John Cabot Essays - Age Of Discovery, John Cabot, Navigators

John Cabot John Cabot, an Italian mariner, was born in Genoa, Italy around the year 1450. He worked as a trader in what is now called the Middle East. He moved to England in 1484 with his three sons, Ludovico, Sebastiano, and Sancto and gained experience as a seaman. On his commercial journeys, which took him to the shores of Arabia, he heard of the countries rich in spices that lay to the Far East and wanted to find a better route to the Orient. John Cabot set out to get patents from the monarchs of Spain and Portugal to obtain support for his voyage. However, both turned him down. Finally, King Henry VII granted Cabot and his three sons the right to seek islands and countries of the West, with a small ship named Matthew and a crew of 18 men. So he set sail from Bristol, England in May 2, 1497. Cabot never got to China by sea. Almost two months later, John Cabot discovered the island of Newfoundland on June 24, 1497. This was the first documented voyage to Newfoundland. Many people believe he landed at Cape Bonavista. He thought he had reached a small island off the coast of Asia. On June 26th, Cabot began his return voyage because of bad weather and no food. He returned without any spices or treasure but he received a warm welcome regardless. He did return with mapped out details of the North American coast. He was granted another patent on February 3, 1498, and this allowed him to embark on a second expedition. This was made up of five ships and three hundred men, and set sail some time before July 25, 1498. King Henry VII only granted him one ship but 4 merchants hoping to cash in on a new route to Orient provided the other 4 ships. They first went north, apparently as far as possible; drifting ice forced them to turn. They sailed along the east coast of North America past Newfoundland, which Cabot named Bacallaos, and as far as Cape Hatteras. John Cabot also may have reached the Hudson Bay on his expedition to the North West Passage. Later he also explored the Rio de la Plata region of Brazil for the Spanish. In 15448 he became governor of a joint stock company in England with he negotiated a commercial treaty with Russia. This company, later called The Muscovy Company, was the first major English joint-stock trading company and financed trading expeditions to Russia and Asia. Cabot was paid cash for discovering Newfoundland. He was also given a pension. He only collected that pension once. It is believed he drowned at sea. Nevertheless, his discoveries guarantee John Cabot a place among the greatest discoverers. In fact, they are still celebrating his discoveries. The Cabot Tower was built on Signal Hill in St. John's in 1897. It was built to mark the 400th anniversary of Cabot's discovery.

