Socialism :: essays research papers

History: The Socialist Party of the United States of America was formally organized at a unity convention in Indianapolis in 1901. The two merging groups were the Social Democratic Party of Eugene Victor Debs and the "Kangaroo" wing of the older Socialist Labor Party. From the beginning the Socialist Party was the organization for American radicals. Its membership included Marxists of various kinds, Christian socialists, Zionist and anti-Zionist Jewish socialists, foreign-language speaking sections, and virtually every variety of American radical. The Socialist Party historically stressed cooperatives as much as labor unions, and included the concepts of revolution by education and of "building the new society within the shell of the old." The Socialist Party aimed to become a major party; in the years prior to World War I it elected two Members of Congress, over 70 mayors, innumerable state legislators and city councilors. Its membership topped 100,000, and its Presidenti al candidate, Eugene Debs, received close to a million votes in 1912 and again in 1920. The outbreak of the war against Fascism and the wartime prosperity weakened all parties on the left. While the Communist Party suffered the most from the McCarthy period, all the left was seriously impaired, and by the mid-fifties little remained of organized radical politics. The Socialist Party was down to about 2,000 members, and had more or less withdrawn from electoral action in the face of the increasingly restrictive ballot-access laws passed by state legislatures around the country. In 1956 the Socialist Party and the Social Democratic Federation reunited, under pressure from the Socialist International (with which both groups were affiliated). By 1970, the Socialist Party was showing a growing tendency toward democratic centralism in practice. At the end of 1972 the Socialist Party, changed its name to Social Democrats USA. Since 1973 the Socialist Party USA has focused its attention more on grassroots and local politics, and has dealt with the controversial issue of Presidential politics on a case-by-case basis. Due to America's restrictive and often undemocratic ballot access laws (which have made it almost impossible to break the two-party monopoly on national politics), the party views the races primarily as opportunities for educating the public about socialism and the need for electoral democracy in the US. Socialist Party’s Philosophy: The Socialist Party stands for the abolition of every form of domination and exploitation, whether based on social class, gender, race/ethnicity, sexual orientation, or other characteristics.

Sullivan Ford Case Study

Introduction This case details the position of Carol Sullivan-Diaz, the 28-year-old daughter of Walter Sullivan who died at the age of 56. Walter had bought a Ford dealership in 1983 that eventually grew into what is now Sullivan Ford Auto World. The business sells cars but also services them. Carol is disappointed by current turnover in car sales and sees that the service revenues are below average for this size of dealership. Carol’s now has to decide what way to tackle the future. She can sell the business but will probably only return a value below what it might be worth if profitable or she can look at the operation and see if she can turn it around herself. While she has a bachelor’s degree in economics, an MBA degree and a background in health care management, she also served time working with her father so she appears to have the skills and experience to tackle the issue if she so desires. Characteristics of Services The car sales and car service are closely linked. Here, we look at the car service following on from the car sale and both these processes are happening with the same provider, Sullivan Ford Auto World. While we generally say that services are intangible, in this case the car sales service has a high goods content that is the car at the end of the process. The car service on the other hand, is intangible. The core business here can be looked at as the car sales and the supplementary service is the car servicing. Sullivan is trying to establish the service as a stand-alone service. Sullivan could have customers that have not bought a car but have their own car serviced at the garage. But Sullivan would hope that when they sell a car, this customer will come back regularly to have their car serviced. However, survey results suggest Sullivan is not getting repeats. Another difference here is that when a car is sold, ownership changes to the buyer but in services we say that ownership does not change. What happens is that the car service â€Å"process† changes the physical possession that is the car. As we know, services cannot be stored. The physical car can be stored and kept as stock or inventory but the car servicing cannot. Therefore, it is essential that the servicing is kept working in order to generate turnover. If the service department has capacity to service ten cars per day, it must try to meet that target because if it is idle at any stage, that time (and time is money) cannot be regained. In the sale of a car, the customer can be involved as they are making the purchase decisions. They will decide if they need or want the car and then seek information. They can view the car, test drive it, smell the â€Å"new car† smell and enjoy the experience. They can contact Sullivan and see what’s on offer in advance. With the car service, the customer is not really involved (except to deliver the car for appointment) as car service is specialised and the customer will not be present when the service is being carried out. They cannot see the â€Å"service† and may have to wait and drive for days to be sure the service was successful. When the customer is buying a new car, they will be fairly sure of what they are getting. Ford has a good reputation and is seen to be a reliable brand, so the customer can be confident. The service is not the same. It is harder for Sullivan to maintain consistency with the service. Sullivan will be depending on his own mechanics to provide the quality whereas the car purchase will depend on Ford. Also, if there is a problem with the service, it will be difficult to hide this from the customer. It will be essential for Sullivan to be aware of the customers expectation so as he will not be disappointed afterwards. I also feel that there is a feel-good factor to buying a car and the customer is often happy to be involved in the deal but with a service, it usually happens when there is a problem so the customer may not feel happy when availing of this service and needs to be made feel comfortable. Walt said this himself when talking about the front end; â€Å"everybody’s happy when someone is buying a new car† and also observed of the service side â€Å"customers always seem to be miserable back there†). Also, as it takes time to service the car and doing without the car may inconvenience the customer, they may have a negative perception before the process starts. There is need to be aware of the difference between the car service and the customer service. The service may be good but the customer service can be bad at the same time. Customer Behaviours ) A search quality is a characteristic that can be easily accessed before purchase. [1] In the case of the car, the