Thursday, October 31, 2019

HOW THE WORLD TRADE CENTER SITE IN NEW YOURK CITY IS NOW AND Essay

HOW THE WORLD TRADE CENTER SITE IN NEW YOURK CITY IS NOW AND 'IMGAGINARY PLACE - Essay Example places: sites associated with emergence and migration tales; sites of trails and pilgrimage routes; places essential to cultural survival; alters; vision quest sites; ceremonial dance sites; ancestral ruins; petroglyphs and pictographs; or burial and massacre sites) DESCRIBE HOW THE WORLD TRADE CENTER SITE IN NEW YOURK CITY IS NOW AND IMAGINARY PLACE". Is this important for 21sat century Americans? Why or why now? The continuous development of technology has led to the change of social and cultural structure in most countries within the international community. The format of infrastructure systems in states around the world has been also influenced; the urban design has been differentiated in order to meet the needs of people in current social and ethical conditions. Under these terms, sciences like sociology and even mythology have been called to explain the changes in all aspects of human life trying to identify the reasons that led to the deterioration of the quality of life especially in big cities worldwide. Current paper focuses on the examination of the characteristics of a specific place: the World Trade Center in New York. The above term (characteristics) refers to the influences of this place on the lives of people – not only locally but also around the world. In the past, the specific place was considered to be the center of commercial activities in the specific town influen cing the development of commerce in USA; the reason was that the headquarters of many – well known firms were established in the specific buildings – two towers, the so called ‘Twin Towers’ and five smaller buildings. The specific site was destroyed in 2001 after a terrorist attack costing the life of about 2750 people. Currently the World Trade Center site is under re-construction but it will take many years for the local community to recover. The effects of the events of September the 11th – date of terrorist attacks that destroyed entirely the specific site – have

Tuesday, October 29, 2019

Investment in the Indian Education Sector Essay Example for Free

Investment in the Indian Education Sector Essay Education is the key to unlocking and building lasting value in a robust economy. For any country to grow and prosper, a well-positioned educated young population is the fundamental requirement to meet the demands of an increasingly global economy and productive value creation. India has amongst the largest student population in the world and a low literacy level of 74. 04% (2011)1. According to census 2011 figures, over 35. 3% of the 1. 21 billion people are between the age group 0-14 years. Additionally, there is shortage of employable manpower in various industry segments. In order to meet this existing and emergent demand, there is huge need of investments in the Indian education sector. Currently, education is primarily handled by the government through its infrastructure and budget outlays. But given the small budget outlays and complex regulatory structure, supply is lagging far behind the demand of education. Expenditure on Education as %age of GDP 6000 GDP in thousnad Crores 5000 3. 64 4000 3000 3. 36 2000 1000 0 2001-02 2002-03 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2,098 2,261 2,538 2,878 3,282 3,779 3. 51 3. 45 4,321 4,933 3. 81 3. 74 3. 80 3. 70 3. 60 3. 50 3. 40 % expendutire on education 3. 78 3. 78 3. 90 3. 30 3. 20 3. 10 Source: Ministry of Human resource and Development (MHRD), Government of India REGULATION India’s tightly controlled regulatory structure is the primary reason for shortage of quality education institutions. Being in â€Å"Concurrent list†, education is being governed by both Central and State government with huge variations amongst the state regulations. Currently, the government regulates who you can teach, what you can teach them and what you can charge them. Some of the key bodies regulating education in India are:? Schooling o Department of School Education and Literacy MHRD o Central Board of Secondary Education (CBSE) o Various State Boards o National Council of Educational Research and Training (NCERT) 1 Census of India, 2011 Page 3 A research report on Investment in Indian Education Sector ? Higher Education o Department of Higher Education MHRD o University Grants Commission( UGC) o All India Council of Technical Education (AICTE) o Statutory Councils ? Medical Council of India (MCI) ? Bar Council of India (BCI) ? National Council of Teacher Education (NCTE) Voluntary Education and Skill Development o National Council for Vocational Training (NCVT) o National Skill Development Corporation (NSDC) ? In order to overcome this overlapping nature of various governing bodies especially in higher education, government is planning to come up with National Commission for Higher Education and Research (NCHER). This commission would work as a single regulatory body which would determine, co-ordinate and maintain standards in promotion of higher education and research. It will subsume regulatory bodies such as UGC, NCTE and AICTE, thus making the process more streamlined. KEY POLICY/ACT ? Foreign Educational Institutions(FEIs) o Allows FEIs to setup multi-disciplinary campuses and award degrees o Mandates FEIs to reinvest surplus from Indian operations o Mandates FEIs to invest at least 51% of capital expenditure required o Regulates the admission process, fee structure, period of operation of FEIs Right to Education o Makes access to primary education a fundamental right o Mandates 25% reservation for underprivileged students in schools? BUDGET 2011 HIGHLIGHTS ? ? ? ? ? Allocated an amount of Rs 52,057 Crores for universalizing access to secondary education Allocated an amount of Rs 21,000 Crores for Sarva Shiksha Abhiyan Increased the total allocation by 24% over the previous year Lack in allocation of funds for Teacher improvement and training Lacked emphasis on the K-12 sector in terms of school improvement, quality control etc. EDUCATION IN INDIA Indian education sector has witnessed a series of changes in the last few years, which resulted in a significant increase in market size of the education industry. With economic growth and enhanced technology it has become necessary to develop the Indian education sector. Funds are a major concern in the market to meet this demand. The government has taken many initiatives for the development of education infrastructure which needs to be supplemented led by private players. The government has also opened the doors for foreign universities by passing Foreign Educational Institution (Regulation of Entry and Operation) Bill, 2010, which will help in shaping the education industry structure specially pertaining of higher education in India. A research report on Investment in Indian Education Sector About 185,000 Indians study overseas and spend USD 4 billion annually. This is almost 10% of the private spend on education, coming from a very small 0. 001% segment of the student population. A number of these students are now returning to India after completing their studies, as job markets in India are more attractive, especially in contrast to weak macro scenarios in the western markets. Entry of leading foreign institutions will enable some of this USD 4 billion spend to stay in India, and also provide a much needed boost to quality. STRUCTURE Indian education system can be divided into formal and informal segments which are further divided into sub-segments. Formal education segment broadly comprises schools and higher education institutes. Schools often classified as K-12(Kindergarten to 12th) caters to ‘3-17 years’ age group. While higher education includes graduate, diploma, professional and post-graduation courses caters to ’18-22 years’ and above age group. On the other hand, informal education segment comprises of preschools, multimedia, ICT, vocational training, books and coaching classes. This segment is free from regulation as opposed to highly regulated formal education segment. Schools (K-12) Formal Higher Education Preschools Indian Education System Multimedia ICT Non-formal Vocational training Books Coaching classes Page 5 A research report on Investment in Indian Education Sector INTERNATIONAL SCHOOLS India is home to several well acclaimed International Schools and is increasing rapidly. This demand has been fuelled by parents looking for a new system of education which is more interesting and less stressful. Also, large number of NRIs resettling in India is also contributing to this demand. Being in India these schools have to adhere to certain requirements of the Indian national system irrespective of the examination system adopted by them. Most of the international schools opt for the International Baccalaureate (IB) Board. However, there are other examination systems like the General Certificate of Secondary Education (GCSE) and General Certificate of Education (GCE) examination systems which are also present. The IB is a recognized leader in the field of international education. It is a non-profit, mission-driven foundation that offers three programs for students aged 3 to 19. ? ? ? Primary Years Programme (PYP) Middle Years Programme (MYP) Diploma Programme -For students aged 3 to 12 -For students aged 11 to 16 -For students aged 16 to 19 In India, most international schools offer IB Diploma Programme. In this students study six courses at higher level or standard level. Students must choose one subject from each of groups 1 to 5, thus ensuring breadth of experience in languages, social studies, experimental sciences and mathematics. The sixth subject may be an arts subject chosen from group 6, or the student may choose another subject from groups 1 to 5. Additionally, the programme has three core requirements that are included to broaden the educational experience and challenge students to apply their knowledge and understanding. The â€Å"extended essay† is a requirement for students to engage in independent research through an in-depth study of a question relating to one of the subjects they are studying. â€Å"Theory of knowledge† is a course designed to encourage each student to reflect on the nature of knowledge by critically examining different ways of knowing (perception, emotion, language and reason) and different kinds of knowledge (scientific, artistic, mathematical and historical). â€Å"Creativity, action, service† requires that students actively learn from the experience of doing real tasks beyond the classroom. Students can combine all three components or do activities related to each one of them separately. Some of the International Schools in India:? ? ? ? ? ? ? ? ? ? ? ? Aditya Birla World Academy-Mumbai American Embassy School- New Delhi Amity Global School-New Delhi D Y Patil International School-Mumbai and Nagpur Dhirubhai Ambani International SchoolMumbai GD Goenka World School-Gurgoan Indus International School-Bangalore, Hyderabad and Pune KiiT International School-Bhubaneswar Pathways School-Gurgoan, Noida and NewDelhi Stonehill International School-Bangalore Sharad Pawar International School-Pune Doon School -Dehradun Page 6 A research report on Investment in Indian Education Sector ANALYSIS OF VARIOUS SEGMENTS BASED ON KEY PARAMETERS. Growth Prospect Yes Yes Yes Yes Yes Yes Yes No Regulated No Yes Yes No No No No No Scalable Yes Yes Yes Yes Yes No No No Possibility to Create Value Yes Yes Yes Yes No No No No Preschool Schools(K-12) Higher Education Multimedia ICT Coaching Classes Vocational Training Books GROWTH DRIVERS ? ? Demographic advantage o As per Census 2011 ,35. 3% of the Indian population is under the age of 14 Increasing awareness o Increase in awareness towards education as a priority and essential tool for career growth o Increase in job opportunities and salaries offered making investment in education prudent Human Resource driven economy o Increase in  the demand for an educated skilled workforce by services sector o Share of service sector in GDP increased from 30% in 1950 to 55% in 2007. Technology aided delivery o Increase in penetration of technology resulting in virtual learning and education delivery New employment avenues o Newer employment avenues such as KPO, LPO, retail, aviation, animation etc. demanding highly skilled manpower ? ? ? INDUSTRY FORECAST SCHOOLING. Segment Pre-School K-12 Tutorial Books Stationery Education CD-ROMs Multimedia in School Total 2008 1,200 21,000 5,000 1,700 1,380 120 25 30,425 CAGR 20%-25% 5%-10% 8%-13% 5%-10% 5%-10% 25%-30% 60%-70% 2013 3,500 30,800 8,000 2,400 2,000 390 320 47,410 CAGR 10%-15% 5%-10% 5%-10% 3%-8% 3%-8% 20%-25% 50%-60% 2018 5,800 43,200 11,800 3,000 2,600 1,100 3,300 70,800 (Figures in USD million) Page 7 A research report on Investment in Indian Education Sector HIGHER EDUCATION. Segment Higher Education Preparatory Total 2008 6,700 1,600 30,425 CAGR 8%-13% 13%-18% 2013 11,200 3,200 47,410 CAGR 7%-12% 10%-15% 2018 18,100 5,900 70,800 (Figures in USD million) VOCATIONAL EDUCATION AND SKILL DEVELOPMENT Segment Child skill enhancement IT training E-learning Finishing school Vocational Teacher training Total 2008 740 195 45 25 1,500 15 2,520 CAGR 20%-25% 35%-45% 35%-45% 50%-60% 15%-20% 50%-60% 2013 2,200 1,050 240 235 3,100 140 6,965 CAGR 17%-22% 33%-38% 33%-38% 45%-55% 10%-15% 45%-55% 2018 5,600 4,700 1,100 1,800 6,200 1,100 20,500 (Figures in USD million) Source: Technopak report on India Education Sector INVESTMENT SCENARIO With an education network of more than one million schools and 20,000 higher-education institutes, the market size of the Indian education system is estimated at more than US$40 billion2 (2009). However, inadequate infrastructure has placed pressure on the sector’s overall development. Education sector is unable to cope with growing market demand and global competition due to constrained investments. Increased private investment is imperative to expand infrastructure and provide greater access to quality education. Also, Government is planning to set up an education ? nance corporation with an investment of around US$4–5 billion, which aims to provide the education sector with long-term, low-cost ? nancing. PUBLIC PRIVATE PARTNERSHIP (PPP) PPP can provide the much needed finance to the education sector while serving as an efficient operating model. Establishing strong partnerships between private and public sector can achieve the growth. POSSIBLE PPP STRUCTURE The educational institute (special purpose vehicle) is set up as a Society or Trust, as per applicable guidelines. The UGC, AICTE or some other central regulatory body approves norms and standards of the institute. The state provides applicable administrative and financial support to the institute. Capital outlays are met by an educational services entity which 2 EY’s Private Equity Round Up April-June 2010 Page 8 A research report on Investment in Indian Education Sector provides infrastructure. The educational services entity charges a fee for use of facilities by the Society or Trust. Finally, the infrastructure facilities are transferred to the institute after a particular time period. Central Government State Government AICTE, UGC approvals Provision of grants Local approvals Land and utilities Trust/Society Service fees Infrastructure Service Provider Transfer of Infrastructure after prescribed time period Source:-2009 E Y – EDGE 2009 report on Private Enterprise in Indian Higher Education KEY PLAYERS GLOBAL ? ? ? ? ? ? ? ? ? ? ? ? ? ? Apollo Group (USA) Mcgraw-Hill (USA) Pearson Plc (England) Benesse Corp (Japan) Devry Inc (USA) ITT Educational (USA) Strayer Education (USA) New Oriental (China) Career Education (USA) Corinthian College (USA) Capella Education (USA) Raffles Education ( Singapore) Mega Study ( South Korea) SkillSoft ( USA) Page 9 A research report on Investment in Indian Education Sector INDIA FORMAL ? ? Preschool o Kidzee o Euro Kids Multimedia in private schools o Educomp o Everonn o NIIT Vocational Training o NIIT o Aptech o Frank Finn Coaching Classes o FIIT-JEE o TIME o Career Launcher Books o Tata Mcgraw Hill o John Wiley o Navneet Publications ? INFORMAL K -12 (School) o Millennium Schools (Part of EduComp) o Kids Zee High o Billabong High (Part of Kangaroo Kids) o GEMS ( Dubai based) Higher Education o Manipal Education o Amity o IIPM o ICFAI ? ? ? ? MAJOR DEALS INVESTMENTS ? ? ? ? Rs10 billion investment plan from educational institutes in Haryana’s Rajiv Gandhi Educational City ( January’11) RS 28. 08 billion investment for setting up 20 IIITs under PPP route ( January’11) Everonn Rs 36 billion investment plan to setup 300 K-12 schools by 2015 (July’10) Educomp Rs 510 million contract to provide computer education in Bihar’s schools (May’10). PRIVATE EQUITY DEALS Education sector has witnessed 29 PE deals (refer Exhibit 1), cumulatively worth US$381 million, between January 2006 and June 2010 (as per Private equity roundup April-June 2010 by Ernst and Young). The majority of these investments have been in for-pro? t corporate entities that are not subjected to any government regulations. In future, with increased government spending and expansion plans of private players, the potential for PE investments in the Indian education sector is significant. Additionally, sector’s less correlation with the broad economic growth makes it more attractive. Page 10 A research report on Investment in Indian Education Sector SEGEMENT WISE BREAKUP OF PE INVESTMENTS IN TERMS OF NUMBER OF DEALS 9 8 7 6 5 4 3 2 1 0 3 3 1 2 2 1 1 1 1 1 2 1 1 2 Vocational Preschool K12 Education technology 4 College/University 3 Coaching 2006 2007 2008 Number of Deals 2009 2010 SEGMENT WISE BREAKUP OF PE INVESTMENTS IN TERMS OF DEAL VALUE 160 140 120 100 80 60 40 20 0 2006 2007 83 30 74 1 2008 43 2009 2010 12 13 10 37 5 9 23 Vocational 39 Preschool K12 Education technology College/University Coaching 67. Deal Value ( US$ million) Sources: Asian Venture Capital Journal; Dow Jones Factiva; ISI Emerging Market MAJOR ISSUES ? ? ? ? ? Overregulated and under- governed Not for profit structure and all surplus needs to be reinvested High involvement of politicians in higher education industry with no willingness to change the existing structure High land prices and hoarding of land reserved for educational purposes for resale Fragmentation in the sector due to difficulties in achieving scale Page 11 A research report on Investment in Indian Education Sector.

