Saturday, October 5, 2019
Environment ethic Research Paper Example | Topics and Well Written Essays - 1500 words
Environment ethic - Research Paper Example ââ¬Å"Ethics has something meaningful to do with the environment. It questions humanity's relationship to the environment, its understanding of and responsibility to nature, and its obligations to leave some of nature's resources to prosperityâ⬠(Pojman, 1997). These ethical questions are dealt as environmental ethics, a sub-discipline of philosophical science.â⬠Environmental ethics is concerned with the moral relations that hold between humans and the natural worldâ⬠(Taylor, 2011) and the ethical principles lays down the principles which direct human activities, responsibilities and other obligations to the natural around. Should we destroy invasive species? Should we destroy forest lands to build roads and medical centers? Should we exterminate wild plants to grow food for humans? These questions give us a good understanding as to what ethics are. To answer each of them appropriately it is essential to have knowledge about ethical theories. Traditionally, most eth ical perspectives were anthropocentric in nature i.e. the value of human beings were of great importance while the role of other living things as well as nonliving ones were purely instrumental in nature, this makes up the Value theory. However, with the emergence and popularity of environmental ethics, the traditionally anthropocentric perspective has been met with criticism. Questions have been raised about the purpose of the assumed supremacy of the human race over all other living beings. The sole purpose of environmental ethics, ââ¬Å"is to provide moral grounds for social policies aimed at protecting the earthââ¬â¢s environment and remedying environmental degradationâ⬠(Brennan & Lo, 2008). In spite of being a philosophy sub-discipline, environmental ethics is multi-disciplinary in nature and requires specific knowledge in biology, physics, law, psychology and philosophy. In the 21st century, environmental ethics has new perspective that is not human-centric at all an d is known as Ecologism. Axiology of Environmental Ethics The Axiology approach is also known as the Value theory. Philosophers and environmentalists have long argued on the values to be assigned to the components of the biosphere. The axiological perspective comprises of three kinds ââ¬â Anthropocentrism, Sentientism and Ecologism. The issue faced in the 21st century is the confusion whether or not to assign equal intrinsic values to humans, nonhuman living things and non-living things. The Anthropocentrism perspective puts humansââ¬â¢ above all living things as well as non-living things. If there is a pollution problem today, then according to this approach, the problem of pollution will only be identified as an ethical issue if it affects humans in any way. Sentientism approach is based on the measurement of pleasure and pain, but the perspective lacks in the sense that it is obviously not possible to judge the extent of either of the feelings in non-human living things. A ccording to Ecologism, all living creatures as well as non-living entities such as mountains, rivers, seas etc should be assigned intrinsic value. Thus, the entire biosphere has high intrinsic value. Thus, any action for example destruction of forests is considered an ethical issue because even if the forests are destroyed for human advancement, it affects the habitats of wildlife. The intrinsic values of both humans and wildlife being at par, makes forest
Friday, October 4, 2019
Game scrabble Essay Example | Topics and Well Written Essays - 1000 words
Game scrabble - Essay Example Unfortunately for him, he did not know that he will also become deeply engrossed into the game just as other hard-core players. This paper begins by giving a general overview of the book before focusing on individual characters and analyzing their distinctive features relative to the game. Their lives outside the game are also explored and their roles within the text. Stefan Fatsis, author and character in Word Freak, used to play a reasonably mean game of Scrabble-according to what he thought, until that moment when he chose to investigate the game both intensively and extensively for an article he was due to publish. In a twist and turn of events, Fatsis sooner than later found himself obsessed with the game just as other hard-core players he sought to interview. The book revolves around the characters of G.I. (that is from gastrointestinal) Joel Sherman, Marlon Hill, a fervent youthful black nationalist, and Matt Graham, the pill-popping funnyman. These characters