Free Essays on Rhetoric Of Richard II

In Act Two, Scene Three of Richard II, the audience gets a glimpse of Bolingbroke’s slow rise to power, which ultimately reaches its culmination when Richard II is deposed and he becomes king. As the characters followers realize the potential deposition of King Richard II, they begin to flatter Bolingbroke in hopes of rewards for their allegiance to him. Playwright William Shakespeare uses the pace and repetition of language in order to highlight comical exchanges of sycophancy used in dialogue with Bolingbroke. We shall see that Bolingbroke directly recognizes and expresses gratitude to Harry Percy, the only character that speaks honestly and without superficial compliments. The initial exchange between Bolingbroke and Northumberland at the beginning of the scene reveals Northumberland’s desire for acceptance and in hopes of acquiring money if Bolingbroke becomes king. The following presents Northumberland responding to Bolingbroke’s brief question with an answer along with an extensive, unnecessary speech of praise: BOLINGBROKE: How far is it, my lord to Berkeley now? NORTHUMBERLAND: Believe me, noble lord, I am a stranger here in Gloucestershire. These high wild hills and rough uneven ways Draws out our miles and makes them wearisome. And yet you fair discourse hath been as sugar, Making the hard way sweet and delectable. But I bethink me what a weary way From Ravenspurgh to Cotshall will be found In Ross and Willoughby, wanting your company, Which, I protest, hath very much beguiled The tediousness and process of my travel. But theirs is sweetened with the hope to have The present benefit which I possess, And hope to joy is little less in joy Than hope enjoyed. By this weary lords Shall make their way seem short as mine hath done By sight of what I have, your noble company. (II.iii.1-18) Notice the contrast between Bolingbroke’s question and Northumberland’s a... Free Essays on Rhetoric Of Richard II Free Essays on Rhetoric Of Richard II In Act Two, Scene Three of Richard II, the audience gets a glimpse of Bolingbroke’s slow rise to power, which ultimately reaches its culmination when Richard II is deposed and he becomes king. As the characters followers realize the potential deposition of King Richard II, they begin to flatter Bolingbroke in hopes of rewards for their allegiance to him. Playwright William Shakespeare uses the pace and repetition of language in order to highlight comical exchanges of sycophancy used in dialogue with Bolingbroke. We shall see that Bolingbroke directly recognizes and expresses gratitude to Harry Percy, the only character that speaks honestly and without superficial compliments. The initial exchange between Bolingbroke and Northumberland at the beginning of the scene reveals Northumberland’s desire for acceptance and in hopes of acquiring money if Bolingbroke becomes king. The following presents Northumberland responding to Bolingbroke’s brief question with an answer along with an extensive, unnecessary speech of praise: BOLINGBROKE: How far is it, my lord to Berkeley now? NORTHUMBERLAND: Believe me, noble lord, I am a stranger here in Gloucestershire. These high wild hills and rough uneven ways Draws out our miles and makes them wearisome. And yet you fair discourse hath been as sugar, Making the hard way sweet and delectable. But I bethink me what a weary way From Ravenspurgh to Cotshall will be found In Ross and Willoughby, wanting your company, Which, I protest, hath very much beguiled The tediousness and process of my travel. But theirs is sweetened with the hope to have The present benefit which I possess, And hope to joy is little less in joy Than hope enjoyed. By this weary lords Shall make their way seem short as mine hath done By sight of what I have, your noble company. (II.iii.1-18) Notice the contrast between Bolingbroke’s question and Northumberland’s a...

Top 7 Cliché Ideas You Should Avoid Including into Your Leadership Essay

Top 7 Clichà © Ideas You Should Avoid Including into Your Leadership Essay Top 7 Clichà © Ideas You Should Avoid Including into Your Leadership Essay Let’s face it: the majority of people hate clichà ©s. Yes, there are some individuals who like them because clichà ©s are their comfort zone. But we doubt that your professor whom you need to write an essay falls under this category. If you wish to avoid stereotypes notions, you need to avoid them not only in your style of writing but at the level of the topic as well. While writing a leadership essay, you need to come up with original ideas. We know it’s hard because this issue has been popular for at least 5000 years, but it’s not impossible. To help you with this â€Å"uphill struggle†, we’ve put down a list of top leadership clichà ©s that you should avoid at all costs. If you follow our advice, you will make your writing more interesting and profound! 1. ThÐ µre Are No Stupid QuÐ µstions Yes, there are. In fact, there are loads of them, and you perfectly understand that. If you want to write a good leadership essay, it’s better to promote the idea that a true leader has to identify and prevent stupid questions. If they still happen, it’s best to highlight and explain why they are silly (of course in the right manner). 2. The CustÐ ¾mer Is Ð lways Right If you have ever worked part-time in a customer support field, you’ll know that it’s not true. For a good leadership, it’s important sometimes to stand the ground of your employee in front of a client. 3. Give It Your Best Shot And what is this supposed to mean? Go and shoot something or somebody? A real leader must explain what expectations he/she has without scattering vague phrases. There are also other word combinations that fall into this category like â€Å"do your best†, â€Å"go above and beyond†, etc. 4. Don’t Bother Me until You Have a Solution This is another clichà © that makes people flinch when they hear something similar from their bosses. If a subordinate comes with a problem to the senior, the latter must sit and puzzle out the issue to understand whether there is a solution in the first place. 5. Think outside the Box And work outside the office. And eat outside the canteen. This is a threadbare motivational phrase that stopped inspiring people years ago. So, why do leaders still use it? 6. Appreciate Every Opinion Someone who is in charge should be able to see valuable opinions and mark them out for others to appreciate. It’s a skill that is hard to hone, and, besides, it’s always easier to say that a true leader must take into account all points of view. 7. Failure Is Not an Option Among many mottos of Jimmy Wales, the founder of Wikipedia, there is a phrase â€Å"Fail faster†. He has even a whole theory that failures lead to success and it doesn’t correspond with one of the main leadership clichà ©s. So, do you think you should mention it in your essay? Avoid these stereotypes to prevent your professor from doing a facepalm and add more interesting ideas that really work nowadays. We wish you good luck with that! At company you can pay for essay writing online. Our experts have great writing skills to handle your leadership assignment.