Sunday, October 27, 2019

The Fetch Execute Cycle Computer Science Essay

The Fetch Execute Cycle Computer Science Essay Within this report about Computer Hardware, the report will cover the main concepts of computer hardware. Within this report there will be information about the main concepts of a computer system also. These main concepts will include Processors, Memory (Primary and Secondary), Input and output devices under the user types and networking, and support elements that will help the overall performance of a computer. Processors are parts of the computer that heart and brain of every computer, as it allows the processing of data in the computer system as well as the allowing instructions to be stored onto memory. The processor communicates with all the components of the computer. It mostly helps with the hardware, memory, and RAM of the computer or laptop CPU The CPU or central Processing unit is the most important and without the CPU the system would not be about to process anything. The Primary usage of the CPU is when instructions for the computer are created. Instructions are taken to decode a number of data types from programs. The CPU has to implement 4 basic functions during the fetch execute cycle; these are Fetch, Decode, Execute and Store (Hubapges, 2012). Fetch-execute cycle The Fetch-execute cycle is the sequence that the CPU gets an instruction from a certain program memory, decodes the incoming message and carries out that certain request. (Rob Williams, (2006) p52-54). Each of the instructions has an address, and the processor takes the address from something called the program counter. The program counter is in charge for tracking what instructions the CPU should execute. In basic teams instructions from memory being tracked (Hubpages (2012). The Following are the stages from inside a Fetch-execute Cycle Decode Once the CPU fetches the instructions, decodes the instruction, and then strips it down so that it can be easily executed (Complete PC Pedia. 2010). However some CPUs understand different types of instructions. For Example Assembly codes must be decoded into binary instructions. (Hubpages, 2012). Execution -After the decoding has been executed, memory is needed for data to be performed. For example a command to print is given when the first instruction has reached the CPU. Store after the execution, the CPU writes the results onto the main memory or on a register. The CPU must then give some feedback after execution. Then output data is written to the memory.Made in a presentation owned by De Montfort University, copyright them. To the right is a diagram that shows the basic stages of the fetch-execute cycle Shane Preece. (2008) Registers Whenever the processors execute instructions, data is temporarily stored in local memory locations of 8-64 bits called registers. The type processor the machine owns depends on the overall number of registers which can vary from ten to many hundreds and even thousands. There are many types of registers but the main ones are listed below. Accumulator register which stores arithmetic operations, as well as logical one; Status register holds system status indicators such as overflow; Instruction register contains the current instruction being processed; Ordinal counter contains addresses of the next instruction; (Kioskea.net. (N/A)) Examples of other Processors Microprocessor: A microprocessor is a circuit that has been integrated on a tiny silicon chip that contains millions of tiny switches on/out, known as transistors. These are laid along microscopic lines that store or manipulate data. These circuits copy data in patterns, and these patterns that can be programmed by software to help the machine do many useful tasks. (Belarus network. (2009).) Graphics processing unit (GPU) The Graphics Processing Unit is somewhat like the CPU (Central Processing Unit). GPU is a single-chip processor. While the CPU acts like the brain of the system, the GPU is primarily used for the computing 3D functions. For example lighting effects, object transformations, and 3D motion. (TechTerms.com. (2012)) Memory Memory is split into two parts. Primary and Secondary Primary memory is one of the most important parts of a computer. The processors inside the computer stores and retrieves information from the memory and is accessed by the CPU in a random order making RAM or random access memory. So any location of this memory can be accessed by the CPU to store or read. Random Access Memory, or RAM, is the most common under the major types of Semiconductor memory. RAM has the ability to both read data from memory and also is able to write new data into memory really easy and incredibly fast. Both reading and writing is done via electrical signals. However RAM is classed a volatile. This is when the memory is deleted when there is no power resulting in the loss of data. Leading to RAM used only as temporary storage. RAM also has two different types being DRAM and SRAM. (William Stallings (2006). 148-149.) DRAM or Dynamic memory is made with cells that hold data as charge on capacitors. The showing of charge in is the binary code of 1 or 0 when present or absent. DRAM is used in main memory. (William Stallings (2006). 148-149.) SRAM or static random access memory is made up of 1000s of flip-flop circuits. While SRAM is the much fastest between the two, it is the most expensive of read-write memory. The SRAM is the fastest on-chip cache memory. Also compared to DRAM, it is low power consuming and is brilliant for battery-powered portable machines. SRAM is used in cache memory. (Rob Williams (2006). p121.) ROM Read only memory contains patterns of data that cannot be edited or changed. ROM is classed as non-volatile, meaning no power supply is needed in order to maintain the bit values in the memory. ROM is what it is, read only, cannot be changed or rewritten. One of the best things about ROM is that all the data or program is always located in the main memory and it will never be needed to be loaded into some form of secondary storage device. (William Stallings (2006). 148-149.) Cache Memory Cache Memory lies between main memory and CPU. The Cache memory is random access memory that the computers microprocessor can access more quickly than its RAM. When the microprocessor processes data, firstly it takes a look in the  cache  memory and if it finds the data there. (Kioskea.net. (N/A)). Cache memory is local memory that causes waiting times for information stored in the RAM (Random Access Memory). This overall effects the speed performance of the computers main memory making it slower than that of the processor, but at the same time are certain types of memory is faster, but has greatly increased costs. Cache memory is sometimes put into levels of closeness or accessibility to the microprocessor. An example of a cache level is L1 cache; this is on the same chip as the microprocessor, or L2 is usually a separate static RAM (SRAM) chip. The main RAM is usually a dynamic RAM (DRAM) chip. (SearchStorage (2000)). Cache also reduces the latency time of memory when transferring information. When the processor is in operation, L1 cache can interface with L2 controllers to transfer information Also the L2 cache interfaces with the RAM (level three caches) to allow transfers. (Kioskea.net. (N/A)). Virtual Memory Virtual memory today is now very common, as virtual memory can be located in all types computers and operating systems. Virtual memory can even be found in the smallest microprocessor to the largest supercomputer. However Virtual Memory is not real, physical memory, as it is a type of storage space so large that programmers do not need to edit the programs or documents in way shape or form. Whenever the content of a program is loaded the amount of a local memory is changed. (Peter J.Denning. (1996). p213-216.) Secondary memory Secondary is the slowest and cheapest form of memory that money can buy. It stores the data permanently unless it is erased however itt cannot be processed directly by the CPU so it must be manually copied from primary storage. Secondary Memory can include types such as magnetic disks, optical disks and sometimes magnetic tapes. WikiAnswers. (2012). Magnetic disks Magnetic disks are data that is encoded on disks. This enables the user the ability to store information on a magnetic disk as many times as you want as well as erase it. Examples are Hard Drives and Floppy Disks First is the floppy disk : One of the first types of secondary memory, floppy disks consists of a typical 5 ¼-inch floppy disk that can hold 360Kb or 1.2MB. However 3 ½-inches normally store 720Kb, 1.2MB or 1.44MB of data. Webopedia. (2012). The Hard disk is the most common secondary data as they are used in almost every computer system as they provide A LOT of data for the operating system, files, music and games that you want to store on the machine. Hard disks can store from 20MB to more than 200GB. Hard disks are also 10 to 100 times faster than floppy disks. Webopedia. (2012). Removable cartridge hard disks encased in a metal or plastic cartridge, so you can remove them just like a floppy disk. Removable cartridges are very fast, though usually not as fast as fixed hard disks. Optical disks Optical disks record data by burning microscopic holes in the surface of the disk with a laser. To read the disk, another laser beam shines on the disk and detects the holes by changes in the reflection pattern. Webopedia. (2012). CD-ROM : Most optical disks are read-only. When you purchase them, they are already filled with data. You can read the data from a CD-ROM, but you cannot modify, delete, or write new data. Webopedia. (2012). Input and Output elements The input and output devices are another important part for a computer system. Devices you use will depend on what kind of data needs to be inputted onto the machine then a output will be produced of the results. This certain output can be displayed via a computer screen, printed page, and even the audio. Input and output elements can be either for the user or network. Below are some of the main input elements for the user Keyboard A keyboard is one of the most common parts of a computer system that is used to enter text into the computer and display it to the screen. The keyboard can also be used to type commands, such as an on-screen menu using a mouse. Plus most keyboards these days are not just used for typing text, but also most now have numeric keypad, editing keys and a row of function keys along the top. UNM-LA. (2004). Mouse A mouse is by far the most common pointing input device for computers. With the working mechanics of a ball on its underside that rolls on a flat surface causes the pointer on the screen to move. The mouse allows you to reposition the pointer on the screen that shows where the next interaction with the computer can take place. The cursor can also be moved by pressing different keyboard keys. N/A. (N/A). Scanners Scanners are special devices that copy images from a hardcopy source and then copys it to the screen making a digital copy. It works by the image being converted to numerically and sent to the computer for very colour weather it is light or dark. Scanners normally scan graphic pages however they can be used to scan text pages using the OCR or Optical Character Recognition. UNM-LA. (2004). Types of Screens Cathode ray tube or CRT monitors display text and graphics are some of the most common used today. Another type of screen flat panel display usually uses an LCD (Liquid Crystal Display) screen to display output from the computer. A flat display often seen on watches and calculators. LCD screens are used on laptop computers. Some LCDs are monochrome, but colour screens are popular. Some laptop screens are nearing CRTs in resolution quality. N/A. (N/A). Trackball Trackballs are like a mouse variation that is used to play video games. The trackball is basically an upside-down mouse-you roll the ball directly with your hand. N/A. (N/A) Below are some of the main output elements for the user Printers Today the most common printer would have to be ink jet printer as they produce for hardcopy output. These printers print a on the page by spraying ink to the page. However these printers need a lot of ink. Also a common printer is laser printers. These printers produce some of the best kind of image quality. NM-LA. (2004). Speakers Computers Speakers produce output via sound also, from very basic beeps, to some of the best sounds via game sound effects or music. Basic sounds may be on the motherboard, but high quality audio are from speakers that output from a PC which can be inserted to in a expansion slot,. UNM-LA. (2004). Networking inputs and outputs Modems Modems use data communications via a dial-up or broadband connection that allows computers to exchange data. The normal telephone modem offers communication rates from 300-56000bps. For a modem, it contains two different types of translators. The first is the Modulator which transmits digital signals out down the phone line in analogue form. While the demodulator receives analogue signals from the phone line and converts them back into digital form. Rob Williams (2006) Hub A hub is one of the most basic networking devices, which can connect ma number of computers or network devices together. Unlike a network router, network hubs have no routing tables where they can send information and broadcasts. Most hubs can detect basic network problems such as collisions, however if there is multiple ports being used, the risk of security risks can increase. With hubs, they serve as central connection points for local area networks (LANs). Also there are not just box hubs, but USB ones as well. Computer Hope. (2012) Support Elements Support elements for a computer are to help the computer system. This can be classed as performance aiding such as increasing the computers performance, elements such as making the computer not suffer from a system failure due to overheating and even elements that help support the whole computer by keeping it protected or helping it work. 1. The use of support elements below are elements that transfer information between components Buses A system bus is a special set of physical connections such as cables, which are shared by multiple hardware components in order to communicate with each other The purpose of system buses is to reduce the number of pathways that are needed for communication between computers components, by carrying out all communications over a single data channel. Below is a diagram of a bus and it shows how a simple bus change can be put into place to make the flow of data simple and not complex., compared to the one on the left. . (Kioskea.net. (n/a)) schematic diagram of a bus A system bus is sorted by the amount of information that is transmitted, which is shown in bits. For example a 32-wire ribbon cable can transmit 32 bits in parallel. While the speed of the bus speed is called frequency and shown as Hertz which is the number of data packets sent or received per second. This is known as a cycle. (Kioskea.net. (n/a)) System Buses are split up into three distinct groups. They are Data, Address and Control. Data buses are normally 32 bits wide but can be increased to bits of 64 Address buses are 32 bits but will require more space soon Control bus- about 15 lines responsible for starting and stopping activities (Rob Williams( 2006)(p56-59) Fiber Cable Fiber optic cable are cables that are made of a very clear glass tube that transmits light to and from a system. Light will travel down the tube in a straight line. The light jumps off of the mirrors in the wire and is directed back into the fiber optic core to continue its journey along the cable. Michelle Miley. (1999). The next type of support elements are to put power in and take excess power out The power supply is hands down the most vital part of any computer system. The power supply converts the AC or alternating current from your home to the direct current or DC. In a PC or personal computer, the power supply is a large metal box usually found in a corner of the case with or next to the fans. The power supply is visible from the back as it contains the power-cord receptacle and the cooling fan. Gary Brown. (1998). Fans One of the main components in a compute is a fan. An example of this can be found in the CPU as there is a CPU fan. Fans are one of the most effective ways to cool down the computers processor and protect the computer from overheating and damaging the system. The CPU fan actively cools the processor by bringing in cooler air. Also cooling fans are available in a many of sizes. The CPUs cooling fans are attached directly to the top of the CPU, and works together with an aluminium heat sink fan. They cool down the CPU and reduce the amount of hot air from circulating around in the computer case. Heat sink An aluminium heat sink fan is a cooling device that draws heat away from the computers components into its large surface area to transfer cooler. This cooling device works at the same time as everything else in the computer. NMB. (2010). The next types are support elements to hold and support the components The Case The computer case can be the aluminum, steel and/or plastic shell that protects all of the computers components. Computer Cases are built to support a certain sets of hardware, in other words not all motherboards, optical drives or other hardware may be compatible with a particular computer case as the size maybe incompatible. Some computer cases come with power supplies or other essential hardware preinstalled. Motherboard A motherboard holds all the main elements of the computer or laptop together. Located on the motherboard, the CPU must be matched a slot in the motherboard so that it may fit into the motherboards sockets. The Motherboard allows the communication of electrical signals to pass through the computer. Without it the computer would be nothing more than an empty shell. Conclusion In conclusion, this report has cover the main attributes of computer hardware being the processor, memory, Input and output elements and support elements. The processor is the brain of the computer and the CPU or central processing unit is the main type of processor in front of the microprocessor and the CPU uses the fetch-execute cycle. While memory covered primary and secondary. Primary being main memory accessed by the CPU and examples are RAM, ROM, Registers and cache. Secondary is stored information, and examples are Optical and Magnetic. While Input/output elements include Keyboards, mouses, screens, printers (user) and Modems and HUBs (network). Also support elements are system buses, cables, power supplies, cases and motherboards that help the performance of the machine.