customer will be able to research qualities like colour, performance. He can get a feel for the car by looking around the interior, the boot, see what the engine looks like and sounds like. These are qualities he can use his five senses to evaluate. They are tangible. Ford’s reputation should eliminate risk when purchasing. However, this is not the case for the service. He cannot have a pre-purchase experience. There is no tangibility. For this, his behaviour will change. He may seek testimonials from others and depend more on word of mouth. He will seek advice on the reputation of Sullivan’s service. From the case, we see that there are problems with the service. Delays at processing, inconvenient scheduling, availability of parts etc. There is a risk here as the service may not be satisfactory so Sullivan must reassure the customer. Sullivan must ensure that the mechanics are fully trained and that customers have confidence in them b) An experience quality is a characteristic that can only be assessed after use. [2] Generally, there is a feel good factor after someone buys a car. With a reliable brand like Ford, customers would feel little risk involved and would enjoy their new car. Providing that the car runs well, the buyer should be in a position to pass on this experience by word of mouth. This is not true of the car service. Firstly, the customer may not know if the service worked. There is a risk there even after the service. One could, for example, have left the car in for servicing because every now and then the car may lose power. I believe that the customer will still be wary for some time after. If the car then loses power, there will be that sense of let down. I have found I am often on edge after a service, almost waiting for something to go wrong. If the customer is unhappy with the delays, etc outlined earlier, that too will affect the experience quality. Sullivan’s customers do not seem to be enjoying the experience between delays, inconvenience and a grubby work entrance as well as the mechanics not explaining what is happening. c) A credence quality is a characteristic that consumer may have difficulty assessing even after purchase because they do not have the knowledge or experience. [3] This may not be an issue when buying the car. The buyer immediately knows how a new car is. One expects that the driver is experienced enough to know how the car feels and also would be aware of their expectations. When it comes to the car service, the customer may not know anything about car mechanics but will know how they feel after and if they are happy with the car. They do not need any expertise to know if the problem has been resolved. Sullivan’s people are not communicating with them well. d) There are different risks involved with the two services. Ideally, buying a new car should involve no risks but you can be unlucky. You could end with a car that has problems but this is reasonably rare. The car service is different. You have to trust the service provider that they can do the job. You may be depending on recommendations and unsure of the quality of the service. The customer will not be present so has to rely on the provider that they will do the job correctly (and will work first time, â€Å"was it fixed right†) and indeed must feel sure that they will actually do the job at all. This is an area open to fraud, as the customer will not see the process. The customer here may be worried about the risk of delays. It tells us that Sullivan is slow to write the orders, not convenient when it comes to scheduling, unsure of availability of parts and this all takes times. e) The decision making process for buying the car will be as follows. First, the customer recognised the â€Å"want† for the car. Next they will seek information. The information will come from research, word of mouth, specialist publications, etc. Step three will be the evaluation of alternatives. The alternatives are fairly limited and will be to decide if he wants to take public transport, get a bicycle, depend on lifts but if one ants to be independent, there are no alternatives. Next is the purchase and then after that, evaluate the product. Has it satisfied his needs? Was it of value? f) The car service will have a different 3-stage process. Firstly, at the pre-purchase stage, the customer will be aware of their need and that means that the car needs servicing. They will explore solutions and that may mean going to t he service provider or look for alternatives. They will talk to third parties and maybe the supplier themselves. This will help them identify risks and their desired service level. The zone of tolerance will be established at this time. An alternative will be to service the car at home or get a friend who is skilled to do this that they trust. If they decide to go ahead, they will then make that decision. Service will be delivered and payment made. After this step is the post-encounter stage. Here they will evaluate the performance and compare it to their expectations. Are they satisfied or not with the service? Interestingly, the survey shows that the customers are made aware of what they had to do if they needed a service but less than a third had been introduced to someone in that department Flower of Service Below is the Flower of Service and analysis of the problems facing Sullivan. The â€Å"core† is the car servicing and both the facilitating services and enhancing services surround it. [pic] Facilitating Services Information – This is the first step in the service where the customers get the information they need. In Sullivans, they are told what to do if they need a service but they are not being introduced to any of the team. Here they should find out about the scheduling, how long the service will take, the price, does the warranty cover it, etc. Order Taking – This is where the bookings are taken; the scheduling is put into place and so on. Sullivans seem to be falling down here. Their survey results show the worst ratings and things like promptness of orders, scheduling convenience, service hours convenience are all pointed out. The fact that all orders were hand-written slowed down processing and often the telephone ringing slowed it down even more much to the frustration of the customers. Another frustration was that if the job was not of routine nature, a price could not be given on the spot. The customer would be called later in the morning with an estimate. Billing – People expect clear and precise billing and there is nothing to suggest that there is a problem here and as all orders are handwritten and with carbon copies, it should be easy for the bills to be clear. Also, the customer is either given an instant quotation for routine work or will contacted with a quotation so this should make billing clear. Payment – As the cars are due to be collected by 6pm on the day of the service, it would be expected that payment be made then. The service writer would have all the paperwork in order when the customer would collect the car. Enhancing Services Consultation – This is more than just information. Information really consists of answering the questions of customers whereas consultation is deeper and probes the specific needs or requirements of the customer and then draw up an appropriate plan. This would be important in an area where the