...Case Study: Expansion and Risk at Hansson Private Label, Inc.: Evaluating Investment in the Goliath Facility Company Background Hansson Private Label, Inc (HPL) is a private company in the business of manufacturing personal care products for retail partners. The company started its business in 1992 via the acquisition of manufacturing assets from Simon Health and Beauty Products by US$ 42 million. The US$ 25 million equity portion in the acquisition deal was a demonstration of the level of entrepreneurism of Mr. Hansson, the business owner. According to Mr. Hansson´s evaluation, the acquisition was risky because of the concentration of his wealth in one single investment. But he also believed that the assets were purchased by less than its replacement value. During its first 15 years the Company focused on efficiency, cost control and customer relation, being able to expand its business nationwide and grow its revenues to $ 681 million in 2007 (28% market share from national consumption of $ 21.6 billion). But during the period 2004-2007 the market share by volume was stable, averaging a yearly growth rate of 1% while the market share by dollar sales averaged 1.7% yearly growth. The 0.7% gap would represent the average yearly inflation for the industry. The Company currently has four plants operating above 90% capacity. Expansion has always been approached conservatively and all new operations always commenced with a minimum 60% capacity utilization. Industry Overview ...
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...Questions for Case studies Ceres Gardening Company Management related questions: 1. What have been the key factors in company’s growth? 2. How has the stock market responded to the company’s performance? Why? 3. What should Ceres’s strategic plan be, given the trends in the organic gardening market? 4. How would you evaluate Ceres’s marketing efforts? Should the GetCeres ™ program be expanded? Why or why not/ 5. What potential financial risks does Ceres face as it crafts its strategy for 2007? 6. If you were the CFO, how would you approach the issue of crafting a marketing plan for 2007? Financial analysis 1. How has the company grown? What is its basic strategy and how has this evolved? 2. Is Ceres financially healthy? What parts of the financial statement might be a reason for confidence or cause of concern? Blaine Kitchenware, Inc. 1. Do you believe Blaine’s current capital structure and payout policies are appropriate? Why or why not? 2. Should Dubinski recommend a large share repurchase to Blaine’s board? What are the primary advantages and disadvantages of such a move? 3. Consider the following share repurchase proposal: Blaine will use $209 million of cash from its balance sheet and $50 million in new debt-bearing interest at the rate of 6.75% to repurchase 14.0 million shares at a price of $18.50 per share. How would such a buyback affect Blaine? Consider the impact on, among other things, BKI’s EPS, ROE, its interest...
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...* Skip to Navigation * Skip to Content TermPaperWarehouse.com - Free Term Papers, Essays and Research Documents The Research Paper Factory * Join * Search * Browse * Saved Papers ------------------------------------------------- Top of Form Search Bottom of Form * Home page » * Business and Management Private Fitness Llc In: Business and Management Private Fitness Llc PRIVATE FITNESS, LLC Background/Issues and Concern: • Acts of Kate with regards to the theft • Rosemary and Kate are long-time friend • Rosemary wanted to increase her standard of hiring by capitalizing on her reputation and knowledge in the growing fitness field and to have more time to spend with her two young children • Rosemary wants to protect her assets Problem Statement: How should Rosemary address her prolem with regards to the situation with Kate as well as in protecting her assets? Point of View: Rosemary Worth, the owner of the Private Fitness, LLC Objectives: 1. to strengthen the controls of the business 2. to eliminate theft and any other kind of fraud which can harm the entity 3. to operate and earn revenues effectively and efficiently Areas of Consideration: 1. The market of their business 2. The acts of Kate 3. The goal of Rosemary 4. Protection of assets 5. Rosemary’s situation Alternative Courses of Action: 1. Fire Kate and hire one of the remaining instructors as a manager Advantages: • Possible thief will...
