Types Of Business Entity For A Business - 2258 Words

Of all the choices you make when starting a business, one of the most important is the type of business entity you select for your company. Not only will this decision have an impact on how much you pay in taxes, it will affect the amount of paperwork your business is required to do, the personal liability you face and your ability to raise money. It s not a decision to be entered into lightly, either, or one that should be made without sound counsel from business experts. â€Å"Kalish says it s important for business owners to seek expert advice from business professionals when considering the pros and cons of various business entities†. The business entity I have chosen for my business is sole proprietorship. I don’t want to be responsible if someone else makes a bad chose for the company. I want to run my business my way. If anything goes wrong it is completely my fault not anyone else’s. Types of Business Entities The type of business entity you choose will depend on three primary factors: liability, taxation and record-keeping. Here s a quick look at the differences between the most common forms of business entities: †¢A sole proprietorship is the most common form of business organization. It s easy to form and offers complete managerial control to the owner. However, the owner is also personally liable for all financial obligations of the business. †¢A partnership involves two or more people who agree to share in the profits or losses of a business. A primaryShow MoreRelatedBig Data Management Analytics And Management Essay929 Words   |  4 PagesDataset Description. The dataset comprises of a single csv file data.csv that contains 3 types of entities namely users, businesses and reviews. Records for each entity are distinguished by the type column. The type column determines the type of entity a row represents. For example if type is business, then that row contains business data, if type is user , then the row contains user data likewise if type is review, then that row contains review data. The csv file has 24 columns namely ColumnRead MoreImportance Of Choosing A Business Entity905 Words   |  4 PagesChoosing a Business Entity The Importance of Choosing a Business Entity As an accountant and Tax Preparer in New York, Monique Desir works with many tax payers who require a business entity. There are many factors that go into the choosing of a business entity, and the implications for the business can be large. If you are working towards a new business, find a tax professional who knows the ins and out of business entities in your area. What is a Business Entity? A business entity is not onlyRead MoreLooking A Tax Preparer, A New York923 Words   |  4 PagesAbout Small Business Taxes Starting your own small business is an exciting and sometimes frightening time for most Americans. If you opened a new business or began a new venture last year, you taxes will need to be completed to accommodate this new industry. Tax payers in Rosedale, New York should take the time to call me or come by my office with any small business tax questions. I am Monique Desir, a tax preparer and accountant. My years of experience will serve your new business to the fullestRead MoreBusiness Entities : A Business Entity1530 Words   |  7 Pages Business Entities: Each business entity is structured differently and, as a result, has unique tax implications. The types of business entities covered in this course were: sole proprietorships, partnerships, C Corporations, S Corporations, and Limited Liability Companies (LLC). The entities were differentiated by the number of owners and/or shareholder, whether they are a pass-through entity or not, and the level of liability the shareholder(s)/ owners(s) are responsible for. A sole proprietorshipRead MoreEntity-relationship Model and Mountain View Community1374 Words   |  6 Pageswant to use entity-relationship modeling to understand its data requirements? What other ways might the hospital want to model its information requirements? This hospital wants to use E-R modeling to understand data requirements. E-R modeling is very easy to understand and shows all the business rules. †¢ Entity-relationship modeling is logical representation of the data for an organization or for a business area. The E-R model is expressed in terms of entities in the business environmentRead MoreChoosing the Right Business Entity1130 Words   |  5 PagesChoosing the Right Business Entity By Rosa Martinez Professor Smith English 315 February 24, 2012 TRANSMITTAL TO: Small Business Owners FROM: Rosa Martinez DATE: February 24, 2012 ------------------------------------------------- SUBJECT: Choosing the Right Business Entity ------------------------------------------------- Enclosed is the Justification Report covering information related to different types of entities that could be chosen to establish a business. Furthermore, theRead MoreDiscussion Board Forum 3 Case Study1554 Words   |  7 PagesDISCUSSION BOARD FORUM 3 CASE STUDY ON BUSI 561 STARTING AND NAMING A BUSINESS Shania’s is confronted with lots of decisions to make before she opens up her Christian coffeehouse near Denver, Colorado. The challenges awaiting Shania are the type of business structure to open and type of people to work with. Shania as a Christian should refer to Roman 8:28, â€Å"And we know that all things work together for good to them that love God, to them who are the called according to purpose. She should thereforeRead MoreAcme Fireworks Essay990 Words   |  4 PagesFinal Paper Proposal James Collier BUS311: Business Law I Instructor: Daniel Malvin 9-1-2014 A sole proprietorship is a one-person business that is not registered with the state as a corporation or a limited liability company (LLC). The owner of the Acme Firework is a sole proprietor that has never changed his business entity. A sole proprietor can be held personally liable for any business-related obligation. This means that if your business doesnt pay a supplier, defaults on a debt, orRead MoreThe Characteristics Of A Business Entity1646 Words   |  7 PagesTopic #1: Choice of Entity Question 1 - How is a business entity defined and what are some of the characteristics of a business entity as highlighted in R.P. Groetzinger? Answer: A business entity must take part in some form of business activity. However, the term business activity is too vague of a definition to provide an adequate understanding of what constitutes a business entity. When examined further, the case of R.P. Groetzinger helps to provide some incite (American Federal Tax Reports)Read MoreBusiness Structures Within The United States908 Words   |  4 Pagesimportant decisions when starting a company is to determine the type of legal entity best suited for your business. Each country has different legal business entities under its regulatory framework. According to Dewhurst (2014), the most common types of business structures within the United States are: proprietorship, partnership, corporation, limited-liability company, and cooperative. Additionally, there are other types of legal entities derived from the association of different corporations, such

Puerto Rican Culture Development within the New York Diaspora

According to census research at Lehman College (1), during 1945 to the 1950’s more than half a million Puerto Rican natives migrated to several parts of the USA, originally from their own homeland, Puerto Rico. Several of the locations that Puerto Ricans migrated to include Chicago, New Jersey, Boston, Philadelphia, and New York City. One of the cities that experienced a large boom of Puerto Rican population was New York. This period was known as the â€Å"Great Migration† and had several factors that led to the mass migration. Some of these major events include the 1917 signing of the Jones-Shafroth Act by Woodrow Wilson, and the Great Depression. Afterwards, Puerto Ricans were permanent citizens of the US From these events. This still poses†¦show more content†¦They start migrating due to hoping on finding a new start in the states because Puerto Rico’s economy at its worse at this time, and the common person is not finding jobs is starving. As air tr avel technology advanced and low cost air flights appeared, this is where we start to see when a huge amount of Puerto Ricans decide to migrate over into the United States, and one of the states they migrate largely to in particular was New York City. They also migrate there also because non – stop flights toward New York were also becoming available at the time. Those Puerto Ricans also sought out a new beginning to their lives. This is also the time when Puerto Ricans start developing their culture and neighborhoods in New York. In 1945, technological advances in the aviation field helped Puerto Ricans migrate in immense numbers, and also the air fare of flights were affordable for the average Puerto Rican instead of a higher upper class only being able to afford air travel. Puerto Ricans then began to travel all over the US, but a massive number, about 200 to 500 thousand migrated toward New York. Now before the mass migration, Puerto Ricans were already living in New York, specifically in East Harlem known as â€Å"El Barrio† to many Puerto Ricans. They had moved there mainly because of the affordable housing rent and non-existent racial discrimination since racial discrimination was still big in the 1920-60’s. TheShow MoreRelatedOne Significant Change That Has Occurred in the World Between 1900 and 2005. Explain the Impact This Change Has Made on Our Lives and Why It Is an Important Change.163893 Words   |  656 PagesThe Story of Reo Joe: Work, Kin, and Community in Autotown, U.S.A. Van Gosse and Richard Moser, eds., The World the Sixties Made: Politics and Culture in Recent America Joanne Meyerowitz, ed., History and September 11th John McMillian and Paul Buhle, eds., The New Left Revisited David M. Scobey, Empire City: The Making and Meaning of the New York City Landscape Gerda Lerner, Fireweed: A Political Autobiography Allida M. Black, ed., Modern American Queer History Eric Sandweiss, St. Louis:

Discuss the problems of the Central Business Districts of MEDC cities Free Essays

