Five Examples Of Transfer Apply Texas Essay A Statement Of Purpose

Five Examples Of Transfer Apply Texas Essay A Statement Of Purpose You’ll quickly be able to spot what’s wrong and know what to do when you begin your second draft. Make sure to include elements from each of your lists. Influencers may be your high school drama teacher or a famous actor or actress (make sure you detail why they are your influencer. Wrote my first play in the fifth grade and then directed the production for the entire school. After you complete each list, start elaborating by adding in details. This means that we can help you craft an essay based upon your own unique experiences and aspirations. Avoid the use of excessive humour and excuses as to why you have low grades. Make sure that when you set out to write that you write the entire thing from the beginning. Avoid the temptation to cut and past but instead, open up a new file and start all over from the beginning. Before you start your second draft, set your first draft aside for a few days and then read it again with fresh eyes. I have learned to accept my “ambiguity” as “diversity,” as a third-culture student embracing both identities in this diverse community that I am blessed to be a part of. I look around my room, dimly lit by an orange light. On a desk in the left corner, a framed picture of an Asian family is beaming their smiles, buried among US history textbooks and The Great Gatsby. A Korean ballad streams from a pair of tiny computer speakers. Pamphlets of American colleges are scattered about on the floor. A cold December wind wafts a strange infusion of ramen and leftover pizza. On the wall in the far back, a Korean flag hangs besides a Led Zeppelin poster. The best applications and the weakest don’t come to committee. It’s the gigantic stack in the middle that warrants discussion. Unlike other sites, we are also able to offer complete essay development through our proprietary Biographâ„¢ process. Once you have your list and a few sentences written, it should be a bit easier to narrow your topic to just one or two things at most. WORD PACKAGES Some phrases â€" free gift, personal beliefs, final outcome, very unique â€" come in a package we don’t bother to unpack. They wade through long lists of candidates, state by state, region by region. If you try to work through the stress, you may end up producing subpar work. PROCEED We hire only the best academic writers to our team. The theme hook needs to be strong enough to make your message clear and set your essay apart from everyone else’s. The opening hook needs to be intriguing enough to get the reader interested in the story. Anything you can think of should be added to the list as long as it meets the three criteria we mentioned earlier. These will become the first morsels of truth you will include in your essay. You need a strategy to get all of that into an essay and still tell a compelling story. You will have to pull out all the stops to make it happen. Here are some practical guidelines you can use to make sure that the essay you create delivers the exact message you want them to receive. The point of the essay is to highlight your strengths and minimize the weaknesses. Discover schools with the programs and courses you’re interested in, and start learning today. If you're starting to feel frustrated or overwhelmed by your essay, take a break and do something else. A short walk around your neighborhood can help clear your mind and help you brainstorm new ideas for your composition. If you're still feeling overwhelmed, do something completely unrelated to your essay and forget about it completely for a while. This might include a hobby, a genre of music, an important person in your life, a pivotal memory or experience, a bookâ€"anything meaningful that you consider part of your identity or that defines you. Start by making a list of these things and creating a word web of other relevant or secondary aspects of this one idea, person, object, or experience. Write some brief sentences about exactly why it is important to you.

Application Essay

Application Essay Remember this is more of a written job interview than a first date in paragraph form. Just get startedâ€"the hardest part is the first part. Starting early is key to writing a college essay, so you should get started the summer before your senior year. If you can get your essay finished during this summer, you’ll have plenty of time to adjust it or rewrite it, as well as to get started on other essays, as well. Plus you’ll be in a position to apply for early decision deadlines by the winter, which is always a good idea. So for now, how do you create a college application essay, personal essay, common app essay, or whatever you need to write to get in? These tips will get you most of the way thereâ€"you’ll just have to come up with the exact words. The college admission essay format is dependent on the structure you use when writing it. You are probably used to the standard five-paragraph essay with the introduction, three-paragraph body and the conclusion. However, in most cases, this is not the recommended format for an application essay. Now that you have the outline as your guiding light to use when writing your essay, it is time to write it. It is said that a writer is only as good as his rewrites, and this is how you are going to hack this essay. Because personal essays are about you, you may find yourself on a roll re-living your memories. Your personal reflections are the key to keeping the reader invested, but don’t let them carry you away. Stay focused on the essay promptâ€"for example, a question about an experience outside the classroom that shaped who you are. Make what you write about what you learned from the experience, not the exact details or context of the story. Of course you can find samples of admissions essays online but be aware that if you can find them, so can everyone else. And the admissions board will soon get sick of reading the same idea over and over again. First, write down a rough draft without going back to edit anything. After you are done, read through it while noting the mistakes. Over the years, students who tell me they absolutely love to write have said they struggle with the application essay. So if you’ve been biting your nails or tearing your hair out even a little, you’re not alone. Answer the questionâ€"this sounds obvious, but it can be easy to forget. Each paragraph in this instance will be part of the narrative you are giving. The same applies where the essay is critical one or a persuasive essay. Your admission essay lets you personalize your application. The writing sample you submit will be considered in both the admission and competitive scholarship selection process. Be sure to include your full name on each page of your submission. It is completely unique and no other student will have anything the same. Our writers here ensure that your essay is unique. You need to think outside of the box and grab their attention in a new way. Here, the reader is introduced to the idea of what you are going to write about. The format of the body is dependent on what you want to write about, and this content is dependent on the college admission essay topic you have. If the question expects a narrative of sorts, your essay will take a narrative format. They don’t copy and paste example essays and they don’t resell your essay. It will pass any plagiarism checker and it will be a breath of fresh air for the admission board. The best admissions essays answer the admission essay question fully without rambling and in line with the guidelines. They sell a student without sounding egotistical and they express an interest in the chosen institution without sound like a know it all or an ass kisser.

