Muet reflection paper free essay sample

Each one of us belongs to many cultural groups that distinguish us as people. These groups influence our likes, dislikes, tastes, values, morals, and help to shape who we are as people. Cultural groups are not defined by geographical boundaries, we carry our culture with us where we go and can meet others in the same cultural groups as us a thousand miles away from home. Culture is all around us, it is not just in places that are exotic. When observing Rachel Wilkinson, It became evident that the cultural groups she Is a part of make her who she Is as a person. Being American, a Marylanders. And a college student are Just a few of the cultural groups Rachel belongs to. One way in which her cultural groups affect her tastes is through music. Earaches age group, religious affiliation, family, school, and hobbies are all cultural groups that have influenced her taste in musical styles. We will write a custom essay sample on Muet reflection paper or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Earaches family is a very important aspect of her life that she cherishes deeply. She grew up in a family of six and has tons of aunts, uncles, and cousins. All throughout her childhood, she went to a daycare that my grandmother owned. The daycare was located In the basement of ere grandparents house and her mother and three aunts worked at the daycare. Rachel was with her family every single day. Country artists are constantly singing about their own family and how much their family means to them. Whether they are talking about how successful their grandparents marriage is or making jokes about their siblings, somehow the songs always seem to relate almost perfectly with Earaches own experiences and memories.The close familial bond country artists are constantly singing about never falls to bring her own personal memories to mind and make her realize Just how special my family Is to me. Earaches mother tends to Like to listen to funk as her main genre of music. This music grew on Rachel because it reminds her of times with her mother when they have bonded while listening to the music, such as on a long car ride. Because the individual songs Earaches mother listen to in this genre rarely vary, Rachel has memorized the lyrics and the songs have become an Identifying marker of her familys cultural group.Rachel believes her mother listens to this music because It reminds her of her younger years and the songs are fun to sing and listen to. When Rachel and her mother are listening to funk USIA, they are not just sitting together and listening; they are talking, laughing, cooking, eating, or Just hanging out together. Therefore this musical genre is important to Rachel and makes her feel close to her mothers cultural group. Rachel belongs to the cultural group of soccer players. She has played soccer her entire life and her Interest and love for soccer has helped shape the person she Is today and how she sees the world.Rachel and her teammates had a warm up plastic that they would listen to before every game in high school. The plastic was a bunch of rock songs that pumped the players up for the game. Before high school, Rachel never listened to rock music. However, being a part of this particular cultural group influenced Earaches music taste and made her more open-minded to rock music. Rachel now enjoys listening to rock because It brings back memories from playing the University of Maryland thus making her part of its cultural group.She absolutely loves going to parties and socializing with friends. When she goes out, dancing is her favorite activity. Loud, upbeat music is perfect when it comes to dancing. Pop music is loud with a lot of bass, melodic sounds, and catchy phrases. At many of the social events Rachel attends, pop music is played thus exposing her to this genre of music. Rachel loves pop music because it gives her a sense of excitement for the night ahead and it is very easy to dance along to.Everything the artist sings about in their songs relate entirely to the activities Rachel will be engaging in that night which is also why it is so appealing. Although pop is a big part of Earaches life, after Rachel graduates she most likely wont listen to this type of music as often. From Kindergarten through High School, Rachel has gone to a private school. She was born and raised a Catholic which caused religion to be essential in her life. Whenever times get tough, Rachel prays to God and seeks for His help and advice. Growing up, Rachel went to church every Sunday with her family.Because of this, she has a particular liking for Christmas music, especially songs that she knows and has been listening to for years. Christmas music reminds her of family traditions, good food, and a cheerful time of year. Rachel enjoys listening to the music all year round, but she especially likes listening to it after Thanksgiving when it first comes on the radio. While Christmas music reminds her of all the material things about the season, it also helps her remember the real meaning of Christmas to those in her cultural group, the sacrifice of Jesus.Christmas music helps Rachel remember the meaning of the season in a way that is fun and entertaining, but also exemplifies the values of her Catholic cultural group. As a 20 year old, it is obvious that Rachel grew up in the sasss. She enjoys listening to asss music because it brings back memories of when she was very young and carefree. She belongs to the cultural group of kids who grew p in the asss, and therefore is influenced by her music experiences as a young child today. She can interact with other people in this cultural group who often like music from the asss as well.Listening to this music with other people from the same cultural group is often during social interactions, like parties, because it is nostalgic and everybody knows the words to these songs, which makes them bond as a group. Rachel comes from an Italian family that has a great appreciation for Italian food, music, and culture. Although Rachel is not fully Italian and has never visited Italy, her ornamented who is fully Italian has given Rachel a lot of knowledge and insight about the Italian culture. Family dinners of pasta, spaghetti, tortellini, and other various Italian dishes occur quite often, especially over the holidays. At these family dinners, Italian music is played because of Earaches grandmothers love for this type of music. Earaches grandmother has a beautiful voice and always sings along to every song. Because of this, Rachel has developed a love for Italian music over the years. Although Rachel cannot understand the lyrics, she still likes to listen to the songs. Listening to Italian music brings to mind all the wonderful memories she has had with her family over the years.Also, it reminds Rachel of her Italian heritage and brings great pride to Rachel knowing this type of music is the music her ancestors listened to. This past winter, Rachel Joined Alpha Phi, which is a sorority at the University of her time in this sorority has caused Rachel to develop some new values and interests. Each girl in Alpha Phi is so different and unique and has much to offer. When Rachel goes to her weekly meetings at the sorority house, the girls always play chon music. They do this as a way to get rid all the school stress each girl has and have a fun dance party.When the techno music comes on, all the girls get up and dance and laugh with each other. Although Rachel does not listen to techno music when she is alone or in any setting other than her sorority house, since Joining Alpha Phi Rachel has been exposed to this type of music and it is now a part of her life. The town Rachel is originally from is a small community in Maryland in which many people live on farms or out in the country. Because of growing up in this community, Rachel likes country music. She identifies with the lyrics, as they are relevant and meaningful to her life in a rural town.She likes that country music tells a story about topics that she can identify with, rather than a genre like rap music whose lyrics she does not identify with as much. In this community cultural group, country music is played at town events and parades, and it is common to hear the music in stores or homes around town. Country music identifies with the values of a small town; there is emphasis on family values, social issues, and various other aspects of country life. Being that Earaches town is made up of very conservative minded people, country music appeals to her cultural values.She enjoys listening to country music as a result of being a part of this cultural group and being influenced by the culture around her. When Rachel was younger, she used to take dance classes and was in a ballet and tap dancing group. She had classes a couple times a week and had dance recitals at the end of the year. When Rachel first Joined, she loved it. She made a lot of great friends and it was really fun for her to learn how to tap dance and do ballet. Getting on stage at the end of the year was Earaches favorite because all eyes were on her and she was doing what she loved.However, one year Rachel was stuck with a really mean dance teacher. The teacher was nasty towards her students, including Rachel. Because of this teacher, Rachel began hating going to dance class. This teacher ruined her dance experiences and also her taste in classical music. This teacher scarred her memories and Rachel has developed a distaste for classical music because it reminds her of her bad experiences as a ballet dancer. Although Earaches isle for classical music has diminished over the years, it is definitely not her favorite genre today.The classical music played in ballet exemplifies the cultural groups desire for order, grace, and precision. These values are not pertinent to Rachel, and therefore classical music does not appeal to her. The cultural groups we belong to influence our tastes in many ways. For Rachel, the cultural groups she belongs to have made a considerable impact on the types of music she likes to listen to, who she likes to listen to music with, and the context in which she likes to listen to particular genres of music.

