Business Financing Whiz Bang Corporation

Questions: Discuss about the Business Financing Whiz Bang Corporation. Answers: Introduction Every organization survives in the dynamic world only because of three factors which are people, plant and profit. The three plays major role in the success of every organization. People consist of human resources who are employed in organization, plant consists of the movable and immovable assets of the organization and profit is the earnings made by the company. In this report, the focus is on the assets of the organization. The aim of this report is to analyze the need of replacement of an asset, to analyze the project with various capital budgeting techniques and to finalize the way through which the asset shall be financed with help of the concept of cost of capital in weighted average terms. The body of the report has been divided into three sections first one deal with the capital acquisitions, second deals with the appraisal of the project and third deals with the project financing. The report is then ended with the conclusion containing the summary of the report and finding s and interpretations thereon. In the last, the recommendation has been given phase wise. It has been followed by the proper list of references and appendices containing the calculations. Capital Acquisitions Before making any decision, the decision maker should have requisite information and explanations along with the documentary evidences so that an effective and efficient decision can be taken. Assets are regarded as back bone of every organization without which it cannot work. In any business organization, every kind of asset needs replacement after the passage of time and replacement will always bring and economic benefit to the economy. Replacement may occur due to expiration of the estimated life of an asset or due to sudden failure of an asset. In order to replace an asset, the approval shall come from the top management and that too after the proper appraisal of the information regarding the reasons for replacing the asset. In the current scenario, the equipment has been worn out and has crossed the estimated useful life. It means that though the equipment may be technically efficient but it requires so much maintenance cost and running cost that will exceed the salvage value of the equipment. Secondly, the value as of now will be equivalent to value at the completion of the estimated life after the maintenance (GFOA, 2010), (AASB, 116) Therefore, before proceeding to have replacement of the equipment, due and proper care shall be taken. The following informations are required by the management for appraising the action for replacement of an asset: Purchase cost of an asset and the value as on date as per books of accounts Present Condition of an asset Remaining Estimated useful life of an asset as at current date Reasons for replacing an asset. Estimated Maintenance Cost which is required to be incurred in case the same asset is to be kept Estimated Running cost of an asset which is required to be incurred in case the same asset is to be kept Estimated Scrap value of an asset Cost - benefit analysis of replacement decision. Estimated useful life of new asset. Cost of new asset and quotations from at least three vendors (DHPW,2012), (University of Tolado, 2002). The above informations are very necessary for replacement decision as without the availability of these no decision can be taken. There are various reasons for obtaining the information. At the first, the carrying amount as on date must be known to the decision maker along with the remaining useful life and it is then compared with the salvage value of an asset. Secondly, the cost of maintenance and running an asset must be worked out and compare the same with future cash flows to calculate present value if the current asset is retained (Sondillane M). Thirdly, the detail of new asset to be acquired is very essential. The details must be obtained from different vendors as to the cost and other technical; specifications and then proper analysis shall be made. If it is observed that the asset if continued will incur an expensive maintenance and running cost in comparison with the salvage value and the present value of future cash inflows, then its better to replace the asset. The approval will come from the top management along with the funds to purchase the asset. Project Proposal This scenario deals with the appraisal of the new project with the use of capital budgeting techniques. Capital Budgeting deals with the process of planning the expenditure which is to be incurred on the project in such a manner that the selected project out of the various available projects will be the best one which will maximize benefits for long term. This decision means the decision to be made by top management to whether to invest in a particular long term projects or not. These projects may include purchase of huge plant and machinery, purchase of turnkey project or manufacturing an item on their own instead of purchasing from outside. The finance manager of every organization is personnel who are responsible for assisting the management in making the decision for taking up the project. While evaluating the project, he uses various techniques which are known as capital budgeting techniques. It includes Payback period, Net Present Value and others. These methods are described a s follows: Payback period method: It denotes the number of years within which the organization will be able to recover the initial cost that has been incurred by it at the time of acquisition of the project. It is expressed in years and months. At the payback period, the inflows will be equal to the outflows. It means payback period method defines the time at which the organization may be able to cover the investment originally made. If there are two projects and one has to be selected, then the decision will automatically go in favor of the project which has short payback period. Its because shorter the period higher will be the long term benefits the organization will have. Net Present Value Objective of every firm is to have more wealth. Wealth comes from the net earnings and net earnings are the difference between inflows and outflows of firm relating to the project. It helps in arriving