Intro to Accounting Notes

Business Environment Accounting: The information system that measures business activities, processes the information Into reports, and communicates the results to decision makers. Two Major Fields of Accounting: 1 ) Financial Accounting: The field of accounting that focuses on providing information for external decision makers. 2) Managerial Accounting: The field of accounting that focuses on providing information for internal decision makers. Certified Public Accountants (Spas): Licensed professional accountants who serve the mineral public.Certified Management Accountants (Camas): Certified professionals who specialize in accounting and financial management knowledge that typically work for a single company. Financial Accounting Standards Board (FAST): private organization that oversees the creation and governance of accounting standards. Securities and Exchange Commission (SEC): the US government agency that oversees the US financial markets. Generally Accepted Accounting Principl es (GAP): the main US accounting rule book, created and governed by the FAST.Cost Principle: states that acquired assets and services should be recorded at their actual cost. Going Concern Assumption: assumes that the entity will remain in operation for the foreseeable future. Accounting Equation: Assets-Liableness + Equity Assets: an economic resource that is expected to benefit the business in the future. Liabilities: debts that are owed to creditors. Retained Earnings: capital earned by profitable operations off corporation that is not distributed to stockholders. Net Income: the result of operations that occurs when total revenues are greater Han total expenses.Revenues: amounts earned from delivering goods or services to customers. Expenses: the cost of selling goods or services. Steps to Analyze a Transaction Assets Liabilities + Equity (Contributed Capital & Retained Earnings) Cash + Acts Race + Supplies+Land = Acts Payable + Common Stock – Dividends + Revenue – Expenses 1) Identify the accounts & account type -Cash (Asset) & Common Stock (Equity) 2) Decide if each account increases or decreases 3) Determine if the accounting equation is in balanceAccounts Payable: a short term liability that will be paid in the future Accounts Receivable: business expects to receive cash in the future from customers for goods sold or services performed. 4 Types of Financial Statements 1) Income Statement: Reports net income/net loss of business for specific period 2) Statement of Retained Earnings: Reports how the company's retained earnings balance changed from the beginning to the end of the period. 3) Balance Sheet: Reports on the assets, liabilities, and stockholders' equity of the business as of a pacific date. ) Statement of Cash Flows: Reports on the business's cash receipts and cash payments for a specific period. Return on Assets (ROAR): measures how profitably a company uses its assets. Return on Assets = Net income/Average total assets Average Total Assets = Beginning total assets + ending total assets 12 4 Reasons Stockholders Equity Can Change: Stockholders equity is broken out into two components, contributed capital and retained earnings, as shown in the accounting equation. The basic component of contributed stock capital is stock.

