Assignment: Fee Setting Essay

The government benefits seminar for children and families was a major success, so Advocates for Children will carry out a similar seminar in a nearby town. The executive director has decided that this second seminar should make the highest possible amount of money. For this reason, they will not offer a reduced fee schedule, and all attendees must pay the entire fee. This seminar will happen in a smaller room than the first one did, which can only leave space for 45 trainees, at most. Here is the seminar’s proposed budget: Proposed Seminar Budget 1. Conference room rental $175.00 $ 175.00 2. Audiovisual equipment Rental $75.00 3. 4 presenters @ $500 $2,000.00 4. 45 workbooks @ $15 $675.00 5. 45 lunches @ $12 $540.00 6. 45 coffees @ $3.50 $158.00 Subtotal $3,623.50 7. Indirect costs @ 25% of $3,622.50 $ 906.00 Subtotal $4,529.00 8. Profit margin @ 5% of $4,528.13 $ 227.00 Subtotal $4,756.00 You are the executive director. Following the checklist in Figure 11.1, perform all the computations necessary to set a fee. What will your fee be? What is your break-even point? What is your go/no-go decision point? Fixed Costs 1. Conference room rental $175.00 $ 175.00 2. Audiovisual equipment Rental 75.00 3. 4 presenters @ $500 2,000.00 4. Indirect costs @ 25% of $3,675.00 $ 906.00 5. Profit margin @ 5% of $4,594.00 $ 227.00 Total Fixed Costs $3,383.00 Variable Costs 6. 45 workbooks @ $15 $15.00 7. 45 lunches @ $12 12.00 8. 45 coffees @ $3.50 3.50 Total Variable Costs $30.50 Breakeven point I would put my breakeven and go/no go point at 30 attendees. I have set it lower to make up for margin or error, and when more than 30 people attend the profits will also increase. This is the revenue maximization strategy that I will use. XP= A+BX 30P= 3,383 + 30.50(30) 30P= 3,383 + 915 30P= 4,298 P= 143 *Fee will still be set within the standard bracket. Exercise 11.2 As the executive director of Advocates for Children, you have had a change of heart. You decide not to attempt to maximize revenues in this second seminar. You decide to exclude a profit margin in the fee computation, but you will include indirect costs. Additionally, the local United Way in the community hosting the seminar has guaranteed 45 participants. If fewer than 45 participants register for the seminar, the United Way will make up the difference. In exchange for this guarantee, the United Way has asked you to set the seminar fee as low as possible. Following the checklist in Figure 11.1, perform all the computations necessary to set a fee. What will your fee be? Fixed Costs 1. Conference room rental $175.00 $ 175.00 2. Audiovisual equipment Rental 75.00 3. 4 presenters @ $500 2,000.00 4. Indirect costs @ 25% of $3,675.00 $ 906.00 Total Fixed Costs $3,156.00 Variable Costs 5. 45 workbooks @ $15 $15.00 6. 45 lunches @ $12 12.00 7. 45 coffees @ $3.50 3.50 Total Variable Costs $30.50 45 participants 45P = 3156 + 30.50(45) 45P = 3,156 + 1373 (rounded-up) 45P = 4549 (rounded-up) (Divide both sides by 45) P = $101.00 (rounded-up) For 45 participants,the fee is $101.00 (100.63 if not rounded-up). * I chose to use the number 45 because the United Way has guaranteed that they will make up the difference if less than 45 people attend. Reference Martin, L. (2001). Financial management for human service administrators. Boston, MA: Allyn and Bacon.

Factors Contributing to the Growth of Enterprise and Small Business Essay

For example: – In USA small businesses represents 99. 7% of all employers, it represents 26% of America’s exports and they create 80% new jobs each year. Growth and success of a business can be measured on many different variables which also includes annual turnover, profit and employment growth. As in other businesses small businesses have been helped by factors which had contributed to its growth. Growth in small businesses has been aided by policy measures by the government which has supported these small businesses, the macro-economic factors, industry factors and firm-specific factors. Having the intention, the ability to setup and grow, getting the right opportunity, easy access to finance, favorable rules and regulations and market conditions which are aimed at small businesses have also led to the growth of these businesses. People are motivated to start their own business where they have greater control of the business, can stay independent , can manage the business in their own way, the financial freedom, the potential income they can earn as their aims are to reach the top of the table, the amount of financial gains they achieve and the joy of winning which is driving factors for the entrepreneurs as it helps satisfy their achievement instincts. Everybody wants to be their own boss and this is also one of the factors for starting up your own business. Lucy Martin, author of â€Å"Make it your Business† said â€Å"Whatever your situation, there is likely to be a combination of ‘push’ factors (propelling you out of current jobs and situations) and ‘pull’ factors (which attract you to self employment)†. Countries with low income or in developing countries more small businesses are being setup because of the push factor as there is a high number of unemployment and people are forced to start-up their own business. In high income countries or developed countries small businesses are increasing due to the pull factor as more and ore people are interested in setting up their own business go become independent. [pic] Sometimes businesses fail or people get frustrated and it is at this time that they need to remind themselves what motivated them to start their own business and this motivation and dedication has led to their growth and success. According to Schumpeter entrepreneur is an innovator as h e/she brings about a change and introduces new technological processes or products and brings in new ideas which are necessary for a business to grow. He also said that only certain people have the ability to become an entrepreneur and to perform extraordinary tasks. Small businesses are the ones that tend to grow faster than large businesses. They indicate higher number of employment growth. Small businesses accounts for more than 50% of the employers in European Economies. France, Italy, Spain, Greece, Germany and UK are the leading economies of the European Union where small Businesses have been thriving for the past two decades and where small businesses accounts for more than 50% of the total employment. In Greece small businesses accounts for as much as 86% of the number of people employed. In 1998, a charter for small business was adopted by European Council which has helped in the huge number of growth in small businesses. Banks are the main source of lending for small businesses and they depend a lot on them for support and cooperation. HSBC was one of the banks which started recognizing small businesses as one of main force in the economy. In UK small business employ about 12 million people so as to recognize and reward these small businesses HSBC launched an award in 1997 Known as â€Å"HSBC small business of the year Award†. HSBC started a new loan program called â€Å"SMALL BUSINESS LOAN† which was quick and easy to arrange loan facility for long term use and had many key benefits. Customers can choose to make their first repayment either one month after taking the borrowing or defer the first repayment until three months after drawing down the loan, Customers had the flexibility to choose the repayment period which was between 12 months and 10 years, the interest rate and repayments will be fixed for the life of the loan. HSBC recently launched a $5 billion working capital fund to ensure small businesses had access to credit during the current economic crisis. In 2008 alone more than 32,000 small businesses have switched to HSBC because of higher lending fees and banks reluctant to extend loans. Growth of small businesses depends on the type of business they are doing, location of the business (a retail shop should be better placed in the residential area) and most importantly the ownership of the business. Governments in some countries (UAE, Saudi Arabia) have gone as far as allocating lands to small business owners; small businesses are encouraged to setup as the government provides 5 years of tax free operation to businesses with potential growth and they provide financial assistance with low interest rates as well as assign a team to monitor the growth of the businesses. Rental and electricity charges are lower for small firms and the government is also getting small construction businesses to get involved in the construction industry by giving them subcontracts for some of the projects. In UK the government started a programme called â€Å"The Business Support Simplification Programme (BSSP)† which aims to make it easier for small companies and entrepreneurs to understand and access government funded grants, subsidies and advice with which to start and grow their businesses. Small Businesses were given incentives and taxes were lowered so as to help them setup. Setting up of this programme had a huge influence on the growth of small Businesses. In March 2008 the Government launched the Enterprise Strategy. The Strategy’s vision is to make the UK the most enterprising economy in the world and the best place to start and grow a business. It was designed to unbolt the entrepreneurship talents in UK, provide a boost to enterprise knowledge and skills, support new and existing small business getting access to funding for start-up and growth and decrease the burden of regulations in place particularly for small firms. The government wants a culture of enterprise and business innovation which will have a great effect on the economic growth. This new strategy has strengthened the Government upport to small businesses and has allowed SME’s to set up more easily and with a proper regulatory body monitoring the growth. Small Businesses are flexible, more focused, specialized and creative and these are some of the reasons why there is an increase in the number of small businesses . Flexibility is what drives some people to start their own business. For example: – (if a person is expert in any subject, field or have some extraordinary skills he/she can work as a consultant where the work timings are set by him/her self and the amount of time spent also). Growth in business demands creativity. It is what will separate you from the competition. A business had to be different as this is the best way to create awareness. Being different and greater creativity are also the factors which has influenced the growth of small businesses. Being innovative and inventing new things is also a factor which drives people to start their own business. People would have some different business idea of doing something in a different way and this leads to creativity and innovation. Small businesses are easy to setup as the cost of starting up is not very high. Government supports the setup of small business because they want to break the monopoly in the market and there will be a decrease in the number of unemployed as more and more people will become self-employed. Lower opportunity cost also attracts people towards entrepreneurship. Economies with high unemployment can be pushed towards entrepreneurship. Examples are Brazil and India. Some people would like to pursue a particular desire or hobby so they enter in to entrepreneurship, it can be leisure driven and it gives flexibility to the owner as there can be work-life balance. More and more specialized people are starting their own business in the field they specialize as they can deliver better services and products. Specializing in a particular product or service gives you the upper hand in the market you are in as you will have the skills and knowledge of the product you are manufacturing or selling. Specialization has also led professional people or extra ordinary skilled people in to starting up their own business. Gaining inspiration from famous entrepreneurs have also led to the factor that people are ready to start up their own business thinking one day they might be like Donald Trump, Hugh Heffner or Richard Branson. Becoming famous and wanting to be recognized in the world is also a strong feeling which had pulled people towards entrepreneurship as there is a strong desire attached with it to pursue their perceived goals. Gaining fame and recognition is one of the strong factors which have led people to start their own business. In general, I conclude by saying that small businesses have been growing because they thrive for independence and the owners usually have a feel good factor while running their own business. It gives them a chance to show the level of creativity in them as they won’t be able to do so while working in other companies. Small Businesses are the key to innovation and without their support the economy would fail drastically. Growth of Small Businesses can be affected due to the current economic crisis but government and banks should support and back small businesses to survive this crisis. Banks like HSBC are already committed to supporting small businesses in this economic crisis and as more and more people getting unemployed governments should give incentives and grants and promote the setup of new businesses and provide assistance and advice on main issues surrounding the small businesses. Small Businesses are not always successful but having proper business idea and creative mind plus knowledge of market will help the entrepreneurs in getting their business on the right track. As SCHUMPTER proposed that it was the exceptional creative drive of independent entrepreneurs that led to the introduction of radical new products and the creation of new industries. This radical drive to invent, innovate and create something which is new to everyone has been one of the major factors in the growth of Small and medium sized businesses (SME’s).

