...Question 1: Explain the theoretical rationale for the NPV approach to investment appraisal and compare the strengths and weaknesses of the NPV approach to two other commonly used approaches. (30 marks) After reading the ‘Laurentian Bakeries’ case study, answer the following question: Question 2: Appraise Laurentian Bakeries’ expansion into the US frozen pizza market. (70 marks) You should answer Question 1 of this assignment in no more than 1000 words. The examiner would expect to see a detailed discussion of the theoretical rationale for the NPV rule. Note that describing the properties of NPV does not count as an explanation of the theoretical rationale. For Question 2, the examiner would be keen to find out if you have a clear understanding of the case study and the technique for calculating the NPV of a project. On the next page is a copy of the assessment sheet the examiner will use in order to arrive at a mark. You should answer Question 2 in no more than 1500 words. 1. Did the coursework demonstrate a clear understanding of the case study? (a) Were the assumptions made by the student appropriate? Assumptions on the incremental cash flows that would arise from the expansion of the operations in The US:Example:A. The market value of the site and existing building.B. Demolition costs and site clearance.D. Lost earnings on other products due to executive time spent on the new facility.G. the reduction in the corporation’s tax bill resulting from tax depreciation of the...
Words: 541 - Pages: 3
...Session 2 courses officially begin on Monday, December 9, 2014. CGA Students – CGA Program Count Down Please remember, there are now 3 sessions remaining before the CGA Program’s course completion deadline of September 2015, so we encourage you to make the most of each session: 2014-2015 Session 2 (Dec 2014 to Mar 2015)#1 Session 3 (Mar to Jun 2015) #2 Session 4 (Jun to Sept 2015) #3 **CGA Program Course Completion Deadline, Sept. 2015** Laurentian University Students Please be aware the enrolment deadline for Laurentian courses is Monday, November 17, 2014. Because Laurentian courses fill up and close very quickly (sometimes before the posted enrolment deadlines),it is crucial that you enrol as early as possible to avoid missing out on your desired course. If you are unable to enrol in your desired course and would like to be placed on the waiting list, please send your request to Cindy James. Be sure to include your name, CGA and Laurentian student ID numbers in the subject line (e.g., John Doe | CGA ID# 2240161234 | LU ID# 299991 | Waiting List for HC1 Course) Remember to Update Your Address! Before logging into the online Enrolment system, please update your current preferred shipping/mailing address. This is important to ensure that your course materials are delivered to the correct location. To update or verify your contact information: CGA Students, please go to the Student Details link found under My...
Words: 831 - Pages: 4
...Laurentian Bakeries Capital Allocation Policy Recommendation Capital Allocation Policy purpose Strategic plan Reinforce the management philosophies by achieving certain objective that all projects be consistent with business strategies, support continuous improvement, consider the human resource and environmental impact, and provide a sufficient return on investment. company background and case summary identify and quantify inefficient or lost opportunities and establish targets for their elimination Capital Allocation Policy Operating Plan identify major continuous improvement initiatives and budget for the associated benefits Capital Allocation Policy Authorization for Expenditure (AFE) present the project's linkage to the business strategies. include specific details of economic and engineering, involvement and empowerment, human resource, environment. Cost of Capital (WACC) Net Present Value Questions? Thank you! Laurentian Bakeries Inc established in 1984 manufactured a variety of frozen baked food products at plants in Winnipeg (Pizzas), Toronto (Cakes) and Montreal (Pies) In late May, 1995, Danielle Knowles, vice president of operations for Laurentian Bakeries Inc prepared a capital expenditure proposal to increase capacity in the company's frozen pizza plant in Winnipeg, Manitoba, in order to expand in the US market three year plan of capital requirements The first year of this Strategic Plan becomes the annual Operating Plan. identify major continuous improvement ...
Words: 1221 - Pages: 5
...Laurentian Bakeries Case Study Cases in Financial Management Case Synopsis Founded in 1984 Laurentian Bakeries Inc. operates in the industry of manufacturing a vast variety of frozen baked products within their three operating plants in Montreal, Winnipeg and Toronto. The operating plants produce items such as frozen pizza in Winnipeg, MB, pies in Montreal, QC and Cakes in Toronto, ON- with each representing 30%, 30% and 40% of the total revenue stream respectively. The buyers for this company include large institutional clients such domino’s pizza, etc. which have a significantly higher level of power whereas the seller of the products consists of several food producers which have a relatively low level of power. With the cost of setting up a plant of this scale being high, substitute products will also remain high in the market causing the overall profit margin to be low. With the company’s ongoing effort for continuous improvement Danielle Knowles (VP of operations) proposed to expand one of the operating plants in Winnipeg-which was based on the opportunity if the company expanded into the U.S. market. Statement The statement of the problem is how Danielle Knowles will prepare a capital project expenditure proposal to expand the company’s frozen pizza plant in Winnipeg; which is consistent and in line with the company’s capital allocation policy. The proposal should also satisfy the company’s continuous effort for improvement, identification of lost...
