Saturday, October 12, 2019
Regulating the Internet :: Argumentative Persuasive Essays
Regulating the Internet Part I: What I Know The internet has been one of the most influential technological advancements of the twenty-first century. It is in millions of homes, schools, and workplaces. The internet offers not only a way of communicating with people around the world, but also a link to information, shopping, chatting, searching, and maps. This freedom to be anyone and to "go" anywhere right from the comfort of home has become a cherished item. However, there is always a down side to every up. Because of the freedom to post anything and access anything on the internet, the issue of regulation has arisen; for example, what should and should not be allowed on the internet? Who has the right to regulate this space that we cherish for its freedom? Regulation is an issue that has formulated mostly because of how easily any child can access the internet. The thought is that if adult related material is easily accessible, then our children can view it also. People want to protect their children from items such as pornography, hate speech, violence, and gambling. All of which can be reached at the click of a button. So is regulating the internet the correct way of protecting our children? We as a people of the United States are guaranteed the right of free speech under the first amendment of the bill of rights. The first amendment has always been a difficult but necessary part of American life. It allows us to say what needs to be said without the fear of prosecution. Without this law we would be unable to question our leaders and society. The ability to speak our minds is what keeps us a truly free nation. However, this means we have always had to put up with other peoples opinions no matter how false they may be. The internet follows the same pattern. We have learned not to trust everything that is written down. It is our responsibility to refute anything that is incorrect or inappropriate just as it is our responsibility to do so in real life situations. For example, we could no more shut up a person who believes in white supremacy by arresting them for their beliefs then we could block them from the free space of the internet. We can not punish someone for their b eliefs even if those beliefs go against everything we know to be true.
Friday, October 11, 2019
Panera Bread Essay
Panera Bread is a nationwide known eatery that provides premium foods in a sophisticated atmosphere. Panera Bread is in the line of bakery-cafà ©. They decided to set themselves apart from eateries such as McDonaldââ¬â¢s, Wendyââ¬â¢s, and Burger King. The stores are equipped with very intimate settings and Wi-Fi. Panera Bread specializes in a variety fresh baked bread and meal options for the health conscience customer. SWOT Analysis Strengths â⬠¢Panera Bread is known nationwide and this helps to attract customers. â⬠¢Panera Bread has an assortment of fresh breads and meal offerings to accommodate those that are health conscience. â⬠¢Panera Bread moved past the fast food market and decided to offer high-quality, premium food to its customers. â⬠¢The overall ambience of the eatery gives an intimate, at home feel that makes the customer want â⬠¢Scott Davis, senior vice president and chief concept office had a clear vision of the direction Panera Bread would take and a clear strategy of how to achieve that goal. Weakness â⬠¢The eatery offers premium, fast dining and the prices may appear to be on the higher end to customers. â⬠¢Panera Bread has not been able to increase the frequency of which customers dine at the eatery. â⬠¢In order to enter as a franchise, Panera Bread has a very strict list of criteria that makes it difficult to qualify. Opportunities â⬠¢Panera Bread can cease the opportunity to offer their fresh baked breads in supermarkets or sell their breads in store to customers. â⬠¢Panera Bread has the opportunity to offer a lower end eating experience. This lower end chain will appeal to potential customers who cannot afford and expensive meal for the family. Threats â⬠¢Panera Breadââ¬â¢s direct competition is fast-casual restaurants. â⬠¢The change in the economy has affected how often individuals and families go outside of the home to dine. Alternatives 1.Offer Panera Breadââ¬â¢s signature dough and bread to local supermarkets or for sell at the Panera stores. 2.Introducing a lower market restaurant. 3.Make entering the franchise easier by making the criteria to qualify less strict. Discussion of Alternatives Alternative 1: Pros: Offering their dough for purchase by customers has the potential to generate more revenue for the company. It will also introduce the Panera Bread brand into households of those who have not visited the restaurant. Cons: The cost to produce the fresh dough to customers may exceed the overall gain to the company. Alternative 2: Pros: Introducing an alternate chain to appeal to a lower income customer base will expand the customer base. With the present state of the economy, families are finding it hard to eat out especially when the prices are high. Cons: This particular alternative detours the company from their clear goal. With so many affordable eateries, Panera Bread strives to set itself apart from the others. Alternative 3: Pros: Easing the criteria would make entry in the franchise easier. This will allow for more Panera Bread stores to open. Cons: Easing the criteria would deteriorate the stability of the franchise. The strict criteria ensure the overall success of the franchise. Recommendations Panera Bread would benefit most by teaming up with supermarkets to supply fresh baked Panera Bread. Even though the company itself does not serve frozen bread, it may be a good idea to offer the frozen dough for customers to purchase.
