Saturday, December 28, 2019
Gogatsu byou May Sickness
After Golden Week (a succession of holidays) is over, a symptom called, Gogatsu byou occurs to some Japanese people. Gogatsu means May and byou means sickness. It is a depression that affects some new students or employees during the first few months of their new life (the Japanese school year starts in April). It is not a medical term and is usually diagnosed as an adjustment disorder. It is always hard to get back to a regular routine after a nice long vacation. Japanese Translation ä ºâ€Ã¦Å"ˆçâ€"… ã‚ ´Ã£Æ' ¼Ã£Æ' «Ã£Æ'‡ãÆ' ³Ã£â€š ¦Ã£â€š £Ã£Æ' ¼Ã£â€š ¯Ã£ Å'ç µâ€šÃ£â€š 㠣ã Ÿã ‚㠨ã ら㠄㠫ã€ ä ºâ€Ã¦Å"ˆçâ€"…㠨ã „ã †çâ€"‡çŠ¶Ã£ «Ã£ ‹ã ‹ã‚‹ä º ºÃ£ Å'㠄㠾㠙。æâ€" °Ã£ â€"ã „çâ€Å¸Ã¦ ´ »Ã£â€šâ€™Ã¥ §â€¹Ã£â€š ã ŸãÆ' ¶Ã¦Å"ˆã ®Ã©â€"“㠫〠æâ€" °Ã¥â€¦ ¥Ã§â€Å¸Ã£â€šâ€žÃ¦â€" °Ã¥â€¦ ¥Ã§ ¤ ¾Ã¥â€œ ¡Ã£ «Ã£ ¿Ã£â€šâ€°Ã£â€šÅ'る㠆㠤çâ€"…㠮よ㠆㠪も㠮㠧㠙。(æâ€" ¥Ã¦Å" ¬Ã£ ®Ã¥ ¦Ã¥ ¹ ´Ã¥ º ¦Ã£ ¯Ã¥â€ºâ€ºÃ¦Å"ˆã «Ã¥ §â€¹Ã£ ¾Ã£â€šÅ 㠾㠙。) ä ºâ€Ã¦Å"ˆçâ€"…㠯åÅ' »Ã¥ ¦Ã§Å¡â€žÃ£ ªÃ¥ ç § °Ã£ §Ã£ ¯Ã£ ªÃ£ ã€ é ©Ã¥ ¿Å"éšÅ"Ã¥ ® ³Ã£ ¨Ã¨ ¨ ºÃ¦â€" ã •ã‚Å'る㠓㠨ã Å'Ã¥ ¤Å¡Ã£ „㠧ã ™ã€‚å ¹ ¸Ã£ „㠪ã “㠨㠫〠æâ€" ¥Ã¦Å" ¬Ã£ §Ã§ § 㠯ä ºâ€Ã¦Å"ˆçâ€"…㠫㠋㠋㠣ã Ÿã “㠨à £ ¯Ã£ ‚り㠾㠛んã Å'ã€ æ ¥ ½Ã£ â€"ã „é• ·Ã£ „ä ¼â€˜Ã£ ¿Ã£ ®Ã£ ‚㠨〠æâ€" ¥Ã¥ ¸ ¸Ã§â€Å¸Ã¦ ´ »Ã£ «Ã¦Ë† »Ã£â€šâ€¹Ã£ ®Ã£ ¯Ã¥ ¤ §Ã¥ ¤â€°Ã£ ªÃ£â€šâ€šÃ£ ®Ã£ §Ã£ ™ã‚ˆã 。 Romaji Translation Gooruden wiiku ga owatta ato gurai ni, gogatsu byou to iu shoujou ni kakaru hito ga imasu. Atarashii seikatsu o hajimeta ni, san kagetsu no aida ni, shinnyuusei ya shinnyuushain ni mirareru utsubyou no youna mono desu. (Nihon no gakunendo wa shigatsu ni hajimarimasu.) Gogatsu byou wa igakutekina meishou dewa naku, tekiou shougai to shindan sareru koto ga ooi desu. Saiwaina koto ni, nihon de watashi wa gogatsu byou ni kakatta koto wa arimasen ga, tanoshii nagai yasumi no ato, nichijou seikatsu ni modoru nowa taihenna mono desu yo ne. Note: The translation is not always literal. Beginners Phrase It is always hard to get back to a regular routine after a nice long vacation. Tanoshii nagai yasumi no ato, nichijou seikatsu ni modoru nowa taihenna mono desu.㠟㠮ã â€"ã „ 㠪ã Å'ã „ や㠙㠿㠮ã ‚㠨〠㠫㠡㠘ょ㠆ã ݋ „㠋㠤ã « も㠩る㠮ã ¯ 㠟㠄㠸ん㠪も㠮㠧ã ™ã€‚æ ¥ ½Ã£ â€"ã „é• ·Ã£ „ä ¼â€˜Ã£ ¿Ã£ ®Ã£ ‚㠨〠æâ€" ¥Ã¥ ¸ ¸Ã§â€Å¸Ã¦ ´ »Ã£ «Ã¦Ë† »Ã£â€šâ€¹Ã£ ®Ã£ ¯Ã¥ ¤ §Ã¥ ¤â€°Ã£ ªÃ£â€šâ€šÃ£ ®Ã£ §Ã£ ™ã€‚
Friday, December 20, 2019
Essay The Adventures of Huckleberry Finn by Mark Twain
In The Adventures of Huckleberry Finn, Mark Twain criticizes a â€Å"sivilized†society, by depicting those who are considered â€Å"civilized†to be deceiving. Huckleberry Finn, also referred to as Huck, is the protagonist and the narrator of the story. He is influenced by many, but makes decisions that contradict societal norms. As the story develops, Twain employs dramatic, situational, and cosmic irony, as Huck overcomes difficult situations throughout his journey with Jim; a slave. As Huck and Jim go down the Mississippi River, to get away from St. Petersburg, they separate after a ship was close to crashing their raft. Huck tries to find Jim, but encounters the Grangerfords. The Grangerfords are a family who accepted Huck into their†¦show more content†¦Readers thought Tom would â€Å" ...say it’s dirty, lowdown business...†(p.226) but realize the situational irony in chapter 33, when Tom agrees to free Jim, and â€Å"Tom Sawyer fell considerable in [his] estimation.†(p.226) Even though it’s ironic that Tom made his plan â€Å"adventurous†, and that Huck agreed to it. Huck is more mature, having more sense than Tom , yet he agreed with Tom’s complicated plan to free Jim. Readers suddenly come to an understanding of how much Huck cares about Jim, even if it wasn’t right for him to be helping a slave. The major characters in this novel are all considered to be slaves at a certain point, contradicting that they believe they’re socially better. The cosmic irony, is the realization of the non-slaves, actually being slaves. Jim, being an African slave, is a slave tied to his owner; the Widow Douglas. Pap, Hucks father, is a slave to alcohol, which leads to physical abuse toward Huck. The alcohol eventually gets the best of Pap and he ends up being the dead man Jim found in the abandoned house. The majority of the characters that Huck encounters, like the Duke and the Dauphin, are slaves because of their unnecessary addictions, like wealth and robbery. These unusual addictions lead to disorder in the book. In The Adventures of Huckleberry Finn, Mark Twain deliberately changes the wording of â€Å"civilization†into â€Å"sivilization,†to express how Huck denies the â€Å"sivilized†lifestyle that is surrounding him. Despite the factShow MoreRelatedThe Adventures of Huckleberry Finn by Mark Twain830 Words  | 3 PagesThe Adventures of Huckleberry Finn by Mark Twain is â€Å"A Great American Novel†, because of its complexity and richness. Twain writes dialogue that brings his characters to life. He creates characters with unique voice and helps the reader connect to the book. Anyone who reads it is forced to develop feelings for each character. Even though there is a great amount of controversy over the use of some choices, such as the â€Å"n word†, it makes the book more realistic. In the beginning of the novel Huck,Read MoreThe Adventures Of Huckleberry Finn By Mark Twain1103 Words  | 5 PagesDmitri Van Duine Jr English Mr. Nelson November 27th The Adventures of Huckleberry Finn: Huck Finn and Tom Sawyer The Adventures of Huckleberry Finn, Written by Mark Twain filled his stories with many examples of satire as to convey a message while also writing an interesting story. The Adventures of Huckleberry Finn revolves around the adventures of a young boy called Huckleberry Finn, who is about thirteen years old. Tom Sawyer is Huck’s best friend and around the same age as Huck. He is onlyRead MoreThe Adventures Of Huckleberry Finn By Mark Twain Essay1055 Words  | 5 PagesZambrano Mrs. Patmor AP Lit-Period 5 28 September 2016 Adventures of Huckleberry Finn 1835 Mark Twain embodies realism in almost every aspect of his writing not excluding The Adventures of Huckleberry Finn, which in he portrays such a lifelike setting that it almost gives you this sense of reality through the point of view of a young man that has an urge for freedom yet struggles to conform to society s norms due to his adolescence. Twain s ability to unmask the true identities of the charactersRead MoreThe Adventures Of Huckleberry Finn By Mark Twain931 Words  | 4 PagesWolski Mrs. Goska English 2H Period 3 22 October 2014 The Adventures of Huckleberry Finn Mob mentality is the way an individual’s decisions become influenced by the often unprincipled actions of a crowd. Mark Twain penned The Adventures of Huckleberry Finn. Twain grew up in America’s southern states during the early 1800’s, a time in which moral confusion erupted within the minds of humans. The Adventures of Huckleberry Finn s protagonist is a young boy named Huck who freely travels alongRead MoreThe Adventures Of Huckleberry Finn By Mark Twain1375 Words  | 6 Pagesmention the years spent growing and maturing physically. Teenagers are stuck in an inbetween state where they must learn who they want to become and what they want to be when they grow older. The same is true for Huckleberry Finn, from the book â€Å"The Adventures of Huckleberry Finn†by Mark Twain. This is a book that was written in a time of great confusion over moral codes and standards. It was a world split in half by two different worlds of people; those who opposed, a nd those who promoted slavery.Read MoreMark Twain and The Adventures of Huckleberry Finn1575 Words  | 6 Pages Mark Twain and The Adventures of Huckleberry Finn Controversy Mark Twain, born Samuel Langhorne Clemens, is a highly recognizable figure in American literature. Born in Florida, Missouri Mark Twain and his family moved to Hannibal, Missouri where Twain discovered and fell in love with the mighty Mississippi River. The river and his life in Hannibal became his inspiration and guiding light in most of his writing. Although Twain loved the river and did a great deal of traveling, he eventuallyRead MoreThe Adventures Of Huckleberry Finn By Mark Twain2083 Words  | 9 PagesSatire in Huckleberry Finn In the novel â€Å"The Adventures of Huckleberry Finn†by Mark Twain, we are told a story about a young boy and his slave companion’s journey down the Mississippi River and all of their encounters with other characters. Twain constructed a beautiful narrative on how young Huck Finn, the protagonist in the story, learns about the world and from other adult characters, how he is shaped into his own person. At the time this book was made however, this novel provided serious socialRead MoreThe Adventures Of Huckleberry Finn By Mark Twain810 Words  | 4 PagesBefore Mark Twain started to write two of his most famous novels, The Adventures of Tom Sawyer and Adventures of Huckleberry Finn, Mark was known to use his characters to display his own thoughts and opinions. â€Å"This device allowed him to say just about anything he wanted, provided he could convincingly claim he was simply reporting what others had said.†(Twain, 1283). Mark Twain used this process to be a foundation of his lectures, by manipulating his popularly with his readers. During the storyRead MoreThe Adventures Of Huckleberry Finn By Mark Twain1005 Words  | 5 Pages In the Adventures of Huckleberry Finn written by Mark Twain in the 19th century is about a young boy named Huck Finn and Jim, a runaway slave who go on an adventure. The two travel on a raft along the Mississippi river creating a bond and making memories. Mark Twain presents Huckleberry Finn as a dynamic character who at first views Jim as property and eventually considers Jim as a friend, showing a change in maturity. In the beginning of the book, Huck Finn clearly sees Jim as nothing more thanRead MoreThe Adventures Of Huckleberry Finn By Mark Twain1335 Words  | 6 Pagesyear The Adventures of Huckleberry Finn is placed in the top ten banned books in America. People find the novel to be oppressing and racially insensitive due to its frequent use of the n-word and the portrayal of blacks as a Sambo caricature. However, this goes against Mark Twain’s intent of bringing awareness to the racism in America. The Adventures of Huckleberry Finn by Mark Twain is classified under the genre of satire and is narrated by a fictional character named Huckleberry Finn. The novel
Wednesday, December 11, 2019
Corporate Financial Management