Boundary Line Placement Assignment Example | Topics and Well Written Essays - 750 words

Boundary Line Placement - Assignment Example They purchased them and erected their structures. Each one of them tries to engulf their habitats and make their residential areas and environments as conducive as possible ( Adier 2001).. At that moment, there erupts a conflict on the line of separation between them calling for the need of the judiciary to intervene and save the innocent while prosecuting the guilty. The dispute came because of the railroads that Levy put to mark the boundary between him and the neighbors. He was oblivious of the exact location of the boundary but rather assumed that it was at a point within the vicinity of the cranberry garden that at first had bushes that dried. Marjory however believes that the cranberry garden marked the boundary between the families, as it was the common point shared by them (Adier 2000). Ms Tucker has also resided in there for a long time and the only transition that has taken place is that the plaintiffs were paved and this affected neither the location nor the size. The plaintiffs’ evidence is that apparently because of a dispute over whether the defendant’s tenant had farmed over the line and onto the plaintiffs’ lawn in an area north of the area in question, there was a falling out between the parties. As a result, the plaintiffs’ evidence is that in 2005, the defendant had the property surveyed and as a result, the surveyor put a stake in the pavement of the plaintiffs’ driveway( slossberg 2007). In deep consideration, the defendants never took part in any farming and they even do not reside within the area in question. I would therefore prefer to say that they be excluded from the case and the affected individuals to vindicate their truths. Again, they both seem innocent because they both purchased so it is the original owner who ought to have given them the true information; relating to the boundary ( Kiser 2011).. The boundary line between the two properties should follow the investigated and surveyed boundary line, which runs from

Sensory Discrimination Essay Example | Topics and Well Written Essays - 4000 words

Sensory Discrimination - Essay Example e has no sensory discrimination H1; Steve has sensory discrimination Method In this experiment, we utilize simple counts such as how many pieces of pizza were classified by the subject. The results were summarized in a 2 by 2 contingency table as shown below. The four numbers are a, b, c, and d, which are entered in the cells of the table according to the four categories. The total number of pieces of pizza which the subject can classify as Dominos Meatzza Feast or Pizza Hut Meat Lover’s pizza is: n= a + b + c + d From the table below we see that a total of a + c pieces of pizza were guessed correctly while b + d pieces of pizza were guessed incorrectly. If the subject cannot distinguish between Dominos Meatzza Feast and Pizza Hut Meat Lover’s pizza then a and c should be small. Conversely, if the subject can tell the difference between the two pizzas, we expect a and c to be about the same. (Weaver, 2008) Â   Guessed correctly Guessed incorrectly Total Dominos Meatzza Feast a b a + b Pizza Hut Meat Lover’s pizza c d c + d Totals a + c b + d a + b + c + d (=n) According to Fisher the probability of obtaining the values base above is given by the hyper geometric distribution below: (Deborah, 2000) The p-value is calculated in such a way that the margins of the table are fixed and, therefore, the respondant will give guesses with correct numbers in each category of the table. This leads to a null hypothesis of independence to a hyper geometric distribution of the entries in the cells of the contingency table. When using the chi square in the analysis, the approximation is not enough when sample sizes are small or if the data is very unequally distributed in the cells of the table. Therefore the cell counts have been predicted to be low. (Agresti, 2001) In this... The p-value is calculated in such a way that the margins of the table are fixed and, therefore, the respondent will give guesses with correct numbers in each category of the table. This leads to a null hypothesis of independence to a hypergeometric distribution of the entries in the cells of the contingency table. When using the chi-square in the analysis, the approximation is not enough when sample sizes are small or if the data is very unequally distributed in the cells of the table. Therefore the cell counts have been predicted to be low.18 pieces of pizza were prepared--9 pieces of Dominos Meatzza Feast and 9 pieces of Pizza Hut Meat Lover’s pizza. The pieces of pizza were presented to the respondent in a random order. The respondent’s task is to identify the 9 pieces of Dominos Meatzza Feast and the 9 pieces of Pizza Hut Meat Lover’s pizza, and he is informed of the design.ParticipantsThe participant in this study was Steve David. He claims to be able to tel l the difference between Dominos Meatzza Feast and Pizza Hut Meat Lover’s pizza since he runs a pizza store, and thus qualifies as an expert on the subject.The Fisher test is used with respect to the contingency table results. In this case, the test assesses what the expected frequencies will be if the null hypothesis is true. If there is no difference between Dominos Meatzza Feast and Pizza Hut Meat Lover’s pizza guesses, one would expect that Dominos Meatzza Feast would have been guessed correctly six times.