at the net earnings by discounting the future cash inflows and deducting the cash outflow from therein. If the difference comes as positive, the proposal is accepted otherwise rejected (Illes, 2012), (Juhasz L). The discounting rate is cost of capital of firm. Internal Rate of Return It is the return at which initial cost of proposal is equal to the present value of the future cash inflows. In other words, it is the rate at which the Net Present value is zero (Edward,2010). Thus, it is regarded as the cut - off rate at which the project or investment may be accepted. If it is higher than the cost of capital, then the proposal is accepted otherwise rejected (Juhasz L). In the given scenario, one project has been identified for the company which will have life of ten years and an initial cost of $60,00,000. The aforementioned three techniques have been adopted to judge the feasibility of the proposal. The calculation is given in Annexure 1. As per the calculation, Net present Value of the Project is $ 1,98,420 /- Internal rate of return is 12.80% Payback period is 9.77 years. As per the decision criteria of Net present Value, it is positive of $1,98,420 /- therefore the project may be accepted. As per the decision criteria of Internal Rate of Return, it is of 12.80 % which is more than the cost of capital of 12% and thus the project may be accepted. As per the decision criteria of payback period, that project shall be selected where the investment may be recovered at an early point of time. In the given case, the project has estimated useful life of ten years and the payback period is only 9.77 years which indicates that the project will not be able to recover its investment in its initial phase and thus on the basis of the payback period method the project may not be accepted. The aforesaid methods have their own advantages and disadvantages. Payback period Though the payback period method is very simple and easy to understand and adopt, gives the potential or prospective investors an idea of time period within which they will able to get their investment but it contains many demerits. One of the major demerits is that the method assumes the case of liquidity rather than profitability. Its because it considers the cash inflows only during the specified period and not after that. Secondly it completely ignores the concept of going concern. Thirdly, it lacks the measurement of percentage return on the investment made. Net Present Value It is considered as the best measure to evaluate the project. It has many advantages over other methods like the method considers the time value of money, it helps in selecting the best proposal out of the available proposals, assumes that the cash flows represent the shareholders wealth and it provides the figure of the net benefits arising out of the available proposals over its span of life. But it has one major disadvantage that the method does not provide the actual results where the projects under consideration have different estimated life of project (Blas 2006), (Damodran). Internal Rate of Return It is the second method which counts the time value of money and takes into account all the cash inflows and cash outflows. But on the other hand it is complex to calculate and provides the multiple rates which leads to confusion to the finance manager. Thus, as per the figures of the aforesaid three parameters, the project is feasible and it is recommended that the organization shall approve the proposal. Apart from the above financial parameters, there are some non financial parameters. These include Technological advancement, estimated useful life and estimation of the demand of the product in future which will generate out of that project. Technological advancement refers to the status of the technology of machinery or plant under proposal. It should be at the level which denotes that the organization can cope up with the changing environment and will be able to generate the economic benefits in future. If it is found after proper testing that the equipment under proposal is technologically advanced then the proposal is accepted. Secondly, useful life of an asset to be replaced with shall be estimated with due care as the asset is considered as long term benefit source and if the accurate estimation has not been made then the project may not be accepted. Lastly, the estimate of the future demand of the product shall be made with the help of marketing expert and other professionals. It is because if the demand in the future is decreased by any percentage then it will affect the whole analysis made by the finance manager using the capital budgeting techniques. Thus, in view of the above discussion, it is recommended to accept the proposal and take the project. Its necessary to look after the non financial matters also. Therefore, as per the capital budgeting techniques and other discussion, the proposal shall be accepted in full. Project Financing WACC is the companys cost in percentage terms to borrow the money from different sources of finance (Giddy). The finance may be raised by issuing equity shares, by issuing debentures, by raising loans from banks or other financial institutions, by raising loans from relatives or friends as unsecured loan and by having loans in the form of bank bills or bank overdraft being short term loan. All these sources carry cost of financing which the borrower needs to repay at periodical intervals. Some requires their payments on monthly basis; some requires it on quarterly basis, some requires it on semi annually or some on annual basis. The cost of financing carries the other component with it which is known as tax rate. Tax rate is the rate at which any corporate needs to pay the tax to the government treasury. For calculating it, after tax cost of debt is considered. Equity Cost does not carries tax rate because of the fact that the fund has been raised by issuing equity shares of the comp any to their shareholders. The formula for calculating cost of each source of finance is different whether it may be equity or any form of debenture (Pareja 2009), (Lee), (Sabesp 2011). In the given case of Whiz Bang Corporation Limited, there are three sources of finance under debt namely debentures, bank bills and bank overdraft. Calculations of Weighted Average