Diagnostic Urinalysis Lab Essay

Introduction/Background Today’s lab exercise is about diagnostic Urinalysis. Urine reflects the many chemical components found in blood. This test is a good measure of health of endocrine system, kidneys, and urinary tract. Artificial urine samples are used for today’s lab thank goodness. The test that this lab is mostly focused on is called â€Å"dipstick† urinalysis test where students will analyze the chemical composition of urine by dipping the chemical indicator stick or â€Å"dispstick† into a sample of urine. The chemicals in the pad of the indicator stick will react with various biochemicals, ions and salts found in urine and indicate the presence of hemoglobin, glucose, ketones, protein and specific gravity. The change in color indicates the quantity and presence of particular urine component. High level of glucose indicates the endocrine system’s inability to regulate sugar concentration. Dilute urine indicates the adrenal gland defect that prevents kidney from r egulating water and salt levels. Urine containing blood and protein indicates damage to a Kidney’s blood filtering system. Hypothesis: No hypothesis is necessary as this lab is an observational lab Objectives: The objective of today’s lab is to learn and understand diagnostic urinalysis. The focus of today’s lab is geared more towards dipstick analysis. Students are to complete the chart, answer all associated questions, and include references. Students will learn the importance of urine and the various diseases/problems that can be diagnosed using it. Students will diagnose the unknown samples of â€Å"Jane and John†. Materials: 1. Acetoacetic acid 2. Creatinine 3. Urine test strips – multisticks that can measure blood, glucose, ketones, pH and protein are required and should be also able to measure specific gravity – are needed. Brand recommended is Clinistick TM . 4. Five test tubes per group Procedure 1 (Calibration) Calibration This is to ensure that the data collected from the patient is accurate. You will be provided with the positive and negative standard solution. The Positive Standard determines whether the indicator determines the correct response to presence of chemicals in the urine. A false positive when using water will indicate that the â€Å"stick† is detecting substances that are not there. A false negative indicates that the stick is unable to detect the presence of substances that are present in the sample. 1. Obtain the negative and positive standard bottles. Note the color on the indicator stick prior to start of experiment. 2. Collect 2 tubes and label as â€Å"neg† and â€Å"pos† for negative and positive standard solution. 3. Pour  ¾ full of the tube with â€Å"neg† solutions in the tube labeled â€Å"neg.† 4. Pour  ¾ full of the tube with â€Å"pos† solutions in the tube labeled â€Å"pos.† 5. Insert the indicator stick in the tube la beled â€Å"neg.† Observe the color and odor of the solution. 6. Insert the indicator stick in the tube labeled â€Å"pos.† Observe the color and odor of the solution. 7. Record your data in the table as â€Å"+† or â€Å" –â€Å" to indicate positive or negative result. Procedure 2 (analysis of samples) Obtain a set of the urine samples to analyze. 1. Collect and label three tubes as normal (N), John , and Jane. 2. Pour Normal urine sample  ¾ full of the tube labeled N 3. Pour John’s urine sample  ¾ full of the tube labeled John 4. Pour Jane’s urine sample  ¾ full of the tube labeled Jane 5. Insert the indicator stick in the tube labeled N. Observe the color and odor of the solution. 6. Record the data 7. Perform the same test on the samples labeled John and Jane using new sticks and record your observation in the table provided above. Please refer to the attachment for interpretation of Urinalysis results. If not provided please ask your Instructor for the same. Discussion: This lab discussed urinalysis. Urinalysis is a diagnostic test that evaluates health of endocrine system, kidneys, and urinary tract. Urine can be visually examined sample for color (clear to dark yellow or red), and clarity (clear to cloudy), and odor. A complete diagnostic urinalysis includes a dipstick evaluation and a microscopic analysis. Dipstick evaluation includes parameters such as glucose, ketones, pH, protein, blood, bilirubin, etc. The microscopic visualization allows for detection of bacteria (UTI), RBCs, crystals (metabolic derangements), renal tubular cells (toxicity or severe renal disease), or transitional cells (from bladder). Acid urine and alkaline urine have crystals that form different from that of normal urine. Some terms that the students learned were glycosuria-excess glucose levels, hematuria-RBCs present in urine, hemaglobinuria-hemoglobin pigment is present in urine, ketonuria-high levels of ketones, myoglobinuria-high levels of myglobin (pigments that are released when muscles breakdown), and pH-measure acidity or alkalinity of urine. In order to be certain that values are correct, known negative and positive standards are used to compare with the clinical sample. This process is called calibration. Calibration should be done for all diagnostic tests and the equipment used to make these determinations. Calibration is necessary to avoid false negative and false positives. A false positive when using water will indicate that the â€Å"stick† is detecting substances that are not there. A  false negative indicates that the stick is unable to detect the presence of substances that are present in the sample. Conclusion: In conclusion, students successfully performed a urinalysis dipstick test. The lab had students test the negative and positive tests, and then the James and Jane urine samples were tested. John’s urine was clear and tested negative for protein, which indicated it was normal. The pee was slightly turbid. The urine had a strong odor and a specific gravity of 1.005, which is lower than normal urine. The pH of John’s pee is 5 and the glucose was extremely high with 1000mg, tested with small (+) amounts of ketones and also showed trace amounts of blood. Jane’s urine was a very light yellow with a very faint odor, tested negative for ketones, tested negative for proteins, had a pH of 6, and had a specific gravity of 1.015. The glucose was extremely high with 1000mg. Jane also showed About 250 Ery/nanoliters of blood in her urine. The protein portion of the dipstick tested for 100 (++) in Jane’s urine sample. Students learned different types of disease that could be associated with the test results that were discovered with the dipstick. Lab Questions: 1. What are the possible causes of John’s test results? John’s urine was clear and tested negative for protein, which indicated it was normal. The pee was slightly turbid which could be caused by Lipiduria, hyperoxaluria, chyluria, pyuria, excess phosphate crystals precipitating in alkaline urine, hyperuricosuria, or contamination with vaginal mucus or epithelial cells. The urine had a strong odor which could indicate alkaline fermentation, diabetic ketoacidosis, cysteine decomposition, gastrointestinal-bladder fistulae, or could be caused by medications or diet. John’s urine was observed to have a specific gravity of 1.005, which is lower than normal urine. Decreased specific gravity is seen in excessive fluid intake, renal failure, pyelonephritis, and central and nephrogenic diabetes insipidus. False low readings of specific gravity are associated with alkaline urine (a high-citrate diet). The pH of John’s pee is 5, which is considered to be within the normal range, but it is on the lower end which could be caused by diet and uric acid calculi. The glucose was extremely high with 1000mg, which is extremely strange due to that fact that  nearly all glucose filtered by the glomeruli is reabsorbed in the proximal tubules and only undetectable amounts appear in urine in healthy patients. False positive results are seen when high levels of ketones are present and also in patient taking levodopa. Something to remember about dipstick tests is that reagent strip tests are specific for glucose. John’s sample tested with small (+) amounts of ketones. A positive test, since ketones are not normally found in urine, is associated with uncontrolled diabetes, pregnancy without diabetes, carbohydrate-free diets, and starvation. False trace results may be seen in highly pigmented urine and in patiens taking levodopa. John’s urine also showed trace amounts of blood. 2. Of the diseases mentioned, what disease might John have? Of the diseases mentioned, it is believed that John might have either diabetes mellitus or a renal impairment. 3. How did you come to this conclusion about John’s condition? The conclusion was made that John might have diabetes mellitus, due to the high levels of glucose, slightly lower pH, and traces of ketones. The decreased level of specific gravity, and traces of blood lead to the belief that John may have a renal impairment. 4. What are the possible causes of Jane’s test results? Jane’s urine was a very light yellow with a very faint odor, tested negative for ketones, tested negative for proteins, had a pH of 6, and had a specific gravity of 1.015. All of these characteristics do not indicate abnormalities with Jane’s pee. The glucose was extremely high with 1000mg. False positive results are seen when high levels of ketones are present and also in patient taking levodopa. Something to remember about dipstick tests is that reagent strip tests are specific for glucose. Jane also showed About 250 Ery/nanoliters of blood in her urine. This could indicate lower urinary tract bleeding and inflammation/infection, acute glomerulonephritis, or lupus nephritis. The protein portion of the dipstick tested for 100 (++) in Jane’s urine sample. Proteinuria is indicative of renal disease, and small amounts accompany hematuria and acute urinary tract infection. 5. Of the diseases mentioned, what disease might Jane have? Of the diseases mentioned, Jane might have an acute urinary tract  infection/inflammation, or renal disease. 6. How did you come to this conclusion about Jane’s condition? The conclusion about renal disease is because proteinuria is indicative of renal disease. Jane might instead have an acute urinary tract infection/inflammation due to not only the protein in her urine but also the blood in the urine. 7. Why is Urine useful as an indicator of the endocrine and kidney disease? Urine is as an indicator of the endocrine and kidney disease because through its protein, pH, glucose, ketones, specific gravity, and blood that can possibly be found, physicians can diagnose disease. Urine indicates diseases with the kidney because the kidney is what filters out the body fluids that become the urine. 8. What is the laboratory procedure that can be used to test the presence of certain specific biochemicals in urine? The laboratory procedures that can be used to test the presence of certain specific biochemical in urine could be microscopic analysis, or even a urine electrophoresis test 9. Which blood chemical will be found in high levels in patients diagnosed with untreated diabetes mellitus? The chemical that will be found in high levels in the blood of patients diagnosed with untreated diabetes mellitus would be glucose. 10. How does odor help in diagnosis of disease? Odor of urine helps in diagnosing disease by merely alerting the patient that something is wrong. Because urine doesn’t have a very strong smell, if a whiff of something is particularly pungent when peeing, it may indicate that the patient could have an infection or urinary stones, which can create an ammonia-like odor. Diabetics might notice that their urine smells sweet because of excess sugar. Alkaline fermentation causes an ammoniacal smell, and patients with diabetic ketoacidosis produce a urine that may have a sweet or fruity odour. Other causes of abnormal odours are cystine decomposition (a sulphuric smell), gastrointestinal-bladder fistulae (a faecal smell), medications (eg, vitamin B6), and diet (eg, asparagus). 11. Define the following terms associated with urinalysis: Glycosuria: Glucose normally is filtered by the glomerulus, but it is almost completely reabsorbed in the proximal tubule. Glycosuria occurs when the filtered load of glucose exceeds the ability of the tubule to reabsorb it (i.e., 180 to 200 mg per dL). Etiologies include diabetes mellitus,  Cushing’s syndrome, liver and pancreatic disease, and Fanconi’s syndrome. Ketonuria: Ketones, products of body fat metabolism, normally are not found in urine. Dipstick reagents detect acetic acid through a reaction with sodium nitroprusside or nitro-ferricyanide and glycine. Ketonuria most commonly is associated with uncontrolled diabetes, but it also can occur during pregnancy, carbohydrate-free diets, and starvation. Hematuria: Hematuria can be glomerular, renal, urologic, and exercise-induced. Urologic causes of hematuria include tumors, calculi, and infections. Urologic hematuria is distinguished from other etiologies by the absence of proteinuria, dysmorphic RBCs, and erythr ocyte casts. Even significant hematuria will not elevate the protein concentration to the 2+ to 3+ range on the dipstick test. (23) Up to 20 percent of patients with gross hematuria have urinary tract malignancy; a full work-up with cystoscopy and upper-tract imaging is indicated in patients with this condition. (24) In patients with asymptomatic microscopic hematuria (without proteinuria or pyuria), 5 to 22 percent have serious urologic disease, and 0.5 to 5 percent have a genitourinary malignancy. pH: Urinary pH can range from 4.5 to 8 but normally is slightly acidic (i.e., 5.5 to 6.5) because of metabolic activity. Ingestion of proteins and acidic fruits (e.g., cranberries) can cause acidic urine, and diets high in citrate can cause alkaline urine. (15-17) Urinary pH generally reflects the serum pH, except in patients with renal tubular acidosis (RTA). The inability to acidify urine to a pH of less than 5.5 despite an overnight fast and administration of an acid load is the hallmark of RTA. In type I (distal) RTA, the serum is acidic but the urine is alkaline, secondary to an inability to secrete protons into the urine. Type II (proximal) RTA is characterized by an inability to reabsorb bicarbonate. This situation initially results in alkaline urine, but as the filtered load of bicarbonate decreases, the urine becomes more acidic. Determination of urinary pH is useful in the diagnosis and management of UTIs and calculi. Alkaline urine in a patient with a UTI suggests the presence of a urea-splitting organism, which may be associated with magnesium-ammonium phosphate crystals and can form staghorn calculi. Uric acid calculi are associated with acidic urine. Hemoglobin: The presence of free hemoglobin in the urine, an abnormal finding, that may make the urine look dark. Hemoglobin in the urine is termed hemoglobinuria. Hemoglobin is  the protein in the red blood cells which carries oxygen from the lungs to the tissues of the body and returns carbon dioxide from the tissues to the lungs. The iron contained in hemoglobin gives red blood cells their characteristic color. Red blood cells are normally taken out of circulation after approximately 4 months; they are trapped and disassembled in the spleen, bone marrow, and liver. If, however, red cells hemolyze (break down) within the vascular system, the components are set free in the blood stream. Free hemoglobin is bound by haptoglobin (another protein) and reprocessed. But if the level of hemoglobin in the blood rises above the ability of haptoglobin to reclaim it, hemoglobin begins to appear in the urine — there is hemoglobinuria. Hemoglobinuria is a sign of a number of conditions including: acute nephritis, burns, kidney cancer, malaria, sickle cell anemia, a transfusion reaction, tuberculosis of the urinary tract, and many other conditions. References: Benejam R, Narayana AS. Urinalysis: the physician’s responsibility. Am Fam Physician 1985;31:103-11. Brendler, CB. Evaluation of the urologic patient: history, physical exami-nation and urinalysis. In: Campbell MF, Walsh PC. Campbell’s Urology. 7th ed. Philadelphia: Saunders, 1998:144-56. Fogazzi GB, Garigali G. The clinical art and science of urine microscopy. Curr Opin Nephrol Hypertens 2003;12:625- 32. Hanno PM, Wein AJ, Malkowicz SB. Clinical manual of urology. 3d ed. New York: McGraw-Hill, 2001. Kiel DP, Moskowitz MA. The urinalysis: a critical appraisal. Med Clin North Am 1987;71:607-24. Laboratory manual for physiology, 2005. Leman P. Validity of urinalysis and microscopy for detecting urinary tract infection in the emergency department. Eur J Emerg Med 2002;9:141-7. Rabinovitch A. Urinalysis and collection, transportation, and preservation of urine specimens: approved guideline. 2d ed. Wayne, Pa.: National Committee for Clinical Laboratory Standards, 2001. NCCLS document GP16-A2. Sheets C, Lyman JL. Urinalysis. Emerg Med Clin North Am 1986;4: 263-80. Van Nostrand JD, Junkins AD, Bartholdi RK. Poor predictive ability of urinalysis and microscopic examination to detect urinary tract infection. Am J Clin Pathol 2000;113:709-13.

