The Impact Of Innovation

The Impact Of Innovation In this assignment, the importance of innovation and the impact that it has in successful companies will be discussed. Theories and examples of innovation will be shown as well as relevant information about apples history and detailed product information. Also it will be debated the importance that Innovation have had in Apple company. A SWOT analysis of Apple will be presented as additional information. Topics as Leadership and Change management are included due to its high relationship with the performance of a company and its direction in a long term, in this case is Apple the chosen company. Literature review 1. INTRODUCTION Throughout history the concept of innovation has been debated. Since the time of classical economists this issue has been present, even in the current age. Also important authors have highlighted innovation as essential for the socio-economic that is why it is relevant to study this phenomenon. Innovation is one of the key factors for companies that want to compete in an increasingly international and global market. But to qualify for that capacity, companies must invest in knowledge, structure, research and a good strategy to enable them to decide, from the beginning, who they want to become. There are many definitions about the term innovation and numerous theoretical contributions around this phenomenon. The term innovate comes from the Latin etymology innovare that mean change or alter things by introducing new features (Medina Salgado Espindola and Espinosa 1994). Innovation is the production, assimilation and successful exploitation of novelty in the economic and social environment 1.2 DEFINITIONS OF INNOVATION Innovation is the process of integrating existing technology and inventions to create or improve a product, a process or a system. Innovation in an economic sense is the consolidation of a new product, process or system improvement (Freeman, C., 1982) Innovation is the specific tool of entrepreneurs (Peter Drucker 1985) The act that endows resources with a new capacity to create wealth (Peter Drucker 1985). Innovation distinguishes between a leader and a follower (Steve Jobs 2005) Joseph Schumpeter defined innovation in a general sense, took into account different cases of change to be considered as a innovation. These are: the market introduction of a new good or new class of goods, the use of a new source of raw materials (both product innovation), the incorporation of a new production method not experienced in a particular sector or a new way of dealing commercially a new product (process innovation), or market innovation which is the establishment of a new market structure (Joseph Schumpeter 1935) 2. TYPES OF INNOVATION There are three main types of innovation Product Innovation It is the market introduction of a new technology product (whose technological characteristics differ significantly from previous products) or significantly improved (previously existing whose performance has been improved or greatly improved) Process Innovation Is the adoption of new production methods or significantly improved. Can be use to produce or deliver technologically new or improved products, which cannot be produced or delivered using conventional methods of production, also it could increase primarily the efficiency of production. Organizational Innovation It is the introduction of changes in the forms of management of the establishment. There are new changes in the organization and management process, incorporating new organizational structures 2.1 INNOVATION MODELS There are several innovation models, which 4 of them are common and relevant Linear model The linear model of innovation is an interpretation of the act of innovation, outdated but is still applied in many cases. This model is a way of theorizing the logical sequence of the process that results in innovation. Sequence is too rigid to describe a process that depends not only on science / technology or market to initialize the generation of innovations. The strict separation between invention, innovation and marketing does not accurately represent the dynamics of innovation today. The linear model is a first generation model, and only takes into account the thrust of science / technology or market pull (concepts 50-60-70 years) as a means to begin the process of innovation Open model Open model Innovation is a new innovation strategy in which companies get innovation that comes from outside the companys internal boundaries. This term was coined by Henry Chesbrough, who in his book Open Innovation, proposes to open the creative processes of innovation, in order to get innovative ideas from any source, whether internal or external to the company, and not only from the areas dedicated to the business activity Open Innovation means combining internal knowledge with external professional cooperation. Thus, research centers as well as universities, experts and other companies offer solutions to companies of what is known as collective intelligence. This will break new ground, contacts, opportunities, where innovative ideas flow freely from any source Teece model Teece proposes a model that takes into account two factors that are important to profit from innovation: ease of imitation (imitability) and complementary assets. The imitability can come of intellectual property, protection of technology or the fact that imitators have no powers to mimic the technology. Complementary assets are beyond the capabilities-technology that the firm needs to exploit (manufacturing, marketing, redistribution channels, service, reputation, brand and complementary technologies) Blue ocean- The author focuses on the need to put aside destructive competition between companies if you want to be a winner in the future, expanding the horizons of the market and create value through innovation. the author differentiates two most common competitive situations in any industry: blue oceans and red oceans. Red oceans represent all the industries that exist today, while blues symbolize business ideas currently unknown. In red oceans industries limits are well defined and are accepted as they are. The more competitors there are, the benefits and growth opportunities diminish, products are standardized to the maximum and competition becomes bloody. By contrast blue oceans are characterized by the creation of markets in areas that are not currently exploited, and that create opportunities for sustained profitable growth and long-term 3. INNOVATIVE COMPANIES This are some examples of successful companies Huawei The Chinese company based in Shenzhen has reached the second position as a provider of telecommunications equipment, ahead of Alcatel Lucent and Nokia. He recently defeated by Nokia Siemens and Ericsson 4G system contract in Norway. This