spent a great chunk of their time in dictionaries and other sources just to familiarize with new words to use while playing scrabble tournaments. Something what noting is that they all earned their livelihood through the income and prizes from these events. While some of them loved words for their own selves, others did this just as a means to an end. It because of these that Fatsis takes an issue and warns anyone contemplating engaging in competitive Scrabble to come to terms with the fact that it may require them to learn words that may lack outside utility. Eventually, the game demands for mastering the rules of the game, which for this case are the words. Joel Sherman, also called G.I. (from gastrointestinal), is described as a Walking Manual of physical sicknesses. Among the many maladies associated with him include asthma, postnatal drip, and allergic to lactose. Another funny bit about him is that he uncontrollably belches during tournaments
Thursday, October 3, 2019
Alignment of HRM and Business strategies Essay Example for Free
Alignment of HRM and Business strategies Essay The essence of HR is very strategic and when properly aligned, HR contributes to a successful strategy and the financial underline. The alignment between HR and the strategy of an organization starts with a strategy-focused professional. Secondly, the HR system has to be created in alignment with the organizationââ¬â¢s strategy. HR needs to ensure that employees are strategically focused (Becker Huselid, 2001). Every element of the HR function, from hiring, compensation, reviews, training, etc. , needs to be developed in order to enlarge the human capital in the organization. Once the gap is recognized, HR needs to measure itself to guide itself, and show what itââ¬â¢s worth as an ongoing strategic segment. Ongoing monitoring and evaluation of HR strategic role expansion will prove itself to be worthy or not as a benefit to the bottom line. HR is viewed as the people department and/or resource. The organizationââ¬â¢s people ultimately determine the effectiveness of strategy development, implementation, and subsequent competitive success. A strategic approach that is aligned with HR ensures that an organizationââ¬â¢s employees, skills, and abilities contribute to the achievement of its business goals (Huselid, Jackson, Schuler, 1997). HR Data warehouse Selected Candidate will be responsible for design, implementation and systems expertise of the data warehouse components focusing primarily on business objects Xi. The scope of technical expertise includes design and development of BO reports, security set-up of medium to high complexity levels as well as the ability to coordinate projects with business personnel and other members of the project teams within the organization to ensure that system requirements, deadlines and priorities are clearly defined and achieved. HR Associate is the best HR related job opening I would prefer to apply in FORD Motor Group. I believe it is an incredible opportunity ââ¬â a company in transformation can provide invaluable experience for human resources professionals. I also get to partner with the organization to build a skilled and motivated team and enabling them to perform at high levels. With exciting products, a long history and a bright future this job position will surely allow me to expand my professional horizons. An organization needs to acknowledge that HR is important to its business success. In order for HR to achieve this recognition, it must have the right people in place to carry out a strategic initiative. HR needs to define the competencies and skills that it will need to be a strategic contributor. Outstanding HR personal will need to build their business knowledge, financial skills, as well as consulting skills. Furthermore, HR personal will need to become technologically oriented, so they can be free from routine administrative work, as well as leverage information about the workforce. Enabled by technology, HR will be able to play a more strategic managerial role (Frangos, 2002). Advertise job positions in locations and forums with a widely diverse audience and readership. Opt for local and regional papers, magazines, trade publications and television. Recognize the cultures that may already be present in the workforce. Not confusing diversity with minority. Make sure to include everyone in my attempts to celebrate diversity. Network with various diverse organizations will provide with the opportunity to showcase the company and its diverse workers. Using such forums to emphasize the companys dedication to diversity will likely increase interest from diverse individuals.
