The relative valuation model Essay Example

The relative valuation model Essay The purpose of this report is to undertake a firm valuation for Woolworths, using discounted cash flow model and the relative valuation model. This report provides information obtained through a conduct of Free Cash Flow to Firm Discount Valuation Model for Woolworths Limited (WOW), estimating the firm’s current share value. The report will then identify 3 key drivers of the firm’s value in this model; tests are performed in the report to identify the sensitivity of share value in the model to changes in specific variables. In the second section of this report, companies, with similar beta and Earnings per Share Growth as Woolworths’, are analysed and compared, using Relative Valuation as another valuation method to estimate the WOW’s current value. Finally, this report will conduct a regression analysis to justify the result achieved in the Relative Valuation. About Woolworths Woolworths Limited is the largest food retailer in Australia with principal operations in supermarkets within Australia and in New Zealand. WOW and its main rival, COLES Supermarket, take up around 79% of the total grocery market. WOW also has other operations, which include liquor, petrol, general merchandise and consumer electronics. Woolworths has a market capitalisation of $29,927 million, its shares are currently trading at $24. 63 per share. (Market Cap and share price are acquired from FinAnalysis on 16 September 2011) Discounted Cash Flow Valuation Model (DCF) Discounted Cash Flow Valuation Model is used to evaluate the potential for investment by discounting back the firm’s future free cash flows. The DCF model used in this report is Free Cash Flow to Equity Valuation Model (FCFE). We will write a custom essay sample on The relative valuation model specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on The relative valuation model specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on The relative valuation model specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Risk free rate: 3. 64%. The Australia 3-Year Government Bond yield on 16 September 2011 is used as a proxy for the risk free rate for this valuation. Firstly, Australia has SP highest credit rating of AAA, also a Fitch credit rating of AA+. These ratings denote expectations of Australia having very low to lowest default risk, very strong to exceptionally strong capacity for payment of financial commitments, where this capacity is not significantly to highly unlikely vulnerable to foreseeable events. Secondly, using Australian-dollar-denoted rate is an easier approach than using USD-denoted rate, where assumptions, for such as exchange rates, may deviate the valuation result from the true value. Thus, we believe that this is a comparable figure to represent the return demanded from a theoretically absolute risk-free investment over this valuation period. Levered Beta: 0. 71 throughout the 3-year high growth period. This is found on FinAnalysis on 16 September 2011. It was calculated by adjusting the industry’s beta based on WOW’s financial leverage. For stable growth period, ? =0. 8 is chosen, as WOW’s beta will approach to one when the firm is approaching to stable stage, which acknowledges the increased stability of WOW by the end of the high growth period. Price sensitivity to change in stable growth rate, 1st key driver of the firm value: One of the key drivers of the firm value is the assumption for the stable growth rate. In our initial valuation, we assume that the firm’s stable growth rate will be approaching to Australian GDP growth rate as the firm achieves stability. As presented, the estimated share value of WOW will increase as the stable growth rate increases. Price sensitivity to change in cost of equity during stable growth stage, 2nd key driver of the firm value: Another key driver of the value in the process of valuation is the cost of equity during stable growth stage. We initially assumed that the cost of equity will be 7. 64% as the beta of the firm will move towards one when the firm approaches stability. The estimated share price of the firm will decrease as the cost of equity during stable growth increases. Price sensitivity to change in length of high growth, 3rd key driver of the firm value: In the last scenario, the assumption of length of high growth period has changed from the initial 3 years to 5 years. This could happen due to the recent financial breakdown, which would significantly slow down the growth of the firm. Should 5-year high growth be used, Australian 5-Year Government Bond rate of 3. 81% is chosen as the risk free rate for the model, as a result of which, the Cost of Equity during high growth and stable growth stages will change as presented below. Other factors stay constant, the estimated share price of WOW will be $26. 80, under which circumstances, the firm is undervalued given the current share price is $24. 63 on 16 September 2011. PS ratio is believed to be uniformly measured as all financial figures for the comparable firms are obtained from the current financial year at FinAnalysis. As these comparable firms are from different markets that have different accounting rules, Price to Sales (PS) ratio is chosen as the multiple to evaluate these comparable firms. Besides that, a similar financial leverage across these comparable firms gives us more of the reason to use PS ratio as the multiple.

Facts of Prayer in School essays

Facts of Prayer in School essays According to the First Amendment of the Constitution, Congress shall make no law respecting an establishment of religion or prohibiting the free exercise there of...(Patterson A-11). The writers of the constitution made it an important point in protecting freedom of religion. The writers then even stressed the importance of being able to be any religion that suited a person. The First Amendment removes government from the realm of religious belief and practice so that the state can neither subvert nor manipulate religion to serve secular, public ends(Keynes and Miller 177). It is pure ignorance for someone to think that one religion is accepted throughout the world. This very reason is why prayer should not be in school. When saying a prayer in an organized group at school, it is impossible to not discriminate against a persons religion. Allowing prayer in school is like losing a precious jewel that can never be found again. Prayer in school results in students losing their r ights, losing their sense of unity, and losing their strong beliefs of their faith. These are all things that once lost are difficult to find again. Students lose their religious rights when prayer is introduced in public schools. Many people dont understand the complexity of this issue and that it is not just about taking God out of school. As U.S. citizens, the First Amendment gives the freedom to believe in what people choose to believe in without being punished for their belief. The First Amendment was proposed to keep such occurrences such as prayer in school from happening. The Supreme Court has declared that the states can either compose a prayer or require school children to recite passages from the Bible or the Lords Prayer during the regular school day. Why should a Jewish child feel uncomfortable and humiliated in a school environment because of prayer? On June 20, 2000 the Supreme Court r...

