Tuesday, January 28, 2020

Investment and Cost Savings Essay Example for Free

Investment and Cost Savings Essay Introduction The purpose of this report is to address the key strategic issues facing Coast4Life with the expected downturn ahead. Included is a financial analysis, identification of major issues, analysis of alternatives and a recommendation. Financial Analysis for the Year Ended 2012 (Appendix 1) * Current ratio of 1. 6 indicates that the company can meet its short term obligations. There is a 46% improvement versus last year’s current ratio of 1.1. Quick ratio of 1.8 shows a 50% improvement. * Total debt- to-equity of 1.5 shows a 12% improvement over prior year’s ratio of 1.7 indicating that the firm is relying less on debt. Times interest earned ratio of 6.4 improved by 30%. * Profitability ratios indicate overall earnings growth. Net margin of 15.2% grew by 18% compared to 12.9% in 2011 while Return-on-Equity (ROE) of 27.4% grew by 16%. Return on Investments (ROI) of 11.2% shows a significant 28% growth from 8.7% and posted a 14% favourable variance compared to target. * Revenue and net income grew by 13.4% and 33.3%, respectively. Major Strategic Issues With the expected estimated 30%-35% decline in the overall booking, the expected impact is a decline in income by $7M (Appendix 2). The proposed alternatives to generate additional revenues and or/ cost savings are evaluated using a required after tax rate of return of 16%. Alternative 1 – Change Customer Mix Objectives: Maximize Repeat Customers from 20% to 40% Maximize Age Group 40-60 years old from 30% to 38% Pros: * Incremental Income of $721K in 2013; $2.1M for the 3 years ahead combined (Appendix 3) * Opportunity to expand extra-services * Maximizes capacity/resources Cons: * Marketing constraints to target customer mix * May require additional costs to achieve target This option addresses the incremental income requirement. It maximizes profitability and provides opportunities to expand business ( in line with the company’s mission). Alternative 2 – Implement a web-based booking system Pros: * Incremental savings of $24K in 2013; $226K for the 3-yrs ahead combined (Appendix 4) * Opportunity for additional costs reduction (i.e. advertising, promotion) * Provides information about passengers * Opportunity to target more customers * Meets demand for Internet-booking * Accounting module improves financial reporting Cons: * Loss of customer service * Technology must be up to date and well maintained * Security (i.e. financial data, customers) This option meets the cost savings requirement. It also addresses the immediate need of the company for market/customer information and addresses constraints in alternative 1 (customer mix). This is in line with the company’s mission to provide unique services. Alternative 3 – Hire Crew and Hospitality Workers from Underdeveloped Countries Pros: * Incremental cost savings of $883K; $2.1M for the 3 years ahead combined (Appendix 5) * Cheaper wages Cons: * May damage reputation (poor service quality) * May dampen employees’ morale This alternative meets the requirement for cost savings. To ensure quality service, the company must invest in training. The company should also keep key employees (pros: assists in training, promotion could keep morale high). Long-term cost savings is attractive. Alternative 4 – Divest the Fraser dry dock Pros: * Incremental Income of $3.1M in 2013; $2.5M for the 3-years ahead combined (Appendix 6) * Focus on core business Cons: * Incremental costs of $438K per year (maintenance and lost income from the dry dock operations (Appendix 6) * Decline in company-wide morale * Damage to reputation and local ties * Quality of third-party maintenance This alternative meets the incremental income required. This allows the company to focus on its core business. However, long-term, the negative impact on income, reputation and ties with the community are not desirable. It is recommended to change customer mix and implement a web-based booking system. Both alternatives achieve the income requirement (total $745K in 2013; $2.4M for the 3 years ahead). Both alternative have low risk and provide more opportunities to maximize the use of its resources and capacity and expand business. Hiring crew and staff from underdeveloped countries is recommended if the high risk is mitigated i.e. by retaining key employees. Divesting the drydock is not recommended due to the incremental expenses associated in future years. Conclusion The recommended alternatives meet the requirement to generate revenue and/or cost savings to counter the expected downturn in 2013.

