Sunday, August 18, 2019

Chemistry Coursework †Fuels Essay -- GCSE Chemistry Coursework Invest

Chemistry coursework – Fuels Planning ======== Aim --- In this investigation I will have to find out which of the alcohol fuels: methanol, ethanol, propanol and butanol, is the best. The ‘best’ one will be the one which creates the most energy whilst burning. Introduction and prediction --------------------------- A fuel is a substance burned for heat or power. The best type of fuel is one that: can be transported safely without the worry of it catching on fire, gives out a lot of heat for a certain mass, does not cost very much, lights quickly, burns slowly, is safe to use and does not give off any form of polluting gases. When burning alcohols, as I am going to do in this investigation, the reaction is exothermic as heat is given out. Breaking the bonds of the original alcohol by burning requires energy-it is endothermic, making the bonds of the new products of burning the alcohol ie carbon dioxide and water gives out energy-it is exothermic. I predict that Butanol will require the most energy as it has the most bonds holding the carbon, oxygen and hydrogen atoms together. Propanol will require the second largest amount of energy, Ethanol the third and Methanol the least amount of energy to break these bonds. Methanol CH3OH Ethanol C2H5OH Propanol C3H7OH Butanol C4H9OH Pentanol C5H10OH Therefore I predict that Methanol will be the ‘best’ fuel, followed by Ethanol, then Propanol and the worst fuel will be Buta...