Strategies for Changing Brand Perception

Strategies for Changing Brand Perception If you are presented with flashcards of product logos, how many will you be able to identify?When presented with a logo or a brand name, what immediately comes to your mind? What feelings does the name invoke? How do you respond to it? Now try thinking back to the first time you encountered that brand. What did you think of it back then? What do you think of it now? Has it changed? If so, what changed?This means that your brand perception has undergone a shift. © Shutterstock.com | Stuart MilesIn this article, we 1) understand the basic concept of branding, 2) how to develop a brand strategy, 3) a quick overview on brand perception, 4) actionable strategies for changing brand perception for your company.THE CONCEPT OF BRANDINGBefore we go any further on the topic of brand perception, let us first take a look of what branding is.A “brand” is a name, term, design, or any other feature that distinguishes a product from one specific seller or manufacturer from that of another. “Branding”, on the other hand, is more than the process of choosing a unique name or image for a product. It actually involves embedding that unique name and image in the minds of the customers through various strategies and techniques, such as advertising campaigns and other marketing programs. Its goal is to make the brand gain a solid foothold in the market and carve a market comprised of loyal customers.A business cannot handle its marketing aspect without to uching on branding. In fact, branding is considered to be one of the most important aspects of a business since it is one of the major tools or strategies that will give the business a competitive edge.With their brands businesses give a promise â€" a representation of what they offer to their customers. It is also a tool that can be used to differentiate their products or services from that of their competitors. The brand is the thing that customers will first see, and we all know what they say about first impressions: they stick, and they last. Therefore, it is important to make sure you have a brand that fully represents the promise of what and who your business is, and make your customers stick with you.Let us take a look at why branding is important for all businesses.All businesses have a message to convey to customers, whether this is having the best product or wanting the customers to buy their product instead of others. Branding is their tool in order to deliver this messag e clearly and effectively to its target market.Branding adds credibility to a business. Customers will take a business more seriously if they have a brand to associate it with.Branding mainly targets the emotions of the customers, so if you want to connect with your customers on an emotional level, the best way to do that is to have excellent branding strategies in place.Branding is also a good way to motivate your customers into buying your products or service. Turn them into buyers and start earning that profit!Companies would like to have a customer base, develop loyal customers that will keep coming back to (and buying) the business.DEVELOPING A BRAND STRATEGYBranding does not end with coming up with a good name, an even better logo, and slapping both on flyers, brochures and advertisements that you release to your target market. Your business’ brand strategy is not something that you should take lightly, if you want your brand to have meaning for your customers.Brand strategy involves the what, where, when, how, and to whom you will be conveying your brand messages. What message will you communicate? What channels will you utilize to convey the message? Who will you target, and who will you use to get the message across? What timing will you follow in the delivery of the message?The aim of having a brand strategy is to increase the equity of the brand. Brand equity is seen as that value-adding element that will set your product apart from identical or similar products or services in the market. The stronger the brand equity, the higher will be the value of your product or service. That gives businesses a license of sorts to increase its premium or its price.Take Coca-Cola, for example. The market is now saturated with different brands of soda. However, Coca-Cola products are more expensive, and that is mainly down to the fact that it has already built a very strong brand equity. The same is true for Facebook. Other similar social network platforms have sprung in recent years, but Facebook remains to be the most popular and still widely used platform because it already has a solid brand equity besides its network effects.Much of the reason why some brands carry more weight or have more brand equity is because the companies or businesses behind these brands were able to find ways so that the market will have more emotional or personal attachment to them. Coca Cola’s advertising campaigns over the years involved utilizing the concepts of family, togetherness, and having that sense of belonging, all while sharing a drink of Coca-Cola.Any company can come up with a unique brand name, design an eye-catching logo, and come up with a genius tagline. However, all that will be for nothing if the business is unable to create meaning or perception in the minds of the customers.[cp_modal id=cp_id_75506] [/cp_modal]QUICK OVERVIEW ON BRAND PERCEPTIONHere is a dose of reality: management may think that their product is the best in the market. The public, however, may think differently. This is because they are from different ends of the spectrum. Now it is up to them to make sure that their assurance about their product will align with the public’s perception of their product, and of their brand, as a whole. The business can argue all it wants about how the public is wrong, but in business, public perception is a reality. Unless the business is able to change the negative perception of the public of their brand, it will not be able to improve how the brand is seen or perceived, and the business will not be able to move forward.Brand perception does not develop overnight. It is a result of various experiences, such as:Advertising or marketingPrevious experience of the customer with the brandInteractions with the sales force, customer service and support, and other employees of the com pany that owns the brandReviews from trusted sourcesWord of mouth or recommendation by personal acquaintancesThree Layers of Brand PerceptionDerrick Daye, the author, and a senior brand strategist at the consultancy firm The Blake Project, said that brand perception or meaning has three main layers.Cultural meaning: This is the first layer that consumers see and respond to whenever they see a brand. It is that aspect that is easily influenced by popular or local culture. Thus, it is not rare to see brands make use of celebrities to leverage popular culture, or specific representations to leverage local culture. Examples would be the Molson beer in Canada and Subway in the United States.Community meaning: In this context, “community” refers to any group of associated people, or people that share something in common. It could be a hobby, an interest, or a common cause. Harley Davidson, Apple, and Patagonia have been cited as