Segmentation – a Brief Analysis of Facial Creams

The inventive brief c. Take a gander at the Sepals advertisement ND detail in reverse the situating. Assignment 4: Debriefing: Take the instance of the customer brief of ANT (National Authority for Tourism) and envision that you are a record individual and put all the inquiries that you would put to a customer inside a questioning meeting so as to explain yourself so you can think of an inventive brief. Undertaking 5: Communication channels †Identify pertinent correspondence channels for Avoidance Passport support and characterize what might be the job of every one out of a correspondence crusade planning to expand membership of this service.Task 1 †Sony Triton-Formulate the Position Backwards [Target/need] To emulate, amusement. _Sony_Trillion_ individuals that sit in front of the TV as a methods for Information. Spending is the brand of TV sets serious framework] contending planned by Sony [perceptual for the most part with different brands counterclaiming TV sets, just a s with other picture sharing gear (videophone's, recorders, PCs). That best fulfills your need [brand benefit] for splendor and lucidity of the depicted picture The motivation behind why is 1 .ART perfectly clear picture at a moderate value 2. Line it depends on a mechanical advancement †â€Å"triton† which is utilized explicitly for a more clear and more splendid picture. I en Drank contracted Is reality. More splendid, more clear picture , progressively distinctive and taking after Competition a. Plan the situating of top 5 players on against maturing face cream showcase as you can comprehend it from their correspondence in 2008/2009. B. Draw up 3: Briefing: Look at the advertisement named Maxillae and envision in reverse the accompanying: a.Task 2 †Anti-Aging Cream †Formulate the Position Backwards The 5 brands which I will examine are: ; Naive QUOI Plus †hostile to maturing cream, in view of start QUOI for day by day or evening time use. This is an ene my of maturing item, utilized by both males(Naive Men) and ladies, with both day and evening versions dependent on a similar key fixing †initiate QUOI, at a reasonable cost. Item Pop: contains start QUOI ; Given Power Youth †cream intended for the primary indications of maturing , dependent on regular fixings and for a smoother, increasingly hydrated impact of the skin. This is a cream which most ladies use routinely, during day time.Consumer Pop: common fixings ; La Prairie Anti-Aging Complex Cellular Intervention Cream †propelled hostile to maturing cream, remembers collagen for expansion to retinal and hydroxyl acids to decrease the presence of lines. A progressively rich item, with an expected cost of 200$/ounce. Item Pop: collagen expansion, retinal and hydroxyl acids Task 2 †Anti-Aging Cream †Formulate the Position Backwards ;Erne Laszlo Timeless Skin Age †hostile to maturing cream fitting for all skin types. Limits under-eye melancholy, decreases appearance of barely recognizable differences and wrinkles, disposes of cow's feet and fine dry lines in eye zone.Formulated with Marine Collagen Complex and nutrients to diminish lines and indications of weakness. A cream for mass-utilization. Purchaser Pop: marine common fixings to decrease lines brought about by weakness ; Clique Anti-Gravity Firming Lift Cream †the cream lifts and solidifies skin. Eradicates the vibes of lines as it fixes. Reestablishes versatility by remaking common collagen. Includes pad into diminishing skin through patent-pending innovation. This is a cream witch ladies use generally during evening, at a moderate cost. Item pop: contains a self-enrolled equation intended to make an uncommon pad into skin tangling Ana telling.Task 2 †Anti-Aging Cream †Naive QUOI Plus [Target/need] To present day, dynamic and consistently moving ladies that look for a young and Jovial viewpoint in their skin tone and surface, roughly from 35-4 years of age. Is the brand of healthy skin, enemies of wrinkles cream [perceptual serious framework] excluding generally with different brands counterclaiming skin _Naive QUOI Plus _ care items (creams, serums) , just as with different items which target decreasing the indications of maturing †common or synthetic substances, clinical intercessions, extra methods of accomplishing a similar outcome (knead, a specific eating routine).

Egypt Essays - Egyptian Mythology, Ancient Egyptian Religion

Egypt Essays - Egyptian Mythology, Ancient Egyptian Religion Egypt Over 5,000 years prior, numerous incredible developments prospered with extraordinary force all through bits of Egypt and Southwest Asia. Because of their shocking area marks (a large number of them despite everything erect), to there incredible capacity to get sciences and math, and to their religion that is as yet polished by many; The Egyptian Development is the most popular. The Nile River Valley, and the hot, huge desert that is sprinkled with a couple of little desert gardens, was once home to these people more than 5,000 yeas back. These Egyptians assembled many shocking structures while they settled along the Nile. A considerable lot of these extraordinary structures (counting the pyramids), are as yet standing tall and glad as could be. The colossal tanish pyramids are the last resting spot of the pharaohs, or rulers. Today individuals run from everywhere throughout the world to see these extraordinary centerpieces. Another of the structures that still stands is the Sphinx. The Sphinx is a sculpture worked by the antiquated Egyptians numerous years back. The Summarians, the neighbors to the Egyptians, additionally had structures which despite everything stand. They had Ziggurats. One of these structures that is standing today is the Khuzistan. These colossal layered structures where not tombs however. These were sanctuaries that where worked to draw nearer to paradise. The Egyptians additionally created geometry, and they had amazing logical information for their time. They utilized geometry to assist them with building the pyramids and to reestablish limits of fields after the incredible flood that they had once every year. Their science information about the human body permitted them to treat sicknesses superior to any known antiquated development. They likewise had the capacity to save assemblages of the dead. This protection is called embalmment. With out this, we were unable to know such a great amount about them. Their conservations of their incredible pharos permit us to see them nearly as they looked 5,000 years back. In any case, they weren?t the main ones to make logical disclosures; however, they were maybe the best ones at doing it. Summarians are believed to be the ones who imagined the genuinely necessary, round wheel. Likewise, the Chaldeans made an estimation of the length of the year to inside seven little minutes! The Egyptian religion changed many occasions over it?s advancement. Portions of the religion is as yet drilled by some today. Before Amenhoptop became pharaoh, the Egyptians had confidence in numerous divine beings, or polytheism. Amenhoptop attempted to change their religion to monotheism, of having confidence in one fundamental god. He did this by making the sun god, Aton, the fundamental god. This was to attempt to make the cleric have less force. This made the minister irritated with Amenhoptop. When Amenhoptop kicked the bucket, the procedure pharaoh, Tutankhamen (King Tutt), transformed it back to polytheism. Their religion too accepted that everybody had an existence in the wake of death. They felt that safeguarding the body would make the soul more joyful. Before an individual could go to ?paradise? he needed to go to the Realm of the Dead. There he was thought to enter the Hall of the Truth. Here he should tell the god Osrisus the sort of life he had lived. In the event that he had ever lied, killed or been unnecessarily glad he would be tossed to an unpleasant beast called ?the Eater of the dead?. On the off chance that he had been acceptable, he could live ! with the sun god and appreciate unceasing satisfaction. This conviction helped numerous individuals be acceptable rather than malicious. The Egyptian religion was fundamentally the same as the Persians?. The Persians believed that great would be remunerated and malice would be rebuffed during an existence in the wake of death. Be that as it may, the Summarians didn't have a firm confidence in the great beyond. The Egyptian human progress is really the most thought about. It is actually a perfect inclination to realize that we can at present observe the tombs of their pharaohs, and even the pharos themselves that are saved and resemble they did when they lived. We likewise still have individuals practice their religion following a long time since it?s starting. The Egyptians were simply stunning them selves.

Is the Nicotine Patch a Good Way to Stop Smoking

Is the Nicotine Patch a Good Way to Stop Smoking Addiction Nicotine Use How to Quit Smoking Print Is the Nicotine Patch a Good Way to Stop Smoking? By Terry Martin facebook twitter Terry Martin quit smoking after 26 years and is now an advocate for those seeking freedom from nicotine addiction. Learn about our editorial policy Terry Martin Medically reviewed by Medically reviewed by Sanja Jelic, MD on January 21, 2020 Sanja Jelic, MD, is board-certified in sleep medicine, critical care medicine, pulmonary disease, and internal medicine.   Learn about our Medical Review Board Sanja Jelic, MD Updated on January 23, 2020 Verywell / Cindy Chung More in Addiction Nicotine Use How to Quit Smoking After You Quit Nicotine Withdrawal Smoking-Related Diseases The Inside of Cigarettes Alcohol Use Addictive Behaviors Drug Use Coping and Recovery Due to the health risks of consuming most nicotine-containing products and the high addictive potential, there are many people searching for ways to decrease their use. Nicotine Replacement Therapies have been a historically popular choice for decreasing dependence on nicotine. One of the most popular NRTs (nicotine replacement therapies) available on the market today is the nicotine patch, approved by the FDA in 1991 as a prescription drug. First introduced in the U.S. by prescription only in 1992, the patch could be bought over-the-counter beginning in 1996.?? Other forms of medicinal nicotine products include gum, lozenges, inhalers, and a spray. In recent years, the use of NRTs has gone down, in favor of other methods such as tapering with electronic nicotine delivery systems (ENDS), however, the patch is still available as an option and there are some things about it you should know if considering it for smoking cessation. Nicotine Intake Options and Health Risks Cigarettes tend to contain 10 to 20 mg of nicotine and about 1 to 2 mg get absorbed by your body. Juul, the most popular brand of vape contains 50 mg of nicotine and is a common alternative to cigarettes because it is easier to smoke indoors. Hookah smoking is a global practice for taking in nicotine, and studies show it may actually be more harmful than smoking cigarettes. The hookah smoke is heated by charcoal briquettes. According to a 2016 study in Science of the Total Environment, synthetic hookah charcoals contain more heavy metals than most cigarette brands, as well as having higher concentrations of lead.?? Is the Nicotine Patch Effective? The nicotine patch provides a steady, controlled dose of nicotine throughout the day, thereby reducing the effects of nicotine withdrawal. Patch strength is reduced over time, allowing the user to wean themselves off of nicotine gradually. According to Clinical Practice Guidelines put out by the U.S. Department of Health and Human Services in 2008, of the seven first-line medications that consistently have been found to increase long-term abstinence rates: Bupropion SR, Varenicline, nicotine gum, nicotine inhaler, nicotine lozenge, nicotine nasal spray, and the nicotine patch, all five of NRTs have about the same level of efficacy.?? One major benefit, according to a study published in the Archives of Internal Medicine, is that more people correctly use the patch than they do any other NRT. Doing this increases the potential however for overdose so be careful.?? The combination of counseling and medication is more effective than either alone. Dosage and Preparation Nicotine patches typically come in three different dosage strengths: 21mg, 14mg, and 7mg, though this may vary between manufacturers slightly. These numbers refer to the amount of nicotine in the product. The 21mg patch is usually recommended as a starting point for people who smoke a pack of 20 cigarettes or more daily. From there, following package instructions, the user steps down to lower dose patches until the final step down to no patch. The nicotine patch resembles a square tan or clear bandage. The size depends on the dosage and brand used but generally is between one and two inches square. The nicotine patch should be applied once a day to clean, dry, hairless skin. Manufacturers usually recommend wearing the patch between 16 and 24 hours a day, depending on what youre comfortable with.?? Possible Side Effects Precautions Wearing the nicotine patch to bed at night can disrupt sleep and cause vivid dreams. If this becomes a concern, remove the patch before bed and put a fresh one on the next morning. Also observed in some people who use the patch: Itching, burning or tingling when the patch is applied. This usually goes away within an hour and is a result of nicotine coming in contact with the skin.Redness or swelling at the patch site for up to 24 hours.DizzinessHeadacheUpset stomachVomitingDiarrheaSevere rash or swellingSeizuresAbnormal heartbeat or rhythmDifficulty breathing?? Be sure to consult your doctor before using the nicotine patch and to check in if any of the above symptoms are severe or do not go away. Contraindications Let your doctor know if you have any illnesses, including the following: Chest pains or a recent heart attackHeart diseaseStomach ulcersThyroid diseaseDiabetesSkipped or irregular heartbeatsAllergies to tapes, bandages or medicinesSkin rashes or skin diseasesHigh blood pressureKidney or liver disease?? Media reports of a possible link between the patch and increased cardiovascular risk have since been shown to be unsubstantiated, according to a 2005 study in the American Journal of Cardiology.?? If you take any other medications, be sure to check with your doctor before starting the patch, as it can change the way some medicines work Smoking While Using the Nicotine Patch Do not smoke when using nicotine patches or any other NRT as you run the risk of receiving an overdose of nicotine.Signs of a nicotine overdose may include: DizzinessUpset stomachBad headachesVomitingCold sweatsDroolingConfusionBlurred visionHearing problemsWeakness or fainting?? If you suspect an overdose, take the patch off and call your doctor immediately.