Friday, October 25, 2019

Calpine and Cisco Debate Over Coyote Valley :: Metcalf Energy Center Pollution Essays

Calpine and Cisco debate over Coyote Valley Throughout the years the technology industry has been growing with incredible speed expanding all over California. San Jose is known as the capital of Silicon Valley where major technology companies and start-ups call home. With fast spreading companies it is necessary to have enough power in San Jose to supply the increase in energy demand. Recently there was a plan proposed to the City of San Jose by Calpine Corporation to build a power plant in Coyote Valley. Nearby residents and several other organizations, including Mayor Ron Gonzales, are against this plan due to environmental hazards and safety precautions with schools and residents. It is possible the power plant can bring to San Jose several positive outcomes that will help develop the city into the center of the technology world. Although the power plant sounds like it would benefit San Jose by creating jobs and providing energy, the Metcalf Energy Center can cause severe consequences to the city in the future. The power plant is expected to bring more jobs to San Jose during the construction phase. â€Å"This project also promises to save customers in California up to $1.8 billion dollars by 2010† (Levey 1) . There certainly is a very high demand in power with the growing technology industry. The state of California fears that if the power plant is not built there will be a shortage of power in the state. â€Å"If the San Jose City Council decides not to rezone land for the project, the state could take the unprecedented step of overriding a community's opposition to a new power plant. California has faced persistent power shortages this year. And state analysts already have recommended approving the project† (Levey 1) . If Calpine get approval to begin constructing the power plant, San Jose will have several problems in the future. Ethical Issues Is it ethical to build a power plant that will pollute the air and possibly hurt the health of nearby residents? If the power plant is built in San Jose there are people who say that the environment would rapidly degrade the South Bay. City officials are questioning whether the 600-megawatt power plant will give off small amounts of pollutants. Calpine and Cisco Debate Over Coyote Valley :: Metcalf Energy Center Pollution Essays Calpine and Cisco debate over Coyote Valley Throughout the years the technology industry has been growing with incredible speed expanding all over California. San Jose is known as the capital of Silicon Valley where major technology companies and start-ups call home. With fast spreading companies it is necessary to have enough power in San Jose to supply the increase in energy demand. Recently there was a plan proposed to the City of San Jose by Calpine Corporation to build a power plant in Coyote Valley. Nearby residents and several other organizations, including Mayor Ron Gonzales, are against this plan due to environmental hazards and safety precautions with schools and residents. It is possible the power plant can bring to San Jose several positive outcomes that will help develop the city into the center of the technology world. Although the power plant sounds like it would benefit San Jose by creating jobs and providing energy, the Metcalf Energy Center can cause severe consequences to the city in the future. The power plant is expected to bring more jobs to San Jose during the construction phase. â€Å"This project also promises to save customers in California up to $1.8 billion dollars by 2010† (Levey 1) . There certainly is a very high demand in power with the growing technology industry. The state of California fears that if the power plant is not built there will be a shortage of power in the state. â€Å"If the San Jose City Council decides not to rezone land for the project, the state could take the unprecedented step of overriding a community's opposition to a new power plant. California has faced persistent power shortages this year. And state analysts already have recommended approving the project† (Levey 1) . If Calpine get approval to begin constructing the power plant, San Jose will have several problems in the future. Ethical Issues Is it ethical to build a power plant that will pollute the air and possibly hurt the health of nearby residents? If the power plant is built in San Jose there are people who say that the environment would rapidly degrade the South Bay. City officials are questioning whether the 600-megawatt power plant will give off small amounts of pollutants.

Thursday, October 24, 2019

Ethical Considerations in Motivated Learning

When students have goals to achieve, the motivation to do more or better goes into overdrive. Goal Theory and Ethical Implications The goal theory of motivation is explained by Such nun (2012) as, â€Å"Goal theory postulates that important relations exist among goals, expectations, attributions, conceptions of ability, motivational orientations, social and self comparisons, and achievement behaviors† (Andersen & Welters, Blundered, Elliot, Maier & Shush, Pinprick, Pinprick & Shush, Whiner, as cited in Chunk 201 2, p. 374). Goals, values, and expectations are roles of motivation within earning as described social cognitive theorists.Goals are set and progress is evaluated, when progress is made toward those goals, an individual's self- efficacy, self-motivation and self-achievement is validated. Goals provide the individual marker points to assess ones progress to mastering the desired outcome or knowledge retention on a particular subject. â€Å"Motivation is goal- directed behavior instigated and sustained by people's expectations concerning the anticipated outcomes of their actions and their self-efficacy for performing those actions† (Bandeau, as cited in Chunk, 201 2, p. 372).The ales of a learner are a key part of this motivation. If they find what they are learning self-satisfying and important they are more likely to be motivated to learn and achieve the goals that have been established. When talking about goals in relation to goal theories it is evident that certain ethical standards may be impacted due to the need of achievement to the final desired outcome. Through achieving goals as an example in social cognitive theory one may have to violate the individual autonomy or safety within the subjects' community.Nagy (201 1) states, There are occasions when psychologists sight have to initiate safeguards to help ensure the autonomy and safety of individuals or communities. † The ethical principles of modern psychologists are to evalua te what ethical standards may be violated in the pursuit of the us abject achieving set goals either through their therapeutic processes or learning processes. Some areas of concern are reflected in individualized role differences, cultural, individual, and vulnerabilities in where access to legal protections and violation of one's personal rights may be threatened.The psychologist is to ensure that other human attributes of the members' immediate society shall not be violated in the pursuit of the subjects goals and should be clearly explained in a therapeutic setting. Achievement Motivation Theory and Ethical Implications The achievement motivation theory is based on the belief that all individuals have needs and go through an unconscious process to attempt to meet these needs (Rayon, 1969). According to Chunk, ‘The study of achievement motivation is central to education and learning' (p. 58). In the achievement motivation theory, individuals strive to be become and remain c ompetent in heir participation in forceful activities. Individuals strive achieve their goals (Whiner, 1975). In learning individuals might strive to be rewarded with good grades for their hard work. The achievement of the grade is what motivates the individual to complete the assignment. The achievement motivation theory has been linked to personality through the desire individuals have to satisfy needs (Chunk, 2012).Contemporary models of achievement motivation theory emphasized the contribution of success expectancy, and an individual's perceived value of the task to be completed (2012). Chunk (2012) tastes, â€Å"Students' initial motivational beliefs center on goals, self-concepts of abilities, and perceptions of task demands† (p. 362). In the self-worth theory of achievement motivation individuals base their achievement in their perception of self-worth based on results of emotional conflicts between hope for success and the fear of failure (Chunk, 2012).An individual i s driven by their anticipation of success and their anxiety of failing. People are driven by their fear of failure and being perceived by others as incompetent and unworthy. Ethical disadvantages to the achievement motivation theory include the low reliability and correlation with other achievement measurements (Chunk, 2012). An individual's perception on the way others perceive them can also be a pitfall in the utilization Of the achievement motivational theory.The cultural background, gender role stereotypes and other ethical issues could alter an individual's perception of their ability to achieve the goals in which they have set. Social Cognitive Theory and Ethical Implications Social Cognitive Theory, developed by Albert Bandeau emphasizes learning based off of social surroundings. As one grows from childhood to adolescence and later in adulthood, there is a heavy influence from family and friends, as well as career setting that mold people into who there are (Chunk, 2010).Band eau stated, â€Å"Learning would be exceedingly laborious, not to mention hazardous if people had to rely solely on the effects of their own actions to inform them what to do. † (Bandeau, 1971). This explains that one develops skills form observation of others. Bandeau goes on to say, â€Å"Fortunately, most human behavior is learned observationally through modeling from observing others one forms an idea of new behaviors are reformed, and on later occasions this coded information serves as a guide for action. In other words, learning comes from a live model with full demonstration of behavior that is exhibited by others. There are many different ethical dilemmas that can surface in psychological practices with utilization of the social cognitive motivation theory. Kismet (1991) suggested that, â€Å"Studies pertaining to ethical decision making and attitude toward social and behavioral research suggest that certain extra scientific characteristics of researchers may be ass ociated with different stances on ethical issues or may influence the kinds of ethical decisions drawn. Based on the psychologists attitude toward the research could influence the behavior of the participants; engaging in behavior that is deemed unethical. There is always an ethical concern when dealing with biased opinion of psychologists, which can then turned into manipulation to achieve specific results Attribution Theory of Motivation and Ethical Implications In psychology the study of motivation is used to help understand and explain any type of observed change behavior that has occurred in a person.Motivation is usually a valued form of performance since effects that occur from change are typically only temporary (Male, 2004). When a person become slightly motivated to accomplish or perform a task due to a motivation change, this person could latter have very little interest in this task due to another change in motivation. Since motivation changes a channel over and over it becomes difficult to measure and use in psychology (Male, 2004). Primary and basic motives are looked at as hunger, need for drink, sexual, to avoided aggression, pain, and fear.This primary drive of motivation or individuals comes from the basic needs and survival. Secondary individuals typically will look for power, achievement and other specialized motivations. Attribution theory in motivation has been researched in a variety of ways (Male, 2004). Research methods include of electrical stimulation and chemical stimulation in the human brain. This recorded the electric brain wave activity though the use of an electroencephalograph. Lesion techniques are often used to study the portion of the brain that has been destroyed and the subsequent changes have been changed.Attempts to analyze people at psychological level try to understand why people behave in certain ways. Motivation is people could contribute to presence of other in their social world. It is difficult for psychologist t o fully measure what motivates individuals to accomplish secondary motives in their lives making it a high pitfall for psychology use (Male, 2004). Many individuals gain motivation for personal needs and draw motivation from many different areas of life making it hard to measure and test. Conclusion In conclusion, motivated learning has various aspects tied into it.Goals are important for those who are interested in achieving a high level of success. While desiring to reach these goals, students begin to understand that there are steps or tasks to partake in for them to acquire achievement. When students begin to believe how others perceive them, it can cause their motivation to take a left turn. Those who deal with social issues often deal with the influence of the people around them. The motivation to do more has to come from our personal experiences. It can be linked to growing up poor, not have the right people around to guide you, and etc.