In this essay I will be writing about the Central Business District (CBD), it’s problems, and possible solutions to them. Also I will show how the CBD relates to the Burgess and the Hoyt models. The main things that are located in the CBD are: shops, department stores, and office blocks. We will write a custom essay sample on Discuss the problems of the Central Business Districts of MEDC cities or any similar topic only for you Order Now The main functions of the CBD are commerce, employment and entertainment. The CBD has the widest range of shops, and the highest amount of department stores, as it is very densely populated during the day. People come to the CBD for shopping, as you will have no trouble finding what you are looking for. In the CBD lots of businesses have their offices there. For example: solicitors, banks etc. The entertainment is also located in the CBD. Theaters, cinemas, nightclubs etc. are all located in the Central Business District because it is very highly populated in the evenings/nights. A good example is London’s West End. The CBD is located in the same place on both Burgess’s and Hoyt’s models which is in the middle of the city. (As shown on the diagrams below.) It is located there because it is easily accessible and most of the public transport meets there. Central Business District Central Business District The CBD faces many severe problems due to the high density of people, cars etc. Many of those problems are trying to be solved by the government, but unfortunately so far they have not been successful. One of the major problems is traffic congestion. Traffic congestion is a very big problem that causes not only jammed streets, and delays but also pollution, which is another big problem. Traffic congestions is caused by the fact that the streets and roads where laid down before the car was invented. Back then horse-carriages were in use and the roads were not getting jammed. The other thing that causes this problem is the very high ownership of cars. Many people own more than one car. Many roads are being gridlocked for many minutes or sometimes even hours. Also lots of shops , services and offices are located in the CBD so people want to get to them, so the roads are congested. Some solutions have been attempted to solve the problem. These include: Ring roads, by-passes that divert the traffic from the CBD and instead go around it. It may seem that it would take longer, but that is not the case, as in the CBD you cannot travel fast, there are traffic lights, etc. but on the motorway there are no traffic lights and you can travel much faster so you take less time then you would if you travel through the CBD. An example of a ring-road is the M 25 going around London. It is so successful the government is planning to expand it so each side has 6 lanes, instead of the 3 it has now. Another solution proposed by me, is the banning of heavy lorries from going through the CBD as they take up lots of space and cause congestion. That way there will be more space for cars, and lorries do tend to block streets while turning, etc Also I think that multistory car park and † park and ride† schemes would help to reduce the traffic in the CBD. It would help because people would park their cars in a multistory car park or the would park it on the suburbs of the city and ride to the CBD using public transport, that not only would save them time, but also money because parking in the CBD is very expensive, and it’s hard to find a space. In Rio de Janeiro in Brazil they have a scheme in which on Mondays, Wednesdays, and Saturdays only cars with an odd last number plate are allowed to drive in the CBD and on the remaining last 3 days, Tuesdays, Thursdays and Saturdays. On Sunday anyone can drive. I think that this method of reducing cars in the CBD is good and successful for cities in LEDC countries because people can only just about afford one car let alone two. That’s why this would not be doing so well in MEDC countries such as England, because people can afford two cars, one with an odd number plate and one with an even number plate so they will be able to drive on any day of the week. The solution attempted by the Mayor of London is † Congestion Charging†. Basically you have to pay 5 pounds so that you can drive into the CBD. This method has been successful in one-way, but yet still there are a lot of cars in the CBD, although some people do choose to go around now, that they have to pay, or they choose to travel by the public transit. I also think that if the government invested some money into improving the public transport drastically, then probably more and more people would choose to travel by it, recognising that it is faster than travelling by car and not so gross. Also another solution that I think would be successful is car sharing. For example I think that some people go to 2 places that are really close to each other, and yet still they take 2 cars, when they could take only one. That would help because there would eventually be less cars around, so there will be less traffic jams, so people will see that it is a good idea because they get to work on time, or maybe even they can sleep for another 10 minutes or so. Furthermore I think that pedestrianization of certain high streets is a good idea. For example Bond Street in London. That way it will encourage people to take the public transport as they won’t be able to go on that road in their car anyway, and the pedestrians will have more space so they will move about more freely. Also allowing only â€Å"black taxis† and busses on to certain roads is a good suggestion, because it will also encourage people to take the public transport. In addition I think that introducing bus lanes is an excellent scheme, because the busses won’t be stuck in the traffic jams, and they will take up less space because they will have to keep to their lane. That way more people might start to travel by busses, as they will see that it is quicker. This will result in the number of cars on the road to decrease. The second chief problem the CBD is facing is pollution. Pollution is the air that is polluted but also water, land, noise and garbage in the streets. Polluted air causes many diseases such as asthma and bronchitis. Not only it is not healthy for us to breathe in, but also it doesn’t look to appealing when car fumes are floating everywhere. Vehicle fumes, especially petrol and diesel, mostly cause polluted air. Cars are the biggest air polluted in the CBD, as there are thousands of them. Traffic congestion makes the pollution even worse because while the car is stopped, it r releases more fumes than it does whilst moving. The government are tackling this problem, but so far they do not seem to succeed in it. In my opinion there are quite a few solutions to this dilemma. Firstly I think that banning heavy lorries (as I mentioned before) is a very good way of reducing pollutions as they give of many fumes and most of them run on diesel, which is very bad for the environment. That way fewer fumes will be released so it will be healthier to live/work there. Secondly I think that if all the busses were running on methane, then it would release less poisonous fumes than diesel. Methane is more environment friendly than petrol or diesel and it won’t be so destructive to the surroundings. Thirdly I propose that people start to use bikes more than they do now. For example they could get to work by bike rather than by car. That way not only it would be better fro the environment, but also the people will work on their fitness, and some might find it highly entertaining. In Japan, China, and S/N Korea many people travel by bikes. Bikes are the mean form of transport over there and the atmosphere is cleaner. In addition I think that increased road sweeping can be successful. If the government invested more money into the cleaning processes of the CBD then it would help to solve the problem of pollution. If we had more road sweepers employed and maybe a higher pay for them then the CBD will ultimately be cleaner and the pollution level will drop (hopefully). Like they do in Holland. Also there is lots of garbage left lying around the streets at the end of the day left by coffee shops, cloths stores, restaurants etc. that should be cleaned up immediately, because it attract lots of diseases and looks unpleasantly. Another solution to undertake this problem is to enhance the tree and shrub planting. I think that would be successful, because trees and shrubs photosynthesis producing oxygen so they make the air cleaner. That way we could have more hedges, grass areas etc. and the air will be cleaner. Noise pollution can be sometimes unbearable as well. It is mostly produced by cars, lorries motorbikes etc. There aren’t many solutions to this problem. The main thing is to reduce the amount of vehicles driven in the CBD and this is linked with traffic congestion. The further difficulty the CBD faces is the high cost of land. The land in the CBD is very expensive because lots of shops and businesses locate their stores/offices and it’s become very cramped. Because of this, the competition some traders have had to leave and re-locate their business out-side the city center. Every business wants to set up there because all the people go there either for shopping, work or entertainment, also its easily accessible. One of the solutions I would attempt is to start building high-rise office blocks on a small area, but tall. That way we save space and money because we only pay for the space we take up on the ground. So now more offices can situate their offices in the city center. Another solution for this conflict is the building of out-of-town shopping centers in the suburbs or the rural-urban fringe. They need to take up lots of space so the land is cheap there so they have the money to build there stores there. People then travel there to and back. This process is called decentralization. Also most of them have free parking which is very attractive to customers, as they don’t like paying for the parking space. In conclusion I think that the solution to the CBD’s problems are hard to implement because the CBD is very crowded big, and it involved lots of co-operation from all of the people. Furthermore I don’t think the CBD will ever get rid of it’s problems because it will continue to get bigger and the amount of cars/shops/businesses etc. will always grow, and so will the competition, so it will be impossible to get ride of urban decline , pollution, traffic congestion etc. How to cite Discuss the problems of the Central Business Districts of MEDC cities, Papers

Unhealthy Relationships free essay sample

There are many factors that can destroy a relationship. One of the many causes that relationships brake is because jealousy. Jealousy is an emotion many people feel when they feel they are going to lose something they want. Jealousy is many times the inspiration of music, movies, poems, art, etc. Jealousy can be treated, even though it is not an illness. Jealousy can be caused by insecurity, a traumatic effect in childhood or with another relationship, low-self esteem, fear of loss, or betrayal. It is important to get treated because destroy your relationship. It will help you recognize you have a problem which the feeling of jealousy will continue with every relationship. There are signs to help you recognize you have a problem. Checking your partners e-mail, phone calls, making conclusions on what the partner is doing when you are not with them, reacting possessive over the relationship, and mis- interpreting signs of behavior. We will write a custom essay sample on Unhealthy Relationships or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Many times your mind makes up ideas that are not truth. Something you believe on but not really happening, it is imagined. This is a serious problem and you need help. Jealousy delusion is a false belief that your love one is being unfaithful, but is really not. One example of this is the play Othello by Shakespeare. In this play Othello becomes jealousy with Desdemona making up things between Desdemona his wife and Cassio a close friend of Desdemona that are not truth. Jealousy drives him to kill Desdemona and at the end when he finds out that Desdemona wasn’t unfaithful to him he kills him self. Crimes of passion, where many people has murder because they found their love one with another person. This happened before occasionally crimes of passion are committed as well because jealousy emotion. In a relationship there should be trust between each other. Trust is an important key to functioning in a relationship. If you have trust in your partner then there would be less Jealousy. Trust helps cope with the fear of loss of someone you love. This supported by the journal Trust, Variability, in Relationship Evaluations, and Relationship Process â€Å"Trust involves the juxtaposition of peoples’ loftiest hopes and aspirations in relation to their deepest worries and fears.

201 Week 1 Essay

Psy/201 Week 1 Essay Psy/201 Week 1 Essay My daughter has ADHD (Attention Deficit Hyperactivity Disorder). Some of the problems that I deal with on a daily are lack of attention, failure to follow instructions, loses things easily, and impulsive behaviors. However, having to deal with this, we are dealing with growing pains, her body is growing fast, but her bones are taking their time, so she has some discomfort. With that, her physician told her when she feels pain she may have a pain pill. However this is been a constant problem, every day she has pain. Therefore, I decided to give her a low dose Bayer aspirin, instead of Tylenol. Within less than twenty minutes, she is telling me she is doing just fine. The next couple of days I changed the aspirin to a vitamin, and got the same reaction. For the past 7 months, when she feels pain, she takes a vitamin believing it is a painkiller, and again the same result. In less than twenty minutes, she is feeling no more pain, or discomfort. I used the informal research method of ex perimental research. Psychologist produces a change in one variable to observe the effects of that change on other variables. This is the placebo effect, when a patient has symptoms, they receive what they think is treatment, and their symptoms disseminate. If I had to make this decision again, I am not sure I would handle it the same way again. I personally acknowledge that I am dealing with a child not well; I believe that I am not hurting, but I know I am not helping either, I have seen that

Driving Age essays

Driving Age essays Turning the age of sixteen is a huge step in the life of a teen. When becoming the age of sixteen a new challenge is brought into a persons life, the task of driving a car. But are sixteen year olds ready for this for this task. Driving a car is a task that should only be taken on by teens over the age of eighteen year olds because they are more responsible and understand the risk involved, there brain is underdeveloped and most of the driving they do is unnecessary. In todays society the idea of sixteen and seventeen year olds operating cars has become a way of life. But if one stops to think about it there is no need for these drivers to be on the road. Most of these drivers still live at home and have no job because theyre still in school. So they have no job to drive to or from. To go to school they can take the bus or be dropped off by their parents. From past experiences when I was this age I know how much useless driving I use to do. In Atlanta there is a huge problem with smog that is caused by to many cars on the road. The Department of transportation is always thinking up new ways to resolve this problem. The months when school is in session is when smog is at its highest. By taking these drivers off the road it would cut down on smog because they would be forced to ride the bus. When I was sixteen me and my friends use to load up in a car and just drive around town all night. Most of the time we would end up doing stuff to get in trouble. Another problem with these drivers is they are very irresponsible and put other drivers in danger on the road in danger. Recent statistics show that most drivers who are caught speeding or involved in automobile accidents are under the age of eighteen. This is because the drivers have no responsibility and cannot handle the task of driving a car. In Georgia congress members have noticed this problem and are working on an amendm ...