brands that have the ability to attract entire communiti es.Individual meaning: This looks into the person himself. Does the brand make enough of a difference to convince a user to spend money on it? In the end, this is what marketers aspire for, so they must first pierce through the first two layers â€" influence the cultural and community meanings â€" in order to be able to eventually influence the personal or individual meaning. From there, marketers may also be able to change how an individual perceives a brand.STRATEGIES FOR CHANGING BRAND PERCEPTIONWhen a company notices that their brand is no longer making as much money as before, they normally become resistant towards making some changes. But when they do, the first thing they look into is the possibility of changing the advertising agency they used to work with, or giving their logo a facelift. Or they could throw more money on a new advertising campaign that, sadly, may or may not work.There are many strategies that can be employed in order to change brand perception. Before you can change anything, however, you must first gain a clear picture on the perception of your brand.How does the public perceive your brand? (ACTUAL)How do you want the public to perceive your brand? (IDEAL)Once these two questions are answered and you see significant differences, it’s time to take action and come up with ways in order to make them correlate.Perform an internal checkThis entails looking within the organization. Is there something you can change that will enable the business to deliver the promise of their brand to their customers? Is the customer service and support no longer performing well? Did the management suddenly change objectives and it is no longer aligned with that of the brand?There have been times in the past when brand suffered due to poor management, and the restructuring or change of leadership in the companies have proven to be enough of a nudge to make the public or the customers change their attitude towards the company and the brand.Make your bra nd socialTV and print advertising are still reliable tools, but they are no longer only â€" or the best â€" options available. These days, all businesses are now cognizant of the power of social media and the wonders that social forms of brand publicity can do for them. Advertising or establishing online presence in social sites is definitely highly recommended, even to startups. Users of these sites are seven times more likely to spend or purchase a product or service if they see the brand on these social sites.Studies show that social media is responsible for the largest shift in brand perception. Take advantage of this trend and make sure your brand is visible in social media sites, such as Facebook, Twitter, Pinterest, and Instagram, to name a few.Pay attention to your product or service experienceBusinesses pour so much of their resources towards their marketing campaigns and strategies, but they fail to improve their products or services. This is one thing that is often overlo oked even by the most seasoned marketers. It is often said that marketing strategies can make or break brand perception. That is true, yes, but that is not all there is to it. They often forget that the product or the service experience itself can also create or destroy brand perception.What does this mean? A business may have the best marketers in town, and they have excellent marketing strategies in place. In fact, their marketing communication is impeccable, and can easily reach and influence the customers. However, if the product is of poor quality, or the service was delivered in a less-than-satisfactory manner, the customers are still going to have their perceptions undergo a shift or change.Therefore, never lose sight of your product or service development. Continue to look for ways to improve your offering. When we say “product or service experience”, we are not only referring to the quality of the product or service, but also the various aspects that make up the whole e xperience. You also have to rethink and reconsider the following:Product features. These include the specifications, functions, styling, and even the packaging of the product. Find ways to improve them.Pricing. Monitor your pricing. Do your customers still find your pricing competitive? Reasonable?Distribution strategy. Think of ways to improve the delivery of your products and services to your customers.Customization. Will you be able to customize your products or services for your customers? Consider bundling or unbundling of products and services.Customer service and support. How well does your company handle complaints and other customer concerns?Focus on key playersBrand perception is influenced by word of mouth, recommendations, and reviews. You can start by focusing on key players, or the individuals and entities that have enough power to change the public opinion.For example, a brand of athletic shoes has been getting flak for being associated with illegal labor practices, r esulting to negative brand perception. The company addressed this by signing up a world-famous athlete, who also happens to be considered from a minority group, to endorse the brand.Here are other examples: restaurants enlist the help of food bloggers and food critiques to improve their image. A food manufacturer forms a partnership with a health guru to incorporate their products in his diet or food plan.Be flexible and always stay on your toesAlways keep in mind that branding is a continuous, ongoing, process, and brand perceptions can evolve over time. Just because you were able to create an excellent brand perception among your customers does not mean you should be complacent. Continuous monitoring is still required so you will remain in touch with your customers and how they perceive your brand.Conduct regular or periodic surveys to existing customers regarding their current brand perceptions. Use questionnaires and/or feedback forms.Keeping in touch with customers through soci al media channels.Research what new customers need or are looking for.Anticipate the shifts or changes by analyzing their behaviors. This will make you more prepared to deal with the effects of these changes in brand perceptions. Also, be quick on your feet. As soon as negative perceptions arise, act on them. Letting them slide, hoping that they will soon pass anyway, may be counter-productive.These strategies apply when the company decides to continue investing on the existing brand. There is one other option, which is considered as the last resort when studies by the business reveal that the market segment being tapped into by the brand no longer has a future.This option entails inventing a new brand altogether. Sure, it means you would have to go back to square one and start from scratch. But many businesses may deem it easier to create a new brand than to attempt to change existing perceptions. This can be seen as a fresh start for the company.Changing brand perception is not an easy process. It is not cheap, either. The company has to have more than enough dedication, determination and commitment to make it happen, not to mention a lot of other resources like time and money. However, the rewards are always worthwhile once the company is able to push through.