Question: Discuss and provide an example answering three questions regarding subprime mortgage.With an example explain possible causes of financial crisis. Explain how financial crisis affectedbusinesses in your own country and other countries. Answer: Introduction: The world changed after the month of September of the year 2008. This all began as the slump in the country of United States and has now become the global crisis. All the rich as well as the poor countries became its target. This subprime mortgage crisis along with the crumple of the global financial markets led to the recession for the world economy. The country of Bangladesh is not so globalised but its exports depend upon the foreign trade. But its exports of the readymade garments, shrimps, and leather is heavily the demand of the western countries. Therefore, when the world experienced the recession, the unemployment rose, there was a decline in the income of the average consumers of the US and this led to a very negative impact of the export potentials. This report aims at discussing the causes of the subprime mortgage crisis and its impact on the world and on the country of Australia. Causes of the subprime mortgage crisis: It was being said that the reason behind the subprime mortgage crisis was the financial literacy. The banks were the ones that were handing out the loans along with the rating agencies. These rating agencies were working so recklessly that they filed to figure out that there were a pile of the subprime liar loans that had a rating of triple A. the mortgage brokers such as the Countrywide Financial were the ones that encouraged the wanted to be home owners to exaggerate their earnings. The media encouraged the people to buy the homes by saying that the times were different and this held good even when they were hugely in debt and had no money whatsoever to repay that debt. The banks and the lenders trusted the distribution channels that had belonged to the different roof and this took place through the mortgage brokers and the correspondents. They encouraged the people that were working for them to take as much loans as they could even if they were unable to repay the same. They did not consider the fact of the quality standards loans so as to ensure whether they would be able to be repaid or not. They just though that the loans were being sliced down and sold in bulk, so they give the same whose credit rating was negative. The mortgage meltdown began when the United States housing bubble busted and it all began during the year 2001 and reached its peak in the year 2005. The housing bubble is the economic bubble that took occurred in the local and the global estate markets. It is defined as the rapid increase in the valuation of the real property until there were some unsustainable levels that reached in relation to the incomes and the other such indicators of affordability. These rapid increases were followed by the fall in the prices of the houses and resulted in the mortgage debt that was higher than the price of the property. Effect of subprime mortgage crisis on Bangladesh: The following is the table for the value of Export of Bangladesh by Major Commodities during 2004-2011: Commod- ity 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11* a) Primary Goods Raw Jute 80 148 149 165 148 196 268 Tea 16 12 7 15 12 6 2 Frozen Food 390 459 515 534 455 445 471 Agricultural Product 41 105 88 120 122 189 186 Other Primary Goods 26 49 75 153 133 53 53 Total Primary Goods 553 773 832 988 870 884 980 b) Manufacturing Goods Jute goods 246 361 321 318 264 540 569 Leather 211 257 266 284 177 226 210 Naphtha, furnace oil 37 88 84 185 142 301 196 Readymade garments 3538 4084 4658 5167 5919 6013 5962 Knitwear 2148 3817 4554 5533 6429 6483 6605 Chemical Product 121 206 215 216 280 103 68 Shoe 68 95 136 170 187 204 222 Handicraft 4 4 8 5 6 4 3 Engineering products 42 111 237 220 189 311 222 Other mfg. products 663 730 867 1025 1096 1527 1170 Total mfg. goods 7050 9753 11346 13123 14695 15713 15227 Grand total 7603 10526 12178 14111 15565 16597 16207 Annual Change 16.10 21.63 15.69 15.87 10.31 6.63 40.30 After the collapse of the subprime mortgage crisis of the country of United States, many of the countries of the world got into deep depression. The country of Bangladesh whose economy was least dependent upon the economies of the other countries was less vulnerable to the risks since it was already taking the steps so as to shield itself from the adverse effects of the other economies. About 90% of the exports of Bangladesh is dependent upon United States and other such developed countries. The adverse effect of the recession had a negative effect on the growth of the export of the country. The country did try not to get affected by the recession since it held its head high during the first 6 months by not allowing the figure of exports of being dropped. But soon the country too started showing the effects and this impacted the exports. Though United States witnessed a serious meltdown, the currency started falling but the Bangladeshi Taka still remained fairly stable when compared with the US $. As the result, the exports became less competitive but the imports became cheaper. The exports of many of the items were turned down but the price of the essential commodities and the raw materials also declined in the domestic market. Conclusion: The main cause of the subprime mortgage crisis were the fall in the prices of the houses in the United States. This got coupled with the poor lending practices by the credit rating agencies and the financial institutions. This further led to the restrained economic growth of the country and led many of the people to lose their jobs. References: business.cch.com, (2015). The Subprime Lending Crisis: Causes and Effects of the Mortgage Meltdown. Eldis.org, (2015). Protifolon: Impact of global financial crisis on the economy of Bangladesh - Eldis. Olen, H. (2013). What caused the subprime mortgage crisis? Not our math skills. [Online] the Guardian. Robertson, C. (2015). What Caused the Mortgage Crisis. Corporate Financial Management Questions: 1. How their decision making could be related to capital budgeting techniques such as, Internal Rate of Return,in relation to Capital Budgeting Techniques? 2. Explain and identify similarities and differences between the following two models? Answers: 1. Sensitivity analysis: Capital budgeting can be defined as looking forward. When dealing with the anticipated resources and demands uncertainty forms the major factor. Sensitivity analysis can be defined as the statistical tool, which helps in determining the consequential deviations from the anticipated value (Bodie, Kane and Marcus 2014). Sensitivity analysis is concerned with locating the amount through which one can change the data input to generate the output of the liner-programming frameworkto comparatively remain unchanged. This assists in defining the sensitivity of data that is supplied for the problem and helps in measuring the optimum levels required for each of the input. Supporting the process of decision making and developing necessary recommendations required for decision makers. This helps in facilitating proper testing of robustness of the results derived. Sensitivity Analysis helps in enhancing the process of communication from the modelers to the decision makers by providing recommendations towards more trustworthy, comprehensible, convincing or credible decisions. Sensitivity analysis helps in increasing the understanding and quantification of the systems which helps in understanding the relationships amid the input and output variables (Borgonovo and Plischke 2016). Sensitivity analysis helps in development of model, which helps in searching and locating errors in the model. It is noteworthy to denote that to perform a sensitivity analysis all the necessary inputs and considerations are associated with aprocedure in order to yield the output (Dantzig 2016). For instance, a framework of inputs and considerations of an organisation is concerned with producing a new product mightcomprise of information concerning the projectedobtainability of raw material, rate of inflation aamount of workforce engaged in the research and development activity. The output will be regarded as the new profit, which will be produced by the fresh product (Vanderbei 2015). Therefore, sensitivity analysis involves altering each variable and monitors what compels changes in the output. Usually only one variable is alteredat once and all the other factors remained fixed at their base value. This helps in easy determination of number of variable effecting the output. However, it is noteworthy to denote that not all the inputs may be independent as changing inputs at one period is not concerned with the interaction amid the inputs. Figure 1: Figure reflecting sensitivity analysis (Source Cohon2013) Sensitivity analysis helps the management as the methodology of measuring the quantity of risk involved in the projected venture. Sensitivity analysis also facilitates computing the effect of variations relating to several quantifiable elements of a plan and helps the management to recognise the probable pitfalls (Luenberger and Ye 2015). Management can made the use of the sensitivity analysis, as a tool to locate the elements of a plan if changed to some extent will create an influence on the consequence of a project. It is noteworthy to denote that business engages in several form of risk since there is no assurance that a business will earn revenue. Organisationendeavours to reduce the degree of risk as much as possible by remaining engaged in actions that helps the business in earning profit. Managers usually makes the use of sensitivity analysis before executing the plan of a new venture of business activity. Sensitivity analysis helps the managers to assess the factors that wou ld help the project to yield profit by creating an impact on the net profit value of the planned activity (Charneset al. 2013). Managers determine the process of administering risk involved in the new project or activity provided their indulgence following the use of sensitivity analysis. Scenario analysis: Scenario analysis can be defined as the procedure of approximating the anticipated value of portfolio on a given period. This involves assuming the exact deviations in the values of the portfolio securities or key elements that takes place such as the change in the rate of interest (Gelmanet al. 2014). Scenario analysis is largely used to govern the changes in the value of portfolio concerning the unfavourable event, which might be used to evaluate a theoretical worst scenario. As a tool, sensitivity analysis consists of computing different rate of reinvestment for anticipated returns that is reinvested during the investment horizon. Depending upon the principles of