Elements of Good Feasibility Essay Example for Free

Elements of Good Feasibility Essay Those who do not do their homework do not graduate. Bryces Law In its simplest form, a Feasibility Study represents a definition of a problem or opportunity to be studied, an analysis of the current mode of operation, a definition of requirements, an evaluation of alternatives, and an agreed upon course of action. As such, the activities for preparing a Feasibility Study are generic in nature and can be applied to any type of project, be it for systems and software development, making an acquisition, or any other project. There are basically six parts to any effective Feasibility Study: 1. The PROJECT SCOPE which is used to define the business problem and/or opportunity to be addressed. The old adage, The problem well stated is half solved, is very apropos. The Scope should be definitive and to the point; rambling narrative serves no purpose and can actually confuse project participants. It is also necessary to define the parts of the business affected either directly or indirectly, including project participants and end-user areas affected by the project. The project sponsor should be identified, particularly if he/she is footing the bill. I have seen too many projects in the corporate world started without a well defined Project Scope. Consequently, projects have wandered in and out of their boundaries causing them to produce either far too much or far too little than what is truly needed. 2. The CURRENT ANALYSIS is used to define and understand the current method of implementation, such as a system, a product, etc. From this analysis, it is not uncommon to discover there is actually nothing wrong with the current system or product other than some misunderstandings regarding it or perhaps it needs some simple modifications as opposed to a major overhaul. Also, the strengths and weaknesses of the current approach are identified (pros and cons). In addition, there may very well be elements of the current system or product that may be used in its successor thus saving time and money later on. Without such analysis, this may never be discovered. Analysts are cautioned to avoid the temptation to stop and correct any problems encountered in the current system at this time. Simply document your findings instead, otherwise you will spend more time unnecessarily in this stage (aka Analysis Paralysis). 3. REQUIREMENTS how requirements are defined depends on the object of the projects attention. For example, how requirements are specified for a product are substantially different than requirements for an edifice, a bridge, or an information system. Each exhibits totally different properties and, as such, are defined differently. How you define requirements for software is also substantially different than how you define them for systems. (See, Understanding the Specifications Puzzle) 4. The APPROACH represents the recommended solution or course of action to satisfy the requirements. Here, various alternatives are considered along with an explanation as to why the preferred solution was selected. In terms of design related projects, it is here where whole rough designs (e. g. , renderings) are developed in order to determine viability. It is also at this point where the use of existing structures and commercial alternatives are considered (e. g. , build versus buy decisions). The overriding considerations though are: †¢Does the recommended approach satisfy the requirements? †¢Is it also a practical and viable solution? (Will it Play in Poughkeepsie? ) A thorough analysis here is needed in order to perform the next step 5. EVALUATION examines the cost effectiveness of the Approach selected. This begins with an analysis of the estimated total cost of the project. In addition to the recommended solution, other alternatives are estimated in order to offer an economic comparison. For development projects, an estimate of labor and out-of-pocket expenses is assembled along with a project schedule showing the project path and start-and-end dates. After the total cost of the project has been calculated, a cost and evaluation summary is prepared which includes such things as a cost/benefit analysis, return on investment, etc. . REVIEW all of the preceding elements are then assembled into a Feasibility Study and a formal review is conducted with all parties involved. The review serves two purposes: to substantiate the thoroughness and accuracy of the Feasibility Study, and to make a project decision; either approve it, reject it, or ask that it be revised before making a final decision. If approved, it is very important that all parties sign the document which expresses their acceptance and commitment to it; it may be a seemingly small gesture, but signatures carry a lot of weight later on as the project progresses. If the Feasibility Study is rejected, the reasons for its rejection should be explained and attached to the document. CONCLUSION It should be remembered that a Feasibility Study is more of a way of thinking as opposed to a bureaucratic process. For example, what I have just described is essentially the same process we all follow when purchasing an automobile or a home. As the scope of the project grows, it becomes more important to document the Feasibility Study particularly if large amounts of money are involved and/or the criticality of delivery. Not only should the Feasibility Study contain sufficient detail to carry on to the next succeeding phase in the project, but it should also be used for comparative analysis when preparing the final Project Audit which analyzes what was delivered versus what was proposed in the Feasibility Study. Feasibility Studies represent a commonsense approach to planning. Frankly, it is just plain good business to conduct them. However, I have read where some people in the I. T. field, such as the Agile methodology proponents, consider Feasibility Studies to be a colossal waste of time. If this is true, Ive got a good used car I want to sell them.