Analysing The Emerging Democracy Of South Africa Politics Essay

Analysing The Emerging Democracy Of South Africa Politics Essay South Africa is a young democracy that has begun making serious attempts to bring the nation together and create national equality among the people. First to understand what a democracy is it needs to be defined. William Hay Anthony defines democracy as â€Å"liberal representative government under law, sustained by a political culture that accepts open disagreement and demands accountability† (Anthony, pg 135). This definition highlights â€Å"the role of institutions in making a political order work† (Anthony, pg 135). Applying this definition to the South African case is important to analyzing its development within being a democratic nation. Civil and political rights are important to a democratic nation because it must maintain rights to all of its citizens equally. South Africa has made huge steps in ensuring equal rights to all of its citizens, though it is quite clear that a lot more could be done. In terms of economic rights and social rights, South Africa has made attempts in making these rights equal for everyone. The democratic role of South African political parties has been a constant one. The African National Congress has been the party in power of the state since its first democratic election in 1994 and it seems like it is getting more and more support as time goes by. Their policies which have been put forth have the same goal of having equality within the state. In the past 16 years, South Africa has made numerous attempts to make its nation more democratic but it is clear that the work that the nation must do to have a complete democracy, is nowhere near finished. Rights have not always been equal to all people of South Africa throughout history, even in the past 20 years. From 1948- 1994, South Africa was under an apartheid, that is, a segregation of blacks and whites in all aspects of society. Under this rule, all races that were identified by the South African Government were divided. At the time, the government recognized four different racial categories: â€Å" African, coloured, Indian and whiteâ€Å" (Lichbach 2009, 466). There were many laws that were put in place to keep the people of the country segregated at all times; the only exclusion to that was if a black African was working for a white one. Some apartheid laws were the â€Å" Group Areas Act, Land Acts, Population Registration Act and Reservation of separate Amenities Actâ€Å" (Lester 1996, 227). During the apartheid, because coloured people could not vote or own property, they were living in extremely poor conditions and kept in certain black only areas. Even when coloured people could own land, the qualifications amount was raised too high for many coloured people to even consider attempting to purchase land. (Maphai 1994, 3). Without the ownership of property, one could not vote. When the first democratic election was held in April of 1994, it marked a new beginning in South Africa; some called it the â€Å"New South Africa†. Mandela was named as president and many apartheid laws were abolished. People were becoming more equal within this country which meant people of all the coloured races were lawfully allowed to integrate with their white counter parts in education, work, property ownership and other rights that were not given to them before. With a new government set in place, citizens were excited to see how their country would change for the better given its new democratic policies that would soon begin to be in effect. What some people don’t fully understand is that many things like becoming a new democracy take time, especially when dealing with a country with a past like that of South Africa. With that being said, even though these wonderful laws were being put into government, they were not exactly being implemented very well. One of the biggest reasons why so many of the country’s people have to live this way is because of the huge inequalities within the country; â€Å" Ine quality is still higher than anywhere else in the worldâ€Å" (Pons-Vignon 2008, 3). Inequality is something that cannot be changed overnight with the passing of different laws; it is something will be an ongoing struggle for the country. Something that is special with the democratic characteristics of South Africa is the fact that the minority of the country has most of the power; white people are the clear minority of the population but they clearly have the most power. In 1980, it was shown that â€Å" whites, who were one sixth of the population, earned two thirds of total income in the countryâ€Å" (Maphai 1994, 137). Because white people have such great power as a whole, it is more difficult for other citizens of the country to rise economically. Since 1994, the only place that whites do not have the most power is in government. The Party that has been in power since the liberalization movement has been the black- led African National Congress or ANC. When it comes to voti ng, which many black people do have a right to now, whites just cannot even compare with the numbers that the Blacks have; in 2001, â€Å"79 percent of the population classified themselves as African, 10 percent as white, 9 percent as Coloured and 2 percent as Asianâ€Å" (Lichbach 2009, 472). The fact that government is led by a black supported party is not unfortunate for most white people. In the early 1990’s, the ANC adopted many policies and went through many negotiations with the National party (NP) to get more support from the white community. With the attempt that the ANC made toward getting support from white people in the country, white people began to see the ANC more like a rival as rather than an enemy. (Maphai 1994, 75) As well, the leaders of the ANC have done a good job in convincing all people, including whites, that their policies will only help to better the country. Unions are also helpful with making a nation more democratic. The ability to have specifi c rights because of employment is a huge factor in having equal rights for people. It was 1979 when African Trade Unions were finally recognized and the Congress of South African Trade Unions was then formed in 1985. (Lichbach 2009, 477) Recognizing unions that were made up of Black workers was essential in implying that they, as workers within the state, deserve no less than that of white workers. Unions allow a group of workers to negotiate with their employers about better wages and working conditions. In the aspect of civil and political rights, South Africa is making a clear progression towards truly having equality within those rights. Democratically, South Africa is making a big progression towards effectively having equal political and civil rights for all of its citizens. Through the coming years there should be more polices out being put into effect and hopefully a better understanding of equality among races. It is only then that the rights that are actually listed within the South African law will have been respected and truly put into practice.