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...develop an appreciation for the usefulness of these theories for financial decision-making, • to develop the student's financial decision-making skills, • to provide an overview of current financial management theories and practices. Text Required: Corporate Finance by Ross, Westerfield and Jaffe, 9th ed., McGraw-Hill Irwin Supplemental: Financial Management, Concepts and Applications, 3rd ed., 1995, Ramesh K.S. Rao, SouthWestern Publishing Co., Cincinnati, a division of International Thompson. The required chapters will be made available to you (Blackboard and the readings package). Course Structure and Grading The course consists of lectures, homework assignments (not graded), class case discussions, a team-based take-home case final, and four in-class exams. Lectures: The lectures are designed to provide an understanding of the major elements of finance. The emphasis is...
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...Case Study: Expansion and Risk at Hansson Private Label, Inc.: Evaluating Investment in the Goliath Facility Final Project by Rodrigo Montechiari Company´s Business Operations, Strategy and Past Performance HPL is a manufacturer of personal care products for retail partners. Its strategy has always been to focus on efficiency, cost control and customer relation to guarantee solid revenue grows until 2007. Expansions have always been carefully analyzed and the Company never worked below 60% capacity utilization. HPL has been able to grow its revenues to $ 681 million in 2007 accounting for 28% of national consumption but the Company is working close to maximum capacity. On the other way, its performance on units sold is growing only at 1% per year and, since capacity utilization averages 90%, there is no room for further increase in revenues if not through expansion to a new facility. The Business Opportunity Facing four years of low growth rates and fierce competition, HPL has the opportunity to expand its production and increase its margins by signing a 3 years term contract with its biggest Client on the personal care products line. The opportunity has its risks. An initial investment of USD 45 million will be necessary and the Client, who is already HPL biggest one, only commits to a 3 year term contract. In addition, the necessary investment would double HPL debit and significantly increase its financial leverage. Consequently, any financial distress form the client would...
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...Growing in Motion: The Circulation of Used Things on Second‐hand Markets1 By Staffan Appelgren & Anna Bohlin Abstract From having been associated with poverty and low status, the commerce with second-hand goods in retro shops, flea markets, vintage boutiques and trade via Internet is expanding in Sweden as in many countries in the Global North. This article argues that a significant aspect of the recent interest in second-hand and reuse concerns the meaningfulness of circulation in social life. Using classic anthropological theory on how the circulation of material culture generates sociality, it focuses on how second-hand things are transformed by their circulation. Rather than merely having cultural biographies, second-hand things are reconfigured through their shifts between different social contexts in a process that here is understood as a form of growing. Similar to that of an organism, this growth is continuous, irreversible and dependent on forces both internal and external to it. What emerges is a category of things that combine elements of both commodities and gifts, as these have been theorized within anthropology. While first cycle commodities are purified of their sociality, the hybrid second-hand thing derives its ontological status as well as social and commercial value precisely from retaining ‘gift qualities’, produced by its circulation. Keywords: Second-hand, circulation, material culture, retro, vintage, growing, gifts, commodities Appelgren...
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...HUMAN RESOURCE COSTING AND ACCOUNTING VERSUS THE BALANCED SCORECARD: A LITERATURE SURVEY OF EXPERIENCE WITH THE CONCEPTS1 Ulf Johanson, Gunilla Eklöv, Mikael Holmgren, Maria Mårtensson2 6FKRRO RI %XVLQHVV 6WRFNKROP 8QLYHUVLW\ à Uurà rrà wrpà và rà sà rr hyà i wrpà và urà H@SDUVHà Hrh vtà Dhtviyrà à Vqr hqà hq D rÃDhvà Hhhtrrà wrpà Uurà hvà sà urà H@SDUVHà wrpà và à vrvthrà vivyvvrà à rh r hqà r à vhtviyrà 6à urà rrà vrà vrà vr vvrà hqà rrh puà vvrà và và @ rhà p vr 9rh xÃAvyhqà A hprà I hà Thvà hqà Trqrà h rà h vpvhvtà và urà wrpà 6h à s à svhpvhyà s ÃurÃ@ rhÃ8vvÃsqvtÃsÃurÃTrqvuÃqvrÃh rÃihvrqÃs ÃurÃP@89ÃurÃTrqvuÃ8pvyÃs X xÃGvsrÃSrrh puÃIrxÃurÃTrqvuÃHvv ÃsÃU hqrÃhqÃDq ÃhqÃurÃTrqvuÃQiyvpÃSryhvÃ6pvhv 6Ãs r Ãr vÃsÃuvÃhr ÃhÃqryvr rqÃÃurÃP@89Ãvà ((' ÃUurÃhu ÃhÃÃuhxÃGrÃTuhÃhqÃHhvÃTxtÃs ÃvtvsvphÃp vivÃÃurà rrÃhr +XPDQ 5HVRXUFH &RVWLQJ DQG $FFRXQWLQJ YV WKH %DODQFHG 6FRUHFDUG $%675$&7 In the present paper conclusions are drawn from literature whose goal was to put information on intangibles into financial and non-financial frameworks. The analysis primarily focuses on two concepts: The human resource management oriented concept called Human...