SWOT Analysis of Hewlett Packard Essay Example | Topics and Well Written Essays - 750 words

SWOT Analysis of Hewlett Packard - Essay Example HP has the ability to manufacture new designs and innovations of personal computers and accessories such as printers at affordable costs. Moreover, the company’s after sales services provide the best services to their customers hence increasing their loyalty. After sales service centers and helplines reduce many customer problems (Kern et al, 23). Weaknesses Hewlett Packard’s lack of presence in some major market segments limits its profitability in some countries. In spite of its outstanding portfolio, HP does not have significant production of software products as compared to major competitors such as IBM. Some of its competitors produce smart software products and offer extensive consultation services to their customers. A substantial percentage of its income (29%) is obtained from its personal systems division. Therefore, it does not command the market of industrial and large organizations that use highly sophisticated computing devices. The company mostly develops personal computers is already encountering competition from new players in the industry such as Lenovo. It has poor presence in the tablets market where many of its competitors are gaining ground. It is also facing competition in the manufacture of printers from other companies including Epson and Samsung.

The Way Incentives Work and Types of Motivation Problems Research Paper

The Way Incentives Work and Types of Motivation Problems - Research Paper Example Every incentive program is based on a formula for enhancing motivation that engages four fundamental variables: effort, performance, outcomes, and satisfaction. The logic behind these programs goes something like this: employees at Property Management Company will put in the accurate quantity of effort to meet performance hopes if these part-time employees at the small privately owned property management company obtain the types of outcomes that include pay raises and promotions which will provide part-time employees satisfaction. (Hanlan Marc, 2004) In simpler words, the property management company should provide its employees what they want, and employees will work hard to get it. Conversely, the problem with most incentive programs like of Property management company is that they center exclusively on the submission of outcomes and overlook the three beliefs that are the key to making the motivation solution work: The first conviction compacts with the relationship between employee effort and performance. The second compacts with the relationship between performance and outcomes. And the third compacts with the relationship between outcomes and satisfaction. These three beliefs form the basis of the belief system of motivation and performance. Accepting that these beliefs are decisive preconditions for motivation helps to explain why incentive programs generally yield such lackluster results like in case of Property Management Company Since employees do not always hold these beliefs to be true, attempts to improve motivation by using incentives cannot make the grade, even when the incentives are highly desirable ones. (Thomas, 2004)

Business Environment Analysis of British Airways Essay - 2

Business Environment Analysis of British Airways - Essay Example British airways vision is to encourage achieving values that are very important for the organization (Katie, 2013). The organization values to achieve acceptable standards to govern individual behavior in the organization. The organizations are running their businesses all over the world. The main purpose of these organizations is to fulfill the basic needs of the human and to give good impact on the world. The businesses usually established in order to prevent or improve the human life. Many organizations in the world understand the management of organization and explicit verity of decisions making to provide direction to the organization (Bryson, 2011). The organizational purpose is to take verify of the decisions for the insiders and communicate with the outsiders. In the private sector, the organization is not part of the government. Whereas, the public sector organization, is owned and operated by the government. British Airways is originally a privately owned aviation organization that was nationalized in 1939. British airways merge the financial losses and industrial operations privately (Heinz & Pitfield, 2011). In an organization, the stakeholder relationship model make connections between the organization and its stakeholders. It is essential for the organization to establish a good understanding with the stakeholder in order to raise the profit and organizational profile. There are many stakeholders of British airways, including customers, employees, competitors, suppliers, media, environmental issues, local communities, financial institutions, shareholders, government etc (Balmer, Illia, & Brena, 2013). Below few stakeholders are discussed. The customers are the major source of earning profits for the organization, and these customers have high impact on the management of the organization. The British airways always try to attract the existing customers and move forward to attract the young or new audience. The British airways have the