Thursday, October 10, 2019
Starbucks Case Accounting
Starbucks Case Part I ââ¬â Prior to reading Starbuckââ¬â¢s Form 10-K, please answer the following questions. Your answers should be based upon your general knowledge of Starbucks, gained from visiting their stores, purchasing their products and/or observing them in the marketplace. a. Up until the economic downturn (Fall of 2008) what do you believe was Starbucksââ¬â¢ growth strategy? Give three examples of specific actions (growth initiatives) you observed Starbucks execute upon as part of their growth strategy? 1. Saturate the U. S. arket: Based on our observations, it seemed that Starbuckââ¬â¢s primary strategy for growth was to saturate the U. S. market. At one point there seemed to be a Starbucks at every corner, sometimes so close that one had to wonder why in the heck they were opening stores within a couple dozen feet from each other. 2. Expand internationally: We presume that one of their growth goals was to expand abroad, specially if they began to realize they were cannibalizing their own established stores, so they likely had to go outside of the U. S. o keep up their growth targets. 3. Develop complementary products/alternative revenue sources: We also think that around 2006-2007 was when they started to promote downloadable music and also began to sell CDs & books in stores; which means they began to more aggressively add alternative revenue channels, beyond that of coffee/drinks, to their many locations. (Personally, I purchased a bottle of Starbucks coffee liqueur around that time, which I still have because itââ¬â¢s not as good as other coffee liqueurs such as Kahlua. b. How do you believe Starbucks measured their success in executing their growth strategy? Give four specific measures you might use to evaluate the success of Starbucksââ¬â¢ growth strategy. Very likely that they were measuring it against number of new stores opened, and sales growth. We would probably use the following to evaluate the success of Starbuckââ¬â¢s growth strategy: 1. Sales growth. 2. Operating Revenues. 3. Net income. 4. Return on assets. The remaining sections of the case should be completed after you have read Starbucks Form 10-K and any other information deemed pertinent. Part II ââ¬â Results of the audit by Starbucksââ¬â¢ outside independent accountant, status of Starbucksââ¬â¢ financial reporting controls and industry specific accounting. a. Who is Starbucksââ¬â¢ outside independent auditor? Did Starbucks receive a qualified or unqualified (clean) audit report from their outside independent auditor for the 2010 fiscal year end? a. Deloitte & Touche, LLP. b. Unqualified. b. What was Starbucks managementââ¬â¢s conclusion in their report on internal control for financial reporting? What was the outside independent auditorââ¬â¢s conclusion regarding managementââ¬â¢s review and assessment of financial reporting controls? . That their internal control over financial reporting was effective as of October 3, 2010. d. That Starbucks maintained effective internal control over financial reporting as of October 3, 2010. c. How does Starbucks account for gift cards? What impact do unredeemed gift cards have on the reported operating income in each year? How does Starbucksââ¬â¢ accounting for unredeemed gift cards compare to other retailers? e. Revenues for cards are recognized when tendered for payment, or upon redemption. Outstanding balances are included in deferred revenue on the balance sheet. Balances on cards that are deemed unlikely to be redeemed, get recognized as net interest income. f. Operating income is increased by balances on cards thought unlikely to be redeemed; therefore, it can be argued that operating income is being overstated by the addition of ââ¬Å"unlikely-to-be-redeemedâ⬠card balances to net interest income. g. Gift card balances by other retailers are probably carried as a liability (unearned revenue). When gift cards are not redeemed, some retailers return the balances to the state where the card was issued assuming the unclaimed balance to be ââ¬Å"unclaimed propertyâ⬠in some states. As seen above, Starbucks does carry outstanding balances as deferred revenue (a liability) as well, but once the cards are deemed unlikely to be redeemed, it treats the unclaimed balance as an asset. Part III ââ¬â Trend Analysis of Sales and Earnings Growth During 2006 ââ¬â 2010 Review Starbucks income statement and common size income statement for the years 2006 through 2010. Identify and comment on the major trends in the growth in Starbucks sales and earnings, including: a. Sales growth ââ¬â was Starbucksââ¬â¢ sales growth consistent or inconsistent over the above five year period? Do you see signs of acceleration or deceleration in Starbucksââ¬â¢ historic growth rates? How does Starbucksââ¬â¢ sales growth compare to its industry averages? Are same store sales or the opening of new stores the more important factor in driving Starbucksââ¬â¢ sales growth during this period? Do you believe Starbucks sale trends over the past few years will continue over the next two to three years? Please provide rationale for your belief. Starbucksââ¬â¢ sales growth was inconsistent over the above 5 year period. Data from the last 5 years suggests that Starbucksââ¬â¢ growth rate is actually decelerating. Starbucksââ¬â¢ sales growth was below the industry sales growth. The industry has average 9. 