...Questionable cost-benefit analysis by Ford In 1968, Lee Iacocca, president of Ford Motor Co., faced fear of losing market share in subcompact auto market by German Auto, Volkswagen. Although the automobile preproduction process usually takes three and a half years, Ford made it within two years from designing phase to releasing to the market. Market seemed to be impressed by Ford, but it did not go last that long. Pinto had a critical problem that its fuel tank cannot withstand any rear-impact over 20mph speed. The fuel tank would rupture and cause fire. Moreover, Ford’s directors and their engineers already realized this issue and the potential number of people would die from fires due to Pinto’s defective design. There were remedies for Ford that they can either give up some trunk space or increase cost by putting rubber bladder for protection. However, Ford chose neither of options, rather they analyzed the cost of settlements potentially be incurred by car accidents and decided to stick with the original design as a result of profit maximization in that way. Within seven years since Pinto had been released, over 500 deaths and indeterminate numbers of injuries were caused by Pinto crashes and majority of those killed had no other injuries, meaning they burned to death. How much worth one’s life be valued in terms of dollar amount? How much is enough to pay for victim’s pain and suffering? How can you predict the number of people will die or get injured through newly introduced...
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...“Mama Might be Better off Dead: the Failure of Healthcare in Urban America,” is a novel written by Laurie Kaye Abraham that tells the story about urban healthcare by following the life of a family living at Chicago’s North Lawndale neighborhood for one year, known as the Banes’ family. Even though this novel focused on telling the readers about urban America’s health care system, we still can see and learn about the family values and trajectories of this Banes’ family when we were reading this book. It is because, the author illustrate this story through one’s family narrative. An analysis of this family’s experiences and trajectories can be best determined by using the life course perspective and also by using the conflict theory. Life course...
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...Annual Worth Analysis Basics So far we learned PW and FW as comparison tools AW analysis is said to be the best comparison tool. AW value is the equivalent uniform annual worth of all estimated receipts and disbursements during the life cycle of the project or alternative AW value is equivalent to the PW and FW values at the MARR for n years AW = PW (A/P, i, n) = FW (A/F , i, n) where n is the number of years for equal-service comparison. When all cash flow estimates are converted to an AW value, this value applies for: every year of the life cycle for each additional life cycle The prime advantage of AW analysis is: 1 2 AW value has to be calculated for only one life cycle not necessary to use the LCM of lives as it is for PW and FW . IE 347 Week 5 Industrial Engineering Dept. 1/8 Dr.Serhan Duran (METU) Annual Worth Analysis Basics When alternatives being compared have different lives, the AW method makes the assumption that: 1 2 3 The service provided by alternatives will be needed for at least the LCM of years or more The selected alternative will be repeated over each life cycle of the LCM in exactly the same manner The cash flow estimates will be the same in every life cycle Example Eric Forman, a project engineer is assigned to start up a new office in Wisconsin. Two lease options are available: Location A Location B First cost, $ $-15,000 $-18,000 Annual lease cost, $ per year -3,500 -3,100 Deposit return, $ 1,000 2,000 Lease term...
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...Topic Error analysis on written English of two public and two private universities students Abstract This study seeks to identify and analyze errors by means of error analysis procedures. The objective of this study was investigating the written English errors of University students in males and females universities in Dhaka. It was conducted on purpose of identifying The written errors of English committed by the university students, estimating the predominant errors And the least ones and explaining the causes of the written errors of English committed by the University students .The sample of study consisted of 4 student selected from public and private university in Dhaka. Introduction Learning a Second Language (L2) is a lifelong process and it is often a challenging experience for L2 learners. Presently, English is an international language and is used as the language in international relations, and in exchanging knowledge and technology. It is not easy for anybody to deny that English is one of the most important languages in the world. It is seen by large number of people as the language of art, science, politics and economics. So when one wants to cope with what happens in the world he must learn English language. Languages are of four Skills. English language is not an exception. It consists of four skills: listening, speaking, reading and writing. One of the most important components in English language is writing skills. The ability to write...
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...The most common evaluation techniques include 1. Present worth analysis, 2. Annual (periodic) worth analysis, 3. Future worth analysis, 4. Internal rate-of-return, 5. Benefit-cost ratio, and 6. Payback period method. Below is a discussion of each of these techniques. Present Worth (PW) Analysis Objective: To evaluate and compare mutually exclusive alternatives based on the equivalent netpresent worth of the lifecycle cash flows for each alternative at a given minimum attractive rate of return (MARR). • The net present worth is computed as Net PW = PW(Revenues) – PW(Costs) • The cash flows include all life-cycle revenues and costs, i.e., all revenues and costs over the service life of the project or investment. • A zero or positive “Net PW” indicates a “profitable” or “economical” project or investment. • A positive “Net PW” indicates that the investment or project has an annual rate of return greater than the MARR. • A zero “Net PW” indicates that the investment or project has an annual rate of return exactly equal to MARR. • Similarly, a negative “Net PW” indicates that the investment/project has an annual rate of return less than MARR, hence, not preferable. • When comparing alternatives, the alternative with a higher “Net PW” is preferred over one with a lower “Net PW”. • Comparing alternatives using the “Net PW” criteria has to be done based on the same analysis period or lifetime for the alternatives....