Saturday, August 17, 2019

Continental/Fintelco Jv Case Analysis Essay

1. Is entry into the Argentine market a good strategic move for Continental? Entering Argentine market in 1993-1994 was a good strategic decision for Continental as one of the TOP5 cable TV companies in the US despite certain risks for several reasons: 1. Changes in the US regulatory environment created additional challenges for Continental’s core business: 1992 Cable Act limited the cable TV companies’ ability to raise cable rates whereas costs at market prices reached up to $2000/subscriber. This inevitably led to constrained profit margins 2. US market began saturating: long-standing competition on the market coupled with growing demand and consumer selectivity has led to further squeezing margins and forced companies to seek for diversification of revenue streams –by entering non-traditional cable markets, capturing smaller niches, or expanding overseas. 3. Argentine cable TV marked lagged in behind US market by almost a decade: cable TV penetration barely re ached 50%, subscription growth rates approached 60-70% in selected areas. Also, the market was only beginning to consolidate around 4 major players – more than 50% of the market was controlled by a thousand of smaller operators. Although Buenos Aires was relatively more mature market, other regions and provinces presented lucrative opportunities. Telephone, satellite, and other adjacent markets had untapped future opportunities. So far, emerging Argentine promised much brighter prospects for cable TV companies than saturating US. 4. Argentine macroeconomic indicators exhibited positive dynamics despite high level of uncertainty: indeed, after a decade of political turmoil and military rule Argentine was finally building a democratic civilian government. During four years preceding the acquisition, Carlos Menem and Domingo Cavallo launched effective economic and political reforms, including deregulation and privatization in TMT and other major sectors. In particular, legislation became very favorable to foreign investors. However, Argentine was suffering from hyperinflation and chronic recessions during the previous decade. Moreover, political risks were becoming more and more tangible as presidential elections of 1995 approached. As a result, the beta for Argentine was two times as high as that for the US. Is Fintelco an appropriate venture partner? Fintelco possessed at least three characteristics of a good venture partner: a. Knowledge of local market including cultural, political, and regulatory background as well as customer programming tastes. Basically, buying a successful incumbent is one of the best potential moves while entering â€Å"terra incognita† b. Fintelco had strong presence in various regions and owned licenses in MDDS and satellite, which created solid base for revenue streams diversification and future growth. c. Fintelco was still owned and managed by its founder, a prominent serial entrepreneur with diversified assets. Liberman had a very hands-on approach in business, and thus secured complete alignment of incentives between the management and the owners. 2. What are the major opportunities and risks you see in the venture? Success factors and opportunities (excluding market opportunities mentioned above): a. Personal and professional â€Å"click† between Samuel Liberman and Amos Hotsetter indicated good potential for constructive and conflict-free partnership. b. Similar growth strategies and vision: both companies grew using clustering strategy and capturing operating efficiencies by consolidating subscribers geographically. c. Limited access to capital markets in Argentine: Continental had access to capital markets in the US which could significantly foster business development in a country with scarce financial resources. Risks&Concerns: a. Active involvement of Fintelco’s founder and owner in business operations has also created certain problems. For instance, it resulted in a sort of nepotism – many key positions were held by Liberman’s direct relatives. Thus, potential restructuring and changes in management would be complicated. Also, after an acquisition Liberman would have 50% ownership, which could decrease his involvement in this particular business and also led to incentives misalignment. Indeed, he had diversified businesses and could have been looking for a cash-out. Liberman’s full involvement and commitment were crucial for joint venture success. b. Fragmented regional market in Argentine commanded inorganic expansion trajectory for Fintelco, which in turn required capital commitment from both parties. A ceiling should have been established to limit uncontrollable capital pump and its inefficient allocation. c. Exchange rate risks: significant portion of revenue stream born currency exchange risk (peso vs. USD) regardless of geographical and product diversification. These risks were absolutely external and thus could have been hardly mitigated. 3. One could value Fintelco in either of the following ways: a. Peso cash flows discounted at peso rate and then value converted at the spot rate b. $US flows discounted at $US rate Which approach is more appropriate in this case? We analyzed assumptions required to adopt each of proposed approaches. Approach (b) – $US cash flow discounted at $US rate – assumes that: (1) Peso/$US rate would remain constant – despite stable projection of peso exchange rate till 1998, PPP implied exchange rate has a high range (0.999-1.436, 44%) and hence significant volatility. (2) $US discount rate reflects the risk of the project – As revenues of Fintelco are denominated in pesos while a significant portion of its liabilities, including interest expense and a portion of programming costs, would be denominated in $US, the project bears significant currency risk which is not reflected by US discount factor. Although the real currency of the industry in Argentina is in local currency Peso, we believe that finding a proper discount rate in Peso is quite tough and unreliable. Moreover discounting the Peso valuation with today’s exchange may be a biased approach. Hence what we prefer Ä ±s to conv ert the Peso cash flows to USD with the estimated USD/Peso rates for each period and then discount it with the US$ discount rate. 4. Is $80m for a 50% interest a fair value for Fintelco? Based on our valuation we believe that $80m for a 50% interest is a fair value for Fintelco. In our valuation we chose to be conservative with the assumptions as