25% over the last 5 years while Starbucks averaged 7. 5% only. The opening of new stores is vital to Starbucksââ¬â¢ sales strategy. During 2006, 2007, and 2008, Starbucks added 2199, 2571, and 1669 net stores. During the same years, sales grew by 22%, 21%, and 10% respectively. During 2009, Starbucks reduced 45 stores and their sales dropped by 7%. In 2010, Starbucks added 223 stores and not surprisingly their sales increased by 10%. In our opinion, Starbucksââ¬â¢ sales will continue to grow but at a decreasing rate over the next 2 to 3 years. This projection is based on historical sales data from the last 5 years which suggest a deceleration of sales growth. Starbucksââ¬â¢ average sales growth for the last 5 years is 11%. In 2006, Starbucksââ¬â¢ sales grew by 22%. This suggests a deceleration of sales growth. b. Gross margins ââ¬â did gross margins expand, contract or hold steady over the period? What major factors account for the trend youââ¬â¢ve identified? The gross margin has held steady over the last 5 years ranging anywhere from 55% to 59%. Gross margin is affected by sales and cost of sales. c. Operating expense ââ¬â make sure you look at operating expenses in both absolute dollar terms and as a percent of sales. Did operating expenses grow slower, faster or at the same rate as revenues? Would you expect to see more leverage on Starbucksââ¬â¢ cost base, given their growth history? (Note: operating leverage is demonstrated when a companyââ¬â¢s operating expenses grow at slower rate than its sales, thereby resulting in operating earnings growing faster than sales. ) Do you believe Starbucksââ¬â¢ cost base is mostly fixed, mostly variable or an equal mix of each? What implication does the structure of Starbucks cost base (i. e. % fixed / variable) have on the relationship between the growth rates of revenues and earnings? Make sure you present information to support your conclusion. Operating expenses have grown at a higher rate than revenues over the last 5 years. Revenues grew at an average of 7% while operating expenses have grown at an average of 11. 34%. Based on these numbers, we expect to see less leverage on Starbucksââ¬â¢ cost base as operating expenses are growing at a higher rate than revenues. The fact that Starbucksââ¬â¢ operating expenses are growing at a higher rate than its revenues shows that Starbucksââ¬â¢ cost base is mostly variable. This is also proven by the income statement as most of Starbucksââ¬â¢ operating expenses are Cost of Sales and Store Operating expenses. Most of these are usually variable. Having more variable expenses usually means that earnings will not necessarily grow at the same rate as revenues. This is demonstrated by the income statement from the last 5 years. Starbucksââ¬â¢ revenues and earnings have grown at different rates over each year of the last 5 years. The average earnings growth per year over the last 5 years is 12. 62% as compared to an average sales growth per year of 7. 5%. d. Operating income ââ¬â have operating earnings grown at the same rate, faster or slower than sales? What factors (e. g. gross margins, operating expense/charges) account for the trend youââ¬â¢ve identified? Be specific and provide support for your answer. Operating income has grown at a faster rate than sales on a per year basis over the last 5 years. Sales growth has averaged 7. 5% per year as compared to an operating income growth of 11. 75% per year during the same period. The reason that operating income has grown so fast is because Starbucks recently made changes to its cost structure that made it more efficient. As per the 10-k statement filed with the SEC, Starbucks decreased its Cost of Sales by 260 basis points by making their supply chain process more efficient. This resulted in lower food, beverage, and paper packaging costs. Because of its sales leverage, Starbucks was also able to decrease its occupancy costs. Because of the reduced costs, Starbucks was able to have a higher operating income in 2010. This caused the 5 year average to jump up to 11. 75%. Also contributing to this growth was the fact that sales increased at a higher rate than operating expenses. Therefore, operating income also went up at a higher rate than sales. e. Net Income ââ¬â has net income grown at the same rate, faster or slower than sales? What factors (e. g. gross margins, operating expense, non-operating items) account for the trend youââ¬â¢ve identified? Be specific and provide support for your answer. Net Income has increased at a higher rate than sales also on a per year basis for the last five years. In fact, Net Income has pretty much mirrored Operating Income in growth. The factors tied to Net Income are Sales, Operating Expenses, Interest, and Taxes. Taxes remained relatively proportionate EBT each year. During each of the 5 years, Starbucks experienced a positive interest income for 3 years and a negative for 2 years. This helped Starbucks increase their Net Income. However, the factor that affected Net Income the most was Operating Expenses. Operating expenses grew at a slower rate than sales from 2006 to 2010. This resulted in Starbucks having a higher Operating Income which in turn resulted in a higher net income. Starbucksââ¬â¢ net income grew by 142. 