Tuesday, October 22, 2019

Public police system Essay

Science is derived from the Latin word scientia, which denotes, â€Å"knowledge† and it refers to any methodical knowledge-base or standpoint practice which is competent in ensuing in a forecast or predictable result. In its more ordinary limited sense, science refers to a method of obtaining facts based on a scientific technique. On the other hand, Art is the product or procedure of intentionally arranging components in a manner that appeals to the feelings or senses. It encompasses a variety of human activities, formations, as well as forms of expression, comprising literature and music. The denotation of art is examined within a branch of philosophy identified as aesthetics. The public police system is said to favor the science over the art due to a number of reasons: (Poulin, K. C & Nemeth, C, 2005) To start with, the public police system favors the science over the art because of the connection between art and the police. Art is inexorably understood as culture, which is a reflection of Trocki’s syntagm â€Å"when I hear the word culture, I reach for my gun. † The connection between the police and art explicitly discloses that the discourse of art is at all times understood as a sort of a joke in relation to the policeman. Here, the discourse of art is simply the one that relates to as well as mirrors the structure of power, represented and instituted by the policeman himself. (Poulin, K. C & Nemeth, C, 2005, p. 278) Secondly, the police favors the science given that science and technology play a crucial function in contemporary policing. For instance, police make use of forensic science to determine crime more effectively, forgive those who are not guilty as well as convict lawbreakers. Hi-tech information as well as communication systems makes it possible for officers to spent extra time connect with citizens and less moments engrossed with paperwork. In addition, the police favor the science because technology and cutting-edge science are employed in activities of terrorism and organized crime given that the police have to stay one step in front. (Poulin, K. C & Nemeth, C, 2005) Finally, the police use science and technology to fight crime by relying on a progressively more wide variety of sophisticated communications and information technology, other technologies as well as forensic science to serve the community. Some of the important technological and scientific tools that constitute police system’s backbone include: the Police National Computer (PNC), the national fingerprint and DNA database, the Road traffic law enforcement technology as well as the Science and technology in the police force: the future. (Poulin, K. C & Nemeth, C, 2005) Poulin, K. C & Nemeth, Charles P. (2005) Private Security and Public Safety: A Community-Based Approach, Upper Saddle River, NJ: Prentice-Hall Inc†¦ ISBN 0131123742, 9780131123748

Monday, October 21, 2019

Free Essays on Krispy Kreme Case

SWOT Analysis Strengths: Product cost Strong business history Long standing company ethics Strong customer base Nationally known brand of donuts Donut-making â€Å"theatres† Strong Community relationships â€Å"One-of-a-kind taste† Weaknesses: Limited menu items Markets are leaning towards healthier food products Heavy competition Lack of advertising Opportunities: Expansion into premium coffee lines Diversification of product offerings Co-Branding opportunities Expansion into a more global marketplace Web based sales of Krispy Kreme merchandise Threats: Stiff competition from several similar companies Healthier product alternatives available Krispy Kreme Doughnuts, Inc. is a specialty retailer of doughnuts. The company's business owns and franchises Krispy Kreme doughnut stores, where it makes and sells over 20 varieties of doughnuts, including its signature Hot Original Glazed and nine other varieties. Each of its stores is a doughnut factory with the capacity to produce from 4,000 dozen to over 10,000 dozen doughnuts daily. The Company also sells in its stores coffee, other beverages, other bakery items and collectible memorabilia such as tee shirts, sweatshirts and hats. There are currently 368 Krispy Kreme stores in 44 states and 4 countries and the company also accomplishes off-premises sales through its direct store delivery system. Krispy Kreme also has plans to expand on its international presence. Currently they are looking to open up markets in Europe, Asia, and Mexico. Krispy Kreme's strong marketing focus is their charitable efforts through giveaways and wholesale charges to charities. By using this particular approach they continue to emphasize their small town, southern hospitality, commitment to community and brand value. With this strong ethical platform Krispy Kreme should prove to be a long standing me... Free Essays on Krispy Kreme Case Free Essays on Krispy Kreme Case SWOT Analysis Strengths: Product cost Strong business history Long standing company ethics Strong customer base Nationally known brand of donuts Donut-making â€Å"theatres† Strong Community relationships â€Å"One-of-a-kind taste† Weaknesses: Limited menu items Markets are leaning towards healthier food products Heavy competition Lack of advertising Opportunities: Expansion into premium coffee lines Diversification of product offerings Co-Branding opportunities Expansion into a more global marketplace Web based sales of Krispy Kreme merchandise Threats: Stiff competition from several similar companies Healthier product alternatives available Krispy Kreme Doughnuts, Inc. is a specialty retailer of doughnuts. The company's business owns and franchises Krispy Kreme doughnut stores, where it makes and sells over 20 varieties of doughnuts, including its signature Hot Original Glazed and nine other varieties. Each of its stores is a doughnut factory with the capacity to produce from 4,000 dozen to over 10,000 dozen doughnuts daily. The Company also sells in its stores coffee, other beverages, other bakery items and collectible memorabilia such as tee shirts, sweatshirts and hats. There are currently 368 Krispy Kreme stores in 44 states and 4 countries and the company also accomplishes off-premises sales through its direct store delivery system. Krispy Kreme also has plans to expand on its international presence. Currently they are looking to open up markets in Europe, Asia, and Mexico. Krispy Kreme's strong marketing focus is their charitable efforts through giveaways and wholesale charges to charities. By using this particular approach they continue to emphasize their small town, southern hospitality, commitment to community and brand value. With this strong ethical platform Krispy Kreme should prove to be a long standing me...

Sunday, October 20, 2019

Critical Thinking 3 Essay Example

Critical Thinking 3 Essay Example Critical Thinking 3 Essay Critical Thinking 3 Essay Essay Topic: Critical Thinking Critical Thinking Questions: Week 3 Name: Course: Date: Critical Thinking Questions: Week 3 Chapter 7 – Designing for Problem Solving1. Describe a Policy Problem that you might assign a learner, using an actual issue that’s being debated in today’s political news. How would you solve the problem? The issue of abortion has been among the most controversial issues around the world given the presence of both opposing and supporting sides of the policy. The solution to this problem would be achieved through the evaluation of the positive and negative attributes of either the opposing or the supporting sides. This is further dependent on individual opinions and beliefs towards the issue. Hence, individuals assume positions based on their beliefs and opinions. The benefits and demerits of a policy determine its acceptance or denial by the students (Reiser, Dempsey, 2002).2. Why does the author state that problem solving is the most natural, complex, and meaningful kind of learning/thinking activity? Do you agree or disagree? Explain I agree with the author’s view that â€Å"problem solving is the most natural, complex, and meaningful kind of learning/thinking activity† because of the ability of learners to use such platforms to develop their rational capacities (Cavanaugh, 2004). This is because ability to make decisions and solve problems results in growth in ability to make similar as well as complex decisions and solutions for such levels of problems. Humans possess cognitive abilities which they use in solving problems. Rationality is based on use of experiences as a means of developing solutions related to such a situation. Hence, a solution to a problem is usually developed based on the use of experiences and the skills for development of solutions gained through problem solving (Newby, 2006).Chapter 8 – Instructional Theory and Technology for a Postindustrial World1.What other characteristics of the learning process and learning environment do can you envision for a postindustrial par adigm of instruction? What are some of the barriers to making this type of instruction a reality? The post-industrial educational system is as a result of the changes or shift from an industrial society to a postindustrial society. This has resulted in new educational systems such as distance learning, home-schooling volunteering and internships. It is an indication of a shift from necessity of physical attendance into institutions (Reiser, Dempsey, 2002). The barriers to the full utilization of the post industrial system are the reluctance to change from the traditional industrial system. This is because the industrial system is considered as providing employment to a sizeable number of individuals both directly and indirectly (Cavanaugh, 2004).2. What are some ways that technology can make post-industrial instruction easier on teachers? Include examples not given in the chapter. In what ways might it make it more difficult? Technology could provide teachers with the ability to make specialized teaching to individual students such as through distance learning. It could also provide teachers and learners with an avenue for interactions on a professional level in issues related to coursework or educational activities. This provides teachers with the ability to cultivate the interests of the students towards educational activities. Hence, this has potency to improve productivity from an educational perspective (Newby, 2006). Technology could also make this more difficult. In a case where training is not done correctly, technology is rendered useless as its use becomes difficult.Chapter 9 – Motivation, Volition, and Performance 1. Compare and contrast motivation with volition. What are some ways that they can interact to support or diminish one another? Motivation is the enthusiasm or drive towards the achievement of set goals and objectives or aspirations, whereas volition is termed as the individual will towards achievement of set goals and objectives. Volition is also termed as a process which transitions form actual intention to behavior towards the achievement of specific goals and objectives. On the other hand, motivation is termed as a process, which enables the development of behavioral intentions towards achievement certain goals and objectives (Reiser, Dempsey, 2002). 2. Applying volition strategies effectively can also be related to â€Å"good work habits†. What are some strategies that one might apply to strengthen their volition? How can these strategies be promoted through an online course? Decision making process is delicate towards the achievement of certain goals and objectives. Volition could be strengthened through the establishment of precise goals and objectives for achievement (Newby, 2006). Motivation could be used to strengthen volition for achievement of set our goals and objectives. In addition, another strategy includes the use of timelines for achievement of goals and objectives to ensure that an individual is able to strengthen his or her volition.

Saturday, October 19, 2019

Are Leaders Born Or Made How Do We Identify Leaders Do We Need Leaders Essay

Are Leaders Born Or Made How Do We Identify Leaders Do We Need Leaders In This Current Economic Climate - Essay Example This point has been explained in the present discourse by comparing two different organisations based on personal work experience. In the process, various aspects of leader and team behaviour, organisational systems, structure and management concepts have been used to explain leadership effectiveness and use of management concepts. This discourse presents an argument on leadership effectiveness in relation with leadership theories, management concepts and organisational culture. Leadership has been defined from different perspectives. Leadership at workplace has been the focus of many contemporary organisations. Contrary to the conventional management concepts and philosophy, the present-day organisations believe that leadership is essential for organisational sustenance. Daft defines leadership as the influence relationship among leaders and followers who intend real change and outcomes that reflect their shared purposes (2007; p.4). In an organisational context, the essential eleme nts in leadership include the leader, influence, intention, personal responsibility and integrity, change, shared purpose, followers. These elements, although essential in any leadership concept, are specifically significant in an organisational context because this context brings together leaders by virtue of their position and people with a purpose. Such leadership is assigned leadership (Northouse, 2009). Another form of leadership is emergent leadership, which refers to leadership acquired by one’s actions, and ability to earn followers; this leadership is more commonly found in political groups, and lesser in organisational setups. Leadership has been defined in numerous ways by different people, and from different perspectives. One of the broad definitions proposed by Yuki is that leadership is the process of influencing others to understand and agree about what needs to be done and how to do it, and the process of facilitating individual and collective efforts to accom plish shared objectives (, p.26). According to Bryman, â€Å"leadership is the creation of a vision about a desired future state which seeks to enmesh all members of an organisation in its net† (1986, p.6). Jackson and Parry (2007) highlight three aspects of leadership, which provide sufficient reasons to explore leadership. These aspects include the contemplative notion whether leaders were born or made; secondly, what are the characteristics of an effective leader; thirdly, what is the difference between leadership and management. These three aspects provide significant insight into the concept of leadership and management. Theoretical construct on the concept of leadership is vast and delves deep into aspects such as individuals’ personality, style, background etc (Contingency theories) along with situations (Situational leadership), culture, perceived values, vision (Visionary and transformational leadership) and even characteristics of followers. Various leadershi p characteristics have been proposed by many researchers, which gave rise to the trait theories of leadership. Some of the traits explained in these theories include intelligence, insight, responsibility, confidence, cognition, self-motivated, emotional intelligence etc (Northouse, 2007). Fiedler’s contingency theory of leadership emphasizes that leader’s effectiveness or the group’s performance is determined by leadership style and situational need. Leadership

Friday, October 18, 2019

LEGAL ASPECTS OF HOSPITALITY Research Paper Example | Topics and Well Written Essays - 2000 words