Gravimetric Analysis Definition

Gravimetric analysis is a collection of  quantitative analysis laboratory techniques  based on the measurement of an analytes mass. One example of a  gravimetric analysis technique  can be used to determine the amount of an ion in a solution by dissolving a known amount of a compound containing the ion in a solvent to separate the ion from its compound. The ion is then precipitated or evaporated out of solution and weighed. This form of gravimetric analysis is called precipitation gravimetry. Another form of gravimetric analysis is volatization gravimetry. In this technique, compounds in a mixture are separated by heating them to chemically decompose the specimen. Volatile compounds are vaporized and lost (or collected), leading to a measurable reduction on the mass of the solid or liquid sample. Precipitation Gravimetric Analysis Example In order for gravimetric analysis to be useful, certain conditions must be met: The ion of interest must fully precipitate from solution.The precipitate must be a pure compound.It must be possible to filter the precipitate. Of course, there is error in such an analysis! Perhaps not all of the ion will precipitate. They may be impurities collected during filtration. Some sample may be lost during the filtration process, either because it passes through the filter or else is not recovered from the filtration medium. As an example, silver, lead, or mercury may be used to determine chlorine because these metals for insoluble chloride. Sodium, on the other hand, forms a chloride that dissolves in water rather than precipitates. Steps of Gravimetric Analysis Careful measurements are necessary for this type of analysis. Its important to drive away any water that may be attracted to a compound. Place an unknown in a weigh bottle that has its lid cracked open. Dry the bottle and sample in an oven to remove water. Cool the sample in a desiccator.Indirectly weigh a mass of the unknown in a beaker.Dissolve the unknown to produce a solution.Add a precipitating agent to the solution. You may wish to heat the solution, as this increases the particle size of the precipitate, reducing loss during filtration. Heating the solution is called digestion.Use vacuum filtration to filter the solution.Dry and weigh the collected precipitate.Use stoichiometry based on the balanced chemical equation to find the mass of the ion of interest. Determine the mass percent of the analyte by dividing the mass of analyte by mass of unknown. For example, using silver to find an unknown chloride, a calculation might be: Mass of dry unknown chloride: 0.0984Mass of AgCl precipitate: 0.2290 Since one mole of AgCl contains one mole of Cl- ions: (0.2290 g AgCl)/(143.323 g/mol) 1.598 x 10-3 mol AgCl(1.598 x 10-3)x(35.453 g/mol Cl) 0.0566 g Cl (0.566 g Cl)/(0.0984 g sample) x 100% 57.57% Cl in unknown sample Note lead would have been another option for the analysis. However, if lead had been used, the calculation would have needed to account for the fact one mole of PbCl2 contains two moles of chloride. Also note, error would have been greater using lead because lead is not completely insoluble. A small quantity of chloride would have remained in solution instead of precipitating.

How an Understanding of Human Growth and Development Can...

I. Introduction A. In my essay will explain how an understanding of human growth and development can assist the counsellor in responding to the needs of the client. I have chosen three theories in three different models. My first model is psychodynamic and I will look at Sigmund frauds theory of development. The second model is humanistic and I will be covering Rogers and Maslow. My last model I will cover in this essay is social Erikson’s lifespan development theory. My essay will look at the theories and the application of each theory and I shall explain how an understanding of human growth and development can assist the counsellor in responding to the needs of the client. II.†¦show more content†¦12-18 is the genital stage. Young adults develop interests in the opposite sex, like previously in the phallic stage. the body is changing in terms of the growing of pubic hair growing, periods, in young males semen being produced .because of social restrictions adolescents shift their sexual energies to other forms of interaction such as sport, friendships and career mapping(Gerald Corey). If this stage is not managed with positivity and acceptance then personality disorders can take place. And the last stage is 18-35 the genital continued. The genital sage is the longest stage and continues to 60 +.becoming and being an adult .freedom to do as you please, love who you want, work where you want no parental restriction, a person has now become an adult (Gerald Corey). Responsibilities are taken, intimate relationships are formed and the capacity to want to understand others is formed (Gerald coyer).if the stages were inadequate, not positive then there can be problems, fraud calls these problems fixations. As noted earlier there are 5 stages, oral, anal, phallic, latency and genital. Successful completion of stages determines how the next stage is managed. An example would be a caregiver did not meet the needs of a child in the oral stage, in terms of the giving of food (breastfeeding). The child may later develop trust issues, personality disorders due to the wanting feeling, the pleasure principle of the id has an impact because theShow MoreRelatedRoles and Functions of the Guidance Counsellor1482 Words   |  6 PagesROLES AND FUNCTIONS OF THE GUIDANCE COUNSELLOR Guidance Counsellors are professionals who work in and out of the school system. Outside of the school system these professionals focus and interest is more on counselling and as a result are called counsellors. Guidance Counsellors form a part of the helping profession. 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Analysis or Current Ethical Dilemma in Health Care Free Essays