statistics scenario analysis provides a procedure to estimate deviation in the value of portfolio. Such deviation is based on the occurrence of numerous circumstances which is referred as scenarios following the principles of what if analysis. The scenario analysis can be used as tool to measure the amount of risk, which is present in the given investment associated with variety of probable events ranging from highly probability to highly improbable (Luenberger and Ye 2015). Based on the results derived from analysis, an investor can measure the degree of risk present falling within his comfort zone. There are several different ways of approaching scenario analysis. One of the collective method is determining the standard deviation of day-to-day or monthly security returns and then calculating the anticipated value for each of the portfolio that generates return having standard deviation above or lower than the average return. Through this method aforecaster can obtain a sensible amount of certainty concerning the change in the value of a portfolio during a given time period. Scenario analysis process is used to measure the potential investment scenarios, which can be applied to several financial circumstances to determine the shift in values based on theoretical situations. From a consumers perspective, an individual can use the scenario analysis to evaluate certain financial outcome while making a purchase on credit as opposed to saving funds for cash purchase. Businesses on the other hand can make the use of scenario analysis to determine the probable financial results of certain decisions (Charneset al. 2013). For example, selecting one of two facilities or storefronts from which business functions can be conducted. This may consist of considerations such as differences in rent, charges associated with utilities and insurance or any kind of benefit that may be available in one location but not in other location. 2. Capital asset pricing model: The capital asset pricing model is considered as the most well-known model for determination of anticipated return on securities and other financial assets. It is regarded as the asset-pricing model since the price of an asset can be backed off once the anticipated return is determined. Furthermore, the anticipated amount of return derived from the CAPM or any other kind of asset pricing model may be used to discount the future cash flows (Barberiset al. 2015). Hence, such discounted amount of cash flow is then added to determine the price of an asset. The capital asset pricing model presented by William Sharpe and John Lintner marks the establishment of an asset pricing theory. The attraction of CAPM is largely due to the simple logic and intuitively pleasing predictions concerning the procedure to measure the risk along with the relation between the anticipated rate of return and risk. The model assumes the risk of investors as averse and at the time of making portfolio selection, it considers the mean variance concerning one period investment return (Nghiem 2015). Precisely, the relevant portfolio choice by the investors is mean variance efficient, which reduces the variance in portfolio return. The common notion behind the theory of CAPM is that the investors need to compensated in two ways namely, time value of money and risk. The time value of money is represented by the risk free rate and provides compensation to the investors for placing their money in any investment over a period (Dionne, Li and Okou 2013). The risk free rate can be considered as the yield on the government bond like US treasuries. The CAPM theory lays down that the anticipated amount of return of a security or the portfolio is equivalent to the rate of risk free rate with the risk of premium. If the anticipated rate of return fails to meet the required amount of return then investment are not taken into the consideration. Capital market line: The capital market line can be defined as the kind of graph, which arises from the capital asset pricing model. The Capital asset pricing model is used to determine the theoretically suited required rate of return on a particular asset when such assets about to form a part of the existing and well performing portfolio (Huesecken, Overesch and Tassius 2016). The capital market line is a useful tool, which helps in determining the rate of return amount of efficient portfolios. The analysis of capital market line relies on the risk free rate of return with the amount of risk involved in the portfolio. The Sharpe ratio derived from certain computation highlights the proportion of risk and extra return, which a portfolio provides. Portfolio having the highest amount of Sharpe ratio is considered as the market portfolio. Eachportfolio, which is included in the market portfolio,is optimized for a specified sum of risk. Due amount of consideration is given to the sum of risk which is associa ted with the particular asset. According to the capital asset pricing model the market portfolio lays down the efficient frontier. The efficient frontier can be considered as the ingathering of portfolios. When the market ratio is combined with the risk free asset, it is capable of generating higher rate of return than the efficient frontier (Christensen, Hail and Leuz 2016). The combination of market portfolio and the risk free rate paves the birth of capital market line. Several experts have expressed their opinion of preferring capital market line over the efficient frontier. The main reason behind such preference is that Capital Market Line takes into the consideration the additional risk of risk free asset in the portfolio. Figure 2: Figure representing Capital Market Line (Source: Christensen, Hail and Leuz 2016) Capital asset pricing model provides a graphical return on the market risk and return on assets for a given time period. The capital market line acts in the form of liner combinations of the risk free asset and portfolio. Thus, portfolio under the capital market line is considered as mediocre since it reflects new efficient set (Lee and Su 2014). Capital market line is assumed to remain within the capital asset pricing model since it can highlight the rate of return for efficient portfolios, which in most probable scenarios faces the risk of market portfolio, and risk free rate of return. Difference and similarities between the capital asset pricing model and the capital market line: The difference between the capital assets pricing model and the capital market line are is that the capital market line represents the line, which reflects the rate of return and relies on the risk free rate of return along with the level of risk for a particular portfolio (Pianosiet al. 2016). One of the major differences between the capital market line and the Capital asset pricing model is the procedure of measuring the risk factors. For capital market, line standard deviation is used to measure the risk whereas for Capital asset pricing model beta coefficient is used to determine the risk factors. One of major similarity between the capital assets pricing model and the capital market line is derived by drawing a tangible line from the point of interception where the anticipated rate of return is equivalent to the rate of risk free return. The capital market line determines the risk by using the concept of standard deviation or by implementing the total risk factors (Jagricet al. 2015). On the other hand, the Capital asset pricing model measures the risk through beta, which helps in determining the risk for security contributing to the portfolio. Another key difference between the capital market line and the Capital asset pricing model is that while the capital market line graphs defines the efficient portfolios, the Capital asset pricing model determines both the aspects of efficient and non-efficient portfolios. At the time of computation of returns, the anticipated amount of return for the capital market line portfolio is highlighted on the Y-axis. In contrary to this, the Capital asset pricing model the return for securities is represented along the X-axis (Gelmanet al. 2014). The standard deviation of the portfolio is highlighted on the X-axis for capital market line while the beta value of securities is determined on the X-axis for Capital asset pricing model. The market portfolio and the risk free assets are determined by the CML however, all the security factors is determined by the CAPM. References Barberis, N., Greenwood, R., Jin, L. and Shleifer, A., 2015. X-CAPM: An extrapolative capital asset pricing model.Journal of Financial Economics,115(1), pp.1-24. Bodie, Z., Kane, A. and Marcus, A.J., 2014.Investments, 10e. McGraw-Hill Education. Borgonovo, E. and Plischke, E., 2016. Sensitivity analysis: a review of recent advances.European Journal of Operational Research,248(3), pp.869-887. Charnes, A., Cooper, W.W., Lewin, A.Y. and Seiford, L.M. eds., 2013.Data envelopment analysis: Theory, methodology, and applications. Springer Science Business Media. Christensen, H.B., Hail, L. and Leuz, C., 2016. Capital-market effects of securities regulation: Prior conditions, implementation, and enforcement.Review of Financial Studies, p.hhw055. Cohon, J.L., 2013.Multiobjective programming and planning. Courier Corporation. Dantzig, G., 2016.Linear programming and extensions. Princeton university press. Dionne, G., Li, J. and Okou, C., 2013. An Extension of the Consuption-Based CAPM Model. Gelman, A., Carlin, J.B., Stern, H.S. and Rubin, D.B., 2014.Bayesian data analysis(Vol. 2). Boca Raton, FL, USA: Chapman Hall/CRC. Huesecken, B., Overesch, M. and Tassius, A., 2016. Capital Market Reaction to Tax Avoidance: Evidence from Luxleaks. Jagric, T., Podobnik, B., Strasek, S. and Jagric, V., 2015. Risk-adjusted performance of mutual funds: some tests.South-eastern Europe journal of Economics,5(2). Lee, M.C. and Su, L.E., 2014. Capital Market Line Based on Efficient Frontier of Portfolio with Borrowing and Lending Rate.Universal Journal of Accounting and Finance,2(4), pp.69-76. Luenberger, D.G. and Ye, Y., 2015.Linear and nonlinear programming(Vol. 228). Springer. Nghiem, L., 2015. Risk-return relationship: An empirical study of different statistical methods for estimating the Capital Asset Pricing Models (CAPM) and the Fama-French model for large cap stocks.arXiv preprint arXiv:1511.07101. Pianosi, F., Beven, K., Freer, J., Hall, J.W., Rougier, J., Stephenson, D.B. and Wagener, T., 2016. Sensitivity analysis of environmental models: A systematic review with practical workflow.Environmental Modelling Software,79, pp.214-232. Vanderbei, R.J., 2015.Linear programming. Springer.