Words: 1525 - Pages: 7
...LAURENTIAN BAKERIES The decision-maker must make a recommendation on a large expansion project. Discounted cash flow analysis is required. In addition to the assumptions and scenarios in the case, assume that, due to increased competition, the U.S grocery chain can only guarantee 33% of the increased sales unless they receive a $0.20 per pizza reduction in price. With this deduction, they will be able to guarantee 50% of the original increased sales. Should you reduce the price? Explain. In late May, 1995, Danielle Knowles, vice-president of operations for Laurentian Bakeries Inc., was preparing a capital expenditure proposal to expand the company’s frozen pizza plant in Winnipeg Manitoba. If the opportunity to expand into the U.S. frozen pizza market was taken, the company would need extra capacity. A detailed analysis, including a net present value calculation, was required by the company’s Capital Allocation Policy for all capital expenditures in order to ensure that projects were both profitable and consistent with corporate strategies. COMPANY BACKGROUHD Established in 1984, Laurentian Bakeries Inc. (Laurentian) manufactured a variety of frozen baked food products at plants in Winnipeg (pizzas), Toronto (cakes) and Montreal (pies). While each plant operated as a profit center, they shared a common sales force located at the company’ head office in Montreal. Although the Toronto plant was responsible for over 40% of corporate revenues in fiscal 1994, and the other...
Words: 3162 - Pages: 13
...Without the prominence of North American entrepreneurs throughout the 19th century, our current lives would be drastically different. Over the past decades, contributions made from entrepreneurs affiliated with the lumber and timber industry have changed the daily operations of modern society. Specifically the North American entrepreneurs, John R. Booth and Frederick Weyerhaeuser, have impacted these industries and benefitted the business economy as a whole. These well-known characters both mastered techniques of the lumber industry throughout their business career and have earned their title as the “Lumber King”. Although Booth and Weyerhaeuser contributed to the economy around the same time frame, they worked in separate countries and not in collaboration with each other. Many did not realize how big of an opportunity the lumber industry in the 19th century was, whereas Booth and Weyerhaeuser made sure to take advantage it. While these two influential individuals were raised differently and experienced incomparable life events, they both attain similar characteristics that helped them achieve their success. Firstly, John R. Booth and Frederick Weyerhaeuser were both raised in an environment where the importance of work was stressed which evidently led to the introduction of their careers at a young age. Both living in religious households, Weyerhaeuser was Protestant his entire life while Booth was Presbyterian. Even though Weyerhaeuser was born and raised in Germany and Booth...
Words: 1694 - Pages: 7
...S w 9B04C013 Ebrahim El Kalza prepared this case under the supervision of Professor James A. Erskine solely to provide material for class discussion. The authors do not intend to illustrate either effective or ineffective handling of a managerial situation. The authors may have disguised certain names and other identifying information to protect confidentiality. Ivey Management Services prohibits any form of reproduction, storage or transmittal without its written permission. Reproduction of this material is not covered under authorization by any reproduction rights organization. To order copies or request permission to reproduce materials, contact Ivey Publishing, Ivey Management Services, c/o Richard Ivey School of Business, The University of Western Ontario, London, Ontario, Canada, N6A 3K7; phone (519) 661-3208; fax (519) 661-3882; e-mail cases@ivey.uwo.ca. Copyright © 2004, Ivey Management Services Version: (A) 2009-10-07 That’s not at the Matthews standard! You’re going to have to perform at a higher level if you want to work here! Summer Associate Moez Kassam slowly rubbed his temples as his senior manager, Sherif Mahfouz, at Matthews Management Consulting stormed out of the client office they shared. It was early August 2003, and Kassam had been in Abu Dhabi for only two weeks. Already his dream assignment was becoming a nightmare. He felt he could do no right, and was beginning to lose confidence in his abilities. This was the third time he had...