The History Of Hotel Radisson Marketing Essay

The History Of Hotel Radisson Marketing Essay For my course I have come up with a strategic plan or business plan of a hotel business. I have been asked to choose a travel and tourism organization and discuss about its position in travel industry, doing its marketing research and report and its sustainability and corporate social responsibility. So in this report I will try to focus n the operation and the management issues in tourism from an industrial point of view. For my product, I have chosen to use an already existing brand name in hotel and tourism industry Radisson Blue, formerly Radisson SAS, is the brand name for  Radisson Hotels  outside the United States, including those in Europe, Africa, and Asia. This report is divided in four sections as in first section Radisson Blu hotels position in the tourism industry is analyzed and focuses is given on the stakeholders and macro environmental issues. The second marketing report section focus has been given on Radissons business strategy especially on its products and di fferent strategies of pricing and proportioning and distribution. Marketing mix is discussed in that section from Radissons perspective. The following section contains the hotels performance evaluation through employee and customers satisfaction survey. A research plan has been set; two sets of open ended questionnaire have been structured and data been collected from customers of two Hotels establishment of Radisson located in London. All the data found from primary and secondary sources been analyzed and on that basis recommendation has been given. In the last section corporate social responsibility issue has been discussed in Radissons perspective. The questionnaire samples have been included in the appendix end of the report. Introduction of Radisson Blue hotel: Radisson Hotels Resorts is one of the leading, full-service global hotel companies. It has its business over 420 locations in 73 countries.   They are passionate about Yes I Can! service philosophy which empowering the employees to make sure that they are entirely satisfied for the duration of the stay. This is a major international hotel company. The first Radisson hotel was founded on December 15th, 1909 in South Seventh Street in Minneapolis, Minnesota. It was specified named after 17th century French traveler Pierre-Esprit Radisson. In 1962 the establishment was bought by Curt Carlson (1914-1999) as it is still owned by Carlson. With the headquarters of the parent company Carlson; the companies is located on the suburbs of Minneapolis, Minnesota, the city where the first Radisson Hotel was built. The company started the business with around 250 staffs. Fifty feminine staff survived in the hotel as did some of the chefs. (Task 1-Situation Analysis) 1-a) Radisson and sectors of travel and tourism industry: The tourism business is based on numerous dissimilar components and they are interconnected. Many businesses cover more than one segment and the impact in one element of the tourism industry has noteworthy implication for additional sector. The tourism industry has been separated into several unlike sectors. Such as: Accommodation Adventure and recreation Attraction Food and beverage Events and conference Transportation Travel and trade. All these sectors are interrelated and as a travel and tourism company Radisson is spreading its business through almost all sectors in tourism by generating job opportunities and its unique services to the customers especially in accommodation, events and conferences, travel trade and food and beverage sectors. 1-b) Stakeholders and their interest: A stakeholder is any personality or group who can affect or is affected by the actions, decisions, policies, practices, or goals of the organization. (Freeman 1984, 25). The person or group has interest through the overall activities of the business. And they are classified into internal and external stakeholders. Figure 1: Stakeholder analysis (Marlene Gundlach, 3/22/2011)http://img.bhs4.com/90/d/90d78332987fa6def2305690485f6646d2d944b4_large.jpg Internal stakeholders are those from contained by the industry, e.g. shareholders, managers and the employees. In case of hotel Radisson, the internal stakeholders are managers, staff and employees of the hotel, and there is no doubt that the owners are the most important stakeholders among all of them. The staff and employees get the remunerated from business in a straight line and do service for the business and thus are classified as internal stakeholders. As a definition of business dictionary the external stakeholders are such as suppliers, government, financiers that influence and are influenced by organization but are not its internal part. Radissons key external stakeholders are its 1.Customers 2.Suppliers 3.Media 4.Shareholders 5.Government 6.Banks 7.CommunityGroups 8. NGOs As the main internal stakeholder of hotel Radisson the owners are always concerned about the growth and profit the business establishment is making in a year. The managers are deeply concern about their performance and salary. On the other hand as external stakeholder Shareholders play very important roles for hotel Radisson because they have contribution on the capital to the business and look ahead to share from the profit. Radisson needs the support of shareholders to make available funds to increase the business. Shareholders have a straight interest in considering the business develop into more productivity. Government and regulatory also set a variety of technical and lawful necessities. Radisson must execute with strategy and rules put by the governments and hotel company scheme in the countries in which it activates. Customers always desire Radisson to make available high standard service at a sensible value. The Community also has a stake in the Radissons dealing as employer of neighboring people. Business activity does affect the local surroundings. 1-c) The Macro environment The macro environmental factors include all the aspects influencing an organization. It is the external and uncontrollable factors that influence a companys development. An industry must be acquainted with the worth of each of the macro environment factors; such as, economic, demographics, and lifestyle, technology and natural forces. In our case Radisson should study all the macro environment factors before it set up a new business in at any place in the world as each of the forces has effect on the market. The radical and ongoing changes occurring in society create an uncertain environment and have an impact on the function of the whole  organization (Tsiakkiros, 2002). It is constantly changing, and the big business needs to be stretchy to take up with it. Radisson HotelTo help analysis this factors managers can categories them using the PESTEL model. Social Cultural Technological Political Legal Economic Demographic Figure 2: The overview of Macro Environment Radisson hotel. (Field work) Economic Trends:  Changeability in personal disposable income, inflation and interest rate and the rate of unemployment are generally focused in the macroeconomic environmental analysis. The recent growth of GDP in central Europe has made luxury of hotel Radisson more reasonable to the common public. Another constructive feature for the hotel is the luxury accommodation sector is mostly unaffected by the 2007 recession (Kiessling, Balekjian, Oehmichen, 2009). But intermittent exchange rates, the inflation and tax rates pose negative impact to the tourism industry. Political and Legal Trends:  The macro political environment analysis will identify changes in the position politicians take on issues. A current example is a shift towards greener policies in the developed world. The macro legal environment analysis is closely linked to the political environment (politicians tend to make the laws), but also includes trends in court decisions such as liability compensation. As a luxury accommodation sector hotel Radisson gets huge government incentives for the development of new hotel projects, as new hotels will ultimately increase a countrys GDP. On the other hand government charge big amount of taxes on the star categorisation of the hotel. As a hotel within the UK hotel Radisson must comply with all health and safety laws and suffers from serious consequences if not obeyed Technological Trends:  The macro technological environment analysis will identify changes in the application of technology. A current example is a shift towards online transactions and in some areas a shift away from online transactions. New spa facilities and new Illness treatment concepts of hotel Radisson are beneficial for any spa, as they attract potential customers. Social/Cultural Trends:  The macro social/cultural environment analysis will identify trends in societys beliefs, behaviours, values and norms. Change of lifestyle: People take less time off for holidays, but spend more money on shorter trips such as Iekend luxury spa packages. Demographic Trends:  The macro demographic analysis identifies trends in population growth at relevant ages for your industry the population location. So, PESTEL environment is so important for Radisson hotel business. As it identifies the opportunities and threats that lie within it. By understanding the environment in which Radisson is operating the business opportunities can be taken advantage of and threats can be minimized 1-d) Marketing Issues For a business it is necessary to understand its issues both external and internal or situation including its own capability, customers and the market environment to set its aim to satisfy customers need in a profitable manner. It need to also focus on its changing environment where it operates its business. Marketing issues are the highest priority problems that have negative impact on selling and advertising of a business. It is mandatory for any business establishment to identify the key dealing issues as it helps the managers to frame their managerial activities and implementing their decision. 5c analysis is a very useful structure to undergo a situation analysis. Its an environmental scan of the major 5 key areas of marketing decision making including internal, micro and macro environmental issues. Like all other business establishment Radisson hotels situation issues focus on 5C. As means Figure 3: 5C issues for Radisson (Lecture note) Company: Company breakdown is sanction for the evaluation of the companys purpose, policy, and aptitude. These parts identify to a Radisson hotel corporation on the plot of the business model. Radisson as a product and image of the hotel in the travel and tourism industry, the technology it is using and experiencing and on the end its objective comprises company issues. Competitor: The competitors position in a business establishment and the threat that that can be potentially posed by this competitors is taken into consideration in competitor analysis. This is an analysis enabling the business to identify the potential and current competitors and their capabilities. For my selected company Radisson Blu major competitors are Hilton, Sheraton and Marriott. From that perspective identifying and assessing the competitors as well as predicting future initiative of theses competitors is necessary for the business growth of hotel Radisson. These early insight of the potential activities of Hilton, Sheraton and hotel Marriott will keep Radisson prepared against the competition posed by them. Customers: Its can be massive and complicated. Significant part of this scrutiny likes; Demographic Wants needs Income level Market size growth Motivation Distribution, etc. Collaborator: Distributors, suppliers and alliances comprises the collaborators issue. It determines if there are any external sources or facility is available to assist the company goal. Collaborators are always ready to lend their extended Radisson as they let for a move up in the edifice of thoughts, when lifts up in the opportunity of in advance new sponsorship identification. Radisson always maintains warm approach to its collaborators. It celebrates the birthdays of its collaborators on a monthly basis and special lunch and present been arranged to make them happy. Climate: Climate is imperative concern in any big business. It comprises all the macro environmental factors including political and regulator, social and cultural and economic environment. Most of the climate issues been referred to the pest analysis. Radissons pest analysis is broken down in the above section. (Task 2 Marketing Report) 2-a): Segmenting Targeting and positioning: (STP) applied by Radisson and its main product or service. Segmentation: Market segmentation is personalising the marketplace into subgroup based on comparable description of customer. Market segmentation can be completed by undertaking a do research and analyzing the results of the customers needs or wants. There are four types of market segmentation strategies:    I. Behaviour segmentation behaviour segmentation is the dissection of the customers in accordance with their life style of the, pattern of exchange or purchasing and using their money.    II. Demographic segmentation in this segment customers are divided according to their demographic status as married, divorced, single or widowed. Each group is treated separately and differently. III. Geographic segmentation -in this method customers are classified according to the area, region, state and district they live in.    IV. Physiographic segmentation physiographic segmentation is like the behavioural segmentation with some dissimilarity of including customers attitudes, expectations and activities. Radisson uses subdivision marketing process where the market is separated into sub-groups and these groups are given dissimilar hotel services. As an Ill known brand, Radisson for the most part serves to the advanced income earners of different countries. Since Radisson hotels comprise hotels in several countries and work internationally by capturing most of market share of not only state but also global market, as a result the market is divided internationally different countries and diverse culture of different countries. Targeting- After dividing the market into subgroups customers are selected according to their requirements and if they go with with the resources obtainable to the firm. Hence, targeting is a procedure that takes place after segmentation is completed. Radisson provides services to only those who can manage to pay for to pay for high end lavishness services. Thus, a new target market of recently Added couples fit best with the resources (services) Radisson can provide. The rate per night is surely being high enough and the suits provided could be changed for fitting a honeymoon couples needs. At present, Radisson serves mainly to business class travellers and highly educated and high income earners. Mostly these customers visit Radisson regularly but not with their families. Thus the new target of newly Added couples will be a profitable idea for Radisson. Market positioning: Market positioning is introduction of a product into a exacting position in a marketplace by referring to the users perception. Positioning is an indispensable implement that as it allows the customers to generate their personal observation of the product. The illustration in their mind is the representative of the clients and this make them encompass the potential of to choose a superior product. Radisson before now has a trademark image of its own in its customers intellect of being extremely Ill presumed hotels providing services to principally elevated takings earners. At current, Radissons aim to most of its clients is providing facility to most trade person. Radisson is not prepared for wedded couples yet. After targeting a new market section of the newly married couples, Radisson needs to as Ill make an intuition on its hotels as being the ideal one for the wedded couples. It is also extremely necessary to look for the competitor while incoming this new marketplace. Radisson must place itself in a worse form than its competitor while beginning the deal as they have to generate an image such as Best for the Best. 2-b): Pricing strategies: Due to the competition of five star hotels industry in worldwide that is going to be tighter and tighter, many five star    hotels conduct particular pricing strategy to yield even greater profit besides using basic pricing. In some markets, managers can enhance profits above those they would earn by simply charging a single per-unit price to all consumers. In our chosen hotel Industry Radisson several pricing strategy have been followed as few of them listed below: Price discrimination   Price discrimination is the practice of charging different prices to consumers of the same service. In this case, hotels can earn higher profit by charging different prices for the same service. In some cases hotel offers special discounts for consumers who will book rooms and pay it with credit cards. In this way they are able to charge different prices to different consumers depending on each consumers willingness and ability to pay. Peak-load pricing Most hotels have periods in which demand is high and periods in which demand is low. For example, when holiday season, number of urban people from outside Jakarta, such as Medan and Surabaya, prefer going to the capital city, Jakarta, to travelling during short holiday periods, mainly due to their constraint budgets and limited time.    As a consequence, four and five star hotels located in Jakartas Central Business District and shopping area, such as Mulia and    Grand Hyatt, gain more benefits Commodity bundling A significant amount of sales revenue of hotels in Indonesia also comes from the usage of ballrooms and meeting rooms.    Ballrooms are particularly popular for Idding occasions and special corporate events; while meeting rooms are often chosen by corporate and governmental departments from other provinces as places to meet up.    For example, five-star hotels offer Idding package for Idding occasions, not only ballroom as place for the occasion but also other services, such as catering, pre-Idding photo, and parking voucher. All those services are grouped together into a bundle and price charged to customers depends on the service offerings. Table VIII describes various Idding packages which are offered by Borobudur Hotel. Block Pricing: By packaging units of a product and selling them as one package, hotels can earn more profit than by selling per unit price of service. They have to pack identical services together and offer loIr price than per-unit of service. This pricing strategy called block pricing which identical product are packaged together by forcing consumers to make all-or-none decision to purchase. This way is expected to be able to increase profit received by a hotel. Price matching: In hotel industry, pricing strategy is one thing that can be used to attract consumers. Each hotel competes to satisfy its customers while it also earns more profit on that. But, in cases where trigger strategy does not work, there is another way that can be used by hotels to attain higher profit. A hotel can use a price matching strategy to advertise a price and promise to match any Loir price offered by a competitor. With our Best Rates Guarantee you can book any hotel at  radissonblu.com  and be confident you are receiving the best hotel room rate available on the IB guaranteed. If you find a Loir rate within 24 hours of booking and at least 48 hours prior to your arrival date, submit a claim and I will honor the Loir rate and discount it by 25%. Book today! 2-c): The promotional and distribution mix: Promotion mix is the combination of advertising, sales promotion, public relations, personal selling and direct marketing tools that a company uses to communicate value and build relationships. (Kotler Armstrong, 2008). A disinterested mix of this aspect is needed to put together and retain cost-effective customer interaction.   Radisson has focused on promotion policies that relate to customers at a individual level, because of this it has stay left from mass advertising and mass medium outlet, and has decided on an close communication approach in order to preserve a connection with consumers on a private level. Also, sale promotions such as coupon are sent using online mail list. Radisson at present has an conventional email list, where it update consumers on the subject of new product, promotion, and events happen. Radisson is pretty discerning in choose electronic Medias. It chooses the exact media for the promotion of advertisement, as a customer can understand. As an example Radisson uses newspaper Jakarta post demonstrating accurate media at foreign market booth and FM smart for radio. Several distribution channels can be used to as a distribution strategy for a service industry like Radisson to bring out a new product or promotion to the customers. Companies may focus on a particular channel as a distribution strategy but sometimes selecting or using several channels help the company to maximise the link between customers and them; as consumers has more option to chose from and the service is available in different forms. In a service industry Radisson operates its distribution as direct sales in personal and through internet. As customer can book their rooms through internet and always get the update of new product and promotions. 2-d): 3ps of extended marketing mix: The marketing mix is the premeditated or prepared part of a marketing arrangement. The marketing mix is à ¢Ã¢â€š ¬Ã‚ ¦ the set of controllable set of tactical marketing tools product, price, place and promotion- that the firm blends to produce the response it wants in the target market. Kotler and Armstrong (2010) It is also called as 4ps the 7Ps. The 4Ps are price,  place,  product  and  promotion. The  services marketing mix  is also called the 7Ps and includes the addition of  process,  people  and  physical evidence. Services Marketing Mix refers to the amalgamation of promotion activities associations engage in to prop up and sell ethereal service, as contrasting to physical goods. Marketing professional and individual use numerous strategies to create a center of attention and preserve their consumers. These actions encompass of diverse perceptions, the most significant one being the marketing blend. Marketing tactic is incorporated with the selling program, or marketing mix. The marketing mixes conventionally include variables such as price, product, promotion, and place. Here is an extend to conceptualize the function of the supplementary 3Ps and how they ought to be managed, in particular in the service business like hotel Radisson Blue. People: Referring to the distinctiveness of services discussed, services are not concrete and necessitate be forming and using concurrently. The value of people in the service delivery system becomes extremely important in the co-creation of value. (Gabriel, 2005). Consumers connect the charge of the service to the distinctiveness of the service contributor. This involves a remarkable need for the service provider to comprehend their involvement to the service eminence. If there is a divergence of the predictable assessment by the consumers to what the consumers are presented, there will be a discernment breach. Physical Aspects: Physical aspect sometimes termed as customer service. It has got the place at the circle of the expanded marketing mix as it got significant impact on the other components of extended marketing mix. That is the only tangible part of the service a hotel can provide. As for instance for our case studies hotel Radisson Blue the compactness and tidiness of the reception desk, the rooms and other amenities outline component of the physical feature of the service. The character of the service deliverance together with the lead-time is as Ill part of the consumer service. Customer service does have an effect on the other apparatus because it is almost the amalgamation of the presentation of all workings of expanded marketing mix. Process: The service provider need to be sound conversant of the means the service is breed and delivered to the consumers. In this case the feature of message, communication purpose and strategy forms components of process information. There should not be mystification connecting this constituent of marketing blend and that of customary marketing mix up, promotion. Process information is concerning the temperament of the service formation and deliverance structure while advertising is about informing potential and existing consumers about the accessibility of the product-service. Since consumers are not able to see the service they will construct assurance on the in sequence set to them by service provider about the entire procedure about the service. Some consumers are confrontational, so they will require details regarding the procedure of the service. Once the service contributor is not in no doubt about the in sequence he is giving about the service of the method, customers can entity th e offer. The poIr of IT needs to be incorporated in this constituent as it can pace up the accessibility of the information consequently a good client service to consumers. (TASK 3-Market Research): The American Marketing Association (AMA) has given the most widely accepted definition of marketing. The AMA has defined marketing research as the systematic gathering, recording and analyzing of data about problems relating to the marketing of goods and services In this paper I will discuss the process used in marketing research planning. There are eight steps to take in this process, identifying the problem, creation of the research design,    choosing the method of research, selection of the sampling procedure, collection of data, analysis of the data, writing and presenting the report, and follow up. These steps will insure that the data collected answered the right problem and is useful to the client.    Step 1: Identifying the Problem : Identifying the setback is the first stride in the marketing research planning course of action.    It is must to find out what kind of data I are looking for. Descriptive is the kind of study that asks who what where when and how.    The causal studies ask us more they why, they follow the line of thinking that if one variable changes then the other will alter in a unwiring way.  In this paper I will focus mainly on customers satisfaction about the service of hotel Radisson. Customer like the complimentary advertisement, they can bypass the information by word of mouth. There is research point towards that if you lose a loyalty consumer you may lose 100 possible customers. So, gratify the client is very imperative for the hotel. Last, but not least, for the hotel, consumer is not only consign to the consumers but also refer to the member of staff. Employee is very imperative for the hotel, because they develop Customer Satisfaction endow with the service, the excellence of the service resolve the exterior customers satisfaction. If I want develop the contentment of peripheral customers, I first have to get better the interior employees contentment. All in all, the customer is god; as a hotel Radisson should try their best to gratify the customers. Hotel must find the resourceful ways to keep happy the customers, who help them, make money and win in the rivalry. Step 2: Research Design Any research needs a plan or a formation before data assortment or scrutiny can instigate. A research design is not in a minute a work graph. A work sketch details what has to be completed to complete the assignment but the work plan will flow from the projects research design. The purpose of a research design is to make certain that the confirmation obtained enable us to respond the preliminary question as unequivocally as possible. Step 3: Method of Research Choosing The means of research is to find out what kind of way I will use to collect data.    The three fundamental methods are survey, observation and experiment.    A survey is a where the accomplice is asked a quantity of question, such as a mail survey. Observation is to monitor without straight communication, such as inspecting peoples habits at the shopping centre.    Experiments are type of examine that are defined by the experimenter altering one or more variables. In this paper two sets of Ill developed questionnaire have been structured to evaluate the views of both employees and customers. Step 4: Sampling Procedure Selection of the sampling system is picking out a assembly of people to research. At period it could be very much sturdy to get internal information of the hotel. So I have to select some of very knowledgeable and cordial human resources of hotel Radisson and accumulate the required data. Beside this, I will use internet and conducting e-mail communication to pull together some of the information. Step 5: Collecting Data (primary and secondary) Data are of two types : primary and secondary . Primary Data are those which are composed or collected a new and for the foremost time and thus come about to be unique in nature. On the other hand for secondary data its nature of collecting is purely that    of impediment. primary data is collected through observation and interview method through questionnaire and schedules. On contrary the collection process of secondary data is accomplished by or from various publication of the local government and state or state publication. The secondary data can be collected from the technical and trade journal, books, newspaper and different magazines as Ill as from reports. In my research study I used primary data and I composed it through the questionnaire methods, I collected these data from London. Step 6: Analyzing the Data and presenting the report: Analysis of the data is where I break down the composed data and try to find contacts and of pattern in it to help come back with the research predicament that I started with. One of the most important is, writing and presenting the report. The person heading up the research will have to make sure that the information and recommendation is both credible and justified by the data, if he wants the recommendation to be followed.    The report can be presented in many different ways such as a printed report, digital report, a presentation, or even a combination of them all. Step 7: Following up Follow up with the firm, make sure that the research is being used and interpreted correctly. A good way make sure that the information is going to be used is to make it so each department dont conflict with the others.    Also doing these kinds of follow up can let management know that the researcher does care about the work that was done for the company. For my case study for Radisson Blu