Final Exam

Answer four of the following seven essay questions. Essay answers should be in paragraph form using complete sentences. (No bullet points) Use PAPA style for citations as needed. Exams may be subject to student submission using Turning at the professor's discretion. Your answers should be submitted as a Word file attached to an email sent to me by the start of class on March 5th. While brevity Is the soul of wit, essay answers should err on the side of completeness versus brevity.That said, I don't want to see the answer to any question go beyond two single-spaced hypocrites pages using a font size of 10-12 points. 1. Congratulations! You have Just been elected ruler off small OLD. What steps will you take to manage the country's balance of trade, and Its currency? Name and use an actual country don't make one up. Sierra Leone is a country that is rich in agricultural and mining resources, yet the great majority (over 70%) of the country still lives in poverty. Economic growth is hin dered by disadvantageous exchange rates and government budget deficits.As the recently elected President of Sierra Leone, I will take any and all necessary steps o bring this beautiful country out of poverty (www. Henbane. Org, 2014). Sierra Leone Is currently working with the International Monetary Fund (MIFF) to implement changes and improvements in our country's economic system. Sierra Leone has made important strides in economic reconstruction and macroeconomic as well as political stability since the end of the civil conflict in 2002. Economic growth has strengthened in the last two years with a stream of iron ore production and increased Infrastructure Investment.As the new president, I will continue working with the MIFF to manage the balance of trade and stabilize our currency (www. MFC. Org, 2013). In regards to Sierra Lens's currency, the exchange rate system is classified as floating, with the value of the Leone (currency) determined by the market. Currently, the central banks interventions are limited and aimed at smoothing volatility in the market. In order to stabilize the currency, I will diligently work with the Bank of Sierra Leone (BOSS) and with the MIFF to Introduce a stringent stabilization policy and reduce our country's debt.This policy will be aimed at first and foremost at tightening monetary regulations and reducing government borrowing. I will encourage the BOSS o move from a wholesale foreign exchange auction system to a retail auction system available to importers. This will enhance the currency's stability in the market as well as improve competitiveness. I will also work with the BOSS to improve monetary policy signaling, address remaining gaps In banking supervision, monetary and foreign exchange operations. I initiatives to encourage the development of micromanage in rural areas.Lastly, and perhaps most importantly, I will continue to work with the MIFF and the BOSS to develop a financial literacy campaign that will help to spr ead knowledge and titivation to continue efforts to stabilize the currency (www. Miff. Org, 2013) As president, I have also been charged with stabilizing trade in Sierra Leone. One of the biggest challenges in trade in Sierra Leone is that of smuggling and illicit trading activities. Sierra Leone is known for mining, especially diamonds, but poor regulation and policy enforcement, and high levels of corruption that lead to considerable levels of money laundering activities.As president, I will establish stricter controls and taxes around the mining trade, and crack down on corrupt government officials. I will continue to work with the government-created mining community development fund (DACCA), created to raise local communities' stake in the legal diamond trade, which returns a portion of diamond export taxes to diamond mining communities (www. Heritage. Org, 2014). Throughout my term as president, I hope to create a great economic turnaround for Sierra Leone, not only through bal ancing the currency and trade in the country, but through many more positive changes.I hope that by reducing budget deficits and improving the fiscal position of the government, I will be able to rehabilitate our social and economic infrastructure, stabilize the economy and provide a better life for Sierra Lens's people. 2. Compare and contrast the different methods of hedging transaction exposure. Include both derivative and non-derivative solutions. Transaction exposure is one of three types of foreign currency exposure. It is a type of risk that companies involved in international trade will face when entering fixed-price financial contracts.The risk occurs after the financial contract is made, and the subsequent fluctuations in currency exchange rates occur randomly and unpredictably. Although transaction exposure is considered short-term economic exposure, these changes in exchange rates can still affect the contract negatively, resulting in significant losses for the firm. The refore, companies participate in various hedging activities to avoid losses from transaction exposure (Nun & Arsenic, 2012). In transaction hedging, there are both derivative as well as non-derivative solutions. Derivatives are simply a contract between two parties.One of the ways which firms hedge transaction exposure is through the use of derivatives such as options contacts. Options are contracts used to reduce the risk of transactions by sing calls (sell) or puts (buy) on a financial asset at an agreed-upon price at some time in the future, which is known as exercising the option. Options also have a maturity or expiration date. In Europe, options can only be exercised at their maturity date, whereas in the United States, options can be exercised any time during the contract (Nun & Arsenic, 2012). Another derivative solution is a futures contract.Futures contracts are an agreement to buy or sell an asset at an agreed-upon price in the future. Unlike options, futures contracts ar e standardized for an amount of the asset, and are usually transacted to exit the market. Hedgers avoid price variation in the market by and pass off risk to a speculator who will take a long or short position in the futures contract. The speculator is considered to be more willing to take on the price risk variation. Futures contracts are short-term and profits and losses are realized on a daily basis (Nun & Arsenic, 2012).Somewhat similar to a futures contract is a forward contract. Forwards are also a contract to buy or sell an asset at an agreed-upon price in the future, however, forward contracts have a specific maturity date unlike the daily settlements used in uterus contracts. Rather than being a standardized contract, forwards are tailor made to the needs of the participants. Also different than futures is that when trading forwards, forwards are often settled through the delivery of goods or cash (Nun & Arsenic, 2012).There are numerous other types of derivatives used to m itigate foreign exchange risk, but the most common are forward and futures contracts, futures options, and swaps which will be discussed later in this exam (Nun & Arsenic, 2012). Many Macs also participate in non-derivative methods for hedging transaction risk. These are often used if a firm has positions in less liquid currencies. In order to mitigate risk in these cases, cross-hedging is a common technique in which a firm will hedge a position in one asset by taking a position in another asset.Effectiveness of cross-hedging is highly dependable on the strength of the relationship between the commodity futures prices and the exchange rate (Nun & Arsenic, 2012). Another non-derivative method to avoid transaction exposure is hedging via lead and lag. A company can lead, to pay or collect on an invoice early, or lag, which means to pay or collect late. By timing the lead and lag strategy correctly, the firm can protect themselves against depreciation or appreciation of the foreign cur rency they are dealing in (Nun & Arsenic, 2012).Hedging through invoice currency can help firms diversify exchange exposure by using currency basket units. A currency basket is a selected group of currencies in which the weighted average is used as a measure of the value of a contract or obligation. It functions as a benchmark for regional currency movements. Because it is a portfolio of currencies, its value is more stable and can be useful as a hedging LOL, especially for long-term contracts where there are no forward or options contracts available (Nun & Arsenic, 2012).The last non-derivative form of transaction hedging that we will discuss is that of exposure netting. Exposure netting helps to centralize a firm's exchange exposure management function in one location, typically in a reinforce center. All invoices from nitrating transactions are sent here, where overall exposure is analyzed and determined. Foreign exchange experts can then determine the optimal hedging methods for the portfolio of transactions and move forward to implement them (Nun Arsenic, 2012). Overall, we have seen that there are numerous options to hedge transaction exposure.There are some similarities among them, but they differ from each other and are applicable to different needs. Derivative forms of hedging are typically contractual, relatively short term solutions to transaction exposure, whereas non- lifestyle. No matter what the case, however, it is prudent for any NC to determine a strategy for transaction hedging before going into significant overseas contracts. 3. Compare and contrast a plain vanilla currency swap with a plain vanilla interest rate swap. Describe and Justify a situation where a NC would use each type of swap.As discussed briefly above, swap transactions are a type of derivative used to mitigate currency exposure in forward trades. A swap is an agreement between two parties to exchange a sequence of cash flows over a period of time- a simultaneous sale of spot foreign exchange against a forward purchase of an equal amount of foreign currency (Nun & Arsenic, 2012). A plain vanilla interest rate swap is the most common and simplest type of swap. They are customized contracts that can be paid monthly, quarterly, yearly, or on a basis decided on by the firms involved.In a plain vanilla interest rate swap, one part agrees to pay the contract at a fixed interest rate, while the other party agrees to pay at a floating interest rate, and the two cash flows are paid in the same currency. The swap typically has a set date of maturity set at some point in the future (MacAfee, 2012). A plain vanilla currency swap, unlike the plain vanilla interest swap, interest and principal payments on a loan are exchanged in 2 currencies. In the plain vanilla currency swap, the two parties exchange payments at the beginning and end of the swap, which also differs from interest rate swaps (MacAfee, 2012).In the case of plain vanilla interest rate swaps, Macs or Mi ff would use these when they are paying a floating rate of interest on liabilities and earning a fixed rate of interest on assets. It can be highly risky for a firm to have such a mismatch between assets and liabilities. Therefore, the firm could use a plain vanilla interest rate swap to rectify the imbalance in their interest payments (MacAfee, 2012). For the case of the plain vanilla currency swap, a firm would be interested in conducting this type of swap when the firm wants to expand operations into another country, but has comparative advantage in its home country.The firm will likely have more favorable financing in its home country, and therefore could perform a currency swap with the country it is expanding into, and gain the necessary funds in the new currency to finance its startup and operations (MacAfee, 2012). 4. Discuss the issues and potential solutions for a NC contemplating foreign direct investment in a OLD. By definition, a NC or Multinational Corporation, is regi stered and/or has operations in more than one country. These types of firms engage in FED, or Foreign Direct Investment.FED is an investment made by a company based in one country onto a company or entity based in another country. Macs making direct investments typically have a significant degree of influence and control over the company into which the investment is made. Open economies with skilled workforces and good growth prospects tend to attract larger amounts of foreign direct investment than closed, highly regulated economies (www. Investigated. Com, 2014). FED can have numerous risks and obstacles for the NC involved. Olds, or Less Foreign direct investment can be an important source of employment opportunities for developing countries.However, anti-corporate advocates criticize Macs for entering Olds that have low human rights or environmental standards. They claim that multinationals give rise to large merged conglomerations that reduce competition and free enterprise, ra ise capital in host countries but export the profits, exploit countries for their natural resources, limit workers' wages, erode traditional cultures, and challenge national sovereignty. However, they remain attractive to investors due to low costs of labor, poorly enforced environmental and economic regulations, and inexpensive resources (www. Investigated. Com, 2014). Economic risk depends on the foreign country's financial state. A country with stable finances and a sound economy will be more attractive to foreign investors than one that has currency fluctuations and difficulty paying debt. Trade barriers and shareholder diversification issues can all be part of the economic risks taken on by a NC that is contemplating FED (Nun & Arsenic, 2012). Trade barriers can often be overcome by moving trade through other countries without trade restrictions.In the case of physical trade barriers, such as poor transportation, FED can be put into place to improve infrastructure and reduce tr ansportation costs (Nun & Arsenic, 2012). Political risk emerges when the political climate in a foreign country becomes unfriendly to investors. Political risk can be classified into three types: transfer risk, operational risk, and control risk. Transfer risk arises from uncertainty about cross border flows of capital and payments. Operational risk arises when the host country's policies affect the NC.Lastly, control risk is caused by uncertainty about the host country's policies regarding ownership and control of local operations (Nun & Arsenic, 2012). When contemplating investing in a OLD, the NC should take care to meticulously search and define the level of risk for doing business with the OLD they are considering, and also outline possible solutions in case of risk exposure. For example, those seeking more in-depth coverage of a particular country or region, two excellent sources of objective, comprehensive country information are the Economist Intelligence Unit and the Centr al Intelligence Agency World Fastback.Either of these resources provides an investor with a broad overview of the economic, political, demographic and social climate of a country. The Ell-J also provides ratings for most of the world's countries. These ratings can supplement those issued by Moody's, S and the other â€Å"traditional† ratings agencies (www. Investigated. Com, 2014). After completing the country analysis, the investing NC will have to decide on a sound investment approach. One of the recommended approaches is for the NC to invest in a broad international portfolio.Diversification is a fundamental principle of domestic investing, and is even more important when investing internationally. Even in a more concentrated portfolio, investments should be spread among several countries to maximize diversification and minimize risk (www. Investigated. Com, 2014). After deciding where to invest, an investor must decide which type of investment to enter. The choice of inve stment vehicle depends on each investor's individual knowledge, experience, risk profile and return objectives. When in doubt, it may make later.In addition to thoroughly researching prospective investments, an international investor also needs to monitor his or her portfolio and adjust holdings as conditions dictate. As in the U. S. , economic conditions overseas are constantly evolving, and political situations abroad can change quickly, particularly in emerging r frontier markets. Situations that once seemed promising may no longer be so, and countries that once seemed too risky might now be viable investment candidates (www. Investigated. Com, 2014). Final Exam Answer four of the following seven essay questions. Essay answers should be in paragraph form using complete sentences. (No bullet points) Use PAPA style for citations as needed. Exams may be subject to student submission using Turning at the professor's discretion. Your answers should be submitted as a Word file attached to an email sent to me by the start of class on March 5th. While brevity Is the soul of wit, essay answers should err on the side of completeness versus brevity.That said, I don't want to see the answer to any question go beyond two single-spaced hypocrites pages using a font size of 10-12 points. 1. Congratulations! You have Just been elected ruler off small OLD. What steps will you take to manage the country's balance of trade, and Its currency? Name and use an actual country don't make one up. Sierra Leone is a country that is rich in agricultural and mining resources, yet the great majority (over 70%) of the country still lives in poverty. Economic growth is hin dered by disadvantageous exchange rates and government budget deficits.As the recently elected President of Sierra Leone, I will take any and all necessary steps o bring this beautiful country out of poverty (www. Henbane. Org, 2014). Sierra Leone Is currently working with the International Monetary Fund (MIFF) to implement changes and improvements in our country's economic system. Sierra Leone has made important strides in economic reconstruction and macroeconomic as well as political stability since the end of the civil conflict in 2002. Economic growth has strengthened in the last two years with a stream of iron ore production and increased Infrastructure Investment.As the new president, I will continue working with the MIFF to manage the balance of trade and stabilize our currency (www. MFC. Org, 2013). In regards to Sierra Lens's currency, the exchange rate system is classified as floating, with the value of the Leone (currency) determined by the market. Currently, the central banks interventions are limited and aimed at smoothing volatility in the market. In order to stabilize the currency, I will diligently work with the Bank of Sierra Leone (BOSS) and with the MIFF to Introduce a stringent stabilization policy and reduce our country's debt.This policy will be aimed at first and foremost at tightening monetary regulations and reducing government borrowing. I will encourage the BOSS o move from a wholesale foreign exchange auction system to a retail auction system available to importers. This will enhance the currency's stability in the market as well as improve competitiveness. I will also work with the BOSS to improve monetary policy signaling, address remaining gaps In banking supervision, monetary and foreign exchange operations. I initiatives to encourage the development of micromanage in rural areas.Lastly, and perhaps most importantly, I will continue to work with the MIFF and the BOSS to develop a financial literacy campaign that will help to spr ead knowledge and titivation to continue efforts to stabilize the currency (www. Miff. Org, 2013) As president, I have also been charged with stabilizing trade in Sierra Leone. One of the biggest challenges in trade in Sierra Leone is that of smuggling and illicit trading activities. Sierra Leone is known for mining, especially diamonds, but poor regulation and policy enforcement, and high levels of corruption that lead to considerable levels of money laundering activities.As president, I will establish stricter controls and taxes around the mining trade, and crack down on corrupt government officials. I will continue to work with the government-created mining community development fund (DACCA), created to raise local communities' stake in the legal diamond trade, which returns a portion of diamond export taxes to diamond mining communities (www. Heritage. Org, 2014). Throughout my term as president, I hope to create a great economic turnaround for Sierra Leone, not only through bal ancing the currency and trade in the country, but through many more positive changes.I hope that by reducing budget deficits and improving the fiscal position of the government, I will be able to rehabilitate our social and economic infrastructure, stabilize the economy and provide a better life for Sierra Lens's people. 