2% in 2010 from the previous year. This big change resulted in the average net income growth rate to increase to 12. 62%. During the same period, Sales has grown by 7. 5% and operating expenses grew by 7%. All of this contributed to the Net Income growing at a higher rate than sales. f. Earnings per share ââ¬â Does Starbucksââ¬â¢ earnings per share increase/decrease at a rate consistent with revenue and net income. Why is this? Do you expect this relationship to continue into the future? Starbucksââ¬â¢ EPS increases and decreases at a rate consistent with net income but not sales. This is because earnings per share are calculated by taking the net income and dividing that into the number of shares outstanding. As a result, there is a direct correlation with net income and not sales. We expect this relationship to continue in the future as long as the number of shares outstanding doesnââ¬â¢t change drastically each year. Part IV ââ¬â Analysis of Operating Efficiency, Liquidity and Solvency Using data included in the Form 10-K analyze Starbucksââ¬â¢ operating efficiency and liquidity. That is, answer the questions below. The ratio definitions used to calculate the figures in the Ratio Analysis table are described in the text and lecture notes. a. Operating efficiency: Turnover ratios. In one paragraph, explain what the values of turnover ratios reveal about Starbucks. That is, for each ratio, discuss the trend, compare Starbucksââ¬â¢ ratio to the industry average (for receivables, inventory turnover and asset turnover only) and discuss whether the trend indicates improvements or deteriorations in operating efficiency. Can you think of any other measures that would be useful to assess Starbucksââ¬â¢ operational efficiency? Turnover ratios reveal that in 2010, Starbucksââ¬â¢ sales increased. Receivables turnover jumped up slightly from previous years to 37. 31. The industryââ¬â¢s 2009 median receivables turnover is significantly higher than Starbucksââ¬â¢ at about 98. 64. This trend indicates that Starbucks made less sales on credit in 2010. It could also mean that Starbucks improved collecting on its accounts receivables; however, since Starbucksââ¬â¢ average collection period ratio has not changed in the last three years (holding steady at about 11 days), there is no indication that collection on receivables has improved. The inventory turnover ratio of 7. 8, which slightly increased from 2009, also suggests a decrease in inventories, which is supported by the drop of inventory assets shown on the balance sheet. This trend supports the observation that sales have increased significantly for Starbucks in 2010 which is always an improvement for any business. PP&E Turnover ratio of 4. 32, whi ch increased from 2009, again, demonstrates higher sales since PP&E remained at similar levels as previous years per the balance sheet. Total asset turnover, 1. 79, remained very close to last year, and is slightly less than the industry average, 1. 3. This shows Starbucks continues to generate sales at a level of almost twice as much as they carry assets on their books. The fact that their asset turnover is slightly less than that of their competitors suggests that Starbucks may have more assets than their competitors. b. Liquidity: In one paragraph, explain what the liquidity ratios (current ratio, quick ratio and cash from operations ratio) reveal about Starbucks. Include an explanation of how the cash flow from operations ratio differs from the current and quick ratios. What is your conclusion egarding Starbucksââ¬â¢ liquidity position? With significant increases in 2010 in current ratio, 1. 55, and quick ratio, 0. 99, Starbucks is very liquid. Quick ratio shows they have 1. 5 times current assets on the books as they do current liabilities. Likewise, the quick ratio shows they would be able to cover current liabilities with their current assets. The cash from operations ratio is . 96, which states that Starbucksââ¬â¢ cash from operations would not be enough to cover its current liabilities. This ratio differs from the first two in that it compares a cash flow item to a balance sheet item. It is an indication of a firmââ¬â¢s ability to pay off its current liabilities; however, it is the most conservative liquidity ratio since it excludes all current assets except for the most liquid: cash and equivalents. It tells that Starbucks would not quite be able to pay off all of its current liabilities with just its cash and equivalents, although it does come close. c. Solvency: Interpret the values of the relevant ratios and provide a conclusion regarding Starbucksââ¬â¢ ability to service its debt and risk of future insolvency. Does your conclusion change if you include ââ¬Å"off balance sheet debtâ⬠. How much off balance sheet debt does Starbucks have as of the end of the most recent fiscal year? Starbucksââ¬â¢ solvency ratios suggest that it is in a strong position and would likely be able to service its debt as it shows low risk of future solvency. Itââ¬â¢s debt to equity ratio for 2010 of 0. 