Breast Cancer Essay -- Health Disease Essays Papers Prevention

Breast Cancer Cancer is one of the leading causes of death in the United States. There are many different types of cancer that are affecting people all over. Breast Cancer is one of these, and is found in man and women. Over 200,000 women and 1,300 men have been diagnosed with breast cancer this year. One in eight women will detect breast cancer in their lifetime. Men are less than one percent of the cases of breast cancer that are detected. Although prevention is not yet available, early detection is the best way to handle breast cancer, which can be treated in many ways. Breast cancer is a malignant tumor found in the glandular tissue of the breast. This tumor is called a carcinoma, which causes a single abnormal cell to multiple at rapid rates. A malignant tumor damages tissue and can spread. Cancer spreads when it breaks away and gets into the bloodstream. The tumor can be removed but there is still a possibility that they will grow back. When breast cancer spreads it is called metastatic breast cancer. If it is a benign tumor it is non cancerous, will not spread, but could damage some tissue. They are also not life- threatening and can be removed, which they rarely grow back. Breasts are glands that can produce milk. There are two main types of breast cancer, ductal carcinoma and lobular carcinoma. Ductal carcinoma is cancer in the lining of milk ducts of the breast. Lobular carcinoma is cancer in the lobules where breast milk is produced. There has not been a way detected to prevent breast cancer yet. The best way to protect you against breast cancer is by getting a mammogram at age 35 and once a year after age 40. Also you should perform a self-exam of the breast each month after age 20 f... ...nemia. There is a five-year survival rate for women with breast cancer. The percentage of survival has risen from 72 to 96. If the cancer has spread to other tissue then the rate goes down to 78. The hope of recovering from the diagnosis of breast cancer is extremely high. Women are becoming a lot more optimistic about being diagnosis with breast cancer. It is highly recommended that they see a physician regularly and give them themselves self-breast examinations. Breast cancer kills about 39, 800 women a year and about 400 men. Self-examination is one way to detect breast cancer early and give you a better chance of recovering from it. Many treatments are available and can help get rid of breast cancer. Even though there is no prevention for this cancer yet, detecting symptoms early and receiving treatment is the best way to get rid of breast cancer.

Nathaniel Hawthorne and the Great Stone Face

NATHANIEL HAWTHORNE AND THE GREAT STONE FACE RALPH TRANGIA MRS. ARAGON HS4-8 In this paper, every OPINION from someone else has been acknowledge in a parenthetical citation. I realize that the mere presence of a parenthetical citation does not avoid plagiarism. If I have used the exact words, phrases, clauses, or sentences from someone else, I have enclosed that information in quotation marks. If I have paraphrased the opinions of someone else, I have not enclosed the paraphrased portions in quotation marks; but I have stated those opinions in my own words. I have also introduced the paraphrase and have a parenthetical citation to acknowledge the source. ALL FACTUAL INFORMATION (common knowledge or uncontested knowledge), though not credited with a parenthetical citation, has been stated in my sentence structure. I have not used anyone else’s organization of the factual information. Signed:_______________________ Nathaniel Hawthorne And The Great Stone I. Author Background A. Early Life 1. Born in Salem, Massachusets 2. His legs were hit while playing â€Å"bat and ball† 3. Became lame and unable to walk 4. Due to being lame he was able to read many books and this is when he got his some stories B. Education 1. Attended Bowdoin College 2. Became classmate with Longfellow and President F. Pierce 3. Refused to take public speaking C. Career 1. Chosen as the American Adviser at Liverpool England 2. Was given the position as a Surveyor in 1846 D. Achievements 1. Anonymously, Hawthorne’s early stories were published 2. In 1837, the publication of twice told tales somewhat lifted this spell of darkness 3. Hawthorne’s short stories became the best of American classics. . The Great Stone Face 5. Scarlet Letter Nathaniel Hawthorne was one of America’s best writers. Born in Salem, Massachusets on July 4 1804, he grew up with keen awareness of his religious Puritan family, a understanding which inspired many of his works and achievements. He started his career as writer after he graduated in Bowdoin College. For a mean time Hawthorne was picked as surveyor of customs in Salem and later on, a American consul to Liverpool, England. During his free time, he wrote stories and stories.

Free Essays on Everglades

The Everglades The Everglades are the largest remaining subtropical wilderness in North America and have increased in size from the original 460,000 acres to 109,493.10 acres in just sixty six years. They stretch southward from Lake Okeechobee to the Bay of Florida and the Gulf of Mexico and are consumed with mystery and beauty. Inside lie a succession of plant and animal wildlife found nowhere else in the world (Doner 1). It is one of the country’s richest biological preserves and through hard work will remain to exist. The Everglades have produced many needs to be met along with the plants and animals that inhabit them. To fully understand the diversity of the Everglades, a general knowledge of how they came to be is essential. Surprisingly young, the Everglades were only formed within the last 5,000 years (2). The movement of tectonic plates first formed the base while the expansion and contraction of ice sheets slowly accumulated to form the aquatic system. Only after the end of the Wisconsin glacier did the birth of the peninsula come to be; it was then the interrelationship between the organic rock of the ancient seafloor and the waters of today’s modern ocean begin to form the Everglades. There are three elements that created the Everglades and they are rock, water and fire (McCally 1-2). One important element is rock because it is the foundation on which the Everglades rest. It can be divided into three categories: 1) basement rock 2) marine sediments and 3) Ice Age Strata. Each of these categories played an important role in the formation of the Everglades (Molloy 1). The basement rock was at one-time piece of Africa that provided the base for the westerly direction of drainage. However the second allowed numerous generations of marine animals to give their bodies to the limestone and finally the third rose the level of the sea and provided both the sandy formations and the limestone bedrock (McCally 2-4)... Free Essays on Everglades Free Essays on Everglades The Everglades The Everglades are the largest remaining subtropical wilderness in North America and have increased in size from the original 460,000 acres to 109,493.10 acres in just sixty six years. They stretch southward from Lake Okeechobee to the Bay of Florida and the Gulf of Mexico and are consumed with mystery and beauty. Inside lie a succession of plant and animal wildlife found nowhere else in the world (Doner 1). It is one of the country’s richest biological preserves and through hard work will remain to exist. The Everglades have produced many needs to be met along with the plants and animals that inhabit them. To fully understand the diversity of the Everglades, a general knowledge of how they came to be is essential. Surprisingly young, the Everglades were only formed within the last 5,000 years (2). The movement of tectonic plates first formed the base while the expansion and contraction of ice sheets slowly accumulated to form the aquatic system. Only after the end of the Wisconsin glacier did the birth of the peninsula come to be; it was then the interrelationship between the organic rock of the ancient seafloor and the waters of today’s modern ocean begin to form the Everglades. There are three elements that created the Everglades and they are rock, water and fire (McCally 1-2). One important element is rock because it is the foundation on which the Everglades rest. It can be divided into three categories: 1) basement rock 2) marine sediments and 3) Ice Age Strata. Each of these categories played an important role in the formation of the Everglades (Molloy 1). The basement rock was at one-time piece of Africa that provided the base for the westerly direction of drainage. However the second allowed numerous generations of marine animals to give their bodies to the limestone and finally the third rose the level of the sea and provided both the sandy formations and the limestone bedrock (McCally 2-4)...