year has reached its global market share to 20%. Apple Apple company has won the award in the categories of gadgets and music. In less than two years, their App Store and sells more than 140,000 applications, and users have downloaded 3 billion to them. He has also continued to develop its iTunes music unit with organic growth and acquisitions as Lala. He has also been able to control an increasingly fiercer distribution channels Google Google has come out victorious in the mobile category (with a 86% share of searches) and video (where YouTube is the top server). Google has been a exelent company to launch new products, as Smartphone Nexus One, Android, operates the largest digital library market . First Solar For years, the race of the global photovoltaic industry has been to minimize the cost of energy production in order to compete with other energy sources. First Solar was the first company to lower the barrier to a dollar per watt, and by the end of 2009 was $ 0.85 Novartis The Swiss drug maker is a constant generator of ideas, after focusing its R D in rare diseases and vaccine development. The Food and Drug Administration has approved no less than nine new drugs last year. refeeeeeeeeeeeeeeeeeeeeeeeeeeeeee environmental effect it can be define the organizational environment as all the elements that significantly influence the daily operations of the company, dividing them into two: micro environment and macro environment. Microenvironment This consists in real people and organizations with whom they interact with the company. Among the main ones include: à ¢Ã¢â€š ¬Ã‚ ¢ Customers: constituted by groups of persons or institutions who buy the goods and use the services of the organization. à ¢Ã¢â€š ¬Ã‚ ¢ Providers: Providers are company specific, both information and funding, as the raw material that the company needs to operate. à ¢Ã¢â€š ¬Ã‚ ¢ Competition: specific companies that offer goods and services identical or similar to the same groups of customers or clients. à ¢Ã¢â€š ¬Ã‚ ¢ regulators: who are the agencies and government representatives at the local, state and national laws that punish and regulations affecting business operations within a given country. macroenvironment: understand the social forces that affect the whole microenvironment and includes demographic forces, economic, natural, technological, political, cultural and competitive. Competitive environment, every company must take into account its size and position in the industry with respect to its competitors. To survive, a company must meet the needs and desires of consumers better than does the competition. Economic environment: involves factors affecting purchasing power and spending patterns of consumers. Purchasing power depends on income, prices, savings and credit of the moment Technological environment: the most dramatic force that shapes our destiny is technology. Political environment: consists of laws, government agencies and pressure groups that influence and limit the activities of various organizations and individuals in society. Cultural Environment: includes institutions and other forces affecting the valuesà ¢Ã¢â€š ¬Ã¢â‚¬ ¹Ãƒ ¢Ã¢â€š ¬Ã¢â‚¬ ¹, perceptions, preferences and behaviors of society LIDERSHIP Leadership has been defined as the activity of influencing people to strive willingly for the achievement of the objectives of the group. By group we mean a small group, a sector of the organization, an organization. What matters is the organizational leadership in the field. From this definition arise two key areas of leadership: 1) The intellectual process of thinking about the objectives of the organization. 2) The human factor, that is, influence people to voluntarily strive to achieve the objectives. John P. Kotter, in his book The Leadership Factor (1988), says that leadership is characterized by the following: 1) Develop a vision of what should be the organization and generate the necessary strategies to implement the vision. 2) Achieve a network cooperative human resources, which involves a group of highly motivated and committed to make the vision a reality. The definition of leadership cited at the beginning contains a key word voluntarily, which could also be translated as willingly. Not just about influencing people to do but to voluntarily strive to corresponding targets. Approaches These approaches are based on the study of behavior rather than on the depth of personality traits of substantival theories. The most important contributions in this regard have been those of: Theory X and Y Mc Gregor Theory X leads to an autocratic leader performance, and the Y theorie leads to a participatory performance. But being a one-dimensional approach that works with a single variable, the use of authority by the person who leads, is not accourate enough to explain its complexity as is leadership Likert management systems Formulated a model with intermediate degrees between X and Y. To Likert best to lead a team corresponds to a participatory behaviour Likert found that management under the participatory system were most effective and in which showed the best motivation. He built a very comprehensive questionnaire on organizational characteristics, that tests 18 variables classified in the categories Leadership, Motivation, Communication, and others. Its main limitation is that it is only useful in cases where it is intended to improve the lead making it more participatory. In this sense it is more applicable to small groups and instructed personnel. The Managerial Grid of Blake and Mouton This marriage of researchers was able to define a model based on the intersection of two variables: the concern for people and concern for production. While five main positions are standardized, the grid gives possibilities to eighty-one intersection between the two variables. The main contribution is to show that both variables are called mutually. It would be hard to imagine good long-term gains without a committed and motivated personnel. Without doubt, the greatest value of this approach is that it breaks the paradigm dimensional. However, the main criticism he has received is that indicate a unique driving style as best for all circumstances. CHANGE MANAGEMENT It is a process by which organizations move from the present state to a future state,changing in order to increase their effectiveness. A Process to achieve better efficiency, in which an organization achieves its objectives. organizational efficiency is amount of resources the organization has ,to be used to produce a number of products. Levels change When focused on the organization as a whole, we see that this can be divided into four levels at the time of analyzing the changes: Strategic level: proposing a change in the overall objectives of the organization, both in terms of its essential orientation of