...SAIS 380.760, 2009 380.760: Corporate Finance Lecture 2: Time Value of Money and Net Present Value Professor Gordon Bodnar 2009 © Gordon Bodnar, 2009 Financial Decision Making Finance decision making is about evaluating costs and benefits some complications: measuring cash value of costs and benefits costs and benefits spread out over time uncertainty about the cash value of future costs and benefits financial decision makers depends on other skills to help measuring costs and benefits marketing – revenues based upon market size and advertising economic – price and quantity tradeoffs organizational behavior – impact of structure on productivity strategy – behavior and response of competitors operations – production costs in all cases we try to use market prices to determine cash values of these amounts » market value in monetary terms SAIS 380.760 Lecture 2 Slide # 2 1 SAIS 380.760, 2009 Adjusting for Values at Different Times Time value of money to move values of money across time, we adjust for time value use an interest rate factor to move values across time interest rate factor = (1 + rf) » rf is the risk-free interest rate for the period (used for “certain” values) » the period for a standard interest rate quote is one year this interest rate factor is like an exchange rate across time periods as it has units of (value in future period / value today) the interest rate factor is used to compute values in the future Example You are offered...
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...the influence of gravity. Slope forming materials include rocks, soils, artificial fills (disposal), or a combination of all these materials. Landslides can be sub-aerial and subaqueous, and different phenomena cause landslides, including intense or prolonged rainfall, earthquakes, rapid snow melting, volcanic activity, and multiple human actions. Landslides can involve flowing, sliding, toppling, or falling, and many landslides exhibit a combination of two or more types of movements, at the same time or during the lifetime of a landslide (Cruden and Varnes, 1996)....
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...Managers, 11th Edition by McGuigan, Moyer, & Harris PowerPoint Lecture Slides prepared by Richard D. Marcus University of Wisconsin - Milwaukee 2008 Thomson * South-Western Slide 1 Chapter 1 Introduction & Goals of the Firm » Introduction » » » » » Structure of Decision Models Profit’s Role Agency Problems & Solutions Not-for-Profit Organizations Why Corporations Have Succeeded Over Other Organizational Forms Slide 2 What is Managerial Economics? Integrates and applies microeconomic theory and methods to decision making problems faced by private, public, and not-for-profit organizations. Managerial economics deals with microeconomic reasoning on real world problems such as pricing decisions, selecting the best strategy in different competitive environments, and making efficient choices. Slide 3 To Expand Capacity or Not? • Should Toyota expand its capacity? In part, it must consider current and future demand and what other firms are likely to do. • Capacity for making cars is a long term project, so Toyota should think in terms of the present value (PV) of future profits. • Objective Function: » Max PV of profits {S1, S2} » S1 could be expand capacity and S2 not to expand yet capacity at this time. • Decision Rule: » Choose S1 if PV {Profits of S1 } > PV { Profits of S2 } » Choose S2 if PV { Profits of S1 } < PV { Profits of S2 } » If equal profits, then flip a coin Slide 4 The Decision-Making Process (Figure 1.2) 1. Establish Objectives...
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...past event, and It must result in the giving up of economic resources to satisfy the claims of other parties. An update for liabilities| PRBA003 | Slide 2 Liability recognition in the balance sheet depends upon it is probable that economic benefits will flow from the entity; and the value of the liability can be reliably measured. If the entity can determine whether any a future sacrifice of economic resources should take place or not, then there appears to be no present obligation and a liability does not exist. An update for liabilities| PRBA003 | Slide 3 1 Contingent liabilities cannot be recognised by an entity on the balance sheet but will be disclosed in the notes to the accounts if the possibility of payment is not remote. A contingent liability is a possible obligation that arises from past events and whose existence will be confirmed by the occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the entity. It is a present obligation that arises from past events but it is not recognised because it is not probable that there will be an outflow of resources to settle the obligation or the amount cannot be measured with sufficient reliability. Examples include guarantees given on behalf of others debts or potential damages from legal actions. An update for liabilities| PRBA003 | Slide 4 Liabilities will be...