Failure of the Strategic Systems Article Example | Topics and Well Written Essays - 500 words

Failure of the Strategic Systems - Article Example The financial world responded with uncertainty but they were reassured by the Federal Reserve Bank and the European Central Bank as both of them poured billions of dollars into the financial market. However, the crisis continued to grow as defaults occurred and interest rates were not raised to stem the growing credit market (Essen, 2008). Lehman Brothers, JP Morgan, and several other financial institutes were players that were heavily invested in these subprime loans and as their share prices went down, they looked for opportunities for someone to buy them out or for the government to bail them. In September of this year, the government announced that it would have to take over Fannie Mae and Freddie Mac in what is essentially a bailout of these companies (Kaletsky, 2008). The extent of the crisis was thus made clear to anyone who had any doubts about the situation. Even companies such as AIG made mistakes as they traded in derivates while the economic system was going through difficulties. In fact, the impact of the financial crisis has been felt across the world as nations such as India and Australia have started raising alarms concerning the banks operating in their territories which had financial links to the banks and financial institutes which have gone south (Kaletsky, 2008). The White House has responded with another $500 billion bailout package for the financial markets but analysts are still doubtful if it will save a worldwide economic meltdown (Essen, 2008). When examined in its entirety, it is easy to see that the problems were first created as banks decided to enter the subprime mortgage market which is strategically a very weak division. Had the banks been more strategically aware, they could have judged the economic boom to be short-lived and could have also considered the long-term impact.

Ashputtel Essay Example | Topics and Well Written Essays - 750 words

Ashputtel - Essay Example These characters, especially the ones in fairy tales, were made to stir imagination and provide some relief to suffering by their inspirational portrayal of roles and human attributes or emotions that reflected the reality with which people were deeply attached so they could well relate to the human needs. With fictitious yet meaningful story, Ashputtel has since endured to embody a model that everyone can follow to find comfort from state of domestic oppression knowing that as long as one remains humble despite numerous cruelties, there would be blessings in the end. Most of the young people particularly the rural folk girls had admired Ahsputtel while she represents the importance of obeying to parents. Though meekness and innocence are rare and somewhat are unrealistic traits, Ashputtel provides an impression that the rich of the mid-19th century society in Europe were capable of doing good. Her character as a rich motherless girl whose privileges are taken and exploited by the tw o wicked stepsisters and their mother plays a role of ideal kindheartedness. Brothers Grimm might have intentionally made Ashputtel incapable of defending herself out of all the good she does to justify the magic or miraculous gifts which she deserve eventually after all her sufferings. This may sound exaggerating but it worked during the early times to change people’s way of thinking for the better to help them view that the continuing hardships due to absence of justice would make them get a remarkable destiny. The modern world however is too transformed to consider going after the past approach into the present circumstances of people. Even children nowadays are capable of forming independent ways by which to learn and cope with practice of values that are rather revolutionary compared to how a young individual should envision his or her development by following examples shown by Ashputtel. Ashputtel’s moral had certainly taught the 19th century world simplicity and values that were important for building one’s character out of pure politeness during times of inhumanity but this idea needs to be turned into something fit for humans of the 21st century. The original lesson which Cinderella brought to inspire many of different levels of the older society is weak in the sense that an increasingly postmodern situation could not afford to tolerate defenseless behavior in the same way that it would not shield an individual from its harsh realities. A person who acquires Ashputtel’s nature runs the risk of coming out unable to become dynamic and independent. With low self-esteem, such individual is not likely motivated to stay hopeful like Cinderella does and this all the more permits opportunists or the vicious ones to abuse the use of authority and take advantage of the weak for not being able to express themselves properly. If Ashputtel’s lesson were to apply itself to the current way of living, the stepsisters must not have g iven into the bloody cutting of their toes since the new Ashputtel would have managed to help them change hearts from bad to good through the process of fighting for her rights. At this age, people in general should still be served the same encouragement of gaining knowledge in literature as of old days and not be deprived of relishing literary pieces that have

The PESTEL Framework Essay Example for Free

The PESTEL Framework Essay The PESTEL framework examines the six main macro environmental influencing factors of companies: political, economic, social, technological, environmental and legal. These influences determine the future success or failure of the corporate strategies. The political influence include the role of the governments; economics embraces the macro economic factors such as growth rate, exchange rates and business cycles; the social component stands for changing cultures and demographics; technological influences include innovations; environment refers to the â€Å"green† issues including pollution and waste; and legal entails legislative changes and constraints. Gerry(2008) argues that identifying the key drivers for change helps to focus on the important PESTEL factors. Based on those managers can make the optimal decision for effective action. Thus, the key drivers for change determine the success or failure of a strategy. For instance the clothing retailers are concerned about the social changes which drive consumer taste and behaviour. When there is a high uncertainty in the business environment due to complexity or rapid change, it is unlikely to build a single vision of how the environment can affect companies’ strategies.