vision and their reason for their mission. Structural level: proposes a change in the organizational structures, it involves changing authority relations, the coordination mechanisms, redesigning jobs, or similar structural variables Technical level: technology change encompasses changes in how work is processed and the methods and equipment used. Human level: people change refers to changes in attitudes, skills, expectations, perceptions and behavior of employees, including, in turn, according to Daft and Steers (1992) four types of changes: patterns of interaction, skills in human relations and in the basic attitudes, values à ¢Ã¢â€š ¬Ã¢â‚¬ ¹Ãƒ ¢Ã¢â€š ¬Ã¢â‚¬ ¹and motivations of individuals. Thereby changing the behavior of individuals and groups requires the transformation of one or more of the aforementioned levels (Quoted in Romeo, 1999). Models of organizational change Many models are used to carry out or try to explain, in an effective way, the process of change, example is the model of Lewin. Lewin (1951) develops a dynamic theory, which explains that the the behavior is a function of the individuals interaction with his social environment, essentially based on the different groups to which the person belongs. it should focus not only on the individual in isolation, but in this within their social environment, taking as unit change the social group to which the individual belongs. The status quo of the organization, to Lewin (1951) is a state of dynamic equilibrium between forces that tend to help the organization and forces that tend to counteract or prevent wrong decitions, and to effect a change is necessary to break that dynamic balance between these forces. unfreezing is the name given to this initial process where old ideas or practices are suppressed by new ones and can be induced by increasing the driving forces of change growing perception of benefits associated with this, by reducing the resistance or obstacles to change, or combination of both. Following the Change in which new ideas practices. then comes refreezing ,requiring the integration of new insights into the structure of the organizational system . The refreezing state marks the return of the organization to a dynamic balance of forces that support or restrict any intervention. Critical analysis 4. INTRO Few companies can be described as revolutionary and successful, changing markets and consumer behaviours, apple is one of them, a remarkable company that over time has created an identity and an image that impacted in their followers. The technological direction of the company began to build in 1971 when they met Steve Wozniak and Steve Jobs. The former is responsible for creating the first Apple computer, while the latter promoted among the major supporters of computing and digital electronics shops. Apple has begun a career that has had its ups and downs due to different administration, Steve Jobs being the most successful, turning the company into one of the largest in history But what does make it a success? Innovation, the key of success, which leads to a competitive advantage. From the beginning of Apples history in 1976, Steve Jobs, the soul of the company, had a different view of its competitors, looking distinguished among its rivals, seeking exclusivity and novelty, as jobs mention, I want to bring an easy to use computer to the market. From here we can analyze that jobs from the start thinking like a consumer, which would win the loyalty of its customers. With the launch of Apple II the computer revolution began, having as the main rival IBM. But what type of innovation strategy do they have at that time? Clearly the development of their products were made by them within their company, all the ideas were in apple, As mentioned in the textbook Apple practised to horizontal and vertical integration relied on its own property design A classic type of linear model innovation, as mentioned in the literature review. Basic research Applied research Development Commercialization The challenges started when IBM developed a faster processor and the use of an open operative system(ms dos) Limitating the sofwares that apple had developed,as well as the slow processor speed, and falling 62% of apple net income between 1982 and 1983 leading to a crisis in the company and the dismissal of Steve Jobs. With the entry of Sculley as CEO, apple tried to gain space in a new market, education, which were driven by its high technology softwares, they recover their market share and stabilized at 8% as (referred in the case study) As the philosophy of Jobs to make things simple, Sculley introduce plug and play peripherals which allow overpricing their products. 4.1 THE STRATEGY At this stage the revenues came from exclusivity rather than cheap products and apple still producing their own monitors, chips and disk drivers, keeping the classic innovation model. But now apple forge and alliance with their main rival, IBM ,creating 2 joint ventures in order to produce new operating systems and multimedia applications, Sculley was replaced in June 1993 by Michael splinder. It was a good decision to change the management? With the new management, changes were inevitable, apple started licence many companies to make Mac clones, trying to reduce costs, which was a poor decision made by splinder, apple lost 69 billion dollars in 1996 After 12 years Steve Jobs returned and became the interim CEO of apple 4.2 NEW BEGINING, NEW IDEAS, INNOVATION With the return of Steve Jobs, Apple returned to the path of innovation. Not only in technology but also in the strategy and business model. For example: Opening its own stores to broaden the scope of the external distribution channel. For the first time apple open and online store to set up direct sales They invest more money on Research and Development Decrease its inventory In 1998 apple gained real profit from their all in one computer, iMac, that could support Microsofts peripherals for the first time. With jobs in command, the company started to reshape quickly. Those were signs that the course was on track, Apple posted a profit of 309 million Dollars 4.3 NEW STRATEGY-BLUE OCEAN The real revolution of apple came with uncontested line of products, the reinvention of portable music devices, the telephone and the tablet. Apple had an outstanding strategy, the digital hub strategy, Mac became the preferred hub to control, integrate and add value to these devices. All started with the iPod As the theory of Blue Ocean, in order to create a new market and escape from the battling Red Ocean a company have to be innovative, different. Apple launched a new concept of music device, the iPod Blue ocean strategy quick analysis (BASED ON IPOD DEVICE) 1. Increase: the music storage can store up to 1000 songs 2. Reduce: energy consumption, up to 10 hours battery 