Monday, January 20, 2020

Project Management Essay -- Management Information Technology

Most Project Managers come up through the ranks of an Information Technology (I.T.) department. They have mastered coding, testing. This experience helps prepare them to run projects, but there are still many unknowns for the new Project Manager. The official project request they receive is typically a vague, one-page list of objectives. In addition, I.T. Management cannot afford the time to guide the new Project Manager each step of the way. This paper will assist them in the initial stages of a project. Defining the Project: Purpose The first step in any project is to determine the purpose of the project. The project purpose should be a simple statement that is the guiding principle of the project. For example: The purpose of this project is to reduce the amount of time it takes to enter an order. Defining the Project: Requirements With the purpose in mind, the requirements for the project should be set. Often, the users will need to be contacted to clarify the requirements from their initial project request. The requirements should be in business terms, relate to organizational requirements, and be broken down by functional area. For example: * Improve the response time in Order Entry to improve customer service (Order Services Department) * Give the sales force the ability to enter orders while at the customer site to improve customer service (Sales Department) * Decrease the learning curve for new Order Entry Clerks to improve customer service and reduce training costs (Order Services Department) In each example, "improving customer service" is the organizational requirement that the project requirement relates too. The department (in parenthesis) represents the fu... .... This technique only clarifies requirements; thus, other requirement gathering methods are used in conjunction with it. Conclusion The two essential outputs of the initial stages of a project are: * Clearly defined, achievable requirements that are in step with organizational requirements * A reasonable, feasible work plan Remarks In order to complete, many projects are finding it advantageous to use a lifecycle approach. One of the reasons software project management remains a challenge is that, as has been all too frequently observed, progress in software development has not kept pace with progress in hardware development. The gap between software and hardware development is partly explained by the lack of standard methods and tools to boost the software development process. In short, "The cobbler's children have no shoes."