Wednesday, December 4, 2019
An Element Of Arts And Science Essay Example For Students
An Element Of Arts And Science Essay Astrology provides a very debatable kind of knowledge that is generally assessed by the intelligent as a useless kind of knowledge, which only makes sense for the ignorant. At the same time astrology is usually associated with gypsies and hucksters, who are known for their deceptive and fake knowledge, as they try to deceive people for their own financial interest. On the other hand, we find people with high education attempting to study astrology and very much respect the kind of knowledge it offers them. Whether such knowledge offered through teaching astrology in universities is worth doing or to be considered an inapplicable knowledge for high education is a critical decision to make, which requires obtaining a great insight about astrology it self as an academic field in order to be able to make a correct assessment. Astrology is actually a combined form of knowledge that both combine both the element of art and of science in its essence. It contains the mathematical element as well as the artistic element o symbolism (Astrology 891). Scientists usually disregard the art side of astrology and focus on the basic mathematical part of it, as they judge it as useless and insignificant. This actually destroys the wholeness and balance within the realm itself. This may be considered a reason for misunderstanding the real value of knowledge in astrology. It is also a fact that every field is vulnerable to be used by ignorant people who devoid it totally of its meaning and value, in order to sell it as cheap as possible in a market of ignorance that unfortunately have many customers who are wiling to buy, again this helps in misunderstanding Astrology (Astrology 891); and as there is the presence of the competent and the incompetent in every field, and people usually search for the best in every profession, so why exclude Astrology (Astrology 896). Astrology requires a sophisticated kind of thinking as it combines artistic and scientific knowledge, it can therefore never be considered as insignificant knowledge. It may not be appreciated by scientists due to the artistic element provided within it, and their total dependence on reason for discovering reality since the onset of the renaissance; thus reviving such forms of knowledge actually, shows the evolution of knowledge and thinking that reflects the significance of intuitive forms of knowledge besides the pure rational ones. The astrological knowledge in itself consists of a natural balance between intuitive and rational knowledge, and disturbing this balance will only lead to the production of inconsistent forms of knowledge that seem to appear on the surface to help in the generation of misunderstandings regarding astrology. The argument of scientists against Astrology reflects the on going disagreement between scientific knowledge and intuitive forms of knowledge. Scientists never admit the truth in any intuitive understanding, and they usually regarded as invalid. They never accept the fact the mystery is part of reality and that the rational mind can never be able to reach full understanding of the universe. Astrology is a balanced kind of knowledge as it respects both forms of thinking, which in fact a respect for nature and for the human being as part of that nature. I feel that the purpose of a reading is to understand ones life challenges And potential, to provide an opportunity for self reflection and life Evaluation, as well as to confirm ones intuitive sense of what ones Life is about (Astrology 895). Human beings as well as nature are made of matter and soul that can never be detached from each other as long as life is there. How can scientists reach the truth if they are actually altering the natural balance in life by looking for material proof and ignoring the intuitive reality of nature? The soul remains a mystery that can never be explained by scientific truth, and science can not resolve the question of life and death. There fore, accepting astrology as a significant form of knowledge by a scientist is truly a question of him admitting intuition as a part of reality. .u198a9e4559a3b67746c27d4b66d4a678 , .u198a9e4559a3b67746c27d4b66d4a678 .postImageUrl , .u198a9e4559a3b67746c27d4b66d4a678 .centered-text-area { min-height: 80px; position: relative; } .u198a9e4559a3b67746c27d4b66d4a678 , .u198a9e4559a3b67746c27d4b66d4a678:hover , .u198a9e4559a3b67746c27d4b66d4a678:visited , .u198a9e4559a3b67746c27d4b66d4a678:active { border:0!important; } .u198a9e4559a3b67746c27d4b66d4a678 .clearfix:after { content: ""; display: table; clear: both; } .u198a9e4559a3b67746c27d4b66d4a678 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u198a9e4559a3b67746c27d4b66d4a678:active , .u198a9e4559a3b67746c27d4b66d4a678:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u198a9e4559a3b67746c27d4b66d4a678 .centered-text-area { width: 100%; position: relative ; } .u198a9e4559a3b67746c27d4b66d4a678 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u198a9e4559a3b67746c27d4b66d4a678 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u198a9e4559a3b67746c27d4b66d4a678 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u198a9e4559a3b67746c27d4b66d4a678:hover .ctaButton { background-color: #34495E!important; } .u198a9e4559a3b67746c27d4b66d4a678 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u198a9e4559a3b67746c27d4b66d4a678 .u198a9e4559a3b67746c27d4b66d4a678-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u198a9e4559a3b67746c27d4b66d4a678:after { content: ""; display: block; clear: both; } READ: History--Historical Analysis Of Jerzy Kosinskis The Painted Bird The P EssayFrom another side, if the issue had not been on intuition, regarding astrology, it is still a form of knowledge that surely provides the individual with some insight about life and introduces him to different kinds of thinking; it should be even credited for this reason alone, my studies in Astrology, as well as in other fields, are attempts to understand the grand design of the whole (Astrology 894). Scientists also accuse Astrological interpretive knowledge of not being exact stars incline but do not compel (A critical 882), and this fact works against scientific logic which is sharp and determi nant. But actually, life in it self is never exact or straight forward and clear as mathematical knowledge entails for instance. Astrology may actually provide the best for of understanding of life and nature; it allows people to understand reality the way it is without trying to alter its nature. The whole issue of prediction and future related knowledge can never be definite or fully explainable, to discuss future probabilities is much like giving a weather report (Astrology 896). On the other hand, it should be admitted that Astrological knowledge may help in creating dependent and weak individuals, if they used it wrongly. It might lead them to spin in a cycle, which they might not be able to break. People can stress too much on the intuitive knowledge in Astrology and thus once again altering its balance of logic and intuition and thus getting again a wrong insight about life and nature, with an accompanied change in personality and attitude to life Astrology, when practiced as completely as possible, takes away from ach of us our right and duty to make our own personal decisions (A Critical 882). In the case of a scientist who puts great emphasis on logic and excludes intuition, makes him a rough and rigid person who stands weak in front of the scientifically unexplained mysteries of the world; while in the case of the ignorant who does the opposite to give too much significance to intuition and disregards reason suffers another kind of weakness that creates a dependent and shattered personality. But again we must also admit that this would be the case with any field if wrongly interpreted. All in all, I believe that Astrology is a sophisticated form of knowledge that should be respected for the special thinking abilities it provides an individual who studies it. It also reflects on the importance of providing a balance between Art and Science, and thus between logic and intuition, which is found deep within the nature of man and the universe he lives in. I would very strongly recommend all institutions of high education to teach Astrology in order to correct the misunderstanding entitled to it, and thus expose the rich and deep knowledge it provides.
Thursday, November 28, 2019
Sunday, November 24, 2019
Complete List of 100+ Free Online High Schools
Complete List of 100+ Free Online High Schools SAT / ACT Prep Online Guides and Tips Online high schools can be a way for students to take high school classes and graduate at theirown pace, without having to adhere to strict schedules and the distractions of a traditional school. So if you feel that an in-person school isn't right for you for whateverreason, an online school might be the perfect fit. We’ll give you a list of all the (tuition free!) online high schools available in the United States, as well as how they work, and how and why an online high school could be right for you. So let's get started! What Is an Online High School? Anonline high school is any school that teaches and takes place virtually, rather than in-person. Some online high schools are hybrid programs where students must spend a portionof their time in a physical location, but a fully online high school program takes place completelyvirtually. Students in completeonlineprograms do not go to a physical building to learn each day, but instead are allowed to learn in any place with an internet connection, takingcourses online and typically interacting with their teachers via virtual classrooms, through email, and/or over the phone. A typical school day for students enrolled in online high schools is much like a typical day for other public school students, with about 5-6 hours spent learning and engaging in classwork, and additional time spent on homework. So, although studentscan generally set their own schedules with an online school, the amount of time required for coursework and studies remainsthe same whether the school takes place online or in person. In addition to the standard coursework,many online high school programs offer school activities, trips, contests, and virtual clubs to help students interact and get to know one another. So online students can often reap many of the same the benefits they could get from an in-person school, with all the additional perks of attending school online. Different Types of OnlineHigh Schools Just like physical schools, online highschools can be divided into two broad categories of public and private schools. And just like physical schools, the differences between the two types can be broken down like so: Online publichighschools(which can also becharter schools) use state-licensed and certified teachers, charge NO tuition, follow state education standards, and award you with a legal high school diploma upon completion of the required credits and courses. These schools are government funded, just like physical public schools. Online private high schools follow their own education requirements and standards (rather than state standards),charge tuition,and will ultimately award you with a high school diploma once you have completed the program. These schools are privately funded, just like with physical private schools. Whether private or public, manyonline schools require theirstudents to be a resident of the state or a particular school district, while other schools accept studentswho live inany stateor school district (or students who have no fixed address). Other online schools accept out of state students, but charge them tuition that in-state students do not have to pay. Ultimately, it's up to the applicant to double-check whether the school of their choice has any restrictions based on student address. Not every state has an online public school, so studentswho live in one of these states (or students who have no fixed address) and want to attend high school online must either enroll inan online school thataccepts out of state students or in a private online high school. If money is your main concern, then public school is definitely the way to go. List of All Free Online High Schools in the US Because we're focusing on only the free online high schools in this article, we are only listingonline public high schools in the US. After the list of the online public schools in the States, we will give a breakdown of the benefits of attendingan online high school and whether or not it could be the right fit for you. To navigate more quickly to your state of choice, click on one of the states below: Alabama, Alaska, Arizona, Arkansas, California, Colorado, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas,Louisiana, Maine, Massachusetts, Michigan, Minnesota, Mississippi,Nevada, New Hampshire, New Jersey, New Mexico,North Carolina,Ohio, Oklahoma, Oregon, Pennsylvania,South Carolina, South Dakota,Texas, Utah,Washington, West Virginia, Wisconsin, Wyoming [Note: if your state is not listed, it does not currently have a free online high school.] Click here to skip the list and go straight to reading about reasons to attend an online high school. Alabama Alabama Virtual Academy Conch County Virtual School Alaska Fairbanks Correspondence KPBSD Connections Frontier Charter School iGrad Alaska Arizona Agave Middle and High School Arizona Connections Academy Arizona Virtual Academy Hope High School Online Humanities and Sciences/International Commerce High School Insight Academy of Arizona Pinnacle Online High School Primavera Online High School Sequoia Choice Distance Leaerning Southern