There are many types of ethical dilemmas that plague the medical field but never is a dilemma more important than when dealing with life and death. In situations such as these, one must follow their own moral compass. When the case involves an entire hospital going against their religious mandates for the life of a woman, the decision becomes that much more difficult. We will write a custom essay sample on Analysis or Current Ethical Dilemma in Health Care or any similar topic only for you Order Now This paper will analyze the situation one Phoenix hospital found themselves in and the repercussions it suffered because of it decision. St. Joseph’s Hospital and Medical Center in Phoenix, Arizona is a hospital internationally recognized for their neurology department. They have treated high profile patients such as Brett Michaels and Muhammad Ali, but neither has gained the hospital quite the publicity as a woman seeking treatment in November 2009. Alongside neurology, St. Joseph’s Hospital also has a noted obstetrics department and this is where the woman was treated. In late November 2009, a terminally ill woman came to the obstetrics unit suffering from pulmonary hypertension. She was 11 weeks pregnant. During the course of diagnosis, it was found that the pregnancy was exacerbating her illness by worsening her hypertension to the point of placing the patient in immediate danger of death. Doctors determined the only course of action to save the woman was to abort her pregnancy. With St. Joseph’s being a Catholic hospital, this decision went against their guidelines. The decision was taken before an ethics committee which decided to proceed with the procedure. The rationale for the committee’s choice was that they were seeking specifically â€Å"to save the woman’s life, not to end the pregnancy. (Clancy, 2010, p. 1) As a result of performing the procedure, the hospital was stripped of its Catholic status. The problem identified in this situation can be posed in one question; does the religious affiliation of a hospital have the right to dictate the care of a patient? Had the ethics committee gone the other way and decided not to abort the pregnancy, this would have prohibited the woman’s right to live. One should take into account that the patient sought treatment at a Catholic hospital and she should have been aware of their belief system. However one doesn’t know if the patient came to this specific hospital because of its Catholic mission or whether she had no choice in the matter. In either case, is it not a hospitals first duty to provide the best care possible for their patients? The best care for this patient was to abort her pregnancy but the guidelines of the hospital would rather have seen the patient die trying to save both. My personal values and ethical position in this case lead me to side with the hospital. I have always been a proponent of the pro-life ideal and this instance is no exception. The principles I advocate for the strongest are respect for the patients autonomy and beneficence. Keeping these principles in mind, the patient made an informed decision about her care and the hospital needed to respect that decision. As far as beneficence, the cost to benefit ratio was analyzed and a conclusion was reached that benefited the patient most. Utilitarianism is a theory I would apply to this case. Doing the greatest good for the greatest amount of people and saving those you can save. Sometimes the end does justify the means. This not to say that religion plays no part in treating patients, but it is my firm belief that if the Catholic guidelines had prohibited the patient to receive the abortion, two lives would have been lost. When making a serious choice in a case like this, it is important to factor in alternate resolutions. The first alternate resolution is the most obvious and would have had the highest priority; transfer the patient to a facility that has no abortion restrictions. This would have been the best case scenario; however the patient was not stable enough to be relocated and may have died in transit. Another alternate decision would have been to attempt to wait out the patient’s condition and treat her medically. Do to patient confidentiality, the specifics of the patient’s condition are not known. Based on the testimony of doctors at St. Joseph’s, the woman was in critical condition and had this approach been followed, the consequences would have been fatal to both mother and child. This information makes medical management the lowest in alternative priority. When faced with difficult ethical dilemmas, it is best to have a plan of action to assist in decision-making. A step by step approach often works best because it allows the decider to breakdown a stressful choice into workable parts. First one must identify the problem and ask the appropriate questions: What? Who? How? The second step is to identify one’s own personal values toward the dilemma. The third, fourth and fifth steps include coming up with reasonable alternative, examining them and then predicting the possible outcomes of those decisions. In the sixth step, one should prioritize the alternative choices to better identify the most acceptable one. The seventh step is where the final decision is made based on all the information gathered and a plan is created. The plan is then implemented in the eighth step. The final ninth step is when one evaluates the end result and determines if the decision made was the right thing. In evaluation of this particular ethical dilemma, the right thing was done. The decision to forsake the values of Catholicism to save the woman’s life was the right thing to do. The hospital agrees and therefore lost its Catholic status because they stated that they would have made the same choice again. (Kurtz, 2010) Dealing with ethics can be a tricky thing to navigate which is why it is paramount to have a good sense of one’s own moral compass. This is not the last dilemma this hospital will face but following solid ethical values and principles, they should feel confident in their ability to provide the best care to the patients they treat. How to cite Analysis or Current Ethical Dilemma in Health Care, Papers

Shapiro Chapter Solutions Essay Example