Sunday, January 12, 2020

The role of engineers in policy making

Policies target jobs. Policy sets forth an apprehension through regulations that govern a state of affairs necessitating declaration. It is created in both domestic and international kingdoms as public policy, with ends of promotion in mark countries such as instruction, wellness and public assistance, defence, and in-migration. While these may be readily accepted as longstanding issues in humanity, with continuing recognition of their being and on-going outgos of monies toward proposed solutions, we must inquire why our policies do n't give us coveted consequences. At a national degree, certain political procedures exist to guarantee that democratic engagement in policymaking exists and this typically occurs â€Å" inside nation-states † ( Stone 2008:23 ) . While critical analysis reveals restrictions to the procedure, there is no such procedure in making international policy. Nanz and Steffek ( 2004 ) remark that â€Å" International administration is distant from citizens, its processs are opaque, and it is dominated by diplomats, administrative officials and functional specializers. † Stone ( 2008:24 ) farther claims that this restriction â€Å" has incapacitated critical thought. † Functional specializers advise diplomats and administrative officials as to the range and comprehensiveness of a given societal job. Horowitz ( 1979:1 ) called them, societal scientists, as â€Å" bookkeepers of the psyche. † They collect informations, proctor advancement, and evaluate consequences to suggest a theory that supports the ir research and probe. They do so in as non-partisan an attack as possible because the strength of their statement is from their rational neutrality ( Stone 2001 ) and assumes the interlingual rendition of the job is right ( Ricoeur 2006:11-29 ) . This positive attack is reinforced by an â€Å" operational codebook for making societal scientific discipline work within a governmental context † ( Horowitz 1979:6 ) . It has been observed during past legion old ages that the consecutive enlargement of the radio communicating and printing imperativeness, have enabled the omnipresent formation, defining, and distribution of information. As a consequence of such advancement, the aptitude for world-wide engagement in determination devising in political relations and other Fieldss has grown to an extraordinary degree, as has the chance for heightening the quality of life. Nowadays, the new universe of vigorous communiqu & A ; Atilde ;  © lies before us and it has all been made likely by the ability, endowment, and devoted work of scientists and applied scientists. The key is to develop and use such ability to reason the fate. Soon, we are come ining in a new epoch of distributed intelligence in which information and cognition is available anyplace to any individual at any clip. In this epoch, information, duty and power moved off from centralized control to the person. Within this position, scientists and applied scientists play a drastic function. Our construction of preparation and instruction must therefore prepare future technology and scientific discipline professionals to shoulder lifting duties and pattern lifting chances. Engineers played a drastic function in technology field by enabling the Industrial Revolution and information age. Furthermore, it is apparent that technological invention is the key to economic growing and wealth creative activity in any state. Harmonizing to the study of National Science Boar and U.S. Council of Economic Advisors, technological revolution has boost up the economic growing by one tierce over the past 50 old ages. Harmonizing to the celebrated economic experts, Peter Drucker, â€Å" wealth is an information building, a human activity that can capitulate both invention and productiveness † . Knowledge maps to duties we already cognize how to make can hike efficiency, while cognition pattern to errands that are new and different is freshness, the procedure of crafting new concerns and administer new services and merchandises to multitudes. The true energy of a state lies in its human capital, peculiarly its technology labour force. Engineers develop new merchandises and procedure and trade and administer new systems for civil fabrication, substructure, information direction, wellness attention bringing, computing machine communications, and others. In common, applied scientists put all their cognition and experience to work for society and help the private sector ‘s latent to craft occupations and wealth for the multitudes. To boom and shore up up richness, applied scientists must show more than first rate scientific and proficient expertness. In a increasingly more competitory universe, applied scientists aid us to do valuable and right determinations about puting immense sum of money, human resources and clip towards common ends. Engineers are the individual who knows how to execute right undertakings at right clip every bit good as knows the right undertakings to execute. For case, applied scientists are able to work in squads and posses good communicating accomplishments. Furthermore, they are resilient, adjustable and flexible. Engineers chiefly focus on the busying a systems attack in their occupation to do correlativity within the model of political, economic, environmental, ethical, and international considerations. Another common illustration is innovation procedure as illustrated by Drucker, i.e. bring forthing and giving from new things contrary to efficiency which implies merely building bin g things more proficiently. On the other manus, the ether of technology is mixing all cognition for some purpose. Engineers as societies â€Å" maestro planimeters † must offer direction in the synchronised and synergistic class of invention and wealth formation. Furthermore, the applied scientist must be able to work across legion diverse Fieldss and subjects and do the associations that will escort to subterranean penetration, more advanced elucidation, and acquiring things completed. Presents, it is revealed that technology pupils spend most of their profession managing with the challenge vastly diverse from those experienced by applied scientists in this new epoch. The rational capablenesss of the hereafter applied scientists will spread out vastly beyond the conventional scientific discipline focused preparation that has portrayed technology tutoring since Second World War. 634 There are certain factors that contribute drastically to this new push, which include worldwide commercial completion which involves the technology employment and industrial organisation chances offered by intelligent engineering normally known as eclectic which is continuously altering occupation environment naming for acute interpersonal accomplishments and lifting apprehension of the demand to put wellness, environment, and safety at the beginning of the design class. Engineers gained mathematical and scientific accomplishments which are considered compulsory for their occupation success. As most of the technology professionals are equipped with the following capablenesss they can execute an outstanding occupation in policy devising for the major Fieldss of the state. These capablenesss are: * Plan in order to run into dependability, safety, and environmental, operational, cost and care aims. * Recognize merchandises i.e. goods or services. * To craft or explicate, manage and continued intricate systems. * Comprehend the physical physique and the industrial, political, economic, societal and international position within which technology is experienced. * Participate and grok the research procedure. * Possess the rational capablenesss needed for larning throughout the whole life. Technology is all approximately practical job work outing in the altering physical universe utilizing proficient, scientific and concern accomplishments. The realistic nature of technology signifies that technology expertness and advice is of important value in explicating a policy and present different countrywide undertakings. For case the desire for technology advice is peculiarly relevant in the field of clime alteration. The biggest trial presents to any authorities is explored for grounds for clime alteration alternatively of explore for resources to hedge its progress and palliating its consequence that is the issue of technology and engineering. Furthermore, crafting professional judgements about the feasibleness of any national undertaking is an built-in portion of the technology preparation. It is become clear that technology advice in policy devising can be a critical in many policy countries. Government has consulted many applied scientists for different countries for policy devising like critical national substructure, Rescue operations, and Energy sectors. Many Government and research institute together with the joint coaction started new ventures to advance different invention and research of energy undertakings for case undertakings where technology is the bosom of the scheme of the Government for heading towards a C impartial economic system. Furthermore, in the recent few old ages, there is a turning support for applied scientist ‘s function in policy devising by the Government every bit good as in private sectors. One of the premier grounds for the lifting demand is that most of the policy shapers are of the sentiment that Engineers possess necessary expertness and accomplishments in the development of natural resources to run into national marks and tests. Furthermore, most of the applied scientists are adept in direction of appraisal and hazard of the technological elucidation to trials like security of energy supply or clime alteration which serves as a necessary portion of good and effectual policy devising. Government is doing immense assignment of applied scientists in public sector to turn its economic system swimmingly. Such assignment would besides travel a important manner to guarantee that technology is decently corresponded to Government and that the desires and parts of applied scientists are dealt wi th by Government in a strategic manner. Most of the policy shapers are of the sentiment that applied scientists who are best qualified should put finest pattern in technology advocate for the Government. Just like a Chief Scientific Adviser is needed for the scientific discipline policy in a section of the Government, likewise technology expertness is needed to explicate a best possible technology policy. Furthermore, Government has besides recognized the significance of applied scientists in policy devising. Many policy shapers believed that suited gratitude should be given to Engineering and Technology in the policy formulating process. The applied scientists has to execute assorted occupations in policy devising procedure as it must be guarantee that their advice has sufficient capacity existed to run into states need. Engineering is non limited to civil service as its capacity and range of work is far more than civil technology. Furthermore, it is recommended that Government needs to be a wise patronage for technology services and advice when it receives. This means that Government should engage such staff for policy devising procedure that understand and measure their best technology advice. Furthermore, such staff should lend with groundss and assess proficient grounds to assorted sectors. Evidence based policy in chief countries such as low C conveyance, energy supply and clime alteration. Such marks and ends in these countries are accomplishable merely if the input of the policy advisors peculiarly technology advises has a clear apprehension of the needed grounds of the given field. China is still a underdeveloped state and it fleetly building itself, factually, and applied scientists are extremely valued in such state. Furthermore, the advancement of Japan lies in a fact that it has conventionally a really strong technology base. It develop itself after the war through high tech technology industries wh ich consequences in a strong economic system of Japan. No uncertainty that bulk in the bing epoch has been enormously attracted towards fiscal services but still both Government value applied scientists and gives them high topographic points to work in policy devising procedure. Engineers can play a drastic function in the recovery of economic system through good policy devising. Engineering and economic recovery sounds two different Fieldss but is closely related with each other with a broader position. Professional applied scientist ‘s occupations are non limited to planing and edifice things that resolve practical issues in the echt universe. Engineering is a much broader term and the range of applied scientist is far more than civil service. Most of the major challenges of the state every bit good as the Earth are handiness of energy at cheaper rate, security issues, clime alteration and H2O handiness are the cardinal issues that needs expertness of applied scientists to repair them. Government needs applied scientists to work closely that represent different subdivisions of technology. However, in wider position, technology community, with a collaborative association of more than 400,000 qualified professional people has late felt that they are to some extent undervalued by policy shapers and politicians voyaging the economic system. Some of the policy shapers nevertheless revealed that technology advice in policy devising procedure are wholly helpful in the station industrial economic system. They believed that the hereafter of the state economic system is predominately in service industries peculiarly in technology industry and fiscal sector. A recent study of technology council revealed that they have found technology field as one of the greatest strength of the economic system and were delighted to happen out that applied scientists are immensely considered internationally more than their places. Furthermore, it is observed that the state failed to utilize its technology lineage to confront the economic challenges coming down line. Gradually the Government took drastic stairss to engage applied scientists in different sections of the Government machinery peculiarly in policy devising to hike up the economic system.Mentions:Horowitz, Irving L. 1979 Constructing Policy: Dialogues with Social Scientists in the National Political Arena. New York: Praeger Publishers. Nanz, Patrizia and Jens Steffek 2004 Global Governance, Participation and the Public Sphere. Government and Opposition 39 ( 2 ) :314-335. Ricoeur, Paul 2007 Reflections on The Just. Chicago: The University Chicago Press. Rock, Deborah 2001 Policy Paradox: The Art of Political Decision-Making. New York: W. W. Norton.