Renaissance Architecture Vs Gothic Architecture - 1390 Words

Renaissance architecture is the European architecture of the period between the early 14th and early 17th centuries in different regions, demonstrating a conscious revival and development of certain elements of ancient Greek and Roman thought and material culture. Stylistically, Renaissance architecture followed Gothic architecture and was succeeded by Baroque architecture. Developed first in Florence, with Filippo Brunelleschi as one of its innovators, the Renaissance style quickly spread to other Italian cities. The style was carried to France, Germany, England, Russia and other parts of Europe at different dates and with varying degrees of impact. Renaissance style places emphasis on symmetry, proportion, geometry and the regularity of†¦show more content†¦The best-known architect associated with the Mannerist style was Michelangelo, who is credited with inventing the giant order, a large pilaster that stretches from the bottom to the top of a faà §ade. He used this in his design for the Campidoglio in Rome. As the new style of architecture spread out from Italy, most other European countries developed a sort of Proto-Renaissance style, before the construction of fully formulated Renaissance buildings. Each country in turn then grafted its own architectural traditions to the new style, so that Renaissance buildings across Europe are diversified by region. Within Italy the evolution of Renaissance architecture into Mannerism, with widely diverging tendencies in the work of Michelangelo and Giulio Romano and Andrea Palladio, led to the Baroque style in which the same architectural vocabulary was used for very different rhetoric. The obvious distinguishing features of Classical Roman architecture were adopted by Renaissance architects. However, the forms and purposes of buildings had changed over time, as had the structure of cities. Among the earliest buildings of the reborn Classicism were churches of a type that the Romans had never constructed. Neither were there models for the type of large city dwellings required by wealthy merchants of the 15th century. Conversely, there was no call for enormous sporting fixtures and public bath houses such as the Romans hadShow MoreRelated Gothic vs. Romanesque Architecture Essay2191 Words   |  9 PagesGothic vs. Romanesque Architecture Missing Figures Where are you when you wake up? Where are you when you are learning? Where are you when you go to pray? Where are you when you go to work? Where are you when you are having fun? The answer is that you are in a building or structure of some kind and style. All of the buildings and structures that one sees around them is designed and built with much thought and care. They are all designed and built by what we call architecture. According toRead MoreSolution to Ignou Papers2652 Words   |  11 Pages==== 2. Does the post – Industrial society differ from the Industrial society? Explain 20 Solution: Yes the Post – Industrial society is differing from the Industrial society because of the following reason: * Limited production (i.e. artisanship vs. mass production) * Primarily an agricultural economy * Limited division of labor. In pre-industrial societies, production was relatively simple and the number of specialized crafts was limited. * Limited variation of social classes * Parochialism—SocialRead MoreHow Will 3d Printing Affect the Process and Quality of Constructing Housing in the 21st Century?6502 Words   |  27 Pageslowering device) as well as the start of domes and arches, as structural components in architecture. Followed by the Middle Ages, which saw a huge emphasis on the construction of massive public buildings such as Cathedrals, Churches, Fortifications and Castle. Medieval techniques, and especially gothic architecture had a huge impact on architecture. The development of vaults, flying buttresses and pointed gothic arches, allowed for the possibility of these huge scale monuments to be built, even thoughRead More`The Italian Retreat from Modern Architecture: Gio Ponti, Neoliberty and others3151 Words   |  13 Pagesï » ¿`The Italian Retreat from Modern Architecture: Gio Ponti, Neoliberty and others Italy is decentralized in Europe, south side reppin Transition Interview Difficult position in the way they accept refugees, pressures Italy have never been absolute 1860- unified by man but not unified in region, approaches to life, culture and language vary great amounts between cities of Italy. 1959? Reyner Banham Neoliberty, the Italian retreat from modern architecture Attacking unideolistic new ItalianRead MoreEssay about Summary of History of Graphic Design by Meggs14945 Words   |  60 Pagesof newborn calves (LOL). - The codex replaced the scroll, as it consisted of stacked pieces of paper much like a modern book. - Graphic symbols became a representation of religious belief during the Roman Empire. - Rome’s legacy includes architecture, engineering, language, law and literature. - Just as the invention of printing launched a quiet revolution in Chinese culture, alphabetic writing on papyrus slowly transformed Western society. - Alphabetic writing was spread by armies, traders

College Skills for Homeschoolers

If your homeschooled student is planning to attend college, make sure he or she is not only prepared academically  but is also well-equipped with these seven skills. 1. Meeting deadlines One advantage homeschooled teens often have over their traditionally-schooled peers is that they have learned to effectively manage their time. By high school, most homeschooled teens are working independently, scheduling their day, and completing tasks with limited supervision. However, because homeschooling allows the flexibility to be self-paced, homeschooled teens may not have a great deal of experience meeting firm  deadlines. Encourage your student to use a planner or calendar to track deadlines. Teach him to break down long-term assignments, such as research papers, creating deadlines for each step. Assign short-term deadlines for other assignments, as well, such as â€Å"read three chapters by Friday.† Then, hold your student accountable for meeting these deadlines by imposing consequences, such as making up incomplete work on the weekend,  for missed deadlines. It can be difficult to follow through on such consequences when considering the flexibility that homeschooling offers, but a college professor isn’t going to be lenient with your teen when his poor planning causes him to miss assignment deadlines. 2. Taking notes Because most homeschooling parents don’t teach in a lecture style, many homeschooled kids haven’t had much  experience taking notes. Note-taking is a learned skill, so teach your students the basics and provide opportunities for them to practice. Tips for taking notes include: Listen for repeated words and phrases. If an instructor repeats something, it’s usually important.Listen for key words and phrases such as: first, second, because, for example, or in conclusion.Listen for names and dates.If the instructor writes something down, your student should write it down, too. Similarly, if a word, phrase, or definition is displayed on the board or screen, write it down.Teach your student to abbreviate, use symbols, and develop his own shorthand. He should use these tools to note key concepts and ideas rather than trying to write complete sentences.Instruct your student to go over notes at the conclusion of the lecture, adding in any important details that he remembers, making sure that what he wrote down makes sense to him, and clarifying anything that doesn’t. How to practice taking notes: If your student  attends a co-op, have him take notes during any lecture-style classes he takes.Ask your student to take notes while watching videos or online lessons.If you attend church, encourage your children to take notes during the sermon.Encourage your student to take notes as you read aloud. 3. Self-advocacy Because their primary teacher has always been a parent who knows and understands their needs, many homeschooled teens may find themselves lacking in self-advocacy skills. Self-advocacy means understanding your needs as relates to what is expected of you and learning how to express those needs to others. For example, if your homeschooled teen has dyslexia, he may need additional time to complete tests or in-class writing, a quiet room for testing, or leniency on grammar and spelling requirements for timed writing assignments. He needs to develop the skill to express those needs to professors in a clear, respectful manner. One way to help your teen develop self-advocacy skills is to expect him to practice them before graduation. If he takes classes outside of the home, such as a co-op or dual-enrollment setting, he needs to be the one to explain his needs to his teachers, not you. 4. Effective written communication skills Students should perfect a variety of written communication skills such as essays (both timed and untimed), email correspondence, and research papers. To prepare your students for college-level writing, consistently focus on the basics throughout high school until they become second nature. Make sure they’re using correct spelling, grammar, and punctuation. Don’t allow your students to use â€Å"text speak† in their written work or email communications. Because your students may need to communicate via email with professors, make sure they are familiar with proper email etiquette and know the correct form of address for their instructor (i.e. Dr., Mrs., Mr.). Assign a variety of writing assignments throughout high school such as: Compare and contrast essaysExpository writingDescriptive essaysNarrative essaysLetters – business and informalResearch papersCreative writing Consistently building basic written communication skills is vital to your students success in this area. 5. Personal responsibility for coursework Make sure  that your  teen is prepared for taking responsibility for his own schoolwork in college.  In addition to meeting deadlines, he’ll need to be able to  read and follow a course  syllabus, keep track of papers, and get himself out of bed and to class on time. The easiest way to prepare your student for this aspect of college life is to begin handing over the reins in middle school or early high school. Give your student an assignment sheet and hold him responsible for completing his assignments on time and adding key dates to his planner. Help him work out a system for keeping track of papers. (Three-ring binders, hanging file folders in a portable file box, and magazine holders are some good options.) Give him an alarm clock and expect him to get himself up and started by a mutually agreeable time each day. 6. Life management Your teen also needs to be prepared to handle personal tasks on his own such as  laundry, meal planning, grocery shopping, and  making appointments. As with teaching personal responsibility, life management skills are best taught by handing them over to your student during his high school years. Let your student do his own laundry and plan and prepare at least one meal each week, making a grocery list and shopping for needed items. (Sometimes it’s easier for one person to do the shopping, so it may not be practical for your teen to do the shopping, but he can add the needed ingredients to your grocery list.) Let  your older teens  make their  own doctor and dental appointments. Of course, you can still go with  them to the appointment, but some teens and young adults find it very intimidating to make that phone call. Let them get in the habit while you can still be nearby in case they have any questions or run into any problems. 7.Public speaking skills Public speaking consistently tops people’s list of fears. While some people never get over the fear of speaking to a group, most find that it becomes easier by practicing and mastering some basic public speaking skills, such as body language, eye contact, and avoiding words such as â€Å"uh,† â€Å"um,† â€Å"like,† and â€Å"you know.† If your student is part of a homeschool co-op, that can be an excellent source for public speaking practice. If not, check to see if you have a local Toastmaster’s Club in which your teen could get involved. You might also inquire to see if a member of the Toastmaster’s Club would teach a speech class for teens. Many students who are able to participate in such a class may be surprised to find it much more fun and less nerve-wracking than they had imagined. Make sure your homeschooled student is prepared for the rigors of college life by adding these vital skills to the academics youre already working on.