well as try to cover all possible risks and ran multiple iterations to obtain a good understanding of the value ranges. Our valuation is based on the following assumptions: (1) WACC of 15.35% calculated used 9.01% as Rd (BB rating), D/V ratio of 14.44% (current Balance sheet), Re of 17.07% (Lessard model) and tax rate of 40% (Exhibit 1). Beta was estimated using comparable companies (Exhibit 2). We recognize that D/V ratio as well as Return on Equity is subject to our judgment hence we assessed sensitivity of WACC to change in these assumptions. We estimated Re using 4 different models (Exhibit 3) and D/V at the level of comparable companies. WACC ranges between 10.77% and 17.19% (Exhibit 4). We believe that 15.35% is an adequate estimation of WACC reflecting both country and project risks. (2) Terminal growth of 4% based on our view of sustainability. We noticed that Fintelco’s projections imply 7% revenue growth however we do not believe that such high level of growth is sustainable in the long run, hence we suggest more conservative estimation. (3) Conversion to $US based on parity-implied exchange rates for 10yrs. We believe that due to difference in US/Argentina inflation rates over the long horizon only PPP-implied exchange rate reflects true value of money at any given point in time. We used it to convert annual peso free cash flows at the respective rate (Exhibit 5); We calculated terminal value using 2002 $US DCF value and Gordon Growth formula and arrived at Enterprise Value. We further subtracted net debt converted @1994 exchange rate to arrive to Equity Value in $US (Exhibit 6). We also calculated $US value based on spot rates (both official and PPP-implied) to assess sensitivity of the model (Exhibit 7) and concluded that our estimation is reasonably conservative and reflects country’s currency risk adequately. (4) 30% private penalty discount – as Fintelco is a private company, we discount its value further for 30% to account for lack of liquidity. Exhibit 8 contains the summary of our valuation under different scenarios. We concluded that though there are scenarios under which value of 50% share of Fintelco is below $80m, probability of these scenarios occurring is fairly low. Our base case scenario uses Lessard’s model for Return on Equity calculations, PPP-implied 10 years forecasted exchange rate and 30% private penalty discount (result highlighted). 5. In the course pack there is a reading (Estrada (2007)) about valuing offshore projects using techniques proposed by Lessard, Godfrey and Espinosa, Goldman Sachs and Salomon Smith Barney. What assumptions underlie each approach? The reading Estrada 2007 describes four models for evaluating investment opportunities in developing markets. Each model estimates a required return on equity by attempting to incorporate country and/or project-specific risk. Unlike the CAPM, none of these models has reached the level of standard-bearer in the finance community, and each rests on critical assumptions that must be considered before using them in a project assessment: The Lessard Approach: R = Rf + MRP*(ÃŽ ²p* ÃŽ ²c) * Assumes that the country beta is a good approximation of country-specific risks (political, sovereign, and expropriation) * Assumes that the risk of a project is not related to the risk of the country (e.g., ÃŽ ²p for oil industry may be low, but should be high for a country which has a history of expropriation) * Assumes that investors do not value the effect of global diversification that the project would bring the company The Godfrey and Espinosa Approach: R = (Rf + YSc) + MRP* [0.60*(ÏÆ'c/ ÏÆ'w)] * Assumes that the yield spread, which measures default risk, is an appropriate risk premium to capture sovereign risk associated with an offshore project * Applies a value (60%) that reflects the average risk reflected by the stock market but not the bond market across all developing markets, thus ignoring country-specific correlations * Assumes that the project’s risk is solely dependent on location. It does not factor project or industry-specific risk Goldman Sachs: R = (Rf + YSc) + MRP* [1- Ï SB * (ÏÆ'c/ ÏÆ'w)] * Assumes that the yield spread, which measures default risk, is an appropriate risk premium to capture sovereign risk associated with an offshore project * Assumes that the project’s risk is solely dependent on location. It does not factor project or industry-specific risk Salomon Smith Barney: R = Rf + MRP* ÃŽ ²p + [{Ï’1 + Ï’1 + Ï’3)/30]*YS * Assumes that three factors can be measures on a scale from 1 to 10 in a robust and consistent way: the company’s access to capital markets, susceptibility of project to political risk, and financial importance of project to the company) 6. Would you suggest any modifications to the structure of the deal? The structure of the transaction described in the case is to form a joint venture. Continental will: c. Purchase 50% of equity stake in Fintelco for USD 80 million. d. Commit to provide USD 70 million of capital for acquisitions and investments in technology upgrade at Fintelco. Samuel Liberman undertakes to provide another USD 70 million for the investments. e. Fintelco will bear a significant currency risk on its balance sheet, as its revenues are in peso, but liabilities, interest expense and programming costs are in US dollars. f. Continental will provide technical assistance to Fintelco on cost basis. g. The deal contained an exit agreement, the so called â€Å"shotgun deal†, whereby after four years the partners could sell to each other our trigger an outright sale to the third party. The terms of the transaction are in our opinion fair for both parties. When being a financial advisor of Continental, we would suggest: * That the commitment to invest USD 70 million in the target company is stated clearly, structured with limited recourse to the new shareholder to prevent undertaking a blanco commitment to invest capital. * Share purchase agreement between Continental and Samuel Liberman contains certain clauses about representations and warranties of both parties to mitigate the risk of financial loss in case of â€Å"window dressing† of the target company. * Shotgun clause to contain more substance over the price of the transaction in the future, giving a call and a put option to both contractual counterparties: * If one party will not wish to sell in the future at a certain price, it will undertake to purchase 50% shares in the target company from the other party at the price it declined to sell at.