Wednesday, October 2, 2019
Reflective Essay On Pressure Sore Nursing Essay
Reflective Essay On Pressure Sore Nursing Essay My aim of this essay is to reflect on my learning outcome pressure sore care and management. Pressure sores also known as decubitus ulcers. Benbow (2006) defines it as areas of localized tissue damage as a result of excess pressure, shearing or friction forces. To reflect on my learning process, I am going to apply Gibbs reflective model, which is a renowned model in reflective practice. This model requires passing through six stages to complete one reflective cycle. These six stages are description, feelings, analysis, evaluation, conclusion and action plan and I am going to explore in these six steps how I achieved my learning outcome. In the first stage of Gibbs reflective model (1988) I will describe the event which inspired me to get competent in pressure sore management. My placement area was a nursing home setting where almost all service users are old age people who are prone to get pressure sores so I had seen many pressure ulcers. However, one particular service user whose pressure wound I will never forget. I will address her as Mrs. N to maintain her confidentiality (NMC 2008). She is an 86 yr old, suffering from dementia and doubly incontinence. She had a big, black and hard wound on her right hip. The skin was intact but it was extremely discolored. According to EPUAP (European Pressure Ulcer Advisory Panel) guidelines, it was grade 4 pressure wound as there were full thickness skin loss and it was covered by necrotic tissues. It was getting foul smell and the wound started to debride from the sides in a few days. The second stage of Gibbs reflective cycle requires me to reflect on my feeling for the event. It was my first day in that unit and I went with a nurse in Mrs. Ns room where she was going to do her pressure wound dressing. I had no idea about her wounds grade. I started to assist the nurse and as she opened the dressing I was shocked. I did read the description and seen pictures for grade 4 pressure wound (EPUAP guide to pressure ulcer grading) but never seen it in my past practice so it was absolutely shocking for me. I felt very disgusted. I tried to put myself in her place and when the nurse was touching her wound I was feeling like its happening to me but the most tragic thing for Mrs. N was that she was not able to express her pain as a result of her dementia. The study conducted by Bale s., C. Dealey et al (2007) had found shocking revelations about the effect of pressure ulcers, amount of pain and its effect on a patients life. I was thinking what could be the reason behind it . Is it our negligence or something else for what patient was suffering? Third stage of Gibbs reflective model needs reflector evaluates the event. According to NICE guidelines, a patient who is at risk of developing a pressure ulcer should be assessed within 6 hours of admission (NICE 2003). While in Mrs. Ns case she has been in the nursing home for a long time so her assessment should have been ongoing as she was prone to develop it. The other thing I evaluate was that nurse remains very busy during her shifts so she relies on support staff regarding the patients condition so there are chances that nurses missed to assess Mrs. N for pressure sore on regular interval. According to Mockridge and Antony (1999), the nurse must have basic knowledge of pressure ulcer prevention, healing and treatment to avoid the occurrence and discomfort. There are many risk assessment tools to assess patient for pressure ulcer development which I have been familiar during my learning process. These scales known as Norton scale, Waterlow scale and Branden scale (Norton et al . 1985, Branden and Bergstrom 1987, Waterlow 1991 and 1998). It could have been possible to prevent Mrs. N from getting that worse ulcer by carrying out assessment based on one of these scales. Analysis is the fourth stage of Gibbs reflective model (1988). My knowledge about the pressure sore care and management was very limited. According to the code (NMC 2008) you must take part in appropriate learning and practice activities that maintain and develop your competence and performance. I decide to get competent in pressure sore care and management as I am going to be a qualified nurse I should have the knowledge and skill to practice safe (NMC2008). I analyzed from this event that first step to become competent in this skill is to learn a proper risk assessment skill using one of the risk assessment tools because prevention is always better than cure. To justify this, during my learning process I carried out some assessment on service users who were vulnerable. I used Waterlow scale (Waterlow, 1998). This assessment helped me to classify ulcer. The classification of wound helps to determine the most effective treatment (Daugherty and Lister, 2008). The next aim should be to minimize the pressure on pressure area. To apply this in my placement area I followed NICE guidelines which suggested that there must be a position changing schedule (NICE 2003). Thus, I participate with my team and we prepared position turning charts for the service users who were at risk of developing a pressure ulcer. The other factors involve in preventive managements are pressure relief devices i.e., cushions and mattresses, pressure area skin care specially in incontinence patients and ongoing assessments. The next step after the assessment is planning. It is very crucial aid which leads the patient towards fitness. I prepared and the update care plan by following NICE (2003) guidelines and my placement area policy and procedures. I discussed it with my mentor, my colleagues and other support staff to get suggestion and to improve quality of care (NMC 2008). Apart from all above factors, the important management step in grade 3-4 ulcers are dressing. I also analyzed that I need to perform ulcer dressing on Mrs. Ns ulcer to get confidence and to know my abilities. Before starting dressing I discussed with the nurse about dressing materials used for Mrs. N and prepared trolley using aseptic technique. My mentor observed me carry out dressing and I followed the steps as done by tissue viability nu rse. I also practice for dressing on grade-2 and grade- 3 pressure sores under supervision which gave me self-assurance. The nursing care is not complete without an evaluation. It helps nurses to critically evaluate the patients condition whether it is stable, has deteriorated or improved. During evaluation process I found that our care plans were making significant effects on patient care and helped us to promote their health. In the fifth stage of Gibbs reflective cycle I am going to draw a conclusion following my learning process. I have become competent in the care and management of pressure ulcer. It had provided me skill to practice confidently. If nurses caring of Mrs. N had used their skills and knowledge, then they could have prevented pressure ulcer. There must be busy working environment where for the nurse it is not possible to give detailed attention on every service user but according to the code (NMC 2008), the nurse should work with others to protect and promote the health and well-being of those in her care. I certainly learn the importance of close observation in health care practice. The final stage of the reflective cycle (Gibbs, 1988) is an action plan which facilitates the reflector to plan for the future. It needs you to prepare a plan of actions to take if the situation arises again and also plan for improvement in future practice. I planned that I will perform pressure ulcer dressing whenever there will be a patient requiring pressure sore dressing to get expertise, to increase my confidence and knowledge . I will read more research articles in this area to dig up more and to deliver the best care based on the best available evidence (NMC 2008). I am also planning to discuss this topic with fellow peers.