Teachings of Quran Essay Example for Free

Teachings of Quran Essay The Quran does not emphasize the invisible dimensions of existence (God, angels, jinn) at the expense of neglecting the visible (the natural world). In numerous instances, the Quran refers to natural aspects of this life as signs of God, calling mankind to ponder on natural phenomena such as the wind, rain, vegetation and alteration of the night and the day (Amir Abbas Zamani, 2001). Muslims believe in both a material and a supernatural world. Therefore, the Muslims use a great deal of astronomy, geometry and metaphysical concepts in architecture. The Quran says: â€Å"Such as remember Allah, standing, sitting and reclining, and consider the creation of the heavens and the earth, (and says): Our Lord! Though createst not this in vain (3:191) (Petruccioli, 2002). These structures carry body and soul. The body were designed using sacred geometry, and the soul were created with the help of light, ventilation, sound effects, landscape, color, texture and symbolism used in both the interior and exterior. â€Å"The first being created by God was light. † (Petruccioli, 2002) Islamic architecture makes full use of light and shade, and the heat and coolness of the wind and its aerodynamics, of water and its cooling effect, of the earth and its insulating features as well as properties of the elements. The Muslim’s firm believe in paradise is based on the teaching of the Quran, which says, â€Å"And those who believe and do good works such are rightful owners of the Garden. They will abide therein† (2:82) (Petruccioli 2002). The detailed description of the garden of paradise is given in Sura â€Å"the Beneficent† (55:46-78). Therefore, landscape features become an integral part of site planning and architecture. The buildings are set in the landscape deliberately so that one can find himself in an idealized paradise-like environment. The buildings not only humanize the landscape but stand there in all simplicity of form and witness the divine (Attilio Petruccioli, 2002). Truly, Islamic art is an expression of beauty, a demonstration of divinity and a treasure preserved through time; Allah’s gift not just to His beloved devotees but also to the world. Reference: Amir Abbas Zamani, S. S. (2001). What is Islam? : Alhoda UK. Attilio Petruccioli, K. P. (2002). Understanding Islamic Architecture: Routledge. Glasse, C. (2001). The New Encyclopedia of Islam: Rowman Altamira. Grabar, O. (2006). Constructing the Study of Islamic Art: Ashgate Publishing, Ltd. Janin, H. (2005). The Pursuit of Learning In The Islamic World, 610-2003: McFarland and Company. Oweis, F. (2002). The Elements of Unity in Islamic Art as Examined Through the Work of Jamal Badran: Universal-Publishers. com. Penney, S. (1995). Islam: Harcourt Heinemann. Ulrik Volgsten, S. B. (2006). Music And Manipulation: On the Social Uses And Social Control of Music: Berghahn Books. Waines, D. (2003). An Introduction to Islam (second ed. ): Cambridge University Press.

Comparing Carbohydrate Requirements for the Atkins Diet and the Food Py

Comparing Carbohydrate Requirements for the Atkins Diet and the Food Pyramid Guide â€Å"Carbohydrates are an organic compound that serves as a major energy source for the body† (Dictionary.com). These carbohydrates convert to sugars that trigger insulin production, which our body needs for certain processes, and triggers fat storage (Health-Doc.com). According to the Institute of Medicine, adults should get 45 to 65 percent of their calories from carbohydrates. That is roughly seven servings based on a 2000 calorie diet. At least one of the two carbohydrate diet plans states something different. The Atkins diet requires a limited amount of carbohydrates for consumption while the Food Pyramid Guide developed by USDA and supported by the Department of Health and Human Services allows for many more servings. The Atkins diet requires that in the first two weeks of the diet you eat no more than twenty grams of carbohydrates a day. Twenty grams of carbohydrates a day is the equivalent of one slice of bread or one serving of carbohydrates a day. Afte...

Ensure Justice and Equity Essay

On the one hand, fixed punishment will have a deterring effect on society. â€â€"Individuals knowing that they will be subject to a certain punishment if they are convicted with a given crime will reconsider committing this act in the first place. â€â€"This deterring effect also leads to social stability and security, through minimizing the number of crimes committed. â€â€"If people knew they would be able to convince the court or the jury of reason for having committed the crime they are accused of, penal decisions would be largely arbitrary. This would result into criminals getting away with their crimes and into a high level of injustice caused by the subjective approach of different courts。 In my opinion an intermediary position between both solutions is the perfect way to establish and ensure justice and equity. There have to be fixed punishment for all crimes. However, criminal laws have to provide for a minimum and maximum for the punishment and the laws also have to foresee certain cases of exemptions. An example for setting minimum and maximum penalties is Competition Law where a person being held liable of a crime under this law will be convicted to pay a fine, according to the harm caused by the violation and the profit gained by the violator through committing the crime. As for the exemptions, in some countries the law exempts thieves stealing food during a period of famine taking into consideration the distress and hunger. Also, a person killing in self-defense will be exempted from punishment.

