... 2 2. Issue Identification 3 3. Environmental and Root Case Analysis 4 4. Alternatives and Options 6 5. Recommendations 10 6. Implementation 11 7. Monitor and Control 14 8. Appendix 17 1. Executive Summary This report provides an analysis on the company Pan Europa Foods and gives insight into the strategies and projects that the company should complete to get out of the current situation it faces. Pan Europa Foods is facing financial trouble because a long use of debt financing, product issues when faced with outdated production lines and factories as well as failed new products. Their business environment isn’t helping either with sales becoming saturated and population growth slowing down. When looking at alternatives Pan Europa Foods uses two financial tests IRR and payback period to decide on projects. The company is also unsure about high risk projects and usually turns them down. When looking at the...
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...Strategically, what must Pan-Europa do to keep from becoming the victim of a hostile takeover? What rows/categories in Exhibit 2 will become critically important in 1993? What should Pan-Europa do now that they have won the price war? Who should lead the way for Pan-Europa? Pan-Europa’s ball and chain is its debt. With a debt-to-equity ratio of 125%, the company is leveraged more than its competitors. Pan-Europa’s bankers have become unwilling to provide additional credit, which is unfavorable if conditions call for the purchase of a large block of common stock to prevent a hostile takeover. As a preventative measure, Pan-Europa must bolster shareholder confidence by continuing to pay the dividend and driving up earnings, which should drive stock price up. Showing annual revenue growth through wise capital investment is crucial in 1993. Exhibit 2 below shows the company’s flat trend in gross sales, declining net income and earnings per share. Clearly these are signs of an overleveraged organization. Investment firms are already recommending selling Pan-Europa stock, driving the market price down. Fiscal Year Ending December 31 | | 1990 | 1991 | 1992 | Gross sales | 1,076 | 1,072 | 1,074 | Net income | 51 | 49 | 37 | Earnings per share | 0.75 | 0.72 | 0.54 | Dividends | 20 | 20 | 20 | Total assets | 477 | 580 | 656 | Shareholders' equity (book value) | 182 | 206 | 235 | Shareholders' equity (market value) | 453 | 400 | 229 | To remedy this situation, Pan-Europa must leverage...
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...| Pan-Europa Foods Corporate Strategy Analysis Prathibha Vemulapalli Cleary University 1. Pan-Europa should not cut the dividends as it might signal a lack of faith in future to its investors and shareholders. Selling new stocks at the current low price to raise the capital is also a bad idea that can potentially put the shareholders in dilemma. They must improve the performance to make the investors come forward to invest in the business. They should concentrate in decreasing the capital spending and increasing the stock price and should decrease their debt by avoiding over spending. They should not increase their assets by debt financing as their debt –to-equity ratio is extremely high after the price war thus making them highly leveraged. Fabienne Morin and Nigel Humbolt should be leading these strategic improvement projects since they encouraged growth and increased market share. 2. While we have three different ways to calculate NPV from the exhibit, NPV at the minimum accepted Rate of Return includes a risk premium so it stays constant even with varying project durations. WACC on the other hand has difficulties in maintaining the capital structure therefore Equivalent Annuity should be used in this case. The order of the projects would be 1. Strategic Acquisition 2. Eastward Expansion 3. Snack Foods 4. Southward Expansion 5. Inventory Control System 6. Artificial Sweeteners 7. New Plant 8. Expanded Plant 9. Automation and Conveyor System 10...