Case Study Of Airbus for Supply Chain Management Free Solution

The aerospace industry has recorded a consecutive increase in the sales continuously from last three years. Supply chain management is becoming the key element for the development of the aviation industry (Gopalakrishnan et al. 2012). The complexities and risk factors mainly lie in the section of supply and management of the company. This report is made to focus on the importance of supply chain management in an organization for its smooth and reliable operation. In consideration of the globally established value chain analysis among the aerospace industry involves the completion of the customer requirements. There is no violation of this aspect in case of the Airbus. The production network is combing several factors: functions of the suppliers, transporters, retailers, manufacturers, etc. Airbus is focusing on the wide process of outsourcing. This aspect is totally related to the supply chain management of the organization (Khajavi, Partanen and Holmstrom 2014). The example of value chain analysis can be explained by: Airbus and Boeing together has introduced B787 and A350XWB, which involves more complex work packages in comparison with the previous programs, though it is used to reduce the time and cost involved. The supply chain management is totally dependent on the working culture of the stakeholders of any organization. Airbus also provides importance to their employees for managing the value chain within the industry (Martinez-Jurado and Moyano-Fuentes 2014). The strategically involved suppliers and other stakeholders of the Airbus first examine the subsystems and crucial parts of the organization, this aspect builds good relationship with the suppliers, customers and the employees of the organization. Airbus launched packages according to the risk shared with the suppliers. The losses considered for the suppliers or external people involved in the organization are added with the cost involved in manufacturing the product or services. This aspect makes the suppliers more responsible with their work that involves the setting up of packages, and improvement of the scope of the work, etc. (Mena, Humphries and Choi 2013). The improvement of the working culture in Airbus, the management adds new programs for involving the experienced suppliers for getting better production. Airbus organization has taken up new initiatives to increase their supply chain resilience. In this organization, the supply chain process is quite complex, and disruption occurs due to resource constrains, quality and communication issues, environmental events and supplier's insolvency. From the following statistical graph, these illustrations can be better understood. (Source: Liu, Kasturiratne and Moser 2012, pp-585) The strategy management process of Airbus organization is as follows Figure 2: Supply Chain Management of Airbus (Source: Golicic and Davis 2012, pp-730) The major actors of Airbus' management process are suppliers, manufacturers, transporters, retailers, and customers. In the research and development center, the manufacturers use raw materials to produce the best quality of aircraft products to the customers (Aung and Chang 2014). The first tier suppliers assemble the major parts of the system such as engines, interior, gear, and avionics. The second level suppliers deliver the manufactured products. Whereas, the third level suppliers perform specific operations of the aircraft system. After analyzing the supply chain management of the Airbus organization, it can be stated that outsourcing of aircraft parts is not at all a cost effective way. In addition, outside manufacturers are not concerned to enforce security standards which can reduce the competitive strength of this organization in the global market. Therefore, a new supply chain management is proposed in the following section which can help for reliable and smooth operations. Figure 3: New Supply Chain Management for Airbus (Source: Fayezi, O'Loughlin and Zutshi 2012, pp-568) The above supply chain management model is the best-fitted option for Airbus Company, which not only manufactures the best quality of products but also streamline the entire system to reduce operational cost, to enhance the quality and to speed up the aerospace operations. Customer Relationship Management: This helps to manage to establish a healthy relationship with the customers by maintaining it with loyalty. Through this, the management authorities will be able to target and prioritize the best customers and their needs (Liu et al. 2014). This contributes to making perfect performance report to measure the profitability of the customers and financial impacts of the organization. Customer Service Management: Through this, real and single time of information can be provided to the customers such as order status, product availability and shipping dates. Demand Management: It is very crucial to maintain a fair balance between customers’ needs and organization’s capabilities (Huang et al. 2014). This process is related to the forecasting process including procurement, production, and distribution. Order Fulfillment: It is the key factor to make any supply chain management successful. Customers are the biggest asset if any organization and their needs should be prioritized at first. This process deals with manufacturing, marketing requirements and logistic operations (Mokasdar et al. 2014). These can help to meet the customer requirements by reducing the delivering cost to the consumers. Manufacturing Management: This is concerned with the product markings and its distribution over the network. It begins with team reviewing where marketing and corporate strategies are reviewed (Zhou et al. 2014). This will help to incorporate new technologies which are necessary for better operational flow.   Supplier Relationship Management: Suppliers are the ones who can give best quality aircraft products to the organization. Through this, the organization will be able to strategize the sourcing and manufacturing plans and can identify the service components which are crucial to making best aircraft system.   Product Development: Reviewing the sources and strategies is a major part to offer a new quality of products and services to the customers. This is very crucial to maintain customers’ loyalty. Return Investment: It is the last but most important part of the supply chain management process (Hou et al. 2014). This is very helpful to gain competitive advantages for the organization by reviewing the legal and environmental compliance guidelines. After reviewing the supply chain strategies of the Airbus Company, some of the challenges are identified which are described as follows In the manufactured products of Airbus organization proper security standards are missing (Cousins et al. 2015). This creates a negative impact on the customer confidence as well as brand reputation. Day to day increase in the fuel price creates negative impacts on the economic performance of the organization. More dependency on the external suppliers can reduce the competitive strengths of the organization in the global market. The absence of proper R&D standard products and lack of environmental standards in the aircraft system can increase the environmental pollution (Lawson et al. 2015). New entries in the market can challenge the organization from technical as well as quality front ends. (Source: Petersen et al. 2015, pp-15) Supply chain management is concerned with the flow of information and products among the members of the supply chain. Information technology also plays the vital role in relation to the supply chain management. There is no exception with Airbus in this case (Handfield et al. 2015). Airbus examined that, information, which is the main element in the case of the supply chain management is most of the time overlooked by the members of the supply chain. The infrastructure and capabilities of the IT provide aggressive positioning of the business initiatives: cycle implementation, cycle time reduction, etc. Airbus follows three core ideologies for implementation of the IT infrastructure in the value chain: making the customer satisfied, management of the information among the value chain, setting up new IT infrastructure for handling the information in the better way (Turner et al. 2014). Airbus introduces the elements of the IT infrastructure for the developing the supply chain within the organization: input-output devices, media for storage, software and hardware support for the maintenance system, etc. An unmanaged supply chain is not intrinsically stable. The variation in demands of the customers increases, when one rise in the supply chain. Small changes in the customer demands will make the variation on the orders placed. Ultimately the network of the industry will oscillate in a large range (Woodward et al. 2014). This happens because the problems within the organization get reduced by the from the perspective of the supply chain management. This phenomenon is known as the Bullwhip Effect. Aerospace industry also faces this issue like other industries. The main reasons for the Bullwhip effects are: overreaction to the backlogs, inventory reduction for the neglecting the orders, lack of communication for making the supply chain down, coordination problem, delay time introduces by material flow, matching of the orders, inaccuracies of the demand forecasting (Madenas et al. 2014). The above mentioned factors are also maintained by the Airbus. The Airbus is aware of managing the ef fect of Bullwhip within the organization, which improvise their competitiveness. Table 2: Forecasting Of Airbus Organization (Source: Aung and Chang 2014, pp-180) According to the statistics presented in the above table, it can be said that in the next 20 years, this organization will provide its aviation services will be served to many customers all over the world. People from all over the world can have access to the flying services both physically and economically. From 2015 to 2034, all total 32,600 aircraft products will be delivered to the customers with larger aircraft including A350, A330, and A380. (Source: Subramanian and Gunasekaran 2015, pp-220) Managers of Airbus organization should adopt the supply chain metric process to measure the complexity lies in the sourcing ad management platforms of the company. Supply Chain Metrics is very useful to capture the performance lack across the supply chain. In order to determine the relationship between chain performance and corporate performance, supply chain metrics is very crucial, as it can align the organizational logistic operations with new model implementations (Huang et al. 2014). As a result, company's growth can be increased regarding larger revenue growth. The upstream and downstream process of Airbus organization is as follows Figure 5: Upstream and Downstream Process of Airbus (Source: Golicic and Davis 2012, pp-180) In the upstream process, the aircraft product manufacturers take the raw materials from the suppliers before delivering it to the customer. In the downstream process, products are properly manufactured to be provided to the customers. After evaluating the current supply chain operation of Airbus organization, implementation of SCRM inside the organization is very necessary to mitigate the challenges from the grass root level (Musa et al. 2012). Figure 5: Supply Chain Risk Management (Source: Abubakar et al. 2012, pp-200) The SCRM model is very helpful to analyze the internal and external constraints in order to improve the undeveloped areas of the organization. At first, the risk is identified, then it is evaluated and at last, some best solutions are found out to mitigate these problems. According to the research done on the developmental perspective of the aerospace industry, it is noted that there is a huge growth opportunity for the aerospace industry if the OEMs improve the supply needs for accomplishing the customer needs. On this aspect, new supply chain management model is proposed for Airbus organization to mitigate its internal as well as external challenges. This model can help the organization to provide the best quality of products and services to the customers by reviewing all the marketing and corporate strategies. In turn, this will help to improve the current situation of the organization in an advanced way.    Alfalla-Luque, R., Medina-Lopez, C. and Schrage, H., 2013. A study of supply chain integration in the aeronautics sector.  Production Planning & Control,  24(8-9), pp.769-784. Aung, M.M. and Chang, Y.S., 2014. Traceability in a food supply chain: Safety and quality perspectives.  Food control,  39, pp.172-184. Fayezi, S., O'Loughlin, A. and Zutshi, A., 2012. Agency theory and supply chain management: a structured literature review.  Supply chain management: an international journal,  17(5), pp.556-570. Golicic, S.L. and Davis, D.F., 2012. Implementing mixed methods research in supply chain management.  International Journal of Physical Distribution & Logistics Management,  42(8/9), pp.726-741. Gopalakrishnan, K., Yusuf, Y.Y., Musa, A., Abubakar, T. and Ambursa, H.M., 2012. Sustainable supply chain management: A case study of British Aerospace (BAe) Systems.  International Journal of Production Economics,140(1), pp.193-203. Handfield, R.B., Cousins, P.D., Lawson, B. and Petersen, K.J., 2015. How Can Supply Management Really Improve Performance? A Knowledgeà ¢Ã¢â€š ¬Ã‚ Based Model of Alignment Capabilities.  Journal of Supply Chain Management,51(3), pp.3-17. Khajavi, S.H., Partanen, J. and Holmstrà ¶m, J., 2014. Additive manufacturing in the spare parts supply chain.  Computers in Industry,  65(1), pp.50-63. Lavastre, O., Gunasekaran, A. and Spalanzani, A., 2014. Effect of firm characteristics, supplier relationships and techniques used on supply chain risk management (SCRM): an empirical investigation on French industrial firms.  International Journal of Production Research,  52(11), pp.3381-3403. Lengnick-Hall, M.L., Lengnick-Hall, C.A. and Rigsbee, C.M., 2013. Strategic human resource management and supply chain orientation.  Human Resource Management Review,  23(4), pp.366-377. Liu, P., Huang, S.H., Mokasdar, A., Zhou, H. and Hou, L., 2014. The impact of additive manufacturing in the aircraft spare parts supply chain: supply chain operation reference (scor) model based analysis.  Production Planning & Control,  25(13-14), pp.1169-1181. Liu, S., Kasturiratne, D. and Moizer, J., 2012. A hub-and-spoke model for multi-dimensional integration of green marketing and sustainable supply chain management.  Industrial Marketing Management,  41(4), pp.581-588. Madenas, N., Tiwari, A., Turner, C.J. and Woodward, J., 2014. Information flow in supply chain management: A review across the product lifecycle.CIRP Journal of Manufacturing Science and Technology,  7(4), pp.335-346. Martà ­nez-Jurado, P.J. and Moyano-Fuentes, J., 2014. Lean management, supply chain management and sustainability: a literature review.  Journal of Cleaner Production,  85, pp.134-150. Mena, C., Humphries, A. and Choi, T.Y., 2013. Toward a Theory of Multià ¢Ã¢â€š ¬Ã‚ Tier Supply Chain Management.  Journal of Supply Chain Management,  49(2), pp.58-77. Narasimhan, R., Narayanan, S. and Srinivasan, R., 2013. An investigation of justice in supply chain relationships and their performance impact.  Journal of Operations Management,  31(5), pp.236-247. Subramanian, N. and Gunasekaran, A., 2015. Cleaner supply-chain management practices for twenty-first-century organizational competitiveness: Practice-performance framework and research propositions.  International Journal of Production Economics,  164, pp.216-233.