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...BenihanaOperations Management Education Review 1: 5-28. © 2005 NeilsonJournals Publishing. Benihana: A New Look at an Old Classic Ricardo Ernst and Glen M. Schmidt Georgetown University Abstract. This short case heavily references the “old classic” HBS case on Benihana, and is intended to be used in conjunction with a simulation that helps students gain insight into how Benihana achieved its profitability. The simulation helps bring out many key operational issues, such as how variability in demand and in processing can negatively impact profitability. The case analysis goes on to show how Benihana reduces variability, and illustrates concepts such as the product-process spectrum, the impact of a bottleneck, and the advantage of simultaneous product and process engineering. Keywords: process analysis, simulation, variability, queueing. 1. Introductory Note Benihana might be thought of as an “old classic” in Operations Management. The original Harvard Business School (HBS) version was published in 1972, but the Harvard case continues to be a best seller. This short case heavily references the HBS case, number 9-673-057 (rev. Dec. 14, 1998), however what has been added to enhance the case experience is a simulation that can be used to gain insight into how the operation achieves its profitability, as compared to other restaurants. There is a set of web sites associated with this case note, intended for both students and instructors, at http://www.msb.edu/faculty/schmidtg/...
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...SPEECH! SLIDE 1: Thank you for coming to this meeting that effects all of us here at PHS. My name is Jessica Boone and I am the clinical educator for the Peoria hospital system. It is going to be my pleasure today to explain to you why a smoking ban in a absolute necessity at our facility. Our main goal as a hospital is to promote wellness, one new way that we can do this by implementing an outdoor smoking ban. Lets make PHS like one of the thousands of other facilities in the nation that protect our patients to the best of our abilities. SLIDE 2: Peoria Hospital Systems is the largest hospital in our town. We are the trauma one facility and provide care to over half of our community. We started in 1911 and since day one we have taken pride in our ability to pioneer new and upcoming advancements. We should continue on this path by starting a trend of smoking bans in our area. SLIDE 3: As you all know, our mission statement reads… say it with me… we are committed. To delivering. Outstanding healthcare. Period. This means… The right care, at the right time, in the right setting, at the right cost, with the best possible outcome. We are successful when what we do makes things better for people, improving the health and well-being of body, mind and spirit. SLIDE 4: We work to make a positive difference. We use our talents, skills, and expertise as healthcare providers and as community leaders to improve the quality of life for people in our community. No excuses, no wavering...
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...Foreign Direct Investment Learning objectives • Be familiar with current trends regarding FDI in the world economy. • Understand the different theories of foreign direct investment. • Appreciate how political ideology shapes a government’s attitudes towards FDI. • Understand the benefits and costs of FDI to home and host countries. • Be able to discuss the range of policy instruments that governments use to influence FDI. • Articulate the implications for management practice of theory and government policies associated with FDI. The focus of this chapter is foreign direct investment (FDI). The growth of foreign direct investment in the last 25 years has been phenomenal. FDI can take the form of a foreign firm buying a firm in a different country, or deciding to invest in a different country by building operations there. With FDI, a firm has a significant ownership in a foreign operation and the potential to affect managerial decisions of the operation. The goal of our coverage of FDI is to understand the pattern of FDI that occurs between countries, and why firms undertake FDI and become multinational in their operations as well as why firms undertake FDI rather than simply exporting products or licensing their know-how. The opening case describes the international growth of Starbucks. The closing case explores Cemex’s foreign investments. OUTLINE OF CHAPTER 7: FOREIGN DIRECT INVESTMENT Opening Case: Starbucks’...
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...DESIGN4.1 E-R DIAGRAM4.2 DATA FLOW DIAGRAM4.3 USE CASE DIAGRAM4.4 DATABASE DESIGN | | 5. | SOFTWARE SPECIFICATION5.1 INTRODUCTION ABOUT ANDROID5.2 ANDROID APPLICATION DEVELOPMENT TOOLS5.3 DATABASE DESCRIBTION | | 6. | SOFTWARE TESTING6.1 TESTING METHODOLOGIES 6.1.1 UNIT TESTING 6.1.2 INTEGRATION TESTING 6.1.3 SYSTEM TESTING | | 7. | IMPLEMENTATION7.1 SAMPLE SCREEN SHOTS7.2 SAMMPLE CODING | | 8. | FUTURE ENHANCEMENT AND CONCLUSION8.1 FUTURE ENHANCEMENT8.2 CONCLUSION8.3 REFERENCES | | Instructions for preparing project report Chapter heading – Times new roman -14 points – Bold, Uppercase, Center alignment, 1.5 line spacing CHAPTER 1 INTRODUCTION Heading – Times new roman -14 points – Bold, Uppercase, left alignment 1.1 GENERAL Sub-Heading – Times new roman -12 points – Bold, lowercase, left alignment, 1.5 lines spacing between heading and sub heading 2.2 MODULES 2.2.1 Modules List * All Paragraphs should be in Times new roman – 12 points with 1.5 line spacing. * Double line spacing should be given in between paragraphs. * Page numbers should be at the bottom of the page – center aligned. * Margins Normal: Top 1’’ Bottom 1’’ Left 1’’ Right 1’’ – A4 Page size * Header and Footer – Nil Instructions for Power point preparation Slide 1: Your Project title (center aligned) with university logo. Your name, Register no. , class, (Left aligned) Guide name, designation (Right aligned) Slide 2-3:...