Shapiro Chapter Solutions Paper Economic profit measures true increments to value, but is hard to assure. Accounting profit is correlated with economic profit, but not perfectly so. Accounting profit can be measured much more easily. B. What is the relationship between accounting rate of return and economic rate of return? Answer: The accounting rate of return is the ratio of after-tax profit to average book investment. Economic rate of return is the ratio of after-tax economic profit to the market value of the investment Economic profit equals cash accruals to the asset combined with changes in its market value. 2. In 1991, ATT laid a transatlantic fiber optic cable costing $400 million that an handle 80,000 calls simultaneously. What is the payback on this investment if ATT uses just half its capacity while netting one cent per minute on calls? Answer: 5210 Million per year assuming the half capacity is for 24 hours a day, 365 days per year. The annual payback is then 53%. 3. The satisfied owner off new $15,000 car can be expected to buy another ten cars from the same company over the next 30 years (an average of one every three years) at an average price of $15,000 (ignore the effects of inflation). We will write a custom essay sample on Shapiro Chapter Solutions specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Shapiro Chapter Solutions specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Shapiro Chapter Solutions specifically for you FOR ONLY $16.38 $13.9/page Hire Writer If the net profit margin on these cars is 20 percent, how much should an auto manufacturer be willing to spend to keep its customers satisfied? Assume a 9 percent discount rate. Answer: At a 20 percent profit margin, the auto company will earn an annuity to about $3,000 every three years for the next 30 years. Discounted at 9 percent, this annuity is worth $9,402, assuming that the tires new car is purchased three years from today. Hence, an investment to keep customers satisfied will have a positive NAP as long as the amount spent is less than $9,402. Thus, a car company should be willing to spend LIP to $9,402 in present value terms to keep its customers satisfied. A trick is available to calculate the present value of this annuity)h Recognize that an annuity received every three years for 30 years and discounted at 9 percent is equivalent to a 10-year annuity discounted at 29. 5029 percent since each cash flow term is discounted at (I . 09)3 = 1295029. 4. Demonstrate that the following project has internal rates of return of O percent, 100 percent, and 200 percent. Year $1,200 12 13 I Cash flow +7,200 1-13,200 Answer: To demonstrate that an AIR calculation is valid, compute the net present value at the AIR. A valid AIR yields O. I Year | -400. 00 -488. 89 | +88. 9 10 Cash Flow 112 1 13 1 14 I I Total 1-1,200 I-I ,200 | -600 1-1,650 +450 5. During 1990, DOD Chemical generated the following returns on investment in its different business units: Business unit 116. 6 16. 7 Return on Investment (h) I Chemicals/Performance Products I I Consumer Specialties Plastics 12. 7 I Hydrocarbons/Energy Other 111. 15. 2 11. 6 I I DOD Chemical overall Given these returns, which of the business units should DOD invest additional capital in? What additional information would you need in order to make that decision? Answer: These figures tell you what DOD earned in 1990. In order to decide on future investments, you need the following information: 1. Whether these returns are representative of those expected to be earned in the future in these different divisions, What matters for investment decommissioning are projected future returns, not past returns. To the extent that these returns vary widely from year to year-?which they do in the chemical business-?historical return data for one year are meaningless. One reason these data may be misleading is that they are based on historical cost figures for investment. You really want to calculate returns on the replacement cost of sets Inflation will cause asset values to be understated, which will lead the return on investment to be overstated. 2. The cost of capital for these divisions. Each division is likely to have its own risk and, hence, its own cost Of capital. A high return could just indicate a high degree of risk and, therefore, a high required return. What matters is the projected return relative to the cost Of capital. A high projected return that is less than the risk-adjusted cost of capital will yield a negative NAP investment. Conversely, a low projected return that exceeds the cost Of capital Will yield a costive NAP investment. 3. The marginal return on investment in each division. Even if the figures for, say, the plastics and chemical/performance products divisions exceed their cost of capital and are representative of those expected to be earned in the future, that does not automatically justify additional investment in those divisions. These figures tell us the average ROI; for investment purposes you need the marginal ROI. That is, what matters tort investment purposes is not the return on past investments but the return on future investments. As we have seen, many companies (e. G. Monsanto, Philip Morris) have divisions that yield high returns on past investments but very low returns on incremental investments. 4, The extent to which these divisions sell to one another, DOD Chemical is a vertically-integrated company. Its hydrocarbons/energy unit sells to its downstream plastics unit, which in turn sells to its consumer specialties unit. Thus, the profitability of these units depends critically on the prices at which these internal transactions take place. Gore example, the hydrocarbons/energy unit may be showing a low ROI simply because it sells petroleum to the plastics unit at 3 below-market price. That is, the hydrocarbons unit may be very profitable but its profits are showing up in the plastics unit in the form of a low price on raw materials. This is a form Of cross-subordination. Disentangling the true profitability of the different units of a vertically-integrated company like DOD turns out to be a very difficult task, but it is a necessary one for capital budgeting purposes. What matters is how profitable investments are from the standpoint of the overall company, not from the standpoint of the units undertaking those investments, 5, The returns associated with specific assets and activities within each vision. What matters from an investment standpoint is not just how well each division can be expected to do in the future but hove well specific projects within each division can be expected to do. For example, certain products within the profitable plastics division may be earning a return while others are only earning a 2% return. Similarly, certain investments may be expected to yield a high return relative to their rockiness, whereas others have little chance of a significant payoff. At the same time, the low-return hydrocarbons/newer division may have some very high-return projects, which are masked by a lot of value- storing activities elsewhere. Without detailed data on the returns associated with each divisions various activities, customers, and products, one cant say where investment dollars would be best spent. CHAPTER 2: PROBLEMS 1. A firm is considering investing in a project with the following cash flows: I cash Flows 1 15 1 16 117 1 18 II I-I sass. O 2,000. 