Strategic Change Management Essay Example | Topics and Well Written Essays - 3000 words

Strategic Change Management - Essay Example In this essay, the significant and application of strategic change in organizations would be considered. One of the examples of the strategic change in the current economic scenario is that of Marks & Spencer. The example of this organization would also be discussed. WHAT ORGANIZATION STRATEGIC CHANGE MEANS AND HOW IT IS SITUATED AS LITERATURE Strategic change is highly important for all the organization in today’s global situation. This section describes what strategic change is and a basic model for change. Strategic Change in Organizations Strategic change in organizations means bringing a change in the internal environment in accordance with a defined strategy that is implemented through synchronization of the organization’s vision, mission, goals and objectives. A strategy is a framework on which the decisions and operations of an organization depend. A strategic change is changing the way an organization operates by changing its strategy. Strategic change is a ver y wide term it may also include radical transitions undergone by organizations that include changing the strategy, structure, culture and processes of the organization. ... Such indicators are named Key Performance Indicators (KPIs) which indicate the difference in the performance of the organization before the implementation of the change and after the implementation of the change. If the difference is in line with the projected results, it can be concluded that the strategic change is being implemented successfully; however if the difference in performance is not as planned, it can be concluded that a modification in the strategy is required. There are a number of factors that can cause pressure for a strategic change in an organization. Such factors can be so significant they can sometimes harm the very survival of an organization. Therefore, in order to survive in the market, an organization needs to bring change in its system as a result of the pressure from such factors. Factors that can create pressure for change may be; change in external environment of an organization that is, change in technology, change in economic scenario, change in social trends or a change in political scenario. There are a number of ways in which a change may happen in an organization. The strategic core of an organization, which normally comprises of the board of directors, may inform the other levels of organizations that the organization is under a crisis and they may suggest a strategy for change. On the other hand, the change may be a gradual process with a number of short term goals. In this manner, the change would happen without raising an alarm throughout the organization. Another manner of bringing a change in the organization may be through a change agent. A change agent may be the leader of an organization or any other person who is inspiring

Leadership Essay Example | Topics and Well Written Essays - 4500 words - 6

Leadership - Essay Example nes to be a pervasive element that nurtures optimal capacity of an individual to understand the perception of the followers and lead them to achieve their optimal goals in both personal and professional career (Riggio & Harvey, 2011). In this regard, it is quite evident that the conception of leadership often requires an experiential learning to gain adequate understanding about the significance and role of leadership in human development. The essay critically reflects and appraises the perception of leadership in relation to streamlining potentials of individual leaders. To understand the conception and role of the potentials to garner effective leadership style, the discussion of the essay evaluates the perception of applied leadership theory in the context of evidence-based, inquisitive, reflective and in a critical approach. Throughout the discussion, the analysis sections of the essay portray the influence of leadership approaches and practice on the followers along with their perception within a particular organisation or group. The leadership approaches have long been witnessed to provide a major contribution to the organisations by improving performance and achieving competitive advantages over others. In this regard, the applied leadership has been witnessing to obtain pervasive values and significance for the leaders to accumulate wider attention of the followers and enhance their performance for a shared organisational vision. In relation to the growing phenomenon in the global business environment, leaders apply various approaches of leadership practices accordingly (Northouse, 2009). Few of the major approaches of the leadership practices applied in the organisations have been critically evaluated in the following discussions. The application of the leadership practices depends on various aspects as stated and discussed hereunder. The concept of leadership has been widely recognized as the notion of competence, which tends to influence a group

English colonization on the indigenous peoples of the New World in the Research Paper

English colonization on the indigenous peoples of the New World in the 16th and 17th centuries - Research Paper Example In ancient times the concept of colony is found in Greek city states. According to Toynbee apart from Athens and Sparta, all the Greek city states established their colonies on different parts. Greek city states developed colonies in order to fulfill the needs of their growing population1. Modern era of colonialism is normally associated with the discovery of America in 1492 by Columbus. Spain established its colonies in the New World and shortly afterwards other European countries followed the suit. The fall of Spain gave place to England and France to fight for the new found world along with already known world of India and Africa. In this fight between the two European powers, England prevailed. English colonies were established worldwide and they boasted that sun never set on the British Empire. American history begins with the clash of Europeans and Native American people. The above statement is true for modern times, which ignores the past of New World. Archeology has revealed the old world of America but normally it is ignored and least discussed. For current purpose the focus will be on the 16th and 17th centuries. The Native Americans, who first came into contact with Europeans, had their culture and values. They used to speak some 300 to 350 distinct languages and different ways of living. The Aztecs and Incas were two great empires of this New World and their remains testify the greatness achieved by these empires. These native people first faced Spanish settlers. The sheer power and brute force humbled the indigenous population and this was the method, which was to be used by later colonial powers. English settlers tried their luck at the East and there the indigenous population despite its variation lived in similar ways. They depended on agriculture, which was done by female population. Indigenous population did not keep herds of domestic animals and Male population used to hunt and fish. They used to live in family groups but loyal to larger kin and clan. There used to be one chief, who ruled by consent. The first major impact of colonialism on indigenous population was epidemic diseases. The life style of local population was different as they never kept herds and never lived with animals. On the other hand Europeans and Asian used to live near their domestic animals. The diseases, which were spread in the local population, resulted in the death of countless people. Mann says that "what happened after Columbus was like a thousand kudzus everywhere." "Throughout the hemisphere," he wrote, "ecosystems cracked and heaved like winter ice."2 Estimates of the population of the Americas at the time Columbus arrived have varied enormously. Some have argued that existing estimates of a high pre-Columbian indigenous population are rooted in a bias against aspects of Western civilization and/or Christianity. The indigenous population in 1492 was not necessarily at a high point, and may have already been in decline. Indigenous populat ions in most areas of the Americas reached a low point by the early twentieth century, and in a number of cases started to climb again. Native Americans suffered profoundly because of their remoteness from the rest of the world. Europe, Africa, and Asia had been trading knowledge and technologies for centuries. Societies on all three continents had learned to use iron and kept herds of domestic