73 is at the lowest it has been in the past five years. From 2009 Starbucks had a big increase in retained earnings, this pushed all solvency ratios including interest coverage, return on assets, and return on equity up. ROA and ROE were doubled from 2009 to 0. 16 and 0. 28 respectively. Likewise, interest coverage also had a big jump due to a significant increase in earnings before interest and taxes. If we include ââ¬Å"off balance sheet debt, Starbucks debt to equity ratio increases a bit, but the trend still shows that this ratio has decreased significantly in 2010. The increase would not be enough to state that Starbucks runs a high risk of insolvency. Starbucks has $4,084. 2 in off balance sheet debt as of end of most recent fiscal year. (We assume that the numbers provided are in millions). Part V ââ¬â Analysis of Cash Flow Refer to Starbucksââ¬â¢ cash flow statement: a. During the past three years, what was Starbucksââ¬â¢ largest source of cash? What were Starbucksââ¬â¢ two largest uses of cash? a. For the past 3 years, the largest source of cash for Starbucks was Net earnings including non-controlling assets from its operating activities. Starbucksââ¬â¢ two largest uses of cash were additions to property, plant and equipment, as well as purchasing available for sale securities. It is stated in the 10-k that the major components of the PPE spending were remodeling and upgrading equipment in stores, as well as updating the IT infrastructure of the retail network. b. For the past three fiscal years, has Starbucksââ¬â¢ CFO been adequate to fund its growth initiatives? If no, how has Starbucks funded the CFO shortfalls to fund growth? a. As stated in the 10-K Starbucksââ¬â¢ believes that cash flows generated from operations and existing cash and short term investments should be enough to support their core business activities. However, it is also stated that new business opportunities, joint ventures, and acquisitions would have to utilize outside funding sources. Starbucks has augmented to their cash flows by heavily investing in available for sale securities, and purchasing US Agency and investment grade bonds. These investments, and outside financing, can be used to fund growth initiatives while CFO can be used to support Starbucksââ¬â¢ core retail business. The 10K also mentions that the issuance of commercial paper and its proceeds can be used for working capital needs, capital expenditures, and other corporate purposes, including acquisitions and share repurchases. c. Based on your review of Starbucksââ¬â¢ cash flow statement, has Starbucksââ¬â¢ growth been driven by organic growth or acquisitions? Provide support for your answer. a. Starbucks growth has been driven organically, with strong, steady growth in net earnings including non-controlling interests, and investing a large amount of cash in property, plant, and equipment by opening new retail locations and upgrading existing stores and information systems. By utilizing CFO and short term investment earnings to support their core business, Starbucksââ¬â¢ has maintained a high growth, very successful retail operation. Acquisitions play a minor role compared to the growth and earnings from operating activities. d. If Starbucks continues to grow at its historic rates, does it appear that Starbucksââ¬â¢ CFO can fund this growth? If CFO isnââ¬â¢t sufficient, how might Starbucks fund its future growth? a. Yes, it does appear that Starbucksââ¬â¢ CFO can fund its historic growth. This is stated in the 10k; CFO and short term investments, as well as any potential future borrowings and the commercial paper program can support the existing core business as well as related marketing support, product innovations, and new business opportunities related to the core business. If CFO is not sufficient to fund the historic growth, Starbucks can utilize channels within the investment and finance sections of the cash flow statement. Particularly, Starbucks can invest more heavily in short term investments, and utilize the commercial paper program. Additionally, Starbucks purchases available for sale securities heavily ââ¬â these could be sold in the future to fund any growth where CFO is not adequate to support the core business. e. During the past three fiscal years, what dollar amount of common stock did Starbucks repurchase and what dollar amount of dividends did they pay? Why would Starbucks repurchase their own stock and/or pay a dividend? How does this impact Starbucks ability to fund future growth? How did Starbucksââ¬â¢ strategy with regard to share repurchases and dividends change during the past few years? Why did it change? a. In 2008, Starbucks repurchased $ 311. 4 million in common stock. In 2009, Starbucks did not repurchase any stock. In 2010, Starbucks repurchased $ 285. 