Cost of Capital are given in Annexure II. Debenture carries a fixed annual rate of 12% and its cost works out as 9.80%, Bank bills carries yield of 10% and its cost is 7% and Bank Overdraft carries yield of 11% and its cost is 7.70%. All these sources are in the ratio or 3:2:1 respectively. The Weighted average cost of debt as calculated is 4.26% and of equity is 3.07%. Thus the total WACC as calculated sum of both is 7.33%. In the given case, it is the better method for evaluating the project. It is because, all the relevant data which includes weight of each source of finance and all items for calculation of its cost has been given for calculating the weighted average cost of capital and there are two sources debt and equity and overall cost of capital can be obtained only with the help of the weighted average cost of capital. Along with the advantages there is one major hurdle in adopting this method is that the ratio of capital structure of the company cannot be maintained as it is for the future years. In the given case the debt equity ratio has been defined 1:1 and the three components of debt is in the ration on 1:2:3. In the real world it cannot remain the same, it will change in accordance with the changing external or internal environment of the company. Second restriction is that it is difficult to obtain the present cost of capital from the market as the cost changes daily. Third major restriction is that the method assumes that the new project will have the same risk as assigned to earlier projects. Due to this most of the times company ends up with the project by accepting bad projects and rejecting the new projects. Although, the method have disadvantages, but in the given case weighted average cost of capital is accepted. Conclusion Whiz Bang Corporation Limited has undergone three phases wherein the capital acquisition has been reviewed, project proposal has been evaluated and weighted average cost of capital has been calculated. The first one has dealt with the replacement of an asset in which all the areas have been covered as to which information is required by the finance manager to go for replacement and reason thereon. In the second phase, project has been appraised by the use of Capital budgeting methods including NPV, Payback period and IRR and on the basis of results decision whether to accept the project or not has been recommended. In the third phase, financing of project has been made. In this the WACC has been found and the restrictions in using this method in the given case have been discussed. In order to conclude the report, the analysis in each of the three phases has been made in detail with proper calculations and discussions. Recommendetion In each of the three phases, different recommendations have been made. In the first phase dealing with the replacement of assets, requisite information has been mentioned so as to evaluate whether the replacement is actual in need and the amount of funds to be released for replacement. It is recommended to have more information before proceeding to release of funds. In the second phase, project has been appraised and it is recommended to accept the project as the same has positive NPV and higher IRR. In third phase, relevancy of WACC in the given case has been detailed and it is recommended that the company has adopted correct method in order to arrive at total cost of the capital. Thus, except at first phase, the recommendation has been made positive without any requirement of further details. References Illes M., 2012, Links between Net Present Value and Shareholder Value from a Business Economic Perspective, Retrieved from https://www.academia.edu/3628065/Links_Between_Net_Present_Value_and_Shareholder_Value_from_a_Business_Economics_Perspective accessed on 23-12-2016. Edwards G, 2010, Comparing NPV and IRR, Retrieved from https://www.brighthubpm.com/project-planning/95800-comparing-npv-and-irr/ accessed on 23-12-2016. GFOA, 2010, Asset maintenance and Replacement, Retrieved from https://www.gfoa.org/asset -maintenance-and-replacement accessed on 23/12/2016, AASB, 2010, Property, Plant and Equipment, Retrieved from https://www.aasb.gov.au/admin/file/content102/c3/AASB116_07-04_ERDRjun10_07-09.pdf accessed on 24/12/2016. DHPW, 2012, A Guide for Asset and Finance Managers retrieved from https://www.hpw.qld.gov.au/SiteCollectionDocuments/MMFPanCapExpense.pdf accessed on 24/12/2016. Bonnville Power Administration (BPA), Repair versus Replace, retrieved from https://www.bpa.gov/Finance/FinancialPublicProcesses/CapitalInvestmentReview/cirdocuments/Agency_Overview_Repair-vs-Replace.pdf accessed on 24/12/2016. Sondillane M, Is your annual production plant maintenance cost running at more than 3% of your replacement asset value, Retrieved from https://www.lifetime-reliability.com/cms/free-articles/enterprise-asset-management/asset-replacement-value/ accessed on 24/12/2016. University of Tolado, 2002, Replacement Analysis, Retrieved from https://cset.sp.utoledo.edu/~nkissoff/lessons/Lesson14.html accessed on 24/12/2016. Blas B, 2006, Net Present Value, Retrieved from https://www.uam.es/personal_pdi/economicas/bdeblas/teaching/ucd/ecn134/lectures/slides1.pdf accessed on 24/12/2016 Damodran A, Present Value, Retrieved from https://people.stern.nyu.edu/adamodar/pdfiles/cf2E/tools.pdf accessed on 24/12/2016. Juhasz L 2011, Net Present Value versus Internal rate of Return, Retrieved from https://www.economics-sociology.eu/files/05%5B8%5D.pdf accessed on 24/12/2016 Cristodoulou A 1996, The Internal Rate of Return Problems and Manners of Solution, Retrievedfrom https://www.iamb.it/share/img_new_medit_articoli/802_32cristodoulou.pdf accessed on 24/12/2016. Giddy I, The Weighted Average Cost of Capital, Retrieved from https://pages.stern.nyu.edu/~igiddy/articles/wacc_tutorial.pdf accessed on 24/12/2016. Pareja I 2009, A Note on the Weighted Average Cost of Capital, Retrieved from https://pruss.narod.ru/WACC.pdf accessed on 24/12/2016 Lee S, Weighted Average Cost of Capital, Retrieved from https://www.hkiaat.org/images/uploads/articles/Weighted.pdf accessed on 24/12/2016. Sabesp 2011, Weighted Average Cost of Capital,. Retrieved from https://www.sabesp.com.br/sabesp/filesmng.nsf/C96F08ACA72B899C8325787700559FE5/$File/WACC_sabesp_contribution.pdf accessed on 24/12/2016