Criminal justice-Deterrence theory Essay Example | Topics and Well Written Essays - 500 words

Criminal justice-Deterrence theory - Essay Example The Deterrence Theory explains that punishing the criminal will make them not to repeat the crime, and will discourage the public from being engaged in similar criminal activities. On this base, it follows that the level of punishment should match the impacts of the crime in question. Certainty operates in Deterrence Theory in that when people are accused of a crime, they must be punished to avert repetition of the crime (Vito, Maahs, and Holmes, 66). Severity implies that punishment because of a crime should be as severe as the affects it had on those it affected. Severity relates to deterrence theory in that criminals should be punished in accordance to the crimes they did, and the punishment should stop them from repeating the crime. Celerity refers to the speed at which punishment is given to a criminal, and it operates in Deterrence Theory in that criminals should be punished as soon as they commit the crime so that their memory is still fresh of the actions they committed. The most significant of the three is certainty as it refers to the surety that a criminal will be caught and be punished (Wright, pp 5). Severity and celerity would not be in existence if certainty did not operate since if the criminals were not caught and punishment would not be guaranteed. This stops people from engaging in crime since they know the consequence of their actions is punishment. Persistent thieves do not operate in accordance to crime as choice model since they know the consequence, which is punishment to stop them from repeating the crime, and they still engage in theft (Vito, Maahs, and Holmes, 69). Increasing the length of jail terms for criminals who have been caught stealing under the influence of drugs will be crucial in their correction since they will be deterred from repeating the crime. In most cases, they steal because they want to buy the

Dunkleosteus Essay Example | Topics and Well Written Essays - 500 words

Dunkleosteus - Essay Example The living organisms in this classification include sharks, rays, chimearas, ray-finned fishes, and land vertebrates. The clade of Placodermi is now in extinction because of the incapacity of the organisms to survive. The Placoderm are characterized by the presence of dermal armor comprising of a head armor and thoracic armor. Their thoracic armor is distinct because the foremost dental plates forms a ring around the body and include one median dorsal plate (Janvier 3). The order Anthrodita is comprised of organisms in Placodermi which have movable joints between the armor surrounding the head and the body. The organisms belonging to this class is also distinct for their two sets of upper tooth plates, gnathal plates which are tuberculated, and large endocrinal postorbital process (Janvier 4). These structures allow the lower jaw to move down while the head shield also budge for a large opening. Together with their extinctions of these prehistoric armored fish, their primary characteristics of having armors which covers their entire head and some of their body.

Paraphrasing Essay Example | Topics and Well Written Essays - 250 words - 4

Paraphrasing - Essay Example While comparing the results for CO2 and H2, hydrogen gas follows the Ideal Gas Law producing the major component of gas. The data related to the first two trials of H2 was not considered for the fact that the gas had got away from the flask; that is why the average of H2 produced in moles appears lesser than moles of CO2 produced. The reaction of Mg and HCl gave a more ideal gas product than the gas product from the CaCO3 reaction. The Ideal Gas Law has its own limitations in assuming that the gas particles do not attract each other and they do not have any finite volumes. These assumptions explain the difference between actual yields and the theoretical yields of the gases. If van der Waals equation is to be used for calculations then the difference will significantly narrow down because the equation bears in mind the volumes and attraction of the gas particles. Gas particles leakages further explain the inaccuracy of the results. It would be appropriate to repeat the experiment wit h the correct volume of the gas in the system to eliminate this

Box 13.2 Crisis Preparedness Scale Essay Example | Topics and Well Written Essays - 750 words

Box 13.2 Crisis Preparedness Scale - Essay Example X 5 Legal considerations do not override ethical and human concerns. X 6 Our organization has a trained crisis management team (CMT) that can assemble quickly and make effective decisions. X 7 Our organization has the capabilities to investigate and determine a. the precise type or nature of whatever crisis could occur. X b. the early warning signals that precede each type of crisis. X c. whether such signals were blocked or ignored. X d. the exact, human, organizational, and technical causes of a crisis. X 8 Our organization has properly designed, constantly maintained, and regularly tested damage containment systems in place. X 9 Our organization has backup manufacturing equipment and computers so that it can resume operations as quickly as possible. X 10 Our organization has recovery mechanisms to restore full site and organizational operations. X 11 Our organization has recovery mechanisms to restore the surrounding community and environment. X 12 Our organization has the capabil ities to communicate effectively, notify the proper authorities, respond to the media, and reassure a wide array of stakeholders. X If you answer no to two or more of these statements it is likely that your organization will have a crisis and that it will have difficulty handling it properly. 1. Short summary of results The preceding assessment indicates that the organization I am assessing has general provisions for addressing crises of a general sort, and provides for the manpower, equipment, and resources for most crises as they occur within the organization. It does not, however, have sufficient capability to quickly and accurately assess all types of injuries that may result in a crisis, nor does it have sufficient resources or provisions to restore the community or surrounding environment outside of the organization. It is doubtful that a quick and accurate assessment of the exact cause of the crisis could immediately be determined on its own without expert help. 2. What the r esults reveal about leadership communication behaviours The results reveal that leadership communication behaviours in this company fail to give due attention to important details about the causes and repercussions of the crisis, and likewise fail to go beyond the immediate confines of the organization. There is also a lack of importance given to people, both within and outside the organization. Because of this, my self-understanding has increased about the necessity of ascertaining details, especially in the human aspect, when assessing the effects of a crisis, because lack of detail compromises the effectiveness of any general crisis response plan that the management may have drawn. The assessment also reveals that in my role as leader or follower, my potential strength lies in my empathy with the human aspect, whether they involve the employees of the organization or the community, because I am able to appreciate the need for the human focus, and possess an insight about how it c ould be enhanced. On the other hand, I believe my weakness is in the establishment and operation of a mechanism to determine details such as the exact causes of a crisis. As far as I can perceive, a developing crisis is manifested by certain situations, but it will take a post-crisis assessment to determine the exact causes. While the crisis is unfolding, it appears highly unlikely that the exact cause of it may be immediately determined. In this weakness, I believe that the