Battle of Paulus Hook in the American Revolution

Battle of Paulus Hook in the American Revolution Battle of Paulus Hook - Conflict Date: The Battle of Paulus Hook took place on August 19, 1779, during the American Revolution (1775-1783).   Armies Commanders United States Major Henry Light Horse Harry Lee300 men Great Britain Major William Sutherland250 men Battle of Paulus Hook - Background: In the spring of 1776, Brigadier General William Alexander, Lord Stirling directed that a series of fortifications be built along the west bank of the Hudson River opposite New York City.   Among those that were constructed was a fort on Paulus Hook (present-day Jersey City).   That summer, the garrison at Paulus Hook engaged British warships as they arrived to commence General Sir William Howes campaign against New York City.   After General George Washingtons Continental Army suffered a reverse at the Battle of Long Island in August and Howe captured the city in September, American forces withdrew from Paulus Hook.   A short time later, British troops landed to occupy the post.    Situated to control access to northern New Jersey, Paulus Hook sat on a spit of land with water on two sides.   On the landward side, it was protected by a series of salt marshes that flooded at high tide and could only be crossed via a single causeway.   Upon the hook itself, the British built a series of redoubts and earthworks which were centered on an oval casemate containing six guns and a powder magazine.   By 1779, the garrison at Paulus Hook consisted of around 400 men led by  Colonel Abraham Van Buskirk.   Additional support for the posts defense could be summoned from New York through the use of a variety of signals.            Ã‚   Battle of Paulus Hook - Lees Plan: In July 1779, Washington directed Brigadier General Anthony Wayne to mount a raid against the British garrison at Stony Point.   Attacking on night of July 16, Waynes men achieved a stunning success and captured the post.   Taking inspiration from this operation, Major Henry Light Horse Harry Lee approached Washington about making a similar effort against Paulus Hook.   Though initially reluctant due to the posts proximity to New York City, the American commander elected to authorize the attack.   Lees plan called for his force to overwhelm Paulus Hooks garrison at night and then destroy the fortifications before withdrawing at dawn.   To accomplish the mission, he assembled a force of 400 men consisting of 300 from the 16th Virginia under Major John Clark, two companies from Maryland overseen by Captain Levin Handy, and a troop of dismounted dragoons drawn from Captain Allen McLeans rangers.                Battle of Paulus Hook - Moving Out: Departing from New Bridge (River Edge) on the evening of August 18, Lee moved south with the goal of attacking around midnight.   As the strike force covered the fourteen miles to Paulus Hook, problems ensued as a local guide attached to Handys command became lost in the woods delaying the column for three hours.   Additionally, a portion of the Virginians found themselves separated from Lee.   In a stroke of luck, the Americans avoided a column of 130 men led by Van Buskirk that had sortied from the fortifications.   Reaching Paulus Hook after 3:00 AM, Lee ordered Lieutenant Guy Rudolph to reconnoiter for a path across the salt marshes.   Once one was located, he divided his command into two columns for the assault. Battle of Paulus Hook - Bayonet Attack: Moving through the marshes and a canal undetected, the Americans found that their powder and ammunition had become wet.   Ordering his troops to fix bayonets, Lee directed one column to break through the abatis and storm Paulus Hooks outer entrenchments.   Surging forward, his men gained a brief advantage as the sentries initially believed the approaching men were Van Buskirks troops returning.   Swarming into the fortress, the Americans overwhelmed the garrison and forced Major William Sutherland, commanding in the colonels absence, to retreat with a small force of Hessians to a small redoubt.   Having secured the remainder of Paulus Hook, Lee began to assess the situation as dawn was rapidly approaching. Lacking forces to storm the redoubt, Lee planned to burn the fortress barracks.   He quickly abandoned this plan when it was found that they were filled with sick men, women, and children.   Having captured 159 enemy soldiers and achieved a victory, Lee elected to begin withdrawing before British reinforcements arrived from New York.   The plan for this phase of the operation called for his troops to move to Douws Ferry where they would cross the Hackensack River to safety.   Arriving at the ferry, Lee was alarmed to find that required boats were absent.   Lacking other options, he men began marching north over a route similar that used earlier in the night. Battle of Paulus Hook - Withdrawal Aftermath: Reaching Three Pigeons Tavern, Lee reconnected with 50 of the Virginians who had become separated during the movement south.   Possessing dry powder, they were quickly deployed as flankers to protect the column.   Pressing on, Lee soon connected with 200 reinforcements sent south by Stirling.   These men aided in repelling an assault by Van Buskirk a short time later.   Though pursued by Sutherland and reinforcements from New York, Lee and his force safely arrived back at New Bridge around 1:00 PM.   In the attack at Paulus Hook, Lees command suffered 2 killed, 3 wounded, and 7 captured while the British incurred over 30 killed and wounded as well as 159 captured.   Though not large-scale victories, the American successes at Stony Point and Paulus Hook helped convince the British commander in New York, General Sir Henry Clinton, that a decisive triumph could not be obtained in the region.   As a result, he began planning a campaign in the southern colonies for the following year.   In recognition of his achievement, Lee received a gold medal from Congress.   He would later serve with distinction in the South and was the father of noted Confederate commander Robert E. Lee. Selected Sources HistoryNet: Battle of Paulus Hook2nd Virginia Regiment: Battle of Paulus Hook Revolutionary New Jersey: Battle of Paulus Hook