2. Compare and contrast the different methods of hedging transaction exposure. Include both derivative and non-derivative solutions. Transaction exposure is one of three types of foreign currency exposure. It is a type of risk that companies involved in international trade will face when entering fixed-price financial contracts.The risk occurs after the financial contract is made, and the subsequent fluctuations in currency exchange rates occur randomly and unpredictably. Although transaction exposure is considered short-term economic exposure, these changes in exchange rates can still affect the contract negatively, resulting in significant losses for the firm. The refore, companies participate in various hedging activities to avoid losses from transaction exposure (Nun & Arsenic, 2012). In transaction hedging, there are both derivative as well as non-derivative solutions. Derivatives are simply a contract between two parties.One of the ways which firms hedge transaction exposure is through the use of derivatives such as options contacts. Options are contracts used to reduce the risk of transactions by sing calls (sell) or puts (buy) on a financial asset at an agreed-upon price at some time in the future, which is known as exercising the option. Options also have a maturity or expiration date. In Europe, options can only be exercised at their maturity date, whereas in the United States, options can be exercised any time during the contract (Nun & Arsenic, 2012). Another derivative solution is a futures contract.Futures contracts are an agreement to buy or sell an asset at an agreed-upon price in the future. Unlike options, futures contracts ar e standardized for an amount of the asset, and are usually transacted to exit the market. Hedgers avoid price variation in the market by and pass off risk to a speculator who will take a long or short position in the futures contract. The speculator is considered to be more willing to take on the price risk variation. Futures contracts are short-term and profits and losses are realized on a daily basis (Nun & Arsenic, 2012).Somewhat similar to a futures contract is a forward contract. Forwards are also a contract to buy or sell an asset at an agreed-upon price in the future, however, forward contracts have a specific maturity date unlike the daily settlements used in uterus contracts. Rather than being a standardized contract, forwards are tailor made to the needs of the participants. Also different than futures is that when trading forwards, forwards are often settled through the delivery of goods or cash (Nun & Arsenic, 2012).There are numerous other types of derivatives used to m itigate foreign exchange risk, but the most common are forward and futures contracts, futures options, and swaps which will be discussed later in this exam (Nun & Arsenic, 2012). Many Macs also participate in non-derivative methods for hedging transaction risk. These are often used if a firm has positions in less liquid currencies. In order to mitigate risk in these cases, cross-hedging is a common technique in which a firm will hedge a position in one asset by taking a position in another asset.Effectiveness of cross-hedging is highly dependable on the strength of the relationship between the commodity futures prices and the exchange rate (Nun & Arsenic, 2012). Another non-derivative method to avoid transaction exposure is hedging via lead and lag. A company can lead, to pay or collect on an invoice early, or lag, which means to pay or collect late. By timing the lead and lag strategy correctly, the firm can protect themselves against depreciation or appreciation of the foreign cur rency they are dealing in (Nun & Arsenic, 2012).Hedging through invoice currency can help firms diversify exchange exposure by using currency basket units. A currency basket is a selected group of currencies in which the weighted average is used as a measure of the value of a contract or obligation. It functions as a benchmark for regional currency movements. Because it is a portfolio of currencies, its value is more stable and can be useful as a hedging LOL, especially for long-term contracts where there are no forward or options contracts available (Nun & Arsenic, 2012).The last non-derivative form of transaction hedging that we will discuss is that of exposure netting. Exposure netting helps to centralize a firm's exchange exposure management function in one location, typically in a reinforce center. All invoices from nitrating transactions are sent here, where overall exposure is analyzed and determined. Foreign exchange experts can then determine the optimal hedging methods for the portfolio of transactions and move forward to implement them (Nun Arsenic, 2012). Overall, we have seen that there are numerous options to hedge transaction exposure.There are some similarities among them, but they differ from each other and are applicable to different needs. Derivative forms of hedging are typically contractual, relatively short term solutions to transaction exposure, whereas non- lifestyle. No matter what the case, however, it is prudent for any NC to determine a strategy for transaction hedging before going into significant overseas contracts. 3. Compare and contrast a plain vanilla currency swap with a plain vanilla interest rate swap. Describe and Justify a situation where a NC would use each type of swap.As discussed briefly above, swap transactions are a type of derivative used to mitigate currency exposure in forward trades. A swap is an agreement between two parties to exchange a sequence of cash flows over a period of time- a simultaneous sale of spot foreign exchange against a forward purchase of an equal amount of foreign currency (Nun & Arsenic, 2012). A plain vanilla interest rate swap is the most common and simplest type of swap. They are customized contracts that can be paid monthly, quarterly, yearly, or on a basis decided on by the firms involved.In a plain vanilla interest rate swap, one part agrees to pay the contract at a fixed interest rate, while the other party agrees to pay at a floating interest rate, and the two cash flows are paid in the same currency. The swap typically has a set date of maturity set at some point in the future (MacAfee, 2012). A plain vanilla currency swap, unlike the plain vanilla interest swap, interest and principal payments on a loan are exchanged in 2 currencies. In the plain vanilla currency swap, the two parties exchange payments at the beginning and end of the swap, which also differs from interest rate swaps (MacAfee, 2012).In the case of plain vanilla interest rate swaps, Macs or Mi ff would use these when they are paying a floating rate of interest on liabilities and earning a fixed rate of interest on assets. It can be highly risky for a firm to have such a mismatch between assets and liabilities. Therefore, the firm could use a plain vanilla interest rate swap to rectify the imbalance in their interest payments (MacAfee, 2012). For the case of the plain vanilla currency swap, a firm would be interested in conducting this type of swap when the firm wants to expand operations into another country, but has comparative advantage in its home country.The firm will likely have more favorable financing in its home country, and therefore could perform a currency swap with the country it is expanding into, and gain the necessary funds in the new currency to finance its startup and operations (MacAfee, 2012). 4. Discuss the issues and potential solutions for a NC contemplating foreign direct investment in a OLD. By definition, a NC or Multinational Corporation, is regi stered and/or has operations in more than one country. These types of firms engage in FED, or Foreign Direct Investment.FED is an investment made by a company based in one country onto a company or entity based in another country. Macs making direct investments typically have a significant degree of influence and control over the company into which the investment is made. Open economies with skilled workforces and good growth prospects tend to attract larger amounts of foreign direct investment than closed, highly regulated economies (www. Investigated. Com, 2014). FED can have numerous risks and obstacles for the NC involved. Olds, or Less Foreign direct investment can be an important source of employment opportunities for developing countries.However, anti-corporate advocates criticize Macs for entering Olds that have low human rights or environmental standards. They claim that multinationals give rise to large merged conglomerations that reduce competition and free enterprise, ra ise capital in host countries but export the profits, exploit countries for their natural resources, limit workers' wages, erode traditional cultures, and challenge national sovereignty. However, they remain attractive to investors due to low costs of labor, poorly enforced environmental and economic regulations, and inexpensive resources (www. Investigated. Com, 2014). Economic risk depends on the foreign country's financial state. A country with stable finances and a sound economy will be more attractive to foreign investors than one that has currency fluctuations and difficulty paying debt. Trade barriers and shareholder diversification issues can all be part of the economic risks taken on by a NC that is contemplating FED (Nun & Arsenic, 2012). Trade barriers can often be overcome by moving trade through other countries without trade restrictions.In the case of physical trade barriers, such as poor transportation, FED can be put into place to improve infrastructure and reduce tr ansportation costs (Nun & Arsenic, 2012). Political risk emerges when the political climate in a foreign country becomes unfriendly to investors. Political risk can be classified into three types: transfer risk, operational risk, and control risk. Transfer risk arises from uncertainty about cross border flows of capital and payments. Operational risk arises when the host country's policies affect the NC.Lastly, control risk is caused by uncertainty about the host country's policies regarding ownership and control of local operations (Nun & Arsenic, 2012). When contemplating investing in a OLD, the NC should take care to meticulously search and define the level of risk for doing business with the OLD they are considering, and also outline possible solutions in case of risk exposure. For example, those seeking more in-depth coverage of a particular country or region, two excellent sources of objective, comprehensive country information are the Economist Intelligence Unit and the Centr al Intelligence Agency World Fastback.Either of these resources provides an investor with a broad overview of the economic, political, demographic and social climate of a country. The Ell-J also provides ratings for most of the world's countries. These ratings can supplement those issued by Moody's, S and the other â€Å"traditional† ratings agencies (www. Investigated. Com, 2014). After completing the country analysis, the investing NC will have to decide on a sound investment approach. One of the recommended approaches is for the NC to invest in a broad international portfolio.Diversification is a fundamental principle of domestic investing, and is even more important when investing internationally. Even in a more concentrated portfolio, investments should be spread among several countries to maximize diversification and minimize risk (www. Investigated. Com, 2014). After deciding where to invest, an investor must decide which type of investment to enter. The choice of inve stment vehicle depends on each investor's individual knowledge, experience, risk profile and return objectives. When in doubt, it may make later.In addition to thoroughly researching prospective investments, an international investor also needs to monitor his or her portfolio and adjust holdings as conditions dictate. As in the U. S. , economic conditions overseas are constantly evolving, and political situations abroad can change quickly, particularly in emerging r frontier markets. Situations that once seemed promising may no longer be so, and countries that once seemed too risky might now be viable investment candidates (www. Investigated. Com, 2014). Final Exam The response to each question or statement is either True or False. 1. A business organized as a separate legal entity owned by stockholders is a partnership. 2. External users of accounting information are managers who plan, organize, and run a business. 3. Two primary external users of accounting information are investors and creditors. 4. Financing activities for corporations include borrowing money and selling shares of their own stock. 5.Income will always be greater under the cash basis of accounting than under the accrual basis of accounting. 6. The difference between unearned revenue and accrued revenue is that accrued revenue has been recorded and needs adjusting and unearned revenue has never been recorded. 7. Cash is a temporary account. 8. Bonding means insuring a company against theft by employees. 9. The treasurer should prepare and sign a check only after authorization to issue a check has been provided. 10. Using borrowed money to increase the rate of return on common stockholders' equity is called â€Å"trading on the equity.The extent of internal control features adopted by a company must be evaluated in terms of cost-benefit. 11. A good system of internal control will safeguard its assets and enhance the accuracy and reliability of its accounting records. 12. All reconciling items in determining the adjusted cash balance per books require the depositor to make adjusting Journal entries to the Cash account. 13. Cash equivalents include money market accounts, commercial paper, and U. S. Treasury bills held for ninety days or less. 14. A basic principle of cash management is to increase the speed of paying liabilities. 5.A cash budget contributes to more effective cash management. 16. A change in accounting principle occurs when the principle used in the current year is different from the one used by competitors in the current year. 17. If a company has sales of $110 in 2007 and $154 in 2006, the percentage decrease in sales from 2006 to 2007 i s 140%. 18. In a common size income statement, each item is expressed as a percentage of net income. 19. Profitability ratios are frequently used as a basis for evaluating management's operating effectiveness 20. Inventory turnover is a measure of equity that focuses on efficient use of inventory. 1 . The current ratio is a measure of all the ratios calculated for the current year. 22. From a creditor's point of view, the higher the total debt to total assets ratio, the lower the risk that the company may be unable to pay its obligations. 23. Alternative accounting methods affect the quality of earnings 24. Because pro formal earnings are based on specific rules, these amounts are highly reliable. Section II: Multiple Choice Choose your response from one of the possible answers provided. 26. A business organized as a corporation ). Is not a separate legal entity in most states. ). Requires that stockholders be personally liable for the debts of the business. C). Is owned by its stoc kholders. D). Has tax advantages over a proprietorship or partnership. 27. Which of the following is not one of the three forms of business organization? A). Corporations. B). Partnerships. C). Proprietorships. D). Investors. 28. An advantage of the corporate form of business is that a). It has limited life. B). Its owner's personal resources are at stake. C). Its ownership is easily transferable via the sale of shares of stock. ). It is simple to establish. 29.The group of users of accounting information charged with achieving the goals of the business is its a). Auditors. B). Investors. C). Managers. D). Creditors. 30. Which of the following is a primary user of accounting information with a direct financial interest in the business? A). Taxing authority b). Creditor c). Regulatory agency d). Labor union 31 . An income statement a). Summarizes the changes in retained earnings for a specific period of time. B). Reports the changes in assets, liabilities, and stockholders' equity ov er a period of time. C). Ports the assets, liabilities, and stockholders' equity at a specific date. ). Presents the revenues and expenses for a specific period of time. 32. Which financial statement is prepared first? A). Balance sheet b). Lonesome statement c). Retained earnings statement d). Statement of cash flows 33. Which one of the following is not a Justification for adjusting entries? A). AdJusting entries are necessary to ensure that revenue recognition principles are followed. B). AdJusting entries are necessary to ensure that the matching principle is followed. C). AdJusting entries are necessary to enable financial statements to be in conformity tit GAP. D).AdJusting entries are necessary to bring the general ledger accounts in line with the budget. 34. If a resource has been consumed but a bill has not been received at the end of the accounting period, then a). An expense should be recorded when the bill is received. B). An expense should be recorded when the cash is p aid out. C). An adjusting entry should be made recognizing the expense. D). It is optional whether to record the expense before the bill is received. 35. An adjusting entry would not include which of the following accounts? A). Cash b). Lintiest Receivable ).Property Tax Payable d). Unearned Revenue 36. At December 31, 2007, before any year-end adjustments, Boils Company's Prepaid Insurance account had a balance of $2,700. It was determined that $1,500 of the Prepaid Insurance had expired. The adjusted balance for Insurance Expense for the year would be a). $l ,500. 0. $2,700. D). $1,900. 37. Which one of the following is not an objective of a system of internal controls? A). Safeguard company assets b). Overstate liabilities in order to be conservative c). Enhance the accuracy and reliability of accounting records d).Reduce the risks of errors 38. Which one of the following would be considered a long-term solvency ratio? A). Receivables turnover b). Return on total assets c). Curre nt cash debt coverage ratio.