Cypress Semiconductor free essay sample

A strong, valid point can be made on the part of our company without the need for lengthy descriptions of corporate practice and explanatory examples. Another aspect of the letter I feel may benefit from some revision is the general tone toward Sister Doris Gormley and The Sisters of St. Joseph. While the letter develops in somewhat of a demeaning and negative manner, our company wishes to shed a respectful light on all shareholders. This is not to say that the meaning of the response shall be lost, but that the delivery of it is appropriately presented. I have attached a draft letter of response to Sister Doris with the aforementioned revisions. Doris Gormley, OSF Director, Corporate Social Responsibility The Sisters of St. Francis of Philadelphia Our lady of Angels Convent – Glen Riddle Aston, PA 19014 Dear Sister Gormley: Thank you for your letter regarding the racial and gender diversity of the Cypress Semiconductor board of directors. This is not to say that the meaning of the response shall be lost, but that the delivery of it is appropriately presented. I have attached a draft letter of response to Sister Doris with the aforementioned revisions. Doris Gormley, OSF Director, Corporate Social Responsibility The Sisters of St. Francis of Philadelphia Our lady of Angels Convent – Glen Riddle Aston, PA 19014 Dear Sister Gormley: Thank you for your letter regarding the racial and gender diversity of the Cypress Semiconductor board of directors. As the same letter was received last year, I will attempt to clarify our management decisions and stance on the issue. The board of directors holds a very critical management function within or organization with the following criteria essential for membership: -Experience as a CEO of an influential technology based company -Direct expertise in the semiconductor industry based on education and management experience -Direct experience in management of a company that buys from the semiconductor industry You are correct in proclaiming that women and minorities are continuing to move into upper level management positions in the business world; however this diversification is still in a growth stage. Currently the pool of candidates for our board of directors tends to very heavily represent the demographics currently holding positions on the board. As the previously described diversification of the workforce reaches levels consistent with the required knowledge, experience, which it will in the near future, a broader range of candidates will be available; naturally resulting in many organizations being then able to form a board of directors representative of the diversified potential members. At this time, as it will be in the future, our board of directors is selected with great care and concern with a primary focus on ability to bolster profits. This is a duty for which we are responsible to our shareholders. Cypress Semiconductor in no way aims to discriminate outside of what is legally and technically required to be a member. If you have any further questions regarding Cypress Semiconductor Corp. , my explanation of reasoning, or exercising your shareholder’s right feel free to contact us.