Affirmative Action :: essays research papers

Affirmative Action Affirmative action is a plan made to end discrimination by guaranteeing minorities will be hired. The United States uses this practice to hire, but the qualifications of such people are occasionally overlooked. Many people believe that affirmative action is a very effective plan. The other people who oppose such action include people of various minorities, as well as many others who have been wronged by the plan. We live in a small town where there are very few minorities but in the big cities, it’s a very big deal. In several cases, this plan causes minorities to be thought of as being under qualified when hired and it also causes a new minority, the white male. Our government needs to acknowledge the fact that affirmative action is not putting an end to discrimination. This plan has succeeded in creating new minorities and more reasons for discrimination. Affirmative action frequently causes qualified employees to be looked down upon because some believe them to be "affirmative action hires." My boss at work is a woman and as a result I have encountered many discriminatory comments pertaining to her position. The first remark I usually receive suggestions that she was hired for her position solely based on gender. You might have also encountered a negative remark about a woman in your family such as: "Well, being a woman probably didn't hurt her resume." My boss is very good at her manager job yet most males look down upon her as being hired because of affirmative action. This type of criticism is received by many minorities holding good jobs, whether they are qualified or not. William Reynolds, assistant attorney general in the civil rights division states, â€Å"In many cases, affirmative action takes away from legitimate minority success. People look at the black banker downtown who has made it on his own and s ay, ‘He got his job because of affirmative action.’† People of any race or gender should be able to hold a job where their colleagues respect them as their peers, not as "affirmative-action hires". It seems that minorities are accepted to a certain extent, until they become someone's boss or superior. Affirmative action insists that the employer must avoid the kind of unnecessary escalation of criteria for selection and promotion which has sometimes been used to keep certain classes of people from entering the mainstream of our economic life. Affirmative Action :: essays research papers Affirmative Action Affirmative action is a plan made to end discrimination by guaranteeing minorities will be hired. The United States uses this practice to hire, but the qualifications of such people are occasionally overlooked. Many people believe that affirmative action is a very effective plan. The other people who oppose such action include people of various minorities, as well as many others who have been wronged by the plan. We live in a small town where there are very few minorities but in the big cities, it’s a very big deal. In several cases, this plan causes minorities to be thought of as being under qualified when hired and it also causes a new minority, the white male. Our government needs to acknowledge the fact that affirmative action is not putting an end to discrimination. This plan has succeeded in creating new minorities and more reasons for discrimination. Affirmative action frequently causes qualified employees to be looked down upon because some believe them to be "affirmative action hires." My boss at work is a woman and as a result I have encountered many discriminatory comments pertaining to her position. The first remark I usually receive suggestions that she was hired for her position solely based on gender. You might have also encountered a negative remark about a woman in your family such as: "Well, being a woman probably didn't hurt her resume." My boss is very good at her manager job yet most males look down upon her as being hired because of affirmative action. This type of criticism is received by many minorities holding good jobs, whether they are qualified or not. William Reynolds, assistant attorney general in the civil rights division states, â€Å"In many cases, affirmative action takes away from legitimate minority success. People look at the black banker downtown who has made it on his own and s ay, ‘He got his job because of affirmative action.’† People of any race or gender should be able to hold a job where their colleagues respect them as their peers, not as "affirmative-action hires". It seems that minorities are accepted to a certain extent, until they become someone's boss or superior. Affirmative action insists that the employer must avoid the kind of unnecessary escalation of criteria for selection and promotion which has sometimes been used to keep certain classes of people from entering the mainstream of our economic life.

About KFC Essay

Colonel Harland Sanders, born September 9, 1890, actively began franchising his chicken business at the age of 65. Now, the KFC ® business he started has grown to be one of the largest quick service food service systems in the world. And Colonel Sanders, a quick service restaurant pioneer, has become a symbol of entrepreneurial spirit. More than a billion of the Colonel’s â€Å"finger lickin’ good† chicken dinners are served annually. And not just in North America. The Colonel’s cooking is available in more than 80 countries and territories around the world. When the Colonel was six, his father died. His mother was forced to go to work, and young Harland had to take care of his three-year-old brother and baby sister. This meant doing much of the family cooking. By the age of seven, he was a master of several regional dishes. At age 10, he got his first job working on a nearby farm for $2 a month. When he was 12, his mother remarried and he left his home near Henryville, Ind., for a job on a farm in Greenwood, Ind. He held a series of jobs over the next few years, first as a 15-year-old streetcar conductor in New Albany, Ind., and then as a 16-year-old private, soldiering for six months in Cuba. After that he was a railroad fireman, studied law by correspondence, practiced in justice of the peace courts, sold insurance, operated an Ohio River steamboat ferry, sold tires, and operated service stations. When he was 40, the Colonel began cooking for hungry travelers who stopped at his service station in Corbin, Ky. He didn’t have a restaurant then, but served folks on his own dining table in the living quarters of his service station. As more people started coming just for food, he moved across the street to a motel and restaurant that seated 142 people. Over the next nine years, he perfected his secret blend of 11 herbs and spices and the basic cooking technique that is still used today. Sander’s fame grew. Governor Ruby Laffoon made him a Kentucky Colonel in 1935 in recognition of his contributions to the state’s cuisine. And in 1939, his establishment was first listed in Duncan Hines’ â€Å"Adventures in Good Eating.