Postpartum Depression Essay -- Health Medicine Reseach Papers
Postpartum Depression In 2001, Andrea Yates, a Texas mother, was accused of drowning her five children, (aged seven, five, three, two, and six months) in her bathtub. The idea of a mother drowning all of her children puzzled the nation. Her attorney argued that it was Andrea Yates' untreated postpartum depression, which evolved into postpartum psychosis that caused her horrific actions (1) . He also argued that Andrea Yates suffered from postpartum depression after the birth of her fourth child, and that she attempted suicide twice for this very disorder ((1)). What is postpartum depression, and how can it cause a mother to harm her very own children, altering her behavior towards her children in a negative way? One in ten women experience postpartum depression ((2)), a condition that often goes undiagnosed, and occurs in women after childbirth. A reason for the lack of diagnosis of postpartum depression is a milder, more common form of depression after childbirth, often known as the "baby blues". Th e baby blues occur in mothers three to five days after childbirth ((2)) , and may last for as little as a couple hours to a couple weeks ((4)). These symptoms include * mild sadness * tearfulness * anxiety * irritability, often for no clear reason * fluctuating moods * increased sensitivity * fatigue ((2)) The treatment for the baby blues are frequent naps, a proper diet, and plenty of support from partners, family, and friends ((3)). Generally, the baby blues subside without any sort of serious treatment. However, the baby blues may evolve into postpartum depression. One study discovered a link between postpartum depression and the baby blues: out of the women that were diagnosed with postpartum depres... ...lso drop during childbirth, and thus may be a factor in postpartum depression ((4)). Consequently, ways to prevent another Andrea Yates from going too far is to treat postpartum depression seriously. Because the baby blues are so common, postpartum depression and psychosis are often misdiagnosed as the baby blues, or even more frequently, not diagnosed at all. Thus, postpartum depression must be taken seriously. References 1)Study Works! Online: What is Postpartum Depression? http://www.studyworksonline.com/cda/content/article/0,,NAV4-42_SAR1208,00.shtml 2)Postpartum Depression and Caring for Your Baby http://kidshealth.org/parent/pregnancy_newborn/home/ppd_baby.html 3) Postpartum Coping: the Blues and Depression http://www.mayoclinic.com/invoke.cfm?id=HQ01243 4)Frequently Asked Questions about Postpartum Depression http://www.4woman.gov/
Tuesday, October 1, 2019
Nike Case Study Essay
Kimi Ford, a portfolio manager at North Point Group, is looking into the profitability of investing in the stocks of Nike for her fund that she manages. She is supposed to base her decision the companyââ¬â¢s data which was disclosed in the 2001 fiscal reports. While Nike management had addressed several issues that are causing the decrease in market sales and stock price, management presented plans to improve and perform better. Nike revenue has been at a plateau since 1997 yet net income and market share were falling. Supply chain issues and the strong dollar negatively affected revenue too. Plans are in place to address top line growth and operating performance. To boost revenue, the company would develop more athletic shoes in the mid priced segment which has been overlooked by Nike in recent years. They also planned to push their apparel line which under strong leadership had performed very well to control expenses. Revenue growth targets are around 8-10% and earnings targets are above 15%. Analyst reactions were mixed as some of them thought this was too aggressive. Lehman Brothers recommended a strong buy while others expressed misgivings and recommended a hold. At this point, North Point Group decided to do their own analysis in order to decide if Nike shares should be purchased for the fund. The weighted average cost of capital (WACC) is the rate that a company is expected to pay its debt and