Abortion :: essays research papers

  Ã‚  Ã‚  Ã‚  Ã‚  Abortion is murder. It is the process in which an undeveloped human being is killed, and unable to live the life it could have lived. Why is it okay for women to kill a human being through abortion and not be punished, when someone else is intentionally killing someone and being sent to life in prison? A fetus is helpless, it cannot scream or run away when an abortion is happening. The person who is supposed to be the protector is the person who made the choice to murder it. Abortion is not the answer. So why do women chose to have them? Abortions happen because women are scared of the responsibilities of caring for a child; they are both financially and mentally unstable. But most importantly abortions happen because women don’t want the baby. Whose fault is it? The women are the mistake. They made the choice to have unprotected sex. Now after they had their fun, they run. They run away from reality. Women run to abortions as means of relief but little do they know their reality is waiting to happen.   Ã‚  Ã‚  Ã‚  Ã‚  According to B.A. Robinson many women who have abortions are under the age of twenty-five, are unmarried or separated from their spouse, and poor. In a study by Torres and Forrest a vast majority of women have abortions because they are financially unstable, they feel that they are incapable of raising a child; they feel that their life would drastically change, and they are too young and immature to raise a child. Why is it that after the child is conceived that women start to realize their own faults? If women were to realize their flaws ahead of time, abortion rates would be much lower, and aborted fetuses might have been given a chance to develop and to live a life. Abortion may seem like the answer to all the problems. But women don’t realize that they are not only killing a human being, but also endangering their own lives.