customer is unfamiliar with actual service. The mechanic should diagnose the problems and then take the customer step by step through the possible solutions and alternatives. Here in Sullivans, they explained what to do when a service was needed but after that not many were introduced to someone in the service department. This is where the expertise lies and therefore consultation should have followed. The survey also said that customers were offered poor explanations of the work done and found the staff rude and impolite. Hospitality – This is the welcome that customers should get on arrival and a sense of being a valued customer. This should be easy to deal with as a smile and a friendly face costs nothing. Feargal Quinn, of Superquin fame, says, â€Å"If somebody comes to us looking for a job, we make sure they know how to smile†. [4] It is the small things that make people feel welcome. Sullivans seem to be failing here too in the service department. When greeting the customer, there must be a smile, it must be sincere and there must be eye contact†. [5]In Walt’s time, he made everyone welcome in the front office and had little time for the service area. This showed. It was shabby and greasy. The customers were interrupted by ringing phones while waiting for their car re ports to be written. Rick Obert was â€Å"gruff and argumentative†. The service department people feel uncomfortable bringing people over to the service bays so that does not seem hospitable. There was a man in a confrontation over his service so that certainly lacks hospitality and should have been dealt with immediately. Safekeeping – People expect that their possessions would be safe while being kept by the service provider. The customer here would hope that their car is safe while on the premises for the service and when not being worked on by the service people, that it would be parked in a safe place and manner. A perception here could be that Sullivans is lacking here. While there is no direct evidence, the fact the building was â€Å"old and greasy† and the service writers’ room was â€Å"cramped with paint peeling† might lead customers to believe there is a lack of safekeeping in the department. Exceptions – These are services that fall outside the normal service. We are told that the scheduling is inconvenient and service hours are too. Here exceptions should be made. There does not seem to be an atmosphere of making the customer satisfied. It seems as if Walt’s idea of not bothering with the service department has grown. There does not seem to be an ethic of problem solving. I felt from reading the piece it was a case of take it or leave it. There also seems to be no way of handling complaints. The man who Was shouting at the end had issues of â€Å".. three visits†¦service stinks†¦who s in charge†. This should have been dealt with quickly in a hospitable manner. Advice On Marketing Mix Carol has a background that could be very useful in dealing with this. She has a bachelor’s degree in economics, an MBA degree and is involved in health care management. She worked with her father so she has the skills and experience to deal with this. The 7 Ps are; Product, Place, Promotion, Price, Physical Environment, Process & People. I will look at these individually and see how Carol can mix them to help improve her situation. Product – The product in this case is the actual car service. This is the core of their offering and it is essential that this is a safe, reliable product. The customer has to be satisfied that the service is of quality. They could give the customer some confidence by making sure that they are introduced to a member of service team who can answer any questions or worries they might have about the service. Customers did worry about the product. They worried about how much the service might cost, how long it took, how did the warranty sit, etc. These are basic parts to the product that must be addressed by Carol. Place – The â€Å"place† of Sullivan’s car sales appears to be of no concern. It is on an intersection of a busy urban highway, with many new developments near by. In 1996 he bought the current site and developed it into what it is now. The place seems to be known as the study says â€Å"everyone seemed to know Walt†. But the worry from Carol’s point of view for the service department is that this area cannot be seen from the road. So people looking for services and who may not be as familiar with Sullivan’s could easily pass by. On top of that the building looks â€Å"old and greasy†. Promotion – As far as I can see from the study, the only promotion that takes place is on site promotion. The garage is decked out with bunting, flags and banners that say â€Å"Lets Make A Deal†. This is an area that she could easily develop. She could offer a free service with a car sold. She could also make appointments in advance by working out the customers’ average mileage and schedule an appointment like a dentist would. She could manage supply and demand better by offering discounts for services on days she finds are quiet. She has the academic background for this as well as her medical and family business experience. Price – In this case study we are not told that the price is affecting the number of customers that avail of it. Price is often the most thing that will make customers decide where to buy so Carol could look at this. Where there is an issue is the explanation of the work, how much it will cost and will it work on first attempt and not be a recurring cost. Physical Environment – Judging from the description of the garage, the physical environment of the service area leaves a lot to be desired. Firstly, the service area is hidden behind the showroom. Even though the equipment is modern, the building is old and greasy. The service writers work in a cramped room with peeling paint and the customers have to stand and wait while orders are being written up. This seems like an old style office plan and not acceptable in modern day car dealing. The study has told how stressed and bothered customers are when in the building so the physical environment should be made pleasant to help calm the clients. Process – The process here needs an overhaul. Customers find the order taking slow and it can be interrupted easily by the phone ringing. She must computerise it immediately. The customer leaves the car and collects it later. This is fine but the service hours are inconvenient along with the scheduling so the whole process is a trauma for the customer. She needs to implement an evaluation system that she can monitor the quality of service and maybe get the staff to explain the nature of service. She needs to put a new process in place that will allows the car to be dropped off and have a convenient entrance, instead of a side door of a greasy building and then be met with a smiling service writer who will schedule a service that is convenient. People – This is a very weak area for Carol. The survey results show that the people served by Carol and her sister were much more satisfied. The customers reported that interpersonal variables were poor. For example, politeness and understanding customer problems rated badly. The service manager was said to be gruff and argumentative with customers. This has to be addressed. When people are dealing with a possession as personal as a car, the dealer has to be polite, patient and understanding. Larry Winters is vital here. He has been leading salesman and has shown strong management capabilities. She also needs to employ more mechanics to utilise the equipment and have the service department working to capacity. Conclusion I think Carol has the skills to turn her business around. She is educated and has experience in her own business. She has the turnover of people coming through the business so if she uses her know how, I believe she will succeed. ———————– [1] Essentials of Marketing, Charles W. Lamb, Joseph F. Hair, Carl McDaniel, 2011 [2] Essentials of Marketing, Charles W. Lamb, Joseph F. Hair, Carl McDaniel, 2011 [3] Essentials of Marketing, Charles W. Lamb, Joseph F. Hair, Carl McDaniel, 2011 [4] â€Å"Crowning The Customer, How To Become Customer Driven†, Feargal Quinn, O Brien Press, 1992 [5] Mechanization Takes Command, Organizations As Machines, Gareth Morgan â€Å"Images Of Organization†, Sage Publications, 1986.