equity holders to finance its assets. It is the minimum return that a company must earn on existing asset base to satisfy its owners, creditors, and other providers of capital or they will invest somewhere else. Companies raise money from many sources such as common and preferred equity, straight, convertible, and exchangeable debt, options, warrants, pension liabilities, executive stock options, governmental subsidies, and others. Different securities, which represent different sources of finance, are expected to generate different returns. WACC is calculated taking into account the relative weights of each component of the capital structure- equity and debt, and is used to see if the investment is worthwhile to take part in. Management notices the cost of capital while making a financial decision. The concept is very relevant in the following managerial decisions and hence its importance: (1) Capital Budgeting Decision. Cost of capital may be used as the tool for adopting an investment proposal. Naturally, the firm will choose the project which gives a satisfactory return on investment which would never be less than the cost of capital incurred for its financing. In the many methods of capital budgeting, the cost of capital is the main factor in deciding the project out of different proposals pending before the management. It determines the acceptability of all investment opportunities by measuring financial performance. (2) Designing the Corporate Financial Structure. The cost of capital is a significant factor in designing the firmââ¬â¢s capital structure. The cost of capital is influenced by changes in capital structure. Financial executives keep an eye on capital market fluctuations and try to achieve the economical and sound capital structure for the firm. They may try to substitute the various methods of finance in an attempt to minimize the cost of capital a nd to increase the market price and the earning per share. (3) Deciding about the Method of Financing. Financial executives must have knowledge of fluctuations in the capital market and should analyze the rate of interest on loans and normal dividend rates in the market from time to time. Whenever company requires additional finance there are better choices of the source of finance which bears the minimum cost of capital. Although cost of capital is an important factor in such decisions, but equally important are the considerations of relating control and of avoiding risk. (4) Performance of Top Management. The cost of capital can be used to evaluate top executive financial performance. Evaluation of the financial performance will involve a comparison of actual profitabilityââ¬â¢s of the projects and along with the projected overall cost of capital and an appraisal of the actual cost incurred in raising the required funds. (5) Other Areas. The concept of cost of capital is also important in others areas of decision making, such as dividen d decisions, working capital policy, and more. WACC CALCULATION: [pic] One important question is if Joanna Cohen should use a single or multiple of capital for each of Nikeââ¬â¢s footwear and apparel divisions? We agree with the use of single cost rather than multiple costs of capital. The reason of estimating WACC is to value the cash flows of the entire company that is provided by Kimi Ford. Plus, Nike business segments have a similar risk and thus a single cost is sufficient for this analysis. Joanna Cohenââ¬â¢s cost of debt was incorrect. An important fact is the WACC is used for discounting future cash flows, thus all components of the cost must reflect the firmââ¬â¢s concurrent or future abilities in raising capital. Cohen wrongly used the historical data in estimating the cost of debt. She divided interest expense by the average balance of debt to get 4.3% of before tax cost of debt. It doesnââ¬â¢t reflect Nikeââ¬â¢s current or future cost of debt. The correct way to calculate the cost of debt is explained below. If the cost of debt is intended to be forward looking, it can be estimated by the yield to maturity of bond. The more appropriate