00 | 3,000. 00 4,000. 00 | 3,500. 00 13,000. 00 1 ,oho. O | 1,818. 18 12,479. 4 13,005. 26 12,390. 55 11,862. 76 11,128. 95 1513. 16 1466. 51 1,818. 18 4,297. 52 17,302. 78 9,693. 33 Ill 12,685. 04 | 13,664. 70 2. The pennon Oil Co. Just decide whether it is financially feasible to open an oil well off the coast of China. The drilling and rigging cost for the well is The well is expected to yield 585,000 barrels of oil a year at a net profit to pennon of $5 a barrel for four years. The well will then be effectively depleted but must be capped and secured at a cost of Pennon requires an annual rate of return of 14 percent on its investment projects. Should Pennon open the well? (Assume all Of a years production occurs at the end Of the year. ) Answer: Net annual profit = = $2. MM. IV(Production) $2_MM _ 2. MM _ 2. 9137 = 58. MM. IV(Capping) = SO. MOM _ = 4 _ 0. 5921 = $2. MM. IV(Drilling) 55. MM. NAP = IV(Production) ? IV'(Capping) = 9. MM 2. MM 5. MM $1. MM. The well should be drilled, since the present value of the benefits exceeds the present value of the costs, The term NAP (Net Present Value) refers precisely to the difference in present value between the benefits and the costs of a project, 3. Jack Nicolas, the golfing pro and real estate developer, is thinking Of acquiring an 800-acre property outside Atlanta that he intends to turn into an exclusive community for 600 families, The cost of this property and the necessary improvements is $30 million. After setting aside a mandatory 25 percent of the property as green space, he figures he can sell the remaining lots for an average of $90,000 an acre. By putting in a golf course on the 200 acres of green space, Nicolas believes he can instead sell the lots for an average of $140,000 an acre. The golf course, including clubhouse, has a projected price tag of $6 million. In either event, the project is expected to take eight years to sell out at a rate of 75 lots per year. Jack Nicolas faces a marginal tax rate of 40 percent and can write off his land and development costs by prorating these costs against each lot old. A. If his required return is 14 percent, should Jack Nicolas go ahead with the initial project (i. E a community With no golf course)? Answer: The initial project, a community With no golf course, requires an initial outlay of $MM, and reaps 6. MM per year for 8 years in the absence of taxes and depreciation. The present value of the decision at r 14% and t -40% can be determined from the following formula: b. Should he put in the golf course? Answer: With the golf course, the cost is MM, and pretax revenues are 10. MM per year. The same calculations as above can be made with the new data: NAP = + (1 -? Nicolas should build the golf course (exactly as we exp ected), a b, * An alternate display is illustrative: Tax ( @ 40%) Choosing Only Twit Golf Course I Annual Sales I Ann. Amortization I I Ann. Pretax Profit I I Ann. After Profit 4. 638864 I cost I Present Value 37,574. 798 .NET Present Value 4. The Coin Coalition is trying to get the U. S. Government to replace the dollar bill with a gold-colored dollar coin. One argument is cost savings. A dollar bill costs 2. 6 cents to produce and lasts only about 17 months, A dollar coin, on the other hand, while costing 6 cents to produce, lasts for 30 years. About 1. 8 billion dollar bills must be replaced each year, The start-up costs of switching to a dollar coin are likely to be quite high, however. These costs have not been estimated. A. What are the projected average annual cost savings associated with switching from the dollar bill to a dollar coin? Answer: Since each dollar bill in circulation lasts an average of I . 42 years (17/1 2), and 1. 8 billion are replaced each year, this must mean that there are about 2. 556 billion dollar bills in circulation. The cost of replacing I billion dollar bills each year at a cost per bill of 2. 5 cents is $46. Million. Since the dollar coin lasts 30 years, only about 85. 2 million (2. 556 billion/30) coins must be replaced each year at an annual cost of $5. 1 million. Thus, the annual cost savings comes to approximately $41. 7 million. B. Taking into account only the cost savings estimated in part a, how high can the start-up costs for this replacement project be and still yield a positive NAP for the LIST. Government? Else an 8 percent discount rate. Answer: The present value of the cost savings perpetuity estimated in part a, discounted at 8 percent, is $41 or $521. 25 million. Hence, the start- p costs for replacing the dollar bill with a dollar coin can be as high as $521. 25 million in present value terms and this project will still yield a positive net present value. . Recent Census Bureau data show that the average income to a college- educated person was $34,391 versus ASS,CLC for those without college. At the same time, the annual tuition at public universities was $1,566 versus $7,693 for private colleges. In the following questions, assume there is no difference in income between public and private university graduates. A. Based on thes e figures, what is the payback period for a college education, akin into account the four years of lost earnings while being in college? Do these calculations for both public and private colleges. Answer: Based on the figures presented, the lost income during four years of college is 4 * 524,701 = 598,804 (if they dont go to college they earn Nan-college incomes). The cost of the four years of college at a public (private) university is 56,264 ($30,772). Combining these figures yields a total (undiscovered) cost for a public university of $105,068. For a private college. This cost comes to $129,576. The income advantage to a college education is 59,690 (534,391 . $24,701). From radiation, it takes 105,068/3,690 = 10. 4 years to recover the cost of a public university education. The equivalent figure for a private college is 129,576/9,690 13. 