Nursing Informatics Annotated Bibliography Example | Topics and Well Written Essays - 500 words

Nursing Informatics - Annotated Bibliography Example In particular it explores risk assessment for patients with suicidal characteristics and those who are a danger to others. This tool is useful and practical in such nursing. The article is insightful and thorough with the illustrations of what makes an electronic health record and how necessary the assessment tool is. The nursing work place today requires high skilled professional with knowledge in both nursing and technology. Informatics in nursing is important competencies. This is a study that focused on identifying the competencies of nurses in informatics as required in Taiwan. The study used questionnaires to gather information from administrators, educators and expert groups in nursing. This study provides a master list of competency requirement in nursing requirements. It is important for my research as the results are of international relevance in outlining the world wide importance of information in technology. Koivunen, M., Và ¤limà ¤ki, M., & Hà ¤tà ¶nen, H. (2010). Nurses’ information retrieval skills in psychiatric hospitals–Are the requirements for evidence-based practice fulfilled? Nurse Education in Practice, 10(1), 27-31. The authors of this article are all nurses with advanced degrees, either master’s or doctorate degree. This paper aims to describe the skills that nurses have in using the internet and literature databases in psychiatric hospitals. Nurses are known not to use research findings in their practice. The study was carried out in two Finland psychiatric hospitals, and the results were showed clear deficits in information retrieval skills. This source will guide in getting the right information to incorporate in educating nurses in these skills. The findings are central to advancing knowledge about the value of nursing informatics in the psychiatric setting. Gonge and Buus who work in psychiatric department and a public health institute in Denmark respectively undertook this