† In the early 1950s a new interstate highway was planned to bypass the town of Corbin. Seeing an end to his business, the Colonel auctioned off his operations. After paying his bills, he was reduced to living on his $105 Social Security checks. Confident of the quality of his fried chicken, the Colonel devoted himself to the chicken franchising business that he started in 1952. He traveled across the country by car from restaurant to restaurant, cooking batches of chicken for restaurant owners and their employees. If the reaction was favorable, he entered into a handshake agreement on a deal that stipulated a payment to him of a nickel for each chicken the restaurant sold. By 1964, Colonel Sanders had more than 600 franchised outlets for his chicken in the United States and Canada. That year, he sold his interest in the U.S. company for $2 million to a group of investors including John Y. Brown Jr., who later was governor of Kentucky from 1980 to 1984. The Colonel remained a public spokesman for the company. In 1976, an independent survey ranked the Colonel as the world’s second most recognizable celebrity. Under the new owners, Kentucky Fried Chicken Corporation grew rapidly. It went public on March 17, 1966, and was listed on the New York Stock Exchange on January 16, 1969. More than 3,500 franchised and company-owned restaurants were in worldwide operation when Heublein Inc. acquired KFC Corporation on July 8, 1971, for $285 million. Kentucky Fried Chicken became a subsidiary of R.J. Reynolds Industries, Inc. (now RJR Nabisco, Inc.), when Heublein Inc. was acquired by Reynolds in 1982. KFC was acquired in October 1986 from RJR Nabisco, Inc. by PepsiCo, Inc., for approximately $840 million. In January 1997, PepsiCo, Inc. announced the spin-off of its quick service restaurants — KFC, Taco Bell and Pizza Hut — into an independent  restaurant company, Tricon Global Restaurants, Inc. In May 2002, the company announced it received shareholders’ approval to change it’s corporation name to Yum! Brands, Inc. The company, which owns A&W All-American Food Restaurants, KFC, Long John Silvers, Pizza Hut and Taco Bell restaurants, is the world’s largest restaurant company in terms of system units with nearly 32,500 in more than 100 countries and territories. Until he was fatally stricken with leukemia in 1980 at the age of 90, the Colonel traveled 250,000 miles a year visiting the KFC restaurants around the world. And it all began with a 65-year-old gentleman who used his $105 Social Security check to start a business. KFC KFC operates in 74 countries and territories throughout the world under the name â€Å"Kentucky Fried Chicken† and/or â€Å"KFC.† It was founded in Corbin, Kentucky by Colonel Harland D. Sanders, an early developer of the quick service food business and a pioneer of the restaurant franchise concept. The Colonel perfected his secret blend of 11 herbs and spices for Kentucky Fried Chicken in 1939 and signed up his first franchisee in 1952. By the time KFC was acquired by PepsiCo in 1986, it had grown to approximately 6,600 units in 55 countries and territories. KFC restaurants offer fried chicken products and some also offer non-fried chicken-on-the-bone products, with the principal entree items sold in pieces under the names Original Recipe, Extra Tasty Crispy and Tender Roast. Other principal entree items include Chunky Chicken Pot Pies, Colonel’s Crispy Strips, and various chicken sandwiches. KFC restaurants also offer a variety of side items, such as biscuits, mashed potatoes and gravy, cole slaw and corn, as well as desserts and non-alcoholic beverages. Their decor is characterized by the image of the Colonel and distinctive packaging includes the â€Å"Bucket† of chicken. In 1996, KFC’s worldwide system sales of over $8 billion grew faster than the industry average even though the number of restaurants in its global system did not materially increase. This growth was largely due to the impact of new products as shown by the fact that same store sales in Company-operated stores in the U.S. increased 6%. In 1995, same store sales for Company-operated stores in the U.S. were also strong, increasing 7%. For the first half of 1997, KFC same store sales growth for Company-operated units in the U.S. was consistently positive resulting in a 4% growth rate for the 24 week period. Average U.S. system-wide sales per traditional unit in 1996 were $775,000. YUM BRANDS The Yum! Brands, Inc. organization is currently made up of six subsidiaries organized around its five core concepts, KFC, Pizza Hut, Taco Bell, A&W All-American Food Restaurants and Long John Silvers. Yum! Brands and KFC is based in Louisville, Kentucky; Pizza Hut and Yum! Restaurants International are headquartered in Dallas, Texas; Taco Bell is based in Irvine, California; and A & W All-American Food Restaurants and Long John Silvers are based in Lexington, Kentucky. Each of Yum! Brands’ concepts are engaged in the operation, development, franchising and licensing of a system of both traditional and non-traditional QSR units. Non-traditional units include express units and kiosks which have a more limited menu and operate in non-traditional locations like airports, gas and convenience stores, stadiums, amusement parks and colleges, where a full-scale traditional outlet would not be practical or efficient. In addition, there are approximately 367 units housing more than one concept (â€Å"2n1s†). Of these, approximately 354 units offer both the full KFC menu and a limited menu of Taco Bell products, and approximately 13 units offer both the full KFC menu and a limited menu of Pizza Hut products. In each concept, consumers can either dine in or carry out food. In addition, Taco Bell and KFC offer a drive-through option in many stores. Pizza Hut and, on a much more limited basis, KFC offer delivery service. Each concept has proprietary menu items and emphasizes the preparation of food with high quality ingredients as well as unique recipes and special seasonings to provide appealing, tasty and attractive food at competitive prices. VISION Our passion, as a restaurant company, is to put a YUM on people’s faces around the world, satisfying customers every time they eat our food and doing it better than any other restaurant company. A&W, KFC, Long John Silver’s, Pizza Hut, and Taco Bell offer customers food they crave, comeback value, and customer-focused teams. The unique eating experience at each of our restaurants make our customers smile and inspire their loyalty for life. Toward that end, our 750,000 associates around the world are trained to be customer maniacs. With sales now in excess of $1 billion in Australia, we have proof positive of the power of Customer Mania. But what’s at its core? Three things, really:  · Operational excellence  · Great marketing and advertising  · Real â€Å"sit up and take notice† customer service When we took the concept of Mania to our Restaurant Team Members – the talented people who deal with our customers day in, day out, every day – they embraced it with passion. They took the program and ran with it, becoming powerful catalysts for change throughout our entire organization! Why? Simple – Customer Mania unlocked their enthusiasm and creativity, empowering them to do whatever it takes to satisfy guests. Listening to the Voice of the Customer Customer Mania is a great concept, but how would we give it meat? By listening to the Voice of the Customer! One initiative we undertook in Australia was to invite RGMs to customer research sessions, where they could closely observe customers talking about their experiences in our restaurants. Their stories – good and bad – were telling. Customers complained about speed and communication in the KFC drive-thrus, and the lack of ready access to a manager in the restaurant. As a direct result of these focus groups, our Customer Mania team developed two important initiatives: Improving our drive-thru facilities and service to make them more customer-friendly, and revamping our problem resolution process.  · Drive-thru: We embarked on building large glass boxes at the entry to drive-thrus, with menus and an attendant replacing the speaker. These changes will make the drive-thru experience much more personal and more responsive.  · Problem resolution process: We took our best frontline workers, put them through additional LAST training, and empowered them to resolve customer complaints on the spot. As a result, customer complaints made to the home office have been reduced dramatically – down over 50%! It’s all about Leadership No doubt we’ve got a long way to go. But it’s clear to me that the five leadership principles we’ve established for Customer Mania are working, and are worth sharing:  · Lead from the top  · Stay the course, create a â€Å"five-year journey† mindset  · Be consistent  · Recognize, recognize, recognize  · Define what success looks like  · Good luck, and Yum to you!