5 Essential Tips for Aspiring Graphic Designers

5 Essential Tips for Aspiring Graphic Designers For creative types who enjoy making visual art, a career in graphic design makes sense. It offers the opportunity to combine work with play and turn a talent into a career- a very lucrative career if youre a standout in the industry.Graphic design can be a tough field to break into. The industry is flooded with graphic designers looking to make names for themselves and get a foot in the door. Standing out takes more than talent; it takes diligence, patience and an understanding of what graphic design is all about.Not only do designers use visual artistry to convey a message that inspires an idea or action, they do it in accordance with a clients specific goals. It takes time and effort to build expertise in a field that combines art theory, typography, programming, marketing and communications. And while theres no set path to success in graphic design, there are steps you can take to increase your chances of getting work and getting known. First, you should understand theres a lot yo u dont know about graphic design.1. Do the courseworkAccomplished designer Timothy Samara described the process of graphic design as seeing (and understanding) how the qualities of visual material- shapes, images, color theory, typography, and layout- work, and work together†¦ and then being able to decide which qualities of each are relevant and engaging and useful for visualizing a particular idea or solving a certain problem.Graphic design combines a vast range of skill sets into one role. Successful graphic designers are masters of not only color, shape and typography but also a wide and ever-evolving range of software, programming languages like HTML and CSS, branding, marketing and client communication. Knowledge of animation, 3D and VR (virtual reality) concepts is becoming more common. Graphic designers who have at least a basic understanding of UI/UX (user-interface/user-experience) design principles are even more in demand.It can be difficult to assemble that body of knowledge and skill on your own, so while structured learning isnt strictly necessary to succeed in the industry, it helps a lot.A formal design education could mean a comprehensive design program, typically a Bachelor of Fine Arts degree, or individual, well-chosen courses. Design programs cover topics like basic theory and fundamentals, digital-illustration technologies, programming languages, multimedia integration, multi-platform design techniques, branding, self-marketing and portfolio development, providing a well-rounded basis for a career in digital design. It may also offer opportunities for networking and real-world experience, invaluable assets for an aspiring designer (more on that later).Check out Animation Career Reviews list of the top 50 U.S. design programs in 2018 to get a feel for whats out there. But remember, guided coursework can form the basis of a career in graphic design. What it cant do is replace real-world experience.2. Social media: Know whats out thereS uccessful graphic designers know what other graphic designers are creating. In the hierarchy of jobs requiring an of-the-minute mindset, graphic design is up there. Its a fast-paced industry that reflects and sets visual trends, and if you dont know whats getting attention right now, youre losing ground.Social media is a critical tool in the design field, and no less so if youre just starting out. Keeping up with todays noteworthy designs and designers can keep you versed on the latest trends, successes and failures in the industry. It can up your own game, too, suggesting tweaks or entirely new avenues of experimentation in your designs.Do a hashtag search or find one designer and see who[sic] theyre following, suggests digital-marketing expert Sawaram Suthar on Canva. [Y]oure sure to discover works and artist[s] that can inspire you.There are countless ways to keep track of the latest work in graphic design. Various experts mention Instagram, YouTube, Facebook, Pinterest, design b logs and portfolio sites as worth exploring. Lots of design sites have recommendations to get you started: Try Creative Bloqs 32 graphic designers to follow on Instagram, Creative Markets 10 Brilliant Graphic and Web Design Pinterest Boards, the Art Institutes 5 Famous Graphics Designers to Follow, Shillingtons 50 Best Design Blogs You Have to Read in 2018 and Adobes 20 Creatives to Watch in 2018.3. Join the communityFollowing great designers is just the beginning, though. If you really want to make it in the field, engage with them.[I]f youre looking to leverage your design skills, writes Suthar, you need to put yourself out there.Like most creative fields, graphic design thrives on the constant exchange of ideas, opinions and critiques. Networking is a key aspect of launching (and maintaining) a successful design career: Its a highly competitive industry, and when youre low on experience, getting your name out there and building a reputation can help open doors. Designer communiti es offer a way for you to interact with other designers, experienced and novice alike. They provide a forum for you to share your work and get feedback from other designers in the field. Your skills will undoubtedly benefit from posting your work- and commenting on the work of others- on portfolio sites like Dribbble and Behance.Also, check out forums like Graphic Design Forum and Reddit Graphic Design. Follow some threads, join the discussion and ask questions. A lot of experienced designers will be happy to provide guidance and offer new avenues of experimentation that can help you solve a problem or develop your personal style.4. Dont be afraid to failGenerally speaking, get as much feedback on your work as you can. By all accounts, its essential to your development as a designer. Negative feedback can be the most valuable, according to Paula Scher, whose work includes the Citibank umbrella logo (which she reportedly designed on a napkin in five minutes) and the 2012 Windows 8 lo go redesign.You have to fail in order to make the next discovery, she told Psychology in 2009. Its through mistakes that you actually can grow. You have to get bad before you can get good.One of the best things you can do as a new graphic designer is consistently share your work in places where youll receive honest feedback. In addition to Behance and Dribbble, Digital Arts Online recommends Adobe Portfolio, Wix, Fabrik and FolioLink as some of the top places to share design work. (Check out the complete list.)In lieu of a large portfolio, build a body of work on social media. Nothing compares to real-world experience, but it can reflect your skill level, range, commitment and following.5. Get real-world experienceStill, definitely be building that portfolio.Its not easy when youre just starting out. In graphic design as in most fields, without experience, its hard to land job, which makes it hard to build the experience you need to land jobs. But experience is everything. It shows what you can do in a real-world design setting, for clients.Internships are great experience-builders. Interns learn on the job, working with professional designers on client-driven projects. (Plus, the firm might hire you if they like your work.) But there are a lot more graphic designers than there are internships, so competition can be fierce. Design programs can be helpful here, as they often offer assistance securing an internship with a design firm during the course of study. You dont need to be in a program to apply, though. You can usually find ads for internships on job-search sites and the sites of the ad agencies and design studios offering them.There are other ways to gain experience, you just have to get creative. Maybe a relatives business website could use a redesign. Suthar suggests offering to design a friends wedding invitation or selling designs on Etsy. Creative Bloq offers an extensive list of online design marketplaces.Also, try volunteering your design skills. Organizations like schools, religious organizations and charities may be open to a new online look. A lot of nonprofits post ads requesting free graphic-design services on both volunteer- and job-search sites.According to Designrfix, you could even show spec work in your portfolio: Find a local company that could use a new logo or website, design it and present it to the owners or marketing team. Whether or not they like it, the experience with the organization will earn you credible work and enhance your portfolio.In conclusion, find clients. As many as you can.Graphic designer, blogger and podcaster Lauren Hooker put it this way: [T]heres no greater teacher than first-hand experience. You can study design, you can plan for the future, and you can seek wisdom from other experienced designers, but you cant gain an accurate picture of what this industry truly looks like until you jump in head-first.