Save the Earth Essay

Good Morning, today I xxxx am here to talk to you about ‘’The Earth† Let me begin by a famous quote- â€Å" The Earth provides enough to satisfy every man’s needs, but not every man’s greed.† ― Mahatma Gandhi The urgent message is â€Å"Save the Earth†. It’s a message that has been heard before and consistently being spread throughout the world. In this time that I have to talk to you, I want to show to you, how deep a mess we are in, with environmental crisis and how we can get out of it. It warns us about the catastrophic changes in Earth’s ecosystem as the consequence of global warming. Drought, Famine, Severe flooding, Record rainfall, Hurricanes, Tornadoes, Forest Fires, Acid rain: this is the result of being ignorant and not caring for our mother earth. Our planet looks like it’s infected with a disease. We turned this once-vibrant planet into a toxic, treeless, lifeless, and overheated trash site. The urgent message is â€Å"Save the Earth†. It’s a message that has been heard before and consistently being spread throughout the world. In this time that I have to talk to you, I want to show to you, how deep a mess we are in, with environmental crisis and how we can get out of it. It warns us about the catastrophic changes in Earth’s ecosystem as the consequence of global warming. Drought, Famine, Severe flooding, Record rainfall, Hurricanes, Tornadoes, Forest Fires, Acid rain: this is the result of being ignorant and not caring for our mother earth. Our planet looks like it’s infected with a disease. We turned this once-vibrant planet into a toxic, treeless, lifeless, and overheated trash site. Good Morning, today I xxxx am here to talk to you about ‘’The Earth† Let me begin by a famous quote- â€Å" The Earth provides enough to satisfy every man’s needs, but not every man’s greed.† ― Mahatma Gandhi The urgent message is â€Å"Save the Earth†. It’s a message that has been heard before and consistently being spread throughout the world. In this time that I have to talk to you, I want to show to you, how deep a mess we are in, with environmental crisis and how we can get out of it. It warns us about the catastrophic changes in Earth’s ecosystem as the consequence of global warming. Drought, Famine, Severe flooding, Record rainfall, Hurricanes, Tornadoes, Forest Fires, Acid rain: this is the result of being ignorant and not caring for our mother earth. Our planet looks like it’s infected with a disease. We turned this once-vibrant planet into a toxic, treeless, lifeless, and overheated trash site. The urgent message is â€Å"Save the Earth†. It’s a message that has been heard before and consistently being spread throughout the world. In this time that I have to talk to you, I want to show to you, how deep a mess we are in, with environmental crisis and how we can get out of it. It warns us about the catastrophic changes in Earth’s ecosystem as the consequence of global warming. Drought, Famine, Severe flooding, Record rainfall, Hurricanes, Tornadoes, Forest Fires, Acid rain: this is the result of being ignorant and not caring for our mother earth. Our planet looks like it’s infected with a disease. We turned this once-vibrant planet into a toxic, treeless, lifeless, and overheated trash site. Good Morning, today I xxxx am here to talk to you about ‘’The Earth† Let me begin by a famous quote- â€Å" The Earth provides enough to satisfy every man’s needs, but not every man’s greed.† ― Mahatma Gandhi The urgent message is â€Å"Save the Earth†. It’s a message that has been heard before and consistently being spread throughout the world. In this time that I have to talk to you, I want to show to you, how deep a mess we are in, with environmental crisis and how we can get out of it. It warns us about the catastrophic changes in Earth’s ecosystem as the consequence of global warming. Drought, Famine, Severe flooding, Record rainfall, Hurricanes, Tornadoes, Forest Fires, Acid rain: this is the result of being ignorant and not caring for our mother earth. Our planet looks like it’s infected with a disease. We turned this once-vibrant planet into a toxic, treeless, lifeless, and overheated trash site. The urgent message is â€Å"Save the Earth†. It’s a message that has been heard before and consistently being spread throughout the world. In this time that I have to talk to you, I want to show to you, how deep a mess we are in, with environmental crisis and how we can get out of it. It warns us about the catastrophic changes in Earth’s ecosystem as the consequence of global warming. Drought, Famine, Severe flooding, Record rainfall, Hurricanes, Tornadoes, Forest Fires, Acid rain: this is the result of being ignorant and not caring for our mother earth. Our planet looks like it’s infected with a disease. We turned this once-vibrant planet into a toxic, treeless, lifeless, and overheated trash site. Good Morning, today I xxxx am here to talk to you about ‘’The Earth† Let me begin by a famous quote- â€Å" The Earth provides enough to satisfy every man’s needs, but not every man’s greed.† ― Mahatma Gandhi The urgent message is â€Å"Save the Earth†. It’s a message that has been heard before and consistently being spread throughout the world. In this time that I have to talk to you, I want to show to you, how deep a mess we are in, with environmental crisis and how we can get out of it. It warns us about the catastrophic changes in Earth’s ecosystem as the consequence of global warming. Drought, Famine, Severe flooding, Record rainfall, Hurricanes, Tornadoes, Forest Fires, Acid rain: this is the result of being ignorant and not caring for our mother earth. Our planet looks like it’s infected with a disease. We turned this once-vibrant planet into a toxic, treeless, lifeless, and overheated trash site. The urgent message is â€Å"Save the Earth†. It’s a message that has been heard before and consistently being spread throughout the world. In this time that I have to talk to you, I want to show to you, how deep a mess we are in, with environmental crisis and how we can get out of it. It warns us about the catastrophic changes in Earth’s ecosystem as the consequence of global warming. Drought, Famine, Severe flooding, Record rainfall, Hurricanes, Tornadoes, Forest Fires, Acid rain: this is the result of being ignorant and not caring for our mother earth. Our planet looks like it’s infected with a disease. We turned this once-vibrant planet into a toxic, treeless, lifeless, and overheated trash site. Good Morning, today I xxxx am here to talk to you about ‘’The Earth† Let me begin by a famous quote- â€Å" The Earth provides enough to satisfy every man’s needs, but not every man’s greed.† ― Mahatma Gandhi The urgent message is â€Å"Save the Earth†. It’s a message that has been heard before and consistently being spread throughout the world. In this time that I have to talk to you, I want to show to you, how deep a mess we are in, with environmental crisis and how we can get out of it. It warns us about the catastrophic changes in Earth’s ecosystem as the consequence of global warming. Drought, Famine, Severe flooding, Record rainfall, Hurricanes, Tornadoes, Forest Fires, Acid rain: this is the result of being ignorant and not caring for our mother earth. Our planet looks like it’s infected with a disease. We turned this once-vibrant planet into a toxic, treeless, lifeless, and overheated trash site. The urgent message is â€Å"Save the Earth†. It’s a message that has been heard before and consistently being spread throughout the world. In this time that I have to talk to you, I want to show to you, how deep a mess we are in, with environmental crisis and how we can get out of it. It warns us about the catastrophic changes in Earth’s ecosystem as the consequence of global warming. Drought, Famine, Severe flooding, Record rainfall, Hurricanes, Tornadoes, Forest Fires, Acid rain: this is the result of being ignorant and not caring for our mother earth. Our planet looks like it’s infected with a disease. We turned this once-vibrant planet into a toxic, treeless, lifeless, and overheated trash site.