The Invisible Man By Ralph Ellison - 3051 Words

The experiences of American life past and present are portrayed through the narrator’s, the invisible man, journey through life. The problems with society are foreshadowed by the racism and the symbols of the color white presented in the paint plant. â€Å"The Invisible Man† by Ralph Ellison depicts the African Americans struggle to be viewed as an equal member of society through the narrators struggles through life to discover his individuality or place in society while the white man or the community conspires to â€Å"keep the black man down†. The story follows the narrator through the various fights for equality and organizations that were supposed to be the voice of the people when in reality they became the figures that were dismantling the American dream for the very people they were trying to help. The struggles of black men are depicted through themes of racism and sexism, stereotypes, and the identity crisis for African Americans. A Major theme of this novel is the continued racism that the narrator experiences throughout his life. Racism is a plays the biggest role in shaping the narrators life experiences and ultimately turns him into an â€Å"invisible man†. In the first chapter the narrator’s grandfather said to him that African Americans lives is a war and that he is a traitor because his entire life he lived to the society’s ideals of the black man being a second class citizen (Ellison 110-111). This foreshadows the inevitable fight to become a valued member of societyShow MoreRelatedInvisible Man By Ralph Ellison1366 Words   |  6 Pagesfighter left standing, amidst unbridled carnage. The titular narrator of Ralph Ellison s novel Invisible Man, is no stranger to those experiences. In the beginning, he is forced to fight several other black boxers for the amusement of many heckling, white spectators. Through the imaginative use of objects, symbols, allusions, and the actions, thoughts, and purposes of the spectators, pugilists and risquà © entertainment, Ellison seeks to express a powerful image of American race relations and womenRead MoreInvisible, Invisible Man, By Ralph Ellison1994 Words   |  8 PagesInvisible Race and Gender in Invisible Man, by Ralph Ellison In Invisible Man by Ralph Ellison, the unnamed narrator shows us through the use motifs and symbols how racism and sexism negatively affect the social class and individual identity of the oppressed people. Throughout the novel, the African American narrator tells us the story of his journey to find success in life which is sabotaged by the white-dominated society in which he lives in. Along his journey, we are also shown how the patriarchyRead MoreInvisible Man By Ralph Ellison1246 Words   |  5 Pagesauthor of Invisible Man, Ralph Ellison, was born March 1st, 1914, and died April 16, 1994. He was born in Oklahoma City and named after Ralph Waldo Emerson, a famous journalist and poet. When Ellison was 3, his father died of a work-related accident, leaving his mother to care for him and his younger brother. As a young boy, he always wanted to major in music, and he went to Tuskegee University to become a composer and performer of music. The summer before his senior year in college, Ellison went toRead MoreThe Invisible Man By Ralph Ellison Essay2164 Words   |  9 Pagestrying to rebel against the status quo. Protest literature emerged from the Harlem Renaissance in the 1920’s to 1930’s. Protest literature is used to address real socio-political issues and express objections against them. In his novel, The Invisible Man, Ralph Ellison exposes the racism in society by focusing on the culture, in regards to the expected assimilation of African Americans and how the time period largely influenced the mistreatment of the African American population. He also uses symbolsRead MoreInvisible Man By Ralph Ellison1277 Words   |  6 PagesInvisible Man, by Ralph Ellison, is a story about a young African American man whose color renders him invisible. The theme of racism as a hurdle to individual identity is present throughout the story in a variety of examples. From the beginning of the novel the theme of identity is evident as the narrator states, †Å"All my life I had been looking for something, and everywhere I turned someone tried to tell me what I was† (Ellison, p. 1254). In the midst of living in a racist American society the speakersRead MoreInvisible Man By Ralph Ellison909 Words   |  4 PagesInvisible Man by Ralph Ellison is a novel which embodies the universal theme of self-discovery, of the search to figure out who one truly is in life which we all are embarked upon. Throughout the text, the narrator is constantly wondering about who he really is, and evaluating the different identities which he assumes for himself. He progresses from being a hopeful student with a bright future to being just another poor black laborer in New Your City to being a fairly well off spokesperson for aRead MoreThe Invisible Man By Ralph Ellison977 Words   |  4 PagesBook Review: Invisible Man Invisible Man is an American Literature novel published by Ralph Ellison in 1952. The novel traces the experiences of a young college black man growing up in Harlem, New York. Attempting to succeed in a predominantly white society, the narrator encounters shocks and disillusionments from being expelled from college to hiding in an underground hole to protect himself from the people above. He lives a repressed life as an â€Å"Invisible Man† for he believes that society ignoresRead MoreInvisible Man By Ralph Ellison1032 Words   |  5 Pageslike modern society some people leads, and others will follow. Subjects will conditionally generate their own ideas and realize these ideas rather than just be assigned tasks that question their beliefs. The author Ralph Ellison illustrates it best. Ellison’s realistic fiction Invisible Man perpetuates the manifestation of manipulation over the minorities in this society. As the narrator embraces every identity he has been given, h e starts to become more independent, and a leader in his community. Read MoreInvisible Man By Ralph Ellison1481 Words   |  6 PagesInvisible Man is a novel by Ralph Ellison, published in 1952. It addresses many of the social and intellectual issues facing African-Americans in the early twentieth century. This includes black nationalism, the relationship between black identity and Marxism, and the reformist racial policies of Booker T. Washington, as well as issues of individuality and personal identity. The grandson of slaves, Ralph Ellison was born in 1914 in Oklahoma City, Oklahoma, and was raised in Tulsa, Oklahoma. HisRead MoreThe Invisible Man By Ralph Ellison917 Words   |  4 PagesRalph Ellison’s Invisible Man is a story about a young African American man who struggles to break free from the black stereotype that white society has forced upon him. As Ellison’s views on the detrimental effects of stereotyping minorities become apparent throughout his nov el, some readers would argue that his depictions of female characters seem to be slightly hypocritical—but in actuality, the narrator’s encounters with the female characters ultimately help him accept his invisibility, develop