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...IS 7060: PROJECT MANAGEMENT Assignment 2 Pan-Europa Case Bharath Sivaraman Noel Anson Rohit Sivadas Sriram Ravisankar Considering the market foothold of PanEuropa Foods, a multinational producer of high-quality ice cream, yogurt, bottled water, and fruit juices, compelling projects had to be chosen from a range of project proposals to help the firm reach its capital budget for the new year. The budget available for investing was limited to ECU80 million but the 11 major projects up for consideration totaled over (European Currency Unit) ECU208 million. Out of the 11 proposals, we decided to go consider only 10, excluding the Effluent Treatment Program, an environmentally oriented project with no returns and addition to the existing plant. But, if the budget permits, after considering the other projects, we could include it later after weighing its merits. Firstly, we identified some projects, which strategically seem like a good fit for the company’s goals: a. Market expansion towards eastward Sales b. Strategic acquisition Strategic Planning c. Inventory control Distribution d. Snack foods Marketing e. Artificial sweetener Marketing f. Automation and conveyor system Production The idea behind the selection of these projects was the diversity of the fields they cover. For example, even if the distribution does not produce the desired results, the sales and marketing might still improve and compensate. Market expansion towards eastward- The eastern market has a great appetite...
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...Index: |Sr. No. |Topics |Page No.s | | |CRM and CRM in Service Industry |02 | |McDonald’s: | | |Introduction |03 | | |Mcdonald’s in India |04 | | |Values and Principles |05 | | |History |06 | | |Products |09 | | |Background – The McDonald’s Story |11 | | |Organizational structures ...
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...CLASS 1.1 Important concepts Entities – tax versus legal • Tax entities o People, partnerships, joint venture, companies … are considered to be entities for the purposes of calculating income tax. • Legal entities o Companies, which have separate legal personalities, are legal entities. Income flows • Income should be considered as a cash flow stream, where timing is important. • The question is, when the income recognised as earned or deducted (because tax delayed is tax denied)? CLASS 1.2 Patterns of taxation Income tax • Income tax is a progressive system. • Income tax is mainly a rich person’s tax once franking credits are taken into account to produce an “effective tax rate”. • Wealthy people pay less tax overall by reducing their tax burden through using the lower rate paid on capital gains and other tax minimisation schemes. • Total tax as a percentage of GDP is lower in Australia compared to many other countries across the world. However, these results must be considered in light of the high level of income (where it may not be as much of a burden to pay high taxes where there is high income) and quality of public goods provided in counties such as Sweden (which has the highest total tax rate as a percentage of GDP). Justifications for taxation Why do we need taxes? • Public goods argument: the government can provide some benefits to society better than anyone else. Examples include defence, and law and order. • Market failure...
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...SEVENTH EDITION PROJECT MANAGEMENT A Managerial Approach SEVENTH EDITION PROJECT MANAGEMENT A Managerial Approach Jack R. Meredith Broyhill Distinguished Scholar and Chair in Operations Wake Forest University Samuel J. Mantel, Jr. Joseph S. Stern Professor Emeritus of Operations Management University of Cincinnati John Wiley & Sons, Inc. DeDication To Avery and Mitchell, from “papajack.” J. R. M. To Maggie and Patty for their help, support, and affection. S. J. M. VICE PRESIDENT & EXECUTIVE PUBLISHER Don Fowley EXECUTIVE EDITOR Beth Golub ASSOCIATE EDITOR Jen Devine MARKETING MANAGER Carly DeCandia DESIGN DIRECTOR Harry Nolan SENIOR DESIGNER Kevin Murphy SENIOR PRODUCTION EDITOR Patricia McFadden SENIOR MEDIA EDITOR Lauren Sapira PRODUCTION MANAGEMENT SERVICES Ingrao Associates This book was set in by GGS Book Services PMG and printed and bound by RRD/Willard. The cover was printed by RRD/Willard. This book is printed on acid free paper. Copyright © 2009 John Wiley & Sons, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, scanning or otherwise, except as permitted under Sections 107 or 108 of the 1976 United States Copyright Act, without either the prior written permission of the Publisher, or authorization through payment of the appropriate per-copy fee to the Copyright Clearance Center, Inc...