Usmle Step 2 Ck Review Notes Free Essays

J 1 J Premenopausal Pelvic mass ?-hCG test + Sono: simple cyst + Sono: complex/solid + Acute severe pain  © Elmar P. Sakala, MD, MPH J J (c) Elmar P. Sakala, MD MPH (2011) 2 CV disease Hormone Therapy J Recommendations: HT (E+P) 2003 Critique of WHI study  © Elmar P. We will write a custom essay sample on Usmle Step 2 Ck Review Notes or any similar topic only for you Order Now Sakala, MD, MPH  © Elmar P. Sakala, MD, MPH (c) Elmar P. Sakala, MD MPH (2011) 3 Menopause WHI â€Å"WINDOW of OPPORTUNITY† Critical period for maximum response to HT 10 yrs too Late!! Start HT here  © Elmar P. Sakala, MD, MPH Nonoral Options in Hormone Therapy, OBG Management supplement to November 2004 Not Here Natural History Treatment Non-contraceptive Benefits Steroid Contraception Progestin Progestin Progestin Hysterectomy v Dysmenorrhea v DUB v PID v Ectopic preg suppress PG release stabilizes endometrium thickens cervical mucus thickens cervical mucus TAH, BSO  © Elmar P. Sakala, MD, MPH  © Elmar P. Sakala, MD, MPH (c) Elmar P. Sakala, MD MPH (2011) 4 Metabolic Effects Steroid contraception Healthy lipid profile (^ HDL, v LDL) Oral Contraceptives Risk of CANCER Estrogen mediated THROMBOSIS ^ venous arterial v Endometrial ^ Cervical = ^ Breast Ovarian Unhealthy lipid profile (v HDL, ^ LDL) Progestin mediated  © Elmar P. Sakala, MD, MPH Contraception Review Intrauterine Contraception Steroid Contraception  © Elmar P. Sakala, MD, MPH (August, 2011)  © Elmar P. Sakala, MD, MPH (c) Elmar P. Sakala, MD MPH (2011) 5 Contraceptive Failure Rates Reversible Methods Basic Principles of Contraception Avoid contraindications  © Elmar P. Sakala, MD, MPH  © Elmar P. Sakala, MD, MPH Basic Principles of Contraception Avoid contraindications FEW Complic Completed childbearing Sterlization  © Elmar P. Sakala, MD, MPH (c) Elmar P. Sakala, MD MPH (2011) 6 FEMALE – Next step in management? -hCG ? -hCG ? -hCG ? -hCG PREGNANCY – Next step in management? OB sono OB Sono OB Sono OB SONO J J (c) Elmar P. Sakala, MD MPH (2011) 7 Pathophysiology J F E T U S Vol of RBC needed: varies from 0. 1mL to 450 mL M O M J Mechanism of FHR Decelerations HEAD Compression Compression CORD PLACENTAL Insufficiency  © Elmar P. Sakala, MD, MPH (c) Elmar P. Sakala, MD MPH (2011) 8 Fetal Fibronectin â€Å"Trophoblast Glue† Matrix that bonds Trophoblast to Decidua Predictor of Preterm Delivery  © Elmar P. Sakala, MD, MPH Cervical Length Vaginal Sonogram Saggital Image Normal: 25 mm 1 3 4 (c) Elmar P. Sakala, MD MPH (2011) 9 Described in notes p. 44 Agent TOCOLYTIC agents Side Effects Contraindications J MgSO4 ? -Adrenergic Agonists Ca++ channel blockers PG synthetase inhibitors Muscle weakness Renal insuffic Respiratory depression Myasthenia gravis Pulmonary edema v? BP, tachycardia, ^ glucose, v K+, Pulmonary edema Tachycardia, v BP Myocardial depression Cardiac disease Diabetes Uncontrolled ^T4 Cardiac disease Hypotension Oligohydram, Gestational age IU closure PDA, Necrotiz enterocolitis 32 weeks J (c) Elmar P. Sakala, MD MPH (2011) 10 How to cite Usmle Step 2 Ck Review Notes, Papers

An Analysis of Frida Kahlo and Carmen Lomas Garza free essay sample

Cultural Versus Opportunities: An Analysis of Frida Kahlo And Carmen Lomas Garza Words 1,715 Both of these paintings show the love and desire to hold on to ones heritage and family traditions which is extremely important in Hispanic families. Both with vivid colors and images. In Kahlo’s â€Å"Self Portrait on the Border Line Between Mexico and the United States†, even though she is a Mexican woman living in a non-Mexican country, she is able to accept both sides and hold on to her own Mexican heritage and culture which it seems she preferred. In Garza’s â€Å"Camas Para Suenos†(Beds for Dreams), Garza is showing the love and closeness she had with her sister and how her mother allowed them to dream and reach after those dreams as they kept in touch with their heritage and culture which is evident in her work. Holding on to ones own culture is important. It should not be forgotten. It should be embraced and tought to ones own children. As Kahlo’s painting depicts, learning of others heritage and culture can be another way of embracing your own and learning to appreciate and discover it all over. The loss of culture can be devastating to the identity of nations and families. Brief facts about artist Frida Kahlo’s childhood and adult years introduce her complex life of the mind and spirit. Frida. ( Dec 4, 2002) The Christian Century from Fine Arts and Music Collection via Gale) The artwork evokes magical realism without attempting to imitate the gifted Mexican artist, who painted what she sees in her heart, on top of what she sees with her eyes. Kahlo’s Self Portrait on the Border Line Between Mexico and the United States, painted in 1932, is a very revealing work that gives a glimpse into the heart, mind, and soul of Kahlo herself. The painting speaks of the connection, or the lack thereof, between Mexico and the United States. It is a very subtle, yet amazingly powerful painting. Kahlo did this painting while she waited for her husband, Diego Rivera, to finish painting his mural in Detroit. During this time she suffered a traumatic miscarriage and was admitted to the Henry Ford hospital. She felt very lonely and isolated from life and all that she knew. This painting is an expression of how Kahlo viewed herself stuck somewhere in limbo, in a place far away from her beloved Mexican homeland. P 34(1) In the front, at the bottom, of each side of the painting lies roots. On the side that is connected with the United States the roots are actually cables or cords that come from some industrial object. The roots of these objects are black and take different shapes such as long and reaching or curled. They are clearly like industrial cords and are not necessarily reflective of anything that is natural. On the other side, the Mexican side, the roots are actual roots of plants that grow out like natural roots, reaching into the ground. What makes these roots significant, aside from their obvious differences, lies in the fact that one of the cords reaches down, and under Kahlo, touching the roots of another plant. That plant appears to have brown pods which could well represent how the industrial unnatural reality of the United States is smothering and killing all that is natural, and in this case Mexico as well. It is pervasive and dark in nature. This is further emphasized by the fact that Mexico’s roots are very natural and organic, whereas the United States’ roots are dark, and clearly manmade and unnatural. In this painting, show Kahlo wearing an dress that is very reminiscent of an American dress. It is a simple dress but it is pink and has many ruffles along the bottom of the skirt. In some ways it seems reflective of the Civil War era, without the presence of a powerful hoop skirt underneath, or perhaps a dress of the old West days in the United States. Whatever the case it is not a dress that is reflective of Kahlo but of the United States . In addition, in the hand that is facing towards Mexico Kahlo holds a Mexican flag. In the hand that is facing towards the United States she holds a cigarette. Her hands are crossed. This all suggests influences she likes, dislikes, and is perhaps confused by. She is, in this picture, part of both worlds and clearly the side that is relative to Mexico is patriotic and very Mexican in spirit. But the hand that holds a cigarette clearly speaks of the industrial and damaging nature of the United States, perhaps suggesting the negative influence the United States has on Mexico. As it pertains to religious icons or images there are no obvious religious images on the side with the United States. However, when one asks that question, regarding religious, one may well argue that industrialization, manufacturing, and smokestacks, is the religion of the United States. On the Mexican side are many references to the history and the religion of Mexico. There is what appears to be a goddess statue with two infants, a statue from ancient Aztec religions perhaps, and the ancient architectural elements of Mexico. The entire natural presentation of Mexico is offered in a religious nature, even incorporating a skull which could well relate to the Day of the Dead, a religious holiday for Mexico. The religion of the United States, in this case, would be mass production, destruction of the earth, and money. The fact that Kahlo is in the center of the painting does not suggest any common ground, but rather speaks, it would seem, of some internal struggle within Kahlo as she sees her nation influenced and perhaps destroyed by the United States. She is clearly a part of the United States and if one looks at her life one can see that her involvement with Diego clearly put her in close relationship with the dealings of the United States. But, she is clearly sending an image that indicates she is not happy with the United States and finds far more peace and beauty in Mexico, her home. Schjeldahl, P. (Nov 5, 2007) Kahlo is authentically a national treasure of Mexico, a country that her work expresses not merely as a culture but as a complete civilization, with profound roots in several pasts and with proper styles of modernity. P (92) In Carmen Lomas Garzas painting â€Å"Camas Para Suenos† (Beds for Dreams), two children can be spotted, sitting on the roof of their home, gazing up at the full moon. Beneath them in the bedroom, their mother is making the bed ready for the children to sleep in, and a crucifix can be seen hanging on the wall behind her. This image recalls a time of simplicity, where children can peacefully sit and star gaze, while their apron-wearing mothers make the beds in which they will sleep in. The image is portrayed through the scope of a child, and its message calls for Mexicans to remember their culture. Roback, D. (July 13, 1990). In the midst of racism and discrimination, Garza tries not to draw upon any of that; instead, she looks to the family for resolution Mexican-American Garza has generously afforded readers a glimpse of her cherished childhood in a poor rural Hispanic community. Her daily activities and fond memories are related in paintings . Of the painting Garza stated â€Å"My sister and I used to go up on the roof on summer nights and just stay there and talk about the stars and the constellations. We also talked about the future. I knew since I was 13 years old that I wanted to be an artist. And all those things that I dreamed of doing as an artist, I’m finally doing now. My mother was the one who inspired me to be an artist. She made up our beds to sleep in and have regular dreams, but she also laid out the bed for our dreams of the future. P 54(2) This painting was inspired by youthful conversations with her sister and their desire to become artists and focuses on the joyful memories of everyday life with her family. The two sisters, Garza being one, are sitting on the roof close to the moon and stars, sharing their dreams with on another. The fact that they were Mexicans, in the United States did not change the fact that they had dreams they wished to accomplish.