Make Your Own Homemade Hand Sanitizer

Make Your Own Homemade Hand Sanitizer Some commercial hand sanitizer contains ingredients as scary as the germs they protect you from, so why not make your own hand sanitizer from ingredients you select? This is an excellent project for kids as well as adults since the project can be expanded to include a discussion about hygiene and disinfection. Youll save money, protect yourself from germs, and can customize the scent of the hand sanitizer so it doesnt smell medicinal. Homemade Hand Sanitizer Ingredients 2/3 cup 99% rubbing alcohol (isopropyl alcohol) or ethanol1/3 cup aloe vera gel8-10 drops essential oil, optional (such as lavender, vanilla, peppermint, grapefruit)bowl and spoonfunnelrecycled liquid soap or hand sanitizer bottle Make Hand Sanitizer Nothing could be easier! Simply mix the ingredients together and then use the funnel to pour them into the bottle. Screw the pump back onto the bottle and youre ready to go. How It Works The active ingredient in this hand sanitizer recipe is the alcohol, which needs to comprise at least 60% of the product in order to be an effective disinfectant. Essential Oils in Hand Sanitizer In addition to adding fragrance to your hand sanitizer, the essential oil you choose may also help protect you against germs. For example, thyme and clove oil have antimicrobial properties. If you are using antimicrobial oils, only use a drop or two, since these oils tend to be very powerful and might irritate your skin. Other oils, such as lavender or chamomile, may help soothe your skin.

Legal Aspects of Mergers and Acquisitions in Business Research Paper

Legal Aspects of Mergers and Acquisitions in Business - Research Paper Example If ABC wants to acquire Smith Bicycle Company, a private seller, it is vital to consider the two ways of acquiring the company. The first way of acquiring the business is by buying shares in the company that owns the business (Gole & Morris, 115). The second way of acquiring the company is through purchasing the assets of the company, which comprises the business. It is imperative to state that in this situation, the company is the seller, and it will thereby sell some or the entire assets to the buyer. It is worth denoting that share sales structure the majority of the acquisitions. A variety of factors may affect the structure used. Occasionally, it is vital to restructure the business or company before its sale in order to allow for proper acquisition. In the case of Smith Company, it is imperative to state that tax implications tremendously determine the structure of a transaction for both the buyer and sellers. Their interests may conflict particularly when achieving the vast be neficial tax outcome. Moreover, where sellers are individuals, there is a likelihood that the sellers will favor a share sale in order to circumvent a latent double tax charge (Gole & Morris, 116). This tax charge comprises of an initial tax charge on the company during the sale of assets to the buyer, and an additional tax charge on the shareholders of the company, when they pull out the sale profits from the company. Since tax immensely proves as a critical determining factor towards the structure of a deal, it is vital for the buyer and seller to obtain specialist tax advice. Based on the share sale, the buyer acquires the company together with all its â€Å"assets, liabilities, and obligations† (Gole & Morris, 118). This offers the sellers a suitable break, as, after the sale of the company, they will cease to have direct conscientiousness for the company. The buyer will thus owe any prevailing liability under the terms of warranties and indemnities agreed upon in the sal e and purchase agreement. Based on business sale, there is only an acquisition of assets and liabilities purchased by the buyer, implying that everything else remains with the company (Gole & Morris, 118). If the buyer suspects of unknown liabilities within the company or troubled by any business aspect, the buyer prefers to structure the deal as a business sale. It is worth denoting that there exist more realistic and marketable issues to assert on a business sale other than on share sale. Based on the share sale, there is an only a transfer of ownership of the company shares. It is imperative to state that while there is a change on the shareholders of the company, the assets that are inclusive of business contracts and licenses remain with the company. From the outside, there is minimal change as customers and suppliers will continue dealing with the company. However, certain contracts such as financing contracts in conjunction with other long-term agreements at times require the consent of the other party after planning of change of company’s ownership (Gole & Morris, 120). It is critical to identify such contracts earlier in the acquisition process.