Duramold - Fairchild - Howard Hughes and the Spruce Goose

Duramold - Fairchild - Howard Hughes and the Spruce Goose In the late 1930s, aircraft of composite materials began to appear made of plastic-impregnated wood materials called duramold. The most famous and largest aircraft of duramold construction was the eight-engine Howard Hughes flying boat dubbed the Spruce Goose. Sherman Mills Fairchild According to the Fairchild Corporation, In the mid-1930s, Fairchild pioneered the application of composite structures to airframe design and production - duramold. The adhesive bonding processes and techniques are still followed in the manufacture of composite structures today. Fairchild also developed the first nine-lens mapping camera for the U. S. Coast and Geodetic Survey in 1936. Duramold Aircraft Spruce Goose The Spruce Goose was not the first airplane to use duramold material. Many small planes had been built using duramold during the early thirties by the Fairchild Aviation. The Spruce Goose was originally conceived by Henry J. Kaiser, a steel maker and builder of Liberty ships. The aircraft was designed, constructed, and engineered by Howard Hughes and his staff. The Spruce Gooses exterior was created with material using the duramold process of laminating plywood and it was the largest plane ever to fly. In 1947, Millionaire Howard Hughes became the first person to pilot the Spruce Goose. Spruce Goose Howard Hughes Becomes The First Person To Fly The Spruce Goose In 1905, Howard Hughes was born in Houston, Texas. Hughes inherited the patent rights to an oil tool drill made by the Hughes Tool Company. A millionaire, Howard Hughes both inherited and made his own money. An adventurous soul, he formed the Hughes Aircraft Corporation and loved to pilot planes and break aviation records. After flying across America, Howard Hughes turned to movie making and formed his own motion picture studio.

Deciphering Quotes Assignment Example | Topics and Well Written Essays - 2250 words

Deciphering Quotes - Assignment Example This eternal failure depresses people. The whole area of morality and justice involves official laws and courts, which can constrain people with more and more detailed prohibitions. Perhaps officialdom brings out the worst in people, and laws which are intended to be helpful are often used as weapons for people to humiliate and punish each other in public, rather than sorting out their differences in an informal discussion. The last statement about industry and profit is a very good one for our present times because it highlights the danger that comes when people build up huge amounts of wealth and possessions. This enrages people who are poor, and encourages them to steal from the rich, because the gap between rich and poor is so extreme. It seems that Lao-tzu recommends a quiet and modest life, in which each person lives by his or her own conscience, looking after self and others in a gentle way, rather than chasing after high ideals or great wealth which do not make people happy. 2 Plato: â€Å"The prison house is the world of sight, the light of the fire is the sun and you will not misapprehend me if you interpret the journey upwards to be the ascent of the soul into the intellectual world according to my poor belief, which at your desire, I have expressed whether rightly or wrongly God knows.† In this quotation Plato explains the true meaning of his famous allegory of the cave. He has just been describing a â€Å"prison house† which is a cave in which human being are chained facing one wall, unable to see each other, or look in any other direction except at the wall in front of them. This makes me think of the way that many people have very fixed ideas about things, and can only see one perspective. In this allegory, however, the intention is not to point out the error of one particular way of thinking, but instead Plato wants us to think about the limitations of human understanding in general. The prisoners can only see shadows which are ref lected on the wall, because they are physically constrained to do so. This is an analogy for the way that human beings are forced to apprehend the world through their physical senses. They see some of the attributes of things in the world around them, but they cannot see others, for example the naked eye cannot see microscopic creatures or distant planets, but these objects do exist. The notion of the â€Å"ascent of the soul into the intellectual world†, which Plato represents as a journey out of the cave and its shadows into the full light and space of the world outside, shows the huge benefit that people gain when they use their mental faculties to complement the partial understanding that they gain from their senses. In a way this journey of the soul is a definition of philosophy, and an encouragement for students of Plato to step outside the purely physical dimension and think about higher things. 3 Aristotle: â€Å"The study of humankind requires awareness of peopleâ⠂¬â„¢s differences of background, education, habit, temperament, and other similar factors.† Aristotle is making a very important point about human nature, which is the great diversity that exists in society. It may be that Aristotle is arguing against the kind of philosophy that generalizes about human beings, as if they were all the same, or as if there is one model of

