Argumentative Essay Sample on New Media Channels

Argumentative Essay Sample on New Media Channels Defining the new media and their role in American politics is an important, albeit somewhat challenging, task. In this book, we argue that the new media are quantitatively and qualitatively different from the mainstream press. They do not simply represent a variation of the established news media. The new media have significant potential to educate, facilitate public discourse, and enhance citizen participation. They provide mass audiences with a seemingly boundless array of sources that transcend the time and space constraints of traditional media. In addition, new media technologies easily bypass national and international boundaries, bringing American citizens into contact with diverse cultures and distant happenings to an extent previously unimaginable. As such, new media have the potential to enhance the publics understanding and tolerance of different societies. However, new medias promise is undercut by the commercial and entertainment imperatives that drive them. In reality, the political role of new media is ancillary. The new media are political when politics pays. Thus the new medias role in the political realm is volatile. Their educational function is incomplete and sporadic. The new media constitute a highly diverse range of communication formats. One way of distinguishing between types of new media is to categorize them on the basis of whether they employ old or new technologies. For many forms, the term new media is a misnomer. They involve old media technologies that have been newly discovered or reinvigorated as political media. It is the extent of their politicisation that is new, not their existence. Thus there is a sense of novelty even in those media that have existed for some time. New media that employ old communication technologies include political talk radio, television talk shows, television news magazines, electronic town meetings, and print and electronic tabloids. Political talk radio, for example, dates back to the origins of radio itself in the 1920s. Early radio stations featured not only news, but also political broadcasts, such as conventions, presidential inaugurations, and speeches of presidents and other public officials. Television talk programmes also are not new. Morning variety talk shows, such as Today, Good Morning America, and CBS This Morning certainly predate the current interest in new media. The Today Show first aired in 1952, while CBS Morning News debuted five years later. Phil Donahues nationally syndicated talk programme premiered in 1970 and featured presidential candidate debates from 1984 to 1994. His programme became a significant venue for Democratic presidential primary candidates in 1992. There are many more examples of particular new media programmes that did not exist a decade ago. The nationally syndicated Rush Limbaugh radio programme appeared in 1989 and his television show first aired in September 1992. Many other talk radio hosts with large national audiences, such as G. Gordon Liddy and Michael Reagan, have emerged only in the 1990s. MTVs political campaign coverage did not debut until the 1992 presidential primary election. In addition, new media channels employing traditional media technology have surfaced in recent years. For instance, even though cable is not a new format for broadcasting, new channels designed at least partly for political talk now exist, including C-SPAN, CNBC, The Talk Channel, MSNBC, and The Comedy Channel. Some formats are genuinely new, having evolved from more recent innovations in communications technologies. The proliferation of online computer networks, coupled with an explosion in the use of home computers, has created new methods for political communication. Fax machines and voice mail operations facilitate citizens ability to register opinions with politicians and journalists. These new technologies infuse political communication with a new immediacy. The public can now receive and disseminate political messages with increased ease and speed.

Truck Stop - Business Plan

Truck Stop - Business Plan 1.0 Executive SummaryInterstate Travel Center is intended to be the major travel center in Dallas, Texas. It will consist of a convenience store, gas/diesel islands, restaurant, and amenities for the trucking business. Interstate Travel Center is a corporation owned and operated by Steve and Janet Smith.The company's management philosophy is based on responsibility and mutual respect. Interstate Travel Center has an environment and structure that encourages productivity and respect for customers and fellow employees.Interstate Travel Center is organized into two main functional areas: convenience stores of this type of freight are food and consumer staples delivered locally, and manufactured goods shipped between commercial establishments or delivered to consumers or retail outlets.Truckers have the largest share of the freight market. Unlike railroads, pipelines, or water carriers, they don't face geographic limits caused by physical constraints, and can offer door-to-door service. They also pay relatively little to use the nation's highway system. Railroads, by contrast, must build, maintain, and