Capsim Report

I. Executive Summary Erie Corporation has been founded in 2011 with the mission is to provide both reliable products for low-technology customers including Traditional and Low End segments; and premium- technology oriented customers including High End, Performance and Size segments. This business plan is written so as to provide the board of directors a detailed picture about the company’s strategies as well as the direction how we can implement these strategies. The plan consists of three parts. The first part is about the corporate objectives and strategy. In detail, at the end of year three, Erie aims to be one of the two leading companies in the market with a net profit of $10,000,000 and 25% of market shares of the whole industry. In addition, the company’s management expects to gain at least 30% of contribution margin for each product, to reduce 60% to 70% of total labor costs and 11. 8% of total material costs. Erie’s strategies are niche cost leadership and niche differentiation. In particular, while products in Traditional and Low End are oriented to operate under the niche cost leader, products in three remaining segments including High End, Performance and Size are aimed to follow the niche differentiator strategy. This is because while price is the most considerable criterion of customers in Traditional and Low End segments, this does not matter to the other three segments’ consumers as long as the products offered are premium-technology. To implement this strategy effectively, Erie should operate under the direction like this, besides revising products to meet customers’ expectation; the company set up a relatively low price for products in Traditional and Low End segments and vice versa for products in the three remaining segments. Simultaneously, the company will invest on capacity and automation gradually for all segments. This will bring to Erie a competitive advantage over other competitors in terms of long-term cost savings. In addition, maximum second shift capacity may be run as much as possible and a significant amount of money will also be spent on promotion and sales budgets so as to capture the highest possible percentage of market shares. Furthermore, Erie is willing to make losses at least in the first two years because in the remaining years of the simulation, when higher capacity and automation are ready as well as Human Resources and Total Quality Management functions are applied, Erie will become more competitive in the market and hence can make profit as the production costs will be minimized. Secondly, specific objectives, key performance indicators and strategy which are followed strictly the corporate objectives of all departments including R&D, Marketing, Production, Human Resources and Total Quality Management will be also set out. Finally, a back-up plan which might be utilized when there is trouble in the operation of the company’s products is also prepared. Under this plan, the failed product will be remained for two years instead of stopping its operation immediately so as to sell its remaining inventory and wait for the new product to be finished and could be sold to the market. Table of Contents Executive Summary 1 Introduction 4 Corporation Objectives & Strategies 4 1. Corporation Objectives 4 2. Corporation Strategies. 4 R&D Department 5 1. Objectives 5 2. KPIs. 5 3. Strategies. 5 Marketing Department 6 1. Objectives 6 2. KPIs. 6 3. Strategies. 7 Production Department 8 1. Objectives 8 2. KPIs & Strategies. 8 3. Strategies. 9 Human Resource Department 10 1. Objectives 10 2. KPIs & Strategies. 10 TQM Department 11 1. Objectives 11 2. KPIs & Strategies. 11 Finance Department 12 1. Objectives 12 2. KPIs & Strategies. 2 3. Strategies. 12 Back-up Plan 13 Conclusion 14 Reference 14 Appendix 15 II. Introduction Sensor industry is more likely an oligopoly because the products are high technological including cameras, biometric devices and labs-on-a-chip. In addition, there are only six firms dominating the market and the total demand for the whole industry remains stable which means that new firms cannot enter into the market. Furthermore, year after year, while customers’ expectations are becoming higher and higher, the products are getting older and price ranges are stricter. This indicates such a challenge for all companies in the market. A critical successful factor which can assist all companies to overcome this difficulty is that each company should choose an appropriate strategy to follow so as to succeed and become more competitive in the market. Recognizing this fact, Erie has chosen two strategies including niche cost leadership and niche differentiation that are appropriate for each types of segments. In this business plan, these strategies will be examined in depth and detailed actions of all Erie’s departments which are followed these strategies are also sketched out. III. Corporation Objectives and Strategies 1. Corporation Objectives By the end of year 3, Erie will: * Be one of the two leading companies in the sensor industry * Achieve net profit of $10,000,000 * Obtain at least 25% of market shares of the whole industry * Gain at least 30% of Contribution Margin for each product * Reduce at least 70% of the total labor costs and 11. 