Lessons Learned in Eudora Weltys The Little Store Essay

Lessons Learned in Eudora Weltys â€Å"The Little Store† Eudora Welty in her short story â€Å"The Little Store,† is attempting to portray the simplicity and innocence of her youth prior to her realization that there was a world beyond her own. Welty foreshadows her realization and loss of innocence even before her transition to an adult. Welty reveals her childhood innocence in her description of her trips to the little store. As a child, innocence can be shown by believing everything. Along with being gullible they lack understanding. An example of Welty’s naivety is shown where she passes by her principal’s house and all she can think about is how she would make her spell â€Å"oblige, the word that she of course knew had†¦show more content†¦He went to heaven with the influinzy† (80). Inside the store all Welty can see is the candy. The most important idea she thinks about is how much candy she can get with the extra nickel. In everything that Welty does, she only thinks about herself. The transition of Welty from an innocent child is foreshadowed by her reflection comments. In the middle of telling a story about people she remembers as a child, Welty says how much they mean to her now. Eudora realizes now that everyday life as a child does not mean so much at the time but it stands for a lot later. She says, â€Å"Setting out in this world, a child feels so indelible. He only comes to find out later that it’s all the others along his way who are making themselves indelible to him† (80). Welty intimates at how innocent and unaware she is as a child by not noticing everyday details. She describes the top of the little store as having shades and she then states, â€Å"But I did not catch on to those† (80). It is not until the transition into her adulthood when Welty confronts her realization of the outside world around her. In the transition of Welty to an adult, she realizes that there is another world other than her own. Welty sta rts to see things differently. She begins to see things in different places like â€Å"the Monkey Man† and even see beyond the four walls of the store. As a child Welty only thinks of herself and does not think about any other life outside ofShow MoreRelatedEssay on Eudora Weltys The Little Store852 Words   |  4 PagesEudora Weltys The Little Store Eudora Welty, the author of The Little Store, is also the narrator in her story. Upon looking back at her childhood, Eudora realized she was a creative little girl who liked to read and to write. She had the naivety of a child. The town where I was born is only 150 miles from where Eudora was raised in Jackson, Mississippi. Therefore, I really enjoyed this story because I really felt like I could relate to it. West Point, where I was born, resembles Jackson

Memorable Martha Graham Quotes

Martha Graham  (1894-1991) was one of the best-known teachers and choreographers of modern dance. Selected Martha Graham Quotations All things I do are in every woman. Every woman is Medea. Every woman is Jocasta. There comes a time when a woman is a mother to her husband. Clytemnestra is every woman when she kills. You are unique, and if that is not fulfilled, then something has been lost. Some men have thousands of reasons why they cannot do what they want to, when all they need is one reason why they can. The body is a sacred garment. There is a vitality, a life-force, an energy, a quickening that is translated through you into action and because there is only one of you in all of time, this expression is unique. And if you block it, it will never exist through any other medium and be lost. The body says what words cannot. The body is your instrument in dance, but your art is outside that creature, the body. Our arms start from the back because they were once wings. No artist is ahead of his time. He is his time. It is just that the others are behind the time. Dance is the hidden language of the soul. Dancing is just discovery, discovery, discovery. Nobody cares if you cant dance well. Just get up and dance. Great dancers are not great because of their technique, they are great because of their passion. Dance is a song of the body. Either of joy or pain. I did not want to be a tree, a flower or a wave. In a dancers body, we as audience must see ourselves, not the imitated behavior of everyday actions, not the phenomenon of nature, not exotic creatures from another planet, but something of the miracle that is a human being. I am absorbed in the magic of movement and light. Movement never lies. It is the magic of what I call the outer space of the imagination. There is a great deal of outer space, distant from our daily lives, where I feel our imagination wanders sometimes. It will find a planet or it will not find a planet, and that is what a dancer does. We look at the dance to impart the sensation of living in an affirmation of life, to energize the spectator into keener awareness of the vigor, the mystery, the humor, the variety, and the wonder of life. This is the function of the American dance. Think of the magic of that foot, comparatively small, upon which your whole weight rests. Its a miracle, and the dance is a celebration of that miracle. Dancing appears glamorous, easy, delightful. But the path to paradise of the achievement is not easier than any other. There is fatigue so great that the body cries, even in its sleep. There are times of complete frustration, there are daily small deaths. We learn by practice. Whether it means to learn to dance by practicing dancing or to learn to live by practicing living, the principles are the same. One becomes in some area an athlete of God. It takes ten years, usually, to make a dancer. It takes ten years of handling the instrument, handling the material with which you are dealing, for you to know it completely. Misery is a communicable disease. In 1980. a well-meaning fundraiser came to see me and said, Miss Graham, the most powerful thing you have going for you to raise money is your respectability. I wanted to spit. Respectable! Show me any artist who wants to be respectable. Im asked so often at ninety-six whether I believe in life after death. I do believe in the sanctity of life, the continuity of life and of energy. I know the anonymity of death has no appeal for me. It is the now that I must face and want to face.