cost of debt can be calculated with the data provided in Exhibit 4 of the case. Market data is correctly used rather than historical data. PV: 95.60 N= 40 Pmt: -3.375 FV: -100 The values above were put into Excelââ¬â¢s rate function. This came to a 7.16% annual cost of debt. The tax rate is 38%. The correct way to get the after tax cost of debt is to take 7.16% * (1-38%) = 4.44% The correctly calculated before tax cost of debt is 7.16%. This is significantly higher than Joannaââ¬â¢s incorrectly calculated cost of debt of 4.3%. Her incorrect calculation came from using historical rates rather than market rates. Next, the cost of equity is calculated. It is a good idea to use the 20 year T-Bond rate to represent the risk free rate. The cost of equity and the WACC are used to discount cash flows in the long run, thus rate of return of a T-Bond with 20 years maturity at 5.74% is the longest rate that is available. The geometric mean of market risk premium is 5.9%. This is more accurate than using arithmetic mean to represent market risk premium. By using arithmetic mean to represent true market risk premium, we have to have independently distributed market risk premium. It is often found that market risk premiums are negatively serial correlated. Market average Beta of .69 is used because it is a good indicator of the average Betaââ¬â¢s and their fluctuations throughout the years. Capital Asset Pricing Model (CAPM) |Cost of Equity(KE) | |KE = |Rf + à ²(Rf ââ¬â Rm) | |Rf = |5.74% | = |9.81% | |Beta |= 0.69 |Average Nike Beta | | Next, the weights of debt and equity need to be calculated. The market value of equity is $42.09 share price X 271.5 million shares = 11,427,000 Due to the lack of information of the market value of debt, book value of debt at 1296.6 million is used to calculate weights. Calculations for market and debt weights: 11,427,000 / (11,427,000 + 1297) = 89.8% Equity Weight 1 ââ¬â 89.8% = 10.2% debt weight WACC Calculation 4.44% After Tax Cost of Debt X 10.2% Debt Weight + 9.81% Cost of Equity X 89.8% Equity Weight = 9.27% The CAPM method was used when calculating cost of equity for the WACC. Advantages and disadvantages of this method are explained below. Advantages: â⬠¢ It only considers systematic risk, reflecting a reality in which most investors have diversified portfolios from which unsystematic risk has been essentially eliminated. â⬠¢ It generates a theoretically-derived relationship between required return and systematic risk which has been subject to constant empirical research and testing. â⬠¢ It is generally seen as a superior method of calculating the cost of equity than the dividend growth model (DGM) in that it explicitly takes into account a companyââ¬â¢s level of systematic risk relative to the stock market as a whole. â⬠¢ It is clearly better than WACC in providing discount rates for use in investment appraisal. Disadvantages: â⬠¢ It is practically impossible to estimate betas for many projects. â⬠¢ People sometimes focus on market risk rather than corporate risk, and this may be a mistake. The Dividend Discount Method is another method of calculating cost of equity. The assumption made with this model is that the company pays a substantial dividend, but Nike Inc. does not pay dividends. Therefore, we rejected this model since it does not reflect the true cost of capital. The method Compares dividends forecasted for the next period with the current share price for the firm and then adds the growth rate of the firm. Equation: Ke= D1/ P0 + g â⬠¢ Variables: ââ¬â G= the value line forecast of dividend growth, which equals 5.5% ââ¬â PO= current share price, which is $42.09. ââ¬â D1= DO (1+g), which equal .48 (1+.055) â⬠¢ DO= from dividend history and forecast chart, which equals .48 Therefore, cost of equity = .564/42.09 + .055= 6.7% Advantages: â⬠¢ Allow great flexibility when estimating future dividend streams â⬠¢ Provide useful value approximations even when the inputs are simplified â⬠¢ Can be reversed so the current stock price is used to impute market assumptions for growth and expected return â⬠¢ Investors are