6 million in common stock. Starbucks may want to repurchase their own stock so that they can increase their earnings per share ratio. This is especially true if Starbucks shares were perceived as undervalued, as Starbucks can repurchase the shares and hold them in the treasury for future reissuance at a higher price. Starbucks may be able to obtain more financing and loans with better earnings per share ratio as well. Dividends can be paid to shareholders to increase the value of their shares, and encourage other interested parties to purchase Starbucks shares. Paying dividends is a way to help impact positive future growth by making the purchase of Starbucks stock more profitable ââ¬â more people will want to buy it providing more cash for Starbucks to utilize. In the 10-k, it is stated that Starbucks had 1. 7 billion in CFO for 2010 compared to 1. 4 billion in fiscal 2009, and capital expenditures were approximately 440 million in both fiscal years. This left roughly $460 million for stock repurchases and dividends. Starbucks had to repay short term borrowings in 2008 and 2009, but did not have to use cash for repayment in 2010. The cash that would have been used to payback short term borrowings could instead be used to repurchase stock and pay dividends. Thus, the strategy changed because Starbucks was able to operate without short term borrowings in 2010, and was able to pass on the excess case to shareholders. Part VI ââ¬â Market Valuation a. What is Starbuckââ¬â¢s net book value as of the end of the most recent fiscal year? What was Starbuckââ¬â¢s market capitalization as of that date? Why is there a difference in these two amounts? What specific items do you think comprise the difference? Starbucksââ¬â¢ net book value as of the end of 2010 fiscal year was $3,611,500,000 while its market cap was $19,270,826,000. The reason that the two numbers are different is because the net book value is calculated by taking the total assets of Starbucks and subtracting its intangible assets and total liabilities, while the market cap is calculated by multiplying the outstanding shares into the stock price. Because each is calculated using 5 different numbers, there will almost always be a difference in the two numbers. b. Do you believe the difference between Starbuckââ¬â¢s net book value and market capitalization will increase or decrease in the future? What specific factors or trends identified in Starbucksââ¬â¢ financial information (or identified elsewhere) support your view? We believe that the difference between Starbucksââ¬â¢ net book value and market capitalization will decrease in the future. One of the biggest reasons for this is the fact that Starbucks restructured its Supply Chain process to lower costs. As a result, net income grew by 142% in 2010. This was a huge turnaround by Starbucks in one year and it can be attributed to the fact that leadership identified and implemented this cost saving mechanism. Another trend that indicates that Starbucks is on its way back is the fact that they opened more stores than they closed in the last 2 years. This strategy is key to Starbucks succeeding. Third, Starbucksââ¬â¢ gross margin has remained constant in the last 5 years despite the down years. This shows that management knows how to cut down on costs when times are rough, or that despite financial downturns, people are still willing to pay for expensive coffee. Conclusion Refer to your responses in Part 1: How do the results of your analysis in Parts II through VI support or contradict your original thoughts regarding Starbucks growth strategy and the success or failure of the three action areas (growth initiatives) you identified? Our assumption on their strategy to saturate the U. S. Market by building as any stores as possible is supported by our discussion on sales growth, which shows that there is a direct correlation between sales revenue growth and net new stores opened. Likewise, in analyzing the CFO, we concluded that Starbucks has grown organically through their investment in PP&E, which corroborates our original thoughts. Although they probably realized they were overdoing it with having a Starbucks on every corner, their growth strategy of increasing store numb ers has been a success for the company as sales have also increased. Going forward, the challenge will be to maintain high sales rates while being able to cover its large PP&E/overhead expenses. Although we didnââ¬â¢t really analyze the impact of international expansion in our analysis above, according to the companyââ¬â¢s 10-K, operating income from international activities more than doubled from 2009 to 2010; however, this increase was mostly due to foreign currency translation among other things. Therefore, our original thoughts are not necessarily proven by the data that we analyzed. Finally, we stated that one of Starbucksââ¬â¢ growth strategies was to develop alternative revenue sources. As we looked deeper at the reasons for sales growth, we noticed that licensing and food service both were strong contributors to the increases in net revenues. Our discussion on sales growth indirectly supports this hypothesis, since the increase in net revenues was affected by an increase in average value per transaction (as stated in the 10-K). This means that customers are not just buying coffee at the checkout stand because Starbucks is being successful at selling other complimentary goods along with their drinks. Therefore, this is definitely being a successful growth strategy for Starbucks.