LEGAL ASPECTS OF HOSPITALITY - Research Paper Example As a means of drawing inference upon these specific sectors of interest, this particular student will analyze these factors based upon the determinant of seeking to become a hotel manager. Furthermore, when choosing this particular topic, it came to the attention of the researcher that the specific subject matter has a direct correlation to both the legal matters as well as the applicability and practicality of choosing this specific field as a potential future career path. The reasons for this are as follows: 1) hotel management provides the most direct link between the client, the employee, and providing a high quality of service/ensuring future profitability, 2) hotel management requires that the hotel manager should be perennially cognizant of the means by which legal issues impact upon the work that they engage in, 3) hotel management is a promising and rapidly growing sector that represents a high level of opportunity for the graduate that has a background in hospitality or tou rism related sectors. The Responsibilities of the Hotel Manager Given the role of a hotel manager or the Deputy or Operations Manager, in absence of the general manager, he is to run the hotel on a daily basis. The hotel manager is tasked to give solutions to the emergencies and problem the hotel faces each and every day. The hotel manager also take charge of the different departments of the hotel. But most of all, the operations manager reports to the general manager who will give the tasks and responsibilities to him. The general manager asks for jobs to be done and sometimes does not necessarily ask for any rationales as long as he gets what he wanted. Thus it can be said that being a hotel manager is one of the most challenging job a hotel industry major can ever pursue as a career having to ensure the job gets done under his management an he gives smiles to his boss at the end of the day. What should be done? What are the jobs to be done by the management team as well as the la bor force? As enumerated by ACCOR (n.d.), the hotel industry "has a key role to play in sustainable development. Indeed, every hotel faces at its level the main current environmental issues: building heating, water consumption, household (guest) and industrial (laundry, restaurant) waste management, site preservation†¦ A hotel is thus a real proving ground for exploring new technologies and new lifestyles." These responsibilities are not as easy as they seem. The ground work for everything to keep together in a daily basis while having different sets of guests, season, environmental and financial status as well as the unexpected calamities may hinder keeping the employees do their responsibilities. The hotel operation is 24/7 and does not have any break time or closing hours like any other business. From maintaining the cleanliness, serving the requests of the guests and keeping all the facilities up and running smoothly require enough knowledge and dedication from the staff. A ccording to the interview done by Harvey Chipkin (2013) to Ted Mandigo, a veteran

Police strategy assessment Assignment Example | Topics and Well Written Essays - 2000 words

Police strategy assessment - Assignment Example In addition, the duty of the law enforcement agencies to reduce the fear of crime among members of the public makes their work rather tricky. To execute their duties effectively and achieve their objectives, police departments have to establish productive operational strategies using all the available resources such as money, personnel, equipment, and weapons (Allen, 2005). Moreover, there is need for the law enforcers to incorporate the pubic/community into their operational strategies as researches have shown that community involvement in crime-fighting has resulted in tremendous reduction in citizen fear/sense of insecurity and crime prevalence in many metropolitans. The nature and level of public involvement however depends on the nature/type and the prevalence of crime targeted. Among the crimes for which operational police strategies are established, implemented, evaluated, and reformed include robbery, rape, burglary, arson, robbery with violence, and theft among other crimes (Allen, 2005). This paper explores the use of the police operational strategy of community policing in fighting the crime of burglary in metropolitan neighborhoods. The Definition of Burglary Police departments in major metropolitans in the world are faced with myriad disorder problems or crimes. To prevent, control, manage, and predict the occurrence of these crimes and disorders, police departments establish and implement various policing strategies. Among the most commonplace crimes in many metropolitans is burglary. Whenever burglary is mentioned, among the terms that come to mind are forceful, breaking, and entering (Dressler, 1995). According to common law burglary would simply be defined as the act of forcefully entering another person’s property with intent to commit a crime. Therefore the most important inclusion in the definition of burglary is forceful entry. Nevertheless, detailed definitions of the crime of burglary vary from one jurisdiction or state to another. However, certain aspects come out as distinct for burglary, differentiating it from other crimes such as simple theft. For instance, burglary is always accompanied by forceful entering, breaking, and intent to commit a felony. There are numerous types of burglary, depending on the severity and the manner in which the act is committed. Nighttime burglary, the more serious type of burglary, refers to a breaking and entering committed at night. Some law enforcement agencies or states also define burglary as an inchoate/undeveloped crime, implying that the mere act of intruding into another person’s house is harmful in itself (Dressler, 1995). However, it regarded as an incomplete offense as only the security and the safety of the house or premise broken into is compromised. Police departments have therefore established and implemented a number of policies by which the prevalence of the crime of burglary could be predicted, prevented, controlled, and managed effectively. The eff ectiveness of these policies however varies, depending on the precision and the thoroughness of their implementation. Police Operational Police Strategies To enforce the laws targeting burglaries, there are numerous policing operational strategies that could be applied. While some of these strategies are designed to prevent crimes from occurring, other are tailored to handle routine crimes or emergencies. Similarly, while some of these strategies are short-term, others are more complex and target long-term

Business Environment In South Africa Research Paper

Business Environment In South Africa - Research Paper Example In addition, the country has a sophisticated business environment that enables business to easily export and import goods. This is also advantageous to the global businesses that enter the marker because it increases their global competitiveness. Most global companies prefer South Africa because its manufacturing base for product exports is also not expensive. This is because it is easier to access other markets such as the Sub-Saharan Africa, Australia, and South American markets from the country (Chalmers & Godfrey 273). In addition, businesses that enter the market have high opportunities to grow. This is because of the faster economic growth in the country. Furthermore, it is easier to enter the marker because of the political stability that has contributed to the creation of the friendly business environment. Political stability has enabled most of the global business to operate effectively because it makes the country integrated into the global market system. It is also easier to do business in the county because of the cultural diversity. Most global businesses find it easier to team up with the local citizens because of the many different cultures. For instance, the country has about 11 common languages of which English is the most used. This implies that there are no misunderstandings due to communication difficulties. Entering the market is also easier because corruption is not very high in the country. Researches show that among the 163 countries, South Africa is rated number 54 for its tran sparency. (Chalmers & Godfrey 273). The country’s company law regime The South African government has implemented various business laws that aim at promoting the competitiveness of the businesses that enter its market. The English law has influenced the favorable legal environment in the country. It easier for global firms to perform effectively since the businesses legal practices relating to transactions and agreement are applicable internationally. This is because the laws have been aligned with the global norms and conventions. For instance, the country’s constitution is excellent and promotes the autonomy of the judiciary. This implies that most businesses operate under the free economy framework. In addition, the legal system is opened to all the businesspersons including the foreigners on equal legal term. The commercial law also ensures that the businesspersons’ rights are protected by the independent courts. The Johannesburg Stock Exchange (JSE) is among the lead ing stock exchanges globally due to the country’s favorable commercial legal system. The JSE limited helps in ensuring that all companies in the market increase their capital in a comfortable and reasonably regulated market environment. The JSE also helps in increasing the quality of its companies by ensuring that all the companies in the stock market achieve higher standards compared to other world- class exchanges. This ensures that shareholders enjoy competent and secure market (South Africa Info.1). State-owned enterprises The state-owned enterprises (SOE) are the government owned corporations or entities in South Africa that perform certain functions as required by the law. They play a great role in creating a comfortable business environment in the country. For instance, they improve the country’s infrastructure and other services industries such as transportation and water that help in

Thursday, October 17, 2019

The Aim of Business Policy and Strategy Essay Example | Topics and Well Written Essays - 500 words - 1

The Aim of Business Policy and Strategy - Essay Example For a company to offer quality services, it ought to lay down a framework that is going to make the company more proactive in decisions making and ensure good bright future of the firm. The company strategic vision is to offer exemplary high-quality transport services at affordable prices. For an enterprise to be functional, it ought to develop ways that are going to ensure that it is guaranteed to win the competition in services delivery. Enterprises have to develop mechanisms that are going to ensure it responds to dynamic eternal changes amicably for it to pursue its mission. The corporate strategy of a company ought to spell out the goals that are major all its priorities, the plan of events and the course of action throughout a certain period. Many transport companies tend to focus on offering only one service; transport of goods and services. A company corporate strategy ought to be based on the design, by majorly focusing on the young and beginners for services. Therefore, the growth strategy of a company should focus on diversifying its services to incorporate postally and care hire services intended to meet the diverse needs of people. The major hitches that any enterprise business will tend to face throughout its operations are competition, resources and the necessary capabilities. The corporate world is one of the most volatile areas of the economy that are had to operate without skill and, therefore, requires deliberate courses of actions. However, such challenges can be overcome by developing viable strategic plans that are going to spell out al l the courses of action to overcome them.

Scope and System Dynamic Modeling Essay Example | Topics and Well Written Essays - 2750 words

Scope and System Dynamic Modeling - Essay Example From this discussion it is clear that the model will be unable to tell the whole story behind the topic. Therefore, only impacts of interest are selected and included in the model. With the green house effect rising to alarming levels over the past decade, it seems worhtwhile to investigate the relationship between CO2 emission and global manufacturing in the current model. In addition, monetary relations between the multinationals and the host country which include taxation, contribution to Gross Domestic Product from global manufacturing and gross profit of the multinationals are likewise include in the model. Change in living standard and creation of employment from global manufacturing are also integrated into the model for better understanding between these global multinationals and the host country. This paper outlines that the Vensim software is used to simulate a system dynamics model of the situation being studied. Running "what if" simulations to test certain policies on such a model can greatly aid in understanding how the system changes over time. In the brainstorming phase, a ‘perfect’ model is the primary goal. Such a ‘prefect’ model will require the inclusion of every possible component with respect to the topic of interest. As a prerequisite, a causal loop diagram must be drafted before constructing the system dynamic model. A causal loop diagram is a diagram that aids in visualizing how interrelated variables affect one another. The diagram consists of a set of nodes representing the variables connected together. The relationships between these variables, represented by arrows, can be labelled as either positive or negative. The following is the first draft of the causal loop diagram.

Wednesday, October 16, 2019

Business Environment In South Africa Research Paper

Business Environment In South Africa - Research Paper Example In addition, the country has a sophisticated business environment that enables business to easily export and import goods. This is also advantageous to the global businesses that enter the marker because it increases their global competitiveness. Most global companies prefer South Africa because its manufacturing base for product exports is also not expensive. This is because it is easier to access other markets such as the Sub-Saharan Africa, Australia, and South American markets from the country (Chalmers & Godfrey 273). In addition, businesses that enter the market have high opportunities to grow. This is because of the faster economic growth in the country. Furthermore, it is easier to enter the marker because of the political stability that has contributed to the creation of the friendly business environment. Political stability has enabled most of the global business to operate effectively because it makes the country integrated into the global market system. It is also easier to do business in the county because of the cultural diversity. Most global businesses find it easier to team up with the local citizens because of the many different cultures. For instance, the country has about 11 common languages of which English is the most used. This implies that there are no misunderstandings due to communication difficulties. Entering the market is also easier because corruption is not very high in the country. Researches show that among the 163 countries, South Africa is rated number 54 for its tran sparency. (Chalmers & Godfrey 273). The country’s company law regime The South African government has implemented various business laws that aim at promoting the competitiveness of the businesses that enter its market. The English law has influenced the favorable legal environment in the country. It easier for global firms to perform effectively since the businesses legal practices relating to transactions and agreement are applicable internationally. This is because the laws have been aligned with the global norms and conventions. For instance, the country’s constitution is excellent and promotes the autonomy of the judiciary. This implies that most businesses operate under the free economy framework. In addition, the legal system is opened to all the businesspersons including the foreigners on equal legal term. The commercial law also ensures that the businesspersons’ rights are protected by the independent courts. The Johannesburg Stock Exchange (JSE) is among the lead ing stock exchanges globally due to the country’s favorable commercial legal system. The JSE limited helps in ensuring that all companies in the market increase their capital in a comfortable and reasonably regulated market environment. The JSE also helps in increasing the quality of its companies by ensuring that all the companies in the stock market achieve higher standards compared to other world- class exchanges. This ensures that shareholders enjoy competent and secure market (South Africa Info.1). State-owned enterprises The state-owned enterprises (SOE) are the government owned corporations or entities in South Africa that perform certain functions as required by the law. They play a great role in creating a comfortable business environment in the country. For instance, they improve the country’s infrastructure and other services industries such as transportation and water that help in

Tuesday, October 15, 2019

Scope and System Dynamic Modeling Essay Example | Topics and Well Written Essays - 2750 words

Scope and System Dynamic Modeling - Essay Example From this discussion it is clear that the model will be unable to tell the whole story behind the topic. Therefore, only impacts of interest are selected and included in the model. With the green house effect rising to alarming levels over the past decade, it seems worhtwhile to investigate the relationship between CO2 emission and global manufacturing in the current model. In addition, monetary relations between the multinationals and the host country which include taxation, contribution to Gross Domestic Product from global manufacturing and gross profit of the multinationals are likewise include in the model. Change in living standard and creation of employment from global manufacturing are also integrated into the model for better understanding between these global multinationals and the host country. This paper outlines that the Vensim software is used to simulate a system dynamics model of the situation being studied. Running "what if" simulations to test certain policies on such a model can greatly aid in understanding how the system changes over time. In the brainstorming phase, a ‘perfect’ model is the primary goal. Such a ‘prefect’ model will require the inclusion of every possible component with respect to the topic of interest. As a prerequisite, a causal loop diagram must be drafted before constructing the system dynamic model. A causal loop diagram is a diagram that aids in visualizing how interrelated variables affect one another. The diagram consists of a set of nodes representing the variables connected together. The relationships between these variables, represented by arrows, can be labelled as either positive or negative. The following is the first draft of the causal loop diagram.