Friday, August 16, 2019

Strategic Management Business Case Study for Insight Magazine

{draw:frame} {draw:g} {draw:g} INSIGHT’s MISSION, VISION & PHILOSOPHY {draw:text-box} Insight is a local social magazine founded to satisfy different appeals in the Egyptian society. It are committed to face our challenges by embracing and creating change, through innovative solutions to extend the overall content distribution and marketing model to include websites, digital magazines, virtual events, and other new technologies to establish positive relations and credibility between the magazine and its readers. It is committed to providing an informal yet professional working environment that encourages and rewards creativity, teamwork and enthusiasm. Insight’s operation is environmentally friendly. {draw:text-box} ENVIRONMENTAL SCANNING When setting the mission, Insight had to first understand the â€Å"big picture† of the environment, in which it is operating, and the opportunities and threats that lie within. Such understanding of the surrounding environment will enable us to take advantage of the opportunities that will come in our ways and minimize the threats that will face us along the way The Big Picture (PEST ANALYSIS) PEST Analysis helps understanding the â€Å"big picture† of the Political, Economic, Socio-Cultural and Technological environment, it ensures that what we are aiming for in our mission is aligned positively with the powerful forces of change that are affecting the press media. Political factor: Understanding the political environment in Egypt is almost the most important step in the scanning phase, the freedom of press in Egypt is not â€Å"as free† as it may seem because of the following: The political environment might not be stable within the next five years due to the presidential election which may negatively influence the market. Egypt's state security investigation apparatus empowered to interfere in almost every area of public life under the state of emergency in force for the last 28 years which forms a barrier for writers to speak up their minds freely. On the other hand, there are some positive changes in the political environment such as the reform program that is a work in progress. Egypt has made substantial progress in developing its legal, tax and investment infrastructure, over the past five years; Egypt has passed, amended and admitted over 15 legislative pieces one of which was the reform of the country's presidential election law, paving the way for multi-candidate polls in the upcoming presidential elections. Economical factor: The financial crisis and the recession which has recently struck the world all over definitely had an impact on the Egyptian job market in many versatile ways such as: The downfall of the western economy forced the expatriates working abroad consider twice before asking for a high salary, this made the hiring of foreign calibers easier and resulted in the layoffs of many local employees and the increase of unemployment and job market instability. Unemployment in the Egyptian society has aggressively increased during the last five years affecting indirectly the press industry. Many organizations started to adopt the policy of cost cutting and benefit minimization; this as well had the same effect as the precedent point resulting in unemployment and instability. The worsening state of the global economy makes 2009 a â€Å"horror show† for advertising-dependent newspaper and television companies, with some analysts predicting that businesses may have to wait until 2011 to see positive ad growth. It must be noted as well that the Egyptian economy has been gaining, thanks to the wide-ranging amendments & reforms that the country began implementing in 2004 and due to such amendments and administration of many legislative pieces the economy is expected to grow by about 4% to 6% in 2009/2010. Technological Factor: We are living the technology era, every day, a new invention, revolution or innovation strikes the market in every business, if Insight is not open to apply new operational strategies that can help to address the effects of both technological streamlining and better developing meaningful ways of generating an exchange of ideas, it won’t last before its competitors, with a daily increasing pace in the world of technology. The rise of online media presents another challenge: reliability. The internet has become the fastest and easiest way for the readers to get the type of info they claim, low-priced and as diverse as they want, and this rise is obliging the media world to give attention to online advertisement as much as or even at a higher interest that normal printed magazines. Socio-cultural Factor: A cultural change has came into the surface, with he increase of the coffee shops outings, the topics that were point of interest to readers have been changed , Insight carried out new researches to cover a broad range of topics to attract readers. Over the last 5 years, the interest in football, politics and religion ruled over many areas in life, Insight being a social lifestyle magazine it has to cope with the new interests in our society. Given that English is the language of the magazine in an Arabic speaking country; this has enlarged the difficulty of the magazine’s distribution in the Egy ptian market. Environmental Factor: Global warming that became perhaps the most complicated issue facing the world of magazine production after study showed that the carbon dioxide emissions caused by the production and distribution of one copy of an average sized 0. 39 pound magazine total about 0. 95 kilograms including paper from trees, materials, production, shipping and customer use; henceforth, the loss of natural habitat potential from the 0. 39 pound magazine is estimated to be 0. 3 square meters. This has led to a huge increase in the prices of the papers which is the most important element of the magazines industry. {draw:frame} The Small Details (SWOT ANALYSIS) SWOT Analysis is a simple but powerful framework for analyzing the magazine’s Strengths and Weaknesses, and the Opportunities and Threats it faces. Thus, helping Insight to focus on its strengths, minimize threats, and take the greatest possible advantage of opportunities available. Strengths: Insight magazine enjoys a very good image that has a business idea and credibility amongst its competitors. It has an extensive advertising and good promotions that withhold good value and quality. The magazine enjoys good cash flow through advertising which provides space for innovation and expansion. Most of Insight’s staff is between 20-25 years, at these young ages the ability to cope with new challenges of life is much more flexible than older generations and this provides the space to innovate & improve in many fields. Weakness: Any organization has its weaknesses; Insight suffers from the lack of a good distribution plan compared to its rivals. Another weakness facing Insight is the fact that the teams are self managed by junior staff which lack knowledge and experience leadership of its junior staff. Threats: Insight’s main threat is the strong competitors dominating the market and how quickly they can adapt to market changes. The inability to cope with new technologies may also lead to the magazine’s failure. Opportunities: Giving that Egypt is in a state of transition and economic growth, our good cash flow will enable us to seize any opportunity of hiring excellent calibers and adopting new technologies. {draw:frame} STRATEGY FORMULATION Strategy formulation is the process of determining appropriate courses of action for achieving the organizational objectives and thereby accomplishing organizational purpose. The strategies formulated should reflect environmental analysis