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...* Export citation * PDF (228 K) * More options... Search Wear Volume 253, Issues 1–2, July 2002, Pages 9–16 CM2000 S.I. Wear and fatigue in rolling contact * Yoshitsugu Kimuraa, , , * Masami Sekizawab, * Akio Nitanaic * a Kagawa University, 1-1 Saiwai-cho, Takamatsu, Kagawa 760-8521, Japan * b NTN Corporation, 1578 Higashi-Kaizuka, Iwata, Shizuoka 438-8510, Japan * c Tamagawa University, 6-1-1 Tamagawa Gakuen, Machida, Tokyo 194-8610, Japan * http://dx.doi.org/10.1016/S0043-1648(02)00077-7, How to Cite or Link Using DOI * Permissions & Reprints Abstract Researches on wear and fatigue in rolling contact from a tribological viewpoint are introduced. Transmission of traction and accompanying microslip in the contact region play critical roles in these phenomena. First, a quantitative analysis of wear in rolling contact with microslip is introduced, and it is shown that a simplified microslip theory can explain its behavior. Second, a marked change in contact fatigue life with traction is demonstrated, and a theory is introduced which relates the fatigue life with cumulative shear strain in the subsurface. Keywords * Contact fatigue; * Microslip; * Rolling contact; * Wear 1. Introduction Reduction of wear and prevention of contact fatigue are important objectives of railway technology and of tribology as well. However, these two engineering fields have been developing as different worlds, and researchers...
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...Sun Educational Services Java Programming Language SL-275 Sun Educational Services Java Programming Language September 1999 Copyright 1999 Sun Microsystems, Inc., 901 San Antonio Road, Palo Alto, California 94303, U.S.A. All rights reserved. This product or document is protected by copyright and distributed under licenses restricting its use, copying, distribution, and decompilation. No part of this product or document may be reproduced in any form by any means without prior written authorization of Sun and its licensors, if any. Third-party software, including font technology, is copyrighted and licensed from Sun suppliers. Parts of the product may be derived from Berkeley BSD systems, licensed from the University of California. UNIX is a registered trademark in the U.S. and other countries, exclusively licensed through X/Open Company, Ltd. Sun, Sun Microsystems, the Sun Logo, Solstice, Java, JavaBeans, JDK, and Solaris are trademarks or registered trademarks of Sun Microsystems, Inc. in the U.S. and other countries. All SPARC trademarks are used under license and are trademarks or registered trademarks of SPARC International, Inc. in the U.S. and other countries. Products bearing SPARC trademarks are based upon an architecture developed by Sun Microsystems, Inc. The OPEN LOOK and Sun Graphical User Interface was developed by Sun Microsystems, Inc. for its users and licensees. Sun acknowledges the pioneering efforts of Xerox in researching and developing the...
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...increases the heart rate. Adrenalin is expected to increase the heart rate because adrenalin excites the body and gets blood pumping faster which increases blood flow to the heart, increasing heart rate. It is expected that sleeping pills will decrease heart rate because sleeping pills relax the body and help decrease restlessness. A relaxed person will have a lower heart rate than a restless person. It is expected that tea will increase the heart rate because tea contains caffeine, which is a positive chronotopic agent. A positive chronotopic agent is one that increases heart rate. However, tea contains a small amount of caffeine compared to other solutions so an increase is...