Arizona Community Academy Arkansas Arkansas Virtual Academy California A3 World Language Academy(Available for students living in: Kern, Los Angeles, Orange, San Bernardino, and Ventura counties) A3 California Prep(Available for students living in: Butte, Colusa, Fresno, Impreial, Inyo, Kern, Kings, Los Angeles, Madera, Merced, Mono, Monterey, Orange, Placer, Riverside, Sacramento, San Benito, San Bernardino, San Diego, Santa Barbara, Sutter, Tulare, Ventura, Yolo and Yuba counties) Academy of Arts and Sciences(Available for students living in: Contra Costa, Fresno, Imperial, Inyo, Kern, Kings, Lake, Los Angeles, Madera, Marin, Mendocino, Merced, Mono, Monterey, Napa, Orange, Riverside, San Benito, San Bernardino, San Diego, Santa Barbara, Solano, Sonoma, Tulare and Ventura counties) California Connections Academy, a consortiumof four different schools: Capistrano(available for students living in:Los Angeles, Orange, Riverside, San Bernardino, and San Diego counties) Central(available for students living in:Fresno, Inyo, Kern, Kings, and Tulare counties) North Bay(available for students living in:Colusa, Glenn, Lake, Mendocino, Napa, Sonoma, and Yolo counties) Ripon(available for students living in:Alameda, Amador, Calaveras, Contra Costa, Sacramento, San Joaquin, Santa Clara, and Stanislaus counties) California Virtual Academies Clovis Online School (Available for students living in:Fresno, Inyo, Kings, Madera, Merced, Mono, Monterey, San Benito, and Tulare counties) Delta Charter Schools Gateway Virtual Academy(Available for students living in: Merced, Fresno, Madera, Mariposa, Stanislaus, Santa Clara, San Benito, and Tuolumne counties) Insight Schools of California Inspire Charter Schools iQ Academy of California, Los Angeles(Available for students living in: Los Angeles, Kern, Orange, San Bernardino and Ventura counties) Keith McCarthy Academy(Available for students living in the Lake Elsinore School District) Method Schools(Available for students living in: Orange, Riverside, San Diego, Imperial, Los Angeles, San Bernardino, Ventura, and Kern counties) Moreno Valley Online Academy(Available for students living in the Moreno Valley Unified School District) Riverside Virtual School Sierra Plumas Virtual Academy(Available for students living in Sierra County) Colorado 70 Online(Available for students living in the Pueblo County School District 70) Colorado Preparatory Academy Colorado Virtual Academy Destinations Career Academy of Colorado Grand River Academy Peak Virtual Academy(Available for students living in the Montrose School District) Pikes Peak Online School PSD Global Academy Springs Studio for Academic Excellence World Academy Florida Bay Virtual Instruction Program(Available for students living in Bay County) Calhoun Virtual Instruction Program(Available for students living in Calhoun County) Clay Virtual Academy(Available for students living in Clay County) Collier Virtual School(Available for students living in Collier County) Florida Cyber Charter Academy(Available for students living in Clay, Duval, Hillsborough, Palm Beach, Pasco, Pinellas, and Osceola Counties) Florida Virtual School Franklin Virtual Instruction Program(Available for students living in Franklin County) Glades Virtual Instruction Program(Available for students living in Glades County) Indian River Virtual Instruction Program(Available for students living in Indian River County) Jackson County Virtual Instruction Program(Available for students living in Jackson County) Liberty County Virtual Instruction Program(Available for students living in Liberty County) Madison County Virtual School(Available for students living in Madison County) Miami-Dade Online Academy(Available for students living in Miami-Dade County) Mosaic Digital Academy(Available for students living in Martin, Okeechobee, and St. Lucie counties) MyDistrict Virtual School(Available for students living in: Baker, Bradford, Columbia, Dixie, Flagler, Gilchrist, Hamilton, Hardee, Hendry, Highlands, Lafayette, Levy, Monroe, Nassau, Okeechobee, Putnam, and Union counties) Nassau County Virtual School(Available for students living in Nassau County) Okaloosa County Virtual School(Available for students living in Okaloosa County) Osceola Virtual School(Available for students living in Osceola County) Polk County Virtual School(Available for students living in Polk County) Santa Rosa Online(Available for students living in Santa Rosa County) Sarasota Virtual School(Available for students living in Sarasota County) St. Johns County Virtual School(Available for students living in St. Johns County) Volusia Virtual School(Available for students living in Volusia County) Washington County Virtual School(Available for students living in Washington County) Georgia Georgia Cyber Academy Thomas County Virtual Program(Available to students living in: Thomas, Brooks, Mitchell and Colquitt counties) Wilcox County Schools Online Education Program(Available to students living in Wilcox County) Hawaii Hawaii Technology Academy Idaho Icon: Idaho Connects Online School Idaho Connections Academy Idaho Distance Education Academy Idaho Technical Career Academy Idaho Virtual Academy iSucceed Virtual High School Illinois Chicago Virtual Charter School(Available to students who reside within Chicago city limits and can attend the Learning Center for instruction once a week) Cambridge Academy at Cambridge Lakes Charter School Hadley Institute for the Blind and Visually Impaired Indiana Hoosier Academies Iowa Iowa Virtual Academy Kansas Basehor-Linwood Virtual School Haven Virtual Academy Insight School of Kansas Insight School of Kansas Adult Kansas Connections Academy Kansas Virtual Academy Lawrence Virtual School Turning Point Virtual Program Louisiana Grambling Laboratory Virtual School Louisiana Virtual Charter Academy Mentorship Academy Southern University Laboratory Virtual School Vernon Parish School District Maine Maine Virtual Academy Massachusetts Massachusetts Virtual Academy at Greenfield Commonwealth Virtual School Michigan Insight School of Michigan Jenison International Academy(Available to students who live in Ottawa, Kent, Muskegon, Newaygo, Montcalm, Ionia, Barry, and Allegan counties) Michigan District Virtual Programs Michigan Great Lakes Virtual Academy Michigan Virtual Charter Academy Westwood Cyber High School Minnesota Bluesky Charter School eMinnesota Online Academy Insight School of Minnesota iQ Academy Minnesota LinK ¹Ã‚ ² Lakeville Minnesota Connections Academy Minnesota Virtual Academy Minnesota Virtual High School MN Online High School VIBE Academy Wolf Creek Online Charter School Mississippi Mississippi Virtual Public School Nevada Nevada Connections Academy Nevada Virtual Academy Northeastern Nevada Virtual Academy New Hampshire Virtual Learning Academy New Jersey Newark Prep Charter School(Available to students residing within the city of Newark) New Mexico New Mexico Virtual Academy North Carolina North Carolina Virtual School Ohio Electronic Classroom of Tomorrow Insight School of Ohio Ohio Connections Academy Ohio Distance and Electronic Learning Academy Ohio Virtual Academy TRECA Digital Academy Oklahoma Insight School of Oklahoma Oklahoma Virtual Charter Academy Oregon Albany Online! Bend-La Pine Schools Online(Available to students in grades K–12 residing in the Bend-La Pine district and surrounding areas.) Crater Lake Charter Academy(Available to students residing in Jackson County School District and neighboring districts) Hermiston Online Program(Students from Hermiston district preferred, but will accept out of district students) Insight School of Oregon- Painted Hills Monroe School District Online(Available to students residing in Benton County.) North Wasco Virtual Academy Oregon Connections Academy Oregon iSchool Oregon Virtual Academy Pennsylvania 21st Century Cyber Charter School Achievement House Cyber Charter School Agora Cyber Charter School Bald Eagle Area Cyber Academy(Available to students who reside within district) Bangor Area School District Cyber School(Available to students who reside in Bangor, East Bangor, Portland, and Roseto, Lower Mount Bethel, Upper Mount Bethel, and Washington.) Berks Online Learning(Available to students residing in Berks County.) Boyertown Area School District Brandywine Heights Area School District Carlisle Area School District Central PA Digital Learning Foundation Conestoga Valley Virtual Academy(Available to students residing in Conestoga Valley School District) Ephrata Virtual Academy(Available to students residing in the Ephrata Area School District) Pennsylvania Cyber Charter School Pennsylvania Virtual Charter School Reach Cyber Charter School Southeast Delco School District Steelton-Highspire School District(Available to students in the Steelton-Highspire School District) Tulpehocken Virtual Academy(Available to students in Tulpehocken Area School District.) South Carolina Provost Academy of South Carolina South Carolina Connections Academy South Carolina Virtual Charter School South Dakota Black Hills Online Learning Community Texas Texas Online Preparatory School Texas Virtual Academy Texas Virtual School Utah Utah Virtual Academy Washington Insight School of Washington Internet Academy iQ Academy Washington(Available to students who live in the Evergreen Public School District) Learning 2 eSchoolof Wichita Mid Columbia Partnership North Franklin Virtual Academy(Available to students residing within North Franklin District) Washington Virtual Academies West Virginia West Virginia Virtual School Wisconsin Destinations Career Academy of Wisconsin IQ Academy Mighty River Virtual Academy Oregon School District Online Sparta Area School District Wisconsin Rapids Virtual School Program(Available to students residing in Wisconsin Rapids School District) Wisconsin Virtual Academy Wisconsin Virtual Learning Wyoming Washakie #1 Online(Available for students living in Washakie #1 County school district) Wyoming Connections Academy Wyoming Virtual Academy Reasons to Attend an Online High School Attending high school online isn't right for everyone, but for some, it can be the best way to earn a high school diploma. If you're thinking about enrolling in an online public school, you may want to think about whether these reasons apply to you and your circumstances. Schedule and Study Flexibility Taking courses online, rather than in person, allows students to set their own study schedules. So long as you engage in the school program for the necessary number of hours per week and complete your assignments, most programs allow you to study when and where you want. So if you're someone who hasan outside interestthattakes considerable time and needs to be scheduled arounddedicated athletes, artists, peopleworking full time, or anyone else who has tocommithours outside of school every weekattending high school online can give you the necessary flexibility to balance school with your other activities. Can Set Your Own Learning Pace Online high schools allow students to learn at their own pace, whether that pace is faster or slower than that of a typical physical public school.Because the courses in an online program are self-directed, this allows students to settheir own learning speed,rather than feeling frustrated that aclass is going too fast or too slow based on the needs of a whole group ofstudents. So if you are an academic achiever who wants to get ahead of your grade/age level, or are someone who is falling behind academically and need to slow down from your grade/age level, an online high school experience might be the right fit for you. Can Study From Home or on the Move There are an endless variety of reasons why taking classes and studying from home may be preferableto taking classes at a physical school. For these people, taking classes online is the perfect way to stay in school without being beholden to attending school physically. Perhaps you have a family that frequently moves and so cannot stay in one place for long enough to attend aphysical school. Perhaps you are someone who doesn't have easy access to a physical school or feels that nearby schools are unsuitable for whatever reason.Or perhaps you aresomeonewitha chronic medical condition or someone who needs to be otherwise home bound. Whatever the reason you may find taking classes from home is more suitable than taking classes outside the home, online high schools can provide the accommodationand adaptability that so many students need to complete their studies An Option for Teenagers or Adults Who Never Finished High School On average, people who receivea high school diploma earnmore than those who receivea GED. So, if you're someone who never attended or completed high school for any reason, you might think about earning an official diploma rather than testing out for your GED. An online high school program could be the right fit for you if younever completed high school, butstill want the complete high school experienceandan accredited diploma to show for it. What's Next? Want to learn more about online high school programs? Check out what it means for a high school to be accreditedand how to avoid non-accredited online schools. Still undecided whether or not an online high school is right for you? Learn more aboutthe pros and cons of attending an online high school. Thinking about different kinds of alternative schools (other than online)? Check out our guide to alternative schools and how they might be the right fit for you. Have friends who also need help with test prep? Share this article! Tweet Courtney Montgomery About the Author Courtney scored in the 99th percentile on the SAT in high school and went on to graduate from Stanford University with a degree in Cultural and Social Anthropology. She is passionate about bringing education and the tools to succeed to students from all backgrounds and walks of life, as she believes open education is one of the great societal equalizers. She has years of tutoring experience and writes creative works in her free time. Get Free Guides to Boost Your SAT/ACT Get FREE EXCLUSIVE insider tips on how to ACE THE SAT/ACT. 100% Privacy. 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Thursday, November 21, 2019