Company Valuation Essay Example

Company Valuation Essay In this papers, we describe generally the four main groups comprising the most widely used company valuation methods: balance sheets-based methods, income statements – based methods, mixed methods, and cash flow discounting – based methods. Then we present a real – life example to illustrate the valuation of a company – Biotechnology S. A in different methods. We conclude the paper with some recommendation on valuate Biotechnology. 2. Valuation methods For anyone involved in the field of corporate finance, understanding the mechanisms of company valuation is an indispensable requisite. This is not only because of the importance of valuation in acquisitions and mergers but also because the process of valuing the company and its business units helps identify source of economic value creation and destruction within the company. The methods for valuing companies can be classified in six groups: MAIN VALUATION METHODS BALANCE INCOME MIXED CASH FLOW VALUE OPTIONS SHEET STATEMENT (GOODWILL) DISCOUNTING CREATION . Book value . Multiples Classic Equity cash flow EVA Black and . Adjusted . PER Union of Dividends Economic Scholes . We will write a custom essay sample on Company Valuation specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Company Valuation specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Company Valuation specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Sales Free cash flow Investment value European profit . Liquidation . P/E EBITDA Accounting Capital cash flow Cash value option value . Other Experts APV added Expand . Substantial multiples Abbreviated CFROI the project value income Delay the others investment Alternative uses 2. 1 Balance sheets – Based methods (shareholders’Equity) These methods seek to determine the company’s value by estimating the value of its assets. These are traditionally used methods that consider that a company’s value lies basically in its balance sheet. They determine the value from a static viewpoint, which, therefore, does not take into account the company’s possible future evolution or money’s temporary value. Neither do they take into account other factors that also affect the value such as: the industry’s current situation, human resources or organization problems, contracts, etc. that do not appear in the accounting statements. Some of these methods are the following: Book value, adjusted book value, liquidation value, and substantial value 2. Income Statement – Based methods Unlike the balance sheet- based methods, these methods are based on the company’s income statement. They seek to determine the company’s value through the size of its earnings, sales or other indicators. Thus, for example, it is a common practice to perform quick valuations of cement companies by multiplying their annual production capacity in metric tons by a ration (multiple). It is also common to value car park ing companies by multiplying annual premiums Assignment: Company Valuation Case Study: BioTechnology Student: Tran Ngoc Minh – MEBF 5th y a multiple. This category includes the methods based on the PER: according to this method, the share’s price is a multiple of the earnings. Value of earnings. PER: According to this method, the equity’s value obtained by multiplying the annual net income by a ratio called PER (price earning ratio), that is: Equity value= PER x earnings Value of the dividends: Dividends are the part of the earnings effectively paid out to the shareholder and, in most cases, are the only regular flow received by shareholders. According to this method, a share’s value is the net present value of the dividends that we expect to obtain from it. In the perpetuity case, that is, a company form which we expect constant dividends every year, this value can be expressed as follow: Equity value=DPS/Ke Where: DPS – dividend per share distributed by the company in the last year Ke- required return to equity If, on the other hand, the dividend is expected to grow indefinitely at a constant annual rate g, the above formula become the following: Equity value =DPS/(ke-g) Where: DPS is the dividends per share for the next year. Sale multiplies: This valuation method, which is used in some industries with a certain frequency, consists of calculating a company’s value by multiplying its sales by a number. Price/sales=(price/earnings) x (earnings/sales) 2. 3 Goodwill –Based methods Generally speaking, goodwill is the value that a company has above its book value or above the adjusted book value. Goodwill seeks to represent the value of the company’s intangible assets, which often do not appear on the balance sheet but which contribute an advantage with respect to other companies operating in the industry. 2. 4 Cash flow discounting – Based method These methods seek to determine the company’s value by estimating the cash flow it will generate in the future and discounting them at a discount rate matched to the flows’ risk. Cash flow discounting methods are based on the detailed, careful forecast, for each period, of each of the financial items related with the generation of the cash flows corresponding to the company’s operation, such as, for example, collection of sales, personnel, raw material,†¦ General method for cash flow discounting The different cash flow discounting –based methods start with the following expession: V= CF1 + CF2 + CF3+†¦+ CFn+VRn (1+k) (1+k)2 (1+k)3 (1+k)n Where: Cfi =cash flow generated by the company in the period i Vn = residual value of the company in the year n K =appopriate discount rate for the cash flows’ risk Assignment: Company Valuation Case Study: BioTechnology Student: Tran Ngoc Minh – MEBF 5th 3. Investment decision process applied for preparing the long term financial plan of Biotechnology S. A Investment Plan Debt table (use past contract) Depreciation Plan INVESTMENT PLAN PROJECTIONS Criteria to use Potential solutions Information on biotech shares Selection of a solution Income Statement (forecast) Financial needs Cash Flow Sale forecast Financial analysis (past data) . Liquidity/solvency . Debt capacity . Return for shareholders Valuation of biotech II. Background of Biotechnology S. A 1. Company porfile Year of establishment: 1990 Operation fields: Manufactures and sells instruments for the biotechnological industries Capital: 10 000 000EUR divided into 100 000shares with a face value 100 euro each. Owners: Mr. Vincent-current resident: 60% equivalent to 60 000 shares Other directors of the company: 10% equivalent to 10 000 shares Venture capital organization: 30% equivalent to 30 000 shares Market: France and other foreign countries (mainly in European countries) Customers: Large corporations: LAFARGE, LVMH, BSN†¦ Small industries Research laboratories. Assignment: Company Valuation Case Study: BioTechnology Student: Tran Ngoc Minh – MEBF 5th Long term Target: Maintenance of a growth rate of 20 to 30% (for the next 10 years) Development plan: Company will undertake geographical diversification: Europe market (in particular in Germany); American and South Asian Markets. 2. Financial figures and operation results Balance sheet ASSET 1998 1999 Cash 1,700 1,100 Receivables 9,600 13,850 Inventories 8,450 11,050 Other 1,000 1,200 Total current asset 20,750 27,200 Plantequip 31,952 42,602 Depreciation 3,452 8,852 Net fixed assets 28,500 33,750 Total asset 49,250 60,950 2000 LIABILITIES 2,900 Payables 16,250 Acrues expenses 14,500 St Bank loans 2,150 35,800 Total current liab. 0,032 LTMT loans 14,752 Equity 45,280 Retained earnings 81080 Liabilequity (in thousands of Euros) 1998 1999 2000 7000 9000 11500 2,400 4,850 5,250 2,850 4,600 3,330 12,250 18,450 20,080 9,000 13,500 27,500 10,000 10,000 10,000 18,000 19,000 23,500 49,250 60,950 81,080 Income Statement (in thousands of Euros) 1998 1999 2000 63,300 83,000 110,020 17,940 23,5 00 30,810 45,360 58,500 79,210 34,216 38,150 41,986 11,144 21,350 37,224 2,400 5,950 8,800 8,744 15,400 28,424 2,080 2,500 3,600 6,664 12,900 24,824 1,999 3,870 7,447 4,665 9,030 17,377 Sales COGS Gross margin General admin expenses Operation income bf depreciation Depreciation Operating income Interest expenses Income bf tax Incometax NI 3. SWOT analysis Strengths: †¢ Solid leadership; †¢ Diversified Customer Base, including some big names (Lafarge, LVMH, BSN); †¢ Weaknesses: Dominant shareholder, reluctance in having new shareholders; Assignment: Company Valuation Case Study: BioTechnology Student: Tran Ngoc Minh – MEBF 5th †¢ †¢ †¢ †¢ †¢ Export accounts for 30% of the total sales in 2000 and is moving fast; Company is in high growth situation and this situation will continue for the next 10 years; Company’s ability to increase production capacity without any difficulties; Steep growth in sales, production cost controlling efforts and ability; Financial supports from Banks. Opportunities: †¢ Preparedness of the company in capturing the market opportunities; Low inventory level; Dependent on banks for financial resources; Cash flow is not sufficient. †¢ †¢ †¢ Threads: †¢ †¢ †¢ †¢ †¢ †¢ High growth sector with very little competition at both local and international market; Expansion of existing exported market (European countries); New exported market (USA, some fast growing Asian Countries); Geographic diversification possibilities. †¢ Multinational companies are considering entering into the field; Technological risks due to rapid technological changes in the field of biotechnology; To maintain technological superiority, heavy investment is required. III. Biotechnology S. A valuation 1. Financial analysis using past data From the balance sheet and income statement of Biotech S. A, we draw out a general financial picture through the main financial figures as below: (in thousands of Euros) Year Capital Employed Fix assets Working capital Total Net Financial Debt Equity Total Operation Sale Progression Working capital in days of sale Trade Receivable in days of sale Inventory in days of sale Trade Payable in days of sale 1998 28,500 9,650 38,150 10,150 28,000 38,150 1999 33,750 12,250 46,000 17,000 29,000 46,000 31% 53 60 48 39 2000 45,280 16,150 61,430 27,930 33,500 61,430 33% 53 53 47 38 55 55 48 40 Assignment: Company Valuation Case Study: BioTechnology Student: Tran Ngoc Minh – MEBF 5th Capital Employed turnover 1. 66 1. 80 1. 79 Margins Gross margin 72% 70% 72% Operating margin 14% 19% 26% Net margin 7% 11% 16% Returns ROCE before taxes 23% 33% 46% effective taxe rate 23% 23% 23% ROCE after tax 18% 26% 36% ROE 17% 31% 52% Debt and Solvency Long + Med term debt/NI+ Dep 127% 90% 105% Gearing (debt/equity) 36% 59% 83% Interest expense/EBITDA 19% 12% 10% Long term + Med term debt/Equity 32% 47% 82% Liquidity Current ratio 1. 69 1. 47 1. 78 Quick ratio 0. 92 0. 81 0. 95 Cash ratio 0. 14 0. 06 0. 14 1. 1 General analysis The above figures shown out that the Biotech S. A is in quite good situation on business and its financial results. Almost of financial ratios are improving by the time with high percentage, bringing a big benefit for its shareholders. Despite growing competition on the market for biotechnology products, company’s sales have significantly increased by more than 30% over the periods. However, capital employed at the end of 1999 and 2000 are respectively 20% and 30% higher than previous year because the Capital Employed Turnover has slightly decreased from 1,80 in 1999 down to 1,79 in 2000. This is mainly due to the increase in fixed assets investment (+18% in 1999 and + 34% in 2000). Operating margin and net margin have significantly increased with the average growth rate is about 5% per year. Thanks to high growth rate of net margin, ROCE after tax and return on equity have grown impressively. This is really good performance in the context of managing return for shareholders. During three years (from 1998 to 2000) the company has successfully optimized leverage ratio (gearing). At the end of 2000 the gearing is 0,83 (instead of 0,59 a year before) so that shareholders benefit from a rather strong financial leverage with a return on equity as high as 51. 