Ludwig Van Beethoven ( 1770-1827 ) - 1428 Words

Ludwig van Beethoven (1770-1827) was a German composer, a representative of the Viennese classical musical school; was born in Bonn, but spent most of his life in Vienna. Notably, Beethoven s music is a complex synthesis of creative achievements of the Viennese classics (Gluck, Haydn, Mozart); art of the French Revolution; and the new emerging artistic direction, Romanticism. The works of Beethoven bear the imprint of ideology, aesthetics, and art of the Enlightenment. This explains the logic, clarity of form, reasoning of the whole artistic design and the particular parts of works. Being the composer of a new era, Beethoven expressed intonation using different tones – dynamic, restless, sharp. Thus, the sound of his music became much more saturated, dense, and dramatically contrasting. As a result, his musical themes were laconic, yet austerely simple. The audience was impressed by emotional power of Beethoven s music, manifesting in the rapid tension, grand epic sweep, or the soulful lyrics. But these qualities of art of Beethoven were admired by the musicians of the Romantic. And although the link with Beethoven and Romanticism is undeniable, his art in its main outlines does not correlate with that period. At least, it does not fit entirely in the frame of classicism, since Beethoven, like few others, was unique and multi-faceted.†¨Topics of Beethoven Works†¨Ã¢â‚¬ ¨Beethoven primarily focused on the hero s life, flowing in the constant struggle for the common bright future.Show MoreRelatedLudwig Van Beethoven ( 1770-1827 )858 Words   |  4 PagesIntroduction Ludwig van Beethoven (1770-1827) was a German composer, pianist and a key figure in the evolution of Classical music to Romanticism. While he is known as a key figure in the musical world, he faced the challenge of losing his hearing within the last 10 years of his life. 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For most people in the world this German composer has made that possible with the amount of success he achieved in his career. This composer has influenced generations of music makers and listeners from the 1800’s to today. Undoubtingly one of the most influential, well-knownRead MoreLudwig van Beethoven Essay952 Words   |  4 Pagesmusic period. Ludwig van Beethoven was one of the composers, along with other greats of the time like Haydn and Mozart, which helped to create a new type of music. This new music had full rich sounds created by the new construction of the symphony orchestra. Ludwig van Beethoven was born in the town of Bonn, Germany on December 16 of 1770. Bonn is located in western Germany on the Rhine River. Beethoven showed an affinity for music at an early age. His father, Johann, taught Ludwig to play the

Financial Projection Essay Example For Students

Financial Projection Essay financial projection essential element of planning that is the basis for budgeting activities and estimating future financing needs of a firm. Financial projections (forecasts) begin with forecasting sales and their related expenses. The basic steps in financial forecasting are: (1) project the firms sales; (2) project variables such as expenses and assets; (3) estimate the level of investment in current and fixed assets that is required to support the projected sales; and (4) calculate the firms financing needs. The basic tools for financial forecasting include the percent-of-sales-method, regression analysis , and financial modeling. Financial Forecasting Financial Forecasting describes the process by which firms think about and prepare for the future. The forecasting process provides the means for a firm to express its goals and priorities and to ensure that they are internally consistent. It also assists the firm in identifying the asset requirements and needs for external financing. For example, the principal driver of the forecasting process is generally the sales forecast. Since most Balance Sheet and Income Statement accounts are related to sales, the forecasting process can help the firm assess the increase in Current and Fixed Assets which will be needed to support the forecasted sales level. Similarly, the external financing which will be needed to pay for the forecasted increase in assets can be determined. Firms also have goals related to Capital Structure (the mix of debt and equity used to finance the firms assets), Dividend Policy, and Working Capital Management. Therefore, the forecasting process allows the firm to determine if its forecasted sales growth rate is consistent with its desired Capital Structure and Dividend Policy. The forecasting approach presented in this section is the Percentage of Sales method. It forecasts the Balance Sheet and Income Statement by assuming that most accounts maintain a fixed proportion of