Minimising investment risk in sainsbury and halfords - Free Essay Example

Sample details Pages: 7 Words: 1964 Downloads: 3 Date added: 2017/06/26 Category Finance Essay Type Narrative essay Did you like this example? In the modern world, companies and share holders aim is to gain maximum profit at minimum risk. Risk can be controlled, if thorough understanding of market is done. Risk also plays an important role in corporate finance both for company and investors. Don’t waste time! Our writers will create an original "Minimising investment risk in sainsbury and halfords" essay for you Create order Companies face inconsistency in project cash flow, on the other hand investors faces unpredictability in capital gains and dividends (Watson and Head 2010). A Portfolio can be defined as a combination of securities. Portfolio analysis is a method for selecting the finest range that gives maximum return at minimal risk at various uncertain environments (Huang 2010). For the purpose of the assignment the author had selected one of the well performing retailer M/s Sainsbury and leading Automobile accessories retailer M/s Halfords. In this part of assignment share prices of Sainsbury and Halfords are taken on monthly basis for five years (December 2005-November 2010) and analysis is made [Refer Table-1 in Appendixes]. Mean,Variance and Covariance Based on the above table, the mean of Halfords equity is 0.002400 and that of Sainsbury is 0.002046. Variance measures the volatility from an average. Volatility is a measure of risk, it helps determine the risk an investor might take on when purchasing a specific security (Investopedia.com No Date). The variance of Sainsbury (0.004600) is higher compared to that of Halford (0.004293). Covariance is basically a number that reflects the degree to which two variables vary together (Howell 2008, p.180) Positive covariance indicates that asset returns move together. A negative covariance means returns  move inversely (Investopedia.com No Date). Covariance between Sainsbury and Halford gives a positive value of 0.001572. Descriptive Statistics Risk on investment is measured by standard deviation (ÃÆ' Ãƒâ€ Ã¢â‚¬â„¢) of the return on share (Watson and Head 2010). The standard deviation for Sainsbury is 0.0678218, which is higher compared to that of Halford 0.0655209, clearly stating that higher level of risk on Sainsbury equity. A measure of the degree to which a distribution is asymmetrical (Howell 2008, p.49). Measure of symmetry is defined as skewness. Positive skewness indicates that there is a greater probability of getting higher return. Negative skewness indicates that there is a substantial probability of a big negative return. (advfn.com No Date). The Skewness of Halford is 0.065 and that of Sainsbury is -0.840. Kurtosis refers to the scale to which the curve is peak or flat (Rubin 2010). Halford and Sainsbury have positive Kurtosis of 0.713 and 2.339 respectively. Positive kurtosis indicates a peaked distribution (itl.nist.gov No Date). The correlation between Halfords and Sainsbury is 0.01(Refer Correlation Table in Appendixes). Risk Free Rate Risk free rate of return can be defined as the return that investors acquire without any risk of losing money (Scott[online] 2010). For the purpose of finding out the monthly risk free rate, we had taken the yearly interest rate for 3  ¼ % Treasury Gilt Maturing on 07/12/2011 (United Kingdom Debt Management Office [Online] 2010) Efficient Frontier Efficient frontier can be defined as situation of maximum return from minimum risk (businessdictionary.com No Date). Different combination of securities creates different level of return. The efficient frontier details the best of these security combinations (investinganswers.com No Date). The risk free rate for investing on the UK guilt is 0.00051573 which gives maximum return with minimum risk. Minimum risk is observed at the ratio 55:45 that of Halford and Sainsbury. Curve above this point can be termed as efficient frontier. Investment Suggestion Risk and return plays an important role for investment in a company. Diversification of risk can be done by investing in different portfolio. As explained earlier efficient frontier details the efficient combinations of risk and return. Based on the analysis of above data the best combination of investment is 65 % on Halfords and 35 % on Sainsbury. As per Markowitz theory the best method of investment is to diversify the portfolio. PART -B Company Overview Sainsbury PLC is one of the biggest retailers operating a total of 890 stores comprising 547 supermarkets and 343 convenience store. It equally owns Sainsbury Bank with Lloyds banking group. Sainsbury are also into property business having joint venture with Land Securities Group PLC and The British Land Company PLC (j-sainsbury.co.uk 2010). Halfords is the UKs leading retailer in Automobile maintenance and accessories. Halford portfolio comprised of 469 stores in UK and Republic of Ireland. Halfords differentiate itself from other competitors by having broad product range, strong brand recommendation, competitive pricing (achieved through scale of purchasing power) and better customer relation (halfordscompany.com 2010). Diversification of Risk Modern portfolio theory explains the ability of investors to diversify the risk. It also suggest that investment on any of the portfolios that lies in the efficient frontier gives maximum return at minimum level of risk. Risk can be classified into systematic risk and unsystematic risk. Systematic risk details how the returns on the share are affected by factors such as business cycles, government policies and change in interest rates. Systematic risk is unavoidable or can be specified as market risk. Unsystematic risk is a specific risk for a particular share or risk of the individual company. Unsystematic risk occurs when the company is performing badly or going into liquidation (Watson and Head 2010). Criticism and Risks of Companies Wecker [online] (2009) states that economist criticises modern portfolio theory for several problems. Firstly they argue that the forecast are inaccurate as it refers to historical data. Based on the historical data the future returns cannot be predicted. Error in estimation of future returns has enormous effects on the Mean-Variance optimization and asset allocation. Secondly the returns are not normally distributed in reality. Thirdly lot of efforts are required to evaluate the historical data. For example, for 10 securities one to need to find out 500 values and analyse