Stare Decisis and the Principle of Precedent Coursework

Stare Decisis and the Principle of Precedent - Coursework Example Gur-Arie highlights that though judicial independence was originally intended in order to have courts and judges who settle disputes impartially regardless of potential, proffers, and real favors. In addition, the judges are expected to uphold democratic accountability. However, the United States provisions promote the judiciary’s democratic control on one hand while promoting judicial independence on the other. This is evident in the present procedures for judicial budgeting that leaves the courts and judges under the oversight and slight control from the executive and the legislature. One best instance is that of executive branch influencing judicial funding levels through its propositions to Congress on fiscal policy. Furthermore, the Congress determines the extent of funding for the judicial branch. Conversely, the Legislators utilize their power on funding to reveal the approval or disapproval of how the judges manage the courts, and though rare, the legislators use their positions to reveal their approval or disapproval of decisions by the judiciary. In addition, Congress utilizes other control means to regulate the effects of judicial decision making and the threats of other decisions in the future. In this case, the fact that it is the president who appoints federal judges with the consent and advice of the Senate leaves the judiciary under the influence of political forces as the legislature and the executive seek to achieve their ambitions.

American Airlines and US Airway’s Merger Essay Example for Free

American Airlines and US Airway’s Merger Essay Abstract American Airlines has suffered tremendous profit losses over the last few years. The losses have been so great that the company filed Chapter 11 bankruptcy. The news for the Chapter 11 bankruptcy protection was a shock to many, considering the fact that they had enough money to operate and cover their losses through the following year. The merger indeed was great decision on behalf of American Airlines. The merger itself was questionable. The Department of Justice filed a lawsuit against regarding concerns that it could raise prices for consumers. A settlement was reached and the world largest airline has been formed. American Airlines has been suffering for many years. The company has suffered more losses than profits. Jobs have been cut; benefits have been scaled back, and the pilots of American Airlines are paid a lot lower salaries than their competitors. Many of them have been furloughed. All of these and many other factors have contributed to American deciding to create the world largest airlines with US Airways. In this essay I will discuss the circumstances that resulted in the merger, assess the significant positive (or negative) effects of the merger, and examine the organizational structure that has resulted from the merger. American Airlines filed for bankruptcy in November 2011. According to an interview with Richard Quest of CNN, Thomas Horton the new CEO of American Airlines stated that the company was forced into bankruptcy because of the cost disadvantages it faced compared to it’s competitors that had already gone through a bankruptcy. The news came as a shock to many. The company had enough money  to sustain the losses that it may incur through the next year. Although the company had the money to operate, the company still decided to go through with filing for bankruptcy (Isidore Ellis, 2011). At one time American was the world largest carrier, it had dropped to third in the recent years. The company has reported only one quarter where a profit was made since 2007, and lost 4.8 billion over those three and a half years. The company was projected to continue to suffer losses. Now that the merger has been approved, American will be able to get themselves out of their Chapter 11 bankruptcy protection (Isidore Ellis, 2011). Now that the merger is complete, the new American Airlines has ordered over 600 new aircrafts that are updated and more modern. The new aircrafts will allow them to compete with their competitors. In the past they have lost a great deal of money from their business class travelers due to their lack of the amenities that their competitors carry on their aircrafts (American, US Airways reach merger deal., 2013). The two jo ining airlines will offer over 6,700 daily flights to 336 destinations in 56 countries. The merger will not distress any of the hubs presently served by American Airlines and US Airways. American Airlines has been in bankruptcy for a little over a year, and the merger will be effected pursuant to a plan of reorganization under Chapter 11. The combination of American and US Airways brings together two highly complementary networks with access to the best destinations around the globe and gives us a strong platform to provide our customers the most connected, comfortable travel experience