Macolm X Essays - Religion In The United States, Free Essays

Macolm X Essays - Religion In The United States, Free Essays Macolm X A man was brought into this world on May 19,1925 to serve his people and help them open many doors. This man started of as a nobody and is now known to the world as being one of Americas greatest Civil Rights leaders. Malcolm X Little was the 4th child born to Reverend Earl and Louise Little. He also had 3 half siblings. His dad believed in self-determination and worked for the unity of black people and tried to teach Malcolm the same way. His dad tried to raise Malcolm to be aware of his ethnic background and dignity. Violence was always sparked by white people that were trying to stop black people such as Rev. Little. (Malcolms father) After he was born his family quite a few times before he they finally settled in Lansing, Michigan. His father became active in the University of Negro improvements Assoc. he also go involved in the Black Baptist Church. Throughout Malcolms life he was dedicated to black people. I guess you could say that he followed in the footsteps of his father. Even though Malcolm, his brothers, sisters, and parents were all shot, burned out of their homes, harassed, and threatened they still fought for their freedom and for what they believed in. This culminated in the assassination of his father by the white people. When Malcolm was only 6 years of age his father was shot and died. Although all this happened to Malcolm throughout his life he still continued to go to school. HE graduated 8th grade with good grades, just as he thought his father would have wanted him to do. At the age of 15 Malcolm dropped out of school and began to learn the ways of the streets. He became acquainted with hoodlums, thieves, dope peddlers, and pimps. When he was twenty Malcolm was convicted of burglary, and he remained in prison till he was 27. While he was in prison he began to educated himself and he learned about and joined the Nation of Islam. He studied the teachings of Elijah Muhammad fully. In 1952 he was released a changed man. When he was released he went to Detroit and he joined the daily activity of the sect and was given instructions by Elijah Muhammad himself. After the teachings of Muhammad he changed his name to Al-Haji Malik El-Shabazz. His commitment helped build the organization nation-wide, while making him and international figure. He was interviewed for TV programs and by magazines and spoke across America at many different universities and other forums. Malcolms power was in his words. Here is just a few of Malcolms most powerful words. I feel like a man who had been asleep somewhat and under someone elses control. I feel what Im saying now id for myself. Before, it was for and by guidance of another, now I think with my own mind. This means he took in all the information that people said, and used it as his own knowledge. He used to listen to what people would say and learn from what they said. Then one day he woke up and decided that he was the man in control and he has enough power to fight for what he believed in. Another great speech that Malcolm made was this one: This letter showed how he visited a country where all people were treated and that they have never heard of the word racist. He thought it was so amazing that people of all different ethnic beliefs could all eat of the same plate and drink from the same glass. His experience there was so amazing that he wanted the whole world to know how it was. Before his trip described in the letter above Malcolm was vehemently anti-white. He did not like whites and he believed that they were hell raisers and they had no more of a right to ridicule him than he does to ridicule them. He was taught as a child to hate whites so that is what he grew up believing. But after his trip to Abraham he came to see that all people were equal, regardless of their race. True anti-racism is color blindness. Thats what he spoke about when

Professional Development Plan Assignment Example | Topics and Well Written Essays - 500 words

Professional Development Plan - Assignment Example This is something I want to continue for the rest of my life; because what benefit my profession is going to be of if it is not being done with its true essence. Of handling patients As much as I value my personal professional progress I respect the aura of my profession equally. I want to it with confidence and successfully. To serve on the managerial level has always been one of my most desired dreams. I believe I can utilize my leadership skills to the most by serving at a managerial position, it will not only be a good move for my personal professional career but I will also be beneficial for my organization. I will achieve this goal by keeping a balance between my studies and work life during my masters. By gaining more work experience along with my MSN I first want to become Manager Nursing at my facility and then eventually achieve my ultimate goal. These are some major goals which I want to achieve in the coming three years of my life confidently. Strong motivation and confidence will lead towards a successful professional development for individuals (Mackay, 2007). These may seem just three goals but my entire professional future depends on the successful achievement of these goals. And in order to achieve these goals I will have to achieve small targets almost every single day, because these small everyday goals are going to make up basis for the fulfillment of these major goals of my life (Ryan, 2012). Hansen, R.S. and Hansen, K. (2008). What Do Employers Really Want? Top Skills and Values Employers Seek from Job-Seekers. [Online]. Available at: http://www.quintcareers.com/job_skills_values.html (Accessed 26 January

Role of the U.S. President Franklin Delano Roosevelt on America and Essay - 1

Role of the U.S. President Franklin Delano Roosevelt on America and the World - Essay Example This paper illustrates that Franklin Delano Roosevelt had a very long presidency, lasting three terms, which is unusual since American presidents normally only have one or two terms.   He belonged to the Democrat party and introduced many reforms to include the famous â€Å"New Deal† which aimed to get people back to work after the Depression. In his work abroad he was respected for his diplomacy and he certainly is responsible for helping to bring the Second World War to an end. Franklin Delano Roosevelt, as his family name suggests, belonged to a family of Dutch descent. They traced their roots back to the early settlers of America in the region in and around New York and to a Dutch farmer called Nicholas Claes Martenzen von Rosenvelt who came from Holland right at the beginning of the settlement period, in the early 1600s. Franklin D. Roosevelt’s parents were wealthy and they lived in the upper-class Hudson River area. Both James Franklin and Sara Delano had inheri ted money and a good education from their parents and the young Franklin grew up in a happy home, very much loved especially by his mother who was much younger than her husband. After homeschooling by a series of governesses until the age of 14, Roosevelt attended Groton, a private educational establishment led by the school’s founder, Endicott Peabody. This was a very privileged schooling: â€Å"At a time when most educational reformers stressed democracy and equal access to schools, Peabody attempted to build a school where the ‘best families’ of New England would send their sons to prepare them for future positions of leadership.† In some ways, this background excluded the young Roosevelt from the hardships that other people suffered, such as poverty and exclusion from the good things in life, but on the other hand, the Christian morals and hard-working ethic of Peabody’s school gave him a good moral basis for his future life. Having an educated mother who spoke several languages also allowed the young Franklin D. Roosevelt to develop an awareness and understanding of other countries which would come in very useful during his later career.

Calculations Assignment Example | Topics and Well Written Essays - 1500 words

Calculations - Assignment Example 352,000 Purchases ?150,000 Opening Inventory ?65,000 Cost of Goods Available for Sale ?215, 000 Less Closing inventory ?70, 000 Cost of Goods Sold ?145, 000 Gross Profit ?207, 000 Property depreciation (5% using straight line method) ?5100 Plant and equipment depreciation (20% ) ?19500 Distribution cost ?58,000 Dividends paid ?12, 000 Administrative expenses outstanding ?4,500 Less distribution costs prepaid ?10, 000 Total Expenses ?77100 Net Profit before Tax ?129900 Corporation tax (22%) ?17500 Net Income ?112,400 c) Statement of financial position Julyfest Limited Balance Sheet for the year ended 31st May 2012 ASSETS Current Assets Inventory 70,000 Cash and cash equivalents 63,500 Account Receivables 87,000 Prepaid distribution cost 10,000 Total Current Assets 230,500 Fixed Assets Property 102,000 Cost of plant and equipment 98,000 Less Accumulated Depreciation 30,000 Total Fixed Assets 170,000 TOTAL ASSETS 400,500 LIABILITIES Current Liabilities Trade payables 37,000 Interest Unp aid Bond 6,500 Taxes 17,500 Purchases 150,000 SHAREHOLDERS’ EQUITY Equity shares 100,000 Retained Profits 59,500 Share premium 30,000 TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY 400,500 Task Two Statement of cash flows provides important information to those using it as it provides information about the out flows and inflows that have taken place in a certain financial year or within a specific period of time (Baker 2005). The main importances of statement of cash flow are as discussed below. First statement of cash flows enables users to identify as well as understand the sources from which the funds used in the business during a specific period as the uses into which these funds were used (Philips 2008). Other financial statements such as balance sheet and trial balances are not able show sources of funds as well uses into which these finances were put into use (Baker 2005). Statement of cash flow also plays an important role in enhancing management of businesses as w ell as management of business resources (Baker 2005). It also enhances planning of business funds as well as ensuring that business cash flows (outflows and inflows) conform to each other (Tailor 2003). This is as opposed to other financial statements such as balance sheet which only shows assets and liabilities of business. Balance sheet cannot account for both cash outflows and cash inflows. Another importance of statement of cash flow is that it shows how efficient an organization is able to generate income (cash inflows) from its operation (Baker 2005). Other financial statements such as balance sheet which only shows assets and liabilities of business but cannot show shows how efficient an organization is able to generate income (cash inflows) from its operation (Philips 2008). Another importance of cash to those whose use it is that it is a report of funds that have been used during a specific period of time for various business activities (both short term and long term) such organization’s long term investment (Baker 2005). This information can also be shown by balance sheet. Another importance of cash to those whose use it is that it is a report of funds that have been received by the business during a specific period of time from various business activities such as debentures, share issue and loans among others (Baker