European Court of Justice Essay Example for Free

European Court of Justice Essay The European Union (EU) is a celebrated alliance of Nations that runs from the United Kingdom and Portugal in the West to Turkey in the East. The EU has made travel and trade much easier between its member states. With few exceptions this Union now shares a common currency known as the Euro. After close to a decade of existence the Euro is now stronger than the U. S. Dollar. This economic powerhouse is energized by free trade between its members a free trade marked by cooperation rather than competition. Today, the average French Citizen has access to Limburger, Swiss and Italian Cheeses at ever cheaper prices. The EU can legitimately boast that it has all but eliminated tariffs between native states. Unfortunately, this Union is not without its faults. There are occasions when selfish national interest subvert the good of the Union. After all, despite the good will and benefits that nations gain from free trade, parochial interests can still sometimes over come the common good. In such cases the European Court of Justice may be forced to intervene. For example, In Commission v.  Italy Italian customs charges were struck down because any pecuniary charge, however small, imposed on goods by reason of the fact that they cross a frontier constitutes an obstacle to the movement of such goods. † Commission vs. Italy is not an isolated case, it is safe to say that â€Å"In developing the rules of the internal market, the European Court of Justice has maintained a careful balance between the de-regulation imperative of the Treaty, as interpreted by the Court, on the one hand, and legitimate Member State interests and the reality of regulatory diversity, on the other. The Court’s perception of the place of both civil and political rights and social rights within the internal market changes in accordance with how this balance falls. † The European Court of Justice (ECJ), also known as the Court of Justice of the European Communities is the highest court of the European Union. The court is similar to a national Supreme Court. It strives, interpret the EU laws to ensure equal application across the various European Union member states The European Court of Justice is based in Luxembourg City and was established in 1952. It is one of the few European Union institutions that is not based in Brussels. There is one judge for every member state although only thirteen can be present to hear a case at any given time. The ECJ has jurisdiction over all matter of European Community law, but can not intervene with respect to national law. Every nation has its respective national legal system which the Union must respect. However, the ECJ ensures that EU level legislation is interpreted and applied in equal manner across the whole of the EU. This prevents national Supreme Courts from interpreting the same legislation differently. The Courts decisions are binding. For instance, a state that fails to implement a directive or a Commission that acts outside its delegated power has to answer to the ECJ. The Court also has jurisdiction over cases involving disputes between states, institutions, businesses and individuals A full tale of the ECJs jurisdiction includes the insurance that the law is observed in the interpretation and application of the Treaties of the European Union. This application must be uniform across all nations without bias or favoritism, hence the need for a Union-wide arbiter of the law. The court must also see that the provisions are laid down by Community institutions with the proper competence. The Court enjoys a wide latitude to hear various actions. Among other things the court may rule on applications for annulment or actions for failure to act raised by a member state or institution, actions against Member States for failure to fulfill obligations, references for a preliminary ruling and appeals against decision of the Court of First Instance Under Article 226 of the Consolidated Treaty Establishing the European Community (CTEEC), the ECJ may determine if a Member State has fulfilled its obligations under Community Law. A preliminary hearing will allow the erring Member State to reply to the complaint. If the hearing does not result in termination of the claim of failure by the Member State an action for breach of Community law may be brought before the European Court of Justice. Such an action is ordinarily brought to the court by a Member State by another Member State. If the court finds that the claimed obligation has not been fulfilled the erring Member State must terminate the breach with due haste. If the breach is not resolved within a reasonable time period upon the Request of the Commission, the European Court of Justice may impose a fixed or periodic financial penalty. In addition the court may also act on Actions for Annulment, Actions for failure to act, Applications for compensation based on non-contractual liability. The court can also rule of review on point of the law. The ECJ is the final arbiter with respect to the interpretation and application of community law. The Court of First Instance, deals with most cases before they are elevated to the ECJ. However, these two bodies are not the only judicial body tasked with interpreting the application of Community Law. The true court of first instance is actually the national courts. The national courts retain jurisdiction to review the administrative implementation of Community law. , for which the authorities of the Member State are responsible. It is because of this role that the National courts are the first guarantors of the Community law. Unfortunately, National courts are beholden to the nations in which they belong. It cannot be helped but for a justice to give his loyalty first to his country and second to the Union. Cynicism aside, there can and there have been occasions were the parochial interest of the state was upheld by the National courts over the fair and equitable application of the EU’s laws. It is in these circumstance that the Court must intervene. In Costa vs ENEL it was established that Community law takes precedence over the member states domestic law. Furthermore, in Simmenthal II the Court held that there is a Duty to set aside provisions of national law which are incompatible with Community Law. Hence, the Court justifies its rulings in favor of Community law over the parochial decisions of National Courts. Despite criticism that at time the court has overstepped its bounds and has interfered with local laws. The powerhouse economy of the EU is made possible by the elimination of Tariff barriers that once plagued the nations. Tariffs historically, made products of one nation less competitive in the market of another nation. For example, all things being equal, a bottle of wine produced in France will cost more than Italian wine in Rome because the French wine had to pay Tariffs. Articles 23 and 25 of the EC prohibit all â€Å"customs duties on imports and exports and of all charges having equivalent effect. This applies between Member States and also applies to customs duties of a fiscal nature. The ECJ has remained steadfast in upholding the Union’s commitment to Free Trade. The ECJ has ruled that ‘Goods’ are â€Å"products which can be valued in money and which are capable, as such of forming the subject of commercial transactions . † Hence, painting, sculptures and even musical recordings are ‘goods’ the establishment of tariff barriers against is disallowed. Even waste is capable of forming the subject of a commercial transaction A criticism against the ECJ is that at times it may overstep its bounds and interfere with the internal workings of a nation. For example, in Diamantarbeiders ; â€Å"A charge having equivalent effect to a customs duty is any pecuniary charge however small and whatever its designation and mode of application which is imposed unilaterally on domestic or foreign goods by reason of the fact that they cross a frontier and which is not a customs duty in the strict sense. This is the case even if it is not imposed for the benefit of the State [and] is not discriminatory or protective in effect, or if the product on which the charge is imposed is not in competition with any domestic product. Also in Bresciani Charges imposed for a public health inspection carried out on the entry of goods to a Member State can be a charge having equivalent effect to a customs duty. It was not important that the charges were proportionate to the costs of the inspection, nor that such inspections were in the public interest . Thus, the ECJ continues to maintain its commitment to free trade and the removal of all barrier to trade between Member States. The efforts of non-compliant Member States to form covert or hidden tariffs is vigilantly watch by the Court in order for it to act swiftly and decisively upon any breech that arises However, Court is not wholly without heart or willingness to render judgment based on its jurisdiction as a court of Justice AND equity. It is not utterly insensitive to the plight of Member States. In commission vs Germany it ruled that; A charge for a service will not be regarded as a customs duty where it: (a) does not exceed the cost of the service, (b) that service is obligatory and applied uniformly for all the goods concerned, (c) the service fulfills obligations prescribed by Community law, and (d) the service promotes the free movement of goods in particular by neutralising obstacles which may arise from unilateral measures of inspection . This decision is of interest because of its Solomonic approach, Germany at that time was suffering a period of economic dislocation and in a nut shell needed to be cut some slack. By allowing charges for a service to be accounted as not a customs duty, it allowed Germany a quantity of income. Strict rules were established to ensure that such allowance is not abused by Germany or any other Member State. However, the European Court of Justice still upheld its commitment to free trade. Art 90 of the EC provides that Member States are prevented from imposing, â€Å"directly or indirectly, on the products of other Member States any internal taxation of any kind in excess of that imposed directly or indirectly on similar domestic products. In Humblot it was held that the prohibition extends to internal taxation of such a nature as to afford indirect protection of product†. This case was an example of how pervasive and at times invasive the European Court of Justice can get in upholding its mandate. The European Court of Justice has a mandate to protect the Community Law. At times it must do so over the heads of Member States who have put parochial interests before the good of the Union. Fortunately, the Court has been granted sufficient mandate and jurisdiction to uphold the its commitment to Free Trade. The Court is at times criticized for being too invasive and interfering even with the internal workings of a Member State. The Court is also lambasted from being overly committed and ignoring the facts of the ground, or the special circumstances which might merit certain exceptions. As was noted in the Germany case, this is not so. Despite its mandate, the Court remains sensitive to the needs of individual nations some of which may require some temporary consideration in order to adjust and eventually be full partners of the European Union.

Identity concepts Essay Example for Free

Identity concepts Essay Identity is the conceptual understanding that human beings hold for their existence. It is the totality of knowledge and understanding of an individual for his self. Identity is composed by physical, social and psychological attributes which differ from one individual to another. The tenet for the development of one’s identity is attributable to the development of the roles that an individual plays within a group. It follows that the roles that they play in a group contributes to the self-categorization of an individual that helps in the formation of someone’s identity. For the purpose of this paper, Abraham Maslow and Carl Roger’s theories regarding personality and identity development will be tackled to assess their contribution in the understanding of identity concept. First, Abraham Maslow’s Theory of Human Motivation is one of the most influential theories in this field. His proposed theories were more simple and more appealing which acted against reductionism and his personality research theory is more holistic than others works. Theory of Motivation is characterized by the hierarchy of needs. This theory presupposes that the needs of an individual rest on the basis of satisfaction of other needs. Meaning, as one satisfies the most basic of his needs, there arises another set of needs, higher than the previous ones and entail another set of challenges that the individual must go through. This process, as it progresses addresses higher needs, until the individual reaches satisfaction for his highest needs and fulfills self-actualization, which in Maslow’s theory serves as the highest form of identity and personality development for an individual. Self-actualization entails the fulfillment of a person’s highest desires and attainment of his full potentials. Hence, the importance of Maslow’s theory is that it established human being’s five basic needs: physiological, safety, love, esteem and self-actualization. This theory has set a goal for individuals to pursue first the most pre-potent of his needs in order to progress into the achievement of other higher needs. This theory therefore guides an individual that the achievement of one basic needs progresses to a higher need, thus increasing his consciousness and allowing himself to attain higher needs that shall be translated to the individual’s pursuit for higher competency and identity enhancement. On the other hand, Carl Roger’s theory is set on a clinical one, basing his assumptions on his experiences in dealing with his clients. Like Maslow’s, his theory his set on what he calls â€Å"the actualizing tendency†. According to Roger, this is a â€Å"force of life† that is built within an individual to create a motivating force that shall push individuals to extensively seek ways to develop his full potentials. Furthermore, he states the assumptions that since humans are social creatures, it is innate for human to create a society and build a culture in the process of actualizing their potentials. His theory also gives value to positive self-regard – which he defined as humans craving for love, affection and nurturance. This positive self-regard plays an integral part of an individual’s growth in such a way that, as an individual grows up and in the process wherein he seeks for actualization of his potentials, receiving positive self-regard from the society around him gives him self-esteem and a positive self-image that renders him the inspiration to perform better and strive harder to succeed. In accordance, without this positive self-regard, individuals would tend to feel helpless and would make them less enthusiastic into achieving his goals. Roger’s theories on personality development have contributed a lot in the concept of identity. Like Maslow’s theory, he constituted steps for the development of a healthy person, which he termed as a â€Å"fully functioning† person. These steps which included openness to experience, existential living, organismic trusting, experiential freedom and creativity served as guidelines for a well-rounded and healthy development of identity for an individual. These steps, like Maslow’s theory shall constitute for the pursuits of an individual towards self-actualization. For the comparison between the two theorists and their contribution to the development of the concept of identity, the two theories speak of the utter importance for an individual to fulfill his basic needs first before attempting to levitate higher. Both of their theories were geared towards the achievement for self-actualization. They both define self-actualization as the desire to fulfill life’s greatest aspirations and discover the fullest potentials of a person. As such, Maslow and Roger can be considered as two of the most influential theorists in this field. Both of them has succeeded in imparting their thoughts and their ideas have until now are still encompassing and widely used by contemporary theorists and psychologists. Their theories have served as starting points for further developments and have served critical to the growth of new theories regarding identity concepts. Bibliography Boeree, George, Personality Theories: Carl Rogers, Retrieved 7 November 2007 http://webspace. ship. edu/cgboer/rogers. html Burke, Peter and Stets, Jan, Identity Theory and Social Identity Theory, Washington State University, Retrieved 7 November 2007 http://wat2146. ucr. edu/Papers/00a. pdf Green, Christopher, A Theory of Human Motivation by Abraham Maslow, Retrieved 7 November 2007 http://psychclassics. yorku. ca/Maslow/motivation. htm.