available, Horton said The operational and financial strength of the combined airline is expected to enable continued investment in new products and technologies and will create exciting new opportunities for our people, even as we deliver strong cash flow and sustainable profitability. (American, US Airways reach merger deal., 2013). The merger with Us Airways allowed American Airlines to come out of the Chapter 11 bankruptcy in December. Being able to do so was the first time that a ma jor airline has been able to satisfy a bankruptcy with a return on equity for its shareholders. By deciding to partner with a smaller, but stable US Airways, the company was able to raise the value of the combine stock. Pursuant to the plan of reorganization, so-called double-dip, single-dip, and intercompany claims were settled through a delivery process which distributed the proceeds of America Airlines estate based on the  trading price of the new companys common shares. This quick fix solution lessens the opportunity of appraisal disputes by guaranteeing creditors got a current market value. When it was all said and done, American Airlines creditors, including its unsecured creditors were given payment in full. For the first time in a major airline reformation, shareholders were able to accept a return on their equity. The approved stock exchange merger left American Airlines shareholders with 72% of the new company and the US Airway investors with the lingering 28%.US Airways decided to do what most company who are going through a merger wouldn’t. They negotiated with American Airlines unions before finalizing the merger. This established a foundation of a cooperative negotiating agreement for the new company, so that labor disagreements would not disrupt or lengthen the merger development. Following numerous noteworthy airline merges it was predictable that the formation of one of the worlds largest carriers would raise some anti-trust hurd les. The first curtailed from the US government. The airline seized a proactive tactic, agreeing to surrender some of it apertures at airports around the US, leading to court approval of the merger (Thomas, 2014). Although the two companies have merged and are legally one entity, they have both agreed to operate separately until they can integrate both systems successfully. As with any merger, both sides will suffer losses of their employees. Majority of the top leadership positions will be held by US Airways top executives in the new American Airlines. US Airways CEO Doug Parker will head the merged carrier. Of the top eight executive positions, five of those positions come from the US Airways side. American CEO Tom Horton will be the chairman of the board, and will continue on through until the first meeting of the new board next year. Parker will keep the executives that he is more familiar with. The new leadership team includes US Airways President Scott Kirby and others who have worked alongside Parker for several years (American and US Airways name merged airline leadership, 2013). American Airlines has suffered tremendously over the last few years. Us Airway which is a smaller company, was in a better position financially than American. Although Us Airway was more stable, they didn’t have access to many of the locations that American Airlines did. The merger was a great idea for both. American was able to get out of their Chapter 11 bankruptcy protection earlier than anticipated. They have switched over from the Star  Alliance and move to One world global alliance. The new company now has over a 100,000 employees worldwide. Nothing but positive results seems to be coming from the merger of the two. In the beginning, the merger was questionable, and the Justice Department along with six other states filed a lawsuit against the company. The reason for the lawsuit is that they were in fear of the creation of the world largest airline raising prices on travelers. The slight raise in ticket sales, fees for flight changes, check bags, would be detrimental to consumers. American Airlines and US Airways were able to settle the suit and bring everyone to ease. In summary, the merger has run smoothly thus so far and according to plan. Currently both companies are operating individually although they are legally identified as one entity. The companies are working to collaborate their systems together as well. At the point in time, they are honoring each other’s flier miles and plan. Some of them have been eliminated to coincide with the polices of the company. American Airlines decided to merge with Us Airways to regain its place as the world largest airline. The reason for the merger has been negative on American’s side, but will benefit their company in the long run. In my essay, I have attempted to explain In the circumstances that resulted in the merger, assess the significant positive (or negative) effects of the merger, and examine the organizational structure that has resulted from the merger.