Ace Hardware Store Entering Bahrain Market Essay Example for Free

Ace Hardware Store Entering Bahrain Market Essay We have endeavoured to emphasize on the suggested strategies which will allow Ace Hardware to consider venturing into the Bahraini market. Therefore with the information provided and composed, we have the opportunity to examine comments of Ace Hardware which allows us to highlight key issues faced. Organisations need to recognize and meet demands of the exterior factors which include threats and opportunities to uphold their competitiveness in the market. Henceforth, the intention of this report is to essentially investigate and assess the outlook of Ace Hardware Corporation in relation to expansion and growth in the Bahraini market. . 0 Introduction Bahrain is one of the unique countries in the Middle East. It alone has a stable economic climate and welcomes foreign investment with a highly business friendly culture thus making it an efficient country to start business. Introducing Ace Hardware to the Bahraini market because of a numerous aspects such as retaining 100% foreign ownership and low taxation, provides a free, open and transparent environment that fosters growth, legal system protects companies’ righ ts, while their free market environment allows businesses to thrive. . 0 Industry Business Description The ACE Hardware Corporation is a well-known wholesaler of hardware and home-related products; the organisation offerings include safety equipment, plumbing products, outdoor living products, pet supplies, door handles, electrical tools, lawn and garden accessories, furniture, home appliances and many more. ACE has been affianced in the wholesale hardware business and has offered dealerships to retailers of hardware and associated items since the company in Illinois commenced incorporating in 1927. Today, ACE is the largest retailer-owned obliging and vibrant leader in the convenience division of the hardware business in terms of wholesale and retail sales and strength of the brand. 3. 0 Company description According to (Irwin, 2012), Ace Hardware ranks highest in satisfying home improvement retail store customers for a sixth consecutive year according to the J. D. Power of Associates Home improvement Retail satisfaction Study of 2012. This measured customer satisfaction with home improvement retail stores, based on the performance of five factors: merchandise, price, sales staff, sales amp; promotions and store facility. The organisation emphasizes on service and modern retailing techniques and has helped locally owned operated ACE retail stores confront intense competition from Home Depot and Lowe’s. In addition, it provides numerous value-added services such as marketing, advertising, merchandising and design services to its retail members. ACE’s 4,600 stores in all 50 states and more than 60 countries generate annual retail sales of approximately $12 billion (ACE Hardware Corporation, 2012). 3. 1 Type of business Retail Sales ACE’s 4,600 stores in all 50 states and more than 60 countries generate annual retail sales of approximately $12 billion (Ace Hardware Corporation, 2012). Dubai, Shanghai, Canada etc. Applying a Teradata warehouse permitted 2,500 Ace Hardware retail stores to transmit daily a point of sale (POS) transaction detail. According to (Murphy, 2007), â€Å"Teradata is the world leader in data warehousing solutions with a proven track record in retail, as we discovered when we sought vendor references. That experience, including customer relationship management, category management and business intelligence, made Teradata the right choice for Ace Hardware. † Basically, Ace relies on active warehouse data from Teradata, which has delivered a single repository for retail and wholesale sales, purchasing, customer information, financial data and inventory to essentially support large varied workloads. Wholesale In addition to its 14 retail support centres in the United States and freight forwarding operations on the West Coast and East Coast, ACE features three international distribution centres in Dubai, Shanghai and Panama. The international distribution centres provide: 1. Easier access to core stock of leading brand products and certified ACE products through their global supply warehouse 2. Online ordering systems 3. In-market fully operational support offices. â€Å"It is very useful to have Ace as a partner for this type of market. It is nice to be able to replenish your inventory on a weekly basis, which makes it easier to control. Our goal is to be a one stop shop for everything in your home, and we can do that with Ace. The people in the community can buy the Ace brand with confidence because it’s proven to be a good quality product. Jorge Ossa  Commercial Manager, Cemaco – Guatemala (ACE Hardware Corporation, 2012). ACE has established an accurate and demonstrated operating model for effective and efficient distribution allowing ACE Hardware retailers the wholesale benefit they require to be successful and profitable. Below are the some of the wholesale advantages available for ACE Hardware store owners:- * Lowest cost of goods * Named #1 Distributor according to Home Channel News in 2009, 2010 and 2011. (Home Channel News, August 2011) * #1 in wholesale sales at $3. 5 billion (Hardware Retailing, December 2010 ) * The combined buying power of over 4,100 locations To support the growing number of international ACE retailers and leverage international wholesale opportunities, ACE opened the Ace Global Distribution (ASG) warehouse in Shanghai, China 2006 (ACE Hardware, 2012). 3. 2 Legal Structure Each Ace Hardware store is individually owned and operated by local entrepreneurs – hard-working, passionate business owners who are involved with and, many times, exist in the communities where their stores are based (Ace Hardware Corporation, 2012). . 3 History ACE Hardware organisation was founded when Richard Hesse, Frank Burke, Oscar Fisher, E. Gunnard Linquist, William Stauber unified to form a purchasing and advertising enterprise among their Chicago- area hardware stores. Moreover, their combined buying power allowed the store owners to negotiate lower prices on merchandise acquired from wholesalers. Therefore, embracing the ACE name in 1927 and incorporated the succeeding year. Frank Burke served as president of the group and was succeeded by Richard Hesse in 1930. Over the next two years the firm progressed into a hardware organisation, obtaining directly from producers and storing merchandise in its own warehouse in Chicago. This strategy allowed ACE to further reduce costs by removing ‘middlemen’ wholesalers (Anonymous, 2012). Moreover, during its first half-century of operation, ACE was basically a conformist wholesale group, and its profits were distributed equally among shareholders. The company’s low-cost purchasing and distribution procedures quickly enticed new employees and franchisees. By the mid – 1930’s, the organisation had 41 members and sales of more than $650,000. Throughout history, ACE has accomplished to solidify their position as one of the strongest and leading competitors in the hardware industry. 3. 3. 1 Mission The mission of the ACE team is to ensure that their customers are satisfied. According to (Anonymous, 2012), â€Å"When something goes other than the way it was planned, we do everything in our power to make it right. You have the ACE promise on that†. In relation to corporate social responsibility (CSR), ACE Hardware has partnered with the CMN hospitals to give back to communities. The ACE Foundation has raised over $50 million since 1991 to help sick and needy children through partnerships with Children’s Miracle Network (CMN) hospitals. ACE also supports the American Red Cross Natural Disaster Relief Fund through donations of work gloves, shovels, mops, bottled water and more (ACE Hardware Corporation, 2012). Once again, ACE is proud to serve as a sponsor of the Champions program. The retail stores and ACE foundation organise a myriad of fundraising initiatives, many of which our generous customers are welcome to get involved. Furthermore, these fun and unique experiences raise much-needed funds that essentially result in the power to change lives and treat sick children at the Children’s Miracle Network Hospitals around the United States. Miracle Jeans Weeks is a program where employees throughout the company wear jeans during the company’s five designated Miracle Jeans Weeks each year. Furthermore, with a cost of $1 per day and almost 900 people on campus, it’s never in doubt that thousands of dollars are raised yearly from this enterprise. 3. 3. 2 Goals amp; Objectives One of ACE’s goals is customer satisfaction as they value their customers. â€Å"We know our customers want to be spoken to in a more personal manner, rather than in a blast† says Rich Neal who is ACE’s one-to-one manager. â€Å"So we have robust analytics team, and follow-up purchases with thank-you emails and direct mail, broken down into eight categories, including grilling and lawn and garden† (Mahoney, 2011). Therefore, for ACE Hardware customer satisfaction isn’t just an idea, it’s basically the entire purpose. According to (Marketing charts staff, 2011), J. D Power and Associates (2011) U. S Home Improvement Retailer Satisfaction Study, Ace Hardware ranks highest in satisfying home improvement retail store consumers, accomplishing a score of 786 on a 1,000-point scale, for the fifth consecutive year.. The study, now in its fifth year, measures customer satisfaction with home improvement retail stores which is built on the overall performance on five aspects: staff and service; store facility (including merchandise and cleanliness); merchandise (product information details); price; sales and promotions. 3. 4 Company Structure Aces Board of Directors establishes guidelines for Ace management. There are between nine to 12 director positions. Ray Griffith assumes the role of president and CEO and David Ziegler as the chairman of the board. 4. 0 Ace Product analysis: Ace hardware store offers an extensive range of more than 30,000 quality household products from kitchen mops to garden furniture and camping equipment. Ace’s product range consists of the everyday items such as sponges and shower curtains as well as occasional purchases such as wall paints and lawnmowers. Ace’s Products are categorized into: Outdoor Lifestyle: Ace has a wide range of outdoor lifestyle products to suit distinct tastes and needs -Outdoor furniture -Camping -Barbeque -Pools and spas -Outdoor constructions Gardening: a stimulating selection to meet outdoor gardening needs. -Gardening tools -Seeds -Indoor/outdoor plants -Pots and vases -Watering -Fertilizers and chemicals -Landscaping -Fencing and edging -Water features -Garden decor -Garden lighting -Shades and turf DIY: With the widest product range, competitive prices and informed staff, ACE is the choice for D. I. Y. enthusiasts. All ACE stores offer a wide selection of Tools, components and essentials for DIY as well as the biggest range of world renowned brands in power tools. ACE also provides free advice and solutions on any hardware or D. I. Y problem as well as free repairs on power tools under warranty. -Power tools -Hand tools -Hardware -Fastenings and fixings -Tool Storage -Timber -Electrical -Security Equipment -Safety Automotive: Ace has a wide range of quality automotive products. From accessories, cleaning and car care products, sunshades, 4X4 accessories and emergency kits to enhance the looks and performance of your vehicle. 44 adventure -Car Cleaning and Maintenance -Car Interior -Emergency and Safety Painting and Decorating: Ace offers more than 16,000 colors of paints; customers also can mix their own colors to come up with their ideal paint pallet. Ace provides all the necessities needed to complete the process of decorating homes. -Paints -Paint Equipment -Adhesive and fillers -Wall coveri ng -Arts, crafts and hobbies Home ware: ACE home ware has a complete range of lifestyle accessories all under one roof. -Cleaning, Laundry -Storage, Packaging -Living -Bed and Bath -Kitchen -Electrical -Wellness Pet Care: ACE offers a range of pet supplies and related pet products and accessories catering to dogs, cats, birds and fish. Ranges vary from pet food, toys and other essential pet care accessories. Services: Rental service: The Ace Rental Place offers a wide variety of equipment for rent on a daily, weekly or even monthly basis, great for items required for few usages or simply to try them out before deciding on the purchase. All rental items are well maintained with expert customer service. Customers can rent the following items:- †¢4 Burner Gas Barbeque †¢Upholstery/Carpet Cleaner †¢Generator †¢High Pressure Cleaner †¢Port-a-cool Ladder 16ft Multi-master In store services: -Assembly Installation/key cutting -Automotive chip key cutting- Pipe Cutting and Threading -Blade sharpening Screen Repair -Computerized paint – color matching- Small Engine Repair -Delivery- Special Order Services -Glass and acrylic sheet cutting -Glass repair -In store lock servicing 4. 1 Customer profile/demand analysis: Aces vast range of products and services encourages a diverse range of customers with different needs and wants. Hardware stores in general often prioritize their target market as home owners as the products they offer are mostly for household use. Ace is more than just a hardware store that just sells tools for men, it’s a superstore that attracts both men and women who are making decisions in the appearance and upholding of their homes. Loyal customers As part of a customer retention strategy the Ace marketers have focused their attention on customer insights, by creating a card-based loyalty club – the Helpful Hardware Club (HHC) customers at the store can sign up to the program making them eligible purchase discounts and special offers. Ace targeted the Lifestyle segment to boost their retention program causing evenues to rise 5. 4 percent as lapsed customers were enticed by discounts to return to their local Ace stores. (Nielsen 2009) Aces product portfolio also consists of outdoor leisure activities targeting consumers that are not necessarily home owners or prime decision maker with the household. Products for occasions such as camping or barbequing target a segment of active leisure consumers. This segment broadens ACEs target market outside home owners. The demand is not only in home improvement products but also in the items needed to care for them. This demand has forced manufacturers to introduce a large range of new cleaning products which targets upscale shoppers who desire convenience and a more natural, non-toxic product. Current market Bahrain is regionally known for its cosmopolitan lifestyle suggesting sophisticated consumers, with their relatively high purchasing power these consumers have a high willingness to spend especially on premium products and brands. 4. 2 Competitive situation: (Ellen 2010) Ace Hardware Corp the largest retailer-owned cooperative in the hardware industry by sales and the second largest dealer-owned cooperative in the United States. Ace’s innovation is what led them to establish the strong position they hold today. With over 4,000 stores in 60 different countries ACE hardware were ranked 8th in franchise directs top 100 global franchise’s (Francise Direct 2012). Ace hardware store faces intense competition within the United States. The US home center, hardware store and home improvement retail industry includes about 23,000 hardware stores and home centers with combined annual revenue of about $150 billion. The home center segment of the industry is highly concentrated: the top four companies account for more than 90 percent of segment revenue (Hoovers 2012) The success of individual companies depends highly on competing low-cost purchasing, effective merchandising, and competitive pricing. The top three competitors of ACE are:- †¢Lowe’s Companies Inc. †¢The Home Depot Inc. †¢Do it Best Corp Despite the intense competition in their domestic market, ACE has an opportunity in Bahrain as the Hardware store industry is not as well developed leaving space for entry in to the market. However, there will of course still be some Potential Competitors in Bahrain that Ace will have to face:- Ace’s direct competitor in Bahrain will be Manazel Hardware store; Manazel first opened its doors in October 1995 at Salmabad, Bahrain. It is a family owned business based in Bahrain. Carrying more than 50,000 products ranging in over 20 categories, some of which include: Furniture, Home ware, Hardware, Bathroom ;amp; Plumbing accessories, paint and Sundries, Outdoor Living, Garden Furniture and Accessories. Their Materials are sourced from all around the world to provide everything for your home and garden. Manazel 2012) Ace could initially face challenges competing with Manazel due to it being a locally based company, depending on the loyalty of their consumers it could be difficult in convincing them to switch to ACE. Ace has the advantage of being a well-established global brand and with the high rate of expatriates in Bahrain they may naturally prefer to switch to a m ore recognized brand. Ace will also face competition amongst the small local hardware and tool stores. These stores are popular amongst price sensitive customers. 