7% in 2000 and 31. 14% only in 1999. The level of debt may become a concern in the future. The liquidity ratios are acceptable, though not that strong. 1. 2 Specific analysis on the four key financial ratios †¢ Solvency problem †¢ Debt capacity †¢ Return for share holders Assignment: Company Valuation Case Study: BioTechnology Student: Tran Ngoc Minh – MEBF 5th †¢ 1. 2. 1 Cost of capita l in comparison to ROE Solvency problem Solvency ratio (A) = Interest expense EBITDA This ratio must be as low as possible to ensure the solvency of the company. Two limits reflect solvency situation of a company: If A40%, there will be more than 50% of solvency problem happens in the next 3 years. In Biotechnology case, solvency ratio is always less than 20% during the past three year. It is 19% on the year 1998, 12% on the year 1999, and 10% on the year 2000. This means such ratios are improving from year to year, the company are adjusting its solvency situation follow up in a good direction. Quick Ratio (B) = Cash + Account Receivable Account payable + Accrued expense + Bank loan This ratio represent the level of cash in out; if this ratio is equal to 1, that means the company have sufficient cash to run its business. In Biotechnology case, quick ratio is 92% on the year 1998, 80% on the year 1999, and 95% on the year 2000. These figures are nearly equal to 100% and remarkably increased between 1999 and 2000. Though it may leads to some shorten cash issue would happen but it is very good situation if the company continuously keeps at around this level. In practice, optimal of this ratio is 103-105%. For conclusion, solvency of Biotechnology S. A is in quite good situation. 1. 2. 2 Debt capacity In classic measure using capital structure of company: Debt Equity ratio (D/E) = Long term + Medium term debt Total Equity In theory, it is ideally for the company to have this ratio equal to 1, which they can be used up their resources and enjoy the fair interest borrowing rate. In Biotechnology case, debt equity ratio is 32% on the year 1998, 47% on the year 1999, and 82% on the year 2000. That means in 2000 the company almost used up their debt capacity, only 18% is left or equivalent to EUR6mio. This shows that debt capacity of company is not sufficient to finance for the investment plan. By cash flow approach, we can measure if the firm can pay the debt or not: Debt capacity = Long term + Medium term debt Cash flow Assignment: Company Valuation Case Study: BioTechnology Student: Tran Ngoc Minh – MEBF 5th In Biotechnology case, debt capacity in cash flow approach is 127% on the year 1998, 90% on the year 1999, and 105% on the year 2000. According to international practice, a company, which is in good debt payment ability, should reach the 4 years of cash flow in debt capacity. This means: in 2000: Debt capacity left = (26. 117*4-27. 500)=77. 208 million euro. In short, from the two approach ways of debt capacity, company do not have any problem in cash flow of payment, only needs to modify capital structure or debt equity ratio, debt capacity therefore will be improved. In addition, company should have look on return on investment to ensure that it is higher than cost of debt. Moreover, according to their investment plan, Biotechnology needs EUR55million in year 2001, whereas total equity (equity + retained earning) = EUR33mio and the company has already indebtedness of EUR27. 5mio. This raise the critical issue that Biotechnology need to structure their debt, base on their resources to have more flexibility in capital utility. 1. 2. 3 Return for shareholders Dividend policy: From the figures on Balance sheet and Income Statement, we have the dividend policy of the company during the past 3 years: (in thousand of euro) Years 1998 1999 2000 Net Income 4,665 9,030 17,377 Dividend 3,665 4,530 5,400 New Retain Earning 1,000 4,500 11,977 Retained earnings end of period 18,000 19,000 23,500 Total R. E in B/S 19,000 23,500 35,477 We see the dividend is increasing regularly during the past 3 years. It is quite good signal for the shareholders. Payout Ratio: Payout ratio = Dividend Net income 1998 3,665 4,665 79% 1999 4,530 9,030 50% 2000 5,400 17,377 31% Years Dividend Net income Pay out ratio Payout ratio is depended on dividend policy of the company, it has not fully reflected if company is creating value for shareholders or not. Thus, when payout ratio is declining as the above; shareholders must refer to other indicator – that is return on equity (ROE) in comparison to that ratio of market. Assignment: Company Valuation Case Study: BioTechnology Student: Tran Ngoc Minh – MEBF 5th Return on Equity or earning for shareholders: ROE = Net income Total Equity Years 1998 1999 2000 Net Income 4,665 9,030 17,377 Total equity 28,000 29,000 33,500 ROE 17% 31% 52% Although payout ratio is declining but return on equity is increasing (from 17-52%). It is understandable and justify that company has kept a certain amount of net income each year as retained earnings (retained earnings is increasing from 28-70%) and reinvest it for operations to obtain benefits. Thus, we can conclude that the company is increasing the value for shareholders. 1. 2. Cost of capital in comparison to ROE Using CAPM to calculate the cost of capital of the company, we have: k = Rf + Beta*{E(Rm)-Rf] Rf: Risk free rate E(Rm)-Rf: market risk premium Beta: volatility Currently (2000), E(Rm)-Rf=6%, with Rf=5,3%, E(Rm)=11,3% Rf is depended on payback period and maturity for 5 years, 10years, or 3 years. This case we choose 5 years. Years 1998 1999 2000 Rf 6. 7% 6. 1% 5. 3% Beta 1. 6 1. 6 1. 6 E(Rm)-Rf 4 . 6% 5. 2% 6. 0% K 14. 06% 14. 42% 14. 90% ROE 17% 31% 52% ROE is always higher than k in past 3 years; means investment return is enough to cover cost of capital. Seemingly, k is nearly unchanged during the years (around 15%), whereas ROE is increasing from 16% up to 52%, hence, shareholders could have been convinced by the good financial performance of the company. Moreover, Biotechnology can form a view of requesting shareholders to issue new shares. In summarize, taking the look at Balance sheet and income statement, it is showing that Biotechnology’s business is in good condition; cash solvency problem is quite good and company is creating value for the shareholders. However, taking further look on other ratio, we can find several hurdles, such as Debt/Equity ratio or problem on Debt capacity. Since Where: Assignment: Company Valuation Case Study: BioTechnology Student: Tran Ngoc Minh – MEBF 5th the company may have to keep investing to develop R D on fast growing markets, an increase in equity would be welcome. 2. Valuation Process 2. 1 Book value methods Equity Retained Earning New Retain Earning Total book value 2. 2 Market value through accounting 10,000 23,500 11,977 45,477 Market value = book value * market to book value ratio Average market to book value ratio of Biotechnology sector is 5. 3, we suppose that this ratio of Biotechnology is around this figure: 5. 3. Therefore, market value = 45,477*5. 3 = 241,028 2. Market value through PER Market value = PER * Net earnings Average PER ratio of Biotechnology sector is 12. 5, we suppose that this ratio of Biotechnology is around this figure: 12. 5. Therefore, market value = 12. 5*17. 377= 217,000 We may average the two market value to determine approximate value of the company as below: Market value of company= (241,028+217,000)/2=229,014 2. 4 Discounted cash flow method Estimate and calculation of company value Assignment: Company Valuation Case Study: BioTechnology Student: Tran Ngoc Minh – MEBF 5th Investment Plan 2001 1 4 13 14 15 8 1 55 2001 1 4 4 0. 2 42 16. 8 25. 2 16. 8 3. 36 25. 2 8. 5. 9 17. 86 2001 1 1. 00 0. 50 0. 50 0. 50 2. 50 2002 2 4 11 16 15 4 1 51 2002 2 4 8 0. 4 42 16. 8 25. 2 33. 6 6. 72 50. 4 16. 8 3. 5 27. 42 2002 2 1. 00 0. 50 0. 50 0. 50 5. 00 7. 50 2003 3 6 5 8 2 21 2003 3 8 0. 4 19 7. 6 11. 4 41. 2 8. 24 61. 8 20. 6 2. 4 31. 64 2003 3 1. 00 0. 50 0. 50 0. 50 5. 00 7. 50 2004 4 3 6 3 12 2004 4 8 0. 4 9 3. 6 5. 4 44. 8 8. 96 42 14 1. 8 25. 16 2004 4 1. 00 0. 50 0. 50 0. 50 2. 50 2005 5 2 6 3 11 2005 5 8 0. 4 8 3. 2 4. 8 48 9. 6 21. 6 7. 2 0. 3 17. 5 2005 5 1. 00 0. 50 0. 50 0. 50 2. 50 2005 5 227. 5 0. 20 22% 50. 05 17. 5 32. 55 9. 765 22. 785 11 29. 285 154. 248 total 8 35 35 50 12 10 150 Construction Equipment for RD center Equipment for new Prd unit Equipment for existing unit Equity participate Working capital total Depreciation plan Construction Cal Contruction Basis Depreciation (20 year) Equipment total Ordinary material equips (40%) Shopiticate Mat (60%) Cal basis prd Depr of Ordinary Mat(20%) Cal shophiticate Mat Depr of Shop Mats(1/3) Depr Past inv Total Depr Debt table LT MT Loan total 8 36 1. 8 120 48 72 48 36. 88 21. 6 MT Loan Total debt repay Sales plans Sales Growth Margin% Magin Depreciation Earning Before Taxes Taxes (30%) Net Earning Dividents Retain earning + depr Net Cash Flow Loan in 1996 Loan in 1997 Loan in 1998 Loan in 1999 Loan in 2000 Tenor Amt 10 10 10 5 10 5 10 5 3 10 Year 2001 2002 2003 2004 1 2 3 4 128. 2 141. 2 157. 95 189. 5 1. 00 0. 10 0. 12 0. 20 30% 26% 24% 22% 38. 46 36. 712 37. 908 41. 69 17. 86 27. 42 31. 64 25. 16 20. 6 9. 292 6. 268 16. 53 6. 18 2. 7876 1. 8804 4. 959 14. 42 6. 5044 4. 3876 11. 571 14 0 0 0 18. 28 33. 9244 36. 0276 36. 731 18. 28 52. 2044 88. 232 124. 963 Assignment: Company Valuation Case Study: BioTechnology Student: Tran Ngoc Minh – MEBF 5th Income Statement forecast Sales Margin on sales (hypothesis 1) EBITDA Depreciation EBIT Interest of LMD EBT Tax (28%) Net income Dividends Retained earnings 2001 128. 2 0. 3 38. 46 16. 96 21. 5 2. 63 18. 87 5. 28 13. 58 2 11. 58 2002 141. 2 0. 26 36. 712 28. 92 7. 79 2. 4 5. 39 1. 51 3. 88 3 0. 88 2003 157. 95 0. 24 37. 908 34. 24 3. 67 1. 85 1. 82 0. 51 1. 31 1. 31 2004 189. 5 0. 22 41. 69 28. 36 13. 33 1. 3 12. 03 3. 37 8. 66 8 0. 66 2005 227. 5 0. 22 50. 05 22. 2 27. 85 0. 75 27. 1 7. 59 19. 51 12 7. 51 Earnings before interest and tax (EBIT) Years Tax paid on EBIT (28%) Net income without debt + Depreciation increase in fixed asset increase in WC Free cash flow PV (15%) Value of operations 28% 5% 252. 48 2001 21. 5 6. 02 15. 48 16. 96 46 4. 29 -17. 85 -15. 52 2002 7. 79 2. 18 5. 61 28. 92 46 4. 72 -16. 19 -12. 24 2003 2004 3. 67 13. 33 1. 03 3. 73 2. 64 9. 6 34. 24 28. 36 19 9 5. 19 5. 71 12. 69 23. 25 8. 34 13. 2919 2005 27. 85 7. 8 20. 05 22. 2 8 6. 28 27. 97 13. 91 Free Cash Flow forecast Years OUTFLOWS (1) Debt repayment Investment INFLOWS (2) Net income Depreciation FINANCIAL NEEDS (2-1) Dividends New financial needs New cumulated fianancial needs 2001 2002 2003 2004 2005 57. 5 2. 5 55 30. 54 13. 58 16. 96 -26. 96 2 -28. 96 -28. 96 56. 83 5. 3 51 32. 8 3. 88 28. 92 -24. 03 3 -27. 03 -55. 98 26. 83 5. 83 21 35. 55 1. 31 34. 24 8. 72 0 8. 72 -47. 27 17. 83 5. 83 12 37. 02 8. 66 28. 36 19. 19 8 11. 19 -36. 08 13. 5 2. 5 11 41. 71 19. 51 22. 2 28. 21 12 16. 21 -19. 87 -55. 98 Total amount of financial needs is about 1/4 total value of the firm (V=220. 000 Assignment: Company Valuation Case Study: BioTechnology Student: Tran Ngoc Minh – MEBF 5th From the above estimation and calculation, we found that to implement the investment plan, Biotech has lack of financial needs with the amount of 55. 98 million. In this situation, Biotech can raise funds by issuing new shares or borrow money from the bank to finance its plan. We raise out 3 cases that biotech can take a consider to maximize its profitability for shareholders. 1. Issuing equity for existing shareholders Outstanding shares 100,000 Book value of company 45,477 Market value before new issuing 240,747 New issue shares(planed) 25,000 issue 1 new share for 4 old New issue price (planed) 2. 24 discount 7% Value of company after new issuing 296,721 Book value after issuing 101,451 Total debt 28,000 Total equity 77,559 36. 10% Debt/equity