Immigration and America :: Immigrants Emigration Essays

Immigration and America Many modern textbooks state that Christopher Columbus â€Å"found† America in 1492. Taken literally, this statement is obviously false. Many geologists will concur that the lands of the world have been in existence for billions of years. More pertinent to the discussion of American history, learned researchers will concur that there is proven fact that humans lived on the land now called America for thousands of years before the name Columbus reached the Western world. Over 37 million people from Europe, 6 million from Asia, and 10 million from the rest of the world have immigrated to the United States since 1820.[1] In essence almost all â€Å"Americans† are descended in some part from immigrants to the New World. The tossed salad that is America is made great because of the variety of ideas from foreign lands. Immigration is crucial to American success because of the extreme scope of thought contained within America and the acceptance of the world as a whole immigration brings. The success of America is based largely on the wide variety of thought brought to the New World. Multiple accounts describe the trials of immigrants attempting to gain a new lifestyle within America for one or more of a host of reasons. Many of these accounts detail a case in which the immigrant is able to become successful within a self-owned business or create a new idea for the good of the country and the world. Examples of this set of circumstances are plentiful. One such case is Samuel Slater.[2] His careful study of European mills proved very useful upon entrance in America. After building his own mill, America rose to become one of the world’s top producers of manufactured goods. Another valuable example is Andrew Carnegie of Carnegie Steel Corporation. Carnegie, a Scottish immigrant, came to America and first found work as a bookkeeper. He then progressed up the ranks of multiple companies and eventually started a steel business in Pennsylvania, later to become one of the most lucrative businesses in American history. Carnegie’s drive and determination after coming to the New World were outstanding and were voiced within his Autobiography of Andrew Carnegie. â€Å"There was scarcely a minute in which I could not learn something or find out how much there was to learn and how little I knew.

Bacteria Growth and Glucose Percentages

Bacteria’s Growth Affected by Various Glucose Percentages This lab tested whether or not different glucose levels activated bacteria growth. My lab group and I wanted to figure out, if more glucose was spread on the bacteria plates, would there be more bacteria growth in the agar plate. My group predicted that with 25% glucose (the highest percentage of glucose), the bacteria growth would be the greatest. In order to conduct this experiment, my group had 3 ager plates. One plate had 0% glucose, the next plate had 5% glucose and the third plate had 25% glucose in it.Once we received all the plates, we light an alcohol burner. We then used a pipet to sterile collect bacteria from the culture tubes. We then opened the first ager plate (0% glucose) and transferred 10 drops of bacteria culture onto the plate. Then we did the same for the next 2 plates (5% and 25% glucose). Next, we sterilized the spreader by waving it in the flame (alcohol burner) for 15 seconds. Then, we let the s preader cool for 10 seconds, and then opened the first agar plate and spread the bacteria around the plate by quickly and slightly sliding the spreader back and forth across the plate for 5 seconds.Then we closed the plate and did the same thing for the next 2 plates. Next, we sealed each plate with a strip of Para film and then placed the plates with bacteria on the side of the room until the following week. After waiting a week, we received our group’s ager plates back. We noticed that with our experiment, the most amount of bacteria growth had no glucose in it. Our results were the following: with no glucose, there was 25% bacteria growth, with 5% glucose added to the ager plates, there was only 15% bacteria growth, and with 25% glucose added to the ager plates, only 1% of bacteria growth was present.The least amount of bacteria growth contained the largest percentage of glucose. Based off of our group’s results, we can reject our hypothesis. We realized that our pr ediction was not what our results showed us. Our prediction was that 25% glucose would have the most amount of bacteria growth, however we can now conclude that bacteria growth does not need any glucose to reproduce. In fact, the more glucose there is, the least amount of bacteria growth occurs. If glucose is present in the bacteria, it is possible for bacteria to reproduce; however bacteria will reproduce the greatest when no glucose is present at all.