8% of total material costs 2. Corporation Strategies According to customers’ buying criteria of Traditional and Low End segments, prices are deemed to be the most considerable factor. In fact, respectively, the price ranges of Traditional and Low End take up approximately 23% and 53% over other criteria such as position and reliability. In other words, customers are willing to purchase low-tech products as long as their prices are relatively low. As a result, Niche Cost Leadership seems to be the most appropriate strategy for these two segments. On the other hand, prices are the most insignificant buying criterion in High End, Performance and Size segments. No matter how high the prices are, customers in these segments are more preferable to high-tech product. In particular, for the High End and Size segments, ideal position occupies 43% and products’ ideal age is 29%. Furthermore, reliability is the most important consideration to customers in Performance segment. Hence, Niche Differentiation is a proper alternative for these three segments. IV. R&D Department 1. Objectives * Meet customers’ expectations in all segments * Control R&D budgets for products in Traditional and Low End segments as low as possible * Continuously update products’ positions for High End, Performance and Size segments every year . KPIs * Keep R&D costs for in Traditional and Low End segments maximum at $1,000,000 * Invest minimum $1,500,000 for revising products in High End, Performance and Size segments 3. Strategies a. Traditional and Low End segments For these two segments, Erie decides to invest slightly and annually in performance and size while decrease the mean time before failure (MTBF) of products in year 1. After that, MTBF will be r emained stable during the first three years. | EAT| EBB| | Year 1| Year 2| Year 3| Year 1| Year 2| Year 3| Performance| 5. 7| 6. 4| 7. 1| 3| 3| 3. 2| Size| 14. 3| 13. 6| 12. 9| 17| 17| 16. 8| MTBF| 16000| 16000| 16000| 14000| 14000| 14000| Table 1: R&D investment for Traditional & Low End segment for the first three years b. High End, Performance and Size segments So as for customers to perceive the differentiation of our products in these three segments, performance, size and MTBF should exactly meet the customers’ expectations. Therefore, Erie decides not to launch the products in the first year. Since second year, when the products appear in the market, they will be revised annually in order to appeal to be younger in customers’ perception | Year 1| Year 2| Year 3| | ECHO| Performance| 8| 9. 8| 10. 7| Size| 12| 10. 2| 9. 3| MTBF| 23000| 24000| 24000| | EDGE| Performance| 9. 4| 11. 4| 12. 4| Size| 15. 5| 14. 6| 13. 9| MTBF| 25000| 27000| 27000| | EGG| Performance| 4| 5| 6. 1| Size| 11| 8. 6| 7. 6| MTBF| 19000| 20000| 20000| Table 2: R&D investment for High End, Performance and Size segment for the first three years V. Marketing Department 1. Objectives * Increase sales of 5 segments by 10% each year Increase demand over 10% each year * Reach above 25% of market shares for Traditional and Low End segments, and above 20% for High End, Performance and Size segments at the end of year 3 * Keep the sales forecast error of 5 segments fluctuate between 5% – 10% during three years 2. KPIs * Keep the price of products of Traditional and Low End segments lower than the av erage price of their price ranges; the ones of High End, Performance and Size higher than the average price * Remain the same prices of all products for the first three years, then slightly decrease all prices from $0. to $1 after year 3 * Maintain customer awareness and accessibility of 5 segments from 95% to 100% * Keep the forecast errors for 5 segments not higher than 200,000 units for Traditional and Low End segments; 50,000 units for High End, Performance and Size segments every year 3. Strategies a. Pricing Strategies * Traditional & Low End In a product life cycle, the introduction stage starts when development is complete and ends when sales indicate that target customers widely accept the products. The marketing strategies are ‘fully implemented during the introduction and should be tightly integrated with the company’s competitive advantages and strategic focus’ (Ferrell & Hartline, p210, 2008). Therefore, during the first three years, in light of cost leadership strategy, Traditional and Low End segments will be followed the penetration pricing approach, which is setting relatively low initial prices, so as to maximize sales, gain widespread market acceptance, and capture large market shares quickly. It means that, in order to comply with the low cost strategy, the prices of the segments are set below the average of their price ranges. In particular, the price of Eat, which dominates Traditional segment, is established at $21. 5 per unit compared to $25 of the average price, whereas the one of Ebb, which takes up majority of sales of Low End segment, is set at $18 compared to $20. (Refer to appendix 1b: Pricing Forecast for further details) This approach is suitable for these two segments because of two main reasons. The first reason is that the segments’ customers are price sensitive since prices outweigh such other elements as ideal position and reliability. The other one is due to the fact that R&D expenses are relatively low as customers do not pay much attention on the segments’ characteristics. * High End, Performance & Size Unlike to Traditional and Low End segments, High End, Performance and Size segments are pursued differentiation strategy; hence, price skimming approach seems to be an appropriate alternative. The rationale behind price skimming is to intentionally set high prices relative to competitors, thereby skimming the profits of the top of the market, recovering the high R&D and marketing expenses associated with developing new products. In other words, the prices of these three segments will be set above the average of price ranges and should be, at least, obtain the contribution margins of 30%. In detail, the prices of Echo, Edge and Egg is respectively set at $39, $34. 