5. 0 Environmental factors 5. 1 Host Country Business Climate: Bahrain offers very distinctive traits in the Middle East. It enjoys a stable economy climate and competitive costs. It has an amazingly business friendly climate which is an attraction for ACE and other companies to do business in this country, it has an excellent regulatory framework, and supportive government policy (Najjar 2011) The Host country for ACE Hardware is Bahrain, Bahrain is an Arab country with a total land Area of 712 square kilometres, a population of about 1,234,571 (end of 2012), out of which 666,172 are locals, according to the central bank of Bahrain. The main towns in Bahrain are Manama and Musharraq, the climate is mainly very hot and humid, language is mainly Arabic, but English is widely spoken. The metric systems used include 1dhara=48. 26 cm, 1 rafa=254 kg, the currency is the Bahraini Dinar (BD) = 2. 65 USD, the Time is 3 hours ahead GMT (Bahrain: Basic Data 2012). Bahrain is an Arab country and has the monarchy system, the ruler, king Hamad bin Isa al-Khalifa is expected to be secure for some ime to come; the Al-Khalifa family has control over most of the executive branches of government and legislature remaining weak. There will however always be primary tension over economic and financial inequalities, with the halting pace of political liberalisation of sectarian discrimination. Real GDP growth for Bahrain was expected to slow down to 3. 1% in 2009, as mainly international demand for Bahrain exports is weakening, but was expected to recover to 3. % in 2010 (Bahrain economy, 2009), and is expected to rise up to 4-5% in 2 012 due to increases in crude oil production, manufacturing and government spending according to the Economic Development Board (EDB) (Andy 2012). Bahrain’s business climate in 2007 attracted almost $1 billion worth of investments in new projects in 2007 as reported by Dr Hassan Fakhro minister of Industry and Commerce, He also went ahead to mention that new investments in the new projects were worth 373. 3m Bahraini currency, which is about $987. 6 million and these new projects also created about 13, 536 jobs in the country (Middle East Financial News 2008). Oil production output from Bahrain’s single aground field is in decline however, and the monarchy government is aware of the country’s vulnerability to changes in oil prices globally, with oil being the major source of government revenue for the country accounting to more than 70% of the economy. The economy of the country also relies heavily on goodwill received from Saudi Arabia, which runs a large offshore oil field whose production it shares with Bahrain. All these limited resources has made Bahraini government to have the strategy of diversification in order to prosper, increase the role of the private sector and provide a welcoming environment for foreign investment. FIGURE 1. 0: BAHRAINI GDP 2001-2012 BAHRAINGDP GROWTH 2001-2012 200120022003200420052006200720082009201020112012 4. 6%5. 2%7. 2%5. 6%7. 9%6. 7%8. 4%6. 3%3. 1%4. 5%1. 8%2% SOURCE: global finance: Bahrain Country Report 5. 2 SWOT ANALYSIS: Strengths; ACE hardware is a strong brand both across the USA and the world stage, with more and more expansion into the global markets into several countries across all the continents of the world. ACE has the resources and ability to pursue growth in multiple directions, with the ACE leadership team making a smart decision of focusing on their paint production, which has made them gain a huge customer base and customer loyalty (Bueno 2012). In 2010 ACE hardware has generated in excess of $3. 45 billion in wholesale and retailers enjoyed the added bonus of collective buying power at this volume by getting a decreased cost in goods, which has built the basic foundation for a more profitable option (ACE 2011). ACE produces many DIY products and many changes have taken place in this market over the last 85 years, ACE ownership however still remains the on top in customer satisfaction according to Business week and was ranked â€Å"highest in customer satisfaction Among home improvement stores four years in a row† (JD power and Associates) ACE hardware also enjoys major success in the market share with the help of top of the range advertisement and reduced goods cost, it has slowly established itself to be a major player in the global market for hardware products. ACE also expanding its wings to get a piece of the business boom, and with the advantage of an established brand name, it will be relatively easy to penetrate under developed markets as more businesses would want a merger with them as opposed to its rival companies. ACE is a sophisticate and established brand worldwide, and has adopted the new technologies as they come which has giving the company a competitive advantage as they are more organised and technologically more advanced, which has led to reduction in production costs for the company. The expansion of ACE into the global market has seen it gain market share, more so than their competitors such as Home Depot, Lowe’s etc. Weaknesses; ACE hardware has relatively small stores, compared to their rival companies like Lowe’s, Home Depot and Menards on selection ACE Hardware in 2008 reported a net income of $10. 8 million for the first quarter of 2008, which was a decrease as compared to 2007 when they reported $14. 1 million which was a $3. 3 million decrease. The company also reported earning s before interests and taxes of $13. million in the first quarter of 2008 as compared to $29. 2 million in the first quarter of 2007 (9) ACE hardware has encountered losses resulting from physical damage to breakdown of its computers in the European market, which has led to replace damaged computer hardware, the reinstatement of lost programs or Data and also had to increase working costs as a result of the problems (10). Opportunities Bahrain’s financial freed om ranking is 77. 7, making its economic system the Tenth freest in this years Catalog (2012). Its overall ranking is 1. 4 points higher than last year, with upgrades in trade freedom; investment freedom, work freedom, and freedom from data file crime error. Bahrain is rated 1st out of 17 nations in the Centre East/North African-American area, and its financial freedom ranking is well above the world average (Bahraini economic development Board, 2012) from the perspective of Ace this reduces business constraints giving them the freedom to commercialize their brand and reduces limitations on investment. Situated near commercial establishments in the Gulf with a causeway relationship with Saudi Arabia and the rest of the GCC, Bahrain is seen as a gateway to the Gulf, an industry of over 100 thousand individuals. Bahrains variety and openness keeps presenting opportunities for exporters. It has the most varied economic system in the Gulf Bahrain does not currently have a competitive hardware industry with only a few entrants and one major Hardware store giving ACE the flexibility to enter and the means to operate however they choose. The hardware market ACE is involved in is a highly competitive market, it takes a lot of marketing research by ACE and expensive research and new technological adaptations for the company to stay ahead of competition, couple with the reduced purchasing power of consumers due to economic downturns globally have been detrimental to business for ACE. Threats The law requires that you have a local partner who maintains most majority interest and can therefore manage the company and can close it anytime he wishes. The local partner, be it an organization or an individual, does not need to give rise to the start-up financial commitment or take part financially at all. (Bahrain, 2010). This could mean lack of security for ACE as there is the chance of being closed down with no warning or notice. The changes in labor Laws and regulations constantly by the US and other countries have been detrimental to their expansion, other domestic and international factors also have to be considered by ACE before entering into any market in any country, such as culture, corporate social responsibility obligations are all external factors that ACE has to consider. The process of opening a business in Bahrain is complicated and economically dangerous, significance that local information is essential. You must also seek advice from a good attorney from the beginning. A knowledgeable attorney will provide information to you through the signing up complications and his help will be important in defending your interests. This is applicable whether you are starting a moderate shop or a big enterprise (Bahrain 2010) The current Political unrest in Bahrain creates an unpredictable business environment. If the unrest becomes worse this could have major effects on Ace’s business activities in the region, currency fluctuations and could see reductions in the amount of expatriates present in Bahrain causing Ace to lose a large part of their target market. 5. 3 Government constraints in Bahrain Economic growth The economic growth is for Bahrain is likely to slow down in Bahrain; it went down to 3. 3% in 2010 as regional growth in the country as government finances are getting squeezed. Local consumption of private homes and offices is expected to slow sharply, with no a real positive growth in the employment sector. However government consumption growth in Bahrain is forecasted to also slow down. For ACE however the major demeaning factor of business entry into Bahrain would be the limited fiscal constraints in the country, as well as the subdued outlook for global direct investments flows. And the demand for exports and of goods and services is also forecasted to decline, ACE might have a hard time penetrating into the Bahraini market (Ace Hardware 2008). Economic policy An advantage for ACE going into the Bahraini market is the countries determination to move away from the oil sector. The government is determined to stimulate the private sector growth and foreign investments, and address high unemployment problems (Bahrain News Agency 2012) this would be an advantage to ACE as the government will give them an advantage of being accepted into the country without many business constraints. They can be assured of government support which is a large determinant of business success or failure for any business going into another country. Inflation and the exchange rate Consumer price inflation is expected to moderate in the coming years because of slower domestic demand growth. But with a relatively strong currency against the Euro and the Dollar inflation is expected to slow down an average of 1. 8% in 2009-2010. The Bahraini government is intending to enter into a currency agreement with Saudi Arabia, Kuwait and Qatar, and with the UAE, which has pulled out though, and the government and the central bank of Bahrain is expected to maintain the dinar’s value and peg it at the rate of BD0. 67=$1 that has been in place for 3 decades (Bahrain News Agency, 2012). Setting up a business in Bahrain For ACE hardware it would be good news for them to know that Bahrain is ranked first in the Economic freedom index in the Middle East and North Africa (MENA) region, and is seventh overall globally according to the Fraser institute Report 2012. The report by Fraser classifies these countries by using themes such as governm ent volumes, legal system, and intellectual property rights security, accessibility to sound funds, freedom of international trade and organization credit, manpower and companies. All these factors are important criteria to be considered by ACE before going into business in Bahrain. 5. 4 PEST ANALYSIS Political Legal Environmental Laws Bahrain has set up a strict law on polluters as fines of up to $133,000 are issues under Bahrain’s new environmental protection law, this is the first law of it ‘s kind related to anti-pollution in the Persian Gulf state. This law covers everything from car emissions, noise and workplace pollution, as well as handling and disposing of hazardous waste materials and chemicals. This is in accordance with what ACE has to achieve to be successful in Bahrain by practicing Corporate Social responsibility (CRS) to maintain the environment in Bahrain or risk serious government and legal issues (Pittsburgh Post, 1996) Stability of the Government Bahrain has entered into an era of instability due to a combination of the Arab spring recently, longstanding local grievances, the competition of regional powers and other external forces. The solution to this problems can be dialogue between the ruling Al-Khalifa Family and all opposition parties. The crisis has however slowed down in recent times with more and more dialogue and compromises being reached between both parties (Bahrain’s Quest for Stability 2012). Economic GEP growth in Bahrain In 2004 the Bahraini GDP has been reported by the ministry of commerce to have grown by 5. 2% from the previous year, this has been largely due to increase in foreign direct investment flow (Middle East 2004) and has been growing ever since with a reported GDP of 2. 1% increase in 2012. Currency The Bahraini currency is the Dinar and at 0. 67 Dinar to a US Dollar it is one of the strongest currencies when it comes to exchange in the World. Consumer price inflation is expected to moderate in the coming years because of slower domestic demand growth. This for ACE can only mean good news as it will be a positive currency to work with and no inflation worries that have to be considered by ACE. Social Population distribution in Bahrain The Bahraini age distribution has been as of the ye ar 2010 the kingdom was 1,234,571, part of which 568,399 were locals and the other 666, 172 were non Bahrainis. This from 2001 the population was 650, 604, this is an increase of 89. %. However, the population of the locals has decreased from 2001 to 2010 reaching 46% from the previous 62% in 2001. The proportion of the population of Bahrainis in the total population during the period from 2001 to 2010 decreased, reaching 46% in 2010; while the corresponding figure in 2001 was 62%. The percentage of non-Bahrainis increased 54% in 2010 while it was 38% in 2001 (Census, 2010). This shows an increased number of expats coming into the country which will mean for ACE that products should not only be made to suit the local citizens but the majority foreigners, which means overall business strategy has to change. Religion and Language: The official language in Bahrain is Arabic; however English is widely spoken mainly in business meetings and other social interactions. The non-Bahraini in the country mainly speak Farsi an Iranian language, or Urdu which is a Pakistani language. The main religion in Bahrain is Islam, which is the 2nd largest religion in the world, Muslims in fast for a month every year in the month of Ramadan. The Bahrainis though make use of both the Islamic and western calendar but mainly use the western calendar for business operations. Business meeting etiquette Appointments are necessary, morning meetings are preferred. However meetings are not advised during the months of August and July because most Bahrainis travel out the country when the heat is at its worst. , they are quite time conscious, so arrive at meetings on time. Personal topics should generally be avoided unless the relationship has developed or there is need to discuss matters confidentially. Bahrainis usually have an open door policy, so meetings do get interruptions. Business meetings also start after a long talk about health, family etc. Business Negotiation Etiquette The building of trust is important since trust is required in order to conduct business. Bahrainis are very time conscious and time driven, the actual meeting is more important than the timeliness or outcome. Bahraini organizations are hierarchal, the highest ranking employee or worker reaches decision. Decisions are top down and lower level employees usually have no say. Decisions take a lot of time; if you try to rush it will be perceived as rude and disrespectful. Technological The economic system in Bahrain relies upon intensely on innovative petrochemical technology, and many Bahrainis have had or are getting specialized training at several universities all over the country. Technology is just coming up in Bahrain with many projects being undertaken in recent times, but perhaps the most important is the Bahrain Green Tech EXPO which is dedicated to the green consumer products. Due to the high demand for environmental protection globally, Bahrain has taken this as the only business to business trade show focused specifically on ECO friendly consumer products. 