University Store Case

FIFO or LIFO In the case, the university Store provided plenty of goods and services with various costs. They frequently have their costs, selling prices and discounted prices changed. This process would contain a large amount of work since the Store kept large number of books. Although the Store has planned to record data by establishing a new software system, they used the retail method easing and simplifying inventory tracking. Comparing the FIFO or the LIFO method, the retail method would be the better to value Inventory with two major reasons. One reason is that GAP would accept the report under the retail method.While applying the FIFO or LIFO method, the Store would calculate historical percentages to estimate ending Inventory cost. However, they would use the â€Å"current cost-to-retail† ratios, which are more acceptable and reliable for GAP financial report. The other is that the Store could be easy to record inventory. The Store could record numbers including the to tal cost and purchase retail value, costs and retail prices, and total sales in a period. Also, the Store sometimes marks up the original sale prices, which should be marked down before calculating ending Inventory.By acquiring same Information, cost-to-retail percentage in FIFO or LIFO method are able to be calculated with omitting beginning inventory or only using beginning inventory respectively. Causes and Procedures for Inventory Obsolescence The Store realized that they needed to consider the inventory obsolescence problem. They have found the large volume of â€Å"inactive† books, which could re-adopt in the next semester or could not be returned to publishers. The major causes of this problem could be divided Into four parts. Firstly. E turnover rate of returns manager was significantly high in the recent years, causing difficulties to clear the unneeded textbooks before the new edition published. If the textbooks became obsolete and unable to be returned to publisher s, they would be stored in the bookstore or the warehouse, making losses in the financial report. The first procedure to improve the problem could be to find the reasons of high turnover rate like large workload, high-pressure environment or unexpected salary. Then, the Store should address the problem with different strategies depending on the reasons. Secondly, the Store distributed little employees to work on arranging the inactive textbooks since total employees were insufficient. This problem caused the obsolete books would stored increasingly making financial losses. To solve the problem, the Store could recruit more employees in order to pay more attention on the Inactive textbooks If the Store has ability to hire more. Moreover, the Store tried to actively pay back the used books In order to lower costs. TLS caused the Store would possibly obtain the unneeded books, which professors would stop using next semester.These textbooks would be unable to return to the publishers an d would become losses for financial reporting. The procedure solving the problem could be firstly asking professors or teachers whether the used textbooks would be continually used in the future. Next, the Store would be able to decide which book should pay back depending on their requirements and recommendations. Last but not least, the would lower sales of textbooks recently. If the Store obtained the same number of a specific textbook with decreasing usage, the books would become inactive causing financial losses.In order to solve the problem, the Store could establish a survey about the decreasing demands or possible cancellations of the books. After that, they could estimate the future inventory of fewer books with low demands. Inventory Practices Cause Misstatement Risk of Inventory While calculating the inventory value, some practices would possibly increase the risk of misstatement. At first, errors would appear in recording different costs, selling prices and price changes in sale while organizing hundreds of products.The Store should arrange at least two employees to check the values are correct although they eve already faced the problem of insufficient employees, which would cause individual workload increases. Secondly, the part-time workers with insufficient training and frequent turnover rate would create calculating mistakes. Although heavy reliance of part-time employees could lower the operating cost, it would increase the risk of inventory misstatement. To detect this possible misstatement, the Store should hire more full-time employees or provide a position to monitor the process of switching different part-time employees.Also, the revisions of college extols were published more frequently, which increase the risk of inventory misstatement. The Store needs to obtain the information about the time the revision would be published in the future and content comparison with old version. Likewise, the textbook demand is hard to determine or estim ate since currently students are able to purchase cheaper from different sources like friends or online. The Store can provide some promotion or sale to attract the students. It can obtain small volume of inventory, and then decide to purchase more depending on the demand.

The Client essays

The Client essays 1. I enjoyed reading this interesting book. It talks about eleven years old Mark Sway and his younger They were sharing cigarette when by chance a suicidal lawyer left Mark knowing a bloody and explosive secret: whereabouts of the senators dead body. 2. The main idea of the book is the struggle between the legal system trying to find the truth and the Mafia who will stop at nothing to keep him quiet. Mark is caught between them and his only ally is a woman called Reggie Love, who has been a lawyer. Reggie will do anything to protect her client-even take a last desperate gamble that could win Mark his freedom... ...