Words: 4863 - Pages: 20
...Michelangelo perfected different areas of art which he displayed in his architecture. He started to develop a new style of architecture that did not align with the Renaissance standards (radford.edu). He also introduced the idea of architecture as an embodying movement. Although there are only bits of it seen in the statue of David, there is also something that signals the beginning of a change away from the ideals of Renaissance to a new type of art (radford.edu). Michelangelo made the movement about the quality in movement and power, rather than beauty, as the new ideal. Michelangelo believed this incomplete form was the sign of the organic quality of the living thing (radford.edu). His architecture makes us feel that the forces of the...
Words: 297 - Pages: 2
...Italian Leonardo da Vinci. A number of Michelangelo's works in painting, sculpture, and architecture rank among the most famous in existence.[1] His output in every field of interest was prodigious; given the sheer volume of surviving correspondence, sketches, and reminiscences taken into account, he is the best-documented artist of the 16th century. Two of his best-known works, the Pietà and David, were sculpted before the age of thirty. Despite his low opinion of painting, Michelangelo also created two of the most influentialfrescoes in the history of Western art: the scenes from Genesis on the ceiling of the Sistine Chapel in Rome, and The Last Judgment on its altar wall. As an architect, Michelangelo pioneered the Mannerist style at the Laurentian Library. At the age of 74, he succeeded Antonio da Sangallo the Younger as the architect of St. Peter's Basilica. Michelangelo transformed the plan, the western end being finished to Michelangelo's design, the dome being completed after his death with some modification. In a demonstration of Michelangelo's unique standing, he was the first Western artist whose biography was published while he was alive.[2] Two biographies were published of him during his lifetime; one of them, by Giorgio Vasari, proposed that he was the pinnacle of...
Words: 331 - Pages: 2
...Critique of Nursing Research: Family Perspectives of Overall Intensive Care Unit Experience Shelby J. Hall St. Lawrence College/Laurentian University Family Perspectives of Overall Intensive Care Unit Experience Introduction Hospitalization in an intensive care unit (ICU) poses collective uncertainty to nurses, family members and patients (Maxwell, Stuenkel & Saylor, 2007). Within this paper salient aspects focus to understand: What are family/friend experiences during hospitalization in the ICU? The significance to this topic is to identify care needs and gain understanding of quality improvement measures ICU’s can take to enhance holistic patient and family/friend care. A symbiotic relationship of family involvement and feedback...
Words: 1488 - Pages: 6
...be the greatest living artist during his lifetime, he has since also been described as one of the greatest artist of all time. A number of Michelangelo’s work in painting, sculpture and architecture rank among the most famous in existence. His output in every field o interest was prodigious. Two of his best-known works are the PIETA and DAVID, it were sculpted before the age of thirty. 2. What are the major contributions of Michelangelo during his time? Name them. Michelangelo created two of the most influential works in fresco in the history of western art: the scenes from the genesis on ceiling and The Last Judgment on the altar wall of the Sistine chapel in Rome. As an architect, Michelangelo pioneered the mannerist style at the Laurentian Library. At 74 he succeeded Antonio da Sangallo the younger as the architect of the Saint Peter’s basilica. Michelangelo transformed the plan, the western end being finished to Michelangelo’s design, the dome being completed after his death with some modification. 3. What is the most commonality of his paintings to the paintings of Leonardo Da Vinci and Raphael? What is distinctive about their artworks? Leonardo da Vinci, Michelangelo and Raphael are three of the greatest artists in history. But they were also people with ideas and visions that reached far beyond the world of art. They were also bitter rivals, competing for both commissions and fame. All three became immortal. Commonalities in their painting were that all of them paint...
Words: 415 - Pages: 2
...* British Colubmia University of British Columbia (Kelowna Campus) * Capilano University * Douglas College * Emily Carr University * Kwantlen Polytechnic University * College of New Caledonia * North Island College * Okanagan College * Selkirk College * Thompson Rivers University * Vancouver Community College * Vancouver Island University * University of Victoria * * Manitoba Brandon University * University of Manitoba (UMSU) * University of Manitoba (GSA) * Université St. Boniface * University of Winnipeg * * Ontario Algoma University * Brock University * Carleton University * La Cité collegiale * George Brown College * Lakehead University * Laurentian University * Nipissing University * Ontario College of Art and Design * Université d'Ottawa (SFUO) * Université d'Ottawa (GSA) * Queen's University (Destinations) * Queen's University (SGPS) * Ryerson University * Saint Paul University * Seneca College (International Education Dept.) * University of Toronto (UTSU) * University of Toronto (GSU) * University of Toronto (UTMSU) * Trent University * University of Western Ontario (SOGS) * Wilfrid Laurier University (GSA) * University of Windsor (UWSA) * University of Windsor (GSS) * York University (Glendon College) * York University (GSA) * York University (YFS) * * Québec Concordia University * Dawson College * * New Brunswick Mount Allison University * Université de Moncton * University of New Brunswick (Fredericton GSA) * ...
