * Business strategy, which exists at the level of the individual business or division, dealing primarily with the question of competitive position. * Functional level strategy, that is limited to the actions of specific functions within specific businesses. The above strategies are set at the different levels to achieve a major or overall aim of the organization. The strategic approach addresses issues and needs relating to changes in structure and culture, organizational effectiveness and performance — matching human resources to future requirements, the development of distinctive capabilities and intellectual capital and the management of change. There are five functional areas identified by Bratton and Gold in forming the core of human resource management activities. Staffing: Obtaining people with appropriate skills, abilities, knowledge and experience to fill jobs in the work organization. This role encompasses human resource planning, job analysis, recruitment and selection. * Rewards: The design and administration of reward systems. This role includes job evaluation, performance appraisal and benefits. * Employee development: Analyzing training requirements to ensure that employees possess the knowledge and skills to perfo rm satisfactory in their jobs or to advance in the organization. Employee maintenance: The administration and monitoring of workplace safety, health and welfare policies to retain a competent workforce and comply with statutory standards and regulations. * Employee relations: Under this heading may be a range of employee involvement/ participation schemes in union or non-union workplaces. In a union environment, it also includes negotiations between management and union representatives over decisions affecting the employment contract. With the best HRM policies and practices, HRM strategy does more than drawing boundaries; it also recognizes and addresses peoples needs. The best HRM practices contribute the four outcomes as follow: * Competence: Employees are versatile in their skills and can take on new roles and jobs as needed and are better able to respond to changes in environmental demands. * Commitment: Enhance mutual trust and better communication between employees and managers. * Congruence: All stakeholders share a common purpose and collaborate in solving problems brought about by changes in environmental demands. * Cost effectiveness: HRM policies are cost-effective in terms of wages, benefits, turnover, absenteeism, strikes, and similar factors. Here is the example of â€Å"Starbucks† which is one of the best known and fastest growing companies in the world that invest a lot in human resources. Starbucks believed that the companys success and rapid growth could be attributed largely to its committed and motivated workforce. Consequently, the companys human resource policies reflected its commitment to its employees. Starbucks cared about its employees and was one of the few companies in the retail sector to provide generous benefits to both full time workers as well as part timers. This ensured that employees remained motivated, and Starbucks had a relatively low employee turnover. However, in the early 2000s, the company faced the challenge of finding and retaining the right number and kind of employees to man its future growth. Despite the fact that employees, especially those on the frontline, are critical to the success of retail businesses, most companies do not have a strong relationship with their employees, and consequently suffer from a high rate of employee turnover (In the early 2000s, employee turnover in the retail industry was around 200 percent). In this scenario, Starbucks stood out for its employee-friendly policies and supportive work culture. The company was especially noted for the extension of its benefits program to part-time workers something that not many other companies offered. They are offered health and dental coverage, vision care, life and disability insurance, paid time off, a retirement savings plan, stock options and a discounted stock purchase plan, adoption assistance, domestic partner benefits, emergency financial aid and a free pound of coffee every week. As a result, Starbucks employees were among the most productive in the industry and the company had a relatively low employee turnover. The above example proves that HRM is the crucial source of competitive advantage to be a successful organization in the business environment. Thus, as I have discussed so far, you may have some ideas about Human Resource Management and notice how much it is important for an organization. Reference 1. Aswathappa, K. Human Resource and Personnel Management (Fourth Edition ed. ), (pg. 5) 2. http://en. wikipedia. org/wiki/Starbucks. (2013, January 17 Thursday). Retrieved from en. wikipedia. org. 3. http://www. hrtutorials. com/cs-model-evaluating-human-resources/. (2013, January 17 Thursday). Retrieved from www. hrtutorials. com. 4. http://www. icmrindia. org/casestudies/catalogue/Human%20Resource%20and%20Organization%20Behavior/HROB068. htm. (2013, January 15 Tuesday). Retrieved from www. icmrindia. org. 5. http://www. mainstreet. com/article/career/employment/4-employers-great-part-time-benefits. (2013, January 17 Thursday). Retrieved from www. mainstreet. com. 6. Manual, ABE Study, Strategic Human Resource Management, (pg. 4,5)