Factors that Motive and Demotivate Young Males in the U.K. to Purchase Dissertation

Factors that Motive and Demotivate Young Males in the U.K. to Purchase Luxury Clothes Online - Dissertation Example The growth of the luxury market is attributed mainly to the emotional attachments consumers have with certain luxury brands. The growth has particularly been witnessed in the luxury clothing market that has experienced rising sales volumes. Online shopping which involves buying of goods or services directly over the Internet has grown in popularity over the past couple of years. The growing popularity of online stores or electronic shops is evident in the fact that they have increased in number. While there are countless online stores, a few of the popular ones include eBay and Amazon.com. Online shopping has several advantages to shoppers and marketers alike. Their main advantage is their convenience and capacity to link buyers and sellers who are separated by great distance. 1.2 Statement of the Problem The number of people performing online shopping in the U.K. and indeed across the globe is rising by the day. While this is a general trend, there are people who do not like to enga ge in online shopping for various reasons or as a result of various barriers. Young males in the U.K. love to own luxury clothes, especially if finance is not a limiting factor. While some of the males prefer to purchase luxury clothes online, a significant portion of the population would rather go to brick and mortar shops to make similar purchases. This study is dedicated to establishing the factors that motivate and demotivate young males in the UK to purchase or avoid purchasing luxury clothing online. This study is necessary since there is no such study that has been conducted in the U.K. before.The study will therefore fill the knowledge gap that currently exists in this respect. 1.3 Research... Traditionally, people have been used to purchasing products directly from physical stores. This method demands the physical presence of consumers at the store when selecting the products. However, the trend has changed tremendously over the last few decades because of technological advancements. According to Hasan, the developments witnessed in new media technologies ranging from the Internet, CD-ROMS, interactive kiosks, to digital TV and radio have ushered in a new era. The new media have not only changed marketing communication but have also influenced consumers’ behavior. Hasan argues that the advent of new technologies such as theInternet has changed the way consumers behave.According to Arens, online shopping enables consumers to place orders by giving a description of the product or service over the Internet. Once the order is received, the product is delivered to the consumer at the closest point of collection. Apart from offering consumers, a better way of viewing pro ducts and services offered at the store, it also builds a close relationship between consumers and marketers.

He Said, She Said Essay Example | Topics and Well Written Essays - 500 words

He Said, She Said - Essay Example some point, these destructive procedures of communication at times happen when two persons are in a discussion that is involving problems or personal troubles. Because of the tension that is usually built up due to the problem being talked about, the sense of right reasoning is usually lost because of the lack of understanding that exists due to the tension. To be able to understand everything, the twelve roadblocks should be discussed herein in a clearer pattern: This is the way by which a person intends to manipulate the thinking of the other person through questioning the attitudes of the other. Not only that, the situation usually aggravates the questioning of the attitude of the other towards the other person. Robert Bolton comments on the matter saying: â€Å"Many of us feel we need to be critical, or other people will never improve we make a negative evaluation of the other person, for his or her actions, or attitudes.† (1999) The attitude of man to even aggravate the situation being faced by the other because of some emotional attachment to the issue makes this particular roadblock an effective way of stopping or heating up a particular conversation. At some point, when people get pissed off because of a heated conversation, they tend to course the other or at times they name-call the others with insulting titles that makes it hard for the other party of communication to understand clearly what is happening. The result then leads to a more aggravated heated conversation. Bolton further adds, â€Å"Name calling and labeling usually have negative overtones to both the sender and receiver. Labeling prevents us from getting to know ourselves and other individuals.† (1999) At some point, when people argue over something, they become too much sensitive with how the other reacts upon a certain situation or how a person intends to talk back to them. The sensitiveness results to diagnosis of the reaction of the other and the way of speech that he or she uses

Reflection paper on Nancy Andreasen's book, Brave New Brain Essay

Reflection paper on Nancy Andreasen's book, Brave New Brain - Essay Example A similar treatment has been appropriated by many experts with regards Nancy Andreasens book titled, Brave New Brain: Conquering Mental Illness in the Era of the Genome in which the author contends that the mapping of the brain and the human genome, occurring seemingly at the same time, has brought forward a new and effective understanding of the biological origins of mental illness. For many, this only implies that ‘biological understanding’ would refer to evolution, setting aside the teaching of Christianity which states that God intervenes on human affairs. For others, the Christian approach of ministering to individuals with mental illness will be considered inept and ineffective as this does not mesh with the ‘scientific procedure’ of administering to people with mental disabilities. In her book, Nancy Andreasens notes that the convergent research focusing on the genome and mental illness is a fascinating development as it transformed the way we think of mental illnesses and their implications. First, with the utilization of new technology in neurology and psychiatry, experts are able to link the illnesses of the mind to biology and all illnesses have biological basis, even schizophrenia (Andreasen 4). This of course, does not conform to some Christian notions that mental illness is a result of demon possessions or is something related to superstition. Thus, Nancy Andreasen asserts that the best treatment should be one which varies from one patient to another. Clearly, the holistic approach to the treatment of mental illnesses is no longer acceptable. Some of the methods which Andreasen are ones that are based on science such as genomics and neuroimaging as she states that ‘mental illnesses are diseases of the brain that can be understood and treated using established scientific tools’ (Andreasen 7). What is considerable to note here is that Andreasen’s contentions that the brain ‘teaches itself to learn’ pose a

Theories of Attachment Essay Example | Topics and Well Written Essays - 500 words

Theories of Attachment - Essay Example New longer-term research studies had likewise shown that bonding occurs not only if the mother cares for the child but also with the fathers (Belluck, 2011, p. 1) in which fatherhood is a crucial component in raising successfully the child and of nurturing a family. One attachment theory developed by psychiatrist and psychoanalyst John Bowlby had emphasized the need of infants to have one consistent primary caregiver to whom they can attach normally during their social and emotional development, typically from 6 months to 2 years old. Usually, it is the mother that provides the need for an attachment figure but other people may in some cases be acceptable such as the father, the grandmother, the older sibling or close relatives. Another prominent theory on bonding is the one developed by Klaus and Kennell which states that maternal bonding is important which in turn gave rise to the new practice of bringing a new baby to its mother instead of being brought to the nursery. The theory became controversial as they postulated that maternal deprivation can lead to maladjustments later on such as an eating disorder, personality defects, juvenile delinquency and substance abuse by a failure to bond. I believe the attachment theory that is best aligned and integrated with my own views of attachment is the single caregiver theory. Infants stick to one caregiver during their first months of existence and any changes will result in the so-called separation anxiety as the infant grows a bit older and able to recognize faces and voices. It is therefore very vital to have only one person as the primary caregiver, maybe relieved by someone else but only for brief periods of time so as not to cause stress, anxiety, fear or other negative emotions on the baby who sees long periods of separation as a threat to its survival. The attachment theory by Bowlby is now

Statement for Applying Leadership Award Personal

For Applying Leadership Award - Personal Statement Example To elucidate in greater detail, since 2006 I have been a designated outreach executive for Cuts For Cancer, an annual event in which students are given the unique opportunity to help ease the suffering of children and cancer sufferers. In this capacity I have spearheaded numerous fundraising initiatives for those suffering from long-term hair loss stemming from the effects of cancer treatment. Locks of hair are sent to a company which turn them into wigs, and this in combination with cash donations result in synergistic benefits for our recipients. Last year alone we successfully raised $15,000 , including an encouraging total of 196 hair donations. As an outreach executive my responsibilities included the promotion of our organization, utilizing local media channels including major broadsheets, television, and radio stations. I also have a marked interest in health-care related issues, volunteering at the emergency waiting area of St. Paul's Hospital during the summer of last year. During my short tenure I tended to the immediate needs of the patients, doing my best to lift their spirits and boost their morale. In addition, I am also currently a group leader for the In-Sight mentoring program, helping freshmen do well academically as well as making sure that they are engaged in well-meaning, worthwhile activities.

Descartes Meditation Essay Example | Topics and Well Written Essays - 750 words

Descartes Meditation - Essay Example Despite the fact that Descartes does recognize him to be a being that is imperfect, he has an ability to entertain God’s idea as a perfect existence. The fact that he is not able to form such an idea by himself, there has to be the idea’s greater course. This argument basis itself on a scholastic belief that there has to be as much reality within the cause same as within the effect (Rene, p.70). Therefore, any perfection ideas require their perfect causes. To respond to the argument, one can deny the principle as well as claim not to have God’s perfect Idea. Rather, an individual can claim to have an approximation only, of the perfect idea. Due to the fact that individuals’ idea of God would not be perfect then, it would not need a perfect course, as well as the conclusion, would not follow. It is in the fifth meditation that the second argument of God’s existence occurs. Despite the fact the there is different wording, it recalls the ontological argument of Anselm in the 11th century. Descartes’ consideration here is the perfect being idea as well as what is contained in such an idea. If the being happens to perfect truly, then it would not lack anything. Consequently, there is no chance that it would lack existence. Therefore, the essence of God does contain his existence (Rene, p.89). God’s existence argument following essentially from his essence has implications as well for the thought of the evil deceiver that is mentioned within the 1st meditation. If god happens to be perfect, there is no way he can be a deceiver. In addition, there is no way he can lead an individual into error. Deceit, as well as an induced error, would not be consistent with an imperfect being’s character. Due to the fact that he cannot lead an individual into error, the individual will be able to obtain knowledge on all the matters he doubted within the 1st meditation, particularly the truth on material objects. Descartes claimed that error does not  arise within the ideas of individuals, which are within individuals’ conscious states themselves, however, in judgments that individuals make, there exists something distinct from individuals’ conscious ideas, which cause such ideas to exist within the conscious minds of individuals.  