able to suit their model to their expectations rather than force assumptions into the model â⬠¢ Specifying the underlying assumptions allows for sensitivity testing and analyzing market reactions to ever changing circumstances Disadvantages â⬠¢ Subjective inputs can result in wrongly specified models and bad results â⬠¢ Over-reliance on a valuation that is really just an estimate â⬠¢ Sensitivity is high to small changes in input assumptions â⬠¢ Flow-through of minor formula or data entry errors when using spreadsheets The Cost of Equity Method is the other method for forecasting cost of equity. The final model used to compute the cost of capital was the earning capitalization model. The problem with this model is that it does not take into consideration the companyââ¬â¢s growth. Therefore we chose to reject this calculation. The earnings capitalization model calculations were found this way: â⬠¢ Stands for earnings capitalization model â⬠¢ This model compares forecasted earnings for the next period over the current share price. â⬠¢ Equation: ââ¬â Ke: E1/ P0 â⬠¢ Variables: ââ¬â E1= (1+g) * (E0/ # of shares outstanding) â⬠¢ G= retention ratio * return on equity â⬠¢ Retention ratio= retained earnings/ net income â⬠¢ 3194.3/ 589.7= 5.42 â⬠¢ Return on equity= net income/ total shareholdersââ¬â¢ equity â⬠¢ 589.7/ 3494.5= 16.88% â⬠¢ G= 5.42* 16.88%= .914 â⬠¢ EO= Net Income, which equals 589.7 â⬠¢ Share Outstanding= 271.5 ââ¬â E1= ((1+.914) * 589.7)/ 271.5= 4.1572 ââ¬â PO= Nike current share price, which is 42.09 â⬠¢ Therefore, cost of equity= ââ¬â 4.1572/ 42.09 = 9.88% Advantage Strong representation of earnings Disadvantages Brealey & Myers argue in Principles of Corporate Finance that this model is not good to use for growing firms but is appropriate for no-growth firms. Hence it is not appropriate for Nike Inc. since this company is still growing. Analysis and Recommendation Kimi ford used a WACC discount rate of 8.4% to find a share price of $63.50. Nike is currently trading at $42.09. This makes the share price undervalued by $21.41. However, her discount rate does not reflect true market value due to the mistakes in her methods we discussed earlier. The discount rate we came up with from using the CAPM was 9.27%. This higher WACC results in a lower share price of around $55.60. Share price has decreased once Joannaââ¬â¢s calculation methods have been corrected, but Nike is still overvalued so we still recommend buying the stock. Share price is now undervalued by $12.97. SWOT Analysis Strengths: â⬠¢ Globally recognized #1 sports brand â⬠¢ Strong marketing, research and development, and innovation â⬠¢ Worldwide logo recognition, brand loyalty, and slogan ââ¬Å"Just do it.â⬠Weaknesses: â⬠¢ Most profits are solely from footwear â⬠¢ Revenue has plateaued, expenses have increased â⬠¢ Supply chain issues affecting financial health too â⬠¢ Price sensitive retail industry Opportunities: â⬠¢ There are plans in place to address top line growth and operating performance â⬠¢ Plans to create more athletic footwear â⬠¢ Also plans to push apparel line â⬠¢ High revenue growth (8-10%) and earning (15%) targets Threats: â⬠¢ Uncertainties in international trade â⬠¢ The market is cut throat â⬠¢ Growing competition from other companies can lead to decreased market share DuPont Analysis â⬠¢ Net Income: 589,700,000 â⬠¢ Sales:9,488,800 â⬠¢ Total Assets:5,819,600 â⬠¢ Common Equity ââ¬â Common Stock, Par: 2,800,000 ââ¬â Capital in excess of stated value: 459,400,000 ââ¬â Retained Earnings: 3,194,300,000 ââ¬â Total: 3,656,500,000 â⬠¢ NI/Sales: 589,700,000/9,488,800,000 = 6.2% â⬠¢ Sales/TA: 9,488,800,000/5,819,600,000 = 1.63 â⬠¢ TA/CE: 9,488,800,000/3,656,500,000 = 2.60 â⬠¢ Profit Margin * TA Turnover * Equity Multiplier â⬠¢ 6.2% * 1.63 * 2.60 = 26.27% ROE. This Return on Equity is high, further stating the fact that Nike stock is good to buy. Nike has strong financial health and its stock is a sound investment. It would make a valuable addition to any mutual fund. The End Thank You
Succubus Blues EPILOGUE
