...Economics Economies of Scale Reduction in cost per unit resulting from increased production, realized through operational efficiencies. Economies of scale can be accomplished because as production increases, the cost of producing each additional unit falls. Diseconomies of Scale “Economies of scale” is a simple concept that can be demonstrated through an example. Assume you are a small business owner and are considering printing a marketing brochure. The printer quotes a price of $5,000 for 500 brochures, and $10,000 for 2,500 copies. While 500 brochures will cost you $10 per brochure, 2,500 will only cost you $4 per brochure. In this case, the printer is passing on part of the cost advantage of printing a larger number of brochures to you. This cost advantage arises because the printer has the same initial set-up cost regardless of whether the number of brochures printed is 500 or 2,500. Once these costs are covered, there is only a marginal extra cost for printing each additional brochure. Economies of scale can arise in several areas within a large enterprise. While the benefits of this concept in areas such as production and purchasing are obvious, economies of scale can also impact areas like finance. For example, the largest companies often have a lower cost of capital than small firms because they can borrow at lower interest rates. As a result, economies of scale are often cited as a major rationale when two companies announce a merger or takeover. However...
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...Memory Destruction For those that suffer from memory loss, everyday life can be difficult. The onset of memory loss may come on suddenly or be more gradual. It can be permanent or temporary, depending on the cause. Memory loss is also referred to as amnesia. Memory loss is defined as the inability to recall past events. Short-term memory loss is the inability to recall events that occurred recently. Long-term memory loss is the inability to recall events that happened in the distant past. Also there are effects of memory loss after a stroke may include: Alzheimer's disease, and amnesia First, The memory loss associated with Alzheimer's Disease (AD) may have multiple cognitive components. Working memory appears to be impaired due to failures of a Central Executive System. Secondary Memory, on the other hand, is affected due to poor encoding or meditational processes. An analysis of the performance of 71 AD patients on tests related to these neuropsychological constructs revealed that they could indeed be dissociated. In fact, individual patients were identified with significantly different, and unique, patterns of impairment which were consistent with the two-component model. These data, therefore, lend preliminary support for the notion of multiple cognitive impairments being responsible for the memory loss in AD Second, ECT is a common cause of severe retrograde amnesia, doe example, destruction of memories of events prior to an injury. The potency of...
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...© 2012: All rights reserved by Financial Training Academy Pvt. Ltd. Visit us at www.ftacademy.in | www.facebook.com/ftacademy.in | Contact us at: +91 22 2612 1877 | +91 91672 47821 - 5 Classroom Exercise: Build a Financial Model Hero MotoCorp (Hero) Business Description: Hero is the world’s largest two-wheeler company in terms of volumes. It offers motorcycles in all the 3 segments, i.e. segments—CD Dawn and CD Deluxe in entry; Splendor, Passion and Glamour in executive; and Hunk, Achiever, CBZ and Karizma in premium. It also sells Pleasure in the ungeared scooter segment. The company is listed on BSE & NSE. About the Two Wheeler Segment: The Indian Two-Wheeler is a growing segment, with strong double digit consistent growth. It is one of the most resilient sectors, unaffected by adverse factors impacting the automobile industry. Industry Volumes (MM) 2008 2009 2010 2011 2012 Motorcycles – Domestic 6.07 6.24 7.34 9.02 10.09 Motorcycles – Exports 0.84 1.07 1.10 1.48 1.86 Scooter (Domestic) 1.12 1.19 1.46 2.07 2.56 (Source: ICRA) Analysts predict the industry growth as follows, with a decrease in the growth at 0.2% p.a. Industry Growth p.a. Bear Base Bull Motorcycles – Domestic 5% 10% 14% Motorcycles – Exports 17% 20% 22% Scooter (Domestic) 18% 20% 25% Hero – Key Operating Indicators: Hero Volumes (MM) 2008 2009 2010 2011 2012 Motorcycles – Domestic NA 3.53 4.29 4.93 5.65 Motorcycles – Exports NA NA 0.09 0.11 0.13 ...
