...BOULTON & PAUL LIMITED- INVESTMENT REPORT By (Student’s Name) Course Instructor Institution City, State Date 1. Introduction Boulton & Paul has been an icon in the world of metallic and wood manufacturing all over the world from its inception in the 19th century. Having began as an ironmonger’s shop by William Moore in 1797 in Norwich, the firm has grown steadily to become one of the greatest steel manufacturers of all times with numerous products that have been exported throughout the world (Holmes, 2009). The firm’s products included stoves, building steel structures, fire buckets, metallic machinery, aircraft, and industrial machinery. The company was highly regarded in Britain and was contracted during World War I to build military aircraft for the Royal Air force. Its notable aircraft models included P.3 Bobolink, P.7 Bourges fighter-bomber, and Sopwith Camel. The company also specialized in developing innovative wood products including a wooden fridge which, however, did not penetrate the market. Boulton and Paul had built in excess of 2,500 aircraft by the end of the First World War, in addition to flying boat hulls, a number of hangers, and large sheds for aircrafts (Holmes, 2009). The company was the first firm to build an all-metal framed aircraft, which was first displayed in the 1919 Paris Aero Show. During the 1920s financial crisis, all of the company’s workers took a pay cut and the company survived the period. Thereafter, it expanded to Australia...
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...Development Franchising as a Social Innovation: When Entrepreneurial Expertise is Lacking Isaac H. Smith David Eccles School of Business University of Utah Kristie K. Seawright Marriott School of Management Brigham Young University Contact: Isaac H. Smith; isaac.smith@business.utah.edu; (T) 801-518-2991; 1645 East Campus Center Drive, 22 KDGB, Salt Lake City, UT 84112 Promoting entrepreneurship in “developing” nations has become a popular strategy for alleviating poverty and stimulating economic development (Khandker, 2005). For example, the worldwide proliferation of microfinance institutions is based on the assumption that providing individuals with better access to financial capital will fuel entrepreneurship and microenterprises, providing opportunities for people to work their way out of poverty. The results of such efforts, however, have been mixed (Snow & Buss, 2001), in part, because not all microfinance borrowers have the entrepreneurial skills sufficient to make a microenterprise succeed (Karnani, 2007a). Cross culturally, successful entrepreneurs have been shown to possess a different set of knowledge structures, or mental schema, than non-entrepreneurs (Mitchell, Smith, Seawright, & Morse, 2000). Interestingly, franchisees—often considered to be entrepreneurs (e.g., Baucus, Baucus, & Human 1996; Grunhagen & Mettelstadedt, 2005)—have been found to have entrepreneurship-related knowledge structures more closely resembling non-entrepreneurs than entrepreneurs...
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...Term Paper/Book Review 11/16/15 Magnificent Masquerade, by Charles Keats, 1964 Summary of the McKesson & Robbins Scandal Before the scandals of Enron and WorldCom, which are considered the greatest accounting scandals of the 21st century, the most notorious & influential accounting scandal of frauds in the 20th century, or in American history, is the McKesson & Robbins scandal of 1939. In the early fall of 1926, Philip Musica, assuming the name of F. Donald Coster, took control of the pharmaceutical company McKesson & Robbins by using his bootlegging profits from Girard & Co. to issue a merger between the two pharmaceutical companies, and he became McKesson & Robbins’ president. From his experience with Girard, Coster “knew how auditors functioned, they were interested in account books & supporting documents” (Keats, 71) & he knew how to mislead auditors. Coster conducted fraudulent transactions for McKesson & Robbins by continuing to manufacture (fraud) documents of inventories & accounts receivable such as, “order slips, shipping records, duplicate invoices, & other bookkeeping evidences of sale” (Keats, 72). Julian Thompson, Coster’s top assistant, finally uncovered the fraud scandal in 1938 through his suspicions of the existence of the McKesson & Robbins’ Canadian subsidiary’s warehouse. Coster was convicted of “violating Section 32 of the Securities Act of 1934: filing false financial information with the SEC” (Keats...
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...through nontraditional bootstrapping methods to launch their ventures. Bootstrap financing refers to a range of creative ways to acquire resources without relying on borrowing money or raising equity from traditional sources (Freear et al., 1995a). The paper examines how successful technology entrepreneurs used bootstrap financing: the founders of Microsoft Corporation, Apple Inc., Dell Inc. and Research in Motion Ltd. The research investigates the elements of bootstrapping as described in Freear et al. (1995a) and in Winborg and Landström (2001), finding that entrepreneurs use bootstrapping extensively during the early stages of growth for both product and business developments. Bootstrapping methods change as the business develops with certain methods used more at the beginning of the life cycle, and different variations used as the business starts to grow. The study also points out that even the most successful technology-based consumer goods businesses relied on bootstrap financing at the early stages of their development. This technique deserves more attention from the scholarly community since it is certain to become more prevalent in the new credit and lending environment. Key words: Bootstrap financing, technology entrepreneurs innovation, Introduction Entrepreneurs have been around for as long as mankind has been involved in business. Identifying new business possibilities and exploiting them in new ventures for economic gain has always been an important activity in human...