Personal development Plan Essay

Capital is generally referred by the people to the financial assets and resources, however besides the money; personal capital is also a part of capital. Capital is basically the ability to do something and it allows a person to make his own selections and if it is not available, it is very hard or almost impossible for one to make selections. To evaluate the performance of an individual, capital is an important concept. However, personal performance is not normally termed as capital but it does function in the same way as the financial resources but as for the financial resources, we must build up these resources if we want to accomplish something but the personal capital of an individual is his skills, intelligence, his network of contacts, education, or relationships, etc. (Productivity 501, 2007). We have certain options from where we can choose and these options are interdependent on the amount of capital we have actually acquired. For instance, let’s consider the skill capital. This can further be explained by an example of the skill to perform a particular task to accomplish a particular goal. This can also be to sail all around the world. However, this can only be made possible if the person knows how to sail. If this person does not even know how to sail in a lake along with strong winds, he would never be able to sail around the world. Same applies to the other skills that come under personal capital. Personal capital is something that an individual need to develop personally and is not present in a person from the start. This is basically about polishing the skills you already have in you and is all about increasing our skills as well as the level of intelligence that can be done by various activities such as by reading, studying, taking courses, etc. As for the relationships, they can be improved by investing some more time in them. In order to build up a relationship, giving time, taking care of the person and showing love is very essential and without all these factors it would be hard to maintain any relationship as these are the core factors that are required to make up and then to handle a relationship. To increase our network of contacts, it is a must that we reach out people after which we must stay in contact with them because just reaching them out won’t work effectively. Therefore, we must also remember our past acquaintances and should keep in touch with them as well. The activities mentioned above helps to increase our personal capital and so it also increases the opportunities that we might get.   According to Tom Peters, â€Å"everyone lives by selling something.†Ã‚   (Peters, 1999). People normally retreat when they hear about the word sales as it sounds devious. However, when you convince the other person and you sell, it develops more pleasure and satisfaction and it is all about moving your resources to the ones who need them. Personal capital is basically an ability in a person to make a difference and it can be either processing ability or leverage. The processing ability is basically the extent to which a person achieves a desired result with the resources available to him. It is all about achieving a task based on the thinking skills, energy, character of a person, the level of knowledge and know-how about an activity, thus it is all about achieving the targets within the given resources. This furthermore increases the value of a person as when an individual is different from the others and is able to do tasks effectively, it gives him an edge over others and this can even be his core competency. For instance, let us consider an example of a person who has stared with a new job and as the job is new, the person would need some guidance in order to achieve the targets. Therefore, as assistance is needed by the employee, the results would not be totally based on his skills but later after the employee develops understanding and know-how; he would be able to do the same task without getting help from any other person and can work independently. This shows that his processing ability has been increased. The second part of personal capital is leverage, it raises the productivity of others by using your expertise and further explaining it, we can say that it amplifies your processing ability through others and this can either be done by coaching an employee who is new or by guiding him with the way in which the task is to be performed. Leverage can be measured in a way as our ability to transfer our knowledge to the other party, for example leverage of an economics teacher who teaches the course at a university can be judged in way how he teaches the student and does that really benefit the student or not i.e. does it increase the knowledge of the student or not. Furthermore it is also about using your own previous experience to teach the new employees and help them out to reduce chances of errors or mistakes and when this is achieved, a person achieves leverage. Personal capital can only be built only by learning and trying, it is about the way in which an individual is supposed to take a process and further turn it into a better work process and it is also about adding value to the ideas proposed by the others. People can take courses that could help them to increase knowledge and their processing ability and the way they can share their knowledge that in turn increases their leverage. The reason why personal capital should be built is because of the value we place in making a difference in the tasks we are assigned and the better personal capital an individual has, the better can he perform and achieve he desired goal. Moreover, people have better personal capital will also be able to accomplish tasks that are more complex and challenging.   This is not just the only requirement; however a person should keep on improving his personal capital so that they can benefit from it and fulfill his responsibilities as a team member. Being creative is to turn the ideas that erupt into your mind into a reality and for consists of two aspects that have to be considered. The first one is the ability to think that a person has and the other is to actually create that particular idea. For creative thinking, innovation is a must. This basically means to implement the idea that has been though of. However, if some one has ideas but he does not implement them, he would be considered imaginative and not creative. Therefore, the crux of this paragraph is that there is no use of thinking if you are not doing what you have thought about. (Linda, n.d.) Moreover, creativity can also be defined as something that is new and it therefore requires both zeal as well as dedication. People usually determine certain symbols and myths from creativity that further reveals the hidden points of life. (Rollo May, The Courage to Create) According to another author, a product is only creative when it is novel and appropriate. Moreover, he states that a new product shows its originality, however it cannot be predicted. Creativity of a product basically depends on the concept. The bigger it is, more the ideas are generated and so creativity increases. (Sternberg & Lubart, Defying the Crowd) Creativity can be used for the purpose of economic development, at work and everywhere. The resources available to us in the world are limited but the demands of the people are unlimited. Creative ideas only come in such case when our resources are restricted and as a popular saying of an economist and a social philosopher says that â€Å"Invention is the mother of necessity.† (Thorstein Veblen, 1857 – 1929). However, time and budget can limit creativity. In today’s world creativity is taken as something more than just an artistic expression as it was perceived to be in the previous centuries. However, now it is also essential in many other areas as well. It can be used just anywhere, in a very small thing such as to make a loft or a professional canvas painter. However, creativity can be taken differently by different people who are engaged in different tasks. Constant learning enhances the creativity in a person. Moreover, we should explore different techniques that can help us in improving our creativity. We should brainstorm ideas, do mind-mapping and meditation, etc. I would also say that creativity is basically a mental process that is all about creating new ideas but its originality and appropriateness should not be affected in any way. Creativity is also referred as a divergent thought from the scientific point of view and can be studied from various point of views such as in some of the aspects such as – behavioral psychology, social psychology, psychometrics, cognitive science, artificial intelligence, philosophy, history, economics, design research, business, management, etc. (Linda, n.d.) There are certain questions that one must ask oneself for personal development.  · What’s the history of a person and repercussions for contributions in the past.  · Where we are and what have we gained? (Instead of, â€Å"What have we lost?†)  · What needs to be changed, such as structures to encourage and support learning and innovation?  · What needs to change in my leadership style to foster more of a learning culture? When and where should I practice being a learner? Once we ask those questions to you, one must also consider some of the things mentioned below.  · Hierarchy is not inherently a problem.  · Technical hierarchy not social hierarchy.  · Acknowledge power & power dynamics. The more open this is, the less it will be a subtext of interaction.  · Be in the role of teacher, when the authority in a particular skill or situation, and of learner when not.  · Trust, trust, trust. Trying to control everything accomplishes the opposite.  · Communication – Interaction must be encouraged as it is essential for personal development.  · Documentation – Document learning in one area or project such that it can be shared with other areas and projects. The personal vision of a person is very important as this further develops goal awareness and social orientation. The personal vision of an individual helps them to guide their lives and also provides the direction that is essential to make a choice about the career. It thus, helps to show a way to a person and so it is important for us to identify our personal visions. A personal vision is basically written focusing on the life of person i.e. the joys and the sadness’s filled in their life, what they have achieved and how they have achieved, their contribution, what makes them, their brilliance as well as heritage. Personal vision in turn develops goal awareness as once you identify the personal vision is it easier for a person to focus more on his goals and what he wants to do in life. Moreover, it also develops social orientation in a way that a person cares more about the well being of the society and so he makes sure that their needs are being taken care of and they are satisfied. Other than that, an individual should also have the capacity to working together with other individuals and for this it is necessary that he develops communication, interactive skills and development orientation. The skills and performance of an individual must be upgraded continually and meeting this requirement involves training and development activities and appraising performance for the purposes of giving feedback and motivating people to perform at their best. Training usually refers to teaching lower level employees how to perform their present jobs, while development involves teaching managers and professional employees broader skills needed for their present and future jobs. Individuals must take training to enhance their individual performance that would then increase their productivity. It should focus on developing management skills/development and supervisory skills, technical skills and communication skills. Orientation training programs should be designed for individuals because they are typically used to familiarize them with certain things such as the general policies, procedures, culture and the like. All this results in reputed benefits such as increased morale of an individual; he becomes more productive, lower costs and the like. Team training is also important because it recognizes to facilitate individuals working together. It teaches the people, the skills they to work together and also facilitates their interaction that further focuses on technical, interpersonal and team interaction skills. Communication is very important because it is the only mode through which there can be an exchange of ideas between people but for this they need to interact with other people. They need to form their social groups, talk to their mates and develop orientation that helps to familiarize them with other people. Moreover, concreteness is important too. In this comes openness to change, operational effectiveness and responsiveness challenge. To be concrete basically means to be specific. While making a personal development plan it is also essential to be concrete. An individual cannot do each and everything. Some might be good as some tasks and some might be good at some tasks and so it is not necessary that all people can do the same work well. This in turn develops core competency. In the world today, changes are being made like in every second. However, it does take time for people to adjust to change and people are usually resistant to change but in the end they do have to accept the change. Therefore, it is necessary that one must be flexible and be able to adjust to change well.