police their rights-of-way.The trucking industry consists of two broad segments: private and for-hire. In turn, for-hire truckers fall into two broad categories: truckload (TL) and less-than-truckload (LTL) carriers.The accompanying Market Analysis chart and table reflect the total projected potential customers that Interstate Travel Center might acquire. The categories have been simplified to include all instate commercial trucks (both the TL and LTL segments) and all instate private vehicles as listed in the U.S. Department of Transportation's 1997 Vehicle Inventory for the state of Texas. The listed number of private vehicles in Texas is approximately 17 million, however, only a small percentage of private vehicle owners will be inclined to prefer truck stops over gas stations. Therefore, instead of using the larger number, a percentage of the overall private vehi cles based on the percentage of private vehicles that truck stops service is used. The third category contains all interstate and NAFTA-based commercial business that passes through Texas, and the final category reflects all out-of-state private vehicles, such as tourists. Again, the numbers in this final category reflects a percentage of out-of-state private vehicles that truck stops normally service.The growth rates used in this table are based on figures available from the U.S. Department of Transportation. The growth rate for the out-of-state and NAFTA commercial vehicles is only approximate, as it is difficult to project what affects investments in the "Port-to-Plains" trade corridor will have on traffic that passes adjacent to the travel center.Finally, it must be noted that although the Market Analysis table indicates that the largest market segment is instate private vehicles, the actual percentage will probably be significantly less. Experience has shown that the largest pe rcentage of vehicles serviced by truck stops, such as Interstate Travel, is in the commercial truck segment.Market Analysis (Pie)Click to EnlargeMarket AnalysisPotential Customers Growth 2001 2002 2003 2004 2005 CAGRInstate Commercial Trucks 4% 500,102 517,606 535,722 554,472 573,879 3.50%Out-of-state Commercial Trucks 6% 285,111 302,218 320,351 339,572 359,946 6.00%Instate Private Vehicles 3% 1,286,952 1,325,561 1,365,328 1,406,288 1,448,477 3.00%Out-of-state Private Vehicles 4% 458,154 476,480 495,539 515,361 535,975 4.00%Total 3.63% 2,530,319 2,621,865 2,716,940 2,815,693 2,918,277 3.63%4.1 Market Segmentation [back to top]With some $344 billion in 1998 revenues, the trucking (or motor carrier) business claimed approximately 79% of the U.S. commercial freight transportation market. This total was divided among two sectors: private carriage and for-hire.Figure 3. Commercial Freight Distribution(In billions of dollars)Transportation Billion $ % of TotalTrucking, Total $344 63.6%Pri vate, Interstate $115 21.3%Private, Local $85 15.7%Truckload $65 12.0%Local For-Hire $40 7.4%LTL, National $9 1.7%LTL, Regional $11 2.0%Package/Express (ground) $19 3.5%Railroad $36 6.7%Pipeline (oil gas) $26 4.8%Air freight, Package Domestic $17 3.1%Air freight, Heavy Domestic $6 1.1%Water (Great Lakes/rivers) $7 1.3%Transportation Total* $436 80.6%DistributionWarehousing $70 12.9%Logistics Administration $35 6.5%Distribution Total $105 19.4%Total $541 100.0%*Excluding $5 billion in international cargo.Sources: Standard Poor's, Data Resources, Inc., and Cass Information Systems.Private CarriersAlthough private carriers comprise the largest component of the motor carrier industry, financial information isn't available for them. However, the industry is estimated to provide services valued at some $200 billion annually (or 58% of motor carrier revenues in 1998).The Private Truck Council estimates that there are more than three million trucks operated by private fleets, and these tr ansport 3.5 billion tons of freight annually.For-Hire CarriersThe For-hire category generated $144 billion in 1998, or 42% of the industry total. Of that $144 billion, some $105 billion (73% of the sector's business) came from truckload shipments, and $39 billion (27%) was from less-than-truckload and package/express delivery.Truckload (TL): The national for-hire truckload segment had total revenues of $65 billion in 1998. The TL sector is largely privately owned, with the exception of the top ten publicly owned companies. (For this reason, we focus on the LTL sector in this survey.) Schneider National Carriers is the largest TL operator, with revenues of $2.8 billion in 1998, followed by J.B. Hunt Transport Services ($1.8 billion) and the Landstar family of truckload carriers ($1.3 billion). Of the 50,000 truckload carriers, perhaps 95% have annual revenues of less than $1 million.Less-than-truckload (LTL): We estimate that the less-than-truckload market garnered $20 billion in 199 8. Of this amount, the fast growing regional segment accounted for slightly more than the national market.The largest national LTL carrier in 1998 was Roadway Express Inc., with $2.32 billion in LTL revenues in that year; the company's total revenue of $2.55 billion includes TL freight. Yellow Freight System (a unit of Yellow Corporation) was close behind, with $2.25 billion (out of $2.46 billion total). Consolidated