37 years. B. Assuming college graduation at age 22 and retirement at age 65, what is the internal rate of return on a college degree from a public university? A private university? Answer: For a public university, the cash flows are four years of annual net cash outflows equal to $26,267 ($1 ,566 + $24,701) and then 43 years of net cash in flows equal to $9,690 annually, Whether all these cash flows occur at the beginning or end of the year, the AIR equals 7. Percent (the timing of the cash flows doesnt matter because you are just multiplying the NAP-?which must equal zero-?by a constant). Poor a private university, the cash flows are four years of annual net cash outflows equal to $32,394 ($7,693 + $24, 701) and then 43 years of net cash inflows equal to 59,690 annually. The AIR based on these numbers is 6. 32 percent. C. Assuming a 7 percent discount rate, and the same working life as in part b, what is the net present value of a college degree from a public university? A private university? Answer: Assuming all cash flows occur at the end Of the year (here the timing goes matter), the NAP for a public university education is $10,878. For a private college, the WV is . $9,876. 6. The Fun Foods Corporation must decide on what new product lines to introduce next year, After-tax cash flows are listed below along with initial investments. The firms cost of capital is 12 percent and its target accounting rate of return is 20 percent, Assume straight-line depreciation and an asset life of five years. The corporate tax rate is 35 percent. All projects are independent. I Project | $1,250 | 1,200 I Yearly I Investment $3,000 I s,coo 11,200 | 55,000 12,400 $800 17,500 ,000 $1,000 1,250 4,000 14 | 5350 | 600 a. Calculate the accounting rate of return on the project. Which projects are acceptable according to this criterion? (Note: Assume net income is equal to after-tax cash flow less depreciation. ) I Project A Total AT Cash Flow I Total Depreciation I Net Income Avgas Net Income | 5400 shoo 11400 1280 Project B 116750 7500 9250 Project C 18400 14000 | 4400 1880 Cacti Rate of return (Average Net Income Average Book NV) ABA = Total depreciation/2. I 49. % Projects 8 and C are acceptable based on a 20% accounting rate of return. B. Calculate the payback period. All projects with a payback of fewer than four years are acceptable. Which are acceptable according to this criterion? Answer: Assuming depreciation effects are included in the cash flows: Payback A (years) 4. 53, Payback B Payback C 3,42_ Projects B and C are acceptable. Assuming depreciation h as not been included: Payback A (years) = 4. 06, Payback B = 2. 73, Payback C = 3. 06. Projects B and C are c. Calculate the projects Naps. Which are acceptable according to this criterion? Answer: NAP IV(After Tax Cash Flows) -? Initial Investment Assuming depreciation has already been incorporated: NAP A?$742. 2, NIB- 33801. 83, C 51574. 01. Projects B and C are acceptable. If depreciation has not been incorporated, and all writers Gang be used: NAP = IV(After Tax Cash Flows)-? Nit NV IV(Deep Tax Shield) NAP A- $518. 95, NAP B = ASSESS,34, NAP C = $2583. 34, All projects are acceptable. D. Calculate the projects IR, Which are acceptable according to this Answer: AIR is the discount rate that makes NAP = 0. Depreciation included: AURA= 7. 0%, AIR 27. %, Projects B and C are acceptable. (AIR > 12%) Depreciation not included: AURA= 15. 43%, All projects are acceptable. (AIR > 12%) e. Which projects should be chosen? Answer: The firm should follow the guidelines of the NAP rule. 7. Aptest, Inc. , is negotiating with the U. S. Department of Housing and urban Development (HUT) to open a manufacturing plant in South Central L. A. , the scene of much of the rioting in April 1992. The proposed plant will cost $3. 5 million and is projected to generate annual after-tax profits of $550,000 million over its estimated tour-year elite. Depreciation is straight-line over the tour-year period and Aptest;s tax rate is 35 percent, However, given the risks involved, Aptest is looking for a tax-exempt government subsidy. According to Aptest, the subsidy Just be able to achieve any of the following four objectives: (l) Provide a 2-year payback. (2) Provide an accounting rate of return of 35 percent. (3) Raise the plants AIR to 22 percent. (4) Provide an NAP of $1 million when cash flows are discounted at 18 percent. A. Poor each alternative suggested by Aptest, develop a subsidy plan that minimizes the costs to HUT of achieving Pates objective. You can schedule the subsidy payments at any time over the four-year period. Answer. Here are the alternatives With their costs: Payback. The annual cash flow,s are the sum of after-tax profits plus depreciation of $306,250 or $856,250. The sum of the first two years cash flows is $1 , 712,500. To bring the payback to two years will require a subsidy of $1 ; $1 Since the computation of payback is insensitive to when the subsidy is paid, as long as it happens within the two-year period, the present value of its cost can be minimized by providing it at the end of year 2. AIR. The accounting rate of return is 31. 43% In order to bring this up to 35%, it is necessary to bring average annual income up to $612,500 , 750,000), an average annual increase of 62,500. The subsidy will equal $250,000 Since the computation of AIR is insensitive to when the busily is received, its present value can be minimized by providing it at the end of the four years. AIR. With a subsidy of at time O, thereby lowering its net investment to Aptest will get its AIR up to 22%. Any delay will result in a correspondingly higher required subsidy (it will accrue at the rate of 22% annually. Or example, if the subsidy were to be provided at the end Of the first year, it would have to equal $1 ? 1. 22) to get Aptest AIR up to 22%. Hence, HELD Will minimize its costs Of getting Pates AIR up to 22% by providing the subsidy immediately instead of waiting. NAP. The NAP of the project, discounted at 18%, is (1,196,635). Hence, a subsidy equal to $1 , 196,635 that is paid up front will just pr ovide a zero NAP when discounted at 18%. The subsidy will rise at the rate of 18% annually if it is paid in a future year. B. Which of the four subsidy plans would you recommend to HUT if it uses a 15 percent discount rate? Answer. The winning subsidy plan is that associated with the AIR criterion, go paying $250,000 at the end of the tour-year period, the present value of Huts cost when discounted at will be $142,938. 8. The Fast Food chain is trying to introduce its new Hot and Spicy line of ambushers. One plan (S) will include a big media campaign but less in-house production capability. The other plan (L) will concentrate on a more gradual roll- out of the project but will involve more investment in personnel training and so forth.