Discrimination Law In Employment Essay Example | Topics and Well Written Essays - 1000 words

Discrimination Law In Employment - Essay Example Having had a trans-gender operation will not alter her efficacy as a worker in any significant way. Hence, Alluria’s is a clear cut case of injustice and if she makes a lawsuit she will win. The Disability Discrimination Act of 1995 describes a disabled person as someone who has a â€Å"physical or mental impairment, which is long-term or substantial and makes them unable to carry out normal day to day activities and has more than a minor or trivial effect and lasts or is likely to last at least 12 months.† Karen’s disability has been congenital (hence long-term), substantial and certainly not trivial. It is difficult to see how Karen can be effective in a boutique with such a major disability. However, she had a right to apply for the job. She also did the right thing by disclosing her disability during the interview. It is due to the sloppiness of the interviewer that she got hired in the first place. If this is the real issue then Sonia should inform her so and follow proper Employee Dismissal Procedure, with its due notice period, full and final financial settlement, etc. But Sonia had not pursued this line of action and instead is nagging Karen t o â€Å"stop biting her nails†, which is irrelevant to the issue. Karen is also being victimized by Sonia for taking her previous employer to the Employment Tribunal. Karen had every right to take her previous employer to task. Discrimination by way of victimization is said to occur when an employer treats the employee less favourably due to their actions they have taken under or in connection with the DDA Regulations. In sum, Karen has two grounds for discontent – Disability Discrimination and Victimization – if she decides to take legal action. But Karen has to ensure that the total number of personnel in the boutique is more that 20, as the DDA is applicable only to employers with 20 or more employees. Also, she has to confirm that her particular

Professional Educator Professionalism Essay Example for Free

Professional Educator Professionalism Essay Professional development is an important aspect of an educator’s life. Without continuous development, there will be no true development. To enhance professionalism, I will look for trainings and seminars enhancing my skills and participate in these activities. I can benefit from such seminars and trainings in two ways. One is by learning more about educator professionalism. Secondly, I can network with other people and learn from their experiences as educators. Another action item that I can include would be to consult books, websites and blogs on educator professionalism. By reading the experiences of other educators, I can also take a look at my own experiences and apply the lessons I learn. A realistic time line for monitoring my progress is one year. During this time, I will keep a personal journal detailing the lessons I learned and the progress I am making in connection with developing professionalism. Through this, I can have an empirical tool for assessing my professional growth. This journal can in fact be online through a blog. This way, I can effectively use technology in enhancing my productivity, efficiency, and effectiveness in being an educator. Reflection and Professional Improvement As part of the journaling and blogging process, I can use reflection. I can look at my daily, weekly and monthly experiences and reflect on my progress. Reflection is a very powerful tool because it allows me to look back and take a look at my own professional practice, my own beliefs, my experiences and think about how these things affect my thinking, my belief system and the way that I do my work. With the aid of my journal, I can write down my thoughts. This way, I can benefit more greatly from my reflections and make necessary adjustments if needed. Reflections, after all, are worth nothing if I do not make the necessary actions to make improvements. With reflection, I can also be satisfied with the result of my efforts. I can be further encouraged with the results of my efforts. The Importance of a Professional Growth Plan An old adage says that those â€Å"who fail to plan are planning to fail. † Planning for professional growth is very important because it allows people to define their vision. Once they know their vision, they can put their heart and their efforts to it. It is similar to having a clear direction in mind. From such a direction, the map can be derived and will help a person navigate through the difficult road of professional growth. A professional growth plan also prescribes the course of action that a person has to take to make the most of his profession. It enables a person to set goals and the corresponding action he has to do to achieve such goals. It also breaks down the vision into achievable goals and prevents him from being overwhelmed and being overtaken by fear or hesitation. At first glance, a vision may seem impossible to achieve. But with goals and objectives, a professional can take one step at a time towards the eventual destination. On the contrary, without a professional growth plan, a person may simply do one thing after another and will end up just doing what he has done in the past over and over again. Over time, he becomes stagnant and eventually his skills will deteriorate. To avoid this scenario from happening, a professional growth plan is very much needed.

Meeting Mila :: Children Personal Narrative Friendship Essays

Meeting Mila Children used to annoy me. They cried. They pooped. They cried some more. They yelled obvious questions at the movies, screamed constantly in the grocery store, and seemed to have an affinity for yelling out facts that the general public did not need to know (such as when in a department store, Bobby informs the sales clerk, "MOMMY SAYS MY BROTHER BILLY WAS AN ACCIDENT!") Furthermore, I had no idea how to deal with children. I was the youngest sibling in my family, and unlike most girls my age, I had never been a babysitter. All of that would change, however, when I met Mila. She would show me just how intelligent, honest, and wonderful children can be. It was around Valentine's Day when I met a strange and interesting young man named Jack. He was a writer, chain smoker, and lover of all cartoons -- especially those involving giant fighting robots. I was going to Topeka West High School, he was a freshman at Washburn University and despite our age difference, we clicked. He told me when we first met that he had a little girl, that her name was Mila, and that she was two years old. I like to think that the fact he had a child didn't freak me out, but it did. As a sixteen year old, I was too young to have to deal with a kid. Also, I was convinced that I didn't have the time or patience to spend time with both Jack and his daughter. Mila had a squinty-eyed smile that could lighten up my foulest mood. Her eyes were like a prized Husky's, a beautiful, piercing ice blue--just like her father's. Her hair was so blond, it was white. It amazed me (and still does) that so much beauty could be bundled into such a small package. I noticed right away that she also had his ears--they stuck out from the sides of her head just like his, but hers were more feminine, with earrings adorning her tiny lobes. At first, she was shy around me. (Of course, back then, she hadn't mastered opening doors yet, and oh, how that's changed!) But over the weekends she spent at Jack's house, I became "Her Sara." She started becoming more comfortable around me when I began driving Jack to Lawrence to pick her up and then driving back with her in tow.