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...Coefficient of Variation Normal Distributions and the Standard Unit Relationship Between Risk & Return Slide 1 Demand Curves PRICE/Q $5 • A demand curve shows the greatest quantity of a good demanded at each price the consumers are willing to buy, holding other influences constant (ceteris paribus). 20 Quantity / time unit Slide 2 Sam + Diane = Market • The market demand curve is the horizontal SUM of the individual demand curves. • The demand function includes all variables that influence demand. 4 3 7 Q = f( P, Ps, Pc, I, N, Pe) + ? + + P is price of the good PS is the price of substitute goods PC is the price of complementary goods I is income, N is population, Pe is the expected future price Slide 3 Determinants of Demand i. ii. iii. Pc iv. v. vi. vii. viii. xi. x. price, P price of substitute goods, Ps price of complementary goods, income, I advertising, A advertising by competitors, Ac size of population, N, expected future prices, Pe adjustment time period, Ta taxes or subsidies, T/S • The list of variables that could likely affect demand varies for different industries and products. • The ones on the left tend to be significant. Slide 4 Supply Curves PRICE/Q • A firm‟s supply curve is the greatest quantity of a good supplied at each price by the firm, holding other things constant. Quantity / time unit Slide 5 Acme Inc. + Universal Ltd. = Market • The market supply curve is the horizontal sum of the...
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...SLIDES Slide 1 Challenges to supply chain effectiveness What and how much to ship? When and where to ship? Objective: Minimizing inventory and other costs and maintaining or improving customer service. Slide 2 * Demand variability * Translating forecast into orders * Visibility of purchase volume * Accurately assessing volume * Vendor management * Internal collaboration and cooperation * Inventory management * Retail information systems and organizational challenges Slide 3 Demand Variability * Building a reliable demand chain forecast * Extrapolating past shipment data * Do not have unified view based on recent sales, current inventory levels, current inventory requirements and lead times. * Buying patterns are random and hard to predict * More predictable patterns: looking at group of stores served by a DC, overall company sales and even item sales across all retailers. Slide 4 Bullwhip effect Process whereby even very small changes in perceived demand at the retailer level cause even larger changes when you move up the supply chain * Cause fluctuating demand and lead planners make changes to their order levels * Longer the lead time……..more drastic the changes are * Unfilled customer order, planners place larger orders causing backlog * When inventories, they reduce their orders more than necessary to create balance. * Longer lead times for products * Planners place orders for more...
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...September 2005 Project Portfolio Management at XYZ Pharma Early morning, Monday 29th August 2005. John Smith, head of portfolio management and strategic planning, was paging through the slides he had prepared for the Portfolio Management Board (PMB) meeting which would start at 9 am, and which was scheduled to last until Friday. “We have been preparing this meeting for weeks”, he thought, “and it seems the PMB has some tough decisions to make”. The PMB of XYZ Pharma, the pharmaceutical division of XYZ, one of the world’s leading companies in the life science sector, convenes yearly in August to review the composition of the research and development (R&D) project portfolio. It also meets on a monthly basis to monitor the project portfolio and make decisions regarding new developments. According to John Smith, “The PMB is an important decision making body because it shapes the future of the company by determining its product pipeline”. The PMB members include the CEO of XYZ, the CEO of XYZ Pharma, the heads of the different business units, the heads of Development, Research, Global Marketing and Strategic Planning, the regional heads for the US, Europe and Japan and the functional managers for Regulation, Clinical, Licensing, Technical Research and Development, and Patents. The portfolio group, led by John Smith, had analysed the project portfolio carefully and had highlighted several potential threats that required action. According to John, “There will be an indepth discussion...
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...DISTANCE EDUCATION CENTRE Assessment Attachment Form DISTANCE EDUCATION CENTRE Assessment Attachment Form Student ID: Place X if YMCA Singapore student UTAS email address: 176069 | x x | Aj16@postoffice.utas.edu.au | Name and return postal address: Unit code and name: | | JNB225 | Block 216#04-289, | | Unit Co-ordinator: | Bukit Batok St 21, | | Hilary Pateman | Singapore (650216) | | Assessment no.: | 1 | | Due Date: | 18 August 2014 | Date submitted: | 20 August 2014 | Checklist Assignment conforms to the Department’s presentation and referencing guidelines Each page is numbered as per the Department’s guidelines A Reference page is included at the end of the assignment Assignment has been read to check for spelling errors and careless construction The word count is clearly visible on the cover page (exclude assignment question, abstract and list of references in word count) You have kept a copy of this assignment for your own records ------------------------------------------------- Plagiarism Declaration: *By submitting this assignment and cover sheet electronically, in whatever form, you are deemed to have made the declaration set out below. I declare that all material in this assignment is my own work except where there is clear acknowledgment or reference to the work of others and I have complied with and agreed to the University statement on Plagiarism and...
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