Jetblue Airways SWOT and Financial Analysis

Jetblue Airways SWOT and Financial Analysis Executive summary In this report, the financial position of JetBlue Airways Corporation, a low-fare, low-cost passenger Airline Company serving the US market, is studied in order to provide recommendations to the company with regards to its investments plans. By the year 2003, the company is intending to support its growth through the acquisition of several new aircraft over the coming 13 years. The company will thus need a high capital expenditure to support those acquisitions, as well as several related investments. For the purpose of this study, a SWOT analysis of JetBlue as by its position in June 2003 is performed. A background research is conducted in order to assess how other airline companies are financing their aircraft acquisitions and other investments, and in a broader aspect, study the specificities of their financial structures. The different financing alternatives available to the company are presented and studied in relation to the financial position of the company. A non-financial analysis of the debt and equity options is conducted, in order to assess the relevance of each of those options with regards to all areas of the business other than finance. The outcomes of those analyses are combined and a recommendation is issued to the Chief Financial Officer of JetBlue: It is recommended that the company issues common stock in order to finance the needed investments in the second half of 2003. In a longer-term perspective, it is recommended to the company to use leases and secured debt for the upcoming aircraft acquisitions when favorable terms are available to the company, and to finance the remaining parts of the investments through cash generated from operations and through issuance of new equity, in order to compensate for the increasing financial and operational risks of the company. Problem Definition JetBlue Airways Corporation is a low-fare, low-cost passenger airline company serving the US market. The company completed an IPO in April 2002, around two years after it was founded. JetBlue has had a successful business model and strong financial results during that period, and performed well in comparison to other airline companies in the US during the period between 2000 and 2003. The company, as by July 2003, is seeing several opportunities to grow by adding new markets and new flights to existing destinations. To accomplish this growth, the company is seeking to purchase 65 new Airbus A320, with an option to buy additional 50 ones, and also committed to purchase 100 Embraer E190 aircraft, with the option to purchase 100 additional ones. The company needs thus to think about a way to finance those acquisitions, as well as other needed investments such as spare parts, new engines, additional hangars and a flight training center. John Owen, the Chief Financial Officer of JetBlue, is in charge of finding the best financing scheme for the company. The problem facing John Owen is twofold: First, he needs to finance the acquisitions planned for the second half of 2003. Indeed, for the period from July 1 to December 31, 2003, the company has committed to purchase 8 Airbus A320 aircraft, for a total amount of $305 million to be paid in 2003 (Exhibit 8). The company is generating cash from its operating activities that amounted to $129,725 thousand for the first half of 2003, and already generated $238,989 thousand from financing activities (Exhibit 6). This will cover for part of this capital expenditure estimated at $570 million for 2003 (Exhibit 9). So John Owen needs to finance the remaining part of this capital expenditure. Second, John Owen needs to think about a long-term financing strategy. Indeed, JetBlue is committed to the purchase of 207 additional aircraft for a total amount of $6.86 billion over 8 years. Owen has to think about the best capital structure for the company and thus the best financing strategy for JetBlues investments, including the aircraft acquisitions and the related investments. SWOT Analysis Strengths The first strength of JetBlue is its founding teams background. Indeed, the company was founded by a veteran in the low-fare airline industry, backed by a group of private equity firms. The management of the company has also the expertise of leading a publicly held company, following the IPO in 2002. The company has a successful business model and exhibits strong financial results, as well as strong revenue growth despite the downturn in the industry following the terrorist attacks of September 11, 2001. Thus, JetBlue is a perceived as a solid and growing company by the investors. The low operation costs of JetBlue are one of the most important strengths of the company. The company is utilizing aircraft efficiently generating more revenue per plane. The company is also operating one type of aircraft, the Airbus A320, thus lowering maintenance and training costs and spare parts needs. The workforce of JetBlue is non-unionized and does not benefit from strict work regulations. The distribution costs of JetBlue are also low. Indeed, the company does not provide any paper tickets. The company operates only new airplanes, thus minimizing maintenance costs and offering a good â€Å"flying experience† to its customers. The company also benefits from its reliable on-time performance, comfortable airplanes, and friendly flying personnel to attract and secure its customer base. The company serves densely populated cities in underserved airports, with high fares. This strategy helps the company capture market share in these segments. The company is financing its existing aircraft through secured debt and operating leases, on favorable terms. Those financing possibilities are still available for the company for additional aircraft purchase. Weaknesses A considerable weakness of JetBlue is its small size. The company is operating 42 aircraft, for 73 flights per day and annual revenues of $635 million. The company can probably not rely on its personnel loyalty, due to the non-advantageous working conditions and regulation. The company is operating only one type of airplane, the Airbus A320. This represents a weakness for the company as well. Indeed, the planes have the same age and might all suffer at the same time from an eventual recurrent technical problem on this type of aircraft, which should be catastrophic for the company. JetBlue does not have a line of credit, or short-term borrowing facility. Therefore, the company depends on its operating cash flow to finance its short-term and working capital obligations. The balance sheet of the company also needs to be strengthened. JetBlue also faces one of the airlines principal risks which is the rising fuel price. The company is spending a considerable amount of money in hedging for fuel prices volatility. In addition, as the company is relatively consuming low volumes of fuel, it can suffer from significantly higher prices in case of fuel shortage. JetBlue is a levered company. With a short-term debt of $26,580 thousand and a long-term debt of $731,740 thousand as by June 2003, and equity of $480,594 thousand, the companys leverage ratio is 157.8%, whereas the industry average is around 129.46% (Infinancials). Opportunities Internal The purchase of the new 100-seat Embraer E190 aircraft would allow JetBlue to enter smaller markets while maintaining low operating costs, and increase flight frequency on existing routes. The private placement of convertible debt proposed by JetBlues investment bankers would provide sufficient capital at relatively low interest rates. JetBlue is a fast growing company, and should thus bear having less debt. The company has thus the opportunity to raise additional equity. External The low fares offered by JetBlue would allow it to attract new passengers who might otherwise not fly. The mid-sized market that JetBlue intends to enter will represent a new opportunity for growth to the company. By expanding its activities, the company will purchase larger volumes of jet fuel and would thus have more leverage in procuring fuel than today. The company will thus suffer relatively less from fuel shortages. Threats Internal The company is intending to grow and become an airline company â€Å"like the others†. JetBlue might thus lose its advantages from being low-cost, small and highly profitable. The company is clearly departing from its strategy, which has been the source of its strengths up to 2003. JetBlue plans to purchase a new type of aircraft, the Embraer E190. This is again a departure from the companys initial strategy which is to operate only one type of aircraft. JetBlue might thus incur higher maintenance and training costs, higher spare parts and engines costs, and some negative impact on the maintenance scheduling. JetBlue plans to increase its aircraft fleet from 45 to 252. In addition, the company plans to invest in other domains such as spare parts, new engines, additional hangars and a flight training center. This represents a very big investment and thus a consequent threat for the company. Such an investment will let the company more exposed to financial distress and raises the question of the management ability to cope with such a rapid expansion. The company board members are very concerned about dilution. There is a threat that they will not support John Owen, the CFO, if he recommends to raise new equity capital. With the rapid expansion of the company, the jet fuel expenses, as well as the cost of their hedging will grow rapidly. The company will be more exposed to both the fuel price volatility and the growing cost of hedging it. As the company will get bigger, with higher manpower, those might want to be unionized. External The fuel price is also an external factor due to its non-predictable volatility. JetBlue plans to be the launch customer for the new Embraer E190 aircraft. Although this allowed probably the company to have a price discount, it is also a threat. JetBlue might be exposed to technical and/or non-technical problems that have been not detected by the manufacturer or other users of the jet. The reason for the company to go public was to wean off its dependence on the venture capital and private equity industries. Issuing private debt securities represent a threat for JetBlue as this might lock back the company to such private investors. In addition, those investors and the private investors in general might not be interested by the eventual convertible debenture issued by the company. JetBlue is a small client of Morgan Stanley, the investment bank in charge of proposing financing alternatives for the company. Morgan Stanley might thus charge heavily JetBlue, and/or try to bias the companys choice for its benefit. The competition from other low-cost and regular airline companies which might try to counter JetBlues expansion. The revenues of the company and its growth aspirations are subject to the economic conditions. An economic downturn or additional terrorist attacks might impact negatively JetBlues ability to finance its debt obligations. The company will also have to secure additional airport gates which will represent a threat for the company in case it cannot negotiate advantageous conditions as with underserved airports. The alternatives In order to finance the acquisitions planned for the remaining part of 2003, JetBlue received two financial propositions from the investment banks. The first alternative is to issue additional 2.6 million shares at an estimated $42.50 per share. JetBlue will thus be able to raise up to $110.5 million. The fees and commissions of the bank for this proposal amount to $3,591,250 which represents a cost of 3.25%. The second proposal from the investment banks is to issue $150 million in a private placement of convertible debentures. The debentures will be a 30-year convertible debt with a coupon rate of 3.5%. In addition, the debt will be convertible into shares of JetBlue at $63.75 per share, which represents a conversion rate of 15.6863 shares per $1,000 principal amount of notes. The notes will be unsecured obligations and will rank equal in right of payment with all other unsecured debt. Currently, all of JetBlues debt is secured. The bank will not charge any additional fees for this alternative. JetBlue can consider some other alternatives as well. Indeed, the company can issue some preferred stock. This stock might be considered as equity in accounting, to strengthen the balance sheet of the company, but will at the same time accommodate the board members concern about dilution. This preferred stock option might however fail to attract investors. Another alternative might be the issuance of simple corporate bonds. The coupon