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...Steps involved in starting business in India Registration Requirements: |No: |Procedure |Time to complete: |Cost to complete: | |1 |Obtain director identification number (DIN) online from |1 day |INR 100 | | |the Ministry of Corporate Affairs portal (National) | | | |2 |Obtain digital signature certificate online from private |3 days |INR 1,500 | | |agency authorized by the Ministry of Corporate Affairs | | | | |(National) | | | |3 |Reserve the company name online with the Registrar of |2 days |INR 500 | | |Companies (ROC) (National) | | | |4 |Stamp the company documents at the State Treasury (State)|1 day |INR 1,300 (INR 200 for MOA + INR 1,000 for AOA for every | | |or authorized bank (Private) ...
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...C A.$£~ 3 Jack Brandon's initial idea has not panned out, and the cash is nearly gone. But he's got a new plan. Will you back him a second time? HBR CASE STUDY Good Money After Bad? by John W. Mullins From a rocky perch overlooking the sparkling lights of San Francisco, Christian Harbinson gazed across the bay to the hills above Sausalito. "There's nothing like a vigorous hike;' he thought, "to clear the mind before a crucial meeting:' It was a mild March evening, and the 35-year-old venture capitalist was reflecting on the recommendation he would have to make to his firm's investment committee the next morning about Jack Brandon's young company, Seven Peaks Technologies. Seven Peaks had developed an innovative device for cauterizing blood vessels during electrosurgery, and although the feedback from surgeons had been excellent, sales had been slow. The Palo Alto-based venture capital firm where Harbinson worked, Scharfstein Weekes, had invested $600,000 in Seven Peaks from its newly raised second fund of $100 million. SW's current investment strategy focused on early-stage medical technology companies, and Seven Peaks was a typical investment for the firm, which liked to get in on promising ideas modestly and then follow with additional rounds of capital after technological and market milestones had been met. The $600,000 was nearly gone; Harbinson and his colleagues had to decide whether to put more into the struggling company. Seven...
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...UNIT ONE INTRODUCTION TO CIVIC AND ETHICAL EDUCATION 1. INTRODUCTION 2. MEANINGS OF CIVICS AND ETHICAL EDUCATION The Notion of Civics The subject field of civics originates from the nature of human being itself i.e. from the natural behavior and level of interaction of human beings it self. One basic nature of human beings related with this statement is the fact that “man is a social animal” whose life is closely related to each other. Almost all instincts, demands and progresses of human beings are fulfilled in society. The superiority that human beings try to achieve over nature and other living things is the result of the social bond among human beings. If such bond is a requirement for the survival of human beings, then what should be the pattern of social interaction that exist among human beings is closely related with the subject matter of civics. In this regard civics is considered as a subject field which is mainly concerned with teaching citizens as to how they can live harmonious and peaceful life with other citizens and as to how they can resolve conflicts peacefully among them selves. The other basic nature of human being is the political view of philosophy by Plato that, “Man is a political animal”, which means no human being can escape from the deeds of politics and its dayto-day life is either directly or indirectly affected by it. For this reason human beings have to know the workings of politics, institutions that affect their day to day life, norms, principles...
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...In “One good turn” Rybczynski (2000/2011) claim that the Robertson’s screw is better screw by providing concrete scientific evidence and using effective language and anecdotes to the general audience. The author start with giving information about Robertson and Phillips background and their early success and downfall, and he also bring some evidence and consumer reports to convince readers that Robertson screw is more practical. By explaining the two inventor’s characters, the author intentionally makes it clear that why Robertson was not successful in business although his screw work more efficiently. Rybczynski (2000/2011) describe that Robertson as unmarried person “A life-long bachelor” was rigid, perfectionist and (… was unwilling to share control over production) whereas Phillips was more flexible and wanted to share his patent with other manufactures. The author also makes his argument stronger by mentioning about world war and economic crises in that era. He states that World War II makes the Phillips screw worldwide; however, the World War I and bad economic circumstances had negative effect in Robertson screw. In the final paragraph Rybczynski (2000/2011) cleverly shift the tone and talk directly with the readers to show that he is a fan of Robertson screw and says” I must confess myself to be a confirmed Robertson user” (p. 468). By repeating the subtitle and giving the statement “Why not” at the last sentence reveal his support to the Robertson screw...