Polaroid Corporations Essay

In late March 1996, Ralph Norwood was faced with the task of restructuring Polaroid’s capital structure. In the past, Polaroid had a monopoly in the instant-photography segment. However, with upcoming threats in the emerging digital photography industry and Polaroid experiencing recent losses in their market share due to Kodak’s competition, Gary T. DiCamillo, recently appointed CEO of Polaroid, headed a restructuring plan to stimulate the firm’s performance. The firm’s new plan has goals such as to aggressively exploit the existing Polaroid brand, introduce product extensions, and enter new emerging markets such as Russia in order to secure Polaroid’s future. In addition to the plan, DiCamillo has included certain core objectives that Norwood would need to consider in his recommendation. These values include goals of value creation, financing flexibility, and staying with the â€Å"investment-grade† rating for bonds. His plan would have to afford Polaroid low costs and continued access to capital under alternative debt policies. Norwood would need to access the right optimal strategy with these restrictions; that is to say that even if the most optimal capital structure was to force Polaroid’s bond rating under BBB-rated, Norwood would need to settle for some middle ground. Financing Requirements: Polaroid faces several business risks in March of 1996 that will affect its financial policy. The company must consider foreign risk exposure, demand variability, and the ability to develop new products in time and compete in a developing, innovative market. Polaroid is still essentially a one-product line company, deriving 90% of its revenues from photographic products. Polaroid must also consider the threat that digital imaging technologies pose towards the company’s future. With the start up development of these new technologies, it is clear that Polaroid will not have a monopoly in these markets. In addition, Polaroid experiences business risk with their increasing revenues coming from developing countries. Approximately 9% of Polaroid’s sales in 1995 came from Russia. Exhibit 2 (Information on International Revenues) shows the percent of total international sales is on the rise, while U. S sales are on the decline. Even though, Polaroid does have international lines of credit and probably other strategies to reduce currency risk, their business in these developing international markets does pose increasing market risk. The business risk from competitors and international markets does signify that Polaroid will need additional funding to keep up. The company must maintain a strong and flexible balance sheet to accommodate for future financing needs. Another area of concern is Polaroid’s earnings coverage ratios. While Polaroid has a relatively low debt ratios that are comfortably in the AA-BBB range, the company is struggling to maintain safe earnings coverage multiples on its interest payments. The issue is magnified in the future as market equity grows thus increasing WACC. Without better earnings, Polaroid will not be able make interest payments on the additional debt required to balance the company’s optimal capital structure. The use of debt and the resulting additional financial risk is a decision that Norwood must ultimately make. Norwood is also concerned with developing a long term financial strategy for Polaroid that will enable the company to grow according to DiCamillo’s plan. Virtually all of Polaroid’s debt is maturing within the next six years. The major components are listed below. – $150 million in notes at 7. 25%. which mature on January 15, 1997 – $200 million in notes at 8%, which mature on March 15, 1997. Employee Stock Option Plan Loan with scheduled semiannual principal payments through 1997. Interest rate has varied over time, but is very low due to tax benefits to ESOP lenders. – $140 million in convertible subordinated debentures at 8%, which mature in 2001. They are convertible to common stock at $32. 50 per share. They are not redeemable until September 30, 1998 unless the stock price exceeds $48. 75 for 20 of 30 consecutive trading days. Norwood wants to restructure Polaroid’s debt and equity to maximize the company’s future potential. During this restructuring, Norwood wants to keep the cost of capital low, create value, and preserve Polaroid’s investment grade in order to allow for future borrowing at investment grade status. Polaroid’s Current Position The current capital structure is not appropriate for Polaroid, and it will inhibit the company’s ability to meet future financial demands. After analyzing Polaroid’s current debt maturity structure, the group concluded an eventual downgrade of the company’s BBB bond rating by the end of 1996 according to the coverage ratios. The cost of debt drastically increases when a company enters the non-investment-grade status, while the switch amongst investment-grade ratings is relatively marginal. Exhibit 1 shows the maximum amount of debt Polaroid could have for each credit rating. Polaroid’s current investment-grade rating must be maintained to keep costs low and protect the Polaroid brand name. To maintain this rating, Polaroid needs to stop repurchasing stock and have an issuance of equity in 1996 to avoid a downgrade to junk status. Polaroid needs to make these changes to its capital structure to have flexibility and preserve its bond rating. Any persisting needs can be funded through debt financing. Our Recommendation We recommend issuing $200 million in equity initially to pay off the $150M and $37. 7M debts. This will not only allow the firm access to much needed capital, but will also decrease the leverage ratio and minimize financing risk. Also, the ESOP program will be temporarily suspended to reduce leverage. Currently, Polaroid’s D/E is far too high at . 4. This additional equity brings it to a more manageable . 22. By analyzing the coverage ratios, we predicted that if equity was not issued by 1996, the company would lose its BBB rating. Our recommendation first and foremost considers the preservation of Polaroid’s BBB status. The advantage to a new equity issuance is that it will provide needed capital without damaging the company’s financial statements. This will provide flexibili ty for further borrowing in the future and make it easier for Polaroid to maintain its debt rating. Furthermore, when capital is needed in 1998, we will issue $425M in 5-year bonds. This gives Polaroid the lowest WACC and maximum leverage while maintaining BBB status. At this point the ESOP program will resume with the company re-levering. With a somewhat flat yield curve, longer term bonds are not significantly cheaper to outweigh the flexibility that 5-year bonds offer. If earnings improve in 5 years, a capital structure with more leverage may be preferable. Having 5-year bonds gives Polaroid this flexibility. Exhibits 2 and 3 show that a capital structure with a D/E between . 22 and . 26 is optimal. Given the consistent growth in market equity capital, additional borrowing and possible share repurchases will be necessary in the future to stay in this range. This strategy would open the door for Polaroid to find the optimal capital structure while still adhering to the values of the new CEO. The objective would be to choose the option with the lowest weighted average cost of capital, thus creating the most value, maintaining a minimum of a BBB rating, and also allowing flexibility.