6. 0 Business Strategies 6. 1 Product /service positioning Positioning is what the customer believes about your product’s value, feature, and benefits, it is a comparison to the other available alternatives offered by the competition (Jackson, 2012). Some basic strategies include:- By attribute or benefit This is the most frequently used strategy in positioning. In this case, Ace hardware’s products are mostly house used products, and the benefits they can give to the customers are the after service, and the quality. The after service they give is mostly repairing, assembling and delivery. Level of service and quality of a product offering are the main influences of developing a strong brand image. By user Customers often choose brands that identify with their own self-image. Ace should position itself to suit the image of the end user. Therefore ace should focus on the wants and needs of their target audience and how they perceive themselves and the brand. By competitor Competition wouldnt be much of an issue for Ace since they would be entering a market that is not fully developed in Bahrain with few competitors. But they should remain aware of new entrants which are always a possibility and they need to be aware of the changes that may occur. By price or quality Price and quality are directly related in minds of consumers, People are willing to pay premium prices for premium brands that are have high quality. It is very important for Ace to identify where they want to be placed on the pricing matrix shown in figure 1. Ace product offerings vary in brands therefore prices will also vary depending on brand and quality. 6. 2 Pricing strategy Because of Ace’s diverse product range of brands they would need to use more than one pricing strategy. Using the pricing matrix above ace could use this as a guidance to set appropriate pricing strategies. Premium Pricing: One pricing strategy suitable for Aces different brands is premium pricing. Certain brands offered by Ace are luxurious brands with high quality and high price. It is clear on the matrix for these products Ace should use premium pricing which allocates high prices to those brands Economy Pricing: Ace also offers products at more affordable prices however they may have lower quality then premium brands. These types of products attracts customers that are not willing to spend excess amounts of money and would rather spend less for less quality Competitive Pricing: ACE could also use competitive pricing strategy to set benchmarks on their own prices. This strategy is most effective when there are limited competitors in the market which is the case for ACE and Manazel. Ace has a clear advantage over Manazel as it is a globally established company enabling them to set their prices slightly higher than Manazels. Estimated Selling Price: The estimated selling price for ACE hardware products in Bahrain would have to be set under consideration of several factors, such as the GDP of the country, the purchasing power of the country, the competitor prices and the strength of the Bahraini currency The GDP is the value of all final goods and services produced within a nation over a period of a given year. The Gross domestic products (GDP) of Bahrain is the lowest in the Middle East with a reported $32 billion in 2011, however when it comes to consumer purchasing power of Bahrain, it is ranked fifth in the Middle East with a reported $27,900 in 2011. ACE can base it’s pricing on this and compare to its most similar market which is the UAE which is ranked second on the purchasing power list in the Middle East with $48,800 in 2011 (Index mundi, 2012) The Bahraini currency is a major factor for setting prices, comparing to the UAE market which is the closest to Bahrain both geographically and economically 1 Bahraini Dinar = AED 9. 7 so prices can be higher for the Bahraini market considering the difference in currency strength. Bahrainis live a very cosmopolitan lifestyle and would be prepared to buy from expensive and established brands (Numbeo, 2012), which will mean ACE, shouldn’t face many issues setting medium to high prices in Bahrain. But for the large number of expat s in Bahrain ACE has to adapt itself due to the target market it has set for itself when setting prices. Expats are genuinely not price sensitive when it comes to purchasing from known global brands as they find it easier to trust brands they are familiar with. The most important factor however is comparison of process with its main competitor in Bahrain which is Manazel; this company has built its reputation in Bahrain as one of the best Hardware stores and offers discounts and promotional vouchers to loyal customers (Manazel, 2012) which will mean stiff competition for prices for ACE. However, due to lack of information on actual goods prices for Manazel, ACE can do further research and sets it prices on information found. 6. Distribution and logistics Ace products will be available to customers through two sources: Retail sales: as many of its branches worldwide also provide retail shops, similar shops should also be provided in Bahrain in different major cities, to make the products more accessible to customers in more varieties, and as shopping is part of the Bahrainis past time this will be a major attributor to its overall sales. It will also increase overall brand popularity of ACE in Bahrain. Online store catalogue: ACE provides this service for many of its branches in different countries worldwide, but as internet commerce is not popular in Bahraini ACE should not expect major traffic on these online websites. Ace currently has distribution centers located in various parts of the world to enable more efficiency for their global stores at different pin-points. This way transport costs can be cut as well as time on delivering inventory. The closest distribution center to Bahrain is currently in UAE being operated by the Al Futtaim group. Ace can extend their current agreement with Al Futtaim for them to deliver across to Bahrain and take care of their inventory as well as the UAE. 6. 4 Promotion and Advertising Promotion ACE’s competitor in Bahrain Manazel offers various promotional vouchers and discounts to its customers, should be a model ACE will focus on that will help it gain more popularity with customers. Coupons, discount vouchers, loyalty cards should all be included as promotional tools by ACE and all promotional activity should reflect the goal ACE wants to be perceived as which is ‘the helpful store†. Advertising The most important part of marketing for any product is advertising, there are several tools ACE could you to get its name out in Bahrain which include, word of mouth, billboards on (major signs, buses etc. ) radio adverts, Television and much more. Due to culture and market similarities with the UAE ACE could use existing ads in Bahrain to cut costs in advertising research. 6. 5 Estimated sales/sales mix A sales mix is the specific sales of each product offered by a company in comparison to total product sales. Businesses commonly track this information to figure out exactly how much profit they make or can make when marketing a range of items or services. The sales mix of products will often impact an organization’s bottom line. 6. 6 Production/service strategies Production or operations strategy refers to the pattern of decisions or course of action that the organization takes to produce goods and services. The production strategy shows the direction the production or operations function of an enterprise should take. It has important consequences for the way production resources are selected, deployed and managed (Sarkissian. 2012). 7. Financial Planning â€Å"Financial planning is the process of meeting your life dreams/goals through the proper management of your finance† (Beniwal, 2010). This allows the usage of several financial tools such as Profit and Loss Statements, Cash Flow Projection and Financial Analysis to basically achieve financial objectives. 7. 1 Profit and Loss Statement Below is the Condensed Consolidated Statements of Income (Unaudited) for the three and nine months ended September 29, 2012 and October 1, 2011. ACE HARDWARE CORPORATION| | | | | | | | CONDENSED CONSOLIDATED STATEMENTS OF INCOME| | | | | | | (Unaudited, in millions)| | | | | | | | | | Three Months Ended| | | Nine Months Ended| | | September 29,| | October 1,| | September 29,| | October 1,| | | | 2012| | | 2011| | | 2012| | | 2011| | | (13 Weeks)| | (13 Weeks)| | (39 Weeks)| | (39 Weeks)| | Revenues| $| 949. 9| $| 912. 0| $| 2,929. 0| $| 2,787. 5| | | | | | | | | | | | Cost of revenues| | 826. 1| | | 797. 6| | | 2,564. 3| | | 2,449. 3| | | | | | | | | | | | | | | Gross profit| | 123. 8| | | 114. 4| | | 364. 7| | | 338. 2| | Distribution operations expenses| | 25. 1| | | 26. 2| | | 74. 4| | | 70. 7| | | | | | | | | | | | | | | Selling, general and administrative expenses| | 35. | | | 36. 2| | | 104. 5| | | 104. 3| | | | | | | | | | | | | | | Retail success and developme nt expenses| | 26. 2| | | 27. 6| | | 91. 5| | | 84. 1| | | | | | | | | | | | | | | Total operating expenses| | 86. 8| | | 90. 0| | | 270. 4| | | 259. 1| | Operating income| | 37. 0| | | 24. 4| | | 94. 3| | | 79. 1| | | | | | | | | | | | | | | Interest expense| | (4. 2)| | | (8. 9)| | | (20. 2)| | | (27. 8)| | | | | | | | | | | | | | | Loss on early extinguishment of debt| | -| | | -| | | (19. 9)| | | -| | | | | | | | | | | | | | | Interest income| | 1. 0| | | 1. 5| | | 2. | | | 3. 8| | | | | | | | | | | | | | | Other income, net| | 1. 7| | | 1. 5| | | 5. 0| | | 6. 1| | | | | | | | | | | | | | | Income tax expense| | (0. 9)| | | (1. 4)| | | (2. 4)| | | (2. 4)| | | | | | | | | | | | | | | Net income| | 34. 6| | | 17. 1| | | 59. 7| | | 58. 8| | Less: net income attributable to non-controlling interests| | 0. 3| | | 0. 1| | | 0. 3| | | 0. 3| | | | | | | | | | | | | | | Net income attributable to Ace Hardware Corporation| $| 34. 3| | $| 17. 0| | $| 59. 4| | $| 58. 5| | Accrued patronage distributions| $| 33. 3| | $| 15. 2| | $| 57. 0| $| 53. | | See accompanying notes to the condensed consolidated financial statements. | | | | | Ray AGriffith, GuziK, William M amp; Gast, Erik D. , 2012). | | | | | | | | | | | | | ACE HARDWARE CORPORATION| | | | | | CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS| | | | (Unaudited, in millions)| | | | | | | | Nine Months Ended| | September 29,| | | October 1,| | | 2012| | | 2011| | | (39 Weeks)| | | (39 Weeks)| Operating Activities| | | | | | Net income| $| 59. 7| $| 58. 8| Adjustments to reconcile net income to net cash provided by operating activities:| | | | | | Depreciation and amortization| | 30. | | | 29. 0| Amortization of deferred gain on sale leaseback| | (0. 9)| | | (0. 9)| Amortization of deferred financing costs| | 1. 6| | | 2. 2| Gain on disposal of assets, net| | -| | | (2. 0)| Provision for doubtful accounts| | 2. 8| | | 3. 2| Loss on early extinguishment of debt| | 19. 9| | | -| Other, net| | 0. 2| | | -| Changes in operating assets and liabilities:| | | | | | Receivables| | (43. 2)| | | (39. 0)| Inventories| | (28. 9)| | | (68. 9)| Other current assets| | (2. 6)| | | 2. 7| Other long-term assets| | (7. 0)| | | (8. 0)| Accounts payable and accrued expenses| | 32. 6| | | 72. | Other long-term liabilities| | 6. 0| | | 2. 2| Deferred taxes| | 1. 1| | | 5. 0| Net cash provided by operating activities| | 71. 3| | | 56. 6| Investing Activities| | | | | | Purchases of marketable securities| | (9. 0)| | | (46. 1)| Proceeds from sale of marketable securities| | 8. 6| | | 46. 3| Purchases of property and equipment| | (31. 2)| | | (19. 5)| Decrease in notes receivable, net| | 1. 6| | | 1. 4| Other| | 0. 1| | | 0. 1| Net cash used in investing activities| | (29. 9)| | | (17. 8)| Financing Activities| | | | | | Net borrowings under revolving line of credit| | 113. 0| | | 9. | Proceeds from issuance of long-term debt| | 200. 0| | | -| Redemption of senior notes| | (301. 3)| | | -| Principal payments on long- term debt| | (7. 5)| | | (4. 0)| Payments of deferred financing costs| | (5. 2)| | | -| Payments of cash portion of patronage distribution| | (27. 7)| | | (26. 4)| Cash Flow Projection Condensed Consolidated Statements of Cash Flows (Unaudited) for the nine months ended September 29, 2012 and October 1, 2011 Payments of patronage refund certificates| | (17. 3)| | | (17. 3)| Proceeds from sale of noncontrolling interests| | 0. 3| | | 8. 8| Other| | 0. 6| | | 0. | Net cash used in financing activities| | (45. 1)| | | (29. 2)| (Decrease) increase in cash and cash equivalents| | (3. 7)| | | 9. 6| Cash and cash equivalents at beginning of period| | 15. 8| | | 9. 3| Cash and cash equivalents at end of period| $| 12. 1| $| 18. 9| Supplemental disclosure of cash flow information:| | | | | | Interest paid| $| 21. 3| | $| 20. 1| Income taxes paid| $| 0. 9| $| 0. 5| See accompanying notes to the condensed consolidated financial statements. | | | | 6| | | | | | (Ray A Griffith, GuziK, William M amp; Gast, Erik D. , 2012 8. 0 Management considerations ACE will undertake a big change in bringing ACE hardware to Bahrain, Bahrain overall will be a good prospect as the company has penetrated a similar market in the Middle East (i. e. United Arab Emirates) and with a very stable economy and freedom of business with no government interruptions it will be a relatively easy venture for an established brand such as ACE. However the management at ACE has to consider several factors that will make the venture a more smooth transition, such as trying a joint venture with a local business, culture considerations so as not to put out unethical products. 8. Personnel/sales force factors A sharp forecast of more and employees getting into the professional field in Bahrain, and the stiff rise in population over recent years and also the preferences giving to the locals in hiring, ACE hardware has to take into considerations means and processes of hiring its employees, personnel training and qualification has to be of the highest standard and profe ssional communication skills has to be a criteria in hiring employees 8. 2 Business Advisors: With the help of a business advisor Ace could more effectively implement their strategy to break into the market in Bahrain. An effective business advisor would ensure a smoother transition by assisting ace in dealing with the laws and regulations entering the market and guiding them through government policies. Due to Aces existing established stores already present in the UAE the corporation already has knowledge on the different structures of setting up business in the Middle East. Business advisors in Bahrain would help them in ways more specific to the Bahrain market and can also help them with most effective Methods of Marketing in the country and the most effective locations to set up stores. 9. Recommendations/Conclusion Ace should undertake an aggressive marketing campaign upon entering the market in order to create brand awareness using ‘Coming soon† promotions to build up the hype of the store. Ace should engage with local business advisors in Bahrain to help guide them with cultural differences and deal with government legislations and regulations. Ace should undertake further Exten sive research to gain a better understanding on aspects of the Bahrain hardware market and to know their potential competitors and their offerings more in order to price, promote and operate more effectively.