Tackling The Situation Of Soup And Salad Shop Essay Sample free essay sample

After gustatory sensation proving the soups and merely like the regular clients. happening them below outlooks. I would foremost state the whole state of affairs to the caput chef in a friendly mode because by get downing faulting him without listening to his side of the narrative would non assist me in undertaking the state of affairs amicably. The caput chef might either reason that the soups are every bit good as they used to be or he might give several grounds for the debasement of the quality of his cookery. If he is non willing to believe what the clients and I have discovered so I would inquire him to savor the soups himself and recognize the difference in the quality of the soups. If he is still inexorable so I would inquire him to talk to a few of our loyal clients to acquire an penetration into the state of affairs as a feedback from customers’ side would assist him in acquiring the point right. We will write a custom essay sample on Tackling The Situation Of Soup And Salad Shop Essay Sample or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page After this I would oppugn him about the right scheme to acquire back to our earlier criterion. This manner he would take an active and constructive portion without experiencing humiliated. On the other manus if he says that there has non been any salary hiking of late and this is the ground for a debasement of the quality of the soups so I would inquire him to rectify his quality instantly and give me a small clip to reexamine the entire scenario. I would guarantee him of a determination in his involvement every bit far as possible. I would make this because on the caput chef depends the quality of the soups and on the quality of the soups depends my shop’s success. If he says that our shopping budget needs to be reworked or there should be a alteration of topographic point from where we purchase our ingredients so I would oppugn him that what harmonizing to him is an appropriate budget and would inquire him to assist me out in make overing the budget so that good quality ingredients could be bought. I would besides inquire him to propose the name of a store or market to where we can switch our food market shopping for superior quality ingredients. Hence by work ing out the practical solution to whatever ground the caput chef gives sing the alteration in the quality of the soups. I would undertake the state of affairs in the best possible manner. I would thank my regular clients for being loyal to my store and alternatively of altering the store. allowing me know what was awry. Then I would guarantee them that I have looked into the affair and I had been seeking my best to supply them the finest quality soups. I would state them that in order to give them a better service. I have started purchasing a superior quality of ingredients. I would guarantee them that this sort of error would non be repeated in future. Weitz. Ccastleberry and Tanner ( 1992. p. 347 ) justly observed â€Å"†¦few chances exist to develop good will comparable to those provided by the proper handling of client ailments. † Mentions IRWIN.