3. Create: ultra portable high performance device, iTunes 4. Eliminate: old concept of music device. Through this commitment to innovation on all fronts in which focused, Apple managed to gain success as 60% of the digital music market. With the iPod, Apple has done what he does best: offer a product Innovative, bringing together high technology, attractive design and a simple interface use. And with its iTunes online store, Jobs offered an innovative business model. iPhone A new revolution of the company would begin with the launch of the iPhone in 2007, a multimedia smart phone with Internet access, touch screen and a minimal hardware interface. His success was such that it would be awarded the Invention of the Year by Time magazine in 2009, Apogee has maintained that through the sale of new issues as the iPhone 3G, iPhone 3GS and iPhone 4 iPad With a revolutionary concept between smartphone and a laptop (which would later be called tablet), the company lashes out in early 2010 to introduce its new device called iPad. Its multitouch capabilities, wide screen, its innovative design and powerful hardware allowed him to position itself as the most popular product of the year. However not all inventions made à ¢Ã¢â€š ¬Ã¢â‚¬ ¹Ãƒ ¢Ã¢â€š ¬Ã¢â‚¬ ¹by apple where sucesful, not always an Innovative product will be succesful, for instance the Mac Mini and the Apple TV were a failure, But why? Because they havent figured out the right way to create a compelling TV product Most of their best selling products are based on an apple operative system, and a TV box does not need that. Microenvironment FACTORS-SWOT ANALYSIS Strengths: Apple is one of the marks of technological innovation in the worlds largest entertainment. It has a large number of fans who admire the quality of their products. Such loyalty guarantees the permanence of its customers and generates the attraction of new consumers. In turn, Apple products are easy to handle and excellent quality. Weaknesses: Apple has been criticized for antenna problems on its latest iPhone. Moreover, its admission policies iTunes Store applications and user freedom are very restrictive. The costs of their products are usually a little higher. Opportunities: The mobile market is expanding and Apple can leverage its established position in digital distribution. In the course of time, Apple has made a huge acepatacià ³n the AppStore (billion download until this year) developed by various groups of programmers in the world. Furthermore, due to its success, Apple is an interesting market for investment, which has benefited the company in times of crisis. Threats: There is increasing competition in the technology market. Market companies are quick to market with products like the iPhone or iPad. To remain in place, Apple should invest more in research and technological development. Economic crisis. ChNGE Recall that after having problems with the top management of the company he founded, Jobs was fired from Apple Computer in 1985, later founding the company NeXT, which was reabsorbed by the very Apple Computer in 1997, where Jobs is president ( CEO) since. 1. Changes in the board of the company that meant a renewed confidence in the company and markedly increased the stock price of the company. 2. The re-purchase of the licenses the use of PowerPC 750 (G3) of all companies that could make Mac clones (yes, there was a time that I had), so the company re-take control of the hardware in running your operating system. Start of organizational change Create a culture Reduce by 50% to 10% Research Development, and removed the unnecessary worker Launches first product of the new era Jobs. The IMAC computer without a tower, and of different colors, with cd, and no floppy. Jobs realizes the market opportunity that I had in music. After the success of Napster. AND ITUNES product launches, to the IMAC. And you create a culture, a style the best philosophy that a company can have. The music. Sony created the personal music player but did not use the MP3 market 3. The announcement of the Power Mac G3 in November 1997 (new flag) These changes Apple made were to have a profitable quarter ($ 47 million). But after more decisions were taken that catapulted the company to a winning streak that continues to this day: 1. Drastically reduced hardware production line of the company. 2. Because of this reduction is greatly simplified product offering Apple aside rare model names (most identified by numbers) and variations that just confused the current and future customers. 3. The announcement of the iMac and PowerBook G3 in May 1998. Thus Apples offer was reduced to three elements: * Advanced Desktops: PowerMac G3. * Equipment for home desktop: iMac. * Portable: PowerBook G3. 4. Completing hardware divisions that reported earnings as Newton, production printers and accessories. Significantly simplifying the internal structure of Apple. 5. It starts selling the iMac on August 15, 1998 and became the fastest computer sold in history. Apple went from a quarterly loss of $ 740 million in June 1997 to gains above the $ 100 million per quarter in July 1998. In 2009, Apple reported profits over 8 billion dollars per quarter Leadership When analyzing the personality of Steve Jobs, co-founder of Apple, there are many features that spring to mind to describe this technological genius who profoundly influenced a new generation with products like the iPod, iPad and iTunes. Some, stand for the rest of the business in its category. For example, a person was extremely perfectionist with each of the products created, intuitive to realize that products would have positive results and which are not, studious because researching every detail of your market and competition, and charismatic, because enthused employees to perform their work in a better way. While these qualities we find in some other successful entrepreneurs in their areas, the fact is that there is one that is shared by all innovative leaders: curiosity. Thats because the primary secret of success of Steve Jobs lay in his curiosity, according to Forbes, for example, curiosity led him to study calligraphy, which could create fonts that Apple made known to its original design. Even the same curiosity led him to travel to India to study Eastern mysticism and Zen Buddhism, to seek simplicity of design. And it was precisely this feature which became known as Apple technology company worldwide. This shows that the top executives are not always the most skilled, but are those who exploit the curiosity the most, as their ideas generate creative and successful business. In fact, one of the most famous phrases of Steve Jobs is when you innovate, you run the risk of wrong. Admit and innovates again. This reflects the spirit of entrepreneurship and creativity. Jobs was ahead of his time and embodied everything