Teen pregnancy Essay Example for Free

Teen pregnancy Essay Teenage pregnancy is a social problem that has existed for over a century and has always been a great concern to every nation due to the numerous adverse consequences it brings on both the economy and society at large. In the middle of the 70s, teenage pregnancy had reached an astronomical height that it was described as â€Å"epidemic† by the Alan Guttmacher Institute in a booklet entitled â€Å"11 Million Teenagers† which was widely circulated at the time (Gallagher, M. , 1999). This, in fact, put pressure on Congress at the time to pass a bill that would increase family planning fund by hundred percent as a strategy to curtail teenage pregnancy â€Å"epidemic† (Gallagher, M. , 1999). The rate of Teenage Pregnancy rose from 23. 9 births per 1000 single female teenagers in 1975 to 31. 4 in 1985, and to 46. 4 in 1994. In the last part of the 90s, the rate had dropped by16 percent. For teenagers between 15 and 19 years, the rate of teen pregnancy had dropped by 36 per cent by 2002 and 33 per cent by 2004 (Gallagher, M. , 1999). Until recent times, Teenage pregnancy was considered an abomination and a mockery to a family. It carried a stigma and a disgrace to the young mothers and their immediate families. The young mothers were often considered sinners and the children born out of wedlock were referred to as bastards or illegitimate. The horror and the disgrace that was immediately associated with giving birth to bastards or illegitimate children, kept teenage pregnancy at the lowest minimum (Sprague, C. , 2009). In the 20th Century, the attitude of society toward teen mothers and their children or teenage pregnancy in general changed; society looked at them with compassion. Soon the horror, the intimidation, and the stigma that surrounds teenage pregnancy dissipated. This has, in no simple terms, contributed to the current level of teen pregnancy in our society. Though the rate of Teenage Pregnancy has declined in the United States in the last decade, it is still considered high, relative to other developed countries such as Sweden, Great Britain, and Denmark. Teenage pregnancy is a real social problem that requires all and sundry in finding a lasting solution to it. What makes teen pregnancy a huge problem lies in the negative effects it brings. The purpose of this work is to discuss some of the effects of teenage pregnancy which include health issues, school dropouts and dependency on the public for economic support. One striking effect with teenage pregnancy is the high propensity for the pregnant teenager to suffer some health problems. Very often, teenagers who become pregnant try to hide their pregnancy from their parents and in so doing, they do not get the necessary medical attention that initial pregnancy requires or may use crude means to abort the baby which can result in bleeding and death. About 33% of pregnant teenagers do not receive proper prenatal care and monitoring (Sprague, C. , 2009). This can result in an increased risk of miscarriage, anemia and high blood pressure in the pregnant teenager. Also, children born to teenage mothers usually exhibit low birth weight which is accompanied with other health hazards like respiratory disease, bleeding in the brain, and intestinal problems. All these account for the high mortality rate for infants born to teenage mothers than those born to women older than 20. This will in effect put some financial demand on the families of the teenage mothers. Another effect that has captivated the attention of civil society is the rate at which pregnant teenagers drop out of school. Drop outs today are ill-effects for future labor force; a situation which can cause poverty and semi-illiterates which civil society considers very serious in the development of a nation. Research shows that between 30 to 35 per cent of pregnant teenagers drop out of school compared to the 6 per cent of non-pregnant teenagers (Sprague, C. , 2009). Dropping out of school has an inherent effect on the teenage mothers; the early pregnancy deprives them of getting the necessary education and skills that will ensure them of rewarding and stable jobs. Finding a regular source of income therefore, becomes extremely difficult for teenage mothers as every job position requires certain skills. Their inabilities to secure jobs lead them to falling on the public for financial support. Finally, pregnant teenagers are likely to encounter abject poverty if they do not have a strong financial backing from their parents. Surprisingly, a higher percentage of these teens come from either broken home or staying with single parents, and are already living in poverty (Gallagher, M). Also, most of these teens are unmarried and likely to be single mothers which will cause them to face further acute economic hardships than if they were married. The only alternative at their disposal to partially solving their economic predicaments in the short run is to seek public assistance; that is, relying on welfare which includes food stamp. Over 80 per cent of teen mothers go on welfare within three years of giving birth (Sprague, C. , 2009). If the teen mother does not go back to school to attain any profession which is mostly the case, their daughters are more likely to become teen mothers and it becomes a vicious cycle. There are numerous effects of teenage pregnancy but the limit of this paper cannot exhaust all of them. In conclusion, teenage pregnancy is one source that can cause health, economic and educational setbacks not only in the lives of teenagers who allow them to be impregnated but generations down the â€Å"road†. All these can be averted if teenagers are taught abstinence from early sex until they have at least completed high school or attained age of 20. Where the teenagers are uncontrollable, they must be advice to use protections such as condoms but one thing is that condom is not 100 percent safe. There has been instances where condoms have torn and causing pregnancy. References

Physics Online Course Essay Example for Free

Physics Online Course Essay 1-How can you demonstrate that water is denser than ice without weighing them? What is the principle involved? Release an ice cube in water; the ice cube will float. The ice cube will displace some water as it â€Å"pushes† the water away. The principle involved is displacement. 2-The density of water is a maximum at 4 °C. Why is this property of water important for aquatic life? The maximum density being attained at   4 °C means that even if the water gets colder, the density will decrease. Therefore, ice (when it forms) floats instead of sinks. This makes the continuity of aquatic life during winter possible. 3-When two different materials are given the same amount of heat will their temperatures increase by the same amount? Explain with reasons? No. It depends on the ability of the materials to conduct heat. 4-It is generally observed that it is more difficult to cook food at high altitudes. Explain the possible reason for this? In higher altitudes, there is lower pressure. This means that water will not boil at 100 °C, but at a lower temperature, making your water not as hot as on sea-level, making cooking time longer. 5-What are the variable factors that affect the pitch (frequency) of a vibrating string? How are these factors controlled in a stringed musical instrument such as a violin? The speed and wavelength of the waves formed by striking an object. A musician controls the frequency through the strings tension and density, by pressing some of the strings. 6-If you want to see yourself fully in a plane mirror, the mirror needs to be only half your height. Draw a ray diagram showing how this is possible. Explain the diagram and principles you used. The image in the mirror looks as if the figure is far away, when in fact, it is right in front of the mirror. This is because the light received by the eye traveled in a straight line as if it came from behind the mirror. The mirror is also laterally inverted, meaning the figures right will appear as the mirror images left. References Leigh, J.R. (1988). Temperature measurement and control. USA: Institute of Engineering and   Ã‚   Technology. Sumich, J.L. and Morrissey J.F. (2004). Introduction to the biology of marine life. Massachusetts: Jones   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   and Bartlett Publishers. Pople, S. (1987). Explaining physics. United Kingdom: Oxford University Press. Dolan, G., Duffy, P. and Percival, A. (1996). Physics. United Kingdom: Heinemann.