previously discussed, lead to fulfillment of the mission, and result in reaching our organizational objectives. TOWS MATRIX The TOWS Matrix is a relatively simple tool for generating the strategic options, using it, will enable us to look intelligently at how Insight takes the best advantage of the opportunities open, at the same time that we minimize the impact of weaknesses and protect ourselves against threats. By analyzing the external environment (threats and opportunities), and the internal environment (weaknesses and strengths), we can use these techniques to think about our corporate, business & functional strategies. Corporate Strategy Corporate strategy is one, which decides what business the magazine should be in, and how the overall group of activities should be structured and managed, it is as well a description of the magazine's overall direction in terms of its general attitude toward growth, stability or Retrenchment and the management of its various businesses and product lines. Following the change of the external major forces as well as the declining performance of the distribution unit and the marketing department, the top management had to consider formulating an alternative strategy other than the previously followed growth strategy. A stability strategy is now the new corporate strategy followed by Insight, it is decision of doing nothing new in the worsening situation but instead to act as though Insight’s problems are only temporary, and it is an attempt to artificially support profits when sales are declining by reducing short term discretionary expenditures. Insight magazine is currently following the stability strategy as its corporate strategy knowing that it will be temporarily adopted until Insight settles its weakness in the marketing area and regains a significant position in the Egyptian market. Business Strategies In light of the ongoing economic crisis besetting the world, many business leaders had to consider just exactly how they are going to put together a winning business strategy to help overcome the hard times. Insight’s business strategy is a competitive one, it involves making the right choices in order to achieve cost leadership, differentiation and focus; this is achieved by invest our money and strategies in this area as well as coordinating properly Insight’s distinctive competencies in the provision of the service we provide. In order to sustain our competitive advantage, Insight has to determine the durability and imitability of its main distinctive resources which are the human and the financial resources. Business Model Insight serves English reading customers in Egypt by providing them with the latest lifestyle information; Insight’s Insight sustains a competitive advantage through recruitment through the strong cash flow from advertisements made by top class brands, young calibers who adapt easily with any changes in the external environment, thus allowing diversity in writing materials and articles. draw:frame} Functional Strategies Functional strategy is the approach taken by Insight’s functional departments to achieve corporate and business unit objectives and strategies by maximizing distribution. In each functional area, the manager is concerned with developing a distinctive competence to provide Insight with the competitive advantage that it aims to obtain. Marketing & Sales Strategies After 14 years Insight is still struggling and to maintain, capture larger market share, and continues market penetration. It is very hard to achieve now days especially in our case and similar to many magazines and newspapers in the region and world wide. Insight relies heavily on advertising money for revenue since the price consumers pay when they purchase a copy of the magazine has never been sufficient to cover the production costs much less creating any profit. Insight Magazine’s marketing strategy consists of market and product development as well as dealing with pricing, selling and distributing the magazine through the following: Creativity Launch new campaigns with developed layout and logo. Distribution Generate new distribution plans to cover different venues; hotels, bookshops, newsstands, supermarkets, airports, cultural centers, advertisers, numerous Egyptians and international business peoples and VIPs. Make a deal with a well known distribution agency to circulate the magazine on a wider scale on one hand, and on the other hand to put booths in many different areas and offer special gifts to people in order to attract the readers. Sales Give free issues on special occasions in order to encourage and attract customers Instead of selling space to marketers for print ads, we started selling services that marketers want to have. Diversification To focus more on topics that have overwhelmed people lately especially football. Emphasize profitable material and realign their content production costs with where the revenue is generated. A publisher will need to find the unique and defining material that attracts their readership. Go Green Despite the economic state and the rapid increase of paper prices, the Marketing head suggested to the top management to use recycled papers and environmentally friendly materials in order to save cost and maintain same quality of the product that the customer got used to and at the same time to cope with the green trend of the world. Technology & Innovation Digital marketing media and web publishing have become a very tangible area for improvement and market enlargement, Insight’s strategy for development in print media magazine world is mainly based on enriching Insight’s website, with new means of advertisements such as online purchasing of a wide range of products starting from pictures all the way to specific non published exclusive articles. HR Strategies Giving that a good human resources management practice enables organization to achieve higher profits and better survival rate than do firms without these practice, Insight’s strategies towards its most valued asset-the people had to be reviewed and amended to the following: Insight being owned and managed by a sole proprietor, have always followed a top-bottom strategy, as a new practice, the top management is now opening the door for a bottom-top strategy thus taking advantage of any new ideas, innovations and changes that can increase the magazine’s share in the Egyptian Market. Insight magazine is considering the hire of a mix of young generation, skilled reputable writers and foreign calibers as well, no matter how high they get paid. This mixture will help the different teams at Insight to properly manage themselves and thus achieving high productivity to the magazine. Encouraging the hire of part time employees and free lance writers; it will save cost since they will not be paid for health care benefits, pensions and many allowances offered to the full time employees. Promote new company traditions such as family outings, annual dinners. Improve the communication level between the top management and staff by involving employees in decisions that affect their jobs and the overall direction of the company whenever possible. Recognize excellent performance by implementing new exercises such as employee of the month, additional rewards for high performers. Promote career & personal growth perspectives such as succession planning, trainings, education, challenging, assignments and more. Assign a development team to cope with the recent technologies. Insight’s Culture & Behavior Insight enjoys a very friendly and supportive work environment, everyone is free to speak up their minds, and all new ideas are being appreciated, but giving that the top management of the magazine is being held by the owner, the last word is always up to them. This gives Insight’s a mix of Supportive and Autocratic behavior, any suggestions are being carefully interpreted but the final decision is always up to the owner. Insight’s culture is a Multi-directionalone, being a relatively small organization that has only four distinct function, each department member considers themselves as a part of his function only forgetting that they are a member of a whole body. Insight’s Organization Structure Insight’s organization was structured based on functional groups centered on clusters of titles each led by chief function officer with complete responsibility for their respective business unit as per the below chart. draw:frame} STRATEGY IMPLEMENTATION The implementation of organization strategy involves the application of the management process to obtain the desired results. Particularly, strategy implementation includes designing the organization's structure, allocating resources, developing information and decision process, and managing human resources, including such areas as the reward system, approaches to leadership, and staffing. Strategy mplementation skills are not easily mast ered, unfortunately. In fact, virtually all managers find implementation the most difficult aspect of their jobs – more difficult than strategic analysis or strategy formulation. Marketing & Sales Strategy Implementation: Implementing a rock-solid marketing strategy is probably the most important factor contributing to the long-term sustainable success of any business and the one that will set Insight ahead of its competitors. Insight’s main task is to get its message across the market, make sure that its unique selling proposition is articulated in all of its marketing messages, campaigns, and sales channels through the following implementation: HR Strategy Implementation The HR Strategy has at its core maximizing the potential talent of Insight’s staff. Each of these strategic themes are interlinked and are the strategic objectives for each of these themes facilitates the delivery of the Institutional Strategy, the Financial Strategy, enhanced organizational performance and Operational Plans. This is illustrated as follows: {draw:frame} In implementing the desired strategy of Insight to resolve the sales and distribution, The HR function have done the following: â€Å"Get the big picture â€Å" of the whole company, to provide the readers with the ultimate life experience through lifestyle magazine and becoming No. 1 magazine the Egyptian market; Recruit a mix of the young generation and skilled reputable writers and employees who receive high pay and are trained to participate in self managing teams. By implementing this strategy it will result in employee satisfaction and high productivity to the magazine. Hire part time employees and free lance writers; it will not save cost since they will not be paid for health care benefits, pensions and many allowances offered to the full time employees. Encourage diversity in nationality, and age as in aligning with the Egyptian labor law, this strategy has proven higher productivity inside the magazine. Respect employees at all times. Listen to them deeply; use their ideas. Offer performance feedback and praise good efforts and results. Involve employees in decisions that affect their jobs and the overall direction of the magazine whenever possible thus increasing the loyalty and sense of belonging to the magazine Recognize excellent performance, and especially, link pay to performance. Value and encourage the magazine traditions through events and gatherings like Family day and annual company dinner. Increase the employees’ skill by providing them with the best training opportunities to enhance their competencies and develop their skills. Outsource professional distributors in an attempt to reach the target. EVALUATION & CONTROL Although the term â€Å"monitoring and evaluation† tends to get run together as if it is only one thing, monitoring and evaluation are, in fact, two distinct sets of organizational activities, related but not identical. Monitoring is the systematic collection and analysis of information as a project progresses, aimed at improving the efficiency of organization. If done properly, it is an invaluable tool for good management that provides a useful base for evaluation. Evaluation is the comparison of actual project impacts against the agreed strategic plans. It can be formative (taking place during the life of a project or organization, with the intention of improving the strategy or way of functioning of the project or organization). It can also be summative (drawing learning from a completed project or an organization that is no longer functioning) During the planning and implementation phases, it was crucial to conduct a reporting mechanism to monitor whether the right milestones have been taken towards the targeted goals or not as well as to ensure that employees are keeping pace with the progress. This monitoring was done by Chief executives submitting a monthly report to the Chairman as well as scheduling a quarterly meeting to continually keep an eye on the sales, client feedback, foresee what could be done for improvement of any new ideas that would help in increasing the sales of upcoming editions, and finally to ensure that the business and functional levels are keeping track with the corporate objectives and goals. On the other hand, daily meetings are held in each functional department to continually monitor and evaluate work quality and business progress. After an extensive monitoring process the HR strategy was found week in the following points: No HR interview was made any manager interviews his calibers from his own aspects and cultural background. Huge cultural gaps between foreign and local employees No relatively clear difference between the full time and part time employees in term of salaries and benefits which creates unfairness and injustice among them. The rewards were not given in great value and are not fairly given to all employees. Trainings were not fairly distributed among employees. In order to evaluate the magazine performance we have found the following diagnostic checklist items: CONCLUSION Insight is a local English magazine which has been in the Egyptian market for more than a decade. Although Insight enjoys good cash revenue from the top class advertisements it provides, it is struggling with a marketing and distribution setback which gave the top management the sufficient motives to alter the current strategies followed in order to reclaim its top position in the Egyptian market. Insight’s top management first steps of creating new strategies started by setting a new mission of developing the marketing function followed by an external and internal scanning of all possible threats and opportunities that could in a way or another affect the strategies. The scanning that was done helped Insight distinguish its competitive advantage which consequently assisted in the formulation of new corporate, business and functional strategies. After implementing the previously formulated strategies precise monitoring and evaluation were done in order to conclude the gap areas that resulted in the implementation. One of the gap areas that were found was the wrong implementation of hiring foreigners without giving them a proper induction on the Egyptian culture which lead to a huge conflict in ideas between the local and foreign staff. As a final conclusion to the previous report, Insight top management should investigate what went wrong during the implementation of the HR strategy that lead such gaps and how to overcome these gaps to properly implement the functional human resources strategy that will ultimately reflect its success in Insight’s overall performance. {draw:frame}