Freightways Corporation was third, with $1.95 billion in LTL revenues.In the regional LTL market, Con-Way Transportation (a unit of CNF Transportation Inc.) was the largest player, with $1.5 billion in LTL revenue in 1998. Second place belonged to US Freightways, whose family of five carriers has generated some $1.4 billion in LTL revenue. American Freightways Corporation was third, with $928 million in LTL revenues.4.1.1 Market Trends [back to top]Industry TrendsWhile a driver shortage continues to plague the truckload sector, the LTL carriers have adapted to changing market conditions in order to capitalize on growth opportunities. Intermodal shippers also stand to benefit from market trends. Finally, the evolution of e-commerce stands to intensify competition among all carriers.E-commerce is Big BusinessThe Internet is rapidly changing how the consumer selects and purchases merchandise. Age-old relationships between vendors, distributors, retailers, and carriers are being torn apart. For many Internet users, the computer has displaced the telephone as a means of transmitting a purchase order, while catalog vendors who have put their wares on the Internet may now receive orders electronically, in addition to mail and phone orders. For the shipping industry, e-commerce is changing the way in which goods are ordered.The estimated size and growth potential for e-commerce varies widely. Forrester Research, based in Cambridge, Massachusetts, has estimated e-commerce at the consumer level at $7.8 billion in 1998, and projects that it will rise to $18 billion in 1999, $33 billion in 2000, and $108 billion in 2003. According to Forrester, total worldwide e-commerce, including business-to-business transactions, was estimated at $43 billion in 1998, and projected to hit $127 billion in 1999.The Direct Marketing Association has calculated that e-commerce generated just $5.9 billion in 1998 (or 0.2% of sales), and will climb to 2.5% of retail sales by 2004, representing a 50% annual compound growth rate during this period.4.1.2 Market Growth [back to top]Dallas SupportAccording to information released by the Texas Department of Transportation (TxDOT), nearly $600 million in projects are already programmed over the next four years, and more than $1 billion in additional transportation projects are recommended for the Dallas region. The projects are on top of a $175 million increase in NAFTA transportation funding through 2003 that was part of the border initiative announced in April, 1999.It is said that a Ports-To-Plains Trade Corrido r could be in the future for Dallas, making it a major port of entry to Mexico. The corridor has been named a high priority corridor by the U.S. Congress, which has placed a greater emphasis on improving transportation in these regions. The major highway would have a direct route from the northern United States to two major port entries: Dallas and Eagles Pass.4.2 Business Participants [back to top]Industry: Trucking Terminal FacilitiesFigure 4, below, indicates the Market Statistics for trucking terminals. These are defined as establishments primarily engaged in the operation of route transshipment facilities used by highway-type property-carrying vehicles, including complexes which provide maintenance and service for motor vehicles.Figure 4: Market Size Statistics-Terminal FacilitiesEstimated number of U.S. establishments 1,386Number of people employed in this industry 64,105Total annual sales in this industry $181 millionAverage employees per establishment 52Average sales per est ablishment $.8 millionIndustry: Gasoline Service StationsGasoline service stations primarily engage in selling gasoline and lubricating oils. These establishments frequently sell other merchandise, such as tires, batteries, and other automobile parts, or perform minor repair work. Gasoline stations, combined with other activities, such as grocery stores, convenience stores, or carwashes, are classified in Figure 5 below according to primary activity.Figure 5: Market Size Statistics-Gasoline Service StationsEstimated number of U.S. establishments 71,159Number of people employed in this industry 471,041Total annual sales in this industry $98,817 millionNumber of employees per establishment 7Average sales per establishment $1.8 millionMarket Analysis by SpecialtyFigure 6 provides a market analysis by specialty for the gasoline service stations segment.Figure 6: Market Analysis by SpecialtySIC Code SIC Description Number of Businesses % of Total Total Employees5541-0000 Gasoline Service Stations 50,544 71% 286,0625541-9901 Filling Stations, Gasoline 18,844 26.5% 137,8975541-9902 Marine Service Station 171 0.2% 1,1235541-9903 Truck Stops 1,600 2.2% 45,959Total/Average 71,159 100% 471,041Note: Not all establishments have a specialty.5.0 Strategy [back to top]Interstate Travel Center's strategy is to develop a major travel center in Dallas, Texas. The center will consist of a major convenience store, gas/diesel islands, restaurant, and amenities for the trucking business. Key components of the company's initial strategy are summarized as follows:Advertising. Promote the new business through extensive advertising.Location. Provide a clean, safe and appealing location for travelers.Convenient