First Paper Assignment Essay Example | Topics and Well Written Essays - 1000 words
First Paper Assignment - Essay Example Thus, the thesis of this paper can be put like this: Killing in war is seriously morally wrong, because it is cruel and worthless deprivation of the most valuable one has which is human life. A number of analytical and psychological researches have been conducted on the reasons, causes, and consequences of one of group of people killing other group of people during war time. However, such appalling facts as raping and killing women and children are shocking evidence of human worst weaknesses and absence slightest responsibility for the most severe crimes. Contemplating on such problematic issue of human life as war, I would go as far as to claim that we do not need war and have to learn to live without it. Killing enemies in war, soldiers become automated machines of mass destruction which never stop even before helpless crying child (Calhoun 40). If one’s psychology is so complex that in war they do not distinguish their aims and enemies from helpless women and little childre n, then they should not engage themselves in war at all. Today, we are witnesses of revolutions and overthrowing of national leaders in the Islamic countries such as Tunisia, Egypt, and Libya. One of the major claims the Colonel Qaddafi’s son has recently made proves the leader’s interests in power and his philosophy that the end justifies the means: â€Å"We will fight until the last man, until the last woman, until the last bullet†(Kirkpatrick).War politics is often based on the assumption that killing combatants in war is self-defending act. It is concluded that war and killing are acceptable. Fighting and killing for one’s country, family, rights is considered to be even honorable. Soldiers are also human beings with their rights to life. Therefore, killing is deliberate deprivation of human life (White 414). In such a chain of logical arguments, it would be reasonable to conclude that end does not justify means. There is a statement which became com monplace during war times: kill or be killed. If to look at this statement from religious perspective, to be killed is honorable, while to kill is not. Furthermore, a person who is forced to kill like a soldier whose â€Å"duty†is to kill, will always have some psychological trauma or, at least, negative images in their mind related to killing and dead bodies of their enemies. Killing in war is similar to some animal instinct for surviving. Hence, any inclination to kill even as a duty in wartime is a rudiment of our ancestors who lived as tribes in caves fighting with their human and non-human enemies for survival. It is neither right nor just to divide soldiers into guilty and not guilty, because they are all the same. They are employed by someone else to do a dirty job which is to kill during a war. Killing then is called â€Å"carrying out of mission†– a very respectful job, one might think. If to assume that killing is self-defense, many combatants are ki lled of another reason, which is their enemy’s duty, to kill (White, 415). Therefore, all the war actions which involve intentional deprivation of someone else’s life cannot be morally excusable, because in most if not all cases it is murder. Killing in war should be looked at from a perspective of immorality of war itself. Duties and responsibilities of a soldier are to be thoroughly looked through and reconsidered. Fullinwider correctly states that killing is
Wednesday, November 20, 2019
Jimmy Cliff Research Paper Example | Topics and Well Written Essays - 1250 words
Jimmy Cliff - Research Paper Example â€Å"Reggae changed the traditional rock patterns by allowing guitar to play the off-beat chords, while the bass guitar played melodic patterns†(Reggae par.1). Jimmy Cliff was born on April 1948 in Somerton District of Jamaica; he was the second youngest among 9 of his brothers and sisters. His parents parted away when he was very young, so Cliff was brought up by his grandmother and father. His Grandmother played an important role in his career as she always encouraged him to sing and appreciated whatever he sang. She made him confident about his ability of doing something great one day. Family too played a very major role in Cliff’s life. Jimmy Cliff apart from being a well known singer is also known as an internationally famous musician and actor. With his 50 years of valuable contribution in the entertainment industry Cliff has two Grammy Awards to his credit and also the distinction of being one of the only two reggae artists inducted in the Rock and Roll Hall of Fame, the highest honour given by Jamaican government in the field of arts and sciences making him an international icon. With over 20 albums till date, Jimmy â€Å"Cliff has been one of the brightest stars of Jamaica’s thriving musical culture and was among the first to bring reggae to the worldwide audience†(Jimmy Cliff Biography par.1). ... Cliff’s later hit singles included King of Kings, Dearest Beverly, Miss Jamaica, Pride and Passion. â€Å"The harder they come†in 1972 gave him an opportunity to showcase his acting talent where he played the role of a boy who wanted to enter into the world of music but could not succeed and with time he gets involved in illegal activities and crime, his role was appreciated by all, the movie was a big hit and brought Jimmy and Reggae in international spotlight. His songs â€Å"Many Rivers to Cross†and â€Å"The Harder they come†were a massive hit. Jimmy always wanted to become an actor and in his school days he was appreciated for his acting skills and his prime will was to become an iconic actor and singing just happened by accident. Music and Acting has played a very important role in his life and these are the two things which gave him the recognition worldwide. His achievements in his career make him unique and he is unstoppable even at the age of 65. Jimmy Cliff is ready to play a new innings in his career with the sequel of his famous movie â€Å" The Harder they come†through which he dreamed to win his dream : The Oscar and is also working on his Grammy Fame Album Rebirth’s next part where he wants to experiment with something new apart from reggae. Jimmy also contributed a lot towards the society by raising his voice for the poor and deprived, he was very disturbed to see the plight of people in Africa and their discrimination on the basis of colour, through his songs like the opener, world upside down whose lyrics were updated by Cliff. His socially conscious songs on Rebirth included â€Å"Children’s Bread, with his harsh refrain, â€Å"They took the children’s bread and give it to the dogs...The time has come for us to right the wrongs.â€
Sunday, November 17, 2019
International entrepreneurship Essay Example | Topics and Well Written Essays - 2000 words
International entrepreneurship - Essay Example This definition of international entrepreneurship arises from the fact that IE arises from the desire to expand their operation beyond the borders of the countries of their operation. International entrepreneurship is becoming increasingly important in many economies around the world as corporations take advantage of the vast opportunities availed by globalization. Consequently, companies, both small and large multinationals, are increasing finding it necessary to expand their operations into other countries or regions so that that they can tap the numerous benefits availed by such ventures. Hence, a perfect definition for international entrepreneurship must entail the desire to create a successful business venture in a country different than the present country of operation. My definition captures this aspect of IE. Although the wording used in defining IE differs from one scholar to another, almost all of the definitions point to one area: that of seeking out and conducting new and innovative business activities across national borders. For example, McDougall and Oviatt (903) define IE as ‘a combination of innovative, proactive, and risk-seeking behavior that crosses national borders and is intended to create value in organizations’. ... McDougall and Oviatt go a step further in their definition to state that IE creates value in an organization. This is absolutely right as IE elevates the profile of a company to that of a multinational, particularly if it establishes markets in numerous international markets. Expansion into foreign markets also adds value in form the company gaining skills and experience from the challenges and successes realized in the foreign markets. The same concept is captured in by Zahra and George’s definition of IE when they mention that companies establish operations in foreign markets in pursuit of competitive advantage. Another definition for IE was given by IE scholars meeting in 2008. Taking into consideration McDougall and Oviatt’s definition, the scholars aimed to expand this earlier definition to make it more concise and add an outcome or value to it. After consultations amongst themselves, they defined IE as â€Å"the creation of economic value through cross-border ent repreneurial activity†(ie-scholars discussion). This latest definition simply echoes those made earlier, particularly that made by McDougall and Oviatt. However, they add the aspect of value creation through exports and imports. Due to the recent emergence of globalization and creation of trading blocs such as the EU, AU, and NAFTA it has become necessary to create a distinction between international entrepreneurship from traditional entrepreneurship. While both types of entrepreneurships involve innovation, risk-seeking behavior, and creatively discovering and exploiting opportunities, the former transcends national borders or goes beyond the company’s domestic market while the latter is concentrated within
Friday, November 15, 2019
Value Chain Analysis Toyota Motor
Value Chain Analysis Toyota Motor Toyota Motors vision is to be the most successful and respected company that can created the happiness for customers. Toyota also wants to be the best solution of the automobile industry with the variety of its products, and the best quality of its people and technology. Mission of Toyota motor is to provide customer with safe and sound journey. Because of Toyota concern with the environmental-friendly is the first and most important issue for its working, so it developed many new technology for energy saving and diversify energy source while Toyota also concern for creating a good and clean society. Meanwhile, Toyota Motor Thailands vision is to be the leader of Toyota Asia Pacific and Toyota motor network around the world that be the most respected and admired company in Thailand. For the mission, it wants to strengthen its production and support the collaboration in the Asia Pacific area that can achieves the high customer satisfaction and market share. Moreover, Toyota Thailand focuses on the safety with the first issue for its working and also wants to create social quality through many useful society activities. 2. Value Chain Analysis ( focus on Toyota Motor Thailand ) Toyota uses a Cost Leadership as its generic strategy. Toyota has been trying to reduce their costs in every stage of value chain but still, they need to maintain the high-quality standard. So, each stage of the analysis will show how it links the cost leadership strategy to the value chain. 2.1. Inbound logistics In this stage, Toyota receives parts from both local and international suppliers. They ship components from international suppliers by ships then deliver to production plant by trucks and for local suppliers in Thailand, trucks with full-loaded are used. This way they can buy components at cheaper price. Toyota makes suppliers making a commitment that they will share any innovation in the suppliers group that produces similar products. This will make suppliers produce better quality parts, more efficiently. Also they use Just-in-time and Milk run. (see appendix) Just-in-time is a part of lean management. It reduces lead time, inventory level, so holding cost decreases. In this stage, by applying JIT, we will receive parts from suppliers at the right time and right amount. Because we will order parts at the amount the production plants really need. For this method, you offset holding cost with ordering cost. Milk run is the method you use logistics providers to get auto parts from all suppliers in the routes and deliver to production plants. This method can reduce traffic at the production plants. There will be fewer trucks because sometimes many suppliers used to deliver their supplies to the plants but now only logistics providers truck with full-loaded of parts from different suppliers. Also, this will make inventory level decreases, because you will receive the parts many times a day, instead of getting a big lot once in a while. So cost in traffic management and holding cost decrease. 