5 and $34. 5 for High End, Performance and Size segments compared to the average prices of $35, $30 and $30 of each price ranges. Refer to appendix 1b: Pricing Forecast for further details) b. Promotion and Sales Strategies Percentage of products’ awareness and accessibility, which reflect the number of customers who know the existence of a company’s products, and who can easily interact with the company, are determined respectively by each product’s promotion and sales budgets. In order to in crease demand up to 10%, our company, therefore, initially invests $3,000,000 in promotion budgets during the first two year, and $2,200,000 in sales budget of Eat and Ebb during three years because customer accessibility requires long time investment to achieve 100%. Since year 3, when customer awareness achieves over 100%, the investment in the promotion budgets will be scaled back to $1,500,000. For Echo, Edge and Egg, since they will be launched in the second year, there are only $1,500,000 invested in promotion budgets, and around $1,100,000 to $1,500,000 spent in sales budgets in the first year. However, when they are ready for sales, their promotion budgets will be increased up to $3,000,000, whereas their sales budgets will be invested up to $2,200,000 in the second year so as to encourage customers’ demand. (Refer to appendix 1d: Promotion and Sales Budgets for further details) VI. Production Department 1. Objectives: * Achieve a proper plant utilization * Control production costs effectively 2. KPIs By the end of year three, Production manager aims to: * Keep plant utilization ratio from 90% to 130% to minimize machine downtime cost and expensive 2nd shift charge * Decrease labor costs for all segments by 60% to 70% * Maintain overtime ratio at 0% * Minimize inventory carrying costs at maximum 25% of total production per year 3. Strategies a. Automation Due to the fact that each rate of automation will decrease labor costs by 10%, Erie will increase automation in all segments. Even though the costs of automation are high, this is such a short-term aspect. In long-term, the improvement in automation will bring a greater benefit because costs spent on automation just incurred once while the reduction in labor costs is annual. Therefore, Erie plans to raise automation rating for all segments so as to achieve rate at 7 for Ebb and 6 for all other segments in year 3 as set out in table below: | Year 1| Year 2| Year 3| Eat| +1| -| +1| Ebb| +2| -| -| Echo| +1| -| +2| Edge| +2| -| +1| Egg| +2| -| +1| Table 3: Production investment in automation level for 5segments the first three years b. Capacity Using an efficient amount of capacity can help the company to achieve economic of scale as well as to be consistent with the pricing strategy as set out by Marketing department. Furthermore, in order to satisfy higher demands as well as to follow sales forecasts of Marketing department, production manager plans to buy 600 units for Ebb; 300 units for each of Edge and Egg in year two. After that, in year three, 500 units of capacity will be purchased for Eat and Ebb. This will also help Erie achieve plant utilization ratio objective as mentioned above. | Year 1| Year 2| Year 3| Eat| -| -| 500| Ebb| -| 600| 500| Echo| -| -| -| Edge| -| 300| -| Egg| -| 300| -| Table 4: Production investment in capacity for 5segments the first three years Additionally, in case that there is a restriction for purchasing capacity like limitation in the maximum investment or unexpected increase in sales, second shift of capacity will be utilized as much as possible to maximize sales. At the same time, using second shift workers will also be chosen instead of first shift workers with overtime. The main reason is that while second shift workers are paid the same wage rate of addition 50% as first shift workers work on overtime, second shift ones are more efficient as they are not as tired. Moreover, the employee turnover rate is lower which can help Erie to keep talent workers and reduces future recruiting costs. Relying on second shift workers, Erie will also achieve its goal which is to keep overtime ratio at 0%. VII. HUMAN RESOURCE DEPARTMENT 1. Objectives The department intends to: * Increase Productivity Index by 5% * Lower Turnover Rate to 7. 5% in year 3 2. KPIs and Strategies: Erie plans to invest $4 million for Recruiting Spend and 40 training hours in both year 2 and 3 in order to support Production department reducing labor cost. However, 5% turnover rate is unavoidable annually because of retirement, relocation and weeding out poor workers. | Year 2| Year 3| Recruiting Spend ($000)| $ 4,000| $4,000| Training Hours| 40| 40| Table 4: HR investment in recruiting and training for workers the first three years VIII. TQM DEPARTMENT 1. Objectives By the end of year 3, Erie proposes to: * Reduce material costs by 11. 