we thought it would be impossible to do. So do not doubt your ideas or your impulses. If your curiosity leads to new business plan, try. Maybe you can turn those ideas into big business to take you to achieve success in your caption and recognition among your competitors 6. CONCLUSION With the case study over, it has been learned the importance of innovation and the impact that it has in companies around the world, such is apple and its successful history. Also it is important to point out the influence of the strategic planning in order to gain competitive advantage among competitors it has been shown the importance of good management in critical situation and how it can affect the overall direction of a company. the blue ocean strategy has provided relevant information for the understanding of creating opportunities in new markets, for instance in the case of apple, the innovative idea of Steve jobs in the creation of the iPod, iPhone and iPad in the technological market made apple an outstanding successful company in the 21st century despite the fact of the global recession For the purposes of further research this assignment is for free use DANIEL LIZARRAGA References Medina Salgado Espindola and Espinosa 1994 Freeman, C., 1982 the economics of industrial innovation pg 56 Peter Drucker 1985 Innovation and Entrepreneurship pg 28-pg29 Steve Jobs 2005 Stanford university speech Henry Chesbrough Open Services Innovation: Rethinking Your Business to Grow and Compete in a New Era pg 66 Telegraph 2011

Communication Needs

We all have a right to communicate and voice our opinions. If an individual's communication needs are not met, this means they are being deprived of their basic human rights. They will be unable to express themselves and communicate how they are feeling, what they want to do, what they need, etc. If individuals are unable to communicate their needs it will have an impact on their well-being, relationships with family, friends and other members of their community. Explain how own role and practice can impact on communication with an individual who has specific communication needs. In my role as a support assistant it is my duty to ensure that I work in a person-centred way to support, encourage and promote individuals to live independently. This includes treating them with respect and dignity. I speak clearly and not use any jargons, etc. I identify their preferred method of communication. It would be bad practice to not meet the individual's communication needs. The individual may not receive the correct support or assistance. They will be unable to share their views or concerns, or have a say in what happens to them or express how they feel or what they need.They may become frustrated, angry and isolated. They may also become depressed, feel undervalued and have a low self-esteem. Analyse features of the environment that may help or hinder communication Features that may hinder communication may include, poor lighting, lack of privacy, distraction, noise from TV/radio, people all talking at the same time, seating arrangements, not facing individual when talking to them, covering mouth, eating or chewing, talking too fast or too sow, poor ventilation, room too hot or cold. Features that may help communication may include, talking slowly, clearly and concisely, eliminating any background noise, turn TV/radio down or off, sitting individual where they can hear or see what is going on, facing the individual when talking to them, using flash cards, pictures, etc. , not covering mouth, eating or chewing, finding a quiet place to talk, making sure room is well ventilated and at a comfortable temperature Analyse reasons why an individual may use a form of communication that is not based on a formal language system The individual ay be from another country. They may not have been taught a formal language system. They may have developed a system that is easy for them to understand.They may have a hearing or sight impairment or have a learning disability or mental health issues. Identify a range of communication methods and aids to support individuals to communicate A range of communication methods and aids that support individuals to communicate include sign language, body language, interpreters, hearing aids, hearing loops, speech aids, minicom, writing, drawing, pictures, objects, symbols, etc. Describe the potential effects on an individual of having unmet communication needs Unmet communication needs means that the individual is being deprived of their basic human rights. They will not be able to voice their concerns or opinions. The individual may develop mental health problems and may become depressed, frustrated, angry and isolated. This will also have an effect on their relationship with family and friends. Explain how and when to access information and support about identifying and addressing specific communication needs. It is important to take action as soon it has been identified that an individual has specific communication needs. You should establish what the needs are. Talk to the individual, their family, friends or others who are may support the individual to find out how to meet identified needs. Information can be sort from relevant support groups, social services or other professionals with experience in a specific area of communication. The individual's GP can also make a referral to a consultant specialising in the relevant field. Identify specialist services relating to communication technology and aids There is a range of communication technology aids available, including devices known as Voice Output Communication Aids (VOCA) and Augmentative and Alternative Communication (AAC). VOCA are dedicated to communication and may not have any computer functions. AAC devices are either symbol or text based. There are also communication software that can be added to a computer, mobile phone or PDA to enable a person to type what they want to say and play it back so others can hear what was typed. Describe types of support that an individual may need in order to use communication technology aids The device/equipment should be personalised to meet the individual's need and set up correctly. The individual and others supporting them should receive training on how to use the device. The individual should be supported to ead and understand the instructions and to follow any health and safety advice on how to use the device correctly. Explain the importance of ensuring that communication equipment is correctly set up and working properly It is important to ensure that the equipment is set up correctly and working properly otherwise it would be a waste of time and money as the individual's communication needs would still not be met. There could also be health and safety issues if the equipment is not set up or used correctly.