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...SHOPPING CENTRE OPERATIONAL PERFORMANCE REPORT 31 DECEMBER 2013 SHOPPING CENTRE OPERATIONAL PERFORMANCE REPORT OVERVIEW OF PORTFOLIO Westfield Retail Trust’s (the Trust) portfolio of shopping centres is geographically diverse, spread across five states and one territory in Australia, and New Zealand. The centres are generally located near or in major metropolitan areas, are anchored by major retailers with long term leases and incorporate a wide cross-section of specialty retailers and national chain store operators. The Trust’s shopping centre investments are undertaken through joint ventures and co-ownership arrangements, primarily with Westfield Group and major institutional investors. The following table sets out the Trust’s shopping centre portfolio as at 31 December 2013. Australia New Zealand Total Centres Retail Outlets GLA (million square metres) Asset Value (billion)1 1. Trust share of shopping centre assets excluding development projects and construction in progress of $247 million. Note: Exchange rate as at 31 December 2013 was AUD/NZ 1.0869 37 10,712 3.3 A$12.4 9 1,409 0.4 NZ$1.4 46 12,121 3.7 A$13.6 Key operating statistics for the shopping centre portfolio (including part-owned shopping centres on a 100% basis) for the year ended 31 December 2013, as applicable, include the following: − Comparable shopping centre net property income growth: 2.0% in Australia and 0.3% in New Zealand − Portfolio leased rate: >99.5% − Weighted average unexpired...
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...the rewrite of Pride and Prejudice by Seth Grahame-Smith can encompass the exact same story plot, yet still be different in so many ways. Jane Austen’s original book is a romantic drama that describes the difficulties faced when dealing with love and family. Her style of writing focuses on language and verbiage. Alternatively, Seth Grahame-Smith is able to rewrite this drama into more of an action thriller including zombies, ninja warriors, and sword fights through his creative and unique writing that instead focuses on characters’ actions and behaviors. While readers may initially wonder how this drastic transformation is possible, Seth is able to effectively deepen the reader’s understanding of the book through his inventive, modern concepts which help create new perspectives that the reader might have otherwise overlooked. As one of the most important sentences in the book, Jane Austen begins the first chapter with, “It is a truth universally acknowledged, that a single man in possession of a good fortune, must be in want of a wife” (Austen 1). This sentence describes the theme of marriage which encompasses the majority of Pride and Prejudice. Seth’s version instead encompasses the life of zombies and zombie-slayers in comparison to single men and women. Thus, he updates this first, crucial sentence- “It is a truth universally acknowledged, that a zombie in possession of brains must be in want of more brains” (Grahame-Smith 1). This sentence foreshadows the humor that zombies...
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...the discourse of the marginalized groups(Travers, 2008). The goal of this paradigm is to provide a voice for the marginalized groups, addressing the issues of social inequality, and work towards making reparations, in hope of a reshaping of our society(Travers, 2008). In the case of the Mackenzie Valley Pipeline Inquiry, the critical paradigm addresses the conflicts between the differing native and elite viewpoints. Critical ontology emphasizes that reality is socially constructed by the elite groups in society, supporting their position of power, resulting in conflict as the marginalized groups resist(Travers, 2008). Berger’s report recognizes the conflict between the views of the elite groups, who run the oil and gas companies, and those of the native people. The elite groups purport that the development of the pipeline, and the associated ventures, would benefit not only the economy but the native people who would have jobs and be able to join the wage economy(Berger, 1988). They attempt to create a perception, in which the native people would benefit from joining the rest of society, using the proposed development as a means of integrating them. Berger, who appears to follow a critical ontology, voices the opinions of the natives in his inquiry. Louis Frost’s statement, about how the white’s throw them into reserves and take what they please, expresses the reality that natives view this as a repeat of a historical threat, in which the elite groups once took them from their...
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...California territory was around 25,000. A few years after California was admitted as the 31st state in The Union in 1850, a special census was taken and the population had grown to 223,856. Kelly (n.d.) also states that in San Francisco alone, the population was approximately 800 in 1848 to well over 50,000 at the close of 1849. Before the rush, California was a vast wild wilderness that most Americans never dreamed of visiting. There were tales of savage people and even more savage wilderness and it was widely known that lawlessness and general uncivility reigned supreme throughout the new Western Territories. These tales enthralled the general public but deterred most from doing anything but follow the stories through newspaper articles and books. But with the discovery of a gold nugget at a sawmill owned by John Sutter, all of this changed. Newspapers reported the great discovery and when U.S. President James Polk confirmed the rumors in his annual congressional address in December of 1848, the California Gold Rush was on! This rush came a time in history when people of the United States were daring to dream of a nation that provided for its people through hard work and risk and at a time when oceanic transportation had advanced to a state that allowed people from all over the globe to much more easily reach the remote territories. Prospectors from the United States made the arduous journey either over the land or by sea, but it is estimated that ¼ of the...