center. Provide a convenient center with a full array of products and services for those that are traveling as well as for the citizens of Dallas and the surrounding communities.One-stop shop. Be the one-stop shop for travelers to and from Dallas.NAFTA trucking trade business. Cat er to the NAFTA trucking trade business.Good return on investment. Maintain a profitable business with a good return on investment.Interstate Travel Center will be developed in four phases. Phase development will enable the owner/operator to introduce viable, profitable goods and services without over-building. Over-building at this location would be easy to do because of the slower growth of the area associated with NAFTA, it would also mean certain failure if the owner/operator cannot secure resources for several years of financial staying power to support a negative cash flow. The timeline for the implementation of the various phases is contingent upon customer response and profitability and action is initiated at the discretion of the owners. It is assumed that the implementation of Phase II will occur sometime after the first three years of operation.Phase I: Initial DevelopmentDiesel fueling lanes: four; dual-sided fueling.Gasoline MPDs: four dispensers.Travel Store: Approxima tely 3,000 square feet.Showers: Approximately four stalls.Truck Loungers.Game Room.Restaurant: Seating for 64-69 patrons.Truck Parking: room for approximately 100-150 trucks.Scales: Owner to purchase scales.Phase II: Increased Goods and Services, Third Year of OperationDiesel fueling lanes: add two for a total of six lanes.Truck parking: add 100-150 spaces.Phase III: Increased Goods and Services, Fifth Year of OperationDiesel fueling lanes: increase to eight dual-sided fueling.Gasoline MPDs: increase to six dispensers.Travel Store: Enlarge to 4,800 square feet.Showers: Add four for a total of eight stalls.Truck services: Add lease space for truck services such as tires, batteries, oil and lube.Phase IV: Increased Goods and Services, Sixth Year of OperationAdd fast food unit.Add additional restaurant seating for a total of 100 patrons.Motel: Add 48 room unit.Truck Parking: Add 100 spaces (Total 400-525).Truck Wash.5.1 Marketing and Sales [back to top]A small traveler's guide will be published to advertise the travel center and all it has to offer. Advertising will be disseminated through the use of local newspapers, and radio and television commercials. Other promotional items, such as billboards and local chamber of commerce propaganda will also be employed. Customer service will be the number one priority of this business. This will, in turn, generate repeat business.5.2 Sales Strategy [back to top]The sales figures are based on projections of vehicles using the major highways adjacent to Interstate Travel Center. The yearly growth figures are based on conservative projections of increasing customer use as marketing and customer retention builds an established customer base. The growth rate for gas/diesel is five percent per year for the first three years. The restaurant growth rate is slightly higher, at seven percent per year. It it assumed that this venture will grow a stable customer base more quickly than the other ventures due to its more unique product experience. Finally, the growth rates for the travel store is set at four percent per year. This again reflects the belief that this venture will have the most difficulty in building service awareness and retention.Sales MonthlyClick to EnlargeSales ForecastUnit Sales 2001 2002 2003Diesel (gallons) 2,550,000 2,677,500 2,811,375Gasoline (gallons) 1,050,000 1,102,500 1,157,625Travel Store 230,004 236,904 244,011Interstate Travel Restaurant 81,276 86,965 93,052Rebates, allowances, etc. 246,600 246,600 246,600Total Unit Sales 4,157,880 4,350,469 4,552,663Unit Prices 2001 2002 2003Diesel (gallons) $1.75 $1.75 $1.75Gasoline (gallons) $1.50 $1.50 $1.50Travel Store $3.75 $3.75 $3.75Interstate Travel Restaurant $13.00 $13.00 $13.00Rebates, allowances, etc. $1.00 $1.00 $1.00SalesDiesel (gallons) $4,462,500 $4,685,625 $4,919,906Gasoline (gallons) $1,575,000 $1,653,750 $1,736,438Travel Store $862,515 $888,390 $915,041Interstate Travel Restaurant $1,056,588 $1,130,545 $1,209,676Rebates, allowan ces, etc. $246,600 $246,600 $246,600Total Sales $8,203,203 $8,604,910 $9,027,661Direct Unit Costs 2001 2002 2003Diesel (gallons) $1.67 $1.67 $1.67Gasoline (gallons) $1.40 $1.40 $1.40Travel Store $0.75 $0.75 $0.75Interstate Travel Restaurant $2.00 $2.00 $2.00Rebates, allowances, etc. $0.00 $0.00 $0.00Direct Cost of Sales 2001 2002 2003Diesel (gallons) $4,258,500 $4,471,425 $4,694,996Gasoline (gallons) $1,470,000 $1,543,500 $1,620,675Travel Store $172,503 $177,678 $183,008Interstate Travel Restaurant $162,552 $173,930 $186,104Rebates, allowances, etc. $0 $0 $0Subtotal Direct Cost of Sales $6,063,555 $6,366,533 $6,684,7846.0 Management Summary [back to top]Steven and Janet Smith will be the sole owners of Interstate Travel Center for the foreseeable future. It is planned that a management staff, consisting of a full-time manager and a part-time assistant manager, will be hired to handle the day-to-day operations of both the gas/diesel service and the restaurant sections of the travel c enter. As the company