Analysis of The Chronicles of Narnia The Lion, the Witch and the Wardrobe Movie Free Essay Example, 1750 words

Miro visited the Netherlands in 1928 and began a series of paintings inspired by Dutch masters. That year he executed his first papiers coll s and collages. In 1929 he started his experiments in lithography, and his first etchings date from 1933. During the early 1930s he made Surrealist sculptures incorporating painted stones and found objects. Also in 1936 Mir was included in the exhibitions Cubism and Abstract Art and Fantastic Art, Dada, Surrealism at the Museum of Modern Art, New York. The following year he was commissioned to create a monumental work for the Paris World s Fair. In 1941, he began working in ceramics with Josep Llor ns y Artigas and started to concentrate on prints; from 1954 to 1958 he worked almost exclusively in these two mediums. In 1959, he resumed painting, initiating a series of mural-sized canvases. During the 1960s he began to work intensively in sculpture. On the other hand, as an artist, Salvador Dali was not limited to a particular style or media. Th e body of his work, from early impressionist paintings through his transitional surrealist works, and into his classical period, reveals a constantly growing and evolving artist. We will write a custom essay sample on Analysis of The Chronicles of Narnia: The Lion, the Witch and the Wardrobe Movie or any topic specifically for you Only $17.96 $11.86/page In 1917 he met Francis Picabia. In 1920 Mir made his first trip to Paris, where he met Pablo Picasso. In Paris he associated with the poets Max Jacob, Pierre Reverdy, and Tristan Tzara and participated in Dada [more] activities. Dalmau organized Mir s first solo show in Paris, at the Galerie la Licorne in 1921.

Analysis Of The Movie Dear White People By Justin Simien

Racism Still Exist The feature film â€Å"Dear White People† Directed by Justin Simien is a smart and a fearless debut as I have seen from an American filmmaker in quite some time: open to encourage and confident in its own originality. And he deserves the won the U.S. Dramatic Special Jury Award for Breakthrough Talent at the 2014 Sundance Film Festival and Independent Spirit Award for Best First Screenplay. We have heard it a lot that We have a black President so racism must be over? We have seen a lot of stories in just the last couple of years about white People throwing black-themed parties full of insulting racial stereotypes? No other film comes with more buzz than Justin Simien s debut feature, Dear White People, particularly amongst the black community expecting a blistering new voice similar to a Spike Lee. It’s a clever campus comedy that revolves around a handful of hot potatoes — race, sex, privilege, power — with elegant swiftness and only an occasional fumble. If you ever watch this movie then you will want to talk about it afterward, even if the conversation feels a little awkward. If it doesn’t feel awkward then you’re doing it wrong. There is great enjoyment to be found here, and very little comfort. As it sets on Ivy League institution, these institutions are where many of America s leaders and innovators are farmed, but during the process it includes a certain amount of sandbox childishness. It s fortunate that, like The Social Network, Dear White

Renewable Energy Through Feed On Tariffs And Taxes

Introduction In recent years, more has been debated on whether or not nonrenewable energy such as fossil fuel has caused global warming. Sakamoto and Managi (2016) believe fossil fuel is the likely reason that temperatures have been rising from greenhouse gases, increasing the CO2 emissions (p. 1). With depleting resources, it may be a good idea to look more seriously at renewable energy (Sakamoto Managi, 2016, p. 16). More governments have been trying to create policies to encourage usage of renewable energy. However, it has been debated what is the best way to enforce renewable energy. In this paper, I will discuss two ways countries have been encouraging renewable energy through feed-in tariffs and taxes. Body Sakamoto and†¦show more content†¦14). An increase in marginal cost of nonrenewable resources will drive more consumers to renewable resources. On the other hand, a tax on nonrenewable energy does not have the same effect. Sakamoto and Managi (2016) discovered: â€Å"The introduction of the tax on the nonrenewable energy sector leads to the reduction of nonrenewable energy use and an acceleration of renewable energy use, but the acceleration is not enough to keep the pre-tax level of production†¦ because the marginal cost of renewable energy is high as renewable energy use increases† (p. 15). A tax on nonrenewable energy leads to an increase in marginal cost of renewable energy. Less consumers were interested in buying when prices on renewable energy rose. Another way governments have been trying to implement renewable energy is through feed-in tariffs. Feed-in tariffs usually consist of some type of purchase obligation and also a tariff payment on renewable energy that is fixed for every unit of electricity (Jacobs, 2012, p. 43). The grid operator involved in the purchase obligation must buy the renewable electricity no matter what (Jacobs, 2012, p. 43). The producer has the right to a certain amount of money for every unit of electricity that they produce (Jacobs, 2012, p. 43). Jacobs (2012) conducted studies in Europe in the countries of Germany, Spain, and France that use feed-in

SocialTechnology Analysis of Revlon Free Essays