8%, labor costs by 14% and administrative costs by 60% * Shorten the length of time required for R&D projects to complete by 40% * Increase demand by 14. 4% for the product line 2. KPIs and Strategies For each initiative, Erie is planning to invest $1,500,000 in a 3 year cycle. In particular, in year 3, 4, 6 and 7, $1,500,000 will be invested in each initiative; while in year 5 and 8, there is only $1,000,000 budgeted for each initiative. The firm chooses an investment of $1,500,000 because expenditures beyond $ 4 million over 2 or 3 years in each initiative will lead to the diminishing returns. | Year 3| Year 4| Year 5| | Year 6| Year 7| Year 8| Process Management Budgets| | CPI Systems| $1,500,000| $1,500,000| $1,000,000| Vendor/JIT| $1,500,000| $1,500,000| $1,000,000| Quality Initiative Training| $1,500,000| $1,500,000| $1,000,000| Channel Support Systems| $1,500,000| $1,500,000| $1,000,000| Concurrent Engineering| $1,500,000| $1,500,000| $1,000,000| UNEP Green Programs| $1,500,000| $1,500,000| $1,000,000| | TQM Budgets | | Benchmarking| $1,500,000| $1,500,000| $1,000,000| Quality Function Deployment Effort| $1,500,000| $1,500,000| $1,000,000| CCE/6 Sigma Training| $1,500,000| $1,500,000| $1,000,000| GEMI TQEM Sustainability Initiatives| $1,500,000| $1,500,000| $1,000,000| Table 5: TQM investment in each initiative during 8 years IX. Finance Department 1. Objective By the end of year three: Avoid emergency loan * Achieve the cumulative profit between $15,000,000 to $20,000,000 * Utilize debt in investment effectively 2. KPIS * Maintain the leverage between 1. 8 to 2. 8 * Achieve the ROE ratios between 15% to 25% * Maintain closing cash position at around $12,000,000 to $15,000,000 each year * Maintain working capital day from 30 to 90 days 3. Stra tegies a. Emergency loan: In order to finance the maximum investment in the capacity and automation of the first three years, the highest amount of stocks and bonds will be issued in year 1 and continue to be considered issuing since year 2 in case of cash shortage. In addition, to sustain the loss in the first two years for capturing the market shares, a maximum amount of current debt will be borrowed in the first year. This in turn could avoid a 7. 5% of penalty for the emergency loan. After that, our company will continue to borrow a sufficient amount of current debt with the purpose to maintain our cash position at around 12,000,000 to $15,000,000. Besides, the credit for account receivable is set at 30 days so as to have a sufficient amount of cash to avoid emergency loan. b. Leverage The purpose of maintaining the leverage ratio is not to use too much retain earnings for funding the growth and avoiding a high amount of debt which can lead our company to a financial risk because of a significant amount of interest expense. In order to keep an appropriate leverage ratio, the total amount of debt will only be considered in the worst case. However, if the leverage is too high, the production investment needs to be scaled back. c. Cumulative profit So as to achieve the above expected cumulative profit, firstly, the day of working capital needs concerning and maintaining from 30 to 90 days. This in turn can protect our company from a risky position if problems occur as well as help us achieve a higher productive rate. Secondly, the expenditure for HR and TQM will be carefully calculated. Finally, the account payable policy is set at 30 days which will minimize significantly suppliers’ material withholding. Hence, our company’s profit can be improved in case of stock out because of lacking materials. X. Back-up plan Most companies have to confront with several unexpected and difficult situations during operating period. One of these difficulties could be that some companies might collapse as losing their ability to continue to compete with other competitors in some products. The reason for this would be that they no longer make enough sales to cover costs which lead to a decrease in market shares and an extreme financial loss as well. Therefore, in order to avoid this situation, Erie has developed a back-up plan in case that one of our products suffers serious loss. According to the BCG matrix, it is believed that Traditional and Low End segments might be in the ‘harvest’ stage since year 5. This is because these two segments have dominated a large proportion of market shares. Moreover, their growth rates start to decrease significantly for a long time of being operated in the sensor market. As a result, our company intends to adopt the exiting strategies when these segments begin to make relatively small profits or suffer serious loss. Instead, our company decides to develop and launch a new product which will be followed the differentiation strategy like High End and Performance segment since these segments are just in the ‘hold’ stage at that time, hence can catch up with other competitors’ products. XI. Conclusion In conclusion, relying on the application of such strategy, Erie’s products will be high-recognized in the market as they are revised regularly and efficiently. In addition, through the advantage of an initially significant investment, the company could become more competitive in the market as its production costs are minimized. Furthermore, by accepting a little bit of risky at about the first two years, Erie will gain a competitive advantage over other competitors in terms of long-term cost savings and hence could provide cheaper products and increase sales in later years. XII. Reference * Ferrel. O. C. & Hartline. D. M. 2008, Marketing Strategy 4e, South- Western Cengage Learning, the USA. XIII. Appendix 1. Marketing Forecast a. Sales Forecast | Year 1| Year 2| Year 3| Eat| 2,000,000| 2,200,000| 2,420,000| Ebb| 2,200,000| 2,420,000| 2,665,000| Echo| 430,000| 475,000| 525,000| Edge| 350,000| 385,000| 425,000| Egg| 400,000| 440,000| 485,000| b. Price Forecast | Year 1| Year 2| Year 3| Eat| $ 21. 