continues to grow, so too will management.Personnel Plan2001 2002 2003Steve Smith $50,000 $50,000 $50,000Janet Smith $50,000 $50,000 $50,000Convenience store/Gas station Manager $31,200 $31,200 $31,200Restaurant Manager $36,000 $36,000 $36,000Assist Manager - Cook $28,800 $28,800 $28,800Cook 2 $26,880 $26,880 $26,880Cook 3 $26,880 $26,880 $26,880Cook 4 $26,880 $26,880 $26,880Cook 5 $26,880 $26,880 $26,880Cook 6 $26,880 $26,880 $26,880Waitress/Waiter $11,808 $11,808 $11,808Waitress/Waiter $11,808 $11,808 $11,808Waitress/Waiter $11,808 $11,808 $11,808Waitress/Waiter $11,808 $11,808 $11,808Waitress/Waiter $7,680 $7,680 $7,680Waitress/Waiter $7,680 $7,680 $7,680Waitress/Waiter $7,680 $7,680 $7,680Waitress/Waiter $7,680 $7,680 $7,680Waitress/Waiter $7,680 $7,680 $7,680Waitress/Waiter $7,680 $7,680 $7,680Waitress/Waiter $7,680 $7,680 $7,680Waitress/Waiter $7,680 $7,680 $7,680Assist. Manager - Cashier $9,000 $9,000 $9,000Cashier $6,000 $6,000 $6,000Cashier $6,000 $6,0 00 $6,000Cashier $6,000 $6,000 $6,000Cashier $6,000 $6,000 $6,000Maintenance $9,600 $9,600 $9,600Total People 0 0 0Total Payroll $481,672 $481,672 $481,6727.0 Finance [back to top]The following topics outline the financials for Interstate Travel Center.7.1 Assumptions [back to top]The chart indicating the projected cash account does not take into account the investment needed to initiate Phases II-IV. The General Assumptions table states some of the more important business assumptions for the company.General Assumptions2001 2002 2003Plan Month 1 2 3Current Interest Rate 10.00% 10.00% 10.00%Long-term Interest Rate 10.00% 10.00% 10.00%Tax Rate 25.42% 25.00% 25.42%Other 0 0 07.2 Break-even Analysis [back to top]The break-even chart and table below describe how much money will need to be made to be profitable each month. As can be seen in the table, 224,821 units per month, or $116,907, is necessary for Interstate Travel Center to be in the black. These numbers can also be seen with the accompanying chart.7.3 Projected Cash Flow [back to top]The following table and chart reveal the projected cash flow for Interstate Travel Center for fiscal years 2001, 2002, and 2003.CashClick to EnlargePro Forma Cash Flow2001 2002 2003Cash ReceivedCash from Operations:Cash Sales $8,203,203 $8,604,910 $9,027,661Cash from Receivables $0 $0 $0Subtotal Cash from Operations $8,203,203 $8,604,910 $9,027,661Additional Cash ReceivedSales Tax, VAT, HST/GST Received $0 $0 $0New Current Borrowing $0 $0 $0New Other Liabilities (interest-free) $0 $0 $0New Long-term Liabilities $0 $0 $0Sales of Other Current Assets $0 $0 $0Sales of Long-term Assets $0 $0 $0New Investment Received $0 $0 $0Subtotal Cash Received $8,203,203 $8,604,910 $9,027,661Expenditures 2001 2002 2003Expenditures from Operations:Cash Spending $714,316 $732,403 $772,642Payment of Accounts Payable $6,500,180 $7,133,241 $7,484,370Subtotal Spent on Operations $7,214,496 $7,865,644 $8,257,012Additional Cash SpentSales Tax, VAT, HS T/GST Paid Out $0 $0 $0Principal Repayment of Current Borrowing $0 $0 $0Other Liabilities Principal Repayment $0 $0 $0Long-term Liabilities Principal Repayment $275,000 $275,000 $275,000Purchase Other Current Assets $0 $0 $0Purchase Long-term Assets $0 $0 $0Dividends $0 $0 $0Subtotal Cash Spent $7,489,496 $8,140,644 $8,532,012Net Cash Flow $713,707 $464,266 $495,649Cash Balance $963,707 $1,427,973 $1,923,6227.4 Projected Profit and Loss [back to top]The chart and table below projects the yearly profit and loss for the company. For a monthly breakdown, please see the appendices following the plan.Pro Forma Profit and Loss2001 2002 2003Sales $8,203,203 $8,604,910 $9,027,661Direct Costs of Goods $6,063,555 $6,366,533 $6,684,784Other $0 $0 $0 Cost of Goods Sold $6,063,555 $6,366,533 $6,684,784Gross Margin $2,139,648 $2,238,377 $2,342,878Gross Margin % 26.08% 26.01% 25.95%Expenses:Payroll $481,672 $481,672 $481,672Sales and Marketing and Other Expenses $220,800 $278,800 $378,800Deprecia tion $30,000 $30,000 $30,000Leased Equipment $49,800 $49,800 $49,800Utilities $49,200 $49,200 $49,200Insurance $91,800 $91,800 $91,800Rent $24,000 $30,000 $34,000Payroll Taxes $72,251 $72,251 $72,251Other $0 $0 $0 Total Operating Expenses $1,019,523 $1,083,523 $1,187,523Profit Before Interest and Taxes $1,120,125 $1,154,854 $1,155,355Interest Expense $235,104 $208,750 $181,250Taxes Incurred $224,890 $236,526 $247,585Net Profit $660,131 $709,578 $726,520Net Profit/Sales 8.05% 8.25% 8.05%Profit MonthlyClick to Enlarge7.5 Business Ratios [back to top]The table below outlines industry profile statistics for the gas and service station industry, as determined by the Standard Industry Classification (SIC) Index code 5541, Gasoline Service Stations. These statistics show a comparison of the industry standards and key ratios for this plan.Ratio Analysis2001 2002 2003 Industry ProfileSales Growth 0.00% 4.90% 4.91% 10.80%Percent of Total AssetsAccounts Receivable 0.00% 0.00% 0.00% 10.60%Inve ntory 8.91% 8.08% 7.40% 13.30%Other Current Assets 1.76% 1.52% 1.33% 25.60%Total Current Assets 44.65% 53.10% 59.86% 49.50%Long-term Assets 55.35% 46.90% 40.14% 50.50%Total Assets 100.00% 100.00% 100.00% 100.00%Current Liabilities 17.14% 15.18% 13.98% 31.60%Long-term Liabilities 78.45% 59.39% 44.52% 23.10%Total Liabilities 