Battle of Agincourt - Hundred Years War

Battle of Agincourt - Hundred Years' War Battle of Agincourt: Date Conflict: The Battle of Agincourt was fought October 25, 1415, during the Hundred Years War (1337-1453). Armies Commanders: English King Henry Vapprox. 6,000-8,500 men French Constable of France Charles dAlbretMarshal Boucicautapprox. 24,000-36,000 men Battle of Agincourt - Background: In 1414, King Henry V of England began discussions with his nobles regarding renewing the war with France to assert his claim on the French throne. He held this claim through his grandfather, Edward III who begun the Hundred Years War in 1337. Initially reluctant, they encouraged the king to negotiate with the French. In doing so, Henry was willing to renounce his claim to the French throne in exchange for 1.6 million crowns (the outstanding ransom on French King John II - captured at Poitiers in 1356), as well as French recognition of English dominion over occupied lands in France. These included Touraine, Normandy, Anjou, Flanders, Brittany, and Aquitaine. To seal the deal, Henry was willing to marry the young daughter of the chronically insane King Charles VI, Princess Catherine, if he received a dowry of 2 million crowns.  Believing these demands too high, the French countered with a dowry of 600,000 crowns and an offer to cede lands in Aquitaine.  Negotiations quickly stalled as the French refused to increase the dowry. With talks deadlocked and feeling personally insulted by French actions, Henry successfully asked for war on April 19, 1415. Assembling an army of around, Henry crossed the Channel with around 10,500 men and landed near Harfleur on August 13/14. Battle of Agincourt - Moving to Battle: Quickly investing Harfleur, Henry hoped to take the city as a base before advancing east to Paris and then south to Bordeaux. Meeting a determined defense, the siege lasted longer than the English had initially hoped and Henrys army was beset by a variety of diseases such as dysentery. When the city finally fell on September 22, the majority of the campaigning season had passed. Assessing his situation, Henry elected to move northeast to his stronghold at Calais where the army could winter in safety. The march was also intended to demonstrate his right to rule Normandy. Leaving a garrison at Harfleur, his forces departed on October 8. Hoping to move quickly, the English army left their artillery and much of the baggage train as well as carried limited provisions. While the English were occupied at Harfleur, the French struggled to raise an army to oppose them. Gathering forces at Rouen, they were not ready by the time the city fell. Pursuing Henry, the French sought to blockade the English along the River Somme. These maneuvers proved somewhat successful as Henry was forced to turn southeast to seek an uncontested crossing. As a result, food became scarce in the English ranks. Finally crossing the river at Bellencourt and Voyenes on October 19, Henry pressed on towards Calais. The English advance was shadowed by the growing French army under the nominal command of Constable Charles dAlbret and Marshal Boucicaut. On October 24, Henrys scouts reported that the French army had moved across their path and was blocking the road to Calais. Though his men were starving and suffering from disease, he halted and formed for battle along a ridge between the woods of Agincourt and Tramecourt. In a strong position, his archers drove stakes into the ground to protect against cavalry attack. Battle of Agincourt - Formations: Though Henry did not desire battle due to being badly outnumbered, he understood that the French would only grow stronger. In deploying, men under the Duke of York formed the English right, while Henry led the center and Lord Camoys commanded the left.  Occupying the open ground between the two woods, the English line of men at arms was four ranks deep. The archers assumed positions on the flanks with another group possibly being located in the center. Conversely the French were eager for battle and anticipated victory. Their army formed in three lines with dAlbret and Boucicault leading the first with the Dukes of Orleans and Bourbon. The second line was led by the Dukes of Bar and Alenà §on and the Count of Nevers. Battle of Agincourt - The Armies Clash: The night of October 24/25 was marked by heavy rain which turned the newly plowed fields in the area into a muddy quagmire. As the sun rose, the terrain favored the English as the narrow space between the two woods worked to negate the French numerical advantage. Three hours passed and the French, awaiting reinforcements and perhaps having learned from their defeat at Crà ©cy, did not attack. Forced to make the first move, Henry took a risk and advanced between the woods to within extreme range for his archers. The French failed to strike with the English were vulnerable (Map). As a result, Henry was able to establish a new defensive position and his archers were able to fortify their lines with stakes. This done, they unleashed a barrage with their longbows. With the English archers filling the sky with arrows, the French cavalry began a disorganized charge against the English position with the first line of men-at-arms following. Cut down by the archers, the cavalry failed to breach the English line and succeeded in doing little more than churning the mud between the two armies. Hemmed in by the woods, they retreated through the first line weakening its formation. Slogging forward through the mud, the French infantry was exhausted by the exertion while also taking losses from the English archers. Reaching the English men-at-arms, they were able to initially push them back. Rallying, the English soon began inflicting heavy losses as the terrain prevented the greater French numbers from telling. The French were also hampered by the press of numbers from the side and behind which limited their ability to attack or defend effectively. As the English archers expended their arrows, they drew swords and other weapons and began attacking the French flanks. As a melee developed, the second French line joined the fray. As the battle raged, dAlbret was killed and sources indicate that Henry played an active role at the front. Having defeated the first two French lines, Henry remained wary as the third line, led by the Counts of Dammartin and Fauconberg, remained a threat. The only French success during the fighting came when Ysembart dAzincourt led a small force in a successful raid on the English baggage train. This, along with the menacing actions of the remaining French troops, led Henry to order the killing of the majority of his prisoners to prevent them from attacking should the battle resume. Though criticized by modern scholars, this action was accepted as necessary at the time. Assessing the massive losses already sustained, the remaining French troops departed the area. Battle of Agincourt - Aftermath: Casualties for the Battle of Agincourt are not known with certainty, though many scholars estimate the French suffered 7,000-10,000 with another 1,500 nobles taken prisoner. English losses are generally accepted to be around 100 and perhaps as high as 500. Though he had won a stunning victory, Henry was unable to press home his advantage due to the weakened state of his army. Reaching Calais on October 29, Henry returned to England the following month where he was greeted as a hero. Though it would take several more years of campaigning to achieve his goals, the devastation wrought upon the French nobility at Agincourt made Henrys later efforts easier. In 1420, he was able to conclude the Treaty of Troyes which recognized him as the regent and heir to the French throne. Selected Sources History of War: Battle of Agincourt