Powerful Influence Essays

Powerful Influence Essays Powerful Influence Essay Powerful Influence Essay Essay #1: A Powerful Influence Many individuals have a powerful figure that has influenced them in many kinds of way. Whether it is intellectual, spiritual or Just personal appealed. A great example of an individual being influenced by someone is Martin Luther King Jr. Dr. King was mainly influenced by two main individuals, Dr. Benjamin Mays and Mahatma Gandhi. To get influenced by someone is very appealing because you see something in that person that makes you want to do it yourself or gets you the courage to keep going. On my case, I have been powerfully influenced by my mother. Someone that stands out as a powerful influence in your life is there to stay and keep following some of their aspects. A great example of someone being influenced by amazing people was Martin Luther King Jr. Dr. King was a great person willing to change the societys perspective. He wanted to get the Civil Rights Movement going and to be successful. Through his journey Dr. King met a person who influenced him very much. This was, Dr. Benjamin Mays, president of Morehouse College in Atlanta, Georgia, where Dr. King attended school. Dr. Benjamin Mays visited King and his parents at their home and became a egular guest at the familys Sunday night dinners. In which got Martin Luther King Jr. more attached to him and his believes. Dr. Kings ministerial aspirations were deeply influenced by Mays. l could see in his life the ideal of what I wanted a minister to be, King commented in a 1956 interview. Another powerful influence to Dr. King was Mahatma Gandhi, the spiritual leader of Indias independence movement in the first half of the 20th century. Gandhis nonviolence was informed by not only his Hindu background, but by study of other religious and moral traditions, including Christianity. He spent mostly his entire adult life experimenting with methods of nonviolence intended to be not Just morally admirable, but effective in the real world. This is what caught the attention of Dr. King. Gandhis nonviolence method worked in many ways and Martin was influenced to use this method on his preaching. People may influence your life whether anyone expects it or not. In my case, the most powerful influenced that stands out in my life is my mother. My mother is a wonderful strong woman who has got my siblings and me forward and doing our best. The most influential part of her is that she does not give up. She is always willing to move forward and keep trying her best. My family and I have been through so much and even that way she keeps supporting us and keeps us moving forward. She inspires me to keep going with my life as a strong person and to never give up on my dreams. Yet, what I mostly admire of her is that she is straight forward. She is not one those persons who tells you everything will be okay when it she knows it will not. She is the person who will tell you what is going to happen and the onsequences. She gives her best advice and support and helps on whatever she can. Even though she is not perfect she is the most influential person in my life. She keeps me going and supports me and corrects me on my wrongs. People get influenced in many different ways. What may be influential to someone makes us go forward with our plans or dreams is the one we admire the most. Just like Dr. Benjamin Mays and Mahatma Gandhi influenced Martin Luther King Jr. my mother influenced me in life and she will always influence me and I will admired till the day I cant no more.