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...ftoc.indd 16 10/10/08 5:17:22 PM SEVENTH EDITION PROJECT MANAGEMENT A Managerial Approach ffirs.indd 1 10/10/08 5:16:30 PM SEVENTH EDITION PROJECT MANAGEMENT A Managerial Approach Jack R. Meredith Broyhill Distinguished Scholar and Chair in Operations Wake Forest University Samuel J. Mantel, Jr. Joseph S. Stern Professor Emeritus of Operations Management University of Cincinnati John Wiley & Sons, Inc. ffirs.indd 3 10/10/08 5:16:35 PM ftoc.indd 16 10/10/08 5:17:22 PM Dedication To Avery and Mitchell, from “papajack.” J. R. M. To Maggie and Patty for their help, support, and affection. S. J. M. VICE PRESIDENT & EXECUTIVE PUBLISHER Don Fowley EXECUTIVE EDITOR Beth Golub ASSOCIATE EDITOR Jen Devine MARKETING MANAGER Carly DeCandia Design Director Harry Nolan SENIOR DESIGNER Kevin Murphy SENIOR PRODUCTION EDITOR Patricia McFadden SENIOR Media editor Lauren Sapira PRODUCTION MANAGEMENT SERVICES Ingrao Associates This book was set in by GGS Book Services PMG and printed and bound by RRD/Willard. The cover was printed by RRD/Willard. This book is printed on acid free paper. Copyright © 2009 John Wiley & Sons, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, scanning or otherwise, except as permitted under Sections 107 or 108 of the 1976...
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...Master’s thesis M.Sc. in EU Business & Law An analysis of the European low fare airline industry - with focus on Ryanair Student: Thomas C. Sørensen Student number: 256487 Academic advisor: Philipp Schröder Aarhus School of Business September 13, 2005 1 Table of contents 1. Introduction 1.1. Preface 6 1.2. Research problem 6 1.3. Problem formulation 7 1.4. Delimitation 7 2. Science and methodology approach 2.1. Approaches to science 2.1.1. Ontology 2.1.1.1. Objectivism 2.1.1.2. Constructivism 2.1.2. Epismotology 2.1.2.1. Positivism 2.1.2.2. Hermeneutics 9 9 9 9 10 10 10 2.2. Methodology 2.2.1. Types of research 2.2.2. Types of data 2.2.2.1. Quantitative data 2.2.2.2. Qualitative data 2.2.2.3. Primary and secondary data 11 12 13 13 13 14 2.5 Reliability and validity 15 3. Theoretical framework 3.1. The structure of this thesis 16 3.2. Theory on strategy and competitive advantage 3.2.1. The Positioning School 3.1.1.1. Theory on Porter´s Five Forces model 3.2.1.2. Theory of Generic Strategies 3.2.2. The Resource-based School 3.2.2.1. Theory on SWOT analysis 18 24 20 23 25 27 4. The low fare airline business model 4.1. Introduction 28 4.2. Differences between the LFA model and the FSA model 4.2.1. The service factor 29 29 2 4.2.2. Turnaround times 4.2.3. Homogenous fleet 4.2.4. Point-to-point travel vs hub-and-spoke travel 4.2.5. Higher seat density 4.2...
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...Financial Crisis in the European Union: The Cases of Greece and Ireland Sara F. Taylor Thesis submitted to the faculty of the Virginia Polytechnic Institute and State University in partial fulfillment of the requirements for the degree of Master of Arts in Political Science Scott G. Nelson, Chair Karen M. Hult Deborah J. Milly September 7, 2011 Blacksburg, Virginia Keywords: EUROPEAN UNION, EUROZONE, GREECE FINANCIAL CRISIS, IRELAND BANKING CRISIS, EUROPEAN CENTRAL BANK Copyright 2011 Sara F. Taylor Financial Crisis in the European Union: The Cases of Greece and Ireland Sara Frances Taylor ABSTRACT The 2008 eurozone financial crisis has only worsened as of summer 2011 raising questions about the economic future of the eurozone and sending shock waves through economies around the world. Greece was the first state to receive a bailout from the European Union and the International Monetary Fund, surprisingly followed only six months later by Ireland. The goal of this thesis is to analyze the challenges posed to smaller, weaker economies within the eurozone, specifically Greece and Ireland, since the recent eurozone financial crisis. This study is based on the experiences of both Greece and Ireland as very different members of the single currency. How and why did these states meet the criteria for euro convergence? To what extent was there support for the euro in both countries in the past? To what extent is there support today after the near collapse...