Behavioral Finance

Behavioral finance is a study which involves the influence of psychology on the attitudes and behavior of investors and its subsequent effects on the markets. Behavioral Studies is still in its development stages, but it is instrumental in determining/ explaining as to why or how markets might be inefficient. The difference between traditional finance and behavioral finance is that traditional finance is based on the following concepts: – Investors have rational behavior – Capital Asset Pricing Model (CAPM) – Markets are efficientBehavioral finance on the other hand says that, the psychological forces interfere with these concepts. It says that there are both internal and external behavioral obstacles towards the value creation of any company. In practical terms it brings forward the errors in judgments made by both individual investors and fund managers and the various biases to which we as humans are prone. Analyzing this will place us in a position to make dec isions which avoid errors/mistakes committed in the past . INVESTORS: Individual investors: An individual investor is a person who purchases small amounts of securities for him/herself.He is not professionally involved in investment services and whatever purchases he/she makes are on an arm’s length basis. Individual investors are highly regulated because they are thought of as amateurs with little or no knowledge. An individual investor is also known as retail investor or small investor . Professional investor: These investors are usually all those businesses which are involved in giving investment services either directly or indirectly for example, investment companies, mutual funds, investment banks, brokerage houses etc.Besides them professional investors could also be individuals which are professionally involved in giving investment services. Professional investors are also known as institutional investors. These investors are subject to fewer regulations probably becau se they are perceived as having superior knowledge to individual investors . Behavioral biases: Individual and Institutional investors are both prone to almost similar biases, because institutional investors are although organizations in their own right but in actual are lead by a handful of managers.Proponents of this study argue that humans are prone to bias in making their judgments no matter how qualified or experienced they may be. They say that humans make frequent use of heuristics, mental shortcuts/rules of thumb to simplify decisions and tasks that are complex. Availability heuristic: With availability heuristic it is believed that for humans the probability of an event occurring is dependent on how easily one can imagine that event happening. The more clear is the image the greater the probability.A related concept is Illusory correlation which describes we imagine and hence interpret evidence. Although this bias is limited for retail investors since not only their investm ents are smaller but they also don’t have various charts, patterns analyzing past year data at their disposal, as for institutional investors this bias is at a much more magnified level because many fund managers use charts and technical analysis which according to them helps in identifying various patterns and price/stock moments . Representativeness heuristic:This concept says that humans are prone making judgments that involve consideration of stereo-types instead of the underlying features. For example, while hiring the selection process takes into consideration the qualifications, relevant experience, personality etc. however this in no way can predict the future job performance of the individual. This also incorporates a related concept called Illusion of validity which puts forward that the confidence in one’s judgment is primarily based on the representation of the situation instead of the characteristics.However, retail investors are more prone to this bias as compared to institutional investors because they have the information that is available to the general public for example, commentaries from financial journalists, analysts which believe that well known companies are good stock-market investment options, but in reality these two factors are largely unrelated . Anchoring and adjustment: This is another important heuristic according to which decisions made by humans are dependent on some key value/number.There is no process or logic behind determination of this value/number it could be any random number. For example, budgeting which involves use of current figures to determine future estimates. Many fund managers use current year figures and current year industry averages to determine future estimates. This bias is a product of our inherent conservatism which leads to our under reaction to new information. Institutional investors are more prone to this bias as compared to small investors. Probably because the managers of investment c ompanies actively use these techniques to draw conclusions.Small investors would hardly be aware so these techniques however those with an accounting background could be an exception . Loss aversion: It is also a key bias. It is based on the concept that humans find it very difficult to accept loss and the state of denial is such that we infact believe that holding onto it for longer periods of time would turnaround things some way or the other. This bias has some major consequences in financial decision-making. For instance, over the years it has been seen that many companies have kept running loss-making units and destroying shareholder wealth to the level at which it was irreparable.The reasons behind the strength of this bias as scholars put it is the shame and regret and feeling the blame for the loss incurred. Individual investors are more prone to this professional investors, a study revealed that individual investors sell those stocks that start to perform well quite soon an d hang on loss-making stocks for longer periods of time hoping that things might take a u-turn. This problem as professional traders put it is named get evenitis. Hindsight bias: It is based on the concept that humans are prone to that feeling â€Å"I knew it all the while† or precisely hindsight bias.To correct this bias is also very difficult because it’s natural for us to make differing conclusions regarding what happened in the past even though those decisions would have been correct according to the data and circumstances at hand then. For example, these days since the global economy is in recession even a layman is heard that this was inevitable. Individual investors are prone to this bias out of human nature, as for institutional investors they are less prone to this because they would be having greater access to information all the time .Over-confidence bias: Humans are naturally over-confident about their abilities normally. This further leads to over optimism i. e. we normally feel that we can be successful in most of our endeavors or do the right thing in most of the situations. However in reality that is not possible. Moreover the more information or data one gathers regarding a task, the more that person feels in greater control this is called Illusion of knowledge. Practically the biggest setback that one has to deal with results unfolds is that they are quite different than what was expected.Individual investors are much less prone to this bias as compared to institutional investors which suffer a lot more, because the over-confidence of a team of managers would prove more lethal financially. For example, 3Com which acquired US Robotics in 2000 made an IPO of its division that made the famous Palm pilots. Although the share prices went as high as $165 making 3Com the fourth largest technology firm then but announcement of a forthcoming product without the infrastructure yet in place saw its share prices dramatically fall to $1. 35 in 2001.This financial blunder was a result of a combined over-optimism of the then senior management. INVESTMENT BELIEFS: Characteristics of the Individual investor’s investment beliefs would be focused on limited aspects probably because they have limited knowledge of the market and they invest smaller amounts as compared to institutional investors. They would probably invest in companies that have good market reputation and which promise a good return within a short span of time. As for institutional investors their investment beliefs would be diverse since they are professionals.It would be important for them to take measures to avoid conflicts of interest. It would also be important for them to develop a clear view of capital markets in order to invest in companies that are expected to yield good returns . CONCLUSION: Behavioral finance has therefore highlighted that financial decision-making of both individual and institutional investors. The errors/mistakes made in yes ter-years both at the individual and organizational level if taken care of in future could result in making sound long-term decisions. WORKS CITED: Blanco. A.Behavioral Finance Possibilities and Limitations of Different Approaches. Wiesbaden, 2003 Fortune. Why CEOs Fail. February 10th 2009 Retrieved from :< http://money. cnn. com/magazines/fortune/>, 1999. Goldberg. J. Behavioral Finance. John Wiley, 2001. Montier. J. Behavioral Finance: Insights into Irrational Minds and Markets. J. Wiley. 2002. Owen. A. S. Behavioral Finance and the Decision to Invest in High Tech Stocks. School of Finance and Economics, University of Technology, 2002 Pompian. M. M. Behavioral Finance and Wealth Management: How to Build Optimal Portfolios That Account for Investor Biases.John Wiley and Sons, 2006. Redhead. K. Personal Finance and Investments: A Behavioral Finance Perspective. Routledge, 2008 Shefrin. H. Behavioral Finance. Edward Elgar Pub, 2001. Shleifer . A. Inefficient Markets: An Introduction to Behavioral Finance. Oxford University Press US, 2000. Stanyer. P, Dimson. E. The Economist Guide to Investment Strategy: How to Understand Markets, Risk, Rewards and Behaviour. Bloomberg Press, 2006. Taffler. J. R. (2001). Management Focus. Thaler. H. R. (1993). Advances in Behavioral Finance. Russell Sage Foundation