Issues that may impact the industry include consumers’ concerns about product safety and the use of animal testing by cosmetics companies[1]. In 1990, cosmetics giant Revlon became one of the first industry heavyweights to swear off all animal testing. Since then, Revlon has grown to be an animal-friendly empire, garnering awards for its products from magazines such as Cosmopolitan, Teen People, Allure, and In Style[2]. We will write a custom essay sample on SocialTechnology Analysis of Revlon or any similar topic only for you Order Now That is a signal that Revlon has an awareness of social responsibility and also showed their concerns about natural environment. Besides, with the income increasing, modern people are more willing to purchase personal care products and cosmetics for themselves. The age range of consumers is developing to both younger and elder. These trends are obviously seen especially in some developing countries and areas. Since the majority of personal care products are currently sold in the United States, Japan, Canada, and European countries(less than 20%of worlds population), the potential for sales of personal care products around the world is excellent. Increasingly, cosmetics/personal care is not an industry for women only; men purchase personal care products such as skin creams and hair care products/dyes and many men are trying cosmetics in an effort to improve their appearance. The market for hair colouring has expanded with teenagers and adults wanting more vibrant colouring options[3]. Revlon also shows its social responsibility according to charities. There are the most recent examples which are significant. Through November 2008, Revlon donated a percentage of their profits to the Rainbow Trust children’s charity. Another one is announced in May of 2009. Revlon said it would donate 10% of sales (up to $100,000) of its new color collection to fund women`s cancer program in partnership with the EIF, which full name is Entertainment Industry Foundation. How to cite SocialTechnology Analysis of Revlon, Essay examples

Working Capital Management Profitability -Myassignmenthelp.Com

Question: Discuss About The Working Capital Management Profitability? Answer: Introducation Woodside Petroleum Ltd is linked with petroleum exploration and production, which is used in Australia. The company comes under Oil and Gas industry, while they deal in producing petroleum products. Petroleum and LNG are the key product that is produced by Woodside Petroleum Ltd, which is allowed them to accumulate profits over the past fiscal years (Woodside.com.au 2018). From the valuation of company's operations relevant opportunity and threats could be identified, which might affect its revenue generation capacity. The major opportunity for your organization is the rising demand for Petroleum products around the world. Majority of the manufacturing, production houses, and vehicles uses petroleum products, which is an adequate opportunity for the company to improve its profitability in future. This rising trend of using petroleum product has allowed majority of the oil producing companies to increase their revenue to support future oil exploration projects. However, certain threats are also identified from the evaluation,which could hamper profitability of the organization in immediate future.Threats from substitute is a major problem for oil producing companies, where thermal power and solar energy are replacing maximum of the sales conducted by oil producing companies. The second threat for Oil and Gas companies is the declining value of crude oil in the market, which is reducing actual revenue collection of Oil and Gas organization. The constant decline in value of oil in the world market is threatening oil and gas companys existence, which is a major threat to Woodside Petroleum Ltd revenue. Both the threats identified would directly affect revenue generation capacity of Woodside petroleum Limited and increase their expenditure. On the other hand, Atil, Lahiani and Nguyen (2014) argued that due to the reduced prices of crude oil products the increment in substitute demand is declining, which is relatively a positive action for oil a nd gas companies. Calculating cash conversion cycle and comparing it with previous year and industry peer: Particulars 2016 2015 2014 Net sales 4075 5030 7435 Cost of goods sold 2234 3073 2883 Inventory 149 170 247 Accounts receivable 446 489 478 Accounts payable 546 813 605 Days inventory Outstanding 26.06 24.76 Days receivable outstanding 41.87 35.08 Days payable outstanding 111.02 84.21 Cash conversion cycle -43.09 -24.36 From the evaluation of above table, cash conversion cycle of Woodside petroleum cans be identified, which is relatively declining in 2016, as compared to 2015. This is due to declining sales, which was conducted during 2016. In comparison to its peers the cash conversion cycle is relatively depraved, leaving BHP Billiton. This indicates low financial position of the organisation and depraved cash availability to support its operational activities. Nobanee (2014) stated that with the help of cash conversion cycle investors can detect cash availability of an organization, which allows them to meet at a good investment decision. Improvement in Woodside petroleum cash conversion is needed or problems may arise in conducing daily operations. Stating example of short term debt financing instrument and long-term debt financing instrument, while depicting whether the company has used debt financing in 2016: Example of short term debt financing is short term bank loan, which is accumulated by companies to support their obligations. in addition, long term debt financing example is bond issue, which is conducted by companies to expand its process and increase their production capability. From the evaluation of both C2 and C3 notes, the company has used long term debt financing to support its operational activities. The increment in bonds and debt facilities from 2015 to 2016 is an indication that the company has acquired capital for improving its operation. On the other