95.59% 74.58% 58.50% 54.70%Net Worth 4.41% 25.42% 41.50% 45.30%Percent of SalesSales 100.00% 100.00% 100.00% 100.00%Gross Margin 26.08% 26.01% 25.95% 16.50%Selling, General Administrative Expenses 17.99% 17.77% 17.86% 10.40%Advertising Expenses 2.34% 2.32% 2.77% 0.20%Profit Before Interest and Taxes 13.65% 13.42% 12.80% 0.50%Main RatiosCurrent 2.60 3.50 4.28 1.55Quick 2.08 2.96 3.75 0.91Total Debt to Total Assets 95.59% 74.58% 58.50% 54.70%Pre-tax Return on Net Worth 707.28% 113.35% 62.39% 2.50%Pre-tax Return on Assets 31.20% 28.82% 25.89% 5.50%Additional Ratios 2001 2002 2003Net Profit Margin 8.05% 8.25% 8.05% n.aReturn on Equity 527.55% 85.01% 46.54% n.aActivit y RatiosAccounts Receivable Turnover 0.00 0.00 0.00 n.aCollection Days 0 0 0 n.aInventory Turnover 24.00 24.58 24.59 n.aAccounts Payable Turnover 14.37 14.33 14.28 n.aPayment Days 24 25 25 n.aTotal Asset Turnover 2.89 2.62 2.40 n.aDebt RatiosDebt to Net Worth 21.67 2.93 1.41 n.aCurrent Liab. to Liab. 0.18 0.20 0.24 n.aLiquidity RatiosNet Working Capital $780,131 $1,244,709 $1,726,229 n.aInterest Coverage 4.76 5.53 6.37 n.aAdditional RatiosAssets to Sales 0.35 0.38 0.42 n.aCurrent Debt/Total Assets 17% 15% 14% n.aAcid Test 2.08 2.96 3.75 n.aSales/Net Worth 65.56 10.31 5.78 n.aDividend Payout 0.00 0.00 0.00 n.a

Business Environment of Reed Elsevier

Business Environment of Reed Elsevier The following report details the findings of our research carried out on the business environment of Reed Elsevier PLC. We have incorporated strategy analysis tools such as SWOT, Porters 5 Forces Framework and Financial Analysis to aid us in analyzing all the relevant internal and external factors that play important roles in shaping Reed Elsevier’s business environment. 1.1 Introduction Reed Elsevier is a leading provider of professional research information to organizations around the world. It publishes journals, books and databases and manages exhibitions and events. Its well-known titles such as New Scientist and The Lancet – appear both in print and online. Reed Elsevier has a worldwide customer base working in many fields, including science, research and the law, as well as in public and academic libraries and commercial organizations. This includes around 11 million scientists who access information direct from Reed Elsevier’s ScienceDirect database, whi ch is the world’s largest online library of full-text research papers. Reed Elsevier was formed in 1993 when the businesses of the British Publisher Reed International and the Dutch publisher Elsevier NV merged. The company now operates in more than 200 locations worldwide with annual revenues for 2010 being  £6 billon. To enable the business to focus on specific customer needs, the company has five divisions. They are Elsevier, LexisNexis Risk Solutions, LexisNexis Legal & Professional, Reed Exhibitions and Reed Business Information. 1.1.1 Elsevier Elsevier is the world’s leading provider of scientific and medical information and serves scientists, health professionals and students worldwide. It annually produces over 200,000 new research articles in over 1,100 journals every year, with ScienceDirect, its flagship electronic solution accessed by over 11 million users. Elsevier’s contribution to the total revenue of Reed Elsevier for the year 2010 amounts to 3 4% while it is accountable for 46% of the group’s total operating profit as shown in the pie charts below. 1.1.2 LexisNexis Risk Solutions LexisNexis Risk Solutions provides data and analytics to enable its customers to evaluate and manage risks associated with transactions and improve performance. It is also a leading provider of work flow solutions that combine proprietary, public and third party information, analytics and advanced technology. These solutions assist customers in evaluation, predicting and managing risk and improving operational effectiveness, predominantly in the US. Its contribution to total revenue is 15% while it accounts for 23% of the groups operating profit during the last financial year. 1.1.3 LexisNexis Legal & Professional This division is charged with providing content and information solutions for the legal and other corporate markets with a customer base in over 100 countries. LexisNexis Legal & Professional provides resources and services that inform decisions and increase productivity within organizations. For the year ended 31 December 2010, this division contributed 28% towards the group’s revenue while its contribution towards operating profit was 15%. 1.1.4 Reed Exhibitions Reed exhibitions contributed 11% and 10% towards group revenue and operating profit respectively during the year 2010 and was responsible for the staging of over 460 events in 36 countries which brought together over seven million active participants worldwide in 2010. 1.1.5 Reed Business Information Reed Business Information provides business information, online data and marketing solutions. Through industry critical data services, lead generation tools, over 200 community and job sites and more than 200 premier business magazines, Reed Business Information provides valued information to professionals and an effective channel for advertisers. It was responsible for 12% of group revenue in 2010 and 6% of the groups operating profit.