Sales. This approach, although fairly simple, illustrates many of the issues related to forecasting and can readily be extended to allow for a more flexible technique, such as forecasting items on an individual basis. Concepts Percentage of Sales Method The Percentage of Sales Method is a Financial Forecasting approach which is based on the premise that most Balance Sheet and Income Statement Accounts vary with sales. Therefore, the key driver of this method is the Sales Forecast and based upon this, Pro-Forma Financial Statements (i. e. , forecasted) can be constructed and the firms needs for external financing can be identified. The calculations illustrated on this page will refer to the Balance Sheet and Income Statement which follow. The forecasted Sales growth rate in this example is 25% Balance Sheet ($ in Millions)| Assets| 1999| Liabilities and Owners Equity| 1999| Current Assets| Â   | Current Liabilities| Â  | Cash| 200| Accounts Payable| 400 | Accounts Receivable| 400 | Notes Payable| 400 | Inventory| 600 | Total Current Liabilities| 800 | Total Current Assets| 1200 | Long-Term Liabilities| Â   | Â  | Â  | Long-Term Debt| 500| Fixed Assets| Â   | Total Long-Term Liabilities| 500| Net Fixed Assests| 800 | Owners Equity| Â  | | Â  | Common Stock ($1 Par)| 300| | Â  | Retained Earnings| 400| Â   | Total Owners Equity| 700| Total Assets| 2000 | Total Liab. and Owners Equity| 2000| | Income Statement ($ in Millions)| | 1999| Â  | Sales| 1200| Â  | Cost of Goods Sold| 900| Â  | Taxable Income| 300| Â  | Taxes| 90 | Â  | Net Income| 210| Â  | Dividends| 70| Â  | Addition to Retained Earnings| 140| Â  | | Percentages of Sales The first step is to express the Balance Sheet and Income Statement acc ounts which vary directly with Sales as percentages of Sales. This is done by dividing the balance for these accounts for the current year (1999) by sales revenue for the current year. The Balance Sheet accounts which generally vary closely with Sales are Cash, Accounts Receivable, Inventory, and Accounts Payable. Fixed Assets are also often tied closely to Sales, unless there is excess capacity. (The issue of excess capacity will be addressed in External Financing Needed section. ) For this example, we will assume that Fixed Assets are currently at full capacity and, thus, will vary directly will sales. Retained Earnings on the Balance Sheet represent the cumulative total of the firms earnings which have been reinvested in the firm. Thus, the change in this account is linked to Sales; however, the link comes from relationship betwen Sales growth and Earnings The Notes Payable, Long-Term Debt, and Common Stock accounts do not vary automatically with Sales. The changes in these accounts depend upon how the firm chooses to raise the funds needed to support the forecasted growth in Sales. On the Income Statement, Costs are expressed as a percentage of Sales. Since we are assuming that all costs remain at a fixed percentage of Sales, Net Income can be expressed as a percentage of Sales. This indicates the Profit Margin. Taxes are expressed as a percentage of Taxable Income (to determine the tax rate). Dividends and Addition to Retained Earnings are expressed as a percentage of Net Income to determine the Payout and Retention Ratios respectively. Percentage of Sales Calculations | The examples in this box illustrate the calculations which were used to determine the percentages provided in the following Balance Sheet and Income Statement. Cash| Cash/Sales = $200/$1200 = . 1667 = 16. 67%| Inventory| Inventory/Sales = $600/$1200 = . 5 = 50%| Accounts Payable| (Accounts Payable)/Sales = $400/$1200 = . 3333 = 33. 33%| Costs| Costs/Sales = $900/$1200 = . 5 = 75%| Taxes| Taxes/(Taxable Income) = $90/$300 = . 3 = 30%| Net Income| (Net Income)/Sales = $210/$1200 = . 175 = 17. 5%| Dividends| Dividends/(Net Income) = $70/$210 = . 3333 = 33. 33%| | Balance Sheet ($ in Millions)| Assets| 1999| %| Liabilities and Owners Equity| 1999| %| Current Assets| Â   | Â   | Current Liabilities| Â  | Â  | Cash| 200| 16. 67% | Accounts Payable| 400 | 33. 33% | Accounts Receivable| 400 | 33. 33% | Notes Payable| 400 | N/A | Inventory| 600 | 50. 