Wednesday, October 9, 2019
Kidney Dialysis Essay
The kidney has two important functions for the body because it is connected to the bodyââ¬â¢s blood flow, it can help monitor blood pressure and secrete hormones, which can raise blood pressure in the event when it does not receive enough blood flow. However the most important job is filtration of blood. The kidney works to filter out toxins, especially chemicals that are formed as a result of cells using energy. The kidneys also work to maintain the balance of electrolytes within the body which can be lost during exercise. Cells need a good balance of electrolytes such as sodium and potassium within the body. If one kidney fails the other one is enough to maintain the body however if both fail to work it is a major issue and it causes problems as the kidney cannot filter the blood. How does a renal dialysis work: A dialysis machine tries to mimic some of the functions of a normal human kidney. One of the jobs of a kidney is to remove urea and some salts from the blood so they can leave the body in the urine. In a dialysis machine, blood from the patient runs through tubes made of a semi-porous membrane. Outside the tubes is a sterile solution made up of water, sugars and other components. Red and white blood cells and other important blood components are too large to fit through the pores in the membranes this acts like the glomerlus in the bowmanââ¬â¢s capsule where ultra filtration takes place, but urea and salt pass through membranes into the sterile solution and are removed, this is what happens in a normal functioning kidney the small molecules can pass through the glomerlus but proteins and cells cannot as they are too large. What is haemodialysis: Kidney failure, whether it is permanent or temporary, is mostly treated using renal dialysis, which kind of replaces the kidneys filtration function. One form of renal dialysis is called hemodialysis. With hemodialysis, the patientââ¬â¢s blood is run through a machine with a special filter that helps clean out the waste products. Once the blood has been filtered, it is allowed to return to the body. One of the difficulties of hemodialysis is that it takes place at special medical centres and we are short of machines. This means that the patient has to visit three times per week that lasts between three to five hours per session, this takes up a lot of time. What is peritoneal dialysis: Peritoneal dialysis is the other main form of renal dialysis. With peritoneal dialysis, a sterile cleansing fluid called dialysis solution is injected into the abdominal cavity. The abdominal cavity is lined by a membrane called the peritoneum, which allows the waste products and extra electrolytes to pass through it and travel to the dialysis solution. The dialysis solution also contains a sugar called dextrose, which helps speed the process up. After the solution has sat in the abdominal cavity for four to six hours, it is drained out. This process is repeated four times per day. This type of treatment can take place at home because it makes use of a catheter, which allows the patient to connect a bag of dialysis fluid to a tube that feeds directly into the peritoneal cavity. This treatment allows a person to be a bit more flexible however the patient still needs to do this treatment a few times a day which means it takes up time of a normal persons life. The benefits and risks of a kidney transplant: A kidney transplant is much better than staying on a dialysis machine. A kidney transplant means you can live a normal life, you wonââ¬â¢t have to go to the hospital a few times a week to get treated and this wastes time as it takes 2-3 hours on a dialysis machine 3-4 times a week this means that you cannot go away. Someone whoââ¬â¢s on a dialysis machine has to give up a lot of time and this may get in the way as they may have to cancel many things during their normal daily life. A kidney transplant gives the body a whole new kidney and works perfectly where as a dialysis machine can only mimic a few of the roles of a kidney. The risks of a kidney transplant are that the body may reject the kidney as it is foreign so a very close tissue match is required. After a person has had a kidney transplant they have to be on drugs for the rest of their life so that the body does not reject the kidney. Kidney transplants can also cause infections or bleeding which can dangerous. Donor cards: A donor card is a card that shows that a person has agreed to give away someà of the organs after they die, and this can be used for transplants. However there are issues, some people believe that it is religiously wrong to give away your organs after you die and this causes a lot of problems. A family member may have given consent to give away their organs when they die but after they die their family members may object and not allow it and this causes a lot of problems. There is a long list for transplants and it is very hard to receive a transplant, donors help quicken this service. In England it is optional to become a donor or not. Another issue may be about race some people will not wish to have an organ from someone else from another race or the donor may not wish to give their organs to someone else from another race or religion and this is another problem that causes delays and means thereââ¬â¢s a shortage of donors. Definitions: Ultra filtration: A high pressure filtration through a semipermeable membrane in which colloidal particles are retained while the small sized solutes and the solvent are forced to move across the membrane by hydrostatic pressure forces. Ultrafiltration is a vital process that takes place in the kidneys. With ultrafiltration, large molecules (such as cells and proteins) that are essential are separated or filtered out to be reabsorbed. The ultrafiltrate, in turn, is passed through the proximal tubule, the loop of Henle, the distal convoluted tubule, and a series of collecting ducts to form urine. Osmosis: Diffusion of a solvent (usually water molecules) through a semipermeable membrane from an area of low solute concentration to an area of high solute concentration. Selective reabsorption: The act or process of absorbing again, as the selective absorption by the kidneys of substances (glucose, proteins, sodium, etc.) already secreted into the renal tubules and their return to the circ ulating blood. Microvilli: Any of the minute hairlike structures projecting from the surface of certain types of epithelial cells, especially those of the small intestine. Co-transport proteins: Facilitated diffusion: Transport of substances across a biological membrane from an area of higher concentration to an area of lower concentration by means of a carrier molecule. Since the substances move along the direction of their concentration gradients, energy is not required. Active transport: A kind of transport wherein ions or molecules move against a concentration gradient, which means movement in the direction opposite that of diffusion ââ¬â or ââ¬â movement from an area of lower concentration to an area of higher concentration. Hence, this process will require expenditure of energy, and the assistance of a type of protein called a carrier protein. ADH: a peptide hormone released from the posterior pituitary lobe but synthesised in the hypothalamus. There are 2 forms, differing only in the amino acid at position 8: arginine vasopressin is widespread, while lysine vasopressin is found in pigs. Has antidiuretic and vasopressor actions. Used in the treatment of diabetes insipidus. Osmoregulation: The process of regulating water potential in order to keep fluid and electrolyte balance within a cell or organism relative to the surrounding. Counter-current multipliers: Resources used: http://www.livestrong.com/article/75374-renal-dialysis-work-those-kidney/ http://health.howstuffworks.com/medicine/tests-treatment/question17.htm
Tuesday, October 8, 2019
School Uniforms Gang Effect Essay Example | Topics and Well Written Essays - 250 words
School Uniforms Gang Effect - Essay Example Both of these words are sometimes abbreviated as "quote(s)". Block quoteà is another punctuation mark which is also calledà long quotationà orà extracts quotation. It is aà quotationà in a written document that is set off from the main text as a paragraph or block of text, and typically distinguished visually usingà indentationà and a differentà typeface or smaller size quotation. This is in contrast to setting it off with quotation marks in aà run-in quote.à Apart from quotation marks not being used to enclose block quotations, there are no hard-and-fast rules for the exact formatting of block quotations. (Susan, pg. 360) In conclusion style for using a block quotation is preferred when extracting text that has 100 words or more, or approximately six to eight lines in a typical manuscript than using quotes. To a large extent the specific format may be dictated by the method of publication such handwrittenà text,à typewrittenà pages, orà electronic publishing as well as theà typefaceà being
Monday, October 7, 2019
Autobiographical essay------Describe your past experiences and future Essay
Autobiographical ------Describe your past experiences and future plans, showing how the degree ( computer information syste - Essay Example I started as a database operator and gradually rose to be senior database administrator. I have worked for IBM, GM, Star Alliance (Sheraton Group). I also have the appropriate experience in sql server, Oracle, db2, sysbase, peopleââ¬â¢s soft and SAP. While pursing my bachelorââ¬â¢s degree, I gained expertise in almost all the important programming languages like C, C++, Java and Assembly Language. I possess over 9 years of Oracle Production DBA and MS SQL Server 2000, 2005 experience with Oracle 10g, 9i, 8i and UNIX/Red Hat Linux/Fedore/ Sun Solaris/AIX and Microsoft 2000 and 2003. I acquired over 2 years experience as an Oracle Application Server, Forms, Reports, and Data Warehouse. I hold an excellent DBA expertise with Production Database and Data Warehouse Administration. I am also proficient in Administration, Productivity and Modeling Tools. I am quite proficient at programming and Production Database Daily Administration. I do have the expertise in High Availability Tech nologies like Oracle 9i RAC, Oracle 10g RAC, Data Guard/Standby Database, Database Replication/Clone including the expertise in Database Health Maintenance. . Not to say, my panache for gaining technical proficiency was always equally matched by my drive to sharpen my soft skills.
Sunday, October 6, 2019
Current Issues Essay Example | Topics and Well Written Essays - 1500 words
Current Issues - Essay Example Now training and development is one of the main pillars of human resource management. There is a high level of involvement of computers in almost every field of life, so the employees need to excel the computer skills. Every organization is focusing on the vital importance of these job-training programs and thus tries to arrange the regular sessions of experts. These experts come, meet the employees, and give tips to them. These job trainings create innovation in the routine duties of the employees. The expert managers appreciate creative and innovative ideas from the employees. The training programs can be multidisciplinary and thus aimed at the long-term benefit of the organization (McKay 2). The associated benefits with these job-training programs are beneficial for the organization. Job training programs actually aim to polish the skills and expertise of the employees and managers of any organization. Now almost every organization is focusing on this perspective. The impact of training programs is very much effective. The employees and managers become more productive and thus improve the output of the organization. In this way, the organization is more profitable. These skilled labor or the expert individuals are beneficial factors for the economic development. They can play their role in the regional and economic development by the use of their expertise. A successful job training is always future oriented and thus can be linked t the economic development of the organization. By arranging such job trainings, an organization can achieve efficiency and effectiveness, build more production capacity in the employees, and motivate the employees to work faster. With the help of these future oriented job-training programs, an organization can prepare itself for the upcoming changes and challenges in the competitive market. The expertises of the employees are actually the real strength or the competitive advantage of the firm. An author is of the viewpoint
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