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...University, Lund, Sweden, and Standardised approach to the world 199 ˚ Asa Thelander Department of Communication Studies, Lund University, Helsingborg, Sweden Abstract Purpose – The purpose of this paper is to analyse the marketing strategy in China of the furnishing retailer IKEA in the context of standardisation and adaptation of marketing activities. IKEA’s strategy in China is compared to its corporate strategy throughout the rest of the world. Design/methodology/approach – The four P classifications are used as a framework to compare the central marketing strategies of IKEA with marketing strategies used in China. The paper builds on both primary and secondary data. Interviews with senior managers at IKEA are conducted and studies on business and retailing in China are used. Findings – The marketing strategies used by IKEA in China are found to be different from the standardised strategies it uses throughout the rest of the world. Several of the changed strategies are central to the business concept of IKEA. Research limitations/implications – The present paper shows the challenges for a standardised marketing concept and its implications. Originality/value – The paper provides, in the context of the standardisation and adaptation of marketing activities, a more nuanced and up-to-date picture of the strategies used by IKEA compared to previous studies. Keywords Retail management, Marketing strategy, Standardization, China Paper type Research paper 1. Introduction...
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...Industry Competition 3 Chapter Outline 3-1 Industry Life Cycle Stages 3-2 Industry Structure 3-3 Intensity of Rivalry among Incumbent Firms 3-3a Concentration of Competitors 3-3b High Fixed or Storage Costs 3-3c Slow Industry Growth 3-3d Lack of Differentiation or Low Switching Costs 3-3e Capacity Augmented in Large Increments 3-3f Diversity of Competitors 3-3g High Strategic Stakes 3-3h High Exit Barriers 3-4 Threat of Entry 3-4a Economies of Scale 3-4b Brand Identity and Product Differentiation 3-4c Capital Requirements 3-4d Switching Costs 3-4e Access to Distribution Channels 3-4f Cost Advantages Independent of Size 3-4g Government Policy 3-5 Pressure from Substitute Products 3-6 Bargaining Power of Buyers 3-7 Bargaining Power of Suppliers 3-8 Limitations of Porter’s Five Forces Model 3-9 Summary Key Terms Review Questions and Exercises Practice Quiz Notes Reading 3-1 26061_03_ch03_p037-060.indd 37 1/10/08 7:01:36 PM 38 Chapter 3 T Industry A group of competitors that produce similar products or services. 26061_03_ch03_p037-060.indd 38 his chapter marks the beginning of the strategic management process and is one of two that considers the external environment. At this point it is appropriate to focus on factors external to the organization and to view firm performance from an industrial organization perspective. Internal factors are considered later in the process and in future chapters. Each business operates...