Reaction time of visual response

Reaction time of visual response Data Collection and Processing In this experiment, the reaction time of visual and tactile response has been investigated by measuring how both hands reacted when eyes were open and then when eyes were closed. For a better comparison of the two, the averages have been compared as well. The rulers centimetres have been turned into time counted in seconds using the formula; Observations The tactile responses where faster to visual stimuli presented As time passed, the reflexes where becoming reasonably slower, however, at some point, it was easy to expect when the other student would let go of the ruler due to the many trials. Using the measurements obtained from the above tables, graphs have been organised so as to better comprehend the outcomes of this experiment. Observations; In general, the right hand seems to have a faster response to tactile stimulation than visual one. Some values seem to not comply with the rest of them, probably due to the existence of other factors affecting the outcome of the experiment. Observations; In general, the left hand seems to have a faster response to visual stimulation than tactile one. Some values seem to not comply again with the rest of them, probably due to the existence of other factors affecting the outcome of the experiment. Overall, the tactile responses seem to be faster than the visual ones, dependent nevertheless from factors such as left-handedness and/or right-handedness. Observations; The left hand had a faster response to the visual stimuli compared to the right hand Observations; The right hand had a faster response to tactile stimuli than the left hand. Bearing the previous observations into consideration, a relation could be made between different parts of processing the stimuli (spinal cord and brain) and the reactions of each of the hands and hence the brains functioning. From the graphs, it becomes evident that tactile responses are faster than the visual ones. Furthermore, from the averages, we can conclude that the two hands much varied in their performance of the visual and tactile responses. It has also been observed that some of the values do not comply with the general tendency of the other results, thus indicating the existence of other, uncontrolled, factors affecting the results. Conclusion and Evaluation As our literary sources command, the main function of our nervous system is the coordination of rapid responses to stimuli, including reflexes. A stimulus is a change in the environment which is detected by receptors. Once perceived by the organism, a certain response is elicited and a change in the organism occurs. In this experiment, we investigated the speed of a humans response to tactile and visual stimuli. The findings of this experiment agree to the fact that our tactile responses (performed with closed eyes) are considerably faster from our visual responses (performed with the eyes open). This happens because the signal transmitted from the sensory neurons of our eyes is directly processed by our brain, whereas the signal received from our skin, as the feeling of touch, is processed at the spinal cord and are involved with the local segmental reflexes. As the results of this experiment agree to the general knowledge given from various other literary sources, it can be characterized as reliable. Despite the many efforts to control for the confounding variables which might affect the very outcome of the experiment, some values have been observed to not comply with the general rule, generated by the rest of them. A number of factors could be responsible for this. In order to make the measurements of height, a ruler has been used, causing the possibility of error to rise. The possible error that might have been involved is that of a 0.05cm At times, the ruler was not caught at all by the participant and the trial was repeated until a positive number was achieved. It could be argued though that these times are important as well since the inability to react fast could be thought of as a visual or tactile response. External factors might have affected the results of this experiment. Even though it was conducted in a laboratory, noise or distraction could have occurred due to the other classmates. Ways to improve the methodology of the experiment A control of the external confounding variables, such as noise, could help the experiment acquire more focused results. A more precise ruler could have been used A second verification of the data would be beneficial to the better support of the results found. It would also be good if more participants were used as well. The participants to this study should not be aware of the theoretical points in biology, which would affect their performance due to biases. Future work Suggested future work, related to this study and its theoretical points, could involve the study of how fast a message is transported through the nervous system or how can this speed be affected by variables such as attention and stress or other neurological conditions. Moreover, individuals could be assessed with visual and tactile stimuli so as to test the different responses between the reaction time of their left and right hands, correlating the results to whether they are left-handed, ambidextrous or right-handed.