00% | Total Current Liabilities| 800 | | Total Current Assets| 1200 | | Long-Term Liabilities| Â   | Â   | Â  | Â  | Â  | Long-Term Debt| 500| N/A | Argumentative Abortion EssayBalance Sheet ($ in Millions)| Assets| 1999| Liabilities and Owners Equity| 1999| Current Assets| Â   | Current Liabilities| Â  | Cash| 200| Accounts Payable| 400 | Accounts Receivable| 400 | Notes Payable| 400 | Inventory| 600 | Total Current Liabilities| 800 | Total Current Assets| 1200 | Long-Term Liabilities| Â   | Â  | Â  | Long-Term Debt| 500| Fixed Assets| Â   | Total Long-Term Liabilities| 500| Net Fixed Assests| 800 | Owners Equity| Â  | | Â  | Common Stock ($1 Par)| 300| | Â  | Retained Earnings| 400| | Â   | Total Owners Equity| 700| Total Assets| 2000 | Total Liab. nd Owners Equity| 2000| | Income Statement ($ in Millions)| | 1999| Â  | Sales| 1200| Â  | Cost of Goods Sold| 900| Â  | Taxable Income| 300| Â  | Taxes| 90 | Â  | Net Income| 210| Â  | Dividends| 70| Â  | Addition to Retained Earnings| 140| Â  | | Full Capacity The equation used to calculate EFN when fixed assets are being utilized at full capacity is given below . (Please note that this equation is based on the same assumptions that underly the Percentage of Sales Method. Namely that the Profit Margin and the Retention Ratio are constant. ) where * S0 = Current Sales, S1 = Forecasted Sales = S0(1 + g), * g = the forecasted growth rate is Sales, * A*0 = Assets (at time 0) which vary directly with Sales, * L*0 = Liabilities (at time 0) which vary directly with Sales, * PM = Profit Margin = (Net Income)/(Sales), and * b = Retention Ratio = (Addition to Retained Earnings)/(Net Income). When the firm is utilizing its assets at full capcacity, A*0 will equal Total Assets. L*0 typically consists of Accounts Payable (and if present Accruals). The logic of underlying this equation can be explained as follows. * = the required increase in Assets, = the spontaneous increase in Liabilities, and * = the spontaneous increase in Retained Earnings. The incresed in Liabilities and Retained Earnings in the equation are considered spontaneous because the occu r essentially automatically as a consequence of the firm conducting its business. Full Capacity Example | Use the Balance Sheet and Income Statement above to determine the EFN given that Fixed Assets are being utilized at full capacity and the forecasted growth rate in Sales is 25%. Solution:First calculate the Forecasted Sales. S1 = 1200(1 + . 5) = $1500Next, solve using the EFN equation. Note that we are substituting (Net Income)/(Sales) for Profit Margin and (Addition to Retained Earnings)/(Net Income) for the Retention Ratio. | Excess Capacity If the firm has excess capacity in its Fixed Assets then the Fixed Assets may not have to increase in order to support the forecasted sales level. Moreover, if the Fixed Assets do need to increase in order to support the forecasted sales level, then they will not have to increase by as much as would be required if they were being used at full capacity. When a firm has excess capacity in its Fixed Assets the first step is to determine the sales level that the existing Fixed Assets can support. This can be determined by dividing Current Sales by the percentage of capacity at which the Fixed Assets are presently being utilized. This sales level is called Full Capacity Sales, SFC. If Forecasted Sales are less than Full Capacity Sales, then fixed assets do not need to increase to support the forecasted sales level. On the other hand, if Forecasted Sales are greater than Full Capacity Sales, then Fixed Assets will have to increase. We shall consider these two cases below. Case 1: S1 Less Than SFC When the Forecasted Sales are less than or equal to Full Capacity Sales, EFN can be determined in one step using the above equation. The only adjustment is that A*0 now only consists of Total Current Assets since Fixed Assets do not need to increase to suppor the forecasted sales level. Excess Capacity Example: S1 SFC | Use the Balance Sheet and Income Statement above to determine the EFN given that Fixed Assets are currently being utilized at 60% of capacity and the forecasted growth rate in Sales is 25%. Solution:First calculate the Forecasted Sales and Full Capacity Sales. S1 = 1200(1 + . 25) = $1500SFC = 1200/. 60 = $2000Since Forecasted Sales are less than Full Capacity Sales the EFN can be found in one step. Here A*0 is equal to Total Current Assets which equals $1200. | Case 2: S1 Greater Than SFC When the Forecasted Sales are greater than Full Capacity Sales, EFN can be determined in two steps. The first step, illustrated by the equation for EFN1 below, finds the EFN needed to get to Full Capacity Sales. The second step, illustrated by the equation for EFN2 below, finds the additional EFN to get from Full Capacity Sales to the Forecasted Sales. The total EFN is simply EFN1 plus EFN2. Excess Capacity Example: S1 SFC | Use the Balance Sheet and Income Statement above to determine the EFN given that Fixed Assets are currently being utilized at 90% of capacity and the forecasted growth rate in Sales is 25%. Solution:First calculate the Forecasted Sales and Full Capacity Sales. S1 = 1200(1 + . 25) = $1500SFC = 1200/. 90 = $1333. 33Since Forecasted Sales are greater than Full Capacity Sales the EFN has to be found in two steps. | Financial Forecasting Equations Forecasted Sales| S1 = S0(1 + g)| Full Capacity Sales| | External Financing Needed (S1 SFC)| | External Financing Needed (S1 SFC)| | .