about 10 equations. Additionally Watson and Head (2010) explain that practical application of portfolio theory is associated with problems. Practically it is difficult to assume that investors can borrow at risk free rate, since individuals and company are not risk free. Problem exists in identifying market portfolios as it require knowledge of the risk and return on risky investment and their corresponding co rrelation and coefficients. Due to higher transaction cost it will be expensive for smaller investors. Composition of market portfolio changes eventually, these changes shift the risk free return on the efficient frontier. The systematic and unsystematic risk of Sainsbury and Halfords are detailed below. Major incident or act of terrorism, impact of the economic and market risk, environment, sustainability, financial strategy and treasury risks, interest rate risk, foreign currency risk can be considered as systematic risk for both Sainsbury and Halfords. On the other hand new business strategy adopted by the board, reputation risk, potential fraud or dishonesty by employees, health and safety risk , IT and operational infrastructure risk, product safety risk and regulatory requirements particularly in relation to planning, competition, employment, pensions and tax laws   can be considered as unsystematic risks. Reliance on foreign manufacturer, responsiveness to changi ng customer preference, liquidity risk and capital management risk are also considered by Halfords as unsystematic risk (j-sainsbury.co.uk, halfords.annualreport2010.com 2010). Despite of better sales figure the share prices of Sainsbury fell by 2.5 p from 387.1 p, on October 2010 (Lowery [online] 2010). New non executive chairman had been appointed by Sainsbury on October 2010. This change in management strategy can make the sales and share prices rise or fall (advfn.com No Date).Based on the above facts the investors cannot rely on Markowitz theory. Portfolio theory does not comment about systematic risk. The systematic risk such as major events or act of terrorism can make the share prices falls across the world. E.g.: 9/11 terrorist attack made the share prices falls around the world (Kitzer [online] No Date). Portfolio theory relies on historical data and efficient frontier is drawn based on that. Smaller investors cannot rely on this type of analysis for decision making. PART -C Briec et. al (2007) on his management science article recommends nonparametric measurement approach for selecting portfolios having problem in mean, variance and skewness space. Markowitz gave a theory of portfolio management in 1952. Modern portfolio theory balances the risk and return of the shares in a static context. This theory maintains strong dependency on probability distribution and utility function. Diagonal and CAPM models were developed by various economists in order to calculate the risk and returns. Despite of all these tools, Markowitz model is given more preference. Problem with the parametric approach is that, it depends on the mean and variance, of the random variable distribution. It is valid only when asset processes are normally distributed and investors have quadratic utility functions. Many ancient studies prove that generally portfolio returns are distributed normally. Preference is given to positive skewness by many investors. Third derivative of unit y function is related to preference of the positive skewness. When decisions are made frequently and the distributions are compact, only then mean variance approach can be used. Due to the lack of accuracy in the quadratic approximation, limited portfolio decisions with finite time interval should use higher moments. In order to overcome the computational problem associated with the above approach the primal and dual approaches were developed. The primal approach determine MVS portfolio via a multi objective programming approach. The dual approach starts with the measurement of indirect MVS utility functions and determines the ideal portfolio using parameters of risk and skewness. Geometric interpretation of portfolio frontier is difficult to develop, as dimensionality of portfolio selection increases. This leads to difficulties in the selection of preferred portfolio in the boundary points. As there is less importance to represent MV portfolio and there is no way by which MVS po rtfolio frontier can be represented in three dimensions. Distance function can be employed in consumer theory for positioning of bundle of goods with respect to that of target utility level. Using production theory Luenberger (1995) introduced shortage function with respect to distance function. Distance function looks on reducing the input and expanding the output. Thus a distance function represents multidimensional choice set and also positions point closer to the boundary. Generally points beneath the frontier are inefficient. To project any portfolio on the three dimensional MVS frontier, a shortage function can be used. As suggested by management studies, shortage function can be used to project portfolios which show improvement with respect to risk, skewness and return. The following targets are achieved by economist, using shortage function in theory as well as in practice. Its rate portfolio performance by measuring distance between a portfolio and optimal bench mark projection onto the primal MVS efficient frontier. it provides a non parametric estimation of an inner bound of the true but unknown portfolio frontier, it judges simultaneously return and skewness expansion and risk contractions and it provides a new, dual interpretation of this portfolio efficiency distance. Primal approaches are capable of selecting a portfolio among many from Pareto efficient MVS frontier. It can be said that there will be some points on the MVS frontier which will not be favourable from the investors point of view. Recently dual approaches are affected by lack of knowledge, preference for risk and skewness. Global optimization algorithm can be used to solve MVS decision problem. Shortage function looks for investors preferences and can identify best portfolio. By opting a micro-economic tool, such as shortage function will give big advantage in integrating primal and dual approaches. As said by Prakash et.al (2003) and Lai (1991), the MVS p ortfolio and MV portfolio are not the same. They differ from each other in the sense of return, risk and skewness. MVS portfolio will have higher risk with the extend of higher skewness compared to MV portfolio. Also as compared to MV portfolio, MVS portfolio has low returns at the extend of high skewness. The three dimensional MVS spaces shows us a way of portfolio selection approach with the help of tailor expansion. It can be concluded that non-linear programming approach act as a general frame work for any portfolio including traditional portfolio.