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...Therefore, it is vital for the firm if they wish to continue receiving funds from shareholders to employ the best techniques available when analysing which investment opportunities will give the best return. There are two types of project appraisal techniques: non-discounted cash flows and discounted cash flows. The Net Present Value and internal rate of return, examples of discounted cash flows, are in use in many large corporations and regarded as more effective than the traditional techniques of payback and accounting rate of return. In this paper, I will examine the use of the Net Present Value, and the provisions it makes for specific cases, such as unequal lives and mutually exclusive projects. Then I will conclude with the technique that has been proved the best for investment appraisal through the analysis and comparison of project appraisal techniques. The Net Present Value (NPV) method is used by 75% of firms when deciding on investment projects. The reasons for its wide use is that firstly, the NPV rule takes into account the time value of money, meaning that it recognises that a pound today is worth more than a pound tomorrow as the pound today can be invested to start earning interest immediately. Secondly, NPV depends solely on the forecasted cash flows from the project and the opportunity cost of capital. And the final reason for its preference is because the present values are all measured in today’s pounds they have the property of additivity. This property...
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...Overview of Airline Industry Depreciation Policies, 12/22/99 CFRA believes that certain airline companies have recently obtained an earnings boost by extending the depreciable lives and increasing the residual values relating to operating aircraft. In addition, some airlines have recently recorded one-time write-downs and losses on the sale of aircraft, leading to questions about the proper depreciable life of aircraft. Typically, an airline’s aircraft depreciation expense is derived by initially estimating both the useful life and the residual value -- or the perceived fair market value of the aircraft at the end of its estimated useful life. To determine the periodic depreciation expense -- which reduces the value of the aircraft on the company’s balance sheet while increasing operating expenses -- the total cost of the aircraft is reduced by the estimated residual value and that sum is divided by the estimated useful life. By increasing the estimated residual value and extending the estimated useful life of its aircraft, an airline company would prospectively record a lower depreciation expense on its income statement and a higher value for each aircraft on its balance sheet. Consequently, the airline would receive a boost to earnings in all future periods and a boost to earnings growth during the four quarters following the change, as prior financial statements are not restated. While near term earnings would be boosted by the reduced depreciation expense, future earnings...
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...medicines that facilitate save several our lives and keep United States functioning properly. Although it's going to kill several animals within the finish it's a sacrifice we've to decide on to form for the higher of our race. It’s additionally higher to use animals than its humans. There is also no alternative to using other than using animals for testing. Living systems like persons and animals are extraordinarily complicated. Finding out cell cultures in a very Petri dish, whereas generally helpful, doesn't...
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...able to directly choose our thoughts and actions. Sometimes however, we don’t act effectively, and this can have negative repercussions for our health and well-being. Reality therapy is therefore designed to find ways of meeting a person's basic needs, whilst facilitating clients to become aware of, and change negative thoughts and actions. This is to help them take control of their behavior, as well as the world around them. Ultimately, reality therapists take the view that changing what we do is key to changing how we feel and to getting what we want. How does reality therapy work? Reality therapy is a collaborative process between therapist and client, and it is unique in the sense that it is ongoing. This means that if one plan of action fails, new ones will continuously be devised until the therapist and client are both confident that positive results are taking place, or are a near possibility. Essentially, the practice of reality therapy depends on several key components: The counsellor-client connection A reality...
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...about happiness. Happiness is an activity of some sort which is chosen for its own sake and is self-sufficient. Actions according to virtue are chosen for their own sake. Happiness is not found in amusement, for it would be absurd to argue that the goal of a person's life and work is amusement. Rather, amusement is chosen for the purpose of relaxation, which is necessary to enable a person to engage in serious work. Everything is thought to be chosen for the sake of something else except for happiness. A happy life is a life according to virtue. Section 7: Since it has already been established [in Book One] that happiness is an activity according to virtue, it is reasonable to posit that it is an activity according to the highest virtue, which would be an activity corresponding to the best part of man. The activity of the intellect is the best human activity, since it corresponds to the highest part of man, is concerned with the best objects, is the most continuous activity, is self-sufficient, and is loved for its own sake. Everything attributed to a blessed man seems to exist in the activity of the intellect, which is contemplation. A life of contemplation, then, would be the perfect happiness for man. Such a life is above man, for it is...