hand, Huang, Ritter and Zhang (2016) argued that increase debt accumulation could eventually lead to insolvency, which might hamper operational capability of an organization and force them to liquidate. Conniving bond price for 6/12/2018: Particulars Value Face Value $ 100 Coupon Rate p.a. 2.25% Half Year Coupon Rate 1.13% Coupon Payment 1.13 Yield Rate 2.62% Half Yearly Yield Rate 1.31% Total Period 6 No. of Coupon Payments 12 Market Price of Bonds $ 97.96 Evaluating the bond price with calculated figure and mentioned figure, while detecting the reason behind its selling at par: The calculation conducted in the above table mainly stated market bond value of Royal Dutch Shell, which is at the levels of $97.96. on the other hand, the value identified in the figure provided in the assessment is $98.00. this irrelevant decline of the bond value is due to the change in yield rate. the coupon payment is fixed for the bond, while interest rate varies from time to time. This increment in interest rate from coupon rate mainly reduces value of the bond, which is seen for Royal Dutch Shell bonds. Hence, further increment in interest rate could force the bond to sell at par value, which is seen currently for Royal Dutch Shell bonds. According to Ballotta. and Kyriakou (2015), bond valuation allows investors to detect market value of an existing Bond and make relevant investments to support their return requirements. Portraying share price of Shell in euros: Particulars Value Current share price in Euro 28.93 EUR to USD $ 1.22 Market return 9.00% Risk free rate 1.25% Annual dividend in USD $ 1.41 Annual dividend in Euro 1.15 Growth rate 5.00% Cost of capital 7.75% Current Share price in Euro (1.15*(1+5%))/(7.75%-5%) Current Share price in Euro 44.06 The above calculation mainly helps in identifying theoretical share value of Royal Dutch Shell, which could allow investors in making adequate investment decisions. Furthermore, the current price level of the organization is mainly at 28.93, while the theoretical share price is at 44.06. This indicates that more growth in share value of the organization can be achieved in future, which would allow investors to increase the return from investment. Hence, buying shares of Royal Dutch Shell is adequate, which would allow investors to improve their capital growth. Lazzati and Menichini (2015) mentioned that by using dividend discount model investors can detect investment opportunities, which might increase their return from investments and raise their portfolio value. On the other hand, D'Amico (2016) dividend discount model mainly utilizes one factor for determining actual share value of an organization, which can be manipulated by organizations. Portraying Net present value of the project at WACC 8.00%: From the valuation of 5.94% and 8% WACC, Adequate cost of capital for the organization is identified. The NPV provided from 5.94% WACC was relatively at the levels of 3,109,533,659, which is high and provides the company with adequate returns. However, the WACC of 8% mainly indicates a negative value of -1,800,863,909, while stating the loss portrayed from the project. Hence, with 5.94% WACC the gas project is viable, while with 8% WACC the project is not viable for Royal Dutch Shell. With the use of net present value organizations can detect actual viability of the project and understand the returns that could be provided from their investment (Lokman et al. 2017). However, certain projects due to no cash inflow are not able to support time value of money, which could directly affect company's ability to increase firm value. Currently, the WACC of 5.94% is providing a positive net present value for Royal Dutch Shell, which is a positive indication for the company. On the other hand, the WACC of 8% is portraying a negative valuation for the project, which indicates that cash flow of the project is not supporting time value of money. Reference Atil, A., Lahiani, A. and Nguyen, D.K., 2014. Asymmetric and nonlinear pass-through of crude oil prices to gasoline and natural gas prices.Energy Policy,65, pp.567-573. Ballotta, L. and Kyriakou, I., 2015. Convertible bond valuation in a jump diffusion setting with stochastic interest rates.Quantitative Finance,15(1), pp.115-129. D'Amico, G., 2016. Generalized semi-Markovian dividend discount model: risk and return.arXiv preprint arXiv:1605.02472. Eliasson, J. and Brjesson, M., 2014. On timetable assumptions in railway investment appraisal.Transport Policy,36, pp.118-126. Florou, A. and Kosi, U., 2015. Does mandatory IFRS adoption facilitate debt financing?.Review of Accounting Studies,20(4), pp.1407-1456. Huang, R., Ritter, J.R. and Zhang, D., 2016. Private equity firms reputational concerns and the costs of debt financing.Journal of Financial and Quantitative Analysis,51(1), pp.29-54. Lazzati, N. and Menichini, A.A., 2015. A dynamic approach to the dividend discount model.Review of Pacific Basin Financial Markets and Policies,18(03), p.1550018. Lokman, S., Volker, D., Zijlstra-Vlasveld, M.C., Brouwers, E.P., Boon, B., Beekman, A.T., Smit, F. and Van der Feltz-Cornelis, C.M., 2017. Return-to-work intervention versus usual care for sick-listed employees: health-economic investment appraisal alongside a cluster randomised trial.BMJ open,7(10), p.e016348. Nobanee, H., 2014. Working capital management and firm's profitability: an optimal cash conversion cycle.International Research Journal of Finance and Economics. March (120), pp.13-22. Woodside.com.au. (2018).Woodside Energy | Home. [online] Available at: https://www.woodside.com.au/Pages/home.aspx [Accessed 20 Jan. 2018]. Yazdanfar, D. and hman, P., 2014. The impact of cash conversion cycle on firm profitability: an empirical study based on Swedish data.International Journal of Managerial Finance,10(4), pp.442-452.