Genealogy of Morality By Friedrich Nietzsche Essay

Genealogy of Morality By Friedrich Nietzsche - Essay Example This following quotes further supports my opinion: â€Å" ‘pure one’ is†¦merely a man who washes himself, who forbids himself certain foods that produce skin ailments, who does not sleep with the dirty women of the lower strata, who has an aversion to blood† 4, â€Å"†¦the concept ‘good’ is essentially identical with the concept ‘useful’† 2 â€Å"...they designate themselves simply by their superiority in power or by the most clearly visible signs of this superiority†3 . With how â€Å"useful† politicians had been to the society, the public undoubtedly sees them as good people and their well-painted reputations have earned them the label of â€Å"pure one†. All these vested superiorities, will earn them more supremacy and help them continue with their propaganda and declare themselves as the â€Å"good† people. An equivalence is provided by the creditor's receiving, in place of a literal compen sation for an injury, a recompense in the form of a kind of pleasure—the pleasure of being allowed to vent his power freely upon one who is powerless, the voluptuous pleasure of doing evil for the pleasure of doing it.. the enjoyment of violation 5.I do not believe that having someone who owes you something wins you any right to vent power over that person. Violation can never be justified by the pleasure a creditor gets from taking advantage or venting power over someone, particularly the debtor. Any form of abuse over someone should never be tolerated. The debtor is obliged to pay but it does entail having to take in any form of physical harm. First of all, it is going to be a violation of human rights. Although the next quote is applicable to some societies, there are certain human laws that defy the author's idea and, in opposition, vie to protect human rights in other communities: In "punishing" the debtor, the creditor participates in a right of the masters: at last he, too, may experience for once the exalted sensation of being allowed to despise and mistreat someone as "beneath him" or at least, if the actual power and administration of punishment has already passed to the "authorities," to see him despised and mistreated. The compensation, then, consists in a warrant for and title to cruelty 5. It was here, too, that that uncanny intertwining of the ideas "guilt and suffering" was first effected-and by now they may well be inseparable 6. With this inseparability, the incorrectness, if not immorality, of using pleasure as a justification for violating someone becomes even more visible and disagreeable. It was never proper to hurt anyone. Even statements like the following coul d raise eyebrows. On the contrary, let me declare expressly that in the days when mankind was not yet ashamed of its cruelty, life on earth was more cheerful than it is now that pessimists exist. 7

Is Disability a Medical or Social Concern Essay

Is Disability a Medical or Social Concern - Essay Example Mental health problems have been around us as long as there has been a acceptance of mental health discrepancies. In the modern world, many of the stigmas and social problems connected with mental health concerns have been overcome by the people but still a lot remains to be done before we can arrive at a position where there is no social stigma associated with mental disabilities (Fernando, 1995). In fact, whilst it would be logical to assume that stigmatisation and the social issues are limited to the general population, in reality the stigmatisation can also be observed amongst doctors, nurses and social workers who are not supposed to be have such issues.Such as case was noted by Happell where one of the mentally disabled individuals she was working with received a negative remark from an official. She says that, â€Å"The remark, which was made in an official capacity, questioned, perhaps even refuted, one of the most basic human rights for people diagnosed with a mental illnes s (Happell, 2005, Pg. 1)†. The remark came from someone in an official capacity which goes to show that negative stereotypes and stigmatization of those with mental disabilities continues despite laws made to protect them.The reasons why disabilities issues are a social concern are quit complex since there a number of influences which make them so. It is certainly a matter of concern that despite of the progress we have made, there are still problems that remain when it comes to dealing with cases where individuals have disability problems.