rate for those will however be higher than the 3.5% of the convertible bonds. This option will thus cost more for JetBlue than convertible bonds, especially before the companys shares price eventually exceeds $63.75. Issuing public corporate bonds will have higher cost for the company as well. Indeed, those need to be ranked by some ranking agencies and will have higher coupon rates (Exhibit 12). Two other alternatives exist for JetBlue, for the aircraft acquisitions financing: The operating lease and the secured debt (each acquisition debt is secured by the acquired aircraft). Those two options are available for JetBlue at advantageous conditions. Thus, the alternatives that will be retained for the remaining of the analysis are the operating lease and secured debt for the aircraft acquisitions, and the equity issuance and the convertible private bonds for the acquisitions and the other investments. Background Research Some background research has been performed in order to assess how other airline companies are financing their aircraft acquisitions and other investments, and in a broader aspect, study the specificities of their financial structures. This study included some regular as well as low-cost airline companies. British airway, for example, is financing its aircraft acquisitions through debt, all of which being asset related. The group is principally using finance leases and hire purchases contracts to acquire aircraft (British Airways Annual Report 2010, p.104). Delta Airlines, on its side, is using pass-through certificates to finance aircraft (Delta Airlines Annual Report 2010, p.34). In addition, the company has $5.2 billion of loans secured by 287 aircraft (Delta Airlines Annual Report 2010, p.72). United Continental Holdings has a high amount of obligations, including debt, aircraft leases and financings (United Continental Holdings Annual Report 2010, p.53). A substantial portion of the companys assets, principally aircraft, are pledged under various loans and other obligations. The company also uses secured notes, equipment notes, pass-through certificates and multiple financings secured by certain aircraft spare parts, aircraft and spare engines (United Continental Holdings Annual Report 2010, p.55). United Continental Holdings also raises cash from issuance of common stock (United Continental Holdings Annual Report 2010, p.56). The low-cost airline companies seem to be, on their side, more conservative. Indeed, EasyJet is adopting a conservative capital structure policy, including a liquidity target of  £4 million cash per aircraft, and a 50% limit on net gearing (EasyJet Annual Report 2010, p.9). All of the companys debt is asset related (EasyJet Annual Report 2010, p.85). The company holds 62 aircraft under operating leases and 8 aircraft under finance leases, out of 196 total aircraft, principally Airbus (EasyJet Annual Report 2010, p.87). RyanAir, another low-cost airline company, has a fleet of 232 Boing 737-800s. The company makes its firm-order purchases through a combination of bank loans, operating and finance leases and cash flow generated from the companys operations (RyanAir Annual Report 2010, p.42). Both RyanAir and EasyJet exhibit a capital structure that relies less on debt than the regular companies counterparts, as illustrated by the following table: It is important to mention that some small airline companies choose to issue bonds for their investments as well. SpiceJet, an Indian airline company operating to Mumbai, Bangalore, Ahmedabad, Pune, Goa and Delhi issued in 2005 foreign currency convertible bonds worth $90 million to fund aircraft acquisitions (IndiaAviation, 2005). All in all, airline companies are using both debt and equity (together with other financing means, including cash flows generated from operations) to raise money. In its ‘Airlines return to capital markets article, David Knibb (2009) summarizes the ways several companies found financings: Lufthansa, Air-France KLM, British Airways, Air Canada, Australias Virgin Blue, Avianca and Indian carrier Kingfisher all issued bonds during 2009. AMR used private lenders to borrow money. Some other companies, smaller, chose to issue shares: SAS, Virgin Blue, AirAsia, Kingfisher, and Icelandair. From this study, it appears that the majority of airline companies are financing their aircraft acquisitions, apart from using cash flow generated by operations, through debt, either leases or secured debt. Other investment needs are financed either through debt or equity, depending on the companies. However, a common trend to low-cost companies seems to be their conservative financial structures, in comparison to bigger, regular airline companies. Financial Analysis of the Alternatives As per June 2003, JetBlue Corporation has a short-term debt of $26,580 thousand, a long-term debt of $731,740 thousand and equity of total $480,594 thousand (Exhibit 5a). In order to compute an average interest rate for the company, data from 2002 are used: The interest expenses for this year equaled $10,370 thousand (exhibit 4), for a total long-term debt of $690,252 thousand (Exhibit 5a), thus an interest rate of 1,5%. The tax expenses as per June 2003 are of $40,188 thousand for a total earnings before tax of $95,503 thousand (exhibit 4), thus a corporate tax rate of 0.42. From exhibit 1, the JetBlues equity beta during the period from April 2002 to June 2003 is 0.69. As per the data from Exhibit 5a for June 2003, the financial structure of the company was as follows: From the Hamadas formula, we can compute the unlevered beta of JetBlue as follows: Beta(u)=Beta(l)/[1+(1-T)*(Wd/We)] With Beta(l)=0.69, T=0.42, Wd=61.21 and We=38.79 Thus Beta(u)=0.36 In addition, from exhibit 12, the Treasury bill interest rate as of June 30, 2003 is 1.09%, this will be used as the risk-free rate of return. Assuming a market rate of return 9 points higher than the risk-free return, we can use the WACC spreadsheet in order to estimate the financial structure of JetBlue that minimizes the WACC of the company: Appendix 1. It turns out that the company has an optimal financial structure, minimizing its weighted average cost of capital, following those estimated figures. Any of the two options, either the convertible debt or the equity, will probably pull the financial structure from its current optimal position. For the first alternative, the convertible debenture, the coupon rate of this bond is 3.5%, for a total amount of $150,000 thousand. The weighted average cost of debt for JetBlue, if they issue such bonds, will be: [(3.5%*150,000)+(1.5%*731,740)]/(150,000+731,740), thus 1.84%. The financial structure of JetBlue will be as follows: Using the WACC spreadsheet, we can see the companys financial position with regards to the optimal financial structure of JetBlue following the new cost of debt: Appendix2. If JetBlue chooses the debt option, the financial structure of the company will no more be the one offering the minimal WACC. The same analysis can be done for the second alternative. Following the shares issuance, the financial structure of JetBlue will be as follows: Using the WACC spreadsheet, we can see the companys financial position with regards to the optimal financial structure of JetBlue following the raise in equity: Appendix3. From this analysis, it can be noted that JetBlue will still have a financial position that minimizes the companys weighted average cost of capital, thus maximizing the overall value of the companys stock. It can be concluded, from a financial point of view, that the best alternative for the investments planned for 2003 is the equity issuance. Non-Financial Analysis JetBlues passenger revenues knew a steady growth from 2000 ($101,665 thousand) to 2002 ($615,171 thousand). The revenues are forecasted to continue to grow up to a level of $1,796.9 million in 2005 (Exhibit 9). This revenue stability and expected high growth provide a strong confidence to JetBlue in its ability to meet its financial obligations, thus having the opportunity to issue either debt or equity. The companys assets amount to $1,565,322 thousand as per June 2003. Those assets are principally composed by operating property and equipment, which are pledged under the operating leases and secured debt of the company. If JetBlue chooses to finance its future aircraft acquisitions by debt, the acquired aircraft can be used to secure the corresponding debt. JetBlue, as any airline company, incurs very high fixed costs due to its high value operating property and equipment. The company has thus a very high operating leverage and is greatly exposed to the risk of cash flow projections errors in case it does not meet the projected revenues figures. Any variation in the estimated revenues, might lead the company to a position where it could not meet its financial obligations related to debt. From this point of view, JetBlue needs to secure its cash flows. As stated earlier, the company revenues knew a high growth for the precedent years and are expected to continue growing steadily. This high level of growth allows the company to rely on equity. JetBlue is a profitable company, in comparison to peers, as stated in the following graph: JetBlue exhibits good levels of gross margin and operating margin. Furthermore, the companys return on sales, return on assets and return on equity are higher than industry averages and the company can be said to be quite profitable in comparison to company peers. This offers some flexibility to the company to rely on debt. JetBlue has a high level of tax rate (0.42), this allows the company to have an even lower cost of debt and offers the company the advantage of being able to rely more on debt in order to minimize its weighted average cost of capital. All of the companys debt is secured. In addition, the company does not have any line of credit, or short-term borrowing facility. The company does therefore not have any control restrictions or obligations towards its creditors. The shareholders of the company are on their side very concerned about any dilution. This fear of losing the control of the company limits the possibility of the CFO to issue new equity. The founding and managerial team of JetBlue is issued from the airline industry. They are used to manage a highly leveraged and public company. They should thus have a positive attitude towards high levels of debt. They should be able to deal with the opposite aspect (issuing more equity) as well. JetBlue does not need any rating agency for the issuance of the bonds, as those are private. The alternative of issuing public bonds has been eliminated as this one will incur higher costs for the company. The lenders of the company seem on their side to have a positive attitude towards the company, which should be able to issue additional secured debt for its aircraft acquisitions with advantageous conditions. The company has been performing well in the recent years. However, many major US air carriers struggled between 2000 and 2003, and some of them filed for bankruptcy protection. The market is impacted by a general economic slowdown caused partly by the terrorist attacks of September 11, 2001. The market is also subject to big variations depending on several unpredictable factors, like political stability, weather conditions, natural disasters, terrorist attacks etc. All of this calls for some financial conservatism for the airline industry. The internal stability of JetBlue will probably continue to hold, unless the company faces some financial distress, or if the shareholders are no more supporting the management team. From a short-term point of view, John Owen might lose the shareholders support if he goes for equity issuance. From a mid to long-term point of view, he might as well negatively impact the internal stability of the company if he is not conservative enough to avoid any financial distress situation. The debt offering will afford JetBlue less financial flexibility, especially due to the jet fuel prices. If fuel prices rise, this will incur less operating income and thus some difficulties to the company to meet its additional debt service payments. Owen has also to review his hedging strategy of the fuel prices volatility: If the company chooses to hedge more of its fuel consumption, it will incur much higher hedging costs. If on the contrary the company chooses to reduce hedging costs, it will be more exposed to financial distress when the prices increase. Conclusion: The best solution JetBlues market capitalization can be estimated at around $3.12 billion (74,423,693 * $41.98) as per June 30, 2003. The company is intending to grow heavily in the following years, and has plans to acquire 207 new aircraft for a total $6.86 billion up to 2011,