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...Forensic Accounting in Practice Gabrielle Bryant Dr. Carolyn Green Contemporary Business 11/17/2013 Determine the most important five (5) skills that a forensic accountant needs to possess and evaluate the need for each skill. Be sure to include discussion regarding the relationship between the skill and its application to business operations Although forensic accounting is not a new field, it has become more talked about since cases like Enron came to light. For someone interested in the Forensic Accountant profession they should know that this field can be time consuming, but very rewarding. People who work in this career investigate white collar crimes such as company fraud, fraudulent financial record reporting, and illegal investment schemes. In a recent study by the Federal Bureau of Investigation shows that white collar crimes have cost the United States and estimated 300 billion dollars (DiGabriele 2008). I think five of the skills that a forensic account would need are communication skills, detail oriented, professional and ethical behavior, sound judgment and discretion. Communication skills are vital in any profession. It allows you to convey information for others to receive. The problem with communication is that it can be interpreted differently by other intended parties. As a forensic accountant, communication skills, verbal and non-verbal, are important when it comes to conducting interviews and gathering information. After gathering the records, forensic...
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...attracted millions of people within its confines. It has also grown massively affecting the community around it. This analysis aims at looking at what has been the impact of Tate’s prosperity .At this point, it’s worth noting that due to lack of capital resources, most museums undergo little or no progress. However, this is not the case with Tate Modern which has largely grown in size and rebranded its entire community The Stage recently reported (Merrifield, 2012) that local councils in the UK have reduced funding for arts organizations by 40% over the last year. Under ‘related posts’ on the website, there are links to a July article warning of a 90% cut in local authority expenditure on the arts by the year 2020 (Smith, 2012); one reporting a 40% cut since 2008 (Smith, 2011); one reporting the withdrawal of funding by London councils (Woolman, 2011); and one reporting a rather flaccid warning against such cuts, issued by the Arts Council of England in 2010 (Woolman, 2010). Clearly the present economic climate is not favourable for arts and cultural activities in the UK, or elsewhere in the developed world, where the effects of the 2008 global banking crisis continue to be deeply felt. The stories published by The Stage suggest that, at a local level, public authorities do not regard such activities as a priority to be defended at all costs. Nevertheless, in recent years, arts organizations have become more effective in arguing the economic case for continued commitment to public...
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...Fashion Anatomy 320 Rosemeade Drive Dallas, TX 75287 FashionAnatomy@gmail.com Phone: 972-684-7664 December 16, 2012 Main Contact: Michael Smith www.fashionanatomy.com Table of Contents * Executive Summary…………………………………………………………………… 3-4 * Company Description………………………….........................................5 * Industry Analysis………………………………………………………………………..6 * Industry Size, Growth Rate, and Sales Projections…………………6-7 * Industry Structure…………………………………………………………………..7 * Nature of Participants……………………………………………………………..7 * Key Success Factors………………………………………………………………….8-9 * Industry Trends…………………………………………………………………………10-12 * Market Analysis………………………………………………………………………………12-14 * Market Segmentation Target Market Selection……..…………………..15-16 * Buyer Behavior………………………………………………………………………….17 * Competitor Analysis…………………………………………………………………..18 * Estimate of Annual Sales and Market Share…………………………………18-19 * Marketing Plan………………………………………………………………………………….20 * Overall Marketing Strategy……………………………………………………………20-22 * Pricing Strategy……………………………………………………………………………..22-23 * Sales Process………………………………………………………………………………23-24 * Management Team and Company Structure……………………………….25 * Management Team………………………………………………………………….25 * Board of Directors……………………………………………………………………25-27 * Board of Advisors………………………………………………………………………28-29 * Other Professionals…………………………………………………………………30 ...