5| $ 21. 5| $ 21. 5| Ebb| $ 18| $ 18| $ 18| Echo| $ 39| $ 39| $ 39| Edge| $ 34. 5| $ 34. 5| $ 34. 5| Egg| $ 34. 5| $ 34. 5| $ 34. 5| c. Sales Revenue Forecast | Year 1| Year 2| Year 3| Eat| $43,000,000| $47,300,000| $53,030,000| Ebb| $39,600,000| $43,560,000| $47,970,000| Echo| $16,770,000| $18,525,000| $20,475,000| Edge| $12,075,000| $13,282,500| $14,662,500| Egg| $13,800,000| $15,180,000| $16,732,500| d. Promotion & Sales Budgets | Promotion Budget (000)| Sales Budget (000)| | Year 1| Year 2| Year 3| Year 1| Year 2| Year 3| Eat| $3,000| $3,000| $1,500| $2,200| $2,200| $2,200| Ebb| $3,000| $3,000| $1,500| $2,200| $2,200| $2,200| Echo| $1,500| $3,000| $3,000| $1,500| $2,200| $2,200| Edge| $1,500| $3,000| $3,000| $1,100| $2,200| $2,200| Egg| $1,500| $3,000| $3,000| $1,100| $2,200| $2,200| . Production Plan PROUCTION PLAN Year 1 – 2011| | Eat| Ebb| Echo| Edge| Egg| NA| NA| NA| Total| Units sales forecast| 2000| 2200| 430| 350| 400| Â  | Â  | Â  | 5380| Inventory on hand| 189| 39| 40| 78| 62| Â  | Â  | Â  | 408| Production schedule| 1800| 2200| 400| 300| 340| Â  | Â  | Â  | 5040| Production after Adj. | 1782| 2178| 396| 297| 337| Â  | Â  | Â  | 4990 | Margins| Â  | 2nd shift production %| 0%| 57. 10%| 0%| 0%| 0%| Â  | Â  | Â  | Â  | Labour cost/unit| $8. 22 | $8. 26 | $9. 39 | $9. 39 | $9. 39 | Â  | Â  | Â  | Â  | Material cost/unit| $10. 96 | $7. 63 | $15. 53 | $15. 45 | $13. 3 | Â  | Â  | Â  | Â  | Total unit cost| $19. 18 | $15. 89 | $24. 92 | $24. 84 | $22. 62 | Â  | Â  | Â  | Â  | CM| 10. 8%| 11. 7%| 36. 1%| 28. 0%| 34. 4%| Â  | Â  | Â  | Â  | Physical plant| Â  | Total| 1st shift capacity| 1800| 1400| 900| 600| 600| Â  | Â  | Â  | 5300| Buy/sell capacity| –| –| –| –| –| Â  | Â  | Â  | Â  | Automation rating| 4| 5| 3| 3| 3| Â  | Â  | Â  | Â  | New automation rating| 5| 7| 4| 5| 5| Â  | Â  | Â  | Â  | Investment| $7,200 | $11,200 | $3,600 | $4,800 | $4,800 | $0 | $0 | $0 | $31,600 | Workforce| Last year| Needed| This Year| 1st shift| 2nd shift| Overtime| Â  | Max Invest| 32,694 | Completement| 700| 820| 820| 705| 115| 0%| A/P Lags| 30| (days)| 3. Profo rma Financial Statements a. Balance Sheet PROFORMA BALANCE SHEET| ASSETS| | Cash| 28034| Accounts Receivable| 10240| Inventory| 1055| Total Current Assets| 39328| Plant & Equipment| 145400| Accumulated Depreciation| (47626)| Total Fixed Assets| 97774| | Total Assets| 137102| | LIABILITIES & OWNER'S EQUITY| Accounts Payable| 7699| Current Debt| 20341| Long Term Debt| 60694| Total Liabilities| 88734| | Common Stock| 32060| Retained Earnings| 16308| Total Equity| 48368| Total Liabilities and Owner's Equity| 137102| b. Cash Flow Statement PROFORMA CASH FLOW STATEMENT| Cash Flows from Operating Activities| | Net Income (Loss)| (13274)| Adjustment for non-cash items| | | Depreciation & Writeoff| 9693| Change in Current Assets and Liabilities| | | Accounts Payable| 1116| | Inventory| 7562| | Accounts Receivable| (1933)| Net cash from operations| 3165| | Cash Flows From Investing Activities| | Plant Improvements| (31600)| | Cash Flows from Financing Activities| | Dividends Paid| | Sales of Common Stock| 13,700| Purchase of Common Stock| | Cash from long term debt | 18994| Retirement of long term debt| | Change in current debt (net)| 20341| | Net change in cash position| 24600| | Starting cash position| 3,434| Closing cash position| 28034| c. Income Statement PROFORMA INCOME STATEMENT| Product Name| EAT| EBB| ECHO| EDGE| EGG| Total| Sales| 42385| 39600| 16770| 12075| 13757| 124587| | Variable Costs| | Direct Labor| 16227| 18156| 4043| 3284| 3748| 45458| Direct Material| 21632| 16771| 6682| 5403| 5279| 55768| Inventory Carry| 0| 33| 18| 75| 0| 127| Total Variable Costs| 37859| 34960| 10743| 8761| 9028| 101352| | Contribution Margin| 4520| 4640| 6027| 3314| 4729| 23235| | Period Costs| | Depreciation| 3120| 3173| 1320| 1040| 1040| 9693| SG&A: R&D| 269| 0| 1000| 1000| 1000| 3269| Promotions| 3000| 3000| 1500| 1500| 1500| 10500| Sales| 2200| 2200| 1500| 1100| 1100| 8100| Admin| 365| 341| 145| 104| 119| 1074| Total Period Costs| 8955| 8715| 5465| 4744| 4759| 32637| | Net Margin| (4429)| (4075)| 562| (1431)| (29)| (9402)| | Other| 1635| EBIT| (11037)| Interest| 9384| Taxes| (7147)| Profit Sharing| 0| | Net Profit| (13274)| d. Cash Budget CASH BUDGET| | Total| Beginning cash balance| 3,434| Cash from operations| 3,165| Total Available Cash| 6,599| Less:| | Capital expenditures| (31,600)| Interest| (9,384)| Dividends| 0| Debt retirement| 0| Other| (1,635)| Total Disbursements| (42,619)| Cash Balance (Deficit)| (36,020)| Add:| | Short-term loans| 20,341| Long-term loans| 18,994| Capital stock issues| 13,700| Total Additions| 52,035| Ending Cash Balance| 16,015|

How to Meet People in College

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