The power of the past, Davinci Essay Example | Topics and Well Written Essays - 500 words

The power of the past, Davinci - Essay Example Culture and religion are integral in shaping the way art is presented and features of the art. For instance, in Italy 1500 to 1600AD, the art presentation focused on religion and the depiction of the nature of human beings. The focus of the Italian art was on Christianity which was undergoing changes due to Protestantism which led to the development of different focus of especially on the beauty of humanity. During the era, Leonardo paintings included the last supper, virgin and child with St Anne including St John the Baptist and the Mona Lisa paintings (Kleiner 545). These paintings were oil based and mostly portrait. The influence of religion on the approach used by the artist of the era in the presentation of their ideas is evident from the type of pictures and paintings produced. Both the sculptures and painting of the era comprised of beautiful figures moving gracefully in multi-figure compositions conveying humanity and the perfection of God. The work of Davinci is not differe nt from other artists because it depicts the idea of the society. Art has an important role in the society because it shapes the ideology and customs of the society. In conclusion, Cone addresses the issue of artistic transition and use of portable materials. The art is important when evaluating the impact of material change in artwork. Therefore, artists in Europe were not influenced by the humanism approach employed in the art from Italy. Northern painters travelled to Rome and are known as Romanists.

Marketing Case Study Example | Topics and Well Written Essays - 2000 words

Marketing - Case Study Example The climbs are segmented as ‘the express climb’, ‘the discovery climb’ and ‘the bridge climb’ (Bridgeclimb, n.d.). While doing so the company has also added many feathers to its cap. One such feat achieved by the company is to get its name enlisted in the Guinness book of world records for making most flags flown on the Sydney Bridge (Worldrecordsacademy, 2008). Market Market plays the most pivotal role for a company to successfully demeanor it business. Market consists of a cluster of users who exhibits some similar requirements and desires. In other words a market is set of possible buyers of a product and service (Allen, Macy & Hutchison, 2009, p.21). Therefore for a company to perform its operation effectively in the market place it needs to segment its intended market appropriately (Croft, 1994, p.1). In the context of Bridge climb Sydney their main market lies with the adventure tourism group. The market also lies with those persons who li ke elevation and high altitudes from the ground but not adventurous. The company also has its market scattered all over the world, as visitors from different part of the world arrives to experience it. Segmentation Market segmentation can be defined as the way by which the companies segments the market into various subgroups based on the similar characteristics of the consumer (Bose, 2004, p.513). There are many available alternatives for segmenting the market such as geographic segmentation, demographic segmentation and psychographic segmentation among many others. These day’s companies design their goods and services based on the needs of consumers. Therefore marketing segmentation and market targeting is considered as an essential and central element of marketing activities (Kamakura & Wedel, 2000, p.3). The concept of marketing segmentation helps in understanding the needs of consumers more effectively than its competitors. However on the other hand market targeting is ba sed upon the segmentation and its decision to cater to that segment (Clemente, 2002, p.253). Therefore in the context of the company, segmentation can be done on the basis of geography i.e. the location of the consumers. The geographical segmentation can be used for segmenting the tourist from different countries and accordingly offering products and prices for them. The customers which exhibit adventurous and exploration attitudes are one of the major segments of the company. Apart from that bases of segmentation the company can even undergo niche market segmentation strategy for segmenting the market. This will also reduce the number of competitors for the company. Now according to the services offered by the company the segmentation can be regular visitors, adventurous visitors. The company needs to target adventurous travelers who will surely avail the opportunities. For adventurous travelers the company can cater them by offering ‘discovery climb’ and ‘bridge climb’. These ultimate climbs will surely satisfy the needs of those customers. And for targeting the regular visitors the company can make use of ‘express climb’, which is also conducted in a short period. Therefore the market can be segmented into regular and adventurous visitors. Some of the strategies which can be undertaken by the company for targeting adventurous customer group are as follows:- Product Strategy: - A product strategy is a pivotal function of the company. It resides at the heart of a company’