Global Fashion Industry with a Focus on Moet Hennessy Louis Vuitton Essay

Global Fashion Industry with a Focus on Moet Hennessy Louis Vuitton - Essay Example The essay "Global Fashion Industry with a Focus on Moet Hennessy Louis Vuitton" examines the industry of fashion. The company owns over sixty brands and some of them, like Veuve Clicquot Ponsardin (1772), Chateau d'Yquem (1593), , Guerlain in 1829, Louis Vuitton (1854), Hennessy (1765), Moà «t et Chandon (1743) the have been in the market since the past two centuries (McCrone, 2006). It operates 5 different category of products including wines and spirits, fashion and leather goods, perfumes and cosmetics, watches and jewelry, and selective retailing. LV had been following a strategy of innovation, differentiation and strategic mergers to become a market leader in the fashion industry (Lent, Tour and Perrin, 2009). The company offers exclusivity and high quality and is driven by the motto of attention to detail to deliver the best quality. It follows a policy of developing a brand image that is shared across its brands and supported by all the activities undertaken by the company. T his report contains an analysis of the macro environment (using PESTEL framework) for the global fashion industry to assess the threats and opportunities that an organization like LV may face. It also contains a micro analysis or industry analysis of the fashion industry to evaluate the business environment and the challenges that LV faces. Finally, an internal strength and weakness analysis is conducted to assess how the strengths of LV can be used to capture the opportunities proffered by the macro and the micro environment., and what it needs to do to overcome its weaknesses in order to combat the threats posed by its business environment.   Finally, the report discusses the current strategy of LV in the light of the SWOT analysis and makes appropriate recommendations.    PESTEL Analysis    Political Environment The fashion industry has seen a revolution in terms of its penetration and reach across the diverse cultures and markets globally (Kapferer and Bastien, 2009). The advent of globalization and liberalization of economies across the world have made it possible for products from one end of the globe to be displayed and bought at the other end. The fashion industry too has seen a rapid proliferation across the borders owing to the political liberalization and increased acceptance of the Western lifestyle by the growing middle class in the developing countries (Kotler and Keller, 2011). The political liberalization on one hand has made it possible for brands like LV to be sold across diverse regions like China, India, Brazil and Africa, while on the other hand there has been an increased political activism at the grassroots level in several countries against high fashion and the trend of consumerism (British Standards Institution, 2011). Foreign brands, especially the luxury brands are often the target of censure and attacks in countries where movements are under way or where there is widespread resistance to liberalization. It can be seen that whi le there is scope for international expansion, there is also a need to understand the local sentiments and culture so that the brands can become acceptable and likable internationally.    Economic Environment The recent financial crisis of 2008-2009 saw the fashion industry too see a slow down in sales and business. Large and popular organizations like the Australian Hrringbone and Centro have posted large losses during the crisis period. In addition to loss of revenues, there was also a potent impact on the trends in the fashion –

Article Analysis Report (Macroeconomics) Essay Example | Topics and Well Written Essays - 2000 words

Article Analysis Report (Macroeconomics) - Essay Example The world economic situation is apparently under deep scrutiny owing to its frequent fluctuations and rapid alterations which has left multiple countries, irrespective of their global presence as a developing or a developed economy, unstable. It is in this context that fluctuations in the global economic environment also lead to fluctuations in the national contexts of various economies including the US, one of the leading and large economies. Owing to the current economic conditions of the US, Denham (2012) pointed that a larger proportion of funds have been allocated to the public sector of the economy which has left private sector with average funds that might prove insufficient in the future due to international competitions and altering demographic features. Denham (2012) also noted that as the economy intends to massively increase its tax rates, US is likely to witness the challenge of ‘fiscal cliff’ in the near future. In the international context, EU being a larg e contributor to the global Gross Domestic Product (GDP) and therefore operate partially as a world economic power house, may also impose an inevitable impact upon the economic stability of the US owing to the currently witnessed Euro Zone debt crisis. Additionally, poor oil market and export-import industrial performances, US is also quite likely to face the issue of fiscal deficit in the preceding years (Denham, 2012). In the words of Denham (201), â€Å"it seems the fiscal cliff saga is the main focus topic and the rest has little influence†. However, as stated by Denham (2012), ‘fiscal cliff’ is not the only economic challenge that attracts attention with concern to the US economic stability from the global sphere. Furthermore, as stated by Moore (2012), such measures can again lead to a double-dip crisis situation. Indeed, the issues noted by Denham (2012) are noteworthy to ensure economic stability in the US from a future perspective. Nevertheless, agreeing with the issues noted by Denham (2012), Newman (2012) stated that apart from the alleged ‘