Thursday, August 15, 2019

Louis Armstrong

Louis Armstrong (1901-1971) remains a pivotal figure in American culture nearly thirty-five years after his death.   In his twenties and thirties, he was one of jazz’s foremost innovators, elevating the instrumental solo to a new and important role and helping invent the jazz style of singing.   Later in life, he became a widely popular entertainer rather than an innovator, a sort of â€Å"living legend† who preserved the music of yesteryear and projected a friendly, comical, widely imitated persona by which he is still remembered. Louis Armstrong was born in a poor section of New Orleans on 4 August 1901 but was unaware of his actual birthdate throughout his life.   He always claimed to be born on 4 July 1900, and this was accepted as fact until researchers found a birth certificate long after Armstrong’s death (Wikipedia). Fatherless and virtually motherless (his mother was a part-time prostitute who left him in his older sister’s care), he received little schooling and worked a series of menial jobs from an early age, including delivering coal and working for a family of Jewish junk merchants.   Despite a harsh, impoverished childhood in one of New Orleans’ most crime-ridden neighborhoods, he developed the optimistic personality that many Americans recognize. His musical training began at New Orleans’ Colored Waifs Home, where Armstrong was sent in early 1913 for firing a pistol in the air during a New Year’s Eve celebration.   During his 17 months at the home, he received instruction on the cornet and later recalled, â€Å"The place was more like a health center or a boarding school than a boys’ jail,† though the home was known for its harsh, militaristic discipline (Bergreen 73). After his release, he joined the city’s fertile musical community by performing in local jazz bands under Fate Marable (who taught him his strong professional ethic) and Kid Ory, as well as on riverboats. After meeting Joseph â€Å"King† Oliver and joining his pioneering jazz band, Armstrong became an exceptionally skilled instrumentalist and traveled to Chicago with Oliver, where he began recording in 1922 and went on his own within a few years. After leaving King Oliver’s band, Armstrong’s career flourished.   Biographer Laurence Bergreen writes, †It was as though Louis had taken [jazz] out of its infancy and given it a powerful breath of new life and independence† (Bergreen 200).   He formed a series of bands, most notably the Hot Five, with whom he had numerous hits (the first being â€Å"Muskrat Ramble† in 1926) and displayed his improvisational and interpretive skills.   Though he began as a trumpeter, he began singing as well during this period, using his unconventional, gravelly voice to develop scat singing, which other jazz artists adopted. He attained especially high standing among other jazz musicians for his virtuosity and ability to translate jazz (formerly the music of New Orleans’ street parades and dives) to records.   Bergreen notes that Armstrong â€Å"was the first important jazz musician to anticipate that his legacy would be actual recordings, not half-forgotten memories† (Bergreen 219), showing a shrewd side of his personality because early jazz artists (like its supposed creator, Buddy Bolden) were never able to reach a wider audience simply through live performance. After World War II, Armstrong was no longer a cutting-edge innovator, since jazz had by now evolved away from its New Orleans roots and transformed into swing and bebop.   However, says Bergreen, Armstrong â€Å"carved himself a unique niche in the music world . . . as a newly minted traditionalist† (Bergreen 433).   He began performing not only the New Orleans â€Å"hot† jazz he helped create but also pop, blues, Tin Pan Alley, and show tunes, winning him great popularity with the public but critical scorn. According to music critic Gary Giddins, â€Å"he was excoriated for playing pop tunes, fronting a swing band, appearing with media starts, sticking to a standardized repertory, engaging in vaudeville routines . . . mugging, entertaining† (Giddins 4).   However, this second phase of his career is as important as the first, since he never lost stature among his peers, produced some vital work (especially his collaborations with Ella Fitzgerald), and won an even wider following late in life. Armstrong was largely apolitical but strongly supported the civil rights movement, having experienced the effects of segregation his entire life.   He harshly criticized Dwight Eisenhower’s perceived inaction during the 1957 Little Rock school integration crisis, called Arkansas’ segregationist governor Orval Faubus â€Å"ignorant,† and snubbed the federal government by refusing to participate in a government-sponsored tour of the Soviet Union in 1958 (Wikipedia).   His warm, effusive, laid-back personality and friendliness toward people regardless of race led some to incorrectly dub him an â€Å"Uncle Tom,† though he generally refused to make race a personal issue. Armstrong essentially left two legacies – as innovator and entertainer.   Before reaching middle age, Armstrong’s accomplishments included his helping define jazz in its earliest years, as well as making the solo an important element of modern music.   In addition, he helped define jazz vocals and popularize scat singing, long a key element of jazz. After age forty, his second legacy was his familiarity to the American public and abroad, and he cared little about how some critics dismissed him for joining the cultural mainstream.   According to Giddins, Armstrong played almost any kind of material because he knew â€Å"that no song could diminish him and that he could lift most songs beyond their earthy calling† (Giddins 4).   According to Bergreen, â€Å"He was not just America’s greatest musical performer, he was also a character of epic proportions† (Bergreen 1).   More than thirty years after his death, Louis Armstrong remains one of the most recognizable Americans, hailed as both a creator and performer more than thirty years after his death. REFERENCES Anonymous.   †Louis Armstrong.†Ã‚   Wikipedia.   4 November 2005.   . Bergreen, Laurence.   Louis Armstrong: An Extravagant Life.   New York: Broadway Books, 1997. Giddins, Gary.   Satchmo: The Genius of Louis Armstrong.   New York: Da Capo Press, 1988.      