Recruitment and Selection Strategies Recommendations Essay Example for Free

Recruitment and Selection Strategies Recommendations Essay With the expansion of Clapton Commercial Construction on the horizon, Atwood and Allen Consulting have created these recommendations for recruitment and selection. Clapton Commercial Construction will be expanding by twenty percent into Arizona, which is a new market for them. In this proposal we will discuss the need to recruit/select for the expansion project, the importance of diversity, how Clapton Commercial Construction can brand their organization, and how to legally recruit and select candidates. Once all these concepts are in place for Clapton Commercial Construction the company will be ready for the Arizona market. Diverse workforce In order for Clapton Commercial Construction to succeed in a new market and meet the demands of their future clients, they will need to recruit. An increase of workforce by twenty percent will require an understanding of the employment need. To successfully meet your expansion need for the next five years, the company needs to understand the U.S. market. Your market is tight which means construction workers are in high demand. This will lead to a high talent pool with diverse ethnicity. â€Å"The United States workforce is diverse and becoming more so every year† (Casico, 2012). Your organization is part of the service economy. Clapton will employee a workforce that resembles their clients, this help with communication when language barriers exist and assist in providing a new set of talent not yet available to your organization. Clapton’s company brand should be seen as an organization that is concerned with reaching and enhancing your clients experiences by showing them how Clapton is culturally in tuned. Over the next five years the company will go through an annual twenty percent employment increases and turnover of twenty percent. With this in mind Clapton has to provide an incentive package that is competitive in the Arizona market that decreases turnover rates. The business strategy of the organization will be based on teamwork. Diversity will be a big component of this concept. Teamwork is  only successful when all working parts are functioning as one. Diversity awareness course should be given to all employees, and conflicts will need to be resolved as soon as managers are aware. Recruitment concepts Recruitment is vital to the success of your organization. This process will determine your workforce. As mentioned in our prior recommendation it is important to hire employees that share the organizations goal of successfully expanding into a new market, while continuing to provide our clients with superior service. The human capital theory suggests that education or training raises the productivity of workers by imparting useful knowledge and skills, hence raising workers future income by increasing their lifetime earnings (Becker, 1964). Before Clapton can post the vacancy for open position, you must determine the type of candidate you are searching for. Ensure that the description for the open position is descriptive of the job role; the knowledge, skill and ability needed. The post should also reflect the expectations of the candidate and a clear outline of the Clapton’s organizational goal. Recruitment will be handled by your HR department specialist; they should be family with the Equal Employment Opportunity Act. â€Å"According to the U.S. Equal Employment Opportunity Commission (EEOC), an employer may not fire, demote, harass, or otherwise â€Å"retaliate† against an individual for filing a charge of discrimination, participating in a discrimination proceeding, or otherwise opposing discrimination. The same laws that prohibit discrimination based on race, color, sex, religion, national origin, age, and disability, as well as wage differences between men and women performing substantially equal work, also prohibit retaliation against individuals who oppose unlawful discrimination or participate in an employment discrimination proceeding† (Cascio, 2012).† Arizona is considered a work at will state. This means simply that the employment is not based on a formal contract and can be severed by the employee or employer with or without a cause. Even though Arizona is a work at will state, discrimination is still prohibited. Arizona does not require an employer to provide breaks or lunches but as an employer who prides themselves on providing exceptional employee benefits Clapton should still provide employees two paid breaks and an unpaid lunch break  during an eight hour shift (Nolo.com). Conclusion Atwood and Allen Consulting have created a recruitment and selection Strategies plan that will help Clapton Commercial Construction facility in Arizona move along. If Clapton Commercial Construction follows this recruitment planning the company will be successful within the next five years. Employment will have expanded and the facility will be well known in Arizona. With the help of the HR Department Clapton has to provide an incentive package that is competitive in the Arizona market that decreases turnover rates. References Becker, G. S. (1964). Human capital. New York: Columbia University Press Nolo.com. Retrieved on May 3, 2014 from: http://www.nolo.com/legal-encyclopedia/arizona-law-meal-rest-breaks.html