2.2 Operation After receiving components from suppliers, now production plants put all the parts together at their own production plants in Sum Rong, Gateway and Baan Poh. This can be called as Lean manufacturing which involve of Just-in-time, Jidoka and Kaizen. (see appendix) For Just-in-time, Kanban has been used to help achieving. Kanban tells you what to produce, when to produce and how much to produce by handing cards along in the production process. So you wont produce if the previous production process has not passed you the card, which also could not get started if there is no demand from customers. Also it could reduce lead time, which satisfies customers, because it can respond to customer demand immediately. Furthermore, no stocking occurs in the production plants. Jidoka can reduce defective goods by detecting the production process closely, so if any problem occurs in the assembly line, the production line will be stopped immediately, fixed and make sure that it will not happen again. When less defective goods occurs, the production system becomes more reliable, higher quality, the chance that customers will get defective goods will decrease, satisfaction increases. Kaizen is used to improve all functions continuously. It starts with idea generations, then tests the best with the standardized process, if it is good, they will apply that idea to the old process. The key in this method is to keep improving, never stop generating ideas and test to see whether it is a good idea. By Kaizen, it creates value to customers because they will get better and better product from the improvement in production process. For Toyota, it has worked on improving their lean manufacturing system in order to spread their fixed costs more over production. They have surpassed Ford and GM in production and costs. They can produce 15 cars per worker which is far more than the 4.7 vehicles per employee Ford can produce. By creating more cars to sell, Toyota has effectively spread their fixed costs over more production. 2.3 Outbound Logistics After products are finished, production plants need to delivery its finished goods with the full-loaded truck of cars directly to its own showrooms following the demand order of each showroom. Toyota Motor Thailand manages its own showrooms around the country. It helps customers to find Toyotas product easily. In the distribution process, Toyota will wait for the customers demand. Most of the car will be parked at the parking lots in which they are waiting for the purchasing orders from the dealers. For the cars that already have been placed purchasing orders from customers, they will be parked at the point of exchange and will be sent to the customers as fast as possible. And around 15 % of the cars that have been parking in the park lots will be sent to the near parking lots for further sending to the dealers In Thailand, there are 119 dealers with 319 showrooms that Toyota production plants in Thailand have to serve. For this outbound logistics in Thailand, Toyota has developed a system called Vehicle Logistics which is a cluster deliver. In the past, one truck can carry 3 large-sized cars and 6 small-sized cars. In nowadays, it is improved so that one truck can carry 4 large-sized cars and 8 small-sized cars. This also helps save the transportation cost for the company as well as reduces carbon dioxide emission to protect the environment which is one of the Toyotas purposes. 2.4 Marketing and Sales At this stage, Toyota communicates their cars by focus more on local area and specific lifestyle to satisfy the different need in each area by using below the lines marketing. It is because Toyota found out that auto market expanded more than 50% from the previous year and only mass media cannot build up attention of its target. So, Toyota decided to offer more of its events through segmenting lifestyles of its customers such as for people who love racing, Toyota offers the Toyota One Make Race which the event is for racing Toyota cars and to show quality of Vios and Yaris, around the country. For sport market, Toyota offer itself to be a sponsor in many sports that popular in Thailand, boxing and football, such as the Toyota Thai boxing marathon Vigo smart and the Toyota premier cup 2010. Toyota also provided 100 cars for the prize of short film competition in the Film Expo Asia 2010. However, Toyota tries to expand its events in every part of Thailand which Toyota will not control all of those events but local dealer to be the one who manage each event. This method can make Toyota get more attention from people in different lifestyle and help to increase the impulse purchasing from customer. Environmental friendly is the one that Toyota considers as its first issue for working. Therefore, Toyota pushes many CSR activities for save environment and improve the society such as the White Road Campaign to teach children about traffic regulations and safety through fun and practical lessons Toyota also communicates and updates its news through electronic media such as its website, www.toyota.co.th. Moreover, direct mail is a tool for people who want to receive news through e-mail from Toyota by register on its website. Brand ambassador also another tools that Toyota use for gain more attention from people by using celebrities who popular in at that time for promote its cars such as it used Joe-Wan AF to be brand ambassador for New Toyota Vios in concept of Make it happen. Even though Toyota focus more on below the line advertising but it also communicate its cars through Mass media such as Toyota launch its advertisement of New Toyota Vios, which has Joe-Wan AF to be a presenter, through television, radio, newspapers, magazine, and billboard. As a result, people aware that Toyota has new Vios in the market because mass media can communicate in wide area. Besides Toyota communicated its cars by advertisement and promotion for its current targeted, it tries to catch new target customer which is a teenager with in-trends lifestyle by building a place for hanging out, learning, and show up their creative of student at the center of teenager, Siam Square. This place was called The Style by Toyota which has the concept of Edutainment that people can come to this place to have fun with many entertainments and can also learn new technology or news of Toyota in the same time. Moreover, Toyota also launch a new model of its cars, Yaris beà ¢Ã¢â€š ¬Ã‚ ¦Groovy, to satisfy its new targeted which are teenager from 18-25 years old with fashionable lifestyle. Toyota change its Yaris to be superior and fashionable with its new technology ,such as engine start, from its Vios and Honda Jazz which is a main of its competitor. Therefore, the price of Yaris beà ¢Ã¢â€š ¬Ã‚ ¦Groovy also higher than the main competitor which is Honda Jazz for make customer s value its Yaris to be high quality than Honda Jazz. 2.5 Services After customers make a purchase of automobiles, the most important thing they need is customer service, which are check service. Toyota provides its customers a guarantee after purchased by 36 months or 100,000 km. depends on an offer. For this guarantee, if there is any defect components or any activity that affects from the irresponsible of an assembly line. Toyota will replace and fix those for free. This guarantee could also pass along through different ownerships but within 36 months or 100,000km. Express Maintenance is after sale service for car checking. They can give customers a fast service, normally within 1 hour or the given exact time by having 2 technicians check on your car and a boss to make sure that your car meets their standards. Also, they provide a very comfortable waiting room for customers or if you can ask the technicians about problems you have with your car, you can. From the room, you can see the place where all the cars are being checked. There are magazines, TV, snacks, soft drinks for customers to enjoy. Toyota Sure is a Certified Used Cars center. It is the place where you can sell, buy or exchange your used Toyota car with a better deal. They buy at a standard price. They make sure that the cars they are selling meet the same standard, with high quality. About 176 points need to be checked before they sell those cars. Every car that has been purchased, they offer a 1-year warranty or within 20,000. And they offer a wide service with more than 50 Toyota Sure across Thailand. 3. Porters Five Forces Analysis on Automotive Industry 3.1 Threat of new entrants: Barriers to entry Economies of Scale: High If we take a look at a big players in this industry; Toyota, Ford or GM, that sell the products to many countries all around the world. We could see that they are producing in the large amount. And of course, this is in the advantage of economies of scale. For automobile industry, it is very large and of course economies of scale must have been successfully reached. In order to compete in this big industry, a manufacture must be able to achieve economies of scale. It is generally valued to be a low-cost producer, sales of over four million vehicles a year are necessary. For this to happen, manufacturers have mass-production of the automotives so that the price of product will be affordable to the customers. This also implies that, the more the company produces the lower cost per unit. This means in term of the fixed cost like the rent, the electricity, the overhead cost, etc. The company can save the advertising cost and the transportation cost as well. As once they pay for the advertising cost or transportation cost, the cost per one unit is less if there are more units produce to sell. Therefore, for this industry, it requires high economies of scale for the businesses to compete. Product differentiation: High For the automobile industry, for sure there will be high product differentiation. As we can see in daily lives, many brands of cars are in the roads and even if in the same brand there will be many models available for customers to choose. Nowadays cars demonstrate a variety of features in which they differ from their predecessors that an entrant has to spend big amounts on safety, motor management, comfort, design, and numerous electronics functions. However, the innovative technology can also be one of the tools that established firms use to make their differentiation in products as well as create brand identification and customer loyalties. For example, Toyota has been introduced the hybrid technology in many models of their cars. This also helps save the environment. However, Ford also comes up with a new model called Ford Fiesta that inventing the new technology that uses drivers sound to control the cars. Therefore, in the present day technology and design can be use to create the differentiation between brands and this helps to satisfy the needs of customers as well. Capital Requirement: High The investment in capital is another barrier to entry that it keeps the difficulty and inconvenience for the new entrants to enter in the industry, since it takes a marvelous amount of capital to manufacture the automobiles. It takes an extreme amount of capital not only to be able to manufacture the products but also to keep up with the Research and Development (RD) cost that is necessary for the innovation requirements and product development. So, in order to start the business, it requires quite a high investment. There must be an investment in term of the factory, machines, warehouses as well as other supporting facilities like service facilities. Lets take a look at the example of Toyota, in the year 2010 Toyota has invested its fund for the development of environment technologies, maintenance and replacement of manufacturing facilities, and the introduction of new products. And the net cash used in investing with these activities was  ¥2,850.1 billion for fiscal 2010. Therefore, in starting or existing in the automobile industry, high investment in capital is substantial. Switching Cost: Low For the automobile industry, the switching cost is low. Lets say if you would like to change from buying a Honda car to a Toyota one, this would take you a little bit higher or smaller amount of money for you to pay. As there are many competitors for customers to choose and there are in competitive price, the price for each brand is not largely different. However, the switching cost is not only mean in term of the money or the amount you have paid, but this also involves your time, energy, and other costs that have been used to search or learn for the information base on the new brand you want to purchase. Since people get familiar with the car and they can also listen from the words of mouth from their family or friends so, they might not have to pay a large amount of time or energy to search for information. Therefore the switching cost from one brand to others is low and the gap of price among brands is not largely different. Access to distribution channels: High Access to distribution channels is another high barrier to entry. A company must find a dealership to sell their automobiles or consider having their own dealership. Also, considering with dealership, since space in the dealerships lots is quite limited. This makes it difficult to have a wider variety of inventory. And of course, to find a dealership is not that easy regardless of brand awareness Limited capacity within distribution channels (e.g., brand reputation), risk aversion by dealer ship, and the  ¬Ã‚ xed costs associated with carrying an additional product can result in retailers being reluctant to carry a new manufacturers product Government policy: High Local content requirement is one of regulation that government set to protect the local automobile companies to get hurt from the foreign automotive manufacturer that access to invest in lower cost countries. It is a regulation, that automotive manufacturer, especially on Toyota which is the biggest firm from Japan have to follow, that required manufacturer to use some parts of car that come from local country. In Thailand, the government required that about 85% of local parts are for picks up cars production, almost 70% are for passenger