ââ¬Å"Casey's out sick,â⬠Paige told me briskly, putting on her coat. ââ¬Å"So you'll probably have to cover for her on the registers.â⬠ââ¬Å"It's no problem.â⬠I leaned against her office wall. ââ¬Å"Keeps things interesting, you know?â⬠Pausing, she gave me a brief smile. ââ¬Å"I really appreciate you coming in like this ââ¬â on such short notice.â⬠She patted her stomach absentmindedly. ââ¬Å"I'm sure it's nothing, but I've had this pain all day ââ¬â ââ¬Å" ââ¬Å"No, it's fine. Go. You have to take care of yourself. You have to take care of both of you.â⬠She smiled at me again, picking up her purse and walking to the door. ââ¬Å"Doug's skulking around here somewhere if you need help, so make him do it. Hmmâ⬠¦ there was one other thing I needed to tell youâ⬠¦ Oh yeah ââ¬â there's something for you in your office. I left it on your chair.â⬠Butterflies shot through my stomach at her words. ââ¬Å"W-what is it?â⬠ââ¬Å"You'll have to see. I've got to go.â⬠I followed Paige out of her office and turned uncertainly into my own. The last thing left on my chair had been an envelope from Roman, one more piece in his twisted game of love and hate. Oh God, I thought. I knew it wouldn't be as easy as Carter had said. Roman's back, starting it all up again, waiting for me to ââ¬â I stared, swallowing a gasp. The Glasgow Pact sat on my chair. Gingerly, I picked up the book, handling it like fine china. It was my copy, the one I had given Seth to sign over a month ago. I'd forgotten all about it. Opening up the inside cover, I saw lavender rose petals fall out. There were only a handful of them, but they were more precious to me than any of the bouquets I'd received this month. Trying to catch them, I read: To Thetis, Long overdue, I know, but very often the things we most desire come only after much patience and struggle. That is a human truth, I think. Even Peleus knew that. ââ¬â Seth ââ¬Å"He's back, you know.â⬠ââ¬Å"Huh?â⬠I looked up from the baffling inscription to see Doug leaning against the doorframe. He nodded toward my book. ââ¬Å"Mortensen. He's up in the cafe again, typing away as usual.â⬠I closed the book, holding it tightly with both hands. ââ¬Å"Dougâ⬠¦ are you up on your Greek mythology?â⬠He snorted. ââ¬Å"Don't insult me, Kincaid.â⬠â⬠Thetisand Peleusâ⬠¦ they were Achilles' parents, right?â⬠ââ¬Å"Indeed they were,â⬠he told me, smug with the confidence of his area of expertise. For my part, I was simply puzzled. I didn't really get the inscription or understand why Seth would reference the Trojan War's greatest warrior. ââ¬Å"Do you know the rest?â⬠Doug asked me expectantly. ââ¬Å"What? That Achilles was a dysfunctional psychopath? Yeah, I know that.â⬠ââ¬Å"Well, yeah, everyone knows that. I mean the really cool part. About Thetis and Peleus.â⬠I shook my head, and he continued, professor-like, â⬠Thetiswas a sea nymph, and Peleus was a mortal who loved her. Only, when he went to woo her, she was a real bitch about it.â⬠ââ¬Å"How so?â⬠ââ¬Å"She was a shape-shifter.â⬠I nearly dropped the book. ââ¬Å"What?â⬠Doug nodded. ââ¬Å"He approached her, and she turned into all sorts of shit to scare him off ââ¬â wild animals, forces of nature, monsters, whatever.â⬠ââ¬Å"Whatâ⬠¦what'd he do?â⬠ââ¬Å"He held on. Grabbed her and wouldn't let go through all of those terrible transformations. No matter what she turned into, he just held on.â⬠ââ¬Å"Then what?â⬠I could barely hear my own voice. ââ¬Å"She finally turned back into a woman and stayed a woman. Then they got married.â⬠I had stopped breathing somewhere around the word ââ¬Å"shape-shifter.â⬠Still clutching the book, I stared off into space, a great winged feeling swelling in my chest. ââ¬Å"You all right, Kincaid? Christ, you've been weird lately.â⬠I blinked, tuning back in to reality. The feeling in my chest burst out, launching into glorious flight. I started breathing again. ââ¬Å"Yeah. Sorry. I've just had a lot on my mind.â⬠Forcing levity, I added, ââ¬Å"I'll do my best not to be too weird from now on.â⬠Doug looked relieved. ââ¬Å"Coming from you, that might be a long shot, but here's to hoping.â⬠ââ¬Å"Yes,â⬠I agreed, smiling. ââ¬Å"Here's to hoping.ââ¬
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