Modern Art Essay -- Comparative, Mondrian, Pollock

Piet Mondrian and Jackson Pollock are both regarded as being major influences within the movement of modern art. During the peak of their careers their artwork took on very different styles. Mondrian was born in 1872, he was a Dutch artist, is famously known for his precise, systematic style of painting. He is renowned for the grid-based paintings that he produced in the early 1920’s during his time in Paris (wilder, 2007 p.318). Jackson Pollocks work was erratic and spontaneous, this is particularly noticeable in the late 1940’s when he produced an array of works using a drip painting technique (ref). Despite the works of Mondrian and Pollock being at opposite ends of the scale when it came to style and imagery, is it possible their influences and views were in fact quite similar? Along with their style of painting, the personalities of the two men were to match. Piet Mondrian enjoyed a modest lifestyle and didn’t experience a huge amount of fame until the late 1950’s after his death, and his work was mainly supported by the occasional magazine article and art exhibition (Blotcamp, 2001 p.9). In comparison Pollock was considered the James Dean of the artistic world, he was notorious for having a wild, rebellious nature, often drinking to suppress his emotions or insecurities (Landau, 2005 p.18). Unlike Mondrian he attracted a lot of attention within his lifetime, and enjoyed the fame and appreciation his work was bringing. His partner Lee Krasner, Whom he married in 1946, was a determined, levelheaded young artist, and was believed to be a strong influence towards the recognition of his work (Karmel and Varnedoe, 1999 p.25). It could be perhaps said have the support of a strong woman is incredibly influential to an artist, espec... ...(ref), trainers and cars to name a few. Like wise Pollock’s work has been used in the design of fashion, and many people have attempted to recreate his work, because the style of it was so unusual, Pollock was aware the technique of dripping paint wasn’t a completely new idea (ref) but he was the person who made it commercially famous within the and art world, hence his fame and notoriety. Despite their mistakes and fails they strived to express themselves. Pollock openly said he doesn’t make accidents, he denies the accident, and Mondrian felt his failures were valuable to his success, he never made mistakes; everything was a contribution to his work (Riley, 1997 P.9). Despite their ups and downs the two iconic pieces created by Mondrian and Pollock, Composition in red black and blue and number 8 represents the style they are renowned for and their personalities. Modern Art Essay -- Comparative, Mondrian, Pollock Piet Mondrian and Jackson Pollock are both regarded as being major influences within the movement of modern art. During the peak of their careers their artwork took on very different styles. Mondrian was born in 1872, he was a Dutch artist, is famously known for his precise, systematic style of painting. He is renowned for the grid-based paintings that he produced in the early 1920’s during his time in Paris (wilder, 2007 p.318). Jackson Pollocks work was erratic and spontaneous, this is particularly noticeable in the late 1940’s when he produced an array of works using a drip painting technique (ref). Despite the works of Mondrian and Pollock being at opposite ends of the scale when it came to style and imagery, is it possible their influences and views were in fact quite similar? Along with their style of painting, the personalities of the two men were to match. Piet Mondrian enjoyed a modest lifestyle and didn’t experience a huge amount of fame until the late 1950’s after his death, and his work was mainly supported by the occasional magazine article and art exhibition (Blotcamp, 2001 p.9). In comparison Pollock was considered the James Dean of the artistic world, he was notorious for having a wild, rebellious nature, often drinking to suppress his emotions or insecurities (Landau, 2005 p.18). Unlike Mondrian he attracted a lot of attention within his lifetime, and enjoyed the fame and appreciation his work was bringing. His partner Lee Krasner, Whom he married in 1946, was a determined, levelheaded young artist, and was believed to be a strong influence towards the recognition of his work (Karmel and Varnedoe, 1999 p.25). It could be perhaps said have the support of a strong woman is incredibly influential to an artist, espec... ...(ref), trainers and cars to name a few. Like wise Pollock’s work has been used in the design of fashion, and many people have attempted to recreate his work, because the style of it was so unusual, Pollock was aware the technique of dripping paint wasn’t a completely new idea (ref) but he was the person who made it commercially famous within the and art world, hence his fame and notoriety. Despite their mistakes and fails they strived to express themselves. Pollock openly said he doesn’t make accidents, he denies the accident, and Mondrian felt his failures were valuable to his success, he never made mistakes; everything was a contribution to his work (Riley, 1997 P.9). Despite their ups and downs the two iconic pieces created by Mondrian and Pollock, Composition in red black and blue and number 8 represents the style they are renowned for and their personalities.

Cocaine :: essays research papers fc

  Ã‚  Ã‚  Ã‚  Ã‚  For many centuries people have used different drugs for various reasons. Depending on which decade you are in there are particular drugs of preference and abundant usage. Cocaine is most commonly used among 18-25 year olds rather then other age groups. I chose cocaine because it is what effects people my age most commonly.   Ã‚  Ã‚  Ã‚  Ã‚  Cocaine was first used in the late 1800’s as a local anesthetic during surgeries. Cocaine is considered the most potent stimulant of natural origin. Cocaine can be used in many different ways. Snorting cocaine is the quickest way to use the drug. The drug is snorted through the nose and absorbed by the nasal tissues and spread through the blood stream. The quickest way to feel the impact of the drug is through injection. The drug is directly injected into the bloodstream causing immediate effects. The last way is inhalation. Cocaine can also be smoked by which it is inhaled into the lungs then into the bloodstream. Inhalation can be as rapid as injection. Another form of cocaine is known as crack. Crack is processed with ammonia or baking soda and water; it is then heated to a smoke able consistency.   Ã‚  Ã‚  Ã‚  Ã‚  According to Office of National Drug Control Policy (ONDCP) in 2002 there were an estimated 1,059,000 new cocaine users in the United States. The average age of those who first used cocaine during the year was 20.3 years. Sadly in 2003-2004 approximately 34.9 million Americans over age 12 had tried cocaine at least once. The numbers are sad and shocking but amazingly continue to increase throughout the years.   Ã‚  Ã‚  Ã‚  Ã‚  Many health factors and risks arise with the use of cocaine. Cocaine is a central nervous system stimulant. Physical effects of cocaine use include constricted blood vessels and increased temperature, heart rate, dilated pupils, increased energy and increased blood pressure. Cocaine use in its early stages is often hard to detect. Some of the signs of possible cocaine use are, nosebleeds, lose of appetite, stealing from loved ones for money, and lying. A cocaine user, once dependant, will experience stomach cramps, increased heart rate and random cold sweats. Some other long-term effects of the use of cocaine are paranoia, irritability, restlessness, auditory hallucinations, mood disturbances and many others. Users may also experience feelings of restlessness, irritability, and anxiety (NIDA). Many people who inhale the drug may suffer from acute respiratory problems including coughing, shortness of breath, and severe chest pains with lung trauma and bleeding.

Workplace Violence Essay -- Workplace Health and Safety

Workplace Violence According to the FBI, workplace violence is the number one growing homicide in the United States. There are an estimated 225,000 to 300,000 occurrences of violence each year. Despite the aforementioned statistic, some managers have simply failed to address the issue of workplace violence. Such negligence has not necessarily been purposeful. It has been due to a lack of awareness of the problem coupled with a preoccupation of everyday pressures. Many managers view workplace violence as just another workplace scourge such as sexual harassment--another governmental compliance burden. Unlike sexual harassment, workplace violence has resulted in people dying and that is precisely why it must be stopped. Sadly, far too many perpetrators have been allowed to come to Afull blossom@ right under the nose of a manager. For example, statistically, Athree-quarters of documented perpetrators showed warning signs. With the aforementioned statistic in mind, this paper will show some aspects of workplace violence that managers should look for in both their employees and their organizations, so as to spot and prevent workplace violence. Profiles Profiling potentially lethal employees or perpetrators is an exercise in both art and science. There is no question profiles can come in many forms and that many potential workplace murderers will not match any defined profile. Nonetheless, there are patterns evident in the behavior of workplace violence that make the effort of profiling them worthwhile and important to any organization. The violent individual often telegraphs his violent intentions before acting upon them, which may help to predict violence. The profile itself has been constructed to reflect two maj... ...ago: University of Chicago Press. Cascio, B.C. (1993). Antisocial Behavior in Organizations. New York: Haworth. Federal Bureau of Investigation. (1998). Statistical abstract of violent crimes in the United States (59th ed.). Washington, DC: U.S. Government Printing Office. Fox, P.D., & Levin, D. (1994). Breaking Point: The Workplace Violence Epidemic and What to Do About It. Chicago: Doubleday. Hesket, K.B., (1996). Essentials of Managing Workplace Violence. New York: Haworth. Kirkwood, M.E., (1993). Profiling the Lethal Employee: Caase Studies of Violence in the Workplace. Los Angeles: Coward, McCann & Geoghegan. Kurlad, J., (1998). Preventing Workplace Violence: Positive Management Strategies. New York: Holt. Lock, N. (1997, July 13). Tragedy Strikes Again. L.A. Times, pp. A1, A22. Webster=s Dictionary (9th ed.). (1972). Chicago: Webster=s.