Wednesday, August 14, 2019

Massachusetts Bay Colony

The Massachusetts Bay Colony government was able to be, at least partially, simultaneously theocratic, democratic, oligarchic, and authoritarian. It was able to be partly theocratic because of the doctrine of the covenant, which stated that the whole purpose of government was to enforce God’s laws. God’s laws applied to everyone, even nonbelievers. Everyone also had to pay taxes for the government-supported church. This meant that religious leaders held enormous power in the Massachusetts Bay Colony. They were able to effectively control who was admitted to the church by conducting public interrogations of people who claimed to have experienced conversion. The last reason it was partially theocratic was one of the main governors, John Winthrop, believed he had a â€Å"calling† from God to lead the Massachusetts colony. The Massachusetts Bay Colony was partially democratic for a couple of reasons. First, the freemen elected the governor and his associates each year. The freemen also voted for a representative assembly called the General Court. The Colony was also partly an oligarchy. It was an oligarchy because only Puritans could be freemen and were eligible to vote. Puritans were even more limited because religious leaders could control who was admitted into the church. Finally, the Massachusetts Bay Colony was partially authoritarian. This was partially because many of the residents were Puritans. Puritans shared in the â€Å"Protestant Ethic†, which involved serious commitment to work and to engagement in worldly pursuits. Everyone was held to these standards because of this. Everyone was expected to do this, even if they weren’t Puritan.

Case study Essay Example | Topics and Well Written Essays - 500 words - 18

Case study - Essay Example Finally, as analyzers, Coke continue to undertake research and scan the environment for changes in demands and customers’ needs and preferences. Porter’s framework uses the five forces: rivalry, supplier power, buyer power, threat of substitutes and threat of new entrants. Coke’s success in surpassing the performance of its competitors has been due to their continued commitment to review these five forces and determine strategies would effectively address defined threats and risks and tap existing opportunities. innovative and competitive strategies, and responding to the needs of the clientele have contributed to their leadership in a global scale. By consistently delivering high quality and affordable products, coupled with effective strategies for promotions, place, and price, Coke has sustained market profitability and assumed competitive advantage over its competitors. The most appropriate competitive strategy that would allow an organization to develop a sustainable competitive advantage is offering a product with distinct competency that is difficult to copy by competitors. For Coke, their secret formula for the classic Coke had remained confidential and no competitor could copy or closely resemble the distinct taste that made Coke number 1. For Butler, the design strategy that would provide a consistency in Coke’s brand should apply the strategies as defender, prospector and analyzer, in creating a unified design for the global market. Butler’s evaluation of the 450 brands should streamline, delete, replace and maintain only those that are clearly identifiable to Coke. A unified and consistent brand would actually minimize costs and thereby maximize revenues that would further increase Coke’s financial performance and success. The competitive strategies have been successful for Coke due to their ability to implement different strategies as deemed appropriate for the

Tuesday, August 13, 2019

Nutrition and Illness Research Paper Example | Topics and Well Written Essays - 2500 words

Nutrition and Illness - Research Paper Example The changes in dietary patterns in the population, increase in the use of tobacco and reduced engagement in physical activities have contributed to chronic illnesses, which are related to poor dietary habits. This paper gives a critical analysis on the nutrition practices of the world populations in relation to their contribution to the prevalence of chronic illnesses in addition to the implications on the nursing practice. Statement of purpose The chronic illnesses, which result from poor dietary habits, include obesity, cardiovascular diseases, diabetes mellitus, and some types of cancer, stroke, and hypertension. These illnesses are caused by the changes in dietary life styles in the population and thus leading to disability. Death would also result from these conditions when they become worse. These illnesses affect negatively on the economy because of the high health budget due the loss of human resources (Daniel et al, 2011). Scientific evidence demonstrates that nutrition plays a major role in occurrence of chronic illnesses (Sticher, Smith & Davidson, 2010). Moreover, the alteration of a persons’ diet and changes in the physical activity plays a significant role in determining whether the individual will develop the illness later in life. However, it is notable that even though research on the relationship between diet and illnesses shows a contribution to chronic illnesses, policies and practices have not be en changed to ensure a healthy society. In the developing economies, the food policies are focused on preventing under nutrition but the focus on the chronic illnesses, which are caused by poor health, is neglected. Review of the Literature The energy balance equation determines the weight of an individual. The rate at which the body spends energy determines the health of that person (Burns, Gross & Zanin, 2010). When there is more consumption of calories and fats the chances of one becoming obese increases. The possibility of being obese is facilitated by food consumption, which is not proportionate to the energy breakdown. This is what leads to energy imbalance in the body, which is the basis for chronic obesity. The lifestyles of people have been changed by civilization and urbanization. There is reduced physical activity in urban areas as compared to the rural communities in the developing nations. The energy expenditure by the body is reduced drastically in a sedentary lifestyl e. The work environment in urban centers for example makes an individual confined to the work desk. Moreover, competition among businesses has led to long working hours, which does not allow people, time to engage in physical exercise. The prevalence of obesity is greater in developed countries as compared to the developing economies. In addition, urban centers have more obese people in comparison to the rural environments. This is a result to the differences in lifestyles. In developing countries and rural communities, the lifestyles of individuals promote physical activities, which encourage consumption of energy by the body. There has been a global epidemic of obesity and overweight because of the modern lifestyles which advance storage of fat in the body. Reduced physical activity is demonstrated by the fact that people drive to work. This promotes conversion of nutrients into fat for storage. Reduced physical activities eventually lead to accumulation of fat in the body that ca uses obesity and overw