First Knight essays

First Knight essays In the movie, First Knight, lots of heroism was displayed through out the movie. The two characters that can be considered as the heroes are first of Sir Lancelot, and the other is of course, King Arthur. As the dictionary states, a hero is one who is noted for feats of courage or nobility of purpose, especially one who has risked or sacrificed his or her life. When there is a hero, there is also a villain, or one who the hero is fighting against. In this movie, that antagonist is Malagaint, a man that becomes way too greedy. He was once a knight just like Sir Lancelot, part of the Knights of the Round Table. The problem was he got too selfish and wanted to rule all the lands to himself. This movie was basically Malagaint versus Arthur and Camelot. The first hero that was noticeable right away was Lancelot. He was an incredible swordsman and fighter. Through out this movie, he displayed amazing fighting skills, also intelligence. He stated that he is a man on his own, that he wants to rule himself. He has this mentality that everyone is against him, probably because of what happened to him in his childhood. When he was young, his family was murdered in a horrible fire. They were locked in a church that was burning to the ground. This one incident gives him the motivation to be such a fighter and make him as fearless as he is. Examples of the feats of heroism and courage are all through out the movie. The first is in the beginning of the movie, where the princess of lioness is on her way to Camelot and is ambushed by Malagaint. She manages to run, but gets trapped. Its a three on one situation, but then comes Lancelot, and he saves the day. He takes her under his wing and then sets her free. Lancelot does display his weakness though, which is women. This woman brings about his downfall. Another act he accomplishes is when he goes through the gauntlet. Only heroes have the skill, determin...

BusinessMGT Unit1 Assignment Example | Topics and Well Written Essays - 1000 words

BusinessMGT Unit1 - Assignment Example Business Management Unit 1: Part 1 Introduction The function of job organization and information is a crucial offshoot of the organization structure that effectively delineates the different departments, divisions, sections and units in the light of the organization’s philosophy, resources and needs. A job description details the content of the job, specifically the nature of the job, the person the worker is responsible to, accountabilities, competencies and skills requirements, among others (Martires, 2004, 108). Given that the vice president for services requires a detailed presentation of the job description of a manager to be recruited for the services division, the essay hereby details the requirement. Job Description o a Manager of the Services Division Position: Manager, Services Division, assists the Vice President in the performance of management services functions and understands the organization’s practices and competently delivers outputs consistent with fu nctions expected of a manager. Characteristics and Experience Required: 1. Must be at least a Master’s Degree in Business Administration preferably with strong service background; with at least 3 years experience in a Service oriented organization. 2. With good moral character and exhibiting exemplary conceptual, communication, effectiveness, and interpersonal skills. 3. Must have knowledge of theories, principles and practices of managing a service organization with than 3 years experience in planning, organizing, leading, and controlling a new service department to provide excellent customer service. 4. Must have the ability to manage projects and programs by designing an interplay of activities consistent with the maintenance of a conducive working environment for the service personnel; must motivate subordinates towards the accomplishment of goals; must effectively coordinate requirements of various stakeholders and to recommend alternative courses of action to authorized higher management personnel for required decisions making processes. 5. Must be mature and dependable in all situations, aggressive with sincere desire further one’s professional career in the organization; flexible in working under different working conditions; possesses the highest degree of integrity and discipline and resourceful in undertaking assignments and projects, as necessary. Duties and Responsibilities 1. Directs and manages the service department into the development of strategies towards the accomplishment of plans, objectives and goals pursuant to policies and procedures; actively develops schedules, budgets, proposals and plans to comply with required programs; assigned duties, tasks and responsibilities of personnel; performs performance appraisals and evaluation of personnel; monitors the compliance to programs and the level of accomplishments of projects as planned; coordinates all activities with external agencies; prepares business continuity and emerge ncy plans and procedures; reviews required documentary reports and advises senior management, as required; actively involved in problem-solving, troubleshooting, conflict resolution and decision-making, as needed. 2. Coordinates with various stakeholders in terms of activities of the new department in terms of utilization of resources and the need to use funds, as proposed. 3. Reviews and updates policies, procedures and

Daphne du Maurier, Don't look Now Essay Example | Topics and Well Written Essays - 500 words

Daphne du Maurier, Don't look Now - Essay Example Dont look now† is the mystical and wistful story of a British couple named, John and Laura, who are on a vacation in Venice. They are on holiday in order to escape, from the pain and heartbreak of their young daughter Christine’s recent death. They are also on a rebound, striving to bring back the fun, laughter and romance in their marriage, which seems to have diminished after the tragedy. However, quite contradictory to their expectations, Venice soon becomes a hazardous place for them too, as a series of paranormal events unfold, when they meet two old Scottish sisters at a cafà ©. There comes a twist in the plot, when the blind sister claims that she can see the ghost of their deceased daughter uniting with them. All their claims make Laura extremely happy and rekindle a flame of hope in her dull and dim, sad life, and she is suddenly drawn towards the two sisters. An interesting aspect of Du Maurier’s literature was that quite unusually, she wrote from the perspective of the male protagonist, and exceptionally good at that. This story is also told from the rationalist, sensitive and edgy point of view of John, the male lead. John begins the story by describing the trauma and distress her wife is going through, after the shocking tragedy, as it is driving her to the point of hysteria, John is feeling anxious and helpless, at her ordeal and finds very hard to see the unsettling state of mind of his beloved wife. After the two sisters claimed to have seen Christine’s ghost, Laura becomes very ecstatic and that upsets John even more. The two sisters, kept referring to having the â€Å"gift† of second sight, which John instantly dismisses, as he does not believe in ghosts, instead he feels very uncomfortable by seeing Laura’s immediate interest in those women. Laura’s sudden happiness seems like a betrayal to Joh n, who is still a grieving parent and Laura’s