Lessons learned throughout To Kill a mocking bird! free essay sample

â€Å"You’ll learn, as you get older, that rules are made to be broken. Be bold enough to live life on your terms, and never, ever apologize for it. Go against the grain, refuse to conform, take the road less traveled instead of the well-beaten path. Laugh in the face of adversity, and leap before you look. Dance as though everybody is watching March to the beat of your own drummer. And stubbornly refuse to fit in. †-Mandy Hale In the south of the United States during the 30s in the town of Maycomb, Alabama we follow the upbringing of two children in a racist, judging, non compassionate society. In the book To Kill A Mocking Bird by Harper Lee Jem and Scout Finch learn many lessons through out the book that will help them further themselves in life. They learn valuable lessons on not judging a person without walking in their shoes, and to have empathy toward others. We will write a custom essay sample on Lessons learned throughout To Kill a mocking bird! or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Firstly, One lesson that Jem and Scout learn is dont pre-judge a person without walking in their shoes. Intolerance of peoples actions and opinions seem to be one of the most crucial problems we face in our world today, things were really no different down in Maycomb in the 30s. Weather it be racial bias or preconceived nations many of the problems or situations that go down in this book revolve around this delemia . Atticus was right when he told Scout â€Å"You never really understand a person until you consider things from his point of view until you climb into his skin and walk around in it. (Lee, pg. 39). Many characters were pre-judged by Jem and scout like Boo Radley, The children made him look like a monster the knowledge the children had of Boo comes from the gossip that runs around the town of him from the other characters in Maycomb, primarily Miss. Stephanie Crawford. As events happen throughout the novel, Jem and Scout come to respect him as an individual and his choice to remain seperated from society. Like Boo Radley rumors are spread around town when Dolphus Raymond comes to town for the trial. The children hear rumors on how he is a alcoholic and a nigger lover and chooses to like the black people over white people. They believe these rumors and go on with what they are doing, but when Dill had left the courthouse crying and was upset about the way Tom Robinson has been treated during the direct examination they come face to face with Dolphus himself. They come to understand that Dolphus indeed does prefer black people over the white people, but most of the rumors spread about him are not true. He said † Some folks don’t—like the way I live. Now I could say the hell with ‘em, I don’t care if they don’t like it. I do say I don’t care if they don’t like it, right enough—but I don’t say the hell with ’em, see? . I try to give ‘em a reason, you see. It helps folks if they can latch onto a reason. When I come to town, which is seldom, if I weave a little and drink out of this sack, folks can say Dolphus Raymond’s in the clutches of whiskey—that’s why he won’t change his ways. He can’t help himself, that’s why he lives the way he does. † (Lee, pg. 268) A character like Mrs. Dobous is believe to be a witch, a mean, cruel, and harsh lady. She is really pre-judged by Jem and Scout when they talk to her, but in reality Mrs. Dubose is a morphine addict who had vowed to go clean before she died, and needed Jem and Scout without their knowledge to keep her off the stuff for longer and longer periods of time. Atticus tells the kids the lesson he hopes theyve learned from her. The lesson on courage. Second, another lesson Jem and Scout learned through the novel was on treating people with empathy. Empathy is most often defined by the metaphors of standing in someone elses shoes or seeing through someone elses eyes. In the Novel Jem and Scout go through a lot of situations where empathy is needed to understand the situation or the bigger picture. Like the situation that went on with Walter Cunningham. During this novel Jem develops a strong emotional intelligence that helps and allows him to understand the situation of the people around him. He sees what goes on with Scout and Walter and he invites Walter over to their house for supper, Jem stops Scout form picking and beating on Walter because he understands the painful and unplesent things Walter and his family face on a daily basis. Scout develops her empathy from this situation when Calpurnia pulls her into the kitchen and lays out the Cunningham’s situation to her. â€Å"Yo’ folks might be better’n the Cunningham’s but it don’t count for nothin’ the way you’re disgracin’ ‘em. † (Lee. Pg 26). With everything that happens with Walter and the Cunninghams Scout and Jem Learn how to emphasize with both Walter and his family. Another situation where empathy was used to understand the bigger picture was with Aurther Radley (Boo). Jem and scout never understood why boo never wanted to come out of his house. They first believe all the rumors spread about him, but then slowly throught the book had a change of heart and started to turn around. They came to conclusion that Boo was not being forced to stay in his house but that he didnt want to come out, he didnt want to live with society of Maycomb. This was evident because in the end of the book Boo saves the children from Bob Ewell and brings them to Atticus, scout points him out to Atticus and Tate and he was so scared, timid, quiet, and very sensitive to his surrounding, he was harmless. Now we understand the Boo was not a â€Å"malevolent phantom but that Boo Radley is a discreet and quiet person who displays good moral values and knows when to stand up for what is right. Furthermore another example of empathy is when Scout brought up Dills father. Dill does not really have a father in his life, he bounces from family member to family member. He does not have a tight family like the Finches do. So hen Scout starts to question Dill about his father Jem steeps in and stops it. He kind of feels what Dill is going through, because his mother died so he knows how it feels not to have one parent around. Since he is such a caring and understanding boy, he knows Dill is probably hurting and crushed about his father situation and does not want him upset. In conclusion, Jem and scout have learned much on these lessons that will defiantly further them in life and have become very mature children through the development of this book. The challenges and obstacles that they have overcome not only are huge for their age but will impact their life forever.