Project Management A Critical Evaluation

Project Management A Critical Evaluation Introduction Available literature demonstrates that a project schedule is a fundamental constituent of any project management activity, issues of size or scope of the project notwithstanding. Indeed, as noted by Kerzner (2001), a project schedule not only directs the project stakeholders on when each activity should be done, but it reveals what has already been achieved, whether certain activities are late in terms of delivery, and the sequence in which project activities need to be completed.Advertising We will write a custom essay sample on Project Management: A Critical Evaluation specifically for you for only $16.05 $11/page Learn More It is against this background that the present paper seeks to respond to a few issues related to project scheduling, primarily the identification of activities needed to estimate resources and durations, identification and discussion of some of the milestones that may be contained in a project, and, lastly, the provision o f a summary of how human resources should be assigned to each project activity to guard against lateness or perceived schedule slips. Activities to Estimate Resources and Durations in Project Management An accurate assessment or estimation of the resources and durations needed to complete particular tasks should be an issue of imperative concern for project managers and other stakeholders in the team. Kerzner (2001) notes that while it is true that duration estimation analyzes the time that may be taken to complete either the entire project or subsections within the entire project, activity duration, on its part, is to a large extent dependent on other time and resource approximations. In this perspective, the Work Breakdown Structure (WBS) can be proposed as an activity that can assist the project team to estimate the resources and durations needed. This activity not only defines a project in the context of its deliverables, but provides a framework for breaking down the stated del iverables into consequential units of work (Kerzner, 2001). The author further notes that with this breakdown, team leaders are able to ascertain a proper work hierarchy that operationalizes resource and duration estimations. The second activity that could be proposed entails undertaking a critical path review using the Critical Path Method (CPM) with a view to estimating the overall project duration. It is of significance to note that the CPM has the capacity to calculate the total project duration while basing its estimates on individual task durations and their interrelationships. It therefore follows that the series of project tasks determining the minimum time required for the project should be included as the critical path (Kerzner, 2001).Advertising Looking for essay on project management? Let's see if we can help you! Get your first paper with 15% OFF Learn More The third activity that could be proposed involves undertaking a performance evaluation re view using an effective project management tool, such as the Performance Evaluation Review Technique (PERT). According to Schwalbe (2010), this activity employs a pictorial description of project tasks as a system of dependencies with a view to assess or investigate the most likely time and resource estimates. Forth, the project leader in conjunction with other members can initiate a Resource Breakdown Structure (RBS), which is basically â€Å"†¦a hierarchical structure that identifies the project resources by category and typeâ€Å"(Schwalbe, 2010, p. 222). The information gathered by this structure is fundamentally important in not only determining the costs of resources, but also on how to go about acquiring the resources. Lastly, a Three-Point Estimate (TPE) can be used to estimate activity durations. This activity, according to Schwalbe (2010), revolves around designing â€Å"†¦an optimistic, most likely, and pessimistic estimate [whereby] the optimistic estimate i s based on a best-case scenario, while the pessimistic estimate is based on a worst case scenario† (p. 223). Milestones for the Project Milestones are simply goals or objectives that assist project leaders to keep track of the overall progress for any project, with each milestone indicating a forward movement (Higginbotham, 2008). In essence, milestones not only assist in building continued momentum for the team members, but they show progress to members of staff as well as to other leaders. The SMART (specific; measurable; attainable; relevant; time-bound) criteria can be used to describe project milestones in the context of the outlined case study (Schwalbe, 2010). Under the ‘specific’ term, we can identify and describe the first two project milestones, which may include: A fully functional remote deposit capture must be in place within the next five months to allow a month’s time for any necessary adjustments, and The remote deposit capture must be able to fulfill the core objectives of increasing customer satisfaction and curtailing customer loss. Under the ‘measurable’ term, we can identify and describe the third and forth milestones, namely: The remote deposit capture, upon its commissioning, must be able to improve customer satisfaction levels by up to 25 percent, and The bank must be able to register an increase of about 20 percent in its customer base upon the commissioning of the new project. Moving on, under the ‘attainable’ term of the SMART criteria, we can identify and describe the fifth and sixth milestones, namely:Advertising We will write a custom essay sample on Project Management: A Critical Evaluation specifically for you for only $16.05 $11/page Learn More The staff members need to undergo training to improve their abilities and skills towards the operationalization of the new project, and The need to make heavy investments in information technology (IT) to en sure the goals of increasing customer satisfaction and avoiding the loss of current customers are met after takeoff. Under the ‘relevancy’ term, we can identify and describe the seventh and eighth milestones as follows: Conduct a baseline survey in the fourth month of project implementation to evaluate how other banks are coping with the issues of customer satisfaction, and To conduct a baseline survey to investigate the relevancy of remote deposit capture against the industry’s best practices. Lastly, under the ‘time-bound’ term of the SMART criteria, we can identify and describe the project milestones as follows: We must have the necessary IT infrastructure in place by the lapse of 90 days (three months), and We must be able to test the new IT infrastructure using selected bank customers by the lapse of 150 days (five months) to provide room for any improvement or adjustment. Assigning Personnel to Project Activities It is indeed true that an IT -related project such as the implementation of a remote deposit capture for a banking institution certainly requires personnel from a wide variety of fields, such as software developers, network administrators, java programmers, risk assessors, junior support staff, internet security personnel, subcontractors, and senior personnel such as the chief information officer (CIO), among others. The way that all these personnel are assigned their duties is critical to the success of any IT-related project (Schwalbe, 2010). According to Lock (2007), personnel should be assigned to project activities based on their availability, level of skill and training, and an open mind to learn more. The table next page demonstrates how the tasks will be delegated among the personnel involved Personnel activity M1 M2 M3 M4 M5 M6 Software developers Developing network receivable software Network administrators Networking between main office and branches Java programmers programming Risk assessors Assessing risk in depositing money online Junior support staff Support roles Security personnel Internet security subcontractors Provision of hardware CIO oversight N.B: M1-M6 = the first month through the sixth month (project period) It is indeed true that some projects may fall behind schedule owing to a multiplicity of factors, such as lack of finances, lack of materials, lack of the required personnel, and occurrence of natural catastrophes, among others (Lock, 2007). When such eventualities occur, the project manager or leader may renegotiate the scope/ schedule of the project with the project sponsor, along with other members, to evaluate if it is indeed viable to either reduce the scope activities of the original project or possibly increase the schedule duration to ensure that project scope activities are satisfactorily met (Schwalbe, 2010). Second, the project leader, in collaboration with the project sponsor and other team members, may engage in resource re-allocation to make sure that extra resources are availed to project areas that might have fallen behind schedule. Third, the project members might engage in multitasking, which basically entails working on multiple project activities for a specific amount of time to permit for more than one activity to be completed (Lock, 2007). Other strategies that may be used include increasing dedicated time, project schedule compression, and fast-tracking of activities (Schwalbe, 2010).Advertising Looking for essay on project management? Let's see if we can help you! Get your first paper with 15% OFF Learn More Conclusion The above analysis demonstrates the complexities involved in project management, particularly in making estimations for resources and time durations. The analysis has also touched on project milestones and how such milestones need to be generated to ensure successful implementation of projects. All in all, the underlying task is for the project manager to lead the team using industry-specific best practices in project management to ensure successful implementation (Lock, 2007). Reference List Higginbotham, J. (2008). Project planning: Identify milestones, assumptions, and tasks. Retrieved from volunteercentered.com/2008/03/31/project-planning-identify-milestones-assumptions-and-tasks/ Kerzner, H. (2001). Project management: A systems approach to planning, scheduling, and controlling, 7th Ed. New York, NY: John Wiley Sons. Lock, D. (2007). Project management, 9th Ed. Hampshire: Gower Publishing Ltd. Schwalbe, K. (2010). Information technology project management. Boston, M A: Cengage Learning.