Saturday, January 4, 2020

How and to what purpose does Virgil use ekphrasis in the...

How and to what purpose does Virgil use ekphrasis in the Aeneid? Virgil’s use of ekphrasis in the Aeneid has attracted much attention by classical scholars; as such the coverage on this topic is extensive. This essay therefore does not aim to purport all of Virgil’s techniques and aims in regard to describing art in the Aeneid – a subject on which entire books have been written – rather the brevity of this essay necessitates an overview of the predominant theories, whilst attempting to shed light on some of the less well noted observances. Where it is more informative the original Latin text will be employed. West’s translation will be used everywhere else.1 The first point to make is on the nature of an ekphrasis. The term ekphrasis†¦show more content†¦The to-and-fro nature of the ‘tides of war’ episodes look forward to the battles that swing back and forth in favour of the opposing armies.24 The slaughter by Diomedes of Rhesus and his men, adopted from Iliad 10, foreshadows the night raid of Nisus and Eurylaus in Book 9. The description also relates to the later narrative through repetitious diction. For instance ‘cruentus’ here describes Diomedes;25 later when Nisus, like the Iliadic Diomedes is described as a lion,26 he has an ‘ore cruento’.27 The essence of the tragic downfall in Book 9 is caused by Euryalus’ greed. This is described as ‘prodidit’,28 the same language used to describe the sleep that was ‘prodita’ to Rhesus and his men.29 In this way Virgil foreshadows events in the Italian war, not just through subject but also verbal double-meaning. A crucialShow MoreRelatedEssay Shield of Achilles and the Shield of Aeneas3655 Words   |  15 PagesAchilles and the Shield of Aeneas In Homer’s great work, the Iliad, Achilles is given a set of armor, including a glorious shield which allows him to return to battle and carry out his revenge against Hector. Likewise, in Virgil’s Aeneid, Aeneas is sent a shield for the purpose of aiding him in defending Rome from invasion. However, these shields are made special not by their military value, but by the engravings that decorate their surfaces. Achilles’ shield holds engravings of common life during