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...Turn of the Screw- The Sightings | The Tower pg. 15-16 | Context | “ it would be..” Quote she is out walking thinking about the master and bragging about herself | Style | We must ask ourselves does she really see the man? “as definite as a picture in a frame”(16)refers to art- its as true as a storysomething someone perceives but its not actually there | Effect (16) | Intense stare Sexual ConnectionSilence, absence of soundSound and sight are 2 senses that are heightened | | The Man pg. 19-23 | Context | Thinking about milesDazzed by their lovelinessShe does not attend churchDark, rainy | Style | Describing Peter QuintNever mentions hes a ghostReally wants to see this manMasters Clothes Red Hair, No Hat – she says he’s not a gentleman and perhaps he stole the masters clothing | Effect | Uncertain about what she’s sayingShow how untrustworthy she isQuestions he reliability | ** we see that the governess writes herself as a heroic person throughout this scene greatly, but then plays a different role | The Water pg. 28-29 | Context | Peaceful, quiet, “suddenly”Mrs. Jessel appears Flora’s reaction of no reaction actually sets her reaction | Style | Clear, concise and very detailed description | Effect (27) | Quick shift on changeIn a state of tension Calm to the whole settingComing to expect these citings | | Flora pg. 68-70 | Context | Outside searching for FloraFlora took boatMiles played role of distractionGoverness believes...
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...by ___________%, then FNMA will lose all its equity! Asset-Liability Management 2 A Look at FNMA’s Income Statement For the Period December 31, 1994 - December 31, 1995 (in Billion $) Interest Income: Mortgage Portfolio Investments Total Interest Expense: Short Term Long-Term Total Net Interest Income Other Income Other Expenses Income Before Taxes (In Billion $) 18 3 21 In percent 7.85 % 6.155 7.56 4 14 18 3 1 1 3 5.855 7.0575 6.7525 0.8075 Investment Spread Asset-Liability Management 3 Funds-Gap Analysis Focus is on evaluating the impact of changes in interest-rates on net interestincome. The analysis is “maturity based.” Hence, it can be considered as the worst assetliability management tool. There is one side benefit in learning the Funds-Gap Analysis. It is a nice tool to demonstrate how changes in market yields cut through the balance-sheet and affects the income statement. Specifically, for example, it can show us the source of $3 billion accounting profit FNMA reported for the year ending 1995. To undertake the analysis, the first step is to partition the balance sheet into four quadrants: ________________________________________________________ | Rate Sensitive Assets | Rate Sensitive Liabilities (RSA) | (RSL) | | Fixed Rate Assets | Fixed Rate Liabilities (FRA) | (FRL) Asset-Liability...
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...Good Thinking is Inspired by Good Values That One Practices On A Daily Basis Thinking is the highest mental activity present in man. All human achievements and progress are simply the products of thought. Thus, man’s thinking can change the world to a better place or even worse too. In today’s society, we can see many types of crime happened around us. The major factor that encourage these people to do such thing is not because they are forced by the bad situation but is they have bad thought to achieve or get something. They are selfish, heartless, only care about themselves and sometimes they are lazy to work for money. And thus, they rob, snatch, cheat and abduct people who are usually weak or don’t have much experience in handle with ‘bad guys’ . For instances, old lady, young lady, woman and child. In short, good thinking is significant to a person to ensure he has a bright future and brings our society to a better place. So, it is important to us to talk about good thinking. In facts, good thinking is inspired by good values that one practices in daily basis. Now, there are many questions appear in our brain. Firstly, what are the good values we practices in life? How we practice these values in our daily life? And, how these good values affect our thinking? First and foremost, the most important value that we should practice in our daily basis is to be appreciate everything we own now. We have to appreciate every moment we spent with friends, family and lover...
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...What does this contract reveal to you about the nature of sharecropping? Was this system a good one for both the sharecropper and the landowner? Explain. I believe what the contract reveals about the nature of sharecropping is that it was set up to set the “freed” African American for failure and to put them in such debit that they basically became slaves to the landowner once again. The landowner has left a lot of responsibility to the sharecropper obviously I think a good example of this in this contract is that the landowner has agreed to provide the team but the sharecropper has to feed the team Saturday nights, and every other day morning night a day and if he fails to provide the meal he will then owe the landowner 5 cents, which was a lot of money at the time especially for a poor sharecropper. He also has to pay for his half of the manure which the landowner designates as enough of the crops. This system is so beneficial to the landowner but only allows the sharecropper enough to thrive to live. I don’t believe this system was good for both the sharecropper and the landowner. I believe as earlier stated it was one sided to the landowner. The sharecropper had a lot of responsibility while all the landowner did was provided the land and horses for the sharecropper and then reaped all the benefit finically. He got a low cost of labor and once the debit piled up from the landowners harsh expectations basically free labor out of this. This landowner even went as far...