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...E-Learning: Emergence of the Profession Jason Drysdale, Jackie Flynt, and Shauna Hannon-Johnson 24 July 2011 The e-learning profession has grown leaps and bounds over the past two decades. Despite being slow to take hold, e-learning is now rapidly increasing in universities: “Today, almost all institutions of higher education offer some form of distance teaching and learning in the U.S.” (Saba, 2008). The historical timelines of instructional design and technology (ID&T) and distance education inform practices in place today. In this paper we track the development of these two traditions, each of which has contributed to current e-learning practice. Instructional Design and Technology: Parent Field Instructional design and technology (ID&T) is the term Robert Reiser (2001) uses for the field also known as instructional design, instructional technology, and educational technology. The core of ID&T revolves around two related practices: use of media for instruction and use of systematic design processes—known as instructional design or instructional systems design (ISD) (Reiser, 2001). We briefly trace below the development of these two strands of the field. Instructional media has been used since the early 1900s in school museums with movable exhibits. These museums appeared first in St. Louis in 1905, primarily using visual media such as photos and slides. This was known as the visual education movement. Movies were used, as per Thomas Edison’s expectation, beginning in 1910...
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...extract this expectation by obtaining residual analyst coverage from a model of initial analyst following. We document that in the three subsequent years, IPOs with high residual coverage have significantly better returns and operating performance than those with low residual coverage. This evidence indicates analysts have superior predictive abilities and selectively provide coverage for firms about which their true expectations are favorable. ∗ Das and Guo are at the University of Illinois at Chicago, and Zhang is at the University of Hong Kong. We thank Eli Amir, Gilbert Bassett, Oleg Bondarenko, Konan Chan, Hsiu-lang Chen, Tim Kruse, Chao-Shin Liu, Malcolm McClelland, Roni Michaely, Tom Nohel, Ram Ramakrishnan, Cathy Schrand, Abbie Smith, Lenny Soffer, WeiLing Song, Robert Stambaugh (Editor), Steve Todd, Beverly Walther, Nan Zhou, an anonymous referee, and seminar participants at the City University of Hong Kong, Indiana University at Indianapolis, the London Business School, Nanyang Technological University, the Office of Economic Analysis at the U. S. Securities and Exchange Commission, Singapore Management University, Syracuse University, University of Illinois at Chicago, the 2003 Eastern Finance Association Meeting, the 2003 Midwest Finance Association Meeting, and the 2004 National Taiwan University International Conference on Finance for their helpful comments and suggestions. This paper received a “Best Paper Award” at the 2004 National Taiwan University International...
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...Australia 2 2.1.1b Business-to-Business (B2B) Venture 3 2.1.2 Political/Legal 3 2.1.2a Offensive Ad 3 2.1.2b Under-age Bet 4 2.1.2c Rob Keane’s Lawsuit 4 2.1.3 Economical 5 2.1.3a Global Economic Downturn 5 2.1.3b Foreign Exchange Rate 5 2.1.4 Socio-Culture 5 2.1.4.a Responsible Gambling 5 2.1.4b Sports and Social 6 2.1.4c Health and Safety Policy 6 2.1.4d Publicity stunts 6 2.1.5 Technology 7 2.1.5a Mobile Betting 7 2.1.5b Acquisition Cayetano 8 2.1.5c Marketing Strategy 8 2.1.6 Environmental 8 3.1 MICRO (THE COMPITITIVE ENVIRONMENT) 8 3.1.1 Supplier 8 3.1.2 Buyers 9 3.1.2 Competitors 9 4.1 Cultures and Globalization 11 5.1 Conclusions 11 Appendix 12 Works Cited 13 THE INTERNAL AND EXTERNAL BUSINESS ENVIRONMENT OF PADDY POWER 1.1 INTRODUCTION Paddy Power, Irelands biggest, most successful bookmaker is an international betting and gaming group. Since 2012, an estimate of €5 billion what of bets have been placed by Irish online gamblers alone (Duffy, 2015). In this case study, we will focus our environmental analysis on the bookmaking industry and Paddy Power in particular. This will include the internal, external analysis and how international management has affected the company. Why Paddy Power? The company claims to be the most innovative and security conscious bookmakers (Paddy Power, 2011). They have also drawn a lot of criticisms in the past of which some of them would be mentioned in this report. If you cant beat them, join them. Paddy Power...
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...diversification over a period of time have achieved superior performance than companies following an unrelated diversification (Palepu 1985). Amazon has started its business by selling books and music, soon after it incorporated online auctions for airlines tickets and hotel rooms, computer hardware, pet food and pet accessories, electronic cards, toys and consumer electronics. Whereas Amazon has achieved very high volume of sales and gained important market shares in the book industry, the company has never been profitable. As a result, in this essay, in order to determine if Amazon’s decision to diversify so extensively was a wise decision, we will firstly describe the firm business model and the reasons for its success. We will then try to determine if this business model is applicable to Amazon’s diversification strategy as well as the limit of diversification. And finally we will try to evaluate the limit of such strategy in an international context. I Is the business model designed for selling book on internet apply for different category of products? The success of Amazon Business Model In e-tailing, one can identify four kinds of business models: the channel supporter, the vertical portal and the category killer such as Amazon. In this regard, Calkins, Farello and Smith Shi (2000) identify three fundamentals of on-line...
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