Five Basic Corporate Finance Functions

Five Basic Corporate Finance Functions Introduction UBS AG is a diversified global financial services company, having its main headquarters at Basel and Zurich, Switzerland. In June 1998, Union Bank of Switzerland and Swiss Bank Corporation (SBC) completed the merger announced six months previously. Just two years later, UBS acquired the US brokerage firm Paine Webber, greatly increasing the size and scope of its business. Then the new firm set the seal on these achievements by proclaiming a single brand. In this light, UBS is both a new institution and new brand. In the picturesque Swiss region of Valposchiavo, for example, one UBS branch traces its origins as far back as 1747. The core components of todays UBS date back to the second half of the nineteenth century. At the same time, its history extends many generations into the past, particularly in Switzerland, the US and the UK. UBS is ranked second worlds largest asset manager of private wealth, and is the second-largest bank in Europe, in both market capitalisation and profitability. With its major presence in United States UBS has its headquarters located in New York City; Weehawken, Private Wealth Management in New Jersey; and Stamford, Connecticut for Capital markets, UBSs has its retail offices throughout the U.S., and has its presence in more than 50 countries (www.ubs.com/1/e/about/history.html). UBS was force to turn to the Government of Singapore for fresh funding after incurring a huge loss in 2007. After funding, Government of Singapore Investment Corporation became the largest shareholder of UBS in 2007. UBS managers pledged to return bonuses after a dramatic loss in November 2008. New financial aid was expected from Swiss government after the UBS shareholders voted to restore the shaken trust in UBS (www.ubs.com/1/e/about/history.html). Credit Suisse found a new cross-town rival in the form of UBS which has evolved on a similar path. Both of them originated from Switzerland indulging in commercial and retail banking who purchased major investment banks in United States and both are being investigated by U.S. authorities currently for helping 17,000 American citizens to avoid taxes. Based on the order by the Swiss Financial Markets Supervisory Authority (FINMA), UBS on 18th February 2009, immediately has agreed to provide the identities of and account information of about 250 American clients to United States and also agreed to pay US$ 780 million in the form of compensation and fines (www.ubs.com/1/e/about/history.html). Corporate Finance Modern companies need to raise finance from the capital market in order to invest in the real and intangible assets they need to earn profits. Their first priority is to ensure that they can source finance for both their short run and their long run needs in the most economical way possible. Corporate investment is by its nature risky and often capital intensive (Ryan, 2007). In order to justify the use of other peoples money a firm needs to ensure that the investment decisions it makes, taking into account its cost of capital, lead to an overall increase in the value of the firm and hence its investors wealth. Alongside the problem of sourcing finance at the cheapest cost, the firm has to make sure that all the investment decisions it undertakes are value adding. If they are not the firm will not be able to justify its existence for very long and will find itself out of business (Ryan, 2007). The ability to trade the financial claims of business ventures has been known about and practised for centuries. In the modern era the standardization of financial claims into homogenous trading units has transformed the way markets operate. Until the 1930s companies, for example, borrowed money from banks but following the Wall Street Crash in the United States there was a sudden loss of confidence in the banking sector. As a result, companies started to practise what governments had been doing for some time and sidestepped the banks going directly to lenders and offering them securitized debt in the form of bonds (Ryan, 2007). Although modern financial intermediaries are marvel of efficiency, the role of traditional intermediaries such as banks as providers of debt capital to corporations has declined for decades. Instead, nonfinancial corporations have increasingly turned to capital markets for external financing, principally because the rapidly declining cost of information processing makes it much easier for large number of investors to obtain and evaluate financial data for thousands of potential corporate borrowers and issuers of common and preferred stock equity (Megginson and Smart, 2006). The Five Basic Corporate Finance functions: Although corporate finance is defined generally as the activities involved in managing cash flows (money) in a business environment, a more complete definition would emphasize that the practice of corporate finance involves five basic functions: Raising capital to support companies operations and investment programs (the external financing function); Selecting the best projects in which to invest firms resources, based on each projects perceived risk and expected return (the capital budgeting function); Managing firms internal cash flows, its working capital, and its mix of debt and equity financing, both to maximize the value of firms debt and equity claims and to ensure that companies can pay off its obligations when due (the financial management function); Developing company-wide ownership and corporate governance structures that force managers to behave ethically and make decisions that benefit shareholders (the corporate governance function); and Managing firms exposures to all types of risk, both insurable and uninsurable, to maintain and optimal risk-return trade-off and therefore maximize shareholder value (the risk-management function). (Source: Megginson and Smart, 2006) External financing When corporations are young and small, they usually must raise equity capital privately, either from friends and family, or from professional investors such as venture capitalists. These professionals specialize in making high-risk/high-return investments in rapidly growing entrepreneurial businesses. Once firms reach a certain size, they may decide to go public by conducting an initial public offering (IPO) of stock-selling shares to outside investors and listing the shares for trading on a stock exchange. After IPOs, companies have the option of raising cash by selling additional stock in the future (Megginson and Smart, 2006). Capital Budgeting The capital budgeting function represents firms financial managers single most important activity, for two reasons. First, managers evaluate very large investments in the capital budgeting process. Second, companies can prosper in a competitive economy only be seeking out the most promising new products, processes, and services to deliver to customers. Companies such as Intel, General Electric, Shell, Samsung, and Toyota regularly make huge capital outlays. The capital budgeting process breaks down into three steps: Identifying potential investments; Analysing the set of investment opportunities and identifying those that create shareholder value; and Implementing and monitoring the investments (Source: Megginson and Smart, 2006) Risk Management Historically, risk management has identified the unpredictable act of nature risks (fire, flood, collision, and other property damage) to which firms was exposed and has used insurance products or self-insurance to manage those exposures. Todays risk-management function identifies, measures, and manages many more types of risk exposures, including predictable business risks. These exposures include losses that could result from adverse interest rate movements, commodity price changes, and currency value fluctuations. The techniques for managing such risks are among the most sophisticated of all corporate finance practices. The risk-management task attempts to quantify the sources and magnitudes of firms risk exposure and to decide whether to simply accept these risks or to manage them (Megginson and Smart, 2006). Corporate Governance Recent corporate scandals-such as financial collapses at Enron, Arthur Andersen, WorldCom, and Parmalat-clearly show that establishing good corporate governance systems is paramount. Governance systems determine who benefits most from company activities; then they establish procedures to maximize firm value and to ensure that employees act ethically and responsibly. Good management does not develop in a vacuum. It results from corporate governance systems that hires and promotes qualified, honest people, and that motivate employees to achieve company goals through salary and other incentives (Megginson and Smart, 2006). Developing corporate governance systems present quite a challenge in practice because conflicts inevitably arise among stockholders, managers, and other stakeholders interests. But rarely is it in the interest of any individual stockholder to spend the time and money needed to ensure that managers act appropriately. If individual stockholders conducted this type of oversight, they would personally bear all the costs of monitoring management, but would share the benefits with all other shareholders. This is a classic example of the collective action problem that arises in most relationship between stockholders and managers (Megginson and Smart, 2006). Bankruptcy and Corporate Financing Patterns The more debt a firm uses in its capital structure, the less likely the firm will be able to meet its debt service obligations, and the more likely default will occur (Benning and Sarig, p.347). It is this default likelihood that introduces bankruptcy costs into capital structure. As argued by Van Horne (p.268), the presence of bankruptcy costs is an important source of imperfection in the markets for corporate funds. Under imperfect conditions, there are the administrative costs of bankruptcy, and assets may have to be liquidated at less than their economic values (Bekter, p. 56). It is also this tendency that Myers (p.218) describes as the direct cost of bankruptcy. The implication of the presence of bankruptcy cost in financial leverage is manifested more by the fact that debt-financing generates risks. Not only that, but it has been argued that for instance that every financing decision comes with some risk implications on the value of the firm (Glen and Pinto, 1994). The largest bankruptcy in U.S. history was finally coming to an end. On April 20, 2004, MCI, Inc. Emerged with an announcement that it had begun distributing securities and cash to its creditors according to a court-approved reorganization plan. MCIs chief executive officer, Michael Capellas, heralded a new beginning for his company, which had filed for bankruptcy court protection twenty-one months earlier-when the company was called WorldCom-after disclosing and $11 billion accounting fraud. At the time of its Chapter 11 filing, WorldCom had assets totalling nearly $104 billion and debts of $32 billion (Megginson and Smart, 2006). WorldCom shocked the business world when the company announced in June 2002 that it had fraudulently overstated $3.9 billion of expenses as capital expenditures, which had allowed it to book higher profits during the telecom boom years of 1998-2001. WorldCom chief financial officer Scott Sullivan was fired the day the accounting fraud was disclosed, and his exit followed that of founder and long-time CEO, Bernine Ebbers, who had been forced out in April 2002. Over the next two years, more than $7 billion in additional accounting errors and frauds were uncovered,, bringing the total misstatements to $11 billion, and in a March 2004 restatement of its 2001 and 2002 financial results, the company wrote off over $74 billion in previously booked profits and goodwill (Megginson and Smart, 2006). Corporate Control Transactions Changes in corporate control occur through several mechanisms, most notably via acquisitions. An acquisition is the purchase of additional resources by a business enterprise. These resources may come from the purchase of new assets, the purchase of some of the assets of another company, or the purchase of another whole business entity, which is known as a merger. Merger is itself a general term applied to a transaction in which two or more business organizations combine into a single entity. Oftentimes, however, the term merger s reserved for a transaction in which one corporation takes over another upon the approval of both companies boards of directors and shareholders after a friendly and mutually agreeable set of terms and conditions and a price are negotiated (Megginson and Smart, 2006). Statuary Merger A statutory merger is a form of target integration in which the acquirer can absorb the targets resources directly with no remaining trace of the target as a separate entity. Many intrastate bank mergers are of this form. Subsidiary Merger Conversely, an acquirer may wish to maintain the identity of the target as either a separate subsidiary or division. A subsidiary merger is often the integration vehicle when there is brand value in the name of the target, such as the case of PepsiCos merger with Pizza Hut in 1997. Sometimes, separate tracking or target shares are issued in the subsidiarys name. Sometimes, these shares are issued as new common shares in exchange for the targets common shares, as occurred when General Motors issued new Class E and Class H shares to acquire, respectively, Electronic Data Systems and Hughes Electronics during the 1980s. Alternatively, a new class of preferred stock may be issued by the bidding firm to replace the common shares of the target as well (Megginson and Smart, 2006). Consolidation Consolidation is another integrative form used to effect a merger of two publicly traded companies. Under this form, both the acquirer and target disappear as separate corporations and combine to form an entirely new corporation with new common stock (Megginson and Smart, 2006). Dealing with the Crisis The merger of the Union Bank of Switzerland and the Swiss Bank Corporation in June 1998 resulted in UBS evolution. The new company was named originally as Union Bank of Switzerland, but officials chose to call it as UBS as the name was clashing with United Bank Switzerland a subsidiary part of the United Bank Limited, Switzerland. United Bank of Switzerland is no longer known for its name as it made its brand name UBS like 3M. The carried over logo from SBC, which stands for confidence, security and discretion has remained with UBS. With its acquisitions of Dillon Read in New York and S. G. Warburg in London, SBC had investment banking business all over the world before the merger. Due to the Long-Term Capital Management crisis, in October 1998, the first chairman of the merged bank resigned which affected the Union Bank of Switzerland. After the acquisition of Paine Webber Group Inc. by UBS in 2000, it became the largest private clients wealth management company in the world. A CHF 3.265 trillion assets was invested in wealth management businesses, including the U.S. As the company began to operate as one large firm, all the business group of UBS were rebranded under the UNBS name on the 9th June 2003. All major companies bought by Union Bank of Switzerland like UBS Paine Webber, UBS Warburg, UBS Asset Management and others were just called UBS. With the retirement of the Paine Webber brand UBS took a US$1 billion write-down for the loss of good will associated with as a result of the rebranding (www.ubs.com/1/ e/about/history.html). In a report released on 01st April 2008, 15 billion Swiss francs (US$15.1 billion) in a new capital was seeked by Swiss bank UBS AG as it expected to post net losses of 12 billion Swiss francs (US$12.1 billion) for the first quarter of 2008. Approximately US$19 billion on U.S. real estate and related credit positions were expected to write-down as UBS was hit by U.S. Subprime mortgage crisis and losses. Fitch Ratings and Standard Poors, and Moody are cut down the long term credit rating of UBS in April 2008 to AA and Aa1 respectively. A new capital of CHF 6 billion through mandatory convertible notes was announced by UBS which they had on the 16th October 2008, and was place with Swiss Confederation. Transfer agreement of approximately USD 60 billion currently illiquid securities and various assets from UBS to a separate fund entity were made between the Swiss National Bank (SNB) and UBS (www.ubs.com/1/e/about/history.html). The third quarter Group net profit was announced by UBS on 4th November which was in line with their 16th October pre announcement, CHF 296 million standing with net profit attributable to UBS shareholders. A further CHF 4.8 billion of write-downs and losses on risk positions affected that quarter in gain on tax credit of over CHF 900 million and own credit of CHF 2.2 million. In an announcement made on the 12th November 2008, UBS said that from 2009 there will be no more than one-third of any cash bonus paid out in year it is earned with the rest held in reserve. Top executives will have to hold 75% of any vested shares; incentives would also vest after three years on shares with share bonus accounts subject to malus charges. US$6 billion of equity was put into the new bad bank entity by UBS in November 2008; a benefit option was kept only if the value of its assets were to recover. UBS structure guaranteed clarity for UBS investors by making an outright sale, which was indicated as a neat package by the New York Times (www.ubs.com/1/e/about/history.html). The head of the Swiss National Bank (SNB) and Chairman Jean-Pierre Roth on Friday the 30th January 2009 was quoted on Reuters as saying that the two best capitalised banks in the world are UBS and Credit Suisse. In an announcement made on the 09th February 2009 by UBS, said that it lost nearly 20 billion Swiss francs (US$17.2 billion) in 2008, which is the single-year biggest loss in the history of Switzerland. The commitment to each of the UBS business divisions and strategy were confirmed by UBS Board of Directors and the Group Executive Board on the 10th February 2009. Investigations relating to UBS U.S. cross-border business are getting resolved by entering into a deferred prosecution agreement with the US Department of Justice and a Consent Order with the US Securities and Exchange Commission. US$380 million represents disgorgement of profits from its cross-border business out of US$780 million which UBS agreed to pay. And the remaining represents the tax amount of United States which UBS failed to withhold to the accounts. The interest, penalties and restitution for unpaid taxes are included in the figures. UBS also entered into an agreement with the Securities and Exchange Commission as part of the deal in which it agreed to the charges of having acted as an unregistered broker-dealer and investment adviser for Americans (www.ubs.com/1/e/about/history.html). Initiative taken CHF 20.9 billion (US$ 18 billion) loss was posted by UBS AG on the 11th march 2009 which was stated in their revised FY 2008 report. It was said that UBS was extremely cautious about the outlook of 2009. UBS announced in its Annual General Meeting held on 15th April 2009, it has plans of cutting 8,700 jobs in its return to profitability. UBS had to make about US$50 billion in write-downs and announce of 11,000 job cuts since 2007 due to the global financial crisis. UBS agreed to sell its Brazilian financial service business, UBS Pactual, to BTG Investments for approximately USD 2.5 billion in a statement made on the April 21st 2009. UBS was aiming to reduce its risk profile and to become more profitable by the sale of the Brazilian business. U.S. federal grand jury charges were made on private banker Raoul Weil for which UBS formally cut all its ties on the 1st May 2009. Raoul had been suspended in November 2008 after he was indicated in correlation to the tax evasion affair. A first quarter net loss of two billion Swiss francs (USD1.75 billion) was confirmed by UBS on May 20th 2009 which was less than initially expected. UBS restated its 2008 annual report on the May 20th 2009. A further reduction in the net profit was announced by the bank of CHF 450 million, and CHF 269 million in reduction of equity and equity attributable to UBS shareholders (www.ubs.com/1/e/about/history.html). UBS strengthened its capital base by placing 293.3 million shares from existing authorized capital by taking the advantage of current market conditions. A small number of large institutional investors were placed with the shares. In the view of the regulators it was consistent that this capital raising aims at strengthening confidence in UBS and the Swiss financial centre which is claimed by UBS. The second quarter loss of CHF 1.4 billion (US$1.32 billion) was reported on the 4th August 2009. The Swiss government made a statement of selling its CHF 6 billion stake in UBS on the 20th August 2009, making significant profit; the mandatory convertible notes of 332.2 million which it had purchased in 2008 to help UBS clear its balance sheets of toxic assets (www.ubs.com/1/e/about/history.html). In the Lundquist CSR Online Awards 2009, UBS ranked No.1 in Switzerland and No. 2 globally in November 2009. The award is given for demonstrating best online CSR communications.