Words: 356 - Pages: 2
...Introduction Students attending post secondary tend to take their education seriously, making sure they have all the academics required so they can finish their school on time. Many rely on student advisors for assistance; they provide them with the necessary steps they need to finish their degree. The purpose of this paper is to provide evidence from the CNSA and Mabel, a student at the CNSA and how Mabel was provided with misrepresented information. If there was negligence and if fiduciary duty was required by the student advisor, Ima. Purpose is to convey how misrepresentation can mislead and cause damages and how negligence can occur even when it wasn’t attended. Mable Hardluck is the plaintiff and CNSA are the defendants in this case. Mabel has to waste another year finishing her courses and took courses that were irrelevant. Mabel wants to reclaim her tuition from CNSA so she could pay for the qualifying year at USNA. She is seeking damages and will portray how tort of negligence was violated and was provided with misrepresentation of information. Duty of care should be owed to every student that turns to an advisor for guidance, students can’t afford to be misrepresented and have advisors be negligent when providing them with information. Synopsis Negligent misrepresentation The advisor should have known before providing the student with information, even if Ima was mistaken and believed it was true, negligence was still characterized by the advisor...
Words: 1825 - Pages: 8
...Michelangelo - Art History Handout 1. When was he born – when did he die? - Born: 6th March 1475 in a small village called Caprese, Italy - Died: 18th February 1564 ( Age of 88 )in Rome 2. Biography - He considered himself a “ Son of Florence” although he never lived there - Michelangelo travelled between Rome and Florence because he had a lot of work in both cities - He worked as a sculptor, architect, painter, engineer and as a poet - Michelangelo always looked for the “perfect” stone because he wanted it to have the basic form of his sculpture 3. The Sistine Chapel Ceiling - April 1508 Michelangelo was summoned to Rome by Julius II - He had a new task, to draw 15 figures of Apostles and some decoration on the ceiling of the Sistine Chapel - Some of the themes were: Adam and Eve, The creation of the world, The Final Judgment - => It is basically the story of the Bible - He was a sculptor and at the beginning he tried to cancel his oncoming work because he had to master the art of fresco - May 1508 he started to make the preparatory designs - Assistants: Giuliano Bugiardini, Aristotele da Sangallo and his old friend Francesco Granacci along with a number of laborers - His work did not proceed as his master wished and between the end of 1508 and January 1509 He fired his assistants and continued on his own - He worked till 31st October 1512 - Michelangelo has a very unique style because he is a sculptor, he concentrates on the right proportions...
Words: 557 - Pages: 3
...COMPAIRING ARTISTIC PERIODS RENAISSANCE ART AND MANNERISM ART WESTERN GOVERNORS UNIVERSITY IWT1 TASK1 COMPARING ARTISTIC PERIODS The Renaissance period was from roughly the 14th century to the 17th century of the common era (CE) beginning in Italy later spreading throughout Europe. The word Renaissance comes from the original Italian word "Rinascimento" or "rinascere" which means "to be reborn" according to Harper (2012). The influence of the Renaissance movement can be observed in art, music, science, religion, politics, philosophy, literature, as well as other areas of intellectual inquiry. The Renaissance brought about a way of thinking focused on the bettering the person and having a well rounded and educated person in all aspects of the humanities as mentioned earlier. One theory as to the reason for this shift was the devastation brought on by the "Black Death" or Plague causing people to think more about their lives on Earth, as opposed to the afterlife or their spirituality (Wikipedia 2012). One distinguishing trait of Renaissance art is development and use of realistic perspective in paintings and renderings which more closely resemble how a natural scene or surroundings appeared. One such painting that demonstrates this perspective is "The San Zaccaria Altarpiece" by Giovanni Bellini (WGA, 2012 / Struth, 1995). The arch vaults and floor show a realistic perspective of how the Madonna and Saints may have actually appeared. Each of the characters within this painting...
Words: 771 - Pages: 4