Critic The Pestel Analysis As Model Commerce Essay

Critic The Pestel Analysis As Model Commerce Essay The topic of the project concerns research questions, which are based on previous observations over Bohemia Travel Agency. It is an interesting topic to follow, because of the arising opportunities for the company. With the long years of experience in the tourism sector, the company has already created image and during the whole years that positive image increased the profitability of the company. While becoming a leader on the market, the travel agency increased the potential of its performance, so that is the main reason of choosing the certain company and the researched questions. The investigation of finding solution to these research questions are strictly related to pursuing an appropriate theories. These theories bind together with appropriate analysis will open the future paths for increasing the business performance of the company. As mentioned in the problem formulation and the methodology the project will harshly follow the strategy of the travel agency and based on the strategic direction and choices, we will find a better ways for the company to develop and expand its business. The usage of the theory will start with examination of the macro-environment. The analysis is the first step of the planning process, as it helps to identify issues to be removed in the development and implementation of effectiveness in the business development. In this sense, it is crucial to examine the microenvironment and immediate impact on the organization. The most commonly used technique is the so-called PESTEL analysis divides the entire external environment of six segments, thus covering almost everything that can affect the organization. These six areas are: economic, political, social, technological, environmental and legal. The thing that should be considered when one PESTEL analysis is conducted is to identify the environmental factors that affect the organization in the long term, and arrange them in order of importance. When the organization develops the strategy, there is a variety of important factors they have to consider. We are going to take a look at all the factors that affect the economic environment and examine the relationship between business and the environment. This part will explain the key macro-economic variables that affect the business of the organization and will identify the trends in these variables. The PESTEL model will assess how changes might affect the company and will evaluate the strategies that the company might deploy in response. Thus, we are using that model in our research. The plan of action of the travel agency could be always ruined by the external economic changes, thus the PESTEL analysis will help us in finding out the appropriate solution for the further strate gic choices. According to Farnham (1999), the PESTEL and Porters (1980) five forces model provide a useful start for analysis the external environment and providing a crucial set of inputs for strategic development and implementation. (P. Rudolpf, 2005) It is important to critic the PESTEL analysis as model, because it clarifies the external factors of the company, but these factors (Lynch 2006) are viewed as almost uncontrollable. In addition (Sutton 1988) suggests that analysis of the external environment is undertaken to gain competitive advantage and improve long and short term planning. McMillan and Tampoe, (2000) state that the PESTEL framework represents a guide to the general environment but is based only historical data and the past, but it refers to forces of changes in the environment and can be used to forecast the future. In other words, understanding changes taking place currently is an important guide to anticipating the future (Fahey, 1986). (Aguilar 1967; Choo and Auster 1993) suggest that the external environment in relation to an organisation or business is where information that is of critical importance can be analysed. This in turn will help the strategic planning and future development of the organisations future. Organisations and businesses choose to analyse the external environment in order to understand forces out with the business or organisation that can change a proposed strategy instantly. Organisations and businesses do this in order to avoid any surprises and in turn identify threats and opportunities. Such as the SWOT/TOWS analysis, the PESTEL analysis has been discussed and proposed as an excellent tool by many authors and researchers (Lynch, Sutton, Farnham. In addition (Sutton 1988) suggests that analysis of the external environment is undertaken to gain competitive advantage and improve long and short term planning. Moreover (Lynch 2006) asserts that external factors outside the business or organization are viewed as almost uncontrollable. In addition we will say that conducting the PESTEL analysis will be much more reliable than any other models, because it strongly influences our further strategic choices. The next step of in understanding the firms competitiveness is to look at the competitive arena in an industry. Porter five forces model is created by Michael Porter in Harvard University (1979). The aim of the model is to analyze the industry in order to identify the level of intensity regarding the competition and attractiveness of the industry. A good technique for analysing the microenvironment is Porters five forces model that helps to identify the level of competition in an industry (Stonehouse, 2001). However, it is essential, by using this model, to consider the characteristics of the industry in regard to technological and economical environmental aspects and the influence of the government in regulation competition (Porter, 1980). According to variety of authors (Porter, Kotler, Lynch, Hollensen etc.) the external environment should be accompanied with competition analysis. That is why our next step will be based on the authors advices. In our case, that is the Porters five forces analysis. As already described in the methodology part (see the previous chapter above), the Porters five forces are going to clarify our picture of the competition in the tourism sector of the chosen travel agency. One of the most useful frameworks for analyzing the competitive structure has been developed by Porter. Porter (1980) suggests that competition in an industry is rooted in its underlying economic structure and goes beyond the bahaviour of current competitors. (Hollensen, 2010) As we can see, one of the authors following the Porters model is Svend Hollensen, who as an Associate Professor can confirm the benefits of using the Porters five forces as a constructive model of analyzing the competition in the industry. Moreover (Hollensen, 2010) asserts that the goal of competition analysis is to find a position in industry where the company can best defend itself against the five forces, or can influence them in its favour. If we agree with Hollensen (2010), there will be two possible outlines for our travel agency positive and negative. But no matter of the final results, in overall, the analysis will ensure and confirm our further strategic choices and will influences on our proposal of investment plan. Michael Porters five forces model was also harmed of other authors criticism, such as Lynch who says that the model assumes that there are no changes in the industrial environment but in fact the market is very flexible. This is shown for example on the enormous growth of the e-commerce sector. If you use this tool, you have to repeat this analysis continuously. (Lynch, 2009, p. 101-102) The main reasons why Porters five forces has endured much criticism are that the world radical economic changes has occurred since the time the model has been developed; there is a very strong impact of internet on the industry. Of course, the recent years, there are authors, investigating the strategic planning in the business and one of them Larry Downes stated that Porters five forces are no longer viable. Due to that reason, Downes has developed three new forces, which are: Digitalization, Globalization, and Deregulation. Downes insists that Porters five forces model is obsolete. Downes arguments are convincing. In fact, digitalization, globalization and deregulation have become powerful forces during the last years, but Porters models rarely take them into consideration. Todays markets are highly influenced by technological progress, especially in information technology. Therefore, it is not advisable if not to say impossible to develop a strategy solely on the basis of Porters models. (Recklies, 2008) Downes critique of Porter implies that Porters models focus too much on the economic conditions of their era of origin. Therefore, their viability is limited under changed conditions. We need to add here that Downes new forces are derived from the economic conditions of their particular era too. Within some years or decades, they will have lost some of their importance because other developments have taken over the driving role. (Downes, 1997) Further criticism comes from those who say the model simply provides a snapshot of an industry, rather than a more dynamic picture which says something about the future, and can be more readily translated to strategy. Lawton argues, however, that the idea of assessing substitutes does bring dynamism, highlighting where the challenges will come from. Then there are those who criticise the model for having missed out a vital stage in the process of assessing the market. Lampel says: It doesnt explain how to define the industry, and sometimes that is a tricky question. Porter picked industries that were easy to identify, but a lot of people get the industry wrong, so the analysis is worthless. Some people argue that defining the industry is the critical input of knowing where you stand. (SPS, Nov. 2009) However, some criticism has been made that the five forces are an analytical tool and rather static. Rumelt, (1991) suggested that companies have company-specific preferences of strategic development regarding profitability, which has lager influences than the competitive forces of environment. Furthermore, the five forces largely ignores the human resources aspects of strategy (Farnham, 1999), which will be of increasing importance in the future. But still we can stick to the proving of PESTEL analysis combined with Porters five forces, because as Thomas Lawton, professor of strategic management at Cranfield says: In a sense transposing the PESTLE ideas onto the Five Forces is the best way. (SPS, Nov. 2009) The very next theoretical model conducted in our project will be SWOT/TOWS analysis. The SWOT analysis is a rottenly used strategic tool in bigger or smaller organizations. It examines the internal and external environment of a company and gives a clearer picture for an organization of its strengths, weaknesses, opportunities and threats. SWOT analysis is developed by Albert Humphrey, who named the strategic tool alternately SWOT Matrix. The matrix is also described by (Jobber and Fahey 2006) as the structured approach to evaluating the strategic position of a business or organisation by identifying its strengths weaknesses opportunities and threats. (Lynch 2006) furthers the view of (Jobber and Fahey 2006) by suggesting that the SWOT analysis is how a business or organisation can further their development from the PEST and Porters Analysis and make an amalgamation of the analysis of the internal and external environment by doing the SWOT analysis. On the other hand, the SWOT has end ured a lot of criticism of variety of authors and researchers, working in the field. In relation to the external factors of the SWOT analysis (Johnson Et al 2009) suggest that the analysis of opportunities and threats is extremely valuable when the organisation or business is looking to formulate a proposed strategic plan for the future. Other criticism is provided by (Mintzberg 1994) who suggests that SWOT is the main cause of what is considered there an excessive formalization of the strategy making process. Many authors (Baramuralikrishna and Dugger 1998; David 1997; Hill and Westbrook 1997; Johnson et al 1989; Thompson and Strickland 1998; Wheelan and Hunger 1998) suggests that this usage rarely amounts to much more than a poorly structured, very general, hastily conducted exercise that produces unverified, vague and inconsistent inventories of factors regarded by the proposing individuals as most important components of their organizations strategic situation. Most of the SWOT critics are arguing that the matrix is too superficial and basic. It does not provide detailed analysis of a company and many times it is used in a wrong way. Due to much criticism and conflicts between authors about the SWOT analysis, we decided to conduct the TOWS matrix represented and developed by Heinz Weihrich, Professor of Management, University of San Francisco. He writes a detailed article about TOWS analysis, also called The TOWS Matrix A Tool for Situational Analysis. (Heinz Weihrich, GODINA) has two main purposes One is to review general considerations in strategic planning and the second to introduce the TOWS Matrix for matching the environmental threats and opportunities with the companys weaknesses and especially its strengths. These factors per se are not new; what is new is systematically identifying relationships between these factors and basing strategies on them. There is little doubt that strategic planning will gain greater prominence in the future. In his article Heinz Weihrich is describing in details the ways of usage the matrix and the main benefits of using the matrix. In contrast of the SWOT analysis, the TOWS one is much more reliable and appropriate to conduct in our project, because it is focused in analyzing the company in much more details and gives much flawless picture of how to turn the weaknesses into strengths and the threats into opportunities. The TOWS matrix is combining the whole four outlines of the matrix and creates the opportunity of better observation into the internal and external factors influencing the company. Even sometimes the threats could ruin the forecasting, the TOWS help the company to forecast easily and once understood the strengths and the weaknesses, the company could find better future opportunities to develop. The relation between providing TOWS and the other strategic tools PESTEL analysis and Porter dive forces is that all the models and theories are bind together in building the most appropriate path for the company to find the most accurate strategy for the better performance of the company. The very next strategic tool of the project is the model of Igor Ansoff, who created the product-mission matrix, in other word the so-called Ansoff matrix. The matrix allows companies to realize the risk component of various growth strategies, including product versus market development, and diversification. The Ansoff matrix presents the product and market choices available to an organization. Herein markets may be defined as customers, and products as items sold to customers (Lynch, 2003). When developing the Ansoff matrix, the inventor Igor Ansoff aimed to measure the growth of risk that the company might take when choosing different directions of strategy. According to the matrix, we can say that the more different the territory is, the higher risk is taken. Managers of organizations should be aware of how to manage the risk appropriately and to take into considerations the right decisions. The Ansoff matrix helps the company to increase its profit by entering in new business oce ans. The strategies taken by a company may have huge consequences and that is why the risk should be observed carefully. However, due to these reasons in our project we will conduct an analysis over Ansoff matrix and will see how the strategies will work for it and for its future performance. As also known, the Ansoff matrix was developed 1957, but a few years later the Igor Ansoff realized that his work was not unique, because a similar matrix was developed earlier.Moreover few years after Ansoff matrix was much criticized by Henry Mintzberg, who didnt like the idea of strategy being built from planning, which is supported by analytical techniques.