An Open Innovation Business Model Commerce Essay

An Open Innovation Business Model Commerce Essay It is very important to know what innovation is before we can further proceed in answering the question. An innovation is a product or service with a bundle of features that is new in the market, or that is commercialized in some new way that opens up new uses and consumer groups for it. Innovation is invention implemented and taken to market (Chesbrough 2003). Invention however is the creation of something that was previously unknown (Chesbrough, Vanhaverbeke et al. 2006). In summary, INNOVATION= INVENTION+COMMERCIALIZATION. Today companies who, want to deliver consistent organic growth to their shareholders, customers, and their employees can do that only through innovation (Chesbrough 2006). So what is Open Innovation? Illustration 1: Concept of open innovation Open innovation is the use of purposive inflows and outflows of knowledge to accelerate internal innovation, and expand the markets for external use of innovation, respectively. [This paradigm] assumes that firms can and should use external ideas as well as internal ideas, and internal and external paths to market, as they look to advance their technology. (Henry Chesbrough, Open Innovation: Researching a New Paradigm). As mentioned by Chesbrough, there are a total of 5 paths to Open Innovation. Firstly, the old fashion model. It work like a fortress, the firm will take ideas internally to market. This path works the same as a closed innovation concept. The second path would be opening up the abilities for others. This can be achieved by bringing in ideas internally; ideas that does not fit into the firm business but might be useful for others. The third path would be acquiring ideas externally. Ideas are everywhere; firms can acquire ideas from university, individuals, start-up companies and etc. They can then come out with new opportunities and solutions using these acquired knowledge by taking them to a new market; a market that the firm might not have gotten into. The forth path would be to bring in external technologies and ideas to fill the gap that the firm might be facing problem with. Without open innovation, companies might need to use more resources to fill the gap. Lastly, an internal project that does not look promising until a certain level of development can be taken out and allow the team to continue working on it outside. This process can help to raise new money, acquire new customer and hire new employees (Specialist) to further develop the project. At certain point, if it seems feasible and viable, firms have the option to bring the project back if it turns out to be strategically interesting. The 5 paths are very important in helping use to understand why firms are moving towards the open innovation business model. The opposite of Open Innovation-The Closed Innovation In order to understand Open Innovation better, we will need to know the opposite of it- the Closed Innovation. In short, Close Innovation is a paradigm that successful innovation requires control and ownership of the Intellectual property (IP). A company should have full control of everything that relates to ideas. Some companies therefore decided to run their own research and development (RD) units. The entire new product development cycle was then incorporated within the company where innovation was done in a closed and self-supporting way (Wikipedia). It has always been the case whereby internal Research and Development (RD) was regarded as a strategic asset and it creates barrier to competitive entry in many industries. Only bigger firms with substantial resources and long-term research programs are capable to compete within their respective industries. This eventually led to higher profit margin as well. Competitors had to start their own laboratories using their own resources in order to compete. Therefore firms invested heavily in internal RD, which eventually led them to breakthrough innovation that enabled them to create new products and services to generate more revenue and profit margins (Chesbrough 2003). Therefore the protection of intellectual property in a closed innovation paradigm is very tight. It is so tight that firms will store their technologies until they are ready to use it. In the meantime, firms will also minimize or rather ensure zero leakages incident of information that relate to the technology. (Chesbrough 2003) Differences between closed and open innovation Table 1: Open Innovation Principles, Source: H. Chesbrough (2003) One major difference between closed and open innovation are how firms filter their ideas. In any RD process, researchers must separate the bad proposal from the good ones and eventually only the good proposal will be commercialised and the bad ones will be discarded. Both open and closed model can remove false positives (that is bad ideas that initially look promising), but open innovation can revived these false positive and false negatives (ideas that initially seem to lack promise but turn out to be surprisingly valuable) to recoup losses incurred during the RD process. A classic example will be Xerox and Palo Alto Research Centre (PARC). Researcher there developed many breakthrough technologies such as Ethernet and Graphical User Interface (GUI). However Xerox main focus is on high speed printer and copier, hence these technologies were not viewed as promising by the firm. This is what we call false negative. GUI was eventually used by APPLE in Macintosh operating system and Micr osoft in Windows operating system respectively. Why open innovation? Today, in many industries, the traditional logic of supporting an internally oriented, centralized approach to RD has become obsolete. Ideas must be used with alacrity as useful information and knowledge can be obtained easily. A firms ability to exploit external knowledge is a critical component of innovative capabilities (Cohen and Levinthal 1990) instead of exploiting only internal knowledge. In short, firms that can integrate external ideas to advance their own businesses while leveraging their internal ideas outside their current operations will likely thrive in this new era of open innovation. As time passed by, Closed innovation model begin to obsolete fundamentally and ultimately eroded. This eventually led to closed innovation giving place to open innovation paradigm (Chesbrough 2003). Increase in availability and mobility of skilled workers encourage firms to go into an open innovation business model. This is because the labour market is linked to the market of know-how (Teece 2000), these labors are likely to be lured by better compensation package which will then led to information leakages. This makes the labour market highly mobile which encourage companies to shift from a closed innovation model to an open innovation model. Also, ideas can no longer be stored on the shelf anymore. Failure to utilize own technologies might result in firms seeing their own technologies ended up being exploited by other firms. This is due to a widespread of knowledge pool among companies, customer, suppliers and other parties. Hence the closed innovation business model is once again proven to be less useful to many firms. Rising development costs and shorter product life-cycles has resulted in firms finding it increasingly difficult to justify investments in innovation (Chesbrough 2007). This actually made the open innovation model important. It is very important for firms to process knowledge at a faster pace to prevent worker and venture capitalist to steal their ideas. It is not surprising at all that external suppliers offer better quality work of what a company can achieve internally (Chesbrough 2003). Hence, in today context, most of the bigger firms actually engage the services of external suppliers so that they can apply their investment to cover more areas in less time. However it is important to note that this allows other firms to move faster and cover new markets as well. An example of this would be Samsung and Apple. Apples A5 chip is built by Samsung à ¢Ã¢â€š ¬Ã… ½, the processor that powers Apples iPhone 4S and iPad 2 is being manufactured in Texas by rival Samsung. As mentioned earlier in this essay that a company such as XEROX that is too focus internally (closed innovation approach) will eventually miss out numerous opportunities because many will fall outside the firms current businesses or will need to be integrated with external technologies to unleash their full potential. As RD functions are organised as separate function within organisations, there bound to have some technologies that are under- or unutilised. These ideas are kept on the shelf of the knowledge bank until downstream business is ready and willing to use them (Chesbrough 2003). Firms will do well if they are able to make full use of extensive technologies (Chesbrough, Vanhaverbeke et. al. 2006). Its also possible to innovate with discoveries of others (Chesbrough 2003). Firms can leverage on external knowledge instead of ignoring it and pursuing only internal RD (Chesbrough 2003). Valuable ideas come from inside or outside the company and can go to market from inside or outside the company as well (Chesbrough 2003). Both external and internal ideas are equally important. Firms can focus on a particular area without having to do everything (Chesbrough 2003). Therefore Open Innovation offers lower costs for innovation, faster times to market, and risk sharing with others. (Chesbrough 2006). Open innovation does not mean that internal RD must be removed from a firms RD process. A firm can achieve additional benefits when implementing internal RD in Open Innovation context as the internal RD can fill the gaps (leveraging on external) in what others are doing. Firms that adopt Open Innovation business model do not need to invent the most novel or best technologies and knowledge in order to thrive and lead in their respective industry. Firms just need to be sure that they are making the best use of internal and external knowledge in a timely manner and innovate to create new products or services. Smaller firms such as SMEs have more reasons to move towards the Open Innovation business model. This is because they have less internal RD capability, less market power which mean weaker ability to capture value and IP enforcement are often costly to them (Henry Chesbrough 2008). Markets that is too small for larger firms might be attractive for SMEs. Smaller firms are able to execute plans at a faster rate because there are less internal politics (Henry Chesbrough 2008). Eventually larger firms will value this collaboration with smaller firms and they will create platforms that seek supporting investment from SMEs and SMEs can expand globally at a lower cost. As for larger firms, the Open innovation business model plays an important role. Radical innovations were viewed as an approach to generate growth for large established company as they depend on breakthrough innovation to move to the next platform for growth. However larger firms are lacking of supportive infrastructure to enable breakthroughs to be commercialized. Open innovation model can aid firms in building this supportive infrastructure. Larger firms can then focus on building deeper core competencies. Example 1: Intel Firms can benefit from innovation even if they do not own the technologies they use. An example would be computer processor maker, Intel. Intel has been successful for years without conducting much basic research on its own. All development took place within existing production laboratories as Intel does not have any development facilities. However Intel decided to take a change at a later stage, three research laboratories with different focus in their respective areas were established later. In addition to that, Intel actively promotes linkages between its research laboratories and external research community. They held conferences, research forums and seminars in attempt to bring both internal and external researches together. (Chesbrough 2003) Strong connections between them and newly incorporated firms allow Intel to extend its business strategy by leveraging on the advantages that these start-ups possessed. Intel benefitted tremendously from this far-sighted approach with corporate venture capitalist. To sum up, Intel actually adopted the third and fourth path to Open Innovation as mentioned earlier in this essay. Their primary focus is on accessing and leveraging on external knowledge (Chesbrough 2003). Example 2: The rise of Adobe and fall of Metaphor Computer We all know that Adobe systems owe its success to their first product, the PostScript. Postscript created a new industry segment within personal computer industry, known as desktop publishing. This technology was initially developed within Xeroxs Palo Alto Research Center (PARC). Within PARC, what was then called Interpress was a means of allowing Xeroxs laser printers to print what was displayed on a Xerox Star workstation. This capability became known as WYSIWYG, or what you see is what you get. John Warnock and Charles Geschke, who both worked on this technology while at PARC, wanted to create a standard around Interpress. However, their management within Xerox resisted this, because they did not want to give away one of the primary differentiating features of the Star system. Extracted from Intel ® Technology Journal. From the extract above, we can see that both John and Charles innovation does not look promising to PARC at that point of time. Eventually Hewlett Packard and Canon agreed to bundle in the Technology which was later labeled as PostScript as a standard item in their laser printers, while Apple agreed to support PostScript in its software. If back then PARC adopted an Open Innovation business model, they would have benefited. This is mentioned earlier on as the fifth path to Open Innovation business model. However HP, Canon and Apple benefited from the model as they have all taken the third and fourth approach to Open Innovation business model. And lastly Adobe uses the first and second approach, which eventually led them to success. Unlike Adobe, Metaphor chooses to adopt a closed innovation approach. Nothing was carved out and shared with other firms. Lack of third-party support eventually led them to their downfall. Conclusion As ideas and technologies become obsolete at a very fast pace (Chesbrough 2006) and many useful knowledge has been widely spread, open innovation is vital for firms as they can use external as well as internal ideas and paths to market as they look to advance their technology (Chesbrough 2003) while pursuing lower costs for innovation, faster times to market, and the chance to share risks with others (Chesbrough 2006). In order to thrive in this new era, firms must adopt an open innovation business model. However it is important to note that, closed innovation is still applicable to certain industry such as the Pharmaceutical industry. Open Innovation business model is merely an evolution of closed innovation as it consist partial traits of the latter. ******** The End ********