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...Chapter 1 Case Study: Harmonix Embrace Your Inner Rock Star Little more than three years ago, you had probably never heard of Harmonix. In 2005, the video game design studio released Guitar Hero, which subsequently became the fastest video game in history to top $1 billion in North American sales. The game concept focuses around a plastic guitar-shaped controller. Players press colored buttons along the guitar neck to match a series of dots that scroll down the TV in time with music from a famous rock tune, such as the Ramones’ “I Wanna Be Sedated” and Deep Purple’s “Smoke on the Water.” Players score points based on their accuracy. In November 2007, Harmonix released Rock Band, adding drums, vocals, and bass guitar options to the game. Rock Band has sold over 3.5 million units with a $169 price tag (most video games retail at $50 to $60). In 2006, Harmonix’s founders sold the company to Viacom for $175 million, maintaining their operational autonomy while providing them greater budgets for product development and licensing music for their games. Harmonix’s success, however, did not come overnight. The company was originally founded by Alex Rigopulos and Eran Egozy in 1995, focused around some demo software they had created in grad school and a company vision of providing a way for people without much musical training or talent to experience the joy of playing and creating music. The founders believed that if people had the opportunity to create their own music, they would jump...
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...Chapter 1 Case Study: Harmonix Embrace Your Inner Rock Star Little more than three years ago, you had probably never heard of Harmonix. In 2005, the video game design studio released Guitar Hero, which subsequently became the fastest video game in history to top $1 billion in North American sales. The game concept focuses around a plastic guitar-shaped controller. Players press colored buttons along the guitar neck to match a series of dots that scroll down the TV in time with music from a famous rock tune, such as the Ramones’ “I Wanna Be Sedated” and Deep Purple’s “Smoke on the Water.” Players score points based on their accuracy. In November 2007, Harmonix released Rock Band, adding drums, vocals, and bass guitar options to the game. Rock Band has sold over 3.5 million units with a $169 price tag (most video games retail at $50 to $60). In 2006, Harmonix’s founders sold the company to Viacom for $175 million, maintaining their operational autonomy while providing them greater budgets for product development and licensing music for their games. Harmonix’s success, however, did not come overnight. The company was originally founded by Alex Rigopulos and Eran Egozy in 1995, focused around some demo software they had created in grad school and a company vision of providing a way for people without much musical training or talent to experience the joy of playing and creating music. The founders believed that if people had the opportunity to create their own music, they would jump...
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...Europe’s journal on infectious disease epidemiolog y, prevention and control Special edition: Chikungunya and Zika virus October 2014 Featuring • Spread of chikungunya from the Caribbean to mainland Central and South America: a greater risk of spillover in Europe? • Aspects of Zika virus transmission • Cases of chikungunya virus infection in travellers returning to Spain from Haiti or Dominican Republic, April-June 2014 www.eurosurveillance.org Editorial team Editorial advisors Based at the European Centre for Disease Prevention and Control (ECDC), 171 83 Stockholm, Sweden Albania: Alban Ylli, Tirana Telephone number Belgium: Sophie Quoilin, Brussels +46 (0)8 58 60 11 38 E-mail eurosurveillance@ecdc.europa.eu Editor-in-chief Ines Steffens Austria: Reinhild Strauss, Vienna Belgium: Koen De Schrijver, Antwerp Bosnia and Herzogovina: Nina Rodić Vukmir, Banja Luka Bulgaria: Mira Kojouharova, Sofia Croatia: Sanja Musić Milanović, Zagreb Cyprus: to be nominated Czech Republic: Bohumir Križ, Prague Denmark: Peter Henrik Andersen, Copenhagen Senior editor Estonia: Kuulo Kutsar, Tallinn Kathrin Hagmaier Finland: Outi Lyytikäinen, Helsinki Scientific editors Karen Wilson Williamina Wilson France: Judith Benrekassa, Paris Germany: Jamela Seedat, Berlin Greece: Rengina Vorou, Athens Hungary: Ágnes Csohán, Budapest Assistant editors Iceland: Haraldur Briem, Reykjavik Alina Buzdugan Ireland: Lelia Thornton...