Strategy Essay Example | Topics and Well Written Essays - 2500 words

Strategy - Essay Example ..13 Conclusion........................................................14 References........................................................15 Introduction Tesco is a multinational organisation with its headquarters located in the United Kingdom. Tesco has been in operation for over half a century and it is currently the biggest UK supermarket chain (Sadler, 2003). Tesco currently operates in markets around the world with 14 divisions around the globe spread over five continents. This paper examines the strategy of Tesco. It analyses the elements of strategic management employed by Tesco to attain and maintain competitive advantage and optimise resources. It evaluates the history, corporate structure, internal competencies, the micro environment, competitors as well as the globalised and British macro environment within which Tesco operates. History of Tesco’s Strategy Sir Jack Cohen founded Tesco after the Second World War with the belief that the higher the volume of goods s old, the lower the prices for the seller and the consumer. So Sir Cohen started as a retailer focusing on bulk sales and increasing the number of outlets (TescoPLC.com) By the 1980s, Tesco had chains of supermarkets across the UK. However, in the late 1980s, Sainsbury and Waitrose were preferred retail merchants in Britain. Investors complained Tesco had lost touch with customers. So according to Sadler (2003), Tesco embarked on a large scale market survey and incorporated four things in its strategy: 1. Lower prices 2. Better and improved customer service 3. Give customer diversity through differentiation 4. Focus on non-food products In the 1990s, Tesco built more superstores with the aim of avoiding queues, deploying a sales team that will give customers a personal touch in their operation, include financial products in its array of services and also sell through the use of e-commerce. In 1996, Tesco beat Sainsbury as leader in UK retail. In 2001, Tesco hit the ?1 billion mark in its annual sales and increased earnings per share. In 2002, Tesco had 37% of its shops located overseas. Non-UK sales was about ?3 billion. Tesco now operates internationally with the slogan, ‘think global, act local’. (References about Tesco’s historical facts made from TescoPLC.com (Our History Page) and Sadler, 2003 pp 236 – 243) Tesco is a great competitor in the field of retail in the UK and beyond because of several reasons. In 2010, it made a group sales of ?62.5 billion and out of this, 53% was from international sales. (Tesco PLC Website, Annual Report Page). The Annual Report also indicates that the profit before tax for Tesco for 2010 was ?3.4 billion. In 2010 also, Tesco had a total of 4,811 stores around the world. Strategic Management of Tesco Tesco is run by a Board of Directors and a Team of Managers. The Board of Directors is made up of 8 Executive Directors and 7 Independent Non-Executive Directors. The management team is led by a CEO an d 14 other CEOs drawn from the fourteen units and branches around the globe. Together, these two teams are tasked with the strategic management of the Tesco Group. Organogram of Tesco PLC Website (Executive Committee) â€Å"Strategic management is the art and science of formulating, implementing and evaluating cross functional decisions that enable an organisation to achieve its objectives† (David, 2003) Strategic management entails a set of decisions that affect the overall functioning of an organisation over a long period of time. It is the task of top-level

Finance for manager Essay Example | Topics and Well Written Essays - 2500 words

Finance for manager - Essay Example In the initial three (3) year period the market will be restricted to only a few suppliers but this will change thereafter as the market will be opened to other suppliers. This means that care should be taken to ensure that the company does not invest in too large a capacity which may not be necessary later. There are two options available to Steelbeam. The company can either choose option 1 – which involves investing in capital with a limited capacity to produce a maximum of 1,000 units (small capacity) or option 2 with the capacity to produce a maximum of 4,000 units (large capacity). These alternatives have different variable cost per unit with the large capacity project having the lowest variable cost per unit and the small capacity project the highest variable cost. In assessing the two options the company has to pay attention to the contribution that both projects make to fixed cost as well as the break even point in units. Additionally, every capital budgeting decision requires the use of capital budgeting techniques in order to make a determination of which option is more advantageous to the company. The techniques available to your company include: ENPV is calculated using the figures obtained from the pessimistic, most likely and optimistic market forecast while applying the formula used in project evaluation and review technique (PERT). This technique assumes that the estimates of sales and demand activity follow a probability distribution (See Heizer and Render 2006). The expected sales and demand are found through the application of weights to the three estimates in each case – of demand and sales, as follows: The information arrived at from the computations suggests that the expected annual demand is 6,333 units and the expected selling price per unit - Â £12,167. These figures can be used to determine which option is better for Steelbeam PLC. Each option will be assessed to determine its