Learning environment Essay

â€Å"The environment we are in affects our moods, the ability to form relationships and the effectiveness in work or play, even our health. † (Bullard, 2006). In effectively educating children an educator must build a foundation that has a stimulating environment which includes the inside and outside areas, classroom design and decor size. The outdoor learning area must be one that is organised in a way that promotes exploration and investigation of the elements of nature which includes planting trees and flowers, as well as nature stations where children can observe the different insects. On the other hand is the classroom design which also endorses discovery along with cooperation among peers. The centres should be spacious that enables free movement where group gathering can take place, as well as the different materials and manipulative that are easily accessible to children in the different learning areas in facilitating their knowledge. But however not only that, but as well as decor size which pertains to using child size toys, tools and furniture in the classroom that eliminates children from asking for assistance from adults, as well as allowing them to feel empowered by not requesting of their help. In providing a stimulating environment like the one that was now described would allow children to actively participate in their learning. This is so because the surroundings therefore cater for â€Å"appropriate ways in developing the vital skills, the knowledge and a positive attitude to learning in the individual needs of each child. It is based on â€Å"guiding children to observe, question, discuss, listen, manipulate, feel, investigate and develop the ability to think creatively and independently. This is defined as Active Learning. In discussing the importance of the active learning environment above which includes the inside and outside areas, classroom design as well as decor size that promotes active learning, this paper would now focus on one such area that is assessed in the internal environment, meaning a learning centre that needs to be enhanced, as well as strategies used for improvement to reflect my curriculum goals. Description of the Learning Centre that needs to be Improved While children were in the indoor setting of the classroom I took time to sit and observe what exactly was happening at each of the different centres. While monitoring I noticed that most of them were at the diverse learning areas excluding the language centre which had only about two (2) children who took a short amount of time interacting within that area. The other centres were very attraction as they had many tangible objects that children can interact with, whereas the other had old objects that were very unattractive and discoloured. Most of the materials were posters that were stuck to the wall which were there for a very long time, in turn making it appear distasteful and unappealing. In the language centre it therefore created a barrier that enabled children to further promote their language development as there were an insufficient amount of materials that catered for it. In addition, that learning centre did not cater for the children as it did not promote active learning, because as stated earlier when a centre has materials and manipulatives that are easily accessible to children it therefore facilitates their learning as it guides them to observe, engage and grasp different concepts in a simpler way. But however, there were no materials that held the attention of the children that they can become involved with; hence it developed a barricade for the active learning process to take place. When comparing the centres I have found that this is a situation that needs to be put back into working order immediately, because â€Å"language is an important skill that allows a person to communicate. † (Brannagan, 2010). It is a significant skill that is crucial in a child’s life as they use it to adequately exchange information with others in a meaningful way, as well as understanding the uses of reading and writing and becoming successful early readers and writers as it determines a successful future for them. In contrast, if this particular skill has a delay it can create complications in communication with others. This therefore can build frustration within the child since it may lead to miscommunication about what he/she is trying to convey. This is why it is important for me as an educator to address this matter quickly, so in turn children can have the opportunity to interact within that said learning centre and not only in the others, as they would gain better knowledge by coming into contact with materials and experiences that are provided for  them by adults, hence making it easier to make sense of the world around them, as well as influencing their rate of growth. This process is referred to as The Constructivist Theory in which the philosopher Jean Piaget believed that children’s learning is an active process where there is interaction between the person and the environment. This improvement of the Language Centre would be effective as it will continually provide active learning within all the centres in the classroom without the segregation of one. My Curriculum Goals within the Language Centre As stated by the National Early Childhood Care and Education Curriculum Guide in the strand Effective Communication â€Å"language and literacy play a critical role in the development of children’s thinking, learning and communication. To develop into successful, contributing adults, children must learn to be effective communicators and masters of their official language. † (Ministry of Education , 2005) With this being said my curriculum goals within the Language Centre are taken from the National Early Childhood Care and Education Curriculum Guide. The goals are as follows: ? A growing awareness that speaking is an effective way to communicate thoughts, ideas and views. ?A growing awareness that print (common signs and symbols) conveys meaning. ?An increasing understanding of some symbols, language patterns, letter sound relationships to predict, confirm or make meanings from using their hundred languages, which includes multimodal texts. ?Develop ways to experiment with conventional letters, word signs and symbols to convey meaning. ?Understanding of the relationship between letters and sounds. Develop ways to explore how symbols and written and visual texts are used to communicate meaning. ?The ability to derive and convey the meaning of common signs and symbols (exit signs, area labels etc. ) in the various environments (school, home, community. ) ? A love for listening to and retelling familiar stories, as well as a desire to â€Å"read† on their own. Learn new vocabulary and extend language to communicate and negotiate ideas and plan for activities. Strategies used for Improvement in the Language Centre Letters are all around us! Therefore using environmental prints stuck to the wall in the language centre such as signs, labels and logos can be of great assistance in accomplishing some of my stated goals in developing children’s reading skills. This was stated by Colorin Colorado as an influential method in making the connection between letters and first efforts to read. It discusses how adults can make these techniques interesting to a child’s learning in talking about letters, words and print. The article suggest that in taking advantage of cereal boxes, as they are colourful to facilitate learning in which they can request for the child to find the first letter of his/her name on the box which assist in letter recognition as well as when going on a car trip. This results in children making the explicit link between letters and sounds. Another strategy the article further suggests that can be utilized, is about the use of technology in taking digital pictures of signs such as â€Å"exit† or â€Å"do not enter† to create a book for children to promote his/her reading skills. Environmental print provides lots of opportunities for kids to interact with letters, sounds, and words. † After reading â€Å"Colorin Colorado† 2010 it is concluded that not only can you facilitate children’s learning in the classroom but using the environment prints that surround us everyday can be of grand assistance. As stated by the U. S Department of Education 2011, Phonological Awareness and Training assist in the development of preschool language and literacy. The article defines Phonological Awareness as the ability to detect or manipulate the sounds in words independent of meaning whereas phonological awareness training is the means of involving various training activities that focus on teaching children to identify, detect, delete, segment, or blend segments of spoken words (i. e. , words, syllables, etc. ). In the language centre I can provide picture cards along with letter cards as well so that children can make the distinction between sounds and their letters as they are able to match the letter sound card to their pictures. Other materials may include ABC books, magnetic letters, alphabet blocks and puzzles as well as alphabet charts. It has a positive effect because it’s easier in learning alphabet letters as well as the letter sound knowledge that enables them to add letters together to form words and in turn add words together to form sentences; in addition it also provides the knowledge of print awareness and early reading abilities; Incorporating Interactive and Dialog Reading declared by the U. S Department of Education 2011 refers to the adult reading stories to the children. When teachers repeat the reading’s of favourite books it enables children to become familiarized with the books that will allow for independent reading as well as utilizing different techniques to engage children in the text, while dialog reading is the term used when the adult and child switches roles where the child now becomes the storyteller and the teacher the listener and assistance of the child. Dunst, Simkus and Hamby 2012 says â€Å"Engaging young children in retelling stories read to them by parents or teachers is a strategy that is often used to promote story-related comprehension and expressive vocabulary. This article similar to the one mentioned above suggest that in reading and repeating stories to the child or a small group of children and therefore engaging them to retell the story in their own words results in the expansion of ideas and their imagination. This becomes effective because Interactive and Dialog Reading assist in oral language and vocabulary development as the teacher may ask open ended questions in engaging the child in verbal elaborations which allow the child to gain knowledge about the meaning of spoken and written words and the development of comprehension skills which caters for early literacy and language development. To further endorse these skills in the language centre that is significant in improving and supporting literacy development the materials that would be provided are lots of good child friendly books that are attractive and prints that deals with class activities e. g. helper charts, toy shelf labels, as well as charts that display good habits etc. Apart from all those strategies mentioned above this one takes a different course. This article written by Howard Phillips Parette talks about the acquistion of Phonological Awareness and Alphabetic Principles through the use of Microsoft PowerPoint. It declares that through Microsoft PowerPoint it can facilitate a child’s phonological awareness because teachers can modify such features such as colour, pictures, sounds, animation, slide design and slide transition. This promotes the acquisition of reading skills and fluency. Whereas, alphabetic principles also known as phonemic orthography which refers to relationships between letters and their associated sounds help young children develop letter-sound correspondence. Using the techniques through technology enables the promotion of comprehension skills, the understanding of the concepts about print as well as the facilitation of vocabulary development. This article is critical as it shows how to assist children in identifying letters and sounds through the use of technology. In being educated about how to incorporate technology in teaching children the acquisition of these skills, I would therefore try my utmost best in providing a computer in the language centre that would be most available to the children, as well as undertaking that strategy of how to teach the children phonological awareness and alphabetical principles on that such computer. How does the Active Language Centre Created reflect my Curriculum Goals? When assessing the language centre before I did my creation it was evident that there were no signs of my curriculum goals, mainly because of the lack of attention I gave to that particular centre and the insufficient amount of materials that were provided to the children in classroom. But however, now when comparing the centre from how it was before to this very moment, I can observe that my curriculum goals are off course reflecting. The reason for this is because it is more attractive in the eyes of the future members of society, as well as the materials that are presented to them mirrors my goals. The materials that were mentioned and described earlier above and that would be offered to them facilitates the particular skills that would be met in the declared goals and that are of great importance to the children, as well as the teacher learning strategies that were undertaken in further endorsing and accomplishing them. Limitations and Innovations In implementing the strategies that were discussed earlier, there was off course one (1) obstacle that was preventing me from accomplishing my entire task. But luckily, there were more innovations than limitations presented. They are as follows:- Innovations – all this were possible with the help and the support of the parents ? I was able to provide lots of books in the language corner that were incredibly attractive to the children. ?The magnetic letters, some puzzles along with many beautiful charts. ?Labels ?Alphabet blocks Picture cards ?Letter sound cards ?Environmental Print e. g. (signs, logos etc. ) ?Together with the children we were able to create the book that includes the different environmental signs. Limitations ?The strategy that was very different from the others which was the incorporation of the computer into the classroom was unable to accomplish due to the expense that it would have implanted. It was hard to achieve, but however after sometime we would be able to achieve it to facilitate the children’s learning. Conclusion In discussing the strategies above that I have undertaken in enhancing the Language Centre in my classroom in reflecting my goals, it has enabled me to realize how unique this learning area is to the children in the environment and to there future. When adults create rich language and literacy environments with the appropriate materials, manipulatives and teacher learning strategies to further endorse the important skills, it boosts the child’s vocabulary along with the use of language, which in turn increases their likelihood of future success.