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...SCaring for Kids After Trauma, Disaster and Death: A GUIDE FOR PARENTS AND PROFESSIONALS SECOND EDITION The New York University Child Study Center is dedicated to the understanding, prevention and treatment of child and adolescent mental health problems. The Center offers expert psychiatric services for and intervention. The Center’s mission is to bridge training supported by the resources of the worldclass New York University School of Medicine. children and families with emphasis on early diagnosis the gap between science and practice, integrating the finest research with patient care and state-of-the-art For more information, visit www.AboutOurKids.org. Changing the Face of Child Mental Health Caring for Kids After Trauma, Disaster and Death: A GUIDE FOR PARENTS AND PROFESSIONALS SECOND EDITION DEVELOPED BY: The faculty and staff of the New York University Child Study Center Harold S. Koplewicz, M.D., Director & Founder Marylene Cloitre, Ph.D., Director of the Institute for Trauma and Stress REVISED SEPTEMBER 2006 under the direction of Joel McClough, Ph.D., Director of the Families Forward Program, Institute for Trauma and Stress by Anita Gurian, Ph.D. Dimitra Kamboukos, Ph.D. Eva Levine, Ph.D. Michelle Pearlman, Ph.D. Ronny Wasser, B.A. Permission is granted for reproduction of this document by parents and professionals © 2006 1 C A R I N G F O R K I D S A F T E R T R A U M A , D I S A S T E R A N D D E A T H ...
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...Philosophy and Design Pieter E. Vermaas • Peter Kroes Andrew Light • Steven A. Moore Philosophy and Design From Engineering to Architecture Pieter E. Vermaas Delft University of Technology Delft the Netherlands Andrew Light University of Washington Seattle USA Peter Kroes Delft University of Technology Delft the Netherlands Steven A. Moore University of Texas Austin USA ISBN 978-1-4020-6590-3 e-ISBN 978-1-4020-6591-0 Library of Congress Control Number: 2007937486 © 2008 Springer Science + Business Media B.V. No part of this work may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, microfilming, recording or otherwise, without written permission from the Publisher, with the exception of any material supplied specifically for the purpose of being entered and executed on a computer system, for exclusive use by the purchaser of the work. Printed on acid-free paper. 9 8 7 6 5 4 3 2 1 springer.com Contents List of Contributors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Design in Engineering and Architecture: Towards an Integrated Philosophical Understanding . . . . . . . . . . . . . . . . . Peter Kroes, Andrew Light, Steven A. Moore, and Pieter E. Vermaas Part I Engineering Design ix 1 Design, Use, and the Physical and Intentional Aspects of Technical Artifacts. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ...
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...This page intentionally left blank Introductory Econometrics for Finance SECOND EDITION This best-selling textbook addresses the need for an introduction to econometrics specifically written for finance students. It includes examples and case studies which finance students will recognise and relate to. This new edition builds on the successful data- and problem-driven approach of the first edition, giving students the skills to estimate and interpret models while developing an intuitive grasp of underlying theoretical concepts. Key features: ● Thoroughly revised and updated, including two new chapters on ● ● ● ● ● ● panel data and limited dependent variable models Problem-solving approach assumes no prior knowledge of econometrics emphasising intuition rather than formulae, giving students the skills and confidence to estimate and interpret models Detailed examples and case studies from finance show students how techniques are applied in real research Sample instructions and output from the popular computer package EViews enable students to implement models themselves and understand how to interpret results Gives advice on planning and executing a project in empirical finance, preparing students for using econometrics in practice Covers important modern topics such as time-series forecasting, volatility modelling, switching models and simulation methods Thoroughly class-tested in leading finance schools Chris Brooks is Professor of Finance at the ICMA Centre, University...
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...This page intentionally left blank Introductory Econometrics for Finance SECOND EDITION This best-selling textbook addresses the need for an introduction to econometrics specifically written for finance students. It includes examples and case studies which finance students will recognise and relate to. This new edition builds on the successful data- and problem-driven approach of the first edition, giving students the skills to estimate and interpret models while developing an intuitive grasp of underlying theoretical concepts. Key features: ● Thoroughly revised and updated, including two new chapters on ● ● ● ● ● ● panel data and limited dependent variable models Problem-solving approach assumes no prior knowledge of econometrics emphasising intuition rather than formulae, giving students the skills and confidence to estimate and interpret models Detailed examples and case studies from finance show students how techniques are applied in real research Sample instructions and output from the popular computer package EViews enable students to implement models themselves and understand how to interpret results Gives advice on planning and executing a project in empirical finance, preparing students for using econometrics in practice Covers important modern topics such as time-series forecasting, volatility modelling, switching models and simulation methods Thoroughly class-tested in leading finance schools Chris Brooks is Professor of Finance...
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