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...Large Case Application Living Large What growth strategy does Live Nation appear to be using? What competitive advantage do you think Live Nation has? It appears as though Live Nation may be using two kinds of growth strategies; Concentration, which focuses in its primary line of business (in this case the music industry), and “increasing the number of products and services offered or markets served in that primary business”(Robbins & Coulter, 2009), and horizontal integration by combining with competitors. In 2009, Live Nation announced they were merging with ticketmaster to “expand into a complimentary business” (Rapino, 2009). With the concentration growth strategy, Rapino is able to offer many products such as concert tickets, merchandise, videos, and albums when other companies only offer one or a couple of these products. Using the horizontal integration growth strategy Rapino is able to eliminate competition and keep profit inside the company. “The key to Live Nation’s growth strategy is the ability to connect to those millions of people who attend shows every year” (Robbins & Coulter, 2009). By keeping a database that includes contact information for every fan (or client) that Live Nation has ever had, Live Nation is able to “connect” fans to their artists with greater ease. By strengthening the artist to fan connection, the purchase of merchandise and tickets is easier and helps Live Nation to keep growing and profiting. ...
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...“A Long Way Gone” by Ishmael Beah is a book about the loss of Innocence at the hands of war. Unfortunately this happens to many children across the world every day and it has throughout history. When the book begins Ishmael is a normal boy. He hangs out with his friends playing soccer and listening to music. He has not seen much violence yet and the the only form of war he is seen is in movies and in literature. He has not witnessed a murder or seen the terrible things he will later in his life. I included this part of the book to my analysis to give an example of where Ishmael is in his life before he is thrown into war unwillingly. He is childish and lives like any of us would. However this does not last. A group of rebels go from village...
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...System Development Life Cycles (SDLC) * * * * * Tutorial 3 in a series of 6 - Overview of Software Engineering Principles 3 The system development life cycle (SDLC) follows a project through from the initial idea to the point where it is a functional system. It is a core part of the methodology that is used when defining a project. Life cycles fall into a number of different categories, iterative being the most common but they also include waterfall, spiral and chaos models. Common methodologies include Structured Systems Analysis and Design Method (SSADM) and Microsoft Solutions Framework (MSF). Each step in a systems lifecycle can be broken down into many smaller sub-steps or processes. Each stage follows logically after the previous, but it is an oversimplification to say that one stage is a distinct step after another. It is important to understand that the system lifecycle is iterative as well as the stages involved along the way. Different methodologies will have different variations of this lifecycle model. A common iterative lifecycle is show in the diagram below and each stage is described after the diagram. Initial Idea All projects must start with an initial idea. Usually this consists of a brief definition on what is the project all about, what is its purpose and what the project aims to accomplish. How will the success of the project be measured? Feasibility Study Expanding on the Initial Idea, the Feasibility Study involves...
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...Family diversity is the idea that there are a range of different family types, rather than a single dominant one like the nuclear family. It is associated with the post-modernists idea that in today’s society increasing choice about relationships is creating greater family diversity. The modernist view sees society as having a fairly fixed, predictable structure. The modernists see the nuclear family as being the best as it performs certain essential functions. Talcott Parsons saw that the nuclear family as uniquely suited to meet the needs of modern society for a geographical and socially mobile work force. Also Parsons saw that the family performed two ‘irreducible functions’- the primary socialisation of the young and the stabilisation of adult personalities. These functions contribute to the overall stability and effectiveness of society. The New Right has an anti-feminist and conservative view on the family; they are firmly opposed to diversity within family life. The New Right sociologists hold the view that there is only one normal family type; this is the traditional patriarchal nuclear family consisting of a married couple and their dependent children. The New Right sees this family type as being natural based upon the fundamental biological differences between men and women. These sociologists would argue that family diversity is the cause of many social problems, such as education failure and high crime rates. The New Right believes that lone-parent families...
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...development, structural, and process elements. Philosophical Element Psychoanalytic therapy was developed by Sigmund Freud and he believed humans have a basic desire to avoid pain and increase pleasure in their lives (Bryan, 2007, p. 283). According to Gerald Corey, Freud also believed that human behavior is driven by irrational forces, unconscious motivations, and biological and instinctual drives (2005, p. 56). This theory insists that people strive to reach the most pleasure in life and try to avoid situations/behaviors that remind of them of pain. People will use defense mechanisms as a counterattack causing a person to suppress a traumatic event in their lives; however this could cause problems in their future if something happens that makes the experience to resurface. The two instincts that are pivotal to this theory are life and death. Life (sexual) instincts are the survival tactics people use to gain growth, development, and creativity (Corey, 2005, p. 56). On the other hand, the death instinct is a more aggressive drive within a person, which some people can not control. The death instinct is when a person subconsciously wants to kill themselves and/or others. Dealing with both life and death instincts are powerful determinants of why people act as they do (Corey, 2005, p. 57). The psychoanalytic therapy tries to help the client unlock their unconscious thoughts, desires, and...
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