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...GENEROLO JONO ŽEMAIČIO LIETUVOS KARO AKADEMIJA Genovaitė LAUGALIENĖ Milda MIRONAITĖ MOKOMASIS ANGLŲ – LIETUVIŲ IR LIETUVIŲ – ANGLŲ KALBŲ KARYBOS ŽODYNAS Eksperimentinis leidinys Vilnius 2008 UDK 355(03)=20=882 La-458 Mokomąjį anglų – lietuvių ir lietuvių – anglų kalbų karybos žodyną parengė Generolo Jono Žemaičio Lietuvos karo akademijos Užsienio kalbų instituto direktorė Genovaitė Laugalienė ir Užsienio kalbų instituto Užsienio kalbų katedros lektorė Milda Mironaitė. Atsakingoji redaktorė Užsienio kalbų instituto Užsienio kalbų katedros lektorė Aušra Bučaitė. Recenzavo Generolo Jono Žemaičio Lietuvos karo akademijos viršininko pavaduotojas doc. dr. Pranas Jankauskas, Užsienio kalbų instituto Anglų kalbos mokymo centro viršininkas vyr. ltn. Andrius Kiesas ir Lietuvos kariuomenės Mokymo ir doktrinų valdybos Individualiojo rengimo skyriaus Anglų kalbos mokymo poskyrio vedėja Aušra Narbutienė. © Genovaitė Laugalienė, 2008 © Milda Mironaitė, 2008 © Generolo Jono Žemaičio Lietuvos karo akademija, 2008 Turinys Pratarmė......................................................................................................................... 4 . Angliški ir lietuviški sutrumpinimai ............................................................................ 5 Anglų – lietuvių kalbų karybos žodynas........................................................................ 7 Lietuvių – anglų kalbų karybos žodynas ....................................
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... Content Page 4 6 8 13 15 15 15 17 17 18 19 21 23 24 26 28 30 32 34 35 37 39 41 43 44 46 48 49 50 51 53 54 55 57 58 59 60 62 63 63 64 66 67 69 72 74 75 76 77 79 80 82 The Programme The Degree Assessment Quality Assurance Admission Procedures Erasmus Study in BABE Programme Administrative Issues Course Descriptors Mathematics Introductory Microeconomics Introduction to Sociology Current Issues of the European and Global Economy Academic Writing Introduction into Business Introductory Macroeconomics Introduction into Economic Analysis Economics of Integration Information Technology Intermediate Microeconomics Issues in Macroeconomic Policy Mathematical Economics Statistics Regional Economics Introduction to Strategic Management Banking and Finance International Business Law Research Proseminar Accounting Managerial Economics International Economics Intermediate Macroeconomics Econometrics Research Methods Social Policy Game Theory Public Finance Investment Analysis BA Seminar Electives Financial Accounting Monetary Theory and Policy - The Impact of Global Crisis Principles of Marketing The World Economy – Retrospective View The Small and Medium-Sized Enterprises (SME) Sector Economics of Telecommunication Demography and Economics of Contemporary European Migration Personal Finance in Practice (with Excel) Contemporary China - Genesis and Background of Chinese “Economic Miracle" Negotiations and Communication Tax Policy Energy Security and Climate Protection in The European Union Risk...
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