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...With reference to Mattel and your own research to what extent do you think that a business strategy of targeting emerging markets is a good one (40marks) An emerging market is a country which is in the process of rapid growth and industrialisation and it can consist of the BRIC countries, which are Brazil, Russia, India and China. Targeting an emerging market could be a good strategy. This is because if the current market the business is operating in is in saturation, it could be then justified for them to expand in to these emerging markets as this gives them an escape route away from a saturated market or if the market is in recession to allow them to maximise sales revenue and allow them to survive in a recession. This is because we see that emerging markets usually have a quickly growing middle classes with a strong economic growth meaning that they would be able to escape the worsening current market and move to sell in somewhere with a stronger economy and a larger middle class. Meaning that this middle class is more likely to have money to spend on the new businesses products or services. Also meaning that the growing middle class is resulting in a culture shift, so there could be higher demand for their products or services in the emerging market. As a consequence to moving in to these emerging markets it also means that there brand name and image is growing and becoming more well known in these new markets. We see this with JLRs move to India as the Indian...
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...How adequate is Mill’s conception of happiness? How good are his arguments to show that “higher” pleasures are intrinsically more desirable than “lower” ones? Is this distinction consistent with the thesis that pleasure is the only thing of value? In “Utilitarianism” Mill argues that ‘higher’ pleasures are intrinsically more valuable than ‘lower’ pleasures, citing the invariable preference of men who have access to both available (pp.140). I am inclined to disagree, particularly with regards to his assertion that ‘higher’ pleasures have such a “superiority of quality”(pp.139), so as to render any quantity of ‘lower’ pleasures “in comparison, of small account”- this non-cardinal view of pleasure raises many discontinuities. This is particularly the case when we take Mill at his word: “actions are right in proportion as they tend to increase happiness… By happiness is intended pleasure and the absence of pain”(pp.137), and view pleasure as the only good. It is the twin beliefs; of pleasure as the only good-making exercise and Mill’s non-cardinal conception of pleasure that form the core of my disagreement with Mill. I will begin by presenting Mill’s arguments for intrinsically more valuable ‘higher’ pleasures and evaluating them. To support his assertion that ‘higher’ pleasures are intrinsically more valuable, Mill asks the reader to consider a thought experiment. Would an “intelligent human being… consent to be changed into a fool”(p.139), if they could be persuaded that the...
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...trade, the internal distribution of national income in Country A will change in favor of: a. | Labor | b. | Land | c. | Both labor and land | d. | Neither labor nor land | 4. When considering the effects of transportation costs, the conclusions of our trade model must be modified. This is because transportation costs result in: a. | Lower trade volume, higher import prices, smaller gains from trade | b. | Lower trade volume, lower import prices, smaller gains from trade | c. | Higher trade volume, higher import prices, smaller gains from trade | d. | Higher trade volume, lower import prices, greater gains from trade | 5. Which trade theory suggests that a newly produced good, once exported, could ultimately end up being imported as the technology is transferred to lower- cost nations? a. | Factor endowment theory | b. | Product life cycle theory | c. | Overlapping demand theory | d. | Comparative advantage theory | 6. Which of the following suggests that by widening the market's size, international trade can permit longer production...
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...Charles Kettering, the famed US electrical engineer and inventor said “A problem well-stated is half-solved.” One of the key capabilities in Consulting is to develop a good understanding of the problem situation from a number of different perspectives. This stage in the consulting process is known as ‘problem structuring’. The capabilities in Consulting have no limits with extraordinary growth in which is capable to handle and bring solutions for all business problems. Consulting is currently not well defined; however, it may refer to as giving advice to companies provided by trained professionals who help managers solve operational and strategic problems through the use of their knowledge and systematic analysis of facts and experience. Many specialised practitioners from all industry sectors often refer to themselves as ‘consultants’, in which roles they share knowledge and proffer advice to clients. The teaching of consulting begins its teaching by introducing the art and science of consulting. The reason being is that when coming up with any problems within a business, everything can be approached scientifically and everything can become art (Vidal R. 2006). The message given here believes to indicate that in complex situations to problem solving, it is advisable to use both the scientific and artistic attitudes for a more satisfying result to achieve with the risk of failure been minimized, all the participants been empowered and everybody to have given the chance...
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