The Increasingly Changing Immigration Policies Research Paper

The Increasingly Changing Immigration Policies - Research Paper Example The ‘Geneva Convention’ provided refuge to millions of Refugees in the post world war period until the Cold War of the 1980s and it set the basis of immigration policies and laws in most of the countries. But in the post-Cold War period till today it has been faced with a number of issues and as a result of a number of member states especially the European countries have begun straying away from the basic policy, in order to block the huge flow of migrants every year due to the insufficiencies of the convention. It is an undeniable fact that the ‘Geneva Convention’ was the foundation of the Refugee protection regime and was the one truly universal instrument that gave basic principles on which the international protection of Refugees was built. But the essence of disapproval of the 1951 UN Refugee Convention is that it is archaic. The treaty was formulated in and for a specific era. While Western countries' refuge structures might have managed well enough un til the end of the Cold War, they were not intended to counter the current mass refugee outflows and migratory activities. The United Kingdom had a long custom of migration. Due to its ownership of a large number of colonies all over the world, the UK has been the centre for asylum seeker, working immigrants and refugees. Despite the huge influx of refugees in the UK even in the post-cold war period, the policy system was rather reactive in nature and a decentralized approach was maintained to the refugee issue until 1993. Politicization of the migration policies in most of the European countries since 1970s was rather less intensified in the UK’s case.

From an environmental perspective discuss the relationship between Research Paper - 2

From an environmental perspective discuss the relationship between Logistics, Operations and the Environment in International Manufacturing Organisations - Research Paper Example The third bottom line is the planet account which is the measure of how responsible the company has been to the environment. Therefore, the triple bottom line consists of profit, planet and people. This is used to measure the financial, social and environmental accomplishments of the company over a specified period. A company that does this is taking into full account the total cost of the operations. These may also be referred to as the three pillars of business (Avella et al, 2010). The basis of this concept is the fact that what a company measures is what the company is likely to direct its attention towards. When the companies measure their social and environmental impacts, they will pay attention to these effects. This is arguably the only way the community will have socially and environmentally responsible organizations. The three pillars of business include the customers, systems and teamwork. Customers are a core aspect considered in the prosperity of a business. They provide the cash flow that sustains businesses. The organization must aim to succeed with its customers so as to succeed as a whole. The motivation of the organisation is to provide the customer with what they want in order to fulfil their needs and perceptions. A good team is created through synergy that is created through trust and working closely together. The executive team in charge should be able to rely on each person in the team. The team members should know their job specifications and fulfil them as expected. The team members should also receive appropriate training following their employment in the organizations on what is expected of them so as to improve efficacy in their work performance. A business should also create specific set ways of doing things and carrying out certain activities which include computer technology , communication and networks. This reduces the time it takes for procedures to be executed. Set

Target Market Essay Example | Topics and Well Written Essays - 1000 words

Target Market - Essay Example In order to respond to this issue, Mary Kay has representatives and consultants all around the world who are not only involved in research and development of new products but in the marketing and sales of the same. The brand identify of Mary Kay products has put it as a luxury brand that is known for standard and quality. The company’s own efforts are such that they try to brand each product as an individual brand that has to be taken care of with its own separate stream of marketing strategies. Like every cosmetic product, the motivation to use and buy is more psychological than material. People have the need to feel loved and appreciated and they like to adapt in a way that’s acceptable. The benefit of self-esteem with prestige is what Mary Kay sells. Of course, a brand will only sell on that basis when the message can be reflected in their product quality as well (Viverios & Negus, April 2009). Mary Kay enjoys exposure to a large customer base through its diversified brand and products range. It has a total of about 200 premium products that have been divided under 6 classes or categories, targets both men and women, is vertically well integrated and has a range of skin and hair care products sold as drugs and ailments too (Datamonitor, 2008). In 2008, Mary Kay was present in about 35 countries across the globe. Mary Kay exploits this advantage by having employed millions of independent beauty consultants around the world and having built a separate manufacturing plant in China to meet the needs of Asian customers (Bhattacharya & Prinyanka, 2008). As compared to its biggest competitor Avon and other competitors such as L’Oreal, companies that operate in a multinational and dynamic platform, Mary Kay lacks the ability to operate at such massive scales. While these companies have the ability to reach out customers in the farthest regions and