Choosing an Ivy League Business School

Choosing an Ivy League Business School The Six Ivy League Business Schools Ivy League schools attract intellectuals from around the world and have a legendary reputation for academic excellence. There are eight Ivy League schools, but only six Ivy League business schools. Princeton University and Brown University do not have business schools. The six Ivy League business schools include: Columbia Business School - Columbia UniversitySamuel Curtis Johnson Graduate School of Management - Cornell UniversityHarvard Business School - Harvard UniversityTuck School of Business - Dartmouth CollegeWharton School - University of PennsylvaniaYale School of Management - Yale University Columbia Business School Columbia Business School is known for its diverse entrepreneurial community. The schools location in the business hub of New York City provides unparalleled immersion in the business world. Columbia offers many different graduate programs, including an MBA program, executive MBA programs, doctoral programs, and Master of Science programs in several business disciplines. Students who are seeking an international experience should explore Columbia’s pioneering program with London Business School,  EMBA-Global Americas, and Europe, or the  EMBA-Global Asia, created in partnership with the University of Hong Kong. Samuel Curtis Johnson Graduate School of Management Cornell Universitys Samuel Curtis Johnson Graduate School of Management, more commonly known as Johnson, takes a performance-learning approach to business education. Students learn theoretical frameworks, apply them to real-world situations in actual business settings, and receive continuous feedback from qualified experts. Johnson offers the Cornell MBA five different ways: one-year MBA (Ithaca), two-year MBA (Ithaca), tech-MBA (Cornell Tech), executive MBA (Metro NYC), and Cornell-Queens MBA (Offered in conjunction with Queens University). Additional business education options include executive education and Ph.D. programs. Students seeking a global experience should look to Johnsons newest program, the Cornell-Tsinghua MBA/FMBA, a dual degree program offered by  Johnson at Cornell University  and  PBC School of Finance (PBCSF) at Tsinghua University. Harvard Business School The overall mission of Harvard Business School is to educate leaders who make a difference. The school does this through its educational programs, faculty, and influence around the world. HBS program offerings include a two-year MBA program, executive education, and eight full-time doctoral programs leading to a Ph.D. or DBA. HBS also offers summer programs for ambitious undergraduates. Students who like the idea of studying online should explore the schools HBX online programs, which incorporate active learning and the case method learning model. Tuck School of Business The Tuck School of Business was the very first graduate school of management founded in the United States. It offers only one-degree program: a full-time MBA. Tuck is a small business school, and it works hard to facilitate a collaborative learning environment designed to build lifelong relationships. Students participate in a unique residential experience that promotes teamwork while focusing on a core curriculum of general management skills. Their education is then rounded out with advanced electives and seminars. Wharton School Founded more than a century ago in 1881, Wharton is the oldest Ivy League business school. It employs the most published business school faculty and has a global reputation for excellence in business education. Undergraduate students who attend Wharton School work toward a BS in economics and have an opportunity to choose from more than 20 different business concentrations. Graduate students can enroll in one of several MBA programs. Wharton also offers interdisciplinary programs, executive education, and Ph.D. programs. Minority students who are still in high school should check out Whartons pre-college LEAD program. Yale School of Management Yale School of Management prides itself on educating students for leadership positions in every sector of society: public, private, nonprofit, and entrepreneurial. Programs are integrated, combining fundamental core courses with unlimited elective choices. Graduate students can choose from a range of programs at the graduate level, including executive education, MBA programs, a Master of Advanced Management, Ph.D. programs, and joint degrees in business and law, medicine, engineering, global affairs, and environmental management, among others. Yale School of Management does not award undergraduate degrees, but second-, third-, and fourth-year university students (as well as recent graduates) can participate in Yale SOMs two-week Global Pre-MBA Leadership Program.

Why did the U.S. Supreme Court once rule that the federal income tax Essay

Why did the U.S. Supreme Court once rule that the federal income tax was unconstitutional How did Congress react Include proper in-text citations in APA format to support your answer - Essay Example This culminated in the annulment of the federal Income Tax Act of 1894, by the United States Supreme Court, on constitutional grounds. The Court held the levy imposed by the law on the returns from real estate was not sufficiently different from the taxes remitted by the property owners on the same assets. The court, therefore, categorized the duty as a direct tax, which should be apportioned among the different States. This ruling set a remarkable precedent, that, although, not all income taxes amounted to direct taxes; however, it was still unclear whether the income tax fell in either category of taxes. Regardless, the income tax was believed to be illegal because Congress had not yet streamlined the Sixteenth Amendment to be in tandem with the taxation laws. Federal authorities in charge on income tax based their arguments on the fact that the passage of the Sixteenth Amendment permitted the government to implement the income taxes. Additionally, the court concluded that the enactment of such a law would be a recipe for chaos between different social classes. Nonetheless, the ruling prompted Congress to correct the ambiguous issue by ratifying a Constitutional amendment. Shortly after the passing of the Amendment, the legislature enacted another legislation governing income tax; a legal structure, which was largely drawn from the 1894 law. It was, however, clearer on both