Drinking Water Lead Contaminated Water - 1239 Words

In Flint Michigan, nearly 100,000 residents are drinking lead contaminated water. (QuickFacts). We are not discussing a third world country on the other side of the globe, but rather a city in the United States. It would seem as though the land of opportunity, and the land many flee too should be able to provide clean drinking water. However, in the United States 310,000 children aged 1-5 are found with an unsafe level of lead running through their blood stream. (Lead 8). In Flint alone, 8,000 children under the age of six have been exposed to harmful levels of lead. The agencies and government that was put into place to protect the public from these issues is often turning a blind eye, and often allowing the public to continue to drink this contaminated water. A major part of the problem is that lead water pipes run throughout cities across the United States. Although it would very expensive to replace all the water pipes running through Flint, not replacing the pipes could potentia lly continue to do more harm to the ecosystems, and to the communities they are in. (rst2) In April of 2014 due to financial reasons Flint’s water supply source was temporarily switched from the Detroit system to the Flint River. (CNN 2). The water was then found highly corrosive. The Department of Environmental Quality did not treat the corrosion going against federal law. When Flint switched their water supply back to Lake Huron in October it was already too late. The corrosive water made theShow MoreRelatedThe Effects Of Contaminated Water On Human Life869 Words   |  4 PagesResearchers have been studying the causes and effects of contaminated water on human life. Water is to be considered a major and important resource on the planet, but it can also be a major health risk towards human life especially on young children. 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Myers Briggs Type Indicator and Promotion

Question: Discuss about the Myers Briggs Type Indicator and Promotion. Answer: Introduction: The following report is going to succinctly elucidate the career planning option for the marketing aspect. I aspire to see myself as a marketing executive and strategic marketing planner in a multinational company. in this aspect I have planned certain strategies. My career option has always been in a same way in bringing the innovative process in selection of future path. Since I have pursued my study in marketing management and have gained expertise in that sphere, I have acquired substantial knowledge on that field. The very fast way to be a marketing executive and a marketing strategy planner can be derived from the empirical knowledge of the core market values of an organisation. It needs profound and skilful insight of the person who is deployed for the work. In terms of the strategic planning, I have moulded myself in such a way that any sort of product or service marketing can be accelerated and executed with a fruitful ease (Faludi 2013). The following report is structured in a certain way that exhibits different categories of the career planning methodologies and the theories. The career planning procedure strictly follows different theories of career development (Lent 2013). Resume writing: Name : Mobile: Email: Objective: Upon the successful completion of study, I shall be able to write a professional resume that represents the skill of mine, experience and academic strength and background. Academic Details: Career Preparation: Analysing skills and ability required for creating a strong marketing career option and creating them to my own skills: I have set my skills during my academic sessions. I consider myself to be innovative, highly confident while communicating with people, able to catch the psychological level of the receiver of my message. Using of Career Planning Process: The career planning process is going to be Demonstration of Job seeking skills: my job seeking skill only remains high level of confidence and understanding of required subject. I have the ability; so far I have judged myself, to handle the difficult situation with calm attitude without being perplexed in my deed and decision. I try to hit the best job offer with ease so that no hazardous time is spent without any productivity. Using MBTI tools: Myers-Briggs Types indicator is an assessment tool that is used to evaluate the self strength of person. MNTI tool is widely used in the world among innumerable business aspirant. The basic four parameters for the test are as follow: Focus of Attention Retrieval of Information Decision making Process Dealing Capacity (Furnham and Crump 2015) There are two types of attention focus- extroversion and introversion. In my case I have analysed that I am quite extrovert in focusing my attention level. I do not seem to be chained while creating attention of the people around me. I am often called out- spoken however, I do consider it as my skill. The skill of retrieval off information is based on two different sets. These are sensing and intuition. I believe that I own the first set as I do not have intuition power. I sense information with the help of my understanding of the surrounding and the subject matter I am entitled to deal with. Though there are two different ways of making decision based on the retrieved information- the way of thinking and the way of feeling, I prefer to make my decision depending on both of the ways. I try to judge the situation thus validating thinking skills of mine and then make my decision what I feel best. I deal with the world with perseverance. I do not believe in judgment as judgement often i s falsified. Having realised the above characteristic traits I plan to use the strengths in need. Since I opt for marketing sector, I further plan to advance my strength in different situation- May that be adverse or that might be positive to the person. Different theories have different characteristic traits that help understand the behavioural pattern of a professional. S most of the theories have focused on the psychological and behavioural characteristics of a person that helps him or her develop his or her personality in accordance with the chosen career option. I have adopted the trait and Factor theory while determining my career option as a marketing executive and strategic advisor (Brown 2015). Justification of the Theory Chosen: Trait theory was first developed by Parson in the year 1909. According to the theory, there are three step schemas that form the basis of the first theoretical scaffold of a career plan. Most of the career planning methods are based on trait and factor theory. The theory was developed in the foundation of vocational guidance movement. Having analysed the strength of personality I can state that the theory gives me option and scope to change the shortcomings in to strength. Identification of my own short comings has been easy while using the six schema model of Parson. It has been proven so authentic that the government of New Zealand has chosen the model as the prime instrument to advice the youth in order to go for their most suitable career option(s). According to Frank Parsons, the idea of career should encompass the talent and passion a person builds inside him or her. For example, a girl who has the talent of playing football should opt for football as a career. Hence, personali ty, skill and talent, the three schema of a person lead him or her towards best opportunity. I have judged myself fit for marketing since I have good communication skill, and skill of reading ones mind. Marketing needs a personnel to be smart in terms of judging the psychology of a customer and the motive of the customer behaviour; in terms of grabbing proper and most suitable opportunity of the market growth. While understanding the entire marketing option, I have realised that I own certain skill of creating value of the market. Though my basic career plan is captivated in being a marketing executive, I want my career to be advanced to become an organisational leader. To be an organisational leader in the field of marketing means showing required path to hundreds of subordinates. Though I have used the word subordinate I do not strive to become a leader who considers the juniors inferior to the leader. I believe in maintaining democracy in a business organisation. This is how I can become a leader who is loved by everyone. Information Integration and Goal Setting: Long Range Career Goal: I plan to put my career in a long range goal. My career plan does not limit itself in a short run framework. I do not want to see myself becoming established in a short term position. Hence, I further focus my career plan in to the level of being an organisational leader. The leadership effort needs to be strengthened as I still have certsin drawbacks. I look forward to become a marketing executive so that I can achieve certain training with the help of live task in the market as I value the struggles that an executive faces in his or her initial stage of working. My interest in this field includes interaction with people, client handling pressure situation, learning outcome from daily on field tasks. This career would allow me to become highly capable of becoming a business leader as I would develop a firm concept of the market that I would deal with while working. Personal Strength Need for Change I need to change some of my attitudes towards my work order. I often become confused when I receive loads of prioritised works. I have the set back to select the top most priorities. I need t change the level of management and I ought to become skilful in multi tasking methods. Favourable External Condition Unfavourable external Condition Growing competition in among the companies in exploiting best of the labour market. It would help me creating best chance for getting a job in a business organisation. It would give me opportunity in choice making process pertaining to the best companies to work with. Weakened labour market and less opportunity of working in a business organisation. Strategies to reach Goal Availability of Resource: I would prefer to choose multi strategy method in fulfilling and capitalising my career plan. First, I would decide to give myself extra edge by edifying with core knowledge of the marketing arenas. Moreover, I would prepare a chart for the best and not so recognised companies. I would prefer start my career with the latter one as I would have the better opportunity to prove myself in creating market scope for the new entry organisation. Resources can be judged in different ways. First, monetary resource, second academic resource and third, professional resource. More than academic resource I would prefer to go forward with the professional resource as it will provide me with direct experience of working. The work experience can be counted something more valuable than the academic experience as it involves direct tasking method. Conclusion: As per the discussions on the career planning options, marketing personnel needs to have different career planning opportunities if the skills are duly set and linked with the set of goals. The goals encompass the plan for the dream job and creation of competencies. This is how the external and internal strength of a person can be addressed so as to construct a platform for the dream career. Recommendation: Discrepancy and ethical lacuna is obvious while designing a framework for ones career planning. The first and the foremost criteria for the framework are to concretise the skills and goals so as to create a bridge between these two components. If goals are properly associated with the skills, it shall be easier for the aspirants to meet the target. In marketing sector, the growing demand of consumer products also helps in the growth of employment as the sale and marketing strategies need skilful mind and confident attitude. The future generation should take care of these two basic components. Reference: Brown, D., 2015.Career information, career counseling and career development. Pearson. Faludi, A., 2013.Essays on planning theory and education(Vol. 20). Elsevier. Furnham, A. and Crump, J., 2015. The Myers-Briggs Type Indicator (MBTI) and Promotion at Work.Psychology,6(12), p.1510. Hung, K. and Petrick, J.F., 2016. Developing a measurement scale for cruising motivations. Lent, R.W., 2013. Career?life preparedness: Revisiting career planning and adjustment in the new workplace.The Career Development Quarterly,61(1), pp.2-14. Ong, J.C., 2017. Bringing MBTI to closure and mindfulness to life. Patton, W. and McMahon, M., 2014.Career development and systems theory: Connecting theory and practice(Vol. 2). Springer. Sharf, R.S., 2016.Applying career development theory to counseling. Cengage Learning.