cars, and around 100% are for motorbike. Imported car tax requirement is one major of regulations that control the quantity of imported finished or unfinished cars to target countries. In Thailand, the imported cars tax are charged around 200-300% of car values while the cars that produce in Thailand are charged only 40-70% of cars values. Even with the same brand, same series would be more expensive if it is imported. Therefore, the government policy of automaker in Thailand is high because government issued the law for protect the local firm intentionally. Which mean its really hard for new entrants to import their cars or invest production in Thailand because regulations that government required, new automotive manufacturer need to have good relationship of suppliers to send the parts for productions and if some parts of productions need to import from oversea, it will effect a lot for new manufacturers to face the high cost of tax. In conclusion, the threat of new entrants for automotive industry is high. 3.2 Threat of substitute products: Low Transportation system such as buses, trains, motorbike, sky train, subway, ferries, and airplane are consider as one major of substitute products of automobile. Because transportation system can satisfy people need that for transport people from one place to another, similar to automobiles. Moreover, nowadays the oil price is rising continuously due to the hedge of world price of oil; it tends to motivate more people to use transportation system which can save their money. Environmental effect is also one reason that makes people turn to transportation system because of the driving more cars, the more Co2. So, people concern more of the earth and environment that make them try to change their lifestyle. As people take more interest on time than before especially on working time in urban people so instead of get stuck on the road from traffic jam and wasting time, people turn rely on sky train and subway for saving time and cost. In Bangkok, even though it has the rate of using sky tr ain slightly increased from 132,071,000 people to 146,964,000 people in 3 years, but the rate of cars on the road also high more than 2 times when it compare with the sky train using rate in same period of time. Moreover, for Thai people, car is more than a vehicle. It also shows the image and social status of the driver. That is why Thai people value cat as social materialism and they do not want to go by public transportation like bus to show lower social status. (see table in appendix) Walking, riding bicycle is other substitute product for using car because these activities can also bring people to other place without tax paid like taxes of imported car, and it can benefit more for personal health and environmental advantages. But concerning with Thai weather which is quite hot, therefore it is quite impossible for a person to go by bicycles in a far distance. Therefore, threat of substitute products of automobile is low. As well as, the management of transportation system in Thailand is lower than the standard that should be. In addition, Thailand do not have good city plan system for transportation so people in Thailand willing to pay more of cost and time for private cars more than using transportation system. Moreover, the weather in Thailand is not suitable for walking or riding a bicycle for other place because it too hot and wet. So even though there are many ways to transport people from one place to another place but private car also offer people more personal and comfortable. 3.3 Suppliers Power: Low As there are about top 49 vehicle manufacturing groups (by volume), range from big players like Toyota, General Motor, Volkswagen Group to local groups such as, Ashok Leyland from India, Navistar International Corporation from USA which produces trucks, internal frameworks, Diesel engines, buses, and school buses. For suppliers, there are about thousands suppliers around the world. When talking about suppliers, it means to supply from very small components such as battery boxes, battery switches, electrical fuses, etc. to bigger components, such as wheels and tires because normally car makers outsource those components and out together those components in their own manufacturing plants. So, suppliers power in automobile industry is low because they are lots of suppliers with very few top vehicle manufacturing companies. This means automakers have a high bargaining power over the suppliers; the suppliers rely much on those auto makers. If the supplier does not meet auto makers expectations or rules in terms of standard, price, lead time, etc., they can just switch to a new supplier. 3.4 Bargaining Power of Buyers: Moderately high The buyers can purchase almost all of the industries output since there are many brands for them to choose. The manufacturers depend on them to stay in business. The buyers also are a significant portion of the industries revenue. If they cannot keep their buyers with satisfaction then they are in risk to lose them to their competitors. However, the buyers may go for the other brands if they are not satisfied. All the buyer do is sell the car they own and purchase a new one. For example, like I buy a car from Toyota and I am not satisfy with it I can sell it and purchase a new Honda. The reasons why the power is not completely high is that the buyers are not large and few in number. The buyers do not have the ability to integrate backwards into the industry. If they want a car then they have to purchase it from a dealership. 3.5 Intensity of rivalry among competitor: High In Thailand, Toyota holds almost half of the market share, along with 2 big holders which are Isuzu and Honda. So we could say that automobile industry is a consolidated industry, which means it has few big players who hold major control within the industry. For car industry, they compete in the similar target market, price, and product innovation. When one company comes up with one of those techniques, other companies tend to follow. For example, Toyota Yaris launched the first generation in 1999; two years later Honda Jazz had been introduced to the market and in 2007 Mazda launched Mazda2 to the market. These 3 cars, Jazz, Yaris and Mazda2 are segmented as a hatchback subcompact car. They target same group of people who are looking for affordable transportation with fuel efficiency, young and energetic. They all come with slightly different prices with slightly different options, performance and promotion. (see appendix ) For automobile industry, the intensity of rivalry is high because there are few big players where 1 product innovation encourages other companies to launch the same type of product, either with the same or better function or more valuable. They could not let anyone take a step ahead for so long, because they would lose a high market share to the product leader. 5. Implementing Strategies Lean Manufacturing failure and Vertical Integration Toyota had to recall millions of Prius, Tundra and many other models during the past years, from their gas-paddles, floor mats, fuel-pressure sensor, etc. These results from Toyota tried to cut their unnecessary costs too much, to reduce any waste as it said in Lean Manufacturing strategy. The reason why many models of Toyota had been recalled is because Toyota used the same model of those defective goods from suppliers in many models, to gain more Economy of Scale, for company to reduce cost and get a higher margin. These recalls caused sales of Toyota to decline by 16% last year. As we can see that the problem arises from defective goods from a supplier, so we could apply the Vertical Integration to supply components, instead of outsourcing. This way we can control and maintain a standard of Toyota cars, protecting a companys image and creditability. Push and Pull Strategy As Toyota has been implementing the Pull Strategy, which mean they usually wait for the demand to come then produce, as applying the Kanban tools. But sometimes, this results a long lead time for customers. From this situation, Toyota should integrate Push and Pull strategy together to balance customer satisfaction and cost. For Pull strategy, they already gained a benefit from producing less excess inventory, reduce cost, and flexibility of products increases. But for Push Strategy, they can use for high-stable-demand products. For example, applying push strategy with the popular car color, features and model. So if you already have those high-demand cars for customers, customer satisfaction will definitely increase, due to less lead time. Normally, people tend to buy more cars during the Motor Show session because they get a better deal. In this case, after having a demand forecast, we could produce cars in advance. Centralized distribution system This strategy is used to respond to Push Strategy because when finished goods are waiting for demand, they will need a space for cars to store. By using this system, fixed cost, renting cost, overhead cost, electricity and water, etc. reduces; also inbound cost because instead of delivering goods to many distribution centers, you only deliver to fewer centers, risk decreases but outbound cost increases, comparing to cost that incurred from decentralized distribution system. Time Postponement Toyota has been implementing the Manufacturing Postponement, which directly links to Kanban, wait for demand to start producing, but if Toyota would apply the Push strategy and centralized distribution system, they should apply Time Postponement Strategy too. Because it means that the finished cars would be kept in central location and wait for demand to deliver the orders to customers. Demand Driving Strategy As we want to implement the Push Strategy along with the Pull Strategy, Toyota can use this strategy to forecast demand for Push Strategy from historical data to develop an expected demand from customers. But also demand could change, due to marketing, advertising campaign on your products, trends (about color for example), economic condition, etc. So as you forecast, these factors should be include under your consideration, in order to get the most accurate forecast. And the more accurate your forecast is, the fewer inventories you have to hold, the more cost reduction and the more customer satisfaction. Graph1: the comparison of using Sky Train and cars from 2007 to 2009 in Thailand. Table1: The table shows the specification of Toyota Yaris, Honda Jazz, Mazda2, and Suzuki Swift. Toyota official website www.toyota.com Toyota Thailand website www.toyota.co.th/th/toyota2009_home Figure 3: Milk Run delivery system Figure 4: The differences between doing business as usual and practicing Lean Manufacturing Figure 56: Toyota Production System including Just-in-time, Jidoka and Kaizen Guarantee after sales Express maintenance Toyota sure Below the line Mass media Vehicle logistics Deliver directly from plants to dealer Just-In-Time Milk Run Just-In-Time Jidoka KaiZen Figure 2: Strategy used in Toyota Motor Thailand Value chain Appendix A Figure 1: Toyota Motor Thailand Value Chain Appendix B Toyota Innovative Technology Hybrid Technology What is hybrid technology? A hybrid system combines different power sources to maximize each ones strengths, while compensating for the others shortcomings. A gasoline-electric hybrid system, for example, combines an internal combustion engines high-speed power with the clean efficiency and low-speed torque of an electric motor that never needs to be plugged in. Are all hybrids creating equal? There are several ways in which electric motors and a gas/petrol engine can be combined. Toyota perfected the series/parallel or full hybrid to deliver the energy-saving benefit of a series hybrid together with the acceleration benefit of a parallel hybrid. Two key technologies the power split device and sophisticated energy management make this possible. They constantly optimize the flows of mechanical power and electric power for safe and comfortable vehicle operation at the highest possible efficiency. The Full Hybrid Toyotas unique hybrid system combines an electric motor and a gasoline engine in the most efficient manner. It saves fuel and reduces emissions while giving ample power. For more information: www.toyota.global.com/innovation/environmental_technology/hybrid/ THE TOYOTA PRODUCTION SYSTEM Toyotas approach to automobile production, with its inherent quality controls, revolutionized the industry. Its just-in-time supply-chain concept has become a model for manufacturers around the world, and not just for automakers. The Toyota Production System (TPS) calls for the end product to be pulled through the system. This means the right parts reach the assembly line at the right place, just as they are needed, and with no excess. This approach represented a radical departure from conventional manufacturing systems, which require large inventories in order to push as much product as possible through production lines, regardless of actual demand. The idea of TPS, the contrary, is to produce only the products required in the precise quantities desired at a given point in time Focus on flexibility By basing production on demand rather than simply on capacity, Toyota manages to keep inventories, both of parts and of finished goods, to a strict minimum. But this is only one of the more obvious advantages of Toyotas unconventional approach. By focusing on smaller production lots and producing only what customers require when they require it, Toyota has developed a flexibility and responsiveness that continues to set the standard for the industry. With its attention to continuous improvement (Kaizen), Toyota has attained die-changeo
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